Document:

Exhibit 10.2

 

Execution Version

 

 

 

PURCHASE AGREEMENT

 

by and among

 

GROUP 1 AUTOMOTIVE, INC.,

 

GPB PORTFOLIO AUTOMOTIVE,
LLC,

 

CAPSTONE AUTOMOTIVE GROUP, LLC,

 

CAPSTONE AUTOMOTIVE GROUP II, LLC,

 

AUTOMILE PARENT HOLDINGS, LLC,

 

AUTOMILE TY HOLDINGS, LLC

 

and

 

PRIME REAL ESTATE HOLDINGS, LLC

 

Dated as of September 12, 2021

 

    

     

    

 

	TABLE OF CONTENTS
	 	Page

 

	ARTICLE I	 
	 	 	 
	DEFINITIONS; INTERPRETATION	 
	 	 	 
	SECTION 1.01.	Definitions	1
	SECTION 1.02.	Other Defined Terms	19
	SECTION 1.03.	Interpretation	21
	 	 	 
	ARTICLE II	 
	 	 	 
	PURCHASE AND SALE; ASSUMPTION OF LIABILITIES	 
	 	 	 
	SECTION 2.01.	Purchase and Sale	23
	SECTION 2.02.	Purchased Assets; Excluded Assets	24
	SECTION 2.03.	Assumed Liabilities; Excluded Liabilities	28
	SECTION 2.04.	Non-Transferable Assets	30
	SECTION 2.05.	Purchaser’s Recording and Similar Responsibilities	32
	SECTION 2.06.	Payment of Closing Purchase Price	32
	SECTION 2.07.	Closing Purchase Price Adjustment	32
	SECTION 2.08.	Withholding	34
	SECTION 2.09.	Holdback Amount	35
	SECTION 2.10.	Deposit	35
	 	 	 
	ARTICLE III	 
	 	 	 
	CLOSING; CLOSING DELIVERIES	 
	 	 	 
	SECTION 3.01.	Closing	36
	SECTION 3.02.	Delayed Closing	36
	SECTION 3.03.	Effectiveness	37
	SECTION 3.04.	Transactions to be Effected at the Closing	37
	SECTION 3.05.	Allocation of Closing Purchase Price	39
	 	 	 
	ARTICLE IV	 
	 	 	 
	REPRESENTATIONS AND WARRANTIES OF THE SELLER
    PARTIES	 
	 	 	 
	SECTION 4.01.	Organization; Standing	39
	SECTION 4.02.	Authority; Enforceability; Noncontravention	40
	SECTION 4.03.	Governmental Approvals	41
	SECTION 4.04.	Capitalization; Title to Transferred Interests	41
	SECTION 4.05.	Title to Tangible Property	41
	SECTION 4.06.	Sufficiency of Assets	42
	SECTION 4.07.	Financial Statements	42
	SECTION 4.08.	Absence of Certain Changes	42

 

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	SECTION 4.09.	Legal Proceedings	43
	SECTION 4.10.	Compliance with Laws; Permits	43
	SECTION 4.11.	Tax Matters	43
	SECTION 4.12.	Employee Benefits	44
	SECTION 4.13.	Labor Matters	46
	SECTION 4.14.	Environmental Matters	46
	SECTION 4.15.	Intellectual Property	47
	SECTION 4.16.	Transferred Real Property	49
	SECTION 4.17.	Manufacturers; Warranties; Customer Deposits; We Owes	51
	SECTION 4.18.	Contracts	52
	SECTION 4.19.	Insurance	53
	SECTION 4.20.	Brokers and Other Advisors	54
	SECTION 4.21.	No Other Representations or Warranties	54
	 	 	 
	ARTICLE V	 
	 	 
	REPRESENTATIONS AND WARRANTIES OF THE PURCHASER	 
	 	 	 
	SECTION 5.01.	Organization; Standing	55
	SECTION 5.02.	Authority; Noncontravention	55
	SECTION 5.03.	Governmental Approvals	56
	SECTION 5.04.	Financial Ability to Perform	56
	SECTION 5.05.	Solvency	57
	SECTION 5.06.	Investment Representation	58
	SECTION 5.07.	Brokers and Other Advisors	58
	SECTION 5.08.	Legal Proceedings	58
	SECTION 5.09.	Manufacturer Approval	58
	SECTION 5.10.	No Other Representations or Warranties; Non-Reliance	59
	 	 	 
	ARTICLE VI	 
	 	 
	COVENANTS RELATING TO CONDUCT OF BUSINESS	 
	 	 	 
	SECTION 6.01.	Conduct of Business Before the Closing	60
	 	 	 
	ARTICLE VII	 
	 	 
	ADDITIONAL COVENANTS OF THE PARTIES	 
	 	 	 
	SECTION 7.01.	Efforts	63
	SECTION 7.02.	Public Announcements	65
	SECTION 7.03.	Access to Information; Confidentiality; Property Inspection
    Period	66
	SECTION 7.04.	Bulk Sale	70
	SECTION 7.05.	Insurance	70

 

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	SECTION 7.06.	Employee Matters	71
	SECTION 7.07.	COBRA Indemnification and Information	75
	SECTION 7.08.	Post-Closing Access	75
	SECTION 7.09.	Fees and Expenses	76
	SECTION 7.10.	Intercompany Accounts; Affiliate Agreements	76
	SECTION 7.11.	Tax Matters	77
	SECTION 7.12.	Transfer of Intellectual Property	79
	SECTION 7.13.	Replacement of Seller Guarantees	79
	SECTION 7.14.	Payments from Third Parties	79
	SECTION 7.15.	Further Assurances	80
	SECTION 7.16.	Correspondence	80
	SECTION 7.17.	Transition Services	80
	SECTION 7.18.	Financing Matters	80
	SECTION 7.19.	Title Insurance and Real Property Cooperation	84
	SECTION 7.20.	Use of Name	85
	SECTION 7.21.	Manufacturer Payments	86
	SECTION 7.22.	PPP	86
	SECTION 7.23.	Chargebacks	86
	SECTION 7.24.	ROFR Exercise	87
	SECTION 7.25.	Customer Deposits; We Owes; Material Business Contracts	87
	SECTION 7.26.	Capital Improvements	87
	SECTION 7.27.	Notice of Certain Events	87
	 	 	 
	ARTICLE VIII	 
	 	 
	CONDITIONS TO CLOSING	 
	 	 	 
	SECTION 8.01.	Conditions to Each Party’s Obligations to Effect the
    Closing	87
	SECTION 8.02.	Additional Conditions to Obligations of the Purchaser	88
	SECTION 8.03.	Additional Conditions to Obligations of the Seller Parties	88
	SECTION 8.04.	Frustration of Closing Conditions	89
	 	 	 
	ARTICLE IX	 
	 	 
	TERMINATION	 
	 	 	 
	SECTION 9.01.	Termination	89
	SECTION 9.02.	Effect of Termination	90
	 	 	 
	ARTICLE X	 
	 	 
	INDEMNIFICATION	 
	 	 	 
	SECTION 10.01.	Survival	90

 

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	SECTION 10.02.	Indemnification by the Selling Entities	91
	SECTION 10.03.	Indemnification by the Purchaser	91
	SECTION 10.04.	Indemnification Procedures	92
	SECTION 10.05.	Calculation of Indemnity Payments	94
	SECTION 10.06.	Environmental Matters	94
	SECTION 10.07.	Additional Matters	95
	SECTION 10.08.	Adjustment to Purchase Price	96
	SECTION 10.09.	Order of Recourse; Sole and Exclusive Remedy	96
	 	 	 
	ARTICLE XI	 
	 	 	 
	MISCELLANEOUS	 
	 	 	 
	SECTION 11.01.	Notices	97
	SECTION 11.02.	Amendment	98
	SECTION 11.03.	Extension; Waiver	98
	SECTION 11.04.	Severability	98
	SECTION 11.05.	Counterparts	98
	SECTION 11.06.	Entire Agreement; Third-Party Beneficiaries	98
	SECTION 11.07.	Governing Law	99
	SECTION 11.08.	Assignment	99
	SECTION 11.09.	Enforcement; Jurisdiction; Consent to Service of Process;
    Waiver of Jury Trial	99
	SECTION 11.10.	No Recourse Against Nonparty Affiliates	100
	SECTION 11.11.	Legal Representation	102
	SECTION 11.12.	Schedules	103

 

Exhibits

 

	EXHIBIT A	Purchase Price Calculation/Accounting Principles
	EXHIBIT B	Form of Bill of Sale and Assignment and Assumption Agreement
	EXHIBIT C	Form of Assignment Agreement for Transferred Interests
	EXHIBIT D	Form of Intellectual Property Assignment Agreement
	EXHIBIT E	Form of Purchase Price Allocation
	EXHIBIT F	Debt Commitment Letter
	EXHIBIT G	Form of Certificate of Non-Foreign Status
	EXHIBIT H	Form of Escrow Agreement
	 	 
	ANNEX A	Non-Dealership Lessees
	ANNEX B	Non-Business Entities
	ANNEX C	Dealerships

 

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This PURCHASE AGREEMENT, dated
as of September 12, 2021 (this “Agreement”), is made by and among Group 1 Automotive, Inc., a Delaware corporation
(the “Purchaser”), GPB Portfolio Automotive, LLC, a Delaware limited liability company, Capstone Automotive Group,
LLC, a Delaware limited liability company, Capstone Automotive Group II, LLC, a Delaware limited liability company, Automile Parent Holdings,
LLC, a Delaware limited liability company, and Automile TY Holdings, LLC, a Delaware limited liability company (each, a “Seller”
and collectively, the “Sellers”), and Prime Real Estate Holdings, LLC, a Delaware limited liability company (the “Real
Estate Equity Seller”). The Sellers and the Real Estate Equity Seller are collectively referred to herein as the “Seller
Parties.” Capitalized terms used but not otherwise defined herein have the meanings set forth in Section 1.01.

 

WHEREAS, the Sellers conduct
the Business directly or indirectly through certain of their respective Subsidiaries;

 

WHEREAS, the Real Estate Equity
Seller holds equity interests in Subsidiaries that own certain real estate or real property interests used in connection with the Business;

 

WHEREAS, the Seller Parties
directly or indirectly through the other Selling Entities own or have rights to the Purchased Assets (including the Transferred Interests);
and

 

WHEREAS, upon the terms and
subject to the conditions set forth in this Agreement, the Seller Parties and the other Selling Entities desire to sell, transfer, assign
and deliver to the Purchaser, and the Purchaser desires to (a) purchase, acquire, assume and accept from the Seller Parties and
the other Selling Entities all of their respective right, title and interest in and to all of the Purchased Assets and (b) assume
the Assumed Liabilities; and

 

WHEREAS, in connection with
the purchase of the Purchased Assets, the Purchaser or its Affiliate is willing to employ Business Employees immediately following the
Closing or Delayed Closing, as applicable, as set forth in Section 7.06 herein.

 

NOW, THEREFORE, in consideration
of the foregoing and the representations, warranties, covenants and agreements contained in this Agreement, and intending to be legally
bound hereby, the Purchaser and each Seller Party hereby agrees as follows:

 

ARTICLE I

 

Definitions;
Interpretation

 

SECTION 1.01.     Definitions.

 

“Affiliate”
means, as to any Person, any other Person that, directly or indirectly, controls, or is controlled by, or is under common control with,
such Person. For this purpose, “control” (including, with its correlative meanings, “controlled by” and “under
common control with”) shall mean the possession, directly or indirectly, of the power to direct or cause the direction of management
or policies of a Person, whether through the ownership of securities or partnership or other ownership interests, by Contract or otherwise.

 

    

     

    

 

“Ancillary Agreements”
means the Bill of Sale and Assignment and Assumption Agreement, the Assignment Agreements for Transferred Interests, the Intellectual
Property Assignment Agreement and the Escrow Agreement.

 

“Antitrust Laws”
means the Sherman Act, the Clayton Act, the HSR Act (as defined below), the Federal Trade Commission Act, and all other applicable Laws
issued by a Governmental Authority that are designed or intended to prohibit, restrict or regulate actions having the purpose or effect
of monopolization or restraint of trade or lessening of competition through merger or acquisition.

 

“Asset Taxes”
means ad valorem, property, excise, sales, use and similar Taxes based upon the operation or ownership of the Purchased Assets, the assets
of the Transferred Entities or the Business, but excluding, for the avoidance of doubt, Income Taxes and Transfer Taxes.

 

“Automile” means Automile Holdings, LLC,
a Delaware limited liability company. “Balance Sheet Date” means July 31, 2021.

 

“Business”
means (a) the business of the Selling Entities operated at or with respect to the Dealerships and relating to (i) the sale
and distribution of automobiles and other related equipment, components, spare parts and accessories at or with respect to the Dealerships
and

 

(ii) repair and maintenance services provided
with respect to automobiles and related activities conducted at or with respect to the Dealerships, (b) the business of the Transferred
Entities of owning and leasing real estate to the Dealerships and certain other Persons set forth on Annex A and (c) the
business of the Selling Entities of owning and operating collision centers. For avoidance of doubt, none of the entities set forth on
Annex B is or will be deemed to be engaged in the Business.

 

“business day”
means a day except a Saturday, a Sunday or other day on which banks in the State of New York are authorized or required by Law to be
closed.

 

“Business Employee”
means each employee of Automile who is set forth in Section 1.01(a) of the Disclosure Letter (by such employee’s associate
ID number and location), including each such employee who is on leave of absence (including medical leave, personal leave, extended COVID-19-related
leave, military leave, workers compensation leave, short-term disability and long-term disability) or paid or unpaid time-off, as such
list may be updated in accordance with Section 7.06(a).

 

“Capital Improvements
Reimbursement Amount” means (x) the aggregate amount of actual costs and expenses incurred and paid by the Selling Entities
prior to the Closing with respect to each capital improvement project related to certain Transferred Real Property, which projects are
each described on Section 1.01(b) of the Disclosure Letter, including (i) the project name and location, (ii) the
actual costs incurred to date and (iii) the maximum amount budgeted for each such project less (y) the actual amounts paid
to the applicable Selling Entity under the Financial Assistance Letter of Agreement, dated September 15, 2020 between Mazda Motor
of America, Inc. and AMR Auto Holdings-MN, L.L.C.

 

    2

     

    

 

“Cash” means
all cash and cash equivalents, net of uncleared checks outstanding and in process wire transfers, of a Person but excludes security deposits
and damage deposits (including under any leases of Real Property), and Customer Deposits (which for the avoidance of doubt are dealt
with in Closing Current Assets and Closing Current Liabilities).

 

“Closing Cash”
means, in each case determined as of 11:59 p.m., New York City time, on the day immediately preceding the Closing Date in accordance
with the Purchase Price Calculation/Accounting Principles, all Cash of the Transferred Entities.

 

“Closing Current Assets”
means, in each case as determined as of 11:59 p.m., New York City time, on the day immediately preceding the Closing Date, the current
assets of the Business that are specifically listed by type as set forth in Section 1.01(c)-1 of the Disclosure Letter, calculated
in accordance with the Purchase Price Calculation/Accounting Principles or, with respect to Taxes, the Tax Allocation Principles.

 

“Closing Current Liabilities”
means, in each case as determined as of 11:59 p.m., New York City time, on the day immediately preceding the Closing Date, the current
Liabilities of the Business that are specifically listed by type as set forth in Section 1.01(c)-2 of the Disclosure Letter, calculated
in accordance with the Purchase Price Calculation/Accounting Principles or, with respect to Taxes, the Tax Allocation Principles.

 

“Closing Debt”
means all Indebtedness owed in respect of (a) the applicable bank financing used to purchase the vehicle inventory of the Seller
Group and secured by such vehicle inventory or (b) financing used to purchase Transferred Owned Real Property and secured by such
Transferred Owned Real Property.

 

“Closing Debt Amount”
means the total amount of Closing Debt as of immediately prior to the Closing.

 

“Closing Demonstrator
Vehicles Price” means, in each case determined as of 11:59 p.m., New York City time, on the day immediately preceding the Closing
Date in accordance with the Purchase Price Calculation/Accounting Principles, the aggregate value of all Demonstrator Vehicles of the
Business included in the Purchased Assets.

 

“Closing Loaner Vehicles
Price” means, in each case determined as of 11:59 p.m., New York City time, on the day immediately preceding the Closing Date
in accordance with the Purchase Price Calculation/Accounting Principles, the aggregate value of all Loaner Vehicles of the Business included
in the Purchased Assets.

 

“Closing Manufacturer
Parts and Accessories Price” means, in each case determined as of 11:59 p.m., New York City time, on the day immediately preceding
the Closing Date in accordance with the Purchase Price Calculation/Accounting Principles, the aggregate value of all Manufacturer Parts
and Accessories of the Business included in the Purchased Assets.

 

“Closing New Vehicles
Price” means, in each case determined as of 11:59 p.m., New York City time, on the day immediately preceding the Closing Date
in accordance with the Purchase Price Calculation/Accounting Principles, the aggregate value of all New Vehicles of the Business included
in the Purchased Assets.

 

    3

     

    

 

“Closing Non-Manufacturer
Parts and Accessories Price” means, in each case determined as of 11:59 p.m., New York City time, on the day immediately preceding
the Closing Date in accordance with the Purchase Price Calculation/Accounting Principles, the aggregate value of all Non-Manufacturer
Parts and Accessories of the Business included in the Purchased Assets.

 

“Closing Other Assets”
means, in each case determined as of 11:59 p.m., New York City time, on the day immediately preceding the Closing Date in accordance
with the Purchase Price Calculation/Accounting Principles, the aggregate value of all other assets of the Business included in the Purchased
Assets and not otherwise included in Closing Purchase Price under another category.

 

“Closing Supplies
Price” means, in each case determined as of 11:59 p.m., New York City time, on the day immediately preceding the Closing Date
in accordance with the Purchase Price Calculation/Accounting Principles, the aggregate value of all Supplies of the Business included
in the Purchased Assets.

 

“Closing Tires Price”
means, in each case determined as of 11:59 p.m., New York City time, on the day immediately preceding the Closing Date in accordance
with the Purchase Price Calculation/Accounting Principles, the aggregate value of all Tires of the Business included in the Purchased
Assets.

 

“Closing Used Vehicles
Price” means, in each case determined as of 11:59 p.m., New York City time, on the day immediately preceding the Closing Date
in accordance with the Purchase Price Calculation/Accounting Principles, the aggregate value of all Used Vehicles of the Business included
in the Purchased Assets.

 

“Closing Work in Process
Price” means, in each case determined as of 11:59 p.m., New York City time, on the day immediately preceding the Closing Date
in accordance with the Purchase Price Calculation/Accounting Principles, the aggregate value of all Work in Process of the Business included
in the Purchased Assets.

 

“Code” means the Internal Revenue Code
of 1986, as amended.

 

“Conforming Estoppel”
means a written estoppel certificate, addressed to the Purchaser and the Purchaser’s lenders, executed by the landlord, sublandlord
or licensor under each of the Material Transferred Real Property Leases, which (a) shall be in form and substance mutually acceptable
to the Purchaser and the Seller Parties, (b) shall be dated no earlier than thirty (30) days prior to the Closing Date, (c) shall
include statements (i) certifying that such Material Transferred Real Property Lease is unmodified (except as identified in the
estoppel certificate and which contains no material modifications that have not been made available to Purchaser by Sellers) and is in
full force and effect, (ii) setting forth the rent and other charges and describing the dates to which rent and other charges have
been paid, and (iii) setting forth the dates of commencement and expiration of the term thereof, (d) shall certify that (i) there
is no material default on the part of either the Selling Entity or Transferred Entity party to such Material Transferred Real Property
Lease, on the one hand, or on the part of such landlord, sublandlord or licensor, on the other hand, under such Material Transferred
Real Property Lease, and (ii) no event has occurred that would constitute a material default upon either or both of the passage
of time or giving of notice under such Material Transferred Real Property Lease on the part of either the Selling Entity or Transferred
Entity that is party thereto or on the part of such landlord, sublandlord or licensor thereunder, and (e) shall contain such other
statements, certifications, and representations on the part of the part of such landlord, sublandlord or licensor as may be reasonably
requested by the Purchaser or its lenders, provided that the foregoing requirements are subject to and may be limited by any relevant
estoppel provisions in the Material Transferred Real Property Leases. For the purposes hereof, a “material default” on the
part of the Selling Entity or Transferred Entity that is party to a Material Transferred Real Property Lease is a default or breach that,
if not cured, confers to the landlord, sublandlord or licensor thereunder, pursuant to the express terms of the applicable Transferred
Real Property Lease, the right or option to terminate such Transferred Real Property Lease.

 

    4

     

    

 

“Consent”
means any consent, approval or authorization of, notice to or designation, registration, declaration or filing with, any third party,
including Permits.

 

“Contract”
means any legally binding contract, agreement, deed, mortgage, lease, sublease, license, sublicense, purchase order, statement of work
or commitment, instrument, or arrangement.

 

“Controlled Group
Liability” means any and all Liabilities (a) under any “multiemployer plan” (as defined in Section 3(37)
of ERISA), (b) under Title IV of ERISA, (c) under Section 302 of ERISA or Sections 412, 430(k), and 4971 of the Code,
and (d) as a result of the failure to comply with the continuation of coverage requirements of ERISA Section 601 et seq., and
Section 4980B of the Code.

 

“COVID-19”
means SARS-CoV-2 or COVID-19, and any evolutions or mutations thereof or related or associated epidemics, pandemic or disease outbreaks.

 

“COVID-19 Measures”
means any quarantine, “shelter in place,” “stay at home,” workforce reduction, social distancing, shut down,
closure, sequester, safety or similar Laws, directives, guidelines or recommendations promulgated by any Governmental Authority, including
the Centers for Disease Control and Prevention and the World Health Organization, or related requirements, guidelines or recommendations
of any customer of the Seller Group, in each case, in connection with or in response to COVID-19, including the Coronavirus Aid, Relief
and Economic Security Act and the Families First Act.

 

“Dealerships” means the dealerships listed
on Annex C hereto.

 

“Debt Financing”
means any debt financing incurred or intended to be incurred by the Purchaser or any of its Subsidiaries in order to finance all or a
portion of the Closing Purchase Price and the other amounts required to be paid by the Purchaser to consummate the Transactions, including
but not limited to the debt financing contemplated by the Debt Commitment Letter.

 

“Delayed Business
Employee” means, to the extent a Dealership becomes a Delayed Closing Dealership, (i) any Business Employee whose primary
employment location is at such Dealership or (ii) any other Business Employee who the parties reasonably agree in writing to designate
as a Delayed Business Employee.

 

    5

     

    

 

“Demonstrator Vehicles”
means each of the Selling Entities’ untitled vehicles used as demonstrator vehicles of the Dealerships.

 

“Employee”
means (a) the Business Employees and (b) any employee of the Seller Group whose employment therewith terminated prior to the
date hereof or terminates prior to the Closing Date.

 

“Environmental Assessment” means all or
any portion of the following tasks:

(a) site inspections at reasonable times
of any and all Transferred Real Properties and improvements, buildings, fixtures and equipment thereon; (b) review and copy of any
and all Records, including environmental files, environmental site assessment reports, records, and correspondence; (c) interviews
with the owners, operators and occupants of the Transferred Real Properties and improvements, buildings, fixtures and equipment thereon
as well as any of their respective employees, agents and representatives that may have Knowledge of environmental matters; (d) interviews
with Governmental Authority personnel and review of Governmental Authority records; (e) evaluation of existing, or performance of
new, environmental site assessments, including a so-called Phase I environmental site assessment; and (f) sampling, testing, boring,
drilling or other invasive investigation activities, including a so-called Phase II environmental site assessment (collectively, “Phase
II Activities”) at, on, under, or about any or all of the Transferred Real Properties and improvements, buildings, fixtures
and equipment thereon.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended, and the applicable rules and regulations promulgated thereunder.

 

“ERISA Affiliate”
means, with respect to any Person, any entity, trade or business that is a member of a group described in Section 414(b), (c), (m) or
(o) of the Code or Section 4001(b) (l) of ERISA that includes such Person, or that is a member of the same “controlled
group” as such Person pursuant to Section 4001(a) (14) of ERISA.

 

“Escrow Agent” means Bank of America, National
Association.

 

“Escrow Agreement”
means that certain Escrow Agreement, dated as of the Closing Date, by and among the Seller Parties, the Purchaser and the Escrow Agent,
in substantially the form set forth as Exhibit H.

 

“Excluded Tax Returns”
means all Tax Returns of the Seller Group other than (i) a Tax Return of a Transferred Entity or (ii) Tax Returns for Asset
Taxes of any member of the Seller Group other than the a Selling Entity of a Transferred Entity.

 

“Final Purchase Price”
means the Closing Purchase Price (as hereafter defined) as finally adjusted pursuant to Section 2.07 to reflect the Final
Closing Amounts.

 

    6

     

    

 

“Financial Statements”
means the following financial statements (in each case, along with the notes and schedules thereto): (a) the audited consolidated
balance sheets of GPB Prime Holdings, LLC and its subsidiaries as of December 31, 2020 and December 31, 2019, and the related
audited consolidated statements of income, statements of members’ capital and statements of cash flows of GPB Prime Holdings, LLC
and its subsidiaries for the years ended December 31, 2020 and December 31, 2019; (b) the unaudited consolidated balance
sheet of GPB Prime Holdings, LLC and its subsidiaries as of July 31, 2021, and the related unaudited consolidated statement of operations,
unaudited consolidated statement of members’ equity and unaudited consolidated statement of cash flows for period ended July 31,
2021; (c) the audited combined balance sheet of the New York Metro Dealerships as of December 31, 2020, and related audited
combined statements of income, statements of members’ equity and statements of cash flows of the New York Metro Dealerships for
the year ended December 31, 2020; and (d) the unaudited combined balance sheet of the New York Metro Real Estate &
Dealerships as of July 31, 2021, and related unaudited combined statement of operations of the New York Metro Real Estate &
Dealerships for period ended July 31, 2021.

 

“Financing Sources”
means (a) the Persons who have provided, provide or will provide the Debt Financing, including any Persons named in any debt commitment
letters, joinder agreements, indentures or credit agreements or similar agreements entered into in connection therewith or relating thereto
and (b) each such Persons’ Affiliates, officers, directors, employees and representatives, advisors, counsels and consultants
and their successors and assigns.

 

“Fixed Assets”
means all fixed assets owned and used in the Business, including furniture, shop equipment, parts and accessories, equipment, machinery,
lifts, compressors, alignment racks, computer equipment, in each case used in the Business and located at the Transferred Real Property;
provided, however, it shall exclude all other leasehold improvements, and other Real Property improvements (including any
construction in progress) and vehicles of any type.

 

“Fixed Assets Price”
means the aggregate value of all Fixed Assets, calculated in accordance with the Purchase Price Calculation/Accounting Principles.

 

“Fraud”
shall mean an actual and intentional fraud by a Person with respect to the making of the representations and warranties made pursuant
to Article IV or Article V, as applicable; provided, that at the time such representation or warranty
was made (a) such representation or warranty was materially inaccurate, (b) such Person had actual knowledge (and not imputed
or constructive knowledge), without any duty of inquiry or investigation, of the material inaccuracy of such representation or warranty,
(c) such Person had the specific intent to deceive another Person to enter into this Agreement and (d) the other Person has
acted in justifiable reliance to its detriment on such materially inaccurate representation or warranty and suffered or incurred financial
injury or other damages as a result of such reliance; provided that, with respect to the representations and warranties of the
Seller Parties contained in Article IV, the phrase “by a Person” in the preceding clause shall only include the
individuals set forth on Section 1.01(d) of the Disclosure Letter under the caption “Knowledge of the Sellers”
in their respective capacities as employees and/or officers of the applicable Seller Parties. For the avoidance of doubt, “Fraud”
shall not include any claim for equitable fraud, promissory fraud or any tort (including a claim for fraud) based on negligence, recklessness
or a similar theory under Delaware law.

 

“GAAP” means
generally accepted accounting principles in the United States.

 

“Governmental Authority”
means any government, court, regulatory, taxing or administrative agency, commission or authority or other legislative, executive or
judicial governmental entity (in each case including any self-regulatory organization), whether federal, state or local, domestic, foreign
or multinational.

 

    7

     

    

 

“Hazardous Materials”
means any material, substance, chemical, or waste (or combination thereof) that is listed, defined, designated, regulated or classified
as hazardous, toxic, radioactive, dangerous, a pollutant, a contaminant, petroleum, oil, or words of similar meaning or effect under,
or as to which liability might arise pursuant to, any Environmental Law, including, but not limited to, asbestos or asbestos containing
materials, radioactive materials, lead, polychlorinated biphenyls, per and polyfluoroalkyl substances, petroleum or petroleum products,
solid waste, toxic mold, and radon gas.

 

“Highline”
means Highline Management, Inc., an Affiliate of the Seller Group. “Holdback Amount” means an amount equal to
$45 million subject to a proportionate reduction for any ROFR Assets.

 

“HSR Act”
means the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the rules and regulations promulgated thereunder.

 

“Income Taxes”
means any income, capital gains, franchise and similar Taxes.

 

“Indebtedness”
means, with respect to any Person, without duplication, and including all accrued and unpaid interest thereon, premiums and penalties
or other amounts owing in respect of: (a) all indebtedness of such Person for borrowed money, (b) all obligations of such Person
evidenced by notes, bonds, debentures or other similar instruments, (c) all reimbursement obligations of such Person under letters
of credit, bank guarantees or similar facilities, but only to the extent drawn upon, (d) all obligations of such Person as lessee
that are capitalized in accordance with GAAP; provided, that none of the Transferred Real Property Leases shall be deemed to be
leases required to be capitalized for purposes of this Agreement and shall be treated as operating leases hereunder, (e) all obligations
of such Person issued or assumed as the deferred purchase price of property, all conditional sale obligations of such Person and all
obligations of such Person under any title retention agreement, (f) all obligations of such Person under interest rate or currency
swap transactions or commodity hedges (valued at the termination value thereof), (g)
all Indebtedness of any other Person referred to in clauses (a) through (f) above the
payment of which such first Person is responsible or liable, directly or indirectly, as obligor, guarantor, surety or otherwise, including
guarantees of such obligations. For avoidance of doubt, Indebtedness shall not include any (1) reimbursement obligations for
finance, insurance and other aftermarket products (also known as “chargebacks”) sold by the Seller Group prior to the Closing
Date (“Chargebacks”) or (2) We Owes.

 

“Independent Expert”
means Dixon Hughes Goodman LLP, or if such Person is unable or unwilling to serve or is no longer independent from each of the parties
at the time of its appointment, another nationally recognized independent public accounting firm reasonably agreed upon by the Purchaser
and the Sellers in writing.

 

    8

     

    

 

“Information Security
and Privacy Requirements” means (a) all applicable Laws concerning the privacy, data protection or security of Personally
Identifiable Information or the Selling Entities or Transferred Entities’ IT Systems or data, including the following Laws and
their implementing regulations, in each case to the extent applicable: the Health Insurance Portability and Accountability Act, the CAN-SPAM
Act, the Telephone Consumer Protection Act, state data security Laws, state data breach notification Laws, and Laws governing online
marketing or telemarketing; (b) the Selling Entities’ and Transferred Entities’ privacy policies; (c) the requirements
of any agreements or codes of conduct to which the Selling Entities or Transferred Entities are bound related to the processing of Personally
Identifiable Information or the security of the Selling Entities’ and Transferred Entities’ IT Systems or data; and (d) the
Payment Card Industry Data Security Standards and, to the extent the Selling Entities or Transferred Entities purport to adhere to any
other industry standards, such other industry standards.

 

“Insured Transferred
Real Property” means those parcels of Transferred Real Property with respect to which the Purchaser elects to purchase title
insurance at Closing.

 

“Intellectual Property”
means all industrial and intellectual property rights of any kind, including rights in and to: (a) patents and patent applications,
together with all reissuances, divisionals, revisions, extensions, reexaminations, provisionals, continuations and continuations- in-part
with respect thereto (collectively, “Patents”), (b) trademarks, service marks, trade names, service names, trade
dress, logos, internet domain names, and other identifiers of source, and all applications, registrations and renewals therefor, together
with the goodwill associated with any of the foregoing (collectively, “Trademarks”), (c) all copyrights, database
rights, and other rights in works of authorship, and all applications and registrations therefor (collectively, “Copyrights”),
and (d) trade secrets and other proprietary information and know-how.

 

“Intellectual Property
Assignment Agreement” means the intellectual property assignment agreement to be entered into between the applicable Selling
Entities and the Purchaser with respect to the assignment of the Transferred Intellectual Property to the Purchaser, in substantially
the form attached hereto as Exhibit D.

 

“IRS” means the U.S. Internal Revenue Service.

 

“IT Systems”
means (a) all computing and/or communications systems and equipment, including any internet, intranet, extranet, e-mail, or voice
mail systems and the hardware associated with such systems; (b) all software, the tangible media on which it is recorded (in any
form) and all supporting documentation, data and databases; and (c) all peripheral equipment related to the foregoing, including
printers, scanners, switches, routers, network equipment, and removable media.

 

“Knowledge”
means (a) with respect to the Purchaser for any matter in question, the actual knowledge of the individuals listed on Section 1.01(d) of
the Disclosure Letter under the caption “Knowledge of the Purchaser” and (b) with respect to the Seller Parties for
any matter in question, the actual knowledge of the individuals listed on Section 1.01(d) of the Disclosure Letter under the
caption “Knowledge of the Sellers”.

 

“Liabilities”
means any debts, damages, fines, liabilities, obligations, commitments or claims (whether direct or indirect, accrued or unaccrued, known
or unknown, fixed or contingent, matured or unmatured, disputed or undisputed, liquidated or unliquidated, due or to become due, determined
or determinable or otherwise, and whether in contract, tort, strict liability or otherwise) and including all costs and expenses relating
thereto (including all fees, disbursements and expenses of legal counsel, experts, engineers and consultants and costs of investigation).

 

    9

     

    

 

“Lien” means
any pledge, lien, charge, encumbrance, security interest, option, hypothecation, mortgage, deed of trust, reservation, conditional sale
or other title retention agreement, easement, right-of-way, servitude, restrictive covenant or any other similar restriction or limitation,
and whether arising by Contract, Law or otherwise.

 

“Loaner Vehicles”
means each of the Selling Entities’ vehicles that are either untitled or registered in any Manufacturer loaner vehicle program
(e.g., “TRAC”).

 

“Loss” means
any loss, Liability, Tax, damage, penalty, fine, judgment, suit, action, cause of action, assessment, award, cost or expense (including
amounts paid in settlement or compromise) incurred or suffered, including reasonable legal fees and expenses (including reasonable costs
of investigation and defense and reasonable attorneys’ and other professionals’ fees), whether or not involving a third-party
claim.

 

“Manufacturer” means any Person set forth
on Section 1.01(e) of the Disclosure Letter.

 

“Manufacturer
Agreement” means any framework agreement, dealer agreement, retailer agreement, letter agreement, franchise agreement, sales
and service agreement or security agreement between a Manufacturer and a Selling Entity or Transferred Entity, as applicable (or, with
respect to Section 3.02, the Purchaser or any of its Affiliates).

 

“Manufacturer Parts
and Accessories” means all of the Selling Entities’ inventory of parts and accessories from the Manufacturers held for
sale at the Dealerships.

 

    10

     

    

 

“Material Adverse
Effect” means any effect, change, occurrence, circumstance or event that has, individually or in the aggregate, a material
adverse effect on the business, results of operations or financial condition of the Business, the Purchased Assets and the Transferred
Entities, taken as a whole; provided, however, that no effect, change, occurrence, circumstance or event arising out of,
attributable to, or resulting from, the following matters (either alone or in combination) shall constitute or (except as expressly described
below) be taken into account in determining whether a Material Adverse Effect has occurred, is continuing or would reasonably be expected
to occur: (a)(i) the economic, business, financial, political or regulatory environment generally affecting the industry in which
the Business operates or (ii) the economy, credit or financial or capital markets, in the United States or elsewhere in the world,
including changes or prospective changes in interest or exchange rates, commodity prices, monetary policy or inflation or in government
spending and budgets (including any government shutdown), or (b)(i) changes or prospective changes in Law or in GAAP or in accounting
standards, or any changes or prospective changes in the interpretation or enforcement of any of the foregoing, (ii) the negotiation,
execution, announcement or performance of this Agreement or the other Transaction Documents or the consummation or the pendency of the
Transactions, including the impact thereof on relationships, contractual or otherwise, with customers, Manufacturers, suppliers, distributors,
partners, employees or regulators, or any Action arising from or relating to this Agreement, any other Transaction Document or the Transactions
(provided, that the provisions of this clause (ii) shall not apply to the representations and warranties in Section 4.02(b) or
Section 4.03)), (iii) acts of war (whether or not declared), military activity, sabotage, cyber-intrusion, civil disobedience
or domestic or international terrorism, or any escalation or worsening or de-escalation or improvement thereof, (iv) pandemics (including
COVID-19), epidemics, disease outbreaks or other public health conditions (or COVID-19 Measures or other restrictions that relate to,
or arise out of, a pandemic, epidemic or disease outbreak), earthquakes, floods, hurricanes, wildfires, blackouts, tornados or other
natural disasters, weather-related events, or any similar force majeure events, or any escalation or worsening in each case thereof,
(v) any action taken by the Seller Group that is required by this Agreement or any other Transaction Document or taken at the Purchaser’s
written request, or the failure to take any action by the Seller Group if that action is not permitted by this Agreement or any other
Transaction Document, (vi) any change resulting or arising from the identity of, or any facts or circumstances relating to, the
Purchaser or any of its Affiliates, (vii) any change or prospective change in the credit ratings of the Seller Group or any of their
Affiliates, (viii) any failure by the Business to meet any internal or external projections or forecasts for any period (it being
understood that the exceptions in clauses (vii) and (viii) shall not prevent or otherwise affect a determination that the underlying
cause of any such failure (if not otherwise falling within any of the exceptions provided by clause (a) and clauses (b)(i) 
through (vi) hereof) is a Material Adverse Effect) or (ix) any provision by any Manufacturer of any termination or divestment
notices with respect to any Manufacturer Agreement (or enforcement of any such notices previously received by the Seller Group or its
Affiliates) or any notice of exercise or intent to exercise any right of first refusal or similar right; provided further that
any effect, change or event referred to in clause (a) may be taken into account in determining whether there has been a Material
Adverse Effect to the extent such effect, change or event has a material disproportionate adverse effect on the Business, the Purchased
Assets and the Transferred Entities, taken as a whole, as compared to other participants in the industry in which the Business operates
(in which case only such incremental disproportionate impact or impacts may be taken into account in determining whether there has been
a Material Adverse Effect).

 

“Material Environmental
Defect” means, at any individual piece of the Transferred Real Property or any operations thereon, a condition or occurrence
on or before the date of this Agreement that is identified as a result of any Environmental Assessment activities conducted by or on
behalf of the Purchaser and indicates either (i) any violation of or noncompliance with Environmental Laws; or (ii) a liability
or obligation under applicable Environmental Law to perform any investigation, remediation, monitoring, corrective or curative action,
treatment, clean- up, abatement, containment, removal, mitigation, or response or restoration work with respect to Hazardous Materials,
taking into consideration the use of the property by the Business as of the date hereof (excluding any Permitted Lien) for which the
aggregate Material Environmental Defect Estimated Costs to cure such condition(s) or defect(s) exceeds $250,000; provided,
only a condition or defect that individually exceeds $25,000 shall be considered in the calculation of the whether the $250,000 threshold
is met.

 

“Material Environmental
Defect Estimated Costs” means the reasonable estimated costs associated with a Material Environmental Defect.

 

    11

     

    

 

“Material Transferred
Real Property Lease” means any Transferred Real Property Lease that (i) covers or is for the principal premises of a Dealership,
or (ii) is for a parking lease or license that is necessary to meet manufacturer guidelines under a Manufacturer Agreement.

 

“New Vehicles”
means each of the Selling Entities’ new, untitled, unregistered and unused 2021 and subsequent model years Manufacturer vehicles
including vehicles in transit.

 

“Non-Manufacturer
Parts and Accessories” means all of the Selling Entities’ inventory of parts and accessories (other than those that are
Manufacturer Parts and Accessories) held for sale at the Dealerships.

 

“Owned Real Estate
Price” means the aggregate value of all Transferred Owned Real Property (including, for avoidance of doubt, all Transferred
Owned Real Property owned by Transferred Entities), calculated in accordance with the Purchase Price Calculation/Accounting Principles.

 

“Payoff Letters”
means customary payoff letter(s) provided by the Seller Group prior to the Closing Date, signed by the Persons to which the Closing
Debt is payable (or an agent or trustee on behalf of such Persons), setting forth (a) the amount required to pay off in full at
the Closing all amounts owing in connection with such Indebtedness (including, but not limited to, the outstanding principal, accrued
and unpaid interest and prepayment and other penalties); (b) wire transfer instructions for the payment of such amounts; and (c) the
commitment to release any and all Liens that such Person may hold on any of the Purchased Assets secured by such Closing Debt within
a designated time period after the Closing Date upon receipt of the payoff amount set forth therein.

 

“Permitted Lien”
means (a) Liens for Taxes, assessments or other charges by Governmental Authorities not yet due and delinquent or, if delinquent,
the amount or validity of which is being contested in good faith and by appropriate proceedings and for which appropriate reserves have
been established under GAAP, (b) mechanics’, materialmen’s, carriers’, workmen’s, warehouseman’s,
repairmen’s, landlords’ and similar Liens granted or which arise in the ordinary course of business and are not otherwise
material or that are not yet delinquent or where the amount or validity of which is being contested in good faith and by appropriate
proceedings and for which appropriate reserves have been established under GAAP, (c) with respect to Real Property, (i)
Liens, conditions and restrictions under leases, subleases, licenses or occupancy agreements that
are disclosed in the Disclosure Letter, including statutory Liens of landlords thereunder, (ii)
Liens not created by any member of the Seller Group that affect the underlying fee interest of any leased Real Property, including
any master leases or ground leases, (iii) minor defects or imperfections of title, easements, declarations, covenants, conditions,
rights-of-way, permits, licenses, reciprocal easement agreements, encroachments and other similar restrictions; provided, that
any such items do not and would not reasonably be expected to materially (A) interfere with the present use of the related Real
Property or (B) impair the value of such Real Property, (iv) requirements of zoning, entitlement, building, land use
and other similar Laws, or (v) any matters or set of facts that an up-to-date survey or inspection would show that do not and would
not reasonably be expected to materially (A) interfere with the present use of the related Real Property or (B) impair the
value of such Real Property, (d) Liens created by or for the benefit of the Purchaser or any of its Affiliates, (e) Liens discharged
at or prior to the Closing (provided that such Liens shall not constitute “Permitted Liens” from and after Closing),
(f) Liens incurred or deposits made in the ordinary course of business in connection with workers’ compensation, unemployment
insurance or other types of social security, (g) Liens arising under equipment or personal property leases with third parties entered
into in the ordinary course of business, (h) purchase
options, rights of first refusal and other Liens (including certain rights of set-off and title retention), as applicable, in favor of
a Manufacturer arising under a Manufacturer Agreement or the documents executed and delivered in connection with any of the foregoing
in this clause (h), (i) with respect to the Transferred Interests, transfer
restrictions under applicable securities Laws or under the organizational documents of the Transferred Entities, (j) non-exclusive
licenses with respect to Intellectual Property, (k) Liens in the ordinary course of business to secure floorplan financing and (l) those
Liens set forth on Section 1.01(f) of the Disclosure Letter; provided, however, that no mortgages, deeds of trust,
security interests, judgment Liens, Liens for Taxes (other than Liens for Taxes not yet due and delinquent or, if delinquent, the amount
or validity of which is being contested in good faith and by appropriate proceedings), mechanics’, materialmen’s, carriers’,
workmen’s, warehouseman’s, repairmen’s, landlords’ and similar Liens (other than Liens described in clause (b) of
this definition) or any other monetary Liens encumbering any Transferred Owned Real Property or encumbering the leasehold interest of
any member of the Seller Group in any Transferred Leased Real Property shall be deemed or considered a Permitted Lien to the extent not
fully released and satisfied at or prior to Closing.

 

    12

     

    

 

“Person”
means an individual, corporation, limited liability company, partnership, joint venture, association, trust, unincorporated organization
or any other entity, including a Governmental Authority.

 

“Personally Identifiable
Information” means any information relating to an identified or identifiable natural person and any other information that
is considered “personally identifiable information,” “personal information,” or “personal data” under
applicable privacy, data protection or security Laws.

 

“Purchase Price Calculation/Accounting
Principles” means the principles set forth on Exhibit A and, to the extent not inconsistent therewith, GAAP, using
and applying the same accounting principles, practices, procedures, policies and methods (with consistent classification, judgments,
elections, inclusions, exclusions, and valuation and estimation methodologies) used and applied by the Seller Group in the preparation
of the applicable Financial Statements; provided that if such accounting principles, practices, procedures, applicable policies
and methods used and applied by the Seller Group in the preparation of the applicable Financial Statements and GAAP are inconsistent,
the accounting principles, practices, procedures, policies and methods used and applied by the Seller Group (to the extent that the differences
between GAAP and such principles, practices, procedures, policies or methods is clearly and expressly set forth in Exhibit A
or otherwise described in the Financial Statements) in the preparation of the applicable Financial Statements shall control; provided
further that the Purchase Price Calculation/Accounting Principles (a) shall not include any purchase accounting or other adjustment
arising out of the consummation of the Transactions and (b) shall be based on facts and circumstances as they exist as of immediately
prior to the Closing and shall exclude the effect of any act, decision or event occurring on or after the Closing and (c) shall
follow the defined terms contained in this Agreement.

 

    13

     

    

 

“Purchaser Fundamental
Representations” means Section 5.01 (Organization; Standing), Section 5.02(a) (Authority; Noncontravention)
and Section 5.07 (Brokers and Other Advisors).

 

“Real Property”
means all land, buildings and other structures, facilities or improvements located thereon and all easements, licenses, rights and appurtenances
relating to the foregoing.

 

“Records”
means all books and records, including all environmental assessments, audit reports, studies, and similar or related documentation and
correspondence addressing potentially material environmental Liabilities relating to the Business or operations thereof or the Purchased
Assets and all Tax records, Tax Returns and Tax related work papers, books of account, stock records and ledgers, financial, accounting
and personnel records, invoices, customers’ and suppliers’ lists, customer sales, lease, finance and service records (both
hard copy and electronic format, including deal jackets), other distribution lists, sales and purchase records and operating, production
and other manuals, in any form or medium.

 

“Release”
means any releasing, depositing, spilling, pumping, pouring, placing, emitting, discarding, abandoning, emptying, discharging, migrating,
injecting, escaping, leaching, dumping, or disposing into the indoor or outdoor environment.

 

“Representatives”
means, with respect to any Person, its officers, directors, employees, consultants, agents, financial advisors, investment bankers, attorneys,
accountants, other advisors and other representatives.

 

“Required Information”
means (a) with respect to GPB Prime Holdings, LLC and its subsidiaries, (i) audited consolidated balance sheets and related
consolidated statements of income, members’ capital and cash flows for the three most recently completed fiscal years ended at
least 90 days prior to the Closing Date, (ii) unaudited consolidated balance sheets and related consolidated statements of operations
and cash flows for each interim fiscal quarter ended since the last audited financial statements and at least 45 days prior to the Closing
Date and (iii) internal consolidated balance sheets and related consolidated statements of income and cash flows for each interim
fiscal month ended since the last quarterly financial statements and at least 30 days prior to the Closing Date and (b) with respect
to the New York Metro Dealerships, (i) audited combined balance sheet and related combined statements of income, members’
equity and cash flows as of and for the year ended December 31, 2020 and any additional completed fiscal years ended at least 90
days prior to the Closing Date, (ii) unaudited combined balance sheets and related combined statement of operations for each interim
fiscal quarter ended since the last audited financial statements and at least 45 days prior to the Closing Date and (iii) internal
combined balance sheets and related combined statements of operations for each interim fiscal month ended since the last quarterly financial
statements and at least 30 days prior to the Closing Date.

 

“Retained Businesses”
means all businesses, operations and activities directly or indirectly conducted or formerly conducted by the Seller Group other than
the Business (including all businesses, operations and activities related to any dealerships sold or disposed of prior to the date hereof).

 

    14

     

    

 

“ROFR Assets”
means any Dealership and the Purchased Assets related thereto (including any Transferred Real Property related thereto and the Transferred
Interests of any Transferred Entity that owns or leases such Transferred Real Property) that are subject to a right of first refusal
or similar right that would restrict, prohibit or delay the transfer of such Dealership and related Purchased Assets to the Purchaser.

 

“ROFR Notice”
means a notice of exercise of a right of first refusal or similar right by the applicable Manufacturer that complies with the terms of
the applicable Manufacturer Agreement and is received by the Seller Group prior to the Closing Date with respect to any ROFR Assets.

 

“SEC Monitor”
means Joseph T. Gardemal III, in his capacity as the court- appointed monitor over defendant GPB Capital Holdings, LLC pursuant to the
Order Appointing Monitor dated February 11, 2021 [Dkt. No. 23], as amended on April 14, 2021 [Dkt. No. 39],
in SEC v. GPB Capital Holdings LLC, et al., No. 21-cv-00583-MKB-VMS, in the United States District Court Eastern District
of New York.

 

“Seller Benefit Plan”
means any “employee pension benefit plan” (as defined in Section 3(2) of ERISA, whether or not subject to ERISA),
 “employee welfare benefit plan” (as defined in Section 3(1) of ERISA, whether or not subject to ERISA) or bonus,
pension, profit sharing, deferred compensation, incentive compensation, stock or other equity ownership, stock or other equity purchase,
stock or other equity appreciation, restricted stock or other equity, stock or other equity repurchase rights, stock or other equity
option, phantom stock or other equity, performance, employment, change in control, retirement, vacation, severance, disability, death
benefit, hospitalization, medical or other plan, agreement, arrangement or understanding, in each case, (a) that is sponsored, contributed
to or maintained by (i) any Transferred Entity or (ii) any other member of the Seller Group or (b) with respect to which
any Transferred Entity could reasonably be expected to have any Liability, and, in each case, in which any Business Employee participates.

 

“Seller Fundamental
Representations” means Section 4.01 (Organization; Standing), Section 4.02(a) (Authority; Enforceability;
Noncontravention), Section 4.04 (Capitalization; Title to Transferred Interests); and Section 4.20 (Brokers and
Other Advisors).

 

“Seller Group”
means, collectively, (a) the Sellers and each of their respective direct and indirect Subsidiaries and (b) the Real Estate
Equity Seller and each of its direct and indirect Subsidiaries that are Transferred Entities.

 

“Seller Taxes”
means (a) any and all Income Taxes imposed by any applicable Law on the Seller Group, any of the Seller Group’s direct or
indirect owners or Affiliates or any consolidated, affiliated, combined or unitary group of which any of the foregoing is or was a member,
(b) any and all Taxes allocable to the Seller Parties pursuant to Section 7.11 (taking into account, and without duplication
of, such Taxes effectively borne by the Seller Parties as a result of (i) any Taxes taken into account in the computation of Closing
Current Liabilities and (ii) any payments made from one party to the other in respect of Taxes pursuant to Section 7.11(b)(iii)),
(c) any and all Taxes resulting
from a breach of the representations and warranties set forth in Section 4.11 (determined without regard to any materiality
or Knowledge qualifiers or any scheduled items) or a breach by the Seller Parties of any covenant set forth in Section 6.01(b)(ix),
(d) any and all Taxes imposed on or with respect to the ownership or operation of the Excluded Assets or
that are attributable to any asset or business of the Seller Parties that is not part of the Purchased Assets and (e) any and all
Taxes (other than the Taxes described in clauses (a), (b) or (c) of this definition) imposed on or with respect to the
ownership or operation of the Purchased Assets, the Transferred Entities or the Business for any taxable period (or portion of any Straddle
Period) ending before the Closing Date (determined by applying the Tax Allocation Principles).

 

    15

     

    

 

“Selling Entities”
means, collectively, the members of the Seller Group that own or have rights to or under any Purchased Assets or Transferred Interests
or that have Liabilities in respect of, or that are otherwise subject to, any Assumed Liabilities, and “Selling Entity”
means any of the Selling Entities.

 

“SNDA” means
a subordination, non-disturbance and attornment agreement, executed by the holder of a fee simple mortgage or deed of trust encumbering
the fee simple interest of the applicable landlord, sublandlord or licensor under a Transferred Real Property Lease, or by the holder
of any master leases or ground leases of the underlying fee interest of any Real Property subject to a Transferred Real Property Lease,
as the case may be, in the form requested by the Purchaser or by the Purchaser’s lenders, or in the form required by such applicable
Transferred Real Property Lease, as the case may be.

 

“Straddle Period”
means any Tax period beginning before and ending on or after the Closing Date.

 

“Subsidiary”
or “Subsidiaries” when used with respect to any Person, means any corporation, limited liability company, partnership,
association, trust or other entity of which securities or other ownership interests representing more than 50% of the ordinary voting
power (or, in the case of a partnership, more than 50% of the general partnership interests) are, as of such date, owned by such Person
or one or more Subsidiaries of such Person or by such Person and one or more Subsidiaries of such Person.

 

“Supplies”
means all of the Selling Entities’ miscellaneous supply inventories constituting indirect materials used or usable in vehicle sales
and service operations (including but not limited to the parts catalog, gas, oil and grease) but not held for sale, specifically excluding
Manufacturer Parts and Accessories and Non-Manufacturer Parts and Accessories.

 

“Tax” or
 “Taxes” means (a) any taxes, assessments, fees, and other charges of any kind or nature whatsoever imposed by
any Governmental Authority, including income, profits, gross receipts, net proceeds, alternative or add on minimum, ad valorem, value
added, turnover, sales, use, property, personal property (tangible and intangible), environmental, stamp, leasing, lease, user, excise,
duty, franchise, capital stock, transfer, registration, license, withholding, social security (or similar), unemployment, disability,
payroll, employment, social contributions, fuel, excess profits, occupational, premium, windfall profit, severance, estimated, or other
taxes, together with any interest, fines, penalty, additions to or additional amounts imposed by any Governmental Authority with respect
thereto or with respect to any Tax Return, whether disputed or not, and (b) any liability in respect of any item described in clause
(a) that arises by reason of a contract, assumption, transferee or successor liability, the operation of Law (including by participating
in a consolidated, affiliated, combined or unitary Tax Return) or otherwise.

 

    16

     

    

 

“Tax Action”
means any audit, examination, contest, litigation or other proceeding with respect to Taxes with or against any Governmental Authority.

 

“Tax Allocation Principles”
means the Tax allocation principles set forth in Section 7.11(b)(ii).

 

“Tax Return”
means any return (including any return of a consolidated, affiliated, combined or unitary group), form, statement, report, information
return, disclosure, claim or declaration, including any supplement, schedule or attachment thereto and any amendment thereof, with respect
to Taxes that is filed or required to be filed with a Governmental Authority.

 

“Technology”
means technology, accounts on third-party platforms and other embodiments of Intellectual Property, including (a) social media,
directory assistance, reputation management and e-commerce sites and accounts (including eBay, Facebook, Instagram, Twitter, Yelp,
DealerRater, Edmunds and Google programs), and (b) computer software, data, documentation, telephone and data numbers, website addresses,
and e-mail addresses.

 

“Tires”
means all of the Selling Entities’ inventory of tires held for sale at the Dealerships, specifically excluding Manufacturer Parts
and Accessories, Non-Manufacturer Parts and Accessories, and Supplies.

 

“Title Insurance Company”
mean a title insurance company and underwriter selected by the Purchaser.

 

“Title Policies”
means, collectively, ALTA “extended coverage” owner’s and lender’s policies of title insurance, with such endorsements
as may be reasonably required by the Purchaser or its lenders (to the extent the same are available in the applicable jurisdiction),
and otherwise in form and substance reasonably satisfactory to the Purchaser or its lenders, as the case may be (including coverage amount
and deletion of the “gap” exception for matters arising between the effective date of the title commitment and the Closing
Date), effective as of the Closing Date, insuring, as the case may be, the applicable Selling Entity or Transferred Entity member’s
good and marketable fee simple or leasehold title to the applicable parcel of Insured Transferred Real Property, or the Lien of any mortgage
or deed of trust in favor of the Purchaser’s lenders encumbering the Insured Transferred Real Property, in each case free and clear
of all Liens, except for Permitted Liens of these types described in items (c) and (d) of the definition of “Permitted
Liens”, and with the standard printed exceptions endorsed or modified to the reasonable satisfaction of the Purchaser and its lenders.

 

“Transaction Documents”
means, collectively, this Agreement and the agreements and instruments executed and delivered in connection with the Transactions, including
the Ancillary Agreements and the other documents and agreements contemplated hereby and thereby.

 

“Transactions”
means the consummation of the purchase and sale of the Purchased Assets (including the Transferred Interests) and the assumption of the
Assumed Liabilities and the other transactions contemplated by this Agreement and the other Transaction Documents.

 

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“Transferred Employee”
means each Business Employee who, as of the Closing Date and each Delayed Business Employee who, as of the applicable Delayed Closing
(or, in each case, if applicable, such later date that such employee commences employment with the Purchaser or one of its Affiliates),
has received an offer of employment from the Purchaser or one of its Affiliates pursuant to Section 7.06(b), and has accepted
such offer (or has not expressly rejected such offer) and assumed employment with the Purchaser or its Affiliate.

 

“Transferred Entities”
means each of AMR Real Estate Holdings, LLC, 510 Sunrise Realty, LLC, 3670 Oceanside Realty, LLC and 1855 Hylan Realty, LLC.

 

“Transferred Interests”
means the issued and outstanding equity interests in the Transferred Entities held by the Selling Entities.

 

“Transferred Pre-Closing
Contractual Liabilities” means Liabilities of any Selling Entity under any Transferred Contract to the extent arising out of
breaches or violations by the applicable Selling Entity of such Transferred Contract to the extent occurring prior to the Closing Date,
including any Liability relating to a suit, proceeding, demand or claim brought after the Closing Date with respect to such breaches
or violations by the Selling Entity occurring prior to the Closing Date, but excluding in all cases any breaches or violations arising
out of, caused by or related to the negotiation, execution, delivery or performance of this Agreement, the Transaction Documents or the
consummation of the Transactions.

 

“Transferred Real
Property Lease Consents” means Consents, in each case in form and substance reasonably acceptable to the Purchaser, from the
respective landlord, sublandlord or licensor under each of the Transferred Real Property Leases, consenting to the assignment or deemed
assignment of such Transferred Real Property Lease as a result of the consummation the Transactions.

 

“Used Vehicles”
means each of Selling Entities’ vehicles, other than New Vehicles, Demonstrator Vehicles, Loaner Vehicles and vehicles used by
the Seller Group in its operations or titled in the name of a Selling Entity.

 

“We Owes”
means any obligations of any Dealership relating to (i) parts, accessories, or services due a customer where the Dealership has
taken one or more of the following actions: (A) promised in writing on a Delivery Receipt/Accessories Due Form (or similar
form) such part, accessory, service, or repair to the customer at the time of vehicle purchase; (B) received payment from a customer
for a part or accessory order that is not in stock; or (C) scheduled a future repair for a customer and received payment for the
repair in advance or (ii) any Marketing Program.

 

“Work in Process”
means pending service orders written by Selling Entities in relation to the Business in the ordinary course of business.

 

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SECTION 1.02.     Other
Defined Terms. The following terms are defined on the page of this Agreement set forth after such term below:

 

	Terms
    Not Defined in Section 1.01	Section
	Acquisition Engagement	Section 11.11(a)
	Action	Section 4.09
	Affiliate Agreement	Section 4.18(a)(vii)
	Agreement	Preamble
	Allocation	Section 3.05(a)
	Alternative Financing	Section 7.18(d)
	Announcement	Section 7.02
	Assignment of Interests	Section 3.04(a)(iii)
	Assumed Liabilities	Section 2.03(a)
	Bankruptcy and Equity Exception	Section 4.02(a)
	Bill of Sale and Assignment and Assumption Agreement	Section 3.04(a)(i)
	Chargeback Reserve	Section 7.23
	Closing	Section 3.01
	Closing Amounts	Section 2.01(b)(xviii)
	Closing Date	Section 3.01
	Closing Purchase Price	Section 2.01(b)
	Closing Statement	Section 2.01
	COBRA	Section 7.07
	COBRA Recipients	Section 7.07
	Collective Bargaining Agreements	Section 4.13(a)
	Confidentiality Agreement	Section 7.03(i)
	Continuation Period	Section 7.06(c)(i)
	Contracting Parties	Section 11.10(a)
	Credit Support Items	Section 7.13
	Customer Deposits	Section 2.02(a)(xiii)
	Debt Commitment Letter	Section 5.04(b)
	Delayed Closing	Section 3.02
	Delayed Closing Date	Section 3.02
	Delayed Closing Dealership	Section 3.02
	Delayed Closing Purchased Assets	Section 3.02
	Delayed Purchased Asset	Section 2.04(a)
	Delayed Purchased Asset Arrangement	Section 2.04(a)
	Deposit	Section 2.10
	Deposit Interest	Section 2.10
	Disclosure Letter	Article IV
	Disputed Environmental Matters	Section 7.03(g)
	DOJ	Section 7.01(c)
	Environmental Consultant	Section 7.03(g)
	Environmental Defect Notice	Section 7.03(c)
	Environmental Laws	Section 4.14(a)
	Escrow Account	Section 2.09(b)
	Escrow Option	Section 7.03(c)

 

    19

     

    

 

	Terms
    Not Defined in Section 1.01	Section
	Excess COBRA Liabilities	Section 7.07
	Excess Recovery	Section 10.09(a)
	Excluded Assets	Section 2.02(b)
	Excluded Contracts	Section 2.02(b)(iii)
	Excluded Liabilities	Section 2.03(b)
	Executive Employees	Section 7.06(b)
	Existing Counsel	Section 11.11(a)
	Final Closing Amounts	Section 2.07(e)
	Final Purchase Price Adjustment	Section 2.07(e)
	FTC	Section 7.01(c)
	Goodwill Price	Section 2.01(b)(i)
	Holdback Amount Termination Date	Section 2.09(b)
	Holdback Partial Release Date	Section 2.09(b)
	HSR Approval	Section 7.01(b)
	Inactive Employee	Section 7.06(b)
	Indemnified Party	Section 10.04(a)(i)
	Indemnifying Party	Section 10.04(a)(i)
	Judgment	Section 4.09
	Laws	Section 4.10(a)
	Manufacturer Approval	Section 3.02
	Marketing Programs	Section 4.17(b)
	Master Price List	Exhibit A
	Material Business Contract	Section 4.18(a)
	MMR Value	Exhibit A
	Multiemployer Plan	Section 4.12(d)
	Nonparty Affiliates	Section 11.10(a)
	Notice of Disagreement	Section 2.07(a)
	Other Holdback Partial Release Date	Section 2.09(b)
	Permits	Section 4.10(b)
	PPP	Section 7.22
	Pre-Closing Insurance Claims	Section 7.05
	Preliminary Environmental Holdback	Section 7.03(d)
	Price Reduction Option	Section 7.03(c)
	Property Review Period	Section 7.03(b)
	Purchased Assets	Section 2.02(a)
	Purchaser	Preamble
	Purchaser Consultant	Section 7.03(b)
	Purchaser Indemnitees	Section 10.02
	Purchaser Parties’ Appraisal	Exhibit A
	Real Property Deposits	Section 2.02(a)(xiii)
	Real Estate Equity Seller	Preamble
	Restraints	Section 8.01(a)
	Revised Closing Statement	Section 2.07(a)
	Securities Act	Section 5.06
	Seller Indemnifying Parties	Section 10.07

 

    20

     

    

 

	Terms
    Not Defined in Section 1.01	Section
	Seller Indemnitees	Section 10.03
	Seller Parties	Preamble
	Seller Parties’ Appraisal	Exhibit A
	Seller Parties’ Election	Section 7.03(c)
	Sellers	Preamble
	Solvent	Section 5.05
	Termination Date	Section 9.01(b)(i)
	Third Party Claim	Section 10.04(a)(i)
	Third Party Leases	Section 4.16(b)
	Transfer Taxes	Section 7.11(a)
	Transferred Contracts	Section 2.02(a)(ix)
	Transferred Entity Marks	Section 7.20
	Transferred Intellectual Property	Section 2.02(a)(viii)
	Transferred Leased Real Property	Section 2.02(a)(i)
	Transferred Owned Real Property	Section 2.02(a)(i)
	Transferred Permits	Section 2.02(a)(vi)
	Transferred Real Property	Section 2.02(a)(i)
	Transferred Real Property Leases	Section 2.02(a)(i)
	Transferred Records	Section 2.02(a)(vii)
	Transferred Registered Intellectual Property	Section 4.15(a)
	Used Vehicle Schedule	Exhibit A
	WARN Act	Section 7.06(f)

 

SECTION 1.03.     Interpretation.

 

(a)           The
headings contained in this Agreement, in any Annex, Exhibit or Schedule hereto (including the Disclosure Letter) and in the table
of contents to this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.
All Annexes, Exhibits and Schedules attached hereto (including the Disclosure Letter) or referred to herein are hereby incorporated in
and made a part of this Agreement as if set forth in full herein. Any capitalized terms used in any Annex, Exhibit or Schedule (including
the Disclosure Letter) but not otherwise defined therein shall have the meaning defined in this Agreement.

 

(b)           The
specification of any dollar amount in any representation or warranty contained in Article IV or Article V is
not intended to imply that such amount, or higher or lower amounts, are or are not material for purposes of this Agreement or any other
Ancillary Agreement, and no party shall use the fact of the setting forth of any such amount in any dispute or controversy between or
among the parties as to whether any obligation, item or matter not described herein or included in the Disclosure Letter is or is not
material for purposes of this Agreement or any other Ancillary Agreement. Any exception or qualification set forth on the Disclosure
Letter with respect to a particular representation, warranty or covenant contained in this Agreement shall be deemed to be an exception
or qualification with respect to all other applicable representations, warranties and covenants contained in this Agreement to the extent
any description of facts regarding the event, item or matter disclosed is adequate so as to make reasonably apparent or otherwise
make the other parties reasonably aware that such exception or qualification is applicable to such other representations, warranties
or covenants whether or not such exception or qualification is so numbered or separately disclosed. The inclusion of information in any
section of the Disclosure Letter hereto shall not be construed as an admission that such information is material to the Business or the
Purchased Assets.

 

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(c)           The
definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require,
any pronoun shall include the corresponding masculine, feminine and neuter forms.

 

(d)           All
references herein to “dollars”, “U.S. Dollars” or “$” shall be deemed to be references to the lawful
money of the United States.

 

(e)           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”.

 

(f)            If
any time period for giving notice or taking action hereunder expires on a day which is not a business day, the time period shall automatically
be extended to the business day immediately following such non-business day.

 

(g)           Unless
the context requires otherwise (i) any definition of or reference or citation to any Law, Contract or other document herein shall
be construed as referring or citing to such Law, Contract or other document as from time to time amended, supplemented or otherwise modified,
including by succession of comparable successor Laws, and to the rules and regulations promulgated thereunder, (ii) any reference
herein to any Person shall be construed to include such Person’s successors and permitted assigns, (iii) the words “herein”,
 “hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety
and not to any particular provision hereof, (iv) all references herein to Articles, Sections, Annexes, Exhibits and Schedules shall
be construed to refer to Articles and Sections of, and Annexes, Exhibits and Schedules to, this Agreement, (v) this Agreement shall
be deemed to have been drafted jointly by the Purchaser and the Sellers, and this Agreement shall not be construed against any party
as the principal draftsperson hereof, (vi) the word “or” shall not be exclusive, (vii) the phrase “to the
extent” shall mean the degree to which a subject or other item extends and shall not simply mean “if”, (viii) each
accounting term set forth herein and not otherwise defined shall have the meaning accorded it under GAAP, (ix) the phrases “provided”,
 “delivered”, or “made available” or words of similar import, when used in this Agreement, shall mean that the
documents, items or information has been provided directly to the Purchaser or its Representatives or posted in the “data room”
(virtual) hosted by Datasite and established by the Sellers or their Representatives and to which the Purchaser and its Representatives
have had access prior to the date of this Agreement unless the parties otherwise agree (it being agreed that the Purchaser and its Representatives
shall be deemed to have had access to such documents, items or information where the same was provided to a limited number of the Purchaser’s
Representatives pursuant to “clean team” or other agreed upon restrictions), (x) any action or inaction by the Purchaser,
the Seller Group or any of their respective Affiliates that are reasonably necessary to respond to COVID-19, COVID-19 Measures and any
related Laws issued in connection therewith shall be deemed to be in the “ordinary course” and “consistent with past
practice” as applicable and (xi) all references herein to the “parties” are to the parties hereto and a
 “party” means the Purchaser or the Seller Parties, as applicable.

 

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ARTICLE II

 

Purchase and Sale; Assumption of Liabilities

 

SECTION 2.01. Purchase
and Sale. Upon the terms and subject to the conditions set forth in this Agreement, at the Closing (or, solely with respect to any
Delayed Closing Purchased Assets, the applicable Delayed Closing), the Seller Parties shall, and shall cause each of the other Selling
Entities to, sell, assign, transfer, convey and deliver to the Purchaser, and the Purchaser shall purchase, acquire and accept from each
Selling Entity all of such Selling Entity’s right, title and interests in, to and under the Purchased Assets, in each case free
and clear of any Liens (other than Permitted Liens) in exchange for:

 

(a)            the
assumption by the Purchaser of the Assumed Liabilities; and

 

(b)           the
payment by the Purchaser to the account or accounts designated by the Seller Parties pursuant to Section 2.06 of an amount
in cash in U.S. Dollars equal to the sum of the amounts set forth in Section 2.01(b)(i) through Section 2.01(b)(xviii) (the
 “Closing Purchase Price”), which, in the case of the amounts in Section 2.01(b)(ii) through Section 2.01(b)(xviii),
shall be as shown in the Closing Statement as described below:

 

(i)            $600
million (the “Goodwill Price”); provided, that if any ROFR Notice(s) have been received prior to Closing, the
Goodwill Price shall be reduced by the goodwill amount allocated pursuant to Section 3.05 to the Dealership(s) subject
to such ROFR Notice(s); plus

 

(ii)            the
Owned Real Estate Price; plus

 

(iii)           the
Fixed Assets Price; plus

 

(iv)          the
Closing New Vehicles Price; plus

 

(v)           the
Closing Used Vehicles Price; plus

 

(vi)          the
Closing Loaner Vehicles Price; plus

 

(vii)         the
Closing Demonstrator Vehicles Price; plus

 

(viii)        the
Closing Manufacturer Parts and Accessories Price; plus

 

(ix)           the
Closing Non-Manufacturer Parts and Accessories Price; plus

 

(x)            the
Closing Supplies Price; plus

 

(xi)           the
Closing Tires Price; plus

 

(xii)          the
Closing Work in Process Price; plus

 

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(xiii)         the
Closing Cash; plus

 

(xiv)         the
Closing Other Assets; plus

 

(xv)          the
Closing Current Assets, excluding all Cash and deferred Tax assets and the items set forth above; plus

 

(xvi)         the
Capital Improvements Reimbursement Amount; minus

 

(xvii)        the
Transferred Pre-Closing Contractual Liabilities, if any, which are known in an amount to be mutually agreed to between the parties in
good faith as of the Closing Date; minus

 

(xviii)       the
Closing Current Liabilities, excluding all Indebtedness and deferred Tax Liabilities (the items set forth in Section 2.01(b)(iv) 
through this Section 2.01(b)(xviii) together, the “Closing Amounts”).

 

The Closing Purchase Price is subject to adjustment
as set forth in Section 2.07. No later than three (3) business days prior to the anticipated
Closing Date, the Seller Parties shall prepare in good faith and deliver to the Purchaser a statement (the “Closing Statement”)
setting forth the following, in each case, calculated and prepared in accordance with the terms of this Agreement and the Purchase Price
Calculation/Accounting Principles: (A) the Owned Real Estate Price, (B) the Fixed Assets Price, and (C) the Seller Parties’
good faith estimate of each of the Closing Amounts, together with the information used to calculate each of the components thereof and
a calculation of the Closing Purchase Price. The Seller Parties will also deliver to the Purchaser the Closing Debt Amount to be paid
by the Purchaser at Closing in accordance with Section 3.04(b)(v).

 

SECTION 2.02.      Purchased
Assets; Excluded Assets.

 

(a)           Purchased
Assets. The term “Purchased Assets” shall mean the Selling Entities’ respective right, title and interest
in, to and under, if any, the following assets at the time of the Closing (or, solely with respect to any Delayed Closing Purchased Assets,
the applicable Delayed Closing) used in the Business:

 

(i)             Real
Property. The (A) Real Property set forth on Section 2.02(a)(i)(A) of the Disclosure Letter (collectively, the “Transferred
Owned Real Property”) and (B) Real Property set forth on Section 2.02(a)(i)(B) of the Disclosure Letter (the
 “Transferred Leased Real Property”, and collectively with the Transferred Owned Real Property, the “Transferred
Real Property”) which is the subject of a lease, sublease, license or occupancy agreement (collectively, the “Transferred
Real Property Leases”) under which a member of the Seller Group is a party as lessee, sublessee, licensee or occupant thereunder;

 

(ii)     Vehicles.All(w)NewVehicles,(x)UsedVehicles,
(y) Demonstrator Vehicles and (z) Loaner Vehicles;

 

(iii)            Parts,
Accessories and Supplies; Tires. All (w) Manufacturer Parts and Accessories, (x) Non-Manufacturer Parts and Accessories,
(y) Supplies and (z) Tires; Business;

 

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(iv)          WIP.
All Work in Process;

 

(v)
          Goodwill. All goodwill generated by or associated with the

 

(vi)          Permits.
All Permits used or held for use in the Business to the extent transferable (the “Transferred Permits”);

 

(vii)         Transferred
Records. All Records to the extent relating to the Purchased Assets, the Transferred Entities or the Business (but excluding any
such Records to the extent not reasonably separable from Records that do not relate to the Business or the transfer of which is not permitted
under applicable privacy Laws without Consent or any personnel Records (collectively, the “Transferred Records”);
provided, that Purchased Assets shall not include any Excluded Tax Return;

 

(viii)        Intellectual
Property. All Intellectual Property (x) owned by any Selling Entity and (y) used or held for use in the Business (the “Transferred
Intellectual Property”);

 

(ix)          Technology.
All Technology (x) owned by any Selling Entity and( y) used or held for use in the Business;

 

(x)            Contracts.
All Contracts that relate to the Business, including Contracts with annual payments by a Selling Entity or Transferred Entity or to a
Selling Entity or Transferred Entity of more than $75,000 and which are not terminable with no more than 90 days’ notice without
penalty, which such Contracts are set forth on Section 2.02(a)(x) of the Disclosure Letter (collectively, the “Transferred
Contracts”), in each case specifically excluding the Excluded Contracts and any Transferred Real Property Leases which are
identified separately in Section 2.02(a)(i);

 

(xi)           Claims.
All affirmative claims, causes of action, rights to indemnification, rights of offset or counterclaim and defenses, in each case, to
the extent related to the Business or the Purchased Assets (including all rights and claims in respect of any warranties extended by
suppliers, manufacturers, or otherwise);

 

(xii)          Accounts
Receivable. All billed and unbilled accounts receivable, notes receivable and similar rights to receive payments or rebates existing
as of immediately prior to the Closing (or, solely with respect to any Delayed Closing Purchased Assets, the applicable Delayed Closing)
and arising out of the Business to the extent included in the calculation of Closing Current Assets;

 

(xiii)         Cash.
All (A) Cash of any Transferred Entities as of immediately prior to the Closing to the extent included in the calculation of Closing
Cash, (B) amounts held on behalf of customers as deposits, including amounts held or reserved to fund We Owes, to the extent included
in the calculation of Closing Current Assets and Closing Current Liabilities (“Customer Deposits”) and (C) Cash
deposits (including security deposits and damages deposits) relating to the Transferred Real Properties to the extent included in the
calculation of Closing Current Assets (“Real Property Deposits”);

 

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(xiv)         Prepaid
Items. All credits, prepaid expenses, deferred charges, advance payments and security and other deposits arising out of the operation
or conduct of the Business to the extent included in the calculation of Closing Current Assets;

 

(xv)          Fixed
Assets. All Fixed Assets;

 

(xvi)        Transferred
Interests. One hundred percent (100%) of the Transferred Interests; and

 

(xvii)        Other
Assets. All other assets (tangible or intangible) used or held for use by the Business, in each case other than any such assets that
are expressly listed as Excluded Assets in any of clauses (i) through (xv) of Section 2.02(b) or assets of
the type described in clauses (i) through (xvi) of this Section 2.02(a).

 

(b)            Excluded
Assets. The term “Excluded Assets” shall mean the right, title and interest in, to and under all assets of any
member of Seller Group or any of their respective Affiliates that do not constitute Purchased Assets, including the following:

 

(i)            Accounts
Receivable. All (i) billed and unbilled accounts receivable, notes receivable and similar rights to receive payments or rebates
of any member of the Seller Group or any of their respective Affiliates to the extent relating to the Retained Businesses or the other
Excluded Assets, whether arising before, on or after the Closing Date and (ii) receivables considered Contracts in Transit;

 

(ii)            Cash.
All Cash of any member of the Seller Group or any of their respective Affiliates (other than Customer Deposits, Real Property Deposits
and Cash of the Transferred Entities, in each case to the extent constituting a Purchased Asset);

 

(iii)           Guarantees.
Any guarantee, letter of credit, surety bond (including any performance bond), credit support arrangement or other assurance of payment
issued by the any member of Seller Group or any of their respective Affiliates, including any of the same that are, in whole or in part,
for the benefit of the Business or with respect to any Purchased Asset or Assumed Liability;

 

(iv)          Insurance.
All existing and prior insurance policies and agreements and documents related thereto or self-insurance programs arranged or maintained
by any member of Seller Group or any of their respective Affiliates and all rights of any nature thereto except as expressly set forth
in Section 7.05;

 

(v)           Tax
Assets. All Tax credits, Tax refunds, Tax reclaim rights and other Tax assets of any member of the Seller Group or any of their respective
Affiliates with respect to Seller Taxes;

 

(vi)          Real
Property. All (A) Real Property and leasehold, subleasehold and licensee interests, including any prepaid rent, security deposits
and options to renew or purchase in connection therewith, in each case other than the Transferred Real Property and (B) letters
of credit securing any Transferred Real Property, including those set forth on Section 2.02(b)(vi) of the Disclosure Letter;

 

    26

     

    

 

(vii)         Certain
Records. All (A) Records not expressly identified as Transferred Records, (B) personnel Records maintained by the Seller
Group or any of their respective Affiliates, (C) Excluded Tax Returns, (D) Records (including accounting Records) relating
to Excluded Tax Returns and all financial Records relating to the Business that form part of the Seller Group’s or any of its Affiliates’
general ledger or otherwise constitute accounting Records, (E) Records prepared in connection with the Transactions and the sale
process, including bids received from other Persons and internal and external analyses relating to the Business, the Purchased Assets,
the Assumed Liabilities or the Retained Businesses, (F) back-up copies of the Transferred Records retained by the Seller Group and
their respective Affiliates in the ordinary course of business or pursuant to internal compliance, document retention or similar policies
and procedures, (G) Records subject to attorney work product protection, attorney-client or other established legal privilege if
such Records cannot be transferred without losing such privilege, in each case whether generated before, on or after the Closing Date
and (H) Records with respect to Excluded Assets or Excluded Liabilities (including any claims or Actions included therein);

 

(viii)        Contracts.
All rights of any member of the Seller Group or any of their respective Affiliates under (A) this Agreement and the other Transaction
Documents,

 

(B) any Contracts other than
the Transferred Contracts, (C) any (x) Affiliate Agreements (except as otherwise mutually agreed by the parties in a Transaction
Document), (y) Manufacturer Agreements (other than the Manufacturer Agreement specifically set forth on Section 2.02(b)(viii)-1
of the Disclosure Letter), and (z) Contracts described on Section 2.02(b)(viii)-2 of the Disclosure Letter and (D) any
Contracts relating exclusively to the Retained Businesses, in each case whether arising before, on or after the Closing Date (collectively,
the “Excluded Contracts”);

 

(ix)           Benefit
Plans. All the assets of or relating to, and all rights under, any employee compensation, benefit or welfare plan, agreement, arrangement
or understanding or any related Contract between any Person and any member of the Seller Group or any of their respective Affiliates
(including Seller Benefit Plans);

 

(x)            Corporate
Organizational Records. The organizational documents, qualifications to do business as a foreign corporation, arrangements with registered
agents relating to foreign qualifications, taxpayer and other identification numbers, seals and blank stock certificates and minute books,
stock transfer books and other Records relating to the organization, maintenance and existence of the Selling Entities and each of their
Affiliates (other than, for the avoidance of doubt, any rights in the same with respect to the Transferred Entities to the extent arising
out of the ownership of the Transferred Interests);

 

(xi)           Equity
Interests. All shares of capital stock, membership interests or other equity interests of (A) any member of the Seller Group
and each of their Affiliates or (B) other Persons that are owned or held by any member of the Seller Group or any of their respective
Affiliates (other than the Transferred Interests);

 

(xii)         Permits.
All Permits of the Seller Group or any of their respective Affiliates other than the Transferred Permits;

 

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(xiii)            Excluded
Claims. All affirmative claims, causes of action, defenses, rights of offset or counterclaim (x) to the extent not relating
to the Business or the Purchased Assets, including any of the same to the extent relating to the Retained Businesses or (y) to the
extent related to the Excluded Assets or the Excluded Liabilities;

 

(xiv)            ROFR
Assets. Any assets (including assets that would otherwise be Purchased Assets) that, pursuant to a ROFR Notice, become ROFR Assets;
and

 

(xv)            Additional
Excluded Assets. All escheatable deposits and other claims, causes of action and/or assets listed on Section 2.02(b)(xv) of
the Disclosure Letter.

 

(c)            Notwithstanding
anything to the contrary herein or in any of the other Transaction Documents (i) the Selling Entities shall not be required to transfer
any assets of the Transferred Entities other than through the transfer of the Selling Entities’ right, title and interest in the
Transferred Interests, and the Purchaser’s sole interest in the assets of the Transferred Entities shall be through its ownership
of the Transferred Interests and (ii) the Purchaser is not purchasing, and no Selling Entities are selling, assigning, transferring,
conveying or delivering, pursuant to this Agreement or any of the other Transaction Documents, any of the Selling Entities’ (or
any of their respective Affiliates’) right, title or interest in any asset that is not a Purchased Asset.

 

(d)            Notwithstanding
any contrary provision in this Agreement, nothing in this Agreement is or is intended to be a sale or transfer of any Manufacturer Agreement
or of rights pursuant to any Manufacturer Agreement (other than, in each case, the Contract specifically set forth on Section 2.02(b)(viii)-1
of the Disclosure Letter).

 

SECTION 2.03.     Assumed
Liabilities; Excluded Liabilities.

 

(a)            Assumed
Liabilities. The term “Assumed Liabilities” shall mean only the following Liabilities of the Seller Group and
no other Liabilities (including Excluded Liabilities set forth in subsections (i) – (x) of Section 2.03(b),
which shall in no event constitute Assumed Liabilities):

 

(i)            Accounts
Payable. All accrued receipts and accounts payable and other current Liabilities of the Selling Entities or any of their respective
Affiliates to the extent arising out of or relating to the operation or conduct of the Business and included in Closing Current Liabilities;

 

(ii)            Transferred
Contract Liabilities. All Liabilities to the extent arising under the Transferred Contracts (including any Transferred Pre-Closing
Contractual Liabilities, without limitation of any rights of the Purchaser pursuant to Section 10.02(d)) but excluding any
liability arising out of or relating to fraud or criminal actions by a Selling Entity;

 

(iii)            Taxes.
All Liabilities for Taxes (A) to the extent arising out of, related to or in respect of the Purchased Assets or the Business and
(B) of the Transferred Entities, excluding, in each case, Seller Taxes;

 

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(iv)            Environmental
Liabilities. All Liabilities to the extent arising out of or relating to the Business or any Purchased Asset and arising under or
relating to any applicable Environmental Law, except for all Liabilities excluded under Section 2.03(b)(vii);

 

(v)            Business
Claims. All Liabilities to the extent arising out of or relating to the operation or conduct of the Business or any Purchased Asset
from and after the Closing;

 

(vi)            Employment
Matters. All (A) employment, labor, compensation, employee welfare and employee benefits related Liabilities (including in respect
of Actions and claims) to the extent relating to any Transferred Employee and arising from and after the Closing; (B) any Liabilities
as may be mutually agreed by the parties in a Transaction Document; (C) Liabilities expressly and directly assumed by the Purchaser
pursuant to Section 7.06; and (D) Excess COBRA Liabilities;

 

(vii)            Customer
Deposits and Related. All Liabilities in respect of (A) Customer Deposits (including in respect
of new vehicle orders of customers), (B) We Owes, and (C) Chargebacks; and

 

(viii)            Real
Property. All Liabilities to the extent arising out of or relating to the Transferred Real Property.

 

(b)            Excluded
Liabilities. The Seller Group acknowledges and agrees that neither the Purchaser nor any of its Affiliates will be liable for and
will not be deemed to have assumed any of the following liabilities (the “Excluded Liabilities”), all of which shall
remain the sole responsibility of the Seller Group:

 

(i)            Indebtedness.
All Indebtedness of the Selling Entities or any of their respective Affiliates;

 

(ii)            Transaction
Expenses. All legal, accounting, financial advisory, consulting, finders and other fees and expenses, including any such fees and
expenses related to the solicitation of any other potential purchasers of the Business or otherwise incurred in connection with the Transactions,
in each case, incurred by or at the direction of the Selling Entities or their Affiliates on or before the Closing Date;

 

(iii)            Taxes.
Any and all Seller Taxes;

 

(iv)            Employees
and Benefits. Except as otherwise expressly set forth in Section 7.06 or except as may be mutually agreed by the parties
in a Transaction Document, all (A) employment, labor, compensation, employee welfare and employee benefits related Liabilities (including
in respect of Actions and claims) (i) in respect of any Transferred Employees arising prior to the Closing or (ii) in respect
of any Employee or former employee of Seller or any of its Affiliates who is not a Transferred Employee and (B)
Liabilities related to any Seller Benefit Plan, including all Controlled Group Liabilities;

 

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(v)            Excluded
Assets. All Liabilities to the extent arising out of or relating to any Excluded Asset;

 

(vi)            Scheduled
Items. All Liabilities set forth or described on Section 2.03(b)(vi) of the Disclosure Letter;

 

(vii)            Environmental
Matters. Any (a) fines, penalties and other monetary sanctions imposed by a Governmental Authority prior to the Closing and
arising from violations of or liability under Environmental Laws to the extent arising from events or occurrences in connection with
or relating to the Business or any operation thereof or any Purchased Assets prior to the date of this Agreement, and (b) Liabilities
to the extent arising from any presence, Release or threatened Release of Hazardous Materials at, on, under or from any real property
offsite of the Transferred Real Property where Seller or its Affiliates have transported or arranged for the transport or disposal of
Hazardous Materials;

 

(viii)            Retained
Businesses. All Liabilities to the extent relating to or arising out of any of the Retained Businesses;

 

(ix)            Scheduled
Disputes/Claims. All Liabilities relating to or arising out of the matters set forth on Section 2.03(b)(ix) of the Disclosure
Letter and any additional claims, proceedings and actions which may hereafter arise with respect to such matters or any other activities
involving or constituting criminal or fraudulent activities on the part of the Seller Group or any of their Affiliates, including the
Transferred Entities; and

 

(x)            Other
Liabilities. All other Liabilities of the Selling Entities or any of their respective Affiliates that are not Assumed Liabilities,
whether or not relating to the conduct of the Business or ownership or use of the Purchased Assets prior to the Closing.

 

(c)            At
the Closing, the Purchaser shall assume the Assumed Liabilities and shall agree to pay, honor, discharge and perform the Assumed Liabilities
in full when due in accordance with their terms.

 

SECTION 2.04.     Non-Transferable
Assets.

 

(a)            To
the extent that the sale, conveyance, assignment or transfer or attempted sale, conveyance, assignment or transfer to the Purchaser of
any Purchased Asset is prohibited by or would contravene any applicable Law or would require any Consent of any Governmental Authority
or other third party (such Consents including, without limitation, the Transferred Real Property Lease Consents) and such Consents shall
not have been obtained at or prior to the Closing (or, solely with respect to any Delayed Closing Purchased Assets, the applicable Delayed
Closing), this Agreement shall not constitute a sale, conveyance, assignment or transfer, or an attempted sale, conveyance, assignment
or transfer of such Purchased Asset (any such Purchased Asset, a “Delayed Purchased Asset”). Other than with respect
to Consents under the Antitrust Laws, which are the subject of Section 7.01, during the period commencing on the date hereof
and continuing until one (1) year after the Closing Date (or, in the case of a Transferred Contract or Transferred Real Property
Lease, at the option of the applicable Selling Entity, until the expiration of the term of such Contract or Transferred Real Property
Lease (without giving effect to any extensions thereof following the Closing)) (i) each party shall use reasonable best efforts
to provide or cause to be provided to the other party such assistance as such other party reasonably requests in connection with
securing such Consents and (ii) if any such Consents are not secured at or prior to the Closing, until the earlier of (A) obtaining
such Consent and (B) the term set forth in the lead- in to this sentence, the parties shall use their respective reasonable best
efforts to cooperate in any reasonable arrangement (any such arrangement complying with this Section 2.04, a “Delayed
Purchased Asset Arrangement”) proposed by either the Purchaser or the Seller Parties that is permitted by Law under which the
Purchaser shall obtain the rights and benefits (as determined on an after-tax basis taking into account solely items related to such
Delayed Purchased Asset Arrangement) and bear the burdens and obligations of ownership of any such Delayed Purchased Asset such that
the parties would be placed in a substantially similar position as if such Delayed Purchased Asset had been conveyed at the Closing (or,
solely with respect to any Delayed Closing Purchased Assets, the applicable Delayed Closing); provided that, no member of the
Seller Group shall be required to (1) pay any consideration therefor, (2) commence, defend or participate in any Action, or
(3) offer or grant any accommodation (financial or otherwise) to any third party in connection therewith; provided further
that the Purchaser shall indemnify and hold harmless each member of the Seller Group, their Affiliates and their respective Representatives
from and against any and all Losses arising out of or relating to any Delayed Purchased Asset held by such Person for the benefit of
the Purchaser pursuant to and arising during the term of any related Delayed Purchased Asset Arrangement. In furtherance of the foregoing,
the Purchaser shall, or shall cause a designee to, promptly pay, perform or discharge when due any Liability arising under any Delayed
Purchased Asset from and after the Closing Date. If any such Consent is obtained after the Closing, the Selling Entities shall transfer,
assign and deliver (or cause to be transferred, assigned and delivered) such Delayed Purchased Asset to the Purchaser at no additional
cost as soon as reasonably practicable thereafter.

 

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(b)            Within
three (3) business days following the execution of this Agreement, the applicable Selling Entities shall provide notice to each
Manufacturer whose Consent is required under the applicable Manufacturer Agreement of the execution of this Agreement, and as required
pursuant to the applicable Manufacturer Agreement, a copy of this Agreement or other short form document with respect to the applicable
Dealerships, the Purchaser’s contact information and other customary materials. The Seller Parties will use their reasonable best
efforts to cooperate with the Purchaser in order for the Purchaser to submit as promptly as reasonably practicable to each such Manufacturer
(in accordance with the Manufacturer Agreements) whose Consent is required for the parties to consummate the sale or transfer of the
applicable Purchased Assets or other transactions contemplated by this Agreement with respect to the applicable Dealerships a request
for the Manufacturer’s Consent to the applicable transactions; provided, that no member of the Seller Group or any of their
Affiliates shall have any obligation to pay money or offer or make any concession or grant any accommodation (financial or otherwise)
to any Manufacturer or other third party in connection with the cooperation provided hereunder. Without limitation of the foregoing,
with respect to any such Consents required under any Manufacturer Agreements (including but not limited to any waiver of any rights of
first refusal or similar rights thereunder), the Purchaser shall promptly take, or cause to be taken, any and all reasonable actions
necessary to secure, and shall use reasonable best efforts to secure, any such Consents and resolve any objections asserted with respect
to any of the Transactions raised by any Manufacturer. The Purchaser shall use reasonable best efforts to keep the Sellers hereto informed
in all material respects and on a timely basis of (i) any material communication received by the Purchaser from, or given by the
Purchaser to, any Manufacturer in each case regarding any of the Transactions, and (ii) completion and submission of any
application for Consent under or in relation to the Manufacturer Agreements.

 

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SECTION 2.05. Purchaser’s
Recording and Similar Responsibilities. Notwithstanding the foregoing provisions of this Article II, it shall be the
Purchaser’s responsibility (a) to record any assignments contemplated by the Intellectual Property Assignment Agreement following
execution thereof by a Selling Entity at the Closing and (b) to bear all fees, duties and other costs (other than Transfer Taxes,
which are governed by Section 7.11(a)) payable in connection with (i) the transfer of such Intellectual Property and
(ii) the recording and registration of title to the Purchased Assets, as and when required by applicable Law or local custom, in
the name of the Purchaser and its Affiliates.

 

SECTION 2.06. Payment
of Closing Purchase Price. Subject to the terms and conditions hereof, at the Closing, the Purchaser shall pay or cause to be paid
to the Selling Entities in immediately available funds by wire transfer to one or more bank accounts designated by the Seller Parties
at least two (2) business days prior to the Closing Date, cash in U.S. Dollars in an amount equal to the Closing Purchase Price,
less (i) the Closing Debt Amount to be wired pursuant to Section 3.04(b)(v) below, less (ii) the Holdback
Amount to be wired to the Escrow Agent pursuant to Section 2.09 and (iii) any Delayed Closing Amount, if any, to be
wired to the Escrow Agent pursuant to Section 3.02. The Closing Purchase Price is subject to further adjustment after the
Closing Date as provided in Section 2.07.

 

SECTION 2.07.     Closing
Purchase Price Adjustment.

 

(a)            Unless
the parties shall have previously mutually agreed in writing that any portions of the estimated Closing Amounts are to be considered
the Final Closing Amounts (as defined below) for purposes hereof (which agreement shall be irrevocable), or with respect to the Final
Closing Amount for Used Vehicles which will be irrevocably finalized by the parties no later than five (5) days after the Closing,
then, as promptly as practicable, and in any event within forty- five (45) days after the Closing Date (except the Final Closing Amounts
for Used Vehicles), the Purchaser shall prepare and deliver to the Seller Parties a statement (the “Revised Closing Statement”)
setting forth the Purchaser’s good faith calculation of the Closing Amounts (including all of the components thereof set forth
in the definition thereof), together with such schedules and data with respect to the determination thereof as are appropriate to support
the calculations set forth in the Revised Closing Statement. The Revised Closing Statement shall be prepared in accordance with the terms
of this Agreement and the Purchase Price Calculation/Accounting Principles. The parties agree that the purpose of preparing the Revised
Closing Statement and determining the Final Closing Amounts (and all components thereof) and the related adjustments contemplated by
this Section 2.07 is to measure the amount of the Final Closing Amounts (and all components thereof) in accordance with the
terms of this Agreement and the Purchase Price Calculation/Accounting Principles, and such process is not intended to permit the introduction
of different accounting methods, policies, principles, practices, procedures, judgments, classifications or estimation methodologies
for the purpose of determining the Final Closing Amounts (and all components thereof) other than those set forth in the Purchase Price
Calculation/Accounting Principles. Following the delivery of the Revised Closing Statement, the Purchaser shall provide the Seller Parties
and their Representatives with reasonable access to the Transferred Records, work papers and other documents that were used in the preparation
of, or

otherwise relate to, the Revised Closing Statement,
internal and external accountants, relevant personnel and properties of the Purchaser and its Subsidiaries, to permit the Seller Parties
and their Representatives to review the Revised Closing Statement and the Purchaser’s calculation of the Closing Amount (and all
components thereof) as set forth therein. The Revised Closing Statement shall become final and binding upon the parties on the thirtieth
(30th) day following receipt thereof by the Seller Parties, unless the Seller Parties give written notice of their disagreement with
the Revised Closing Statement (a “Notice of Disagreement”) to the Purchaser prior to such date. Any Notice of Disagreement
shall specify in reasonable detail the nature of any disagreement so asserted and include the Seller Parties’ calculation of the
Closing Amounts. If a timely Notice of Disagreement is received by the Purchaser, then the Revised Closing Statement (as revised in accordance
with this sentence) shall become final and binding upon the parties on the earlier of (i) the date on which
the Purchaser and the Seller Parties resolve in writing any differences they have with respect to the matters specified in the Notice
of Disagreement and (ii) the date on which all such disputed matters are finally resolved in writing by the Independent Expert pursuant
to the procedures set forth in this Section 2.07. During the thirty (30) day period following the delivery of a Notice of
Disagreement, the Purchaser and the Seller Parties shall work in good faith to resolve in writing any differences that they may have
with respect to the matters specified in the Notice of Disagreement. At the end of such thirty (30) day period, the Purchaser and the
Seller Parties shall submit to the Independent Expert for review any and all matters that remain in dispute and were included in the
Notice of Disagreement. The parties shall instruct the Independent Expert to render its decision as to such disputed items and the effect
of its decision on the Revised Closing Statement as promptly as practicable but in no event later than sixty (60) days after the date
of such submission. Each party shall furnish to the Independent Expert such working papers and other relevant documents and information
relating to the disputed items, and shall provide interviews, answer questions and otherwise cooperate with the Independent Expert as
the Independent Expert may reasonably request in connection with its determination of such disputed items. In the event either party
shall participate in teleconferences or meetings with, or make presentations to, the Independent Expert, the other party shall be entitled
to reasonable advance notice of, and to participate in, such teleconferences, meetings or presentations. The terms of appointment and
engagement of the Independent Expert shall be as agreed upon between the parties in writing.

 

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(b)            In
resolving any such disputed item, the Independent Expert (i) shall act in the capacity of an expert and not as an arbitrator, (ii) shall
limit its review to matters specifically set forth in the Notice of Disagreement as to a disputed item (other than matters thereafter
resolved by mutual written agreement of the parties) and (iii) shall not assign a value to any disputed item greater than the greatest
value for such item claimed by either party or less than the smallest value for such item claimed by either party in the Revised Closing
Statement or in the Notice of Disagreement, as applicable. The Independent Expert is not authorized to, and shall not, make any other
determination, including (A) any determination with respect to any matter included in the Revised Closing Statement or the Notice
of Disagreement that was not submitted for resolution to the Independent Expert, (B) any determination as to whether the Purchase
Price Calculation/Accounting Principles were followed with respect to the Financial Statements, (C) any determination as to the
accuracy of the representations and warranties in this Agreement, or (D) any determination as to compliance by any party
with any of its respective covenants in this Agreement. Any dispute not within the scope of the disputed items to be resolved by the
Independent Expert pursuant to this Section 2.07 shall be resolved as otherwise provided in this Agreement.

 

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(c)            The
final determination by the Independent Expert of the disputed items submitted to it pursuant to this Section 2.07 shall (i) be
in writing, (ii) include the Independent Expert’s calculation of the Closing Amounts, (iii) include the Independent Expert’s
determination of each disputed item submitted to it pursuant to this Section 2.07 and (iv) include a brief summary of
the Independent Expert’s reasons for its determination regarding each such disputed item.

 

(d)            The
final determination of the disputed items by the Independent Expert shall be final and binding upon the parties and an order may be entered
in respect thereof by a court having jurisdiction over the party against which such determination is to be enforced. Each party agrees
that it shall not have any right to, and shall not, institute any Action (as defined below) of any kind challenging such determination
by the Independent Expert, which shall be the sole remedy of the parties with respect to the items properly subject to submission to
Independent Expert under this Section 2.07, except that the foregoing will not preclude an Action to enforce such determination
or to challenge such determination on the ground that it is inconsistent with the terms of this Agreement. The fees and expenses of the
Independent Expert incurred pursuant to this Section 2.07 shall be borne 50% by the Seller Parties and 50% by the Purchaser.

 

(e)            Following
the Closing Amounts becoming final and binding upon the parties pursuant to this Section 2.07 (such final amounts, the “Final
Closing Amounts”), a payment (the “Final Purchase Price Adjustment”) shall be made by or on behalf of the
applicable party in accordance with this Section 2.07(e). The Final Purchase Price Adjustment shall be an amount equal to
the Closing Purchase Price minus the Final Purchase Price and, (i) if the Final Purchase Price Adjustment is positive, an
amount equal to the Final Purchase Price Adjustment shall be paid to the Purchaser (or one or more Affiliates designated by the Purchaser
in such amounts designated by the Purchaser) by the Seller Parties (or one or more Affiliates designated by the Seller Parties in such
amounts designated by the Seller Parties) and (ii) if the Final Purchase Price Adjustment is negative, an amount equal to the absolute
value of the Final Purchase Price Adjustment shall be paid to the Seller Parties (or one or more Affiliates designated by the Seller
Parties) by the Purchaser (or one or more Affiliates designated by the Purchaser). Any payments pursuant to this Section 2.07(e) shall
be made in U.S. Dollars by wire transfer of immediately available funds to an account or accounts designated by the receiving party within
five (5) days after the Closing Statement becomes final and binding upon the parties. The Final Purchase Price Adjustment shall
be treated as an adjustment to the Closing Purchase Price for all applicable Tax purposes, except as otherwise required pursuant to a
final “determination” (within the meaning of Section 1313(a) of the Code) or similar determination under applicable
state, local or non-U.S. Tax Law.

 

SECTION 2.08. Withholding.
The Purchaser and its Affiliates shall be entitled to deduct and withhold, or cause to be deducted and withheld, from any amount payable
to any Person pursuant to this Agreement, any amounts that the Purchaser reasonably determines may be required to be deducted and withheld
and paid to the applicable Governmental Authority under applicable Tax Law. Any amounts so deducted and withheld shall be treated for
all purposes of this Agreement as having been paid to such Person in respect of which such deduction and withholding was made. As soon
as reasonably practicable in advance of the expected Closing Date, the Purchaser will deliver a schedule of any expected withholding
amounts to the Seller Parties.

 

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The Purchaser and the Seller Parties shall reasonably
cooperate, and shall cause their respective controlled Affiliates to reasonably cooperate, in order to reduce or eliminate to the extent
permissible under applicable Tax Law the amount of any such deduction or withholding on payments made pursuant to this Agreement under
applicable Tax Law.

 

SECTION 2.09.     Holdback
Amount.

 

(a)            The
Purchaser will deliver the Holdback Amount to the Escrow Agent at Closing to be held and disbursed by the Escrow Agent pursuant to the
terms of the Escrow Agreement and this Agreement. The Holdback Amount shall be applied to satisfy the applicable obligations of the Seller
Parties in accordance with the terms of this Agreement as set forth below, with any earnings or interest accruing on the Holdback Amount
being for the benefit of the Seller Parties. All interest or other income earned with respect to the Holdback Amount shall be allocated
to the Seller Parties and reported by the Escrow Agent to the Internal Revenue Service, or any other taxing authority, on IRS Form 1099
(or other appropriate form) as income earned from the Holdback Amount by the Seller Parties whether or not such income is distributed.

 

(b)            Until
twelve (12) months after the Closing Date (the “Holdback Partial Release Date”), any Holdback Amount remaining in
the escrow account established for purposes of holding the Holdback Amount pursuant to the Escrow Agreement (the “Escrow Account”)
shall be available (subject to the terms of this Agreement and the Escrow Agreement) to compensate the Purchaser solely for indemnifiable
Losses pursuant to Section 10.02. Promptly (but in any event within ten (10) business days) following the Holdback Partial
Release Date, the Purchaser and the Seller Parties shall submit joint instructions to the Escrow Agent providing for the release of an
amount equal to 50% of the Holdback Amount initially deposited with the Escrow Agent less the sum of (i) the amount of claims
that have been paid prior to the Holdback Partial Release Date and (ii) any amounts then subject to a claim hereunder; provided,
that if such sum is a negative amount, then no portion of the Holdback Amount shall be released on the Holdback Partial Release Date.
Following the Holdback Partial Release Date until the date that is twenty-four (24) months following the Closing Date (the “Holdback
Amount Termination Date”) the remaining Holdback Amount remaining in the Escrow Account shall be available (subject to the
terms of this Agreement and the Escrow Agreement) to compensate the Purchaser solely for indemnifiable Losses in accordance with Section 10.02.
Promptly (but in any event within ten (10) business days) following the Holdback Amount Termination Date, the Purchaser and the
Seller Parties shall submit joint instructions to the Escrow Agent providing for the release of all amounts then remaining in the Escrow
Account, less any amounts then subject to a claim hereunder, which amounts shall continue to be held by the Escrow Agent pursuant to
this Agreement and the Escrow Agreement until such claim is resolved.

 

SECTION 2.10. Deposit.
As soon as reasonably practicable following the execution of this Agreement, the Purchaser will deliver or cause to be delivered a deposit
of cash in an amount equal to $20,000,000 by wire transfer of immediately available funds into escrow to be held and disbursed by the
Escrow Agent pursuant to the terms of an escrow agreement to be agreed by the Escrow Agent and the parties hereto (the “Deposit”).
If the Transaction is consummated, at the Closing (as defined below) the Purchaser and the Seller Parties shall submit joint instructions
to the Escrow Agent providing for the release of the Deposit and any earnings or interested accrued thereon (“Deposit Interest”)
to the Seller Parties, and the Deposit and any Deposit Interest will be applied against the Closing Purchase Price. If this Agreement
is terminated pursuant to Section 9.01(d) prior to the Closing, the Purchaser and the Seller Parties shall submit joint
instructions to the Escrow Agent providing for the release of the Deposit and any Deposit Interest to the Seller Parties. If the Closing
does not occur and the termination of the Agreement occurs other than pursuant to Section 9.01(d), the Purchaser and the
Seller Parties shall submit joint instructions to the Escrow Agent providing for the release of the Deposit and any Deposit Interest
to the Purchaser. The parties acknowledge and agree that the retention of the Deposit pursuant to the preceding sentence shall not constitute
a waiver or satisfaction of any claim for breach or default, and shall not constitute liquidated damages.

 

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ARTICLE III

 

Closing;
Closing Deliveries

 

SECTION 3.01.     Closing.

 

(a) Initial Closing.
The closing of the purchase and sale of the Purchased Assets, the transfer of the Transferred Employees (other than any Inactive Employee)
and the assumption of the Assumed Liabilities (the “Closing”) shall take place at 10:00 a.m., Central Time, at the
offices of Skadden, Arps, Slate, Meagher & Flom LLP, 155 N. Wacker Drive, Chicago, Illinois 60606 on the first Monday that
is at least ten (10) business days after all conditions to the obligations of the Purchaser and the Seller Parties under Article VIII
shall have been satisfied or, to the extent permitted by applicable Law, waived (other than those conditions that by their terms
are to be satisfied at the Closing, but subject to the satisfaction or, to the extent permitted by applicable Law, waiver of such conditions
at such time), or at such other place and date as the parties may agree; provided, that, unless the Purchaser otherwise consents
in writing, the Closing shall not occur until the earlier of (i) the 75th day after the date hereof and (ii) the date on which
all necessary Consents under Manufacturer Agreements are obtained and each Manufacturer for each Dealership has issued to the Purchaser
a dealership sales and service agreement for each Dealership, or commitment therefor, on terms and conditions reasonably acceptable to
the Purchaser, that permits the Purchaser to operate such Dealership. The date on which the Closing occurs is referred to herein as the
 “Closing Date.”

 

SECTION 3.02. Delayed
Closing. If, on the Closing Date, a Manufacturer has not issued and delivered to the Purchaser a conditional approval letter or other
correspondence confirming the Manufacturer’s intent to enter into a new Manufacturer Agreement with the Purchaser on terms and
conditions reasonably acceptable to the Purchaser (“Manufacturer Approval”), with respect to any particular Dealership
(such Dealership, a “Delayed Closing Dealership”), then (a) such Delayed Closing Dealership and the Purchased
Assets related thereto (collectively, the “Delayed Closing Purchased Assets”) will not be transferred, assigned and
conveyed to the Purchaser at Closing, but rather the Purchaser will deposit the portion of the Closing Purchase Price, as set forth in
the Allocation or as otherwise mutually agreed in writing by the parties (the “Delayed Closing Amount”), into escrow
to be held and disbursed by the Escrow Agent pursuant to the terms of the Escrow Agreement and as agreed by the parties hereto, and (b) the
Delayed Business Employees will not be transferred to the Purchaser or its Affiliates on the Closing Date, but rather the Purchaser will,
or will cause its Affiliates to, make conditional offers of employment to the Delayed Business Employees pursuant to Section 7.06(b).
Pending Manufacturer Approval, the Purchaser will not assume any Assumed Liabilities to the extent arising out of or in connection with
the Delayed Closing Purchased Assets, and the Delayed Closing Purchased Assets will not be transferred by the Selling Entities to the
Purchaser, but will be retained and operated by Selling Entities until the closing of sale of the Delayed Closing Purchased Assets to
the Purchaser or to a third party (a “Delayed Closing”). The date on which any Delayed Closing occurs is referred
to herein as the “Delayed Closing Date” with respect to such Delayed Closing.

 

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SECTION 3.03. Effectiveness.
For all economic, accounting and Tax purposes (in each case, to the extent permitted by applicable Law), the consummation of the transactions
contemplated by this Agreement shall be deemed to take place on the Closing Date at 12:01 a.m., Central Time.

 

SECTION 3.04.     Transactions
to be Effected at the Closing.

 

(a)            At
the Closing, the Seller Parties shall deliver or cause to be delivered to the Purchaser the following:

 

(i)            a
duly executed counterpart of a bill of sale and assignment and assumption agreement substantially in the form of Exhibit B
(the “Bill of Sale and Assignment and Assumption Agreement”);

 

(ii)            a
duly executed counterpart of the Intellectual Property Assignment Agreement;

 

(iii)            with
respect to any Transferred Interests an Assignment of Interests in substantially the form of Exhibit C (“Assignment
of Interests”) and with respect to Transferred Interests that are certificated, certificates representing such Transferred
Interests, duly endorsed (or accompanied by stock powers endorsed in blank), and, to the extent any Transferred Interests are not in
certificated form, other evidence of ownership or assignment;

 

(iv)            with
respect to each Transferred Leased Real Property for which lessor Consent was obtained (or was otherwise not required), an executed counterpart
of the applicable Selling Entity (and if applicable, lessor) to an assignment of lease in the form reasonably agreed by the parties thereto;

 

(v)            the
certificates contemplated in Section 8.02;

 

(vi)            as
and to the extent customarily required to transfer title, all instruments of title for the New Vehicles, Used Vehicles, Demonstrator
Vehicles and Loaner Vehicles (or an application for title with respect to Used Vehicles);

 

(vii)            with
respect to each Selling Entity (or if the separate existence of such Selling Entity is disregarded for U.S. federal income tax purposes,
such Selling Entity’s regarded owner), a certificate of non-foreign status for such Selling Entity (or, if applicable, its regarded
owner) in the form attached as Exhibit G;

 

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(viii)            customary
title affidavits, evidence of authority and resolutions, evidence of good standing, organizational documents and such other documents,
agreements, instruments, certificates, affidavits and information reasonably and customarily required by the Title Insurance Company
(in each case, in form and substance reasonably satisfactory to the Sellers) in order to issue, at Closing, the Title Policies, executed
(and acknowledged, as applicable) by the Seller Group members and such other Persons as may be reasonably requested by the Title Insurance
Company;

 

(ix)            a
duly executed counterpart of the Escrow Agreement; and

 

(x)            the
Payoff Letters (other than with respect to any Closing Debt not paid by Seller Parties at the Closing pursuant to Section 3.04(b)(v) below).

 

(b)            At
the Closing, the Purchaser shall deliver or cause to be delivered to the Seller Parties or the relevant designees the following:

 

(i)            the
Closing Purchase Price in accordance with Section 2.06(iii);

 

(ii)            a
duly executed counterpart of the Bill of Sale and Assignment and Assumption Agreement;

 

(iii)            with
respect to each Transferred Leased Real Property for which lessor Consent was obtained (or was otherwise not required), an executed counterpart
of the Purchaser to an assignment of lease in the form reasonably agreed by the parties;

 

(iv)            a
duly executed counterpart of the Intellectual Property Assignment

 

Agreement;

 

(v)            the
Closing Debt Amount to the holders thereof (as designated by the Seller Parties); provided that any Closing Debt that the Purchaser
and the Seller Parties reasonably agree is related to any Delayed Closing Purchased Assets need not be paid by the Seller Parties at
the Closing to the extent so related to such Delayed Closing Purchased Assets and shall instead be paid by the Seller Parties no later
than the applicable Delayed Closing;

 

(vi)            duly
executed counterparts of the Escrow Agreement, executed by the Purchaser and the Escrow Agent;

 

(vii)            the
Holdback Amount and any Delayed Closing Amount to the Escrow Agent; and

 

(viii)     the
certificates contemplated in Section 8.03.

 

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SECTION 3.05.     Allocation
of Closing Purchase Price.

 

(a)           An
allocation of the Goodwill Price among the Dealerships will be agreed to by the parties as promptly as practicable but in no event later
than the tenth (10th) business day after the date hereof. At least ten (10) days prior to the expected Closing Date, the Seller
Parties shall provide the Purchaser with an allocation, substantially in the format set forth as Exhibit E hereto,
of the Closing Purchase Price (as determined as of the applicable date of such allocation) and the applicable Assumed Liabilities (together
with any other amounts constituting consideration for U.S. Federal income tax purposes) among (i) the Purchased Assets (including
the Transferred Interests) and (ii) a further allocation of such amounts allocated to the Transferred Interests among the assets
of the Transferred Entities in accordance with Section 1060 of the Code and the Treasury regulations promulgated thereunder and
consistent with the amounts paid to the applicable Seller Parties (or their designees) pursuant to Section 2.06(iii) (the
 “Allocation”) for the Purchaser’s review and comment. The Purchaser and the Seller Parties shall use commercially
reasonable efforts to agree to the Allocation within thirty (30) days following the Closing Date (or within such other time period as
mutually agreed to between the Purchaser and the Seller Parties). If the Purchaser and the Seller Parties are unable to resolve any disputed
item in the Allocation within thirty (30) days following the Closing Date (or within such other time period as mutually agreed to between
the Purchaser and the Seller Parties), any remaining disputed items shall be determined by the Independent Expert in accordance with
the procedures set forth in Section 2.07.

 

(b)           The
Seller Parties and the Purchaser shall, and shall cause their respective controlled Affiliates to, reasonably cooperate to adjust the
Allocation to reflect any subsequent adjustments to (i) the consideration paid for the Purchased Assets (including the Transferred
Interests), (ii) the Closing Purchase Price or (iii) any other amounts constituting consideration for U.S.
federal income tax purposes. The Seller Parties and the Purchaser shall report consistently with the Allocation on all Tax Returns,
including IRS Form 8594, which the Purchaser and the Seller Parties shall timely file with the IRS, and neither the Purchaser nor
any Seller Party shall take any position in any Tax Return that is inconsistent with the Allocation, as adjusted, in each case, unless
required to do so by a final “determination” as defined in Section 1313(a) of the Code (or any similar provision
of applicable state, local, or non-U.S. Tax Law); provided, however, that neither the Purchaser nor any Seller Party shall
be unreasonably impeded in its ability and discretion to negotiate, compromise and/or settle any Tax Action in connection with the Allocation.

 

ARTICLE IV

 

Representations and Warranties of the Seller
Parties

 

Each Seller Party represents
and warrants to the Purchaser that as of the date of this Agreement and the Closing Date (except in instances when a representation is
made as of a specific date, and then such representations shall be made as of such date only), except as set forth in the confidential
disclosure letter delivered by the Seller Parties to the Purchaser concurrently with or prior to the execution of this Agreement (the
 “Disclosure Letter”):

 

SECTION 4.01. Organization;
Standing. Each Selling Entity and Transferred Entity is an entity duly organized, validly existing and in good standing under the
Laws of the jurisdiction of its organization and has all requisite power and authority necessary to carry on the Business as it is now
being conducted, except (other than with respect to such entity’s due organization and valid existence) as would not reasonably
be expected to be material to the Business. Except as would not reasonably be expected to be material to the Business, each Selling Entity
and Transferred Entity is duly licensed or qualified to do business and is in good standing in each jurisdiction in which the conduct
of the Business by it or the character or location of the Purchased Assets owned or leased by it makes such licensing or qualification
necessary.

 

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SECTION 4.02.     Authority;
Enforceability; Noncontravention.

 

(a)            Each
Selling Entity has all necessary power and authority to execute and deliver the Transaction Documents to which such Selling Entity is
or will be a party and to perform its respective obligations hereunder and thereunder and to consummate the applicable Transactions.
The execution, delivery and performance by each Selling Entity of the Transaction Documents to which such Selling Entity is or will be
a party, and the consummation by it of the applicable Transactions, have been duly authorized by all necessary action on the part of
such Selling Entity and no other corporate or similar action on the part of such Selling Entity is necessary to authorize the execution,
delivery and performance by such Selling Entity of the Transaction Documents to which such Selling Entity is or will be a party and the
consummation by it of the applicable Transactions. This Agreement has been, and each of the other Transaction Documents to which a Selling
Entity is or will be a party has been or will be, as applicable, duly executed and delivered by each Selling Entity party thereto and,
assuming the due authorization, execution and delivery hereof or thereof by the Purchaser or its applicable Affiliate, each Transaction
Document constitutes (or upon the due authorization, execution and delivery hereof or thereof by the Purchaser or its applicable Affiliate
will constitute) a legal, valid and binding obligation of each Selling Entity party thereto, enforceable against such Selling Entity
in accordance with its terms, except that such enforceability (i) may be limited by bankruptcy, insolvency, fraudulent transfer,
reorganization, moratorium and other similar Laws of general application affecting or relating to the enforcement of creditors’
rights generally and (ii) is subject to general principles of equity, whether considered in a proceeding at law or in equity (the
 “Bankruptcy and Equity Exception”).

 

(b)            Neither
the execution and delivery by each Selling Entity of the Transaction Documents to which such Selling Entity is or will be a party, the
consummation by such Selling Entity of the applicable Transactions, nor the performance or compliance by such Selling Entity with the
applicable terms or provisions hereof or thereof, will (i) conflict with or violate any provision of the organizational documents
of such Selling Entity or any of the Transferred Entities or (ii) assuming that the Consents referred to in Section 4.03
are obtained prior to the Closing and the filings referred to in Section 4.03 are made and any waiting periods thereunder
have terminated or expired prior to the Closing, and the Consents on Section 4.02(b) of the Disclosure Letter are obtained,
(A) violate any Law or Judgment applicable to such Selling Entity or any of the Purchased Assets, (B) violate or constitute
a default or an event that, with or without notice or lapse of time or both, would constitute a default under, any Transferred Contract
or any Permit included in the Purchased Assets or give rise to a right of termination, cancellation or acceleration or loss of a material
benefit under any Transferred Contract or any Permit included in the Purchased Assets or (C) result in the creation of any Lien
(other than a Permitted Lien) on any of the Purchased Assets, except, in the case of the foregoing clause (b), as would not, individually
or in the aggregate, reasonably be expected to be material to the Business. The Transferred Entities have not conducted, and do not currently
conduct, any material operations other than their respective ownership and leasing of the Transferred Real Property.

 

 

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SECTION 4.03. Governmental
Approvals. Except for filings required under, and compliance with other applicable requirements of, the HSR Act, no Consent of any
Governmental Authority is necessary for the execution and delivery by each Selling Entity of the Transaction Documents to which such
Selling Entity is or will be a party, and as set forth on Section 4.03 of the Disclosure Letter, the performance by such Selling
Entity of its obligations hereunder or thereunder and the consummation by such Selling Entity of the applicable Transactions, other than
such other Consents that, if not obtained, made or given, would not reasonably be expected to be material to the Business.

 

SECTION 4.04.     Capitalization;
Title to Transferred Interests.

 

(a)            Section 4.04(a) of
the Disclosure Letter sets forth the number of authorized, issued and outstanding equity interests in such Transferred Entity, the record
and beneficial owners thereof and the jurisdiction of organization of such Transferred Entity. The Transferred Entities do not own, directly
or indirectly, any equity interests in any other Person. True and complete copies of the organizational documents of the Transferred
Entities have been made available to the Purchaser.

 

(b)            The
Transferred Interests have been duly authorized and validly issued. There are no outstanding warrants, options, agreements, subscriptions,
convertible or exchangeable securities or other Contracts that have been entered into or issued with respect to any Transferred Entity
pursuant to which the Transferred Entities are or may become obligated to issue, sell, purchase, return or redeem any limited liability
company interests or other equity interests of the Transferred Entities, or any security convertible or exercisable or exchangeable therefor,
and no equity securities or other equity interests of the Transferred Entities are reserved for issuance for any purpose. None of the
issued and outstanding Transferred Interests was issued in violation of any preemptive rights, rights of first offer, rights of first
refusal or similar rights. Other than, or as set forth in, the applicable organizational documents of the applicable Transferred Entities
as provided to the Purchaser under Section 4.04(a), there are no voting trusts, member agreements, proxies or other agreements
or understandings in effect with respect to the voting or transfer of any of the Transferred Interests.

 

(c)            A
Selling Entity has good and valid title to each of the Transferred Interests and, upon consummation of the Transactions, good and valid
title to the Transferred Interests shall pass to the Purchaser, free and clear of all Liens (other than Permitted Liens).

 

SECTION 4.05.     Title
to Tangible Property.

 

(a)            A
Selling Entity has good and valid title to, or a valid leasehold interest in or license to, all of the tangible Purchased Assets, free
and clear of any Liens (other than Permitted Liens).

 

(b)            Except
in each case as would not reasonably be expected to be material to the Business, or as set forth on Section 4.05(b) of the
Disclosure Letter, all tangible Purchased Assets (i) have been maintained in accordance with the ordinary course policies, procedures
and standards of the Business, and are not the subject of any deferred maintenance or deferred capital expenditures and (ii) are
in normal operating condition and repair, ordinary course wear and tear excepted.

 

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SECTION 4.06. Sufficiency
of Assets. Except (a) as set forth in Section 4.06 of the Disclosure Letter, (b) for Manufacturer Agreements and licenses
to operate as a motor vehicle dealer held by members of the Seller Group, (c) for insurance policies (including self-insurance)
of the Business obtained by any member of the Seller Group or any of their Affiliates and (d) for services and other rights that
are to be made available pursuant to the other Transaction Documents, the Purchased Assets and the assets owned by the Transferred Entities
(and, to the extent applicable, the Delayed Closing Purchased Assets and the ROFR Assets) constitute all of the assets necessary for
the conduct of the Business in all material respects as currently conducted by the Seller Group as of the date of this Agreement.

 

SECTION 4.07. Financial
Statements. Section 4.07 of the Disclosure Letter sets forth true and correct copies of the Financial Statements. The Financial
Statements (a) have been derived from the Records of the Business (as applicable), (b) have been prepared in accordance with
GAAP applied on a consistent basis during the periods involved (except as may be indicated in the notes thereto or, subject, in the case
of interim Financial Statements, to the absence of footnotes and to normal year-end adjustments) and (c) fairly present in all material
respects the financial position and results of operations of the Business as of or for the periods shown therein. With respect to the
Business, the Seller Group has no material Liabilities included in the Assumed Liabilities, except (i) Liabilities reflected or
recorded in the Financial Statements; (ii) Liabilities under Contracts (other than Liabilities arising with respect to a breach
or default by the Seller Group); and (iii) Liabilities incurred in the ordinary course of business since the Balance Sheet Date,
and which are not, individually or in the aggregate, material to the Business. The Seller Group maintains a system of internal accounting
controls sufficient to provide reasonable assurance that transactions are recorded as necessary to permit preparation of the Financial
Statements in accordance with GAAP and to maintain accountability for assets.

 

SECTION 4.08. Absence
of Certain Changes. Since the Balance Sheet Date through the date of this Agreement, (a) except for the execution and performance
of this Agreement and the other Transaction Documents and the discussions, negotiations and transactions related thereto, the Business
has been conducted in all material respects in the ordinary course of business and (b) taking into account any COVID-19 Measures
as described in Section 6.01(c), there has not been, nor has there occurred (i) any effect, change or event that has
had, or would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, (ii) any knowing waiver
of material claims or rights of material value of the Seller Group under any provision of any Material Business Contract, other than
waivers granted in the ordinary course of business; (iii) any material modification of payment terms with customers or suppliers
pursuant to any Material Business Contract; (iv) any material change in any method of accounting or accounting practice for the
Business, except as required by GAAP (or any interpretation thereof) or by applicable Law, or as disclosed in the Financial Statements;
(v) any change in any material method of accounting for Tax purposes with respect to the Purchased Assets, the assets of the Transferred
Entities or the Business; (vi) any threatened in writing condemnation or eminent domain proceedings that would materially affect
any Transferred Real Property or (vii) entry into any agreement or commitment, whether in writing or otherwise, that in any way
legally binds Seller to take any action described in this Section 4.08(b)(ii)-(vi).

 

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SECTION 4.09. Legal
Proceedings. Except as set forth on Section 4.09 of the Disclosure Letter, there is no material (a) pending or, to the
Knowledge of the Sellers, threatened in writing legal or administrative proceeding, suit, investigation, arbitration, petition, plea,
charge, complaint, demand, litigation, mediation, hearing, inquiry, claim (including any counterclaim) or action (an “Action”)
against any Selling Entity or Transferred Entity arising out of or relating to the Business by or before any Governmental Authority or
(b) outstanding order, judgment, settlement, injunction, ruling, writ, decree, decision, verdict, subpoena, mandate, precept, directive,
consent, approval, award, assessment or arbitration award of any Governmental Authority (a “Judgment”) arising out
of or relating to any Selling Entity or Transferred Entity in connection with the Business.

 

SECTION 4.10.     Compliance
with Laws; Permits.

 

(a)            Except
as set forth on Section 4.10(a) of the Disclosure Letter, each Selling Entity and Transferred Entity is, and has at all times
been, in compliance in all material respects with all state, local, foreign or federal laws (including common law), statutes, ordinances,
codes, rules or regulations, constitutions, orders, Judgments or other legal requirements enacted, adopted, or promulgated, or applied
by any Governmental Authority (“Laws”) applicable to the Business.

 

(b)            The
licenses, permits, registrations, consents, exemptions, variances, certificates, approvals, quality certifications, rights and authorizations
from Governmental Authorities (collectively, “Permits”) held by the Selling Entities relating to the Business and
constituting Purchased Assets (or held by Transferring Entities) constitute all material Permits necessary for the conduct of the Business
as currently conducted. A list of all such material Permits as of the date hereof is set forth in Section 4.10(b) of the Disclosure
Letter. Each Selling Entity and Transferred Entity, is, and has at all times been, in compliance in all material respects with the terms
of the Transferred Permits.

 

SECTION 4.11.     Tax
Matters.

 

(a)            All
material Tax Returns required to be filed with respect to the Business, the Purchased Assets or the Transferred Entities have been duly
and timely filed (taking into account any valid extensions of the due date for filing), and each such Tax Return is true, correct and
complete in all material respects.

 

(b)            All
material Taxes owed with respect to the Business, the Purchased Assets or the Transferred Entities have been timely paid in full, whether
disputed or not, and whether or not shown as due on any Tax Return.

 

(c)            All
material Tax withholding and deposit requirements imposed with respect to the Business, the Purchased Assets or the Transferred Entities
have been satisfied in all material respects, and all information reporting requirements with respect to the Business, the Purchased
Assets or the Transferred Entities have been complied with in all material respects.

 

(d)            No
claim has been made by a Governmental Authority in a jurisdiction where Tax Returns are not filed by a Transferred Entity that such Transferred
Entity is or may be subject to taxation in that jurisdiction.

 

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(e)            There
is no unresolved material Tax Action with respect to the Purchased Assets, the Business, or any Transferred Entity pending or ongoing
or, to the Knowledge of the Sellers, that has been threatened in writing, and no extension of time or waiver of the limitations period
relating to material Taxes with respect to the Business, the Purchased Assets or any Transferred Entity has been granted, and no request
for such extension or waiver is pending.

 

(f)            There
are no Liens (other than Liens for current period Taxes not yet due and payable) on any of the Purchased Assets currently existing, pending
or, to the Knowledge of the Sellers, threatened in writing related to any unpaid Taxes.

 

(g)            Except
as set forth on Section 4.11(g) of the Disclosure Letter, no Transferred Entity is, or has been at any time, a member of any
affiliated, consolidated, combined, unitary or similar group for U.S. federal, state or non-U.S. Tax purposes.

 

(h)            No
Transferred Entity is a party to any Tax sharing, Tax allocation, Tax indemnification agreement or similar agreement (other than any
Tax sharing or indemnification provisions contained in any agreement entered into in the ordinary course of business and not primarily
relating to Taxes (e.g., customary leases, credit agreements or other customary commercial agreements)).

 

(i)            None
of the Purchased Assets or the assets of the Transferred Entities is subject to any tax partnership agreement (other than the tax partnership
agreement of a Seller Party).

 

(j)            Each
Transferred Entity is, and has been since its formation, an entity disregarded as separate from its owner in accordance with Treasury
Regulation Section 301.7701-3 for U.S. federal income tax purposes and any applicable provision of state or local income Tax Law.

 

(k)            No
Transferred Entity will be required to include any material item of income or gain in, or exclude any material item of deduction or loss
from, taxable income for any taxable period (or portion thereof) beginning on the Closing Date as a result of (i) any change in
method of accounting for a taxable period and ending before the Closing Date, (ii) any installment sale or open transaction disposition,
intercompany transaction or intercompany account made or existing before the Closing Date, (iii) any prepaid amount received since
before the Closing Date or (iv) any “closing agreement” within the meaning of Section 7121 of the Code (or any
corresponding or similar provision of applicable Tax Law) executed before the Closing Date.

 

(l)            No
Transferred Entity has deferred any obligation to pay Taxes pursuant to Section 2302 of the Coronavirus Aid, Relief and Economic
Security Act (or any corresponding or similar provision of any COVID-19 aid).

 

SECTION 4.12.     Employee
Benefits.

 

(a)            Section 4.12(a) of
the Disclosure Letter lists, as of the date of this Agreement, each material Seller Benefit Plan. With respect to each material Seller
Benefit Plan (other than the Multiemployer Plans), the Seller Group has delivered or made available to the Purchaser or its Representatives,
to the extent applicable, true, correct and complete copies of the current plan document (including any amendments thereto) and
the summary plan descriptions, the most recent determination letter (or opinion letter or advisory letter) received from the IRS, and
the most recent report filed on Form 5500 (with schedules attached).

 

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(b)            Each
Seller Benefit Plan (other than the Multiemployer Plans) has been administered and operated in compliance in all material respects with
(i) its terms and (ii) the applicable provisions of ERISA, the Code, the Patient Protection and Affordable Care Act and all
other applicable Laws.

 

(c)            Each
Seller Benefit Plan (other than the Multiemployer Plans) that is intended to meet the requirements of a “qualified plan”
under Section 401(a) of the Code has either received a favorable determination letter or is entitled to rely on an advisory
or opinion letter issued with respect to an IRS approved master and prototype or volume submitter plan, and to the Knowledge of the Sellers,
there are no existing circumstances or events that have occurred that would reasonably be expected to adversely affect such qualified
status.

 

(d)            Except
as set forth on Section 4.12(d) of the Disclosure Letter, no member of the Seller Group or any of their ERISA Affiliates contributes
to or is obligated to contribute to, or has at any time in the previous six years, contributed or had an obligation to contribute to,
and no Seller Benefit Plan is, a “multiemployer plan,” as defined in Section 3(37) of ERISA. With respect to each member
of the Seller Group or any of their ERISA Affiliates, there does not exist any Controlled Group Liability that would result in any material
liability, at or after the Closing, to the Purchaser or any of its ERISA Affiliates. With respect to each such Seller Benefit Plan identified
on Section 4.12(d) of the Disclosure Letter as a “multiemployer plan” (each a “Multiemployer Plan”),
(i) all contributions required to be paid by Sellers or their ERISA Affiliates have been timely paid to each such Multiemployer
Plan, and (ii) neither the Sellers nor any ERISA Affiliate has incurred any withdrawal liability under Title IV of ERISA that remains
unsatisfied.

 

(e)            Except
as set forth on Section 4.12(e) of the Disclosure Letter and other than as required under Sections 601 to 608 of ERISA or other
applicable Law, no Seller Benefit Plan provides post-termination or retiree health benefits to any individual (other than death benefits
when termination occurs upon death).

 

(f)            Except
as set forth on Section 4.12(f) of the Disclosure Letter, the execution and delivery of this Agreement by the Seller Parties
and the consummation of the Transactions will not (alone or in combination with any other event): (i) result in an increase in the
amount of compensation or benefits or the acceleration of the vesting or timing of payment of any compensation or benefits payable to
any Business Employee, or (ii) result in “excess parachute payments” within the meaning of Section 280G(b) of
the Code. No Seller Party, nor any of their ERISA Affiliates, has any obligation to gross up, indemnify, or otherwise reimburse any Person
for any excise taxes, interest, or penalties incurred under Section 409A or Section 4999 of the Code.

 

(g)            The
Transferred Entities do not sponsor, maintain, or contribute to, or have any Liability with respect to, a Seller Benefit Plan (other
than in their capacity as ERISA Affiliates of the Seller Parties).

 

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SECTION 4.13.     Labor
Matters.

 

(a)            Section 4.13(a) of
the Disclosure Letter sets forth, as of the date of this Agreement, a complete and accurate list of each collective bargaining arrangement
and any other Contract with a labor union or similar representative of employees that is applicable to any Business Employees (“Collective
Bargaining Agreements”). No demand for recognition as the bargaining representative of any Business Employee has been made
by or on behalf of any labor or similar organization that does not already represent a Business Employee (as reflected on Section 4.13(a) of
the Disclosure Letter), and there is no pending or, to the Knowledge of the Sellers, threatened in writing, material strike, lockout,
picketing, slowdown, work stoppage, or other labor disturbance by or with respect to any Business Employees.

 

(b)            Except
as set forth on Section 4.13(b) of the Disclosure Letter, there is no pending or, to the Knowledge of the Sellers, threatened
in writing material Action by or on behalf of any Business Employee by or before any Governmental Authority.

 

(c)            Except
as set forth on Section 4.13(c) of the Disclosure Letter, each Selling Entity, is, and has at all times been, in material compliance
with all applicable Laws with respect to labor, employment and employment practices (including with respect to all Laws relating to wages
and hours, overtime pay, classification of employees and independent contractors, anti- discrimination, anti-retaliation anti-harassment,
employee leave, occupational health and safety, recordkeeping, immigration, meal and rest breaks, employee notices, satisfaction of obligations
with respect to payment of accrued, unused vacation, collective bargaining and satisfaction of all requirements arising out of the Collective
Bargaining Agreements).

 

(d)            The
Transferred Entities do not employ, and have not previously employed, any employees. The Business Employees, together with the independent
contractors and temporary outsourced personnel engaged by the Selling Entities on the date hereof who are set forth on Section 4.13(d) of
the Disclosure Letter, represent the entirety of the individuals necessary to manage and operate the Business as currently managed and
operated.

 

SECTION 4.14. Environmental
Matters. Except as disclosed on Section 4.14 of the Disclosure Letter:

 

(a)            Each
Selling Entity and Transferred Entity is, and, except for matters which have been fully resolved, has at all times been, in compliance
in all material respects with all Laws and Judgments relating to pollution or the protection of the environment, natural resources, human
health or safety (to the extent relating to exposure to Hazardous Materials), or the presence, Release or threatened Release of Hazardous
Materials (“Environmental Laws”) applicable to the Business or operation thereof or the Purchased Assets, and no such
Selling Entity or Transferred Entity has received any written notice, which remains unresolved in any aspect, alleging a material violation
of or material Liability or obligation under any Environmental Law in connection with the conduct or operation of the Business or the
Purchased Assets and, to the Knowledge of the Sellers, there are no events or occurrences related to the Business or operation thereof
or the Purchased Assets that are reasonably likely to result in the receipt of such notice.

 

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(b)            Each
Selling Entity and Transferred Entity possesses and is in compliance in all material respects with any Permits required to be held by
it under Environmental Laws for the operation of the Business as currently conducted.

 

(c)            There
is no material Action under or pursuant to any Environmental Law under which there are outstanding or unresolved material Liabilities
that is pending or, to the Knowledge of the Sellers, threatened in writing against any Selling Entity or Transferred Entity with respect
to the conduct of the Business.

 

(d)            No
Selling Entity or Transferred Entity has become subject to any Judgment under Environmental Law imposed by any Governmental Authority
or to any assumption or retention by contract or operation of law of any Liabilities under Environmental Law or regarding any Hazardous
Materials, in each case of which there are outstanding or unresolved material Liabilities on the part of such Selling Entity or Transferred
Entity as applicable, with respect to the conduct of the Business.

 

(e)            There
have been no material Releases of Hazardous Materials on, at, under or from any Transferred Real Property and no Selling Entity or Transferred
Entity has received written notice, which remains unresolved in any aspect, alleging that any of them has Liability or obligation under
Environmental Law to perform any investigation, remediation, monitoring, corrective or curative action, treatment, clean-up, abatement,
containment, removal, mitigation, or response or restoration work with respect to the presence, Release or threatened Release of Hazardous
Materials at any real property offsite where any of them has transported or disposed or arranged for the transport or disposal of Hazardous
Materials.

 

(f)            To
the Knowledge of the Sellers, there has been no exposure of Persons or property to Hazardous Materials as a result of any Selling Entity’s
or Transferred Entity’s conduct of the Business that could form the basis of a material claim for damages or compensation.

 

(g)            The
Selling Entities have made available to the Purchaser complete and correct copies of all material environmental site assessments in the
possession or control of the Selling Entities, addressing material environmental Liabilities under, or compliance with Environmental
Laws and relating to the Business or operations thereof or the Purchased Assets.

 

SECTION 4.15.     Intellectual
Property.

 

(a)            Section 4.15(a) of
the Disclosure Letter sets forth a list, as of the date hereof, of all Patents, pending Patent applications, registered Trademarks, Trademark
applications, registered Copyrights, Copyright applications and domain name registrations included in the Transferred Intellectual Property
(the “Transferred Registered Intellectual Property”). All of the Transferred Registered Intellectual Property is subsisting
and, to the Knowledge of the Sellers, all Transferred Registered Intellectual Property (excluding applications for registration) are
valid and enforceable.

 

(b)            Except
as set forth on Section 4.15(b) of the Disclosure Letter, each applicable Selling Entity exclusively owns all Transferred Intellectual
Property transferred by it hereunder.

 

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(c)            No
Actions are pending, and since January 1, 2015, no Selling Entity, Dealership or Transferred Entity has received any written notice
or claim, (i) challenging the ownership, validity or enforceability of any Transferred Intellectual Property or (ii) alleging
that the Selling Entity or Transferred Entity is infringing, misappropriating or otherwise violating the Intellectual Property rights
of any Person in connection with the conduct of the Business in any material respect. To the Knowledge of the Sellers, since January 1,
2015, the conduct of the Business has not infringed, misappropriated or otherwise violated and does not infringe, misappropriate or otherwise
violate the Intellectual Property rights of any Person, in each case in any material respect.

 

(d)            To
the Knowledge of the Sellers, since January 1, 2015, no Person has been infringing, misappropriating or otherwise violating any
Transferred Intellectual Property in any material respect.

 

(e)            (i) Each
Selling Entity and Transferred Entity has at all times conducted the Business in material compliance with all applicable Information
Security and Privacy Requirements in all material respects and (ii) no Action by any Governmental Authority, and no material Action
by any other Person, is pending or, to the Knowledge of the Sellers, threatened in writing against any Selling Entity or Transferred
Entity alleging a violation of any Person’s privacy rights or Personally Identifiable Information by any of them, in connection
with their conduct of the Business. No Selling Entity or Transferred Entity has provided or been legally required to provide any notice
to data owners or a Governmental Authority in connection with any unauthorized access, use, or disclosure of Personally Identifiable
Information. The Selling Entities and Transferred Entities have taken reasonable measures to protect the confidentiality of trade secrets
and confidential information used in and material to the Business.

 

(f)            (i) To
the Knowledge of the Sellers, the IT Systems used by the Business do not contain any malware that would reasonably be expected to interfere
with the conduct of the Business in any material respect, and (ii) such IT Systems are reasonably sufficient for the operation of
the Business as currently conducted by the Seller Group as of the date of this Agreement. The Selling Entities and Transferred Entities
have taken commercially reasonable steps to provide for the back-up and recovery of data and information, have commercially reasonable
disaster recovery plans, procedures and facilities, and, as applicable, take commercially reasonable steps to implement such plans and
procedures, including by implementing plans and procedures designed to (A) manage mobile devices, including those provided to employees
or contractors by the Selling Entities and Transferred Entities, (B) provide continuous monitoring and alerting of any problems
or issues with the IT Systems, and (C) monitor network traffic for threats and scan and assess vulnerabilities in the IT Systems.
Except as set forth on Section 4.15(f) of the Disclosure Letter, there has been no breach, failure, or substandard performance,
of any IT Systems of the Selling Entities and Transferred Entities or, to the Knowledge of the Sellers, their contractors, that has caused
any material disruption to the Business or resulted in any unauthorized disclosure of or access to any data owned, collected or controlled
by the Selling Entities or the Transferred Entities, including Personally Identifiable Information.

 

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SECTION 4.16.     Transferred
Real Property.

 

(a)            Section 2.02(a)(i)(B) of
the Disclosure Letter sets forth a complete and accurate list of the Transferred Leased Real Property, comprised of the addresses of
such Transferred Leased Real Property. With respect to each Transferred Real Property Lease (i) the applicable Selling Entity or
Transferred Entity has a valid leasehold, subleasehold or licensee interest in the Transferred Leased Real Property subject to no Liens
other than Permitted Liens, (ii) such Transferred Real Property Lease
is in full force and effect, (iii) there exists no material default on the part of the relevant Selling Entity or Transferred Entity
that is party to any such Transferred Real Property Lease, and, to the Knowledge of Sellers, no landlord, sublandlord or licensor under
such Transferred Real Property Lease is in material default thereunder, (iv) neither the relevant Selling Entity nor Transferred
Entity nor any other member of the Seller Group has received written notice of any material default or event that, with notice or lapse
of time, or both, would constitute a material default under any such Transferred Real Property Lease, and (v) to the Knowledge of
the Sellers, no event has occurred that, with or without notice or lapse of time or both, would result in a material default by the relevant
Selling Entity or Transferred Entity under such Transferred Real Property Lease or by the landlord, sublandlord or licensor thereunder,
and (vi) to the Knowledge of the Sellers, there exists no material unresolved dispute under any Transferred Real Property Leases
with the applicable landlord, sublandlord or licensor thereunder. True, correct and complete copies of (i) the Transferred Real
Property Leases and all material amendments, modifications, supplements, renewals, extensions and memoranda thereof have been made available
to the Purchaser, and (ii) all estoppel certificates and subordination, non- disturbance and attornment agreements related to the
Transferred Real Property Leases have been made available to the Purchaser to the extent that the foregoing are currently in the reasonable
possession or control of the Seller Group as of the date hereof. Except as set forth on Section 4.16(a) of the Disclosure Letter,
no Consent or approval by the landlord, sublandlord or licensor is required under any Transferred Real Property Lease as a result of
the execution or performance of this Agreement or the consummation of the Transactions.

 

(b)            Section 4.16(b) of
the Disclosure Letter sets forth a list as of the date hereof of all leases, subleases, licenses or other agreements under which a Selling
Entity or Transferred Entity has granted to any third party the right to use or occupy any portion of the Transferred Real Property (“Third
Party Leases”). True, correct and complete copies of (i) the Third Party Leases and all material amendments, modifications,
supplements, renewals, extensions and memoranda thereof have been made available to the Purchaser, and (ii) all estoppel certificates
and subordination, non-disturbance and attornment agreements related to the Third Party Leases have been made available to the Purchaser
to the extent that the foregoing are currently in the possession or reasonable control of the Seller Group as of the date hereof. Except
for the Third Party Leases and any leases to Affiliates of the Seller Group that will be terminated at and as of Closing, members of
the Seller Group have exclusive possession of the applicable Transferred Real Property and have not leased, subleased, licensed, sublicensed
or granted occupancy rights to any third party in or to any portion of the Transferred Real Property. No member of the Seller Group is
in material breach or default under any Third Party Lease, and to the Knowledge of the Sellers, no tenant, lessee, subtenant, licensee
or other counterparty is in material default under any Third Party Lease.

 

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(c)            Section 2.02(a)(i)(A) of
the Disclosure Letter sets forth a complete and accurate list of the Transferred Owned Real Property comprised of the addresses of the
Transferred Owned Real Property. The applicable Selling Entities or Transferred Entities have good, valid and insurable fee simple title
to all Transferred Owned Real Property, free and clear of all Liens, other than Permitted Liens.

 

(d)            True,
correct, and complete copies of all existing owner’s title policies currently in effect, title reports, surveys, engineering consultants’
reports and property condition reports relating to the Transferred Owned Real Property in possession of the Seller Group as of the date
hereof have been made available to the Purchaser.

 

(e)            Except
as set forth on Section 4.16(e) of the Disclosure Letter: (i) the Transferred Real Property constitutes all of the Real
Property interests owned, leased, licensed, used or held for use by the Seller Group in the conduct of the Business in the ordinary course,
and, as a whole, are sufficient Real Property interests in all material respects for the continued conduct and operation of the Business
in the ordinary course and (ii) the Seller Group members do not own, lease, license, use, or hold any Real Property or interest
in Real Property that, in the twelve (12) months prior to the date of this Agreement, has not been used by the Seller Group in connection
with the Business and is not reasonably expected to return to operational service.

 

(f)            Except
as would not reasonably be expected to be material to the Business, all buildings, structures, and improvements on the Transferred Real
Property are in good operating condition and repair (ordinary wear and tear excepted) and are sufficient for the uses in which such property
is presently employed.

 

(g)            To
the Knowledge of the Sellers, (x) the Transferred Real Property is in compliance, in all material respects, with all zoning, land
use, and similar Laws applicable thereto and (y) no member of the Seller Group has received written notice of non-compliance with
any applicable material restrictive covenants and building codes.

 

(h)            No
member of the Seller Group has received notice of any eminent domain, land-use, Permit-related or other similar Actions pending or, to
the Knowledge of the Sellers, threatened in writing against any Transferred Real Property (and, to the Knowledge of the Sellers, there
is no such Action or proceeding pending or threatened in writing) which in each case would result in the termination or material and
permanent impairment of any access by any of the Transferred Real Property to a dedicated public street, road, highway or other right-of-way.

 

(i)            Except
as set forth on Section 4.16(i) of the Disclosure Letter, there are no Actions which are pending or, to the Knowledge of the
Sellers, which have been threatened in writing against, or are affecting, the Transferred Real Property or any part thereof in any court
or before any arbitrator, board or governmental or administrative agency or other Person or entity which would reasonably be expected
to materially and adversely (A) affect the Transferred Real Property or any portion thereof or (B) impair the existing use
and operation of the Transferred Real Property.

 

(j)            (1) There
are no unexercised options, rights of first offer or rights of first refusal to purchase any portion of or interest in the Transferred
Owned Real Property and (2) to the Knowledge of the Sellers, there are no unexercised options, rights of first offer or rights of
first refusal to purchase any portion of or interest in the Transferred Leased Real Property.

 

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(k)            Except
for the Transferred Contracts, there are no service contracts, maintenance contracts, equipment contracts or operating agreements in
existence with respect to any Transferred Real Property to which a member of the Seller Group is a party that burden such Transferred
Real Property and will be binding upon the Purchaser from and after Closing.

 

SECTION 4.17.     Manufacturers;
Warranties; Customer Deposits; We Owes.

 

(a)            Other
than Contracts that have expired pursuant to their terms or that were terminated by a Selling Entity or Transferred Entity, in connection
with the sale of a dealership business to a third party or terminations of or other such notices under Manufacturer Agreements that have
been rescinded or otherwise made ineffective, or as set forth on Section 4.17(a) of the Disclosure Letter, since January 1,
2018 through the date of this Agreement, no Manufacturer has terminated its Manufacturer Agreement with such Selling Entity or Transferred
Entity and no Manufacturer has provided written notice to a Selling Entity or Transferred Entity that it intends to terminate its Manufacturer
Agreement or cease doing business thereunder with a Selling Entity or Transferred Entity. Except as set forth on Section 4.17(a) of
the Disclosure Letter, since January 1, 2018 through the date of this Agreement (except for such notices that have been rescinded
or otherwise made ineffective), no Manufacturer has provided written notice to a Selling Entity of (i)
any material deficiency in Dealership operations (including, but not limited to, brand imaging, facility conditions, sales efficiency,
customer satisfaction, warranty work and reimbursement, or sales incentives) or (ii) a present or future need for material facility
improvements or upgrade. Since January 1, 2020 through the date of this Agreement (except for such notices that have been rescinded
or otherwise made ineffective), no Manufacturer has provided written notice to a Selling Entity of the awarding or possible awarding
of a Manufacturer dealership to any person or entity in the Metropolitan Statistical Areas in which a Business operates.

 

(b)            Except
as set forth on Section 4.17(b) of the Disclosure Letter, none of the Selling Entities or Transferred Entities have, and none
have agreed in writing to accept for others, any warranty or service obligations to any third party Person, and none of the Selling Entities
or Transferred Entities have offered their customers any marketing or added-value programs or plans for which such Selling Entities or
Transferred Entities are responsible for administration or the liability thereof, including programs commonly called “tires for
life”, “oil changes for life”, “car wash/detailing service plans”, “rewards programs” or any
similar offers (collectively, “Marketing Programs”), except as may be required by any Manufacturer with respect to
programs, warranties and similar products pursuant to the terms of the applicable Manufacturer Agreement.

 

(c)            The
written reports, statements and financial statements prepared by the Seller Group for the Manufacturers and provided to the Manufacturers
were prepared, in all material respects, in accordance with each of the Manufacturer’s written standards and guidelines applicable
to the Business.

 

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SECTION 4.18.     Contracts.

 

(a)            Section 4.18(a) of
the Disclosure Letter sets forth a list of all Material Business Contracts as of the date of this Agreement. For purposes of this Agreement,
 “Material Business Contract” means any Contract (other than Seller Benefit Plans and Transferred Real Property Leases)
to which a Selling Entity or Transferred Entity is a party or bound:

 

(i)               
that provides for the formation, creation, governance, economics or control of any joint venture, partnership
or similar arrangement with respect to the Business;

 

(ii)               under
which (A) any Person guarantees, directly or indirectly, any material Indebtedness of a Selling Entity or Transferred Entity or
(B) any Selling Entity or Transferred Entity guarantees any material Indebtedness of any Person, in each case in connection with
the conduct of the Business;

 

(iii)              that
grants a Lien (other than a Permitted Lien) on any material Purchased Asset (other than a Lien that will be released on or before the
Closing Date);

 

(iv)              that
is a Contract (other than purchase orders, task orders or delivery orders or orders from the Manufacturers in the ordinary course) for
the purchase or sale of inventory, materials, Supplies, goods, services, equipment or other assets in connection with the conduct of
the Business, the performance of which will extend over a period of more than one year from the date of this Agreement and which provides
for (or would reasonably be expected to involve) annual payments by a Selling Entity or Transferred Entity or to a Selling Entity or
Transferred Entity of more than $75,000 and is not terminable with no more than 90 days’ notice without penalty;

 

(v)               that
is a Manufacturer Agreement;

 

(vi)              contains
provisions that (A) prohibit a Selling Entity or Transferred Entity from competing in or entering any territory, market or field
or freely engaging in business anywhere in the world, or (B) grant a right of exclusivity to any Person, other than (1)
Contracts that can be terminated (including such restrictive provisions) by the Selling Entity or Transferred Entity on less than
90 days’ notice without payment by the Selling Entity or Transferred Entity of any material penalty, (2) any Manufacturer
Agreement and (3) license agreements for Intellectual Property rights
limiting the Selling Entity’s or Transferred Entity’s use of such Intellectual Property rights to specified territories,
markets or fields of use;

 

(vii)            between
a Selling Entity or Transferred Entity, on the one hand, and any member of the Seller Group or their Affiliates, on the other hand, to
the extent related to the Business or any Purchased Asset, other than commercial arrangements between such Persons in the ordinary course
of business and on substantially arm’s length terms (each, an “Affiliate Agreement”);

 

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(viii)            reflecting
a settlement of any threatened or pending Action either (A) entered into
since January 1, 2019 and under which a payment in excess of $100,000 was made by or on primarily on behalf of the Business or (B) containing
continuing obligations or restrictions on the Business or any Transferred Entity other than ordinary course obligations or restrictions
such as confidentiality, non-disparagement, etc.;

 

(ix)              pursuant
to which a Person (other than the Purchaser) has a right to acquire all or any material portion of the Business or any dealership rights
or contract rights of the Selling Entities (except pursuant to any of the Manufacturer Agreements);

 

(x)               pursuant
to which any Selling Entity or Transferred Entity has granted to any Person a license with respect to any material Transferred Intellectual
Property other than non-exclusive licenses entered into in the ordinary course of business;

 

(xi)              that
contains a license for the Business to use any Person’s material Intellectual Property, other than licenses for open source software
or commercially available software or services (including software-as-a-service) involving total annual consideration of less than $100,000;
and

 

(xii)          
   that grants a right of first refusal or similar purchase rights with respect to any Purchased
Asset to a third party other than a Manufacturing Agreement.

 

(b)            (i) Each
Material Business Contract is in full force and effect and is valid, binding and enforceable against the Selling Entity or Transferred
Entity party thereto, and to the Knowledge of the Sellers, each other party thereto, in accordance with its terms, in each case subject
to the Bankruptcy and Equity Exception, except where the failure to be valid, binding or in full force and effect would not, individually
or in the aggregate, reasonably be expected to be materially adverse to the Business and the Purchased Assets, taken as a whole, and
(ii) neither the Selling Entity or Transferred Entity party thereto nor, to the Knowledge of the Sellers, any other party to a Material
Business Contract is in breach or violation of, or default under, any Material Business Contract and, to the Knowledge of the Sellers,
no event has occurred that with or without notice or lapse of time or both would constitute a breach or default (whether by lapse of
time or notice or both) or give any Person a right of acceleration or early termination thereof, except as would not reasonably be expected
to be, individually or in the aggregate, materially adverse to the Business and the Purchased Assets, taken as a whole. Prior to the
date of this Agreement, the Seller Parties have made available to the Purchaser a true and complete copy of each Material Business Contract
(including all material modifications and amendments thereto and waivers thereunder).

 

(c)            To
the Knowledge of the Sellers, as of the date of this Agreement, there are no Transferred Pre-Closing Contractual Liabilities existing
as of the date of this Agreement.

 

SECTION 4.19. Insurance.
All insurance policies of the Seller Group, solely to the extent such policies provide coverage for the Business, are in full force and
effect, no written notice of cancelation or modification has been received as of the date of this Agreement other than in connection
with ordinary renewals, and there is no existing default or event which, with the giving of notice or lapse of time or both, would constitute
a default, by any insured thereunder. Section 4.19 of the Disclosure Letter identifies all material policies (including historic
occurrence- based policies) of insurance currently maintained as of the date of this Agreement by, or on behalf of, the Seller Group
with respect to the Business or the Purchased Assets, setting forth the name of the insurer, the holder of each such policy, the nature
of coverage, and the expiration dates thereof. As of the date of this Agreement, with respect to the Business or the Purchased Assets,
there is no material claim by the Seller Group currently pending under any such insurance as to which coverage has been denied or disputed
by the insurers of such policies.

 

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SECTION 4.20. Brokers
and Other Advisors. Except for Jefferies LLC, the fees and expenses of which will be paid by the Seller Parties or their Affiliates
(excluding any Transferred Entity), no broker, investment banker, financial advisor or other Person is entitled to any broker’s,
finder’s, financial advisor’s or other similar fee or commission, or the reimbursement of expenses in connection therewith,
in connection with the Transactions based upon arrangements made by or on behalf of any member of the Seller Group.

 

SECTION 4.21. No Other
Representations or Warranties. Except for the representations and warranties expressly made by the Seller Parties in this Article IV
(qualified by the Disclosure Letter) and in the certificates required to be delivered by the Seller Parties under Section 8.02,
no member of the Seller Group, their respective Affiliates nor any other Person (whether or not acting on behalf of the Seller Group
or their respective Affiliates) has made or makes any other representation or warranty of any kind whatsoever, whether express or implied,
written or oral, with respect to the Transferred Entities, the Purchased Assets, the Transferred Interests or the Assumed Liabilities
or the Business (including the business, operations, properties, assets, Liabilities, condition (financial or otherwise) or prospects
of the Business or any estimates, projections, forecasts and other forward-looking information or business and strategic plan information
relating to the Business), including any representation or warranty as to accuracy or completeness of, or lack of errors or omissions
in, any information regarding any of the foregoing furnished or made available (in any medium) to the Purchaser, any of its Affiliates
or any of its and their respective Representatives or any other Person, notwithstanding the delivery or disclosure to the Purchaser,
any of its Affiliates or any of its and their respective Representatives of any documentation, forecasts or other information (in any
form or through any medium) with respect to any one or more of the foregoing. In particular, and without limiting the generality of the
foregoing, no member of the Seller Group, their respective Affiliates nor any other Person (whether or not acting on behalf of the Seller
Group or their respective Affiliates) makes or has made any representation or warranty of any kind, whatsoever, express or implied, written
or oral, to the Purchaser, any of its Affiliates or any of its and their respective Representatives or any other Person with respect
to (a) any forward-looking information, projections, forecasts, estimates, plans or budgets of future revenue, expenses or expenditures,
future results of operations, future cash flows or the future financial condition of the Business, the Transferred Entities or the future
business, operations or affairs of the Business or the Transferred Entities or (b) any matter arising from, or which may otherwise
be applicable because of the provisions of, any Law, including the warranties of merchantability and fitness for a particular purpose,
in each case, except for the representations and warranties made by the Seller Parties expressly contained in this Article IV
(as qualified by the Disclosure Letter) and in the certificates required to be delivered by the Seller Parties under Section 8.02.

 

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ARTICLE V

 

Representations and Warranties of the Purchaser

 

The Purchaser represents and warrants to the Sellers as follows:

 

SECTION 5.01. Organization;
Standing. The Purchaser is an entity duly organized, validly existing and in good standing under the Laws of the jurisdiction of
its organization and has all requisite power and authority necessary to carry on its business as it is now being conducted, except (other
than with respect to its due organization and valid existence) as would not, individually or in the aggregate, reasonably be expected
to prevent or materially delay, interfere with, hinder or impair (a) the consummation of any of the Transactions on a timely basis
or (b) the compliance by the Purchaser with its obligations under the Transaction Documents. The Purchaser is duly licensed or qualified
to do business and is in good standing in each jurisdiction in which the nature of the business conducted by it or the character or location
of the properties and assets owned or leased by it makes such licensing or qualification necessary, except where the failure to be so
licensed, qualified or in good standing would not, individually or in the aggregate, reasonably be expected to prevent or materially
delay, interfere with, hinder or impair (i) the
consummation of any of the Transactions on a timely basis or (ii) the compliance by the Purchaser with its obligations under the
Transaction Documents.

 

SECTION 5.02.     Authority;
Noncontravention.

 

(a)            The
Purchaser has all necessary power and authority to execute and deliver the Transaction Documents and to perform its respective obligations
hereunder and thereunder and to consummate the Transactions. The execution, delivery and performance by the Purchaser of the Transaction
Documents, and the consummation by it of the Transactions, have been duly authorized by the Purchaser and no other corporate or similar
action on the part of the Purchaser is necessary to authorize the execution, delivery and performance by the Purchaser of the Transaction
Documents and the consummation by it of the applicable Transactions. This Agreement has been, and each of the other Transaction Documents
has been or will be, as applicable, duly executed and delivered by the Purchaser and, assuming the due authorization, execution and delivery
hereof or thereof by the Seller Parties or their applicable Affiliates, each constitutes a legal, valid and binding obligation of the
Purchaser, enforceable against the Purchaser in accordance with its terms, except insofar as such enforceability may be limited by the
Bankruptcy and Equity Exception.

 

(b)            Neither
the execution and delivery by the Purchaser of the Transaction Documents, the consummation by the Purchaser of the Transactions, nor
the performance or compliance by the Purchaser with the applicable terms or provisions hereof or thereof, will (i)
conflict with or violate any provision of the organizational documents of the Purchaser or (ii)
assuming that the Consents referred to in Section 5.03 are obtained prior to the Closing and the filings referred
to in Section 5.03 are made and any waiting periods thereunder have terminated or expired prior to the Closing, (A) violate
any Law or Judgment applicable to the Purchaser or (B) violate or constitute
a default under any of the terms, conditions or provisions of any Contract to which the Purchaser is a party or give rise to a right
of termination, cancelation or acceleration or loss of a material benefit under any such Contract, except, in the case of the foregoing
clause (b), as would not, individually or in the aggregate, reasonably be expected to prevent or materially delay, interfere with, hinder
or impair (1) the consummation of any of the Transactions on a timely basis or (2) the compliance by the Purchaser with its
obligations under the Transaction Documents.

 

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SECTION 5.03. Governmental
Approvals. Except for filings required under, and compliance with other applicable requirements of, the HSR Act, no Consent of any
Governmental Authority is necessary for the execution and delivery by the Purchaser of the Transaction Documents, the performance by
the Purchaser of its obligations hereunder or thereunder and the consummation by the Purchaser of the Transactions, other than such other
Consents that, if not obtained, made or given, would not, individually or in the aggregate, reasonably be expected to prevent or materially
delay, interfere with, hinder or impair (a) the consummation of any of the Transactions on a timely basis or (b) the compliance
by the Purchaser with its obligations under the Transaction Documents.

 

SECTION 5.04.     Financial
Ability to Perform.

 

(a)            The
Purchaser has as of the date hereof, and at Closing will have, sufficient Cash, available lines of credit or other sources of immediately
available funds available to it, in each case sufficient, when taken together with the net Cash proceeds of the debt financing contemplated
by the Debt Commitment Letter (as defined below), assuming such debt financing is funded, to enable the Purchaser to perform all of its
obligations hereunder, including delivering the Closing Purchase Price and any amount required to be delivered by it in accordance with
Section 2.07, as and when contemplated by this Agreement and to pay all related costs, fees and expenses of the Purchaser
that are necessary to consummate the Transactions, and the Purchaser has provided written evidence thereof to the Seller Parties prior
to the date hereof. Without limiting Section 11.09, in no event shall the receipt or availability of any funds or financing
by or to the Purchaser or any of its Affiliates, including any Debt Financing, or any other financing transaction be a condition to any
of the obligations of the Purchaser hereunder, including to consummate the Transactions hereunder.

 

(b)            The
Purchaser has delivered to the Seller Parties, on or prior to the date hereof, a true, complete and correct copy of a duly executed debt
commitment letter (as attached hereto as Exhibit F, including all related fee letters and side letters (as customarily redacted
for a transaction of this nature with respect to fees, none of which redacted terms would reasonably be expected to adversely affect
conditionality, amount or availability of the debt financing contemplated by the Debt Commitment Letter), and all exhibits, schedules,
annexes, supplements and term sheets forming a part thereof), addressed to the Purchaser and dated as of the date hereof (as amended
or modified only in accordance with Section 7.18, the “Debt Commitment Letter”), from the Financing Sources
party thereto, pursuant to which such Financing Sources have committed to provide the Purchaser with debt financing for the transactions
contemplated hereby in an aggregate amount as set forth therein. As of the date hereof, the Debt Commitment Letter is a legal, valid
and binding obligation of the Purchaser and, to the Knowledge of the Purchaser, the other parties thereto, is in full force and effect,
and is enforceable against the parties thereto in accordance with its terms, subject to the Bankruptcy and Equity Exception. There are
no side letters or other Contracts, agreements or understandings to which the Purchaser or any of its Affiliates is a party relating
to the debt financing contemplated by the Debt Commitment Letter other than as expressly set forth in the Debt Commitment Letter. Except
as specifically set forth in the Debt Commitment Letter, (i) there are no conditions precedent to the obligations of any Financing
Sources to fund the debt financing contemplated by the Debt Commitment Letter and (ii) there are no contingencies pursuant to any
Contract, agreement or other understanding relating to the transactions contemplated hereby to which the Purchaser or any of its Affiliates
is a party that would permit the Financing Sources to reduce the total amount of the debt financing contemplated by the Debt Commitment
Letter or impose any additional condition precedent that would adversely affect, prevent or delay the availability of the debt financing
contemplated by the Debt Commitment Letter. As of the date of this Agreement, (i) the Debt Commitment Letter has not been amended
or modified (and no such amendment or modification is contemplated as of the date of this Agreement) and (ii) the commitments set
forth in the Debt Commitment Letter have not been withdrawn or rescinded in any respect (and no such withdrawal or rescission is contemplated
as of the date of this Agreement). No event has occurred, and the Purchaser has not received any notice or other communication from any
other party to the Debt Commitment Letter with respect to the occurrence of any event, which, with or without notice, lapse of time or
both, would or could reasonably be expected to result in any breach by the Purchaser of, or constitute a default by the Purchaser under,
any term or condition to closing of the Debt Commitment Letter, and as of the date hereof, to the Knowledge of the Purchaser, no other
party to the Debt Commitment Letter is in breach of the Debt Commitment Letter. The Purchaser (i) is not aware of any fact or occurrence
that makes any of the representations or warranties of the Purchaser in the Debt Commitment Letter inaccurate in any material respect,
(ii) has no reason to believe that it will be unable to satisfy on a timely basis any term or condition of closing to be satisfied
by it or its Affiliates contained in the Debt Commitment Letter and (iii) has no reason to believe that any portion of the debt
financing contemplated by the Debt Commitment Letter required to consummate the transactions contemplated hereby will not be made available
to the Purchaser on the Closing Date. The Purchaser has fully paid any and all commitment fees and other fees required by the Debt Commitment
Letter to be paid as of the date of this Agreement. To the extent this Agreement must be in a form acceptable to any Financing Source(s),
such Financing Source(s) have approved this Agreement.

 

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SECTION 5.05. Solvency.
As of the Closing and immediately after giving effect to the Transactions and the payment of the Closing Purchase Price, payment of all
amounts required to be paid by the Purchaser in connection with the consummation of the Transactions, and payment of all related fees
and expenses of the Purchaser, the Purchaser and its Subsidiaries, on a consolidated basis taken as a whole, will be Solvent. For the
purposes of this Agreement, the term “Solvent”, when used with respect to any Person and its Subsidiaries, on a consolidated
basis, means that, as of any date of determination, (a) the amount of the “fair saleable value” of the assets of such
Person and its Subsidiaries, on a consolidated basis, will, as of such date, exceed (i) the value of all “liabilities of such
Person and its Subsidiaries, on a consolidated basis, including contingent and other liabilities”, as of such date, as such quoted
terms are generally determined in accordance with applicable Laws governing determinations of the insolvency of debtors, and (ii) the
amount that will be required to pay the probable liabilities of such Person and its Subsidiaries, on a consolidated basis, as of such
date, on their existing debts (including contingent and other liabilities) as such debts become absolute and mature, (b) such Person
and its Subsidiaries, on a consolidated basis, will not have, as of such date, an unreasonably small amount of capital for the operation
of the businesses in which they are engaged or proposed to be engaged following such date, and (c) such Person and its Subsidiaries,
on a consolidated basis, will be able to pay their liabilities, including contingent and other liabilities, as they mature. For purposes
of this definition, “not have an unreasonably small amount of capital for the operation of the businesses in which they are engaged
or proposed to be engaged” and “able to pay their liabilities, including contingent and other liabilities, as they mature”
means that such Person and its Subsidiaries, on a consolidated basis, will be able to generate enough cash from operations, asset dispositions
or refinancing, or a combination thereof, to meet their obligations as they become due.

 

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SECTION 5.06. Investment
Representation. The Purchaser is acquiring the Transferred Interests for its own account with the present intention of holding such
securities for investment purposes and not with a view to, or for sale in connection with, any distribution of such securities. The Purchaser
is an “accredited investor” within the meaning of Rule 501(a) of Regulation D under the Securities Act of 1933,
as amended, and the rules and regulations promulgated thereunder (the “Securities Act”). The Purchaser acknowledges
that the Transferred Interests have not been registered under the Securities Act or any other securities Laws and may not be transferred
or sold except pursuant to the registration provisions of the Securities Act or an applicable exemption therefrom and subject to state
securities laws and regulations, as applicable. The Purchaser acknowledges that the Transferred Interests are being transferred to the
Purchaser, in part, in reliance on the foregoing representation.

 

SECTION 5.07.     Brokers
and Other Advisors. Except for Lazard Freres  & Co. LLC, the fees and expenses of which will be paid by the Purchaser, no
broker, investment banker, financial advisor or other Person is entitled to any broker’s, finder’s, financial advisor’s
or other similar fee or commission, or the reimbursement of expenses in connection therewith, in connection with the Transactions based
upon arrangements made by or on behalf of the Purchaser.

 

SECTION 5.08.     Legal
Proceedings. Except as would not, individually or in the aggregate, reasonably be expected to prevent or materially delay, interfere
with, hinder or impair (x) the consummation of any of the Transactions
on a timely basis or (y) the compliance by the Purchaser with its obligations under the Transaction Documents, there is no (a) pending
or, to the Knowledge of the Purchaser, threatened Action against the Purchaser or (b) Judgment imposed upon or affecting the Purchaser.

 

SECTION 5.09.     Manufacturer
Approval. Except as disclosed in Section  5.09 of the Disclosure Letter, as of the date hereof, the Purchaser has no Knowledge,
and has not received any notice or indication from any Manufacturer, whether or not pursuant to any framework or other agreement of the
Purchaser or its Affiliates with any Manufacturer, that the Purchaser will not receive, or is not likely to receive, such Manufacturer’s
approval to complete the Transactions.

 

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SECTION 5.10. No Other
Representations or Warranties; Non-Reliance. The Purchaser acknowledges that it and its Representatives have received access to such
books and records, facilities, vehicles, Contracts and other assets of the Business which it and its Representatives have desired or
requested to review, and that it and its Representatives have had full opportunity to meet with the management of the Business and to
discuss the Business, the Transferred Entities, the Transferred Interests, the Purchased Assets and the Assumed Liabilities. Except for
the representations and warranties expressly made by the Seller Parties set forth in Article IV (qualified by the Disclosure
Letter) and in the certificates required to be delivered by the Seller Parties under Section 8.02, the Purchaser hereby acknowledges
that no member of the Seller Group, any of their Affiliates, nor any other Person (whether or not acting on behalf of the Seller Group
or their respective Affiliates), (a) has made or makes any other representation or warranty of any kind whatsoever, whether express
or implied, written or oral, with respect to the Transferred Entities, the Purchased Assets, the Transferred Interests or the Assumed
Liabilities or the Business (including the business, operations, properties, assets, Liabilities, condition (financial or otherwise)
or prospects of the Business or any estimates, projections, forecasts and other forward-looking information or business and strategic
plan information relating to the Business), including any representation or warranty as to accuracy or completeness of, or lack of errors
or omissions in, any information regarding any of the foregoing furnished or made available (in any medium) to the Purchaser, any of
its Affiliates or any of its and their respective Representatives or any other Person, notwithstanding the delivery or disclosure to
the Purchaser, any of its Affiliates or any of its and their respective Representatives of any documentation, forecasts or other information
(in any form or through any medium) with respect to any one or more of the foregoing or (b) will have or be subject to any Liability
or indemnification obligation to the Purchaser resulting from the delivery, dissemination or any other distribution to the Purchaser
or any of its Representatives (in any form whatsoever and through any medium whatsoever), or the use by the Purchaser or any of its Representatives,
of any information, documents, estimates, projections, forecasts or other forward-looking information, plans or budgets of future revenue,
expenses or expenditures, future results of operations, future cash flows or future financial condition of the Business, the Transferred
Entities or the future business, operations or affairs of the Business or the Transferred Entities or other material developed by or
provided or made available to the Purchaser or any of its Representatives, including in due diligence materials, “data rooms”
or management presentations (formal or informal, in person, by phone, through video or in any other format), in anticipation or contemplation
of any of the Transactions. The Purchaser, on behalf of itself and on behalf of its Affiliates and its and their respective Representatives,
expressly waives any such claim relating to the foregoing matters. The Purchaser hereby acknowledges (for itself and on behalf of its
Affiliates and its and their respective Representatives) that (i) it has conducted, to its satisfaction, its own independent investigation
of the Business and the Transferred Entities and their respective operations, assets and financial condition and, in making its determination
to proceed with the Transactions, the Purchaser and its Affiliates and its and their respective Representatives have relied on the results
of their own independent investigation and (ii) the Purchaser is taking full responsibility for making its own evaluation of the
adequacy and accuracy of all estimates, projections, forecasts and other forward-looking information, as well as such business plans,
so furnished to it (including the reasonableness of the assumptions underlying such estimates, projections, forecasts, forward-looking
information or business plans), and that the Purchaser has not relied on such information.

 

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ARTICLE VI

 

Covenants
Relating to Conduct of Business

 

SECTION 6.01.     Conduct
of Business Before the Closing.

 

(a)            Except
(x) as required by applicable Law, Judgment or a Governmental Authority, (y) as contemplated, required or permitted by this
Agreement or (z) during the period from the date of this Agreement until the Closing (or such earlier date on which this Agreement
is terminated pursuant to Section 9.01), unless the Purchaser otherwise consents in writing (such consent not to be unreasonably
withheld, delayed or conditioned), the Seller Parties shall, and shall cause the Selling Entities, the members of the Seller Group, and
each of the Transferred Entities to, use its commercially reasonable efforts to:

 

(i)                carry
on the Business in all material respects in the ordinary course;

 

(ii)               use
commercially reasonable efforts to preserve intact the Business, including the Purchased Assets, the Contracts, the business organization
and the goodwill of the Business, and the current relationships of the Seller Group with its customers, suppliers, Governmental Authorities
and others with significant and recurring business dealings with the Business;

 

(iii)              maintain
all insurance policies and all Permits related to the Business or to the Seller Group in substantially the manner in effect as of the
date hereof;

 

(iv)              maintain
the existence and good standing of each Selling Entity in its jurisdiction of organization and in each other jurisdiction in which the
ownership or leasing of properties or its operations makes qualification or registration necessary;

 

(v)               not
transfer any inventory or employee of the Business to any Selling Entity’s (or any Selling Entity’s owners’) other
business (other than the Business), or transfer any inventory or employee of any of any Selling Entity’s (or its owners’)
other businesses (other than the Business) to the Business; and

 

(vi)              maintain
the books, Records and accounts related to the Business, the Purchased Assets and Transferred Interests in the ordinary course of business,
including with respect to the recording of revenue and expenses and the recording and collection of its accounts receivable;

 

provided
that no action by any member of the Seller Group with respect to matters specifically addressed by Section 6.01(b) shall
be deemed to be a breach of this Section 6.01(a) unless such action would constitute a breach of Section 6.01(b).

 

(b)            Except
as required by applicable Law, Judgment or a Governmental Authority, as contemplated, required or permitted by this Agreement or as set
forth on Section 6.01(b) of the Disclosure Letter, during the period from the date of this Agreement until the Closing (or
such earlier date on which this Agreement is terminated pursuant to Section 9.01), unless the Purchaser otherwise consents
in writing (such consent not to be unreasonably withheld, delayed or conditioned), the Seller Parties shall not, and shall not permit
the Selling Entities, and member of the Seller Group, or any of the Transferred Entities to (in each case, solely to the extent related
to the Business, the Transferred Entities, the Business Employees, the Purchased Assets and the Assumed Liabilities):

 

(i)                agree
to issue, sell, grant, deliver, pledge, transfer, encumber or subject to any Lien (other than transfer restrictions under applicable
securities Laws or under the organizational documents of the Transferred Entities) any Transferred Interests or grant any option, warrant
or right to acquire any Transferred Interests or other equity securities of any Transferred Entity or issue any security convertible
into or exchangeable for such securities;

 

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(ii)               sell,
lease, transfer, assign, abandon, cancel, mortgage, pledge, place a Lien upon (other than a Permitted Lien) or otherwise dispose of any
material Purchased Asset (other than Intellectual Property, which is addressed in clause (xi) below), including any Transferred
Real Property, other than the sale of obsolete, worn-out or excess equipment or assets in the ordinary course of business or sales of
vehicles, Supplies and other inventory, goods or services in the ordinary course of business or pursuant to Contracts in existence as
of the date of this Agreement or, if required pursuant to the terms of any Contract;

 

(iii)
             (A) merge or consolidate any Transferred
Entity with any Person, (B) acquire any Dealerships or (C) acquire other material assets (other than vehicles, Supplies, inventory,
machinery or equipment) that would constitute Purchased Assets outside the ordinary course of business, except in the case of clause
(C), pursuant to Contracts in existence as of the date of this Agreement;

 

(iv)             (A) adopt,
extend, amend, enter into or terminate any Seller Benefit Plan or Collective Bargaining Agreement with respect to any Business Employee,
(B) increase the compensation or benefits of any Business Employee, (C) terminate
the employment of any Business Employee (other than any termination for cause), (D) hire any individual who would be a Business
Employee (other than as necessary to replace a Business Employee whose employment has terminated as permitted herein and, in case, consistent
with past practice), or (E) take any action to accelerate the vesting or payment of any compensation or benefits for any Business
Employee, except, with respect to each of (A)-(E), (1) as required by any applicable Law, or any Seller Benefit Plan,
any employment agreement or any Collective Bargaining Agreement in each case in effect as of the date hereof, (2) in the ordinary
course of business, (3) as contemplated in Section 7.06 of this Agreement, and (4) arrangements that will not result
in any Liability under this Agreement or otherwise to the Purchaser or any of its Affiliates;

 

(v)              make
any material changes in financial accounting methods, principles or practices other than as may be required by GAAP (or any interpretation
thereof) or by any applicable Law;

 

(vi)             amend
the organizational documents of any Selling Entity or Transferred Entity or convert any Transferred Entity into a different form of entity;

 

(vii)            enter
into any settlement or release with respect to any material Action relating to the Business that is, in whole or in part, an Assumed
Liability other than (A) any settlement or release that contemplates only the payment of money (prior to Closing) without any material
ongoing limits on the conduct or operation of the Business and results in a release of the claims giving rise to such Action, or (B) to
the extent such Action and any associated Liabilities are Excluded Liabilities;

 

(viii)            knowingly
waive any material claims or rights of material value that constitute Purchased Assets other than waivers granted in the ordinary course
of business;

 

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(ix)              (A) change
or revoke any material Tax election or Tax accounting method or make any new material Tax election or adopt any new Tax accounting method
(including, for the avoidance of doubt, any election with respect to the tax classification of the Transferred Entities for U.S. federal
(and applicable state and local) income tax purposes), (B) settle or compromise any Tax Action, (C) consent to an extension
or waiver of the limitation period applicable to any Tax claim or assessment or Tax Action, or (D) take any other action that would
have the effect of increasing the Tax liability of the Purchaser or any Transferred Entity;

 

(x)               liquidate,
dissolve, recapitalize, reorganize or otherwise wind up the business or operations of, or fail to maintain the existence of, any Selling
Entity or Transferred Entity;

 

(xi)              transfer,
assign, grant any license or sublicense, abandon, permit to lapse, or otherwise dispose of any material rights under or with respect
to any Transferred Intellectual Property other than (i) non-exclusive licenses granted in the ordinary course of business and (ii) abandonment,
lapse or disposal in the ordinary course of business pursuant to their business judgment;

 

(xii)             incur
any Indebtedness or impose or suffer to be imposed any Lien on any of the Business or any Purchased Asset, other than Permitted Liens
and any such indebtedness or Liens to be satisfied or released as of Closing;

 

(xiii)            enter
into any new binding commitment for capital expenditures of any Seller Group member for the Business (excluding any ordinary course replacements
of obsolete or worn out items) in excess of $500,000 per project;

 

(xiv)            enter
into any new Contract that would constitute a Material Business Contract, Transferred Real Property Lease, or Third Party Lease if entered
into prior to the date of this Agreement, or amend or voluntarily terminate any Material Business Contract, Transferred Real Property
Lease, or Third Party Lease in effect on the date of this Agreement, except (1) for any Material Business Contract (other than a
Manufacturer Agreement) that is an Excluded Contract or (2) for automatic renewals in accordance with the terms of any Material
Business Contract, Transferred Real Property Lease, or Third Party Lease;

 

(xv)            sell,
enter into an agreement to sell, or dealer trade any New Vehicle that has been in stock for 60 days or less with a Manufacturer Suggested
Retail Price as stated on the Monroney label of at least $100,000 for an amount less than 95% of such price, or sell any Used Vehicle
that has been in stock for 60 days or less for less than 85% of the current retail price found in Manheim Market Report;

 

(xvi)            sell
pursuant to any employee purchase program any vehicle in a manner inconsistent with the policy for new and used car employee purchases
as in effect on the date 60 days prior to the date hereof; or

 

(xvii)
         commit or agree in writing to take any of, the foregoing actions.

 

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(c)            Notwithstanding
any provision in this Agreement to the contrary, any action taken, or omitted to be taken, by the Selling Entities or Transferred Entities
that (i) the Selling Entities or Transferred Entities reasonably believes in good faith is necessary or appropriate to comply with
any COVID-19 Measure or (ii) is substantially consistent with the policies of the Seller Group in connection with COVID-19 or in
response to COVID-19 Measures and is taken, or omitted to be taken, in good faith will, in all cases, be deemed, without further action
and without consent of the Purchaser, to comply with the covenants and agreements of the Seller Parties contained in this Section 6.01;
provided that, to the extent any such action (or omission) would reasonably be expected to materially adversely impact the Purchaser
or its Affiliates following the Closing, then, to the extent practicable, the Seller Parties shall, or shall cause any applicable Selling
Entity or Transferred Entity to, prior to taking, or omitting to take, any such action, notify the Purchaser of such action (or omission)
and consider in good faith any suggestions of the Purchaser with respect to such action (or failure to act).

 

(d)            The
Purchaser acknowledges and agrees this Section 6.01 shall not prohibit, limit or restrict (i) the transfer of Excluded
Assets and Excluded Liabilities prior to, at or after the Closing, in each case to an Affiliate of the Seller Parties that is not a Transferred
Entity in accordance with this Agreement, (ii) prior to the time of calculation of Closing Cash in accordance with the definition
of Closing Cash, any Transferred Entity distributing Cash to an Affiliate of the Seller Parties, (iii) prior to the Closing, the
repayment of Indebtedness and the extinguishment of Liens and (iv) the settlement, capitalization or cancellation of any intercompany
Indebtedness or Contracts and other agreements that will not constitute Transferred Contracts. For the avoidance of doubt, nothing contained
in this Agreement is intended to give the Purchaser, directly or indirectly, the right to control or direct the Seller Group’s
business, including, prior to the Closing, the Business. Prior to the Closing, the Seller Group shall exercise, consistent with the terms
and conditions of this Agreement, complete control and supervision over its businesses and operations.

 

ARTICLE VII

 

Additional
Covenants of the Parties

 

SECTION 7.01.     Efforts.

 

(a)            Subject
to the terms and conditions of this Agreement, the Purchaser and the Seller Parties shall, and each shall cause their respective controlled
Affiliates to, use their respective commercially reasonable efforts (unless, with respect to any action, another standard of performance
is expressly provided for herein) to promptly take, or cause to be taken, all actions, and do, or cause to be done, and assist and cooperate
with the other parties in doing, all things necessary, proper or advisable to cause the conditions to the Closing to be satisfied and
to consummate and make effective the Transactions, in each case as promptly as reasonably practicable, including (i) preparing and
filing promptly and fully all documentation to effect all necessary filings, notices, petitions, statements, registrations, submissions
of information, applications and other documents, (ii) obtaining all Consents from any Governmental Authority or third party necessary,
proper or advisable to consummate the Transactions, including, without limitation, all Conforming Estoppels, SNDAs, and Transferred Real
Property Lease Consents, provided, in connection with any third party Consent and except as expressly set forth in this Agreement, that
no member of the Seller Group shall be required to (1) pay any consideration to or out of pocket costs of or to the third
party therefor, (2) commence, defend or participate in any Action in connection therewith or (3) offer or grant any accommodation
(financial or otherwise) to any third party in connection therewith, (iii) executing and delivering any additional instruments necessary
to consummate the Transactions and (iv) defending or contesting in good faith any Action brought by a third party that could otherwise
prevent or impede, interfere with, hinder or delay in any material respect the consummation of the Transactions, in the case of each
of clauses (i) through (iv), other than with respect to filings, notices, petitions, statements, registrations, submissions of information,
applications and other Consents relating to (A) Antitrust Laws, which are dealt with in Section 7.01(b) and (B) Purchased
Assets, Manufacturer Consents or Transferred Interests, which are dealt with in Section 2.04.

 

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(b)            Each
of the parties hereto agrees to (i) make an appropriate filing of a Notification and Report Form pursuant to the HSR Act with
respect to the Transactions within ten (10) business days following the date hereof (unless the parties otherwise agree) and any
required notification under any other Antitrust Laws as promptly as reasonably practicable following the date of this Agreement, and
(ii) supply as promptly as reasonably practicable any additional information and documentary material that may be requested pursuant
to the HSR Act and such other Antitrust Laws and to use their respective commercially reasonable efforts to promptly take any and all
steps necessary to avoid or eliminate each and every impediment and obtain all Consents under any Antitrust Laws that may be required
by any foreign or U.S. federal, state or local Governmental Authority, in each case with competent jurisdiction so as to enable the parties
hereto to consummate the Transactions as promptly as reasonably practicable. Notwithstanding anything to the contrary in this Section 7.01,
the Purchaser shall promptly take, or cause to be taken, any and all actions necessary to secure the expiration or termination of any
applicable waiting period under the HSR Act (“HSR Approval”) or any other Antitrust Law or any other Consent under
Antitrust Laws, and resolve any objections asserted with respect to the Transactions under the Federal Trade Commission Act or any other
applicable Law raised by any Governmental Authority, in order to prevent the entry of, or to have vacated, lifted, reversed or overturned,
any Restraint that would prevent, prohibit or restrict the consummation of the Transactions or delay the consummation of the Transactions
beyond the Termination Date, including (i) (A) executing settlements, undertakings, consent decrees, stipulations or other
agreements with any Governmental Authority or with any other Person, (B) selling, divesting or otherwise conveying or holding separate
particular assets or categories of assets or businesses of the Purchaser or any of its Affiliates (including, after the Closing, any
Transferred Entities and Purchased Assets), (C) agreeing to sell, divest
or otherwise convey or hold separate any particular assets or categories of assets or businesses of the Purchaser or any of its Affiliates
(including, after the Closing, any Transferred Entities and Purchased Assets), (D) terminating existing relationships, contractual
rights or obligations of the Purchaser or any of its Affiliates (including, after the Closing, the Transferred Entities), (E) terminating
any joint venture or other arrangement, (F) creating any relationship, contractual right or obligation of the Purchaser or any of
its Affiliates (including, after the Closing, the Transferred Entities) or (G) effectuating any other change or restructuring of
the Purchaser or any of its Affiliates (including, after the Closing Date, the Transferred Entities) (and, in each case, entering into
agreements or stipulating to the entry of any Judgment by, or filing appropriate applications with, the Federal Trade Commission (the
 “FTC”), the Antitrust Division of the Department of Justice (the “DOJ”) or any other Governmental
Authority in connection with any of the foregoing and, in the case of actions by or with respect to the Seller Parties, by consenting
to such action by the Seller Parties (including any Consents required under this Agreement or the other Transaction Documents with respect
to such action); provided that any such action may be conditioned upon the Closing) and (ii) defending through litigation
any claim asserted in court or administrative or other tribunal by any Person (including any Governmental Authority) in order to avoid
entry of, or to have vacated or terminated, any Restraint that would or would reasonably be expected to prevent the Closing from occurring
prior to the Termination Date. No actions taken pursuant to this Section 7.01 shall be considered for purposes of determining
whether a Material Adverse Effect has occurred or would reasonably be expected to occur.

 

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(c)            Each
of the parties hereto shall use its reasonable best efforts to (i) cooperate in all respects with each other in connection with
any filing, submission or written communication with a Governmental Authority in connection with the Transactions and in connection with
any investigation or other inquiry by or before a Governmental Authority relating to the Transactions, and allow the other parties to
review in advance and consider in good faith the views of the other parties with respect to such filing, submission, or written communication,
(ii) keep the other parties hereto informed in all material respects and on a reasonably timely basis of any material communication
received by such party from, or given by such party to, the FTC, the DOJ or any other Governmental Authority in each case regarding any
of the Transactions, (iii) subject to applicable Laws relating to the exchange of information, and to the extent reasonably practicable,
consult with the other parties hereto with respect to information relating to the other parties hereto and their respective Subsidiaries,
as the case may be, that appears in any filing made with, or written materials submitted to, any third Person or any Governmental Authority
in connection with the Transactions, other than “4(c) documents” as that term is used in the rules and regulations
under the HSR Act, and (iv) to the extent permitted by the FTC, the DOJ or such other applicable Governmental Authority or other
Person, give the other parties hereto prompt notice of, and the reasonable opportunity to attend and participate in, such meetings and
conferences.

 

(d)            Notwithstanding
anything to the contrary in this Agreement, the Seller Parties and their respective Affiliates shall have no obligation to pay money
or offer or make any concession or grant any accommodation (financial or otherwise) to any Governmental Authority or other third party
in connection with the performance of their respective obligations under this Section 7.01.

 

SECTION 7.02. Public
Announcements. The parties hereto agree that the initial press release to be issued with respect to the Transactions following execution
of this Agreement shall be in the form heretofore agreed to by the parties hereto (the “Announcement”). The Purchaser
and the Seller Parties shall consult with each other before issuing, and give each other the opportunity to review and comment upon,
any other press release or other public statements with respect to the Transactions, and shall not issue any such press release or make
any such public statement without the prior consent of the other party following such consultation; provided that in the event
that such press release or other public statement shall be required by applicable Law, Judgment, court process or the applicable rules and
regulations of any national securities exchange or national securities quotation system, then the disclosing party shall be required
to consult with the other party and, to the extent practicable, give such other party a reasonable opportunity to review and comment
on such public statement prior to its release to the extent permitted by Law. Notwithstanding the forgoing, this Section 7.02
shall not apply to any press release or other public statement made by any party hereto which is consistent with the Announcement
and the terms of this Agreement and does not contain any information relating to the Transactions that has not been previously announced
or made public in accordance with the terms of this Agreement.

 

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SECTION 7.03.     Access
to Information; Confidentiality; Property Inspection Period.

 

(a)            Subject
to applicable Law and any applicable Judgment, between the date and after the time) of public announcement of the execution of this Agreement
and the earlier of the Closing and the termination of this Agreement pursuant to Section 9.01, upon reasonable notice, the
Seller Parties shall, and shall cause the other members of the Seller Group to, afford to the Purchaser and its Representatives reasonable
access during normal business hours to the Dealerships (including, without limitation, the Transferred Real Property) (upon prior reasonable
advance written notice to the Seller Parties) and the Records included in the Purchased Assets (other than with respect to Records to
the extent relating to the negotiation and execution of this Agreement or any other Transaction Document or any proposals from other
parties relating to any competing or alternative transactions), and the Seller Parties shall, and shall cause the other members of the
Seller Group to, furnish to the Purchaser and its Representatives such information relating primarily to the Business as the Purchaser
may reasonably request, in each case for the primary purposes of transition and integration planning (other than any Records covered
by Section 2.02(b)(vii)); provided that the Purchaser and its Representatives shall conduct any such activities in
such a manner as not to interfere in any material respect with the conduct of the Business and the Retained Businesses; provided further
that no member of the Seller Group shall be obligated to provide such access or information if the Seller Parties determine, in their
reasonable judgment, that doing so could (i) violate or prejudice the rights of its customers or other key business parties, (ii) result
in the disclosure of trade secrets or competitively sensitive or classified information to third parties, (iii) violate applicable
Law, an applicable Judgment or a Contract or obligation of confidentiality owing to a third party, (iv) jeopardize the protection
of an attorney-client privilege, attorney work product protection or other legal privilege, (v) be adverse to the interests of a
member of the Seller Group in any pending or threatened Action, (vi) expose a member of the Seller Group to risk of Liability for
disclosure of sensitive or personal information or (vii) reasonably be prohibited by or inadvisable due to COVID-19 or any COVID-19
Measures. All requests for information made pursuant to this Section 7.03 shall be directed to the executive officer or other
Person designated by the Seller Parties. Except to the extent permitted pursuant to Section 7.03(b), this Section 7.03
shall not entitle the Purchaser or its Representatives to undertake any invasive or intrusive testing or sampling of environmental
media or building materials (including Phase II Activities) without the Seller Parties’ prior written consent, which such consent
will not be unreasonably delayed or denied.

 

(b)            Commencing
on the date hereof and ending at 5:00 PM Eastern Time on the date that is 75 days from the date hereof (“Property Review Period”),
the Purchaser and its authorized Representatives will be provided reasonable access during normal business hours to the Transferred Real
Property upon prior reasonable advance written notice to the Seller Parties to conduct an Environmental Assessment of the Transferred
Real Property, which shall expressly include, without limitation, access by licensed surveyors engaged by the Purchaser for purposes
of preparing ALTA/NSPS surveys thereof, which surveys shall be expressly permitted; provided, that the Seller Parties shall have
the option to have a Representative present during any such inspection. Upon reasonable written request of Seller, the Purchaser will
provide to the Seller Parties copies of all third party-prepared Phase I and Phase II final reports obtained by the Purchaser as the
result of the Purchaser’s Environmental Assessment of the Transferred Real Property and any appraisals of the Transferred Real
Property. The Seller Parties acknowledge that Partner Engineering and Science, Inc. (“Purchaser Consultant”)
is an acceptable environmental consultant for purposes of the Purchaser’s performance of Environmental Assessment activities at
any Transferred Real Property. Upon the Purchaser’s or Purchaser Consultant’s review of the Records or its materials resulting
from performance of some or all of the Environmental Assessments, if the Purchaser elects to have Purchaser Consultant to perform Phase
II Activities, then it will provide reasonable advance notice of the Transferred Real Property(ies) and planned scope of Phase II Activities
at each such Transferred Real Property to the Seller Parties and the Seller Parties shall have the option to have a Representative present
during any such activity.

 

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(c)            In
the event that Purchaser identifies any event, circumstance or condition that, in its reasonable opinion, constitutes a Material Environmental
Defect relating to any of the Transferred Real Property, then prior to the expiration of the Property Review Period, the Purchaser may
provide the Seller Parties with a written objection notice (the “Environmental Defect Notice”) setting forth in reasonable
detail the Material Environmental Defect and the reasonable estimated costs to cure each such Material Environmental Defect, together
with a copy of the applicable report(s) or other supporting documentation upon which such determination is based. Upon receipt thereof,
the Seller Parties, must elect, within twenty (20) days, by written notice to the Purchaser (the “Seller Parties’ Election”)
for (i) the Seller Parties’ remediation of the Material Environmental Defect disclosed by such report(s) by the Seller
Parties, at the Seller Parties’ sole cost (and to the extent any such remediation is not completed by the Closing, the Purchaser
shall provide reasonable access during normal business hours thereto for such purpose; provided, however, that the Seller Parties shall
not unreasonably interfere with Purchaser’s business operations and shall comply with Environmental Law and Purchaser’s applicable
safety requirements that are provided to the Seller Parties in writing prior to the conduct of remediation), (ii)
funding an escrow account, accessible to the Purchaser to be used solely for the Purchaser’s remediation of the Material
Environmental Defect, with an amount equal to 125% of the reasonable estimated costs provided in the Environmental Defect Notice (the
 “Escrow Option”), or (iii) reducing the Closing Purchase Price by an amount equal to 125% of the reasonable estimated
costs provided in the Environmental Defect Notice (the “Price Reduction Option”); provided further that the
dispute resolution procedures set forth in Section 7.03(g) shall apply to any disputes regarding the existence of a
Material Environmental Defect or the estimated costs to remedy it.

 

(d)            In
the event that the Closing will occur prior to the deadline for the Seller Parties’ Election or the completion of the dispute resolution
process for Material Environmental Defects, then the following will apply: (i) within 14 days of the Closing Date, the Purchaser
will notify the Seller Parties of all Material Environmental Defects and the Purchaser’s good faith estimate of the costs to remedy
each one; (ii) the Purchaser and the Seller Parties shall work in good faith to agree to on the estimated costs to remedy the Material
Environmental Defects and 125% of that agreed amount shall be held in an environmental escrow account (the “Preliminary Environmental
Holdback”); and (iii) the Preliminary Environmental Holdback will be adjusted after Seller has submitted the Seller Parties’
Election and any dispute resolution processes for the Material Environmental Defect based upon either the parties’ agreed updated
costs to remedy the Material Environmental Defect (if there are no disputes) or the decision of the Environmental Consultant.

 

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(e)            In
the event that the Seller Parties select the Escrow Option, the following will apply: (i) the parties will enter into an escrow
agreement in a mutually agreed form; (ii) the Transferred Real Property shall be included in the Purchased Assets; and (iii) the
Purchaser shall be solely responsible for remediating the Material Environmental Defect and the Seller Group shall have no liability
whatsoever to the Purchaser or any of its Affiliates for such Material Environmental Defect (including but not limited to, liability
under Article X hereof).

 

(f)            In
the event that the Seller Parties select the Price Reduction Option: (i) the parties shall reduce the Closing Purchase Price by
the parties’ agreed upon Material Environmental Defect Estimated Cost (with or without undergoing dispute resolution procedures
set forth in Section 7.03(g)) for the Transferred Real Property at issue; (ii) such Transferred Real Property shall
be included in the Purchased Assets; and (iii) the Purchaser shall be solely responsible for remediating the Material Environmental
Defect and the Seller Group shall have no liability whatsoever to the Purchaser or any of its Affiliates for such Material Environmental
Defect (including but not limited to, liability under Article X hereof).

 

(g)            Dispute
Resolution Procedures for Material Environmental Defects. Seller Parties and the Purchaser shall attempt to agree on the existence
of a Material Environmental Defect and the costs to remedy it. If Seller Parties and the Purchaser are unable to agree on any of the
above (collectively or individually, as applicable, the “Disputed Environmental Matters”) prior to the date the Seller
Parties’ Election is due, then Disputed Environmental Matters shall be exclusively and finally resolved by expert determination
to be conducted pursuant to this Section 7.03(g). During the ten (10) day period following the date the Seller Parties’
Election is due, all Disputed Environmental Matters shall be submitted to an environmental consultant with at least ten (10) years’
experience in environmental site assessments and remediation matters as selected by: (i) mutual agreement of the Purchaser and Seller;
or (ii) absent such agreement during the ten (10) day period, by the Houston, Texas office of the American Arbitration Association
(the “Environmental Consultant”). The Environmental Consultant shall not have been employed by any party within the
five (5) year period preceding the arbitration. The Environmental Consultant, once appointed, shall have no ex parte communications
with any of the parties concerning the determination required hereunder. All communications between any party and the Environmental Consultant
shall be conducted in writing, with copies sent simultaneously to the other party in the same manner, or at a meeting or conference call
to which the representatives of both the Seller Parties and the Purchaser have been invited and of which such parties have been provided
at least five (5) days’ notice. Within twenty (20) days of appointment of the Environmental Consultant, each of the Seller
Parties and the Purchaser shall present the Environmental Consultant with a written statement of its position on the Disputed Environmental
Matters, including a written statement of its position with respect to any disputes regarding the existence of any properly and timely
asserted Material Environmental Defect and the costs to remedy it. The Environmental Consultant shall also be provided with a copy of
this Agreement. Within forty-five (45) days after receipt of such materials and after receipt of any additional information required
by the Environmental Consultant, the Environmental Consultant shall make its determination, which shall be final and binding upon all
parties, without right of appeal. In making its determination, the Environmental Consultant shall be bound by the rules set forth
in this Section 7.03(g). In no event shall the Environmental Consultant select an amount lower than the amount proposed by
Seller Parties nor higher than the amount proposed by the Purchaser, as applicable. The Environmental Consultant shall act as an expert
for the limited purpose of determining the existence of any timely and properly asserted Material Environmental Defect and the costs
to remedy it. The Environmental Consultant may not award damages, interest or penalties to any party with respect to any matter. The
Seller Parties and the Purchaser shall each bear its own legal fees and other costs of presenting its case. The Seller Parties shall
bear one-half (1/2) and the Purchaser shall bear one-half (1/2) of the costs and expenses of the Environmental Consultant. In the event
that the Environmental Consultant determines that the costs to remedy any Material Environmental Defect are less than the Material Environmental
Defect Estimated Costs, then the parties shall, within five (5) days of the determination and in accordance with the escrow agreement,
direct the escrow agent to pay the difference in the Material Environmental Defect Estimated Costs and the amount determined by the Environmental
Consultant to the Seller Parties. In the event that the Environmental Consultant determines that there is no Material Environmental Defect,
then the parties shall, within five (5) days of the determination and in accordance with the escrow agreement, direct the escrow
agent to pay the full Material Environmental Defect Estimated Costs for such alleged Material Environmental Defect to the Seller Parties.

 

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(h)            All
Environmental Assessment inspections and any appraisals conducted by or on behalf of the Purchaser pursuant to this Section 7.03
shall be done at the sole cost and expense of the Purchaser and shall be subject to such conditions as the Seller Parties may reasonably
impose (including as set forth in Section 7.03(a)) in order not to unreasonably interfere in any material respect with the
conduct of the Business and the Retained Businesses. The Purchaser shall restore the Transferred Real Properties to their approximate
same condition immediately following any such inspection. The Purchaser and its Representatives shall perform services in compliance
with applicable Law and at their own risk and peril. Prior to entering into any Transferred Real Property, the Purchaser will provide
proof of its liability and workers’ compensation insurance policies, and such policies will be deemed reasonably acceptable to
the Seller Parties if liability limits of such policies are at least $1,000,000 per occurrence and $1,000,000 in vehicle liability coverage,
and workers’ compensation policies satisfy state insuring limits. The Purchaser hereby agrees to indemnify and hold each Seller
Indemnitee harmless from any Loss or Liability resulting from (i) (A)
bodily injury or death; or (B) physical damages to the property arising from any inspection (including any Environmental
Assessment) of the Transferred Real Properties by the Purchaser or any of its Representatives or (ii) the breach of any lease agreements
as a result of performing any Phase II Activities; provided, however, the Purchaser shall have no obligation to indemnify or hold any
Seller Indemnitee harmless from any such Losses or Liabilities: (i) for discovery of Hazardous Material or other Liability conditions
or violations under Environmental Law that existed prior to the Purchaser’s Environmental Assessment; or (ii) arising from
the negligent actions of the Seller Parties.

 

(i)             Until
the Closing (or, solely with respect to any Delayed Closing Purchased Assets, the applicable Delayed Closing), all information provided
by the Seller Parties pursuant to this Section 7.03 will be subject to the terms of the letter agreement dated as of June 4,
2021 by and between Highline and the Purchaser (the “Confidentiality Agreement”). Effective upon, and only upon, the
Closing (or, solely with respect to any Delayed Closing Purchased Assets, the applicable Delayed Closing), the confidentiality provisions
of the Confidentiality Agreement shall terminate with respect to information relating solely to the Business; provided that the
Purchaser acknowledges that all of its other obligations under the Confidentiality Agreement, including its obligations of confidentiality
and non-disclosure with respect to any and all other information provided to it by or on behalf of the Seller Parties, their Affiliates
or any of their respective Representatives concerning the Retained Businesses, the Seller Parties, their Affiliates or any of their respective
Representatives (other than solely with respect to the Business, the Transferred Entities) shall continue to remain subject to the terms
and conditions of the Confidentiality Agreement, any termination of the Confidentiality Agreement that has occurred or would otherwise
occur notwithstanding.

 

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SECTION 7.04. Bulk
Sale. The Purchaser hereby waives compliance by the Seller Parties and any other member of the Seller Group with the provisions of
any so called “bulk transfer laws” or similar Laws of any jurisdiction in connection with the Transactions.

 

SECTION 7.05. Insurance.
As of the Closing (or, solely with respect to any Delayed Closing Purchased Assets, the applicable Delayed Closing), the Business, the
Transferred Entities, the Purchased Assets and the Assumed Liabilities shall cease to be insured by the insurance policies of the Seller
Parties or any of their Affiliates or by any of their respective self- insurance programs or policies, except solely to the extent provided
in this Section 7.05. After the Closing (or, solely with respect to any Delayed Closing Purchased Assets, the applicable
Delayed Closing) (but subject in any event to Section 10.09(b)), with respect to events related to the Business that occurred
or existed prior to the Closing (or, solely with respect to any Delayed Closing Purchased Assets, the applicable Delayed Closing) and
that are covered by the Seller Group’s occurrence-based third-party liability insurance policies that are as of such time in effect,
as reasonably requested in writing by the Purchaser, the Seller Group shall provide reasonable cooperation to the Purchaser to file claims
on behalf of the Purchaser under such policies to the extent such coverage and limits are then available under such policies; provided
that Purchaser shall (a) promptly reimburse the Seller Group for (or the Seller Group may, at its option, deduct from any proceeds
of such policy) any out-of-pocket costs or expenses incurred in connection with making such claims and any increased costs incurred by
the Seller Group associated with claims made under such policies or programs and (b) exclusively bear (and the Seller Group shall
have no obligation to repay or reimburse the Purchaser for) the amount of any deductibles associated with claims made and paid under
such policies and programs. This Section 7.05 shall not require the Seller Group to convert any “claims made”
policy to an “occurrence based” policy and shall not obligate the Seller Group to maintain any insurance policy in effect
after the Closing (or, solely with respect to any Delayed Closing Purchased Assets, the applicable Delayed Closing). The Purchaser shall
cooperate with the Seller Group in connection with making any such claims, and shall provide the Seller Group with all reasonably requested
information necessary to make any such claims. The Purchaser acknowledges and agrees that it is the Purchaser’s sole responsibility
to arrange for its own insurance policies or self-insurance programs with respect to the Business, the Transferred Entities, the Purchased
Assets and the Assumed Liabilities covering the period following the Closing (or, solely with respect to any Delayed Closing Purchased
Assets, the applicable Delayed Closing).

 

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SECTION 7.06.     Employee
Matters.

 

(a)            Census
Information. To the extent permitted by applicable Law and as soon as reasonably practicable after the date of this Agreement, the
Seller Parties shall supplement Section 1.01(a) of the Disclosure Letter to add each Business Employee’s name,
date of hire, position, base salary or hourly wage rate (as applicable), bonus opportunity range and target bonus, as applicable, employing
entity, location of employment, leave status (including anticipated return date), and whether he or she is represented by a labor union
or other collective bargaining representative or employed pursuant to the terms of a Collective Bargaining Agreement (and, if so, which
union or representative and which agreement). The Seller Parties shall update such information periodically prior to the Closing Date
or the applicable Delayed Closing Date, as applicable, as reasonably requested in writing by the Purchaser.

 

(b)            Offers
of Employment. Not less than ten (10) business days prior to the Closing, the Purchaser or one of its Affiliates shall offer
employment, effective as of the Closing Date or the applicable Delayed Closing Date, as applicable, to each Business Employee in accordance
with this Agreement; provided, however, the Purchaser or its Affiliate shall have the discretion (and shall not be required)
to make offers of employment to those Business Employees in executive positions who are set forth on Section 7.06(b) of the
Disclosure Letter (such Business Employees, the “Executive Employees”); provided further that the Purchaser
or its Affiliate shall make offers of employment consistent with this Section 7.06(b) to those Executive Employees who
the Purchaser or its Affiliate determine will receive offers of employment, if any, within fourteen (14) days following the date of this
Agreement. If a Delayed Closing occurs, the offer of employment for such Delayed Business Employee shall be effective (x) as of
the applicable Delayed Closing Date of such Dealership at which the Delayed Business Employee is primarily located or (y) as of
a date that the parties reasonably agree upon, but which shall in no event be a later time than the last Delayed Closing or, if applicable,
the closing of the last third party sale transaction with respect to a Delayed Closing Dealership. Offers pursuant to this Section 7.06(b) shall
(i) be for a comparable position at the same or a nearby geographic work location, but no further than ten (10) miles from
the Business Employee’s current work location, in each case, to those as of the Closing Date or the applicable Delayed Closing
Date, as applicable, (ii) have terms and conditions consistent with Section 7.06(c) and (iii) otherwise comply
in all respects with applicable Law (including with respect to compensation and benefits); provided, however, that the
terms and conditions of employment for any Business Employee employed pursuant to the terms of a Collective Bargaining Agreement shall
be on terms consistent with those set forth in the applicable Collective Bargaining Agreement. Offers pursuant to this Section 7.06(b) may
be subject to the condition that such Business Employee satisfies the standard employee qualifications and hiring process of the Purchaser
or its applicable Affiliate; provided that the Purchaser or such Affiliate provides offers to, and begins the hiring process for, each
Business Employee with sufficient time prior to the Closing or Delayed Closing, as applicable, to complete such hiring process to its
satisfaction. With respect to any Business Employee who, as of the Closing Date or the applicable Delayed Closing Date, as applicable,
is on long-term disability or short-term disability leave (each, an “Inactive Employee”), the Purchaser or its Affiliate
shall offer employment to such individual on the earliest practicable date following the return of such individual to work with the Seller
Parties and their Affiliates and otherwise on terms and conditions consistent with this Section 7.06; provided that
such employee returns to work within 90 days following the Closing Date or the applicable Delayed Closing Date, as applicable. The Seller
Parties shall promptly notify the Purchaser of the occurrence and end of any such leave of absence. In the case of any Inactive Employee
who becomes a Transferred Employee on or after the day following the Closing Date or the applicable Delayed Closing Date, as applicable,
all references in this Agreement to the “Closing” and the “Closing Date” or to the “Delayed Closing”
and the “Delayed Closing Date,” as applicable (other than in this Section 7.06(b) and Section 7.06(f))
shall be deemed to be references to the time and date on which such individual becomes a Transferred Employee.

 

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(c)            Compensation
and Employee Benefits.

 

(i)                Compensation
and Benefits Comparability. With respect to Transferred Employees, for the period commencing immediately following the Closing and
ending on the date that is twelve (12) months following the Closing or the Delayed Closing, as applicable (the “Continuation
Period”), the Purchaser shall, or shall cause its Affiliates to, provide to each Transferred Employee solely during the period
of his or her employment with the Purchaser and its Affiliates (and, with respect to any compensation or benefits that apply following
a termination of employment, the applicable period thereafter) (A) base salary or base hourly wage rates that are no less favorable
than those in effect for each such Transferred Employee immediately prior to the Closing or the applicable Delayed Closing, as applicable,
(B) target annual cash bonus opportunities or bonus opportunity ranges, as applicable, that are no less favorable than those in
effect for each such Transferred Employee immediately prior to the Closing or the applicable Delayed Closing, as applicable, and (C) other
compensation and benefits (including retirement benefits, but excluding any defined benefit pension plans) that, in the aggregate, are
substantially comparable to those in effect for similarly situated employees of the Purchaser or its applicable Affiliate. With respect
to terminations that occur during the Continuation Period, the Purchaser shall or shall cause its Affiliate to provide to each Transferred
Employee severance benefits that are substantially comparable to those that would have been provided to each such Transferred Employee
in connection with an involuntary termination of employment by the Purchaser or one of its Affiliates under the terms of Seller Benefit
Plans as in existence on the date of this Agreement, as applicable (excluding, for the avoidance of doubt, any severance benefits under
the Automile Holdings, LLC Transaction Bonus Plan, as amended, and any employment agreement set forth in Section 4.12(f) of
the Disclosure Letter); provided, however, that any such severance benefits shall be subject to the applicable Transferred
Employee’s timely execution and return of a release of claims in a form reasonably acceptable to the Purchaser or its Affiliate.
Notwithstanding the foregoing, with respect to Transferred Employees covered by any Collective Bargaining Agreement, effective from and
after the Closing Date or the applicable Delayed Closing Date, as applicable, the Purchaser or its applicable Affiliate shall comply
with applicable Law concerning such Collective Bargaining Agreement and the Purchaser’s or its applicable Affiliate’s obligations
with respect to the compensation, benefits, and other terms of employment applicable to Transferred Employees covered by any Collective
Bargaining Agreement shall be as set forth in the applicable Collective Bargaining Agreement or as otherwise determined pursuant to the
applicable collective bargaining relationship. Notwithstanding the foregoing, this Section 7.06(c)(i) shall not apply to Executive
Employees and to the extent that any offers are made to Executive Employees, the terms of their compensation and benefits shall be governed
by the provisions of offer letters or other individual agreements.

 

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(ii)              Service
Credit. With respect to Transferred Employees, from and after the Closing Date or the applicable Delayed Closing Date, as applicable,
the Purchaser shall, or shall cause its Affiliates to, provide credit (without duplication) to each Transferred Employee for his or her
service recognized by the Seller Parties and their Affiliates and their respective predecessors before the Closing Date or the applicable
Delayed Closing Date, as applicable, for purposes of eligibility, vesting, continuous service, determination of service awards, vacation,
paid time off, early retirement and severance entitlements to the same extent and for the same purposes as such service was credited
under any similar Seller Benefit Plan in which such Transferred Employee participated or was eligible to participate immediately prior
to the Closing Date or the applicable Delayed Closing Date, as applicable, provided that such service shall not be recognized
(A) for purposes of benefit accrual under any defined benefit pension plan or retiree medical plan; and (B) to the extent that
such recognition would result in a duplication of benefits. The Purchaser shall, or shall cause its Affiliates to, take commercially
reasonable efforts to provide that no pre-existing conditions, exclusions or waiting periods shall apply to Transferred Employees under
the benefit plans providing medical, dental, prescription drug, vision, and/or other welfare benefits for those employees except to the
extent such condition or exclusion was applicable to an individual Transferred Employee prior to the Closing Date or the applicable Delayed
Closing Date, as applicable. With respect to the plan year during which the Closing or the applicable Delayed Closing, as applicable,
occurs, the Purchaser shall provide each Transferred Employee with credit for deductibles and out-of-pocket requirements paid prior to
the Closing Date or the applicable Delayed Closing Date, as applicable, in satisfying any applicable deductible or out-of-pocket requirements
under any employee benefit plan of the Purchaser or its Affiliates in which such Transferred Employee is eligible to participate following
the Closing Date or the applicable Delayed Closing Date, as applicable.

 

(d)            Transition
of Employment. The Seller Parties and the Purchaser intend that the Transactions should not constitute a layoff or severance-triggering
separation from employment of any Business Employee (other than those Executive Employees to whom the Purchaser or its Affiliate does
not make an offer of employment in accordance with Section 7.06(b)) prior to or upon the occurrence of the Closing Date or
the applicable Delayed Closing Date, as applicable, including for purposes of any Collective Bargaining Agreement. In furtherance of
the foregoing, each Business Employee (other than those Executive Employees to whom the Purchaser or its Affiliate does not make an offer
of employment in accordance with Section 7.06(b)) will be treated as resigning his or her employment with the Seller Parties
and their Affiliates as of the Closing or the applicable Delayed Closing Date, as applicable. Notwithstanding anything in this Agreement
to the contrary, the Purchaser or its Affiliates shall bear all the Liabilities relating to, and shall indemnify and hold harmless the
Seller Indemnitees from and against, (A) any claims made by any Business Employee (other than those Executive Employees to whom
the Purchaser does not make an offer of employment in accordance with Section 7.06(b)) for any legally mandated payment obligations
(including any compensation payable during a mandatory termination notice period and any payments pursuant to a Judgment of a court having
jurisdiction over the parties hereto) and for any other claim or Liability related to compensation or benefits, in each case, solely
to the extent directly or indirectly arising out of or in connection with the failure of the Purchaser or any of its Affiliates to make
an offer of employment to such Business Employee in accordance with this Agreement and (B) any claims relating to the employment
of any Transferred Employee after the Closing or the applicable Delayed Closing Date, as applicable, in each case that arise from such
Transferred Employee’s employment with Purchaser or its Affiliate, including in respect of any act or omission relating
to the employment of any Transferred Employee on or after the Closing or the applicable Delayed Closing Date, as applicable. Notwithstanding
the foregoing or anything to the contrary herein, except as may be mutually agreed by the parties in a Transaction Document, the Purchaser
and its Affiliates shall have no Liability (x) to or with respect to those Business Employees who do not accept the Purchaser’s
or its Affiliate’s offer of employment made in accordance with Section 7.06(b) or who fail to meet the Purchaser’s
or its Affiliate’s applicable pre-hiring requirements and (y) for severance under any Seller Benefit Plans to any Transferred
Employee who voluntarily terminates employment with the Purchaser or an Affiliate.

 

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(e)            Collective
Bargaining Agreements. Subject to Section 2.03(b)(iv), immediately following the Closing or the applicable Delayed Closing
Date, as applicable, so long as a majority of the Business Employees within the applicable bargaining unit become Transferred Employees,
the Purchaser shall or shall cause its applicable Affiliate to assume each Collective Bargaining Agreement and any and all Liabilities
thereunder arising and accruing with respect to the Transferred Employees subject to the applicable Collective Bargaining Agreement from
and after the Closing or the Delayed Closing Date, as applicable; provided, however, that for the avoidance of doubt, nothing in this
Section 7.06(e) shall be construed as requiring the Purchaser or any Affiliate to assume any Controlled Group Liability
under any Seller Benefit Plan.

 

(f)            WARN.
The Purchaser acknowledges and agrees that: (i) the Seller Parties shall not provide notice under the Worker Adjustment and Retraining
Notification Act of 1988, as amended and any similar state or local Law (the “WARN Act”) relating to employment losses
resulting from the Transaction; and (ii) the Purchaser shall bear any and all obligations and liability under the WARN Act resulting
from the failure of any of the Business Employees (including any Delayed Business Employees) who are not Executive Employees to receive
an offer of employment from the Purchaser or its Affiliate or the termination or constructive termination of employment of any of the
Business Employees by the Purchaser or its Affiliate following the Closing. Upon the Closing or the applicable Delayed Closing, as applicable,
the Seller Parties shall provide the Purchaser with a schedule that sets forth each “employment loss” (as defined in 20 C.F.R.
 § 639.3(f)) within the preceding 90 days at each site of employment associated with the Business.

 

(g)            Payroll
Reporting. In the United States, pursuant to IRS Revenue Procedure 2004-53, the Purchaser and the Seller Parties and their respective
Affiliates shall apply the “standard” method for purposes of employee payroll reporting with respect to any Business Employee.

 

(h)            Communications.
Prior to the Closing or the applicable Delayed Closing, as applicable, any employee notices or communication materials (including website
postings) from the Purchaser or its Affiliates to the Business Employees that are intended for dissemination to multiple Business Employees,
including notices or communication materials with respect to employment, compensation or benefits matters addressed in this Agreement
or related, directly or indirectly, to the transactions contemplated by this Agreement or employment thereafter, shall be disclosed in
advance to the Seller Parties to give the Seller Parties a reasonable period of time to review and comment on the communication.

 

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(i)            Cooperation.
Following the date hereof, including following the Closing and any Delayed Closing, as applicable, the parties hereto shall reasonably
cooperate in all matters reasonably necessary to ensure the proper administration of any compensation and benefit plans, including the
Seller Benefit Plans, and to facilitate the transfer of employment of Transferred Employees, including by exchanging information and
data relating to the Business Employees (except to the extent prohibited by applicable Law) and providing access to Business Employees
and representatives thereof. Any such information provided pursuant to this Section 7.06(i) shall be subject to the
Confidentiality Agreement.

 

(j)            No
Third-Party Beneficiary Rights. This Section 7.06 is included for the sole benefit of the parties to this Agreement and
their respective transferees and permitted assigns and does not and shall not create any right in any Person, including any Business
Employee or representative thereof, who is not a party to this Agreement. Nothing contained in this Agreement (express or implied) (i) is
intended to create or amend, or to require the Purchaser or its Affiliates to establish or maintain, any employee benefit plan or arrangement
or (ii) is intended to confer upon any individual any right to employment for any period of time, or any right to a particular term
or condition of employment. No Business Employee, including any representative, beneficiary or dependent thereof, or any other Person
not a party to this Agreement, shall be entitled to assert any claim against the Purchaser, the Seller Parties or any of their respective
Affiliates under this Section 7.06.

 

SECTION 7.07. COBRA
Indemnification and Information. To the extent the Purchaser is obligated to provide (and provides) continuation coverage under a
group health plan pursuant to Part 6 of Subtitle B of Title I of ERISA and Section 4980B of the Code (“COBRA”)
to any person who is an “M&A qualified beneficiary” as such term is defined in Treasury Regulation Section 54.4980B-9
(each, a “COBRA Recipient”), the Purchaser shall be reimbursed by the Seller Parties to the extent the aggregate COBRA
Recipients’ claims for such COBRA benefits exceed the aggregate COBRA Recipients’ premiums paid to the Purchaser during such
period, to the extent not covered by other applicable insurance of the Purchaser (the “Excess COBRA Liabilities”),
subject to, and in accordance with, Section 10.02(e) of this Agreement.

 

SECTION 7.08.     Post-Closing
Access.

 

(a)            The
Purchaser agrees that it shall, and shall cause its Affiliates to, preserve and keep the books of accounts and financial and other Records
held by it relating to the Business (including accountants’ work papers) for a period of seven years from the Closing Date; provided
that prior to disposing of any such Records after such period, the applicable Person shall provide written notice to the Seller Parties
of its intent to dispose of such Records and shall provide the Seller Parties with the opportunity to take ownership and possession of
such Records (at the Seller Parties’ sole expense) within sixty (60) days after such notice is delivered. If the Seller Parties
do not confirm their intention in writing to take ownership and possession of such Records within such sixty (60)-day period, the Person
who possesses the Records may proceed with the disposition of such Records.

 

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(b)            After
the Closing, the Seller Parties and the Purchaser shall make, or cause to be made, all Records and other information and all employees
and auditors, in each case, relating to the Business (including by making them available for interviews, review of files or pleadings,
preparation and provision of witness statements, depositions, interrogatories, testimony, investigation and preparation in connection
with any negotiations, legal or arbitration Action) available to the other, at such times and places as may be reasonably required by
such party, and at the sole expense of the requesting party, (i) in connection with any audit or investigation of, insurance claims
by, Actions or disputes involving, or governmental investigations of, a Seller Party or the Purchaser or any of their respective Affiliates,
(ii) in order to enable the Seller Parties or the Purchaser to comply with its obligations under this Agreement, any of the other
Transaction Documents and each other agreement, document or instrument contemplated hereby or thereby or (iii)
for any other reasonable business purpose relating to a Seller Party, the Purchaser or any of their respective Affiliates, but
excluding, in each case, any dispute between the Seller Parties or any of their respective Affiliates, on the one hand, and the Purchaser
or any of its Affiliates, on the other hand, except as would be required by applicable civil process or applicable discovery rules; provided
that the reviewing party and its Representatives shall conduct any such activities in such a manner as not to interfere in any material
respect with the conduct of the Business or the Retained Businesses, as applicable; provided further that no party shall be obligated
to provide such access or information if such party determines, in its reasonable judgment, that doing so could (A) violate applicable
Law, an applicable Judgment or a Contract or obligation of confidentiality owing to a third party or (B) jeopardize the protection
of an attorney-client privilege, attorney work product protection or other legal privilege. In any such event, at the requesting party’s
reasonable request, the parties shall use their commercially reasonable efforts to develop an arrangement to communicate, to the extent
feasible, the applicable information or a portion thereof in a manner that would not violate applicable Law, Judgment or obligation or
risk waiver of such privilege; provided that (1) the disclosing party shall not be required to incur any costs or expenses
in connection therewith and (2) if a Seller Party is the disclosing party, such Seller Party may redact portions of any information
provided pursuant to this Section 7.08(b) to the extent such portions relate exclusively to the Retained Businesses
or the Excluded Assets. All requests for information made pursuant to this Section 7.08(b) shall be directed to the
executive officer or other Person designated by the relevant disclosing party.

 

SECTION 7.09. Fees
and Expenses. Except as otherwise provided in this Agreement, all fees and expenses incurred in connection with the Transactions
shall be paid by the party incurring such fees or expenses. The reasonable out-of-pocket fees and expenses of a physical inventory of
Purchased Assets in Section 2.02(a)(ii) (Vehicles), Manufacturer Parts and Accessories and Non-Manufacturer Parts and Accessories
conducted on behalf of the Seller Parties shall be borne 50% by the Seller Parties and 50% by the Purchaser.

 

SECTION 7.10.     Intercompany
Accounts; Affiliate Agreements.

 

(a)            Prior
to the Closing, the Seller Parties shall cause any amounts owed to or by any member of the Seller Group or Affiliate thereof, on the
one hand, from or to a Transferred Entity, on the other hand (other than (i) pursuant to, or in accordance with, the Transaction
Documents and (ii) amounts owed to or by any Transferred Entity from or to any other Transferred Entity), to be canceled, settled
or otherwise discharged without any further or continuing Liability on the part of either party thereto.

 

(b)            Except
for Transferred Real Property Leases with respect to any Delayed Closing Dealerships, Seller Parties shall cause all Affiliate Agreements
and Contracts entered into after the date hereof that would be Affiliate Agreements if in effect as of the date hereof, other
than any Transaction Document or any such items set forth on Section 7.10(b) of the Disclosure Letter, to be settled or terminated
with respect to the applicable Transferred Entity prior to the Closing without any further or continuing Liability on the part of either
party thereto.

 

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SECTION 7.11. Tax Matters.

 

(a)            Transfer
Taxes. Notwithstanding anything herein to the contrary, the Purchaser shall pay (or otherwise bear) 100% of any transfer, documentary,
sales, use, value- added, stamp, registration and other similar Taxes incurred as a result of the sale of the Purchased Assets and Transferred
Entities by the Seller Parties to the Purchaser (and excluding, for the avoidance of doubt, any Taxes incurred as a result of any reorganization
or restructuring transactions undertaken by the Seller Parties prior to the sale of the Purchased Assets and Transferred Entities by
the Seller Parties to the Purchaser, which Taxes shall be paid (or otherwise borne) by the Seller Parties) (collectively, “Transfer
Taxes”); provided that if the Seller Parties (or their Affiliates) are required under applicable Law to pay any such
Transfer Taxes, the Seller Parties (or their Affiliates) shall pay such Transfer Taxes and the Purchaser shall promptly reimburse the
Seller Parties (or their Affiliates) for such payment. The Purchaser shall prepare and file all Tax Returns required to be filed with
respect to all Transfer Taxes to the extent permitted by applicable Law, and the Seller Parties shall reasonably cooperate to enable
the timely filing of any such Tax Returns. The Purchaser and the Seller Parties shall cooperate in good faith to minimize, to the extent
permissible under applicable Law, the amount of any such Transfer Taxes, including by signing and delivering such resale, occasional
sale and other certificates or forms as may be necessary or appropriate to establish an exemption from (or otherwise reduce) any such
Transfer Taxes.

 

(b)            Tax
Allocation Principles.

 

(i)                The
Seller Parties shall be allocated and bear (A) any and all Income Taxes imposed by any applicable Law on the Transferred Entities
and (B) any and all Asset Taxes attributable to, in each case, (1) any Tax period ending before the Closing Date and (2) the
portion of any Straddle Period ending immediately before the Closing Date. The Purchaser shall be allocated and bear (X) any and
all Income Taxes imposed by applicable Law on the Transferred Entities and (Y) any and all Asset Taxes attributable to (1) any
Tax period beginning on or after the Closing Date and (2) the portion of any Straddle Period beginning on and including the Closing
Date.

 

(ii)               For
purposes of allocating Taxes to the periods before and after the Closing Date (including in determining Closing Current Assets and Closing
Current Liabilities), the portion of any such Taxes that is attributable to the portion of the period ending immediately before the Closing
Date shall be:

 

    (A)            in
the case of Taxes that are either (1) Income Taxes, or (2) Asset Taxes that are based upon or related to sales or receipts
or imposed on a transactional basis, deemed equal to the amount that would be payable if the relevant Tax period ended immediately before
the Closing Date; provided that exemptions, allowances or deductions that are calculated on an annual basis (including depreciation
and amortization deductions) shall be allocated between the period ending immediately before the Closing Date and the period beginning
on and including the Closing Date in proportion to the number of days in each period; and

 

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   (B)             in
the case of Taxes that are ad valorem, property or other Asset Taxes that are imposed on a periodic basis, deemed to be the amount of
such Taxes for the entire Straddle Period that includes the Closing Date (or, in the case of such Taxes determined on an arrears basis,
the amount of such Taxes for the immediately preceding period), multiplied by a fraction the numerator of which is the number of calendar
days in the portion of the period ending immediately before the Closing Date and the denominator of which is the number of calendar days
in the entire period. For purposes of this clause (B), the period for such Asset Taxes shall begin on the date on which ownership of
the applicable Purchased Asset or asset of a Transferred Entity gives rise to liability for the particular Asset Tax and shall end on
the day before the next such date.

 

(iii)              If
the actual amount of a Tax is not determinable in connection with the preparation of the Closing Statement or the Revised Closing Statement,
as applicable, the Purchaser and the Seller Parties shall utilize the most recent information available in estimating Closing Current
Assets and Closing Current Liabilities. Upon determination of the actual amount of a Tax, to the extent the actual amount of such Tax
allocable to the Purchaser or the Seller Parties under this Section 7.11 is determined to be different than the amount, if
any, that was taken into account in the determination of the Closing Purchase Price (or was not taken into account in the determination
of the Closing Purchase Price) as set forth in the Closing Statement or Revised Closing Statement, as applicable, timely payments shall
be made from the Seller Parties to the Purchaser, or from the Purchaser to the Seller Parties, as applicable, to the extent necessary
to cause the applicable party to bear the amount of such Tax that is allocable to such party under this Section 7.11.

 

(c)            Tax
Cooperation. The Seller Parties and the Purchaser shall, and shall cause their respective controlled Affiliates and Representatives
to, reasonably cooperate in connection with the filing of any Tax Return or the conduct of any Tax Action and making employees available
on a mutually convenient basis to provide additional information and explanation of any Records or materials provided under this Agreement,
in each case with respect to the Purchased Assets, the Transferred Entities, the Business or Transfer Taxes, which cooperation shall
include supplying any information in such Person’s possession that is reasonably requested in connection with any such Tax Return
or Tax Action, provided that in no event (including pursuant to Section 7.08) shall the Seller Parties be required
to provide to any Person any Excluded Tax Return and neither the Purchaser nor any of its Affiliates shall have any rights with respect
to any Tax Action involving a Seller Party that does not relate to the Purchased Assets or Transferred Entities.

 

(d)            Closing
Date Actions. The Purchaser shall not, and shall not cause or permit any Affiliate (including a Transferred Entity) to, cause or
permit any Transferred Entity to take any action on the Closing Date after the Closing that would reasonably be expected to result in
a material and adverse Tax consequence to the Seller Parties.

 

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SECTION 7.12. Transfer
of Intellectual Property. For a period of up to three (3) months after the Closing Date, (a) the Seller Parties shall provide
to the Purchaser the necessary information and deliver such assignments, transfers, Consents and other documents and instruments as may
be reasonably required to permit the Purchaser at its expense to effect and perfect the transfer of the registrations of the Transferred
Registered Intellectual Property and (b) the
Seller Parties shall reasonably cooperate with the Purchaser, at the Purchaser’s expense, in filing appropriate documents if requested
by the Purchaser and required by the local patent, trademark, or copyright office to record the change of ownership of such Transferred
Registered Intellectual Property. After such period, the Seller Parties shall have no further obligation hereunder with respect to the
Transferred Registered Intellectual Property.

 

SECTION 7.13. Replacement
of Seller Guarantees. On or prior to the Closing, the Purchaser shall use its best efforts to cause the replacement, effective as
of the Closing, of all guarantees, letters of credit and bonds, other sureties and performance guarantees provided by the Seller Parties
or any of their respective Affiliates (other than the Transferred Entities) in respect of the Business, the Purchased Assets and the
Transferred Entities (the “Credit Support Items”), including the Credit Support Items set forth on Section 7.13
of the Disclosure Letter, on a like-for- like basis, which replacement shall include a release, in a form reasonably acceptable to the
Seller Parties, of all obligations undertaken by the applicable Seller Parties or the applicable Affiliate thereof effective as of the
Closing; provided that if any Credit Support Item is not replaced effective as of the Closing, the Purchaser shall use its best
efforts to replace such Credit Support Item promptly after the Closing (and the Purchaser shall have an ongoing obligation to use such
efforts until each such Credit Support Item is replaced). The Purchaser shall indemnify the Seller Indemnitees against, and hold each
of them harmless from, any and all Losses (including all out- of-pocket costs and expenses incurred by them to maintain any Credit Support
Item after the Closing) arising after the Closing that are incurred or suffered by any Seller Indemnitee related to or arising out of
any Credit Support Item.

 

SECTION 7.14. Payments
from Third Parties. In the event that, on or after the Closing Date (or, solely with respect to any Delayed Closing Purchased Assets,
the applicable Delayed Closing), the Seller Group, on the one hand, or the Purchaser, on the other hand, shall receive any payments or
other funds due to the other pursuant to the terms of any of the Transaction Documents, then the party receiving such funds shall promptly
forward such funds to the proper party. The parties acknowledge and agree there is no right of offset regarding such payments and a party
may not withhold funds received from third parties for the account of the other party in the event there is a dispute regarding any other
issue under any of the Transaction Documents.

 

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SECTION 7.15. Further
Assurances. After the Closing Date (or, solely with respect to any Delayed Closing Purchased Assets, the applicable Delayed Closing),
subject to the terms of this Agreement, each party shall, and shall cause its Subsidiaries to, execute and deliver such additional documents,
instruments, conveyances and assurances and take such further actions as may be reasonably requested by the other party in order to evidence
or consummate the Transactions and comply with the terms of this Agreement and the other Transaction Documents. Such further acts include
reasonably assisting the Purchaser (at the Purchaser’s written request and at the Purchaser’s cost) in its efforts to be
restated as a successor employer solely for employment tax purposes with respect to the Selling Entities’ employees hired by the
Purchaser, including, but not limited to, the annual wage limitation for FICA tax, and to meet the requirements of Revenue Procedure
2004-53, Section 4, Standard Procedure, for federal payroll tax purposes. In furtherance of the foregoing, subject to Section 2.02,
if after the Closing (or, solely with respect to any Delayed Closing Purchased Assets, the applicable Delayed Closing) either the Purchaser
or a Seller Party becomes aware that any of the Purchased Assets has not been transferred to the Purchaser or that any of the Excluded
Assets has been transferred to the Purchaser, it shall promptly notify the other party and the parties hereto shall, as soon as reasonably
practicable, ensure that such property is transferred with any necessary prior Consent, to:

 

(a)            the
Purchaser, in the case of any Purchased Asset which was not transferred at the Closing (or, solely with respect to any Delayed Closing
Purchased Assets, the applicable Delayed Closing); or

 

(b)            the
Seller Parties, in the case of any Excluded Asset which was transferred at the Closing (or, solely with respect to any Delayed Closing
Purchased Assets, the applicable Delayed Closing).

 

SECTION 7.16. Correspondence.
From and after the Closing (or, solely with respect to any Delayed Closing Purchased Assets, the applicable Delayed Closing) for a period
of one (1) year, the Purchaser shall use commercially reasonable efforts to cause to be delivered promptly to the Seller Group any
mail or other communications received by the Purchaser or any of its Affiliates or any Transferred Entity intended for any member of
the Seller Group or any Retained Businesses. The provisions of this Section 7.16 are not intended to, and shall not be deemed
to, constitute an authorization by any member of the Seller Group to permit acceptance service of process on its behalf, and, from and
after the Closing, none of the Purchaser, the Transferred Entities and their respective Subsidiaries is or shall be deemed to be the
agent of any member of the Seller Group for service of process purposes.

 

SECTION 7.17. Transition
Services. Prior to the Closing, the parties will in good faith negotiate a transition services agreement reasonably agreeable to
the parties for provision of services by the Purchaser to the Seller Group to enable the Seller Group to wind up their remaining operations
and/or resolve any objections asserted with respect to any of the Transactions raised by any Manufacturer, with the scope of services,
duration and costs (which shall in no event be in an amount greater than the Purchaser’s reasonable fully burdened costs (except
with respect to services required to complete the obligations under Section 2.04(a), which will be provided at no cost)).

 

SECTION 7.18.     Financing
Matters.

 

(a)            The
Seller Parties acknowledge that the Purchaser intends to obtain Debt Financing to finance a portion of the Closing Purchase Price and
the other amounts required to be paid by the Purchaser to consummate the Transactions; provided, however, the Purchaser
confirms that it is not a condition to the Closing or any of its other obligations under this Agreement that the Purchaser obtain any
Debt Financing (or any other financing) for or in connection with the transactions contemplated by this Agreement.

 

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(b)            The
Purchaser shall, and shall cause each of its Subsidiaries to, use commercially reasonable efforts to take, or cause to be taken, all
actions and to do, or cause to be done, all things necessary, proper or advisable to consummate Debt Financing sufficient, when taken
together with Cash, available lines of credit or other sources of immediately available funds available to it, to pay the Closing Purchase
Price and the other amounts required to be paid by the Purchaser to consummate the Transactions as promptly as practicable after the
date hereof, but in any event on or before the Closing, including, to the extent the debt financing contemplated by the Debt Commitment
Letter is necessary to finance such amounts, using commercially reasonable efforts to (i) comply with the terms and conditions of,
and maintain in effect, the Debt Commitment Letter; (ii) negotiate, enter into and deliver definitive agreements with respect to
the debt financing contemplated by the Debt Commitment Letter on the terms and conditions contained in the Debt Commitment Letter; (iii) satisfy
(or obtain waivers of) on a timely basis all conditions applicable to such debt financing in such definitive agreements; and (iv) if
all conditions to such debt financing are, or upon funding of such debt financing will be, satisfied, cause the other parties to the
Debt Commitment Letter and such definitive agreements to comply with their obligations under the Debt Commitment Letter and such definitive
agreements and to fund such debt financing at or prior to the Closing. Notwithstanding anything to the contrary contained herein, it
is understood and agreed that the commercially reasonable efforts of the Purchaser contemplated by this Section 7.18(b) shall
be deemed to require the Purchaser to enforce its rights under the Debt Commitment Letter and the definitive agreements with respect
to the debt financing contemplated thereunder (which may include seeking specific performance against the applicable Financing Sources
or other parties thereto).

 

(c)            Without
the prior written consent of the Seller Parties, the Purchaser shall not permit any amendment, restatement, supplement or other modification
to be made to, or any waiver of any provision or remedy under, or terminate or replace, the Debt Commitment Letter if such amendment,
restatement, supplement, modification, waiver, termination or replacement would, or would reasonably be expected to, (i) delay,
impede or prevent the Closing or the availability or funding of Debt Financing sufficient, when taken together with Cash, available lines
of credit or other sources of immediately available funds available to it, to pay the Closing Purchase Price and the other amounts required
to be paid by the Purchaser to consummate the Transactions, (ii) expand the conditions contained in the Debt Commitment Letter or
create any new or additional condition to the debt financing thereunder (other than the conditions contained in the Debt Commitment Letter
as in effect on the date of this Agreement) or otherwise make it less likely that Debt Financing sufficient, when taken together with
Cash, available lines of credit or other sources of immediately available funds available to it, to pay the Closing Purchase Price and
the other amounts required to be paid by the Purchaser to consummate the Transactions would be funded (including by making satisfaction
of the conditions to such Debt Financing less likely to occur), (iii) reduce the net cash proceeds of the debt financing contemplated
by the Debt Commitment Letter, including any reduction in the aggregate principal amount of the debt financing available thereunder or
any increase in the aggregate amount of fees to be paid or original issue discount of such debt financing (unless alternative financing
or financing commitments in such amount have been obtained that (x) do not contain new or additional conditions or otherwise expand,
amend or modify any of the terms or conditions from the terms and conditions under the Debt Commitment Letter that would be reasonably
likely to (1) prevent, delay or impair the ability of the Purchaser to consummate the Transactions or (2) adversely impact
in any material respect the ability of the Purchaser to enforce its rights against the other parties to such alternative financing or
financing commitments and (y) is provided by a Financing Source that is a nationally- recognized commercial bank or any other Person
acceptable to the Seller Parties in their reasonable discretion), (iv) change the date for termination and/or expiration of the
Debt Commitment Letter to an earlier date, or (v) adversely impact the ability of the Purchaser to enforce its rights against other
parties to the Debt Commitment Letter. Without the prior written consent of the Seller Parties, the Purchaser shall not permit any assignment
of rights or obligations under the Debt Commitment Letter other than as expressly set forth therein on the date of this Agreement, provided
that the Financing Sources party thereto may syndicate the Debt Financing so long as each of such Financing Sources retains and remains
obligated to fund its commitment under the Debt Financing until the Debt Financing is fully funded by the designated assignees and the
syndicated sources of funding for the Debt Financing. For the avoidance of doubt, the Purchaser may modify, supplement or amend the Debt
Commitment Letter to add lead arrangers, bookrunners, syndication agents, documentation agents or entities in similar roles. The Purchaser
shall promptly (and in any event within five (5) business days) provide the Seller Parties written notice of any amendment, restatement,
supplement, modification, waiver, termination or replacement relating to the Debt Commitment Letter.

 

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(d)            In
the event that all or any portion of the debt financing becomes unavailable on the terms and conditions described in or contemplated
by the Debt Commitment Letter for any reason, other than as a result of the replacement thereof with alternate financing or financing
commitments in compliance with Section 7.18(c), the Purchaser shall use its commercially reasonable efforts to take, or cause
to be taken, all actions and to do, or cause to be done, all things necessary, proper or advisable to arrange and obtain, as promptly
as practicable following the occurrence of such event, substitute financing on terms and conditions that are not less favorable to the
Purchaser, taken as a whole, than the terms and conditions set forth in the Debt Commitment Letter (as applicable, including fees and
 “market flex” provisions) relating to the debt financing to be replaced, from the same or alternative sources in an amount
sufficient to consummate the Transactions and the other transactions contemplated by this Agreement (the “Alternative Financing”)
(and shall, promptly upon the execution and delivery thereof, provide to the Seller Parties true and complete copies of the commitment
letters and definitive documents related to the Alternative Financing (in the case of a fee letter, as customarily redacted for a transaction
of this nature)). All references to the term “Debt Commitment Letter” shall include any commitment letter or similar document
for the Alternative Financing.

 

(e)            The
Purchaser shall give the Seller Parties prompt written notice upon obtaining knowledge thereof (and in any event within three (3) business
days): (i) of any breach or default (or any event or circumstance that, with or without notice, lapse of time or both, could reasonably
be expected to give rise to such breach or default) under the Debt Commitment Letter by any party thereto, (ii) of the receipt of
any written notice from any party to the Debt Commitment Letter with respect to any actual or threatened breach, default, withdrawal,
termination or repudiation of any provisions of the Debt Commitment Letter by such party, (iii) of any material dispute or disagreement
between or among any parties to the Debt Commitment Letter and (iv) if for any reason the Purchaser believes in good faith that
it will not be able to timely obtain all or any portion of the Debt Financing on the terms, in the manner or from the sources contemplated
by the Debt Commitment Letter. Promptly following any reasonable written request by the Seller Parties therefor, the Purchaser shall
provide the Seller Parties any information reasonably requested by the Seller Parties in writing relating to any circumstance referred
to in the immediately preceding sentence subject to any applicable confidentiality requirements set forth in the Debt Commitment Letter
or otherwise. The Purchaser shall keep the Seller Parties informed on a reasonably current basis of the status of its efforts
to arrange any Debt Financing (or substitute financing obtained in accordance with Section 7.18(d) and provide to the
Seller Parties, promptly upon request, copies of all definitive documentation relating to any Debt Financing (or substitute financing
obtained in accordance with Section 7.18(d)). The Seller Group and their respective Representatives shall be given a reasonable
opportunity to review all presentations, bank information memoranda and similar marketing materials, materials for rating agencies and
other documents prepared by or on behalf of or used by the Purchaser or any of its Affiliates or used or distributed to any Financing
Source or any of its Affiliates in connection with any Debt Financing that include any logos of or information about or provided by the
Business, the Seller Group, their Affiliates, or their respective Representatives; provided that any authorization letters (or
the bank information memoranda in which such letters are included) shall include language that exculpates the Seller Group, their Affiliates
and their respective Representatives from any Liability in connection with the unauthorized use by the recipients thereof of the information
set forth in any such bank confidential information memoranda or similar memoranda or report distribution in connection therewith.

 

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(f)            Prior
to the Closing Date, the Seller Parties shall use commercially reasonable efforts to provide, and shall use their commercially reasonable
efforts to cause their respective controlled Affiliates and their respective Representatives to provide, at the Purchaser’s sole
cost and expense, the Purchaser such cooperation as may be reasonably requested by the Purchaser with respect to the arrangement of the
Debt Financing and is customarily required for financings of the type contemplated by the applicable Debt Financing; provided
that such requested cooperation does not unreasonably interfere with the Business or the other businesses and operations of the Seller
Group (or the operations of their respective Affiliates or their or their respective Affiliates’ applicable Representatives) or
cause competitive harm thereto and that any information requested by the Purchaser is reasonably available to the Seller Group (including
reasonably available to the Seller Group via any of their respective controlled Affiliates or their respective Representatives), and
provided further that such requests are timely made so as to not delay the Closing beyond the date that it would otherwise occur.
Such cooperation may include, upon the Purchaser’s written request, using commercially reasonable efforts to: (a) provide
historical financial information and other similar information prepared in the ordinary course of business relating to the Purchased
Assets and all updates thereto made in the ordinary course of business and provide reasonable assistance to the Purchaser in each case
in connection with and to the extent customarily required for the Purchaser’s preparation of (i) a description of the Purchased
Assets and “Management’s Discussion and Analysis” with respect to the Purchased Assets, (ii) pro forma financial
information to be included in any marketing materials to be used in connection with the Debt Financing (it being agreed that in no event
shall the Seller Group or their respective Representatives be required to provide any projections or other pro forma or other forward-looking
financial information, or assistance relating to (x) the proposed aggregate amount of Debt Financing or other financing, together
with assumed interest rates, dividends (if any) and fees and expenses relating to the incurrence of such Debt Financing or other financing,
(y) any post-Closing or pro forma cost savings, synergies, capitalization, ownership or other pro forma adjustments desired to be
incorporated into any information used in connection with the Debt Financing or (z) any financial information related to the Purchaser
or any of its Affiliates or any adjustments that are not directly related to the acquisition of the Transferred Entities by the Purchaser)
and (iii) any other relevant section of any offering memoranda, offering prospectuses, bank information memoranda, marketing materials,
rating agency presentations and similar documents, and identify any information contained therein that would constitute material, non-public
information with respect to the Seller Group, their Affiliates or their respective securities or the Purchased Assets for purposes of
foreign, United States federal or state securities laws, in each case to the extent necessary in connection with the Debt Financing;
(b) participate in a reasonable number of due diligence sessions, drafting sessions, road shows and sessions with ratings agencies
in connection with the Debt Financing (with all of the foregoing to be virtual at the Seller Parties’ or such persons’ reasonable
request) including using commercially reasonable efforts to facilitate direct contact between senior management (with appropriate seniority
and expertise) and representatives (including, for the avoidance of doubt, accountants) of the Selling Entities, on the one hand, and
the Financing Sources in connection with the Debt Financing, on the other hand, for purposes thereof, and permit prospective lenders
and/or underwriters involved in the Debt Financing to conduct customary due diligence, in each case with respect to the cooperation provided
pursuant to this clause (f), during normal business hours and with reasonable prior notice and subject to customary confidentiality arrangements;
(c) reasonably cooperate in satisfying the conditions precedent to the Debt Financing to the extent such conditions require the
cooperation of the Seller Group, any of their Subsidiaries or their respective Representatives; (d) requesting that auditors and
accounting firms of the applicable members of Seller Group provide reasonable assistance as and to the extent requested by the Purchaser,
including by obtaining and providing customary accountants’ comfort letters and consents to the extent required, customary or reasonably
appropriate in connection with the Debt Financing; (e) providing reasonable assistance in the review of disclosure schedules related
to the Debt Financing for completeness and accuracy; (f) furnish at least
eight (8) business days prior to the Closing Date all documentation and other information required by United States regulatory authorities
under applicable “know your customer” and anti-money laundering rules and regulations, including the U.S.A. Patriot
Act of 2001, in each case to the extent reasonably requested by the Purchaser in writing at least ten (10) business days prior to
the Closing Date; (g) reasonably facilitate the Purchaser’s preparation of the documentation necessary to pledge and mortgage
the Purchased Assets that will be collateral under the Debt Financing, including to reasonably assist the Purchaser in its preparation
of disclosure schedules relating to the Purchased Assets in connection with Debt Financing; and (h) furnishing the Purchaser and
its Financing Sources with the Required Information within the timeframes expressly set forth in the Debt Commitment Letter. Notwithstanding
anything in this Section 7.18 or otherwise in this Agreement to the contrary, neither the Seller Group nor any of their Affiliates
or their respective Representatives shall be required (i) to cause any of their respective boards of directors or managers (or equivalent
bodies) to adopt any resolution, grant any approval or authorization or otherwise take any corporate or similar action in each case for
the purpose of approving the Debt Financing (other than those of a Transferred Entity that only take effect immediately prior to the
Closing and that terminate with no Liability to any member of the Seller Group or any of its Affiliates or their respective Representatives
upon termination of this Agreement); (ii) to pay any commitment or other fee or reimburse any expense in respect of or in connection
with the Debt Financing or incur any actual or potential liability or give any indemnities (other than, in the case of any such fees
or expenses, those of a Transferred Entity that only take effect upon the Closing and that terminate with no Liability to the Seller
Group or any of its Affiliates or their respective Representatives upon termination of this Agreement); (iii) to deliver or obtain
legal opinions of internal or external counsel in connection with the Debt Financing; (iv) to have any member of the Seller Group
or any of its Affiliates or any of their respective Representatives (other than any Transferred Entity to the extent the same only take
effect upon the Closing and that terminate with no Liability to the Seller Group or any of its Affiliates or their respective
Representatives upon termination of this Agreement) enter into, execute, deliver or perform, or amend or modify, any agreement, certificate,
document or instrument, including any financing agreement, with respect to the Debt Financing; (v) to cause any of their officers,
directors, employees or other Representatives to take any action that could result in any actual or personal Liability with respect to
any matters relating to the Debt Financing; (vi) to take any action that will (x) conflict with or violate the organizational
documents of any member of the Seller Group or any of their Affiliates or any Law or order, (y) cause any representation or warranty
in this Agreement to be breached or become inaccurate, cause any breach of any covenant in this Agreement, or cause any condition to
the Closing set forth in Article VIII to not be satisfied or (z) result in the contravention of, or that could reasonably
be expected to result in a violation or breach of, or a default under, any Contract to which any member of the Seller Group or any of
its Affiliates is a party or bound; (vii) to provide access to or disclose information constituting attorney work product or where
the Seller Parties determine that such access or disclosure could jeopardize the attorney-client privilege or contravene any applicable
Law or order; or (viii) to waive or amend any terms of this Agreement or any Ancillary Agreement. No member of the Seller Group
or any of its Affiliates or Representatives shall be required to make any representation or warranty in connection with the Debt Financing
or the marketing efforts with respect thereto, except to the extent of any representation or warranty made by any member of the Seller
Group pursuant to this Agreement, the accuracy of which is a condition to the closing of any Debt Financing. For the avoidance of doubt,
the Purchaser acknowledges and agrees that the provisions contained in this Section 7.18(f) represent the sole obligations
of the Seller Group, their Affiliates and their Representatives with respect to assistance and cooperation in connection with the arrangement
of any financing (including the Debt Financing) to be obtained by the Purchaser with respect to the Transactions and the other transactions
contemplated by this Agreement, and no other provision of this Agreement (including the Exhibits and Schedules hereto) shall be deemed
to expand or modify such obligations. All non-public or other confidential information provided by or on behalf of the Seller Group,
their respective Affiliates or their respective Representatives pursuant to this Section 7.18, to the extent identified as
such by the Seller Group, shall be kept confidential in accordance with, and shall be subject to the terms of, the Confidentiality Agreement.

 

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(g)              The
Purchaser acknowledges and agrees that none of the Seller Parties, their Affiliates and each of their respective Representatives shall
have any responsibility for, or incur any Liability to any Person under, any financing (including the Debt Financing) that the Purchaser
may raise in connection herewith, or any cooperation provided pursuant to this Section 7.18. The Purchaser shall indemnify,
defend, and hold harmless the Seller Indemnitees from and against any and all Losses suffered or incurred (directly or indirectly) by
them in connection with (i) the arrangement or consummation of the Debt Financing, (ii) any action taken by them pursuant to
this Section 7.18 or in connection with the arrangement of the Debt Financing or (iii) any information utilized in connection
therewith, in each case, except to the extent suffered or incurred as a result of the bad faith, gross negligence or willful misconduct
of such Seller Indemnitee. The Purchaser shall promptly, upon request by any Seller Party, reimburse the Seller Indemnitees for all reasonable
out-of-pocket costs and expenses (including reasonable attorneys’ fees) incurred by them in connection with this Section 7.18.

 

SECTION 7.19. Title
Insurance and Real Property Cooperation. In the event that the Purchaser or any of its lenders elects to obtain one or more Title
Policies for any of the Insured Transferred Real Property, the Purchaser shall pay directly to the Title Insurance Company, at the Purchaser’s
sole cost and expense, the cost of all title insurance policy premiums (including, without limitation, the cost of any additional premiums
required to secure extended title coverage and the cost of any modifications and endorsements to the Title Policies reasonably requested
by the Purchaser) as well as the cost of any related title searches, title abstracting, lien searches, rundowns, photocopies, and all
other costs and charges in connection with the obtaining or procurement of any Title Policies. The Seller Parties agree, both for themselves
and on behalf of the Seller Group, to use commercially reasonable efforts to cooperate (at the Purchaser’s expense) with the Purchaser
in connection with the Purchaser’s obtaining or procurement of the Title Policies, including, without limitation, cooperating with
the Purchaser to seek to obtain or procure any estoppels, Consents, and title curative documents, to the extent necessary to cure any
title defects that would materially impair the validity of title to the Insured Transferred Real Property for which a Title Policy is
being obtained; provided, that no member of the Seller Group shall be required to (1) pay any consideration or out of pocket
costs therefor, (2) commence, defend or participate in any Action or (3) offer or grant any accommodation (financial or otherwise)
to any third party in connection therewith. The Seller Parties further agree, both for themselves and on behalf of the Seller Group,
and subject to the proviso in the immediately preceding sentence, upon the written request of the Purchaser, to use commercially reasonable
efforts to cooperate with the Purchaser to cause to be executed and delivered any and all customary title affidavits, evidence of authority
and resolutions, evidence of good standing, organizational documents, releases of Liens, and such other documents, agreements, instruments,
certificates, affidavits and information (in each case, in form and substance reasonably satisfactory to the Seller Parties) reasonably
required by the Title Insurance Company in order to commit to issuing, at Closing, the Title Policies, executed (and acknowledged, as
applicable) by the Seller Group and such other Persons as may be reasonably requested in connection therewith (provided, that the parties
acknowledge that neither the issuance of the Title Policies, nor the issuance of any endorsements reasonably requested by the Purchaser
or its lenders shall be a condition to the Purchaser’s obligation to effect the Closing).

 

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SECTION 7.20. Use of
Name. Except with respect to any Delayed Purchased Assets, Delayed Closing Purchased Assets or ROFR Assets, within thirty (30) days
following the Closing Date, the Seller Parties shall, and shall cause their Subsidiaries to, use commercially reasonable efforts to cease
using the terms set forth on Section 7.20 of the Disclosure Letter and any other word, expression or identifier of source confusingly
similar thereto or constituting an abbreviation, derivation or extension thereof (the “Transferred Entity Marks”),
including removing, or causing to be removed, all such names, marks or logos from wherever they may appear on a Seller’s assets,
and thereafter, the Seller Parties shall not, and shall cause their respective Subsidiaries not to, use the Transferred Entity Marks
or any other Trademarks confusingly similar thereto. Each of the Seller Parties acknowledges that, after the Closing Date (or, solely
with respect to any Delayed Closing Purchased Assets, the applicable Delayed Closing), it and its Subsidiaries have no rights whatsoever
to the Intellectual Property included in the Purchased Assets. Notwithstanding the foregoing, nothing in this Section 7.20
shall be deemed to prohibit the Seller Parties or their Subsidiaries from using any Transferred Entity Mark or any other Trademark (1) in
a manner that constitutes fair use (including nominative fair use) under applicable Law or in a manner that does not constitute use as
a trademark (e.g., where the Trademark is not visible to the public) or (2) in connection with public reporting or disclosure requirements
under applicable Laws or the applicable rules and regulations of any national securities exchange or national securities quotation
system.

 

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SECTION 7.21. Manufacturer
Payments. The parties shall use their commercially reasonable efforts to ensure that (a) amounts due to the Seller Group but
collected by the Purchaser (e.g., Manufacturer receivables, Manufacturer credits relating to items such as warranty claims or other claims,
credit card payments, etc.) arising out of or in connection with the operation of the Business prior to Closing (or, solely with
respect to any Delayed Closing Purchased Assets, the applicable Delayed Closing) will be paid over to the Seller Group promptly; (b)
amounts due to the Purchaser but collected by the Seller Group arising out of or in connection with
the operation of the Business on or following the Closing (or, solely with respect to any Delayed Closing Purchased Assets, the applicable
Delayed Closing) (and constituting a Purchased Asset) or as provided in this Agreement will be paid over to the Purchaser promptly; (c) amounts
paid by the Seller Group but owed by the Purchaser as a result of any Manufacturer erroneously billing the Seller Group for items arising
out of or in connection with the operation of the Business following Closing (or, solely with respect to any Delayed Closing Purchased
Assets, the applicable Delayed Closing) will be paid over to the Seller Group promptly; and (d) amounts paid by the Purchaser but
owed by the Seller Group under this Agreement as a result of any Manufacturer erroneously billing the Purchaser for items arising out
of or in connection with the operation of the Business prior to Closing (or, solely with respect to any Delayed Closing Purchased Assets,
the applicable Delayed Closing) will be paid over to the Purchaser promptly. If there are vehicles in- transit on the Closing Date (or,
solely with respect to any Delayed Closing Purchased Assets, the applicable Delayed Closing) (whether or not they are physically present)
that have not been funded by the Seller Group’s floor plan lender and the parties do not know whether they will be paid for by
the Purchaser’s floor plan lender or the Seller Group’s floor plan lender, then the parties may separately schedule those
vehicles, the Purchaser will buy them but not pay for them, and, if such vehicles are funded by the Seller Group’s floor plan lender,
then the Seller Parties shall notify the Purchaser and the Purchaser shall promptly pay the Seller Group’s floor plan lender such
amounts. Any other payments related to such vehicles misdirected by any Manufacturer will be redistributed as contemplated by this Section 7.21.
On a monthly basis, the Purchaser shall present the Seller Parties with a reconciliation of the amounts believed to owed by the Purchaser
or the Seller Group (if any) and, to the extent the parties agree thereupon (and in any event except if such items have been addressed
in connection with Section 2.07), the owing party shall pay any amounts owing the other party as promptly as practicable
within ten (10) business days following such agreement thereupon.

 

SECTION 7.22. PPP.
If, as of the Closing Date, any member of the Seller Group has any outstanding loan or loans issued pursuant to the Small Business Administration’s
Paycheck Protection Program (“PPP”) that would be an Assumed Liability, the balance for which has not been paid to
the PPP lender or forgiven pursuant to the PPP, then such member of the Seller Group shall escrow any outstanding loan balance with its
respective PPP lender pursuant to SBA Notice, Control No. 5000-20057, effective October 2, 2020, and any updated guidance.

 

SECTION 7.23. Chargebacks.
Prior to the Closing, the parties shall agree on, and the applicable Selling Entities shall establish, a commercially reasonable reserve
or escrow (the “Chargeback Reserve”) (based on the actual Chargebacks over the three (3) years prior to the Closing
Date), with a third party professional administrator for Chargebacks and shall provide the Purchaser with documentation evidencing the
same.

 

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SECTION 7.24. ROFR
Exercise. The Seller Parties shall provide prompt written notice to the Purchaser upon the receipt of a ROFR Notice by any Manufacturer
(or its assignee) along with all relevant documentation received by the Seller Group related thereto.

 

SECTION 7.25.     Customer
Deposits; We Owes; Material Business Contracts.

 

(a)            No
earlier than three (3) business days prior to the Closing Date, the Selling Entities provide to the Purchaser a true, complete and
correct list of (i) all Customer Deposits, (ii) all We Owes (for
clause (ii) of such definition it will be the ending balance on such date) and (iii)
each Material Business Contract entered into after the date hereof that is still then in effect, in each case as of the business
day immediately prior to such date.

 

(b)            If
following the Closing, the Purchaser performs the obligations of a Selling Entity with respect to any We Owes pertaining to vehicles
sold or serviced by a Selling Entity prior to Closing, and the Purchaser did not receive a credit against the Closing Purchase Price,
the Seller Parties shall reimburse the Purchaser for all out of pocket costs related to the performance of such We Owes pursuant to Section 10.02(f) of
this Agreement.

 

SECTION 7.26. Capital
Improvements. No less than five (5) business days prior to the Closing Date, the Seller Parties shall deliver to the Purchaser
reasonable written evidence of the actual, out-of-pocket costs incurred by a Selling Entity to design, permit and construct each capital
improvement project set forth on Section 1.01(b) of the Disclosure Letter, including, by way of example, bills, vouchers, invoices
and receipts.

 

SECTION 7.27. Notice
of Certain Events. From the date of this Agreement until the Closing, the Seller Parties will use reasonable best efforts to promptly
provide notice to the Purchaser of any written notices received by the Seller Group described in Section 4.17(a) or
Section 4.19 that would have required disclosure thereof if received prior to the date of this Agreement.

 

ARTICLE VIII

 

Conditions to Closing

 

SECTION 8.01. Conditions
to Each Party’s Obligations to Effect the Closing. The respective obligations of each party to effect the Closing are subject
to the satisfaction or (to the extent permitted by applicable Law) waiver at the Closing of the following conditions:

 

(a)            Legal
Prohibition. No Law shall have been adopted or promulgated, or shall be in effect, and no temporary, preliminary or permanent Judgment
issued by a court or other Governmental Authority of competent jurisdiction shall be in effect, in each case having the effect of making
the Transactions illegal or otherwise prohibiting consummation of the Transactions (collectively, “Restraints”).

 

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(b)            Governmental
Approvals. The waiting period (and any extension thereof) applicable to the Transactions under the HSR Act shall have been terminated
or shall have expired.

 

SECTION 8.02. Additional
Conditions to Obligations of the Purchaser. The obligations of the Purchaser to effect the Closing are further subject to the satisfaction
or (to the extent permitted by applicable Law) waiver by the Purchaser at the Closing of the following additional conditions:

 

(a)            Representations
and Warranties of the Seller Parties. (i) The Seller Fundamental Representations shall be true and correct in all material respects,
in each case at and as of the Closing Date, as if made at and as of such date (except to the extent expressly made as of an earlier date,
in which case as of such date) and (ii) all other representations and warranties of the Seller Parties contained in Article IV
herein shall be true and correct at and as of the Closing Date, as if made at and as of such date (except to the extent expressly
made as of an earlier date, in which case as of such date), except, in the case of this clause (ii), where the failure of such representations
and warranties to be so true and correct (without giving effect to any limitation as to “materiality” or “Material
Adverse Effect” set forth therein) would not have, individually or in the aggregate, a Material Adverse Effect. The Purchaser shall
have received a certificate signed on the Seller Parties’ behalf by a duly authorized officer of the Seller Parties to such effect,
dated as of the Closing Date.

 

(b)            Performance
of Obligations. The Seller Parties shall have performed in all material respects and complied in all material respects with all agreements
and covenants required to be performed or complied with by them under this Agreement at or prior to the Closing. The Purchaser shall
have received a certificate signed on the Seller Parties’ behalf by a duly authorized officer of the Seller Parties to such effect,
dated as of the Closing Date.

 

(c)            No
Material Adverse Effect. Since the date of this Agreement, there shall not have occurred any Material Adverse Effect.

 

(d)            SEC
Monitor. The SEC Monitor’s approval of the transactions contemplated by this Agreement shall have been received and not have
been revoked.

 

SECTION 8.03. Additional
Conditions to Obligations of the Seller Parties. The obligations of the Seller Parties to effect the Closing are further subject
to the satisfaction or (to the extent permitted by applicable Law) waiver by the Seller Parties at the Closing of the following additional
conditions:

 

(a)            Representations
and Warranties of the Purchaser. (i) The Purchaser Fundamental Representations shall be true and correct in all material respects,
in each case at and as of the Closing Date, as if made at and as of such date (except to the extent expressly made as of an earlier date,
in which case as of such date) and (ii) all other representations and warranties of the Purchaser contained in Article V
herein shall be true and correct at and as of the Closing Date, as if made at and as of such date (except to the extent expressly
made as of an earlier date, in which case as of such date), except, in the case of this clause (ii), where the failure of such representations
and warranties to be so true and correct (without giving effect to any limitation as to “materiality” or “prevent or
materially delay, interfere with, hinder or impair” set forth therein) would not, individually or in the aggregate, prevent or
materially delay, interfere with, hinder or impair (A) the consummation of any of the Transactions or (B) the compliance by
the Purchaser with its obligations under this Agreement. The Seller Parties shall have received a certificate signed on the Purchaser’s
behalf by a duly authorized officer of the Purchaser to such effect, dated as of the Closing Date.

 

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(b)            Performance
of Obligations of the Purchaser. The Purchaser shall have performed in all material respects and complied in all material respects
with all agreements and covenants required to be performed or complied with by it under this Agreement at or prior to the Closing. The
Seller Parties shall have received a certificate signed on the Purchaser’s behalf by a duly authorized officer of the Purchaser
to such effect, dated as of the Closing Date.

 

SECTION 8.04. Frustration
of Closing Conditions. Neither the Purchaser, on the one hand, nor the Seller Parties, on the other hand, may rely on the failure
of any condition set forth in this Article VIII to be satisfied if such failure was caused by such Person’s failure
to use the efforts to cause the Closing to occur as required in this Agreement, including as required by Section 7.01.

 

ARTICLE IX

 

Termination

 

SECTION 9.01. Termination.
This Agreement may be terminated at any time prior to the Closing (and may not be terminated after the Closing including with respect
to any Delayed Closing):

 

(a)            by
mutual written consent of the Seller Parties and the Purchaser;

 

(b)            by
the Seller Parties, on the one hand, or the Purchaser, on the other hand by written notice to the other:

 

(i)                if
the Closing shall not have occurred on or before the date that is 180 days after the date of this Agreement (the “Termination
Date”); provided that the right to terminate this Agreement under this Section 9.01(b)(i) shall not
be available to any party whose breach of any material covenant or obligation under this Agreement has been the primary cause of the
failure of the Closing to occur on or before the Termination Date; or

 

(ii)               if
any Restraint permanently preventing the consummation of the Transactions shall have become final and nonappealable; provided
that the right to terminate this Agreement under this Section 9.01(b)(ii) shall not be available to any party whose
breach of any material covenant or obligation under this Agreement has been the primary cause of the issuance of such Restraint;

 

(c)            by
the Purchaser, if the Seller Parties shall have breached any of their representations and warranties contained in Article IV
or failed to perform any of their covenants or agreements set forth in this Agreement, which breach or failure to perform would give
rise to the failure of a condition contained in Section 8.02(a) or 8.02(b) and has not been or is incapable
of being cured prior to the earlier of (i) the Termination Date and (ii) the date that is thirty (30) days following
receipt by the Seller Parties of written notice of such breach or failure to perform from the Purchaser stating the Purchaser’s
intention to terminate this Agreement pursuant to this Section 9.01(c) and the basis for such termination; provided
that the Purchaser shall not have the right to terminate this Agreement pursuant to this Section 9.01(c) if the
Purchaser is then in breach of any of its representations, warranties, covenants or agreements hereunder such that such breach would
give rise to the failure of a condition set forth in Section 8.03(a) or 8.03(b); or

 

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(d)            by
the Seller Parties, if the Purchaser shall have breached any of its representations and warranties in Article V or failed
to perform any of its covenants or agreements set forth in this Agreement, which breach or failure to perform would give rise to the
failure of a condition contained in Section 8.03(a) or 8.03(b) and has not been or is incapable of being
cured prior to the earlier of (i) Termination Date and (ii) the date that is thirty (30) days following receipt by the Purchaser
of written notice of such breach or failure to perform from the Seller Parties stating the Seller Parties’ intention to terminate
this Agreement pursuant to this Section 9.01(d) and the basis for such termination; provided that the Seller
Parties shall not have the right to terminate this Agreement pursuant to this Section 9.01(d) if the Seller Parties
are then in breach of any of their representations, warranties, covenants or agreements hereunder such that such breach would give rise
to the failure of a condition set forth in Section 8.02(a) or 8.02(b).

 

The party terminating this Agreement pursuant
to this Section 9.01 shall give written notice of such termination to the other party or parties in accordance with Section 11.01,
specifying the provision of this Agreement pursuant to which such termination is effected and the basis for such termination, described
in reasonable detail.

 

SECTION 9.02. Effect
of Termination. In the event of termination of this Agreement by either the Seller Parties or the Purchaser as provided in Section 9.01
then this Agreement shall forthwith become void and have no effect, without any Liability or obligation on the part of any party,
their Affiliates or their respective Representatives, other than the first sentence of Section 7.03(i), the Purchaser’s
obligations under Section 7.03(h), Section 7.18(g), this Section 9.02 and Article XI
and the Confidentiality Agreement, all of which shall survive such termination in accordance with their terms; provided that such
termination shall not relieve any party from any Liability to the other party or parties from (A) an intentional breach of any covenant
or agreement set forth in this Agreement by such first party or parties or (B) Fraud by such first party or parties.

 

ARTICLE X

 

Indemnification

 

SECTION 10.01. Survival.
The representations and warranties in this Agreement (including in the certificates contemplated in Section 8.02 and Section 8.03)
shall survive until the twenty-four (24) month anniversary of the Closing Date. Any claims with respect to any Excluded Liability and
any claims pursuant to Section 10.02(d) will survive until the twenty-four (24) month anniversary of the Closing Date.
Any claims pursuant to Section 10.02(e), Section 10.02(f) and Section 10.02(g) shall survive
until the twenty-four (24) month anniversary of the Closing Date. The Seller Parties’ covenants and agreements in this Agreement
shall survive until the twenty-four (24) month anniversary of the Closing
Date. Any claims made against the Holdback Amount (or portion thereof) shall survive until the resolution of such claim in accordance
with Section 2.09. After the Closing, no party may bring any Action seeking to rescind the Transactions or this Agreement
for any reason or upon any basis whatsoever; provided, however that this provision shall in no way limit any of the other
rights and remedies of a party either under this Agreement or as otherwise provided by law.

 

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SECTION 10.02. Indemnification
by the Selling Entities. Subject to the provisions of this Article X, from and after the Closing, the Seller Parties
shall, and shall cause the Selling Entities to, jointly and severally, indemnify, defend and hold harmless the Purchaser and each of
its Affiliates and their respective Representatives (collectively, the “Purchaser Indemnitees”) from and against any
and all Losses which such Purchaser Indemnitee may suffer or incur, to the extent arising out of or resulting from any of the following:

 

(a)            any
inaccuracy in or breach of any representation or warranty of a Seller Party contained in this Agreement;

 

(b)            any
of the Excluded Liabilities;

 

(c)            any
breach of any covenant or agreement of the Seller Parties hereunder;

 

(d)            any
Transferred Pre-Closing Contractual Liabilities, to the extent not included in the calculation of the Final Purchase Price;

 

(e)            any
Excess COBRA Liabilities;

 

(f)            Liabilities
(1) in respect of Chargebacks, to the extent they exceed the amount set aside in the Chargeback Reserve and (2) in respect
of We Owes and Customer Deposits, to the extent they exceed the amounts included in Closing Current Assets; and

 

(g)            fines,
penalties and other monetary sanctions imposed by a Governmental Authority following the Closing and arising from violations of or liability
under Environmental Laws to the extent arising from events or occurrences in connection with or relating to the Business or any operation
thereof or any Purchased Assets prior to the date of this Agreement.

 

Notwithstanding that a claim for Losses may fall
into multiple categories of this Section 10.02, a Purchaser Indemnitee may recover for the same Losses one time only.

 

SECTION 10.03. Indemnification
by the Purchaser. Subject to the provisions of this Article X, from and after the Closing, the Purchaser shall indemnify,
defend and hold harmless the Seller Parties and each of their respective Affiliates and their respective Representatives (collectively,
the “Seller Indemnitees”) from and against any and all Losses which such Seller Indemnitee may suffer or incur, to
the extent arising out of or resulting from any of the following:

 

(a)            any
of the Assumed Liabilities other than Transferred Pre-Closing Contractual Liabilities or Excess COBRA Liabilities;

 

(b)            any
claims or Liabilities arising out of or related to the Purchaser’s ability or inability to obtain Consents under, or new or replacement
agreements for, Manufacturer Agreements in connection with the Transactions; including as contemplated by Section 2.04(b);
provided, however, that nothing herein obligates the Purchaser to indemnify Seller Indemnitees with respect to actions
or inactions of the Seller Group with respect to Manufacturer Agreements prior to date of this Agreement; and

 

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(c)            any
breach of any covenant or agreement of the Purchaser hereunder.

 

Notwithstanding that a claim for Losses may fall
into multiple categories of this Section 10.03, a Seller Indemnitee may recover for the same Losses one time only.

 

SECTION 10.04. Indemnification Procedures.

 

(a)            Procedures
Relating to Indemnification of Third Party Claims.

 

(i)                If
any Person that may be entitled to indemnification under this Article X (the “Indemnified Party”) receives
written notice of the commencement of any Action or the assertion of any claim by a third party or the imposition of any penalty or assessment
for which indemnity may be sought under Section 10.02 or Section 10.03, as applicable (a “Third Party
Claim”), and such Indemnified Party intends to seek indemnification pursuant to this Article X, the Indemnified
Party shall promptly provide the other party (or parties) (the “Indemnifying Party”) with written notice of such Third
Party Claim, stating in reasonable detail the facts and circumstances with respect to the subject matter of such Third Party Claims (including
the nature, basis and the amount thereof), in each case to the extent known, along with copies of the relevant documents evidencing such
Third Party Claim and the basis for indemnification sought; provided, that failure of the Indemnified Party to give such notice
will not relieve the Indemnifying Party from Liability in respect of its indemnification obligation, except if and to the extent that
the Indemnifying Party is materially prejudiced thereby. Upon receipt of a notice of a Third Party Claim from an Indemnified Party, the
Indemnifying Party shall have the right, by giving written notice to the Indemnified Party within thirty (30) days from receipt of such
notice, to assume the defense and control of the Indemnified Party against the Third Party Claim with counsel selected by the Indemnifying
Party.

 

(ii)               So
long as the Indemnifying Party has assumed the defense and control of the Third Party Claim in accordance herewith, (A) the Indemnified
Party may retain separate counsel at its sole cost and expense (except as contemplated by the following sentence) and may have a reasonable
opportunity to participate in the defense of the Third Party Claim (subject to the Indemnifying Party’s right to control such defense),
(B) the Indemnified Party shall not consent to the entry of any Judgment
or enter into any settlement or compromise with respect to the Third Party Claim without the prior written consent of the Indemnifying
Party and (C) the Indemnifying Party shall not consent to the entry of any Judgment or enter into any settlement or compromise with
respect to any Third Party Claim without the prior written consent of the Indemnified Party (which consent shall not be unreasonably
withheld, conditioned or delayed), other than, in the cause of this clause (ii), a compromise, Judgment or settlement that (1) provides
for solely monetary damages for which the Indemnified Party is fully indemnified hereunder, (2) does not involve any finding or
admission of violation of Law or admission of wrongdoing by the Indemnified Party and (3) provides an unconditional release of,
or dismissal with prejudice of, all claims against any Indemnified Party potentially affected by such Third Party Claim. In the event
that the Indemnified Party and the Indemnifying Party reasonably agree that a conflict of interest exists in respect of a Third Party
Claim, then the Indemnified Party shall have the right to retain separate counsel selected by the Indemnified Party and reasonably satisfactory
to the Indemnifying Party to represent the Indemnified Party in the defense of the Third Party Claim, and the reasonable legal fees and
expenses of the Indemnified Party shall be paid by the Indemnifying Party.

 

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(iii)              Notwithstanding
the foregoing in this Section 10.04, the Indemnifying Party shall not be entitled to assume the defense of any Third Party
Claim without the prior written consent of the Indemnified Party if the Third Party Claim (A) seeks an injunction or other equitable
relief or relief other than monetary damages against the Indemnified Party or (B) seeks a finding or admission of a violation of
Law (including any Third Party Claim seeking to impose criminal fines, penalties or sanctions) against the Indemnified Party. If the
Indemnifying Party does not assume (or is not entitled to assume) the defense and control of any Third Party Claim pursuant to this Section 10.04,
the Indemnified Party shall be entitled to assume and control such defense, but the Indemnifying Party may nonetheless participate in
the defense of such Third Party Claim with its own counsel and at its own expense.

 

(iv)             Each
party shall use commercially reasonable efforts to mitigate Losses from Third Party Claims and shall act in good faith in responding
to, defending against, settling or otherwise dealing with such claims. The parties hereto shall also cooperate in any such defense and
give each other reasonable access to all information relevant thereto, including those employees necessary to assist in the investigation,
defense and resolution of the Third Party Claim, subject, where deemed reasonably necessary by the disclosing party, to the entry into
customary joint defense agreements and similar arrangements to protect information subject to attorney work product protection, attorney
client privilege or other established legal privilege. Whether or not the Indemnifying Party has assumed the defense and control of such
Third Party Claim, the Indemnifying Party shall not be obligated to indemnify the Indemnified Party hereunder for any settlement or compromise
entered into or any Judgment that was consented to by the Indemnified Party without the Indemnifying Party’s prior written consent.

 

(b)            Notice
of Non-Third Party Claims. The Indemnified Party shall notify the Indemnifying Party in writing promptly of its discovery of any
matter that does not involve a Third Party Claim that the Indemnifying Party has determined has given or would reasonably be expected
to give rise to the claim of indemnification pursuant to this Agreement, describing in reasonable detail, to the extent known by the
Indemnifying Party, the facts and circumstances with respect to the subject matter of such claim; provided, that the failure so
to notify the Indemnifying Party shall not relieve the Indemnifying Party from Liability in respect of its indemnification obligation,
except if and to the extent that the Indemnifying Party is materially prejudiced thereby. Each party shall use commercially reasonable
efforts to mitigate Losses from such claims.

 

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SECTION 10.05. Calculation
of Indemnity Payments. The amount of any Loss for which indemnification is provided under this Article X shall be net
of any amounts actually recovered by the Indemnified Party under insurance policies (other than self-insurance programs) with respect
to such Loss (net of the deductible for such policies, costs of enforcement and reasonable associated costs and expenses). Except as
otherwise provided in this Article X, in any case where the Indemnified Party subsequently recovers from third parties any
amount in respect of a matter with respect to which an Indemnifying Party has indemnified it pursuant to this Article X,
such Indemnified Party shall promptly pay over to the Indemnifying Party the lesser of (x)
the amount of such proceeds, less reasonable attorneys’ fees and all reasonable out-of-pocket
costs and expenses incurred in connection with such recovery and (y) the Excess Recovery (in each case solely to avoid duplicative
recovery for the same Losses). The amount of any Loss arising out of any item included as a Closing Current Liability (as finally determined
pursuant to Section 2.07), or that is otherwise included as an adjustment to the Closing Purchase Price or Final Purchase
Price, if any, shall be calculated net of the amount so included. In no event shall any Indemnifying Party be obligated to pay for the
same Losses more than once under this Article X or otherwise, even if a claim for indemnification in respect of such Losses
has been made as a result of a breach of more than one representation, warranty, covenant or agreement in this Agreement.

 

SECTION 10.06. Environmental
Matters. With respect to the Seller Indemnifying Parties’ indemnification obligations under Section 10.02(a) (as
it relates to a breach of the representation set forth in Section 4.14), Section 10.02(b) (as it relates
to any Excluded Liabilities under Section 2.03(b)(vii)) or Section 10.02(g), the Seller Parties shall have no
obligation to indemnify the Purchaser Indemnitees for Losses to the extent such Losses arise or result from: (i) any increases in
the amount of the Losses due to an act or omission by Purchaser, its Affiliates or any of their respective Representatives; (ii) following
the Closing, any change in use of a property or the operations conducted (including as a result of the closure or sale of a facility
or business); or (iii) following the Closing, any investigation, sampling, assessment, study or remedial action undertaken to the
extent they are not required by applicable Environmental Law or the Purchaser’s secured lenders; or (iv) any disclosure or
reporting to a Governmental Authority that is not required by applicable Environmental Law unless such disclosure or reporting is consistent
with the actions of a reasonably prudent operator in the ordinary course of business. The Seller Indemnifying Parties’ obligation
to indemnify Purchaser Indemnitees for such Losses is only applicable to the extent that the least restrictive remediation standard (taking
into consideration the use of the property as of the Closing Date and any requirement to obtain the written approval of the applicable
landowner of any Transferred Leased Real Property), including the use of engineering or institutional controls, applicable to the property
and consistent under Environmental Law are used. For avoidance of doubt, this Section 10.06 is not applicable to, and shall
have no effect on, any of the provisions under Section 7.03, including without limitation, with respect to any Material Environmental
Defects. If the Selling Entities incur costs under Section 7.03(c), Section 7.03(d) or to the Purchaser
under Section 10.02(a) (as it relates to a breach of the representation set forth in Section 4.14), Section 10.02(b) (as
it relates to any Excluded Liabilities under Section 2.03(b)(vii) or Section 10.02(g), to the extent such
costs are a consequence of or any third party’s actions, or are the liability or responsibility of any third party (including but
not limited to any third party landlord with respect to any Transferred Leased Real Property or an owner of adjacent property), the Selling
Entities shall be subrogated to the Purchaser’s respective rights of recovery against any such third party based upon, arising
out of or relating to any costs or liabilities any of the Selling Entities are required to incur as set forth above. The Purchaser shall,
and to the extent reasonably possible shall cause their respective Affiliates to, at the Selling Parties’ sole cost and expense,
execute all papers required and take all steps reasonable, necessary or advisable to enable the Selling Entities to secure, exercise
and further the subrogation rights, directly or in the name of the Purchaser. In no event shall the Purchaser waive, or to the extent
reasonably possible permit their respective Affiliates to waive, any rights that would reasonably be expected to adversely affect any
such subrogation or assignment rights without the prior written consent of the Seller Parties (such consent not to be unreasonably withheld).
The Purchaser shall take commercially reasonable steps to preserve any indemnification or other rights against any third person for any
such costs and liabilities and preserve the Selling Entities’ subrogation rights with respect thereto.

 

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SECTION 10.07. Additional
Matters. In no event shall an Indemnifying Party be liable for (i) any Losses reflected or reserved for in the Financial Statements
or (ii) special, punitive, exemplary, incidental, consequential or indirect damages, or lost profits, whether based on contract,
tort, strict liability, other Law or otherwise, except, in the case of this clause (ii), (A)
Losses arising from a breach of confidentiality under Section 7.03(i) or (B) to
the extent that such damages are actually payable by the Indemnified Party in connection with a Third Party Claim, provided that,
for the avoidance of doubt, the limitation in this sentence shall not apply to limit the payment obligations of the parties with respect
to Taxes provided for in Section 7.11 (except for the amount of any Taxes taken into account in the computation of Closing
Current Liabilities pursuant to Section 2.01(b)). For purposes of the calculation of Losses pursuant to this Agreement and
for purposes of determining whether or not a representation or warranty was breached or inaccurate, all materiality and Material Adverse
Effect qualifiers will be disregarded such that each representation or warranty shall be deemed to be made or given without any such
materiality or Material Adverse Effect qualifications; provided, that other than for any Loss arising from any inaccuracy in or
breach of the Seller Fundamental Representations or the representations and warranties set forth in Section 4.11, (1) no
indemnifiable Loss will be deemed to exist for any claim (or series of related claims) under Section 10.02(a) or for
Transferred Pre-Closing Contractual Liabilities described on Section 1.01(g) of the Disclosure Letter until the amount of such
indemnifiable Loss (excluding attorney’s and other professional fees and expenses of the Indemnified Party incurred in connection
with investigating or making such claim under this Agreement) exceeds $50,000 and (2) no Seller Parties or Selling Entities (the
 “Seller Indemnifying Parties”) shall be required to indemnify any Purchaser Indemnitees under Section 10.02(a) unless
the aggregate amount of all Losses incurred by the Purchaser Indemnitees thereunder exceeds $5,000,000, and in such case the Seller Indemnifying
Parties will only be required to indemnify the Purchaser Indemnitees for such Losses in excess of $5,000,000. The maximum aggregate amount
of Losses for which the Seller Indemnifying Parties will be obligated to indemnify the Purchaser Indemnitees under Section 10.02(a),
Section 10.02(e), Section 10.02(f) and Section 10.02(g) shall be the amount then-remaining
in the Escrow Account in accordance with Section 2.09 and otherwise subject to the terms of this Agreement. The maximum aggregate
amount of Losses for which the Seller Indemnifying Parties will be obligated to indemnify the Purchaser Indemnitees for Transferred Pre-Closing
Contractual Liabilities described on Section 1.01(g) of the Disclosure Letter shall be the amount then-remaining in the Escrow
Account in accordance with Section 2.09 and otherwise subject to the terms of this Agreement. Unless otherwise provided in
this Agreement and subject to all applicable limitations on indemnification under this Agreement, any indemnifiable Losses payable to
a Purchaser Indemnitee under this Article X may be satisfied from the Escrow Account or from the Seller Parties. In respect
of any indemnifiable matter under this Article X, the Indemnified Party shall use reasonable efforts to mitigate Losses.

 

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SECTION 10.08. Adjustment
to Purchase Price. Any payment under this Article X shall be treated as an adjustment to the Closing Purchase Price for
all applicable Tax purposes, except as otherwise required pursuant to a final “determination” (within the meaning
of Section 1313(a) of the Code) or similar determination under applicable state, local or non-U.S. Tax Law.

 

SECTION 10.09. Order of Recourse;
Sole and Exclusive Remedy.

 

(a)             If
any Purchaser Indemnitee actually receives such insurance proceeds prior to being indemnified with respect to such Losses under this
Agreement, the payment under this Agreement with respect to such Losses shall take into account the amount of such insurance proceeds,
less reasonable attorneys’ fees and all reasonable out-of-pocket costs and expenses incurred in connection with such recovery.
If any Purchaser Indemnitee actually receives such insurance proceeds or indemnity or contribution payments after being indemnified with
respect to such Losses such that such Purchaser Indemnitee (after taking into account reasonable attorneys’ fees and all reasonable
out-of-pocket costs and expenses incurred in connection with such recovery) actually receives an amount in connection therewith in excess
of its related Losses (the “Excess Recovery”), the Purchaser shall pay to the applicable Seller Party or Affiliate
designated by the Seller Parties the lesser of (x) the amount of such insurance proceeds, less reasonable attorneys’ fees
and all reasonable out-of-pocket costs and expenses incurred in connection with such recovery and (y) the Excess Recovery.

 

(b)            Notwithstanding
anything to the contrary contained in this Agreement or any Transaction Document, the Purchaser (i) acknowledges that the Selling
Entities (and certain other members of the Seller Group) intend to liquidate, wind up their remaining operations and/or dissolve following
the Closing Date (but no sooner than 24 months following the Closing Date) and (ii) hereby agrees that nothing in this Agreement
or any Transaction Document shall prevent such actions and the members of the Seller Group shall be released from any post-Closing obligations
as of immediately prior to such liquidation, winding up and/or dissolutions (except any pending claims against the Escrow Account); provided,
that the Seller Parties that have any obligations under this Agreement or any Transaction Document shall not be so released until twenty-four
(24) months following the Closing Date. The Seller Parties and the Purchaser acknowledge and agree that, following the Closing, except
for claims based on Fraud, claims of either party pursuant to Section 2.09, and claims of Seller Indemnitees pursuant to
Section 7.03(h), Section 7.13 and Section 7.18(g), and except as may be otherwise expressly agreed
in a Transaction Document, the Seller Parties’ and the Purchaser’s (and each of their respective Affiliates’) sole
and exclusive remedy with respect to any and all claims for monetary relief in respect of Losses (including claims for breach of contract,
warranty, tortious conduct (including negligence) or otherwise and whether predicated on common law, statute, strict liability or otherwise)
that such party (or its Affiliates) may from time to time suffer of incur, or become subject to, as a result of or in connection with
or relating to this Agreement, the Transactions, the Business, the Transferred Interests, the Purchased Assets, the Excluded Assets,
the Assumed Liabilities or the Excluded Liabilities shall be pursuant to the provisions set forth in this Article X.

 

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ARTICLE XI

 

Miscellaneous

 

SECTION 11.01. Notices.
All notices, requests, claims, demands and other communications under this Agreement shall be in writing and shall be delivered by hand
or sent, postage prepaid, by registered, certified or express mail or overnight courier service and shall be deemed given when so delivered
by hand, or if mailed, three (3) calendar days after mailing (or one (1) business day in the case of express mail or overnight
courier service), as follows (or at such other address for a party as shall be specified by like notice):

 

If to the Purchaser:

 

	 	Group 1 Automotive, Inc.
	 	800 Gessner, Suite 500
	 	Houston, Texas 77024
	 	Attention:	General Counsel

 

with a copy to (such copy not to constitute
notice):

 

	 	Vinson & Elkins LLP
	 	1001 Fannin, Suite 2500
	 	Houston, Texas 77002
	 	Attention:	Gillian Hobson
	 	E-mail:	ghobson@velaw.com

 

If to
the Seller Parties:

 

	 	c/o Highline Management Inc.
	 	535 W 24th Street, 6th Floor
	 	New York, NY 10011
	 	Attention:	General Counsel

 

with a copy to (such copy not to constitute notice):

 

	 	Skadden, Arps, Slate, Meagher & Flom LLP
	 	155 N. Wacker Drive
	 	Chicago, IL 60606
	 	Attention:	Howard L. Ellin
	 	 	Kimberly A. deBeers

		E-mail:	howard.ellin@skadden.com 
	 	 	kimberly.debeers@skadden.com

 

	 	Akerman LLP
	 	98 Southeast Seventh Street, Suite 1100
	 	Miami, FL 33131
	 	Attention:	Jonathan L. Awner
	 	E-mail:	jonathan.awner@akerman.com

 

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SECTION 11.02. Amendment.
This Agreement may not be amended except by an instrument in writing signed by each of the parties hereto.

 

SECTION 11.03. Extension;
Waiver. At any time prior to the Closing Date, the parties may (a) extend the time for the performance of any of the obligations
or other acts of the other parties, (b) waive any inaccuracies in the representations and warranties contained in this Agreement
or in any document delivered pursuant to this Agreement or (c) waive compliance with any of the agreements or conditions contained
in this Agreement. Any agreement on the part of a party to any such extension or waiver shall be valid only if set forth in an instrument
in writing signed on behalf of such party. The failure of any party to this Agreement to assert any of its rights under this Agreement
or otherwise shall not constitute a waiver of such rights.

 

SECTION 11.04. Severability.
If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule or Law, or public
policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect. Upon such determination
that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith
to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner to the end
that the Transactions are fulfilled to the extent permitted by applicable Law.

 

SECTION 11.05. Counterparts.
This Agreement may be executed in two or more counterparts (including by digital or other electronic means), and delivered by e-mail
or facsimile, all of which shall be considered one and the same agreement and shall become effective when two or more counterparts have
been signed by each of the parties and delivered to the other parties. Any copy of this Agreement made by reliable means (e.g.,
photocopy or facsimile) is considered an original.

 

SECTION 11.06. Entire
Agreement; Third-Party Beneficiaries. This Agreement, together with the other Transaction Documents and the Confidentiality Agreement,
(a) constitutes the entire agreement, and supersedes all prior agreements and understandings, both written and oral, among the parties
with respect to the Transactions and (b) except for this Section 11.06 and as provided in this clause (b), is not intended
to confer upon any Person other than the parties any rights or remedies, it being understood that (i) the Persons released pursuant
to Section 11.10 shall have the right to enforce their respective rights under Section 11.10, (ii) from
and after the Closing, the Purchaser Indemnitees and the Seller Indemnitees shall be third-party beneficiaries of Article X
and each shall have the right to enforce their respective rights thereunder, and (iii) the Existing Counsel is a third-party beneficiary
of Section 11.11 and shall have the right to enforce its rights thereunder; provided, that Section 11.10
is intended for the benefit of and is enforceable by the Financing Sources, provided that in each case such party will be subject to
all the limitations and procedures of this Agreement as if it were a party hereunder. For the avoidance of doubt, the Financing Sources
shall be deemed third party beneficiaries of the provisions set forth in Section 11.10, each of which shall be enforceable
by each Financing Source and none of which shall be amended or otherwise modified in any way that adversely affects the rights of any
Financing Source without the prior written consent of the Financing Sources.

 

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SECTION 11.07. Governing
Law. Subject to Section 11.10, this Agreement, and all matters, claims or causes of action (whether at law, in equity,
in Contract, in tort or otherwise) based upon, arising out of or relating to this Agreement or the negotiation, execution or performance
of this Agreement, shall be governed by, and construed in accordance with, the laws of the State of Delaware, regardless of the laws
that might otherwise govern under applicable principles of conflicts of laws thereof.

 

SECTION 11.08. Assignment.
Neither this Agreement nor any of the rights, interests or obligations under this Agreement shall be assigned, in whole or in part, by
operation of Law or otherwise by any of the parties without the prior written consent of the other parties; provided that (1) within
ten (10) business days following the date of this Agreement, the Purchaser may designate by written notice to the Seller Parties
and (2) thereafter prior to, and in any event at least thirty (30) days in advance of, the Closing, the Purchaser may designate,
with the written consent of the Seller Parties (not to be unreasonably withheld), in each case, one or more wholly owned Subsidiaries
to, at the Closing, (i) acquire all or part of the Purchased Assets or Transferred Interests, (ii) assume all or part of the
Assumed Liabilities, as the case may be, in which event all references herein to the Purchaser will be deemed to refer to such Affiliates,
as appropriate; provided, however, that no such designation will in any event limit or affect the obligations of the Purchaser
under this Agreement to the extent not performed by such Affiliates. Any purported assignment without such consent shall be null and
void. This Agreement will be binding upon, inure to the benefit of, and be enforceable by, the parties and their respective successors
and permitted assigns.

 

SECTION 11.09. Enforcement;
Jurisdiction; Consent to Service of Process; Waiver of Jury Trial.

 

(a)            The
parties agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed in accordance
with their specific terms or were otherwise breached. It is accordingly agreed that the parties shall be entitled to seek an injunction
or injunctions, specific performance or other equitable relief to prevent breaches or threatened breaches of this Agreement and to enforce
specifically the terms and provisions of this Agreement, without proof of damages or otherwise, this being in addition to any other remedy
to which they are entitled at law or in equity. The right of specific enforcement is an integral part of the Transactions and without
that right, neither the Seller Parties nor the Purchaser would have entered into this Agreement. Each party agrees that it will not oppose
the granting of an injunction, specific performance and other equitable relief on the basis that the other party has an adequate remedy
at law or an award of specific performance is not an appropriate remedy for any reason at law or in equity. The parties hereto acknowledge
and agree that any party seeking an injunction or injunctions to prevent breaches or threatened breaches of this Agreement and to enforce
specifically the terms and provisions of this Agreement in accordance with this Section 11.09 shall not be required to provide
any bond or other security in connection with any such order or injunction, and the party opposing such injunction or injunctions hereby
agrees that it shall not contest the amount or absence of any such bond or other security requested or offered by the party seeking such
injunction or injunctions. If, prior to the Termination Date, any party hereto brings any Action, in each case, in accordance with this
Section 11.09, to enforce specifically the performance of the terms and provisions hereof by any other party, the Termination
Date shall automatically be extended by such time period as established by the court presiding over such Action. Upon any Action between
or among the parties to enforce any provisions or rights hereunder, the predominately non-prevailing party shall pay to the predominately
prevailing party therein all costs and expenses of such party (and any of such party’s agents, such as attorneys or accountants)
expressly including, but not limited to, reasonable attorneys’ fees and court costs incurred therein by such successful party,
which costs, expenses and attorneys’ fees will be included in and as a part of any judgment rendered in such litigation.

 

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(b)            Each
of the parties hereto (i) consents to submit itself to the personal jurisdiction of the Court of Chancery of the State of Delaware
and any state or federal court within the State of Delaware in the event any dispute arises out of this Agreement or the Transactions,
(ii) agrees that it will not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any
such court, (iii) agrees that it will not bring any Action relating to this Agreement or the Transactions in any court other than
the Court of Chancery of the State of Delaware, or, if (and only if) such court finds it lacks subject matter jurisdiction, the federal
court of the United States sitting in the State of Delaware, and the appellate courts thereof, (iv) UNCONDITIONALLY AND IRREVOCABLY
WAIVES ANY RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY ACTION RELATED TO OR ARISING OUT OF THIS AGREEMENT OR THE TRANSACTIONS, (v) waives
the defense of an inconvenient forum to the maintenance of any Action related to or arising out of this Agreement or the Transactions
and (vi) consents to service of process being made through the notice
procedures set forth in Section 11.01. The consents to jurisdiction set forth in this paragraph shall not constitute general
consents to service of process in the State of Delaware. The parties hereto agree that a final Judgment in any such Action shall be conclusive
and may be enforced in other jurisdictions by suit on the Judgment or in any other manner provided by applicable Law.

 

SECTION 11.10. No Recourse Against
Nonparty Affiliates.

 

(a)             Claims,
causes of action or Liabilities (whether in Contract or in tort, in law or in equity, or granted by statute) that may be based upon,
in respect of, arise under, out or by reason of, be connected with, or relate in any manner to this Agreement or any other Transaction
Document, or the negotiation, execution, or performance of this Agreement or any other Transaction Document (including any representation
or warranty made in, in connection with, or as an inducement to, this Agreement or any other Transaction Document), may be made only
against (and are those solely of) the entities that are expressly identified as parties in the Preamble to this Agreement or in the applicable
Transaction Document (“Contracting Parties”), and then only with respect to the specific obligations set forth herein
(with respect to the parties identified in the Preamble to this Agreement) or therein (with respect to the parties to such Transaction
Document). No Person who is not a Contracting Party, including any director, manager, officer, employee, incorporator, member, limited
or general partner, unitholder, stockholder, affiliate, agent, attorney, or Representative of, and any financial advisor or lender to,
any Contracting Party (“Nonparty Affiliates”), shall have any Liability (whether in Contract or in tort, in law or
in equity, or granted by statute) for any claims, causes of action or Liabilities arising under, out of, in connection with, or related
in any manner to this Agreement or such other Transaction Document, as applicable, or based on, in respect of, or by reason of this Agreement
or such other Transaction Document, as applicable, or its negotiation, execution, performance, or breach; and, to the maximum extent
permitted by applicable Law, each Contracting Party hereby waives and releases all such claims, causes of action and Liabilities against
any such Nonparty Affiliates. Without limiting the foregoing, to the maximum extent permitted by applicable Law, (i) each Contracting
Party hereby waives and releases any and all rights, claims, demands or causes of action that may otherwise be available in law or in
equity, or granted by statute, to avoid or disregard the entity form of a Contracting Party or otherwise impose Liability of a Contracting
Party on any Nonparty Affiliate, whether granted by statute or based on theories of equity, agency, control, instrumentality, alter ego,
domination, sham, single business enterprise, piercing the veil, unfairness, undercapitalization, or otherwise and (ii) each Contracting
Party disclaims any reliance upon any Nonparty Affiliates with respect to the performance of this Agreement or any other Transaction
Document or any representation or warranty made in, in connection with, or as an inducement to this Agreement or any other Transaction
Document. No Seller Party, nor any of its Affiliates or their respective officers, employees or Representatives, (A) will have any
rights or claims against any Financing Source (solely in their respective capacities as Financing Sources) in connection with this Agreement
or any other Transaction Document or otherwise in respect of the Transactions, including any commitments by the Financing Sources in
respect of financing the transactions contemplated by this Agreement, (B) will seek to enforce this Agreement against any Financing
Source (solely in their respective capacities as Financing Sources) or (C) will bring any claim or cause of action against any Financing
Source (solely in their respective capacities as Financing Sources) under this Agreement or any other Transaction Document or otherwise
in respect of the Transactions, including any commitments by the Financing Sources in respect of financing the transactions contemplated
by this Agreement. In addition, in no event will any Financing Source (solely in their respective capacities as Financing Sources) be
liable for consequential, special, exemplary, punitive or indirect damages (including any loss of profits, business or anticipated savings)
or damages of a tortious nature in connection with this Agreement or any other Transaction Document or otherwise in respect of the Transactions,
including any commitments by the Financing Sources in respect of financing the transactions contemplated by this Agreement.

 

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(b)            Notwithstanding
anything herein to the contrary, to the extent the provisions of Section 11.10(a) are determined by a court of competent
jurisdiction to not be enforceable, the parties hereto acknowledge and irrevocably agree (i) that any proceeding, whether involving
claims in law or in equity, whether in contract or in tort or otherwise, involving the Financing Sources arising out of, or relating
to, the transactions contemplated by this Agreement and the Transaction Documents, the Debt Financing or the performance of services
thereunder or related thereto shall be subject to the exclusive jurisdiction of any state or federal court sitting in the Borough of
Manhattan, New York, New York, and any appellate court thereof and each party hereto submits for itself and its property with respect
to any such proceeding to the exclusive jurisdiction of such court, (ii) not to bring or permit any of their controlled Affiliates
to bring or support anyone else in bringing any such proceeding in any other court, (iii) that service of process, summons, notice
or document by registered mail addressed to them at their respective addresses provided in Section 11.01 shall be effective
service of process against them for any such proceeding brought in any such court, (iv) to waive and hereby waive, to the fullest
extent permitted by applicable legal requirements, any objection which any of them may now or hereafter have to the laying of venue of,
and the defense of an inconvenient forum to the maintenance of, any such proceeding in any such court, (v) to waive and hereby waive
any right to trial by jury in respect of any such proceeding, (vi) that a final judgment in any such proceeding shall be conclusive
and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by applicable legal requirements,
and (vii) that any such proceedings shall be governed by, and construed in accordance with, the laws of the State of New York without
regard to the conflicts of law rules of such State that would result in the application of the laws of any other State.

 

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SECTION 11.11. Legal Representation.

 

(a)             Each
of the parties to this Agreement acknowledges and agrees that Skadden, Arps, Slate, Meagher & Flom LLP and Akerman LLP (collectively,
 “Existing Counsel”) has acted as counsel for an Affiliate of the Seller Parties and may have acted as counsel for
Seller Parties (including the Transferred Entities) in connection with this Agreement and the Transactions (the “Acquisition
Engagement”).

 

(b)            Each
of the parties to this Agreement acknowledges and agrees that all confidential communications between a member of the Seller Group or
any of their respective Affiliates (including the Transferred Entities), on the one hand, and any Existing Counsel or internal counsel
of the Seller Group or any of its Affiliates, on the other hand, in the course of the Acquisition Engagement, and any attendant attorney-client
privilege, attorney work product protection, and expectation of client confidentiality applicable thereto, shall be deemed to belong
solely to the Seller Parties and their retained Affiliates, and shall not pass to or be claimed, held, or used by the Purchaser or any
of its Affiliates (including the Transferred Entities) upon or after the Closing. Accordingly, the Purchaser shall not have access to
any such communications, or to the files of any Existing Counsel or such internal counsel relating to the Acquisition Engagement, whether
or not the Closing occurs. Without limiting the generality of the foregoing, upon and after the Closing, (i) to the extent that
files of any Existing Counsel or such internal counsel in respect of the Acquisition Engagement constitute property of the client, only
the Seller Parties and their respective Affiliates shall hold such property rights, and (ii) Existing Counsel shall have no duty
whatsoever to reveal or disclose any such attorney-client communications or files to the Purchaser or any of its Affiliates or any Transferred
Entity by reason of any attorney-client relationship between Existing Counsel and the Transferred Entities or otherwise. If and to the
extent that, at any time subsequent to Closing, the Purchaser or any of its Affiliates shall have the right to assert or waive any attorney-client
privilege with respect to any communication between a member of the Seller Group or its Affiliates and Existing Counsel or such internal
counsel that occurred at any time prior to the Closing, the Purchaser, on behalf of itself and its Affiliates and the Transferred Entities
shall be entitled to waive such privilege only with the prior written consent of the Seller Parties.

 

(c)             Each
of the parties to this Agreement acknowledges and agrees that any Existing Counsel may represent or continue to represent the Seller
Parties or any of their respective Affiliates in future matters. Accordingly, the Purchaser, on behalf of itself and its Affiliates expressly:
(i) consents to each Existing Counsel’s representation of the Sellers and any of their respective Affiliates in any matter,
including any post-Closing matter in which the interests of the Purchaser or any of its Affiliates (including the Transferred Entities),
on the one hand, and the Seller Parties or any of their respective Affiliates, on the other hand, are adverse, including any matter relating
to the Transactions, and whether or not such matter is one in which Existing Counsel may have previously advised the Seller Parties or
any of its Affiliates; and (ii) consents to the disclosure by each Existing Counsel to the Seller Parties or any of their respective
Affiliates of any information learned by such Existing Counsel in the course of its representation of the Seller Parties or any of their
respective Affiliates, whether or not such information is subject to attorney-client privilege, attorney work product protection, or
such Existing Counsel’s duty of confidentiality.

 

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(d)            The
Purchaser, on behalf of itself and its Affiliates, further covenants and agrees that each shall not assert any claim, and that it hereby
waives any claim, against any Existing Counsel in respect of legal services provided to or on behalf of the Business or the Transferred
Entities by such Existing Counsel in connection with the Acquisition Engagement.

 

(e)             The
Transferred Entities and the Purchaser and its Affiliates that acquire the Purchased Assets shall not have any attorney-client relationship
with any Existing Counsel from and after the Closing, unless and to the extent such Existing Counsel is specifically engaged in writing
by the Purchaser or the Transferred Entities to represent such entity after the Closing. Any such representation by such Existing Counsel
after the Closing shall not affect the foregoing provisions hereof.

 

(f)             The
Purchaser and the Seller Parties consent to the arrangements in this Section 11.11 and agree to take, and to cause their
respective controlled Affiliates to take, all steps necessary to implement the intent of this Section 11.11 and not to take
or cause their respective controlled Affiliates to take positions contrary to the intent of this Section 11.11. The Purchaser
and the Seller Parties further agree that each Existing Counsel is a third-party beneficiary of this Section 11.11.

 

SECTION 11.12. Schedules.
All Schedules attached hereto are incorporated herein and expressly made a part of this Agreement as though completely set forth herein.
All references to this Agreement herein or in any of the Schedules shall be deemed to refer to this entire Agreement, including all Schedules
and Exhibits. The disclosure of an item in one schedule shall be deemed to disclose an exception to another representation or warranty
in this Agreement if it is reasonably apparent on its face that the disclosure would apply to such representation and warranty. Neither
the specification of any dollar amount in any representation or warranty contained in this Agreement, nor the inclusion of any specific
item in a Schedule is intended to imply that such amount, or any higher or lower amount, or the item so included or other items, are
or are not material, and no party shall use the fact of the setting forth of any such amount or the inclusion of any such item in any
dispute or controversy between the parties as to whether any obligation, item or matter not included in a Schedule is or is not material
for purposes of the Agreement.

 

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

 

	 	GROUP 1 AUTOMOTIVE, INC.
	 	 
	 	By	 
	 	 	Name:	Daniel J. McHenry
	 	 	Title:	Chief Financial Officer
	 	 
	 	 
	 	GPB PORTFOLIO AUTOMOTIVE, LLC
	 	 
	 	By	/s/ Wesley Pandoff
	 	 	Name:	Wesley Pandoff
	 	 	Title:	Chief Financial Officer
	 	 
	 	 
	 	CAPSTONE AUTOMOTIVE GROUP, LLC
	 	 
	 	By	/s/ Wesley Pandoff
	 	 	Name:	Wesley Pandoff
	 	 	Title:	Chief Financial Officer
	 	 
	 	 
	 	CAPSTONE AUTOMOTIVE GROUP II, LLC
	 	 
	 	By	/s/ Wesley Pandoff
	 	 	Name:	Wesley Pandoff
	 	 	Title:	Chief Financial Officer
	 	 
	 	 
	 	AUTOMILE PARENT HOLDINGS, LLC
	 	 
	 	By	/s/ Wesley Pandoff
	 	 	Name:	Wesley Pandoff
	 	 	Title:	Chief Financial Officer

 

[Signature Page to
Purchase Agreement]

 

    

    

    

 

	 	AUTOMILE TY HOLDINGS, LLC
	 	 
	 	By	/s/ Wesley Pandoff
	 	 	Name:	Wesley Pandoff
	 	 	Title:	Chief Financial Officer
	 	 
	 	PRIME REAL ESTATE HOLDINGS, LLC
	 	 
	 	By	/s/ Robert Chmiel
	 	 	Name:	Robert Chmiel
	 	 	Title:	Chief Executive Officer

 

[Signature Page to
Purchase Agreement]

 

    

    

    

 

Exhibit A

 

Fixed Assets

 

The purchase price for Fixed Assets will be an
amount equal to the depreciated net book value of the Fixed Assets as set forth on the applicable balance sheet of a Selling Entity after
being entered on the original in service date (i.e., the date purchased by Seller or, if purchased used, the date purchased by the original
owner) as of the month end immediately preceding the Closing Date, plus the depreciated net book value of any such assets purchased after
the date of the balance sheet. The vehicles used in the operation of the Business (other than New Vehicles, Used Vehicles, Demonstrator
Vehicles and Loaner Vehicles) or titled in the name of a Selling Entity will be valued as if they were Used Vehicles.

 

New Vehicles

 

Each New Vehicle will have a purchase price in
an amount equal to the actual net cost to the Selling Entities of each New Vehicle, as reflected on the Manufacturer’s original
invoice without interest or finance cost; plus the Selling Entities’ actual, direct out-of-pocket cost of dealer- installed
optional parts and accessories installed upon New Vehicles (excluding labor, rust- proofing, undercoating, nitrogen, scotch guarding,
and non-Manufacturer alarm systems, theft protection devices and GPS devices); less the cost of any accessories, equipment or
parts missing from any New Vehicle; less all applicable dealer hold-backs, incentives (in any form, including wholesale, essential
brand element and standards for excellence programs) and rebates (including all floor plan credits, advertising consideration or other
inventory-based rebates, allowances or incentives paid or payable to the Selling Entities); less “prep” expenses
for New Vehicles which have not yet been prepared for sale; and less the cost to repair any damage and any related diminution
in value. The purchase price of New Vehicles with more than 500 miles but less than 5,000 miles will be reduced by $0.25 per mile. New
Vehicles with 5,000 or more miles or damage required by applicable Law to be disclosed to consumers, will be valued as a Used Vehicle
(described below).

 

Used Vehicles

 

Each Used Vehicle will have a purchase price
in an amount per the following: Prior to the Closing Date, the Seller Parties will determine the transactional MMR Value (defined below)
for every Used Vehicle in the Selling Entities’ inventory as of such date and will provide the Purchaser a list of Used Vehicles
for which the transactional MMR Value (https://publish.manheim.com/en/help/mmr.html) was determined (the “Used Vehicle Schedule”).

 

“MMR Value” means the average
value (with seasonal adjustment) for a used vehicle in the most recent Manheim Market Report National Database, then decreased by the
value of any standard options on the Used Vehicle that are not present.

 

The parties will mutually agree no later than
three (3) business days prior to Closing on the methodology for handling market condition, equipment,
and vehicle history adjustments for Used Vehicles. The Purchaser shall purchase each Used Vehicle on the Used Vehicle Schedule
for the transactional MMR Value at the Closing unless the Selling Entities shall have sold such Used Vehicle before Closing.

 

    

    

    

 

The Purchaser will purchase all Used Vehicles
that the Selling Entities acquire as trade-ins after the Used Vehicle Schedule is developed for the values calculated as provided above.

 

The Selling Entities may sell any Used Vehicle
on the Used Vehicle Schedule or acquired after such Used Vehicle Schedule was developed at such price and on such terms as the Selling
Entities shall determine in their sole and absolute discretion at any time before Closing.

 

The Seller Parties, on the one hand, and the
Purchaser, on the other hand, shall each be responsible for fifty percent (50%) of all amounts payable to MMR for obtaining the transactional
MMR Value.

 

Demonstrator Vehicles

 

Each Demonstrator Vehicle will have a purchase
price equal to the purchase price that would be assigned to such vehicle if it were a New Vehicle, less any credits specific to demonstrator
vehicles, less $0.25 per mile in excess of 500 miles, reflected on such Demonstrator Vehicle’s odometer as of the Closing.

 

Loaner Vehicles

 

The purchase price for Loaner Vehicles will be
determined by the rules governing the Manufacturer program and State licensing requirements at each franchise location.

 

(a)  Where
applicable, Purchaser shall be obligated to assume and acquire the Selling Entities’ leases and lease carry balances under existing
Manufacturer-mandated service loaner lease programs for vehicles that are enrolled in the program on the Closing Date. Purchaser shall
be entitled to be paid all money and other discounts received or receivable under any Manufacturer programs with respect to the Loaner
Vehicles acquired by Purchaser.

 

(b)  Titled
and registered Loaner Vehicles (hard plated) will be the payoff price pursuant to any Manufacturer program (e.g., TRAC).

 

(c)  Untitled
Loaner Vehicles will be priced as New Vehicles. Purchaser shall be entitled to be paid all money and other discounts received or receivable
under any Manufacturer programs with respect to the Loaner Vehicles acquired by Purchaser.

 

(d)  Any
Loaner Vehicle enrolled in a Manufacturer program but in violation of age or mileage limits of said program will be priced as a Used
Vehicle.

 

    

    

    

 

Parts and Accessories

 

Manufacturer Parts and Accessories

 

Manufacturer Parts and Accessories will be classified
as “returnable” or “non-returnable.” The terms “returnable parts” and “returnable accessories”
means only those new undamaged replacement parts and new undamaged accessories for Manufacturer vehicles which are listed (coded) in
the latest current Master Parts Price List Suggested List Prices and Dealer Prices (or other applicable similar Manufacturer price lists,
with supplements or the equivalent in effect as of the applicable date, the “Master Price List”), as returnable to
the Manufacturer at not less than the purchase price reflected in the Master Price List and are within the limits of returnable parts
established by the Manufacturer from time to time.

 

Returnable.
The purchase price for all of the Selling Entities’ Manufacturer “OEM” returnable parts and returnable accessories
with sales in the twelve (12) months prior to the Closing Date for an amount equal to the price listed in the Master Price List (less
all applicable rebates and discounts).

 

Nonreturnable.
The purchase price for all of the Selling Entities’ non-returnable parts useable on Manufacturer vehicles will be an amount equal
to twenty-five percent of the price listed in the Master Price List (less all applicable rebates and discounts). The purchase price for
obsolete parts or accessories will be mutually agreed to by the parties no later than ten (10) days prior to the Closing Date.

 

Non-Manufacturer Parts and Accessories

 

The purchase price for Non-Manufacturer Parts
and Accessories useable on Manufacturer vehicles shall be an amount equal to the Selling Entities’ actual cost less all applicable
allowances and discounts paid or payable to the Selling Entities.

 

Upon Closing, to the extent allowed by the applicable
Manufacturer, the Selling Entities will be deemed to have automatically assigned, and shall assign, to the Purchaser all of the Selling
Entities’ parts return rights without any further action. If any parts and accessories or other inventories or goods that the Purchaser
is not obligated to purchase hereunder are not removed from the Real Property within ten (10) days after the Closing Date, such
property will automatically become Purchased Assets transferred to the Purchaser pursuant to the Bill of Sale and Assignment and Assumption
Agreement without additional consideration.

 

Supplies

 

All of the Dealerships’ useable miscellaneous
supply inventories, including but not limited to batteries, nuts, bolts, screws, gas, oil, grease, fluids, solvents, paint and body shop
materials shall be purchased at Sellers’ verifiable actual cost net of any discount received or to be received by Sellers. With
respect to non-bulk oil, grease, fluids, solvents, paint and body shop materials, the Purchaser will only be obligated to pay for any
such inventories that are in unopened containers, and if any such items are not removed from the Real Property within ten (10) days
after the Closing Date, such property will automatically become Purchased Assets transferred to the Purchaser pursuant to the Bill of
Sale and Assignment and Assumption Agreement without additional consideration.

 

    

    

    

 

Tires

 

The purchase price for all returnable and unexpired
new tires with sales in the last 12 months shall be cost net of any discount received or to be received by the Selling Entities. Tires
beyond their expiration date will be excluded from the sale. To the extent allowed by the applicable tire vendor, the Selling Entities
will be deemed to have automatically assigned, and shall assign, to the Purchaser all of the Selling Entities’ parts return rights
without any further action. Any tires that the Purchaser is not obligated to purchase hereunder which are not removed from the Real Property
within ten (10) days after the Closing Date, will automatically become Purchased Assets transferred to the Purchaser pursuant to
the Bill of Sale and Assignment and Assumption Agreement without additional consideration.

 

Work in Process

 

The purchase price for Work in Process shall
be an amount equal to the Selling Entities’ actual cost for parts, labor, and sublet repairs for any such orders.

 

Other Assets

 

The purchase price for other assets shall be cost of the Selling Entities.

 

Transferred Owned Real Property

 

The purchase price for the Transferred Owned
Real Property shall be the aggregate of the amounts set forth in the Selling Entities’ fair market value appraisals of the Transferred
Owned Real Property as obtained prior to the date hereof (each, a “Seller Parties’ Appraisal”); provided, that
the Purchaser may, at its option and sole expense, obtain a fair market value appraisal of any of the Transferred Owned Real Property
within 30 days of the date hereof (a) by a third party MAI appraiser who is a member of the American Institute of Real Estate Appraisers
with experience in the appraisal of commercial real estate properties similar to the Transferred Owned Real Property in the market in
which the Transferred Owned Real Property that is the subject of such appraisal is located and is reasonably acceptable to Seller Parties,
and (b) that utilizes (i) the same valuation methodology as specifically identified in the Seller Parties’ Appraisal
for the subject Transferred Owned Real Property, or, (ii) if the valuation methodology used by the appraiser was not specifically
identified in the Seller Parties’ Appraisal for the subject Transferred Owned Real Property, a valuation methodology substantially
similar to that described in such Seller Parties’ Appraisal (including, in each case of (i) and (ii), any basis for such valuation,
e.g., highest and best use) (each, a “Purchaser Parties’ Appraisal”). If the applicable Purchaser Parties’
Appraisal for a particular Transferred Owned Real Property is no more than 110% nor less than 90% of the value shown in the Seller Parties’
Appraisal, then the average of the appraised values set forth in the Purchaser Parties’ Appraisal and the Seller Parties’
Appraisal, respectively, shall be used as the purchase price for such Transferred Owned Real Property. If such Purchaser Parties’
Appraisal is more that 110% or less than 90% of the value shown in the Seller Parties’ Appraisal, the parties shall jointly select
an independent third party appraiser (with the same qualifications described above) to perform an additional appraisal. In such case,
the third party appraiser’s valuation shall be used but may not in any event be an amount lower than the lower of the parties’
appraisals or higher than the higher of the parties’ appraisals.

 

    

    

    

 

Closing Working Capital

 

Unless otherwise specified herein, the Current
Assets and Current Liabilities shall be determined in accordance with GAAP provided that 1) any accounts receivable (other than factory/Manufacturer
receivables), existing as of the Closing Date which is proposed for inclusion as a Current Asset in the Closing Statement and in the
Closing Amounts and has been outstanding at such time for in excess of 90 days shall be valued at zero for purposes of calculating the
aggregate Current Assets in the Closing Statement and 2) any accounts receivable (other than factory/Manufacturer receivables), existing
as of the Closing Date which is proposed for inclusion as a Current Asset in the Revised Closing Statement and in the Final Closing Amounts
and has been outstanding at such time for in excess of 90 days shall be valued at zero for purposes of calculating the aggregate Current
Assets in the Revised Closing Statement.

 

    

    

    

 

Exhibit B

 

FORM OF BILL
OF SALE, ASSIGNMENT & ASSUMPTION

 

This Bill of Sale Assignment and Assumption Agreement
(this “Bill of Sale”), dated as of [●], 2021 (the “Effective Date”), is by
and among Group 1 Automotive, Inc., a Delaware corporation (the “Purchaser”) and each of the entities
set forth on Annex A hereto under the heading “Selling Entities” (each, a “Selling Entity” and
together the “Selling Entities”).

 

RECITALS

 

WHEREAS,
the Purchaser and GPB Portfolio Automotive, LLC, a Delaware limited liability company, Capstone Automotive Group, LLC, a Delaware
limited liability company, Capstone Automotive Group II, LLC, a Delaware limited liability company, Automile Parent Holdings, LLC, a
Delaware limited liability company, and Automile TY Holdings, LLC, a Delaware limited liability company (each, a “Seller”
and collectively, the “Sellers”), and Prime Real Estate Holdings, LLC, a Delaware limited liability company
(the “Real Estate Equity Seller” and together with the Sellers, the “Seller Parties”)
have entered into that certain Purchase Agreement, dated as of September 12, 2021, pertaining to, among other things, the sale of
certain assets owned by Selling Entities (as amended, supplemented or modified from time to time, the “Purchase Agreement”),
pursuant to which, on the terms and subject to the conditions set forth in the Purchase Agreement, (a) the Selling Entities shall
sell, transfer, assign and deliver to the Purchaser, and Purchaser shall purchase, acquire, assume and accept from each Selling Entities,
all of such Selling Entity’s right, title and interests in, to and under the Purchased Assets (as defined in the Purchase Agreement),
and (b) Purchaser shall assume all the Assumed Liabilities (as defined in the Purchase Agreement); and

 

WHEREAS,
the parties desire to enter into this Bill of Sale in connection with the consummation of the transactions contemplated by
the Purchase Agreement.

 

NOW,
THEREFORE, in consideration of the premises and the mutual agreements and covenants set forth in the Purchase Agreement and
hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
Purchaser and the Selling Entities hereby agree as follows:

 

	1.	Definitions.
                                            Capitalized terms which are used but not otherwise defined in this Bill of Sale shall have
                                            the meaning ascribed to such terms in the Purchase Agreement.

 

	2.	Sale, assignment and transfer.

 

As of the Effective Date,
each Selling Entity hereby sells, assigns, transfers, conveys and delivers to Purchaser all of such Selling Entity’s right, title
and interests in, to or under the Purchased Assets (other than the Transferred Intellectual Property, which shall be conveyed pursuant
to an Intellectual Property Assignment) unto Purchaser, free and clear of any Liens other than Permitted Liens. No right, title or interest
in the Purchased Assets is reserved to, or retained by, any Selling Entity. Notwithstanding anything to the contrary in this Bill of
Sale, nothing in this Bill of Sale, the Purchaser is not purchasing, and no Selling Entities are selling, assigning, transferring, conveying
or delivering, pursuant to this Assignment, any of the Selling Entities’ (or any of their respective Affiliates’) right,
title or interest in any asset that is not a Purchased Asset.

 

    

    

    

 

		3.	Assumption.

 

In consideration of the sale, assignment, transfer,
conveyance, and delivery to the Purchaser of all of the Selling Entities’ right, title and interests in, to and under the Purchased
Assets as described in Section 1 above, the Seller Group hereby assign, and Purchaser hereby assumes, the Assumed Liabilities. Each
member of the Seller Group shall retain all Excluded Liabilities. Purchaser is not assuming any liabilities or obligations of the Seller
Group under this Bill of Sale except as expressly stated in the Purchase Agreement as an Assumed Liability.

 

		4.	No Third-Party Beneficiaries.

 

This Bill of Sale is for the sole benefit of
the parties hereto and nothing herein, express or implied, is intended to or shall confer upon any other Person any legal or equitable
right, benefit or remedy of any nature whatsoever under or by reason of this Bill of Sale, except such rights as shall inure to a successor
or assignee hereof.

 

		5.	Miscellaneous.

 

		(a)	Purchase
                                            Agreement Terms. Nothing in this Bill of Sale modifies, expands or limits the terms of the
                                            Purchase Agreement. Conflicts between the terms and conditions of this Bill of Sale and the
                                            terms and conditions of the Purchase Agreement will be resolved in favor of the Purchase
                                            Agreement.
	 	 	 

		(b)	Binding
                                            Effect. This Bill of Sale will be binding upon, and will inure to the benefit of, the parties
                                            hereto and their respective successors and assigns.
	 	 	 

		(c)	Applicable
                                            Law. THIS BILL OF SALE AND THE RIGHTS OF THE PARTIES HEREUNDER SHALL BE INTERPRETED AND CONSTRUED
                                            IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, REGARDLESS OF THE LAWS THAT MIGHT OTHERWISE
                                            GOVERN UNDER APPLICABLE PRINCIPLES OF CONFLICTS OF LAWS THEREOF.
	 	 	 

		(d)	Amendment
                                            or Modification. This Bill of Sale may not be amended except by an instrument in writing
                                            signed by each of the parties hereto.
	 	 	 

		(e)	Interpretation.
                                            If any term or other provision of this Bill of Sale is invalid, illegal or incapable of being
                                            enforced by any rule or Law, or public policy, all other conditions and provisions of
                                            this Bill of Sale shall nevertheless remain in full force and effect. Upon such determination
                                            that any term or other provision is invalid, illegal or incapable of being enforced, the
                                            parties hereto shall negotiate in good faith to modify this Bill of Sale so as to effect
                                            the original intent of the parties as closely as possible in an acceptable manner to the
                                            end that the transactions herein are fulfilled to the extent permitted by applicable Law.
	 	 	 

		(f)	Counterparts.
                                            This Bill of Sale may be executed in two or more counterparts (including by digital or other
                                            electronic means), and delivered by e-mail or facsimile, all of which shall be considered
                                            one and the same agreement and shall become effective when two or more counterparts have
                                            been signed by each of the parties and delivered to the other parties. Any copy of this Bill
                                            of Sale made by reliable means (e.g., photocopy or facsimile) is considered an original.

 

[Signature pages follow]

 

    2

    

    

 

IN WITNESS WHEREOF, undersigned executed
and delivered this Bill of Sale as of [●], 2021.

 

	SELLER PARTIES:	[To come]

 

[Signature Page to
the Bill of Sale, Assignment & Assumption]

 

    

    

    

 

	PURCHASER:	GROUP
                                            1 AUTOMOTIVE, INC.

 

		By:	
	 	 	Printed Name:
	 	 	Title:

 

[Signature Page to
the Bill of Sale, Assignment & Assumption]

 

    

    

    

 

Exhibit C

 

FORM OF ASSIGNMENT AGREEMENT FOR TRANSFERRED
INTERESTS

 

[            ]

 

THIS
ASSIGNMENT AGREEMENT FOR TRANSFERRED INTERESTS (this “Assignment”)
is made and entered into as of                       ,
2021 (the “Effective Date”) by and between Prime Real Estate Holdings, LLC, a Delaware limited liability company (“Assignor”)
in favor of Group 1 Automotive, Inc., a Delaware corporation (“Assignee”).

 

WHEREAS, Assignor and Assignee
are parties to that certain Purchase Agreement (the “Purchase Agreement”), dated September 12, 2021, by and among
Assignee, GPB Portfolio Automotive, LLC, Capstone Automotive Group, LLC, Capstone Automotive Group II, LLC, Automile Parent Holdings,
LLC, and Automile TY Holdings, LLC and Assignor;

 

WHEREAS,
Assignor is the sole member of, and owns one hundred percent (100%) of the membership interests (the “Membership Interests”)
in, [               ]
(the “Company”);

 

WHEREAS, Assignor desires
to transfer all of its right, title and interest in and to the Membership Interests to Assignee and Assignee desires to approve and accept
such assignment; and

 

WHEREAS, capitalized terms
which are used but not otherwise defined in this Assignment shall have the meaning ascribed to such terms in the Purchase Agreement.

 

NOW, THEREFORE, in consideration
of the performance of the obligations of Assignor and Assignee in the Purchase Agreement, and for other good and valuable consideration
including the obligations herein, the receipt and sufficiency of which are hereby acknowledged, Assignor and Assignee agree as follows:

 

1.            Assignment.
Assignor hereby sells, conveys, assigns and transfers all of its right, title and interest in and to the Membership Interests as of the
Effective Date, to have and to hold such Membership Interests unto Assignee, and the legal representatives, successors and assigns of
Assignee, forever. From and after the Effective Date, Assignor shall not retain any ownership interest in the Company or any assets of
the Company.

 

2.            Substitution
as Member. This Assignment is intended to, and shall constitute, the conveyance of all right, title and interest of Assignor in the
Company and upon execution and delivery of this Assignment, Assignor shall have withdrawn as a member of the Company and Assignee shall
thereafter be admitted as a substituted member of the Company, as the sole member thereof for all purposes.

 

3.            Assumption
of Membership Interests. As of the Effective Date, Assignee hereby approves and accepts the Membership Interests and agrees to continue
as a member of the Company and assume all obligations with respect to the Interests.

 

4.            Benefit
and Burden. All terms of this Assignment shall be binding upon, and inure to the benefit of, the parties hereto and their respective
successors and assigns.

 

    

    

    

 

5.            Governing
Law. This Assignment shall be construed in accordance with, and be governed by, the laws of the State of Delaware, regardless of
the laws that might otherwise govern under applicable principles of conflicts of laws thereof.

 

6.            Severability.
If any term or other provision of this Assignment is invalid, illegal or incapable of being enforced by any rule or Law, or public
policy, all other conditions and provisions of this Assignment shall nevertheless remain in full force and effect. Upon such determination
that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith
to modify this Assignment so as to effect the original intent of the parties as closely as possible in an acceptable manner to the end
that the transactions herein are fulfilled to the extent permitted by applicable Law.

 

7.            Counterparts.
This Assignment may be executed in two or more counterparts (including by digital or other electronic means), and delivered by e-mail
or facsimile, all of which shall be considered one and the same agreement and shall become effective when two or more counterparts have
been signed by each of the parties and delivered to the other parties. Any copy of this Assignment made by reliable means (e.g., photocopy
or facsimile) is considered an original.

 

8.            Conflicts.
This Assignment is delivered pursuant to the terms of the Purchase Agreement and subject to the terms thereof. Conflicts between the
terms and conditions of this Assignment and the terms and conditions of the Purchase Agreement will be resolved in favor of the Purchase
Agreement.

 

9.            Amendment.
This Assignment may not be amended except by an instrument in writing signed by each of the parties hereto.

 

[SIGNATURE PAGE FOLLOWS]

 

    2

    

    

 

IN WITNESS WHEREOF, Assignor
and Assignee caused this Assignment to be duly executed as of the date first above written.

 

	 	“ASSIGNOR”
	 	 	 
	 	PRIME REAL ESTATE HOLDINGS, LLC,
	 	A Delaware limited liability company
	 	 
		By:	
	 	 	Name:
	 	 	Title:

 

[Signature Page to
Assignment of Membership Interests]

 

    

    

    

 

	 	“ASSIGNEE”
	 	 
	 	GROUP 1 AUTOMOTIVE, INC.,
	 	a Delaware corporation
	 	 
		By:	                        
	 	 	Name:
	 	 	Title:

 

[Signature Page to
Assignment of Membership Interests]

 

    

    

    

 

Exhibit D

 

INTELLECTUAL PROPERTY
ASSIGNMENT

 

This INTELLECTUAL PROPERTY
ASSIGNMENT (this “Assignment”), effective as of [●], 2021 (the “Effective Date”), is by and
between [●], a [jurisdiction] [entity type] (“[●]”), and [●], a [jurisdiction] [entity
type] (“[●]”, and with [●], each, an “Assignor” and collectively, “Assignors”),
and Group 1 Automotive, Inc., a Delaware corporation (“Assignee”) (together with Assignors, each a “Party”
and, collectively, the “Parties”). All capitalized terms used, but not otherwise defined herein, shall have the respective
meanings ascribed to such terms in the Purchase Agreement (defined herein below).

 

WHEREAS, [●] and Assignee
are parties to that certain Purchase Agreement, dated September 12, 2021 (the “Purchase Agreement”), pursuant
to which Assignors desire to sell, transfer, assign and deliver to Assignee, and Assignee desires to purchase, acquire, assume and accept
from Assignors all of their respective right, title and interest in and to all of the Transferred Intellectual Property, including the
(i) Trademark applications and/or registrations set forth on Schedule A hereto, and (ii) domain names set forth on Schedule
B hereto.

 

NOW, THEREFORE, for good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows:

 

1.            Each
Assignor (on behalf of itself and its Affiliates) does hereby sell, transfer, assign, convey and deliver to Assignee all of their respective
right, title and interest in and to the Transferred Intellectual Property, together the right to all past, present and future income,
royalties, damages and payments due with respect to the foregoing and all rights of action, both at law and in equity with respect thereto,
including all rights to sue, settle any claims, and collect all damages for any past, present, or future infringement or misappropriation
of the Transferred Intellectual Property, including the goodwill of the businesses connected to the use of any of the Transferred Intellectual
Property, the same to be held and enjoyed by the Assignee, its successors and assigns forever.

 

2.            Assignee
shall have the right to record this Assignment with all applicable Governmental Authorities, domain name registrars and other applicable
entities so as to perfect its ownership of the Transferred Intellectual Property.

 

3.            Nothing
contained in this Assignment is intended to or shall be deemed to modify, alter, amend or otherwise change any of the rights or obligations
of the Parties and their respective Affiliates under the Purchase Agreement. The representations, warranties, covenants, agreements,
and indemnities contained in the Purchase Agreement shall not be superseded hereby but shall remain in full force and effect to the full
extent provided therein, where applicable. The Parties agree that, in the event of any discrepancy or inconsistency, the terms of the
Purchase Agreement shall prevail over the terms of this Assignment, or any document entered into pursuant to this Assignment.

 

    

    

    

 

4.            This
Assignment may be executed in two or more counterparts (including by digital or other electronic means), and delivered by e-mail or facsimile,
all of which shall be considered one and the same agreement and shall become effective when two or more counterparts have been signed
by each of the parties and delivered to the other parties. Any copy of this Assignment made by reliable means (e.g., photocopy or facsimile)
is considered an original.

 

5.            This
Assignment, and all matters, claims or causes of action (whether at law, in equity, in Contract, in tort or otherwise) based upon, arising
out of or relating to this Assignment or the negotiation, execution or performance of this Assignment, shall be governed by, and construed
in accordance with, the laws of the State of Delaware, regardless of the laws that might otherwise govern under applicable principles
of conflicts of laws thereof.

 

6.            Neither
this Assignment nor any of the rights, interests or obligations under this Assignment shall be assigned, in whole or in part, by operation
of Law or otherwise by any of the Parties without the prior written consent of the other Parties. Any purported assignment without such
consent shall be null and void. This Assignment will be binding upon, inure to the benefit of, and be enforceable by, the parties and
their respective successors and permitted assigns.

 

[Signature Page Follows]

 

    2

    

    

 

IN WITNESS WHEREOF, the undersigned have caused
this Assignment to be executed as of the date above first written.

 

	 	ASSIGNORS:
	 	 
	 	[●]
	 	 
	 	By:	 
	 	Name:
	 	Title:
	 	 
	 	 
	 	[●]
	 	 
	 	By:	                  
	 	Name:
	 	Title:

 

[Signature
Page To Intellectual Property
Assignment]

 

    

    

    

 

	 	ASSIGNEE:
	 	 
	 	GROUP 1 AUTOMOTIVE, INC.
	 	 
	 	 
	 	By:	                            
	 	Name:
	 	Title:

 

[Signature
Page To Intellectual Property
Assignment]

 

    

    

    

 

Schedule A

Trademark Registrations and Trademark Applications

 

    

    

    

 

Schedule B

Domain Names

 

    

    

    

 

Exhibit E

 

	ALLOCATION
    OF PURCHASE PRICE
	AMONG CONVEYED ASSETS UNDER
	I.R.C. SECTION 1060

 

	Class I	Cash and Cash Equivalents	 	$	-	 
	Class II	Actively-traded personal property, certificates of deposit
    and foreign currency	 	$	-	 
	Class III	Accounts receivable, mortgage and credit card receivables	 	$	-	 
	Class IV	Stock in trade, inventory and property held primarily for
    sale to customers	 	$	-	 
	Class V	All assets not in classes, I, II, III, IV,
    VI and VII	 	$	-	 
	Class VI	Section 197 intangibles other than goodwill and going
    concern value	 	$	-	 
	Class VII	Intangible assets in the nature of goodwill
    and going concern value	 	$	-	 
	Total of Classes, I, II, III, IV,
    V, VI, and VII	 	$	-	 

 

	1.	Date of Sale:

 

	2. 	Did the purchase
    and seller provide for an allocation of the sales price in the sales contract or in another written document signed by both parties?

 

	 	                  Yes	 	                  No	 

 

If
yes, are the aggregate fair market values listed for each of asset Classes, I, II, III, IV, V, VI, and VII the amounts
agree upon in the sales contract or in a separate written document?

 

	 	                  Yes	 	                  No	 

 

	3.	In
                                            the purchase of the group of assets (or stock), did the purchaser also purchase a license
                                            or a covenant not to complete, or enter into a lease agreement, employment contract, management
                                            contract, or similar arrangement with the seller (or managers, directors, owners or employees
                                            of the seller)?

 

	 	                  Yes	 	                  No	 

 

	 	If
                                            "yes," specify (a) type of agreement and (b) maximum amount of consideration
                                            (not including interest) paid or to be paid under agreement. Attach separate sheet detailing
                                            the above.

 

Under
the penalties of perjury, the undersigned parties to this Agreement certify that the information provided on this form, to the best of
our knowledge and belief, is true, correct and complete.

 

	PURCHASER:	 	SELLER:
	 	 	 
	Taxpayer ID No.	 	Taxpayer ID No.
	 	 	 
	 	 	 
	By:	                  	 	By:	                
	Buyer	 	Seller

 

    

    

    

 

	 	Exhibit F

 

Execution Version

 

	 	 	 
	WELLS FARGO
    BANK, NATIONAL ASSOCIATION
	1525 West
    W.T. Harris Blvd
	Charlotte,
    NC 28262

 

CONFIDENTIAL

 

September 12, 2021

 

Group 1 Automotive, Inc.

800 Gessner, Suite 500

Houston, TX 77024

Attention: Mr. Daniel
McHenry

 

		Re:	Project Rare Commitment
                                            Letter
	 	 	$250.0 Million Senior Unsecured Credit Facility

 

Ladies and Gentlemen:

 

You have advised
Wells Fargo Bank, National Association (“Wells Fargo Bank” or the “Commitment Party”) that Group
1 Automotive, Inc. (the “Borrower” or “you”) seeks financing to (a) fund a portion of
the purchase price for the proposed acquisition (the “Acquisition”) of certain assets (the “Acquired Assets”)
from GPB Portfolio Automotive, LLC, Capstone Automotive Group, LLC, Capstone Automotive Group II, LLC, Automile Parent Holdings, LLC,
Automile TY Holdings, LLC and Prime Real Estate Holdings, LLC (collectively, the “Seller”) pursuant to that certain
Purchase Agreement by and among the Borrower and the Seller (the “Acquisition Agreement”), dated as of the date hereof
and (b) pay fees, commissions and expenses in connection with the Transactions (as defined below), as more fully described in the
Summary of Proposed Terms and Conditions attached hereto as Annex A (the “Term Sheet”). This Commitment Letter
(as defined below) describes the general terms and conditions for a senior unsecured term loan facility of up to $250.0 million (the
 “Senior Credit Facility”).

 

As used herein, the
term “Transactions” means, collectively, the Acquisition, the borrowing under the Senior Credit Facility on the Closing
Date and the payment of fees, commissions and expenses in connection with each of the foregoing. This letter, including the Term Sheet
and the Conditions Annex attached hereto as Annex B (the “Conditions Annex”), is hereinafter referred to as
the “Commitment Letter”. The date on which the Senior Credit Facility is closed is referred to as the “Closing
Date”.

 

1.            Commitment.
Upon the terms and subject to the conditions set forth in this Commitment Letter and in the Fee Letter (as defined below), Wells Fargo
Bank is pleased to advise you of its commitment to provide to the Borrower 100% of the principal amount of the Senior Credit Facility
(the “Commitment”).

 

2.            Conditions
to Commitment. The Commitment and the undertakings of the Commitment Party hereunder are subject solely to the satisfaction of the
conditions precedent set forth in the Term Sheet under the heading “Conditions to Closing and Initial Extensions of Credit”
and in the Conditions Annex.

 

Notwithstanding anything
in this Commitment Letter, the Fee Letter or the Financing Documentation (as defined in the Term Sheet) or any other letter agreement
or other undertaking concerning the financing of the Transactions to the contrary, (a) the only representations and warranties relating
to the Borrower and its subsidiaries and its businesses the accuracy of which shall be a condition to the availability of the Senior
Credit Facility on the Closing Date shall be (i) such of the representations made by the Seller or its subsidiaries or affiliates
with respect to the Acquired Assets in the Acquisition Agreement as are material to the interests of the Commitment Party (in their capacity
as such) (the “Specified Acquisition Agreement Representations”), but only to the extent that you or your affiliates
have the right to terminate your or their respective obligations under the Acquisition Agreement or otherwise decline to close the Acquisition
as a result of a breach of any such Specified Acquisition Agreement Representations or any such Specified Acquisition Agreement Representations
not being accurate (in each case, determined without regard to any notice requirement) and (ii) the Specified Representations (as
defined below) and (b) the terms of the Financing Documentation shall be in a form such that they do not impair the availability
of the Senior Credit Facility on the Closing Date if the conditions set forth in or referred to in this Commitment Letter are satisfied.
For purposes hereof, “Specified Representations” means the representations and warranties set forth in the Term Sheet
relating to corporate existence of the Credit Parties and good standing of the Credit Parties in their respective jurisdictions of organization;
power and authority, due authorization, execution and delivery and enforceability, in each case, relating to the Credit Parties entering
into and performance of the Financing Documentation; no conflicts with or consents under the Credit Parties’ organizational documents;
solvency as of the Closing Date (after giving effect to the Transactions) of the Borrower and its subsidiaries on a consolidated basis;
use of proceeds; Federal Reserve margin regulations; the Investment Company Act; the PATRIOT Act; OFAC; and FCPA. This paragraph, and
the provisions herein, shall be referred to as the “Limited Conditionality Provision”.

 

    

    

    

 

3.            Information.
You represent and warrant that (i) all written information and written data (other than the Projections, as defined below, other
forward-looking information and information of a general economic or industry specific nature) concerning the Borrower and its subsidiaries,
the Acquired Assets and the Transactions that has been or will be made available to the Commitment Party by you, Seller or any of your
or their representatives, subsidiaries or affiliates (or on your or their behalf) (the “Information”), when taken
as a whole, (x) is, and in the case of Information made available after the date hereof, will be, complete and correct in all material
respects and (y) does not, and in the case of Information made available after the date hereof, will not, contain any untrue statement
of a material fact or omit to state a material fact necessary in order to make the statements contained therein, in light of the circumstances
under which they were made, not materially misleading, taken as a whole and (ii) all financial projections concerning the Borrower,
and its subsidiaries and the Acquired Assets, taking into account the consummation of the Transactions, that have been or will be made
available to the Commitment Party by you, Seller or any of your or their representatives, subsidiaries or affiliates (or on your or their
behalf) (the “Projections”) have been and will be prepared in good faith based upon assumptions believed by you or
Seller to be reasonable at the time made available to the Commitment Party, it being understood that such Projections are merely a prediction
as to future events and are not to be viewed as facts, are subject to significant uncertainties and contingencies, many of which are
beyond your control, that no assurance can be given that any particular Projections will be realized, that actual results may differ
significantly from the projected results and that such differences may be material. You agree that if, at any time prior to the Closing
Date, you become aware that any of the representations and warranties contained in the preceding sentence would be incorrect in any material
respect if the Information and Projections were being furnished, and such representations were being made, at such time, then you will
promptly supplement the Information and the Projections so that such representations are correct in all material respects under those
circumstances. Solely as they relate to matters with respect to the Acquired Assets or any Information or Projections provided by the
Seller, the foregoing representations and warranties are made to the best of your knowledge. The Commitment Party will be entitled to
use and rely upon, without responsibility to verify independently, the Information and the Projections. You acknowledge that the Commitment
Party may share with any of our affiliates (it being understood that such affiliates will be subject to the confidentiality agreements
between you and the Commitment Party), and such affiliates may share with the Commitment Party, any information related to you, the Acquired
Assets (including, without limitation, in each case, information relating to creditworthiness) and the transactions contemplated hereby.

 

    2

    

    

 

4.            Expenses.
You agree to reimburse the Commitment Party, from time to time on demand, for all reasonable and documented out-of-pocket costs and expenses
of the Commitment Party, including, without limitation, reasonable and documented out-of-pocket legal fees and expenses, due diligence
expenses and all printing, reproduction, document delivery, travel, CUSIP and communication costs, incurred in connection with the execution
of the Senior Credit Facility and the preparation, review, negotiation, execution, delivery and enforcement of this Commitment Letter,
the Fee Letter and the Financing Documentation regardless of whether the Closing Date occurs.

 

5.            Fees.
As consideration for the commitments and agreements of the Commitment Party hereunder, you agree to cause to be paid the nonrefundable
fees described in the letter dated the date hereof and delivered herewith (the “Fee Letter”) on the terms and subject
to the conditions set forth therein.

 

6.            Indemnification.
You agree to indemnify and hold harmless the Commitment Party and each of its affiliates, directors, officers, employees, partners, representatives,
advisors and agents and each of their respective successors and assigns (each, an “Indemnified Party”) from and against
any and all actions, suits, losses, claims, damages, penalties, liabilities and expenses of any kind or nature (including legal expenses),
joint or several, to which such Indemnified Party may become subject or that may be incurred or asserted or awarded against such Indemnified
Party, in each case arising out of or in connection with or by reason of (including, without limitation, in connection with any investigation,
litigation or proceeding or preparation of a defense in connection therewith) (a) any matters contemplated by this Commitment Letter,
the Transactions or any related transaction (including, without limitation, the execution and delivery of this Commitment Letter and
the Financing Documentation and the closing of the Transactions) or (b) the use or the contemplated use of the proceeds of the Senior
Credit Facility, and will reimburse each Indemnified Party for all reasonable and documented out-of-pocket expenses (including reasonable
and documented out-of-pocket attorneys’ fees, expenses and charges) on demand as they are incurred in connection with any of the
foregoing; provided that no Indemnified Party will have any right to indemnification for any of the foregoing to the extent resulting
from (i) such Indemnified Party’s own gross negligence or willful misconduct as determined by a court of competent jurisdiction
in a final non- appealable judgment, (ii) a claim brought by you against an Indemnified Party for material breach in bad faith of
the funding obligations of such Indemnified Party under this Commitment Letter as determined by a court of competent jurisdiction in
a final non-appealable judgment or (iii) any dispute solely among Indemnified Parties, other than any claims against the Commitment
Party in its respective capacity or in fulfilling its role as administrative agent under the Senior Credit Facility, and other than any
claims arising out of any act or omission on the part of you or your subsidiaries or affiliates. In the case of an investigation, litigation
or proceeding to which the indemnity in this paragraph applies, such indemnity shall be effective whether or not such investigation,
litigation or proceeding is brought by you, your equity holders or creditors or an Indemnified Party, whether or not an Indemnified Party
is otherwise a party thereto and whether or not the transactions contemplated hereby are consummated. You also agree that no Indemnified
Party will have any liability (whether direct or indirect, in contract or tort, or otherwise) to you or your affiliates or to your or
their respective equity holders or creditors arising out of, related to or in connection with any aspect of the transactions contemplated
hereby, except to the extent such liability to you is determined in a final, non-appealable judgment by a court of competent jurisdiction
to have resulted from (i) such Indemnified Party’s own gross negligence or willful misconduct or (ii) a claim brought
by you against an Indemnified Party for material breach in bad faith of the funding obligations of such Indemnified Party under this
Commitment Letter. No party hereto will be liable for any indirect, consequential, special or punitive damages in connection with this
Commitment Letter, the Fee Letter, the Financing Documentation or any other element of the Transactions. No Indemnified Party will be
liable to you, your affiliates or any other person for any damages arising from the use by others of Informational Materials or other
materials obtained by Electronic Means, except to the extent that your damages are found in a final non-appealable judgment by a court
of competent jurisdiction to have resulted from the gross negligence or willful misconduct of such Indemnified Party. You shall not,
without the prior written consent of each Indemnified Party affected thereby, settle any threatened or pending claim or action that would
give rise to the right of any Indemnified Party to claim indemnification hereunder unless such settlement (x) includes a full and
unconditional release of all liabilities arising out of such claim or action against such Indemnified Party, (y) does not include
any statement as to or an admission of fault, culpability or failure to act by or on behalf of such Indemnified Party and (z) requires
no action on the part of the Indemnified Party other than its consent.

 

    3

    

    

 

		7.	Confidentiality.

 

(a)            This
Commitment Letter and the Fee Letter (collectively, the “Commitment Documents”) and the existence and contents hereof
and thereof shall be confidential and may not be disclosed, directly or indirectly, by you in whole or in part to any person without
our prior written consent, except for (i) the disclosure of the Commitment Documents on a confidential basis to your directors,
officers, employees, accountants, attorneys and other professional advisors who have been advised of their obligation to maintain the
confidentiality of the Commitment Documents for the purpose of evaluating, negotiating or entering into the Transactions, (ii) the
disclosure of the Commitment Documents as required by law or other compulsory process (in which case, you agree, to the extent permitted
by law, to inform the Commitment Party promptly in advance thereof), (iii) the disclosure of the Commitment Documents on a confidential
basis to the board of directors, officers and advisors of the Seller in connection with its consideration of the Acquisition, (provided
that any information relating to pricing, fees and expenses has been redacted in a manner reasonably acceptable to the Commitment
Party) and (iv) the disclosure of this Commitment Letter, but not the Fee Letter, in any required filings with the Securities and
Exchange Commission and other applicable regulatory authorities and stock exchanges. In connection with any disclosure by you to any
third party as set forth above (except as set forth in clause (ii) above), you shall notify such third party of the confidential
nature of the Commitment Documents and agree to be responsible for any failure by any third party to whom you disclosed the Commitment
Documents or any portion thereof to maintain the confidentiality of the Commitment Documents or any portion thereof.

 

(b)            The
Commitment Party shall use all confidential information provided to it by or on behalf of you or your affiliates in the course of the
Transactions solely for the purposes of providing the services that are the subject of this Commitment Letter and shall treat all such
information as confidential; provided that nothing herein shall prevent the Commitment Party or its affiliates from disclosing
any such information, (i) to any prospective lenders or prospective participants (provided that any such disclosure shall
be made subject to the acknowledgment and acceptance by such prospective lender or prospective participant that such information is being
disseminated on a confidential basis (and they shall agree to be bound to substantially the same terms as are set forth in this paragraph
or as are otherwise reasonably acceptable to you and the Commitment Party in accordance with the customary market standard for dissemination
of such type of information), (ii) pursuant to the order of any court or administrative agency or in any judicial or administrative
proceeding or as otherwise required by law or compulsory legal process (in which case the Commitment Party shall use commercially reasonable
efforts to promptly notify you, in advance, to the extent practicable and permitted by law), (iii) upon the request or demand of
any regulatory authority having jurisdiction over the Commitment Party (in which case the Commitment Party shall use commercially reasonable
efforts to, except with respect to any audit or examination conducted by bank accountants or any governmental regulatory authority exercising
examination or regulatory authority, promptly notify you, in advance, to the extent practicable and permitted by law), (iv) to our
respective affiliates involved in the Transactions and their and their affiliates’ respective directors, officers, employees, accountants,
attorneys, agents and other professional advisors (collectively, “Representatives”) on a need-to-know basis who are
informed of the confidential nature of such information and are or have been advised of their obligation to keep information of this
type confidential, (v) to the extent that such information is independently developed by the Commitment Party, so long as the Commitment
Party has not otherwise breached its confidentiality obligations hereunder and has not developed such information based on information
received from a third party that to its knowledge has breached confidentiality obligations owing to you, (vii) to the extent any
such information becomes publicly available other than by reason of disclosure by the Commitment Party in breach of this provision, (vi) to
the extent that such information is received by the Commitment Party or an affiliate of the Commitment Party from a third party that
is not to its knowledge subject to confidentiality obligations to you or your affiliates, (vii) for purposes of establishing a “due
diligence” defense, (viii) in connection with the exercise of any remedies hereunder, any action or proceeding relating to
the Commitment Documents or the enforcement of rights thereunder, or (ix) with your prior written consent. The provisions of this
paragraph with respect to the Commitment Party and its affiliates shall automatically terminate on the earlier of (x) one year following
the date of this Commitment Letter and (y) the execution of the definitive documentation for the Senior Credit Facility (in which
case, the confidentiality provisions in the definitive documentation shall supersede the provisions of this paragraph). The terms of
this paragraph shall supersede all prior confidentiality or non-disclosure agreements and understandings between you and the Commitment
Party relating the Transactions.

 

    4

    

    

 

8.            PATRIOT
Act Notification. The Commitment Party hereby notifies you that pursuant to the requirements of the USA PATRIOT Act, Title III of
Pub. L. 107-56 (signed into law October 26, 2001) (the “PATRIOT Act”), the Commitment Party is required to obtain,
verify and record information that identifies you and any additional Credit Parties, which information includes your and their respective
names, addresses, tax identification numbers and other information that will allow the Commitment Party to identify you and such other
parties in accordance with the PATRIOT Act. This notice is given in accordance with the requirements of the PATRIOT Act and is effective
for the Commitment Party.

 

		9.	Other
                                            Services.

 

(a)            Nothing
contained herein shall limit or preclude the Commitment Party or any of its affiliates from carrying on any business with, providing
banking or other financial services to, or from participating in any capacity, including as an equity investor, in any party whatsoever,
including, without limitation, any competitor, supplier or customer of you, the Seller or any of your or their respective affiliates,
or any other party that may have interests different than or adverse to such parties.

 

(b)            You
acknowledge that the Commitment Party and its affiliates (the term “Commitment Party” as used in this Section being
understood to include such affiliates) (i) may be providing debt financing, equity capital or other services (including financial
advisory services) to other entities and persons with which you, the Seller or your or their respective affiliates may have conflicting
interests regarding the Transactions and otherwise, (ii) may act, without violation of its contractual obligations to you, as it
deems appropriate with respect to such other entities or persons, and (iii) have no obligation in connection with the Transactions
to use, or to furnish to you the Seller or your or their respective affiliates or subsidiaries, confidential information obtained from
other entities or persons.

 

(c)            In
connection with all aspects of the Transactions, you acknowledge and agree that: (i) the Senior Credit Facility and any related
services contemplated in this Commitment Letter constitute an arm’s-length commercial transaction between you and your affiliates,
on the one hand, and the Commitment Party, on the other hand, and you are capable of evaluating and understanding and understand and
accept the terms, risks and conditions of the Transactions, (ii) in connection with the process leading to the Transactions, the
Commitment Party is and has been acting solely as a principal and not as a financial advisor, agent or fiduciary, for you or any of your
management, affiliates, equity holders, directors, officers, employees, creditors or any other party, (iii) neither the Commitment
Party nor any affiliate thereof has assumed or will assume an advisory, agency or fiduciary responsibility in your or your affiliates’
favor with respect to any of the Transactions or the process leading thereto (irrespective of whether the Commitment Party or any of
its affiliates has advised or is currently advising you or your affiliates on other matters) and the Commitment Party does not have any
obligation to you or your affiliates with respect to the Transactions except those obligations expressly set forth in the Commitment
Documents, (iv) the Commitment Party and its affiliates may be engaged in a broad range of transactions that involve interests that
differ from yours and those of your affiliates and the Commitment Party shall not have any obligation to disclose any of such interests,
and (v) the Commitment Party has not provided any legal, accounting, regulatory or tax advice with respect to any of the Transactions
and you have consulted your own legal, accounting, regulatory and tax advisors to the extent you have deemed appropriate. You hereby
waive and release, to the fullest extent permitted by law, any claims that you may have against the Commitment Party or any of its affiliates
with respect to any breach or alleged breach of agency, fiduciary duty or conflict of interest.

 

    5

    

    

 

		10.	Acceptance/Expiration
                                            of Commitments.

 

(a)            This
Commitment Letter and the Commitment of Wells Fargo Bank set forth herein shall automatically terminate at 5:00 p.m. (Eastern Time)
on the date that is ten (10) business days following the date hereof (the “Acceptance Deadline”), without further
action or notice unless signed counterparts of this Commitment Letter and the Fee Letter shall have been delivered to the Commitment
Party by such time to the attention of Chad McNeill.

 

(b)            In
the event this Commitment Letter is accepted by you as provided above, the commitments and agreements of Wells Fargo Bank set forth herein
will automatically terminate without further action or notice upon the earliest to occur of (i) consummation of the Acquisition
(with or without the use of the Senior Credit Facility), (ii) termination of the Acquisition Agreement, (iii) the “Termination
Date” (as defined in the Acquisition Agreement as in effect on the date hereof) and (iv) 5:00 p.m. (Eastern Time) on
March 12, 2022, if the Closing Date shall not have occurred by such time.

 

11.            Survival.
The sections of this Commitment Documents relating to “Expenses”, “Indemnification”, “Confidentiality”,
 “Other Services”, “Survival”, “Governing Law” and “Miscellaneous” shall survive any termination
or expiration of this Commitment Letter, the commitments of the Commitment Party set forth herein (regardless of whether definitive Financing
Documentation is executed and delivered); provided that your obligations under this Commitment Letter (other than your obligations
with respect to the sections of this Commitment Letter relating to “Information”, “Confidentiality”, “Other
Services”, “Survival” and “Governing Law”) shall be superseded by the provisions of the Financing Documentation
upon the initial funding thereunder.

 

12.            Governing
Law. THE COMMITMENT DOCUMENTS, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED THERETO (INCLUDING, WITHOUT LIMITATION,
ANY CLAIMS SOUNDING IN CONTRACT LAW OR TORT LAW ARISING OUT OF THE SUBJECT MATTER HEREOF OR THEREOF), SHALL BE GOVERNED BY, AND CONSTRUED
IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTION 5-1401 AND SECTION 5-1402 OF THE GENERAL OBLIGATIONS
LAW OF THE STATE OF NEW YORK), WITHOUT REFERENCE TO ANY OTHER CONFLICTS OR CHOICE OF LAW PRINCIPLES THEREOF; PROVIDED THAT, NOTWITHSTANDING
THE FOREGOING TO THE CONTRARY, IT IS UNDERSTOOD AND AGREED THAT ANY DETERMINATIONS AS TO (X) WHETHER ANY SPECIFIED ACQUISITION
AGREEMENT REPRESENTATIONS HAVE BEEN BREACHED AND WHETHER AS A RESULT OF ANY BREACH THEREOF YOU HAVE THE RIGHT TO TERMINATE YOUR OBLIGATIONS
UNDER THE ACQUISITION AGREEMENT OR TO OTHERWISE DECLINE TO CLOSE THE ACQUISITION, (Y)  WHETHER A “MATERIAL ADVERSE EFFECT”
(AS DEFINED IN THE CONDITIONS ANNEX) HAS OCCURRED, AND (Z) THE
DETERMINATION OF WHETHER THE ACQUISITION HAS BEEN CONSUMMATED IN ACCORDANCE WITH THE TERMS OF THE ACQUISITION AGREEMENT SHALL, IN
EACH CASE BE GOVERNED BY THE LAWS OF THE STATE OF DELAWARE. EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES ANY RIGHT TO TRIAL BY JURY
WITH RESPECT TO ANY ACTION, PROCEEDING, CLAIM OR COUNTERCLAIM ARISING OUT OF THE COMMITMENT DOCUMENTS OR THE PERFORMANCE OF SERVICES
THEREUNDER. With respect to any suit, action or proceeding arising in respect of this Commitment Letter or the Fee Letter
or any of the matters contemplated hereby or thereby, the parties hereto hereby irrevocably and unconditionally submit to the exclusive
jurisdiction of any state or federal court located in the Borough of Manhattan, and irrevocably and unconditionally waive any objection
to the laying of venue of such suit, action or proceeding brought in such court and any claim that such suit, action or proceeding has
been brought in an inconvenient forum. The parties hereto hereby agree that service of any process, summons, notice or document by registered
mail addressed to you or the Commitment Party will be effective service of process against such party for any action or proceeding relating
to any such dispute. A final judgment in any such action or proceeding may be enforced in any other courts with jurisdiction over you
or the Commitment Party.

 

    6

    

    

 

13.            Miscellaneous.
This Commitment Letter and the Fee Letter embody the entire agreement and understanding among the Commitment Party and you and your affiliates
with respect to the specific matters set forth above and supersede all prior agreements and understandings relating to the subject matter
hereof. No person has been authorized by the Commitment Party to make any oral or written statements inconsistent with this Commitment
Letter or the Fee Letter. This Commitment Letter and the Fee Letter shall not be assignable by you without the prior written consent
of the Commitment Party, and any purported assignment without such consent shall be void. This Commitment Letter and the Fee Letter are
not intended to benefit or create any rights in favor of any person other than the parties hereto and, with respect to indemnification,
each Indemnified Party. This Commitment Letter and the Fee Letter may be executed in separate counterparts and delivery of an executed
signature page of this Commitment Letter and the Fee Letter by facsimile or electronic mail shall be effective as delivery of manually
executed counterpart hereof; provided that, upon the request of any party hereto, such facsimile transmission or electronic mail
transmission shall be promptly followed by the original thereof. This Commitment Letter and the Fee Letter may only be amended, modified
or superseded by an agreement in writing signed by each of you and the Commitment Party, and shall remain in full force and effect and
not be superseded by any other documentation unless such other documentation is signed by each of the parties hereto and expressly states
that this Commitment Letter is superseded thereby. Unless otherwise agreed by you in writing, (i) in no event will the Commitment
Party be relieved, released or novated from its obligations hereunder (including its obligation to fund the Senior Credit Facility on
the Closing Date) in connection with any syndication, assignment or participation of the Senior Credit Facility until after the initial
funding under the Senior Credit Facility on the Closing Date has occurred, (ii) no assignment or novation will become effective
(as between you and us) with respect to all or any portion of our commitment hereunder until after the initial funding under the Senior
Credit Facility on the Closing Date has occurred and (iii) we will retain exclusive control over all rights and obligations with
respect to our commitment hereunder, including all rights with respect to consents, modifications, supplements, waivers and amendments
of this Commitment Letter, until after the initial funding under the Senior Credit Facility on the Closing Date has occurred.

 

[Signature Pages Follow]

 

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If you are in agreement with
the foregoing, please indicate acceptance of the terms hereof by signing the enclosed counterpart of this Commitment Letter and returning
it to the Commitment Party, together with executed counterparts of the Fee Letter, by no later than the Acceptance Deadline.

 

	 	Sincerely,
	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION
	 	 
	 	By:	/s/ Chad McNeill
	 	Name: Chad McNeill
	 	Title:   Senior Vice President

 

Project Rare 

Commitment Letter 

Signature Page

 

    

    

    

 

	Agreed to and accepted as of the date first above written:	 
	 	 
	GROUP 1 AUTOMOTIVE, IN	 
	 	 
	By:	/s/ Daniel . McHenry	 
	 	Name:	Daniel . McHenry	 
	 	Title:	Chief Financial Officer	 

 

Project
Rare 

Commitment Letter

Signature Page

 

    

    

    

 

ANNEX A

 

$250,000,000

SENIOR UNSECURED CREDIT
FACILITY 

SUMMARY OF PROPOSED TERMS AND CONDITIONS

 

Capitalized terms not otherwise defined herein
shall have the meanings assigned to them in the Commitment Letter to which this Summary of Proposed Terms and Conditions is attached

 

	Borrower:	 	Group 1 Automotive, Inc., a Delaware corporation (the “Borrower”).
	 	 	 
	Lender:	 	Wells Fargo Bank, National Association (the “Lender”).
	 	 	 
	Administrative Agent:	 	Wells Fargo Bank, National Association (in such capacity, the “Administrative Agent”).
	 	 	 
	Senior Credit Facility:	 	A senior unsecured term loan facility (the “Senior Credit Facility”) in an aggregate
    principal amount of up to $250.0 million.
	 	 	 
	Use of Proceeds:	 	The proceeds of the Senior Credit Facility will be used to finance (a) a portion of the purchase
    price for the Acquisition and (b) the payment of fees and expenses incurred in connection with the Acquisition and the Senior
    Credit Facility (collectively, the “Transactions”).
	 	 	 
	Closing Date:	 	The date on which the Senior Credit Facility is closed (the “Closing Date”).
	 	 	 
	Availability:	 	The Senior Credit Facility will be available only in a single draw in an amount elected by the Borrower,
    but in no event to exceed $250.0 million, on the Closing Date.
	 	 	 
	Documentation:	 	The documentation for the Senior Credit Facility will include, among other items, a credit agreement
    and guarantees (collectively, the “Financing Documentation”), all consistent with this Term Sheet. The Financing
    Documentation will contain such other terms as are usual and customary for credit facilities for comparably rated companies in a
    similar industry, consistent with the operational requirements of the Borrower and its subsidiaries in light of their size, cash
    flow, industry business, business practices and operations; it being understood and agreed that the Financing Documentation will
    contain customary representations and warranties, affirmative covenants, negative covenants, events of default and financial definitions,
    with basket sizes, exceptions and other modifications as shall be determined by the Administrative Agent in light of prevailing market
    conditions on the Closing Date. The representations and warranties, covenants (affirmative, negative and financial) and events of
    default will be substantially the same as under that certain Eleventh Amended and Restated Revolving Credit Agreement effective as
    of June 27, 2019, among Group 1 Automotive, Inc., the subsidiary borrowers listed therein, the lenders listed therein,
    U.S. Bank National Association, as administrative agent and Comerica Bank, as floor plan agent (the “Existing Senior Secured
    Facility”). The provisions of this paragraph are referred to as the “Documentation Principles.”

 

	Annex A – Term Sheet	 

    1

    

    

 

	Guarantors:	 	The obligations of the Borrower under the Senior Credit
                                     Facility will be unconditionally guaranteed, on a joint and several basis, by each entity required
                                     to be a Primary Obligor (as defined in the Existing Senior Secured Facility) (each a “Guarantor”;
                                     and such guarantee being referred to as a “Guarantee”); provided that
                                     Guarantees by foreign subsidiaries will be required only to the extent such Guarantees would not
                                     have material adverse tax consequences for the Borrower by constituting an investment of earnings
                                     in United States property under Section 956 (or a successor provision) of the Internal Revenue
                                     Code, triggering an increase in the gross income of the Borrower pursuant to Section 951 (or
                                     a successor provision) of the Internal Revenue Code without corresponding credits or other offsets);
                                     provided further that any first-tier foreign subsidiary that is disregarded for tax purposes
                                     shall not be deemed to be a foreign subsidiary. All Guarantees shall be guarantees of payment and
                                     not of collection. The Borrower and the Guarantors are herein referred to as the “Credit
                                     Parties”.

 

	Security:	 	The Senior Credit Facility shall be unsecured; provided,
                                     however, that notwithstanding anything to the contrary herein, the Financing Documentation shall
                                     include a negative pledge covenant with respect to (i) all real property included in the Acquired
                                     Assets and (ii) certain additional unencumbered real property owned by the Credit Parties to
                                     be mutually agreed and specified in the Financing Document, with an aggregate total value (the determination
                                     of such value to be mutually agreed between Borrower and Administrative Agent) with respect to (i) and
                                     (ii) above in excess of 143% of the aggregate principal amount of the Senior Credit Facility
                                     provided on the Closing Date.

 

	Final Maturity:	 	The final maturity of the Senior Credit Facility will occur on the 364-day anniversary
    of the Closing Date (the “Maturity Date”).
	 	 	 
	Amortization:	 	The aggregate principal amount of the Senior Credit Facility will be due on the Maturity Date.
	 	 	 
	Interest Rates and Fees:	 	Interest rates and fees in connection with the Senior Credit Facility will be as specified in the
    Fee Letter and on Schedule I attached hereto.
	 	 	 
	Mandatory Prepayments:	 	Subject to the next paragraph, the Senior Credit Facility will be required to be prepaid:

 

		(a)	with 100% of the net cash proceeds
                                            of the issuance or incurrence of debt (other than any debt permitted to be issued or incurred
                                            pursuant to the terms of the Financing Documentation) by the Borrower or any of its subsidiaries;
                                            and

 

	Annex A – Term Sheet	 

    2

    

    

 

		(b)	in full upon the occurrence of
                                            a Change of Control (as defined in the Existing Senior Secured Facility) or a Change of Control
                                            (as defined in the Indenture, dated as of August 17, 2020, by and among Group 1 Automotive, Inc.,
                                            the guarantors party thereto and Wells Fargo Bank, National Association, as trustee).

 

	Optional Prepayments:	 	Loans under the Senior Credit Facility may be prepaid at any time, in whole or in part,
    at the option of the Borrower, upon 3 days prior written notice and in minimum principal amounts and in multiples to be agreed upon,
    without premium or penalty.
	 	 	 
	Conditions to Closing and Initial Extensions of Credit:	 	The making of the initial extensions of credit under the Senior Credit Facility will be subject solely
    to satisfaction of the conditions precedent set forth in the Conditions Annex.
	 	 	 
	Yield Protection and Increased Costs:	 	Customary for facilities of this type, including, without limitation, in respect of breakage or redeployment
    costs incurred in connection with prepayments, changes in capital adequacy and capital requirements or their interpretation (provided
    that (i) all requests, rules, guidelines, requirements and directives promulgated by the Bank for International Settlements,
    the Basel Committee on Banking Supervision or by United States or foreign regulatory authorities, in each case pursuant to Basel
    III, and (ii) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all request, rules, guidelines, requirements
    and directives thereunder or issued in connection therewith or in implementation thereof, shall in each case be deemed to be a change
    in law, regardless of the date enacted, adopted, issued or implemented), illegality, unavailability, reserves without proration or
    offset and payments free and clear of withholding or other taxes.

 

	Assignments and Participations:	 	(a)	Subject to the consents
                                            described below (which consents will not be unreasonably withheld or delayed), the Lender
                                            will be permitted to make assignments to Eligible Assignees in respect of the Senior Credit
                                            Facility in a minimum amount equal to $5 million in $1 million increments.

 

		(b)	Consents: The consent of
                                            the Borrower (not to be unreasonably withheld, delayed, conditioned or denied) will be required
                                            for any assignment unless (i) an Event of Default has occurred and is continuing, or
                                            (ii) the assignment is to a lender, an affiliate of a lender or an Approved Fund (as
                                            such term shall be defined in the Financing Documentation); provided, that the Borrower shall
                                            be deemed to have consented to any such assignment unless it shall object thereto by written
                                            notice to the Administrative Agent within 5 business days after having received notice thereof.
                                            The consent of the Administrative Agent will be required for any assignment to an entity
                                            that is not an existing lender, an affiliate of an existing lender or an Approved Fund. Participations
                                            will be permitted without the consent of the Borrower or the Administrative Agent.

 

	Annex A – Term Sheet	 

    3

    

    

 

		(c)	No Assignment or Participation
                                            to Certain Persons. No assignment or participation may be made to natural persons, the
                                            Borrower or any of its affiliates or subsidiaries.

 

	Required Lenders:	 	On any date
    of determination, those lenders who collectively hold more than 50% of the outstanding loans under the Senior Credit Facility (the
    “Required Lenders”).
	 	 	 
	Amendments and Waivers:	 	Amendments and waivers
    of the provisions of the Financing Documentation will require the approval of the Required Lenders, except that (a) the consent
    of all lenders directly adversely affected thereby will be required with respect to (i) increases in the commitment of such
    lenders, (ii) reductions of principal, interest, fees or other amounts, (iii) extensions of scheduled maturities or times
    for payment, (iv) reductions in the voting percentages and (v) any pro rata sharing provisions and (b) the consent
    of all lenders will be required with respect to releases of all or substantially all of the value of the Guarantees.
	 	 	 
	 	 	The Financing Documentation
    will contain “yank-a-bank” provisions as are usual and customary for financings of this kind.
	 	 	 
	Indemnification:	 	The Credit Parties will
    indemnify the Administrative Agent, each of the lenders and their respective affiliates, partners, directors, officers, agents and
    advisors (each, an “indemnified person”) and hold them harmless from and against all liabilities, damages, claims, costs
    and expenses (including reasonable fees, disbursements, settlement costs and other charges of counsel) relating to the Transactions
    or any transactions related thereto and the Borrower’s use of the loan proceeds or the commitments; provided that no
    indemnified person will have any right to indemnification for any of the foregoing to the extent resulting from (i) such indemnified
    party’s own gross negligence or willful misconduct as determined by a court of competent jurisdiction in a final non-appealable
    judgment, (ii) a claim brought by you against an indemnified party for material breach in bad faith of the funding obligations
    of such indemnified party as determined by a court of competent jurisdiction in a final non-appealable judgment or (iii) any
    dispute solely among indemnified parties, other than any claims arising out of any act or omission on the part of you or your subsidiaries
    or affiliates or any claims against the Administrative Agent in its capacity as such.

 

	Annex A – Term Sheet	 

    4

    

    

 

	Expenses:	 	The Borrower shall pay (a) all reasonable and documented
                                     out-of- pocket expenses (including, without limitation, reasonable and documented out-of-pocket
                                     fees and expenses of counsel) of the Administrative Agent (promptly following written demand therefor)
                                     associated with the preparation, negotiation, execution, delivery and administration of the Financing
                                     Documentation and any amendment or waiver with respect thereto and (b) all reasonable and documented
                                     out-of-pocket expenses (including, without limitation, reasonable and documented out-of-pocket fees
                                     and expenses of counsel) of the Administrative Agent and each of the lenders promptly following
                                     written demand therefor in connection with the enforcement of the Financing Documentation or protection
                                     of rights thereunder.

 

	Governing Law; Exclusive Jurisdiction
    and Forum:	 	The Financing
    Documentation will provide that each party thereto will submit to the exclusive jurisdiction and venue of the federal and state courts
    of the State of New York (except to the extent the Administrative Agent or any lender requires submission to any other jurisdiction
    in connection with the exercise of any rights with respect to the enforcement of any judgment).
	 	 	 
	Waiver of Jury Trial and Punitive and Consequential
    Damages:	 	All parties to the Financing
    Documentation shall waive the right to trial by jury and the right to claim punitive or consequential damages.
	 	 	 
	Counsel for the Administrative Agent:	 	King & Spalding
    LLP.

 

	Annex A – Term Sheet	 

    5

    

    

 

SCHEDULE I

 

INTEREST AND FEES

 

	Interest:	At the Borrower’s option, loans will bear interest
                                     based on the Base Rate or LIBOR, in each case, as described below:

 

		A.	Base Rate Option

 

	 	Interest will be at the Base Rate plus
                                            the applicable Interest Margin (as defined below). The “Base Rate”
                                            is defined as the highest of (a) the Federal Funds Rate, as published by the Federal
                                            Reserve Bank of New York, plus 1/2 of 1%, (b) the prime commercial lending rate
                                            of the Administrative Agent, as established from time to time at its principal U.S. office
                                            (which such rate is an index or base rate and will not necessarily be its lowest or best
                                            rate charged to its customers or other banks) and (c) daily LIBOR (as defined below)
                                            for a one month Interest Period (as defined below) plus 1%. Interest shall be payable
                                            quarterly in arrears on the last day of each calendar quarter and (i) with respect to
                                            Base Rate Loans based on the Federal Funds Rate and LIBOR, shall be calculated on the basis
                                            of the actual number of days elapsed in a year of 360 days and (ii) with respect to
                                            Base Rate Loans based on the prime commercial lending rate of the Administrative Agent, shall
                                            be calculated on the basis of the actual number of days elapsed in a year of 365/366 days.
                                            Any loan bearing interest at the Base Rate is referred to herein as a “Base Rate
                                            Loan”.

 

		B.	LIBOR Option

 

	 	Interest
                                            will be equal to the annual rate for Eurocurrency deposits for corresponding deposits of
                                            U.S. dollars for a one month interest period in effect from time to time as administered
                                            by ICE Benchmark Administration Limited (or any applicable successor quoting service) (“LIBOR”)
                                            plus the applicable Interest Margin (as described below). For the initial period commencing
                                            on the Closing Date and ending on the last calendar day of the month, LIBOR will be determined
                                            by the Administrative Agent as of the Closing Date, and for each successive one month period
                                            thereafter, LIBOR will be determined by the Administrative Agent as of the first day of such
                                            month and, other than in the case of LIBOR used in determining the Base Rate, will be fixed
                                            through such one month period. Interest will be paid on the last day of each month, and will
                                            be calculated on the basis of the actual number of days elapsed in a year of 360 days. LIBOR
                                            will be adjusted for maximum statutory reserve requirements (if any), and in no event shall
                                            be less than 0.00%. Any loan bearing interest at LIBOR (other than a Base Rate Loan for which
                                            interest is determined by reference to LIBOR) is referred to herein as a “LIBOR
                                            Rate Loan”.

 

The Financing Documentation
will contain LIBOR replacement provisions based on the “ARRC” hardwired approach. To the extent that the Closing Date may
occur after September 30, 2021, the interest rate provisions in the Financing Documentation may transition (in the Administrative
Agent’s discretion) from LIBOR to a SOFR-based rate plus a margin for adjustment in accordance with ARRC recommendation.

 

	Schedule I to Annex A – Interest and
Fees	 

    1

    

    

 

	Default Interest:	(a) Automatically upon the occurrence and during the continuance of any payment
    event of default or upon a bankruptcy event of default of the Borrower or any other Credit Party or (b) at the election of the
    Required Lenders (or the Administrative Agent at the direction of Required Lenders), upon the occurrence and during the continuance
    of any other event of default, all outstanding principal, fees and other obligations under the Senior Credit Facility shall bear
    interest at a rate per annum of 2% in excess of the rate then applicable to such loan (including the applicable Interest Margin),
    fee or other obligation and shall be payable on demand of the Administrative Agent.
	 	 
	Interest Margins:	The applicable interest margins (the “Interest Margins”) will be, (a) initially,
    for the first six (6) months following the Closing Date, 2.50% for LIBOR Rate Loans and 1.50% for Base Rate Loans, and (b) thereafter,
    4.00% for LIBOR Rate Loans and 3.00% for Base Rate Loans.
	 	 
	Other Fees:	The Administrative Agent will receive such other fees as will have been agreed in a fee letter among
    them and the Borrower.

 

	Schedule I to Annex A – Interest and
Fees	 

    2

    

    

 

ANNEX B

 

$250,000,000

SENIOR UNSECURED CREDIT FACILITY

 

CONDITIONS ANNEX

 

Capitalized terms not
otherwise defined herein shall have the meanings assigned to them in the Commitment Letter to which this Annex is attached or in Annex
A to the Commitment Letter

 

Closing and the making of
the initial extensions of credit under the Senior Credit Facility will be subject to the satisfaction of the following conditions precedent:

 

1.            The
Financing Documentation, which shall be consistent, in each case, with the Commitment Documents, will have been executed and delivered
by the Borrower and the Guarantors to the Commitment Party and the Administrative Agent and the Administrative Agent shall have received
customary legal opinions, which shall expressly permit reliance by the successors and permitted assigns of each of the Administrative
Agent and the Lender, evidence of authorization, organizational documents, customary insurance certificates, good standing certificates
(with respect to the applicable jurisdiction of incorporation or organization of each Credit Party) and customary closing certificate.

 

2.            All
governmental consents necessary for the consummation of the Senior Credit Facility, other than any consent the failure to obtain could
not reasonably be expected to have a Material Adverse Effect (as defined in the Existing Senior Secured Facility), and all equity holder
and board of directors (or comparable entity management body) authorizations required by the terms of the organizational documents of
the Borrower and the Guarantors shall have been obtained and shall be in full force and effect.

 

3.            Since
the date of the Acquisition Agreement, there shall not have occurred any Material Adverse Effect. “Material Adverse Effect”
means “Material Adverse Effect” (as defined as in the Acquisition Agreement as in effect on the date hereof).

 

4.            The
Commitment Party will have received a true and correct fully executed copy of the Acquisition Agreement and all exhibits and schedules
thereto. The Acquisition and the other Transactions shall be consummated substantially concurrently with the initial funding of the Senior
Credit Facility in accordance with applicable law and on the terms described in the Term Sheet and in the Acquisition Agreement without
giving effect to any waiver, modification or consent thereunder that is materially adverse to the interests of the Lender (as reasonably
determined by the Commitment Party) unless such waiver, modification or consent has been consented to by the Commitment Party, it being
understood that, without limitation, any increase in the amount of the purchase price by more than $70 million than the “Closing
Purchase Price” (as defined as in the Acquisition Agreement on the date hereof), the third party beneficiary rights applicable
to the Commitment Party and the Lender or the governing law shall be deemed to be materially adverse to the interests of the Lender unless
approved by the Commitment Party.

 

	Annex B – Conditions Annex	 

    1

    

    

 

 

5.             The
Commitment Party shall have received:

 

(a)             with
respect to the Seller and its subsidiaries, the following financial statements (in each case, along with the notes and schedules thereto):
(i) the audited consolidated balance sheets of GPB Prime Holdings, LLC and its subsidiaries as of December 31, 2020 and December 31,
2019, and the related audited consolidated statements of income, statements of members’ capital and statements of cash flows of
GPB Prime Holdings, LLC and its subsidiaries for the years ended December 31, 2020 and December 31, 2019; (ii) the unaudited
consolidated balance sheet of GPB Prime Holdings, LLC and its subsidiaries as of July 31, 2021, and the related unaudited consolidated
statement of operations, unaudited consolidated statement of members’ equity and unaudited consolidated statement of cash flows
for period ended July 31, 2021; (iii) the audited combined balance sheet of the New York Metro Dealerships as of December 31,
2020, and related audited combined statements of income, statements of members’ equity and statements of cash flows of the New
York Metro Dealerships for the year ended December 31, 2020; and (iv) the unaudited combined balance sheet of the New York
Metro Real Estate & Dealerships as of July 31, 2021, and related unaudited combined statement of operations of the New
York Metro Real Estate & Dealerships for period ended July 31, 2021;

 

(b)             pro
forma financial statements and information consistent with those required to be filed with the SEC for an acquisition that exceeds 20%
on the investment test under Regulation S-X; and

 

(c)             a
certificate from the chief financial officer of the Borrower (in form and substance reasonably satisfactory to the Administrative Agent
and the Commitment Party) certifying that after giving pro forma effect to each element of the Transactions the Borrower and its subsidiaries,
taken as a whole, are solvent.

 

6.             The
Commitment Party shall have received, at least eight (8) business days prior to the Closing Date, all documentation and other information
required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations,
including, without limitation, the PATRIOT Act, that has been requested by the Administrative Agent or Lender in writing at least ten
(10) business days prior to the Closing Date.

 

7.             All
fees and expenses due to the Commitment Party, the Administrative Agent and the Lender required to be paid on the Closing Date (including
the fees and expenses of counsel for the Commitment Party and the Administrative Agent) will have been paid.

 

8.             The
Specified Acquisition Agreement Representations will be true and correct to the extent required by the Limited Conditionality Provision
and the Specified Representations will be true and correct in all material respects (or if qualified by materiality or material adverse
effect, in all respects).

 

Annex B – Conditions Annex

    2

     

    

 

Exhibit G

 

Form of Certificate
of Non-Foreign Status

 

    

     

    

 

Exhibit G-1

 

Form of Non-Foreign
Person Affidavit

 

Section 1445 of the
Internal Revenue Code of 1986, as amended (the “Code”), provides that a transferee of a United States real property
interest must withhold tax if the transferor is a foreign person. For U.S. tax purposes (including Section 1445 of the Code), the
owner of a disregarded entity (which has legal title to a U.S. real property interest under local law) will be the transferor of the
property and not the disregarded entity. To inform [Buyer] (“Transferee”), that withholding of tax is not required
upon the disposition of a United States real property interest by [Seller] (“Transferor”), the undersigned hereby
certifies the following on behalf of Transferor:

 

		1.	Transferor
                                            is not a foreign corporation, foreign partnership, foreign trust, or foreign estate (as those
                                            terms are defined in the Code and Income Tax Regulations);

 

		2.	Transferor
                                            is not a disregarded entity as defined in Treasury Regulations §1.1445 - 2(b)(2)(iii);

 

		3.	Transferor’s
                                            U.S. employer identification number is: ____________________; and

 

		4.	Transferor’s
                                            office address is:
	 	 	______________________________________________________.

 

Transferor understands that
this certification may be disclosed to the Internal Revenue Service by Transferee and that any false statement contained herein could
be punished by fine, imprisonment, or both.

 

Under penalties of perjury, I
declare that I have examined this certification and to the best of my knowledge and belief it is true, correct, and complete, and I further
declare that I have the authority to sign this document on behalf of Transferor.

 

	 	[Transferor]
	 	 
	 	 
	 	By:
	 
	 	 	Name:
	 	 	Title:

 

    

     

    

 

Exhibit G-2

 

Form of Non-Foreign
Person Affidavit

 

Section 1445 of the
Internal Revenue Code of 1986, as amended (the “Code”), provides that a transferee of a United States real property
interest must withhold tax if the transferor is a foreign person. For U.S. tax purposes (including Section 1445 of the Code), the
owner of a disregarded entity (which has legal title to a U.S. real property interest under local law) will be the transferor of the
property and not the disregarded entity. To inform [Buyer] (“Transferee”), that withholding of tax is not required
upon the disposition of a United States real property interest by [Seller] (“Seller”), the undersigned hereby certifies
the following on behalf of [Seller’s regarded parent] (“Transferor”):

 

		1.	Seller
                                            is a disregarded entity, as defined in Treasury Regulations §1.1445-2(b)(2)(iii), and
                                            Seller is disregarded as separate from Transferor for U.S. federal income tax purposes;

 

		2.	Transferor
                                            is not a foreign corporation, foreign partnership, foreign trust, or foreign estate (as those
                                            terms are defined in the Code and Income Tax Regulations);

 

		3.	Transferor
                                            is not a disregarded entity as defined in Treasury Regulations §1.1445 - 2(b)(2)(iii);

 

		4.	Transferor’s
                                            U.S. employer identification number is:____________________; and

 

		5.	Transferor’s
                                            office address is:
	 	 	______________________________________________________.

 

Transferor understands that
this certification may be disclosed to the Internal Revenue Service by Transferee and that any false statement contained herein could
be punished by fine, imprisonment, or both.

 

Under penalties of perjury, I
declare that I have examined this certification and to the best of my knowledge and belief it is true, correct, and complete, and I further
declare that I have the authority to sign this document on behalf of Transferor.

 

	 	[Transferor]
	 	 
	 	 
	 	By:
	 
	 	 	Name:
	 	 	Title:

 

    

     

    

 

Exhibit H

 

FORM OF ESCROW AGREEMENT

 

THIS
ESCROW AGREEMENT (the “Agreement”) is made and entered into as of [                  ],
2021 (the “Effective Date”), by and among Group 1 Automotive, Inc., a Delaware corporation (the “Purchaser”),
GPB Portfolio Automotive, LLC, a Delaware limited liability company, Capstone Automotive Group, LLC, a Delaware limited liability company,
Capstone Automotive Group II, LLC, a Delaware limited liability company, Automile Parent Holdings, LLC, a Delaware limited liability
company, and Automile TY Holdings, LLC, a Delaware limited liability company (each, a “Seller” and collectively, the
 “Sellers”), Prime Real Estate Holdings, LLC, a Delaware limited liability company (the “Real Estate Equity
Seller”) (each a “Party” and together the “Parties”), and Bank of America, National Association,
a national banking association duly organized and existing under the laws of the United States of America, having an office in Chicago, Illinois
(the “Escrow Agent”). The Sellers and the Real Estate Equity Seller are collectively referred to herein as the “Seller
Parties.”

 

WHEREAS, this Agreement is
being entered into in connection with the closing of the transactions contemplated by that certain Purchase Agreement, dated as of September 12,
2021, by and among the Parties (the “Purchase Agreement”); and

 

WHEREAS, pursuant to Section 2.09(a) and
Section 3.02 of the Purchase Agreement, respectively, at the Closing (as defined in the Purchase Agreement), Purchaser is obligated
to deposit into the Escrow Account (as defined below) an amount equal to the sum of (i)

 

$45,000,000.00
(the “Indemnity Escrow Amount”), and (ii) $[                   ]
(the “Delayed Closing Escrow Amount”) for a total of $[             _]
(the “Escrow Amounts”).

 

NOW, THEREFORE, in consideration
of the mutual promises contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the Parties and the Escrow Agent agree as follows:

 

ARTICLE I

ESTABLISHMENT OF ESCROW

 

(a)             Concurrently
with the execution of this Agreement and at the Closing, Purchaser will deposit by wire transfer the Indemnity Escrow Amount and the
Delayed Closing Escrow Amount with the Escrow Agent. The Indemnity Escrow Amount, together with any investment earnings thereon, less
any amounts previously disbursed from the Indemnity Escrow Account as of any given point in time shall hereinafter collectively be referred
to as the “Indemnity Escrow Fund.” The Delayed Closing Escrow Amount, together with any investment earnings thereon,
less any amounts previously disbursed from the Delayed Closing Escrow Account as of any given point in time shall hereinafter collectively
be referred to as the “Delayed Closing Escrow Fund.” The Delayed Closing Escrow Fund and the Indemnity Escrow Fund
are collectively referred to as the “Escrow Fund.”

 

    

     

    

 

(b)            The
Parties hereby appoint the Escrow Agent, and the Escrow Agent hereby agrees to serve, as the escrow agent and depositary subject to the
terms and conditions set forth herein. The Escrow Agent shall receive (i) the Indemnity Escrow Amount and agrees to hold the Indemnity
Escrow Fund in a separate and distinct account (the “Indemnity Escrow Account”) which is hereby established and which
will be held and disbursed by the Escrow Agent only in accordance with the express terms and conditions of this Agreement and (ii) the
Delayed Closing Escrow Amount and agrees to hold the Delayed Closing Escrow Fund in a separate and distinct account (the “Delayed
Closing Escrow Account”) which is hereby established and which will be held and disbursed by the Escrow Agent only in accordance
with the express terms and conditions of this Agreement. The Indemnity Escrow Account and the Delayed Closing Escrow Account are collectively
referred to as the “Escrow Accounts.” The Escrow Agent shall maintain the Escrow Accounts separately and shall not
under any circumstances commingle funds in the Escrow Accounts. The Escrow Agent is not required to question the authority of the person
making the deposits.

 

ARTICLE II 

INVESTMENT OF ESCROW FUND

 

2.1           The
Escrow Agent is hereby directed to invest (i) the Indemnity Escrow Fund, including earnings thereon, in [a Bank of America Interest-Bearing
Deposit Account1 (“Deposit Account”)] or such other account offered by the Escrow Agent from time to time
as the Parties may jointly instruct the Escrow Agent in writing and (ii) the Delayed Closing Escrow Fund, including earnings thereon,
in a Deposit Account or such other account offered by the Escrow Agent from time to time as the Seller Parties may instruct the Escrow
Agent by written notice. Additional information about the Deposit Account is attached hereto as Schedule I.

 

2.2           Upon
receipt of the Escrow Amounts from Purchaser, the Escrow Agent will invest the applicable Escrow Funds in the indicated investments within
two (2) Business Days after receipt of the Escrow Amounts. The Escrow Funds shall not be subject to set off by the Escrow Agent
or any of its Affiliates and shall not be subject to any lien, attachment, trustee process or any other judicial process of any creditor
of any Party hereto or the Escrow Agent.

 

2.3           The
Escrow Agent shall not be responsible to any Party or to any other person or entity for any loss or liability arising in respect of any
investment made in accordance with the terms of this Article II. The Escrow Agent shall send account statements to each of
the Parties on a monthly basis reflecting activity in the Escrow Accounts for the preceding month.

 

 

 

1
Parties to discuss/agree upon default investment option.

 

    - 2 -

     

    

 

ARTICLE III

DISBURSEMENTS FROM THE ESCROW ACCOUNTS

 

3.1           The
Escrow Agent shall only disburse amounts held in either of the Escrow Accounts (other than any interest and earnings) upon (1) receipt
of a joint written instruction executed by the Parties substantially in the form of Annex I (“Disbursement Request”)
from the [Parties]2 by 11:00 a.m. CST three (3) Business Days prior to the requested disbursement date, (2) pursuant
to a written instruction from an authorized signer of either Purchaser or [the Seller Parties,] as applicable, given to effectuate an
attached copy of a final non-appealable binding order or judgment or award from
a court or other arbiter of competent jurisdiction and authority in favor of such Party (such determination, a “Final Order”)
or (3) solely in the case of the Delayed Closing Escrow Account, by 11:00 a.m. CST three (3) Business Days following the
occurrence of the 105th day following the Effective Date (upon which date under this clause (3), all remaining amounts in the
Delayed Closing Escrow Account shall be disbursed to [applicable Seller Parties]); provided, however, that if on or prior to such 105th
day any of the Seller Parties or their affiliates experiences a Bankruptcy Event, then this clause (3) shall also require a Disbursement
Request from the Parties prior to disbursement. Notwithstanding anything herein to the contrary, any earnings or interest accruing within
the Escrow Accounts shall be for the account of the Seller Parties and shall be distributed by the Escrow Agent to [applicable Seller
Parties] on a monthly basis. For the avoidance of doubt, if any Disbursement Request authorizes the disbursement of all of the then-remaining
Escrow Funds, such Disbursement Request shall constitute a Termination Notice (as defined below) and shall be treated as such in accordance
with the provisions of Article VI. Further, the Escrow Agent is authorized to obtain confirmation of such Disbursement Request
by telephone call-back to the person or persons designated for verifying such requests on Exhibit B (such person verifying
the request shall be different than the person initiating the request). The Escrow Agent is authorized to disinvest the requisite amount
of Escrow Funds from the applicable Escrow Account one (1) Business Day prior to the requested disbursement date, or may do so earlier
if the Escrow Agent determines in its sole good faith discretion that disinvesting more than one (1) Business Day prior to the disbursement
date is necessary in order to assure the availability of funds on the requested disbursement date.

 

3.2             Any
payment from the Escrow Account will be made without any deduction or withholding for or on account of any Tax unless such deduction
or withholding is required by applicable law. If the Escrow Agent is required by law to make any such deduction or withholding, the Parties
hereby irrevocably authorize the Escrow Agent to make such deduction or withholding (as the case may be) from any payment from the Escrow
Account and the Escrow Agent will not pay any additional amount in respect of that deduction or withholding.

 

3.3             Escrow
Agent will act on any Disbursement Request or Final Order subject to its rights under Article IV.

 

ARTICLE IV

COMPENSATION; EXPENSES

 

As compensation for its services to be rendered
under this Agreement, for each year or any portion thereof, the Escrow Agent shall receive a fee in the amount specified in Exhibit A
to this Agreement and shall be reimbursed upon request for any expenses specified in Exhibit A incurred or made by it
in connection with the carrying out of its duties under this Agreement. Such fees and expenses shall be paid 50% by Purchaser and 50%
by the Seller Parties. Amounts due for fees and expenses at the time this Agreement is executed shall be deemed to have been invoiced
at such time and for purposes of this Article IV shall be deemed an invoice.

 

 

 

2
Sellers to determine prior to Closing if one or more of the Seller Parties to be appointed representative for all the Seller
Parties for purposes of acting under this Agreement.

 

    - 3 -

     

    

 

ARTICLE V

EXCULPATION AND INDEMNIFICATION

 

5.1           (a) The
obligations and duties of the Escrow Agent are confined to those specifically set forth in this Agreement, which obligations and duties
shall be deemed purely ministerial in nature. No additional obligations and duties of the Escrow Agent shall be inferred or implied from
the terms of any other documents or agreements, notwithstanding references herein to other documents or agreements. The terms and provisions
of this Agreement shall control the duties of the Escrow Agent in all respects notwithstanding the terms and provisions of any other
agreement between any of the Parties that may conflict or are inconsistent with any of the terms and provisions of this Agreement. The
Escrow Agent shall not be subject to, or be under any obligation to ascertain or construe the terms and conditions of any other instrument,
or to interpret this Agreement in light of any other agreement whether or not now or hereafter deposited with or delivered to the Escrow
Agent or referred to in this Agreement. The Escrow Agent shall not be obligated to inquire as to the form, execution, sufficiency, or
validity of any such instrument nor to inquire as to the identity, authority, or rights of the person or persons executing or delivering
same. The Escrow Agent shall have no duty to know or inquire as to the performance or nonperformance of any provision of any other agreement,
instrument, or document. The Parties shall provide the Escrow Agent with a list of authorized representatives, initially authorized hereunder
as set forth on Exhibit B; as such Exhibit B may be amended or supplemented from time to time by delivery of
a revised and re- executed Exhibit B to the Escrow Agent. The Escrow Agent may, but is not required to, investigate payment
instructions, make further inquiries, and, where required, block or reject services due to domestic or global economic or trade-based
sanctions. Notwithstanding the foregoing sentence, the Escrow Agent is authorized to comply with and rely upon any notices, instructions
or other communications believed by it to have been sent or given by a Party or by a person or persons authorized by the Parties. The
Escrow Agent specifically allows for receiving direction by written or electronic transmission from an authorized representative with
the following caveat, the Parties agree on a joint basis to indemnify and hold harmless the Escrow Agent against any and all claims,
losses, damages, liabilities, judgments, costs and expenses (including reasonable attorneys’ fees) (collectively, “Losses”)
incurred or sustained by the Escrow Agent as a result of or in connection with the Escrow Agent’s reliance upon and compliance
with instructions or directions given by written or electronic transmission, provided, however, that such Losses have not arisen from
the fraud, gross negligence or willful misconduct of the Escrow Agent, it being understood that forbearance on the part of the Escrow
Agent to verify or confirm that the person giving the instructions or directions, is, in fact, an authorized person shall not be deemed
in and of itself to constitute fraud, gross negligence or willful misconduct.

 

(b) In the event instructions are given
to the Escrow Agent pursuant to the terms of this Agreement (other than with respect to fund transfers to be made contemporaneously with
the execution of this Agreement), regardless of the method used to transmit such instructions, such instructions must be given by an
individual designated on Exhibit B. Further, the Escrow Agent is authorized to obtain and rely upon confirmation of such
instructions by telephone call-back to the person or persons designated for verifying such instructions on Exhibit B (such
person verifying the instruction shall be different than the person initiating the instruction). The Escrow Agent may require any Party
hereto that is entitled to direct the delivery of fund transfers to designate a phone number or numbers for purposes of confirming the
requested transfer. The Parties agree that the Escrow Agent may delay the initiation of any fund transfer until all security measures
it deems to be necessary and appropriate have been completed and shall incur no liability for such delay.

 

    - 4 -

     

    

 

5.2             The
Escrow Accounts shall be maintained in accordance with applicable laws, rules and regulations and policies and procedures of general
applicability to escrow accounts established by the Escrow Agent. The Escrow Agent shall not be liable for any act that it may do or
omit to do hereunder in good faith and in the exercise of its own best judgment or for any damages not directly resulting from its fraud,
gross negligence or willful misconduct. Without limiting the generality of the foregoing sentence, in no event will the Escrow Agent
be liable for any lost profits or other indirect, special, incidental or consequential damages which the Parties may incur or experience
by reason of having entered into or relied on this Agreement or arising out of or in connection with the Escrow Agent’s duties
hereunder, notwithstanding that the Escrow Agent was advised or otherwise made aware of the possibility of such damages. The Escrow Agent
shall not be liable for acts of God, acts of war, breakdowns or malfunctions of machines or computers, interruptions or malfunctions
of communications or power supplies, labor difficulties, actions of public authorities, or any other similar cause or catastrophe beyond
the Escrow Agent’s reasonable control.

 

5.3             In
the event the Escrow Agent is notified of any dispute, disagreement or legal action relating to or arising in connection with the Escrow
Accounts, the Escrow Funds, or the performance of the Escrow Agent’s duties under this Agreement, the Escrow Agent will not be
required to determine the controversy or to take any action regarding it. The Escrow Agent may hold all documents and funds and may wait
for settlement of any such controversy by final appropriate legal proceedings, arbitration, or other means as, in the Escrow Agent’s
discretion, it may require. Furthermore, if confronted with conflicting demands such that it determines in good faith that it risks incurring
expense or liability regardless of any action it may take or refrain from taking, the Escrow Agent may, at its option, file an action
of interpleader requiring the Parties to answer and litigate any claims and rights among themselves. The Escrow Agent is authorized,
at its option, to deposit with the court in which such action is filed, all documents and funds held in escrow, except all costs, expenses,
charges, and reasonable attorneys’ fees incurred by the Escrow Agent due to the interpleader action and which the Parties agree
on a joint basis to pay. Upon initiating such action, the Escrow Agent shall be fully released and discharged of and from all subsequent
obligations under this Agreement.

 

5.4             The
Parties hereby agree, on a joint basis, to indemnify and hold the Escrow Agent, and its directors, officers, employees and agents, harmless
from and against all costs, damages, judgments, attorneys’ fees (whether such attorneys shall be regularly retained or specifically
employed), expenses, obligations and liabilities of every kind and nature which the Escrow Agent, and its directors, officers, employees
and agents may incur, sustain, or be required to pay in connection with or arising out of this Agreement, unless the aforementioned results
from the Escrow Agent’s fraud, gross negligence or willful misconduct, and to pay the Escrow Agent on demand the amount of all
such costs, damages, judgments, attorneys’ fees, expenses, obligations, and liabilities. The costs and expenses of enforcing this
right of indemnification also shall be paid by the Parties. The foregoing indemnities in this Section 5.4
shall survive the resignation or substitution of the Escrow Agent and the termination of this Agreement.

 

    - 5 -

     

    

 

ARTICLE VI 

TERMINATION OF AGREEMENT

 

6.1             The
Parties may at any time terminate this Agreement by delivering to the Escrow Agent a joint written notice substantially in the form of
Exhibit C (the “Termination Notice”), which shall set forth instructions for all of the then-remaining
Escrow Funds in each Escrow Account. The Termination Notice shall be received by the Escrow Agent not fewer than two (2) Business
Days prior to the requested termination date. If the Termination Notice does not set forth instructions for the return or delivery of
the then-remaining Escrow Funds, then such notice shall be invalid and of no effect.

 

6.2             The
Escrow Agent is authorized to disinvest the remaining Escrow Funds one

 

(1) Business Day prior to the requested
date of termination set forth in the Termination Notice, or may do so earlier if the Escrow Agent determines in its sole good faith discretion
that disinvesting more than one (1) Business Day prior to the requested date is necessary in order to assure the availability of
funds on the requested termination date. Notwithstanding any other provision hereof, this Agreement shall not terminate before all amounts
in the Escrow Accounts (including interest which has accrued but cannot be distributed prior to being posted) shall have been distributed
by the Escrow Agent in accordance with the terms of this Agreement.

 

ARTICLE VII 

RESIGNATION OF ESCROW AGENT

 

The Escrow Agent may resign at any time upon
giving at least thirty (30) days prior written notice to the Parties, provided that no such resignation shall become effective
until the appointment of a successor escrow agent which shall be accomplished as follows: the Parties shall use their commercially reasonable
efforts to select a successor escrow agent within thirty (30) days after receiving such notice. If the Parties fail to appoint a successor
escrow agent within such time, the Escrow Agent shall have the right at the expense of the Parties (such expense to be apportioned among
the Parties in accordance with Article IV) to petition any court of general jurisdiction sitting in Cook County, Illinois for
the appointment of a successor escrow agent. The successor escrow agent shall be accomplish via an instrument in writing executed by
the resigning escrow agent, the successor escrow agent and the Parties execute and deliver an instrument accepting such appointment and
it shall, without further acts, be vested with all the estates, properties, rights, powers, and duties of the predecessor escrow agent
as if originally named as escrow agent. Upon delivery of such instrument, the Escrow Agent (or any resigning escrow agent) shall be discharged
from any further duties and liability under this Agreement. The Escrow Agent shall be paid any outstanding fees and expenses prior to
transferring assets to a successor escrow agent. The Escrow Agent also may be removed, with or without cause, by the Parties acting jointly
at any time by providing written notice to the Escrow Agent.

 

    - 6 -

     

    

 

ARTICLE VIII 

NOTICES

 

8.1             All
notices required by this Agreement shall be in writing and shall be deemed to have been received (a) immediately if sent by facsimile
transmission (with a confirming copy sent the same Business Day by registered or certified mail), or by hand delivery (with signed return
receipt), (b) the next Business Day if sent by nationally recognized overnight courier or (c) the second following Business
Day if sent by registered or certified mail, in any case to the respective addresses as follows:

 

If to the Purchaser:

 

Group 1 Automotive, Inc.

800 Gessner, Suite 500

Houston, Texas 77024

Attention: General Counsel

 

with a copy to (such copy not to constitute notice):

 

Vinson & Elkins LLP

1001 Fannin, Suite 2500

Houston, Texas 77002

Attention: Gillian Hobson

E-mail:
ghobson@velaw.com

 

If to the Seller Parties:

 

[Company
Name]

[Street Address]

[Suite Number]

[City, State, Zip]

Attention: [Contact Person]

Telephone: [Contact Person’s Direct Line]

Fax: [Contact Person’s Direct Line]

Email address:

 

with a copy to (such copy not to constitute notice):

 

Skadden, Arps, Slate, Meagher & Flom LLP

155 N. Wacker Drive

Chicago, IL 60606

Attention: Howard L. Ellin

   Kimberly A. deBeers

E-mail:
howard.ellin@skadden.com

       kimberly.debeers@skadden.com

 

If to the Escrow Agent:

 

Bank of America, National Association

Global Custody and Agency Services

540 W. Madison St

IL4-540-21-03

Chicago, Illinois 60661

Attention: Tatjana Brown

Telephone: (312) 992-3272

Fax: (312) 453-4443

Email address: gcas_amrs_escrow_client_service@bofa.com

 

    - 7 -

     

    

 

8.2             Notices
and other communications including Disbursement Requests provided for hereunder may be delivered or furnished by electronic mail provided
that any Disbursement Request or other notice be attached to an email message in PDF format and provided further that any notice
or other communication sent to an e-mail address shall be deemed received upon and only upon the sender’s receipt of affirmative
acknowledgement of receipt from the intended recipient. For purposes hereof no acknowledgement of receipt generated on an automated basis
shall be deemed sufficient for any purpose hereunder or admissible as evidence of receipt.

 

ARTICLE IX

TAX REPORTING

 

9.1           For
each calendar year (or portion thereof) that the Escrow Accounts are in existence, all interest or other income earned with respect to
the Escrow Accounts shall be allocated to the Seller Parties and reported by the Escrow Agent to the Internal Revenue Service (and any
other relevant taxing authority) on IRS Form 1099 (or other appropriate form) as income earned from the Escrow Accounts by the Seller
Parties whether or not such income is distributed. The Parties and the Escrow Agent agree to not take any position on any tax return
that is inconsistent with the foregoing unless otherwise required following a final “determination” as defined under Section 1313(a) of
the Code.

 

9.2           Each
Party agrees to provide the Escrow Agent with a properly completed Internal Revenue Service Form W-9 or W-8 (or applicable successor
form), as applicable, provided that if the separate existence of a Party is disregarded for U.S. federal income tax purposes, the regarded
owner of such Party shall complete such form on behalf of such Party. Each Party acknowledges that the Escrow Agent may be unable to
perform its duties hereunder if it is not provided with the applicable form. Accordingly, the Parties understand and agree that unless
and until each Party hereto provides an Internal Revenue Service Form W-9 or W-8, as applicable, to the Escrow Agent, the Escrow
Accounts shall not be invested as otherwise provided herein nor shall disbursements be made from the Escrow Account as otherwise provided
at Article III. The Parties understand and agree that (i) an Internal Revenue Service Form W-9 (or applicable successor
form) that is not more than 30 days old is required in the case of a Party that is a “United States person” within the meaning
of Section 7701(a) (30) of the Code and (ii) the applicable Internal Revenue Service Form W-8ECI, W-8IMY, W-8EXP,
W-8BEN, W-8BEN-E (or applicable successor form), with all required attachments (if applicable), is required in the case of a Party that
is not a “United States person” within the meaning of Section 7701(a)(30) of the Code. Any applicable Internal Revenue
Service form required to be delivered hereunder shall be delivered: (i) as of the date of this Agreement, (ii) before December 31
of each third succeeding calendar year, (iii) promptly upon reasonable demand by the Escrow Agent, and (iv) promptly upon learning
that any such tax form previously provided by a Party has expired or become obsolete or incorrect. Upon reasonable demand by the Escrow
Agent, any Party shall promptly provide any other form or documentation that may be reasonably requested in writing by the Escrow Agent
so as to reduce or eliminate any deduction or withholding that may be applicable to any payments made from the Escrow Accounts.

 

    - 8 -

     

    

 

9.3           Each
Party hereby (i) represents and warrants that, as of the date this Agreement, each of the Escrow Accounts is not a Qualified Settlement
Fund, Designated Settlement Fund, or Disputed Ownership Fund within the meaning of Section 468B of the Code (and the Treasury regulations
thereunder) and (ii) covenants that it shall not take any action on or after the date of this Agreement, that causes the Escrow
Accounts to become such a Qualified Settlement Fund, Designated Settlement Fund, or Disputed Ownership Fund at any time.

 

ARTICLE X

MISCELLANEOUS PROVISIONS

 

10.1          This
Agreement shall be governed by and construed in accordance with the laws of the State of Illinois and the parties hereto consent to jurisdiction
in the State of Illinois and venue in any state or federal court located in the City of Chicago.

 

10.2          Any
bank or corporation into which the Escrow Agent may be merged or with which it may be consolidated, or any bank or corporation to whom
the Escrow Agent may transfer a substantial amount of its escrow business, shall be the successor to the Escrow Agent without the execution
or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding.

 

10.3          This
Agreement may be amended, modified, and/or supplemented only by an instrument in writing executed by each Party and the Escrow Agent.

 

10.4          This
Agreement may be executed by the Parties hereto individually or in one or more counterparts, each of which shall be an original and all
of which shall together constitute one and the same agreement. This Agreement, signed and transmitted by facsimile transmission
or in PDF format, is to be treated as an original document and the signature of any party hereon, if so transmitted, is to be considered
as an original signature, and the document so transmitted is to be considered to have the same binding effect as a manually executed
original.

 

10.5          The
headings used in this Agreement are for convenience only and shall not constitute a part of this Agreement. Any references in this Agreement
to any other agreement, instrument, or document are for the convenience of the Parties hereto and shall not constitute a part of this
Agreement.

 

10.6          As
used in this Agreement, “Business Day” means a day other than a Saturday, Sunday, or other day when banking institutions
in Chicago, Illinois are authorized or required by law or executive order to be closed.

 

10.7         This
Agreement constitutes a contract solely among the parties by which it has been executed and is enforceable solely by the parties by which
it has been executed and no other persons. It is the intention of the Parties and the Escrow Agent that this Agreement may not be enforced
on a third party beneficiary or any similar basis.

 

10.8         The
Parties and the Escrow Agent agree that if any provision of this Agreement shall under any circumstances be deemed invalid or inoperative
this Agreement shall be construed with the invalid or inoperative provisions deleted and the rights and obligations of the Parties hereto
shall be construed and enforced accordingly.

 

    - 9 -

     

    

 

10.9         No
party hereto shall assign its rights hereunder until (i) its assignee has submitted to the Escrow Agent Patriot Act disclosure materials
and the Escrow Agent has determined that on the basis of such materials it may accept such assignee as a customer and (ii) assignee
has delivered an IRS Form W-8 or W-9, as applicable, to the Escrow Agent which the Escrow Agent has determined to have been properly
completed. In addition, the foregoing rights to assign shall be subject, in the case of any Party having an obligation to indemnify the
Escrow Agent, to the Escrow Agent’s approval based upon the financial ability of assignee to indemnify it being reasonably comparable
to the financial ability of assignor, which approval shall not be unreasonably withheld.

 

10.10       Escrow
Agent will treat information related to this Agreement as confidential but, unless prohibited by law, the Parties authorize the transfer
or disclosure of any information relating to this Agreement to and between the subsidiaries, officers, affiliates and other representatives
and advisors of the Escrow Agent and third parties selected by any of them, wherever situated, for confidential use in the ordinary course
of business, and further acknowledge that Escrow Agent and any such subsidiary, officer, Affiliate or third party may transfer or disclose
any such information as required by any law, court, regulator or legal process. Escrow Agent consents to any disclosure of the rights,
powers and duties of the Escrow Agent under this Agreement in connection with any filings made by any Party in any bankruptcy cases and
in any notices required to be made in any such bankruptcy cases.

 

10.11       It
is the intent of the Parties that neither the Purchaser nor any Seller Party shall have any right, title or interest in the Escrow Fund
and that the Escrow Fund shall not be an asset or property of either the Purchaser or a Seller Party until such time, and then only to
the extent, that such Party becomes entitled to receive a distribution out of the applicable Escrow Account pursuant to the terms of,
and subject to the conditions set forth in, this Agreement, and that neither a voluntary or involuntary case under any applicable bankruptcy,
insolvency or similar law, nor the appointment of a receiver, trustee, custodian or similar official in respect of the Purchaser or any
Seller Party (any such event, a “Bankruptcy Event”) shall affect, modify, convert or otherwise change the contingent
nature of its respective right to a distribution of the portion of the applicable Escrow Amount to which such Party may become entitled
under this Agreement. In furtherance of the foregoing, in connection with any Bankruptcy Event in which either the Purchaser or any Seller
Party is the debtor, the Escrow Fund shall not constitute property of such debtor’s estate within the meaning of 11 U.S.C. §
541. The Purchaser and each Seller Party acknowledges that it has no power of dominion and control over the Escrow Fund and acknowledges
that it shall not have access to the Escrow Fund, except as specifically provided in this Agreement (and subject, as between the Purchaser
and the Seller Parties, to the terms of the Purchase Agreement).

 

10.12       Solely
in the event that, notwithstanding Section 10.11 of this Agreement, a court of competent jurisdiction (whether or not in connection
with a Bankruptcy Event) determines that all or any portion of the Escrow Fund is property of any Seller Party, (a) the Seller Parties
hereby grant (effective as of the date hereof) to the Purchaser a first-priority security interest in, and hereby pledges and assigns
to the Purchaser, all of its right, title and interest in the Escrow Fund to secure the applicable Seller Parties’ obligations
hereunder; (b) the Purchaser shall be entitled to take all actions necessary to further perfect or maintain the security interest
created by the Seller Parties hereunder in the Escrow Fund; (c) the establishment and maintenance of the applicable Escrow Account
hereunder is intended to constitute possession of the Escrow Fund for the purposes of perfecting the security interests herein created
by this Section 10.12; and (d) all such amounts comprising the Escrow Fund shall constitute the Purchaser’s “cash
collateral” within the meaning of sections 361 and 363 of the Bankruptcy Code, and the Purchaser does not consent to the use by
any of the Seller Parties of such cash collateral, and no Seller Party shall have a right to use or apply any such cash collateral unless
and until such Seller Party shall have obtained a court order authorizing use of the same, and the Purchaser shall have been provided
with “adequate protection” of its interests in the Escrow Fund, within the meaning of sections 361 and 363 of the Bankruptcy
Code.

 

[signatures appear on
the following page(s)]

 

    - 10 -

     

    

 

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

 

	 	Purchaser:
	 	 
	 	GROUP 1 AUTOMOTIVE, INC.
	 	 
	 	 
	 	By:
	                         
	 	 	Name:	                         
	 	 	Title:	                         

 

	 	[Party
                    Defined Name]:

	 	 
	 	[DESIGNATE PARTY]
	 	 
	 	 
	 	By:
	                         
	 	 	Name:	                         
	 	 	Title:	 

 

	 	Escrow
                    Agent:

	 	 
	 	BANK OF AMERICA, NATIONAL ASSOCIATION
	 	 
	 	 
	 	By:
	                         
	 	 	Name:	                         
	 	 	Title:	 

 

Escrow Agreement

 

    - 11 -

     

    

 

EXHIBIT A

 

ESCROW AGENT FEE SCHEDULE

 

	 	Set-Up Fee:	$[•]
	 	 	 
	 	Tax Reporting Set-up Fee:	$[•]
	 	 	 
	 	Administration Fee:	$[          ]
	 	 	Covers the first [     ] months
  from the date of this agreement (‘the Initial Period”). Should the escrow account remain open beyond the Initial Period,
  Escrow Agent may bill an additional fee of [$     ] annually without
  proration.
	 	 	 
	 	Wire Disbursement Fee	Six (6) disbursements via wire transfer are included in the Annual Administration Fee. $150
  per disbursement will be assessed for any additional disbursements.

 

THE SET-UP FEES AND ADMINISTRATION FEES FOR
THE INITIAL PERIOD ARE DUE UPON EXECUTION OF THE ESCROW AGREEMENT.*

 

Escrow Agent reserves the right to bill at cost
for all out-of-pocket expenses, including out-of-pocket expenses. Out-of-pocket expenses include, but are not limited to, professional
services (e.g. legal or accounting), travel expenses, telephone and facsimile transmission costs, postage (including express mail and
overnight delivery charges), and copying charges.

 

*(The Administration Fee will be invoiced
in advance, without pro-ration for partial periods. Wire disbursement fees and expenses will be invoiced on an annual basis in arrears.)

 

     

     

    

 

[AN “EXHIBIT B” MUST BE COMPLETED
AND EXECUTED FOR EACH PARTY TO THE AGREEMENT] ALL MUST INDICATE AT LEAST TWO NAMES, ALONG WITH THE CONTRACT INFORMATION ON THE
FORM BELOW.

 

***Please
note: An individual verifying a disbursement request must be different from the person initiating the request.

 

***NO
ELECTRONIC SIGNATURES – Hand written signatures only.

 

EXHIBIT B

Escrow Agreement Dated
as of [date] by and among [Designate Parties]

Certificate of Authorized
Representatives – [Designate Party]

 

	Name:	 	 	Name:	 
	 	 	 	 	 
	Title:	 	 	Title:	 
	 	 	 	 	 
	Primary Phone:		 	Primary Phone:	 
	 	 	 	 	 
	Alternate Phone:		 	Alternate Phone:	 
	 	 	 	 	 
	E-mail:	 	 	E-mail:	 
	 	 	 	 	 
	Signature:	 	 	Signature:	 

 

	Authority Level:	 	Authority Level:
	 	 	 	 	 	 	 
	 	 ̈	Authorized signatory initiating disbursement requests	 	 	 ̈	Authorized signatory initiating disbursement requests
	 	 	 	 	 	 	 
	 	 ̈	Call back contact to verify disbursement	 	 	 ̈ 	Call back contact to verify disbursement

 

	Name:	 	 	Name:	 
	 	 	 	 	 
	Title:	 	 	Title:	 
	 	 	 	 	 
	Primary Phone:		 	Primary Phone:	 
	 	 	 	 	 
	Alternate Phone:		 	Alternate Phone:	 
	 	 	 	 	 
	E-mail:	 	 	E-mail:	 
	 	 	 	 	 
	Signature:	 	 	Signature:	 

 

	Authority Level:	 	Authority Level:
	 	 	 	 	 	 	 
	 	 ̈	Authorized signatory initiating disbursement requests	 	 	 ̈	Authorized signatory initiating disbursement requests
	 	 	 	 	 	 	 
	 	 ̈	Call back contact to verify disbursement	 	 	 ̈ 	Call back contact to verify disbursement

 

The Escrow
Agent is authorized to comply with and rely upon any notices, instructions or other communications believed by it to have been sent or
given by the person or persons identified above including without limitation, to initiate and verify funds transfers as indicated.

 

[Name of Party]:

 

	By:		 
	Name:	 	 
	Title:	 	 

 

Date: ________________

 

     

     

    

 

[AN “EXHIBIT B”
MUST BE COMPLETED AND EXECUTED FOR EACH PARTY TO THE AGREEMENT] ALL MUST INDICATE AT LEAST TWO NAMES, ALONG WITH THE CONTRACT
INFORMATION ON THE FORM BELOW.

 

***Please
note: An individual verifying a disbursement request must be different from the person initiating the request.

 

***NO
ELECTRONIC SIGNATURES – Hand written signatures only.

 

EXHIBIT B

Escrow Agreement Dated as of [date] by and
among [Designate Parties]

Certificate of Authorized
Representatives – [Designate Party]

 

	Name:	 	 	Name:	 
	 	 	 	 	 
	Title:	 	 	Title:	 
	 	 	 	 	 
	Primary Phone:		 	Primary Phone:	 
	 	 	 	 	 
	Alternate Phone:		 	Alternate Phone:	 
	 	 	 	 	 
	E-mail:	 	 	E-mail:	 
	 	 	 	 	 
	Signature:	 	 	Signature:	 

 

	Authority Level:	 	Authority Level:
	 	 	 	 	 	 	 
	 	 ̈	Authorized signatory initiating disbursement requests	 	 	 ̈	Authorized signatory initiating disbursement requests
	 	 	 	 	 	 	 
	 	 ̈	Call back contact to verify disbursement	 	 	 ̈ 	Call back contact to verify disbursement

 

	Name:	 	 	Name:	 
	 	 	 	 	 
	Title:	 	 	Title:	 
	 	 	 	 	 
	Primary Phone:		 	Primary Phone:	 
	 	 	 	 	 
	Alternate Phone:		 	Alternate Phone:	 
	 	 	 	 	 
	E-mail:	 	 	E-mail:	 
	 	 	 	 	 
	Signature:	 	 	Signature:	 

 

	Authority Level:	 	Authority Level:
	 	 	 	 	 	 	 
	 	 ̈	Authorized signatory initiating disbursement requests	 	 	 ̈	Authorized signatory initiating disbursement requests
	 	 	 	 	 	 	 
	 	 ̈	Call back contact to verify disbursement	 	 	 ̈ 	Call back contact to verify disbursement

 

The Escrow
Agent is authorized to comply with and rely upon any notices, instructions or other communications believed by it to have been sent or
given by the person or persons identified above including without limitation, to initiate and verify funds transfers as indicated.

 

[Name of Party]:

 

	By:		 
	Name:	 	 
	Title:	 	 

 

Date: ________________

 

     

     

    

 

EXHIBIT C

FORM OF TERMINATION NOTICE

 

[Date]

 

Bank of America, National Association

Global Custody and Agency Services

540 W. Madison St

IL4-540-21-03

Chicago, Illinois 60661

Attention: Tatjana Brown

Fax: (312) 453-4443

Email address: gcas_amrs_escrow_client_service@bofa.com

 

NOTICE OF TERMINATION

 

Escrow
Account Number #[                ]

 

Ladies and Gentlemen:

 

We refer you to that certain
Escrow Agreement (the “Agreement”), dated as of [•], among Group 1 Automotive, Inc., a Delaware
corporation, GPB Portfolio Automotive, LLC, a Delaware limited liability company, Capstone Automotive Group, LLC, a Delaware limited
liability company, Capstone Automotive Group II, LLC, a Delaware limited liability company, Automile Parent Holdings, LLC, a Delaware
limited liability company, Automile TY Holdings, LLC, a Delaware limited liability company, Prime Real Estate Holdings, LLC, a Delaware
limited liability company, and Bank of America, National Association, a photocopy of which is attached hereto. Capitalized terms used
but not defined in this letter shall have the meanings given them in the Agreement.

 

We
hereby notify you, in accordance with the terms and provisions of Article VI of the Agreement, that we are terminating the
Agreement and that this letter constitutes a Termination Notice (as defined in the Agreement) for all purposes under the Agreement. Accordingly,
we request that you terminate the Agreement as of [•]3. Those undertakings that, under the provisions
of the Agreement, shall survive termination of the Agreement shall continue as provided therein. The Escrow Funds shall, concurrently
with the termination of the Agreement, be delivered by federal wire transfer as follows:

 

		(i)	Disbursement
                                            Date:
		(ii)	Dollar
                                            Amount $
		(iii)	Beneficiary
                                            Name:
		(iv)	Beneficiary
                                            Address, City, State Zip Code and Country (v)Beneficiary Bank Name:
		(vi)	Beneficiary
                                            Bank ABA/Routing # (9 digits):
		(vii)	Beneficiary
                                            Account Number:
		(viii)	Reference:
		(ix)	Provision
                                            of Agreement pursuant to which request is being made:

 

 

 

3
Date should be no fewer than 2 Business Days after the date of this Notice.

 

     

     

    

 

		(x)	If
                                            Intermediary Bank is required, please include Intermediary Bank Name, Intermediary Bank
                                            Address, SWIFT Code and any other relevant bank information required.

 

The undersigned acknowledge that interest and
earnings on any Escrow Funds which has accrued as of the Disbursement Date but which has not posted will be disbursed to the Seller Parties
upon posting pursuant to the instructions to be provided by [Seller Parties].

 

The undersigned acknowledge that the Escrow Agent will act on this
Notice of Termination subject to its rights under Article VI of the Agreement.

 

	Very truly yours,	 	 
	 	 	 	 
	[Party Defined Name]:	 	[Party Defined Name]:
	[DESIGNATE
  PARTY]	 	[DESIGNATE PARTY]
	 	 	 	 
	By:	 	 	By:	 
	Name:	 	 	Name:	 
	Title:	 	 	Title:	 

 

     

     

    

 

SCHEDULE I

ESCROW ACCOUNT INVESTMENT INFORMATION

 

INFORMATION AND DISCLOSURES
REGARDING INVESTMENT IN A BANK OF AMERICA, N.A. INTEREST BEARING DEPOSIT ACCOUNT

 

Interest Bearing Deposit Account:

U.S.
and non U.S. Corporate and Institutional Investor Use Only

 

TERMS AND CONDITIONS - The Interest Bearing Deposit
Account (“IBDA”) is a demand deposit account held at Bank of America, N.A. To deposit funds in IBDA you must establish and
maintain an account with Bank of America, N.A. (the “Bank”) pursuant to the terms of a written account agreement, including
the Escrow Agreement (the “Relationship Terms”). Your funds may only be placed on deposit in or withdrawn from IBDA by the
Escrow Agent acting on your behalf under the Relationship Terms and under the terms and conditions set forth herein. You will receive
a statement from the Escrow Agent reflecting any balances held in IBDA at Bank and such balances, and any deposits to or withdrawals
from IBDA on your behalf, will not be reflected on any other statement you receive from Bank.

 

An IBDA is a type of demand deposit account as
described in, and subject to, the Bank Deposit Agreement and Disclosures, and may be reflected on your account statement as Interest
Bearing Deposit Account. IBDA will pay interest at a rate determined by the Bank based on market conditions. Market conditions and/or
other factors may cause the Bank to change the rate at any time, without notice or limit. In the event the rate changes, Escrow Agent
will reflect the implementation of the new rate on your account statement as of the effective date of the change. The Bank reserves the
right to pay no interest on the account, in which case the account may be held as a Non-Interest Bearing Demand Deposit demand deposit
account as described in the Bank Deposit Agreement and Disclosures.

 

Past performance is no guarantee of future results.
Funds deposited in IBDA or a Non-Interest Bearing demand deposit account, as applicable are insured to the maximum extent permitted by
law and regulation by the Federal Deposit Insurance Corporation. IBDA has a normal cutoff time of 4:00PM (central time) and any cash
received after that time will not be invested until the next business day.

 

     

     

    

 

ANNEX I 

FORM OF DISBURSEMENT REQUEST

 

[Date]

 

Bank of America, National Association

Global Custody and Agency Services

540 W. Madison St

IL4-540-21-03

Chicago, Illinois 60661

Attention: Tatjana Brown

Fax: (312) 453-4443

Email address: gcas_amrs_escrow_client_service@bofa.com

 

DISBURSEMENT REQUEST

Escrow
Account Number #[         ]

 

Ladies and Gentlemen:

 

We refer you to that certain
Escrow Agreement (the “Agreement”), dated as of [•], among Group 1 Automotive, Inc., a Delaware
corporation, GPB Portfolio Automotive, LLC, a Delaware limited liability company, Capstone Automotive Group, LLC, a Delaware limited
liability company, Capstone Automotive Group II, LLC, a Delaware limited liability company, Automile Parent Holdings, LLC, a Delaware
limited liability company, Automile TY Holdings, LLC, a Delaware limited liability company, Prime Real Estate Holdings, LLC, a Delaware
limited liability company, and Bank of America, National Association, as Escrow Agent. Capitalized terms used but not defined in this
letter shall have the meanings given them in the Agreement.

 

You are hereby directed to disburse funds held in the [applicable
Escrow Account] as follows:

 

		(i)	Disbursement
                                            Date:
		(ii)	Dollar Amount $
		(iii)	Beneficiary Name:
		(iv)	Beneficiary
                                            Address, City, State Zip Code and Country
	 	(v)	Beneficiary Bank Name:
		(vi)	Beneficiary
                                            Bank ABA/Routing # (9 digits):
		(vii)	Beneficiary
                                            Account Number:
		(viii)	Reference:
		(ix)	[The
                                            subaccount from which the disbursement is to be made (if applicable).] (x)Section of
                                            Agreement pursuant to which the Disbursement Request is being made.
		(xi)	If Intermediary
                                            Bank is required, please include Intermediary Bank Name, Intermediary Bank Address,
                                            SWIFT Code and any other relevant bank information required.

 

     

     

    

 

The undersigned acknowledge that the Escrow Agent will act on this
Disbursement Request subject to its rights under Article IV.

 

	Very truly yours,	 	 
	 	 	 	 
	[Party
  Defined Name]:	 	[Party Defined Name]:
	[DESIGNATE PARTY]	 	[DESIGNATE PARTY]
	 	 	 	 
	By:	 	 	By:	 
	Name:	 	 	Name:	 
	Title:	 	 	Title:	 

 

     

     

    

 

Annex A

 

Non-Dealership Lessees

 

	Property
    Owner	Landlord	Tenant	Address
	AMR
    Real Estate Holdings, LLC	AMR
    Real Estate Holdings, LLC	Sprint
    Spectrum L.P.	2100
    Washington Street, Hanover, MA 02339

	

    Casa Development, Inc.
	AMR Auto Holdings - VH,
    LLC
	Dutch & American Trading Company, LLC
	425 Lincoln Street, Hingham, MA 02043

 

     98

     

    

 

Annex B

 

Non-Business Entities

 

		1.	Non-Prime
                                            Closed Stores, LLC
		2.	AMR
                                            Auto Holdings - ACII, LLC
		3.	AMR
                                            Auto Holdings - HD, LLC
		4.	AMR
                                            Auto Holdings - IN, LLC
		5.	AMR
                                            Auto Holdings - KH, LLC
		6.	AMR
                                            Auto Holdings - SB, LLC
		7.	AMR
                                            Auto Holdings - SN, LLC
		8.	AMR
                                            Auto Holdings - UW, LLC
		9.	AMR
                                            Auto Holdings - VS, LLC
		10.	AMR
                                            Auto Holdings - TO, LLC
		11.	AMR
                                            Auto Holdings - TH, LLC
		12.	AMR
                                            Auto Holdings - TY, LLC
		13.	AMR
                                            Auto Holdings - CH, LLC
		14.	AMR
                                            Auto Holdings - SH, LLC
		15.	AMR
                                            Auto Holdings – LC, LLC
		16.	Automile
                                            Gallery Holdings, LLC
		17.	Prime
                                            Flip, LLC
		18.	Staretz
                                            LLC
		19.	AMR
                                            Auto Holdings - WPWN, LLC
		20.	Country
                                            Motors II, Inc.
		21.	Blackhill
                                            Road Realty, LLC
		22.	Capstone
                                            Automotive Management, LLC
		23.	KRAG
                                            Holdings, LLC
		24.	Capstone
                                            KRAG Holdings, LLC
		25.	PAG
                                            Management Tri State, LLC
		26.	4410
                                            NY-12 Realty, LLC
		27.	18675
                                            US Route 11 Realty, LLC
		28.	18748
                                            Route 11 Realty, LLC
		29.	18712
                                            Route 11 Realty, LLC
		30.	18493
                                            Route 11 Realty, LLC
		31.	18476
                                            Route 11 Realty, LLC
		32.	18447
                                            Route 11 Realty, LLC
		33.	11333
                                            US 30 Realty, LLC
		34.	11331
                                            US 30 Realty, LLC
		35.	11310
                                            Center Highway Realty, LLC
		36.	11250
                                            US 30 Realty, LLC
		37.	8900
                                            University Boulevard Realty, LLC
		38.	3205
                                            FM Realty, LLC
		39.	3200
                                            Library Road Realty, LLC

 

     99

     

    

 

		40.	3005
                                            FM Realty, LLC
		41.	2006
                                            N. Center Avenue Realty, LLC
		42.	111
                                            E. Highway 6 Realty, LLC
		43.	50
                                            Buttermilk Hollow Realty, LLC
		44.	35
                                            Bypass Realty, LLC
		45.	54
                                            Caprara Drive Realty, LLC
		46.	GPB
                                            Cars 12, LLC
		47.	Capstone
                                            Cars of Syracuse, LLC
		48.	FX
                                            Caprara Chevrolet Buick LLC
		49.	FX
                                            Caprara Imports of Watertown, LLC
		50.	FX
                                            Caprara VW, LLC, LLC
		51.	FX
                                            CDJR of Alexandria Bay, LLC
		52.	FX
                                            CDJR of Watertown, LLC
		53.	GPB
                                            Cars 5, LLC
		54.	Great
                                            Neck Ford, LLC
		55.	Pulaski
                                            Ford LLC
		56.	Lash
                                            Auto Group 2, LLC
		57.	Lash
                                            Auto Group LLC
		58.	Jersey
                                            Nissan, LLC
		59.	Lash
                                            Auto Group 1, LLC
		60.	DJD
                                            Holdings 2, LLC
		61.	DJD
                                            Holdings, LLC
		62.	KRAG
                                            Chevrolet of Cranberry, LLC
		63.	KRAG
                                            Chevrolet of North Huntingdon, LLC
		64.	KRAG
                                            Chevrolet of Somerset, LLC
		65.	KRAG
                                            Ford of Adamsburg, LLC
		66.	KRAG
                                            Subaru, LLC
		67.	KRAG
                                            M, LLC
		68.	KRAG
                                            Ford, LLC
		69.	Alvin
                                            Autoworld, LLC
		70.	Ron
                                            Carter Autoworld, LLC
		71.	Ron
                                            Carter Auto Accessories, LLC
		72.	AMR
                                            Automotive Reinsurance Limited
		73.	Prime
                                            Automotive Reinsurance Limited

 

     100

     

    

 

Annex
C

 

Dealerships

 

	Dealership	Legal
Name	Street
Address	City,
State	Zip	EIN/FID
	Prime Acura	AMR
Auto Holdings - AC, LLC	395
Providence Highway	Westwood,
MA	02090	26-0471798
	Audi Westwood	AMR
Auto Holdings - PA, LLC	375
Providence Highway	Westwood,
MA	02090	26-0471759
	BMW of Norwood	AMR
Auto Holdings - BN, LLC	920
Providence Highway	Norwood,
MA	02062	32-0570900
	South Shore BMW	AMR
Auto Holdings - BR, LLC	1040
Hingham Street	Rockland,
MA	02370	36-4902527
	Prime
Chrysler Dodge Jeep Ram	AMR
Auto Holdings - JS, LLC	824
Portland Road	Saco,
ME	04072	35-2641912
	World Chrysler
Dodge Jeep Ram	World
CDJR, LLC	681
Shrewsbury Avenue	Shrewsbury,
NJ	07702	32-0508159
	Prime Ford Auburn	AMR
Auto Holdings - FA, LLC	780
Washington Street	Auburn,
MA	01501	47-1591488
	Prime Ford	Saco
Auto Holdings - FLMM, LLC	857
Portland Road	Saco,
ME	04072	26-0475702
	Prime Buick GMC	AMR
Auto Holdings - BG, LLC	1845
Washington Street	Hanover,
MA	02339	80-0790489
	Rockville Centre
GMC	Rockville
Centre GMC, LLC	510
Sunrise Hwy	Rockville
Centre, NY	11570	38-3982028
	Staten
Island Buick GMC	Staten
Island Buick GMC, LLC	1855
Hylan Blvd.	Staten
Island, NY	10305	38-3954451
	Prime Honda	AMR
Auto Holdings - HN, LLC	1575
VFW Pkwy	West
Roxbury, MA	02132	26-0471929
	Prime Honda 128	AMR
Auto Holdings - HNR, LLC	88-98
Walkers Brook Dr.	Reading,
MA	01867	30-1096706
	Prime Honda Saco	Saco
Auto Holdings - HN, LLC	754
Portland Road	Saco,
ME	04072	26-0475367
	Land Rover Hanover	AMR
Auto Holdings - LH,LLC	2144
Washington Street	Hanover,
MA	02339	35-2610511
	Prime Mazda	AMR
Auto Holdings - MN, LLC	920
Providence Highway	Norwood,
MA	02062	36-4902360
	Mercedes-Benz
of Hanover	AMR
Auto Holdings - MH, LLC	1877
Washington Street	Hanover,
MA	02339	27-3116200
	Mercedes-Benz of
Manchester	AMR
Auto Holdings - MM, LLC	875
Gold Street	Manchester.
NH	03103	35-2565758
	Mercedes-Benz
of Westwood	AMR
Auto Holdings - MW, LLC	425
Providence Hwy	Westwood,
MA	02090	26-0471690
	Prime Motor Cars	Sawdran,
LLC	137
US-1	Scarborough,
ME	04074	20-1703076
	South Shore Mini	AMR
Auto Holdings - MINR, LLC	1040
Hingham Street	Rockland,
MA	02370	38-4085732

 

     101

     

    

 

	Dealership	Legal
Name	Street
Address	City,
State	Zip	EIN/FID
	Porsche Westwood	AMR
Auto Holdings - PO, LLC	411
Providence Highway	Westwood,
MA	02090	30-1013326
	Prime
Subaru Manchester	AMR
Auto Holdings - SM, LLC	205
John E. Devine Dr.	Manchester,
NH	03102	35-2604501
	World
Subaru	World
Subaru, LLC	688
Shrewsbury Avenue	Tinton
Falls, NJ	07701	36-4850210
	Bill
Kolb Jr. Subaru	Orangeburg
Subaru, LLC	252
NY 303	Orangeburg,
NY	10962	81-4686087
	Prime
Toyota Route 2	AMR
Auto Holdings - LN, LLC	700
Old Union Turnpike	Lancaster,
MA	01523	46-2957097
	Prime
Toyota	Lupo,
LLC	783
Portland Road	Saco,
ME	04072	20-0419186
	Prime
Volvo Cars South Shore	AMR
Auto Holdings - VH, LLC	1030
Hingham Street	Rockland,
MA	02370	81-2523797
	Volkswagen
of Norwood	AMR
Auto Holdings - VWN, LLC	1280
Providence Hwy	Norwood,
MA	02062	35-2631780
	Prime
Volkswagen	Saco
Auto Holdings - VW, LLC	784
Portland Road	Saco,
ME	04072	26-0475410
	Norwell
Collision Center	AMR
Auto Holdings - NC, LLC	154
Washington Street	Norwell,
MA	02061	35-2606279
	Saco
Collision Center	AMR
RE Holdings	751
Portland Road	Saco,
ME	04072	26-1114944
	West
Roxbury Collision Center	AMR
RE Holdings	151-155
Rivermoor Street	West
Roxbury, MA	02132	26-1114944

 

     102Exhibit 10.3

 

Execution Version

 

CREDIT AND GUARANTY AGREEMENT

 

dated as of September 30, 2021

 

among

 

HPI HOLDCO, LLC, as Borrower

 

HPI HOLDINGS, LLC,
as Holdings

 

CERTAIN SUBSIDIARIES OF HOLDINGS,

as Guarantors,

 

VARIOUS LENDERS,

 

and

 

CRESTLINE DIRECT FINANCE, L.P.

as Administrative Agent, Collateral Agent and
Sole Lead Arranger

 

	 	 	 
	 	$57,000,000 Senior Secured Credit Facilities	 
	 	 	 

 

     

     

    

 

TABLE OF CONTENTS

 

	SECTION 1.	DEFINITIONS AND INTERPRETATION	2

 

		1.1	Definitions	2
		1.2	Accounting Terms	42
		1.3	Interpretation, etc.	42
		1.4	Benchmark Replacement Settings	43
		1.5	Divisions	44
		1.6	Exchange Rates; Currency Equivalents	44

 

	SECTION 2.	LOANS	45

 

		2.1	Term Loans	45
		2.2	[Reserved]	45
		2.3	Revolving Loans	45
		2.4	[Reserved]	47
		2.5	Pro Rata Shares; Availability of Funds	47
		2.6	Use of Proceeds	47
		2.7	Evidence of Debt; Register; Lenders’ Books and Records; Notes	47
		2.8	Interest on Loans	48
		2.9	Conversion/Continuation	49
		2.10	Default Interest	49
		2.11	Fees	50
		2.12	Scheduled Payments	51
		2.13	Voluntary Prepayments/Commitment Reductions	51
		2.14	Mandatory Prepayments	53
		2.15	Application of Prepayments/Reductions	55
		2.16	General Provisions Regarding Payments	57
		2.17	Ratable Sharing	58
		2.18	Making or Maintaining LIBOR Rate Loans	59
		2.19	Increased Costs; Capital Requirements	60
		2.20	Taxes; Withholding, etc.	61
		2.21	Defaulting Lenders	65
		2.22	[Reserved]	66
		2.23	Mitigation of Obligations; Replacement of Lenders	66

 

    i

     

    

 

	SECTION 3.	CONDITIONS PRECEDENT	67

 

		3.1	Closing Date	67

		3.2	Conditions to Each Credit Extension	71

 

	SECTION 4.	REPRESENTATIONS AND WARRANTIES	71

 

		4.1	Organization; Requisite Power and Authority; Qualification	71

		4.2	Capital Stock and Ownership	72

		4.3	Due Authorization	72

		4.4	No Conflict	72

		4.5	Consents	72

		4.6	Binding Obligation	73

		4.7	Historical Financial Statements	73

		4.8	Projections	73

		4.9	No Material Adverse Change	73

		4.10	Adverse Proceedings, etc.	73

		4.11	Payment of Taxes	73

		4.12	Properties	74

		4.13	Environmental Matters	74

		4.14	No Defaults	75

		4.15	Material Contracts	75

		4.16	Governmental Regulation	75

		4.17	Margin Stock	75

		4.18	Employee Matters	75

		4.19	Employee Benefit Plans	76

		4.20	Certain Fees	76

		4.21	Solvency	76

		4.22	Compliance with Statutes, etc.	76

		4.23	Disclosure	77

		4.24	Patriot Act	77

		4.25	Anti-Money Laundering Laws	77

		4.26	[Reserved]	77

		4.27	Use of Proceeds	77

		4.28	Insurance	77

		4.29	Collateral Documents	78

 

    ii

     

    

 

		4.30	[Reserved]	78

		4.31	[Reserved]	78

		4.32	Common Enterprise	78

		4.33	Holdings as a Holding Company	78

		4.34	Security and Data Privacy	78

		4.35	Foreign Subsidiaries	79

		4.36	Regulatory Matters	79

 

	SECTION 5.	AFFIRMATIVE COVENANTS	82

 

		5.1	Financial Statements and Other Reports	82

		5.2	Existence	86

		5.3	Payment of Taxes and Claims	86

		5.4	Maintenance of Properties	86

		5.5	Insurance	87

		5.6	Inspections	87

		5.7	Lenders Meetings	87

		5.8	Compliance with Laws and Material Contract Obligations	87

		5.9	Environmental	87

		5.10	Subsidiaries	88

		5.11	Additional Material Real Estate Assets	88

		5.12	Further Assurances	89

		5.13	[Reserved]	89

		5.14	Cash Repatriation	89

		5.15	Currency Agreements	89

		5.16	Board Observation Rights	90

		5.17	Data Breach	90

		5.18	Regulatory Matters	90

		5.19	Minimum Earnout Escrow Account Balance	91

		5.20	Minimum Blocked Account Balance	91

		5.21	Post-Closing Matters	92

 

	SECTION 6.	NEGATIVE COVENANTS	92

 

		6.1	Indebtedness	92

		6.2	Liens	94

		6.3	Equitable Lien	96

 

    iii

     

    

 

		6.4	No Further Negative Pledges	97

		6.5	Restricted Junior Payments	97

		6.6	Restrictions on Subsidiary Distributions	98

		6.7	Investments	98

		6.8	Financial Covenants	100

		6.9	Fundamental Changes; Disposition of Assets; Acquisitions	102

		6.10	Disposal of Subsidiary Interests	106

		6.11	Sales and Lease Backs	106

		6.12	Transactions with Shareholders and Affiliates	106

		6.13	Conduct of Business	106

		6.14	Use of Proceeds	106

		6.15	Permitted Activities of Holdings	106

		6.16	Amendments or Waivers of Certain Related Agreements	107

		6.17	Fiscal Year	107

		6.18	Deposit Accounts and Securities Accounts	107

		6.19	Amendments to Organizational Agreements and Material Contracts	107

		6.20	Prepayments of Certain Indebtedness	107

		6.21	Foreign Subsidiaries	107

		6.22	Earnout Payment	107

		6.23	Anti-Corruption Laws; Sanctions; Anti-Money Laundering Laws	108

		6.24	Plan Assets; Prohibited Transactions	108

 

	SECTION 7.	GUARANTY	108

 

		7.1	Guaranty of the Obligations	108

		7.2	Contribution by Guarantors	108

		7.3	Payment by Guarantors	109

		7.4	Liability of Guarantors Absolute	109

		7.5	Waivers by Guarantors	111

		7.6	Guarantors’ Rights of Subrogation, Contribution, etc.	112

		7.7	Subordination of Other Obligations	112

		7.8	Continuing Guaranty	112

		7.9	Authority of Guarantors or Borrower	112

		7.10	Financial Condition of Borrower	112

		7.11	Bankruptcy, etc.	113

 

    iv

     

    

 

		7.12	Discharge of Guaranty Upon Sale of Guarantor	113

		7.13	Keepwell	113

 

	SECTION 8.	EVENTS OF DEFAULT	114

 

		8.1	Events of Default	114

 

	SECTION 9.	AGENTS	116

 

		9.1	Appointment of Agents	116

		9.2	Powers and Duties	116

		9.3	General Immunity	117

		9.4	Agents Entitled to Act as Lender	118

		9.5	Delegation of Duties	118

		9.6	Lenders’ Representations, Warranties and Acknowledgment	118

		9.7	Right to Indemnity	119

		9.8	Successor Administrative Agent and Collateral Agent	119

		9.9	Collateral Documents and Guaranty	120

		9.10	Administrative Agent May File Proofs of Claim	120

		9.11	Erroneous Payments	121

		9.12	Lender ERISA Matters	123

 

	SECTION 10.	MISCELLANEOUS	124

 

		10.1	Notices	124

		10.2	Expenses	125

		10.3	Indemnity	125

		10.4	Set Off	126

		10.5	Amendments and Waivers	127

		10.6	Successors and Assigns; Participations	129

		10.7	[Reserved]	132

		10.8	Survival of Representations, Warranties and Agreements	132

		10.9	No Waiver; Remedies Cumulative	132

		10.10	Marshalling; Payments Set Aside	132

		10.11	Severability	133

		10.12	Obligations Several; Actions in Concert	133

		10.13	Headings	133

		10.14	APPLICABLE LAW	133

		10.15	CONSENT TO JURISDICTION	133

 

    v

     

    

 

		10.16	WAIVER OF JURY TRIAL	134

		10.17	Confidentiality	135

		10.18	Usury Savings Clause	135

		10.19	Counterparts	136

		10.20	Effectiveness	136

		10.21	Patriot Act	136

		10.22	Acknowledgement and Consent to Bail-In of Affected Financial Institutions	136

		10.23	Guarantor Assumption	137

		10.24	Original Issue Discount	137

		10.25	Judgment Currency	137

 

    vi

     

    

 

	APPENDICES:	A-1	Term Loan Commitments 
	 	A-2 	Revolving Commitments 
	 	B	Notice Addresses
	 	 	 
	SCHEDULES:	1.1	Certain Material Real Estate Assets
	 	4.1	Jurisdictions of Organization and Qualification
	 	4.2	Capital Stock and Ownership
	 	4.12	Real Estate Assets
	 	4.15	Material Contracts
	 	5.21	Certain Post-Closing Matters
	 	6.1	Certain Indebtedness
	 	6.2	Certain Liens
	 	6.7	Certain Investments
	 	6.12	Certain Affiliate Transactions
	 	 	 
	EXHIBITS:	A-1	Funding Notice 
	 	A-2	Conversion/Continuation Notice 
	 	B-1	Term Loan Note
	 	B-2 	Revolving Loan Note 
	 	C	Compliance Certificate 
	 	D	Assignment Agreement 
	 	E-1	Closing Date Certificate 
	 	E-2	Solvency Certificate 
	 	F	Counterpart Agreement
	 	G	U.S. Tax Compliance Certificate

 

    vii

     

    

 

This CREDIT AND GUARANTY
AGREEMENT, dated as of September 30, 2021 (as the same may from time to time be amended, restated or otherwise modified, this
 “Agreement”), is entered into by and among HPI HOLDCO, LLC, a Delaware limited liability company (“Borrower”),
HPI HOLDINGS LLC, a Delaware limited liability company (“Holdings”) and certain Subsidiaries of Holdings, as
Guarantors, the Lenders party hereto from time to time and CRESTLINE DIRECT FINANCE, L.P. (“Crestline”), as
Administrative Agent (in such capacity, together with its successors and permitted assigns “Administrative Agent”),
Collateral Agent (in such capacity, together with its successors and permitted assigns, “Collateral Agent”) and Sole
Lead Arranger (in such capacity, together with its successors and assigns, “Sole Lead Arranger”).

 

RECITALS:

 

A.            Capitalized
terms used in these Recitals shall have the respective meanings set forth for such terms in Section 1.1 hereof.

 

B.            AHS
Granite Merger Sub, Inc., a Delaware corporation, intends to merge with and into AdvantEdge Healthcare Holdings, Inc., a Delaware
corporation (the “Target”), pursuant to the terms of that certain Agreement and Plan of Merger, dated as of September 30,
2021 (the “Closing Date Acquisition Agreement”), by and among Holdings, AHS Granite Merger Sub, Inc., Shareholder
Representative Services LLC, a Colorado limited liability company and the Target, such that, after the consummation of such merger, (i) Target
shall be the survivor of such merger and (ii) Target and all of its direct and indirect Subsidiaries will be indirect wholly-owned
Subsidiaries of Holdings on the Closing Date (the “Closing Date Acquisition”).

 

C.            Lenders
have agreed to extend certain credit facilities to Borrower, in an aggregate principal amount equal to $57,000,000, consisting of (a) $55,000,000
aggregate principal amount of Term Loans and (b) $2,000,000 aggregate principal amount of Revolving Commitments, on the terms and
subject to the conditions set forth herein.

 

D.            Borrower
has agreed to secure all of its Obligations by granting to Collateral Agent, for the benefit of Secured Parties, a First Priority Lien
on substantially all of its assets, including a pledge of all of the Capital Stock of each of its Subsidiaries (other than the Indian
Subsidiaries).

 

E.            Guarantors
have agreed to guarantee the obligations of Borrower hereunder and to secure their respective Obligations by granting to Collateral Agent,
for the benefit of Secured Parties, a First Priority Lien on substantially all of their respective assets, including a pledge of all of
the Capital Stock of each of their respective Subsidiaries (other than the Indian Subsidiaries).

 

F.             Immediately
upon the consummation of the Closing Date Acquisition and the making of the Term Loans hereunder, and after giving effect to the Guarantor
Assumption, Target and its Domestic Subsidiaries shall each become a Guarantor hereunder.

 

    

     

    

 

AGREEMENT:

 

In consideration of the premises
and the agreements, provisions and covenants herein contained, the parties hereto agree as follows:

 

SECTION 1.        DEFINITIONS
AND INTERPRETATION

 

1.1           Definitions.
The following terms used herein, including in the preamble, recitals, exhibits and schedules hereto, shall have the following meanings:

 

“Acquired Entity”
as defined in Section 6.9(s).

 

“Act” as defined in Section 4.24.

 

“Adjusted LIBOR Rate”
means, for any Interest Rate Determination Date with respect to an Interest Period for a LIBOR Rate Loan, the greater of (a) the
rate per annum obtained by dividing (and rounding upward to the next whole multiple of 1/16 of 1%) (i)(A) the rate per annum (rounded
to the nearest 1/16 of 1%) equal to the rate determined by Administrative Agent to be the offered rate which appears on the page of
the applicable Bloomberg LP page (or on any successor or substitute page of such service or any successor to such service, or
such other commercially available source providing such quotations as may be designated by Administrative Agent from time to time) for
deposits (for delivery on the first day of such period) with a term equivalent to such period in Dollars, available as of approximately
11:00 a.m. (London, England time) on such Interest Rate Determination Date (the “LIBOR Screen Rate”), or (B) in
the event the rate referenced in the preceding clause (a)(i)(A) is not available, the rate per annum (rounded to the nearest
1/16 of 1%) equal to the offered quotation rate to Administrative Agent by first class banks in the London interbank market for deposits
(for delivery on the first day of the relevant period) in Dollars of amounts in same day funds comparable to the principal amount of the
applicable Loans for which the Adjusted LIBOR Rate is then being determined with maturities comparable to such period as of approximately
11:00 a.m. (London, England time) on such Interest Rate Determination Date, by (ii) an amount equal to (A) one, minus
(B) the Applicable Reserve Requirement and (b) 1.00% per annum.

 

“Administrative Agent” as defined in the
preamble hereto.

 

“Adverse Proceeding”
means any action, suit, proceeding (whether administrative, judicial or otherwise), governmental investigation or arbitration (whether
or not purportedly on behalf of Holdings or any of its Subsidiaries) at law or in equity, or before or by any Governmental Authority,
domestic or foreign (including any Environmental Claims), whether pending or, to the knowledge of Holdings or any of its Subsidiaries,
threatened against or affecting Holdings or any of its Subsidiaries or any property of Holdings or any of its Subsidiaries.

 

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

 

“Affected Lender” as defined in Section 2.18(b).

 

“Affected Loans” as defined in Section 2.18(b).

 

“Affiliate”
means, as applied to any Person, any other Person directly or indirectly controlling (including any member of the senior management group
of such Person), controlled by, or under common control with, that Person. For the purposes of this definition, “control”
(including, with correlative meanings, the terms “controlling,” “controlled by” and “under common control
with”), as applied to any Person, means the possession, directly or indirectly, of the power (i) to vote 10% or more of the
Securities having ordinary voting power for the election of directors, managing members, managers or general partners of such Person,
or (ii) to direct or cause the direction of the management and policies of that Person, whether through the ownership of voting securities
or by contract or otherwise; provided that the Manager shall constitute an Affiliate of Holdings and its Subsidiaries.

 

    2

     

    

 

“Agent” means each of Administrative Agent
and Collateral Agent.

 

“Aggregate Amounts Due” as defined in Section 2.17.

 

“Aggregate Payments” as defined in Section 7.2.

 

“Agreement” as defined in the preamble hereto.

 

“Anticipated Cure Deadline” as defined in Section 6.8(d).

 

“Anti-Corruption Laws”
means, with respect to any Person, all laws of any jurisdiction applicable to such Person from time to time concerning or relating to
bribery or corruption, including, without limitation, the United States Foreign Corrupt Practices Act of 1977, as amended.

 

“Anti-Money Laundering
Laws” means any and all laws, judgments, executive orders, decrees, ordinances, rules, regulations, statutes, case law or treaties
applicable to Holdings or any of its Subsidiaries related to terrorism financing or money laundering, including any applicable provision
of the Patriot Act and The Currency and Foreign Transactions Reporting Act (also known as the “Bank Secrecy Act,” 31 U.S.C.
 §§ 5311-5330 and 12 U.S.C. §§ 1818(s), 1820(b) and 1951-1959).

 

“Applicable Margin”
means (a) with respect to LIBOR Rate Loans, a percentage per annum equal to 8.00%, and (b) with respect to Base Rate Loans,
a percentage per annum equal to 7.00%.

 

“Applicable Reserve
Requirement” means, at any time, for any LIBOR Rate Loan, the maximum rate, expressed as a decimal, at which reserves (including
any basic marginal, special, supplemental, emergency or other reserves) are required to be maintained with respect thereto against “Eurocurrency
liabilities” (as such term is defined in Regulation D) under regulations issued from time to time by the Board of Governors of the
Federal Reserve System or other applicable banking regulator. Without limiting the effect of the foregoing, the Applicable Reserve Requirement
shall reflect any other reserves required to be maintained by such member banks with respect to (a) any category of liabilities which
includes deposits by reference to which the applicable Adjusted LIBOR Rate or any other interest rate of a Loan is to be determined, or
(b) any category of extensions of credit or other assets which include LIBOR Rate Loans. A LIBOR Rate Loan shall be deemed to constitute
 “Eurocurrency liabilities” (as such term is defined in Regulation D) and as such shall be deemed subject to reserve requirements
without benefits of credit for proration, exceptions or offsets that may be available from time to time to the applicable Lender. The
rate of interest on LIBOR Rate Loans shall be adjusted automatically on and as of the effective date of any change in the Applicable Reserve
Requirement.

 

“Approved Fund”
means any Fund that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate
of an entity that administers or manages a Lender or an Affiliate of a Lender.

 

“Asset Sale”
means a sale, lease or sub-lease (as lessor or sublessor), sale and leaseback, assignment, conveyance, transfer, grant an exclusive license
not limited by territory or use, or other disposition to, or any exchange of property with, any Person, in one transaction or a series
of transactions, of all or any part of any Credit Party’s businesses, assets or properties of any kind, whether real, personal,
or mixed and whether tangible or intangible, whether now owned or hereafter acquired, including, without limitation, the Capital Stock
of any Credit Party, other than inventory sold or leased in the ordinary course of business. For purposes of clarification, “Asset
Sale” shall include the sale or other disposition for value of any contracts.

 

“Asset Sale Reinvestment Amounts” as defined
in in Section 2.14(a).

 

    3

     

    

 

“Assignment Agreement” means an
Assignment Agreement substantially in the form of Exhibit D, with such amendments or modifications as may be approved by Administrative
Agent.

 

“Authorized Officer”
means, as applied to any Person, any individual holding the position of chairman of the board (if an officer), chief executive officer,
president or one of its vice presidents (or the equivalent thereof), and such Person’s chief financial officer or treasurer.

 

“Availability”
means, on any date of determination and computed on a pro forma basis, (a) the product of (i) the sum of the trailing twelve
months Consolidated Adjusted EBITDA as of the last day of the month for which financial statements have been delivered pursuant to Section 5.1(a) multiplied
by (ii)  the maximum Total Leverage Ratio permitted pursuant to Section 6.8(b) as
of the last day of the Fiscal Quarter ended on or immediately prior to such date of determination less (b) the sum of (i) the
aggregate principal balance of the Revolving Loans as of such date of determination and (ii) all other Consolidated Total Debt as
of such date of determination.

 

“Available Tenor”
means, as of any date of determination and with respect to the then- current Benchmark, as applicable, (x) if the then-current Benchmark
is a term rate, any tenor for such Benchmark that is or may be used for determining the length of an Interest Period or (y) otherwise,
any payment period for interest calculated with reference to such Benchmark, as applicable, pursuant to this Agreement as of such date.

 

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

 

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

 

“Bankruptcy Code”
means Title 11 of the United States Code entitled “Bankruptcy,” as now and hereafter in effect, or any successor statute.

 

“Base Rate”
means, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such day, (b) the Federal Funds
Effective Rate in effect on such day plus 0.50%, (c) 4.00% and (d) the Adjusted LIBOR Rate determined on a daily basis for an
Interest Period of one month plus 1.00%; provided, that each change in the any of the rates described above in this definition
shall be effective from and including the date such change is announced as being effective.

 

“Base Rate Loan” means a Loan bearing interest
at a rate determined by reference to the Base Rate.

 

“Benchmark” means, initially, Adjusted
LIBOR Rate; provided that if a replacement of the Benchmark has occurred pursuant to Section 1.4, then
 “Benchmark” means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such
prior benchmark rate; provided, further, that any reference to “Benchmark” shall include, as applicable,
the published component used in the calculation thereof.

 

    4

     

    

 

“Benchmark Replacement”
means, for any Available Tenor:

 

		(1)	for purposes of clause (a) of Section 1.4, the first alternative set forth below that can be determined by Administrative
Agent:

 

		(a)	the sum of: (i) Term SOFR and (ii) 0.11448% (11.448 basis points) for an Available Tenor of one-month’s duration,
0.26161% (26.161 basis points) for an Available Tenor of three-months’ duration, and 0.42826% (42.826 basis points) for an Available
Tenor of six-months’ duration, or

 

		(b)	the sum of: (i) Daily Simple SOFR and (ii) the spread adjustment selected or recommended by the Relevant Governmental Body
for the replacement of the tenor of Adjusted LIBOR Rate with a SOFR-based rate having approximately the same length as the interest payment
period specified in clause (a) of this Section; and

 

		(2)	for purposes of clause (b) of Section 1.4, the sum of (a) the alternate benchmark rate and (b) an adjustment (which may be a
positive or negative value or zero), in each case, that has been selected by Administrative Agent and Borrower as the replacement for
such Available Tenor of such Benchmark giving due consideration to (i) any evolving or then- prevailing market convention, including
any applicable recommendations made by the Relevant Governmental Body, for U.S. dollar-denominated syndicated credit facilities at such
time and (ii) whether the alternate benchmark rate will give rise to a deemed exchange of any Loans for purposes of Treasury Regulations
Section 1.1001-3 (or any successor provisions);

 

provided
that, if the Benchmark Replacement as determined pursuant to clause (1) or (2) above would be less than the Floor, the Benchmark
Replacement will be deemed to be the Floor for the purposes of this Agreement and the other Credit Documents.

 

Any Benchmark Replacement shall be applied in
a manner consistent with market practice; provided that to the extent such market practice is not administratively feasible for
Administrative Agent, such Benchmark Replacement shall be applied in a manner as otherwise reasonably determined by Administrative Agent.

 

“Benchmark Replacement
Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including
changes to the definition of “Base Rate,” the definition of “Business Day,” the definition of “Interest
Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment,
conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other
technical, administrative or operational matters) that Administrative Agent decides may be appropriate to reflect the adoption and implementation
of such Benchmark Replacement and to permit the administration thereof by Administrative Agent in a manner substantially consistent with
market practice (or, if Administrative Agent decides that adoption of any portion of such market practice is not administratively feasible
or if Administrative Agent determines that no market practice for the administration of such Benchmark Replacement exists, in such other
manner of administration as Administrative Agent decides is reasonably necessary in connection with the administration of this Agreement
and the other Credit Documents).

 

    5

     

    

 

“Benchmark
Transition Event” means, with respect to any then-current Benchmark other than Adjusted LIBOR Rate, the occurrence of a
public statement or publication of information by or on behalf of the administrator of the then-current Benchmark, the regulatory
supervisor for the administrator of such Benchmark, the Board of Governors of the Federal Reserve System, the Federal Reserve Bank
of New York, an insolvency official with jurisdiction over the administrator for such Benchmark, a resolution authority with
jurisdiction over the administrator for such Benchmark or a court or an entity with similar insolvency or resolution authority over
the administrator for such Benchmark, announcing or stating that (a) such administrator has ceased or will cease on a specified
date to provide all Available Tenors of such Benchmark, permanently or indefinitely, provided that, at the time of such
statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark or
(b) all Available Tenors of such Benchmark are or will no longer be representative of the underlying market and economic
reality that such Benchmark is intended to measure and that representativeness will not be restored.

 

“Beneficial Ownership Certification”
means a certification regarding beneficial ownership as required by the Beneficial Ownership Regulation.

 

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

 

“Beneficiary” means each Agent, Lender and
Lender Counterparty.

 

“Benefit Plan”
means any of (a) an “employee benefit plan” (as defined in ERISA) that is subject to Title I of ERISA, (b) a “plan”
as defined in and subject to Section 4975 of the Code, or (c) any Person whose assets include (for purposes of ERISA Section 3(42)
or otherwise for purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan”
or “plan”.

 

“Blocked Account” as defined in Section 5.20.

 

“Blocked Account Release
Condition” means, on any date of determination following the Closing Date, the Monitor shall have ceased to have supervisory
powers, directly or indirectly, with respect to the Sponsor and the Credit Parties (whether pursuant to a termination, amendment or other
modification of the Monitor Order, or otherwise).

 

“Borrower” as defined in the preamble hereto.

 

“Business Day”
means (a) any day excluding Saturday, Sunday and any day which is a legal holiday under the laws of the State of New York or the
State of Texas or is a day on which banking institutions located in either such state are authorized or required by law or other governmental
action to close, and (b) with respect to all notices, determinations, fundings and payments in connection with the Adjusted LIBOR
Rate or any LIBOR Rate Loans, the term “Business Day” means any day which is a Business Day described in clause
(a) and which is also a day for trading by and between banks in Dollar deposits in the London interbank market.

 

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

 

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

 

“Cash”
means money, currency or a credit balance in any demand or Deposit Account; provided, however, that notwithstanding
anything to the contrary contained herein, for purposes of calculating compliance with the requirements of Sections 3 and 6
hereof “Cash” shall exclude any amounts that would not be considered “cash” under GAAP.

 

    6

     

    

 

“Cash
Equivalents” means, as of any date of determination, (a) marketable securities (i) issued or directly and
unconditionally guaranteed as to interest and principal by the United States Government, or (ii) issued by any agency of the
United States the obligations of which are backed by the full faith and credit of the United States, in each case maturing within
one year after such date; (b) marketable direct obligations issued by any state of the United States of America or any
political subdivision of any such state or any public instrumentality thereof, in each case maturing within one year after such date
and having, at the time of the acquisition thereof, a rating of at least A-1 from S&P or at least P-1 from Moody’s;
(c) commercial paper maturing no more than one year from the date of creation thereof and having, at the time of the
acquisition thereof, a rating of at least A-1 from S&P or at least P-1 from Moody’s; (d)  certificates
of deposit or bankers’ acceptances maturing within one year after such date and issued or accepted by any Lender or by any
commercial bank organized under the laws of the United States of America or any state thereof or the District of Columbia that
(i) is at least “adequately capitalized” (as defined in the regulations of its primary Federal banking regulator),
and (ii) has Tier 1 capital (as defined in such regulations) of not less than $100,000,000; and (e) shares of any money
market mutual fund that (i) has substantially all of its assets invested continuously in the types of investments referred to
in clauses (a) and (b) above, (ii) has net assets of not less than $500,000,000, and (iii) has the highest
rating obtainable from either S&P or Moody’s.

 

“CFC” means
a “controlled foreign corporation” within the meaning of Section 957(a) of the Internal Revenue Code of 1986, as
amended.

 

“CFC Holding Company”
means a Subsidiary substantially all of whose assets consist of the equity interests and/or Indebtedness of one or more CFCs (directly
or indirectly through entities that are disregarded for U.S. federal tax purposes).

 

“Change in Law”
means the occurrence, after the date of this Agreement, of any of the following: (a) the adoption or taking effect of any law, rule,
regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation
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) by any Governmental Authority; provided that notwithstanding anything herein to the contrary, (x) the
Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection
therewith and (y) 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.

 

    7

     

    

 

“Change of
Control” means, at any time, (a) Sponsor shall cease to own and control, directly or indirectly, more than 65% on a
fully diluted basis of the economic and voting interests in the Capital Stock of Holdings; (b) any Person or
 “group” (within the meaning of Rules 13d 3 and 13d 5 under the Exchange Act) other than Sponsor (i) shall have
acquired beneficial ownership (as defined in Rules 13d-3 and 13d-5 under the Exchange Act) of 35% or more on a fully diluted
basis of the voting and/or economic interest in the Capital Stock of Holdings or (ii) shall have obtained the power (whether or
not exercised) to elect a majority of the members of the board of directors (or similar governing body) of Holdings;
(c) Holdings shall cease to beneficially own and control 100% on a fully diluted basis of the economic and voting interest in
the Capital Stock of Borrower; (d) the majority of the seats (other than vacant seats) on the board of directors (or similar
governing body) of Holdings or Manager, respectively, cease to be occupied by Persons who (i) either (A) were members of
the board of directors of Holdings or Manager, respectively, on the Closing Date, or (B) were nominated for election by the
board of directors of Holdings or Manager, respectively, a majority of whom were directors on the Closing Date or whose election or
nomination for election was previously approved by a majority of such directors or (ii) are not Independent Directors;
(e) the failure of Borrower to own directly or indirectly, beneficially and of record, 100% on a fully diluted basis of the
economic and voting interest in the Capital Stock of each Subsidiary (or, with respect to the Indian Subsidiaries, such lesser
percentage as may be owned, directly or indirectly, as of the Closing Date); (f) any “change of control” or similar
event under any other agreement governing Indebtedness of Holdings or any of its Subsidiaries; (g) any member of the board of
directors (or similar governing body) that is not a member as of the Closing Date does not have a background check performed by a
recognized service provider, the results of which background check are acceptable to Administrative Agent in its sole discretion;
(h) any of David Gentile, Jeffry Schneider or Jeffrey Lash become general partner of the Sponsor, the manager of the Sponsor GP
or the Manager or otherwise control the management or policies of any of the Sponsor, the Sponsor GP, the Manager, Holdings or any
of its Subsidiaries; (i) [reserved]; or (j) the Manager (i) ceases to manage Sponsor GP pursuant to and in accordance
with the Management Agreement and (ii) shall not have been replaced with a Person that is reasonably acceptable to
Administrative Agent to serve as manager of the Sponsor within 180 days after the Manager has so ceased to manage the Sponsor.
Notwithstanding anything to the contrary in the foregoing, no “Change of Control” shall be deemed to have occurred for
purposes of this Agreement or any other Credit Document if a receiver shall have been appointed with respect to the Sponsor or the
Sponsor GP in circumstances where (i) no Change of Control under clause (c), clause (d), clause (e), clause (g), clause
(h) or clause (j) of this definition shall have occurred, and (ii) (A) each of Michael Frost and Daniel Rainey
are authorized by the Manager to direct and manage the assets of the Manager, as (x) officers, (y) employees or
(z) pursuant to a contract or service agreement reasonably acceptable to Administrative Agent, or (B) if at any time
Michael Frost and/or Daniel Rainey shall cease to hold such position or authority, the Borrower shall have given the Administrative
Agent at least 10 calendar days prior written notice of (x) such impending departure, (y) the departure date and
(z) the name of the proposed replacement person, and then the Administrative Agent shall have 10 calendar days to approve such
proposed candidate (such approval not to be unreasonably withheld, delayed or conditioned), or if such candidate is not approved, to
notify the Borrower, at which time the Borrower will propose an alternate candidate, subject to the same approval procedure (except
for the 10 calendar day approval period in favor of the Administrative Agent, which shall not recommence or restart upon the
Administrative Agent not approving the proposed candidate), provided, that (I) no “Change of Control” will be
deemed to have occurred due to such departure while Administrative Agent is considering a replacement candidate, and (II) if a
departure occurs by reason of death or incapacity or without 10 day notice by the departing party, then the time for the Borrower to
give notice shall begin on the day following its receipt of knowledge of such death or incapacity or lack of notice.

 

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

 

“Closing Date”
means the date on which the Term Loans are made.

 

“Closing Date Acquisition” as defined in the recitals hereto.

 

“Closing Date Acquisition Agreement” as defined
in the recitals hereto.

 

“Closing Date Acquisition Documents” as defined in Section 3.1(b).

 

“Closing Date Certificate” means a Closing Date
Certificate substantially in the form of Exhibit E-1.

 

    8

     

    

 

“Collateral”
means, collectively, all of the real, personal and mixed property (including Capital Stock) in which Liens are purported to be granted
pursuant to the Collateral Documents as security for the Obligations. For the avoidance of doubt, the term “Collateral”
shall exclude the Excluded Assets.

 

“Collateral Agent” as defined in the preamble
hereto.

 

“Collateral Assignments”
means each of the following, in each case, dated as of the Closing Date: (a) that certain Collateral Assignment of Rights Under Business
Interruption Insurance Policy, by Holdings in favor of the Collateral Agent (“Collateral Assignment of BI Insurance”);
(b) that certain Collateral Assignment of Buyer-Side Representations and Warranties Insurance Policy as Collateral Security, by Holdings
in favor of the Collateral Agent; and (c) that certain Collateral Assignment of Rights under Agreement and Plan of Merger, by Holdings
in favor of the Collateral Agent.

 

“Collateral Documents”
means the Pledge and Security Agreement, the Mortgages (if any), the Landlord Collateral Access Agreements (if any), the Foreign Collateral
Documents, the Collateral Assignments, all deposit account control agreements and securities account control agreements and all other
instruments, documents and agreements delivered by any Credit Party pursuant to this Agreement or any of the other Credit Documents in
order to grant to Collateral Agent, for the benefit of Secured Parties, a Lien on any real, personal or mixed property of that Credit
Party as security for the Obligations, in each case, as and when entered into by the applicable Credit Parties.

 

“Commitment”
means any Revolving Commitment and/or any Term Loan Commitment, as the context may require.

 

“Commodity Exchange
Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended and in effect from time to time, and any successor
statute.

 

“Company Information
Systems” means the computer, information technology and data processing systems used by Holdings or any of its Subsidiaries,
including all software, hardware, networks, platforms and related systems (including any of the foregoing offered as a software-as-a-service
model), including those hosted by or outsourced to third parties such as cloud service providers and used by Holdings or any of its Subsidiaries.

 

“Company Stockholders” as defined in the
Closing Date Acquisition Agreement.

 

“Compliance Certificate” means a Compliance Certificate
substantially in the form of Exhibit C.

 

“Compliance Program” as defined in Section 5.18(c).

 

“Connection Income Taxes” means Other Connection
Taxes that are imposed on or measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes.

 

“Consolidated Adjusted EBITDA”
means, for any period, an amount determined for Holdings and its Subsidiaries on a consolidated basis equal to

 

(a)   the
sum, without duplication, of the amounts for such period of

 

		(i)	Consolidated Net Income, and

 

		(ii)	to the extent deducted in calculating Consolidated Net Income,

 

(A)          Consolidated
Interest Expense,

 

    9

     

    

 

 (B)           provisions for taxes based on income (or franchise taxes imposed in lieu of income taxes),

 

 (C)           total depreciation expense,

 

 (D)          total amortization expense,

 

(E)           reasonable and customary Transaction Costs;
provided such Transaction Costs are in an aggregate amount not to exceed $2,500,000,

 

(F)           financing
fees and documented out-of-pocket expenses (including, without limitation, of advisors, legal counsels, agents or representatives of Administrative
Agent or the Lenders, but specifically excluding payments made to Sponsor or its affiliates) incurred and payable pursuant to or in connection
with any amendment, consent, waiver or modification to the Credit Documents or the administration thereof,

 

(G)           pro
forma adjustments, including pro forma “run rate” cost savings, operating expense reductions, operational improvements and
other cost synergies (in each case, net of actual amounts realized (and excluding, for the avoidance of doubt, any revenue and lost revenues))
related to (i) the Closing Date Acquisition, and (ii) any Permitted Acquisition, disposition (including the termination or
discontinuance of activities constituting a business) or other restructuring, specified investment or transaction, or related to any
restructuring initiative, cost savings initiative or other initiative (excluding the effect of increased pricing in customer contracts
or the renegotiation of contracts or other arrangements) expressly permitted by the terms of this Agreement, in each case, that are projected
by the Borrower in good faith to result from actions taken, committed to be taken or expected to be taken no later than 18 months after
the consummation of the Closing Date Acquisition, such Permitted Acquisition, such permitted disposition or other restructuring investment,
transaction or restructuring or similar initiative, as applicable (which amounts will be determined by such Person in good faith and
calculated on a pro forma basis as though such amounts had been realized on the first day of such period), net of the amount of actual
benefits realized during such period from such action; provided that the aggregate amount added back pursuant to this subclause
(G) shall not exceed for any trailing 12-month period (x) $1,700,000 for the Fiscal Quarters ending on or prior to September 30,
2022 or (y) $200,000 for the Fiscal Quarters ending on and after December 31, 2022,

 

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

 

(I)             reasonable
compensation, expenses and indemnification payments incurred with respect to outside directors on the board of directors (or similar
governing body) of the Credit Parties up to $100,000 in any trailing 12-month period,

 

(J)            (i) the
amount of earn-out, deferred purchase price, purchase price adjustment or other contingent obligation expense and any adjustment thereof
incurred in connection with any Permitted Acquisition or Investment expressly permitted by the terms of this Agreement occurring after
the Closing Date to the extent (1) such earn-out or contingent consideration obligation is expressly permitted hereunder to be (x) incurred
at the time of incurrence (with respect to Permitted Acquisitions) and (y) paid at the time of payment (with respect to any acquisition
or Investment) and (2) such earn-out or other contingent consideration obligation is deducted in the calculation of Consolidated
Net Income for such period; provided that the aggregate amount added back pursuant to this clause (J)(i) shall not exceed $100,000
for any trailing 12-month period, and (ii) the amount of the Earnout Payment paid to the Company Stockholders pursuant to the Closing
Date Acquisition Agreement,

 

    10

     

    

 

(K)           unrealized
or realized net non-cash losses in the fair market value of any arrangements under Hedging Transactions,

 

(L)            proceeds
of business interruption insurance actually received in an amount representing the earnings for the applicable period that such proceeds
are intended to replace,

 

(M)          any
non-cash charge, expense, cost, accrual, reserve or loss of any kind incurred in connection with (i) any management equity plan,
profits interest or stock option plan or other management or employee benefit plan or agreement, any pension plan (including any post-employment
benefit scheme which has been agreed to with the relevant pension trustee), any stock subscription or shareholder agreement, any employee
benefit trust, any employment benefit scheme or any similar equity plan or agreement (including any deferred compensation arrangement),
(ii) the rollover, acceleration, payout or repurchase of any equity interest held by management and (iii) the granting of any
stock, stock option or similar arrangement (including any profits interest), the granting of any restricted stock, stock appreciation
right and/or similar arrangement; provided that the aggregate amount added back pursuant to this clause (M) shall not exceed $1,000,000
in any consecutive four quarter period,

 

(N)           one-time
integration expenses incurred in respect of any items which are reasonably identifiable and related to any transaction, investment, restructuring,
cost saving initiative or other initiative, in each case, for any charges, expense, cost, accrual, reserve or loss of any kind, attributable
to business integration activities, cost rationalization programs, operating expense reductions and/or cost synergies and/or similar initiatives,
any restructuring charge (including any charge relating to any tax restructuring), any charge relating to the closure or consolidation
of any facility (including but not limited to rent termination costs, moving costs and legal costs), any systems design or implementation
charges (whether expensed or capitalized) related to business systems in respect of ERP, HRIS, CRM, payroll, order to cash, record to
report, procure to pay and T&E/expense management and paid to third-party consultants, any severance charge, any signing, retention
or completion bonus, any expansion and/or relocation charge and any charge associated with any modification to any pension and post-retirement
employee benefit plan; provided that the aggregate amount added back pursuant to this clause (N), shall not exceed (i) with
respect to the Closing Date Acquisition, $2,000,000 and (ii) with respect to any other transaction expressly permitted hereunder
after the Closing Date, 2.5% of Consolidated Adjusted EBITDA (calculated before giving effect to any increase pursuant to this clause
(N)),

 

(O)           integration
incentive bonuses paid in connection with the Closing Date Acquisition, in an aggregate amount not to exceed $1,200,000, and

 

(P)           employee
retention bonuses paid in connection with integration activities of the Closing Date Acquisition in an aggregate amount not to exceed
$1,100,000; minus

 

		(b)	the sum, without duplication, of the amounts for such period of

 

(i)     other
non-Cash items increasing Consolidated Net Income for such period (excluding any such non Cash item to the extent it represents the reversal
of an accrual or reserve for potential Cash item in any prior period);

 

(ii)    unrealized
or realized net non-cash gains in the fair market value of any arrangements under Hedging Transactions;

 

(iii)   the
amount added back to Consolidated Adjusted EBITDA pursuant to clause (a)(ii)(L) above (as described in such clause) to the extent
the relevant proceeds were not received within the time period required by such clause;

 

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(iv)   to
the extent that such Person adds back the amount of any non-cash charge to Consolidated Adjusted EBITDA pursuant to clause (a)(ii)(H) above,
the cash payment in respect thereof in the relevant future period;

 

 (v)    interest income;

 

 (vi)   other non-ordinary course income; and

 

 (vii)  the amount of capitalized software development costs;

 

provided,
that the aggregate amount added back to Consolidated Adjusted EBITDA pursuant to clauses (a)(ii)(G), (a)(ii)(I), (a)(ii)(J), (a)(ii)(M) and
(a)(ii)(N) for (i) any trailing 12-month period ending on and prior to December 31, 2022 shall not exceed thirty percent
(30%) and (ii) any trailing 12-month period thereafter shall not exceed fifteen percent (15%), in each case, of Consolidated Adjusted
EBITDA for such period (prior to giving effect to all add-backs pursuant to clauses (a)(ii)(G), (a)(ii)(I), (a)(ii)(J), (a)(ii)(M) and
(a)(ii)(N) for such period);

 

provided further,
however, that for the purposes of calculating Consolidated Adjusted EBITDA for any period that includes one or more of the fiscal
months set forth below, Consolidated Adjusted EBITDA with respect to each such fiscal month shall be deemed to equal the amount set
forth below for each such fiscal month (without duplication):

 

	Fiscal Month	 	Consolidated Adjusted EBITDA	 
	September 2020	 	$	1,343,852	 
	October 2020	 	$	1,244,704	 
	November 2020	 	$	1,534,726	 
	December 2020	 	$	1,238,826	 
	January 2021	 	$	740,098	 
	February 2021	 	$	1,274,364	 
	March 2021	 	$	1,164,788	 
	April 2021	 	$	1,400,946	 
	May 2021	 	$	1,176,533	 
	June 2021	 	$	1,375,097	 
	July 2021	 	$	1,199,697	 
	August 2021	 	$	1,263,144	 

 

“Consolidated Capital
Expenditures” means, for any period, the aggregate of all expenditures of Holdings and its Subsidiaries during such period determined
on a consolidated basis that, in accordance with GAAP, are or should be included in “purchase of property and equipment or which
should otherwise be capitalized” or similar items reflected in the consolidated statement of cash flows of Holdings and its Subsidiaries.

 

“Consolidated Cash
Interest Expense” means, for any period, Consolidated Interest Expense for such period based upon GAAP, excluding any paid-in-kind
interest, amortization of deferred financing costs, and any realized or unrealized gains or losses attributable to Hedging Transactions.

 

“Consolidated Current
Assets” means, as at any date of determination, the total assets of Holdings and its Subsidiaries on a consolidated basis that
may properly be classified as current assets in conformity with GAAP, excluding Cash and Cash Equivalents.

 

    12

     

    

 

“Consolidated Current
Liabilities” means, as at any date of determination, the total liabilities of Holdings and its Subsidiaries on a consolidated
basis that may properly be classified as current liabilities in conformity with GAAP, excluding the current portion of long term debt.

 

“Consolidated Excess
Cash Flow” means, for any period, an amount (if positive) determined for Holdings and its Subsidiaries on a consolidated basis
equal to (a) the sum, without duplication, of the amounts for such period of (i) Consolidated Adjusted EBITDA (without giving
effect to clause (a)(ii)(G) of the definition thereof), (ii) interest income, (iii) other non-ordinary course income (excluding
any gains or losses attributable to Asset Sales), and (iv) the Consolidated Working Capital Adjustment, minus (b) the
sum, without duplication, of the amounts for such period of (i) voluntary and scheduled repayments of Indebtedness (excluding repayments
of revolving loans except to the extent the related revolving commitments are permanently reduced in connection with such repayments),
(ii) Consolidated Capital Expenditures (net of any proceeds of (x) Net Asset Sale Proceeds to the extent reinvested in accordance
with Section 2.14(a), (y) Net Insurance/Condemnation Proceeds to the extent reinvested in accordance with Section 2.14(b),
and (z) any proceeds of related financings with respect to such expenditures), (iii) Consolidated Cash Interest Expense, (iv) provisions
for current taxes based on income of Holdings and its Subsidiaries (or franchise taxes imposed in lieu of such income taxes) and payable
in cash with respect to such period, (v) Permitted Tax Distributions attributable to such period, (vi) other amounts added to
Consolidated Net Income or Consolidated Adjusted EBITDA pursuant to the definitions thereof, in each case, to the extent paid in Cash
(or, in the case of proceeds of insurance, received in Cash), (vii) the amount of any Tax obligation of Holdings and/or any of its
Subsidiaries that is estimated in good faith by Holdings and agreed to by the Administrative Agent as due and payable (but is not currently
due and payable) by Holdings and/or any of its Subsidiaries within four quarters following end of the relevant Fiscal Year as a result
of the repatriation of any dividend or similar distribution of net income of any Foreign Subsidiary to Holdings and/or any Subsidiary
of Holdings, and (viii) the purchase price paid in Cash for all Permitted Acquisitions permitted pursuant to this Agreement (other
than any Investments in any Credit Party or in any Person which was already a Subsidiary or Investments in Cash and Cash Equivalents),
to the extent such payments are not funded with the proceeds of Indebtedness (other than Revolving Loans), the proceeds of capital contributions
from Permitted Holders or their Affiliates or the issuance of Capital Stock.

 

“Consolidated Fixed
Charges” means, for any period, the sum, without duplication, of the amounts determined for Holdings and its Subsidiaries on
a consolidated basis equal to (a) Consolidated Cash Interest Expense, (b) scheduled payments of principal on Consolidated Total
Debt, (c) Consolidated Capital Expenditures and (d) the current portion of taxes provided for with respect to such period in
accordance with GAAP.

 

“Consolidated Interest
Expense” means, for any period, total interest expense (including that portion attributable to Capital Leases in accordance
with GAAP and capitalized interest) of Holdings and its Subsidiaries on a consolidated basis with respect to all outstanding Indebtedness,
including all commissions, discounts and other fees and charges owed with respect to letters of credit and net costs under Hedging Transactions.

 

“Consolidated Net
Income” means, for any period, (a) the net income (or loss) of Holdings and its Subsidiaries on a consolidated basis
for such period taken as a single accounting period determined in conformity with GAAP, minus (b) the sum of
(i) the income (or loss) of any Person (other than a Subsidiary of Holdings) in which any other Person (other than Holdings or
any of its Subsidiaries) has a joint interest, (ii) the income (or loss) of any Person accrued prior to the date it becomes a
Subsidiary of Holdings or is merged into or consolidated with Holdings or any of its Subsidiaries or that Person’s assets are
acquired by Holdings or any of its Subsidiaries, (iii) the income of any Subsidiary of Holdings to the extent that the
declaration or payment of dividends or similar distributions by that Subsidiary of that income is not at the time permitted by
operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental
regulation applicable to that Subsidiary, (iv) any gains or losses attributable to Asset Sales or returned surplus assets of
any Pension Plan, and (v) to the extent not included in clauses (i) through (iv) above, any net
extraordinary gains or net extraordinary losses.

 

    13

     

    

 

“Consolidated Total
Debt” means, as of any date of determination, the aggregate stated balance sheet amount of all Indebtedness of Holdings and
its Subsidiaries determined on a consolidated basis in accordance with GAAP.

 

“Consolidated Working
Capital” means, as at any date of determination, the excess or deficiency of Consolidated Current Assets over Consolidated Current
Liabilities.

 

“Consolidated Working
Capital Adjustment” means, for any period of determination on a consolidated basis, the amount (which may be a negative number)
by which Consolidated Working Capital as of the beginning of such period exceeds (or is less than) Consolidated Working Capital as of
the end of such period.

 

“Contractual Obligation”
means, as applied to any Person, any indenture, mortgage, deed of trust, contract, undertaking, agreement or other instrument to which
that Person is a party or by which it or any of its properties is bound or to which it or any of its properties is subject.

 

“Contributing Guarantors” as defined in
Section 7.2.

 

“Controlled Account”
means each (a) Deposit Account and Securities Account of a Credit Party located in the United States of America which is subject
to the “control” (as such term is defined in Section 8-106, 9-104 or 9-106 of the UCC, as applicable) of the Collateral
Agent, for the benefit of the Secured Parties, in accordance with the terms of the Pledge and Security Agreement and (b) each Deposit
Account and Securities Account of a Credit Party which is subject to the dominion and control of the Collateral Agent, for the benefit
of the Secured Parties, in accordance with the terms of the relevant Foreign Collateral Documents. For the avoidance of doubt, the term
 “Controlled Account” shall exclude each of the Excluded Accounts.

 

“Conversion/Continuation
Date” means the effective date of a continuation or conversion, as the case may be, as set forth in the applicable Conversion/Continuation
Notice.

 

“Conversion/Continuation
Notice” means a written Conversion/Continuation Notice substantially in the form of Exhibit A-2.

 

“Costa Rican Subsidiary”
means Health Prime Services Costa Rica S.R.L., a limited liability company, duly registered under identity card number 3-102-790012.

 

“Counterpart Agreement” means a Counterpart
Agreement substantially in the form of Exhibit F.

 

“Credit Date” means the date of a Credit
Extension.

 

“Credit Documents”
means, collectively, any of this Agreement, the Notes, if any, each Guaranty, the Collateral Documents, the Fee Letter, the Master Intercompany
Note, the Funding Notice, the Management Fee Subordination Agreement and all other documents, instruments or agreements executed and delivered
by a Credit Party for the benefit of any Agent or any Lender in connection herewith.

 

“Credit Extension” means the making of a
Loan.

 

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“Credit Party”
means Borrower, Holdings and each of their respective direct and indirect Subsidiaries that are Guarantors. For the avoidance of doubt,
Target and its Subsidiaries that are signatories to this Agreement shall be deemed to be Credit Parties (as such term is used herein and
in any other Credit Document) irrespective of the timing of the execution and delivery of this Agreement and the consummation of the Closing
Date Acquisition. Notwithstanding anything to the contrary in this Agreement (including, without limitation, in Section 5.10),
in no event shall the term “Credit Party” include any Indian Subsidiary.

 

“Crestline” as defined in the preamble hereto.

 

“Currency Agreement”
means any foreign exchange contract, currency swap agreement, futures contract, option contract, synthetic or other similar agreement
or arrangement, each of which is for the purpose of hedging the foreign currency risk associated with Holdings’ and its Subsidiaries’
operations and not for speculative purposes.

 

“Customary Bankers
Liens” means Liens arising solely by virtue of any statutory or common law provisions relating to banker’s Liens, Liens
in favor of securities intermediaries, rights of setoff or similar rights and remedies as to Deposit Accounts or Securities Accounts or
other funds maintained with depository institutions or securities intermediaries, and burdening only Deposit Accounts, Securities Accounts
or other funds, as applicable, maintained with such institutions; provided, that no such account is a dedicated cash collateral
account or is subject to restrictions against access by the depositor in excess of those set forth by regulations promulgated by the Board
of Governors of the Federal Reserve System (or equivalent Governmental Authority) and no such account is intended by Holdings or any of
its Subsidiaries to provide Collateral to such institution.

 

“Daily Simple SOFR”
means, for any day, SOFR, with the conventions for this rate (which will include a lookback) being established by Administrative Agent
in accordance with the conventions for this rate recommended by the Relevant Governmental Body for determining “Daily Simple SOFR”
for syndicated business loans; provided, that if Administrative Agent decides that any such convention is not administratively
feasible for Administrative Agent, then Administrative Agent may establish another convention in its reasonable discretion.

 

“Data Breach”
means an actual or reasonably suspected incident involving any unauthorized or unlawful access, acquisition, disclosure, deletion, modification,
copying or use of (a) Personal Information, (b) encryption keys or (c) Company Information Systems.

 

“Debtor Relief Laws”
means the Bankruptcy Code of the United States of America, and all other liquidation, dissolution, administration, conservatorship, bankruptcy,
assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, winding up reorganization (by way of voluntary
arrangement, scheme of arrangement or otherwise), or similar debtor relief laws of the United States or other applicable jurisdictions
from time to time in effect and affecting the rights of creditors generally.

 

“Declined Amount” as defined in Section 2.15(c).

 

“Default” means a condition or
event that, after notice or lapse of time or both, would constitute an Event of Default.

 

“Default Rate” means any interest payable
pursuant to Section 2.10.

 

“Default Period” means, with respect
to any Defaulting Lender, the period commencing on the date it became a Defaulting Lender and ending on the earliest of the following
dates: (a) the date on which all Commitments are cancelled or terminated
and/or the Obligations are declared or become immediately due and payable, (b) the date on which Borrower and Administrative Agent
determine such Lender is no longer a Defaulting Lender under Section 2.21(b), and (c) the date on which Administrative
Agent shall have waived all violations of Section 9.6(c) by such Defaulting Lender in writing.

 

    15

     

    

 

“Defaulting
Lender” means, subject to Section 2.21(b), any Lender that (a) has failed to (i) fund all or any
portion of its Loans within two Business Days of the date such Loans were required to be funded hereunder unless such Lender
notifies Administrative Agent and 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 waived, or (ii) pay to Administrative Agent or any other
Lender any other amount required to be paid by it hereunder within two Business Days of the date when due, (b) has notified
Borrower or Administrative Agent 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 Business Days after written
request by Administrative Agent or Borrower, to confirm in writing to Administrative Agent and 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 Administrative Agent and Borrower), (d) has, or has a direct or
indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Laws, (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 or (iii) becomes the subject of a Bail-In Action; provided that
a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or
any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or
provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or
writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm
any contracts or agreements made with such Lender, or (e) is in violation of Section 9.6(c). Any determination by
Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses (a) through (e)  above
shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.21(b))
upon delivery of written notice of such determination to Borrower and each Lender.

 

“Deposit Account”
means a demand, time, savings, passbook or like account with a bank, savings and loan association, credit union or like organization,
other than an account evidenced by a negotiable certificate of deposit.

 

“Designated Observer” as defined in Section 5.16.

 

“Disqualified Capital
Stock” means any Capital Stock issued by any Person that (a) matures or is mandatorily redeemable pursuant to a sinking
fund obligation or otherwise, (b) is or may become redeemable or repurchaseable by such Person at the option of the holder thereof,
in whole or in part or (c) is convertible or exchangeable at the option of the holder thereof for Indebtedness or Capital Stock described
in this definition, on or prior to, in the case of clause (a), (b) or (c), the first anniversary of the latest
Maturity Date.

 

    16

     

    

 

“Dollar Amount”
means (a) with regard to any Obligation or calculation denominated in Dollars, the amount thereof, and (b) with regard to any
Obligation or calculation denominated in any other currency, the amount of Dollars which is equivalent to the amount so expressed in such
currency at the Spot Rate on the relevant date of determination.

 

“Dollars” and the sign “$”
mean the lawful money of the United States of America.

 

“Domestic Credit Party” means Holdings, Borrower and any Domestic
Subsidiary that is a Guarantor.

 

“Domestic Subsidiary”
means any Subsidiary of Holdings organized under the laws of the United States of America, any State thereof or the District of Columbia.

 

“Early Opt-in Effective
Date” means, with respect to any Early Opt-in Election, the sixth (6th) Business Day after the date notice of such Early Opt-in
Election is provided to the Lenders, so long as Administrative Agent has not received, by 5:00 p.m. (New York City time) on the fifth
(5th) Business Day after the date notice of such Early Opt-in Election is provided to the Lenders, written notice of objection to such
Early Opt-in Election from Lenders comprising the Requisite Lenders.

 

“Early Opt-in Election” means the occurrence
of:

 

		(1)	a notification by Administrative Agent to (or the request by Borrower to Administrative Agent to notify) each of the other parties
hereto that at least five currently outstanding U.S. dollar-denominated syndicated credit facilities at such time contain (as a result
of amendment or as originally executed) a SOFR-based rate (including SOFR, a term SOFR or any other rate based upon SOFR) as a benchmark
rate (and such syndicated credit facilities are identified in such notice and are publicly available for review), and

 

		(2)	the joint election by Administrative Agent and Borrower to trigger a fallback from Adjusted LIBOR Rate and the provision by Administrative
Agent of written notice of such election to the Lenders.

 

“Earnout Escrow Account” as defined in the
Closing Date Acquisition Agreement.

 

“Earnout Escrow Amount” as defined in the
Closing Date Acquisition Agreement.

 

“Earnout Payment” as defined in the Closing
Date Acquisition Agreement.

 

“Earnout Payment Date” as defined in Section 5.19.

 

“EDNY Court” as defined in the definition
of “Monitor”.

 

“EEA Financial Institution”
means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of
an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in
clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of
an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent.

 

“EEA Member Country”
means any of the member states of the European Union, Iceland, Liechtenstein, and Norway.

 

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“EEA Resolution Authority”
means any public administrative authority or any person entrusted with public administrative authority of any EEA Member Country (including
any delegee) having responsibility for the resolution of any EEA Financial Institution.

 

“Electronic Signature” as defined in Section 10.19.

 

“Eligible Assignee”
means any Person that meets the requirements to be an assignee under Sections 10.6(b)(iii) 10.6(b)(v), and 10.6(b)(vi) (subject
to such consents, if any, as may be required under Section 10.6(b)(iii)).

 

“Environmental Claim”
means any notice of violation, claim, action, suit, proceeding, demand, abatement order or other order or directive, by any Governmental
Authority or any other Person, arising (a) pursuant to any actual or alleged violation of any Environmental Law or (b) in connection
with any Release of Hazardous Material.

 

“Environmental Laws”
means any and all current or future foreign or domestic, federal or state (or any subdivision of either of them), statutes, ordinances,
orders, rules, regulations, judgments, Governmental Authorizations, or any other legally binding requirements of Governmental Authorities
relating to (a) any Hazardous Materials Activity; (b) the generation, use, storage, transportation or disposal of Hazardous
Materials; or (c) occupational safety and health or industrial hygiene, as they relate to exposure to Hazardous Materials.

 

“Equity Contribution” as defined in Section 3.1(d).

 

“Equity Cure Investments”
means the Cash proceeds from Capital Stock (other than Disqualified Capital Stock) issued by Holdings (or capital contributions made to
Holdings by its shareholders) for the sole purpose of Holdings’ curing non-compliance with Sections 6.8(a) or (b),
or both of them, as the case may be, in accordance with the provisions of Section 6.8(d).

 

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

 

“ERISA Affiliate” means, any person that for purposes of Title I or
Title IV of ERISA or Section 412 of the Internal Revenue Code would be deemed at any relevant time to be a “single
employer” or otherwise aggregated with Holdings or any of its Subsidiaries under Section 414(b), 414(c), 414(m) or
414(o) of the Internal Revenue Code or Section 4001 of ERISA.

 

“ERISA
Event” means (a) any “reportable event” as defined in Section 4043 of ERISA with respect to a
Pension Plan (other than an event as to which the PBGC has waived under subsection .22, .23, .25, .27 or .28 of PBGC Regulation
Section 4043 the requirement of Section 4043(a) of ERISA that it be notified of such event); (b) the failure by
Holdings, any of its Subsidiaries or any ERISA Affiliate to meet all applicable requirements under the Pension Funding Rules or
the filing of an application for the waiver of the minimum funding standards under the Pension Funding Rules; (c) any
determination that any Pension Plan is, or is expected to be, in at-risk status under Title IV of ERISA; (d) any incurrence by
Holdings, any of its Subsidiaries or any of their respective ERISA Affiliates of any liability under Title IV of ERISA with respect
to any Pension Plan or Multiemployer Plan (other than for premiums due and not delinquent under Section 4007 of ERISA);
(e) any institution of proceedings, or the occurrence of an event or condition which would reasonably be expected to constitute
grounds for the institution of proceedings by the PBGC, under Section 4042 of ERISA for the termination of, or the appointment
of a trustee to administer, any Pension Plan; (f) any incurrence by Holdings, any of its Subsidiaries or any of their
respective ERISA Affiliates of any liability with respect to the withdrawal or partial withdrawal from any Pension Plan or
Multiemployer Plan, or the receipt by Holdings, any of its Subsidiaries or any of their respective ERISA Affiliates of any notice
that a Multiemployer Plan is in endangered or critical status under Section 305 of ERISA; (g) any receipt by Holdings, any
of its Subsidiaries or any of their respective ERISA Affiliates of any notice, or any receipt by any Multiemployer Plan from
Holdings, any of its Subsidiaries or any of their respective 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 Title IV of ERISA;
(h) engaging in a non-exempt prohibited transaction within the meaning of Section 4975 of the Internal Revenue Code or
Section 406 of ERISA; or (i) any filing of a notice of intent to terminate any Pension Plan if such termination would
require material additional contributions in order to be considered a standard termination within the meaning of
Section 4041(b) of ERISA, any filing under Section 4041(c) of ERISA of a notice of intent to terminate any
Pension Plan, or the termination of any Pension Plan under Section 4041(c) of ERISA.

 

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“Erroneous Payment” as defined in Section 9.11(a).

 

“Erroneous Payment Deficiency Assignment”
as defined in Section 9.11(d).

 

“Erroneous Payment Impacted Class” as defined in Section 9.11(d).

 

“Erroneous Payment Return Deficiency” as defined in Section 9.11(d).

 

“Erroneous Payment Subrogation
Rights” as defined in Section 9.11(d).

 

“Escrow Agreement” as defined in the Closing Date Acquisition
Agreement.

 

“Escrow Amount” as defined in the Closing
Date Acquisition Agreement.

 

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

 

“Event of Default” as defined in Section 8.1.

 

“Exchange Act”
means the Securities Exchange Act of 1934, as amended from time to time, and any successor statute.

 

“Excluded Account”
means any Deposit Account (i) used exclusively for payroll, payroll taxes, other employee wage and benefit payments, and disbursements
(ii) the funds in which are in trust for any third parties or any other trust accounts, escrow accounts and other fiduciary accounts,
(iii) that is a zero-balance disbursement account and (iv) other deposit accounts the aggregate daily balance in which for the
trailing 30-day period does not at any time exceed $250,000.

 

“Excluded Assets” as defined in the Pledge
and Security Agreement.

 

“Excluded Swap Obligation”
means, 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) 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 related 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.

 

    19

     

    

 

“Excluded
Taxes” means any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or deducted
from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and
branch profits Taxes, in each case, (i)   imposed
as a result of such Recipient being organized under the laws of, or having its principal office or, in the case of any Lender, its
applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that
are Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or for
the account of such Lender with respect to an applicable interest in a Loan 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
Borrower under Section 2.23(b)) or (ii) such Lender changes its lending office, except in each case to the extent
that, pursuant to Section 2.20(b), 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 2.20(g) and (d) any
withholding Taxes imposed under FATCA.

 

“Existing Indebtedness”
means Indebtedness pursuant to (i) that certain Credit Agreement (as amended, restated, supplemented, or otherwise modified prior
to the date hereof), dated as of July 14, 2017 by and among AdvantEdge Healthcare Holdings, Inc., AdvantEdge Healthcare Solutions, Inc.,
and each of the other Persons identified on the signature pages thereto as a borrower, the certain financial institutions party thereto
as lenders and Elm Park Capital Management, LLC, a Delaware limited liability company, as the administrative agent, (ii) that certain
subordinated promissory note (as amended, restated, supplemented, or otherwise modified prior to the date hereof), dated as of July 3,
2018 by and between AdvantEdge Healthcare Holdings, Inc. and Founders HW, LLC, (iii) that certain subordinated promissory note
(as amended, restated, supplemented, or otherwise modified prior to the date hereof), dated as of March 6, 2015 by and between AdvantEdge
Healthcare Holdings, Inc. and Founders Equity I, L.P. (formerly known as Founders Equity SBIC I, L.P.), (iv) that certain subordinated
promissory note (as amended, restated, supplemented, or otherwise modified prior to the date hereof), dated as of July 14, 2017 by
and between AdvantEdge Healthcare Holdings, Inc. and Founders Equity I, L.P. (formerly known as Founders Equity SBIC I, L.P.) and
(v) that certain subordinated promissory note (as amended, restated, supplemented, or otherwise modified prior to the date hereof),
dated as of July 3, 2018 by and between AdvantEdge Healthcare Holdings, Inc. and Founders Equity I, L.P. (formerly known as
Founders Equity SBIC I, L.P.).

 

“Exit Payment” as defined in the Fee Letter.

 

“Extraordinary Receipt”
means any cash received by or paid to or for the account of any Person not in the ordinary course of business, including tax refunds,
pension plan reversions, proceeds of insurance, indemnity payments and any purchase price adjustments, but excluding Net Escrow and Indemnity
Proceeds, tax refunds, Net Insurance/Condemnation Proceeds and Net Asset Sale Proceeds; provided, however, that, an Extraordinary
Receipt shall not include cash receipts from proceeds of insurance or indemnity payments to the extent that such proceeds, awards or payments
are received by any Person in respect of any third party claim against such Person and applied to pay (or to reimburse such Person for
its prior payment of) such claim and the costs and expenses of such Person with respect thereto.

 

“Facility”
means any real property (including all buildings, fixtures or other improvements located thereon) now, hereafter or heretofore owned,
leased, operated or used by Holdings or any of its Subsidiaries or any of their respective predecessors or Affiliates.

 

“FCA” as defined in Section 1.4(a).

 

“Fair Share” as defined in Section 7.2.

 

    20

     

    

 

“Fair Share Contribution Amount” as defined
in Section 7.2.

 

“FATCA” means
Sections 1471 through 1474 of the Internal Revenue Code, as of the date of this Agreement (or any amended or successor version that is
substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations
thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Internal Revenue Code and any fiscal or regulatory
legislation, rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention among Governmental Authorities
and implementing such Sections of the Internal Revenue Code.

 

“Federal Funds Effective
Rate” means for any day, the rate per annum (expressed, as a decimal, rounded upwards, if necessary, to the next higher 1/100
of 1%) equal to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System as
published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided, (i) if such day
is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day
as so published on the next succeeding Business Day, and (ii) if no such rate is so published on such next succeeding Business Day,
the Federal Funds Rate for such day shall be the average rate quoted to Administrative Agent by three federal funds brokers on such day
on such transactions as determined by Administrative Agent.

 

“Fee Letter”
means the fee letter agreement, dated September 30, 2021, among Holdings, Borrower and Administrative Agent.

 

“Financial Officer
Certification” means, with respect to the financial statements for which such certification is required, the certification of
the chief financial officer of Holdings that such financial statements fairly present, in all material respects, the financial condition
of Holdings and its Subsidiaries as at the dates indicated and the results of their operations and their cash flows for the periods indicated,
subject to changes resulting from audit and normal year-end adjustments.

 

“Financial Plan” as defined in Section 5.1(i).

 

“First Priority”
means, with respect to any Lien purported to be created in any Collateral pursuant to any Collateral Document, such Lien is prior to all
other Liens on such Collateral, subject to any Permitted Lien, which is prior as a matter of law.

 

“Financial Statement Delivery Date” as defined
in Section 6.8(d).

 

“Fiscal Quarter” means a fiscal quarter of any Fiscal Year.

 

“Fiscal Year”
means the fiscal year of Holdings and its Subsidiaries ending on December 31 of each calendar year.

 

“Fixed Charge Coverage
Ratio” means, as of any date of determination, the ratio of (i) Consolidated Adjusted EBITDA for the four consecutive Fiscal
Quarters ending on (or, if such determination is not made as of the last day of a Fiscal Quarter, immediately prior to) such date of determination,
to (ii) Consolidated Fixed Charges for the four consecutive Fiscal Quarters ending on (or, if such determination is not made as of
the last day of a Fiscal Quarter, immediately prior to) such date of determination.

 

“Flood Hazard Property”
means any Real Estate Asset subject to a Mortgage in favor of Collateral Agent, for the benefit of the Secured Parties, and located in
an area designated by the Federal Emergency Management Agency as having special flood or mud slide hazards.

 

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“Floor” means
the benchmark rate floor, if any, provided in this Agreement initially (as of the execution and delivery of this Agreement, the modification,
amendment or renewal of this Agreement or otherwise) with respect to Adjusted LIBOR Rate.

 

“Foreign Benefit Event”
means with respect to any Foreign Plan, (a) the existence of unfunded liabilities in excess of the amount permitted under applicable
law, (b) the failure to make the required contributions or payments required 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 its intention to terminate any
such Foreign Plan or to appoint a trustee or similar official to administer any such Foreign Plan, or alleging the insolvency of any such
Foreign Plan, or (d) the incurrence of any liability on account of the complete or partial termination of such Foreign Plan or the
complete or partial withdrawal of any participating employer therein.

 

“Foreign Collateral
Documents” means any pledge, security or other collateral agreement pursuant to which the Capital Stock issued by or the assets
owned by a Foreign Subsidiary are made subject to a Lien in favor of the Collateral Agent for the benefit of the Secured Parties and is
governed by the laws of the jurisdiction in which such Foreign Subsidiary is formed or where their assets are located, all of which shall
be in form and substance satisfactory to Administrative Agent.

 

“Foreign Credit Party” means any Foreign
Subsidiary that is a Guarantor.

 

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

 

“Foreign Pension Plan” means a
registered pension plan which is subject to applicable pension legislation other than ERISA or the Internal Revenue Code, and which Holdings
or any Subsidiary sponsors or maintains, or to which it makes or is obligated to make contributions.

 

“Foreign Plan”
means each Foreign Pension Plan, deferred compensation or other retirement or superannuation plan, fund, program, agreement, commitment
or arrangement whether oral or written, funded or unfunded, sponsored, established, maintained or contributed to, or required to be contributed
to, or with respect to which any liability is borne, outside the United States of America, by Holdings or any of its Subsidiaries, other
than any such plan, fund, program, agreement or arrangement mandated by a Governmental Authority.

 

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

 

“Fund” means
any Person (other than a natural Person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial
loans, bonds and similar extensions of credit in the ordinary course of its activities.

 

“Funding Guarantor” as defined in Section 7.2.

 

“Funding Notice” means a written
notice substantially in the form of Exhibit A-1.

 

“GAAP” means, subject to the limitations on the
application thereof set forth in Section 1.2, United States generally accepted
accounting principles in effect as of the date of determination thereof.

 

“Governmental
Authority” means the government of the United States of America or any other nation, or of any political subdivision
thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity
exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government
(including any supra-national bodies such as the European Union or the European Central Bank).

 

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“Governmental Authorization”
means any permit, license, authorization, plan, directive, consent order or consent decree of or from any Governmental Authority.

 

“Governmental Payor”
means Medicare, Medicaid, TRICARE, CHAMPVA, any state health plan adopted pursuant to Title XIX of the Social Security Act, any other
state or federal health care program and any other Governmental Authority which presently or in the future maintains a Third Party Payor
Program.

 

“Grantor” as defined in the Pledge and Security
Agreement.

 

“Guarantee”
of or by any Person (the “guarantor”) means any obligation, contingent or otherwise, of the guarantor guaranteeing
or having the economic effect of guaranteeing any Indebtedness or other obligation of any other Person (the “primary obligor”)
in any manner, whether directly or indirectly and including any obligation, direct or indirect, of the guarantor (a) to purchase
or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation or to purchase (or to advance
or supply funds for the purchase of) any security for the payment thereof, (b) to purchase or lease property, securities or services
for the purpose of assuring the owner of such Indebtedness or other obligation of the payment thereof, (c) to maintain working capital,
equity capital or any other financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay
such Indebtedness or other obligation or (d) as an account party in respect of any letter of credit or letter of guaranty issued
in support of such Indebtedness or obligation; provided that the term “Guarantee” shall not include endorsements for
collection or deposit in the ordinary course of business. The amount of any Guarantee shall be deemed to be an amount equal to the stated
or determinable amount of the primary obligation in respect of which such Guarantee is made or, if not so stated or determinable, the
maximum reasonably anticipated liability in respect thereof (assuming such Person is required to perform thereunder) as determined by
such Person in good faith. The term “Guarantee” used as a verb has a corresponding meaning.

 

“Guaranteed Obligations” as defined in Section 7.1.

 

“Guarantor”
means each of Holdings and each direct or indirect Subsidiary of Holdings (other than Borrower) that is a party to this Agreement (as
an original signatory or by execution and delivery of a Counterpart Agreement or any other joinder agreement in form and substance reasonably
satisfactory to Administrative Agent) or that otherwise executes and delivers a Guaranty, together with Borrower with respect to the Obligations
of any Guarantor Subsidiary.

 

“Guarantor Assumption” as defined in Section 10.23.

 

“Guarantor Subsidiary” means each Subsidiary
of Holdings (other than Borrower) that is a Guarantor.

 

“Guaranty” means the guaranty of each
Guarantor set forth in Section 7 and any other guaranty agreement, in form and substance satisfactory to Administrative
Agent, pursuant to which a Subsidiary or any other Person guarantees payment and performance of all Obligations.

 

“Hazardous Materials”
means any chemical, material or substance, exposure to which is prohibited, limited or regulated by any Governmental Authority on account
of its deleterious impacts on the environment or human health.

 

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“Hazardous Materials
Activity” means the use, manufacture, storage, holding, presence, Release, threatened Release, discharge, placement, generation,
transportation, processing, treatment, abatement, removal, remediation, disposal or handling of any Hazardous Materials, and any corrective
action or response action with respect to any of the foregoing.

 

“Health Care
Laws” means all Requirements of Law applicable to the business of Holdings or any of its Subsidiaries relating to
(a) fraud and abuse (including the following statutes, as amended, modified or supplemented from time to time and any successor
statutes thereto and regulations promulgated from time to time thereunder: the federal Anti-Kickback Statute (42 U.S.C. §
1320a-7b(b)); the Stark Law (42 U.S.C. § 1395nn); the False Claims Act (31 U.S.C. § 3729 et seq.); and Sections 1320a-7
and 1320a- 7a and 1320a-7b of Title 42 of the United States Code; (b) the licensure or regulation of healthcare providers,
suppliers, professionals, facilities or payors; (c) patient health care; (d) quality, safety certification and
accreditation standards and requirements; (e) HIPAA; (f) certificates of operations and authority; (g) laws
regulating the provision of free or discounted care or services; (h) Medicare, Medicaid, CHAMPVA, TRICARE or other Third Party
Payor Programs; (i) the offering, marketing or provision of, or payment for, health care services, items or supplies;
(j) the billing, coding or submission of claims or collection of accounts receivable or refund of overpayments;
(k) revenue cycle management and related functions and activities; (l) the practice of medicine or other health care
professions, the organization, ownership and governance of medical or other professional or health care service entities, or the
management or administration of medical or other professional or health care service entities or practices; (m) fee-splitting
prohibitions and prohibitions relating to the “corporate” practice of medicine or other professions; (n) health
planning or rate-setting laws, including laws regarding certificates of need and certificates of exemption; and (o) any and all
other applicable federal, state or local health care laws, rules, codes, statutes, regulations, manuals, orders, ordinances,
policies, professional or ethical rules, administrative guidance and requirements, as the same may be amended, modified or
supplemented from time to time, and any successor statute thereto.

 

“Healthcare Liabilities”
means all Liabilities imposed on or incurred by Holdings or any of its Subsidiaries as a result of, or related to, any claim, suit, action,
audit, investigation or proceeding by any Person, whether based in contract, tort, implied or express warranty, strict liability, criminal
or civil statute or common law or otherwise, directly arising under any Health Care Law.

 

“Hedging Obligations”
of any Person means any and all obligations of such Person, whether absolute or contingent and howsoever and whensoever created, arising,
evidenced or acquired under (a) any and all Hedging Transactions, (b) any and all cancellations, buy backs, reversals, terminations
or assignments of any Hedging Transactions and (c) any and all renewals, extensions and modifications of any Hedging Transactions
and any and all substitutions for any Hedging Transactions.

 

“Hedging
Transaction” of any Person means (a) any transaction (including an agreement with respect to any such transaction)
now existing or hereafter entered into by such Person that is a rate swap transaction, swap option, basis swap, forward rate
transaction, commodity swap, commodity option, equity or equity index swap or option, bond option, interest rate option, foreign
exchange transaction, cap transaction, floor transaction, collar transaction, currency swap transaction, cross-currency rate swap
transaction, currency option, spot transaction, credit protection transaction, credit swap, credit default swap, credit default
option, total return swap, credit spread transaction, repurchase transaction, reverse repurchase transaction, buy/sell-back
transaction, securities lending transaction, or any other similar transaction (including any option with respect to any of these
transactions) or any combination thereof, whether or not any such transaction is governed by or subject to any master agreement and
(b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or
governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any
International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related
schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement, and
without duplication, any Interest Rate Agreement or Currency Agreement.

 

    24

     

    

 

“Highest Lawful Rate”
means the maximum lawful interest rate, if any, that at any time or from time to time may be contracted for, charged, or received under
the laws applicable to any Lender which are presently in effect or, to the extent allowed by law, under such applicable laws which may
hereafter be in effect and which allow a higher maximum non-usurious interest rate than applicable laws now allow.

 

“Historical Financial
Statements” means (a) the audited financial statements of Holdings and its Subsidiaries, for the Fiscal Years ended 2020
and 2019, consisting of balance sheets and the related consolidated statements of income, stockholders' equity and cash flows for such
Fiscal Year, and (b) for the interim period from January 1, 2021 to the Closing Date, internally prepared, unaudited financial
statements of Holdings and its Subsidiaries, consisting of a balance sheet and the related consolidated statements of income, stockholders'
equity and cash flows for each quarterly period completed prior to 46 days before the Closing Date and for each monthly period completed
prior to 31 days prior to the Closing Date, in the case of clauses (a) and (b), certified by the chief financial officer
of Holdings that they fairly present, in all material respects, the financial condition of Holdings and its Subsidiaries as at the dates
indicated and the results of their operations and their cash flows for the periods indicated, subject, if applicable, to changes resulting
from audit and normal year-end adjustments.

 

“Holdings” as defined in the preamble hereto.

 

“IBA” as defined in Section 1.4(a).

 

“Increased-Cost Lender” as defined in Section 2.23(b).

 

“Indebtedness”
means, as applied to any Person, without duplication, (a) all obligations of such Person for borrowed money, (b) all
obligations of such Person evidenced by bonds, debentures, notes or other similar instruments, (c) all obligations of such
Person in respect of the deferred purchase price of property or services (other than trade accounts payable which are not overdue by
more than ninety (90) days), (d) all obligations of such Person under any conditional sale or other title retention
agreement(s) relating to property acquired by such Person, (e) all obligations in respect of Capital Leases of such
Person, (f) all obligations, contingent or otherwise, of such Person in respect of letters of credit, banker’s
acceptances or similar extensions of credit, (g) all Guarantees of such Person of the type of Indebtedness described in clauses
(a) through (f) above, (h) all Indebtedness of a third party secured by any Lien on any property or asset
owned or held by such Person, whether or not such Indebtedness has been assumed by such Person, (i) all obligations of such
Person, contingent or otherwise, to purchase, redeem, retire or otherwise acquire for value any Disqualified Capital Stock of such
Person, (j) all Off-Balance Sheet Liabilities and (k) all Hedging Obligations. The Indebtedness of any Person shall
include the Indebtedness of any partnership or joint venture in which such Person is a general partner or a joint venturer, except
to the extent that the terms of such Indebtedness provide that such Person is not liable therefor. For purposes of determining the
amount of attributed Indebtedness from Hedging Obligations, the “principal amount” of any Hedging Obligations at any
time shall be the Net Mark-to-Market Exposure of such Hedging Obligations. Notwithstanding anything to the contrary in this
definition, with respect to the obligation to pay the Earnout Payment to the Company Stockholders, only the amount of the Earnout
Payment that is in excess of the amount on deposit in the Earnout Escrow Account, has become due and payable pursuant to the Closing
Date Acquisition Agreement and has been outstanding for a period of greater than 30 days since becoming due and payable shall
constitute Indebtedness for purposes of calculating the Total Leverage Ratio or the Fixed Charge Coverage Ratio or for purposes of Section 6.20.

 

    25

     

    

 

“Indemnified Liabilities”
means, collectively, any and all liabilities, obligations, losses, damages (including natural resource damages), penalties, claims (including
Environmental Claims), costs (including the costs of any investigation, study, sampling, testing, abatement, cleanup, removal, remediation
or other response action necessary to remove, remediate, clean up or abate any Release of Hazardous Materials pursuant to Environmental
Law), expenses and disbursements of any kind or nature whatsoever (including the reasonable and documented out-of-pocket fees and disbursements
of counsel for Indemnitees in connection with any investigative, administrative or judicial proceeding commenced or threatened by any
Person, whether or not any such Indemnitee shall be designated as a party or a potential party thereto, and any reasonable and documented
out-of-pocket fees or expenses incurred by Indemnitees in enforcing this indemnity), whether direct, indirect or consequential and whether
based on any federal, state or foreign laws, statutes, rules or regulations (including securities and commercial laws, statutes,
rules or regulations and Environmental Laws), on common law or equitable cause or on contract or otherwise, that may be imposed on,
incurred by, or asserted against any such Indemnitee, in any manner relating to or arising out of (a) this Agreement or the other
Credit Documents or the transactions contemplated hereby or thereby (including the Lenders’ agreement to make Credit Extensions
or the use or intended use of the proceeds thereof, or any enforcement of any of the Credit Documents (including any sale of, collection
from, or other realization upon any of the Collateral or the enforcement of the Guaranty)); (b) the statements contained in the commitment
letter delivered by any Lender to Borrower with respect to the transactions contemplated by this Agreement; (c) any Environmental
Claim or any Hazardous Materials Activity relating to or arising from, directly or indirectly, any past or present activity, operation,
land ownership, or practice of Holdings or any of its Subsidiaries; or (d) any actual or prospective claim, litigation, investigation
or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party
or by Borrower or any other Credit Party, and regardless of whether any Indemnitee is a party thereto.

 

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

 

“Indemnitee” as defined in Section 10.3.

 

“Indemnitee Related Party” as defined in Section 9.7.

 

“Independent Director”
means, with respect to any Person, a member of the board of directors (or similar governing body) of such Person who (a) does not
have any material direct or indirect financial or other personal interest in or with respect to such Person or any of its Subsidiaries
or Affiliates or any transaction engaged in by such Person or such Person’s Subsidiaries or Affiliates, (b) is not an officer
or employee of such Person or any of its Subsidiaries or Affiliates, and (c) is otherwise an Independent Director, as defined in
Nasdaq Rule 5605(a)(2) (except that any reference therein to the “Company” shall instead be interpreted to mean
Holdings).

 

“Indian Subsidiaries”
means Health Prime Services Pvt. Ltd., a private limited company formed under the laws of India, and AdvantEdge Healthcare Solutions Private
Limited, a private limited company formed under the laws of India.

 

“Installment” as defined in Section 2.12.

 

“Installment Date” as defined in Section 2.12.

 

    26

     

    

 

“Intellectual
Property” means (a) all patents, patent applications and patent disclosures, together with all reissuances,
continuations, continuations-in-part, revisions, extensions and reexaminations thereof, (b) all trademarks, service marks,
trade dress, and, to the extent protected by applicable trademark law, logos, trade names and corporate names, together with all
translations, adaptations, derivations and combinations thereof and including all goodwill associated therewith, (c) all
copyrights and all applications, registrations and renewals in connection therewith, (d) all mask works and design rights and
all applications, registrations and renewals in connection therewith, and (e) all trade secrets and rights in the following:
know-how and confidential business information, whether patentable or unpatentable and whether or not reduced to practice (including
rights in the following: ideas, research and development, formulas, compositions and manufacturing and production process and
techniques, technical data, designs, drawings, specifications, customer and supplier lists, pricing and cost information and
business and marketing plans and proposals) and (f) all intellectual property covering computer software (including rights in
data and related documentation).

 

“Intellectual Property
Security Agreement” has the meaning ascribed thereto in the Pledge and Security Agreement.

 

“Interest Payment Date”
means, with respect to (a) any Base Rate Loan, (i) the last Business Day of each month, commencing on the first such date to
occur after the Closing Date, and (ii) the Maturity Date of such Loan; and (b) any LIBOR Rate Loan, (i) the last day of
each Interest Period applicable to such Loan and (ii) the Maturity Date of such Loan.

 

“Interest
Period” means, in connection with a LIBOR Rate Loan, an interest period of one- or three-months, as selected by Borrower
in the applicable Funding Notice or Conversion/Continuation Notice, (a) initially, commencing on the Credit Date or
Conversion/Continuation Date thereof, as the case may be; and (b) thereafter, commencing on the day on which the immediately
preceding Interest Period expires; provided, (i) if an Interest Period would otherwise expire on a day that is not a
Business Day, such Interest Period shall expire on the next succeeding Business Day unless no further Business Day occurs in such
month, in which case such Interest Period shall expire on the immediately preceding Business Day; (ii)   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 clauses (iii) and (iv), of this
definition, end on the last Business Day of a calendar month; (iii) no Interest Period with respect to any portion of any
Class of Term Loans shall extend beyond such Class’s Maturity Date; and (iv) no Interest Period with respect to any
portion of the Revolving Loans shall extend beyond the Revolving Commitment Termination Date.

 

“Interest Rate Agreement”
means any interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate hedging agreement or
other similar agreement or arrangement, each of which is (i) for the purpose of hedging the interest rate exposure associated with
Holdings’ and its Subsidiaries’ operations, (ii) approved by Administrative Agent, and (iii) not for speculative
purposes.

 

“Interest Rate Determination
Date” means, with respect to any Interest Period, the date that is two Business Days prior to the first day of such Interest
Period.

 

“Internal Revenue Code” means the Internal
Revenue Code of 1986.

 

“Investment”
means (a) any direct or indirect purchase or other acquisition by Holdings or any of its Subsidiaries of, or of a beneficial
interest in, any of the Capital Stock, Securities or evidence of Indebtedness of any other Person; (b) any direct or indirect
loan, advance (other than advances to employees for moving, entertainment and travel expenses, drawing accounts and similar
expenditures in the ordinary course of business), investment or capital contributions by Holdings or any of its Subsidiaries to any
other Person, including all indebtedness and accounts receivable from that other Person that are not current assets or did not arise
from sales to that other Person in the ordinary course of business, (c) any Guarantee by Holdings or any of its Subsidiaries of
any obligations of another Person and (d) any direct or indirect acquisition by Holdings or any of its Subsidiaries. The amount
of any Investment shall be the original cost of such Investment plus the cost of all additions thereto, without any adjustments for
increases or decreases in value, or write-ups, write-downs or write-offs with respect to such Investment.

 

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“IRS” means the United States Internal Revenue
Service.

 

“Joint Venture”
means a joint venture, partnership or other similar arrangement, whether in corporate, partnership or other legal form; provided,
in no event shall any corporate Subsidiary of any Person be considered to be a Joint Venture to which such Person is a party.

 

“Landlord Collateral
Access Agreement” means any agreement in favor of Collateral Agent, for the benefit of the Secured Parties, of any lessor, warehouseman,
processor, consignee or other Person in possession of, having a Lien upon or having rights or interests in, any of the Collateral in form
and substance satisfactory to Collateral Agent, waiving or subordinating Liens or certain other rights or interests such Person may hold
in regard to the Collateral and providing Collateral Agent access to its Collateral.

 

“Landlord Consent and
Estoppel” means, with respect to any Leasehold Property, a letter, certificate or other instrument in writing from the lessor
under the related lease, pursuant to which, among other things, the landlord consents to the granting of a Mortgage on such Leasehold
Property by the Credit Party tenant, such Landlord Consent and Estoppel to be in form and substance acceptable to Collateral Agent in
its reasonable discretion, but in any event sufficient for Collateral Agent to obtain a Title Policy with respect to such Mortgage.

 

“Leasehold Property”
means any leasehold interest of any Credit Party as lessee under any lease of real property, other than any such leasehold interest designated
from time to time by Collateral Agent in its sole discretion as not being required to be included in the Collateral.

 

“Lender”
means each Person listed on the signature pages hereto as a Lender, and any other Person that becomes a party hereto pursuant to
an Assignment Agreement.

 

“Lender Counterparty”
means each Lender or any Affiliate of a Lender counterparty to an Interest Rate Agreement or Currency Agreement (including any Person
who is a Lender (and any Affiliate thereof) as of the Closing Date but subsequently, whether before or after entering into an Interest
Rate Agreement or Currency Agreement, ceases to be a Lender).

 

“Liabilities”
means all claims, actions, suits, judgments, damages, losses, liability, obligations, responsibilities, fines, penalties, sanctions, costs,
fees, Taxes, commissions, charges, disbursements and expenses (including those incurred upon any appeal or in connection with the preparation
for and/or response to any subpoena or request for document production relating thereto), in each case of any kind or nature (including
interest accrued thereon or as a result thereto and fees, charges and disbursements of financial, legal and other advisors and consultants),
whether joint or several, whether or not indirect, contingent, consequential, actual, punitive, treble or otherwise.

 

“LIBOR Rate Loan”
means a Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate.

 

“LIBOR Screen Rate” as defined in the “Adjusted
LIBOR Rate” definition.

 

“Lien”
means (a) any lien, mortgage, pledge, hypothecation, assignment, deposit arrangement, security interest, charge or encumbrance
of any kind (including any agreement to give any of the foregoing, any conditional sale or other title retention agreement, and any
lease in the nature thereof) and any option, trust or other preferential arrangement having the practical effect of any of the
foregoing, and (b) in the case of Securities, any purchase option, call or similar right of a third party with respect to such
Securities.

 

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“Loan” means a Term Loan or a Revolving
Loan, as the context may require.

 

“Manager” means
Highline Management Inc., a Delaware corporation (or such other Person reasonably acceptable to Administrative Agent and approved in writing
by Administrative Agent).

 

“Management Agreement”
means (i) with respect to Holdings, the Second Amended and Restated Limited Liability Company Agreement of GPB HPI Holding LLC, dated
as of November 20, 2019, (ii) with respect to the Sponsor GP, the Amended and Restated Management Services Agreement, dated
as of May 15, 2020, by and between the Manager and the Sponsor GP.

 

“Margin Stock”
as defined in Regulation U of the Board of Governors of the Federal Reserve System as in effect from time to time.

 

“Master Agreement” as defined in the “Hedging
Transaction” definition.

 

“Master Intercompany
Note” means that certain Master Intercompany Note, dated as of the date hereof, between Holdings and its Subsidiaries.

 

“Material Adverse Effect”
means a material adverse effect on and/or material adverse developments with respect to (a) the business, condition (financial or
otherwise), assets, liabilities (actual or contingent), operations, management, performance or properties of Holdings and its Subsidiaries,
taken as a whole; (b) the ability of any Credit Party to fully and timely perform its Obligations; (c) the legality, validity,
binding effect, or enforceability against a Credit Party of a Credit Document to which it is a party; or (d) the rights, remedies
and benefits available to, or conferred upon, any Agent and any Lender or any Secured Party under any Credit Document.

 

“Material Contract”
means (a) the contracts listed on Schedule 4.15; (b) each other contract or agreement, or series of contracts or agreements
(irrespective of whether related to the same subject matter), to which Holdings or any of its Subsidiaries is a party involving aggregate
consideration under all such contract(s) and agreement(s) payable by (or to) Holdings or any of its Subsidiaries to (or from)
a specific Person or such Person’s Affiliates, of $1,000,000 or more in any calendar year; and (c) any other contract or other
arrangement to which Holdings or any of its Subsidiaries is a party (other than the Credit Documents) for which breach, nonperformance,
cancellation or failure to renew could reasonably be expected to have a Material Adverse Effect.

 

“Material Healthcare
Liabilities” means Healthcare Liabilities in an amount or with a value exceeding $500,000 (but to the extent applicable, excluding
amounts covered by insurance to the extent the relevant independent third-party insurer has not denied coverage therefor) in the aggregate.
Notwithstanding the foregoing, any criminal Healthcare Liability shall be a Material Healthcare Liability regardless of amount, value
or economic impact.

 

“Material Intellectual
Property” means and includes all Intellectual Property that is material to the business of Holdings or any of its Subsidiaries.

 

“Material Real Estate
Asset” means any fee-owned Real Estate Asset having a fair market value in excess of $500,000 as of the date of the acquisition
thereof.

 

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“Maturity Date”
means the Term Loan Maturity Date and/or the Revolving Commitment Termination Date, as the context may require.

 

“Monitor”
means the independent monitor appointed by the United States District Court of Eastern District of New York (“EDNY Court”)
in the SEC Proceeding, which as of the Closing Date is Joseph T. Gardemal III, pursuant to the Monitor Order.

 

“Monitor Order”
means the Amended Order Appointing Monitor entered by the EDNY Court on April 14, 2021, in the SEC Proceeding.

 

“Moody’s” means Moody’s Investor
Services, Inc.

 

“Mortgage”
means a mortgage, deed of trust, deed to secure debt or similar security instrument made or to be made by a Person owning an interest
in real property granting a Lien on such interest in real estate as security for the payment of Obligations which shall be in a form and
substance reasonably acceptable to Collateral Agent.

 

“Mortgaged Property” as defined in clause
(a)  of the definition of “Real Estate Deliverables”.

 

“Multiemployer Plan” means any
 “multiemployer plan” as defined in Section 4001(a)(3) of ERISA, which is contributed to by (or to which there is or
may be an obligation to contribute of) Holdings, any of its Subsidiaries or an ERISA Affiliate, and each such plan for the five-year
period immediately following the latest date on which Holdings, any of its Subsidiaries or an ERISA Affiliate contributed to, had an
obligation to contribute to such plan or had any liability to.

 

“NAIC” means
The National Association of Insurance Commissioners, and any successor thereto.

 

“Narrative Report” means, with respect
to the financial statements for which such narrative report is required, a narrative report describing the operations of Holdings
and its Subsidiaries in the form prepared for presentation to senior management thereof for the applicable month, Fiscal Quarter or
Fiscal Year and for the period from the beginning of the then current Fiscal Year to the end of such period to which such financial
statements relate with comparison to and variances from the immediately preceding period and budget.

 

“Net Asset Sale Proceeds”
means, with respect to any Asset Sale, an amount equal to: (a) Cash payments actually received by Holdings or any of its Subsidiaries
from such Asset Sale, minus (b) any bona fide direct costs incurred in connection with such Asset Sale to the extent paid
or payable to non- Affiliates, including (i) income, franchise or gains taxes payable by the seller as a result of any income or
gain recognized in connection with such Asset Sale during the tax period the sale occurs and, without duplication, the portion of any
Permitted Tax Distribution to the extent attributable to the income or gain recognized in connection with such Asset Sale, (ii) payment
of the outstanding principal amount of, premium or penalty, if any, and interest on any Indebtedness (other than the Loans) that is secured
by a Lien on the stock or assets in question and that is required to be repaid under the terms thereof as a result of such Asset Sale
and (iii) a reasonable reserve for any indemnification payments (fixed or contingent) attributable to seller’s indemnities
and representations and warranties to purchaser in respect of such Asset Sale undertaken by Holdings or any of its Subsidiaries in connection
with such Asset Sale; provided that upon release of any such reserve, the amount released shall be considered Net Asset Sale Proceeds.

 

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“Net Escrow and
Indemnity Proceeds” means an amount equal to: (a) any Cash payments or proceeds actually received by Holdings or any
of its Subsidiaries in connection with any escrow arrangement or indemnification provision in respect of any acquisition or
Investment (including the Closing Date Acquisition), including the proceeds of any representation and warranty insurance in respect
of any acquisition or Investment permitted hereunder (including the Closing Date Acquisition), in each case, in respect of any
covered loss thereunder minus (b) any actual and reasonable costs incurred by Holdings or any of its Subsidiaries in
connection with the adjustment or settlement of any claims of Holdings or such Subsidiary in respect thereof.

 

“Net Extraordinary
Receipt Proceeds” means an amount equal to: (a) any Cash payments or proceeds actually received by Holdings or any of its
Subsidiaries constituting an Extraordinary Receipt, minus (b) (i) any actual and reasonable costs incurred by Holdings
or any of its Subsidiaries in connection therewith, and (ii) (A) any income, franchise or gains taxes payable by Holdings or
any of its Subsidiaries as a result of any income or gain recognized in connection therewith and, without duplication, (B) the portion
of any Permitted Tax Distribution to the extent attributable to any income or gain recognized in connection with the transaction giving
rise to the Extraordinary Receipt.

 

“Net Insurance/Condemnation
Proceeds” means an amount equal to: (a) any Cash payments or proceeds actually received by Holdings or any of its Subsidiaries
(i) under any casualty, business interruption or “key man” insurance policies in respect of any covered loss thereunder,
or (ii) as a result of the taking of any assets of Holdings or any of its Subsidiaries by any Person pursuant to the power of eminent
domain, condemnation or otherwise, or pursuant to a sale of any such assets to a purchaser with such power under threat of such a taking,
minus (b) (i) any actual and reasonable costs (including tax costs) incurred by Holdings or any of its Subsidiaries in
connection with the adjustment or settlement of any claims of Holdings or such Subsidiary in respect thereof, (ii) any bona fide
direct costs incurred in connection with any sale of such assets as referred to in clause (a)(ii) of this definition to the
extent paid or payable to non-Affiliates, including (A) income, franchise or gain taxes payable as a result of any income or gain
recognized in connection therewith and, without duplication, (B) the portion of a Permitted Tax Distribution to the extent attributable
to any income or gain recognized as a result of the sale of such assets and (iii) payment of the outstanding principal amount of,
premium or penalty, if any, and interest on any Indebtedness (other than the Loans) that is secured by a Lien on the assets in question
and that is required to be repaid under the terms thereof as a result of such casualty or taking.

 

“Net Mark-to-Market
Exposure” of any Person means, as of any date of determination with respect to any Hedging Obligation, the excess (if any) of
all unrealized losses over all unrealized profits of such Person arising from such Hedging Obligation; provided that, for purposes
of this definition, “unrealized losses” means the fair market value of the cost to such Person of replacing the Hedging Transaction
giving rise to such Hedging Obligation as of the date of determination (assuming the Hedging Transaction were to be terminated as of that
date), and “unrealized profits” means the fair market value of the gain to such Person of replacing such Hedging Transaction
as of the date of determination (assuming such Hedging Transaction were to be terminated as of that date).

 

“Non-Consenting Lender” as defined in Section 2.23(b). 

 

“Notes” means a Term Loan Note and/or a Revolving
Loan Note, as the context may require.

 

“Notice” means a Funding Notice or a Conversion/Continuation
Notice.

 

“Obligations”
means all obligations of every nature of each Credit Party from time to time owed to the Agents, the Lenders or any of them and
Lender Counterparties, under any Credit Document or Interest Rate Agreement and Currency Agreement (including, without limitation,
with respect to an Interest Rate Agreement or Currency Agreement, obligations owed thereunder to any person who was a Lender or an
Affiliate of a Lender at the time such Interest Rate Agreement or Currency Agreement was entered into), whether for principal,
interest (including interest which, but for the filing of a petition in bankruptcy with respect to such Credit Party, would have
accrued on any Obligation, whether or not a claim is allowed against such Credit Party for such interest in the related bankruptcy
proceeding), the Exit Payment, Yield Maintenance Premium, Prepayment Premium, payments for early termination of Interest Rate
Agreements or Currency Agreements, fees, expenses, indemnification or otherwise; provided that with respect to any Guarantor,
the Obligations shall not include any Excluded Swap Obligations.

 

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“Obligee Guarantor” as defined in Section 7.7.

 

“OFAC” means the Office of Foreign Assets
Control of the United States Department of the Treasury.

 

“Off-Balance Sheet Liabilities” of any
Person means (a) any repurchase obligation or liability of such Person with respect to accounts or notes receivable sold by
such Person, (b) any liability of such Person under any sale and leaseback transactions that do not create a liability on the
balance sheet of such Person, (c) any Synthetic Lease Obligations or (d) any obligation arising with respect to any other
transaction which is the functional equivalent of or takes the place of borrowing but which does not constitute a liability on the
balance sheet of such Person.

 

“Organizational Documents”
means (a) with respect to any corporation, its certificate or articles of incorporation or organization, as amended, and its by-laws,
as amended, (b) with respect to any limited partnership, its certificate of limited partnership, as amended, and its partnership
agreement, as amended, (c) with respect to any general partnership, its partnership agreement, as amended, and (d) with respect
to any limited liability company, its articles of organization or certificate of formation, as amended, and its operating agreement, as
amended, in each case, or the equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction; provided
that in the event any term or condition of this Agreement or any other Credit Document requires any Organizational Document to be certified
by a secretary of state or similar governmental official, the reference to any such “Organizational Document” shall only be
to a document of a type customarily certified by such governmental official.

 

“Original Currency” as defined in Section 10.25.

 

“Other Connection Taxes”
means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient and the jurisdiction
imposing such 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, engaged in any other transaction pursuant to or enforced
any Credit Document, or sold or assigned an interest in any Loan or Credit Document).

 

“Other Taxes”
means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment made
under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest
under, or otherwise with respect to, any Credit Document, except any such Taxes that are Other Connection Taxes imposed with respect to
an assignment (other than an assignment made pursuant to Section 2.23(b)).

 

“Participant” as defined in in Section 10.6(d).

 

“Participant Register” as defined in Section 10.6(d).

 

“Payment Recipient” as defined
in Section 9.11(a).

 

“PBGC” means the Pension Benefit Guaranty
Corporation or any successor thereto.

 

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“Pension Funding Rules”
means the rules of the Internal Revenue Code and ERISA regarding minimum funding standards and minimum required contributions (including
any installment payment thereof) to Pension Plans and Multiemployer Plans and set forth in Sections 412, 430, 431, 432 and 436 of the
Internal Revenue Code and Sections 302, 303, 304 and 305 of ERISA.

 

“Pension Plan”
means any “employee benefit plan” as defined in Section 3 of ERISA that is subject to Title IV of ERISA (other than a
Multiemployer Plan) and that is maintained or contributed to by Holdings or any ERISA Affiliate or to which Holdings, or otherwise has
have liability with respect to such plan.

 

“Perfection Certificate”
means a certificate in form and detail satisfactory to the Administrative Agent that provides information with respect to the personal
or mixed property of each Credit Party.

 

“Permits”
means, with respect to any Person, any permit, approval, authorization, license, registration, certificate, concession, grant, franchise,
variance or permission from, and any other Contractual Obligations with, any Governmental Authority, in each case applicable to or binding
upon such Person or any of its property or to which such Person or any of its property is subject, including all Regulatory Permits.

 

“Permitted Acquisition” as defined in Section 6.9(s).

 

“Permitted Liens” as defined in Section 6.2.

 

“Permitted Tax Distributions”
means any distribution made by Holdings to its members in an amount which is sufficient to permit its direct or indirect members to pay
all federal, state and local income taxes (or franchise taxes imposed in lieu of income taxes) which arise solely and directly as a result
of their direct or indirect ownership interest in Holdings; provided that such distributions (i) shall be calculated using an assumed
rate equal to the highest federal, state and local income tax rate applicable to an individual resident of California or New York, New
York (whichever is higher), taking into account (A) the tax imposed under Section 1411 of the Internal Revenue Code and (B) the
character of the income in question, and (ii) shall not take into account any taxable income result from the cancellation or discharge
of Indebtedness.

 

“Person”
means and includes natural persons, corporations, limited partnerships, general partnerships, limited liability companies, limited liability
partnerships, joint stock companies, Joint Ventures, associations, companies, trusts, banks, trust companies, land trusts, business trusts
or other organizations, whether or not legal entities, and Governmental Authorities.

 

“Personal Information”
means (a) any of the following information regulated under Security and Data Privacy Laws or Contractual Obligations: natural person’s
name, address, telephone number, social security number, driver’s license number, state-issued identification card number, financial
account numbers, credit card numbers, debit card numbers, or any security code, access code, personal identification number or password,
health insurance policy number, subscriber identification number, any unique identifier used by a health insurer to identify the individual,
information regarding an individual’s medical history, mental or physical condition or medical treatment or diagnosis by a health
insurer to identify the individual, username or email address in combination with a password or security question, (b) any information
which is considered “personal data,” “personal information,” “personally identifiable information”
or “protected health information” under Security and Data Privacy Laws or (c) other regulated types of data under Security
and Data Privacy Laws.

 

    33

     

    

 

“Phase I Report”
means, with respect to any Facility, a report that (i) conforms to the ASTM Standard Practice for Environmental Site Assessments:
Phase I Environmental Site Assessment Process, E 1527, and (ii) was conducted no more than twelve months prior to the date such report
is required to be delivered hereunder, by one or more environmental consulting firms reasonably satisfactory to Administrative Agent.

 

“Pledge and Security
Agreement” means the Pledge and Security Agreement, dated as of the Closing Date, among Borrower, each Domestic Credit Party
and Collateral Agent, together with any joinders thereto.

 

“Prepayment Premium” as defined in the Fee
Letter.

 

“Prime Rate”
means the rate of interest quoted in The Wall Street Journal, Money Rates Section as the “Prime Rate” (currently
defined as the base rate on corporate loans posted by at least 70% of the nation’s 10 largest banks), as in effect from time to
time; provided that the Prime Rate is a reference rate and does not necessarily represent the lowest or best rate actually charged
to any customer; provided, further, that Agents or any other Lender may make commercial loans or other loans at rates of
interest at, above or below the Prime Rate.

 

“Principal Office”
means Administrative Agent’s “Principal Office” or account as set forth on Appendix B, or such other office or
account as Administrative Agent may from time to time designate in writing to Borrower and each Lender.

 

“Pro Rata Share”
means (a) with respect to all payments, computations and other matters relating to the Term Loan of any Lender, the percentage obtained
by dividing (i) the Term Loan Exposure of such Lender, by (ii) the aggregate Term Loan Exposure of all Lenders and (b) with
respect to all payments, computations and other matters relating to the Revolving Commitment or Revolving Loans of any Lender, the percentage
obtained by dividing (i) the Revolving Exposure of such Lender, by (ii) the aggregate Revolving Exposure of all Lenders; provided
that, for all other purposes with respect to each Lender, “Pro Rata Share” means the percentage obtained by dividing
(A) an amount equal to the sum of the Term Loan Exposure and the Revolving Exposure of such Lender, by (B) an amount equal to
the sum of the aggregate Term Loan Exposure and the aggregate Revolving Exposure of all Lenders.

 

“Projections” as defined in Section 4.8.

 

“Protective Advances” as defined in Section 2.3(c).

 

“Qualified ECP Guarantor”
means, in respect of any Swap Obligation, each Credit Party that has total assets exceeding $10,000,000 at the time the relevant Guarantee
or grant of the relevant security interest becomes effective with respect to such Swap Obligation or such other person as constitutes
an “eligible contract participant” under the Commodity Exchange Act or any regulations promulgated thereunder and can cause
another Person to qualify as an “eligible contract participant” at such time by entering into a keepwell under Section 1a(18)(A)(v)(II) of
the Commodity Exchange Act.

 

“Real Estate Asset”
means, at any time of determination, any interest (fee, leasehold or otherwise) then owned by any Credit Party in any real property.

 

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“Real Estate Deliverables”
means (x) with regard to each Leasehold Property, a Landlord Collateral Access Agreement and (y) with regard to each owned real
property, each of the following:

 

(a)            fully
executed and notarized Mortgages, in proper form for recording in all appropriate places in all applicable jurisdictions, encumbering
each Material Real Estate Asset (each, a “Mortgaged Property”);

 

(b)            an
opinion of counsel (which counsel shall be reasonably satisfactory to Collateral Agent) in each state in which a Mortgaged Property is
located with respect to the enforceability of the form(s) of Mortgages to be recorded in such state and such other matters as Collateral
Agent may reasonably request, in each case in form and substance reasonably satisfactory to Collateral Agent;

 

(c)            in
the case of each Leasehold Property that is a Mortgaged Property, (i) a Landlord Consent and Estoppel and (ii) evidence that
such Leasehold Property is a Recorded Leasehold Interest;

 

(d)            (i) ALTA
mortgagee title insurance policies or unconditional commitments therefor issued by one or more title companies reasonably satisfactory
to Collateral Agent with respect to each Mortgaged Property (each, a “Title Policy”), in amounts not less than the
fair market value of each Mortgaged Property, together with a title report issued by a title company with respect thereto, dated not more
than 30 days prior to the Closing Date and copies of all recorded documents listed as exceptions to title or otherwise referred to therein,
each in form and substance reasonably satisfactory to Collateral Agent and (ii) evidence satisfactory to Collateral Agent that such
Credit Party has paid to the title company or to the appropriate Governmental Authorities all expenses and premiums of the title company
and all other sums required in connection with the issuance of each Title Policy and all recording and stamp taxes (including mortgage
recording and intangible taxes) payable in connection with recording the Mortgages for each Mortgaged Property in the appropriate real
estate records;

 

(e)            evidence
of flood insurance with respect to each Flood Hazard Property that is located in a community that participates in the National Flood Insurance
Program, in each case in compliance with any applicable regulations of the Board of Governors of the Federal Reserve System, in form and
substance reasonably satisfactory to Collateral Agent;

 

(f)            ALTA
surveys of all Mortgaged Properties, certified to Collateral Agent and dated not more than 30 days prior to the date on which the Mortgaged
Property is acquired; and

 

(g)            a
Phase I Report for each of the Mortgaged Properties specified by Administrative Agent that is reasonably satisfactory to the Collateral
Agent;

 

provided,
however, that with respect to any Material Real Estate Asset located outside the United States of America, “Real Estate
Deliverables” shall mean items analogous to those set out above for the relevant jurisdiction in which such Material Real Estate
Asset is located as well as any other items which are customarily deliverable to a secured creditor in such jurisdiction.

 

“Recipient” means (a) any Agent or
(b) any Lender, as applicable.

 

“Record Document”
means, with respect to any Leasehold Property, (a) the lease evidencing such Leasehold Property or a memorandum thereof, executed
and acknowledged by the owner of the affected real property, as lessor, or (b) if such Leasehold Property was acquired or subleased
from the holder of a Recorded Leasehold Interest, the applicable assignment or sublease document, executed and acknowledged by such holder,
in each case in form sufficient to give such constructive notice upon recordation and otherwise in form reasonably satisfactory to Collateral
Agent.

 

“Recorded
Leasehold Interest” means a Leasehold Property with respect to which a Record Document has been recorded in all places
necessary or desirable, in Collateral Agent’s reasonable discretion, to give constructive notice of such Leasehold Property to
third-party purchasers and encumbrancers of the affected real property.

 

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“Register” as defined in Section 10.6(c).

 

“Regulation D” means Regulation
D of the Board of Governors of the Federal Reserve System, as in effect from time to time.

 

“Regulatory Permits” means all Permits
issued or required under applicable Health Care Laws.

 

“Related Agreements” means,
collectively, (i) the Closing Date Acquisition Documents and (ii) any other acquisition related documents, subordinated
debt documents, second lien documents, preferred stock and other material documents that could reasonably be expected to have a
credit impact or capitalization impact on Holdings or any of its Subsidiaries.

 

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

 

“Release”
means any release, spill, emission, leaking, pumping, pouring, injection, escaping, deposit, disposal, discharge, dispersal, dumping,
leaching or migration of any Hazardous Material into the indoor or outdoor environment (including the abandonment or disposal of any barrels,
containers or other closed receptacles containing any Hazardous Material), including the movement of any Hazardous Material through the
air, soil, surface water or groundwater.

 

“Relevant Governmental
Body” means the Board of Governors of the Federal Reserve System or the Federal Reserve Bank of New York, or a committee officially
endorsed or convened by the Board of Governors of the Federal Reserve System or the Federal Reserve Bank of New York, or any successor
thereto.

 

“Replacement Lender” as defined in Section 2.23(b).

 

“Required Mandatory Prepayment Amount” as
defined in Section 2.15(c).

 

“Required Prepayment Date” as defined in
Section 2.15(c).

 

“Requirement of Law”
means, with respect to any Person, the common law and any federal, state, local, foreign, multinational or international laws, statutes,
codes, treaties, standards, rules and regulations, guidelines, ordinances, orders, judgments, writs, injunctions, decrees (including
administrative or judicial precedents or authorities) and the interpretation or administration thereof by, and other determinations, directives,
requirements or requests of, any Governmental Authority, in each case whether or not having the force of law and that are applicable to
or binding upon such Person or any of its property or to which such Person or any of its property is subject.

 

“Requisite Class Lenders”
means, at any time of determination, but subject to the provisions of Section 2.21, (a) for the Class of Lenders
having Term Loan Exposure, Lenders holding more than 50% of the aggregate Term Loan Exposure of all Lenders and (b) for the Class of
Lenders having Revolving Exposure, Lenders holding more than 50% of the aggregate Revolving Exposure of all Lenders. The Total Credit
Exposure of any Defaulting Lender with respect to such Class shall be disregarded in determining Requisite Class Lenders at
any time.

 

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“Requisite Lenders”
means one or more Lenders having or holding Term Loan Exposure and/or Revolving Exposure and representing more than 50% of the sum of
(a) the aggregate Term Loan Exposure of all Lenders and (b) the aggregate Revolving Exposure of all Lenders. The Total Credit
Exposure of any Defaulting Lender with respect to such Class shall be disregarded in determining Requisite Lenders at any time.

 

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

 

“Restricted Junior
Payment” means (a) any dividend or other distribution, direct or indirect, on account of any shares of any class of Capital
Stock of Holdings or any of its Subsidiaries now or hereafter outstanding, except a dividend payable solely in shares of that class of
Capital Stock to the holders of that class; (b) any redemption, retirement, sinking fund or similar payment, purchase or other acquisition
for value, direct or indirect, of any shares of any class of Capital Stock of Holdings or any of its Subsidiaries now or hereafter outstanding;
(c) any payment made to retire, or to obtain the surrender of, any outstanding warrants, options or other rights to acquire shares
of any class of Capital Stock of Holdings or any of its Subsidiaries now or hereafter outstanding; (d) management, advisory or similar
fees or indemnities payable to Sponsor, the Manager or any of their Affiliates or any other Affiliates of Holdings or any of its Subsidiaries;
and (e) any payment or prepayment of principal of, premium, if any, or interest on, or redemption, purchase, retirement, defeasance
(including in substance or legal defeasance), sinking fund or similar payment with respect to, any subordinated Indebtedness.

 

“Revolving Commitment”
means the commitment of a Lender to make or otherwise fund any Revolving Loan and “Revolving Commitments” means such commitments
of all Lenders in the aggregate; provided that the amount of each Lender’s Revolving Commitment, if any, is set forth on
Appendix A-2 or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions
hereof; provided, further, that the aggregate amount of the Revolving Commitments on and as of the Closing Date is $2,000,000.

 

“Revolving Commitment
Period” means the period from the Closing Date to but excluding the Revolving Commitment Termination Date.

 

“Revolving Commitment
Termination Date” means the earliest to occur of (a) September 30, 2026; (b) the date the Revolving Commitments
are permanently reduced to zero pursuant to Section 2.13(b); and (c) the date of the termination of the Revolving Commitments
pursuant to Section 8.1.

 

“Revolving Exposure” means, with
respect to any Lender as of any date of determination, (a) prior to the termination of the Revolving Commitments, such
Lender’s Revolving Commitment; and (b) after the termination of the Revolving Commitments, the aggregate outstanding
principal amount of the Revolving Loans of such Lender.

 

“Revolving Loan” means a revolving loan
made by a Lender to Borrower pursuant to Section 2.3.

 

“Revolving Loan Note” means a promissory
note substantially in the form of Exhibit B-2.

 

“S&P” means Standard &
Poor's Financial Services LLC.

 

“Sanctioned Country” means, at
any time, a country or territory which is the subject or target of any comprehensive countrywide or territory-wide Sanctions.

 

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“Sanctioned Person”
means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by the United States government
(including without limitation, OFAC), the United Nations Security Council, the European Union or any European Union member state, Canada,
or the United Kingdom, (b) any Person operating, organized or resident in a Sanctioned Country or (c) any Person 50% or more
owned or controlled by any such Person described in clause (a) or (b).

 

“Sanctions”
means economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the United States
government (including without limitation, OFAC), (b) the United Nations Security Council, (c) the European Union, (d) any
European Union member state, (e) Her Majesty’s Treasury of the United Kingdom, (f) Canada or (g) any other relevant
sanctions authority with jurisdiction over Holdings or any of its Subsidiaries.

 

“SEC Proceeding”
means the contested civil proceeding filed on February 4, 2021 by the United States Securities and Exchange Commission against GPB
Capital Holdings, Ascendent Capital, LLC, Ascendent Alternative Strategies, LLC, David Gentile, Jeffry Schneider and Jeffrey Lash in the
EDNY Court case no. 21-cv-00583-MKB-VMS.

 

“Second Currency” as defined in Section 10.25.

 

“Secured Parties” as defined in the Pledge
and Security Agreement.

 

“Securities”
means any stock, shares, partnership interests, voting trust certificates, certificates of interest or participation in any profit sharing
agreement or arrangement, options, warrants, bonds, debentures, notes, or other evidences of indebtedness, secured or unsecured, convertible,
subordinated or otherwise, or in general any instruments commonly known as “securities” or any certificates of interest, shares
or participations in temporary or interim certificates for the purchase or acquisition of, or any right to subscribe to, purchase or acquire,
any of the foregoing.

 

“Securities Account” as defined in the Pledge
and Security Agreement.

 

“Security and Data
Privacy Laws” means all Requirements of Law, Contractual Obligations and fiduciary obligations, privacy policies or notices,
or industry standards concerning the privacy, protection, transfer or security (including breach notification obligations) of Personal
Information, including but not limited to HIPAA, the California Consumer Privacy Act, the General Data Protection Regulation, and the
Payment Card Industry Data Security Standard.

 

“Similar Law”
means federal, state or local laws, rules or regulations applicable to governmental plans (as defined in Section 3(32) of ERISA)
and similar to Title I of ERISA or Section 4975 of the Internal Revenue Code.

 

“SOFR”
means, for any Business Day, a rate per annum equal to the secured overnight financing rate for such Business Day published by the Federal
Reserve Bank of New York (or a successor administrator of the secured overnight financing rate) on the website of the Federal Reserve
Bank of New York, currently at http://www.newyorkfed.org (or any successor source for the secured overnight financing rate identified
as such by the administrator of the secured overnight financing rate from time to time).

 

“Sole Lead Arranger” as defined in the preamble
hereto.

 

“Solvency Certificate”
means a Solvency Certificate of the chief financial officer of Holdings substantially in the form of Exhibit E-2.

 

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“Solvent”
means, with respect to any Person, that as of the date of determination, both (a)(i) the sum of such Person’s debt (including
contingent liabilities) does not exceed the present fair saleable value of such Person’s present assets; (ii) such Person’s
capital is not unreasonably small in relation to its business as contemplated on the Closing Date and reflected in the Projections or
with respect to any transaction contemplated or undertaken after the Closing Date; and (c) such Person has not incurred and does
not intend to incur, or believe (nor should it reasonably believe) that it will incur, debts beyond its ability to pay such debts as they
become due (whether at maturity or otherwise); and (b) such Person is “solvent” within the meaning given that term and
similar terms under applicable laws relating to fraudulent transfers and conveyances; provided that for purposes of this definition,
the amount of any contingent liability at any time shall be computed as the amount that, in light of all of the facts and circumstances
existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability (irrespective of
whether such contingent liabilities meet the criteria for accrual under Statement of Financial Accounting Standard No. 5).

 

“Sponsor” means GPB Holdings II, LP, a Delaware
limited partnership.

 

“Sponsor GP” means GPB Capital Holdings,
LLC, a Delaware limited liability company.

 

“Spot Rate”
means, on any day, with respect to any currency in relation to Dollars, the rate at which such currency may be exchanged into Dollars,
as set forth at approximately 12:00 noon, London time, on such date on the applicable Bloomberg page for such currency. In the event
that such rate does not appear on the applicable Bloomberg Page, the Spot Rate shall be calculated by reference to such other publicly
available service for displaying exchange rates as may be agreed upon by Administrative Agent and Borrower, or, in the absence of such
agreement, such Spot Rate shall instead be the arithmetic average of the spot rates of exchange of Administrative Agent, at or about 11:00
a.m., London time, on such date for the purchase of Dollars for delivery two Business Days later; provided that if, at the time
of any such determination, for any reason, no such spot rate is being quoted, Administrative Agent, after consultation with Borrower,
may use any reasonable method it deems appropriate to determine such rate, and such determination shall be conclusive absent manifest
error.

 

“Subject Transaction” as defined in Section 6.8(c).

 

“Subsidiary”
means, with respect to any Person, any corporation, partnership, limited liability company, association, joint venture or other business
entity of which more than 50% of the total voting power of shares of stock or other ownership interests entitled (without regard to the
occurrence of any contingency) to vote in the election of the Person or Persons (whether directors, managers, trustees or other Persons
performing similar functions) having the power to direct or cause the direction of the management and policies thereof is at the time
owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof;
provided, in determining the percentage of ownership interests of any Person controlled by another Person, no ownership interest
in the nature of a “qualifying share” of the former Person shall be deemed to be outstanding. For the avoidance of doubt,
Target and its Subsidiaries shall be deemed to be Subsidiaries (as such term is used herein and in any other Credit Document) of Holdings
irrespective of the timing of the execution and delivery of this Agreement and the consummation of the Closing Date Acquisition.

 

“Swap Obligation”
means, 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.

 

“Synthetic Lease”
means a lease transaction under which parties intend that (a) the Lease will be treated as an “operating lease” by the
Lessee pursuant to FASB ASC 840 and (b) all rental and purchase price payment obligations of such Person
under such Synthetic Leases assuming such Person exercises the option to purchase the lease property at the end of the term.

 

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“Synthetic Lease Obligations”
means, with respect to any Person, the sum of (a) all remaining rental obligations of such Person as lessee under Synthetic Leases
which are attributable to principal and, without duplication (b) all rental and purchase price payment obligations of such Person
under such Synthetic Leases assuming such Person exercises the option to purchase the lease property at the end of the lease term.

 

“Target” as defined in the recitals hereto.

 

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

 

“Term Loans” means a term loan made by
a Lender to Borrower pursuant to Section 2.1.

 

“Term Loan
Commitment” means the commitment of a Lender to make or otherwise fund a Term Loan and “Term Loan
Commitments” means such commitments of all Lenders in the aggregate; provided that the amount of each
Lender’s Term Loan Commitment, if any, is set forth on Appendix A-1 or in the applicable Assignment Agreement, subject
to any adjustment or reduction pursuant to the terms and conditions hereof; provided, further, that the aggregate
amount of the Term Loan Commitments on and as of the Closing Date is $55,000,000.

 

“Term Loan Exposure”
means, with respect to any Lender, as of any date of determination, the outstanding principal amount of the Term Loans of such Lender;
provided, at any time prior to the making of the Term Loans, the Term Loan Exposure of any Lender shall be equal to such Lender’s
Term Loan Commitment.

 

“Term Loan Maturity
Date” means the earlier of (a) September 30, 2026, and (b) the date on which all Term Loans shall become due
and payable in full hereunder, whether by acceleration or otherwise.

 

“Term Loan Note” means a promissory note
substantially in the form of Exhibit B-1.

 

“Term SOFR” means, for the applicable
corresponding tenor, the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental Body.

 

“Terminated Lender” as defined in Section 2.23(b).

 

“Third Party Payor” means any
Governmental Payor, private insurer, managed care plan, and any other person or entity which presently or in the future maintains Third
Party Payor Programs.

 

“Third Party Payor Programs” means
all payment or reimbursement programs, sponsored or maintained by any Third Party Payor, in which Holdings or any of its Subsidiaries
participates.

 

“Title Policy” as defined in clause (d) of
the definition of “Real Estate Deliverables”.

 

“Total Credit Exposure” means,
as to any Lender at any time, the unused Commitments, Revolving Credit Exposure and outstanding Term Loans of such Lender at such time.

 

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“Total Leverage Ratio”
means, as of any date of determination, the ratio of (a) Consolidated Total Debt as of such date of determination to (b) Consolidated
Adjusted EBITDA for the four consecutive Fiscal Quarters ending on (or, if such determination is not made as of the last day of a Fiscal
Quarter, immediately prior to) such date of determination.

 

“Total Utilization
of Revolving Commitments” means, as of any date of determination, the aggregate principal amount of all outstanding Revolving
Loans.

 

“Trade Arrangements” as defined in Section 10.17.

 

“Transaction Costs”
means the fees, costs and expenses payable by Holdings, Borrower or any of Borrower’s Subsidiaries on or before the Closing Date
in connection with the transactions contemplated by the Credit Documents and the Related Agreements, to the extent approved in writing
by Administrative Agent.

 

“Type of Loan”
means, with respect to any Loan, whether such Loan is a Base Rate Loan or a LIBOR Rate Loan.

 

“UCC” means
the Uniform Commercial Code (or any similar or equivalent legislation) as in effect in any applicable jurisdiction.

 

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

 

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

 

“Unfunded Pension Liability”
of any Pension Plan means the aggregate amount, if any, by which the present value of all accrued benefits under the Pension Plan, determined
as of the most recent valuation date for the Pension Plan on a plan termination basis in accordance with actuarial assumptions at such
time consistent with those prescribed by the PBGC for purposes of Section 4044 of ERISA, exceeds the fair market value of all Pension
Plan assets allocable to such benefits under Title IV of ERISA (excluding any accrued but unpaid contributions).

 

“Unrestricted
Cash-on-Hand” means, as of any date of determination, all Cash and Cash Equivalents owned by Holdings and its Subsidiaries and
held in any Controlled Account in the United States or otherwise subject to a first priority perfected Lien in favor of Collateral Agent,
in each case, on such date of determination (excluding, for purposes of clarity, any amounts available to be drawn or funded under lines
of credit or other debt facilities, including any revolving loans); provided that amounts included under this definition shall
(x) be included only to the extent such amounts are not subject to any consensual Lien or other restriction or encumbrance of any
kind (other than Liens in favor of Collateral Agent and Permitted Liens permitted under Sections 6.2(a), (b)(i), (x), and (y))
and (y) exclude any amounts held by Holdings or any of its Subsidiaries in escrow, trust or other fiduciary capacity for or on behalf
of a client, borrower or customer of Holdings, its Subsidiaries or any of their respective Affiliates.

 

“Unsuccessful Security Incidents” as defined
in Section 4.34.

 

“U.S. Person” as defined in Section 7701(a)(30)
of the Internal Revenue Code.

 

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“U.S. Tax Compliance Certificate” as defined
in Section 2.20(g)(ii)(B)(3).

 

“Waivable Mandatory Prepayment” as defined in Section 2.15(c).

 

“Withdrawal Liability”
means liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are
defined in Part I of Subtitle E of Title IV of ERISA.

 

“Withholding Agent” means any Credit Party
and Administrative Agent.

 

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

 

“Yield Maintenance Premium” as defined in
the Fee Letter.

 

1.2          Accounting
Terms. Except as otherwise expressly provided herein, all accounting terms not otherwise defined herein shall have the meanings assigned
to them in conformity with GAAP. Financial statements and other information required to be delivered to Lenders pursuant to Sections
5.1(a), 5.1(b) and 5.1(c) shall be prepared in accordance with GAAP as in effect at the time of such preparation
(and delivered together with the reconciliation statements provided for in Section 5.1(e), if applicable). Subject to the
foregoing, calculations in connection with the definitions, covenants and other provisions hereof shall utilize accounting principles
and policies in conformity with those used to prepare the Historical Financial Statements. To the extent there are any changes in GAAP
from the date of this Agreement, if at any time such change in GAAP would affect the computation of any financial ratio or requirement
set forth in any Credit Document, and Borrower or Administrative Agent shall so request, Administrative Agent and Borrower shall negotiate
in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP; provided
that, until so amended, such ratio or requirement shall continue to be computed in accordance with GAAP as in effect immediately prior
to such change therein. Any obligation of a Person under a lease that is not (or would not be) required to be classified and accounted
for as a capitalized lease (or otherwise be treated similarly) on a balance sheet of such Person under GAAP as in effect as of December 31,
2017, shall not be treated as a capitalized lease as a result of the adoption of changes in, or in the application of, GAAP and shall
continue to be treated as an operating lease and shall not constitute Indebtedness for purposes of the Credit Documents or for any related
definitions or in the computation of any financial ratio or requirement), is or should be accounted for as a finance lease on the balance
sheet of that Person.

 

1.3          Interpretation, etc.

 

(a)            Any
of the terms defined herein may, unless the context otherwise requires, be used in the singular or the plural, depending on the reference.

 

(b)            References
herein to any Section, Appendix, Schedule or Exhibit shall be to a Section, an Appendix, a Schedule or an Exhibit, as the case may
be, hereof unless otherwise specifically provided.

 

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(c)          The
use herein of the word “include” or “including,” when following any general statement, term or matter, shall not
be construed to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to
similar items or matters, whether or not no limiting language (such as “without limitation” or “but not limited to”
or words of similar import) is used with reference thereto, but rather shall be deemed to refer to all other items or matters that fall
within the broadest possible scope of such general statement, term or matter. If any obligation of payment or performance required under
the Credit Documents falls on a day which is not a Business Day, then (except as set forth in the definition of Interest Period) the due
date will be extended to the immediately following Business Day.

 

(d)          The
word “will” shall be construed to have the same meaning and effect as the word “shall”.

 

(e)          Unless
the context requires otherwise (i) any definition of or reference to any agreement, instrument or other document herein shall be
construed as referring to such agreement, instrument or other document as it was originally executed and delivered or as it may from
time to time be amended, amended and restated, supplemented or otherwise modified (subject to any restrictions on such amendments, amendments
and restatements, supplements or modifications set forth herein), (ii) any reference herein to any Person shall be construed to
include such Person’s successors and permitted assigns, (iii) the
words “hereof”, “herein” and “hereunder” and words of similar import shall be construed to refer
to this Agreement as a whole and not to any particular provision hereof, (iv) any reference to any law or regulation herein shall,
unless otherwise specified, refer to such law or regulation as amended, modified or supplemented from time to time and (v) the words
 “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible
and intangible assets and properties, including cash, securities, accounts and contract rights.

 

1.4          Benchmark
Replacement Settings. Notwithstanding anything to the contrary herein or in any other Credit Document (and any Hedging Transactions
shall be deemed not to be a “Credit Document” for purposes of this Section):

 

(a)          Replacing
Adjusted LIBOR Rate. On March 5, 2021 the Financial Conduct Authority (“FCA”), the regulatory supervisor
of Adjusted LIBOR Rate’s administrator (“IBA”), announced in a public statement the future cessation or loss
of representativeness of overnight/Spot Next, 1-month, 3- month, 6-month and 12-month Adjusted LIBOR Rate tenor settings. On the earlier
of (i) the date that all Available Tenors of Adjusted LIBOR Rate have either permanently or indefinitely ceased to be provided by
IBA or have been announced by the FCA pursuant to public statement or publication of information to be no longer representative and (ii) the
Early Opt-in Effective Date, if the then-current Benchmark is Adjusted LIBOR Rate, the Benchmark Replacement will replace such Benchmark
for all purposes hereunder and under any Credit Document in respect of any setting of such Benchmark on such day and all subsequent settings
without any amendment to, or further action or consent of any other party to this Agreement or any other Credit Document. If the Benchmark
Replacement is Daily Simple SOFR, all interest payments will be payable on a monthly basis.

 

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(b)          Replacing
Future Benchmarks. Upon the occurrence of a Benchmark Transition Event, the Benchmark Replacement will replace the
then-current Benchmark for all purposes hereunder and under any Credit Document in respect of any Benchmark setting at or after 5:00
p.m. on the fifth (5th) Business Day after the date notice of such Benchmark Replacement
is provided to the Lenders without any amendment to, or further action or consent of any other party to, this Agreement or any other
Credit Document so long as Administrative Agent has not received, by such time, written notice of objection to such Benchmark
Replacement from Lenders comprising the Requisite Lenders of each Class. At any time that the administrator of the then-current
Benchmark has permanently or indefinitely ceased to provide such Benchmark or such Benchmark has been announced by the regulatory
supervisor for the administrator of such Benchmark pursuant to public statement or publication of information to be no longer
representative of the underlying market and economic reality that such Benchmark is intended to measure and that representativeness
will not be restored, Borrower may revoke any request for a borrowing of, conversion to or continuation of Loans to be made,
converted or continued that would bear interest by reference to such Benchmark until Borrower’s receipt of notice from
Administrative Agent that a Benchmark Replacement has replaced such Benchmark, and, failing that, Borrower will be deemed to have
converted any such request into a request for a borrowing of or conversion to Base Rate Loans. During the period referenced in the
foregoing sentence, the component of Base Rate based upon the Benchmark will not be used in any determination of Base Rate.

 

(c)          Benchmark
Replacement Conforming Changes. In connection with the implementation and administration of a Benchmark Replacement, Administrative
Agent will have the right, in consultation with Borrower, to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding
anything to the contrary herein or in any other Credit Document, any amendments implementing such Benchmark Replacement Conforming Changes
will become effective without any further action or consent of any other party to this Agreement.

 

(d)          Notices;
Standards for Decisions and Determinations. Administrative Agent will promptly notify Borrower and the Lenders of
(i) the implementation of any Benchmark Replacement and (ii) the effectiveness of any Benchmark Replacement Conforming
Changes. Any determination, decision or election that may be made by Administrative Agent or, if applicable, any Lender (or group of
Lenders) pursuant to this Section, including any determination with respect to a tenor, rate or adjustment or of the occurrence or
non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action, will be conclusive and
binding absent manifest error and may be made in its or their sole discretion and without consent from any other party hereto,
except, in each case, as expressly required pursuant to this Section.

 

(e)          Unavailability
of Tenor of Benchmark. At any time (including in connection with the implementation of a Benchmark Replacement), (i) if the
then-current Benchmark is a term rate (including Term SOFR or Adjusted LIBOR Rate), then Administrative Agent may remove any tenor of
such Benchmark that is unavailable or non-representative for Benchmark (including Benchmark Replacement) settings and (ii) Administrative
Agent may reinstate any such previously removed tenor for Benchmark (including Benchmark Replacement) settings.

 

1.5          Divisions.
For all purposes under the Credit Documents, in connection with any division or plan of division under Delaware law (or any comparable
event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset,
right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the
subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the
first date of its existence by the holders of its Capital Stock at such time. Any reference herein to a merger, transfer, consolidation,
amalgamation, assignment, sale, or disposition, or similar term, shall be deemed to apply to a division of or by a limited liability company,
or an allocation of assets to a series of a limited liability companies (or the unwinding of such a division or allocation), as if it
were a merger, transfer, consolidation, amalgamation, assignment, sale, or disposition, or similar term, as applicable, to, of or with
a separate Person.

 

1.6          Exchange
Rates; Currency Equivalents. Without limiting the other terms of this Agreement, the calculations and determinations under this Agreement
of any amount in any currency other than Dollars shall be deemed to refer to the Dollar Amount thereof, as the case may be. Each requisite
currency translation shall be based on the Spot Rate on the relevant date of determination.

 

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SECTION 2.         LOANS

 

2.1          Term
Loans.

 

(a)          Term
Loan Commitments. Subject to the terms and conditions hereof, each Lender severally agrees to make, on the Closing Date, a Term Loan
to Borrower in a principal amount equal to such Lender’s Term Loan Commitment. Borrower may make only one borrowing under the Term
Loan Commitments which shall be on the Closing Date. Any amount borrowed under this Section 2.1(a) and subsequently repaid
or prepaid may not be reborrowed. Subject to Section 2.12, Section 2.13 and Section 2.14, all amounts
owed hereunder with respect to the Term Loans shall be paid in full no later than the Term Loan Maturity Date. Each Lender’s Term
Loan Commitment shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such
Lender’s Term Loan Commitment on such date.

 

		(b)	Borrowing Mechanics for Term Loans.

 

(i)          Borrower
shall deliver to Administrative Agent a fully executed Funding Notice no later than three Business Days prior to the Closing Date. Except
as otherwise provided herein, a Funding Notice for a Term Loan that is a LIBOR Rate Loan shall be irrevocable on and after the related
Interest Rate Determination Date, and Borrower shall be bound to make a borrowing in accordance therewith. Notwithstanding the foregoing,
a Funding Notice delivered by Borrower may state that such Funding Notice is conditioned upon the effectiveness of other transactions,
in which case such Funding Notice may be revoked by Borrower (by notice to Administrative Agent on or prior to the specified effective
date) if such condition is not satisfied, subject only to payment by Borrower of any breakage in accordance with Section 2.18(c) (if
and to the extent applicable). Promptly upon receipt by Administrative Agent of such Funding Notice, Administrative Agent shall notify
each Lender of the proposed borrowing.

 

(ii)          Each
Lender shall make its Term Loan available to Administrative Agent not later than 12:00 p.m. (New York City time) on the Closing Date,
by wire transfer of same day funds in Dollars, at Administrative Agent’s Principal Office. Upon satisfaction or waiver of the conditions
precedent specified herein and receipt of all funds requested in the applicable Funding Notice, Administrative Agent shall make the proceeds
of the Term Loans available to Borrower on the Closing Date by causing an amount of same day funds in Dollars equal to the proceeds of
all such Term Loans received by Administrative Agent from Lenders to be credited by wire transfer to the account of Borrower as shall
be designated in writing to Administrative Agent by Borrower in said Funding Notice.

 

		2.2	[Reserved]

 

		2.3	Revolving Loans.

 

(a)          Revolving
Commitments. During the Revolving Commitment Period, subject to the terms and conditions hereof, each Lender severally agrees to make
Revolving Loans to Borrower in an aggregate principal amount up to but not exceeding such Lender’s Revolving Commitment; provided
that after giving effect to the making of any Revolving Loans in no event shall the Total Utilization of Revolving Commitments exceed
the Revolving Commitments then in effect. Amounts borrowed pursuant to this Section 2.3(a) may be repaid or prepaid and
reborrowed during the Revolving Commitment Period. Each Lender’s Revolving Commitment shall expire on the Revolving Commitment Termination
Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Commitments shall
be paid in full no later than such date.

 

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		(b)	Borrowing Mechanics for Revolving Loans.

 

(i)          Except
pursuant to Section 2.4(d), Revolving Loans that are Base Rate Loans shall be made in an aggregate minimum principal amount
of $500,000 and integral multiples of $100,000 in excess of that amount, and Revolving Loans that are LIBOR Rate Loans shall be in an
aggregate minimum principal amount of $500,000 and integral multiples of $100,000 in excess of that amount.

 

(ii)          Whenever
Borrower desires that Lenders make Revolving Loans, Borrower shall deliver to Administrative Agent a fully executed Funding Notice no
later than 10:00 a.m. (New York City time) at least three Business Days in advance of the proposed Credit Date in the case of a LIBOR
Rate Loan, and at least one Business Day in advance of the proposed Credit Date in the case of a Revolving Loan that is a Base Rate Loan.
Except as otherwise provided herein, a Funding Notice for a Revolving Loan that is a LIBOR Rate Loan shall be irrevocable on and after
the related Interest Rate Determination Date, and Borrower shall be bound to make a borrowing in accordance therewith. Notwithstanding
the foregoing, a Funding Notice for a Revolving Loan delivered by Borrower may state that such Funding Notice is conditioned upon the
effectiveness of other transactions, in which case such Funding Notice may be revoked by Borrower (by notice to Administrative Agent on
or prior to the specified effective date) if such condition is not satisfied, subject only to payment by Borrower of any breakage in accordance
with Section 2.18(c) (if and to the extent applicable).

 

(iii)          Notice
of receipt of each Funding Notice in respect of Revolving Loans, together with the amount of each Lender’s Pro Rata Share thereof,
if any, together with the applicable interest rate, shall be promptly provided by Administrative Agent to each applicable Lender by electronic
mail or telefacsimile after Administrative Agent’s receipt of such Funding Notice from Borrower.

 

(iv)          Each
Lender shall make the amount of its Revolving Loan available to Administrative Agent not later than 12:00 p.m. (New York City time)
on the applicable Credit Date by wire transfer of same day funds in Dollars, at Administrative Agent’s Principal Office. Except
as provided herein, upon satisfaction or waiver of the conditions precedent specified herein, Administrative Agent shall make the proceeds
of such Revolving Loans available to Borrower on the applicable Credit Date by causing an amount of same day funds in Dollars equal to
the proceeds of all such Revolving Loans received by Administrative Agent from Lenders to be credited to the account of Borrower at Administrative
Agent’s Principal Office or such other account as shall be designated in writing to Administrative Agent by Borrower.

 

(c)          Protective
Advances. Subject to the limitations set forth below, and whether or not an Event of Default or a Default shall have occurred
and be continuing, Administrative Agent is authorized by Borrower and the Lenders, from time to time in Administrative Agent’s
sole discretion (but Administrative Agent shall have absolutely no obligation to), to make Revolving Loans to Borrower on behalf of
the Lenders with Revolving Commitments, which Administrative Agent, in its sole discretion, deems necessary or desirable (i) to
preserve or protect the Collateral, or any portion thereof, (ii) to enhance the likelihood of, or maximize the amount of,
repayment of the Loans and other Obligations, or (iii) to pay any other amount chargeable to or required to be paid by Borrower
pursuant to the terms of this Agreement and the other Credit Documents, including, without limitation, payments of principal,
interest, fees and reimbursable expenses (any of such Loans are in this clause (c) referred to as “Protective
Advances”); provided that the amount of Revolving Loans plus Protective Advances shall not exceed the
Revolving Commitments then in effect. Protective Advances may be made even if the conditions precedent set forth in Section 3
have not been satisfied or waived. All Protective Advances shall initially be Base Rate Loans. Each Protective Advance shall be
secured by the Liens in favor of Collateral Agent in and to the Collateral and shall constitute Obligations hereunder. Borrower
shall pay the unpaid principal amount and all unpaid and accrued interest of each Protective Advance on the Revolving Commitment
Termination Date (or, if an Event of Default has occurred and is continuing, the date on which demand for payment is made by
Administrative Agent).

 

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2.4          [Reserved]

 

2.5          Pro
Rata Shares; Availability of Funds.

 

(a)          Pro
Rata Shares. All Loans shall be made, and all participations purchased, by Lenders simultaneously and proportionately to their respective
Pro Rata Shares, it being understood that no Lender shall be responsible for any default by any other Lender in such other Lender’s
obligation to make a Loan requested hereunder or purchase a participation required hereby nor shall any Commitment of any Lender be increased
or decreased as a result of a default by any other Lender in such other Lender’s obligation to make a Loan requested hereunder or
purchase a participation required hereby.

 

(b)          Availability
of Funds. Unless Administrative Agent shall have been notified by any Lender prior to the applicable Credit Date that such Lender
does not intend to make available to Administrative Agent the amount of such Lender’s Loan requested on such Credit Date, Administrative
Agent may assume that such Lender has made such amount available to Administrative Agent on such Credit Date and Administrative Agent
may, in its sole discretion, but shall not be obligated to, make available to Borrower a corresponding amount on such Credit Date. If
such corresponding amount is not in fact made available to Administrative Agent by such Lender, Administrative Agent shall be entitled
to recover such corresponding amount on demand from such Lender together with interest thereon, for each day from such Credit Date until
the date such amount is paid to Administrative Agent, at the customary rate set by Administrative Agent for the correction of errors among
banks for three Business Days and thereafter at the Base Rate. If such Lender does not pay such corresponding amount forthwith upon Administrative
Agent’s demand therefor, Administrative Agent shall promptly notify Borrower and Borrower shall immediately pay such corresponding
amount to Administrative Agent together with interest thereon, for each day from such Credit Date until the date such amount is paid to
Administrative Agent, at the rate payable hereunder for Base Rate Loans for such Class of Loans. Nothing in this Section 2.5(b) shall
be deemed to relieve any Lender from its obligation to fulfill its Commitments hereunder or to prejudice any rights that Borrower or any
other Credit Party may have against any Lender as a result of any default by such Lender hereunder.

 

2.6          Use
of Proceeds. The proceeds of the Term Loans made on the Closing Date shall be applied by Borrower to (i) finance a portion of
the consideration for the Closing Date Acquisition (other than any portion of the Escrow Amount and/or Earnout Payment) and (ii) pay
Transaction Costs; provided that Administrative Agent shall have no obligation to verify or ensure Borrower’s use of said
funds in accordance with this Section 2.6. The proceeds of the Revolving Loans made after the Closing Date shall be applied
by Borrower for working capital and general corporate purposes of Holdings and its Subsidiaries. No portion of the proceeds of any Credit
Extension shall be used in any manner that causes or might cause such Credit Extension or the application of such proceeds to violate
Regulation T, Regulation U or Regulation X of the Board of Governors of the Federal Reserve System.

 

2.7          Evidence
of Debt; Register; Lenders’ Books and Records; Notes.

 

(a)          Lenders’
Evidence of Debt. Each Lender shall maintain on its internal records an account or accounts evidencing the Obligations of
Borrower to such Lender, including the amounts of the Loans made by it and each repayment and prepayment in respect thereof. Any
such recordation shall be conclusive and binding on Borrower, absent manifest error; provided that the failure to make any
such recordation, or any error in such recordation, shall not affect any Lender’s Commitments or Borrower’s Obligations
in respect of any applicable Loans; provided, further, in the event of any inconsistency between the Register and any
Lender’s records, the recordations in the Register shall govern.

 

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(b)          Notes.
If so requested by any Lender by written notice to Borrower (with a copy to Administrative Agent) at least two Business Days prior to
the Closing Date, or at any time thereafter, Borrower shall execute and deliver to such Lender (and/or, if applicable and if so specified
in such notice, to any Person who is an assignee of such Lender pursuant to Section 10.6) on the Closing Date (or, if such
notice is delivered after the date that is two Business Days prior to the Closing Date, promptly after Borrower’s receipt of such
notice) a Note or Notes to evidence such Lender’s Term Loan or Revolving Loan, as the case may be.

 

2.8          Interest
on Loans.

 

(a)          Cash
Pay Interest. Except as otherwise set forth herein, each Class of Loan shall bear interest on the unpaid principal amount thereof
from the date made to repayment or prepayment (whether by acceleration or otherwise) thereof as follows:

 

		(i)	if a Base Rate Loan, at the Base Rate plus the Applicable Margin; or

 

		(ii)	if a LIBOR Rate Loan, at the Adjusted LIBOR Rate plus the Applicable Margin.

 

(b)          The
basis for determining the rate of interest with respect to any Loan, and the Interest Period with respect to any LIBOR Rate Loan, shall
be selected by Borrower and notified to Administrative Agent and Lenders pursuant to the applicable Funding Notice or Conversion/Continuation
Notice, as the case may be. If on any day a Loan is outstanding with respect to which a Funding Notice or Conversion/Continuation Notice
has not been delivered to Administrative Agent in accordance with the terms hereof specifying the applicable basis for determining the
rate of interest (or with respect to which a Funding Notice or Conversion/Continuation Notice has been deemed to be rescinded pursuant
to Section 2.18(a)), then for that day such Loan shall be a Base Rate Loan.

 

(c)          In
connection with LIBOR Rate Loans there shall be no more than five Interest Periods outstanding at any time. In the event Borrower fails
to specify the Type of Loan in the applicable Funding Notice or Conversion/Continuation Notice, such Loan (if outstanding as a LIBOR Rate
Loan) will be automatically converted into a Base Rate Loan on the last day of the then current Interest Period for such Loan (or if outstanding
as a Base Rate Loan will remain as, or (if not then outstanding) will be made as, a Base Rate Loan). In the event Borrower fails to specify
an Interest Period for any LIBOR Rate Loan in the applicable Funding Notice or Conversion/Continuation Notice, Borrower shall be deemed
to have selected an Interest Period of one month. As soon as practicable after 10:00 a.m. (New York City time) on each Interest Rate
Determination Date, Administrative Agent shall determine (which determination shall, absent manifest error, be final, conclusive and binding
upon all parties) the interest rate that shall apply to the LIBOR Rate Loans for which an interest rate is then being determined for the
applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to Borrower and each
Lender.

 

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(d)          Interest
payable pursuant to Section 2.8(a) shall be computed on the basis of a 360 day year for the actual number of days
elapsed in the period during which it accrues. In computing interest on any Loan, the date of the making of such Loan or the first
day of an Interest Period applicable to such Loan or, with respect to a Base Rate Loan being converted from a LIBOR Rate Loan, the
date of conversion of such LIBOR Rate Loan to such Base Rate Loan, as the case may be, shall be included, and the date of payment of
such Loan or the expiration date of an Interest Period applicable to such Loan or, with respect to a Base Rate Loan being converted
to a LIBOR Rate Loan, the date of conversion of such Base Rate Loan to such LIBOR Rate Loan, as the case may be, shall be excluded; provided,
if a Loan is repaid on the same day on which it is made, one day’s interest shall be paid on that Loan.

 

(e)          Except
as otherwise set forth herein, interest on each Loan shall be payable in arrears (i) on each Interest Payment Date applicable to
such Loan; (ii) upon any prepayment of that Loan, whether voluntary or mandatory, to the extent accrued on the amount being prepaid;
and (iii) at maturity, including final maturity.

 

		2.9	Conversion/Continuation.

 

(a)          Subject
to Section 1.4 and Section 2.18 and so long as no Default or Event of Default shall have occurred and then be
continuing, Borrower shall have the option:

 

(i)          to
convert at any time all or any part of any Loan equal to $500,000 and integral multiples of $100,000 in excess of that amount from one
Type of Loan to another Type of Loan; provided, that a LIBOR Rate Loan may only be converted on the expiration of the Interest
Period applicable to such LIBOR Rate Loan unless Borrower shall pay all amounts due under Section 2.18 in connection with
any such conversion (if any); or

 

(ii)          upon
the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such Loan equal to $500,000
and integral multiples of $100,000 in excess of that amount as a LIBOR Rate Loan.

 

(b)          Borrower
shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one
Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business
Days in advance of the proposed Conversion/Continuation Date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan).
Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans shall
be irrevocable on and after the related Interest Rate Determination Date, and Borrower shall be bound to effect a conversion or continuation
in accordance therewith.

 

2.10          Default
Interest. Upon the occurrence and during the continuance of an Event of Default, the principal amount of all Loans outstanding
and, to the extent permitted by applicable law, any interest payments on the Loans and any fees or other amounts owed hereunder,
shall thereafter bear interest (including post-petition interest in any proceeding under the Bankruptcy Code or other applicable
bankruptcy laws) payable on demand at a rate that is 2.00% per annum in excess of the interest rate otherwise payable hereunder with
respect to the applicable Loans (or, in the case of any such fees and other amounts, at a rate which is 2.00% per annum in excess of
the interest rate otherwise payable hereunder for Base Rate Loans); provided, any LIBOR Rate Loans shall be converted to Base
Rate Loans at the election of Administrative Agent at any time after the occurrence and during the continuance of such Event of
Default (irrespective of whether the Interest Period in effect at the time of such conversion has expired) and thereupon shall
become Base Rate Loans and shall thereafter bear interest payable upon demand at a rate which is 2.00% per annum in excess of the
interest rate otherwise payable hereunder for Base Rate Loans. Payment or acceptance of the increased rates of interest provided for
in this Section 2.10 is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of
Default or otherwise prejudice or limit any rights or remedies of Administrative Agent or any Lender. Default interest payable
pursuant to this Section 2.10 shall be computed on the basis of a 360-day year, for the actual number of days elapsed in
the period during which it accrues.

 

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2.11          Fees.

 

(a)          Borrower
shall pay to Administrative Agent for the benefit of the Lenders having Revolving Exposure commitment fees equal to (i) the average
of the daily difference between (A) the Revolving Commitments, and (B) the aggregate principal amount of outstanding Revolving
Loans, multiplied by (ii) 0.50% per annum.

 

(b)          All
fees referred to in Sections 2.11(a) shall be calculated on the basis of a 360- day year and the actual number of days elapsed
and shall be payable monthly in arrears on the last Business Day of each month during the Revolving Commitment Period, commencing on the
first such date to occur after the Closing Date, and on the Revolving Commitment Termination Date.

 

(c)          All
fees referred to in Sections 2.11(a) shall be paid to Administrative Agent as set forth in Section 2.16(a) and
upon receipt, Administrative Agent shall promptly distribute to each Lender its Pro Rata Share thereof.

 

(d)          In
addition to the foregoing, Borrower agrees to pay to Agents such other fees in the amounts and at the times separately agreed upon in
the Fee Letter.

 

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2.12          Scheduled
Payments. The principal amounts of the Term Loans shall be repaid in consecutive quarterly installments (each, an “Installment”)
in the aggregate principal amounts set forth below on the last Business Day of each Fiscal Quarter set forth below (each, an “Installment
Date”), commencing September 30, 2022:

 

	Fiscal Quarter	 	Term Loan Installments	 
	September 30, 2022	 	$	157,500	 
	December 31, 2022	 	$	157,500	 
	March 31, 2023	 	$	157,500	 
	June 30, 2023	 	$	157,500	 
	September 30, 2023	 	$	393,750	 
	December 31, 2023	 	$	393,750	 
	March 31, 2024	 	$	393,750	 
	June 30, 2024	 	$	393,750	 
	September 30, 2024	 	$	393,750	 
	December 31, 2024	 	$	393,750	 
	March 31, 2025	 	$	393,750	 
	June 30, 2025	 	$	393,750	 
	September 30, 2025	 	$	787,500	 
	December 31, 2025	 	$	787,500	 
	March 31, 2026	 	$	787,500	 
	June 30, 2026 and each Fiscal Quarter (if any) ending thereafter prior to the Term Loan Maturity Date	 	$	787,500	 

 

Notwithstanding the foregoing, (i) such Installments
shall be reduced on a dollar for dollar basis in connection with any voluntary or mandatory prepayments of the Term Loans in accordance
with Sections 2.13, 2.14 and 2.15 as applicable and (ii) the Term Loans, together with all other amounts owed
hereunder with respect thereto, shall, in any event, be paid in full no later than the Term Loan Maturity Date.

 

2.13        Voluntary
Prepayments/Commitment Reductions.

 

(a)          Voluntary
Prepayments.

 

(i)          Any
time and from time to time, but subject to the Fee Letter:

 

(A)          with
respect to Base Rate Loans, Borrower may, at any time and from time to time, in its sole and absolute discretion, prepay any such Loans
on any Business Day in whole or in part, in an aggregate minimum principal amount of $500,000 and integral multiples of $100,000 (or the
remaining amount thereof if such amount is less than either of the foregoing amounts, as applicable) in excess of that amount; and

 

(B)          with
respect to LIBOR Rate Loans, Borrower may, at any time and from time to time, in its sole and absolute discretion, prepay any such
Loans on any Business Day in whole or in part (together with any amounts due pursuant to Section 2.18(c))
in an aggregate minimum principal amount of $500,000 and integral multiples of $100,000 (or the remaining amount thereof if such
amount is less than either of the foregoing amounts, as applicable) in excess of that amount.

 

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(ii)          All
such prepayments shall be made (A) upon not less than one Business Day’s prior written notice in the case of Base Rate Loans
and (B) upon not less than three Business Days’ prior written notice in the case of LIBOR Rate Loans, in each case given to
Administrative Agent by 12:00 p.m. (New York City time) on the date required and, and Administrative Agent will promptly transmit
such notice for Term Loans or Revolving Loans, as the case may be, by telefacsimile or electronic mail to each Lender), it being understood
and agreed that any such notice may state that such notice is conditioned upon the effectiveness of other transactions, in which case
such notice may be revoked by Borrower (by notice to Administrative Agent on or prior to the specified effective date) if such condition
is not satisfied, subject only to payment by Borrower of any breakage in accordance with Section 2.18(c) (if and to the
extent applicable). Upon the giving of any such notice, the principal amount of the Loans specified in such notice shall become due and
payable on the prepayment date specified therein. Any such voluntary prepayment shall be applied as specified in Section 2.15(a) with
respect to Revolving Loans and Section 2.15(b) with respect to Term Loans.

 

(b)          Voluntary
Commitment Reductions. Any time and from time to time, but subject to the Fee Letter:

 

(i)          Borrower
may, upon not less than three Business Days’ prior written notice to Administrative Agent which notice Administrative Agent will
promptly transmit by telefacsimile or electronic mail to each Lender, at any time and from time to time terminate in whole or permanently
reduce in part the Revolving Commitments in an amount up to the amount by which the Revolving Commitments exceed the Total Utilization
of Revolving Commitments at the time of such proposed termination or reduction; provided, any such partial reduction of the Revolving
Commitments shall be in an aggregate minimum principal amount of $500,000 and integral multiples of $100,000 in excess of that amount
(or the remaining amount thereof if such amount is less than either of the foregoing amounts, as applicable), it being understood and
agreed that any such notice may state that such notice is conditioned upon the effectiveness of other transactions, in which case such
notice may be revoked by Borrower (by notice to Administrative Agent on or prior to the specified effective date) if such condition is
not satisfied, subject only to payment by Borrower of any breakage in accordance with Section 2.18(c) (if and to the
extent applicable).

 

(ii)          Borrower’s
notice to Administrative Agent shall designate the date (which shall be a Business Day) of such termination or reduction and the amount
of any partial reduction, and such termination or reduction of the Revolving Commitments shall be effective on the date specified in Borrower’s
notice and shall reduce the Revolving Commitment of each Lender proportionately to its Pro Rata Share thereof.

 

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2.14          Mandatory
Prepayments/Commitment Reductions.

 

(a)          Asset
Sales. No later than the tenth Business Day following the date of actual receipt by any Credit Party of any Net Asset Sale
Proceeds in excess of $500,000 in the aggregate at any time following the Closing Date, Borrower shall prepay the Loans and/or the
applicable Commitments shall be permanently reduced as set forth in Section 2.15(b) in an aggregate amount equal to such
Net Asset Sale Proceeds; provided, so long as no Default or Event of Default shall have occurred and be continuing, upon delivery of
a written notice to Administrative Agent, Borrower shall have the option, directly or through one or more Subsidiaries, to invest
Net Asset Sale Proceeds (the “Asset Sale Reinvestment Amounts”) in long-term productive assets of the general
type used in the business of Borrower if such assets are purchased or constructed within 180 days following actual receipt of such
Net Asset Sale Proceeds (and so long as any such individual or aggregate investment in the amount of $500,000 or more has been
consented to by Administrative Agent and Required Lenders); provided further, pending any such reinvestment all Asset Sale
Reinvestment Amounts shall, at the option of Borrower, be applied to prepay Revolving Loans to the extent then outstanding (without
a reduction in Revolving Commitments) and, to the extent such Asset Sale Reinvestment Amounts exceed the amount required to prepay
all such Revolving Loans, the balance thereof shall be held at all times prior to such reinvestment, in an escrow account in form
and substance reasonably acceptable to Administrative Agent. In the event that the Asset Sale Reinvestment Amounts are not
reinvested by Borrower prior to the earlier of (i) the last day of such 180 day period (or, if committed to be so reinvested,
within 365 days after actual receipt thereof), and (ii) the date of the occurrence of an Event of Default, Administrative Agent
shall apply such Asset Sale Reinvestment Amounts to the Obligations as set forth in Section 2.15(b).

 

(b)          Insurance/Condemnation
Proceeds. No later than the third Business Day following the date of actual receipt by Holdings or any of its Subsidiaries, or Administrative
Agent as lender’s loss payee, of any Net Insurance/Condemnation Proceeds, Borrower shall prepay the Loans and/or the applicable
Commitments shall be permanently reduced as set forth in Section 2.15(b) in an aggregate amount equal to such Net Insurance/Condemnation
Proceeds; provided (i) so long as no Default or Event of Default shall have occurred and be continuing, and (ii) to the extent
that aggregate Net Insurance/Condemnation Proceeds from the Closing Date through the applicable date of determination do not exceed $500,000,
Borrower shall have the option, directly or through one or more of its Subsidiaries to invest such Net Insurance/Condemnation Proceeds
within 180 days of actual receipt thereof in long term productive assets of the general type used in the business of Holdings and its
Subsidiaries, which investment may include the repair, restoration or replacement of the applicable assets thereof; provided further,
pending any such investment all such Net Insurance/Condemnation Proceeds, shall be applied to prepay Revolving Loans to the extent outstanding
(without a reduction in Revolving Commitments), and, to the extent such Net Insurance/Condemnation Proceeds exceed the amount required
to prepay all such Revolving Loans, the balance thereof shall be held at all times prior to such reinvestment, in an escrow account in
form and substance reasonably acceptable to Administrative Agent. In the event that such Net Insurance/Condemnation Proceeds are not
reinvested by Borrower prior to the earlier of (x) the last day of such 180 day period (or, if committed to be so reinvested, within
365 days after actual receipt thereof) and (y) the
date of the occurrence of a Default or an Event of Default, Administrative Agent shall apply such Net Insurance/Condemnation Proceeds
to the Obligations as set forth in Section 2.15(b).

 

(c)          Issuance
of Equity Securities. No later than the third Business Day following the date of actual receipt by Holdings of any Cash proceeds from
a capital contribution to or the issuance of any Capital Stock of (including for the avoidance of doubt, the proceeds of any Equity Cure
Investment, but excluding any proceeds used to fund the Blocked Account (pursuant to Section 5.20), the Escrow Amount
and/or the Earnout Payment) Holdings or any of its Subsidiaries, Borrower shall prepay, or cause the prepayment of, the Loans and/or applicable
Commitments shall be permanently reduced as set forth in Section 2.15(b) in an aggregate principal amount equal to 100%
of such Cash proceeds, net of underwriting discounts and commissions and other reasonable costs and expenses associated therewith, in
each case, paid to non-Affiliates, including reasonable legal fees and expenses.

 

(d)          Issuance
of Debt. On the date of actual receipt by Holdings or any of its Subsidiaries of any Cash proceeds from the incurrence of any
Indebtedness of Holdings or any of its Subsidiaries (other than with respect to any Indebtedness permitted to be incurred pursuant
to Section 6.1), Borrower shall prepay the Term Loans and/or the applicable Commitments shall be permanently reduced as
set forth in Section 2.15(b) in an aggregate principal amount equal to 100% of such proceeds, net of underwriting
discounts and commissions and other reasonable costs and expenses associated therewith, in each case, paid to non-Affiliates,
including reasonable legal fees and expenses.

 

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(e)          Consolidated
Excess Cash Flow. In the event that there shall be Consolidated Excess Cash Flow for any Fiscal Year (commencing with Fiscal
Year ending December 31, 2022), Borrower shall, no later than the later of (i) 90 days after the end of such Fiscal Year
and (ii) the date on which the Borrower is required to deliver financial statements pursuant to Section 5.1(c),
prepay, or cause the prepayment of, the Loans and/or the applicable Commitments shall be permanently reduced as set forth in Section 2.15(b) in
an aggregate principal amount equal to (a) if the Total Leverage Ratio as of the last day of such Fiscal Year is greater than
or equal to 4.50:1.00, 75% of such Consolidated Excess Cash Flow, (b) if
the Total Leverage Ratio as of the last day of such Fiscal Year is less than 4.50:1.00 but greater than or equal to 3.50:1.00, 50%
of such Consolidated Excess Cash Flow or (c) if the Total Leverage Ratio as of the last day of such Fiscal Year is less than
3.50:1.00, 25% of such Consolidated Excess Cash Flow. Any amounts prepaid pursuant to this Section 2.14(e) with
respect to any Fiscal Year in excess of the required percentage of Consolidated Excess Cash Flow shall be treated as voluntary
prepayments made pursuant to Section 2.13(a).

 

(f)          Revolving
Loans. Borrower shall from time to time prepay, or cause the prepayment of, the Revolving Loans to the extent necessary so that the
Total Utilization of Revolving Commitments shall not at any time exceed the Revolving Commitments then in effect.

 

(g)          Tax
Refunds. No later than the fifth Business Day following the date of actual receipt by Holdings or any of its Subsidiaries of any tax
refunds in excess of $500,000 in the aggregate in any Fiscal Year, Borrower shall prepay, or cause the prepayment of, the Loans and/or
the applicable Commitments shall be permanently reduced as set forth in Section 2.15(b) in the amount equal to 50% of
such tax refunds (net of any actual and reasonable costs (including tax costs) incurred by Holdings or any of its Subsidiaries in connection
with the pursuit, or receipt, of any such tax refund) in excess of $500,000 (to the extent such net tax refunds are not captured by Excess
Cash Flow payments required pursuant to Section 2.14(e)) (it being understood and agreed that all proceeds of all such tax
refunds shall be deposited into a Controlled Account on the same Business Day as receipt thereof).

 

(h)          [Reserved].

 

(i)          Escrow
and Indemnity Proceeds. No later than the fifth Business Day following the date of actual receipt by any Credit Party of any Net Escrow
and Indemnity Proceeds, Borrower shall prepay, or shall cause the prepayment of, the Loans and/or the applicable Commitments shall be
permanently reduced as set forth in Section 2.15(b) in an aggregate principal amount equal to such Net Escrow and Indemnity
Proceeds; provided (i) so long as no Default or Event of Default shall have occurred and be continuing and (ii) Borrower shall
have the option, directly or through one or more of their Subsidiaries, to invest such Net Escrow and Indemnity Proceeds within 180 days
of receipt thereof in long- term productive assets of the general type used in the business of Holdings and its Subsidiaries, which investment
may include the repair, restoration or replacement of the applicable assets thereof; provided further, pending any such investment all
such Net Escrow and Indemnity Proceeds, shall be held at all times prior to such reinvestment, in an escrow account in form and substance
reasonably acceptable to Administrative Agent. In the event that such Net Escrow and Indemnity Proceeds are not reinvested by Borrower
prior to the earlier of (x) the last day of such 180 day period (or, if committed to be so reinvested, within 365 days after actual
receipt thereof) and (y) the date of the occurrence of a Default or an Event of Default, Administrative Agent shall apply such Net
Escrow and Indemnity Proceeds to the Obligations as set forth in Section 2.15(b).

 

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(j)          Net
Extraordinary Receipt Proceeds. No later than the tenth Business Day following the date of actual receipt by Holdings or any of its
Subsidiaries of any Net Extraordinary Receipt Proceeds in excess of $500,000 received by or paid to or for the account of Holdings or
any of its Subsidiaries that is not otherwise required to be applied as a mandatory prepayment in any of the foregoing clauses (a) through
(i) of this Section 2.14, Borrower shall prepay the Loans and/or the applicable Commitments shall be reduced as set forth
in Section 2.15(b) in an aggregate principal amount equal to 100% of all Cash proceeds actually received therefrom.

 

(k)          Prepayment
Certificate. At least three Business Days prior to any prepayment under this Section 2.14, Borrower shall deliver written notice
to Administrative Agent providing the proposed date of the prepayment, a reasonably detailed calculation of the prepayment and the sub-clause
of this Section 2.14 pursuant to which the payment is being made. Concurrently with any prepayment of the Loans and/or reduction
of the applicable Commitments pursuant to Sections 2.14(a) through 2.14(j), Borrower shall deliver to Administrative Agent a certificate
of an Authorized Officer demonstrating the calculation of the amount of the applicable net proceeds, Consolidated Excess Cash Flow, excess
amount prepayment or tax refund, and premium owing to Lenders under the Fee Letter, if any, as the case may be. In the event that Borrower
shall subsequently determine that the actual amount received by Holdings and its Subsidiaries exceeded the amount set forth in such certificate
delivered by Borrower, Borrower shall promptly make an additional prepayment of the Loans and/or the applicable Commitments shall be permanently
reduced in an amount equal to such excess, and Borrower shall concurrently therewith deliver to Administrative Agent a certificate of
an Authorized Officer demonstrating the derivation of such excess.

 

(l)          Notwithstanding
the foregoing, to the extent that any or all of the Net Asset Sale Proceeds, Consolidated Excess Cash Flow, Net Insurance/Condemnation
Proceeds or net Cash tax refunds referred to in Sections 2.14(a) through 2.14(j) either (x) would be prohibited
by applicable law from being repatriated to Borrower or (y) is attributable to a Foreign Subsidiary and would result in material
adverse tax consequences to any Credit Party (or such Credit Party’s direct or indirect equityholders) if repatriated to Borrower
or any of its Domestic Subsidiaries (as reasonably determined by Borrower in good faith in consultation with Administrative Agent), then
in either case (but in the case of clause (y), for so long, but only for so long, as the applicable material adverse tax consequences
remain (as reasonably determined by Borrower in good faith in consultation with Administrative Agent)), the prepayments that would otherwise
be required pursuant to this Section 2.14 shall be reduced to such extent and the applicable Foreign Subsidiary shall be permitted
to retain such Net Asset Sale Proceeds, Net Insurance/Condemnation Proceeds or Cash tax refunds; provided, in the case of clause
(y), that (1) each Credit Party shall (and shall cause each of its respective Subsidiaries to) use commercially reasonable efforts
to permit the repatriation of the relevant amounts without incurring adverse tax consequences to a Credit Party (or a Credit Party’s
direct or indirect equityholders), (2) to the extent that Borrower reasonably determines in good faith (following consultation with
Administrative Agent) that such material adverse tax consequences cease to exist or apply, Borrower shall make such prepayment in the
amount that would otherwise be required pursuant to this Section 2.14, and (3) no Credit Party shall include or permit
to exist any provision in their respective Organizational Documents or other contracts to which they are a party that would prevent any
such repatriation or upstreaming of such proceeds or Consolidated Excess Cash Flow.

 

2.15          Application
of Prepayments/Reductions.

 

(a)          Application
of Voluntary Prepayments of Revolving Loans. Any prepayment of any Revolving Loan pursuant to Section 2.13 shall be applied
to repay outstanding Revolving Loans to the full extent thereof.

 

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(b)          Application
of Prepayments by Type of Loans. Any voluntary prepayments of Term Loans pursuant to Section 2.13 and any mandatory prepayment
of any Loan pursuant to Section 2.14 shall be applied as follows:

 

first,
to the payment of all fees, and all expenses specified in Section 10.2, to the full extent thereof;

 

second, to the
payment of any accrued interest at the Default Rate, if any;

 

third, to the
payment of any accrued interest (other than Default Rate interest);

 

fourth,
to the payment of, as applicable, the Yield Maintenance Premium or Prepayment Premium, if any, on any Loan;

 

fifth, to prepay
the Revolving Loans to the full extent thereof;

 

sixth,
except in connection with any Waivable Mandatory Prepayment in Section 2.15(c), to prepay Term Loans on a pro rata basis (in
accordance with the respective outstanding principal amounts thereof) and shall be further applied in inverse order of maturity to reduce
the remaining scheduled Installments of principal of the Term Loans;

 

seventh,
to further permanently reduce the Revolving Commitments to the full extent thereof; and

 

eighth,
to further permanently reduce the unused Term Loan Commitments to the full extent thereof;

 

ninth, to the
payment in full of all other Obligations; and

 

tenth,
upon satisfaction in full of all Obligations, to Borrower (or to any Person which Borrower shall have designated to Administrative Agent
in writing) or as otherwise required by law.

 

Subject to items “first”
through “tenth” preceding, Administrative Agent shall have the continuing and exclusive right to apply and reverse
and reapply any and all such proceeds and payments to any portion of the Obligations.

 

(c)          Waivable
Mandatory Prepayment. Anything contained herein to the contrary notwithstanding, in the event Borrower is required to make any
mandatory prepayment (a “Waivable Mandatory Prepayment”) of the Term Loans, by no later than 12:00 p.m. (New
York City time) on the second Business Day (unless any such mandatory prepayment is required earlier, in which case, on the First
Business Day) prior to the date on which Borrower is required to make such Waivable Mandatory Prepayment (the “Required
Prepayment Date”), Borrower shall notify Administrative Agent of the principal amount of such prepayment, and
Administrative Agent will promptly thereafter notify each Lender holding an outstanding Term Loan of the amount of such
Lender’s Pro Rata Share of such Waivable Mandatory Prepayment and such Lender’s option to refuse such amount. Each such
Lender may exercise such option by giving written notice to Borrower and Administrative Agent of its election to do so on or before
5:00 p.m. (New York City time) the first Business Day prior to the Required Prepayment Date (it being understood that any
Lender which does not notify Borrower and Administrative Agent of its election to exercise such option on or before 5:00
p.m. (New York City time) the first Business Day prior to the Required Prepayment Date shall be deemed to have elected not to
exercise such option). On the Required Prepayment Date, Borrower shall pay to Administrative Agent an amount (the “Required
Mandatory Prepayment Amount”) equal to (x) the amount of the Waivable Mandatory
Prepayment less (y) an amount (the “Declined Amount”) equal to that portion of the Waivable Mandatory Prepayment
that would otherwise be payable to those Lenders that have elected to exercise such option. The Required Mandatory Prepayment Amount
shall be applied to prepay the Term Loans of those Lenders that have elected (or have been deemed to have elected) not to exercise
such option (which prepayment shall be applied to the scheduled Installments of principal of the Term Loans in accordance with
Section 2.15(b)). Borrower shall retain the Declined Amount for working capital and general corporate purposes.

 

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(d)          Application
of Prepayments of Loans to Base Rate Loans and LIBOR Rate Loans. Considering each Class of Loans being prepaid separately, any
prepayment of the Loans shall be applied first to Base Rate Loans to the full extent thereof before application to LIBOR Rate Loans, in
each case in a manner which minimizes the amount of any payments required to be made by Borrower pursuant to Section 2.18(c).

 

2.16          General
Provisions Regarding Payments.

 

(a)          All
payments by Borrower of principal, interest, fees and other Obligations shall be made in Dollars in immediately available funds, without
defense, recoupment, setoff or counterclaim, free of any restriction or condition, and delivered to Administrative Agent, for the account
of Lenders, not later than 12:00 p.m. (New York City time) on the date due via wire transfer of immediately available funds to an
account designated in writing from time to time by Administrative Agent to Borrower for such purpose; funds received by Administrative
Agent after that time on such due date may (in Administrative Agent’s sole discretion) be deemed to have been paid by Borrower on
the next Business Day.

 

(b)          All
payments in respect of the principal amount of any Loan (other than voluntary prepayments of Revolving Loans) shall be accompanied by
payment of accrued interest on the principal amount being repaid or prepaid.

 

(c)          Administrative
Agent shall promptly distribute to each Lender at such address or account as such Lender shall indicate in writing, such Lender’s
applicable Pro Rata Share of all payments and prepayments of principal and interest due hereunder, together with all other amounts due
with respect thereto, including all fees payable with respect thereto, to the extent received by Administrative Agent.

 

(d)          Notwithstanding
the foregoing provisions hereof, if any Conversion/Continuation Notice is withdrawn as to any Affected Lender or if any Affected Lender
makes Base Rate Loans in lieu of its Pro Rata Share of any LIBOR Rate Loans, Administrative Agent shall give effect thereto in apportioning
payments received thereafter.

 

(e)          Subject
to the provisos set forth in the definition of “Interest Period,” whenever any payment to be made hereunder shall be stated
to be due on a day that is not a Business Day, such payment shall be made on the next succeeding Business Day and such extension of time
shall be included in the computation of the payment of interest hereunder or of the commitment fees hereunder.

 

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

 

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(g)          Administrative
Agent may (in Administrative Agent’s sole discretion) deem any payment by or on behalf of Borrower hereunder that is not made in
same day funds at or prior to 12:00 p.m. (New York City time) to be a non-conforming payment. Any such payment shall not be deemed
to have been received by Administrative Agent until the later of (i) the time such funds become available funds, and (ii) the
applicable next Business Day. Administrative Agent shall give prompt written notice to Borrower and each applicable Lender (which may
be by electronic mail) if any payment is non-conforming. Any non-conforming payment may constitute or become a Default or Event of Default
in accordance with the terms of Section 8.1(a). Interest shall continue to accrue on any principal as to which a non-conforming
payment is made until such funds become available funds at the Default Rate determined pursuant to Section 2.10 from the date
such amount was due and payable until the date such amount is paid in full in Cash, and from and after the date such non-conforming payment
constitutes an Event of Default such Interest shall accrue at the Default Rate determined pursuant to Section 2.7.

 

(h)          If
an Event of Default shall have occurred and not otherwise been waived, and the Obligations have become due and payable in full hereunder,
whether by acceleration, maturity or otherwise, all payments or proceeds received by any Agent hereunder or under any Collateral Document
in respect of any of the Obligations (including, but not limited to, Obligations arising under any Interest Rate Agreement or Currency
Agreement that are owing to any Lender or Lender Counterparty), including, but not limited to all proceeds received by any Agent in respect
of any sale, any collection from, or other realization upon all or any part of the Collateral, shall be applied in full or in part as
follows: first, to the payment of all costs and expenses of such sale, collection or other realization, including reasonable compensation
to each Agent and its agents and counsel, and all other expenses, liabilities and advances made or incurred by any Agent in connection
therewith, and all amounts for which any Agent is entitled to indemnification hereunder or under any Collateral Document (in its capacity
as an Agent and not as a Lender) and all advances made by any Agent under any Collateral Document for the account of the applicable Grantor,
and to the payment of all reasonable and documented out-of-pocket costs and expenses paid or incurred by any Agent in connection with
the exercise of any right or remedy hereunder or under any Collateral Document, all in accordance with the terms hereof or thereof; second,
to the extent of any excess of such proceeds, to the payment of all other Obligations for the ratable benefit of the Lenders and the Lender
Counterparties; and third, to the extent of any excess of such proceeds, to the payment to or upon the order of such Grantor (or
to such other Person as such Grantor shall have specified in a written notice to the Administration Agent) or to whosoever may be lawfully
entitled to receive the same or as a court of competent jurisdiction may direct.

 

2.17          Ratable
Sharing. Lenders hereby agree among themselves that, except as otherwise provided in the Fee Letter or in the Collateral
Documents with respect to amounts realized from the exercise of rights with respect to Liens on the Collateral, if any Lender shall,
whether by voluntary payment (other than a voluntary prepayment of Loans made and applied in accordance with the terms hereof),
through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any
right under the Credit Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the
Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest and other amounts then
due and owing to such Lender hereunder or under the other Credit Documents (collectively, the “Aggregate Amounts
Due” to such Lender) which is greater than the proportion received by any other Lender in respect of the Aggregate Amounts
Due to such other Lender, then the Lender receiving such proportionately greater payment shall (a) notify Administrative Agent
and each other Lender of the receipt of such payment and (b) apply a portion of such payment to purchase participations (which
it shall be deemed to have purchased from each seller of a participation simultaneously upon the receipt by such seller of its
portion of such payment) in the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due
shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided, if all or part of such
proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or
reorganization of Borrower or otherwise, those purchases shall be rescinded and the purchase prices paid for such participations
shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest. Borrower expressly
consents to the foregoing arrangement and agrees that any holder of a participation so purchased may exercise any and all rights of
banker’s lien, set-off or counterclaim with respect to any and all monies owing by Borrower to that holder with respect
thereto as fully as if that holder were owed the amount of the participation held by that holder.

 

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2.18        Making
or Maintaining LIBOR Rate Loans.

 

(a)          Inability
to Determine Applicable Interest Rate. In the event that Administrative Agent shall have determined (which determination shall be
final and conclusive and binding upon all parties hereto absent manifest error), on any Interest Rate Determination Date with respect
to any LIBOR Rate Loans, that by reason of circumstances affecting the London interbank market adequate and fair means do not exist for
ascertaining the interest rate applicable to such LIBOR Rate Loans on the basis provided for in the definition of Adjusted LIBOR Rate,
Administrative Agent shall on such date give notice (by telefacsimile or by electronic mail) to Borrower and each Lender of such determination,
whereupon (i) no Loans may be made as, or converted to, or continued as, LIBOR Rate Loans until such time as Administrative Agent
notifies Borrower and Lenders that the circumstances giving rise to such notice no longer exist, and each of such outstanding LIBOR Loans
shall be continued as, or converted to, a Base Rate Loan (in the case of any conversion to a Base Rate Loan, on the last day of the Interest
Period applicable thereto), and (ii) any Funding Notice or Conversion/Continuation Notice given by Borrower with respect to the Loans
in respect of which such determination was made shall automatically be deemed to be rescinded by Borrower.

 

(b)          Illegality
or Impracticability of LIBOR Rate Loans. In the event that on any date any Lender shall have determined (which determination
shall be final and conclusive and binding upon all parties hereto but shall be made only after consultation with Borrower and
Administrative Agent) that the making, maintaining or continuation of its LIBOR Rate Loans (i) has become unlawful as a result
of compliance by such Lender in good faith with any law, treaty, governmental rule, regulation, guideline or order (or would
conflict with any such treaty, governmental rule, regulation, guideline or order not having the force of law even though the failure
to comply therewith would not be unlawful), or (ii) has become impracticable, as a result of contingencies occurring after the
date hereof which materially and adversely affect the London interbank market or the position of such Lender in that market, then,
and in any such event, such Lender shall be an “Affected Lender” and it shall on that day give notice (by
telefacsimile or electronic mail) to Borrower and Administrative Agent of such determination (which notice Administrative Agent
shall promptly transmit to each other Lender). Thereafter (1) the obligation of the Affected Lender to make Loans as, or to
convert Loans to, LIBOR Rate Loans shall be suspended until such notice shall be withdrawn by the Affected Lender, (2) to the
extent such determination by the Affected Lender relates to a LIBOR Rate Loan then being requested by Borrower pursuant to a Funding
Notice or a Conversion/Continuation Notice, the Affected Lender shall make such Loan as (or continue such Loan as or convert such
Loan to, as the case may be) a Base Rate Loan, (3) the Affected Lender’s obligation to maintain its outstanding LIBOR
Rate Loans (the “Affected Loans”) shall be terminated at the earlier to occur of the expiration of the Interest
Period then in effect with respect to the Affected Loans or when required by law, and (4) the Affected Loans shall
automatically convert into Base Rate Loans on the date of such termination. Notwithstanding the foregoing, to the extent a
determination by an Affected Lender as described above relates to a LIBOR Rate Loan then being requested by Borrower pursuant to a
Funding Notice or a Conversion/Continuation Notice, Borrower shall have the option, subject to the provisions of Section 2.18(c),
to rescind such Funding Notice or Conversion/Continuation Notice as to all Lenders by giving notice (in writing or by electronic
mail) to Administrative Agent of such rescission on the date on which the Affected Lender gives notice of its determination as
described above (which notice of rescission Administrative Agent shall promptly transmit to each other Lender). Except as provided
in the immediately preceding sentence, nothing in this Section 2.18(b) shall affect the obligation of any Lender
other than an Affected Lender to make or maintain Loans as, or to convert Loans to, LIBOR Rate Loans in accordance with the terms
hereof.

 

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(c)          Compensation
for Breakage or Non-Commencement of Interest Periods. Borrower shall compensate each Lender, upon written request by such Lender (which
request shall set forth the basis for requesting such amounts), for all reasonable losses, expenses and liabilities (including any interest
paid or calculated to be due and payable by such Lender to lenders of funds borrowed by it to make or carry its LIBOR Rate Loans and any
loss, expense or liability sustained by such Lender in connection with the liquidation or re-employment of such funds and including loss
of anticipated profits) which such Lender may actually sustain: (i) if for any reason (other than a default by such Lender) a borrowing
of any LIBOR Rate Loan does not occur on a date specified therefor in a Funding Notice, or a conversion to or continuation of any LIBOR
Rate Loan does not occur on a date specified therefor in a Conversion/Continuation Notice; (ii) if any prepayment or other principal
payment of, or any conversion of, any of its LIBOR Rate Loans occurs on any day other than the last day of an Interest Period applicable
to that Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise); or (iii) if any prepayment of any
of its LIBOR Rate Loans is not made on any date specified in a notice of prepayment given by Borrower.

 

(d)          Booking
of LIBOR Rate Loans. Any Lender may make, carry or transfer LIBOR Rate Loans at, to, or for the account of any of its branch offices
or the office of an Affiliate of such Lender.

 

(e)          Assumptions
Concerning Funding of LIBOR Rate Loans. Calculation of all amounts payable to a Lender under this Section 2.18 and under
Section 2.19 shall be made as though such Lender had actually funded each of its relevant LIBOR Rate Loans through the purchase
of a LIBOR deposit bearing interest at the rate obtained pursuant to clause (a) of the definition of Adjusted LIBOR Rate in
an amount equal to the amount of such LIBOR Rate Loan and having a maturity comparable to the relevant Interest Period and through the
transfer of such LIBOR deposit from an offshore office of such Lender to a domestic office of such Lender in the United States of America;
provided, however, each Lender may fund each of its LIBOR Rate Loans in any manner it sees fit and the foregoing assumptions
shall be utilized only for the purposes of calculating amounts payable under this Section 2.18 and under Section 2.19.

 

2.19         Increased
Costs; Capital Requirements.

 

		(a)	Compensation For Increased Costs. If any Change in Law shall:

 

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

 

(ii)          subject
any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (d) of
the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or
other obligations, or its deposits, reserves, other liabilities or capital attributable thereto; or

 

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(iii)          impose
on any Lender 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 participation therein;

 

and the result of any of the
foregoing shall be to increase the cost to such Lender or such other Recipient of making, converting to, continuing or maintaining any
Loan or of maintaining its obligation to make any such Loan, or to increase the cost of such Lender, or to reduce the amount of any sum
received or receivable by such Lender or other Recipient hereunder (whether of principal, interest or any other amount) then, upon request
of such Lender or such other Recipient, Borrower will pay to such Lender or other Recipient, as the case may be, such additional amount
or amounts as will compensate such Lender or other Recipient, as the case may be, for such additional costs incurred or reduction suffered.

 

		(b)	Capital Requirements; Certificates for Reimbursement; Delay in Requests.

 

(i)          Capital
Requirements. If any Lender determines that any Change in Law affecting such Lender or any lending office of such Lender or such Lender’s
holding company, if any, regarding capital or liquidity requirements, has or would have the effect of reducing the rate of return on such
Lender’s capital or on the capital of such Lender’s holding company, if any, as a consequence of this Agreement, the Commitments
of such Lender or the Loans made by such Lender to a level below that which such Lender or such Lender’s holding company could have
achieved but for such Change in Law (taking into consideration such Lender’s policies and the policies of such Lender’s holding
company with respect to capital adequacy), then from time to time Borrower will pay to such Lender such additional amount or amounts as
will compensate such Lender or such Lender’s holding company for any such reduction suffered.

 

(ii)          Certificates
for Reimbursement. A certificate of a Lender setting forth the amount or amounts necessary to compensate such Lender or its holding
company, as the case may be, as specified in Section 2.19(a) or 2.19(b) and delivered to Borrower, shall
be conclusive absent manifest error. Borrower shall pay such Lender the amount shown as due on any such certificate within 10 days after
receipt thereof.

 

(iii)          Delay
in Requests. Failure or delay on the part of any Lender to demand compensation pursuant to Section 2.19(a) or 2.19(b) shall
not constitute a waiver of such Lender’s right to demand such compensation; provided that Borrower shall not be required
to compensate a Lender pursuant to this Section 2.19 for any increased costs incurred or reductions suffered more than 9 months
prior to the date that such Lender notifies Borrower of the Change in Law giving rise to such increased costs or reductions, and of such
Lender’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 9-month period referred to above shall be extended to include the period of retroactive effect thereof).

 

2.20        Taxes;
Withholding, etc.

 

(a)          Defined
Terms. For purposes of this Section 2.20, the term “applicable law” includes FATCA.

 

(b)          Payments
Free of Taxes. Any and all payments by or on account of any obligation of any Credit Party under any Credit 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 Credit 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 2.20) the applicable Recipient receives an amount equal to the sum it would have received had no such
deduction or withholding been made.

 

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(c)          Payment
of Other Taxes by Borrower. The Credit Parties shall timely pay to the relevant Governmental Authority in accordance with applicable
law, or at the option of Administrative Agent timely reimburse it for the payment of, any Other Taxes.

 

(d)          Indemnification
by Borrower. The Credit Parties shall 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) payable or paid by such Recipient or required to be withheld or deducted from a payment to such Recipient and any reasonable
and documented out-of-pocket 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 Borrower by a Lender (with a copy to Administrative Agent), or by Administrative Agent on its own behalf or on behalf of a Lender,
shall be conclusive absent manifest error.

 

(e)          Indemnification
by the Lenders. Each Lender shall severally indemnify Administrative Agent, within 10 days after demand therefor, for (i) any
Indemnified Taxes attributable to such Lender (but only to the extent that a Credit Party has not already indemnified Administrative Agent
for such Indemnified Taxes and without limiting the obligation of the Credit Parties to do so), (ii) any Taxes attributable to such
Lender’s failure to comply with the provisions of Section 10.6 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 Administrative Agent in connection
with any Credit 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 Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes Administrative Agent to
set off and apply any and all amounts at any time owing to such Lender under any Credit Document or otherwise payable by Administrative
Agent to the Lender from any other source against any amount due to Administrative Agent under this Section 2.20(e).

 

(f)          Evidence
of Payments. As soon as practicable after any payment of Taxes by any Credit Party to a Governmental Authority pursuant to this Section 2.20,
such Credit Party shall deliver to 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 Administrative
Agent.

 

		(g)	Status of Lenders.

 

(i)          Any
Lender that is entitled to an exemption from or reduction of United States withholding Tax with respect to payments made under any
Credit Document shall deliver to Borrower and Administrative Agent, at the time or times reasonably requested by Borrower or
Administrative Agent, such properly completed and executed documentation reasonably requested by Borrower or 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 Borrower or Administrative Agent, shall deliver such other documentation prescribed by applicable law or reasonably
requested by Borrower or Administrative Agent as will enable Borrower or 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 Section 2.20(g)(ii)(A), (ii)(B) and (ii)(D) below)
shall not be required if in the Lender’s reasonable judgment such completion, execution or submission would subject such
Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such
Lender.

 

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 (ii)          Without limiting the generality of the foregoing,

 

(A)          any
Lender that is a U.S. Person shall deliver to Borrower and 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 Borrower or 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 Borrower and 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 Borrower or 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 Credit Document, executed originals of IRS Form W-8BEN or IRS Form W-8BEN-E 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 Credit Document, IRS Form W-8BEN or IRS Form W-8BEN-E 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 Internal
Revenue Code, (x) a certificate substantially in the form of Exhibit G-1 to the effect that such Foreign Lender is not
a “bank” within the meaning of Section 881(c)(3)(A) of the Internal Revenue Code, a “10 percent shareholder”
of Borrower within the meaning of Section 881(c)(3)(B) of the Internal Revenue Code, or a “controlled foreign corporation”
described in Section 881(c)(3)(C) of the Internal Revenue Code (a “U.S. Tax Compliance Certificate”) and
(y) executed originals of IRS Form W-8BEN or IRS Form W-8BEN-E; 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 or IRS Form W-8BEN-E, a U.S. Tax Compliance Certificate substantially in the form
of Exhibit G-2 or G-3, IRS Form W-9, and/or other certification documents from each beneficial owner,
as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such
Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate
substantially in the form of Exhibit G-4 on behalf of each such direct and indirect partner;

 

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(C)          any
Foreign Lender shall, to the extent it is legally entitled to do so, deliver to Borrower and 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 Borrower or 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 Borrower or Administrative Agent to determine the withholding
or deduction required to be made; and

 

(D)          if
a payment made to a Lender under any Credit 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 Internal Revenue Code, as applicable), such Lender shall deliver to Borrower and Administrative Agent at the time
or times prescribed by law and at such time or times reasonably requested by Borrower or Administrative Agent such documentation prescribed
by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Internal Revenue Code) and such additional documentation
reasonably requested by Borrower or Administrative Agent as may be necessary for Borrower and 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 Borrower and 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 2.20 (including by the payment of additional amounts pursuant
to this Section 2.20), it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity
payments made under this Section with respect to the Taxes giving rise to such refund), net of all out-of- pocket expenses (including
Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority with respect
to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the amount
paid over pursuant to this paragraph (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 net after-Tax position than
the indemnified party would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted,
withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This
paragraph shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating
to its Taxes that it deems confidential) to the indemnifying party or any other Person.

 

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(i)          Tax
Treatment. The Credit Parties and their Affiliates shall treat the Loans as debt for U.S. federal, state and local income tax purposes
(and not as “contingent payment debt instruments” within the meaning of Section 1.1275-4 of the U.S. Treasury Regulations)
and none of the Credit Parties or any of their Affiliates shall take a contrary position unless otherwise required pursuant to a final
determination within the meaning of Section 1313 of the Internal Revenue Code. If a Credit Party or any Affiliate is required by
a final determination to take a position inconsistent with the foregoing, then Borrower shall promptly notify the Lenders and, upon request,
consult with any of the Lenders in good faith regarding such position and use commercially reasonable efforts to mitigate any adverse
federal income tax consequences to Lenders that would result from such position.

 

(j)          Survival.
Each party’s obligations under this Section 2.20 shall survive the resignation or replacement of 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 Credit Document.

 

2.21        Defaulting
Lenders

 

(a)          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)          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 Requisite Lenders and as set forth in Section 10.5(b);

 

(ii)          Any
payment of principal, interest, fees or other amounts received by Administrative Agent for the account of such Defaulting Lender
(whether voluntary or mandatory, at maturity, pursuant to Section 8 or otherwise) or received by Administrative Agent
from a Defaulting Lender pursuant to Section 10.4 shall be applied at such time or times as may be determined by
Administrative Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender to Administrative Agent
hereunder; second, as 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
Administrative Agent; third, if so determined by Administrative Agent and Borrower, to be held in a deposit account and
released in order to satisfy such Defaulting Lender’s potential future funding obligations with respect to Loans under this
Agreement; fourth, to the payment of any amounts owing to the Lenders as a result of any judgment of a court of competent
jurisdiction obtained by any Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its
obligations under this Agreement; fifth, so long as no Default or Event of Default exists, to the payment of any amounts
owing to Borrower as a result of any judgment of a court of competent jurisdiction obtained by Borrower against such Defaulting
Lender as a result of such Defaulting Lender's breach of its obligations under this Agreement; and sixth, 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 in respect of which such Defaulting Lender has not fully funded its appropriate share, and
(y) such Loans were made at a time when the conditions set forth in Section 3.2 were satisfied or waived, such
payment shall be applied solely to pay the Loans of all Lenders that are no Defaulting Lenders on a pro rata basis prior to being
applied to the payment of any Loans of such Defaulting Lender until such time as all Loans are held by the Lenders pro rata in
accordance with the Revolving Commitments. 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 shall be deemed paid to and redirected by such Defaulting Lender,
and each Lender irrevocably consents hereto;

 

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(iii)          No Defaulting
Lender shall be entitled to receive any commitment fee described in Sections 2.11(a)(i) and 2.11(c) for any period
during which that Lender is a Defaulting Lender (and Borrower shall not be required to pay any such fee that otherwise would have been
required to have been paid to that Defaulting Lender).

 

(b)          If
Borrower and Administrative Agent agree in writing that a Lender is no longer a Defaulting Lender, Administrative Agent will so notify
the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which
may include arrangements with respect to any Cash Collateral), that Lender will, to the extent applicable, purchase at par that portion
of outstanding Loans of the other Lenders or take such other actions as Administrative Agent may determine to be necessary to cause the
Loans to be held pro rata by the Lenders in accordance with the Revolving Commitments, 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
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.

 

		2.22	[Reserved]

 

		2.23	Mitigation of Obligations; Replacement of Lenders

 

(a)          Designation
of a Different Lending Office. If any Lender requests compensation under Section 2.19(a) or 2.19(b), or requires
Borrower to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender
pursuant to Section 2.20, then such Lender shall (at the request of Borrower) use reasonable efforts to designate a different
lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices,
branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts
payable pursuant to Section 2.19 or 2.20 as the case may be, in the future, and (ii) would not subject such Lender
to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. Borrower hereby agrees to pay all reasonable
and documented out-of- pocket costs and expenses incurred by any Lender in connection with any such designation or assignment.

 

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(b)          Removal
or Replacement of a Lender. Anything contained herein to the contrary notwithstanding, in the event that: (a)(i) any Lender
(an “Increased-Cost Lender”) shall give notice to Borrower that such Lender is an Affected Lender or that such
Lender is entitled to receive payments under Section 2.19 or 2.20, (ii) the circumstances which have caused
such Lender to be an Affected Lender or which entitle such Lender to receive such payments shall remain in effect, (iii) such
Lender shall fail to withdraw such notice within five Business Days after Borrower’s request for such withdrawal and
(iv) such Lender has declined or is unable to designate a different lending office in accordance with Section 2.23(a);
or (b)(i) any Lender shall become a Defaulting Lender, (ii) the Default Period for such Defaulting Lender shall remain in
effect, and (iii) such Defaulting Lender shall fail to cure the default as a result of which it has become a Defaulting Lender
within five Business Days after Borrower’s request that it cure such default; or (c) in connection with any proposed
amendment, modification, termination, waiver or consent with respect to any of the provisions hereof as contemplated by Section 10.5(b),
the consent of Administrative Agent shall have been obtained but the consent of one or more Lenders (each a “Non-
Consenting Lender”) whose consent is required shall not have been obtained; then, with respect to each such Increased-Cost
Lender, Defaulting Lender or Non-Consenting Lender (the “Terminated Lender”), Administrative Agent may (with the
prior written consent of Borrower), by giving written notice to Borrower and any Terminated Lender of its election to do so, elect
to cause such Terminated Lender (and such Terminated Lender hereby irrevocably agrees) to assign its outstanding Loans and its
Commitments, if any, in full to one or more Eligible Assignees (each a “Replacement Lender”) in accordance with
the provisions of Section 10.6 and Terminated Lender shall pay any fees payable thereunder in connection with such
assignment; provided, (1) on the date of such assignment, the Replacement Lender shall pay to Terminated Lender an
amount equal to the sum of (A) an amount equal to the principal of, and all accrued interest on, all outstanding Loans of the
Terminated Lender, (B) [reserved], and (C) an amount equal to all accrued, but theretofore unpaid fees owing to such
Terminated Lender pursuant to Section 2.11; (2) on the date of such assignment, Borrower shall pay any amounts
payable to such Terminated Lender pursuant to Section 2.19 or 2.20; (3) in the event such Terminated Lender
is a Non-Consenting Lender, each Replacement Lender shall consent, at the time of such assignment, to each matter in respect of
which such Terminated Lender was a Non-Consenting Lender; and (4) such assignment does not conflict with applicable law. In the
event that the Terminated Lender fails to execute and deliver an Assignment Agreement pursuant to Section 10.6 within
five Business Days after receipt by the Terminated Lender of notice of replacement pursuant to this Section 2.23 and
presentation to such Terminated Lender of an Assignment Agreement evidencing an assignment pursuant to this Section 2.23,
the Terminated Lender shall be deemed to have executed and delivered such Assignment Agreement, and upon the execution and delivery
of Assignment Agreement by the Replacement Lender and Administrative Agent, such Assignment Agreement shall be effective for
purposes of this Section 2.23 and Section 10.6. Upon the prepayment of all amounts owing to any Terminated
Lender and the termination of such Terminated Lender’s Commitments, if any, such Terminated Lender shall no longer constitute
a “Lender” for purposes hereof; provided, any rights of such Terminated Lender to indemnification hereunder shall
survive as to such Terminated Lender.

 

SECTION 3. CONDITIONS PRECEDENT

 

3.1          Closing
Date. The obligation of each Lender to make a Credit Extension on the Closing Date is subject to the satisfaction, or waiver in accordance
with Section 10.5, of the following conditions on or before the date of this Agreement:

 

(a)          Credit
Documents. Administrative Agent shall have received sufficient copies of each Credit Document originally executed and delivered by
each applicable party thereto for each Lender.

 

(b)          Closing
Date Acquisition Documents. Administrative Agent shall have received copies of the Closing Date Acquisition Agreement and all exhibits,
schedules, annexes, addenda and other attachments thereto, and all material agreements, instruments and other documents delivered in connection
therewith (collectively, the “Closing Date Acquisition Documents”), in each case duly executed by the parties thereto,
together with a certification by an Authorized Officer of Holdings that such documents are in full force and effect on the Closing Date.

 

(c)          Consummation
of Closing Date Acquisition. All conditions precedent to the Closing Date Acquisition under the Closing Date Acquisition Agreement
shall have been met (or waived, in accordance with the terms of the Closing Date Acquisition Agreement as in effect on the date hereof)
and the Closing Date Acquisition shall have been consummated (or will be consummated substantially simultaneously with the funding of
the Loans on the Closing Date) in accordance with all applicable requirements of law and the terms of the Closing Date Acquisition Agreement
as in effect on the date hereof.

 

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(d)          Capitalization
of Holdings and Borrower. The Sponsor shall have directly or indirectly contributed to Holdings an aggregate amount of Cash
equity of at least $31,800,000 ($16,800,000 of which constitutes the Earnout Escrow Amount, which will be funded into the Earnout
Escrow Account) to be used solely for the cash consideration payable under the Closing Date Acquisition Agreement by Borrower
(which, to the extent in respect of any equity of Holdings, shall be on terms reasonably acceptable to Administrative Agent), which
represents not less than 22% of the total pro forma Indebtedness of Holdings and its Subsidiaries and equity contributed to Holdings
and its Subsidiaries, and all cash equity so contributed to Holdings shall in turn be contributed to Borrower (collectively, the
 “Equity Contribution”).

 

(e)          Organizational
Documents; Incumbency. Administrative Agent shall have received (i) a copy of each Organizational Document certified by each
Credit Party and, to the extent applicable, certified as of a recent date by the appropriate Governmental Authority, each dated the Closing
Date or a recent date prior thereto; (ii) signature and incumbency certificates of the officers of each Credit Party executing the
Credit Documents to which it is a party; (iii) resolutions of the Board of Directors or similar governing body of each Credit Party
approving and authorizing the execution, delivery and performance of this Agreement and the other Credit Documents, the Closing Date Acquisition
Documents and the Related Agreements to which it is a party or by which it or its assets may be bound as of the Closing Date, certified
on the Closing Date by its secretary or an assistant secretary as being in full force and effect without modification or amendment; and
(iv) a good standing certificate from the applicable Governmental Authority of each Credit Party’s jurisdiction of incorporation,
organization or formation and in each jurisdiction in which it is qualified as a foreign corporation or other entity to do business, each
dated a recent date prior to the Closing Date.

 

(f)          Organizational
and Capital Structure. The organizational structure and capital structure of Holdings and its Subsidiaries, both immediately before
and immediately after giving effect to the Closing Date Acquisition, shall be as set forth on Schedule 3.1(f).

 

(g)          Existing
Indebtedness. Holdings and its Subsidiaries shall have (i) repaid in full all Existing Indebtedness, (ii) terminated any
commitments to lend or make other extensions of credit thereunder, (iii) delivered to Administrative Agent all documents or instruments
necessary to release all Liens securing Existing Indebtedness, and (iv) made arrangements satisfactory to Administrative Agent with
respect to the cancellation of any letters of credit outstanding thereunder.

 

(h)          Transaction
Costs. Borrower shall have delivered to Administrative Agent Borrower’s reasonable best estimate of the Transactions Costs (other
than fees payable to any Agent).

 

(i)          [reserved].

 

(j)          Personal
Property Collateral. In order to create in favor of Collateral Agent, for the benefit of Secured Parties, a valid, perfected First
Priority security interest in the personal property Collateral, Collateral Agent shall have received:

 

(i)          evidence
satisfactory to Collateral Agent of the compliance by each Credit Party of their obligations under the Pledge and Security Agreement,
the Intellectual Property Security Agreements (if any) and the other Collateral Documents (other than the Collateral Assignment of BI
Insurance) executed and delivered on the Closing Date (including, without limitation, their obligations to authorize or execute, as the
case may be, and deliver UCC financing statements, originals of securities, instruments and chattel paper and any agreements governing
deposit and/or securities accounts as provided therein);

 

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(ii)          a
completed Perfection Certificate, dated the Closing Date and executed by an Authorized Officer of each Credit Party, together with
all attachments contemplated thereby, including (A) the results of a recent search, by a Person satisfactory to Collateral
Agent, of all effective UCC financing statements (or equivalent filings) made with respect to any personal property of any Credit
Party in the jurisdictions specified in the Perfection Certificate, together with copies of all such filings disclosed by such
search, and (B) UCC termination statements (or similar documents) for filing in all applicable jurisdictions as may be
necessary to terminate any effective UCC financing statements (or equivalent filings) disclosed in such search (other than any such
financing statements in respect of Permitted Liens);

 

(iii)          [reserved];

 

(iv)          evidence
satisfactory to Collateral Agent of the termination and release of all Liens (other than Permitted Liens) or that arrangements for such
terminations and release have been made; and

 

(v)          evidence
that each Credit Party shall have taken or caused to be taken any other action, executed and delivered or caused to be executed and delivered
any other agreement, document and instrument (including without limitation, any intercompany notes evidencing Indebtedness permitted to
be incurred pursuant to Section 6.1(b)) and made or caused to be made any other filing and recording (other than as set forth
herein) reasonably required by Collateral Agent.

 

(k)          Financial
Statements; Projections. Lenders shall have received from Holdings (i) the Historical Financial Statements, (ii) pro forma
consolidated and consolidating balance sheets of Holdings and its Subsidiaries as at the Closing Date, and reflecting the consummation
of the Closing Date Acquisition, the related financings and the other transactions contemplated by the Credit Documents to occur on or
prior to the Closing Date, which pro forma financial statements shall be in form and substance satisfactory to Administrative Agent, (iii) pro
forma consolidated and consolidating income statements of Holdings and its Subsidiaries as at the Closing Date, and reflecting the consummation
of the Closing Date Acquisition, the related financings and the other transactions contemplated by the Credit Documents to occur on or
prior to the Closing Date, and (iv) the Projections.

 

(l)          Evidence
of Insurance. Collateral Agent shall have received a certificate from Credit Parties’ insurance broker or other evidence satisfactory
to it that all insurance required to be maintained pursuant to Section 5.5 is in full force and effect, together with endorsements
naming Collateral Agent, for the benefit of Secured Parties, as additional insured and lender’s loss payee thereunder to the extent
required under Section 5.5.

 

(m)          Opinions
of Counsel to Credit Parties. Lenders and their respective counsel shall have received originally executed copies of the favorable
written opinions of Shearman and Sterling LLP, counsel for Credit Parties, Miles & Stockbridge P.C., local Maryland counsel for
the Credit Parties, and Morris, Nichols, Arsht & Tunnell LLP, local Delaware counsel for the Credit Parties, as to such matters
as Administrative Agent may reasonably request, dated as of the Closing Date and otherwise in form and substance reasonably satisfactory
to Administrative Agent (and each Credit Party hereby instructs such counsel to deliver such opinions to Agents and Lenders).

 

(n)          Fees.
Borrower shall have paid to Administrative Agent (i) the fees payable on the Closing Date referred to in Section 2.11
and the Fee Letter and (ii) all other reasonable and documented out-of-pocket fees and expenses payable on the Closing Date pursuant
to the terms hereof, including all fees and expenses of Jones Day, counsel to Administrative Agent.

 

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(o)          Solvency
Certificate. On the Closing Date, Administrative Agent shall have received a Solvency Certificate from the chief financial officer
or equivalent officer of Holdings, dated the Closing Date and addressed to Administrative Agent and Lenders, and in form, scope and substance
reasonably satisfactory to Administrative Agent, certifying that after giving effect to the consummation of Closing Date Acquisition,
Holdings and its Subsidiaries are and, immediately after giving effect to the consummation of the Closing Date Acquisition, will be Solvent,
in each case, on a consolidated basis.

 

(p)          Funding
Notice. Administrative Agent shall have received a fully executed Funding Notice and accompanying flow of funds memorandum for the
Loans to be made on the Closing Date.

 

(q)          Closing
Date Certificate. Holdings and Borrower shall have delivered to Administrative Agent an executed Closing Date Certificate, together
with all attachments thereto.

 

(r)          No
Litigation. There shall not exist any action, suit, investigation, litigation or proceeding or other legal or regulatory developments,
pending or threatened in any court or before any arbitrator or Governmental Authority that, in the reasonable discretion of Administrative
Agent, singly or in the aggregate, materially impairs the Closing Date Acquisition, the financing thereof or any of the other transactions
contemplated by the Credit Documents or the Related Agreements, or that could have a Material Adverse Effect.

 

(s)          Due
Diligence. Agents shall have completed their business, legal, market and collateral due diligence, including (i) review of Material
Contracts, (ii) UCC, tax Lien, litigation and Intellectual Property searches, (iii) review of Holdings’ and its Subsidiaries’
books and records, (iv) review of a third party accounting due diligence report and quality of earning related to the Closing Date
Acquisition, and (v) background checks of management of the Credit Parties, in each case, the results of each of which shall be reasonably
satisfactory to Administrative Agent.

 

(t)          Minimum
Liquidity. Borrower shall demonstrate in form and substance reasonably satisfactory to Administrative Agent that on the Closing Date
and immediately after giving effect to any Credit Extensions to be made on the Closing Date, including the payment of all Transaction
Costs required to be paid in Cash, the sum of Unrestricted Cash-on-Hand and undrawn Revolving Commitments shall equal or exceed $5,500,000.

 

(u)          No
Material Adverse Change. Since December 31, 2020, no event, circumstance or change shall have occurred that has caused or evidences,
either in any case or in the aggregate, a Material Adverse Effect.

 

(v)          U.S.
Patriot Act and Similar Disclosures. The Agents and the Lenders shall have received, at least three Business Days prior to the date
of this Agreement, (i) all documentation and other information, including a duly executed W-9 tax form (or such other applicable
IRS tax form) of Borrower, required by such institution or its bank regulatory authorities under applicable economic sanctions laws, “know
your customer”, Anti-Money Laundering Laws and other terrorism, counter-terrorism and anti- money laundering rules and regulations,
including the Act and the United Stated Executive Order No. 13224 on Terrorist Financing and (ii) if Borrower qualifies as a
 “legal entity customer” under the Beneficial Ownership Regulation, a Beneficial Ownership Certification in relation to Borrower.

 

(w)          Completion
of Proceedings. All partnership, corporate and other proceedings taken or to be taken in connection with the transactions
contemplated hereby and all documents incidental thereto not previously found acceptable by Administrative Agent and its counsel
shall be satisfactory in form and substance to Administrative Agent and such counsel, and Administrative Agent, and such counsel
shall have received all such counterpart originals or certified copies of such documents as Administrative Agent may reasonably
request.

 

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Each Lender, by delivering its signature page to
this Agreement and funding a Loan on the Closing Date, shall be deemed to have acknowledged receipt of, and consented to and approved,
each Credit Document and each other document required to be approved by any Agent, Requisite Lenders or Lenders, as applicable on the
Closing Date.

 

3.2          Conditions
to Each Credit Extension.

 

(a)          Conditions
Precedent. The obligation of each Lender to make any Loan on any Credit Date, including the Closing Date, are subject to the satisfaction,
or waiver in accordance with Section 10.5, of the following conditions precedent:

 

(i)          Administrative
Agent shall have received a Funding Notice duly executed by an Authorized Officer and, solely with respect to the initial Funding Notice,
accompanying flow of funds memorandum, as the case may be;

 

(ii)          after
making the Credit Extensions requested on such Credit Date (x) the Total Utilization of Revolving Commitments shall not exceed the
Revolving Commitments then in effect, and (y) Availability would be $0 or greater;

 

(iii)          as
of such Credit Date, the representations and warranties contained herein and in the other Credit Documents shall be true and correct in
all material respects (other than those representations and warranties that are expressly qualified by a Material Adverse Effect or other
materiality, in which case such representations and warranties shall be true and correct in all respects) on and as of such Credit Date
to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate
to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects (other
than those representations and warranties that are expressly qualified by a Material Adverse Effect or other materiality, in which case
such representations and warranties shall be true and correct in all respects) on and as of such earlier date;

 

(iv)          as
of such Credit Date, no event shall have occurred and be continuing or would result from the consummation of the applicable Credit Extension
that would constitute an Event of Default or a Default; and

 

(v)          as
of such Credit Date, the Total Leverage Ratio determined on a pro forma basis as of such date after giving effect to the contemplated
Credit Extension shall not exceed the maximum Total Leverage Ratio permitted as of the last day of the immediately preceding Fiscal Quarter
pursuant to Section 6.8(b).

 

(b)          [Reserved].

 

SECTION 4.          REPRESENTATIONS
AND WARRANTIES

 

In order to induce Agents
and Lenders to enter into this Agreement and to make each Credit Extension to be made thereby, each Credit Party represents and warrants
to each Agent and Lender, on the Closing Date and on each Credit Date, that:

 

4.1          Organization;
Requisite Power and Authority; Qualification. Each of Holdings and its Subsidiaries (a) is duly organized, validly existing
and in good standing (to the extent such concept is applicable in the relevant jurisdiction) under the laws of its jurisdiction of
organization as identified in Schedule 4.1, (b) has all requisite power and authority to own and operate its properties,
to carry on its business as now conducted and as proposed to be conducted, to enter into the Credit Documents to which it is a party
and to carry out the transactions contemplated thereby, and (c) is qualified to do business and in good standing (to the extent
such concept is applicable in the relevant jurisdiction) in every jurisdiction where its assets are located and wherever necessary
to carry out its business and operations, except in jurisdictions where the failure to be so qualified or in good standing has not
had, and could not be reasonably expected to have, a Material Adverse Effect.

 

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4.2          Capital
Stock and Ownership. The Capital Stock of each of Holdings and its Subsidiaries has been duly authorized and validly issued and is
fully paid and non-assessable. Except as set forth on Schedule 4.2, as of the date hereof, there is no existing option, warrant,
call, right, commitment or other agreement to which Holdings or any of its Subsidiaries is a party requiring, and there is no membership
interest or other Capital Stock of Holdings or any of its Subsidiaries outstanding which upon conversion or exchange would require, the
issuance by Holdings or any of its Subsidiaries of any additional membership interests or other Capital Stock of Holdings or any of its
Subsidiaries or other Securities convertible into, exchangeable for or evidencing the right to subscribe for or purchase, a membership
interest or other Capital Stock of Holdings or any of its Subsidiaries. Schedule 4.2 correctly sets forth the capitalization of
Holdings and the ownership interest of Holdings and each of its Subsidiaries in their respective Subsidiaries as of the Closing Date both
immediately before and immediately after giving effect to the Closing Date Acquisition. Schedule 4.2 also correctly sets for the
officers and the members of the board of directors (or managers, as applicable) of Holdings and each of its Subsidiaries as of the Closing
Date.

 

4.3          Due
Authorization. The execution, delivery and performance of the Credit Documents have been duly approved by the Monitor and all other
necessary corporate or other organizational action on the part of each Credit Party that is a party thereto.

 

4.4          No
Conflict. The execution, delivery and performance by each of the Credit Parties of the Credit Documents to which it is a party and
the consummation of the transactions contemplated by the Credit Documents do not and will not (a) violate (i) any provision
of any law or any governmental rule or regulation applicable to Holdings or any of its Subsidiaries, (ii) any of the Organizational
Documents of Holdings or any of its Subsidiaries, or (iii) any order, judgment or decree of any court or other agency of government
binding on Holdings or any of its Subsidiaries (including, without limitation, the Monitor Order); (b) conflict with, result in a
breach of or constitute (with due notice or lapse of time or both) a default under any Contractual Obligation of Holdings or any of its
Subsidiaries; (c) result in or require the creation or imposition of any Lien upon any of the properties or assets of Holdings or
any of its Subsidiaries (other than any Liens created under any of the Credit Documents in favor of Collateral Agent, on behalf of Secured
Parties); or (d) require any approval of stockholders, members or partners or any approval or consent of any Person under any Contractual
Obligation of Holdings or any of its Subsidiaries, except for such approvals or consents which will be obtained on or before the Closing
Date and disclosed in writing to Administrative Agent, and, in the case of each of clauses (a)(i), (a)(iii) or (b). except for such
violations or conflicts which would not reasonably be expected to result in a Material Adverse Effect.

 

4.5          Consents
and Approvals. The execution, delivery and performance by, or the enforcement against, each of the Credit Parties of the Credit
Documents to which it is a party and the consummation of the transactions contemplated by the Credit Documents do not and will not
require any registration with, consent or approval of, or notice to, or other action to, with or by, any Governmental Authority
except for (i) such as have been obtained or made and are in full force and effect or (ii) filings and recordings with
respect to the Collateral to be made, or otherwise delivered to Collateral Agent for filing and/or recordation. Each Credit Party
has obtained all Governmental Authorizations and all consents of and approvals of other Persons, in each case, that are necessary or
advisable in connection with the transactions contemplated by the Credit Documents, the Closing Date Acquisition Documents and other
Related Agreements. The Credit Parties have obtained the Monitor’s approval to consummate the Closing Date Acquisition. All
applicable waiting periods have expired without any action being taken or threatened by any competent authority which would
restrain, prevent or otherwise impose adverse conditions on the transactions contemplated by the Credit Documents or the financing
thereof and no action, request for stay, petition for review or rehearing, reconsideration, or appeal with respect to any of the
foregoing are pending, and the time for any applicable agency to take action to set aside its consent on its own motion has
expired.

 

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4.6          Binding
Obligation. Each Credit Document has been duly executed and delivered by each Credit Party that is a party thereto and is the legally
valid and binding obligation of such Credit Party, enforceable against such Credit Party in accordance with its respective terms, except
as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or limiting creditors’ rights
generally or by equitable principles relating to enforceability.

 

4.7          Historical
Financial Statements. The Historical Financial Statements were prepared in conformity with GAAP and fairly present, in all material
respects, the financial position, on a consolidated basis, of the Persons described in such financial statements as at the respective
dates thereof and the results of operations and cash flows, on a consolidated basis, of the entities described therein for each of the
periods then ended, subject, in the case of any such unaudited financial statements, to changes resulting from audit and normal year-end
adjustments. As of the Closing Date, neither Holdings nor any of its Subsidiaries has any contingent liability or liability for taxes,
long-term lease or unusual forward or long-term commitment that is not reflected in the Historical Financial Statements or the notes thereto
and which in any such case is material in relation to the business, operations, properties, assets, condition (financial or otherwise)
or prospects of Holdings and any of its Subsidiaries taken as a whole.

 

4.8          Projections.
On and as of the Closing Date, the Projections of Holdings and its Subsidiaries for the period of Fiscal Year 2021 through and including
Fiscal Year 2025, including monthly projections for each month during the Fiscal Year in which the Closing Date takes place (the “Projections”)
are based on good faith estimates and assumptions made by the management of Holdings; provided, the Projections are not to be viewed
as facts and that actual results during the period or periods covered by the Projections may differ from such Projections and that the
differences may be material; provided, further, as of the Closing Date, management of Holdings believed that the Projections
were reasonable and attainable.

 

4.9          No
Material Adverse Change. Since December 30, 2020, no event, circumstance or change has occurred that has caused or evidences,
either in any case or in the aggregate, a Material Adverse Effect.

 

4.10          Adverse
Proceedings, etc.. There are no Adverse Proceedings, individually or in the aggregate, that could reasonably be expected to have
a Material Adverse Effect. Neither Holdings nor any of its Subsidiaries (a) is in violation of any applicable laws (including Environmental
Laws) that, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect, or (b) is subject to
or in default with respect to any final judgments, writs, injunctions, decrees, rules or regulations of any court or any federal,
state, municipal or other governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, that, individually
or in the aggregate, could reasonably be expected to have a Material Adverse Effect.

 

4.11          Payment
of Taxes. Except as otherwise permitted under Section 5.3, all tax returns and reports of Holdings and its
Subsidiaries required to be filed by any of them have been timely filed, and all material Taxes shown on such tax returns to be due
and payable and all assessments, fees and other governmental charges upon Holdings and its Subsidiaries and upon their respective
properties, assets, income, businesses and franchises which are due and payable have been paid when due and payable. Holdings knows
of no proposed material Tax assessment against Holdings or any of its Subsidiaries which is not being actively contested by Holdings
or such Subsidiary in good faith and by appropriate proceedings; provided, such reserves or other appropriate provisions, if
any, as shall be required in conformity with GAAP shall have been made or provided thereof.

 

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4.12        Properties.

 

(a)          Title.
Each of Holdings and its Subsidiaries has (i) good, sufficient and legal title to (in the case of fee interests in real property),
(ii) valid leasehold interests in (in the case of leasehold interests in real or personal property), and (iii) good title to
(in the case of all other personal property), all of their respective properties and assets reflected in their respective Historical Financial
Statements referred to in Section 4.5 and in the most recent financial statements delivered pursuant to Section 5.1,
in each case except for assets disposed of since the date of such financial statements in the ordinary course of business or as otherwise
permitted under Section 6.9. All such properties and assets are free and clear of Liens except for Permitted Liens.

 

(b)          Real
Estate. As of the Closing Date, Schedule 4.12 contains a true, accurate and complete list of (i) all Real Estate Assets,
and (ii) all leases, subleases or assignments of leases (together with all amendments, modifications, supplements, renewals or extensions
of any thereof) affecting each Real Estate Asset of any Credit Party, regardless of whether such Credit Party is the landlord or tenant
(whether directly or as an assignee or successor in interest) under such lease, sublease or assignment. Each agreement listed in clause
(ii) of the immediately preceding sentence is in full force and effect and Holdings does not have knowledge of any default that
has occurred and is continuing thereunder, and each such agreement constitutes the legally valid and binding obligation of each applicable
Credit Party, enforceable against such Credit Party in accordance with its terms, except as enforcement may be limited by bankruptcy,
insolvency, reorganization, moratorium or similar laws relating to or limiting creditors’ rights generally or by equitable principles.

 

(c)          Intellectual
Property. Except as could not reasonably be expected, either individually or in the aggregate, to have a Material Adverse Effect,
(i) each of Holdings and its Subsidiaries owns, or is licensed to use, all trademarks, tradenames, copyrights, patents and other
Intellectual Property material or necessary to its respective business as currently conducted, and (ii) the use thereof by each of
Holdings and its Subsidiaries, to the knowledge of the Credit Parties, does not infringe upon the rights of any other Person. A correct
and complete list of the registered trademarks, registered copyrights and patents owned by Holdings or any of its Subsidiaries, as of
the date of this Agreement, is set forth on Schedule 4.12(c).

 

4.13          Environmental
Matters. Neither Holdings nor any of its Subsidiaries are subject to any outstanding written order, consent decree or settlement agreement
with any Person relating to any violation or alleged violation of Environmental Law, any Environmental Claim or any Release of Hazardous
Materials that, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. Neither Holdings nor
any of its Subsidiaries has received in the past three years any letter or request for information under Section 104 of the Comprehensive
Environmental Response, Compensation, and Liability Act (42 U.S.C. § 9604) or any comparable state law that, individually or in the
aggregate, would reasonably be expected to have a Material Adverse Effect. There are and, to each of Holdings’ and its Subsidiaries’
knowledge, have been, no Hazardous Materials Activities by Holdings or any Subsidiaries at any of their Facilities which would reasonably
be expected to form the basis of an Environmental Claim against Holdings or any of its Subsidiaries that, individually or in the aggregate,
could reasonably be expected to have a Material Adverse Effect.

 

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4.14          No
Defaults. Neither Holdings nor any of its Subsidiaries is in default in the performance, observance or fulfillment of any of the obligations,
covenants or conditions contained in any of its Contractual Obligations, and no condition exists which, with the giving of notice or the
lapse of time or both, could constitute such a default, except where the consequences of such default or defaults, if any, individually
and in the aggregate, could not reasonably be expected to have a Material Adverse Effect.

 

4.15          Material
Contracts. Schedule 4.15 contains a true, correct and complete list of all the Material Contracts in effect on the Closing
Date, and, together with any updates provided pursuant to Section 5.1(m), (a) all such Material Contracts are in full
force and effect, (b) no defaults currently exist thereunder with respect to Holdings or its Subsidiaries and neither Holdings nor
its Subsidiaries has knowledge of any default currently existing thereunder with respect to any counterparty to such Material Contracts,
except where the consequences of such default or defaults, if any, individually and in the aggregate, could not reasonably be expected
to have a Material Adverse Effect, and (c) each such Material Contract has not been amended, waived, or otherwise modified except
as permitted under this Agreement.

 

4.16          Governmental
Regulation. Holdings is not required to be register as an investment company under the Investment Company Act of 1940, as amended.

 

4.17          Margin
Stock. Neither Holdings nor any of its Subsidiaries is engaged principally, or as one of its important activities, in the business
of extending credit for the purpose of purchasing or carrying any Margin Stock. No part of the proceeds of the Loans made to such Credit
Party will be used to purchase or carry any such Margin Stock or to extend credit to others for the purpose of purchasing or carrying
any such Margin Stock or for any purpose that violates, or is inconsistent with, the provisions of Regulation T, U or X of the Board of
Governors of the Federal Reserve System. The Loans will not be secured directly by Margin Stock, and Margin Stock will constitute less
than 25% of the value of the assets subject to any limitation on sale, pledge, or other restriction under this Agreement and the transactions
contemplated hereunder.

 

4.18          Employee
Matters. There is (a) no unfair labor practice complaint pending against Holdings or any of its Subsidiaries, or to the best
knowledge of Holdings and Borrower, threatened against any of them before the National Labor Relations Board (or the equivalent in any
foreign jurisdiction) and no grievance or arbitration proceeding arising out of or under any collective bargaining agreement that is so
pending against Holdings or any of its Subsidiaries or to the best knowledge of Holdings and Borrower, threatened against any of them,
(b) no strike or work stoppage in existence or threatened involving Holdings or any of its Subsidiaries, and (c) to the
best knowledge of Holdings and Borrower, no union representation question existing with respect to the employees of Holdings or any of
its Subsidiaries and, to the best knowledge of Holdings and Borrower, no union organization activity that is taking place, except (with
respect to any matter specified in clause (a), (b) or (c) above, either individually or in the aggregate)
as could not reasonably be expected to have a Material Adverse Effect.

 

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4.19          Employee
Benefit Plans.

 

(a)          Each
Pension Plan is in substantial compliance in form and operation with its terms and with ERISA and the Internal Revenue Code
(including the Internal Revenue Code provisions compliance with which is necessary for any intended favorable tax treatment) and all
other applicable laws and regulations. Each Pension Plan (and each related trust, if any) which is intended to be qualified under
Section 401(a) of the Internal Revenue Code has received a favorable determination letter from the Internal Revenue
Service to the effect that it meets the requirements of Sections 401(a) and 501(a) of the Internal Revenue Code covering
all applicable tax law changes, or is comprised of a master or prototype plan that has received a favorable opinion letter from the
Internal Revenue Service, and, to the knowledge of Holdings, nothing has occurred since the date of such determination that would
adversely affect such determination (or, in the case of a Pension Plan with no determination, nothing has occurred that would
adversely affect the issuance of a favorable determination letter or otherwise adversely affect such qualification). No ERISA Event
has occurred or is reasonably expected to occur. None of Holdings or any ERISA Affiliate is making or accruing an obligation to make
contributions, or has, within any of the 5 calendar years immediately preceding the date this assurance is given or deemed given,
made or accrued an obligation to make, contributions to any Multiemployer Plan. There are no actions, suits or claims pending
against or involving a Pension Plan (other than routine claims for benefits) or, to the knowledge of Holdings or any ERISA
Affiliate, threatened, which would reasonably be expected to be asserted successfully against any Pension Plan and, if so asserted
successfully, would reasonably be expected either singly or in the aggregate to result in material liability to Holdings. Holdings
and each ERISA Affiliate have made all contributions to or under each Pension Plan and Multiemployer Plan required by law within the
applicable time limits prescribed thereby, by the terms of such Pension Plan or Multiemployer Plan, respectively, or by any contract
or agreement requiring contributions to a Pension Plan or Multiemployer Plan. No Pension Plan which is subject to Section 412
of the Internal Revenue Code or Section 302 of ERISA has applied for or received an extension of any amortization period within
the meaning of Section 412 of the Internal Revenue Code or Section 303 or 304 of ERISA. None of Holdings any ERISA
Affiliate have ceased operations at a facility so as to become subject to the provisions of Section 4062(e) of ERISA,
withdrawn as a substantial employer so as to become subject to the provisions of Section 4063 of ERISA or ceased making
contributions to any Pension Plan subject to Section 4064(a) of ERISA to which it made contributions.

 

(b)          With
respect to any Foreign Plan, none of the following events or conditions exists and is continuing that, either individually or in the aggregate,
would reasonably be expected to result in material liability to Holdings or an of its Subsidiaries: (i) substantial non-compliance
with its terms and with the requirements of any and all applicable laws, statutes, rules, regulations and orders; (ii) failure to
be maintained, where required, in good standing with applicable regulatory authorities; (iii) any Foreign Benefit Event; (iv) any
Lien on the property of Holdings or its Subsidiaries in favor of a Governmental Authority as a result of any action or inaction regarding
a Foreign Plan; (v) any failure to obtain or retain approval or qualification by and/or due registration with the appropriate taxation,
social security, supervisory, fiscal or other applicable governmental entities in the relevant state or jurisdiction, in order to obtain
tax approved, favored or qualified status in the relevant jurisdiction.

 

		(c)	No Credit Party is a Benefit Plan.

 

4.20        Certain
Fees. No broker’s or finder’s fee or commission will be payable with respect hereto or any of the transactions contemplated
hereby.

 

4.21        Solvency.
Each Credit Party is and, upon the incurrence of any Credit Extension by such Credit Party on any date on which this representation and
warranty is made, will be, Solvent.

 

4.22        Compliance
with Statutes, etc.. Each of Holdings and its Subsidiaries is in compliance with all applicable statutes, regulations and orders
of, and all applicable restrictions imposed by, all Governmental Authorities, in respect of the conduct of its business and the ownership
of its property (including compliance with all applicable Environmental Laws with respect to any Real Estate Asset or governing its business
and the requirements of any permits issued under such Environmental Laws with respect to any such Real Estate Asset or the operations
of Holdings or any of its Subsidiaries), except such non-compliance that, individually or in the aggregate, could not reasonably be expected
to result in a Material Adverse Effect.

 

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4.23          Disclosure.
(a) No representation or warranty of any Credit Party contained in any Credit Document or in any other documents, certificates
or written statements furnished to Lenders by or on behalf of Holdings or any of its Subsidiaries for use in connection with the
transactions contemplated hereby contains any untrue statement of a material fact or omits to state a material fact (known to
Holdings or Borrower, in the case of any document not furnished by either of them) necessary in order to make the statements
contained herein or therein not materially misleading in light of the circumstances in which the same were made. Any projections and
pro forma financial information contained in such materials are based upon good faith estimates and assumptions believed by Holdings
or Borrower, as applicable, to be reasonable at the time made, it being recognized by Agents and Lenders that such projections as to
future events are not to be viewed as facts and that actual results during the period or periods covered by any such projections may
differ from the projected results and that such differences may be material. There are no facts known to Holdings or Borrower (other
than matters of a general economic nature) that, individually or in the aggregate, could reasonably be expected to result in a
Material Adverse Effect and that have not been disclosed herein or in such other documents, certificates and statements furnished to
Lenders for use in connection with the transactions contemplated hereby.

 

(b)  As of the Closing
Date, the information included in the Beneficial Ownership Certificate is true and correct in all respects.

 

4.24          Patriot
Act; OFAC. To the extent applicable, each Credit Party is in compliance, in all material respects, with the (i) Trading with
the Enemy Act, as amended, and each of the foreign assets control regulations of the United States Treasury Department (31 C.F.R., Subtitle
B, Chapter V, as amended) and any other enabling legislation or executive order relating thereto, and (ii) Uniting and Strengthening
America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA Patriot Act of 2001) (the “Act”).
Each Credit Party has implemented and maintains in effect policies and procedures reasonably designed to achieve compliance by such Credit
Party and its directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions. The Credit Parties and, to
the actual knowledge of the Credit Parties, their respective officers, employees, directors and agents are in compliance with Anti-Corruption
Laws and applicable Sanctions. None of the Credit Parties or, to the actual knowledge of the Credit Parties, any of their respective directors,
officers, employees or agents, is a Sanctioned Person. No part of the proceeds of the Loans will be used, directly or indirectly, for
any payments to any governmental official or employee, political party, official of a political party, candidate for political office,
or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation
of the Anti-Corruption Laws.

 

4.25          Anti-Money
Laundering Laws. Neither any Credit Party nor any of its Subsidiaries and, to the knowledge of any Credit Party, any officers or
directors of such Credit Party or such Subsidiary (i) has violated or is in violation of any
applicable Anti-Money Laundering Laws in any material respect or (ii) has
engaged or engages in any transaction, investment, undertaking or activity that knowingly conceals the identity, source or destination
of the proceeds from any category of offenses designated in any applicable law or regulation implementing the “Forty Recommendations”
and “Nine Special Recommendations” published by the Organization for Economic Cooperation and Development’s Financial
Action Task Force on Money Laundering.

 

		4.26	[Reserved].

 

4.27          Use
of Proceeds. The proceeds of the Term Loans made on the Closing Date are being used by Borrower only to (i) finance a portion
of the Closing Date Acquisition (other than any portion of the Escrow Amount and/or Earnout Payment) and (iii) pay the Transaction
Costs.

 

4.28          Insurance.
Each of the Credit Parties and their respective Subsidiaries has obtained, and maintains in effect, the insurance coverage required by
Section 5.5.

 

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4.29          Collateral
Documents. Except as otherwise contemplated hereby or under any other Credit Document, the provisions of the Collateral Documents,
together with such filings and other actions required to be taken hereby or by the applicable Collateral Documents (including the delivery
to Collateral Agent of any pledged Collateral required to be delivered pursuant to the applicable Collateral Documents), are effective
to create in favor of Collateral Agent for the benefit of the Secured Parties a legal, valid and enforceable Lien to the extent a Lien
thereon may be created under the UCC or otherwise under the laws of the State of New York and a perfected, First Priority Lien on all
right, title and interest of the respective Credit Parties in the Collateral described therein (subject to Permitted Liens).

 

4.30          [Reserved].

 

4.31          [Reserved].

 

4.32          Common
Enterprise. The successful operation and condition of each of the Credit Parties is dependent on the continued successful performance
of the functions of the group of the Credit Parties as a whole and the successful operation of each of the Credit Parties is dependent
on the successful performance and operation of each Credit Party. Each Credit Party expects to derive benefit (and its board of directors
or other governing body has determined that it may reasonably be expected to derive benefit), directly and indirectly, from (i) successful
operations of each of the other Credit Parties and (ii) the credit extended by the Lenders to Company hereunder, both in their separate
capacities and as members of the group of companies. Each Credit Party has determined that execution, delivery, and performance of this
Agreement and any other Credit Documents to be executed by such Credit Party is within its purpose, will be of direct and indirect benefit
to such Credit Party, and is in its best interest.

 

4.33          Holdings
as a Holding Company. Holdings is a holding company and does not have any material liabilities (other than liabilities arising under
the Credit Documents and the Management Agreement, and liabilities permitted to be incurred by Holdings hereunder), own any material assets
(other than the Capital Stock of Borrower), or engage in any operations or business, except (a) in connection with its ownership
of Borrower and its Subsidiaries, (b) in connection with its rights and obligations under the Credit Documents and the Management
Agreement and (c) transactions expressly permitted under Section 6.15.

 

4.34          Security
and Data Privacy.

 

(a)          Neither
Holdings nor any of its Subsidiaries is in violation of any Security and Data Privacy Laws except for any such violation which could not
reasonably be expected, either individually or in the aggregate, to have a Material Adverse Effect.

 

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(b)          As
of the Closing Date, neither Holdings nor any of its Subsidiaries has experienced any Data Breach and neither Holdings nor any of
its Subsidiaries has been notified or otherwise informed in writing of any such Data Breach or incident, which could reasonably be
expected, either individually or in the aggregate, to have a Material Adverse Effect. If applicable to the extent required for
compliance with Security and Data Privacy Laws, and except as could reasonably be expected, either individually or in the aggregate,
to have a Material Adverse Effect, each of Holdings and its Subsidiaries maintains security and privacy controls and technical,
administrative, and physical security measures. Except as could not reasonably be expected, either individually or in the aggregate,
to have a Material Adverse Effect, as of the Closing Date, no Person (including any Governmental Authority) has made any claim or
commenced any action against any of Holdings or its Subsidiaries with respect to any alleged loss, damage, or unauthorized access,
use, modification, copying, deletion, or other misuse of any Personal Information, or made any claim or commenced any action against
any of Holdings or its Subsidiaries regarding a Data Breach or violation of Security and Data Privacy Laws and to the knowledge of
any of Holdings or its Subsidiaries, there is no reasonable basis for any such claim or action. Without limiting the foregoing,
except as could not reasonably be expected, either individually or in the aggregate, to have a Material Adverse Effect, each of
Holdings or its Subsidiaries has ensured that all appropriate consents (as may be required by applicable Security and Data Privacy
Laws and Contractual Obligations) have been obtained from Persons whose Personal Information is processed by Holdings or its
Subsidiaries or any Person on their behalf. For the purpose of this Section 4.34, the parties acknowledge the ongoing existence
and occurrence of attempted but unsuccessful security incidents, including, without limitation, (i) pings and other
unsuccessful broadcast attacks on Holdings’ or its Subsidiaries’ external firewalls; (ii) port or service scans on
Holdings’ or its Subsidiaries’ firewall that do not result in any unauthorized access or disrupt information system
operation, and (iii) unsuccessful log-on attempts, denial of service, and any combination of the above, so long as no such
incident results in unauthorized access, use or disclosure of Personal Information (“Unsuccessful Security Incidents”),
and hereby agree that Unsuccessful Security Incidents do not constitute a Data Breach.

 

(c)          Except
as could not reasonably be expected, either individually or in the aggregate, to have a Material Adverse Effect, neither Holdings nor
any of its Subsidiaries permit any third party to sell or rent any Personal Information, except in compliance with Security and Data Privacy
Laws.

 

4.35          Foreign
Subsidiaries. No Foreign Subsidiary owns any Material Intellectual Property or other material assets or is party to any Material Contracts,
other than (a) employees providing the services and supporting the business of Holdings and its Domestic Subsidiaries, (b) material
assets (but not any Material Contracts) as may be necessary to (i) comply with local statutory tax requirements or (ii) avoid
material adverse tax consequences to Holdings, its Subsidiaries or any direct or indirect equityholder of Holdings, or (c) Material
Contracts in existence as of the date of this Agreement as are necessary for Holdings and/or any of its Subsidiaries to conduct their
business in the ordinary course consistent with existing practices in effect prior to the date of this Agreement.

 

4.36          Regulatory
Matters.

 

(a)          Compliance
with Health Care Laws. Each of Holdings and its Subsidiaries is in compliance with all Health Care Laws and requirements of Third
Party Payor Programs applicable to it, its assets, business or operations, except for any non-compliance that would not reasonably be
expected to result in a Material Adverse Effect. No circumstance exists or event has occurred which would reasonably be expected to result
in (i) a violation of any Health Care Law or any requirement of any Third Party Payor Program by any of Holdings or its Subsidiaries,
or (ii) any Material Healthcare Liabilities arising therefrom, except where any of the foregoing would not reasonably be expected
to result in a Material Adverse Effect. No proceeding against or affecting any of Holdings or its Subsidiaries relating to any actual
or alleged non- compliance with any Health Care Law is pending or, to the knowledge of any Credit Party, threatened in writing, nor, to
the knowledge of any Credit Party, are there any facts, circumstances or conditions that would reasonably be expected to form the basis
for any such proceeding against or affecting any of Holdings and its Subsidiaries, except, in each case, where any such proceeding would
not reasonably be expected to result in a Material Adverse Effect.

 

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(b)          Regulatory
Permits. Each of Holdings and its Subsidiaries holds all Regulatory Permits necessary for it to own, lease, sublease or operate
its assets or to conduct its business or operations as presently conducted, except where the failure to hold such Permits would not
reasonably be expected to result in Material Adverse Effect. All such Regulatory Permits are in full force and effect and there is
and has been no default under, violation of, or other noncompliance with the terms and conditions thereof, except for any
non-compliance that would reasonably be expected to result in Material Adverse Effect. No condition exists or event has occurred
which, in itself or with the giving of notice or lapse of time or both, has resulted or would reasonably be expected to result in
the suspension, revocation, termination, restriction, limitation, modification or non-renewal of any Regulatory Permit, except where
the failure to have a Regulatory Permit would not reasonably be expected to result in Material Adverse Effect. No Governmental
Authority has taken, or to the knowledge of any Credit Party threatened to take, action to suspend, revoke, terminate, place on
probation, restrict, limit, modify or not renew any Regulatory Permit of any of Holdings and its Subsidiaries, except where such
action would not reasonably be expected to result in Material Adverse Effect. As of the Closing Date, Schedule 4.36 sets
forth an accurate, complete and current list of all material Regulatory Permits, and all Third Party Payor authorizations for Third
Party Payor Programs in which any of Holdings and its Subsidiaries participates. There currently exist no restrictions,
deficiencies, required plans of correction or other such remedial measures with respect to any Regulatory Permit of any of Holdings
or its Subsidiaries except where any such remedial measures or the failure to have a Regulatory Permit would not reasonably be
expected to result in Material Adverse Effect.

 

(c)          Material
Statements. None of Holdings or its Subsidiaries, the officers, or, to the knowledge of the Credit Parties, the affiliates or employees
of Holdings or its Subsidiaries, has made an untrue statement of a material fact or fraudulent statement to any Governmental Authority,
failed to disclose a material fact that must be disclosed to any Governmental Authority, or committed an act, made a statement or failed
to make a statement that, at the time such statement, disclosure or failure to disclose occurred, would reasonably be expected to constitute
a material violation of any Health Care Law.

 

(d)          Prohibited
Transactions. None of Holdings or its Subsidiaries, the officers, or, to the knowledge of the Credit Parties, the affiliates or employees
of Holdings or its Subsidiaries, directly or indirectly, has, except where such would not reasonably be expected to result in Material
Adverse Effect, done any of the following: (i) offered or paid or solicited or received any remuneration, directly or indirectly,
in cash or in kind, or made any financial arrangements, in violation of any Health Care Law; (ii) given or agreed to give, or is
aware that there has been made or that there is any agreement to make, any gift or gratuitous payment of any kind, nature or description
(whether in money, property or services) in violation of any Health Care Law; (iii) made or agreed to make, or is aware that there
has been made or that there is any agreement to make, any contribution, payment or gift of funds or property to, or for the private use
of, any governmental official, employee or agent where either the contribution, payment or gift or the purpose of such contribution, payment
or gift is or was in violation of the laws of any Governmental Authority having jurisdiction over such payment, contribution or gift;
or (iv) made, or agreed to make, or is aware that there has been made or that there is any agreement to make, any payment to any
person with the intention or understanding that any part of such payment would be in violation of any Health Care Law. To the knowledge
of each Credit Party, no person has filed or has threatened to file against Holdings of its Subsidiaries or any of their respective Affiliates
an action under any federal or state whistleblower statute, including under the False Claims Act (31 U.S.C. § 3729 et seq.).

 

(e)          Exclusion.
None of Holdings or its Subsidiaries or any owner, officer, director, partner, managing employee or Person with an “ownership
interest” or an “indirect ownership interest” (as those terms are defined in 42 C.F.R. § 420.201) in any of
Holdings or its Subsidiaries has been (or, has been threatened to be) (i) excluded from any Third Party Payor Program pursuant
to 42 U.S.C. § 1320a-7 and related regulations, (ii) “suspended” or “debarred” from selling
products to the U.S. government or its agencies pursuant to the Federal Acquisition Regulation, relating to debarment and suspension
applicable to federal government agencies generally (42 C.F.R. Subpart 9.4), or other applicable laws or regulations, (iii) debarred,
disqualified, suspended or excluded from participation in any Third Party Payor Program or is listed on the list of excluded parties
maintained by the General Services Administration or the office of the Inspector General of the Department of Health and Human
Services, or a comparable state healthcare exclusion listing, nor is any such debarment, disqualification, suspension or exclusion
threatened or pending, or (iv) made a party to any other action by any Governmental Authority that may prohibit it from selling
products or providing services to any governmental or other purchaser pursuant to any federal, state or local laws or regulations,
except, in each case, where any of the foregoing would not reasonably be expected to result in a Material Adverse Effect.

 

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(f)          Corporate
Integrity Agreement. None of holdings or its Subsidiaries, or any of their owners, officers, directors, partners, managing employees
or Persons with a “direct or indirect ownership or control interest” (as that phrase is used in 42 C.F.R. §1001.1001)
in any Holdings or its Subsidiaries is a party to, or bound by, any order, individual integrity agreement, corporate integrity agreement,
corporate compliance agreement, deferred prosecution agreement, or other formal or informal agreement with any Governmental Authority
concerning compliance with Health Care Laws.

 

(g)          Proceedings;
Audits. Except as set forth in Schedule 4.36, there are no pending (or, to the knowledge of any Credit Party, threatened) proceedings
against or affecting any of Holdings or its Subsidiaries relating to any actual or alleged non-compliance with any Health Care Law or
requirement of any Third Party Payor Program, except for any non-compliance that would not reasonably be expected to result in Material
Adverse Effect. Except as set forth in Schedule 4.36, there currently exist no restrictions, deficiencies, required plans of correction
or other such remedial measures with respect to any Regulatory Permit of any of Holdings or its Subsidiaries, or any of their participation
in any Third Party Payor Program, except where any such remedial measures or the failure to have an unrestricted Regulatory Permit would
not reasonably be expected to result in Material Adverse Effect. Except as set forth in Schedule 4.36, without limiting the foregoing,
other than audits and claims reviews conducted in the ordinary course of business, no material validation review, program integrity review,
audit or other investigation related to any of Holdings or its Subsidiaries or their respective operations, or the consummation of the
transactions contemplated in the Loan Documents or related to the Collateral (i) has been conducted by or on behalf of any Governmental
Authority, or (ii) is scheduled, pending or, to the knowledge of any Credit Party, threatened by any Governmental Authority.

 

(h)          Overpayments.
None of Holdings or any of its Subsidiaries (i) has knowingly retained an undisputed overpayment received from, or failed to refund
any amount due to, any Third Party Payor in material violation of any Health Care Law or contract, or (ii) except for overpayments
received (and repaid) or claims adjustments made in the ordinary course of business, has received written notice of, or has knowledge
of, any overpayment or refunds due to any Third Party Payor that would reasonably be expected to result in a Material Adverse Effect.

 

(i)          HIPAA
Representation. Except whereas could not reasonably be expected to result in Material Adverse Effect, each of Holdings and its Subsidiaries
is in compliance in all material respects with HIPAA and state data privacy and security laws related to individually identifiable health
information. None of Holdings or any of its Subsidiaries has received written notice of, and there is no action at law or in equity or,
to the Credit Party’s knowledge, inquiry or investigation pending or threatened in writing with respect to any alleged “breach”
(as defined in HIPAA) by Holdings or any of its Subsidiaries or their respective “workforce” (as defined in HIPAA), except
where such action, inquiry, or investigation could not reasonably be expected to result in Material Adverse Effect. Except whereas could
not be reasonably be expected to result in Material Adverse Effect, each of Holdings and its Subsidiaries has conducted a risk analysis
as required for material compliance with HIPAA and has used commercially reasonable efforts to implement appropriate corrective action
designed to address all material vulnerabilities identified through such analysis. No “breach” by Holdings and its Subsidiaries
or their respective “workforce” or successful “security incident” (as defined in HIPAA) has occurred with respect
to “protected health information” (as defined in HIPAA) in the possession or under the control of a Credit Party, except where
such action, inquiry, or investigation could not reasonably be expected to result in Material Adverse Effect.

 

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(j)          New
York Medicaid Program. All service arrangements with professional practices that provide services to persons covered by or eligible
to participate in the New York Medicaid program (whether traditional or managed care) provide for compensation to the service provider
that is reasonably related to the cost of services; unrelated, directly or indirectly, to dollar amounts billed to or collected from the
New York Medicaid program (whether traditional or managed care); and not dependent on actual collections. Without limiting the foregoing,
since November 1, 2020, none of Holdings, its Subsidiaries, or any other Credit Party has been compensated by a professional practice
in New York based on a percentage of amounts billed to or collected from the New York Medicaid program (whether traditional or managed
care). Holdings, its Subsidiaries, and each other Credit Party is in material compliance with all Requirements of Law concerning the manner
in which such service provider is compensated by the professional practice to which it provides services.

 

SECTION 5.          AFFIRMATIVE
COVENANTS

 

Each Credit Party covenants
and agrees that so long as any Commitment is in effect and until payment in full of all Obligations (other than contingent indemnification
obligations to the extent no claim giving rise thereto has been asserted), each Credit Party shall perform, and, where applicable, shall
cause each of its Subsidiaries to perform, all covenants in this Section 5.

 

5.1          Financial
Statements and Other Reports. Unless otherwise provided below, Holdings will deliver to Administrative Agent (for further distribution
to the Lenders):

 

(a)          Monthly
Reports. As soon as available, and in any event within 30 days after the end of each month (commencing with the month ending September,
2021), the consolidated and consolidating balance sheet of Holdings and its Subsidiaries as at the end of such month and the related consolidated
and consolidating statements of income and cash flows, and consolidated statements of stockholders’ equity of Holdings and its Subsidiaries
for such month and for the period from the beginning of the then current Fiscal Year to the end of such month, setting forth in each case
in comparative form (in Excel format or such other format as is reasonably acceptable to Administrative Agent) the corresponding figures
for the corresponding periods of the previous Fiscal Year and the corresponding figures from the Financial Plan for the current Fiscal
Year, all in reasonable detail, together with a schedule of reconciliations for any reclassifications with respect to prior months or
periods (and, in connection therewith, copies of any restated financial statements for any impacted month or period) a Financial Officer
Certification and Narrative Report with respect thereto, evidence of the Cash and Cash Equivalents held by Holdings, Borrower and each
of their Subsidiaries in each country in which Borrower or any Subsidiary does business as of such month-end, and, if requested in writing
by the Administrative Agent, any other operating reports prepared by management for such period;

 

(b)          Quarterly
Financial Statements. As soon as available, and in any event within 45 days after the end of each Fiscal Quarter of each Fiscal Year
(including the fourth Fiscal Quarter and commencing with the Fiscal Quarter ending September 30, 2021), the consolidated and consolidating
balance sheets of Holdings and its Subsidiaries as at the end of such Fiscal Quarter and the related consolidated (and with respect to
statements of income and cash flows, consolidating) statements of income, stockholders’ equity and cash flows of Holdings and its
Subsidiaries for such Fiscal Quarter and for the period from the beginning of the then current Fiscal Year to the end of such Fiscal Quarter,
setting forth in each case in comparative form (in Excel format or such other format as is reasonably acceptable to Administrative Agent)
the corresponding figures for the corresponding periods of the previous Fiscal Year and the corresponding figures from the Financial Plan
for the current Fiscal Year covered by such financial statements, all in reasonable detail, together with a Financial Officer Certification
and a Narrative Report with respect thereto;

 

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(c)          Annual
Financial Statements. As soon as available, and in any event within 90 days after the end of each Fiscal Year, (i) the consolidated
and consolidating balance sheets of Holdings and its Subsidiaries as at the end of such Fiscal Year and the related consolidated (and
with respect to statements of income and cash flows, consolidating) statements of income, stockholders’ equity and cash flows of
Holdings and its Subsidiaries for such Fiscal Year, setting forth in each case in comparative form (in Excel format or such other format
as is reasonably acceptable to Administrative Agent) the corresponding figures for the previous Fiscal Year and the corresponding figures
from the Financial Plan for the Fiscal Year covered by such financial statements, in reasonable detail, together with a Financial Officer
Certification and a Narrative Report with respect thereto; and (ii) with respect to such consolidated financial statements a report
thereon of Baker Tilly US, LLP or other independent certified public accountants of recognized national standing selected by Holdings,
and reasonably satisfactory to Administrative Agent (which report shall be unqualified as to going concern and scope of audit, and shall
state that such consolidated financial statements fairly present, in all material respects, the consolidated financial position of Holdings
and its Subsidiaries as at the dates indicated and the results of their operations and their cash flows for the periods indicated in conformity
with GAAP applied on a basis consistent with prior years (except as otherwise disclosed in such financial statements) and that the examination
by such accountants in connection with such consolidated financial statements has been made in accordance with generally accepted auditing
standards) together with a written statement by such independent certified public accountants stating (1) that their audit examination
has included a review of the terms of the Credit Documents, (2) whether, in connection therewith, any condition or event that constitutes
a Default or an Event of Default has come to their attention and, if such a condition or event has come to their attention, specifying
the nature and period of existence thereof, and (3) that nothing has come to their attention that causes them to believe that the
information contained in any Compliance Certificate is not correct or that the matters set forth in such Compliance Certificate are not
stated in accordance with the terms hereof (such report shall also include (x) a detailed summary of any audit adjustments; (y) a
reconciliation of any audit adjustments or reclassifications to the previously provided monthly or quarterly financials; and (z) restated
monthly or quarterly financials for any impacted periods);

 

(d)          Compliance
Certificate; Cash Balance. Together with each delivery of financial statements of Holdings and its Subsidiaries pursuant to Sections
5.1(a), 5.1(b) and 5.1(c), a duly executed and completed Compliance Certificate and evidence of the Cash and Cash Equivalent held
by Holdings and each Subsidiary in each country in which Holdings or any Subsidiary does business;

 

(e)          Statements
of Reconciliation after Change in Accounting Principles. If, as a result of any change in accounting principles and policies from
those used in the preparation of the Historical Financial Statements, the consolidated financial statements of Holdings and its Subsidiaries
delivered pursuant to Section 5.1(c) will differ in any material respect from the consolidated financial statements that
would have been delivered pursuant to such subdivisions had no such change in accounting principles and policies been made, then, together
with the first delivery of such financial statements after such change, one or more statements of reconciliation for all such prior financial
statements in form and substance satisfactory to Administrative Agent;

 

(f)          Notice
of Default or Material Adverse Effect. Within three Business Days after any officer of Holdings or Borrower obtaining knowledge
(i) of any condition or event that constitutes a Default or an Event of Default or that notice has been given to Holdings or
Borrower with respect thereto; (ii) that any Person has given any notice to Holdings or
Borrower or any of its Subsidiaries or taken any other action with respect to any event or condition set forth in
Section 8.1(b); or (iii) of the occurrence of any event or change that has caused or evidences or could be reasonably be
expected to cause, either in any case or in the aggregate, a Material Adverse Effect, a certificate of its Authorized Officers
specifying the nature and period of existence of such condition, event or change, or specifying the notice given and action taken by
any such Person and the nature of such claimed Event of Default, Default, default, event or condition, and what action Borrower has
taken, is taking and proposes to take with respect thereto;

 

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(g)          Intellectual
Property Notice. Together with the delivery of financial statements of Holdings and its Subsidiaries pursuant to Section 5.1(b),
written notice of the registration of any copyright, or the filing of any patent or trademark application, including any subsequent ownership
right of any Credit Party in or to any registered copyright, patent or registered trademark not shown in the Credit Documents or any previous
notice delivered pursuant to this clause (g);

 

(h)          Notice
of Litigation. Within three Business Days after any officer of Holdings or Borrower obtaining knowledge of (i) the institution
of, or non-frivolous threat of, any Adverse Proceeding not previously disclosed in writing by Borrower to Lenders, or (ii) any material
development in any Adverse Proceeding that, in the case of either clause (i) or (ii) if adversely determined,
could be reasonably expected to have a Material Adverse Effect, or seeks to enjoin or otherwise prevent the consummation of, or to recover
any damages or obtain relief as a result of, the transactions contemplated hereby, written notice thereof together with such other information
as may be reasonably available to Holdings or Borrower to enable Lenders and their counsel to evaluate such matters;

 

(i)          ERISA.
Promptly (i)(A) after Holdings or any ERISA Affiliate knows or has reason to know that any ERISA Event, written notice thereof describing
such ERISA Event and the action, if any, proposed to be taken with respect to such ERISA Event and a copy of any notice filed with the
PBGC or the Internal Revenue Service pertaining to such ERISA Event and any notices received by Holdings or such ERISA Affiliate from
the PBGC or any other Governmental Authority with respect thereto, and (B) upon becoming aware (1) of the adoption of, or the
commencement of contributions to, any Pension Plan subject to Section 412 of the Internal Revenue Code by Holdings, any of its Subsidiaries
or any ERISA Affiliate, or (2) of the adoption of any amendment to a Pension Plan subject to Section 412 of the Internal Revenue
Code which results in a material increase in contribution obligations of Holdings, any of its Subsidiaries or any ERISA Affiliate, a detailed
written description thereof, and (ii) copies of such other documents or governmental reports or filings relating to any Pension Plan
as Administrative Agent shall reasonably request;

 

(j)          Financial
Plan. As soon as practicable and in any event no later than 30 days after the beginning of each Fiscal Year, a consolidated plan and
financial forecast for such Fiscal Year and each Fiscal Year (or portion thereof) through the Maturity Date of the Loans (a “Financial
Plan”), including (i) a forecasted consolidated balance sheet and forecasted consolidated statements of income and cash
flows of Holdings and its Subsidiaries for each such Fiscal Year, (ii) forecasted consolidated statements of income and cash flows
of Holdings and its Subsidiaries for each month of each such Fiscal Year, (iii) forecasts demonstrating projected compliance with
the requirements of Section 6.8 through the Maturity Date of the Loans, and (iv) forecasts demonstrating adequate liquidity
through the Maturity Date of the Loans, together, in each case, with an explanation of the assumptions on which such forecasts are based,
all in form and substance reasonably satisfactory to Administrative Agent;

 

(k)          Insurance
Report. As soon as practicable and in any event by the last day of each Fiscal Year, a report in form and substance satisfactory to
Administrative Agent outlining all material insurance coverage maintained as of the date of such report by Holdings and its Subsidiaries
and all material insurance coverage planned to be maintained by Holdings and its Subsidiaries in the immediately succeeding Fiscal Year;

 

(l)          Notice
of Change in Board of Directors. Written notice of any change in the board of directors (or similar governing body) of Holdings or
any of its Subsidiaries within three Business Days thereafter;

 

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(m)          Notice
Regarding Certain Dispositions and Material Contracts. Promptly, and in any event within five Business Days (or such longer
period as agreed in writing by Administrative Agent in its sole discretion) after the occurrence of any of the following, written
notice of: (i) any Disposition of Collateral (not including the liquidation of obsolete inventory to third parties on an
arms-length basis), or the incurrence of any contractual obligations with respect to any Disposition of Collateral permitted under
this Agreement if the aggregate Cash and non-Cash consideration (including assumption of Indebtedness) in connection with such
Disposition is (or could reasonably be expected to become) $750,000 or more, which notice shall identify the related purchaser(s),
the anticipated closing date of such Disposition and the aggregate Cash and non-Cash consideration (including assumption of
Indebtedness) to be paid in connection with such Disposition; (ii) any default or event of default (however defined) under a
Material Contract that gives the non-defaulting party the right to terminate such Material Contract, or any modification, amendment,
or supplement to a Material Contract that reduces the aggregate expected revenue from such Material Contract in any Fiscal Year by
an amount equal to or greater than $750,000; or
(iii)          (A) the termination or amendment of any Material
Contract of Holdings or any of its Subsidiaries in a manner that is materially adverse to Holdings or such Subsidiary, as the case
may be or (B) the entering into of any new Material Contract, which, in the case of subclauses (A) and (B) of this
clause (iii), such written notice shall describe such event and attach copies of such material amendments or new contracts (to the
extent such delivery to Administrative Agent is permitted by the terms of any such Material Contract (provided, no such prohibition
on delivery shall be effective if it were bargained for by Holdings or its applicable Subsidiary with the intent of avoiding
compliance with this Section 5.1(m)) and an explanation of any actions being taken with respect thereto;

 

(n)          Environmental
Reports and Audits. Within ten Business Days following receipt thereof, copies of any environmental audit or environmental report
of any Facility or which relate to any environmental liabilities of Holdings or its Subsidiaries which include findings that would reasonably
be expected to result in a Material Adverse Effect;

 

(o)          Information
Regarding Collateral. (a) Borrower will furnish to Collateral Agent, at least 10 days prior to such change (or such shorter period
as agreed in writing by Collateral Agent in its sole discretion), written notice of any change (i) in any Credit Party’s corporate
name, (ii) in any Credit Party’s identity or corporate structure, or (iii) in any Credit Party’s Federal Taxpayer
Identification Number. Borrower agrees not to effect or permit any change referred to in the preceding sentence unless all filings have
been made under the UCC or otherwise that are required in order for Collateral Agent to continue at all times following such change to
have a valid, legal and perfected security interest in all the Collateral and for the Collateral at all times following such change to
have a valid, legal and perfected security interest as contemplated in the Collateral Documents. Borrower also agrees promptly to notify
Collateral Agent if any material portion of the Collateral is damaged or destroyed;

 

(p)          Annual
Collateral Verification. Each year, at the time of delivery of annual financial statements with respect to the preceding Fiscal Year
pursuant to Section 5.1(c), Borrower shall deliver to Collateral Agent an Officer’s Certificate either 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 or identifying such changes that have occurred during the prior Fiscal
Year;

 

		(q)	[Reserved];

 

(r)          Aging
Reports. Together with each delivery of financial statements of Borrower and each other Credit Party pursuant to Sections 5.1(a),
5.1(b), and 5.1(c), (i) a summary of the accounts receivable aging report of each Credit Party as of the end of such
period, and (ii) a summary of accounts payable aging report of each Credit Party as of the end of such period; and

 

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(s)          Other
Information. Within three Business Days after their becoming available or being requested in writing, as applicable, (A) copies
of (i) all financial statements, reports, notices and proxy statements sent or made available generally by Holdings or any Subsidiary
of Holdings to its respective security holders, other than Holdings or another Subsidiary of Holdings, (ii) all regular and periodic
reports and all registration statements and prospectuses, if any, filed by Holdings or any of its Subsidiaries with any securities exchange
or with the Securities and Exchange Commission or any governmental or private regulatory authority, (iii) all press releases and
other statements made available generally by Holdings or any of its Subsidiaries to the public concerning material developments in the
business of Holdings or any of its Subsidiaries and (iv) copies of any detailed audit reports, management letters or recommendations
submitted to the board of directors (or the audit committee of the board of directors) of Holdings by independent accountants in connection
with the accounts or books of Holdings or any Subsidiary thereof, or any audit of any of them and (B) such other information and
data with respect to Holdings or any of its Subsidiaries as from time to time may be reasonably requested by Administrative Agent.

 

5.2          Existence.
Except as otherwise permitted under Section 6.9, each Credit Party will, at all times preserve and keep in full force and
effect (i) its existence and (ii) all rights and franchises, licenses and permits material to its business, except where failure
to comply with this clause (ii) would not reasonably be expected to result in a Material Adverse Effect; provided, no Credit
Party shall be required to preserve any such existence, right or franchise, licenses and permits if such Person’s board of directors
(or similar governing body) shall determine that the preservation thereof is no longer desirable in the conduct of the business of such
Person, and that the loss thereof is not disadvantageous in any material respect to such Person or to Lenders.

 

5.3          Payment
of Taxes and Claims. Each Credit Party will, and will cause each of its Subsidiaries to, pay all material Taxes imposed upon it or
any of its properties or assets or in respect of any of its income, businesses or franchises before any penalty or fine accrues thereon,
and all claims (including claims for labor, services, materials and supplies) for sums that have become due and payable and that by law
have or may become a Lien upon any of its properties or assets, prior to the time when any penalty or fine shall be incurred with respect
thereto; provided, no such Tax or claim need be paid if it is being contested in good faith by appropriate proceedings promptly
instituted and diligently conducted, so long as (a) adequate
reserve or other appropriate provision, as shall be required in conformity with GAAP shall have been made therefor, and (b) in the
case of a Tax or claim which has or may become a Lien against any of the Collateral, such contest proceedings conclusively operate to
stay the sale of any portion of the Collateral to satisfy such Tax or claim. No Credit Party will, or will cause any of its Subsidiaries
to, file or consent to the filing of any consolidated income tax return with any Person (other than Holdings or any of its Subsidiaries).

 

5.4          Maintenance
of Properties.

 

Each Credit Party will, and
will cause each of its Subsidiaries to, maintain or cause to be maintained in good repair, working order and condition, ordinary wear
and tear excepted, all material real properties used or useful in the business of Holdings and its Subsidiaries and from time to time
will make or cause to be made all appropriate repairs, renewals and replacements thereof.

 

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5.5          Insurance.
Holdings will maintain or cause to be maintained, with financially sound and reputable insurers, (i) business interruption
insurance reasonably satisfactory to Administrative Agent, and (ii) such casualty insurance, public liability insurance, third
party property damage insurance with respect to liabilities, losses or damage in respect of the assets, properties and businesses of
Holdings and its Subsidiaries as may customarily be carried or maintained under similar circumstances by Persons of established
reputation engaged in similar businesses, in each case in such amounts (giving effect to self- insurance), with such deductibles,
covering such risks and otherwise on such terms and conditions as shall be customary for such Persons. Without limiting the
generality of the foregoing, Holdings and its Subsidiaries will maintain or cause to be maintained (a) flood insurance with
respect to each Flood Hazard Property that is located in a community that participates in the National Flood Insurance Program, in
each case in compliance with any applicable regulations of the Board of Governors of the Federal Reserve System, and
(b) replacement value casualty insurance on the Collateral under such policies of insurance, with such insurance companies, in
such amounts, with such deductibles, and covering such risks as are at all times carried or maintained under similar circumstances
by Persons of established reputation engaged in similar businesses. Each such policy of insurance shall (i) name Collateral
Agent, on behalf of Lenders as an additional insured thereunder as its interests may appear, and (ii) in the case of each
casualty insurance policy, contain a loss payable clause or endorsement, satisfactory in form and substance to Collateral Agent,
that names Collateral Agent, on behalf of Secured Parties as lender’s loss payee thereunder and provides for at least 30
days’ (or such shorter period agreed to by Collateral Agent in its sole discretion) prior written notice to Collateral Agent
of any modification or cancellation of such policy.

 

5.6          Inspections.
Each Credit Party will, and will cause each of its Subsidiaries to, permit any authorized representatives designated by any Agent or any
Lender to visit and inspect any of the properties of any Credit Party and any of its Subsidiaries, to inspect, copy and take extracts
from its and their financial, tax and accounting records, and to discuss its and their affairs, finances, taxes and accounts with its
and their officers and independent public accountants and tax advisors, all at the expense of Borrower and upon reasonable notice and
at such reasonable times during normal business hours and as often as may reasonably be requested; provided that, so long as no
Event of Default shall have occurred and be continuing, such visits and inspections shall be limited to one visit and inspection during
any calendar year.

 

5.7          Lenders
Meetings. Holdings and Borrower will, upon the request of Administrative Agent or Requisite Lenders, participate in a meeting of Administrative
Agent and Lenders on an annual basis to be held at Borrower’s corporate offices (or virtually or at such other location as may be
agreed to by Borrower and Administrative Agent) at such time as may be agreed to by Borrower and Administrative Agent.

 

5.8          Compliance
with Laws and Material Contract Obligations. Each Credit Party will (i) comply, and shall cause each of its Subsidiaries, to
comply, with the requirements of all applicable laws, rules, regulations and orders of any Governmental Authority (including all Environmental
Laws and the Monitor Order), and (ii) perform its obligations under all Material Contracts, in each case except where the failure
to do so, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect.

 

		5.9	Environmental.

 

(a)          Environmental
Disclosure. Holdings will deliver to Administrative Agent (for further distribution to the Lenders), promptly upon the occurrence
thereof, written notice describing in reasonable detail (1) any Release at any Mortgaged Property required to be reported by Holdings
or any of its Subsidiaries to any federal, state or local governmental or regulatory agency under any applicable Environmental Laws, and
(2) any Environmental Claims that, in the case of (1) and (2), individually or in the aggregate, would reasonably be expected
to have a Material Adverse Effect

 

(b)          Hazardous
Materials Activities, Etc. Each Credit Party shall promptly take, and shall cause each of its Subsidiaries promptly to take, any
and all actions necessary to (i) cure any violation of applicable Environmental Laws by such Credit Party or its Subsidiaries
that would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, and (ii) response to
any Environmental Claim against such Credit Party or any of its Subsidiaries where failure to do so would reasonably be expected to
have, individually or in the aggregate, a Material Adverse Effect, provided, however, any such Credit Party shall have the right to
contest any such Environmental Claim so long as appropriate reserves are maintained with respect thereto in accordance with U.S.
GAAP.

 

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5.10          Subsidiaries.
(a) In the event that any Person becomes a Domestic Subsidiary of Holdings, Holdings shall (i) concurrently with such Person
becoming a Domestic Subsidiary (or such later date as Administrative Agent may agree in writing, which writing may be by email) cause
such Subsidiary to become a Guarantor hereunder, an Obligor and a Payee under the Master Intercompany Note, and a Grantor under the Pledge
and Security Agreement by executing and delivering to Administrative Agent and Collateral Agent a Counterpart Agreement (and, if applicable,
executing and delivering or causing to be executed and delivered one or more Foreign Collateral Documents with respect to Collateral owned
by it), and (ii) take all such actions and execute and deliver, or cause to be executed and delivered, all such documents, instruments,
agreements, and certificates as are similar to those described in Sections 3.1(e), 3.1(i), 3.1(j) and 3.1(m); and (b) in the
event that any Person becomes a Foreign Subsidiary of Holdings, Holdings shall (i) concurrently with such Person becoming a Foreign
Subsidiary (or such later date as Administrative Agent may agree in writing, which writing may be by e-mail), cause such Subsidiary to
become a Guarantor, an Obligor and a Payee under the Master Intercompany Note, and a Grantor under the applicable Foreign Collateral Documents
(and, if such Foreign Subsidiary owns any assets in the United States of America, the Pledge and Security Agreement), in each case by
executing and delivering or causing to be executed and delivered to Administrative Agent and/or Collateral Agent, as applicable, one or
more Foreign Collateral Documents with respect to Collateral owned by it and, in the case of a Foreign Subsidiary, a separate Guaranty,
in each case, as requested by Administrative Agent, and (ii) take all such actions and execute and deliver, or cause to be executed
and delivered, all such documents, instruments, agreements, and certificates as are similar to those described in Sections 3.1(e), 3.1(i),
3.1(j) and 3.1(m) as it would apply to assets and properties located inside and outside the United States of America; provided,
however, that if (x) such Foreign Subsidiary would be prohibited by applicable law from becoming a Guarantor hereunder, (y) such
actions described in clause 5.10(a)(i) above (solely with respect to a Domestic Subsidiary that is a CFC Holding Company) or clause
5.10 (b)(i) above (with respect to a Foreign Subsidiary) would result in material adverse tax consequences to any Credit Party (or
such Credit Party’s direct or indirect equityholders), as reasonably determined by the Borrower in good faith and subject to the
consent of the Administrative Agent (such consent not be unreasonably withheld or delayed) (but in the case of clause (y), only for so
long as the applicable material adverse tax consequences remain) or (z) the Administrative Agent agrees in writing that the cost,
burden, difficulty or consequence of providing such a guarantee outweighs, or is excessive in light of, the benefits afforded thereby,
then, in any such case, such Foreign Subsidiary or CFC Holding Company shall not be required to become a Guarantor, a Payee under the
Master Intercompany Note, a Grantor under the Pledge and Security Agreement or a party to the applicable Collateral Document (provided,
for the avoidance of doubt, that such Foreign Subsidiary or CFC Holding Company shall be required to become an Obligor under the Master
Intercompany Note); and provided, further, that no Foreign Subsidiary shall have any material Domestic Subsidiaries. With
respect to each such Subsidiary, Holdings shall promptly send to Administrative Agent written notice setting forth with respect to such
Person (i) the date on which such Person became a Subsidiary of Holdings, and (ii) all of the data required to be set forth
in Schedules 4.1 and 4.2 with respect to all Subsidiaries of Holdings; provided, such written notice shall be deemed to supplement Schedule
4.1 and 4.2 for all purposes hereof.

 

5.11          Additional
Material Real Estate Assets. In the event that any Credit Party acquires or leases a Material Real Estate Asset or a Real Estate
Asset owned or leased on the Closing Date becomes a Material Real Estate Asset and such interest has not otherwise been made subject
to the Lien of the Collateral Documents in favor of Collateral Agent, for the benefit of Secured Parties, then such Credit Party,
contemporaneously with acquiring such Material Real Estate Asset, or promptly after a Real Estate Asset owned or leased on the
Closing Date becomes a Material Real Estate Asset, shall take all such actions and execute and deliver, or cause to be executed and
delivered, all Real Estate Deliverables with respect to each such Material Real Estate Asset that Collateral Agent shall reasonably
request to create in favor of Collateral Agent, for the benefit of Secured Parties, a valid and, subject to any filing and/or
recording referred to herein, perfected First Priority security interest in such Material Real Estate Assets. In addition to the
foregoing, Borrower shall, at the request of Requisite Lenders, deliver, from time to time, to Administrative Agent such appraisals
as are required by law or regulation of Real Estate Assets with respect to which Collateral Agent has been granted a Lien.

 

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5.12          Further
Assurances. (a) At any time or from time to time upon the request of Administrative Agent, each Credit Party will, at its expense,
promptly execute, acknowledge and deliver such further documents and do such other acts and things as Administrative Agent or Collateral
Agent may reasonably request in order to effect fully the purposes of the Credit Documents, including providing Lenders with any information
reasonably requested pursuant to Section 10.21. In furtherance and not in limitation of the foregoing, each Credit Party shall take
such actions as Administrative Agent or Collateral Agent may reasonably request from time to time to ensure that the Obligations are guaranteed
by the Guarantors and are secured by substantially all of the assets of Holdings, and its Subsidiaries and all of the outstanding Capital
Stock of Borrower and its Subsidiaries (subject to limitations contained in the Credit Documents with respect to Foreign Subsidiaries).

 

(b)          Subject
to Section 5.21, each Credit Party shall use its commercially reasonable efforts to deliver a Landlord Collateral Access Agreement
with respect to any leased property (i) at which such Credit Party maintains its headquarters or (ii) at which Collateral with
a value of more than $250,000 is located, in each case executed and delivered by the landlord of any Leasehold Property and by the applicable
Credit Party.

 

5.13          [Reserved].

 

5.14          Cash
Repatriation. Within ten Business Days after the end of each month (commencing with the month ending on September 30, 2021),
each Foreign Subsidiary shall transfer all cash balances standing to the credit of any Deposit Account or Securities Account of such Foreign
Subsidiary in excess of $1,000,000 (or its equivalent in a foreign currency at the then prevailing Spot Rate) to one or more Deposit Accounts
held by a Credit Party in the United States that, subject to the requirements of Sections 5.19, 5.20 and 5.21, are
Controlled Accounts.

 

5.15          Currency
Agreements. Within 90 days following the Closing Date (or such later date that may be agreed in writing by Administrative Agent in
its sole discretion) and at all times thereafter, the Borrower shall maintain, or cause to be maintained, in effect one or more Currency
Agreements for a term of not less than 12 months, which Currency Agreements shall effectively limit the Borrower’s exposure to fluctuating
foreign currency exchange rates in respect of Indian rupees with respect to a notional principal amount of not less than 75% of the aggregate
risk and shall otherwise be in form and substance reasonably satisfactory to the Administrative Agent.

 

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5.16          Board
Observation Rights. Administrative Agent may designate one representative (herein, the “Designated Observer”)
who shall have the right to attend and participate, in person or by telephone, in each meeting of the Board of Directors of Holdings
and each of its Subsidiaries (and each committee of any of such Boards of Directors) in a nonvoting observer capacity.
Notwithstanding the foregoing, no failure by Holdings or any Subsidiary of Holdings to comply with the provisions of this Section 5.15
shall affect the validity of any action taken at any such meeting. The Designated Observer shall be given (i) notice of any
meeting of any Board of Directors at the same time and in the same manner as such notice is given to all of the relevant directors,
and (ii) all written materials and other information provided by Holdings or any Subsidiary of Holdings to any of their
respective directors in connection with such meetings. If any action is proposed to be taken by any such Board of Directors by
written consent in lieu of a meeting, Holdings or any Subsidiary of Holdings, as the case may be, will give written notice thereof
to the Designated Observer at the same time as notice is given to the members of such Board of Directors and will provide a copy of
such written consent to the Designated Observer as soon as practicable. The Designated Observer shall be entitled to receive copies
of all minutes of such meetings, together with copies of any items distributed to the members of the Board of Directors of such
Persons at such meetings, whether or not the Designated Observer attends any such meeting. The Designated Observer shall not
constitute a member of such Board of Directors of Holdings or any Subsidiary of Holdings. Each of Holdings and any Subsidiary of
Holdings reserves the right to exclude the Designated Observer from access to any material or meeting or portion thereof if Holdings
or such Subsidiary believes upon advice from counsel that such exclusion is reasonably necessary to preserve the attorney-client
privilege or any confidentiality obligation. The Designated Observer may be required to execute and deliver a customary form of
confidentiality agreement with Holdings and any Subsidiary of Holdings (for the avoidance of doubt, such confidentiality obligations
thereunder shall survive the termination of this Agreement). Borrower shall reimburse the Designated Observer for the reasonable and
documented out-of-pocket expenses (including travel expenses) incurred by the Designated Observer in connection with attendance at
any of such meetings of the Board of Directors of Holdings or any Subsidiary of Holdings.

 

5.17          Data
Breach. Each of Holdings and its Subsidiaries shall maintain in its reasonable business judgment commercially reasonable
administrative, technical and physical safeguards designed to protect Personal Information against a Data Breach. Each of Holdings
and its Subsidiaries shall at all times in its reasonable business judgment have commercially reasonable policies and procedures in
place that are designed to (i) protect the security of Personal Information, (ii) protect against any reasonably
anticipated threats to the security or integrity of Personal Information, (iii) protect against potential Data Breaches and
(iv) ensure the deletion or destruction of such Personal Information in accordance with Security and Data Privacy Laws and
Contractual Obligations. If Holdings or any of its Subsidiaries suffers a Data Breach (irrespective of cause) that could reasonably
be expected to have a Material Adverse Effect, Holdings shall (a) reasonably promptly, and in any event within five Business
Days after obtaining actual knowledge thereof, inform Administrative Agent upon obtaining knowledge of such Data Breach,
(b) reasonably cooperate with any investigation by any Governmental Authority of such Data Breach including in connection with
taking corrective action, (c) reasonably promptly comply with all applicable laws concerning such Data Breach in all material
respects and (d) use commercially reasonable efforts to mitigate any damage that has occurred as a result of such Data
Breach.

 

5.18          Regulatory
Matters.

 

(a)          Without
limiting or qualifying any other provision of this Agreement, each of Holdings and its Subsidiaries will comply in all material respects
with all applicable material Health Care Laws relating to the operation of such Person’s business, except where failure to do so
would not reasonably be expected to result in a Material Adverse Effect.

 

(b)          Each
of Holdings and its Subsidiaries shall (i) obtain, maintain and preserve, and cause each of its Subsidiaries to obtain, maintain
and preserve, and take all necessary action to timely renew, all material Regulatory Permits (including, as applicable, Regulatory Permits
necessary for it to be eligible to receive payment and compensation from and to participate in Medicare, Medicaid or any other material
Third Party Payor Programs) which are necessary in the proper conduct of its business; (ii) be and remain in material compliance
with all applicable requirements under, Medicare, Medicaid and other material Third Party Payor Programs; and (iii) keep and maintain
all records required to be maintained by any Governmental Authority or otherwise under any applicable material Health Care Law, in each
case, except where failure to do so would not reasonably be expected to result in a Material Adverse Effect.

 

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(c)          Each
of Holdings and its Subsidiaries shall maintain and comply in all material respects with a corporate and health care regulatory compliance
program (“Compliance Program”) that is reasonably designed to ensure compliance with all applicable Health Care Laws,
including HIPAA, and allows Administrative Agent and/or any of its counsel and consultants from time to time to review such Compliance
Program at reasonable times and upon prior written notice. Each of Holdings and its Subsidiaries shall modify such Compliance Programs
from time to time, as may be necessary to ensure continuing compliance with all applicable Health Care Laws.

 

5.19          Minimum
Earnout Escrow Account Balance. During the period commencing on the Closing Date and ending on the date on which the Earnout Payment
is released from the Earnout Escrow Account in accordance with the terms of the Escrow Agreement and the Closing Date Acquisition Agreement
(such date, the “Earnout Payment Date”), the Borrower shall maintain (or cause to be maintained) at all time a cash
balance standing to the credit of the Earnout Escrow Account of at least $5,000,000.

 

5.20          Minimum
Blocked Account Balance. On the Earnout Payment Date, the Borrower shall, immediately following the release of the Earnout
Payment from the Earnout Escrow Account (in accordance with the terms of the Escrow Agreement and the Closing Date Acquisition
Agreement), (a) transfer (or cause to be transferred), from the Earnout Escrow Account, immediately available funds in an
amount equal to the lesser of (x) $5,000,000 and (y) all of the funds remaining in the Earnout Escrow Account after the
making of the Earnout Payment, to a Controlled Account that has been designated for such purpose by the Administrative Agent and
that is then subject to a blocked account control agreement in favor of the Collateral Agent, which provides the Collateral Agent
with sole dominion and control over such Controlled Account (the “Blocked Account”); and (b) if the amount
of funds transferred into the Blocked Account pursuant to the preceding clause (a) is less than $5,000,000, transfer into the
Blocked Account additional immediately available funds such that after giving effect to both such transfers, there is $5,000,000 in
immediately available funds on deposit in the Blocked Account, provided, that any such additional funds transferred pursuant to this
clause (b) shall be the proceeds of capital contributions to, or the issuance of Capital Stock by, Holding (made on or prior to
the Earnout Payment Date), which funds may, at the election of Holdings, (i) be contributed directly into the Blocked Account,
(ii) be received by Holdings and then transferred by Holdings into the Blocked Account, or (iii) be received by Holdings
and then contributed by Holdings to the Borrower and transferred into the Blocked Account by the Borrower; provided, that
notwithstanding the foregoing, if a Blocked Account Release Condition shall have been satisfied prior to the Earnout Payment Date
and shall remain satisfied as of the Earnout Payment Date, then the Borrower shall not be required to transfer (or cause the
transfer of) any funds into the Blocked Account, and any funds remaining on deposit in the Earnout Escrow Account shall be released
as provided for remaining funds in the following sentence. It is agreed by each of the parties hereto that if, immediately following
the Earnout Payment Date, (I) any funds remain on deposit in the Earnout Escrow Account after the making of the Earnout Payment
and the transfer of funds described in clause (a) of the preceding sentence, and (II) there is at least $5,000,000 in
immediately available funds on deposit in the Blocked Account, then any funds remaining on deposit in the Earnout Escrow Account
shall be released from the Earnout Escrow Account and may be paid to Sponsor GP as a permitted Restricted Junior Payment, or
otherwise applied in any manner that the Borrower shall elect that is not in violation of the terms of this Agreement or any other
Credit Document. It is further agreed by each of the parties hereto that, upon the satisfaction of either of the Blocked Account
Release Conditions, the Collateral Agent shall arrange for the prompt termination of the blocked account control agreement governing
the Blocked Account, and all funds remaining on deposit in the Blocked Account shall be transferred as directed in writing by the
Borrower, and any such funds may be paid to Sponsor GP as a permitted Restricted Junior Payment and/or otherwise applied by the
Borrower in any manner that it shall elect that is not in violation of the terms of this Agreement or any other Credit Document.

 

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5.21          Post-Closing
Matters. The Credit Parties shall deliver, or cause to be delivered, to Administrative Agent, or otherwise complete to Administrative
Agent’s reasonable satisfaction, the items set forth on Schedule 5.21 on or before the date specified for such item or such
later date agreed to in writing by Administrative Agent in its sole discretion.

 

SECTION 6.          NEGATIVE
COVENANTS

 

Each Credit Party covenants
and agrees that so long as any Commitment is in effect and until payment in full of all Obligations (other than contingent indemnification
obligations to the extent no claim giving rise thereto has been asserted), such Credit Party shall perform, and, where applicable, shall
cause each of its Subsidiaries to perform, all covenants in this Section 6.

 

6.1          Indebtedness.
No Credit Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, create, incur, assume or guaranty, or otherwise
become or remain directly or indirectly liable with respect to any Indebtedness, except:

 

(a)          the
Obligations;

 

(b)          (i) Indebtedness
of any Guarantor Subsidiary to Borrower or to any other Guarantor Subsidiary, or of Borrower to any Guarantor Subsidiary; provided,
(x) all such Indebtedness shall be evidenced by promissory notes and all such notes shall be subject to a First Priority Lien in
favor of Collateral Agent (y) all such Indebtedness shall be unsecured and subordinated in right of payment to the payment in full
of the Obligations pursuant to the terms of the applicable promissory notes or an intercompany subordination agreement that in any such
case, is reasonably satisfactory to Administrative Agent, (ii) Indebtedness of any Subsidiary of Holdings that is not a Credit Party
to any other Subsidiary of Holdings that is not a Credit Party and (iii) Indebtedness of any Subsidiary of Holdings that is not a
Credit Party to any Credit Party in an aggregate amount not to exceed $250,000 at any time outstanding;

 

(c)          Indebtedness
incurred by Holdings or any of its Subsidiaries arising from agreements providing for indemnification, or from guaranties or letters of
credit, bank guaranties, surety bonds or performance bonds securing the performance of Holdings or any such Subsidiary pursuant to such
agreements, in connection with Permitted Acquisitions or dispositions of any business, assets or Subsidiary of Holdings or any of its
Subsidiaries expressly permitted under this Agreement;

 

(d)          Indebtedness
which may be deemed to exist pursuant to any guaranties, performance, surety, statutory, appeal or similar bond obligations incurred in
the ordinary course of business in an aggregate outstanding amount not to exceed $250,000 at any time;

 

(e)          Indebtedness
in respect of netting services, overdraft protections and otherwise in connection with deposit accounts in the ordinary course of business
in an aggregate outstanding amount not to exceed $250,000 at any time;

 

(f)          Guarantees
by Borrower of Indebtedness of a Guarantor Subsidiary or Guarantees by a Subsidiary of Borrower of Indebtedness of Borrower or a Guarantor
Subsidiary with respect, in each case, to Indebtedness otherwise permitted to be incurred pursuant to this Section 6.1;

 

(g)          Indebtedness
in existence on the Closing Date and described in Schedule 6.1, but not any extensions, renewals or replacements of such
Indebtedness except (i) renewals and extensions expressly provided for in the agreements evidencing any such Indebtedness as
the same are in effect on the date of this Agreement, and (ii) refinancings and extensions of any such Indebtedness if the
terms and conditions thereof are not less favorable to the obligor thereon or to the Lenders than the Indebtedness being refinanced
or extended, and the average life to maturity thereof is greater than or equal to that of the Indebtedness being refinanced or
extended; provided, such Indebtedness permitted under the immediately preceding clause (i) or (ii) above shall not
(A) include Indebtedness of an obligor that was not an obligor with respect to the Indebtedness being extended, renewed or
refinanced, (B) exceed in a principal amount the Indebtedness being renewed, extended or refinanced, or (C) be incurred,
created or assumed if any Default or Event of Default has occurred and is continuing or would result therefrom;

 

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(h)             Indebtedness
in an aggregate outstanding principal (or with respect to Capital Leases, the principal component thereof) amount not to exceed at any
time $500,000 with respect to (x) Capital Leases and (y) purchase money Indebtedness; provided, in the case of clause
(x), that any such Indebtedness shall be secured only by the asset subject to such Capital Lease, and, in the case of clause (y), that
any such Indebtedness shall (i) be secured only by the asset acquired in connection with the incurrence of such Indebtedness and
(ii) constitute not less than 100% of the aggregate consideration paid with respect to such asset;

 

(i)              obligations
in respect of workers compensation claims, health, disability or other employee benefits, unemployment insurance and other social security
laws or regulations or property, casualty or liability insurance and premiums related thereto, self-insurance obligations, in each case
in the ordinary course of business;

 

(j)              to
the extent constituting Indebtedness, (i) unfunded pension liabilities and other employee benefit plan obligations and liabilities
to the extent they are permitted to remain unfunded under applicable law and (ii) to the extent constituting Indebtedness, deferred
compensation or similar arrangements entered into by Holdings or any of its Subsidiaries in the ordinary course of business and payable
to future, present or former directors, officers, employees, members of management or consultants of Holdings or any of its Subsidiaries;

 

(k)             Indebtedness
(including obligations in respect of letters of credit, bank guarantees, bankers' acceptances, surety bonds, performance bonds or similar
instruments with respect to such Indebtedness) incurred in respect of workers compensation claims, unemployment, property, casualty or
liability insurance (including premiums related thereto) or self-insurance, other reimbursement-type obligations regarding workers compensation
claims, other types of social security, pension obligations, vacation pay, or health, disability or other employee benefits;

 

(l)              Indebtedness
consisting of the financing of insurance premiums in the ordinary course of business;

 

(m)            Indebtedness
in an aggregate outstanding amount not to exceed $750,000 at any time consisting of obligations owing under any dealer, customer or supplier
incentive, supply, license or similar agreements entered into in the ordinary course of business;

 

(n)             customer
deposits and advance payments received in the ordinary course of business from customers for goods and services purchased in the ordinary
course of business;

 

(o)             Indebtedness
in an aggregate outstanding amount not to exceed $750,000 at any time in respect of commercial credit cards, stored value cards, employee
credit cards, purchasing cards and treasury management services and other netting services, overdraft protections, check drawing services,
automated clearing-house arrangements, employee credit card programs, automated payment services (including depository, overdraft, controlled
disbursement, ACH transactions, return items and interstate depository network services), Society for Worldwide Interbank Financial Telecommunication
transfers, cash pooling and operational foreign exchange management, and, in each case, including Banking Services and similar arrangements and otherwise in connection
with cash management, including cash management arrangements among Holdings, and its Subsidiaries, and Deposit Accounts and incentive,
supplier finance or similar programs, in each case, in the ordinary course of business;

 

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(p)            Indebtedness
of Holdings or any of its Subsidiaries under any Hedging Transaction entered into in the ordinary course of business and not entered into
for speculative purposes; and

 

(q)            other
Indebtedness of Holdings and its Subsidiaries other than the types listed in Section 6.1(a) through (p), which
is unsecured and subordinated to the Obligations in a manner reasonably satisfactory to Administrative Agent, in an aggregate amount not
to exceed $500,000 at any time outstanding.

 

6.2           Liens.
No Credit Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, create, incur, assume or permit to exist
any Lien on or with respect to any property or asset of any kind (including any document or instrument in respect of goods or accounts
receivable) of Holdings or any of its Subsidiaries, whether now owned or hereafter acquired, or any income or profits therefrom, or file
or permit the filing of, or permit to remain in effect, any financing statement or other similar notice of any Lien with respect to any
such property, asset, income or profits under the UCC of any state, or under any similar recording or notice statute, except the following
(collectively, the “Permitted Liens”):

 

(a)             Liens
in favor of Collateral Agent for the benefit of Secured Parties granted pursuant to any Credit Document;

 

(b)             Liens
for Taxes if obligations with respect to such Taxes are (i) not yet due or (ii) being contested in good faith by appropriate
proceedings promptly instituted and diligently conducted so long as (x) Holdings and any applicable Subsidiary has set aside on its
books adequate reserves with respect thereto in accordance with GAAP, (y) no notice of Lien or similar filing has been made with
respect to such Taxes and such proceedings (or orders entered in connection with such proceedings) have the effect of preventing the forfeiture
or sale of property subject to any such Lien and (z) the aggregate amount of such Taxes does not exceed $500,000;

 

(c)             statutory
Liens of landlords, banks, carriers, warehousemen, mechanics, repairmen, workmen and materialmen, and other Liens imposed by law (other
than any such Lien imposed pursuant to Section 401 (a)(29) or 412(n) of the Internal Revenue Code or by ERISA), in each case,
incurred in the ordinary course of business (i) for amounts not yet overdue, or (ii) for amounts that are overdue and that (in
the case of any such amounts overdue for a period in excess of 10 days) are being contested in good faith by appropriate proceedings,
so long as such reserves or other appropriate provisions, if any, as shall be required by GAAP shall have been made for any such contested
amounts;

 

(d)             Liens
consisting of survey exceptions, easements, rights-of-way, restrictions, covenants, conditions, declarations, encroachments, zoning restrictions
and other defects or irregularities in title, or environmental deed restrictions, in each case which do not, in the aggregate, materially
interfere with the ordinary conduct of the business of Holdings and its Subsidiaries, taken as a whole;

 

(e)             Liens
incurred in the ordinary course of business in connection with workers’ compensation, unemployment insurance and other types of
social security, or to secure the performance of tenders, statutory obligations, surety and appeal bonds, bids, leases, government contracts,
trade contracts, performance and return-of-money bonds and other similar obligations (exclusive of obligations for the payment of borrowed
money or other Indebtedness), so long as no foreclosure, sale or similar proceedings have been commenced with respect to any portion of
the Collateral on account thereof;

 

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(f)              (i) Liens
in connection with any zoning, building, environmental or similar Requirement of Law or right reserved to or vested in any Governmental
Authority to control or regulate the use of any or dimensions of real property or the structure thereon, including Liens in connection
with any condemnation, expropriation or eminent domain proceeding or compulsory purchase order and (ii) security given to a public
utility or any municipality or governmental authority when required by such utility or authority in connection with the operations of
such Person in the ordinary course of business;

 

(g)             easements,
rights-of-way, restrictions, encroachments, and other minor defects or irregularities in title, in each case which do not and will not
interfere in any material respect with the ordinary conduct of the business of Holdings or any of its Subsidiaries;

 

(h)             (i) any
interest or title of a lessor or sublessor under any lease of real estate permitted hereunder, (ii) landlord lien permitted by the
terms of any lease, (iii) restriction or encumbrance to which the interest or title of such lessor or sub-lessor may be subject or
(iv) subordination of the interest of the lessee or sub-lessee under such lease to any restriction or encumbrance referred to in
the preceding clause (iii);

 

(i)              Liens
solely on any Cash earnest money deposits made by Holdings or any of its Subsidiaries in connection with any letter of intent or purchase
agreement for an acquisition, Investment or disposition permitted under this Agreement;

 

(j)              purported
(i) Liens evidenced by the filing of precautionary UCC financing statements relating solely to operating leases of personal property
or bailee arrangements entered into in the ordinary course of business, and (ii) Liens consisting of the prior rights of consignees
and their lenders under consignment arrangements, in each case entered into in the ordinary course of business;

 

(k)             Liens
in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection with the importation
of goods;

 

(l)              any
zoning or similar law or right reserved to or vested in any governmental office or agency to control or regulate the use of any real property;

 

(m)            licenses
of, or other permissions to use, Intellectual Property rights granted by Holdings or any of its Subsidiaries in the ordinary course
of business or that do not, individually or in the aggregate, interfere in any respect with the ordinary conduct of the business of Holdings
or such Subsidiary;

 

(n)             Liens
in existence on the Closing Date and described in Schedule 6.2 and any modifications, replacements, refinancings, renewals or extensions
of the foregoing; provided, (i) the Lien does not extend to any additional property other than after-acquired property that is affixed
or incorporated into the property covered by such Lien or financed by Indebtedness permitted under Section 6.1 and proceeds
and products thereof and (ii) the replacement, renewal, extension or refinancing of the obligations secured or benefited by such
Liens, to the extent constituting Indebtedness, is permitted by Section 6.1;

 

(o)             [reserved];

 

(p)             [reserved];

 

(q)             Liens
disclosed in the title insurance policies delivered pursuant to Section 5.11 with respect to any Material Real Estate Asset
and reasonably acceptable to Administrative Agent and any replacement, extension or renewal of any such Lien; provided that no
such replacement, extension or renewal Lien shall cover any property other than the property that
was subject to such Lien prior to such replacement, extension or renewal (and additions thereto, improvements thereon and the proceeds
thereof);

 

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(r)              Liens
securing obligations in respect letters of credit, bank guaranties, surety bonds, performance bonds or similar instruments permitted under
Sections 6.1(d) and (l);

 

(s)             Liens
arising (i) out of conditional sale, title retention, consignment or similar arrangements for the sale of any assets or property
in the ordinary course of business and permitted by this Agreement or (ii) by operation of law under Article 2 of the UCC (or
similar requirement of law under any jurisdiction);

 

(t)              Liens
on insurance policies and the proceeds thereof securing the financing of the premiums with respect thereto permitted under Section 6.1(l);

 

(u)            (i) receipt
of progress payments and advances from customers in the ordinary course of business to the extent the same creates a Lien on the
related inventory and proceeds thereof and (ii) Liens on specific items of inventory or other goods and the proceeds thereof
securing such Person's obligations in respect of commercial letters of credit or banker's acceptances issued or created for the
account of such Person to facilitate the purchase, shipment or storage of such inventory or goods;

 

(v)            ground
leases in respect of real property on which facilities owned or leased by Holdings or any of its Subsidiaries are located;

 

(w)            Liens
(i) securing (A) obligations in connection with any Hedging Transactions of the type described in Section 6.1(p) and
(B) obligations of the type described in Section 6.1(o) and (ii) on Cash or cash equivalents securing obligations
described in the foregoing clause (A) in the ordinary course of business submitted for clearing in accordance with applicable requirements
of law and that are not entered into for speculative purposes;

 

(x)             Customary
Bankers Liens arising as a matter of law in the ordinary course of business;

 

(y)             Liens
of a collection bank arising in the ordinary course of business under Section 4-210 of the Uniform Commercial Code in effect in the
relevant jurisdiction covering only the items being collected upon;

 

(z)             Liens
securing Indebtedness permitted pursuant to Section 6.1(h); provided, any such Lien shall encumber only the asset acquired
with the proceeds of such Indebtedness; and

 

(aa) Liens securing Indebtedness
in an aggregate principal amount at any time outstanding not to exceed $750,000.

 

6.3            Equitable
Lien. If any Credit Party or any of its Subsidiaries shall create or assume any Lien upon any of its properties or assets, whether
now owned or hereafter acquired, other than Permitted Liens, it shall make or cause to be made effective provisions whereby the Obligations
will be secured by such Lien equally and ratably with any and all other Indebtedness secured thereby as long as any such Indebtedness
shall be so secured; provided, notwithstanding the foregoing, this covenant shall not be construed as a consent by Requisite Lenders
to the creation or assumption of any such Lien not otherwise permitted hereby.

 

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6.4           No
Further Negative Pledges. No Credit Party nor any of its Subsidiaries shall enter into any agreement prohibiting the creation or assumption
of any Lien upon any of its properties or assets, whether now owned or hereafter acquired, except for any restriction that:

 

(a)             relates
to specific property encumbered to secure payment of particular Indebtedness or to be sold pursuant to an executed agreement with respect
to a permitted Asset Sale;

 

(b)             is
a customary provision restricting assignments, subletting or other transfers contained in leases, licenses and similar provisions in connection
with agreements entered into in the ordinary course of business (provided that such restrictions are limited to the property or
assets secured by such Liens or the property or assets subject to such leases, licenses or similar agreements, as the case may be); or

 

(c)             exists
under this Agreement, any other Credit Document, any Interest Rate Agreement or any Currency Agreement;

 

(d)             restrictions
contained in documents governing Indebtedness and Liens on Capital Stock permitted hereunder of any Subsidiary that is not a Credit Party;

 

(e)             restrictions
imposed by customary provisions in partnership agreements, limited liability company organizational governance documents, joint venture
agreements and other similar agreements that restrict the transfer of the assets of, or ownership interests in, such partnership, limited
liability company, joint venture or similar Person;

 

(f)             any
encumbrance or restriction assumed in connection with an acquisition of property or the Capital Stock of any Person, so long as such encumbrance
or restriction relates solely to the property so acquired (or to the Person or Persons (and its or their subsidiaries) bound thereby)
and was not created in connection with or in contemplation of such acquisition;

 

(g)             Permitted
Liens and restrictions in the agreements relating thereto that limit the right of Holdings or any of its Subsidiaries to dispose of, or
encumber the assets subject to such Liens; and

 

(h)             restrictions
contained in any agreement with respect to Indebtedness permitted by Section 6.1 that is secured by a Permitted Lien, but
only if such restrictions apply only to the Person or Persons obligated under such Indebtedness and its or their Subsidiaries or the property
or assets securing such Indebtedness.

 

6.5           Restricted
Junior Payments. No Credit Party shall, nor shall it permit any of its Subsidiaries through any manner or means or through any other
Person to, directly or indirectly, declare, order, pay, make or set apart, or agree to declare, order, pay, make or set apart, any sum
for any Restricted Junior Payment; except that, so long as no Default or Event of Default shall have occurred and be continuing or shall
be caused thereby:

 

(a)            Borrower
may make Restricted Junior Payments to Holdings in an aggregate amount (disregarding, for this purpose, the amount paid to Holdings to
permit Holdings to pay any Permitted Tax Distributions) not to exceed $250,000 in any trailing 12-month period, to the extent necessary
to permit Holdings to pay general administrative costs and expenses that are payable in the ordinary course of business;

 

(b)            each
Domestic Subsidiary of a Domestic Credit Party may make Restricted Junior Payments to such Domestic Credit Party;

 

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(c)            each
Foreign Credit Party may make Restricted Junior Payments to any other Subsidiary of Holdings that is a Credit Party;

 

(d)            each
Foreign Subsidiary that is not a Foreign Credit Party may make Restricted Junior Payments to any Subsidiary of Holdings;

 

(e)            except
as provided in Section 6.5(f), Holdings may pay dividends solely in Capital Stock of Holdings;

 

(f)             Holdings
shall be permitted to pay Permitted Tax Distributions to its members, and Borrower may make Restricted Junior Payments to Holdings in
order to permit Holdings to pay any Permitted Tax Distributions;

 

(g)            if
Borrower makes a mandatory prepayment pursuant to Section 2.14(e), Borrower may pay a dividend to Holdings (and Holdings may
then make a dividend to its shareholders) concurrently with the making of such mandatory prepayment in an aggregate amount (disregarding,
for this purpose, any dividends paid to Holdings to permit Holdings to pay any Permitted Tax Distributions) not to exceed (a) if
the Total Leverage Ratio as of the last day of such Fiscal Year is greater than or equal to 4.50:1.00, 25% of such Consolidated Excess
Cash Flow, (b) if the Total Leverage Ratio as of the last day of such Fiscal Year is less than 4.50:1.00 but greater than or equal
to 3.50:1.00, 50% of such Consolidated Excess Cash Flow or (c) if the Total Leverage Ratio as of the last day of such Fiscal Year
is less than 3.50:1.00, 75% of such Consolidated Excess Cash Flow; and

 

(h)            the
Borrower (or other applicable Credit Party) shall be permitted to make Restricted Junior Payments (i) constituting the Earnout Payment
(in accordance with the Closing Date Acquisition Agreement), (ii) constituting the transfer of funds into the Blocked Account required
pursuant to Section 5.20, and (iii) in accordance with Section 5.20, to Sponsor GP from any funds (A) remaining
in the Earnout Escrow Account following the funding in full of the Blocked Account, (B) remaining on deposit in the Earnout Escrow
Account following the making of the Earnout Payment if any Blocked Account Release Condition is then satisfied, or (C) remaining
on deposit in the Blocked Account at any time following the satisfaction of any Blocked Account Release Condition.

 

6.6           Restrictions
on Subsidiary Distributions. No Credit Party shall, nor shall it permit any of its Subsidiaries to, create or otherwise cause or suffer
to exist or become effective any consensual encumbrance or restriction of any kind on the ability of any Subsidiary of such Credit Party
to (a) pay dividends or make any other distributions on any of such Subsidiary’s Capital Stock owned by such Credit Party or
any other Subsidiary of such Credit Party, (b) repay or prepay any Indebtedness owed by such Subsidiary to such Credit Party or any
other Subsidiary of such Credit Party, (c) make loans or advances to such Credit Party or any other Subsidiary of such Credit Party,
or (d) transfer any of its property or assets to such Credit Party or any other Subsidiary of such Credit Party other than restrictions
(i) in agreements evidencing Indebtedness permitted by Section 6.1(h) that impose restrictions on the property so
acquired,

 

(ii) by reason of customary provisions restricting
assignments, subletting or other transfers contained in leases, licenses, joint venture agreements and similar agreements entered into
in the ordinary course of business, (iii) that are or were created by virtue of any transfer of, agreement to transfer or option
or right with respect to any property, assets or Capital Stock not otherwise prohibited under this Agreement or (iv) that are imposed
by law or by this Agreement or any other Credit Document.

 

6.7           Investments.
No Credit Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, make or own any Investment in any Person,
including any Joint Venture and any Foreign Subsidiary, except:

 

(a)             Investments
in Cash and Cash Equivalents, in each case, to the extent maintained in a Controlled Account;

 

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 (b)             equity Investments owned as of the Closing Date in any Subsidiary;

 

(c)             Investments
made after the Closing Date by a Domestic Credit Party in any of its wholly owned Domestic Subsidiaries that are Guarantors or in Borrower;

 

(d)             Investments
made after the Closing Date by any Foreign Credit Party in any other Foreign Credit Party;

 

(e)             Investments
(i) in any Securities received in satisfaction or partial satisfaction thereof from financially troubled account debtors, and (ii) consisting
of deposits, prepayments and other credits to suppliers made in the ordinary course of business consistent with the past practices of
Holdings and its Subsidiaries;

 

(f)             (i) intercompany
loans to the extent permitted under Section 6.1(b) and (ii) Guarantees to the extent permitted under Section 6.1(g);

 

(g)            Guarantees
in the ordinary course of business of the obligations of suppliers, customers, franchisees and licensees of Holdings and its
Subsidiaries;

 

 (h)            Consolidated Capital Expenditures;

 

(i)              loans
and advances to employees of Holdings and its Subsidiaries made in the ordinary course of business in an aggregate amount not to exceed
$250,000 at any time;

 

 (j)              Investments described in Schedule 6.7;

 

(k)             Permitted
Acquisitions permitted under Section 6.9(s);

 

(l)              Investments
received in lieu of Cash in connection with any disposition permitted by Section 6.9;

 

(m)            (i) unfunded
pension fund and other employee benefit plan obligations and liabilities to the extent that the same are permitted to remain unfunded
under applicable law and (ii) Investments made in connection with the funding of contributions under any non-qualified retirement
plan or similar employee compensation plan in an amount not to exceed the amount of compensation expense recognized by Holdings and its
Subsidiaries in connection with such plans;

 

(n)             Investments under any Hedging Transactions
permitted to be entered into under Section 6.1;

 

(o)            Guarantees
of leases (other than Capital Leases) or of other obligations not constituting Indebtedness in the ordinary course of business;

 

 (p)            the Closing Date Acquisition;

 

(q)            (i) Investments
of any Subsidiary acquired after the Closing Date, or of any Person acquired by, or merged into or consolidated or amalgamated with, Holdings
or any of its Subsidiaries after the Closing Date, in each case pursuant to an Investment otherwise permitted by this Section 6.7
to the extent that such Investments of such Person were not made in contemplation of or in connection with such acquisition, merger, amalgamation or consolidation
and were in existence on the date of such acquisition, merger, amalgamation or consolidation and (ii) any modification, replacement,
renewal or extension of any Investment permitted under clause (i) of this Section 6.7(q) so long as any such
modification, replacement, renewal or extension thereof does not increase the amount of such Investment except as otherwise permitted
by this Section 6.7;

 

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(r)              Investments
in the ordinary course of business consisting of endorsements for collection or deposit and customary trade arrangements with customers;

 

(s)             Investments
(including debt obligations and Capital Stock) received (i) in connection with the bankruptcy or reorganization of any Person, (ii) in
settlement of delinquent obligations of, or other disputes with, customers, suppliers and other account debtors arising in the ordinary
course of business, (iii) upon foreclosure with respect to any secured Investment or other transfer of title with respect to any
secured Investment and/or (iv) as a result of the settlement, compromise, resolution of litigation, arbitration or other disputes;

 

(t)             Investments
consisting of extensions of credit in the nature of accounts receivable or notes receivable arising from the grant of trade credit in
the ordinary course of business; and

 

(u)            Investments in an aggregate principal amount
not to exceed $250,000 in any Fiscal Year.

 

Notwithstanding the foregoing,
in no event shall any Credit Party or any of its Subsidiaries make any Investment which results in or facilitates in any manner any Restricted
Junior Payment not otherwise permitted under the terms of Section 6.5.

 

6.8            Financial
Covenants.

 

(a)            Fixed
Charge Coverage Ratio. The Fixed Charge Coverage Ratio as of the last day of any Fiscal Quarter, beginning with the Fiscal Quarter
ending December 31, 2021, shall not be less than the correlative ratio indicated:

 

	Fiscal Quarter	 	 	Fixed Charge

                                                                                Coverage Ratio
	 
	December 31, 2021	 	 	1.10:1.00	 
	March 31, 2022	 	 	1.10:1.00	 
	June 30, 2022	 	 	1.10:1.00	 
	September 30, 2022	 	 	1.15:1.00	 
	December 31, 2022	 	 	1.15:1.00	 
	March 31, 2023	 	 	1.15:1.00	 
	June 30, 2023	 	 	1.15:1.00	 
	September 30, 2023 and each Fiscal Quarter ending thereafter	 	 	1.20:1.00	 

 

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(b)            Leverage
Ratio. The Total Leverage Ratio as of the last day of any Fiscal Quarter, beginning with the Fiscal Quarter ending December 31,
2021, shall not exceed the correlative ratio indicated:

 

	Fiscal Quarter	 	 	Total Leverage

                                                                                Ratio
	 
	December 31, 2021	 	 	5.00:1.00	 
	March 31, 2022	 	 	4.75:1.00	 
	June 30, 2022	 	 	4.75:1.00	 
	September 30, 2022	 	 	4.75:1.00	 
	December 31, 2022	 	 	4.50:1.00	 
	March 31, 2023	 	 	4.50:1.00	 
	June 30, 2023	 	 	4.00:1.00	 
	September 30, 2023	 	 	3.75:1.00	 
	December 31, 2023	 	 	3.75:1.00	 
	March 31, 2024	 	 	3.50:1.00	 
	June 30, 2024	 	 	3.50:1.00	 
	September 30, 2024 and each Fiscal Quarter ending thereafter	 	 	3.25:1.00	 

 

(c)             Certain
Calculations. With respect to any period during which a Permitted Acquisition or an Asset Sale has occurred (each, a “Subject
Transaction”), for purposes of determining compliance with the financial covenants set forth in this Section 6.8
(but not for purposes of determining the Applicable Margin), Consolidated Adjusted EBITDA and the components of Consolidated Fixed Charges
shall be calculated with respect to such period on a pro forma basis (including pro forma adjustments approved by the Administrative Agent
in its sole discretion) using the historical audited financial statements of any business so acquired or to be acquired or sold or to
be sold and the consolidated financial statements of Holdings and its Subsidiaries which shall be reformulated as if such Subject Transaction,
and any Indebtedness incurred or repaid in connection therewith, had been consummated or incurred or repaid at the beginning of such period
(and assuming that such Indebtedness bears interest during any portion of the applicable measurement period prior to the relevant acquisition
at the weighted average of the interest rates applicable to such Indebtedness during such period).

 

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(d)            Equity
Cure. Subject to the limitations set forth in the last sentence of this paragraph (d), for purposes of calculating compliance
with the financial covenants set forth in Section 6.8(a) or (b) above, the Cash proceeds from any
Equity Cure Investments received by Borrower after the end of the applicable Fiscal Quarter and on or prior to the Anticipated Cure
Deadline (as defined below) shall, at the prompt written request of Borrower to Administrative Agent, be included in the calculation
of Consolidated Adjusted EBITDA for such Fiscal Quarter solely for the purpose of determining compliance with the covenants set
forth in this Section 6.8 and not for any other purpose; provided that (i) the financial statements and the
corresponding Compliance Certificate shall be delivered on or before the date on which financial statements for the period ending as
of the end of such Fiscal Quarter are required to be delivered pursuant to Section 5.1(b) for the Fiscal Quarter
ending on the last day of such period (such date, the “Financial
Statement Delivery Date”), (ii) any such Equity Cure Investments shall be in common equity or otherwise on terms acceptable
to Administrative Agent, (iii) Borrower shall provide Administrative Agent with written notice of its intent to provide such Equity
Cure Investments, (iv) the amount of any such Equity Cure Investments shall be no less than the amount required to cause Borrower
to be in compliance with the covenants set forth in Section 6.8(a) or (b), as the case may be, (v) (A) any
proceeds of such Equity Cure Investments shall be obtained by Borrower after the end of any period for which the financial covenants set
forth in Section 6.8(a) or (b), as the case may be, are being calculated but on or prior to the date which is
10 Business Days after the date on which financial statements are required to be delivered pursuant to Section 5.1(b) for
the Fiscal Quarter ending on the last day of such period (the “Anticipated Cure Deadline”), (B) such Equity Cure
Investments so obtained shall be included in the calculation of the financial covenants set forth Section 6.8(a) or (b) for
such period in accordance with Section 6.8(a) or (b), (C) such Equity Cure Investments shall be
deemed (for purposes of calculating such financial covenants pursuant to Section 6.8(a) or (b) for such period
and for future periods) to have been made during the Fiscal Quarter immediately preceding the date on which such Equity Cure Investments
were actually made, (D) the financial covenants set forth in Section 6.8(a) or (b) shall be recalculated
for such period and shall be so calculated for any subsequent period that includes the Fiscal Quarter in respect of which the Equity Cure
Investment was made, (E) if, after giving effect to the foregoing calculations, Borrower is in compliance with the requirements of
the financial covenants set forth in Section 6.8(a) or (b), then Borrower shall be deemed to have satisfied such
financial covenants set forth in Section 6.8(a) and (b) as of the relevant date of determination and (F) the
proceeds of such Equity Cure Investment shall be applied as a mandatory prepayment of the Obligations in accordance with Section 2.14(c),
and (vi) neither the Administrative Agent nor any Lender may exercise any rights or remedies on the basis of any actual or purported
Event of Default resulting solely from a failure to comply with the financial covenants set forth in Section 6.8(a) or (b),
or a failure to provide notice thereof, until the Anticipated Cure Deadline. For the avoidance of doubt, Equity Cure Investments shall
be disregarded for purposes of determining Consolidated Adjusted EBITDA for any financial covenant-based condition or any baskets with
respect to the covenants contained in this Agreement, and there shall be no pro forma or other reduction in Indebtedness (via cash netting
or otherwise) with the proceeds of any Equity Cure Investment for purposes of determining compliance with the financial covenants set
forth in Section 6.8(a) or (b), or for determining any financial covenant-based conditions or baskets with respect
to the covenants contained in this Agreement, in each case, in the Fiscal Quarter in which such Equity Cure Investment is used (but the
limitation set forth in this sentence will not apply in subsequent quarters). Regardless of whether an Equity Cure Investment is made
prior to the applicable Financial Statement Delivery Date, any amount of Equity Cure Investment that is in excess of the amount sufficient
to cause compliance with the covenant set forth in Section 6.8(a) or (b), as the case may be, shall not constitute
an Equity Cure Investment. Notwithstanding the foregoing, in no event shall Borrower receive more than four (4) Equity Cure Investments
during the term of this Agreement, and no Equity Cure Investments may be made in any two consecutive Fiscal Quarters.

 

 

6.9            Fundamental
Changes; Disposition of Assets; Acquisitions. No Credit Party shall, nor shall it permit any of its Subsidiaries to, enter into any
transaction of merger or consolidation, or liquidate, wind-up or dissolve itself (or suffer any liquidation or dissolution), or convey,
sell, lease or sub-lease (as lessor or sublessor), exchange, transfer or otherwise dispose of, in one transaction or a series of transactions,
all or any part of its business, assets or property of any kind whatsoever, whether real, personal or mixed and whether tangible or intangible,
whether now owned or hereafter acquired, or acquire by purchase or otherwise (other than purchases or other acquisitions of inventory,
materials and equipment and capital expenditures in the ordinary course of business) the business, property or fixed assets of, or stock
or other evidence of beneficial ownership of, any Person or any division or line of business or other business unit of any Person, except:

 

(a)            any
Domestic Subsidiary of Holdings may be merged with or into Borrower or any Domestic Credit Party, or be liquidated, wound up or
dissolved, or all or any part of its business, property or assets may be conveyed, sold, leased, transferred or otherwise disposed
of, in one transaction or a series of transactions, to Borrower or any Domestic Credit Party; provided, in the case of such a
merger, Borrower or such Domestic Credit Party, as applicable shall be the continuing or surviving Person;

 

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(b)            any
Foreign Subsidiary of Borrower may be merged with or into Borrower or any Foreign Credit Party, or be liquidated, wound up or dissolved,
or all or any part of its business, property or assets may be conveyed, sold, leased, transferred or otherwise disposed of, in one transaction
or a series of transactions, to Borrower or any Foreign Credit Party; provided, in the case of such a merger, Borrower or such
Foreign Credit Party, as applicable shall be the continuing or surviving Person;

 

 (c)             sales or other dispositions of assets that do not constitute Asset Sales;

 

(d)            Asset
Sales, the proceeds of which (i) are less than $250,000 with respect to any single Asset Sale or series of related Asset Sales, and
(ii) when aggregated with the proceeds of all other Asset Sales made within the trailing twelve month period, are less than $500,000;
provided (1) the consideration received for such assets shall be in an amount at least equal to the fair market value thereof
(determined in good faith by the board of directors of Borrower (or similar governing body)), (2) no less than 100% thereof shall
be paid in Cash, and (3) the Net Asset Sale Proceeds thereof shall be applied as required by Section 2.14(a);

 

 (e)             disposals of obsolete or worn out property in the ordinary course of business;

 

 (f)              Investments made in accordance with Section 6.7;

 

(g)             dispositions
among Holdings and its Subsidiaries (upon voluntary liquidation or otherwise); provided that if the transferor is a Credit Party and the
transferee thereof is not, such disposition shall be deemed to be an Investment required to be permitted under Section 6.7;

 

(h)             dispositions made to comply with any order
of any Governmental Authority or anya pplicable law;

 

(i)              dispositions
of letters of credit and/or bank guarantees (and/or the rights thereunder) to banks or other financial institutions in the ordinary course
of business in exchange for Cash and/or Cash Equivalents;

 

(j)              dispositions
of assets in connection with the closing or sale of an office in the ordinary course of business of Holdings and the Subsidiaries, which
consist of leasehold interests in the premises of such office, the equipment and fixtures located at such premises and the books and records
relating exclusively and directly to the operations of such office; provided that as to each and all such sales and closings, (i) on
the date on which the agreement governing such disposition is executed, no Event of Default shall result and (ii) such sale shall
be on commercially reasonable prices and terms in a bona fide arm's-length transaction;

 

(k)             dispositions
(i) in connection with the termination or unwinding of Hedging Transactions, (ii) constituting payments of Escrow Amounts pursuant
to the Escrow Agreement and the Closing Date Acquisition Agreement, (iii) otherwise permitted under Section 6.5(h) above,
and (iv) of any escrow accounts after all amounts therein have been disbursed in accordance with the Escrow Agreement and the Closing
Date Acquisition Agreement;

 

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(l)              termination
of leases in the ordinary course of business, (ii) the expiration of any option agreement in respect of real or personal
property and (iii) any surrender or waiver of contractual rights or the settlement, release or surrender of contractual rights
or other litigation claims (including in tort) in the ordinary course of business;

 

(m)            dispositions
of property subject to casualty, foreclosure, eminent domain, expropriation or condemnation proceedings (including in lieu thereof or
any similar proceeding);

 

(n)             dispositions
of equipment to the extent that (i) such equipment is exchanged in whole (but not in part) for credit against the purchase price
of similar replacement personal property or (ii) the entire net proceeds of such disposition are promptly applied to the purchase
price of such replacement equipment;

 

(o)             dispositions,
discounting or forgiveness of accounts receivable in the ordinary course of business (including to insurers which have provided insurance
as to the collection thereof) or in connection with the collection or compromise thereof (including sales to factors);

 

(p)             dispositions
and/or terminations of leases, subleases, licenses or sublicenses (including the provision of software under an open source license),
which (i) do not materially interfere with the business of Holdings and its Subsidiaries (taken as a whole) or (ii) relate to
closed facilities or the discontinuation of any product or service line;

 

(q)             dispositions
of Cash Equivalents or other assets that were Cash Equivalents when the original Investment was made (in each case, for the fair market
value thereof);

 

(r)              Disposition
of assets the proceeds of which do not exceed $250,000 in any Fiscal Year (which amount shall exclude any fees, cash payment or other
consideration received by Holdings or any of its Subsidiaries in connection with the early termination or modification of any contract);

 

(s)              Holdings
or any of its Subsidiaries may acquire (whether by purchase, merger or otherwise) all or substantially all the assets of a Person or line
of business or division of such Person, or greater than 50% of the Capital Stock ((x) other than directors' qualifying shares and
(y) including any investment in any Person which serves to increase the ownership of Holdings or any of its Subsidiaries in such
Person) of a Person (referred to herein as the "Acquired Entity", and each such acquisition of assets, line of business
or division or Capital Stock permitted under this clause (s), a “Permitted Acquisition”); provided that:

 

(i)        immediately
prior to, and after giving effect to, such Acquisition, no Default or Event of Default shall have occurred and be continuing or would
result therefrom;

 

(ii)       all
transactions in connection therewith shall be consummated, in all material respects, in accordance with all applicable laws and in conformity
with all applicable Governmental Authorizations;

 

(iii)      in
the case of an Acquisition of Capital Stock, all of the Capital Stock (except for any such Securities in the nature of directors’
qualifying shares required pursuant to applicable law) acquired or otherwise issued by such Person or any newly formed Guarantor Subsidiary
of a Credit Party in connection with such Acquisition shall be owned 100% by the Borrower or a Guarantor Subsidiary thereof, and Borrower
or such Guarantor Subsidiary shall have taken, or caused to be taken, as of the date such Person becomes a Subsidiary of Borrower or such
Guarantor Subsidiary, each of the actions set forth in Sections 5.10 and/or 5.11, as applicable;

 

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(iv)      Holdings
and its Subsidiaries shall be in compliance with the financial covenants set forth in Section 6.8 on a pro forma basis after giving
effect to such acquisition as of the last day of the Fiscal Quarter most recently ended as determined in accordance with Section 6.8(c) (with
such pro forma adjustments as are approved by the Administrative Agent);

 

(v)      Borrower
shall have delivered to the Administrative Agent at least 10 Business Days prior to such proposed Acquisition, a Compliance Certificate
evidencing compliance with Section 6.8 as required under clause (d) above, together with the historical audited financial statements
of the Person or business being acquired (or, in the absence of such historical audited financial statements, such other financial information
as is reasonably acceptable to the Administrative Agent) and all other relevant financial information with respect to such acquired Person
or assets, including, without limitation, the aggregate consideration for such acquisition and any other information required to demonstrate
compliance with Section 6.8;

 

(vi)     any
Person, assets or division as acquired in accordance herewith (i) shall be in same business or lines of business in which Holdings
and/or its Subsidiaries are engaged as of the Closing Date or businesses reasonably ancillary, corollary related or complementary thereto
and (ii) for the four quarter period most recently ended prior to the date of such acquisition, shall have Consolidated Adjusted
EBITDA (as adjusted by pro forma adjustments as are approved by the Administrative Agent in its reasonable discretion) that is not negative;

 

(vii)    the
acquisition shall have been approved by the board of directors or other governing body or controlling Person of the Person acquired or
the Person from whom such assets or division is acquired;

 

(viii)   after
giving effect to such acquisition, (i) the sum of Unrestricted Cash- on-Hand and undrawn Revolving Commitments shall equal or exceed
$4,000,000 and (ii) the sum of all amounts payable in connection with all such acquisitions (including all transaction costs and
all Indebtedness, liabilities, “earn-outs”, holdbacks and contingent obligations incurred or assumed in connection therewith)
shall not exceed $5,000,000 individually or $15,000,000 in the aggregate during the term of this Agreement;

 

(ix)      all
non-Cash consideration payable by any Credit Party in connection with all such acquisitions shall be Subordinated Indebtedness permitted
to be incurred under Section 6.1(q); and

 

(x)       Borrower
delivers to the Administrative Agent a certificate certifying compliance with the conditions in this definition, including calculations
where applicable; and

 

(t)             dispositions
in connection with reorganizations and related activities related to tax planning or in connection with, or preparation for, an initial
public offering; provided that, after giving effect to any such reorganization, restructuring or activity, neither the Guaranty, taken
as a whole, nor the value of the Collateral, taken as a whole, is impaired; provided, further, that the Credit Parties obtain the prior
written consent of the Administrative Agent (not to be unreasonably withheld, conditioned or delayed) prior to making any such dispositions;

 

provided,
however, that notwithstanding anything to the contrary contained herein, in no event shall the preceding clauses (a) through
(r) permit any Credit Party or any Subsidiary of any Credit Party to sell, lease, assign, transfer or otherwise dispose of any Material
Intellectual Property, or any Capital Stock of any Person that owns Material Intellectual Property, in each case, to any Person that is
not a Domestic Credit Party, but excluding for the avoidance of doubt, any non-exclusive
licensing arrangements otherwise expressly permitted by this Agreement.

 

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6.10         Disposal
of Subsidiary Interests. Except for any sale of all of its interests in the Capital Stock of any of its Subsidiaries in compliance
with the provisions of Section 6.9 and the Liens granted to Collateral Agent pursuant to the Credit Documents, no Credit Party
shall, nor shall it permit any of its Subsidiaries to (a) directly or indirectly sell, assign, pledge or otherwise encumber or dispose
of any Capital Stock of any of its Subsidiaries, except to qualify directors if required by applicable law; or (b) permit any of
its Subsidiaries directly or indirectly to sell, assign, pledge or otherwise encumber or dispose of any Capital Stock of any of its Subsidiaries,
except to another Credit Party (subject to the restrictions on such disposition otherwise imposed hereunder) or to qualify directors if
required by applicable law.

 

6.11         Sales
and Lease Backs. No Credit Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, become or remain liable
as lessee or as a guarantor or other surety with respect to any lease of any property (whether real, personal or mixed), whether now owned
or hereafter acquired, which such Credit Party (a) has sold or transferred or is to sell or to transfer to any other Person (other
than Holdings or any of its Subsidiaries), or (b) intends to use for substantially the same purpose as any other property which has
been or is to be sold or transferred by such Credit Party to any Person (other than Holdings or any of its Subsidiaries) in connection
with such lease.

 

6.12         Transactions
with Shareholders and Affiliates. No Credit Party shall, nor shall it permit any of its Subsidiaries to, directly or indirectly, enter
into or permit to exist any transaction (including the purchase, sale, lease or exchange of any property or the rendering of any service)
with the Manager or any holder of 10% or more of any class of Capital Stock of Holdings or any of its Subsidiaries (or any Affiliate of
such holder) or with any Affiliate of Holdings or of any such holder; provided, however, that the Credit Parties and their Subsidiaries
may enter into or permit to exist any such transaction if (a) both (i) Administrative Agent has consented thereto in writing
prior to the consummation thereof and (ii) the terms of such transaction are not less favorable to Holdings or that Subsidiary, as
the case may be, than those that might be obtained at the time from a Person who is not such a holder or Affiliate, (b) such transaction
is between or among Credit Parties or (c) such transaction is listed on Schedule 6.12. Borrower shall promptly disclose in writing
each transaction with the Manager or any holder of 10% or more of any class of Capital Stock of Holdings or any of its Subsidiaries or
with any Affiliate of Holdings or of any such holder to Administrative Agent.

 

6.13         Conduct
of Business; Non-Wholly Owned Subsidiaries. No Credit Party shall, nor shall it permit any of its Subsidiaries to, engage in
any business other than (i) the businesses of the type engaged in by such Credit Party on the Closing Date or any business substantially
related, reasonably complementary or incidental thereto. and (ii) such other lines of business as may be consented to by Administrative
Agent and Requisite Lenders. No Credit Party shall own, acquire, form, create or incorporate any non-wholly owned Subsidiary.

 

6.14         Use
of Proceeds. Borrower shall not, and shall not permit Holdings or any of its Subsidiaries to, use the proceeds of any Loan in a manner
that would violate Section 2.6.

 

6.15          Permitted
Activities of Holdings. Holdings shall not (a) incur, directly or indirectly, any Indebtedness or any other obligation or
liability whatsoever other than the Obligations and obligations under the Related Agreements; (b) create or suffer to exist any
Lien upon any property or assets now owned or hereafter acquired by it other than the Liens created under the Collateral Documents
to which it is a party or permitted pursuant to Section 6.2; (c) engage in any business or activity or own any
assets other than (i) holding 100% of the Capital Stock of Borrower; (ii) performing its obligations and activities
incidental thereto under the Credit Documents, and to the extent not inconsistent therewith, the Related Agreements; and
(iii) making Restricted Junior Payments and Investments to the extent permitted by this Agreement; (d) consolidate with or
merge with or into, or convey, transfer or lease all or substantially all its assets to, any Person; (e) sell or otherwise
dispose of any Capital Stock of any of its Subsidiaries; (f) create or acquire any Subsidiary or make or own any Investment in
any Person other than Borrower; or (g) fail to hold itself out to the public as a legal entity separate and distinct from all
other Persons.

 

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6.16         Amendments
or Waivers of Certain Related Agreements. No Credit Party shall nor shall it permit any of its Subsidiaries to, agree to any material
amendment, restatement, supplement or other modification to, or waiver of, any of its material rights under any Related Agreement after
the Closing Date without in each case obtaining the prior written consent of Administrative Agent to such amendment, restatement, supplement
or other modification or waiver.

 

6.17         Fiscal
Year. No Credit Party shall, nor shall it permit any of its Subsidiaries to, change (i) its Fiscal Year end from December 31
or (ii) except to the extent in accordance with GAAP, its accounting policies from those in effect on the Closing Date, in each case,
without the prior written consent of Administrative Agent,.

 

6.18         Deposit
Accounts and Securities Accounts. Subject to Sections 5.20 and 5.21, no Credit Party shall establish or maintain a Deposit
Account or Securities Account that is not a Controlled Account and no Credit Party will deposit funds in a Deposit Account that is not
a Controlled Account (in each case except for any Excluded Account).

 

6.19         Amendments
to Organizational Agreements and Material Contracts. No Credit Party shall (a) amend or permit any amendments to any Credit Party's
Organizational Documents or the Management Agreement; or (b) amend or permit any amendments to, or terminate or waive any provision
of, any Material Contract, if such amendment, termination, or waiver in respect of such Organizational Documents, Management Agreement
to Material Contract would be materially adverse to the interests of Administrative Agent or the Lenders.

 

6.20         Prepayments
of Certain Indebtedness. No Credit Party shall, nor shall it permit any of its Affiliates to, directly or indirectly, purchase, redeem,
defease or prepay any principal of, premium, if any, interest or other amount payable in respect of any Indebtedness prior to its scheduled
maturity, other than (i) the Obligations and (ii) Indebtedness secured by a Permitted Lien if the asset securing such Indebtedness
has been sold or otherwise disposed of in accordance with Section 6.9.

 

6.21         Foreign
Subsidiaries. No Foreign Subsidiary shall, and no Credit Party shall permit any of its Foreign Subsidiaries to, own any Material Intellectual
Property or other material assets or be party to any Material Contracts, other than (a) employees providing the services and supporting
the business of Holdings, its Domestic Subsidiaries or (b) material assets (but not any Material Contracts) as may be necessary to
(i) comply with local statutory tax requirements or (ii) avoid material adverse tax consequences to Holdings, its Subsidiaries
or any of its direct or indirect equityholders.

 

6.22         Earnout
Payment. No (i) proceeds of any Loan nor (ii) Cash resulting from the operations of Borrower and its Subsidiaries shall
be used to pay any portion of the Escrow Amount and/or Earnout Payment. It is understood and agreed that such Escrow Amount and/or Earnout
Payment shall be funded solely with the Cash proceeds from Capital Stock (other than Disqualified Capital Stock) issued by Holdings or
capital contributions made to Holdings by its shareholders.

 

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6.23         Anti-Corruption
Laws; Sanctions; Anti-Money Laundering Laws.

 

(a)            No
Credit Party shall directly or indirectly use the proceeds of any Credit Extension, or lend, contribute or otherwise make available such
proceeds, to any Subsidiary, agent, joint venture partner, or other Person (i) in furtherance of an offer, payment, promise to pay,
or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws
or Anti-Money Laundering Laws, (ii) for the purpose of funding, financing or knowingly facilitating any activities, business or transaction
of or with any Sanctioned Person, or in any Sanctioned Country in violation of any Sanctions applicable to any party to this Agreement,
or (iii) in any manner that would result in the violation of any Sanctions applicable to any party hereto. No Credit Party shall
repay any amount due under this Agreement or other Credit Document from funds which, to the knowledge of such Credit Party, have been
generated by activities or business conducted with any Sanctioned Person or in any Sanctioned Country or from activities that are in violation
of Sanctions.

 

(b)            Each
Credit Party shall maintain in effect policies and procedures reasonably designed to achieve compliance by such Credit Party and its directors,
officers, employees and agents with Anti-Corruption Laws, Sanctions and Anti-Money Laundering Laws.

 

6.24         Plan
Assets; Prohibited Transactions. No Credit Party will take any action that would (a) result in its assets being deemed to
include (i) Plan Assets or (ii) “plan assets” subject to Similar Law or (b) cause any transaction
contemplated hereunder or any other Credit Document (or the exercise by Administrative Agent of any of its rights under any Credit
Document) to constitute or result in a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the
Internal Revenue Code or a violation of Similar Law.

 

SECTION 7.          GUARANTY

 

7.1            Guaranty
of the Obligations. Subject to the provisions of Section 7.2, Guarantors jointly and severally hereby irrevocably and
unconditionally guaranty to Administrative Agent for the ratable benefit of the Beneficiaries the due and punctual payment in full of
all Obligations when the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand
or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the
Bankruptcy Code, 11 U.S.C. § 362(a)) (collectively, the “Guaranteed Obligations”).

 

7.2            Contribution
by Guarantors. All Guarantors desire to allocate among themselves (collectively, the “Contributing
Guarantors”), in a fair and equitable manner, their obligations arising under this Guaranty. Accordingly, in the event any
payment or distribution is made on any date by a Guarantor (a “Funding Guarantor”) under this Guaranty such that
its Aggregate Payments (as defined below) exceeds its Fair Share (as defined below) as of such date, such Funding Guarantor shall be
entitled to a contribution from each of the other Contributing Guarantors in an amount sufficient to cause each Contributing
Guarantor’s Aggregate Payments to equal its Fair Share as of such date. “Fair Share” means, with respect to
a Contributing Guarantor as of any date of determination, an amount equal to (a) the ratio of (i) the Fair Share
Contribution Amount (as defined below) with respect to such Contributing Guarantor, to (ii) the aggregate of the Fair Share
Contribution Amounts with respect to all Contributing Guarantors multiplied by, (b) the aggregate amount paid or distributed on
or before such date by all Funding Guarantors under this Guaranty in respect of the Guaranteed Obligations. “Fair Share
Contribution Amount” means, with respect to a Contributing Guarantor as of any date of determination, the maximum
aggregate amount of the obligations of such Contributing Guarantor under this Guaranty that would not render its obligations
hereunder subject to avoidance as a fraudulent transfer or conveyance under Section 548 of Title 11 of the United States Code
or any comparable applicable provisions of state law; provided, solely for purposes of calculating the “Fair Share
Contribution Amount” with respect to any Contributing Guarantor for purposes of this Section 7.2, any assets
or liabilities of such Contributing Guarantor arising by virtue of any rights to subrogation, reimbursement or indemnification or
any rights to or obligations of contribution hereunder shall not be considered as assets or liabilities of such Contributing
Guarantor. “Aggregate Payments” means, with respect to a Contributing Guarantor as of any date of determination,
an amount equal to (1) the aggregate amount of all payments and distributions made on or before such date by such Contributing
Guarantor in respect of this Guaranty (including in respect of this Section 7.2), minus (2) the aggregate
amount of all payments received on or before such date by such Contributing Guarantor from the other Contributing Guarantors as
contributions under this Section 7.2. The amounts payable as contributions hereunder shall be determined as of the date
on which the related payment or distribution is made by the applicable Funding Guarantor. The allocation among Contributing
Guarantors of their obligations as set forth in this Section 7.2 shall not be construed in any way to limit the
liability of any Contributing Guarantor hereunder. Each Guarantor is a third party beneficiary to the contribution agreement set
forth in this Section 7.2.

 

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7.3            Payment
by Guarantors. Subject to Section 7.2, Guarantors hereby jointly and severally agree, in furtherance of the
foregoing and not in limitation of any other right which any Beneficiary may have at law or in equity against any Guarantor by
virtue hereof, that upon the failure of Borrower to pay any of the Guaranteed Obligations when and as the same shall become due,
whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would
become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. §
362(a)), Guarantors will upon demand pay, or cause to be paid, in Cash, to Administrative Agent for the ratable benefit of
Beneficiaries, an amount equal to the sum of the unpaid principal amount of all Guaranteed Obligations then due as aforesaid,
accrued and unpaid interest on such Guaranteed Obligations (including interest which, but for Borrower’s becoming the subject
of a case under the Bankruptcy Code, would have accrued on such Guaranteed Obligations, whether or not a claim is allowed against
Borrower for such interest in the related bankruptcy case) and all other Guaranteed Obligations then owed to Beneficiaries as
aforesaid.

 

7.4            Liability
of Guarantors Absolute. Each Guarantor agrees that its obligations hereunder are irrevocable, absolute, independent and unconditional
and shall not be affected by any circumstance which constitutes a legal or equitable discharge of a guarantor or surety other than payment
in full of the Guaranteed Obligations. In furtherance of the foregoing and without limiting the generality thereof, each Guarantor agrees
as follows:

 

(a)            this
Guaranty is a guaranty of payment when due and not of collectability;

 

(b)            this
Guaranty is a primary obligation of each Guarantor and not merely a contract of surety;

 

(c)            Administrative
Agent may enforce this Guaranty upon the occurrence of an Event of Default notwithstanding the existence of any dispute between Borrower
and any Beneficiary with respect to the existence of such Event of Default;

 

(d)            the
obligations of each Guarantor hereunder are independent of the obligations of Borrower and the obligations of any other guarantor (including
any other Guarantor) of the obligations of Borrower, and a separate action or actions may be brought and prosecuted against such Guarantor
whether or not any action is brought against Borrower or any of such other guarantors and whether or not Borrower is joined in any such
action or actions;

 

(e)             payment
by any Guarantor of a portion, but not all, of the Guaranteed Obligations shall in no way limit, affect, modify or abridge any
Guarantor’s liability for any portion of the Guaranteed Obligations which has not been paid; provided that, without
limiting the generality of the foregoing, if Administrative Agent is awarded a judgment in any suit brought to enforce any
Guarantor’s covenant to pay a portion of the Guaranteed Obligations, such judgment shall not be deemed to release such
Guarantor from its covenant to pay the portion of the Guaranteed Obligations that is not the subject of such suit, and such judgment
shall not, except to the extent satisfied by such Guarantor, limit, affect, modify or abridge any other Guarantor’s liability
hereunder in respect of the Guaranteed Obligations;

 

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(f)             any
Beneficiary, upon such terms as it deems appropriate, without notice or demand and without affecting the validity or enforceability
hereof or giving rise to any reduction, limitation, impairment, discharge or termination of any Guarantor’s liability
hereunder, from time to time may (i) renew, extend, accelerate, increase the rate of interest on, or otherwise change the time,
place, manner or terms of payment of the Guaranteed Obligations; (ii) settle, compromise, release or discharge, or accept or
refuse any offer of performance with respect to, or substitutions for, the Guaranteed Obligations or any agreement relating thereto
and/or subordinate the payment of the same to the payment of any other obligations; (iii) request and accept other guaranties
of the Guaranteed Obligations and take and hold security for the payment hereof or the Guaranteed Obligations; (iv) release,
surrender, exchange, substitute, compromise, settle, rescind, waive, alter, subordinate or modify, with or without consideration,
any security for payment of the Guaranteed Obligations, any other guaranties of the Guaranteed Obligations, or any other obligation
of any Person (including any other Guarantor) with respect to the Guaranteed Obligations; (v) enforce and apply any security
now or hereafter held by or for the benefit of such Beneficiary in respect hereof or the Guaranteed Obligations and direct the order
or manner of sale thereof, or exercise any other right or remedy that such Beneficiary may have against any such security, in each
case as such Beneficiary in its discretion may determine consistent herewith or the applicable Interest Rate Agreement and Currency
Agreement and any applicable security agreement, including foreclosure on any such security pursuant to one or more judicial or
nonjudicial sales, whether or not every aspect of any such sale is commercially reasonable, and even though such action operates to
impair or extinguish any right of reimbursement or subrogation or other right or remedy of any Guarantor against Borrower or any
security for the Guaranteed Obligations; and (vi) exercise any other rights available to it under the Credit Documents or
Interest Rate Agreements and Currency Agreements; and

 

(g)             this
Guaranty and the obligations of Guarantors hereunder shall be valid and enforceable and shall not be subject to any reduction,
limitation, impairment, discharge or termination for any reason (other than payment in full of the Guaranteed Obligations),
including the occurrence of any of the following, whether or not any Guarantor shall have had notice or knowledge of any of them:
(i) any failure or omission to assert or enforce or agreement or election not to assert or enforce, or the stay or enjoining,
by order of court, by operation of law or otherwise, of the exercise or enforcement of, any claim or demand or any right, power or
remedy (whether arising under the Credit Documents, or any Interest Rate Agreement or Currency Agreement, at law, in equity or
otherwise) with respect to the Guaranteed Obligations or any agreement relating thereto, or with respect to any other guaranty of or
security for the payment of the Guaranteed Obligations; (ii) any rescission, waiver, amendment or modification of, or any
consent to departure from, any of the terms or provisions (including provisions relating to events of default) hereof, any of the
other Credit Documents, any of the Interest Rate Agreements or Currency Agreements relating to the Guaranteed Obligations or any
agreement or instrument executed pursuant thereto, or of any other guaranty or security for the Guaranteed Obligations, in each case
whether or not in accordance with the terms hereof or such Credit Document, such Interest Rate Agreement or Currency Agreement or
any agreement relating to such other guaranty or security; (iii) the Guaranteed Obligations, or any agreement relating thereto,
at any time being found to be illegal, invalid or unenforceable in any respect; (iv) the application of payments received from
any source (other than payments received pursuant to the other Credit Documents or any of the Interest Rate Agreements or Currency
Agreements relating to the Guaranteed Obligations or from the proceeds of any security for the Guaranteed Obligations, except to the
extent such security also serves as collateral for indebtedness other than the Guaranteed Obligations) to the payment of
indebtedness other than the Guaranteed Obligations, even though any Beneficiary might have elected to apply such payment to any part
or all of the Guaranteed Obligations; (v) any Beneficiary’s consent to the change, reorganization or termination of the
corporate structure or existence of Holdings or any of its Subsidiaries and to any corresponding restructuring of the Guaranteed
Obligations; (vi) any failure to perfect or continue perfection of a security interest in any collateral which secures any of
the Guaranteed Obligations; (vii) any defenses, set offs or counterclaims which Borrower may allege or assert against any
Beneficiary in respect of the Guaranteed Obligations, including failure of consideration, breach of warranty, payment, statute of
frauds, statute of limitations, accord and satisfaction and usury; and (viii) any other act or thing or omission, or delay to
do any other act or thing, which may or might in any manner or to any extent vary the risk of any Guarantor as an obligor in respect
of the Guaranteed Obligations.

 

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7.5           Waivers
by Guarantors. Each Guarantor hereby waives, for the benefit of Beneficiaries: (a) any right to require any Beneficiary,
as a condition of payment or performance by such Guarantor, to (i) proceed against Borrower, any other guarantor
(including any other Guarantor) of the Guaranteed Obligations or any other Person, (ii) proceed against or exhaust any security held
from Borrower, any such other guarantor or any other Person, (iii) proceed against or have resort to any balance of any Deposit Account
or credit on the books of any Beneficiary in favor of Borrower or any other Person, or (iv) pursue any other remedy in the power
of any Beneficiary whatsoever; (b) any defense arising by reason of the incapacity, lack of authority or any disability or other
defense of Borrower or any other Guarantor including any defense based on or arising out of the lack of validity or the unenforceability
of the Guaranteed Obligations or any agreement or instrument relating thereto or by reason of the cessation of the liability of Borrower
or any other Guarantor from any cause other than payment in full of the Guaranteed Obligations; (c) any defense based upon any statute or
rule of law which provides that the obligation of a surety must be neither larger in amount nor in other respects more burdensome
than that of the principal; (d) any defense based upon any Beneficiary’s errors or omissions in the administration of the Guaranteed
Obligations, except behavior which amounts to bad faith; (e) (i) any principles or provisions of law, statutory or otherwise,
which are or might be in conflict with the terms hereof and any legal or equitable discharge of such Guarantor’s obligations hereunder,
(ii) the benefit of any statute of limitations affecting such Guarantor’s liability hereunder or the enforcement hereof, (iii) any
rights to set offs, recoupments and counterclaims, and (iv) promptness, diligence and any requirement that any Beneficiary protect,
secure, perfect or insure any security interest or lien or any property subject thereto; (f) notices, demands, presentments, protests,
notices of protest, notices of dishonor and notices of any action or inaction, including acceptance hereof, notices of default hereunder,
the Interest Rate Agreements or Currency Agreements relating to the Guaranteed Obligations or any agreement or instrument related thereto,
notices of any renewal, extension or modification of the Guaranteed Obligations or any agreement related thereto, notices of any extension
of credit to Borrower and notices of any of the matters referred to in Section 7.4 and any right to consent to any thereof;
and (g) any defenses or benefits that may be derived from or afforded by law which limit the liability of or exonerate guarantors
or sureties, or which may conflict with the terms hereof.

 

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7.6            Guarantors’
Rights of Subrogation, Contribution, etc.. Until the Guaranteed Obligations shall have been indefeasibly paid in full in Cash
and the Commitments shall have terminated, each Guarantor hereby waives any claim, right or remedy, direct or indirect, that such Guarantor
now has or may hereafter have against Borrower or any other Guarantor or any of its assets in connection with this Guaranty or the performance
by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by
statute, under common law or otherwise and including (a) any right of subrogation, reimbursement or indemnification that such Guarantor
now has or may hereafter have against Borrower with respect to the Guaranteed Obligations, (b) any right to enforce, or to participate
in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Borrower, and (c) any benefit of, and any
right to participate in, any collateral or security now or hereafter held by any Beneficiary. In addition, until the Guaranteed Obligations
shall have been indefeasibly paid in full in Cash and the Commitments shall have terminated, each Guarantor shall withhold exercise of
any right of contribution such Guarantor may have against any other guarantor (including any other Guarantor) of the Guaranteed
Obligations, including any such right of contribution as contemplated by Section 7.2. Each Guarantor further agrees that,
to the extent the waiver or agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution
as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement
or indemnification such Guarantor may have against Borrower or against any collateral or security, and any rights of contribution such
Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights any Beneficiary may have against Borrower,
to all right, title and interest any Beneficiary may have in any such collateral or security, and to any right any Beneficiary may have
against such other guarantor. If any amount shall be paid to any Guarantor on account of any such subrogation, reimbursement, indemnification
or contribution rights at any time when all Guaranteed Obligations shall not have been finally and indefeasibly paid in full in Cash,
such amount shall be held in trust for Administrative Agent on behalf of Beneficiaries and shall forthwith be paid over to Administrative
Agent for the benefit of Beneficiaries to be credited and applied against the Guaranteed Obligations, whether matured or unmatured, in
accordance with the terms hereof.

 

7.7            Subordination
of Other Obligations. Any Indebtedness of Borrower or any Guarantor now or hereafter held by any Guarantor (the “Obligee
Guarantor”) is hereby subordinated in right of payment to the Guaranteed Obligations, and any such indebtedness collected or
received by the Obligee Guarantor after an Event of Default has occurred and is continuing shall be held in trust for Administrative Agent
on behalf of Beneficiaries and shall forthwith be paid over to Administrative Agent for the benefit of Beneficiaries to be credited and
applied against the Guaranteed Obligations but without affecting, impairing or limiting in any manner the liability of the Obligee Guarantor
under any other provision hereof.

 

7.8            Continuing
Guaranty. This Guaranty is a continuing guaranty and shall remain in effect until all of the Guaranteed Obligations (other than contingent
indemnification obligations to the extent no claim giving rise thereto has been asserted) shall have been indefeasibly paid in full in
Cash and the Commitments shall have terminated. Each Guarantor hereby irrevocably waives any right to revoke this Guaranty as to future
transactions giving rise to any Guaranteed Obligations.

 

7.9            Authority
of Guarantors or Borrower. It is not necessary for any Beneficiary to inquire into the capacity or powers of any Guarantor or Borrower
or the officers, directors or any agents acting or purporting to act on behalf of any of them.

 

7.10          Financial
Condition of Borrower. Any Credit Extensions may be made to Borrower or continued from time to time, and any Interest Rate Agreements
or Currency Agreements may be entered into from time to time, in each case without notice to or authorization from any Guarantor regardless
of the financial or other condition of Borrower at the time of any such grant or continuation and any Interest Rate Agreement or Currency
Agreement, as the case may be. No Beneficiary shall have any obligation to disclose or discuss with any Guarantor its assessment, or any
Guarantor’s assessment, of the financial condition of Borrower. Each Guarantor has adequate means to obtain information from Borrower
on a continuing basis concerning the financial condition of Borrower and its ability to perform its obligations under the Credit Documents
and the Interest Rate Agreements and Currency Agreements, and each Guarantor assumes the responsibility for being and keeping informed
of the financial condition of Borrower and of all circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations. Each
Guarantor hereby waives and relinquishes any duty on the part of any Beneficiary to disclose any matter, fact or thing relating to the
business, operations or conditions of Borrower now known or hereafter known by any Beneficiary.

 

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7.11         Bankruptcy, etc..

 

(a)            So
long as any Guaranteed Obligations remain outstanding, no Guarantor shall, without the prior written consent of Administrative Agent acting
pursuant to the instructions of Requisite Lenders, commence or join with any other Person in commencing any bankruptcy, reorganization
or insolvency case or proceeding of or against Borrower or any other Guarantor. The obligations of Guarantors hereunder shall not be reduced,
limited, impaired, discharged, deferred, suspended or terminated by any case or proceeding, voluntary or involuntary, involving the bankruptcy,
insolvency, receivership, reorganization, liquidation or arrangement of Borrower or any other Guarantor or by any defense which Borrower
or any other Guarantor may have by reason of the order, decree or decision of any court or administrative body resulting from any such
proceeding.

 

(b)            Each
Guarantor acknowledges and agrees that any interest on any portion of the Guaranteed Obligations which accrues after the commencement
of any case or proceeding referred to in clause (a) above (or, if interest on any portion of the Guaranteed Obligations ceases
to accrue by operation of law by reason of the commencement of such case or proceeding, such interest as would have accrued on such portion
of the Guaranteed Obligations if such case or proceeding had not been commenced) shall be included in the Guaranteed Obligations because
it is the intention of Guarantors and Beneficiaries that the Guaranteed Obligations should be determined without regard to any rule of
law or order which may relieve Borrower of any portion of such Guaranteed Obligations. Guarantors will permit any trustee in bankruptcy,
receiver, debtor in possession, assignee for the benefit of creditors or similar person to pay Administrative Agent, or allow the claim
of Administrative Agent in respect of, any such interest accruing after the date on which such case or proceeding is commenced.

 

(c)            In
the event that all or any portion of the Guaranteed Obligations are paid by Borrower, the obligations of Guarantors hereunder shall continue
and remain in full force and effect or be reinstated, as the case may be, in the event that all or any part of such payment(s) are
rescinded or recovered directly or indirectly from any Beneficiary as a preference, fraudulent transfer or otherwise, and any such payments
which are so rescinded or recovered shall constitute Guaranteed Obligations for all purposes hereunder.

 

7.12          Discharge
of Guaranty Upon Sale of Guarantor. If all of the Capital Stock of any Guarantor or any of its successors in interest hereunder shall
be sold or otherwise disposed of (including by merger or consolidation) in accordance with the terms and conditions hereof, the Guaranty
of such Guarantor or such successor in interest, as the case may be, hereunder shall automatically be discharged and released without
any further action by any Beneficiary or any other Person effective as of the time of such Asset Sale.

 

7.13         Keepwell.
Each Qualified ECP Guarantor hereby, jointly and severally, absolutely, unconditionally and irrevocably undertakes to provide such
funds or other support as may be needed from time to time by each other Credit Party to honor all of its obligations under this Agreement
in respect of Swap Obligations (provided, however, that each Qualified ECP Guarantor shall only be liable under this Section 7.13
for the maximum amount of such liability that can be hereby incurred without rendering its obligations under this Section 7.13,
or otherwise under this Agreement, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for
any greater amount). The obligations of each Qualified ECP Guarantor under this Section 7.13 shall remain in full force and
effect until all of the Guaranteed Obligations (other than contingent indemnification obligations to the extent no claim giving rise thereto
has been asserted) shall have been paid in full and the Commitments shall have been terminated or expired. Each Qualified ECP Guarantor
intends that this Section 7.13 constitute, and this Section 7.13 shall be deemed to constitute, a “keepwell,
support, or other agreement” for the benefit of each other Credit Party for all purposes of Section 1a(18)(A)(v)(II) of
the Commodity Exchange Act.

 

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SECTION 8.         EVENTS
OF DEFAULT

 

8.1           Events
of Default. If any one or more of the following conditions or events shall occur (each, an “Event of Default”):

 

(a)             Failure
to Make Payments When Due. Failure by Borrower to pay (i) when required to be paid hereunder or under the Fee Letter, the principal
of and premium (including, without limitation, any Yield Maintenance Premium or Prepayment Premium), if any, on any Loan or the Exit Payment,
whether at stated maturity, by acceleration or otherwise, (ii) when required to be paid hereunder, any installment of principal of
any Loan by notice of voluntary prepayment, by mandatory prepayment or otherwise, or (iii) within three Business Days after the same
becomes due, any interest on any Loan or any fee or any other amount due hereunder;

 

(b)             Default
in Other Agreements. (i) Failure of any Credit Party or any of their respective Subsidiaries to pay when due any principal of
or interest on or any other amount payable in respect of one or more items of Indebtedness (other than Indebtedness referred to in Section 8.1(a))
in an individual principal amount of $250,000 or more or with an aggregate principal amount of $500,000 or more, in each case beyond the
grace period, if any, provided therefor; or (ii) breach or default by any Credit Party or any such Subsidiary with respect to any
other term of (1) one or more items of Indebtedness in the individual or aggregate principal amounts referred to in clause (i) above,
or (2) any loan agreement, mortgage, indenture or other agreement relating to such item(s) of Indebtedness, in each case beyond
the grace period, if any, provided therefor, if the effect of such breach or default is to cause, or to permit the holder or holders of
that Indebtedness (or a trustee on behalf of such holder or holders), to cause, that Indebtedness to become or be declared due and payable
(or subject to a compulsory repurchase or redeemable) prior to its stated maturity or the stated maturity of any underlying obligation,
as the case may be (other than by a regularly scheduled required prepayment or redemption, or, with respect to any secured Indebtedness,
resulting from a disposition, condemnation, insured loss or similar event relating to the property securing such Indebtedness);

 

(c)             Breach
of Certain Covenants. Failure of any Credit Party to perform or comply with any term or condition contained in (i) Section 5.19
or 5.20 and such failure shall continue unremedied for a period of three Business Days or (ii) Section 2.6, Section 5.1,
5.2, 5.5, 5.6, 5.8, 5.10, 5.11, 5.12, 5.14, 5.15, 5.16, 5.17, 5.18 or 5.21, Section 6 or the last sentence of Section 10.17;

 

(d)             Breach
of Representations, etc. Any representation, warranty, certification or other statement made or deemed made by any Credit Party
in any Credit Document or in any statement or certificate at any time given by any Credit Party or any of its Subsidiaries in writing
pursuant hereto or thereto or in connection herewith or therewith shall be false in any material respect as of the date made or deemed
made;

 

(e)             Other
Defaults Under Credit Documents. Any Credit Party shall default in the performance of or compliance with any term contained herein
or any of the other Credit Documents, other than any such term referred to in any other Section of this Section 8.1,
and such default shall not have been remedied or waived within 30 days after the earlier of (i) an officer of such Credit Party becoming
aware of such default, or (ii) receipt by Borrower of notice from Administrative Agent or any Lender of such default;

 

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(f)             Involuntary
Bankruptcy; Appointment of Receiver, etc. (i) A court of competent jurisdiction shall enter a decree or order for
relief in respect of Holdings or any of its Subsidiaries in an involuntary case under the Bankruptcy Code or under any other
applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other
similar relief shall be granted under any applicable federal or state law; or (ii) an involuntary case shall be commenced
against Holdings or any of its Subsidiaries under the Bankruptcy Code or under any other applicable bankruptcy, insolvency or
similar law or Debtor Relief Law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for
the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over Holdings or
any of its Subsidiaries, or over all or a substantial part of its property, shall have been entered; or there shall have occurred
the involuntary appointment of an interim receiver, trustee or other custodian of Holdings or any of its Subsidiaries for all or a
substantial part of its property; or a warrant of attachment, execution or similar process shall have been issued against any
substantial part of the property of Holdings or any of its Subsidiaries, and any such event described in this clause (ii) shall
continue for 60 days without having been dismissed, bonded or discharged;

 

(g)            Voluntary
Bankruptcy; Appointment of Receiver, etc. (i) Holdings or any of its Subsidiaries shall have an order for relief entered
with respect to it or shall commence a voluntary case under the Bankruptcy Code or under any other applicable bankruptcy, insolvency or
similar law or Debtor Relief Law now or hereafter in effect, or shall consent to the entry of an order for relief in an involuntary case,
or to the conversion of an involuntary case to a voluntary case, under any such law, or shall consent to the appointment of or taking
possession by a receiver, trustee or other custodian for all or a substantial part of its property; or Holdings or any of its Subsidiaries
shall make any assignment for the benefit of creditors; or (ii) Holdings or any of its Subsidiaries shall be unable, or shall fail
generally, or shall admit in writing its inability, to pay its debts as such debts become due; or the board of directors (or similar governing
body) of Holdings or any of its Subsidiaries (or any committee thereof) shall adopt any resolution or otherwise authorize any action to
approve any of the actions referred to herein or in Section 8.1(f);

 

(h)            Judgments
and Attachments. Any money judgment, writ or warrant of attachment or similar process involving (i) in any individual case an
amount in excess of $250,000 or (ii) in the aggregate at any time an amount in excess of $500,000 (in either case to the extent not
adequately covered by insurance as to which a solvent and unaffiliated insurance company has acknowledged coverage) shall be entered or
filed against Holdings or any of its Subsidiaries or any of their respective assets and shall remain undischarged, unvacated, unbonded
or unstayed for a period of 60 days;

 

(i)              [Reserved];

 

(j)              Employee
Benefit Plans. (i) There shall occur one or more ERISA Events which individually or in the aggregate results in or could reasonably
be expected to result in a Material Adverse Effect or in the imposition of a Lien or security interest under Section 412(n) or
430(k) of the Internal Revenue Code or under Section 302(f) or 303(k) or Title IV of ERISA; or (ii) there shall
occur one or more Foreign Benefit Events which individually or in the aggregate would reasonably be expected to result in a Material Adverse
Effect;

 

(k)             Change
of Control. A Change of Control shall occur; or

 

(l)              Guaranties,
Collateral Documents and other Credit Documents. At any time after the execution and delivery thereof, (i) the Guaranty for
any reason, other than the satisfaction in full of all Obligations, shall cease to be in full force and effect (other than in
accordance with its terms) or shall be declared to be null and void or any Guarantor shall repudiate its obligations thereunder in
writing, (ii) this Agreement or any Collateral Document ceases to be in full force and effect (other than by reason of a
release of Collateral in accordance with the terms hereof or thereof or the satisfaction in full of the Obligations in accordance
with the terms hereof) or shall be declared null and void, or Collateral Agent shall not have or shall cease to have a valid and
perfected Lien in any material portion of the Collateral purported to be covered by the Collateral Documents with the priority
required by the relevant Collateral Document, in each case for any reason other than the failure of Collateral Agent or any Secured
Party to take any action within its control, (iii) any Credit Party shall contest the validity or enforceability of any Credit
Document in writing or deny in writing that it has any further liability, including with respect to future advances by Lenders,
under any Credit Document to which it is a party, or (iv) any subordination agreement (or subordination provisions incorporated
in any subordinated Indebtedness) or intercreditor agreement, or any provisions thereof, ceases to be valid and enforceable against
any holder of Indebtedness intended to be subordinated to the Obligations or secured by a Lien intended to be subordinated to the
Lien of Collateral Agent or any holder of such Indebtedness shall so assert in writing;

 

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THEN,
(1) upon the occurrence of any Event of Default described in Section 8.1(f) or 8.1(g), automatically, and
(2) upon the occurrence of any other Event of Default, at the request of (or with the consent of) Requisite Lenders, upon notice
to Borrower by Administrative Agent, (A) the Commitments, if any, of each Lender having such Commitments shall immediately terminate;
(B) each of the following shall immediately become due and payable, in each case without presentment, demand, protest or other requirements
of any kind, all of which are hereby expressly waived by each Credit Party: (I) the unpaid principal amount of and accrued interest
on the Loans and (II) all other Obligations, including, without limitation, the Exit Payment, Yield Maintenance Premium and Prepayment
Premium; and (C) Administrative Agent may cause Collateral Agent to enforce any and all Liens and security interests created pursuant
to Collateral Documents.

 

SECTION 9.         AGENTS

 

9.1            Appointment
of Agents. Crestline is hereby appointed Administrative Agent and Collateral Agent hereunder and under the other Credit Documents
and each Lender hereby authorizes Crestline, in such capacity, to act as its agent in accordance with the terms hereof and the other Credit
Documents. Each Agent hereby agrees to act upon the express conditions contained herein and the other Credit Documents, as applicable.
Except as expressly stated in Section 9.8, the provisions of this Section  9 are solely for the benefit of Agents
and the Lenders, and no Credit Party shall have any rights as a third party beneficiary of any of the provisions thereof. In performing
its functions and duties hereunder, each Agent shall act solely as an agent of Lenders and does not assume and shall not be deemed to
have assumed any obligation towards or relationship of agency or trust with or for Holdings or any of its Subsidiaries. It is understood
and agreed that the use of the term “agent” herein or in any other Credit Documents (or any other similar term) with reference
to Administrative Agent or Collateral 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 contracting parties.

 

9.2            Powers
and Duties. Each Lender irrevocably authorizes each Agent to take such action on such Lender’s behalf and to exercise such powers,
rights and remedies hereunder and under the other Credit Documents as are specifically delegated or granted to such Agent by the terms
hereof and thereof, together with such powers, rights and remedies as are reasonably incidental thereto. Each Agent shall have only those
duties and responsibilities that are expressly specified herein and the other Credit Documents. Each Agent may exercise such powers, rights
and remedies and perform such duties by or through its agents or employees. No Agent shall have, by reason hereof or any of the other
Credit Documents, a fiduciary relationship or other implied (or express) obligations arising under agency doctrine of any applicable law
in respect of any Lender; and nothing herein or any of the other Credit Documents, expressed or implied, is intended to or shall be so
construed as to impose upon any Agent any obligations in respect hereof or any of the other Credit Documents except as expressly set forth
herein or therein.

 

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 9.3            General Immunity.

 

(a)             No
Responsibility for Certain Matters. No Agent shall be responsible to any Lender for the execution, effectiveness, genuineness, validity,
enforceability, collectability or sufficiency hereof or any other Credit Document, the satisfaction of any condition set forth in Section 3
or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to either Agent thereunder, or for any
representations, warranties, recitals or statements made herein or therein or made in any written or oral statements or in any financial
or other statements, instruments, reports or certificates or any other documents furnished or made by any Agent to Lenders or by or on
behalf of any Credit Party to any Agent or any Lender in connection with the Credit Documents and the transactions contemplated thereby
or for the financial condition or business affairs of any Credit Party or any other Person liable for the payment of any Obligations,
nor shall any Agent be required to ascertain or inquire as to the performance or observance of any of the terms, conditions, provisions,
covenants or agreements contained in any of the Credit Documents or as to the use of the proceeds of the Loans or as to the existence
or possible existence of any Event of Default or Default or to make any disclosures with respect to the foregoing. For avoidance of doubt,
Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default and/or Event of Default, unless
Administrative Agent shall have received written notice from a Lender or any Credit Party referring to this Agreement and describing such
Default or Event of Default. Anything contained herein to the contrary notwithstanding, Administrative Agent shall not have any liability
arising from confirmations of the amount of outstanding Loans or the component amounts thereof.

 

(b)             Exculpatory
Provisions. No Agent nor any of its officers, partners, directors, managers, members, employees or agents shall be liable to
Lenders for any action taken or omitted by any Agent under or in connection with any of the Credit Documents except to the extent
caused by such Agent’s gross negligence or willful misconduct, as determined by a court of competent jurisdiction in a final,
non- appealable order. Each Agent shall be entitled to refrain from any act or the taking of any action (including the failure to
take an action) in connection herewith or any of the other Credit Documents or from the exercise of any power, discretion or
authority vested in it hereunder or thereunder unless and until such Agent shall have received instructions in respect thereof from
Requisite Lenders (or such other Lenders as may be required to give such instructions under Section 10.5) and, upon
receipt of such instructions from Requisite Lenders (or such other Lenders, as the case may be), such Agent shall be entitled to act
or (where so instructed) refrain from acting, or to exercise such power, discretion or authority, in accordance with such
instructions; 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 to liability or that is contrary to any Credit 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. Without prejudice to the
generality of the foregoing, (i) each Agent shall be entitled to rely, and shall no liability for relying, upon any notice,
request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or
intranet website posting or other distribution) believed by it to be genuine and correct and to have been signed or sent by the
proper Person or Persons, and shall be entitled to rely and shall be protected in relying on opinions and judgments of attorneys
(who may be attorneys for Holdings and its Subsidiaries), accountants, experts and other professional advisors selected by it; and
(ii) no Lender shall have any right of action whatsoever against any Agent as a result of such Agent acting or (where so
instructed) refraining from acting hereunder or any of the other Credit Documents in accordance with the instructions of Requisite
Lenders (or such other Lenders as may be required to give such instructions under Section 10.5). Each Agent also may
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 that by its
terms must be fulfilled to the satisfaction of a Lender, each Administrative Agent may presume that such condition is satisfactory
to such Lender unless such Agent shall have received notice to the contrary from such Lender prior to the making of such Loan. No
Agent shall, except as expressly set forth herein and in the other Credit Documents, have any duty to disclose, and shall not be
liable for the failure to disclose, any information relating to Borrower or any of its Affiliates that is communicated to or obtained by the Person
serving as an Agent or any of its Affiliates in any capacity.

 

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9.4            Agents
Entitled to Act as Lender. The agency hereby created shall in no way impair or affect any of the rights and powers of, or impose any
duties or obligations upon, any Agent in its individual capacity as a Lender hereunder. With respect to its participation in the Loans,
each Agent shall have the same rights and powers hereunder as any other Lender and may exercise the same as if it were not performing
the duties and functions delegated to it hereunder, and the term “Lender” shall, unless the context clearly otherwise indicates,
include each Agent in its individual capacity. Any Agent and its Affiliates may accept deposits from, lend money to, own securities of,
and generally engage in any kind of banking, trust, financial advisory or other business with Holdings or any of its Affiliates as if
it were not performing the duties specified herein, and may accept fees and other consideration from Borrower for services in connection
herewith and otherwise without having to account for the same to Lenders.

 

9.5            Delegation
of Duties. Each Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any other Credit
Document by or through any one or more sub-agents appointed by such Agent. Each Agent and any such sub-agent may perform any and all of
its duties and exercise its rights and powers by or through their respective and their respective Related Parties. The exculpatory provisions
of this Section 9 shall apply to any such sub-agent and to the Related Parties of such Agent and any such sub-agent. No Agent
shall be responsible for the negligence or misconduct of any sub- agents except to the extent that a court of competent jurisdiction determines
in a final and non-appealable judgment that such Agent acted with gross negligence or willful misconduct in the selection of such sub-agents.

 

 9.6           Lenders’ Representations, Warranties and Acknowledgment.

 

(a)             Each
Lender represents and warrants that it has made its own independent investigation of the financial condition and affairs of Holdings and
its Subsidiaries in connection with Credit Extensions hereunder and that it has made and shall continue to make its own appraisal of the
creditworthiness of Holdings and its Subsidiaries. No Agent shall have any duty or responsibility, either initially or on a continuing
basis, to make any such investigation or any such appraisal on behalf of Lenders or to provide any Lender with any credit or other information
with respect thereto, whether coming into its possession before the making of the Loans or at any time or times thereafter, and no Agent
shall have any responsibility with respect to the accuracy of or the completeness of any information provided to Lenders.

 

(b)             Each
Lender, by delivering its signature page to this and funding its Term Loan and/or Revolving Loans on the Closing Date, shall be deemed
to have acknowledged receipt of, and consented to and approved, each Credit Document and each other document required to be approved by
any Agent, Requisite Lenders or Lenders, as applicable on the Closing Date.

 

(c)             Each
Lender (other than Crestline) (i) represents and warrants that as of the Closing Date neither such Lender nor its Affiliates or Approved
Funds owns or controls, or owns or controls any Person owning or controlling, any trade debt or Indebtedness of any Credit Party other
than the Obligations or, except with respect to any Affiliate of Crestline, any Capital Stock of any Credit Party and (ii) covenants
and agrees that from and after the Closing Date neither such Lender nor its Affiliates and Approved Funds shall purchase any trade debt
or Indebtedness of any Credit Party (other than the Obligations) or Capital Stock described in clause (i) above without the prior
written consent of Administrative Agent.

 

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9.7            Right
to Indemnity. Each Lender, in proportion to its Pro Rata Share, severally agrees to indemnify each Agent and their respective
Related Parties (each, an “Indemnitee Related Party”), to the extent that such Indemnitee Related Party shall not
have been reimbursed by any Credit Party, for and against any and all liabilities, obligations, losses, damages, penalties, actions,
judgments, suits, costs, expenses (including counsel fees and disbursements) or disbursements of any kind or nature whatsoever which
may be imposed on, incurred by or asserted against such Indemnitee Related Party in exercising its powers, rights and remedies or
performing its duties hereunder or under the other Credit Documents or otherwise in its capacity as such Indemnitee Related Party in
any way relating to or arising out of this Agreement or the other Credit Documents, IN ALL CASES, WHETHER OR NOT CAUSED BY
OR ARISING, IN WHOLE OR IN PART, OUT OF THE COMPARATIVE, CONTRIBUTORY, OR SOLE NEGLIGENCE OF SUCH INDEMNITEE RELATED PARTY; provided,
(x) no Lender shall be liable for any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments,
suits, costs, expenses or disbursements resulting from such Indemnitee Related Party’s gross negligence or willful misconduct,
as determined by a court of competent jurisdiction in a final, non-appealable order and (y) the unreimbursed liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements, as the case may be, was
incurred by or asserted against such Agent (or any such sub- agent) in its capacity as such, or against any Indemnitee Related Party
of any of the foregoing acting for such Agent (or any such sub-agent) in connection with such capacity. If any indemnity furnished
to any Indemnitee Related Party for any purpose shall, in the opinion of such Indemnitee Related Party, be insufficient or become
impaired, such Indemnitee Related Party may call for additional indemnity and cease, or not commence, to do the acts indemnified
against until such additional indemnity is furnished; provided, in no event shall this sentence require any Lender to
indemnify any Indemnitee Related Party against any liability, obligation, loss, damage, penalty, action, judgment, suit, cost,
expense or disbursement in excess of such Lender’s Pro Rata Share thereof; and provided further, this sentence shall
not be deemed to require any Lender to indemnify any Indemnitee Related Party against any liability, obligation, loss, damage,
penalty, action, judgment, suit, cost, expense or disbursement described in the proviso in the immediately preceding sentence.

 

9.8            Successor
Administrative Agent and Collateral Agent.

 

(a)             Administrative
Agent and Collateral Agent may resign at any time by giving 30 days’ prior written notice thereof to Lenders and Borrower. Upon
any such notice of resignation, Requisite Lenders shall have the right, in consultation with Borrower, to appoint a successor Administrative
Agent and Collateral Agent; provided that in no event shall any such successor Agent be a Defaulting Lender. Upon the acceptance
of any appointment as Administrative Agent and Collateral Agent hereunder by a successor Administrative Agent and Collateral Agent, that
successor Administrative Agent and Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges
and duties of the retiring Administrative Agent and Collateral Agent and the retiring Administrative Agent and retiring Collateral Agent
shall promptly (i) transfer to such successor Administrative Agent and Collateral Agent all sums, Securities and other items of Collateral
held under the Collateral Documents, together with all records and other documents necessary or appropriate in connection with the performance
of the duties of the successor Administrative Agent and successor Collateral Agent under the Credit Documents, and (ii) execute and
deliver to such successor Administrative Agent and successor Collateral Agent such amendments to financing statements, and take such other
actions, as may be necessary or appropriate in connection with the assignment to such successor Administrative Agent and successor Collateral
Agent of the security interests created under the Collateral Documents, whereupon such retiring Administrative Agent and retiring Collateral
Agent shall be discharged from its duties and obligations hereunder. After any retiring Administrative Agent’s and retiring Collateral
Agent’s resignation hereunder as Administrative Agent and Collateral Agent, the provisions of this Section 9 shall inure
to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent and Collateral Agent hereunder.

 

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(b)            Notwithstanding
anything herein to the contrary, Administrative Agent and Collateral Agent may assign their rights and duties as Administrative Agent
and Collateral Agent hereunder to an Affiliate of Crestline without the prior written consent of, or prior written notice to, Borrower
or the Lenders; provided that Borrower and the Lenders may deem and treat such assigning Administrative Agent and assigning Collateral
Agent as Administrative Agent and Collateral Agent for all purposes hereof, unless and until such assigning Administrative Agent or assigning
Collateral Agent, as the case may be, provides written notice to Borrower and the Lenders of such assignment. Upon such assignment and
delivery of such notice to Borrower and Lenders, such Affiliate shall succeed to and become vested with all rights, powers, privileges
and duties as Administrative Agent and Collateral Agent hereunder and under the other Credit Documents.

 

9.9           Collateral
Documents and Guaranty.

 

(a)            Agents
under Collateral Documents and Guaranty. Each Lender hereby further authorizes Administrative Agent or Collateral Agent, as applicable,
on behalf of and for the benefit of Lenders, to be the agent for and representative of Lenders with respect to the Guaranty, the Collateral
and the Collateral Documents. Subject to Section 10.5, without further written consent or authorization from Lenders, Administrative
Agent or Collateral Agent, as applicable may execute and deliver any documents or instruments necessary to (i) release any Lien encumbering
any item of Collateral (A) that is the subject of a sale or other disposition of assets permitted hereby or to which Requisite Lenders
(or such other Lenders as may be required to give such consent under Section 10.5) have otherwise consented or (B) upon
termination of all Commitments and payment in full of all Obligations, or (ii) release any Guarantor from the Guaranty pursuant to
Section 7.12 or with respect to which Requisite Lenders (or such other Lenders as may be required to give such consent under
Section 10.5) have otherwise consented. Upon request by any Agent at any time, the Requisite Lenders will confirm in writing
such Agent’s authority to release its interest in particular types or items of Collateral, or to release any Guarantor from its
obligations under the Guaranty pursuant to this Section 9.9.

 

(b)            Right
to Realize on Collateral and Enforce Guaranty. Anything contained in any of the Credit Documents to the contrary notwithstanding,
(i) no Lender shall have any right individually to realize upon any of the Collateral or to enforce the Guaranty, it being understood
and agreed that all powers, rights and remedies hereunder may be exercised solely by Administrative Agent, on behalf of Lenders in accordance
with the terms hereof and all powers, rights and remedies under the Collateral Documents may be exercised solely by Collateral Agent,
and (ii) in the event of a foreclosure by Collateral Agent on any of the Collateral pursuant to a public or private sale, Collateral
Agent or any Lender may be the purchaser of any or all of such Collateral at any such sale and Collateral Agent, as agent for and representative
of Secured Parties (but not any Lender or Lenders in its or their respective individual capacities unless Requisite Lenders shall otherwise
agree in writing) shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any
portion of the Collateral sold at any such public sale, to use and apply any of the Obligations as a credit on account of the purchase
price for any collateral payable by Collateral Agent at such sale.

 

(c)             No
Duty With Respect to Collateral. No Agent shall be responsible for or have a duty to ascertain or inquire into any representation
or warranty regarding the existence, value or collectability of the Collateral, the existence, priority or perfection of Collateral Agent’s
Lien thereon, or any certificate prepared by any Credit Party in connection therewith, nor shall such Agent be responsible or liable to
the Lenders for any failure to monitor or maintain any portion of the Collateral.

 

9.10          Administrative
Agent May File Proofs of Claim. In case of the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding
relative to any Credit Party, Administrative Agent (irrespective of whether the principal of any Loan shall then be due and payable as
herein expressed or by declaration or otherwise and irrespective of whether Administrative Agent shall have made any demand on Borrower)
shall be entitled and empowered (but not obligated) by intervention in such proceeding or otherwise:

 

(a)             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
and Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders and
Administrative Agent and their respective agents and counsel and all other amounts due the Lenders and Administrative Agent under Sections
2.11, 2.13, 10.2 and 10.3) allowed in such judicial proceeding; and

 

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(b)            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
to make such payments to Administrative Agent and, in the event that Administrative Agent shall consent to the making of such payments
directly to the Lenders, to pay to Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances
of Administrative Agent and its agents and counsel, and any other amounts due Administrative Agent under Sections 2.11, 2.13,
10.2 and 10.3.

 

9.11          Erroneous
Payments.

 

(a)             If
Administrative Agent notifies a Lender or Secured Party, or any Person who has received funds on behalf of a Lender or Secured Party (any
such Lender, Secured Party or other recipient, a “Payment Recipient”) that Administrative Agent has determined in its
reasonable discretion (whether or not after receipt of any notice under immediately succeeding clause (b)) that any funds received by
such Payment Recipient from Administrative Agent or any of its Affiliates were erroneously transmitted to, or otherwise erroneously or
mistakenly received by, such Payment Recipient (whether or not known to such Lender, Secured Party or other Payment Recipient on its behalf)
(any such funds, whether received as a payment, prepayment or repayment of principal, interest, fees, distribution or otherwise, individually
and collectively, an “Erroneous Payment”) and demands the return of such Erroneous Payment (or a portion thereof),
such Erroneous Payment shall at all times remain the property of Administrative Agent and shall be segregated by the Payment Recipient
and held in trust for the benefit of Administrative Agent, and such Lender or Secured Party shall (or, with respect to any Payment Recipient
who received such funds on its behalf, shall cause such Payment Recipient to) promptly, but in no event later than two Business Days thereafter,
return to Administrative Agent the amount of any such Erroneous Payment (or portion thereof) as to which such a demand was made, in same
day funds (in the currency so received), together with interest thereon in respect of each day from and including the date such Erroneous
Payment (or portion thereof) was received by such Payment Recipient to the date such amount is repaid to Administrative Agent in same
day funds at a rate determined by Administrative Agent in accordance with banking industry rules on interbank compensation from time
to time in effect. A notice of Administrative Agent to any Payment Recipient under this clause (a) shall be conclusive, absent manifest
error.

 

(b)             Without
limiting immediately preceding clause (a), each Lender or Secured Party, or any Person who has received funds on behalf of a Lender
or Secured Party, hereby further agrees that if it receives a payment, prepayment or repayment (whether received as a payment,
prepayment or repayment of principal, interest, fees, distribution or otherwise) from Administrative Agent (or any of its
Affiliates) (x) that is in a different amount than, or on a different date from, that specified in a notice of payment,
prepayment or repayment sent by Administrative Agent (or any of its Affiliates) with respect to such payment, prepayment or
repayment, (y) that was not preceded or accompanied by a notice of payment, prepayment or repayment sent by Administrative
Agent (or any of its Affiliates), or (z) that such Lender or Secured Party, or other such recipient, otherwise becomes aware
was transmitted, or received, in error or by mistake (in whole or in part) in each case:

 

(i)            (A) in
the case of immediately preceding clauses (x) or (y), an error shall be presumed to have been made (absent written confirmation from
Administrative Agent to the contrary) or (B) an error has been made (in the case of immediately preceding clause (z)), in each case,
with respect to such payment, prepayment or repayment; and

 

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(ii)            such
Lender or Secured Party shall (and shall cause any other recipient that receives funds on its respective behalf to) promptly (and, in
all events, within one Business Day of its knowledge of such error) notify Administrative Agent of its receipt of such payment, prepayment
or repayment, the details thereof (in reasonable detail) and that it is so notifying Administrative Agent pursuant to this Section 9.11(b).

 

(c)             Each
Lender or Secured Party hereby authorizes Administrative Agent to set off, net and apply any and all amounts at any time owing to such
Lender or Secured Party under any Credit Document, or otherwise payable or distributable by Administrative Agent to such Lender or Secured
Party from any source, against any amount due to Administrative Agent under immediately preceding clause (a) or under the indemnification
provisions of this Agreement.

 

(d)             In
the event that an Erroneous Payment (or portion thereof) is not recovered by Administrative Agent for any reason, after demand therefor
by Administrative Agent in accordance with immediately preceding clause (a), from any Lender that has received such Erroneous Payment
(or portion thereof) (and/or from any Payment Recipient who received such Erroneous Payment (or portion thereof) on its respective behalf)
(such unrecovered amount, an “Erroneous Payment Return Deficiency”), upon Administrative Agent’s notice to such
Lender at any time, (i) such Lender shall be deemed to have assigned its Term Loans with respect to which such Erroneous Payment
was made (the “Erroneous Payment Impacted Class”) in an amount equal to the Erroneous Payment Return Deficiency (or
such lesser amount as Administrative Agent may specify) (such assignment of the Term Loans of the Erroneous Payment Impacted Class, the
 “Erroneous Payment Deficiency Assignment”) at par plus any accrued and unpaid interest (with the assignment fee to
be waived by Administrative Agent in such instance), and is hereby deemed to execute and deliver an Assignment Agreement or subject to
Administrative Agent’s consent, a similar agreement with respect to such Erroneous Payment Deficiency Assignment, and such Lender
shall deliver any Notes evidencing such Term Loans to Borrower or Administrative Agent, (ii) Administrative Agent as the assignee
Lender shall be deemed to acquire the Erroneous Payment Deficiency Assignment, (iii) upon
such deemed acquisition, Administrative Agent as the assignee Lender shall become a Lender hereunder with respect to such Erroneous Payment
Deficiency Assignment and the assigning Lender shall cease to be a Lender hereunder with respect to such Erroneous Payment Deficiency
Assignment, excluding, for the avoidance of doubt, its obligations under the indemnification provisions of this Agreement and (iv) Administrative
Agent may reflect in the Register its ownership interest in the Term Loans subject to the Erroneous Payment Deficiency Assignment. Administrative
Agent may, in its discretion, sell any Term Loans acquired pursuant to an Erroneous Payment Deficiency Assignment and upon receipt of
the proceeds of such sale, the Erroneous Payment Return Deficiency owing by the applicable Lender shall be reduced by the net proceeds
of the sale of such Term Loan (or portion thereof), and Administrative Agent shall retain all other rights, remedies and claims against
such Lender (and/or against any recipient that receives funds on its respective behalf). In addition, each party hereto agrees that, except
to the extent that Administrative Agent has sold a Term Loan (or portion thereof) acquired pursuant to an Erroneous Payment Deficiency
Assignment, and irrespective of whether Administrative Agent may be equitably subrogated, Administrative Agent shall be contractually
subrogated to all the rights and interests of the applicable Lender or Secured Party under the Credit Documents with respect to each Erroneous
Payment Return Deficiency (the “Erroneous Payment Subrogation Rights”).

 

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(e)             The
parties hereto agree that an Erroneous Payment shall not pay, prepay, repay, discharge or otherwise satisfy any Obligations owed by
Borrower or any other Credit Party, except, in each case, to the extent such Erroneous Payment is, and solely with respect to the
amount of such Erroneous Payment that is, comprised of funds received, directly or indirectly, by Administrative Agent from or for
the benefit of Holdings, Borrower or any of their Subsidiaries for the purpose of making a payment to satisfy any Obligations.

 

(f)             To
the extent permitted by applicable law, no Payment Recipient shall assert any right or claim to an Erroneous Payment, and hereby waives,
and is deemed to waive, any claim, counterclaim, defense or right of set-off or recoupment with respect to any demand, claim or counterclaim
by Administrative Agent for the return of any Erroneous Payment received, including without limitation waiver of any defense based on
 “discharge for value” or any similar doctrine.

 

(g)             Each
party’s obligations, agreements and waivers under this Section 9.11 shall survive the resignation or replacement of
Administrative Agent, any transfer of rights or obligations by, or the replacement of, a Lender, the termination of the Commitments and/or
the repayment, satisfaction or discharge of all Obligations (or any portion thereof) under any Credit Document.

 

 9.12                  Lender ERISA Matters.

 

(a)             Each
Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the
date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Agent
and each Joint Lead Arranger and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of Holdings or
any other Loan Party, that at least one of the following is and will be true:

 

(i)       such
Lender is not using “plan assets” (within the meaning of Section 3(42) of ERISA or otherwise) of one or more Benefit
Plans with respect to such Lender’s entrance into, participation in, administration of and performance of the Commitments or any
Credit Document,

 

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

 

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

 

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

 

(b)            In
addition, unless either (1) sub-clause (i) in the immediately preceding clause (a) is true with respect to a Lender or
(2) a Lender has provided another representation, warranty and covenant in accordance with sub-clause (iv) in the immediately
preceding clause (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to,
and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto,
for the benefit of, the Agent and not, for the avoidance of doubt, to or for the benefit of Lead Borrower or any other Loan Party, that
the Agent is not a fiduciary with respect to the assets of such Lender involved in such Lender’s entrance into, participation in,
administration of and performance of the Commitments or any Credit Document (including in connection with the reservation or exercise
of any rights by the Agent under this Agreement, any Credit Document or any documents related hereto or thereto).

 

SECTION 10.       MISCELLANEOUS

 

10.1         Notices.

 

(a)             Notices
Generally. Unless otherwise specifically provided herein, any notice or other communication herein required or permitted to be given
to a Credit Party, Collateral Agent, or Administrative Agent, shall be sent to such Person’s address as set forth on Appendix
B or in the other relevant Credit Document, and in the case of any Lender, the address as indicated on Appendix B or otherwise
indicated to Administrative Agent in writing. Each notice hereunder shall be in writing and may be personally served, telexed or sent
by electronic mail or telefacsimile or United States mail or courier service and shall be deemed to have been given when delivered in
person or by courier service and signed for against receipt thereof, upon receipt of telefacsimile or telex, or three Business Days after
depositing it in the United States mail with postage prepaid and properly addressed; provided, no notice to any Agent shall be
effective until received by such Agent.

 

Any Notice shall be executed
by an Authorized Officer in a writing delivered to Administrative Agent. Neither Administrative Agent nor any Lender shall incur any liability
to Borrower in acting upon any telephonic notice referred to above that Administrative Agent believes in good faith to have been given
by a duly authorized officer or other person authorized on behalf of Borrower or for otherwise acting in good faith.

 

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

 

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

 

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10.2         Expenses.
Whether or not the transactions contemplated hereby shall be consummated, Borrower agrees to pay promptly (a) all Administrative
Agent’s reasonable and documented out-of-pocket costs and expenses of preparation of the Credit Documents (including the reasonable
and documented out- of-pocket fees, charges and disbursements of counsel for Administrative Agent) and any consents, amendments, waivers
or other modifications thereto; (b) all the reasonable and documented out-of-pocket fees, expenses and disbursements of counsel to
Agents in connection with the negotiation, preparation, execution and administration of the Credit Documents and any consents, amendments,
waivers or other modifications thereto and any other documents or matters requested by Borrower; (c) all the reasonable and documented
out-of-pocket costs and expenses of creating and perfecting Liens in favor of Collateral Agent, for the benefit of Secured Parties, including
filing and recording fees, expenses and taxes, stamp or documentary taxes, search fees, title insurance premiums and reasonable fees,
expenses and disbursements of counsel to each Agent and of counsel providing any opinions that any Agent or Requisite Lenders may request
in respect of the Collateral or the Liens created pursuant to the Collateral Documents; (d) all Administrative Agent’s reasonable
and documented out-of-pocket costs and fees, expenses for, and disbursements of any of Administrative Agent’s, auditors, accountants,
consultants or appraisers whether internal or external, and all reasonable and documented out-of-pocket attorneys’ fees incurred
by Administrative Agent; (e) all the reasonable and documented out-of-pocket costs and expenses (including the reasonable and documented
out-of-pocket fees, expenses and disbursements of any appraisers, consultants, advisors and agents employed or retained by Collateral
Agent and its counsel) in connection with the custody or preservation of any of the Collateral; (f) all other reasonable and documented
out-of- pocket costs and expenses incurred by each Agent in connection with the syndication of the Loans and Commitments and the negotiation,
preparation and execution of the Credit Documents and any consents, amendments, waivers or other modifications thereto and the transactions
contemplated thereby; and (g) after the occurrence of a Default or an Event of Default, all reasonable and documented out-of-pocket
costs and expenses, including attorneys’ fees and costs of settlement, incurred by any Agent or any Lender in enforcing any Obligations
of or in collecting any payments due from any Credit Party hereunder or under the other Credit Documents by reason of such Default or
Event of Default (including in connection with the sale of, collection from, or other realization upon any of the Collateral or the enforcement
of the Guaranty) or in connection with any refinancing or restructuring of the credit arrangements provided hereunder in the nature of
a “work out” or pursuant to any insolvency or bankruptcy cases or proceedings.

 

 10.3         Indemnity.

 

(a)            In
addition to the payment of expenses pursuant to Section 10.2, whether or not the transactions contemplated hereby shall
be consummated, each Credit Party agrees to defend (subject to Indemnitees’ selection of counsel), indemnify, pay and hold
harmless, each Agent and Lender, their Affiliates and their respective officers, partners, directors, trustees, employees and agents
of each Agent and each Lender (each, an “Indemnitee”), from and against any and all Indemnified Liabilities; provided,
no Credit Party shall have any obligation to any Indemnitee hereunder with respect to any Indemnified Liabilities to the extent such
Indemnified Liabilities arise from (i) the gross negligence, bad faith, fraud or willful misconduct, as determined by a court
of competent jurisdiction in a final, non-appealable order, of that Indemnitee, (ii) a breach by such Indemnitee of any of its
material obligations hereunder or any other Credit Document, or (iii) any loss, claim, damage, litigation, penalty, expense or
liability solely related to any investigation or proceeding that does not involve an act or omission by any Credit Party and that is
brought by an Indemnitee against another Indemnitee, other than a proceeding against any Agent in its capacity as such. To the
extent that the undertakings to defend, indemnify, pay and hold harmless set forth in this Section 10.3 may be
unenforceable in whole or in part because they are violative of any law or public policy, the applicable Credit Party shall
contribute the maximum portion that it is permitted to pay and satisfy under applicable law to the payment and satisfaction of all
Indemnified Liabilities incurred by Indemnitees or any of them. This Section 10.3(a) shall not apply with respect
to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim.

 

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(b)            To
the extent permitted by applicable law, no party hereto shall assert, and each party hereby waives, any claim against any other party
hereto and their respective Related Parties, on any theory of liability, for special, indirect, consequential or punitive damages (as
opposed to direct or actual damages) (whether or not the claim therefor is based on contract, tort or duty imposed by any applicable legal
requirement) arising out of, in connection with, as a result of, or in any way related to, this Agreement or any Credit Document or any
agreement or instrument contemplated hereby or thereby or referred to herein or therein, the transactions contemplated hereby or thereby,
any Loan or the use of the proceeds thereof or any act or omission or event occurring in connection therewith, and each party hereby waives,
releases and agrees not to sue upon any such claim or any such damages, whether or not accrued and whether or not known or suspected to
exist in its favor. No Person referred to in the immediately preceding sentence shall be liable for any damages arising from the use by
unintended recipients of any information or other materials distributed by it through telecommunications, electronic or other information
transmission systems in connection with this Agreement or the other Credit Documents or the transactions contemplated hereby or thereby.

 

10.4         Set
Off. In addition to any rights now or hereafter granted under applicable law and not by way of limitation of any such rights, upon
the occurrence and during the continuance of any Event of Default, each Lender and each of their respective Affiliates is hereby authorized
by each Credit Party at any time or from time to time subject to the consent of Administrative Agent (such consent not to be unreasonably
withheld or delayed), without prior notice to any Credit Party or to any other Person (other than Administrative Agent), any such prior
notice being hereby expressly waived, to set off and to appropriate and to apply any and all deposits (general or special, including Indebtedness
evidenced by certificates of deposit, but not including trust accounts (in whatever currency)) and any other Indebtedness at any time
held or owing by such Lender to or for the credit or the account of any Credit Party (in whatever currency) against and on account of
the obligations and liabilities of any Credit Party to such Lender hereunder and under the other Credit Documents, including all claims
of any nature or description arising out of or connected hereto or with any other Credit Document, irrespective of whether or not (a) such
Lender shall have made any demand hereunder, (b) the principal of or the interest on the Loans or any other amounts due hereunder
shall have become due and payable pursuant to Section 2 and although such obligations and liabilities, or any of them, may
be contingent or unmatured or (c) such obligation or liability is owed to a branch or office of such Lender different from the branch
or office holding such deposit or obligation or such Indebtedness; provided that in the event that any Defaulting Lender shall
exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately to Administrative Agent for further
application in accordance with the provisions of Section 2.21 and, pending such payment, shall be segregated by such Defaulting
Lender from its other funds and deemed held in trust for the benefit of Administrative Agent and the Lenders, and (y) the Defaulting
Lender shall provide promptly to Administrative Agent a statement describing in reasonable detail the Obligations owing to such Defaulting
Lender as to which it exercised such right of setoff. Each Lender agrees to notify Borrower and Administrative Agent promptly after any
such setoff and application; provided that the failure to give such notice shall not affect the validity of such setoff and application.
The rights of each Lender and their respective Affiliates under this Section 10.4 are in addition to other rights and remedies
(including other rights of setoff) that such Lender or their respective Affiliates may have.

 

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10.5         Amendments
and Waivers.

 

(a)             Requisite
Lenders’ Consent. Subject to Sections 10.5(b) and 10.5(c), no amendment, modification, termination or waiver
of any provision of the Credit Documents, or consent to any departure by any Credit Party therefrom, shall in any event be effective without
the written concurrence of each of the Credit Parties, Administrative Agent and the Requisite Lenders.

 

(b)            Affected
Lenders’ Consent. Without the written consent of each Lender (other than a Defaulting Lender) that would be affected thereby,
no amendment, modification, termination, or consent shall be effective if the effect thereof would:

 

(i)         extend
the scheduled final maturity of any Loan or Note;

 

 (ii)        waive, reduce or postpone any scheduled repayment (but not prepayment);

 

(iii)       reduce
the rate of interest on any Loan (other than any waiver of any increase in the interest rate applicable to any Loan pursuant to Section 2.10)
or any fee payable hereunder;

 

(iv)       extend
the time for payment of any such interest or fees (it being understood that the waiver of any mandatory prepayment shall not constitute
an extension of any time for payment of interest or fees);

 

(v)        reduce
the principal amount of any Loan;

 

(vi)       amend,
modify, terminate or waive any provision of this Section 10.5(b) or Section 10.5(c);

 

(vii)      amend
the definition of “Requisite Lenders” or “Pro Rata Share”; provided, with the consent of
Administrative Agent and the Requisite Lenders, additional extensions of credit pursuant hereto may be included in the determination of
 “Requisite Lenders” or “Pro Rata Share” on substantially the same basis as the Term Loan Commitments,
the Term Loans, the Revolving Commitments and the Revolving Loans are included on the Closing Date;

 

(viii)     release
all or substantially all of the Collateral or all or substantially all of the Guarantors from the Guaranty except as expressly provided
in the Credit Documents; or

 

(ix)        consent
to the assignment or transfer by any Credit Party of any of its rights and obligations under any Credit Document.

 

(c)         Other
Consents. No amendment, modification, termination or waiver
of any provision of the Credit Documents, or consent to any departure by any Credit Party therefrom, shall:

 

(i)         increase
any Commitment of any Lender over the amount thereof then in effect without the consent of such Lender; provided, no amendment,
modification or waiver of any condition precedent, covenant, Default or Event of Default shall constitute an increase in any Commitment
of any Lender;

 

(ii)        amend
the definition of “Requisite Class Lenders” without the consent of Requisite Class Lenders of each
Class; provided, with the consent of Administrative Agent and the Requisite Lenders, additional extensions of credit pursuant
hereto may be included in the determination of such “Requisite Class Lenders” on substantially the same
basis as the Term Loan Commitments, the Term Loans, the Revolving Commitments and the Revolving Loans are included on the
Closing Date;

 

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(iii)       amend,
modify, terminate or waive any provision of Section 3.2(a) with regard to any Credit Extension (irrespective of the Class of
Loan) without the consent of Requisite Class Lenders of the affected Class;

 

(iv)       alter
the required application of any repayments or prepayments as between Classes pursuant to Section 2.15 without the consent
of Requisite Class Lenders of each Class which is being allocated a lesser repayment or prepayment as a result thereof; provided,
Administrative Agent and the Requisite Lenders may waive, in whole or in part, any prepayment so long as the application, as between Classes,
of any portion of such prepayment which is still required to be made is not altered; or

 

(v)        amend,
modify, terminate or waive any provision of Section 9 as the same applies to any Agent, or any other provision hereof as the
same applies to the rights or obligations of any Agent, in each case without the consent of such Agent.

 

(d)            Defaulting
Lenders; Events of Default. Notwithstanding anything contained herein to the contrary, (i) no Defaulting Lender shall have any
right to approve or disapprove any amendment, waiver or consent hereunder, except that (A) the Commitment of such Defaulting Lender
may not be increased or extended without the consent of such Defaulting Lender and (B) subject in all respects to Section 2.21,
no amendment or waiver shall reduce the principal amount of any Loan or reduce the rate of interest on any Loan, in each case, owing to
a Defaulting Lender, without the consent of such Defaulting Lender and (ii) this Agreement may be amended and restated without the
consent of any Lender (but with the consent of Borrower and Administrative Agent) if, upon giving effect to such amendment and restatement,
such Lender shall no longer be a party to this Agreement (as so amended and restated), the Commitments of such Lender shall have terminated
(but such Lender shall continue to be entitled to the benefits of Section 2.15, Section 2.17, Section 2.18(c),
Section 2.19, Section 2.20, Section 10.2 and Section 10.3), such Lender shall have no
other commitment or other obligation hereunder and shall have been paid in full all principal, interest and other amounts owing to it
or accrued for its account under this Agreement. Notwithstanding anything herein or otherwise to the contrary, any Event of Default occurring
hereunder shall continue to exist (and shall be deemed to be continuing) until such time as such Event of Default is waived in writing
in accordance with the terms of this Section 10.5 notwithstanding (x) any attempted cure or other action taken by any
Credit Party or any other Person subsequent to the occurrence of such Event of Default or (y) any action taken or omitted to be taken
by Administrative Agent or any Lender prior to or subsequent to the occurrence of such Event of Default (other than the granting of a
waiver in writing in accordance with the terms of this Section 10.5).

 

(e)             Execution
of Amendments, etc. Administrative Agent may, but shall have no obligation to, with the concurrence of any Lender, execute amendments,
modifications, waivers or consents on behalf of such Lender. Any waiver or consent shall be effective only in the specific instance and
for the specific purpose for which it was given. No notice to or demand on any Credit Party in any case shall entitle any Credit Party
to any other or further notice or demand in similar or other circumstances. Any amendment, modification, termination, waiver or consent
effected in accordance with this Section 10.5 shall be binding upon each Lender at the time outstanding, each future Lender
and, if signed by a Credit Party, on such Credit Party.

 

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10.6         Successors
and Assigns; Participations.

 

(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 Borrower nor any other Credit Party may assign or otherwise transfer
any of its rights or obligations hereunder without the prior written consent of 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 paragraph (b) of this Section 10.6, (ii) by way of participation in accordance with the provisions of
paragraph (d) of this Section 10.6, or (iii) by way of pledge or assignment of a security interest subject
to the restrictions of paragraph (e) of this Section 10.6 (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 paragraph
(d) of this Section 10.6 and, to the extent expressly contemplated hereby, the Related Parties of each of Administrative
Agent and Collateral Agent and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement.

 

(b)            Assignments
by Lenders. Any Lender may at any time assign to one or more Eligible Assignees all or a portion of its rights and obligations under
this Agreement (including all or a portion of its Commitment 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 of Commitments and/or Loans) or contemporaneous assignments to related Approved Funds
(determined after giving effect to such assignments) that equal at least the amount specified in Section 10.6(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 10.6(b)(i)(A), the aggregate amount of the Commitment (which for this purpose includes Loans
and Revolving Exposure outstanding thereunder) or, if the applicable Commitment is not then in effect, the principal outstanding balance
of the Loans and Revolving Exposure of the assigning Lender subject to each such assignment (determined as of the date the Assignment
Agreement with respect to such assignment is delivered to Administrative Agent) shall not be less than $1,000,000, unless each of Administrative
Agent.

 

(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 10.6(b)(i)(B) and,
in addition:

 

(A)            the
consent of Borrower (such consent not to be unreasonably withheld or delayed) shall be required unless (x) an Event of Default has
occurred and is continuing at the time of such assignment or (y) such assignment is to a Lender, an Affiliate of a Lender or an Approved
Fund; provided that Borrower shall be deemed to have consented to any such assignment unless it shall object thereto
by written notice to Administrative Agent within five Business Days after having received notice thereof; and

 

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(B)            the
consent of Administrative Agent (such consent not to be unreasonably withheld or delayed) shall be required for assignments in respect
of any Loans to a Person who is not a Lender, an Affiliate of a Lender or an Approved Fund.

 

(iv)  Assignment
Agreement. The parties to each assignment shall execute and deliver to Administrative Agent an Assignment Agreement, together with
a processing and recordation fee of $3,500; provided that Administrative Agent may, in its sole discretion, elect to waive such
processing and recordation fee in the case of any assignment. The assignee, if it is not a Lender, shall deliver to Administrative Agent
an Administrative Questionnaire, a duly executed W-9 tax form (or such other applicable IRS tax form) and any and all documentation and
other information with respect to the assignee that is required by regulatory authorities under applicable “know your customer,”
and anti-money laundering regulations, including the Act.

 

(v)   No Assignment to Certain Persons. No
such assignment shall be made to (A) Borrower
or any of Borrower’s Affiliates or Subsidiaries or (B) 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 (B).

 

(vi)  No
Assignment to Natural Persons. No such assignment shall be made to a natural Person (or a holding company, investment vehicle or trust
for, or owned and operated for the primary benefit of, 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 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 Borrower and 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 Administrative Agent and each other Lender hereunder (and interest accrued
thereon), and (y) acquire (and fund as appropriate) its full pro rata share of all Loans in accordance with its Pro Rata Share thereof.
Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become
effective under applicable law without compliance with the provisions of this paragraph, then the assignee of such interest shall be deemed
to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs.

 

Subject to acceptance and
recording thereof by Administrative Agent pursuant to Section 10.6(c), from and after the effective date specified in each
Assignment Agreement (which for the avoidance of doubt shall be the date of recordation in the Register), the assignee thereunder shall
be a party to this Agreement and, to the extent of the interest assigned by such Assignment Agreement, 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
Agreement, be released from its obligations under this Agreement (and, in the case of an Assignment Agreement 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 2.18(c), 2.19, 2.20 and 10.2 with respect to facts and circumstances occurring
prior to the effective date
of such assignment; 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 paragraph (d) of this Section 10.6.

 

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(c)             Register.
Administrative Agent, acting solely for this purpose as a non-fiduciary agent of Borrower, shall maintain at one of its offices a copy
of each Assignment Agreement delivered to it and a register for the recordation of the names and addresses of the Lenders, and principal
amounts (and stated interest) of 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 Borrower, Administrative Agent 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 Borrower
and any Lender, at any reasonable time and from time to time upon reasonable prior written notice.

 

(d)             Participations.
Any Lender may at any time, without the consent of, or notice to, Borrower or Administrative Agent, sell participations to any Person
(other than a natural Person, or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of,
a natural Person, or Borrower or any of Borrower’s Affiliates or Subsidiaries) (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) Borrower, Administrative
Agent and 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 9.7 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 described
in Section 10.5(b) and 10.5(c) that affects such Participant. Each Borrower agrees that each Participant
shall be entitled to the benefits of Sections 2.18(c), 2.19 and 2.20
subject to the requirements and limitations therein, including the requirements under Section 2.20 (it being understood that
the documentation required under Section 2.20(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 10.6(b); provided that such Participant
(A) agrees to be subject to the provisions of Section 2.23(a) as if it were an assignee under Section 10.6(b);
and (B) shall not be entitled to receive any greater payment under Section 2.19 or 2.20, 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 Borrower’s request and expense, to use reasonable efforts to cooperate with Borrower to effectuate the provisions of
Section 2.23(b) with respect to any Participant. To the extent permitted by law, each Participant also shall be entitled
to the benefits of Section 10.4 as though it 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 a
non-fiduciary agent of 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 Commitment and/or the Loans or other obligations under the Credit 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 or its other obligations under any Credit 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, Administrative Agent (in its capacity as Administrative
Agent) shall have no responsibility for maintaining a Participant Register.

 

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(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.

 

10.7         [Reserved].

 

10.8         Survival
of Representations, Warranties and Agreements. All representations, warranties and agreements made herein shall survive the execution
and delivery hereof and the making of the Loans. Notwithstanding anything herein or implied by law to the contrary, the agreements of
each Credit Party set forth in Sections 2.18(c), 2.19, 2.20, 10.2, 10.3, 10.4, and 10.10
and the agreements of Lenders set forth in Sections 2.17, 9.3(b) and 9.6 shall survive the payment of the Loans
and the termination hereof.

 

10.9         No
Waiver; Remedies Cumulative. No failure or delay on the part of any Agent or any Lender in the exercise of any power, right or privilege
hereunder or under any other Credit Document shall impair such power, right or privilege or be construed to be a waiver of any default
or acquiescence therein, nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercise
thereof or of any other power, right or privilege. The rights, powers and remedies given to each Agent and each Lender hereby are cumulative
and shall be in addition to and independent of all rights, powers and remedies existing by virtue of any statute or rule of law or
in any of the other Credit Documents or any of the Interest Rate Agreements and Currency Agreements. Any forbearance or failure to exercise,
and any delay in exercising, any right, power or remedy hereunder shall not impair any such right, power or remedy or be construed to
be a waiver thereof, nor shall it preclude the further exercise of any such right, power or remedy.

 

10.10       Marshalling;
Payments Set Aside. Neither any Agent nor any Lender shall be under any obligation to marshal any assets in favor of any Credit Party
or any other Person or against or in payment of any or all of the Obligations. To the extent that any Credit Party makes a payment or
payments to Administrative Agent or Lenders (or to Administrative Agent, on behalf of Lenders), or Administrative Agent, Collateral Agent
or Lenders enforce any security interests or exercise their rights of setoff, and such payment or payments or the proceeds of such enforcement
or setoff or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/or required to be
repaid to a trustee, receiver or any other party under any bankruptcy law, any other state or federal law, common law or any equitable
cause, then, to the extent of such recovery, the obligation or part thereof originally intended to be satisfied, and all Liens, rights
and remedies therefor or related thereto, shall be revived and continued in full force and effect as if such payment or payments had not
been made or such enforcement or setoff had not occurred.

 

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10.11      Severability.
In case any provision in or obligation hereunder or any Note or other Credit Document shall be invalid, illegal or unenforceable in any
jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation
in any other jurisdiction, shall not in any way be affected or impaired thereby.

 

10.12      Obligations
Several; Actions in Concert. The obligations of Lenders hereunder are several and no Lender shall be responsible for the obligations
or Commitment of any other Lender hereunder. Nothing contained herein or in any other Credit Document, and no action taken by Lenders
pursuant hereto or thereto, shall be deemed to constitute Lenders as a partnership, an association, a joint venture or any other kind
of entity. Anything in this Agreement or any other Credit Document to the contrary notwithstanding, each Lender hereby agrees with each
other Lender that no Lender shall take any action to protect or enforce its rights arising out of this Agreement or any Note or otherwise
with respect to the Obligations without first obtaining the prior written consent of Agent or Requisite Lenders (as applicable), it being
the intent of Lenders that any such action to protect or enforce rights under this Agreement and any Note or otherwise with respect to
the Obligations shall be taken in concert and at the direction or with the consent of Agent or Requisite Lenders (as applicable).

 

10.13      Headings.
Section headings herein are included herein for convenience of reference only and shall not constitute a part hereof for any other
purpose or be given any substantive effect.

 

10.14      APPLICABLE
LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED
IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES (OTHER THAN SECTIONS 5-1401 AND 5-1402
OF THE NEW YORK GENERAL OBLIGATIONS LAW) THEREOF.

 

10.15      CONSENT
TO JURISDICTION.

 

(a)            SUBJECT
TO CLAUSE (iv) OF THE FOLLOWING SENTENCE, ALL JUDICIAL PROCEEDINGS BROUGHT AGAINST ANY CREDIT PARTY ARISING OUT OF OR RELATING HERETO
OR ANY OTHER CREDIT DOCUMENT, OR ANY OF THE OBLIGATIONS, SHALL BE BROUGHT IN ANY STATE OR FEDERAL COURT OF COMPETENT JURISDICTION IN THE
STATE, COUNTY AND CITY OF NEW YORK. BY EXECUTING AND DELIVERING THIS AGREEMENT, EACH CREDIT PARTY, FOR ITSELF AND IN CONNECTION WITH ITS
PROPERTIES, IRREVOCABLY (i) ACCEPTS GENERALLY AND UNCONDITIONALLY THE EXCLUSIVE JURISDICTION AND VENUE OF SUCH COURTS; (ii) WAIVES
ANY DEFENSE OF FORUM NON CONVENIENS; (iii) AGREES THAT SERVICE OF ALL PROCESS IN ANY SUCH PROCEEDING IN ANY SUCH COURT MAY BE
MADE BY REGISTERED OR CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO THE APPLICABLE CREDIT PARTY AT ITS ADDRESS PROVIDED IN ACCORDANCE WITH
SECTION 10.1 IS SUFFICIENT TO CONFER PERSONAL JURISDICTION OVER THE APPLICABLE CREDIT PARTY IN ANY SUCH PROCEEDING IN ANY
SUCH COURT, AND OTHERWISE CONSTITUTES EFFECTIVE AND BINDING SERVICE IN EVERY RESPECT; AND (iv) AGREES THAT AGENTS AND LENDERS RETAIN
THE RIGHT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO BRING PROCEEDINGS AGAINST ANY CREDIT PARTY IN THE COURTS OF ANY
OTHER JURISDICTION.

 

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(b)              EACH
PARTY HERETO HEREBY AGREES THAT PROCESS MAY BE SERVED ON IT BY CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO THE ADDRESSES
PERTAINING TO IT AS SPECIFIED IN SECTION 10.1. ANY AND ALL SERVICE OF PROCESS AND ANY OTHER NOTICE IN ANY SUCH ACTION,
SUIT OR PROCEEDING SHALL BE EFFECTIVE AGAINST ANY PARTY HERETO IF GIVEN BY REGISTERED OR CERTIFIED MAIL, RETURN RECEIPT REQUESTED,
OR BY ANY OTHER MEANS OR MAIL WHICH REQUIRES A SIGNED RECEIPT, POSTAGE PREPAID, MAILED AS PROVIDED ABOVE.

 

10.16       WAIVER
OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY AGREES TO WAIVE ITS RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION
BASED UPON OR ARISING HEREUNDER OR UNDER ANY OF THE OTHER CREDIT DOCUMENTS OR ANY DEALINGS BETWEEN THEM RELATING TO THE SUBJECT MATTER
OF THIS LOAN TRANSACTION OR THE LENDER/BORROWER RELATIONSHIP THAT IS BEING ESTABLISHED. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL
ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING
CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. EACH PARTY HERETO ACKNOWLEDGES THAT
THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP, THAT EACH HAS ALREADY RELIED ON THIS WAIVER IN ENTERING INTO
THIS AGREEMENT, AND THAT EACH WILL CONTINUE TO RELY ON THIS WAIVER IN ITS RELATED FUTURE DEALINGS. EACH PARTY HERETO FURTHER WARRANTS
AND REPRESENTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS
FOLLOWING CONSULTATION WITH LEGAL COUNSEL. THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING
(OTHER THAN BY A MUTUAL WRITTEN WAIVER SPECIFICALLY REFERRING TO THIS SECTION 10.16 AND EXECUTED AND DELIVERED BY EACH OF
THE PARTIES HERETO), AND THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS HERETO OR ANY OF
THE OTHER CREDIT DOCUMENTS OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING TO THE LOANS MADE HEREUNDER. IN THE EVENT OF LITIGATION, THIS
AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT.

 

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10.17      Confidentiality.
Each Agent and Lender shall hold all information regarding Holdings and its Subsidiaries and their respective businesses obtained by
such Agent or Lender pursuant to the requirements hereof in accordance with such Agent’s or Lender’s customary
procedures for handling confidential information of such nature, it being understood and agreed by Borrower that, in any event, an
Agent or a Lender may make (i) disclosures of such information to its Affiliates and its Affiliates’ respective current
and prospective equity holders (including without limitation, partners), and Related Parties of such Person and of such
Person’s Affiliates (and to other persons authorized by a Lender or Agent to organize, present or disseminate such information
in connection with disclosures otherwise made in accordance with this Section 10.17), (ii) disclosures of such
information reasonably required by any bona fide or potential assignee, transferee or participant in connection with the
contemplated assignment, transfer or participation by such Lender of any Commitments and/Loans or any participations therein or by
any direct or indirect contractual counterparties (or the professional advisors thereto) in Interest Rate Agreements and Currency
Agreements (provided, such potential assignees, transferees and participants and such counterparties and advisors are advised
of, and agree to be bound by, the provisions of this Section 10.17), (iii) disclosure to any rating agency when
required by it, provided that, prior to any disclosure, such rating agency shall undertake in writing to preserve the
confidentiality of any information relating to the Credit Parties received by it from any of the Agents or any Lender,
(iv) disclosure to any Lender’s financing sources, provided that prior to any disclosure, such financing source is
informed of the confidential nature of the information, (v) in connection with any litigation or dispute (including with respect to
the exercise of remedies) which relates to this Agreement or any other Credit Document to which any Agent or any Lender is a party
or is otherwise subject and (vi) disclosures required or requested by any Governmental Authority or representative thereof
(including any self-regulatory authority, such as the NAIC) purporting to have authority over such Person or its Affiliates,
respective current and prospective equity holders (including without limitation, partners) and Related Parties of such Person and of
such Person’s Affiliates or pursuant to legal or judicial process or other legal proceeding; provided, unless
specifically prohibited by applicable law or court order, such Agent or such Lender, as the case may be, shall make reasonable
efforts to notify Borrower of any request by any Governmental Authority or representative thereof (other than any such request in
connection with any examination of the financial condition or other routine examination of such Lender by such Governmental
Authority) for disclosure of any such information prior to disclosure of such information. In addition, Administrative Agent and the
Lenders may disclose the existence of this Agreement and information about this Agreement to market data collectors, similar service
providers to the lending industry and service providers to the Agents and the Lenders in connection with the administration of this
Agreement, the other Credit Documents, and the Commitments. Notwithstanding the foregoing, on or after the Closing Date,
Administrative Agent may, at its own expense issue news releases and publish “tombstone” advertisements and other
announcements relating to this transaction in newspapers, trade journals and other appropriate media (which may include use of logos
of one or more of the Credit Parties) (collectively, “Trade Announcements”). No Credit Party shall issue, nor
shall it suffer or permit Manager, Sponsor, Sponsor GP or any of their respective affiliates to issue, any Trade Announcement except
(i) disclosures required by applicable law, regulation, legal process or the rules of the Securities and Exchange
Commission or (ii) with the prior written approval of Administrative Agent (not to be unreasonably withheld, delayed or
conditioned).

 

10.18      Usury
Savings Clause. Notwithstanding any other provision herein, the aggregate interest rate charged or agreed to be paid with respect
to any of the Obligations, including all charges or fees in connection therewith deemed in the nature of interest under applicable law
shall not exceed the Highest Lawful Rate. If the rate of interest (determined without regard to the preceding sentence) under this Agreement
at any time exceeds the Highest Lawful Rate, the outstanding amount of the Loans made hereunder shall bear interest at the Highest Lawful
Rate until the total amount of interest due hereunder equals the amount of interest which would have been due hereunder if the stated
rates of interest set forth in this Agreement had at all times been in effect. In addition, if when the Loans made hereunder are repaid
in full the total interest due hereunder (taking into account the increase provided for above) is less than the total amount of interest
which would have been due hereunder if the stated rates of interest set forth in this Agreement had at all times been in effect, then
to the extent permitted by law, Borrower shall pay to Administrative Agent an amount equal to the difference between the amount of interest
paid and the amount of interest which would have been paid if the Highest Lawful Rate had at all times been in effect. Notwithstanding
the foregoing, it is the intention of Lenders and Borrower to conform strictly to any applicable usury laws. Accordingly, if any Lender
contracts for, charges, or receives any consideration which constitutes interest in excess of the Highest Lawful Rate, then any such excess
shall be cancelled automatically and, if previously paid, shall at such Lender’s option be applied to the outstanding amount of
the Loans made hereunder or be refunded to Borrower. In determining whether the interest contracted for, charged, or received by Administrative
Agent or a Lender exceeds the Highest Lawful Rate, such Person may, to the extent permitted by applicable law, (a) characterize any
payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects
thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest, throughout the contemplated
term of the Obligations hereunder.

 

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10.19       Counterparts.
This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed an
original, but all such counterparts together shall constitute but one and the same instrument. Delivery of an executed counterpart
of a signature page of this Agreement or any other Credit Document, or any certificate delivered thereunder, by facsimile or
other electronic transmission shall be effective as delivery of a manually executed counterpart hereof or thereof. The words
 “execution,” “signed,” “signature,” “delivery,” and words of like import as it
relates to the execution and delivery of this Agreement shall be deemed to include an electronic symbol or process attached to a
contract or other record and adopted by a Person with the intent to sign, authenticate or accept such contract or record (each an
 “Electronic Signature”), deliveries or the keeping of records in electronic form, each of which shall be of the
same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a
paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal
Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other
similar state laws based on the Uniform Electronic Transactions Act. Without limiting the generality of the foregoing, each Credit
Party hereby (i) agrees that, for all purposes, including without limitation, in connection with any workout, restructuring,
enforcement of remedies, bankruptcy proceedings or litigation among the parties hereto, electronic images of this Agreement
(including with respect to any signature pages thereto) shall have the same legal effect, validity and enforceability as any
paper original, and (ii) waives any argument, defense or right to contest the validity or enforceability of this Agreement
based solely on the lack of paper original copies of this Agreement, including with respect to any signature pages hereto or
thereto. Upon Administrative Agent’s request, any signature transmitted by facsimile or electronic transmission or Electronic
Signature, in each case, by any Credit Party on any Credit Document or certificate thereunder shall be followed by a “wet
ink” manually executed counterpart promptly sent to Administrative Agent.

 

10.20      Effectiveness.
This Agreement shall become effective upon the execution of a counterpart hereof by each of the parties hereto and receipt by Borrower
and Administrative Agent of written or telephonic notification of such execution and authorization of delivery thereof.

 

10.21       Patriot
Act. Each Lender and Administrative Agent (for itself and not on behalf of any Lender) hereby notifies Borrower that (a) pursuant
to the requirements of the Act, it is required to obtain, verify and record information that identifies Borrower, which information includes
the name and address of Borrower and other information that will allow such Lender or Administrative Agent, as applicable, to identify
Borrower in accordance with the Act and (b) pursuant to the Beneficial Ownership Regulation, it is required to obtain a Beneficial
Ownership Certification.

 

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

 

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

 

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

 

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

 

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

 

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

 

10.23      Guarantor
Assumption. The parties hereto hereby agree that immediately upon the consummation of the Closing Date Acquisition and the making
of the Term Loans hereunder, without further act or deed, (a) Target and its Subsidiaries shall each become a “Guarantor”
hereunder and, without limiting the generality of the foregoing, hereby expressly assumes all rights, duties, obligations and liabilities
of a Guarantor (whether or not due, contingent, liquidated, or otherwise) under and in respect of this Agreement, including all Guaranteed
Obligations (such assumption, the “Guarantor Assumption”), and(b) each reference to a “Guarantor”
or the “Guarantors” in this Agreement and in any other Credit Document shall be deemed to include Target and its Subsidiaries.

 

10.24      Original
Issue Discount. THE TERM LOANS HAVE BEEN ISSUED WITH ORIGINAL ISSUE DISCOUNT FOR UNITED STATES FEDERAL INCOME TAX PURPOSES. THE
ISSUE PRICE, AMOUNT OF ORIGINAL ISSUE DISCOUNT, ISSUE DATE AND YIELD TO MATURITY OF THE TERM LOANS MAY BE OBTAINED BY WRITING
TO ADMINISTRATIVE AGENT AT ITS ADDRESS SET FORTH IN APPENDIX B.

 

10.25       Judgment
Currency. If for the purpose of obtaining judgment in any court it is necessary to convert an amount due hereunder in the currency
in which it is due (the “Original Currency”) into another currency (the “Second Currency”), the
rate of exchange applied shall be that at which, in accordance with normal banking procedures, Administrative Agent could purchase in
the New York foreign exchange market, the Original Currency with the Second Currency on the date two Business Days preceding that on which
judgment is given. Each Credit Party agrees that its obligation in respect of any Original Currency due from it hereunder shall, notwithstanding
any judgment or payment in such other currency, be discharged only to the extent that, on the Business Day following the date Administrative
Agent receives payment of any sum so adjudged to be due hereunder in the Second Currency, Administrative Agent may, in accordance with
normal banking procedures, purchase, in the New York foreign exchange market, the Original Currency with the amount of the Second Currency
so paid; and if the amount of the Original Currency so purchased or could have been so purchased is less than the amount originally due
in the Original Currency, each Credit Party agrees, as a separate obligation and notwithstanding any such payment or judgment, to indemnify
Administrative Agent against such loss. The term “rate of exchange” in this Section 10.25 means the spot rate
at which Administrative Agent, in accordance with normal practices, is able on the relevant date to purchase the Original Currency with
the Second Currency, and includes any premium and costs of exchange payable in connection with such purchase.

 

[Remainder of page intentionally left blank]

 

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

 

	BORROWER:	HPI HOLDCO, LLC
	 	 
	 	 	 
	 	By:	/s/
    Akshay Shah
	 	 	Name:	Akshay Shah
	 	 	Title: 	Secretary
	 	 	 
	HOLDINGS:	HPI HOLDINGS, LLC
	 	 
	 	 	 
	 	By:	/s/
    Akshay Shah
	 	 	Name: 	Akshay Shah
	 	 	Title: 	Secretary
	 	 	 
	SUBSIDIARY GUARANTORS:	AHS GRANITE MERGER SUB, INC.
	 	 
	 	 	 
	 	By:	/s/
    Akshay Shah
	 	 	Name: 	Akshay Shah
	 	 	Title: 	Secretary
	 	 	 
	 	AHS HOLDCO, INC.
	 	 
	 	 	 
	 	By:	/s/
    Akshay Shah
	 	 	Name: 	Akshay Shah
	 	 	Title: 	Secretary
	 	 	 
	 	HEALTH PRIME INTERNATIONAL, LLC
	 	 
	 	 	 
	 	By:	/s/
    Akshay Shah
	 	 	Name: 	Akshay Shah
	 	 	Title: 	Secretary
	 	 	 
	 	PRIME MANAGED BILLING LLC
	 	 
	 	 	 
	 	By: 	/s/
    Akshay Shah
	 	 	Name: 	Akshay Shah
	 	 	Title: 	Secretary and Treasurer

 

[Signature Page to HPI Credit and Guaranty Agreement]

 

     

     

    

 

	 	After giving effect to the Closing Date
    Acquisition:
	 	 
	 	ADVANTEDGE HEALTHCARE HOLDINGS, INC.
	 	 
	 	 	 
	 	By:	/s/
    Akshay Shah
	 	 	Name: 	Akshay Shah
	 	 	Title: 	Secretary and Treasurer
	 	 	 
	 	ADVANTEDGE HEALTHCARE SOLUTIONS, INC.
	 	 
	 	 	 
	 	By: 	/s/
    Akshay Shah
	 	 	Name:	Akshay Shah
	 	 	Title: 	Secretary and Treasurer
	 	 	 
	 	ADVANTEDGE HEALTHCARE SOLUTIONS, INC.
	 	 
	 	 	 
	 	By: 	/s/
    Akshay Shah
	 	 	Name: 	Akshay Shah
	 	 	Title:	 Secretary and Treasurer
	 	 	 
	 	ADVANTEDGE HEALTHCARE SOLUTIONS S.I., INC.
	 	 
	 	 	 
	 	By: 	/s/
    Akshay Shah
	 	 	Name: 	Akshay Shah
	 	 	Title: 	Secretary and Treasurer
	 	 	 
	 	AMSPLUS, INC.
	 	 
	 	 	 
	 	By: 	/s/
    Akshay Shah
	 	 	Name: 	Akshay Shah
	 	 	Title: 	Secretary and Treasurer

 

[Signature Page to HPI Credit and Guaranty Agreement]

 

     

     

    

 

	 	PHYSICIANS’ SERVICE CENTER, INC.
	 	 	 
	 	 	 
	 	By: 	/s/ Akshay Shah
	 	 	Name: 	Akshay Shah
	 	 	Title: 	Secretary and Treasurer
	 	 	 
	 	AHP BILLING SERVICES, INC.
	 	 	 
	 	 	 
	 	By: 	/s/ Akshay Shah
	 	 	Name: 	Akshay Shah
	 	 	Title: 	Secretary and Treasurer
	 	 	 
	 	AHS SERVICES, INC.
	 	 	 
	 	 	 
	 	By: 	/s/ Akshay Shah
	 	 	Name: 	Akshay Shah
	 	 	Title: 	Secretary and Treasurer
	 	 	 
	 	PROFESSIONAL MANAGEMENT, INC.
	 	 	 
	 	 	 
	 	By: 	/s/ Akshay Shah
	 	 	Name: 	Akshay Shah
	 	 	Title: 	Secretary and Treasurer
	 	 	 
	 	FRANK HILL ASSOCIATES, INC.
	 	 	 
	 	 	 
	 	By:	/s/ Akshay Shah
	 	 	Name: 	Akshay Shah
	 	 	Title: 	Secretary and Treasurer

 

[Signature Page to HPI Credit and Guaranty
Agreement]

 

     

     

    

 

	 	MEDICAL ACCOUNT SERVICES, INC.
	 	 	 
	 	 	 
	 	By: 	/s/ Akshay Shah
	 	 	Name: 	Akshay Shah
	 	 	Title: 	Secretary and Treasurer
	 	 	 
	 	ADVANTEDGE WPA, INC.
	 	 	 
	 	 	 
		By:	/s/ Akshay Shah
	 	 	Name:	Akshay Shah
	 	 	Title:	 Secretary and Treasurer

 

[Signature Page to HPI Credit and Guaranty Agreement]

 

     

     

    

 

	 	CRESTLINE DIRECT FINANCE,
L.P.,
	 	as Administrative Agent, Sole Lead Arranger and Collateral
Agent
	 	 	 
		By:	Crestline Direct Finance (GP), L.L.C., 
	 	 	its general partner
	 	 	 
	 	By:	Crestline Investors, Inc.,
its manager
	 	 	 
	 	By:	/s/ Chris Semple
	 	 	Name:	Chris Semple
	 	 	Title:	Managing Director

 

[Signature Page to HPI Credit and Guaranty Agreement]

 

     

     

    

 

 

	LENDERS:	CRESTLINE SPECIALTY LENDING II, L.P. 

AMERICAN NATIONAL INSURANCE COMPANY 

CRESTLINE SPECIALTY LENDING III, L.P.
	 	AMERICAN LIFE & SECURITY CORP. CRESTLINE
    SLF 

AMERICAN LIFE & SECURITY CORP. ALSC CL FW
	 	 
	 	By: Crestline Management, L.P., its investment manager 
	 	 
	 	By: Crestline Investors, Inc., its general partner
	 	 
	 	By:	/s/ Chris Semple
	 	Name: 	Chris Semple
	 	Title:	Managing Director

 

[Signature Page to HPI
Credit and Guaranty Agreement]

 

     

     

    

 

APPENDIX A-1

TO CREDIT AND GUARANTY
AGREEMENT

 

Term Loan Commitments

 

	
Lender
	 	Term Loan Commitment	 	 	Pro 

Rata Share	 
	Crestline Specialty Lending II, L.P.	 	$	14,397,900.00	 	 	 	26.178000	%
	American National Insurance Company	 	$	3,807,692.46	 	 	 	6.923077	%
	Crestline Specialty Lending III, L.P.	 	$	28,121,331.14	 	 	 	51.129692	%
	American Life & Security Corp. Crestline SLF	 	$	1,903,846.23	 	 	 	3.461538	%
	American Life & Security Corp. ALSC CL FW	 	$	6,769,230.17	 	 	 	12.307692	%
	Total	 	$	55,000,000.00	 	 	 	100.00	%

 

    APPENDIX A-1

     

    

 

APPENDIX A-2

TO CREDIT AND GUARANTY
AGREEMENT

 

Revolving Commitments

 

	Lender	 	Revolving Commitment	 	 	Pro 

Rata Share	 
	Crestline Specialty Lending II, L.P.	 	$	523,560.00	 	 	 	26.178000	%
	American National Insurance Company	 	$	138,461.54	 	 	 	6.923077	%
	Crestline Specialty Lending III, L.P.	 	$	1,022,593.84	 	 	 	51.129692	%
	American Life & Security Corp. Crestline SLF	 	$	69,230.77	 	 	 	3.461539	%
	American Life & Security Corp. ALSC CL FW	 	$	246,153.85	 	 	 	12.307693	%
	Total	 	$	2,000,000.00	 	 	 	100	%

 

    APPENDIX A-2

     

    

 

APPENDIX B

TO CREDIT AND GUARANTY
AGREEMENT

 

Notice Addresses

 

To the Credit Parties:

 

c/o HPI Holdings, LLC

174 Waterfront Street, Suite 330

Oxon Hill, Maryland
20745

Attention: Pranil Vadgama, CEO

Email: [REDACTED]

 

    APPENDIX B-1

     

    

 

CRESTLINE DIRECT FINANCE, L.P.

as Administrative Agent, Collateral Agent and Sole Lead Arranger

 

c/o Crestline Investors, Inc.

201 Main Street, Suite 1900

Fort Worth, Texas 76102

Attention: Travis Keith;

and Crestline In-House Counsel

Emails: [REDACTED]

      [REDACTED]

Facsimile: (817) 339-7378

 

with a copy to (which shall not constitute notice):

 

Jones Day

2727 North Harwood Street

Dallas, Texas 75201-1515

Attention:
John Mazey

Telephone: (214) 969-5006

Email: [REDACTED]

 

with a copy to (which shall not constitute notice):

 

Cortland Capital Market Services LLC

225 W. Washington St., 9th Floor

Chicago, Illinois
60606

Attention: Frances Real, Legal
Department

Email: crestlineagency@cortlandglobal.com

Facsimile: (312) 376-0751

 

CRESTLINE SPECIALTY LENDING II, L.P.

AMERICAN NATIONAL INSURANCE
COMPANY

CRESTLINE SPECIALTY LENDING III, L.P.

AMERICAN LIFE & SECURITY CORP. CRESTLINE SLF

AMERICAN LIFE & SECURITY CORP. ALSC CL FW

as Lenders

 

c/o Crestline Investors, Inc.

201 Main Street, Suite 1900

Fort Worth, Texas 76102

Attention: Travis Keith;

and Crestline In-House Counsel

Emails: [REDACTED]

Facsimile: [REDACTED]

 

with a copy to (which shall not constitute notice):

 

Jones Day 

2727 North Harwood Street

Dallas, Texas 75201-1515

Attention: John Mazey

Telephone: [REDACTED]

Email: [REDACTED]

 

    APPENDIX B-2

     

    

 

SCHEDULE 1.1

 

Certain Material Real Estate Assets None.

 

    Schedule 1.1 – 1

     

    

 

SCHEDULE 4.1

 

Jurisdictions of Organization and Qualification

 

	Company	Jurisdiction
	HPI Holdings, LLC	Delaware
	HPI HoldCo, LLC	Delaware
	AHS HoldCo, Inc.	Delaware
	AHS Granite Merger Sub, Inc.	Delaware
	Health Prime International, LLC	Maryland
	Prime Managed Billing LLC	Delaware
	Health Prime Services Pvt. Ltd.	India
	Health Prime Services Costa Rica S.R.L.	Costa Rica
	Advantedge Healthcare Holdings, Inc.	Delaware
	AdvantEdge Healthcare Solutions, Inc.	New York
	Advantedge Healthcare Solutions, Inc.	Delaware
	Professional Management, Inc.	Maryland
	Frank Hill Associates, Inc.	Massachusetts
	Medical Account Services, Inc.	Ohio
	AdvantEdge WPA Inc.	Delaware
	AHS Services, Inc.	Delaware
	Advantedge Healthcare Solutions S.I., Inc.	Delaware
	AMSPlus, Inc.	Massachusetts
	Physicians’ Service Center, Inc.	Illinois
	AHP Billing Services, Inc.	Delaware
	AdvantEdge Healthcare Solutions Private Limited	India

 

    Schedule 4.1 – 1

     

    

 

SCHEDULE 4.2

 

Capital Stock and Ownership

 

		(a)	None.

 

		(b)	Capitalization of Holdings.

 

	Member	 	Class A-1
 Units	 	 	Class A-2
 Units	 	 	Class B
 Units	 	 	Percentage
 Interests	 	 	Initial Capital
 Contributions	 
	HPI Parent, LLC	 	 	53,867	 	 	 	0	 	 	 	0	 	 	 	84.51	%	 	$	66,389,342.32	 
	AVPI, LLC	 	 	942	 	 	 	6,500	 	 	 	0	 	 	 	14.59	%	 	$	7,500,000	 
	M512 Investments, Inc.	 	 	94	 	 	 	0	 	 	 	0	 	 	 	0.18	%	 	$	100,000	 
	Clearstone, LLC	 	 	29	 	 	 	0	 	 	 	0	 	 	 	0.06	%	 	$	30,000	 
	Chris Wang	 	 	18	 	 	 	0	 	 	 	0	 	 	 	0.04	%	 	$	20,000	 
	Dylan Betts	 	 	14	 	 	 	0	 	 	 	0	 	 	 	0.03	%	 	$	15,000	 
	S K Medical Partners, LLC	 	 	98	 	 	 	0	 	 	 	0	 	 	 	0.19	%	 	$	105,000	 
	Raj Shah	 	 	188	 	 	 	0	 	 	 	0	 	 	 	0.37	%	 	$	200,000	 
	Spencer Dahl	 	 	18	 	 	 	0	 	 	 	0	 	 	 	0.04	%	 	$	20,000	 
	Reserved for Management Pool	 	 	0	 	 	 	0	 	 	 	6,500	 	 	 	0.00	%	 	$	0	 
	Total Outstanding:	 	 	55,268	 	 	 	6,500	 	 	 	0	 	 	 	100.00	%	 	$	74,379,342.32	 
	Authorized Totals:	 	 	56,000	 	 	 	6,500	 	 	 	6,500	 	 	 	100.00	%	 	 	Not applicable	 

 

		(c)	

 

	Company	
    Ownership interest

    immediately before Closing 

Date Acquisition
	Ownership interest immediately 

after Closing Date Acquisition
	HPI Holdings, LLC	
    HPI Parent, LLC (87.21%) AVPI, LLC
    (12.05%)

    M512 Investments, Inc. (0.15%) Clearstone, LLC (0.05%)

    Chris Wang (0.03%)

    Dylan Betts (0.02%)

    S K Medical Partners, LLC (0.16%)

    Raj Shah (0.30%)

    Spencer Dahl (0.03%)
	
    HPI Parent, LLC (87.21%) AVPI, LLC (12.05%)

    M512 Investments, Inc. (0.15%) Clearstone, LLC (0.05%)

    Chris Wang (0.03%)

    Dylan Betts (0.02%)

    S K Medical Partners, LLC (0.16%)

    Raj Shah (0.30%)

    Spencer Dahl (0.03%)

	HPI HoldCo, LLC	HPI Holdings, LLC (100%)	HPI Holdings, LLC (100%)
	AHS HoldCo, Inc.	HPI HoldCo, LLC (100%)	HPI HoldCo, LLC (100%)
	AHS Granite Merger Sub, Inc.	AHS HoldCo, Inc. (100%)	Not applicable.
	Health Prime International, LLC	HPI HoldCo, LLC (100%)	HPI HoldCo, LLC (100%)
	Prime Managed Billing LLC	Health Prime International, LLC (100%)	Health Prime International, LLC (100%)
	Health Prime Services Pvt. Ltd.	
    Health Prime International, LLC

    (100%)
	
    Health Prime International, LLC

    (100%)

 

    Schedule 4.2 – 1

     

    

 

	Health Prime Services Costa Rica S.R.L.	Health Prime International, LLC (100%)	Health Prime International, LLC (100%)
	
    Advantedge Healthcare

    Holdings, Inc.
	Not applicable.	AHS HoldCo, Inc. (100%)
	AdvantEdge Healthcare Solutions, Inc. (NY)	Advantedge Healthcare Holdings, Inc. (100%)	Advantedge Healthcare Holdings, Inc. (100%)
	
    Advantedge Healthcare

    Solutions, Inc. (DE)
	
    Advantedge Healthcare Holdings,

    Inc. (100%)
	
    Advantedge Healthcare Holdings,

    Inc. (100%)

	Professional Management, Inc.	Advantedge Healthcare Solutions, Inc. (DE) (100%)	Advantedge Healthcare Solutions, Inc. (DE) (100%)
	Frank Hill Associates, Inc.	
    Advantedge Healthcare Solutions,

    Inc. (DE) (100%)
	
    Advantedge Healthcare Solutions,

    Inc. (DE) (100%)

	Medical Account Services, Inc.	Advantedge Healthcare Solutions, Inc. (DE) (100%)	Advantedge Healthcare Solutions, Inc. (DE) (100%)
	AdvantEdge WPA, Inc.	
    Advantedge Healthcare Solutions,

    Inc. (DE) (100%)
	
    Advantedge Healthcare Solutions,

    Inc. (DE) (100%)

	AHS Services, Inc.	AdvantEdge Healthcare Solutions, Inc. (NY) (100%)	AdvantEdge Healthcare Solutions, Inc. (NY) (100%)
	
    Advantedge Healthcare

    Solutions S.I., Inc.
	
    AdvantEdge Healthcare

    Solutions, Inc. (NY) (100%)
	
    AdvantEdge Healthcare

    Solutions, Inc. (NY) (100%)

	AMSPlus, Inc.	AdvantEdge Healthcare Solutions, Inc. (NY) (100%)	AdvantEdge Healthcare Solutions, Inc. (NY) (100%)
	
    Physicians’ Service Center,

    Inc.
	
    AdvantEdge Healthcare

    Solutions, Inc. (NY) (100%)
	
    AdvantEdge Healthcare

    Solutions, Inc. (NY) (100%)

	AHP Billing Services, Inc.	AdvantEdge Healthcare Solutions, Inc. (NY) (100%)	AdvantEdge Healthcare Solutions, Inc. (NY) (100%)
	AdvantEdge Healthcare Solutions Private Limited	
    AdvantEdge Healthcare Solutions, Inc. (NY) (99%)

    AHS Services, Inc. (1%)
	
    AdvantEdge Healthcare Solutions, Inc. (NY) (99%)

    AHS Services, Inc. (1%)

 

		(d)	

 

	Office of officer or member of the board of directors	Name of officer or member of board of directors
	HPI Holdings, LLC	
    Board of Mangers: Vinod Shah, Michael
    Frost, Raj Shah, Chris Ricaurte and Daniel Rainey Officers: Pranil Vadgama (Treasurer), Akshay

    Shah (Secretary) and Michael Frost (Authorized Signatory)

	HPI HoldCo, LLC	
    Officers: Pranil Vadgama (Chief Executive
    Officer and President) and Akshay Shah

    (Secretary)

	AHS HoldCo, Inc.	
    Board of Directors: Michael Frost,
    Vinod Shah and Daniel Rainey

    Officers: Pranil Vadgama (Chief Executive
    Officer and President) and Akshay Shah (Secretary)

	Health Prime International, LLC	
    Officers: Pranil Vadgama (Chief Executive

    Officer), Akshay Shah (Secretary) and Michael Frost (President)

 

    Schedule 4.2 – 2

     

    

 

	Prime Managed Billing LLC	Officers: Pranil Vadgama (President), and Akshay Shah (Secretary and Treasurer)
	Health Prime Services (India) Pvt. Ltd.	
    Directors: Ketan Shah (Director) and Chirag

    Shah (Director)

	Health Prime Services Costa Rica S.R.L.	Officer: Pranil Vadgama (Chief Executive Officer and President)
	Advantedge Healthcare Holdings, Inc.	
    Board of Directors: Pranil Vadgama
    and Akshay Shah

    Officers:PranilVadgama(President)and Akshay
    Shah (Secretary and Treasurer)

	AdvantEdge Healthcare Solutions, Inc. (NY)	
    Board of Directors: Pranil Vadgama
    and Akshay Shah

    Officers:PranilVadgama(President)and Akshay
    Shah (Secretary and Treasurer)

	Advantedge Healthcare Solutions, Inc. (DE)	
    Board of Directors: Pranil Vadgama
    and Akshay Shah

    Officers:PranilVadgama(President)and Akshay
    Shah (Secretary and Treasurer)

	Professional Management, Inc.	
    Board of Directors: Pranil Vadgama
    and Akshay Shah

    Officers:PranilVadgama(President)and Akshay
    Shah (Secretary and Treasurer)

	Frank Hill Associates, Inc.	
    Board of Directors: Pranil Vadgama
    and Akshay Shah

    Officers:PranilVadgama(President)and Akshay
    Shah (Secretary and Treasurer)

	Medical Account Services, Inc.	
    Board of Directors: Pranil Vadgama
    and Akshay Shah

    Officers:PranilVadgama(President)and Akshay
    Shah (Secretary and Treasurer)

	AdvantEdge WPA, Inc.	
    Board of Directors: Pranil Vadgama
    and Akshay Shah

    Officers:PranilVadgama(President)and Akshay
    Shah (Secretary and Treasurer)

	AHS Services, Inc.	
    Board of Directors: Pranil Vadgama
    and Akshay Shah

    Officers:PranilVadgama(President)and Akshay
    Shah (Secretary and Treasurer)

	Advantedge Healthcare Solutions S.I., Inc.	
    Board of Directors: Pranil Vadgama
    and Akshay Shah

    Officers:PranilVadgama(President)and Akshay
    Shah (Secretary and Treasurer)

	AMSPlus, Inc.	
    Board of Directors: Pranil Vadgama
    and Akshay Shah

    Officers:PranilVadgama(President)and Akshay
    Shah (Secretary and Treasurer)

	Physicians’ Service Center, Inc.	
    Board of Directors: Pranil Vadgama and
    Akshay Shah

    Officers:PranilVadgama(President)and Akshay
    Shah (Secretary and Treasurer)

	AHP Billing Services, Inc.	
    Board of Directors: Pranil Vadgama
    and Akshay Shah

    Officers:PranilVadgama(President)and Akshay
    Shah (Secretary and Treasurer)

	AdvantEdge Healthcare Solutions Private Limited	Directors: Ketan Shah (Director) and Chirag Shah (Director)

 

    Schedule 4.2 – 3

     

    

 

SCHEDULE 4.12

 

Real Estate Assets

 

(a)

 

	Entity of record	Property address	Landlord
	Health Prime International, LLC	174 Waterfront St., National Harbor, MD 20745	NH-J Office/Retail, LLC
	Prime Managed Billing LLC	
    785 West Granada Blvd., Ste 5,

    Ormond Beach, FL 32174
	
    Mclaughlin and Davis

    Partnership, LLC

	Prime Managed Billing LLC	1140 Town Center Dr., Las Vegas, NV 89144	The Canyons 1A, LLC
	Prime Managed Billing LLC	
    1140 Town Center Dr., Las Vegas,

    NV 89144
	The Canyons 1B, LLC
	Prime Managed Billing LLC	136 Capcom Ave., Wake Forest, NC 27587	3 Phoenix, Inc.
	Prime Managed Billing LLC	
    6100 Bandera Rd., San Antonio, TX

    78238
	Omninet Tower, LP
	Health Prime Services Pvt. Ltd.	Plot no. 16/17, Marol Industrial Area, Mulgaon, Mumbai, India 400093	Datamatics Business Solutions Limited
	Health Prime Services Costa Rica S.R.L.	
    3rd
    floor, Plaza Real Cariari, SJ,

    Autopista Gral. Cañas Cruce de, San José,
    San Antonio, Costa Rica 40104
	C Tres Corporate Centre II, S.A.
	AdvantEdge Healthcare Solutions, Inc.	9 Northeastern Blvd., Salem, NH 03079	EIP Northeastern Boulevard, LLC
	
    AdvantEdge Healthcare Solutions,

    Inc.
	
    30 Technology Dr., Ste 1B, Warren,

    NJ 07059
	
    30 Technology PP,

    LLC

	AdvantEdge Healthcare Solutions, Inc.	3181 Black Gap Rd., Chambersburg, PA 17202	Ground Spring, LLC
	Physicians’ Service Center, Inc.	
    520 East 22nd
    St., Lombard, IL

    60148
	Increase Your Profit, LLC
	AdvantEdge Healthcare Solutions, Inc.	
    Unit 530, 530 East 22nd
    St.,

    Lombard, IL 60148
	530
    22nd Street, LLC
	AdvantEdge Healthcare Solutions, Inc.	
    Chapel Place, Building B, Thomas

    More Pkwy., Crestview Hills, KY 41017
	Thomas More/Hemmer IV, Ltd.
	AdvantEdge Healthcare Solutions, Inc.	3333 Madison Pike, Fort Wright, KY 41011, Storage Unit 05127	Highland, LLC (d/b/a 3LSelf Storage)
	AdvantEdge Healthcare Solutions, Inc.	20 Independence Dr., Ste 2B, Freeport, ME 04032	FNT, LLC
	
    AdvantEdge Healthcare Solutions,

    Inc.
	
    3131 S Dixie Dr., Ste 535, Dayton,

    OH 45439
	3131 Dixie Drive, LLC
	AdvantEdge Healthcare Solutions, Inc.	
    5550 Glades Rd., Ste 500, Boca

    Raton, FL 33431
	Town Center Executive Suites
	AdvantEdge Healthcare Solutions Private Limited	
    4th Floor - #99/100,
    4th Floor

    Prestige Towers, Residency Rd., Bangalore, Karnataka, India
    560025
	
    H.E. Abdulla Sait, Mrs. Ayesha Bai, Mrs. Nawsheen

    Mohammed Naveed, Mrs. Shameela Najeeb, Mrs.

	 	 	Fahra Nasser, Mrs. Tabassum Sajad, Hudna Yakub and Mohamed Ameen

 

    Schedule 4.12 – 1

     

    

 

	AdvantEdge Healthcare Solutions Private Limited	
    2nd Floor
    - #99/100, 2nd Floor

    Prestige Towers, Residency Rd., Bangalore, Karnataka INDIA
    560025
	
    Mrs. Shakera Riyaz, Mrs. Almas M. Nenset, Mr.

    Abdul Samad Motiwala, Mr. Ebraheem Motiwala, Mr.

    Abdul Ahad Motiwala, Mr. Mohd Shafee Motiwala,

    Mrs. Almas Farid Ali and Mrs. H. Kavitha

	Professional Management, Inc.	9920 Franklin Square Dr., Ste 120 White Marsh, MD 21236	FDS Franklin 9920, LLC
	AdvantEdge Healthcare Solutions, Inc.	4133 Old Jacksonville Rd., Ste A, B and C, Springfield, IL 62711	Meadowbrook Holdings LLC

 

(b)

 

		1.	Lease Agreement dated February 5, 2010, between NH-J Office/Retail LLC, as landlord, and Health Prime International, LLC, as
tenant, as amended by the First Amendment to Office Lease Agreement dated April 30, 2013 and as amended by the Second Amendment to
Office Lease Agreement dated June 26, 2018.

 

		2.	Lease Agreement dated May 14, 2012, between Mclaughlin and Davis Partnership LLC, as landlord, and Prime Managed Billing LLC,
as tenant, as amended from time to time.

 

		3.	Lease Agreement dated February 28, 2014, between The Canyons 1B LLC, as landlord, and Prime Managed Billing LLC, as tenant, as
amended by the First Amendment to Office Lease dated August 15, 2014, as amended by the Second Amendment to Office Lease dated September 18,
2014 and as amended by the Third Amendment to Office Lease dated on or about July, 2015.

 

		4.	Lease Agreement dated on or about July, 2015, between The Canyons 1A LLC, as landlord, and Prime Managed Billing LLC, as tenant, as
amended from time to time.

 

		5.	Lease Agreement dated March 30, 2017, between 3 Phoenix, Inc., as sub-landlord, and Prime Managed Billing LLC, as sub-tenant,
as amended from time to time.

 

		6.	Lease Agreement dated August 26, 2014, between Omninet Tower, LP, as landlord, and Prime Managed Billing LLC, as tenant, as amended
by the First Amendment to Standard Office Lease dated March 27, 2017.

 

		7.	Leave and License Agreement dated January 14, 2020 between Health Prime Services Pvt. Ltd. and Datamatics Business Solutions
Limited.

 

		8.	Lease Agreement for Office Space dated November 21, 2019 between Health Prime Services Costa Rica S.R.L. and C Tres Corporate
Center II, S.A..

 

    Schedule 4.12 – 2

     

    

 

		9.	Lease Agreement, dated as of November 14, 2003, by and between 530 22nd Street, L.L.C., as landlord, and AdvantEdge Healthcare
Solutions, Inc., as tenant, as amended by that certain First Lease Amendment, dated as
of October 21, 2008, that certain Second Lease Amendment, dated as of November 26, 2013, that certain Third Lease Amendment,
dated as of September 30, 2014, and that certain Fourth Lease Amendment dated as of January 31, 2017.

 

		10.	Lease Agreement, dated as of August 19, 2013, by and between EIP Northeastern Boulevard LLC and AdvantEdge Healthcare Solutions, Inc.,
as amended by that certain First Amendment to Lease, dated as of March 1, 2014.

 

		11.	Agreement of Lease, dated as of September 19, 2018, by and between FDS Franklin 9920, LLC, as landlord, and Professional Management, Inc.,
as tenant.

 

		12.	Lease Agreement, dated as of September 3, 2015, by and between Ground Spring LLC and AdvantEdge Healthcare Solutions, Inc.,
as amended by that certain Addendum, dated April 6, 2017 and that certain Addendum Extension, dated March 25, 2019.

 

		13.	Lease, dated July 8, 2016, by and between Thomas More/Hemmer IV, Ltd. and AdvantEdge Healthcare Solutions, Inc.

 

		14.	Lease Commencement Date Agreement, dated as of October 3, 2016, by and between Thomas More/Hemmer IV, Ltd. and AdvantEdge
Healthcare Solutions, Inc.

 

		15.	Lease Agreement, dated as of August 4, 2006, by and between MBCC 30, LLC and AdvantEdge Healthcare Solutions, Inc., as amended
as amended by that certain First Amendment to Lease Agreement dated May 3, 2007, that certain Second Amendment to Lease Agreement
dated February 29, 2012, that certain Third Amendment to Lease Agreement dated May 23, 2013, that certain Fourth Amendment to
Lease Agreement dated December 18, 2014, that certain Fifth Amendment to Lease Agreement dated November 30, 2016, and that certain
Sixth Amendment to Lease Agreement, dated October 15, 2018, and that certain Seventh Amendment of Lease Agreement, dated as of March 9,
2021.

 

		16.	Lease dated as of January 21, 2004, as amended by that certain First Amendment and Supplement to Lease dated as of June 15,
2009, that certain Second Lease Amendment and Supplement to Lease dated as of March 10, 2011, that certain Third Amendment and Supplement
to Lease dated as of November 12, 2013, and that certain Fourth Amendment and Supplement to Lease dated as of November 16, 2016,
by and among Increase Your Profit, LLC and AdvantEdge Healthcare Solutions, Inc.

 

		17.	Lease Deed, dated as of September 18, 2019, by and between Mr. H.E. Abdulla Sait, Mrs. Ayesha Bai, Mrs. Nawsheen
Mohammed Naveed, Mrs. Shameela Najeeb, Mrs. Fahra Nasser, Mrs. Tabassum Sajad, Hudna Yakub, Mohamed Ameen, and AdvantEdge
Healthcare Solutions Private Limited.

 

		18.	Lease Deed, dated as of September 18, 2019, by and between Mrs. Shakera Riyaz, Mrs. Almas M. Nenset, Mr. Abdul
Samad Motiwala, Mr. Ebraheem Motiwala, Mr. Abdul Ahad Motiwala, Mr. Mohd Shafee Motiwala, Mrs. Almas Farid Ali, Mrs. H.
Kavitha and AdvantEdge Healthcare Solutions Private Limited.

 

    Schedule 4.12 – 3

     

    

 

		19.	Office Building Lease, dated as of September 27, 2010, by and between ICV Dayton, LLC and AdvantEdge Healthcare
                                                                 Solutions, Inc., as amended by that certain First Amendment to Lease, dated as of November 15, 2010, that certain Second
                                                                 Amendment to Lease, dated as of February 1, 2011, that certain
Third Amendment to Lease, dated September 30, 2011, that certain Fourth Amendment to Lease, dated as of November 2012, that
certain Fifth Amendment to Lease, dated as of February 27, 2013, that certain Sixth Amendment to Lease, dated of March 11, 2015.

 

		20.	Maine Commercial Lease Agreement, dated as of February 19, 2020, by and between FNT, LLC and AdvantEdge Healthcare Solutions
MA.

 

		21.	Commercial Lease Agreement, dated as of August 27, 2019, by and between Terrance J. Farmer, Sandra M. Farmer, and Professional
Business Services of Central Illinois, Inc.

 

		22.	Assignment of Commercial Lease Agreement, dated as of October 29, 2020, by and between Professional Business Services of Central
Illinois, Inc., AdvantEdge Healthcare Solutions, Inc., Terrance Farmer and Sandra Farmer.

 

		23.	Service license Agreement, dated as of March 14, 2014, by and between Town Center Executive Suites and AdvantEdge Healthcare
Solutions, Inc.

 

		24.	Monthly Rental Agreement, dated as of September 20, 2018, by and between Highland LLC and AdvantEdge Healthcare Solutions.

 

    Schedule 4.12 – 4

     

    

 

SCHEDULE 4.15

 

Material Contracts

 

		(a)	Material Contracts (customer):

 

		1.	Master Services Agreement dated April 1, 2015, between Health Prime International, LLC and MedStar Shah MSO LLC, as amended by
the First Amendment to Master Services Agreement dated April 1, 2017 and as amended by the Second Amendment to Master Services Agreement
dated March 31, 2020.

 

		2.	Master Services Agreement dated March 16, 2016, between Health Prime International, LLC and Tenet Physician Resources, LLC, as
amended by the First Services Agreement Addendum dated April 23, 2019, as amended by the Second Services Agreement Addendum dated
June 28, 2019, as amended by the Third Services Agreement Addendum dated November 12, 2019 and as amended by the Fourth Services
Agreement Addendum dated on or about December 2020.

 

		3.	Order Form dated on or about July 19, 2019, between Kareo Managed Billing, LLC and CG Medical Associates as amended by the
Addendum dated July 19, 2019.

 

		4.	Revenue Share Agreement dated February 8, 2019, between TSI Healthcare, Inc. and Health Prime International, LLC.

 

		5.	Service Agreement dated June 1, 2020, between Prime Managed Billing LLC and Dynamic Pain and Wellness, LLC.

 

		6.	Services Agreement dated June 30, 2020, between Health Prime International, LLC and ITelagen, LLC as amended by the First Addendum
dated March 3, 2021 and as amended by the Second Addendum dated May 5, 2021.

 

		7.	Services Agreement dated on or about September, 2017, between Health Prime International, LLC and CVG Physicians Group, LLC.

 

		8.	Service Agreement, dated as of July 1, 2016, by and among AdvantEdge Healthcare Solutions, Inc. and Brevard Physician Associates,
as amended by the Amendment thereto, dated as of July 1, 2016.

 

		9.	Service Agreement, dated as of January 1, 2015, by and between AdvantEdge Healthcare Solutions, Inc. and Anesthesia Group
Practice, Inc., as amended by that certain First Amendment, dated as of November 2, 2017, that certain Second Amendment, dated
as of June 1, 2018, that certain Third Amendment, dated as of June 1, 2019 and that certain Fourth Amendment, dated as of July 22,
2019.

 

		10.	Service Agreement, dated January 14, 2020, by and between AdvantEdge Healthcare Solutions IL and Clinical Radiologists, S.C.,
as amended by the Amendment thereto, dated as of June 1, 2020.

 

		11.	Billing Services Agreement, dated as of November 1, 2000, by and between Physicians’ Service Center, Inc. and Midwest
Diagnostic Pathology, S.C., as amended by that certain First Amendment, dated as of February 1, 2009 and that
certain Second Amendment, dated as of January 1, 2014.

 

    Schedule 4.15 – 1

     

    

 

		12.	Service Agreement, dated as of October 1, 2019 by and between AdvantEdge Healthcare Solutions MA and Emerson Practice Associates,
as amended by that certain First Amendment, dated as of September 1, 2020.

 

		13.	Service Bureau and License Agreement, dated as of September 22, 2005, by and between Frank Hill Associates, Inc. (d/b/a
Hill Associates Healthcare Management Systems) and HRI Clinics, Inc. (d/b/a Arbour Counseling Services).

 

		14.	Service Agreement, dated as of May 1, 2019, by and between and Professional Management, Inc., AdvantEdge Healthcare Solutions, Inc.
and Doctors Emergency Service, P.A.

 

		15.	Service Bureau and License Agreement, dated as of May 5, 2011, by and between Frank Hill Associates (d/b/a Lahey), Inc.
and Northeast Behavioral Health Corporation, as amended by that certain First Amendment, dated as of July 1, 2013 and that certain
Second Amendment, dated as of December 1, 2018.

 

		16.	Service Agreement, dated as of July 1, 2018, by and between AdvantEdge Healthcare Solutions, Inc. and Clinical Colleagues, Inc.

 

		17.	Service Agreement, dated as of December 28, 2016, by and between AdvantEdge Healthcare Solutions, Inc. and Anesthesiology
Service Network LLC, as amended by that certain First Amendment, dated as of August 1, 2017 and that certain Second Amendment, dated
as of March 1, 2019.

 

		(b)	Material Contracts (vendor):

 

		1.	Master Services Agreement dated February 1, 2020, between Health Prime International, LLC and Global Healthcare Resource, LLC.

 

		2.	Subscription and Reseller Agreement dated October 31, 2019, between Kareo, Inc. and Kareo Managed Billing, LLC.

 

		3.	Service Agreement, dated as of February 8, 2013, by and between AdvantEdge Healthcare Solutions and Centron Data Services, Inc.

 

		4.	Master Services Agreement for Managed Services, dated as of November 17, 2017, by and between the Company and GeBBS Healthcare
Solutions, Inc., Statement of Work #1 and Statement of Work #2 related thereto, that certain Amendment, dated as of September 18,
2019, and that certain Letter Agreement, dated as of May 29, 2020.

 

    Schedule 4.15 – 2

     

    

 

Schedule 5.21

 

Certain Post-Closing Matters

 

		1.	CFO. Within 180 days after the Closing Date (or such later date as may be agreed to in writing by the Administrative Agent
in its sole discretion), Holdings and Borrower shall each replace their respective Chief Financial Officers with a person who has a background
check performed by a recognized service provider, the results of which background check are acceptable to Administrative Agent in its
sole discretion.

 

		2.	Dematerialization of Shares of Indian Subsidiaries. Within 90 days after the Closing Date (or such later date as may be agreed
to in writing by the Administrative Agent in its sole discretion), the Credit Parties shall:

 

		a.	deliver, or cause to be delivered, to Administrative Agent a non-disposal agreement and other documents reasonably requested by Administrative
Agent (which non-disposal agreement and other documents shall in each case be in form and substance reasonably satisfactory to Administrative
Agent) in order to effect and complete the dematerialization of the shares of the Indian Subsidiaries; and

 

		b.	take such other actions, including, if applicable, the amendment of the Organizational Documents of the Indian Subsidiaries, as Administrative
Agent shall reasonably request in order to effect the dematerialization of the shares of the Indian Subsidiaries and such other matters
related thereto as determined by Administrative Agent in its sole discretion.

 

		3.	Costa Rican Subsidiary. Within 90 days after the Closing Date (or such later date as may be agreed to in writing by the Administrative
Agent in its sole discretion), the Costa Rican Subsidiary shall satisfy the requirements set forth in Section 5.10 of the Credit
Agreement, including but not limited to, the execution and delivery of each document necessary for (i) the Costa Rican Guarantor
to guarantee the Obligations of the Credit Parties under the Credit Documents, (ii) the Costa Rican Guarantor to grant a First Priority
security interest in all of the assets of the Costa Rican Guarantor securing the Obligations under the Credit Documents, (3) the
Costa Rican Guarantor to perfect a First Priority Lien in favor of the Collateral Agent and/or the Lenders, and (4) the Credit Parties
to pledge their equity interests in the Costa Rican Guarantor; in each case, in form and substance reasonably satisfactory to Administrative
Agent.

 

		4.	Information Security and Technology Matters. Within 180 days after the Closing Date (or such later date as may be agreed to
in writing by the Administrative Agent in its sole discretion), Borrower shall, to the extent not already in place:

 

		a.	hire (i) a Chief Information Security Officer who has undergone a background check performed by a recognized service provider,
the results of which background check are acceptable to Administrative Agent in its reasonable discretion, or (ii) Borrower shall
hire a third party service provider who shall provide the services that a Chief Information Security Officer hired under clause (i) would
have provided; and

 

     

     

    

 

		b.	formalize a commercially reasonable information security program that is acceptable to the Administrative Agent in its reasonable
discretion that defines and documents the
core information security processes, including but not limited to: access controls, IT asset management, encryption, data protection
(including but not limited to data privacy and data retention), secure configuration management, vendor risk management, mobile device
management, vulnerability management, patch management, logging/monitoring, incident management, security awareness training, and the
security aspects of business continuity and disaster recovery. Documentation for these areas should include policies, processes, procedures,
and internal controls; and

 

		c.	document and implement commercially reasonable business continuity and disaster recovery plans and create a commercially reasonable
dedicated recovery environment that is acceptable to the Administrative Agent in its reasonable discretion.

 

		5.	Additional Insurance Coverage:

 

		a.	Within 60 days after the Closing Date (or such later date as may be agreed to in writing by the Administrative Agent in its sole discretion),
the Credit Parties shall deliver (i) evidence of insurance coverage of for each Credit Party, complying with Section 5.5, which
evidence shall be in form and substance satisfactory to the Collateral Agent and (ii) endorsements to each property and liability
insurance policy for each Credit Party in accordance with Section 5.5, naming the Collateral Agent as additional insured or lenders’
loss payee, as applicable, each of which shall be in form and substance satisfactory to the Collateral Agent.

 

		b.	Within 90 days after the Closing Date (or such later date as may be agreed to in writing by the Administrative Agent in its sole discretion),
Holdings and the Borrower shall each be required to place liability coverage for its Indian operations in addition to property and liability
coverage for its Costa Rican operations, the coverage of which to be acceptable to the Administrative Agent in its sole discretion.

 

		6.	Control Agreements. Within 60 days after the Closing Date (or such later date as may be agreed to in writing by the Administrative
Agent in its sole discretion), the Credit Parties shall deliver, or cause to be delivered, to Collateral Agent, deposit account control
agreements and securities account control agreements required in order to establish the Collateral Agent’s “control”
(within the meaning of the UCC) over all Deposit Accounts and Securities Accounts (in each case, other than Excluded Accounts), in each
case executed by the applicable Credit Party and the applicable depository bank or securities intermediary and otherwise in form and substance
reasonably satisfactory to the Administrative Agent.

 

		7.	Collateral Assignment of BI Insurance. Within 60 days after the Closing Date (or such later date as may be agreed in writing
by the Administrative Agent in its sole discretion), the Credit Parties shall deliver, or cause to be delivered to Collateral Agent, the
Collateral Assignment of BI Insurance.

 

		8.	Landlord Collateral Access Agreements. Within 60 days after the Closing Date (or such later date as may be agreed to in writing
by the Administrative Agent in its sole discretion), the Credit Parties shall use its commercially reasonable efforts to deliver, or cause
to be delivered to Collateral Agent a Landlord Collateral Access Agreements with respect to any leased property at (i) at which such
Credit Party maintains its headquarters or (ii) at which Collateral with a value of more than $250,000 is located, in each case executed
and delivered by the landlord of any Leasehold Property and by the applicable Credit Party.

 

     

     

    

 

		9.	Certificate of Merger. Within 2 Business days after the Closing Date, the Credit Parties shall deliver a copy of the certificate
of merger filed with the Secretary of State of State of Delaware evidencing the merger of AHS Granite Merger Sub, Inc. into AdvantEdge
Healthcare Holdings, Inc.

 

		10.	Release of Liens. Within 60 days after the Closing Date, the Borrower and the other Credit Parties shall use their commercially
reasonable efforts to cause to be released, and to deliver, or cause to be delivered, to the Administrative Agent evidence, in form and
substance satisfactory to the Administrative Agent, of the discharge of the:

 

		a.	lien evidenced by the UCC-1 finance statement in favor of U.S. Small Business Administration, as “Secured Party”, over
Health Prime International LLC, as “Debtor”, filed with the Maryland Department of Assessments and Taxation on September 22,
2020 and with the with the filing number 200922-0843000; and

 

		b.	tax liens in favor of the New York Statement Department of Taxation and Finance over Advantedge Healthcare Solutions, Inc. with
respect to (i) the franchise tax returns for the period from December 31, 2011 to December 31, 2013 for Advantedge Healthcare
Solutions, Inc. that have not been filed and (ii) the franchise tax payments for the period from December 31, 2011 to December 31,
2013 for Advantedge Healthcare Solutions, Inc. that are past due.

 

     

     

    

 

SCHEDULE 6.1

 

Certain Indebtedness

 

		1.	Capital Leases:

 

		a.	Capital Agreement dated June 29, 2020, between Health Prime International, LLC and SHI International Corp.

 

		b.	Agreement dated June 29, 2020 between Health Prime International, LLC and Dell Financial Services L.L.C.

 

		2.	Indebtedness comprised of the Earnout Payment (as defined in the Closing Date Acquisition Agreement).

 

    Schedule 6.1 – 1

     

    

 

SCHEDULE 6.2

 

Certain Liens

 

	Debtor	File Number or 

Reference	Secured Party	Filing Date
	
    Health Prime International, LLC
	200520-1051001	
    Dell Financial Services, L.L.C.
	5/20/2020
	Health Prime International, LLC	200707-1642000	Shi International Corp.	7/7/2020
	
    AdvantEdge Healthcare Solutions, Inc. (DE)
	2013 1406090	
    Dell Financial Services, L.L.C.
	4/12/2013

 

Liens incurred in respect of the Escrow Amount (as defined in the Closing
Date Acquisition Agreement) and the accounts to which any portion of the Escrow Amount is credited.

 

Subject to the obligations of the Credit Parties under item 10 of Schedule
5.21 of the Credit Agreement:

 

	Debtor	File Number or 

Reference	Secured Party	Filing Date
	
    Health Prime International, LLC
	200922-0843000	
    U.S. Small Business Administration
	9/22/2020
	Advantedge Healthcare Solutions, Inc. (DE)1	Not available	New York State Department of Taxation and Finance	Not available

 

 

		1	This lien relates to a franchise tax return (i.e. biennial statement) for the period from December 31, 2011 through to December 31,
2013. To the best of the Credit Parties’ knowledge, all franchise taxes due for such period have been paid.

 

    Schedule 6.2 – 1

     

    

 

SCHEDULE 6.7

 

Certain Investments None.

 

    Schedule 6.7 – 1

     

    

 

SCHEDULE 6.12

 

Certain Affiliate Transactions

 

		(a)	Services Agreement dated May 13, 2021, between Health Prime International, LLC and MDS Medical, LLC.

 

    Schedule 6.12 – 1

     

    

 

EXHIBIT A-1
TO
 CREDIT AND GUARANTY AGREEMENT

 

[FORM OF] FUNDING NOTICE

 

Date: [                ,
20__]

 

Reference
is made to the Credit and Guaranty Agreement, dated as of [               ] [__], 2021 (as amended, restated,
replaced, supplemented or otherwise modified from time to time, the “Credit Agreement”; the terms defined therein and
not otherwise defined herein being used herein as therein defined), by and among HPI HOLDCO, LLC, a Delaware limited liability
company (the “Borrower”), HPI HOLDINGS, LLC, a Delaware limited liability company (“Holdings”),
CERTAIN SUBSIDIARIES OF HOLDINGS, as Guarantors, the Lenders party thereto from time to time, and CRESTLINE DIRECT FINANCE,
L.P. (“Crestline”), as Administrative Agent and Collateral Agent.

 

Pursuant
to Section [2.1][2.3] of the Credit Agreement, Borrower desires that Lenders make the following Loans to Borrower in accordance with
the applicable terms and conditions of the Credit Agreement on [the Closing Date][           , 20__] (the “Credit Date”):

 

		1.	[Term Loans][Revolving Loans]

 

		□	Base Rate Loans:	$[________]

 

		□	LIBOR Rate Loans, with an Initial Interest Period of [one month] [[three months]:	$[________]

 

Each of the undersigned Authorized Officers hereby
represents, warrants and certifies on behalf of the Borrower as of the Credit Date that:

 

(i)            attached
hereto as Exhibit A is a true, correct and complete flow of funds memorandum in connection with the Term Loans requested on
the Credit Date and Borrower directs the Administrative Agent to disburse such Term Loans in accordance therewith;

 

(ii)            [the
representations and warranties contained in each of the Credit Documents are true and correct in all material respects (other than those
representations and warranties that are expressly qualified by a Material Adverse Effect or other materiality, in which case such representations
and warranties are true and correct in all respects), except to the extent such representations and warranties specifically relate to
an earlier date, in which case such representations and warranties are true and correct in all material respects (other than those representations
and warranties that are expressly qualified by a Material Adverse Effect or other materiality, in which case such representations and
warranties are true and correct in all respects) on and as of such earlier date;

 

(iii)            after
making the Credit Extensions requested on the Credit Date (x) the Total Utilization of Revolving Commitments does not exceed the
Revolving Commitments then in effect, and (y) Availability is $0 or greater;

 

     

     

    

 

EXHIBIT A-1

 

     

     

    

 

(iv)            no
event has occurred and is continuing or would result from the consummation of the borrowing contemplated hereby that would constitute
an Event of Default or a Default; and

 

(v)            the
Total Leverage Ratio determined on a pro forma basis as of the Credit Date after giving effect to the Credit Extensions on the Credit
Date does not exceed the maximum Total Leverage Ratio permitted as of the last day of the immediately preceding Fiscal Quarter pursuant
to Section 6.8(b) of the Credit Agreement.]1

 

[Signature page follows]

 

 

 

1 NTD: Include clauses (ii)-(v) if requesting the
borrowing of a Revolving Loan after the Closing Date.

 

    EXHIBITA-1-2

     

    

 

IN WITNESS WHEREOF,
Borrower has caused this Funding Notice to be duly executed and delivered by its duly authorized officer as of the date first written
above.

 

	 	HPI HOLDCO, LLC
	 	 	 
	 	 	 
		By:	 
	 	 	Name:
	 	 	Title:

 

    EXHIBITA-1-3

     

    

 

EXHIBIT A-2 TO

CREDIT AND GUARANTY
AGREEMENT

 

CONVERSION/CONTINUATION NOTICE

 

Date: [     ,
20 ]

 

Reference
is made to the Credit and Guaranty Agreement, dated as of [     ] [ ], 2021 (as amended, restated,
replaced, supplemented or otherwise modified from time to time, the “Credit Agreement”; the terms defined therein and
not otherwise defined herein being used herein as therein defined), by and among HPI HOLDCO, LLC, a Delaware limited liability
company (the “Borrower”), HPI HOLDINGS, LLC, a Delaware limited liability company (“Holdings”),
CERTAIN SUBSIDIARIES OF HOLDINGS, as Guarantors, the Lenders party thereto from time to time, and CRESTLINE DIRECT FINANCE,
L.P. (“Crestline”), as Administrative Agent and Collateral Agent.

 

Pursuant to Section 2.9
of the Credit Agreement, Borrower desires to convert or to continue the following Loans, each such conversion and/or continuation to be
effective as of [         , 20__]:

 

		1.	Term Loans:

 

		$[,     ,     ]	LIBOR Rate Loans to be continued with Interest Period of month(s)

 

		$[,     ,     ]	Base Rate Loans to be converted to LIBOR Rate Loans with Interest Period ofmonth(s)

 

	 	$[,     ,     ]	LIBOR Rate Loans to be converted to Base Rate Loans

 

		2.	Revolving Loans:

 

		$[,     ,     ]	LIBOR Rate Loans to be continued with Interest Period month(s)

 

		$[,     ,     ]	Base Rate Loans to be converted to LIBOR Rate Loans with Interest Period ofmonth(s)

 

		$[,     ,     ]	LIBOR Rate Loans to be converted to Base Rate Loans

 

[Signature page follows]

 

    EXHIBITA-2-1

     

    

 

Borrower hereby certifies
that as of the date hereof, no event has occurred and is continuing or would result from the consummation of the conversion and/or continuation
contemplated hereby that would constitute an Event of Default or a Default.

 

	 	HPI HOLDCO, LLC
	 	 	 
	 	 	 
		By:	 
	 	 	Name:
	 	 	Title:

 

    EXHIBITA-2-2

     

    

 

EXHIBIT B-1 TO

CREDIT AND GUARANTY
AGREEMENT

 

[FORM OF]

 

TERM LOAN NOTE

 

$[           ]

	[mm/dd/yy]	New York, New York

 

FOR
VALUE RECEIVED, HPI HOLDCO, LLC, a Delaware limited liability company (the “Borrower”), promises to pay
to [NAME OF LENDER] (“Payee”) or its registered assigns the principal amount of [         ]
and [_]/100 Dollars ($[           ]).

 

The Borrower also promises
to pay interest on the unpaid principal amount hereof, from the date hereof until paid in full in cash, at the rates and at the times
which shall be determined in accordance with the provisions of that certain Credit and Guaranty Agreement, dated as of [_] [_], 2021 (as
amended, restated, replaced, supplemented or otherwise modified from time to time, the “Credit Agreement”; the terms
defined therein and not otherwise defined herein being used herein as therein defined), by and among the Borrower, HPI Holdings, LLC,
a Delaware limited liability company (“Holdings”), certain Subsidiaries of Holdings, as Guarantors, the Lenders party
thereto from time to time, and Crestline Direct Finance, L.P., as Administrative Agent and Collateral Agent.

 

The Borrower shall make scheduled
principal payments on this Term Loan Note (this “Note”) as set forth in Section 2.12 of the Credit Agreement.

 

This Term Loan Note is one
of the “Term Loan Notes” referenced in the Credit Agreement and is issued pursuant to and entitled to the benefits of the
Credit Agreement, to which reference is hereby made for a more complete statement of the terms and conditions under which the Term Loan
evidenced hereby was made and is to be repaid.

 

All payments of principal
and interest in respect of this Note shall be made in lawful money of the United States of America in same day funds at the Principal
Office of Administrative Agent or at such other place as shall be designated in writing for such purpose in accordance with the terms
of the Credit Agreement. Unless and until an Assignment Agreement effecting the assignment or transfer of the obligations evidenced hereby
shall have been accepted by Administrative Agent and recorded in the Register, the Borrower, each Agent and Lenders shall be entitled
to deem and treat Payee as the owner and holder of this Note and the obligations evidenced hereby. Payee hereby agrees, by its acceptance
hereof, that before disposing of this Note or any part hereof it will make a notation hereon of all principal payments previously made
hereunder and of the date to which interest hereon has been paid; provided, the failure to make a notation of any payment made
on this Note shall not limit or otherwise affect the obligations of the Borrower hereunder with respect to payments of principal of or
interest on this Note.

 

This Note is subject to mandatory
prepayment and to prepayment at the option of the Borrower, each as provided in the Credit Agreement and, as applicable, the Fee Letter.

 

THIS NOTE HAS BEEN ISSUED
WITH ORIGINAL ISSUE DISCOUNT FOR UNITED STATES FEDERAL INCOME TAX PURPOSES. THE ISSUE PRICE, AMOUNT OF ORIGINAL ISSUE DISCOUNT, ISSUE
DATE AND YIELD TO MATURITY OF THIS NOTE MAY BE OBTAINED BY WRITING TO ADMINISTRATIVE AGENT AT ITS ADDRESS SET FORTH IN APPENDIX B
OF THE CREDIT AGREEMENT.

 

    EXHIBIT B-1-1

     

    

 

THIS NOTE AND THE RIGHTS AND
OBLIGATIONS OF THE BORROWER AND PAYEE HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL
LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL
OBLIGATIONS LAW) THEREOF.

 

BORROWER HEREBY AGREES TO
WAIVE ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING HEREUNDER OR UNDER ANY OF THE OTHER CREDIT DOCUMENTS.
THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE
TO THE SUBJECT MATTER HEREOF, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS AND ALL OTHER COMMON LAW AND STATUTORY
CLAIMS. BORROWER FURTHER WARRANTS AND REPRESENTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT IT KNOWINGLY AND VOLUNTARILY
WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED
EITHER ORALLY OR IN WRITING (OTHER THAN BY A MUTUAL WRITTEN WAIVER EXECUTED AND DELIVERED IN ACCORDANCE WITH SECTION 10.5 OF THE
CREDIT AGREEMENT), AND THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS HERETO. IN THE EVENT
OF LITIGATION, THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT.

 

Upon the occurrence and during
the continuance of an Event of Default, the unpaid balance of the principal amount of this Note, together with all capitalized interest
thereon and all other accrued and unpaid interest thereon, may become, or may be declared to be, due and payable in the manner, upon the
conditions and with the effect provided in the Credit Agreement.

 

The terms of this Note are
subject to amendment only in the manner provided in the Credit Agreement.

 

No reference herein to the
Credit Agreement and no provision of this Note or the Credit Agreement shall alter or impair the obligations of Borrower, which are absolute
and unconditional, to pay the principal of and interest on this Note at the place, at the respective times, and in the currency herein
prescribed.

 

Borrower promises to pay all
reasonable and documented out-of-pocket costs and expenses, including reasonable and documented out-of-pocket attorneys’ fees, all
as provided in the Credit Agreement, incurred in the collection and enforcement of this Note. Borrower and any endorsers of this Note
hereby consent to renewals and extensions of time at or after the maturity hereof, without notice, and hereby waive diligence, presentment,
protest, demand notice of every kind and, to the full extent permitted by law, the right to plead any statute of limitations as a defense
to any demand hereunder.

 

[Signature page follows]

 

    EXHIBIT B-1-2

     

    

 

IN WITNESS WHEREOF,
Borrower has caused this Note to be duly executed and delivered by its duly authorized officer as of the date and at the place first written
above.

 

	 	HPI HOLDCO, LLC
	 	 	 
	 	 	 
		By:	 
	 	 	Name:
	 	 	Title:

 

    EXHIBIT B-1-3

     

    

 

EXHIBIT B-2 TO

CREDIT AND GUARANTY
AGREEMENT

 

REVOLVING LOAN NOTE

 

$[     ,     ,     ]

	[mm/dd/yy]	New York, New York

 

FOR
VALUE RECEIVED, HPI HOLDCO, LLC, a Delaware limited liability company (the “Borrower”), promises
to pay to [NAME OF LENDER] (“Payee”) or its registered assigns the principal amount equal to the lesser of (a) [     ]
and [_]/100 Dollars ($[     ]) and (b) the unpaid principal
amount of all advances made by Payee to Borrower as Revolving Loans under the Credit Agreement referred to below.

 

The Borrower also promises
to pay interest on the unpaid principal amount hereof, from the date hereof until paid in full, at the rates and at the times which shall
be determined in accordance with the provisions of that certain Credit and Guaranty Agreement, dated as of [ ] [ ], 2021 (as amended,
restated, replaced, supplemented or otherwise modified from time to time, the “Credit Agreement”; the terms defined
therein and not otherwise defined herein being used herein as therein defined), by and among the Borrower, HPI Holdings, LLC, a Delaware
limited liability company (“Holdings”), certain Subsidiaries of Holdings, as Guarantors, the Lenders party thereto
from time to time, and Crestline Direct Finance, L.P., as Administrative Agent and Collateral Agent.

 

This Revolving Loan Note (this
 “Note”) is one of the “Revolving Loan Notes” referenced in the Credit Agreement and is issued pursuant
to and entitled to the benefits of the Credit Agreement, to which reference is hereby made for a more complete statement of the terms
and conditions under which a Revolving Loan evidenced hereby was made and is to be repaid.

 

All payments of principal
and interest in respect of this Note shall be made in lawful money of the United States of America in same day funds at the Principal
Office of Administrative Agent or at such other place as shall be designated in writing for such purpose in accordance with the terms
of the Credit Agreement. Unless and until an Assignment Agreement effecting the assignment or transfer of the obligations evidenced hereby
shall have been accepted by Administrative Agent and recorded in the Register, Borrower, each Agent and Lenders shall be entitled to deem
and treat Payee as the owner and holder of this Note and the obligations evidenced hereby. Payee hereby agrees, by its acceptance hereof,
that before disposing of this Note or any part hereof it will make a notation hereon of all principal payments previously made hereunder
and of the date to which interest hereon has been paid; provided, the failure to make a notation of any payment made on this Note
shall not limit or otherwise affect the obligations of Borrower hereunder with respect to payments of principal of or interest on this
Note.

 

This Note is subject to mandatory
prepayment and to prepayment at the option of Borrower, each as provided in the Credit Agreement.

 

THIS NOTE AND THE RIGHTS AND
OBLIGATIONS OF BORROWER AND PAYEE HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL
LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL
OBLIGATIONS LAW) THEREOF.

 

    EXHIBIT B-2-1

     

    

 

BORROWER HEREBY AGREES
TO WAIVE ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING HEREUNDER OR UNDER ANY OF THE OTHER CREDIT
DOCUMENTS. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT
AND THAT RELATE TO THE SUBJECT MATTER HEREOF, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS AND ALL OTHER
COMMON LAW AND STATUTORY CLAIMS. BORROWER FURTHER WARRANTS AND REPRESENTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL
AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. THIS WAIVER IS
IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING (OTHER THAN BY A MUTUAL WRITTEN WAIVER EXECUTED
AND DELIVERED IN ACCORDANCE WITH SECTION 10.5 OF THE CREDIT AGREEMENT), AND THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT
AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS HERETO. IN THE EVENT OF LITIGATION, THIS AGREEMENT MAY BE FILED AS A WRITTEN
CONSENT TO A TRIAL BY THE COURT.

 

Upon the occurrence and during
the continuance of an Event of Default, the unpaid balance of the principal amount of this Note, together with all capitalized interest
thereon and all other accrued and unpaid interest thereon, may become, or may be declared to be, due and payable in the manner, upon the
conditions and with the effect provided in the Credit Agreement.

 

The terms of this Note are
subject to amendment only in the manner provided in the Credit Agreement.

 

No reference herein to the
Credit Agreement and no provision of this Note or the Credit Agreement shall alter or impair the obligations of Borrower, which are absolute
and unconditional, to pay the principal of and interest on this Note at the place, at the respective times, and in the currency herein
prescribed.

 

Borrower promises to pay all
reasonable and documented out-of-pocket costs and expenses, including reasonable and documented out-of-pocket attorneys’ fees, all
as provided in the Credit Agreement, incurred in the collection and enforcement of this Note. Borrower and any endorsers of this Note
hereby consent to renewals and extensions of time at or after the maturity hereof, without notice, and hereby waive diligence, presentment,
protest, demand notice of every kind and, to the full extent permitted by law, the right to plead any statute of limitations as a defense
to any demand hereunder.

 

[Signature page follows]

 

    EXHIBIT B-2-2

     

    

 

IN WITNESS WHEREOF,
Borrower has caused this Note to be duly executed and delivered by its duly authorized officer as of the date and at the place first written
above.

 

	 	HPI HOLDINGS, LLC
	 	 	 
	 	 	 
		By:	 
	 	 	Name:
	 	 	Title:

 

    EXHIBIT B-2-3

     

    

 

EXHIBIT C TO

CREDIT AND GUARANTY
AGREEMENT

 

[FORM OF]

 

COMPLIANCE CERTIFICATE

 

[            ],
20[_]

 

THE UNDERSIGNED HEREBY CERTIFIES AS FOLLOWS:

 

1.            I
am an Authorized Officer of HPI HOLDINGS, LLC, a Delaware limited liability company (“Holdings”).

 

2.            I
have reviewed the terms of that certain Credit and Guaranty Agreement, dated as of [        ]
[_], 2021 (as amended, restated, replaced, supplemented or otherwise modified from time to time, the “Credit Agreement”;
the terms defined therein and not otherwise defined herein being used herein as therein defined), by and among Holdings, HPI HOLDCO,
LLC, a Delaware limited liability company (“Borrower”), CERTAIN SUBSIDIARIES OF HOLDINGS, as Guarantors,
the Lenders party thereto from time to time, and CRESTLINE DIRECT FINANCE, L.P., as Administrative Agent and Collateral Agent,
and I have made, or have caused to be made under my supervision, a review in reasonable detail of the transactions and condition of the
Credit Parties during the accounting period covered by the attached financial statements.

 

3.            The
review and examination described in paragraph 2 above did not disclose, and I have no knowledge of, the existence of any condition or
event which constitutes an Event of Default or Default during or at the end of the accounting period covered by the attached financial
statements or as of the date of this Compliance Certificate, except as set forth in a separate attachment, if any, to this Compliance
Certificate, describing in reasonable detail, the nature of the condition or event, the period during which such condition or event has
existed and the action which the Borrower, Holdings and/or the applicable Subsidiary has taken, is taking, or proposes to take with respect
to each such condition or event.

 

4.            Attached
as Annex B hereto is (a) a summary of the accounts receivable aging report of each Credit Party as of the end of the accounting
period covered by the attached financial statements, and (b) a summary of accounts payable aging report of each Credit Party as of
the end of the accounting period covered by the attached financial statements.

 

5.            Attached
hereto as Annex C is written evidence of the Cash and Cash Equivalents held by Holdings and each Subsidiary in each country in
which Holdings or any Subsidiary does business (other than the United States) as of the date hereof.

 

[6. Attached as Annex
D hereto is a list of all registrations of any copyright, or filings of any patent or trademark application, including any subsequent
ownership right of any Credit Party in or to any registered copyright, patent or registered trademark not shown in the Credit Documents
or any previous notice delivered pursuant to Section 5.1(g) of the Credit Agreement.]1

 

 

 

1 To be included with all Compliance
Certificates delivered with financial statements pursuant to Section 5.1(b) of the Credit Agreement.

 

    EXHIBIT C-1

     

    

 

[7. Except as described on
Annex E hereto, since the [Closing Date] [date of the most recent certificate delivered in connection with the annual financial
statements], there have been no changes to the information provided in the Perfection Certificate;]1

 

 

 

1 To be included with all Compliance
Certificates delivered with financial statements pursuant to Section 5.1(c) of the Credit Agreement.

 

    EXHIBIT C-2

     

    

 

The foregoing certifications[,
together with the computations set forth in the Annex A hereto] and the financial statements delivered with this Compliance Certificate
in support hereof, are made and delivered on the date first above written pursuant to Section 5.1(d) of the Credit Agreement.

 

 

[Signature page follows]

 

	 	HPI HOLDINGS, LLC
	 	 	 
	 	 	 
		By:	 
	 	Name:
	 	Title:

 

    EXHIBIT C-3

     

    

 

ANNEX A TO

COMPLIANCE
CERTIFICATE

 

FOR THE FISCAL [QUARTER] [YEAR] ENDING [mm/dd/yy].

 

		1.	Consolidated Adjusted EBITDA:           (a) - (b) =           $[      ,     ,    ]1

 

		(a)	the sum, without duplication, of the amounts for such period of

 

		(i)	Consolidated Net Income and	$[     ,     ,     ]

 

		(ii)	to the extent deducted in calculating Consolidated Net Income,	$[     ,     ,     ]

 

		(A)	Consolidated Interest Expense:	$[     ,     ,     ]

 

		(B)	provisions for taxes based on income (or franchise taxes imposed in lieu of income taxes):	$[     ,     ,     ]

 

		(C)	total depreciation expense:	$[     ,     ,     ]

 

		(D)total	amortization expense:	$[     ,     ,     ]

 

 

 

1 Provided, that the aggregate amount added
back to Consolidated Adjusted EBITDA pursuant to clauses (a)(ii)(G), (a)(ii)(I), (a)(ii)(J), (a)(ii)(M) and (a)(ii)(N) for (i) any
trailing 12-month period ending on and prior to December 31, 2022 shall not exceed thirty percent (30%) and (ii) any trailing
12-month period thereafter shall not exceed fifteen percent (15%), in each case, of Consolidated Adjusted EBITDA for such period (prior
to giving effect to all add-backs pursuant to clauses (a)(ii)(G), (a)(ii)(I), (a)(ii)(J), (a)(ii)(M) and (a)(ii)(N) for such
period);

 

Provided further, that for the purposes
of calculating Consolidated Adjusted EBITDA for any period that includes one or more of the fiscal months set forth below, Consolidated
Adjusted EBITDA with respect to each such fiscal month shall be deemed to equal the amount set forth below for each such fiscal month
(without duplication):

 

	Fiscal Month	 	Consolidated Adjusted EBITDA	 
	September 2020	 	$	1,343,852	 
	October 2020	 	$	1,244,704	 
	November 2020	 	$	1,534,726	 
	December 2020	 	$	1,238,826	 
	January 2021	 	$	740,098	 
	February 2021	 	$	1,274,364	 
	March 2021	 	$	1,164,788	 
	April 2021	 	$	1,400,946	 
	May 2021	 	$	1,176,533	 
	June 2021	 	$	1,375,097	 
	July 2021	 	$	1,199,697	 
	August 2021	 	$	1,263,144	 

 

    EXHIBIT C-4

     

    

 

		(E)	reasonale and customary Transaction Costs; provided such Transaction Costs are in an aggregate amount not to exceed $2,500,000,     	$[     ,     ,     ]

 

		(F)	financing fees and documented out-of-pocket expenses (including, without limitation, of advisors, legal counsels, agents or representatives
of Administrative Agent or the Lenders, but specifically excluding payments made to Sponsor or its affiliates) incurred and payable pursuant
to or in connection with any amendment, consent, waiver or modification to the Credit Documents or the administration thereof,     	$[     ,     ,     ]

 

		(G)	pro forma adjustments, including pro forma “run rate” cost savings, operating expense reductions, operational improvements
and other cost synergies (in each case, net of actual amounts realized (and excluding, for the avoidance of doubt, any revenue and lost
revenues)) related to (i) the Closing Date Acquisition, and (ii) any Permitted Acquisition, disposition (including the termination
or discontinuance of activities constituting a business) or other restructuring, specified investment or transaction, or related to any
restructuring initiative, cost savings initiative or other initiative (excluding the effect of increased pricing in customer contracts
or the renegotiation of contracts or other arrangements) expressly permitted by the terms of this Agreement, in each case, that are projected
by the Borrower in good faith to result from actions taken, committed to be taken or expected to be taken no later than 18 months after
the consummation of the Closing Date Acquisition, such Permitted Acquisition, such permitted disposition or other restructuring investment,
transaction or restructuring or similar initiative, as applicable (which amounts will be determined by such Person in good faith and
calculated on a pro forma basis as though such amounts had been realized on the first day of such period), net of the amount of actual
benefits realized during such period from such action; provided that the aggregate amount added back pursuant to this subclause
(G) shall not exceed for any trailing 12-month period (x) $1,700,000 for the Fiscal Quarters ending on or prior to September 30,
2022 or (y) $200,000 for the Fiscal Quarters ending on and after December 31, 2022,     	$[     ,     ,     ]

 

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

 

		(I)	reasonable compensation, expenses and indemnification payments incurred with respect to outside directors on the board of directors (or
similar governing body) of the Credit Parties up to $100,000 in any trailing 12-month period,     	$[     ,     ,     ]

 

		(J)	(i) the amount of earn-out, deferred purchase price, purchase price adjustment or other contingent obligation expense and any adjustment
thereof incurred in connection with any Permitted Acquisition or Investment expressly permitted by the terms of this Agreement occurring
after the Closing Date to the extent (1) such earn-out or contingent consideration obligation is expressly permitted under the Credit
Agreement to be (x) incurred at the time of incurrence (with respect to Permitted Acquisitions) and (y) paid at the time of
payment (with respect to any acquisition or Investment) and (2) such earn-out or other contingent consideration obligation is deducted
in the calculation of Consolidated Net Income for such period; provided that the aggregate amount added back pursuant to this
clause (J)(i) shall not exceed $100,000 for any trailing 12-month period, and (ii) the amount of the Earnout Payment paid to
the Company Stockholders pursuant to the Closing Date Acquisition Agreement,	$[     ,     ,     ]

 

    EXHIBIT C-5

     

    

 

		(K)	unrealized or realized net non-cash losses in the fair market value of any arrangements under Hedging Transactions;     	$[     ,     ,     ]

 

		(L)	proceeds of business interruption insurance actually received in an amount representing the earnings for the applicable period that such
proceeds are intended to replace;	$[     ,     ,     ]

 

		(M)	any non-cash charge, expense, cost, accrual, reserve or loss of any kind incurred in connection with (i) any management equity plan,
profits interest or stock option plan or other management or employee benefit plan or agreement, any pension plan (including any post-
employment benefit scheme which has been agreed to with the relevant pension trustee), any stock subscription or shareholder agreement,
any employee benefit trust, any employment benefit scheme or any similar equity plan or agreement (including any deferred compensation
arrangement), (ii) the rollover, acceleration, payout or repurchase of any equity interest held by management and (iii) the granting
of any stock, stock option or similar arrangement (including any profits interest), the granting of any restricted stock, stock appreciation
right and/or similar arrangement, provided that the aggregate amount added back pursuant to this clause (M) shall not exceed $1,000,000
in any consecutive four quarter period;     	$[     ,     ,     ]

 

		(N)	one-time integration expenses incurred in respect of any items which are reasonably identifiable and related to any transaction, investment,
restructuring, cost saving initiative or other initiative, in each case, for any charges, expense, cost, accrual, reserve or loss of
any kind, attributable to business integration activities, cost rationalization programs, operating expense reductions and/or cost synergies
and/or similar initiatives, any restructuring charge (including any charge relating to any tax restructuring), any charge relating to
the closure or consolidation of any facility (including but not limited to rent termination costs, moving costs and legal costs), any
systems design or implementation charges (whether expensed or capitalized) related to business systems in respect of ERP, HRIS, CRM,
payroll, order to cash, record to report, procure to pay and T&E/expense management and paid to third-party consultants, any severance
charge, any signing, retention or completion bonus, any expansion and/or relocation charge and any charge associated with any modification
to any pension and post-retirement employee benefit plan; provided that the aggregate amount added back pursuant to this clause
(N), shall not exceed (i) with respect to the Closing Date Acquisition, $2,000,000 and (ii) with respect to any other transaction
expressly permitted under the Credit Agreement after the Closing Date, 2.5% of Consolidated Adjusted EBITDA (calculated before giving
effect to any increase pursuant to this clause (N));     	$[     ,     ,     ]

 

    EXHIBIT C-6

     

    

 

		(O)	integration incentive bonuses paid in connection with the Closing Date Acquisition, in an aggregate amount not to exceed $1,200,000;
and     	$[     ,     ,     ]

 

		(P)	employee retention bonuses paid in connection with integration activities of the Closing Date Acquisition in an aggregate amount not
to exceed $1,100,000, minus     	$[     ,     ,     ]

 

		(b)	the sum, without duplication, of the amounts for such period of:	$[     ,     ,     ]

 

		(i)	other non-Cash items increasing Consolidated Net Income for such period (excluding any such non Cash item to the extent it represents
the reversal of an accrual or reserve for potential Cash item in any prior period),	$[     ,     ,     ]

 

		(ii)	unrealized or realized net non-cash gains in the fair market value of any arrangements under Hedging Transactions;	$[     ,     ,     ]

 

		(iii)	the amount added back to Consolidated Adjusted EBITDA pursuant to clause (a)(ii)(L) above (as described in such clause) to the extent
the relevant proceeds were not received within the time period required by such clause;	$[     ,     ,     ]

 

		(iv)	to the extent that such Person adds back the amount of any non-cash charge to Consolidated Adjusted EBITDA pursuant to clause (a)(ii)(H) above,
the cash payment in respect thereof in the relevant future period;	$[     ,     ,     ]

 

		(v)	interest income,	$[     ,     ,     ]

 

		(vi)	other non-ordinary course income; and	$[     ,     ,     ]

 

		(vii)	the amount of capitalized software development costs;	$[     ,     ,     ]

 

		2.	Consolidated Capital Expenditures:	$[     ,     ,     ]

 

		3.	Consolidated Cash Interest Expense:	$[     ,     ,     ]

 

		4.	Consolidated Current Assets:	$[     ,     ,     ]

 

		5.	Consolidated Current Liabilities:	$[     ,     ,     ]

 

		6.	Consolidated Excess Cash Flow: (a) - (b) =	$[     ,     ,     ]

 

		(a)	the sum, without duplication, of the amounts for such period of:	$[     ,     ,     ]

 

		(i)	Consolidated Adjusted EBITDA (without giving effect to clause (a)(ii)(G) of the definition thereof),	$[     ,     ,     ]

 

		(ii)	interest income,	$[     ,     ,     ]

 

    EXHIBIT C-7

     

    

 

		(iii)	other non-ordinary course income (excluding any gains or losses attributable to Asset Sales), and	$[     ,     ,     ]

 

		(iv)	Consolidated Working Capital Adjustment, minus	$[     ,     ,     ]

 

		(b)	the sum, without duplication, of the amounts for such period of:	$[     ,     ,     ]

 

		(i)	voluntary and scheduled repayments of Indebtedness (excluding repayments of revolving loans except to the extent the related revolving
commitments are permanently reduced in connection with such repayments),	$[     ,     ,     ]

 

		(ii)	Consolidated Capital Expenditures (net of any proceeds of (x) Net Asset Sale Proceeds to the extent reinvested in accordance with
Section  2.14(a)  of the Credit Agreement, (y)  Net Insurance/Condemnation Proceeds to the extent reinvested in accordance with Section 2.14(b) of the Credit Agreement, and (z) any proceeds of related financings with respect to such expenditures),	$[     ,     ,     ]
	 	 	 	 
	 	(iii)	Consolidated Cash Interest Expense,	$[     ,     ,     ]
	 	 	 	 
	 	(iv)	provisions for current taxes based on income of Holdings and its Subsidiaries (or franchise taxes imposed in lieu of such income taxes) and payable in cash with respect to such period,	
     

    $[     ,     ,     ]

	 	 	 	 
	 	(v)	Permitted Tax Distributions attributable to such period,	$[     ,     ,     ]
	 	 	 	 
	 	(vi)	other amounts added to Consolidated Net Income or Consolidated Adjusted EBITDA pursuant to the definitions thereof, in each case, to the extent paid in Cash (or, in the case of proceeds of insurance, received in Cash),	
     

    $[     ,     ,     ]

	 	 	 	 
	 	(vii)	the amount of any Tax obligation of Holdings and/or any of its Subsidiaries that is estimated in good faith by Holdings and agreed to by the Administrative Agent as due and payable (but is not currently due and payable) by Holdings and/or any of its Subsidiaries within four quarters following end of the relevant Fiscal Year as a result of the repatriation of any dividend or similar distribution of net income of any Foreign Subsidiary to Holdings and/or any Subsidiary of Holdings, and	
     

     

     

     

    $[     ,     ,     ]

	 	 	 	 
	 	(viii)	
    the purchase price
    paid in Cash for all Permitted Acquisitions permitted pursuant to this Agreement (other than any Investments in any Credit Party or
    in any Person which was already a Subsidiary or Investments in Cash and Cash Equivalents), to the extent such payments are not
    funded with the proceeds of Indebtedness (other than Revolving Loans), the proceeds of capital contributions from Permitted Holders
    or their Affiliates or the issuance of Capital Stock.
	
     

     

     

     

    $[     ,     ,     ]

 

    EXHIBIT C-8

     

    

 

		7.	Consolidated Fixed Charges: (a) + (b) + (c) + (d) =	$[     ,     ,     ]

 

The sum, without duplication, of the amounts determined for
the Holdings and its Subsidiaries on a consolidated basis equal to:

 

		(a)	Consolidated Cash Interest Expense:	$[     ,     ,     ]

 

		(b)	scheduled payments of principal on Consolidated Total Debt:	$[     ,     ,     ]

 

		(c)	Consolidated Capital Expenditures:	$[     ,     ,     ]

 

		(d)	the current portion of taxes provided for with respect to such period in accordance with GAAP:	$[     ,     ,     ]

 

		8.	Consolidated Interest Expense:	$[     ,     ,     ]

 

		9.	Consolidated Net Income: (a) - (b) =	$[     ,     ,     ]

 

		(a)	the net income (or loss) of Holdings and its Subsidiaries on a consolidated basis for such period taken as a single accounting period
determined in conformity with GAAP, minus:	$[     ,     ,     ]

 

		(b)	the sum of:	$[     ,     ,     ]

 

		(i)	the income (or loss) of any Person (other than a Subsidiary of Holdings) in which any other Person (other than Holdings or any of its
Subsidiaries) has a joint interest:	$[     ,     ,     ]

 

		(ii)	the income (or loss) of any Person accrued prior to the date it becomes a Subsidiary of Holdings or is merged into or consolidated with
Holdings or any of its Subsidiaries or that Person’s assets are acquired by Holdings or any of its Subsidiaries,	$[     ,     ,     ]

 

		(iii)	the income of any Subsidiary of Holdings to the extent that the declaration or payment of dividends or similar distributions by that
Subsidiary of that income is not at the time permitted by operation of the terms of its charter or any agreement, instrument, judgment,
decree, order, statute, rule or governmental regulation applicable to that Subsidiary:	$[     ,     ,     ]

 

		(iv)	any gains or losses attributable to Asset Sales or returned surplus assets of any Pension Plan, and	$[     ,     ,     ]

 

		(v)	to the extent not included in clauses (i) through (iv) above, any net extraordinary gains or net
                                                             extraordinary losses.	$[     ,     ,     ]

 

		10.	Consolidated Total Debt:	$[     ,     ,     ]

 

		11.	Consolidated Working Capital: (i) - (ii) =	$[     ,     ,     ]

 

		(i)	Consolidated Current Assets:	$[     ,     ,     ]

 

		(ii)	Consolidated Current Liabilities:	$[     ,     ,     ]

 

		12.	Consolidated Working Capital Adjustment: (i) - (ii) =	$[     ,     ,     ]

 

		(i)	Consolidated Working Capital as of the beginning of such period:	$[     ,     ,     ]

 

    EXHIBIT C-9

     

    

 

		(ii)	Consolidated Working Capital as of the end of such period:	$[     ,     ,    ]

 

		13.	Fixed Charge Coverage Ratio: (i)/(ii) =

 

		(i)	Consolidated Adjusted EBITDA for the four consecutive Fiscal Quarters ending on (or, if such determination is not made as of the last
day of a Fiscal Quarter, immediately prior to) such date of determination:	$[     ,     ,    ]

 

		(ii)	Consolidated Fixed Charges for such four-Fiscal Quarter period:	$[     ,     ,    ]

 

Actual:     _. :1.00 

 Maximum Permitted:     _.
:1.00

 

		14.	Total Leverage Ratio: (i)/(ii) =

 

		(i)	Consolidated Total Debt:	$[     ,     ,     ]

 

		(ii)	Consolidated Adjusted EBITDA for the four consecutive Fiscal Quarters ending on (or, if such determination is not made as of the last
day of a Fiscal Quarter, immediately prior to) such date of determination	$[     ,     ,     ]

 

Actual:     _. :1.00 

 Maximum Permitted:     _.
:1.00

 

    EXHIBIT C-10

     

    

 

EXHIBIT D TO

CREDIT AND GUARANTY
AGREEMENT

 

ASSIGNMENT AGREEMENT

 

This Assignment Agreement
(the “Assignment”) is dated as of the Effective Date set forth below and is entered into by and between [Insert
name of Assignor] (the “Assignor”) and [Insert name of Assignee] (the “Assignee”). Capitalized
terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below (as amended, restated,
replaced, supplemented or otherwise modified from time to time, the “Credit Agreement”), receipt of a copy of which
is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and
incorporated herein by reference and made a part of this Assignment as if set forth herein in full.

 

For an agreed consideration,
the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases and assumes from the
Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted
by the Administrative Agent as contemplated below, the interest in and to all of the Assignor’s rights and obligations under the
Credit Agreement and any other documents or instruments delivered pursuant thereto that represents the amount and percentage interest
identified below of all of the Assignor’s outstanding rights and obligations under the respective facilities identified below (the
 “Assigned Interest”). Such sale and assignment is without recourse to the Assignor and, except as expressly provided
in this Assignment and the Credit Agreement, without representation or warranty by the Assignor.

 

		1.	Assignor:	____________________________

 

		2.	Assignee:	____________________________[and
is an Affiliate/Approved Fund1]

 

		3.	Borrower:	HPI HOLDCO, LLC, a Delaware limited liability company

 

		4.	Administrative Agent:	Crestline Direct Finance, L.P., as the administrative agent under the Credit Agreement

 

		5.	Credit Agreement:	Credit and Guaranty Agreement, dated as of [        ] [_], 2021 (as amended, restated, replaced,
supplemented or otherwise modified from time to time, the “Credit Agreement”; the terms defined therein and not otherwise
defined herein being used herein as therein defined), by and among the Borrower, HPI Holdings, LLC, a Delaware limited liability (“Holdings”),
certain Subsidiaries of Holdings, as Guarantors, the Lenders party thereto from time to time, and Crestline Direct Finance, L.P., as Administrative
Agent and Collateral Agent

 

 

1            Include
and select as applicable.

 

    EXHIBIT D-1

     

    

 

		6.	Assigned Interest:

 

	 
 
Facility Assigned
	 	 	Aggregate Amount 

of 
Loans 
for all Lenders	 	 
Amount of Loans

 Assigned
	 	 
Percentage
                                            

                                            Assigned of Loan1
	 
	 	 	2	 	$	 	 	$	 	 	 	 	 	%
	 	 	 	 	$	 	 	$	 	 	 	 	 	%
	 	 	 	 	$	 	 	$	 	 	 	 	 	%

 

Effective Date:                        ,
20_ [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.]

 

		7.	Notice and Wire Instructions:

 

	 	[NAME OF ASSIGNOR]	 	[NAME OF ASSIGNEE]
	 	 	 	 
	 	Notices:	 	Notices:
	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	Attention: 	 	 	Attention: 
	 	 	Telecopier:	 	 	Telecopier:
	 	 	 	 
	 	with a copy to:	 	with a copy to:
	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	Attention: 	 	 	Attention: 
	 	 	Telecopier:	 	 	Telecopier:
	 	 	 	 
	 	Wire Instructions:	 	Wire Instructions:

 

 

 

1            Set
forth, to at least 9 decimals, as a percentage of the Loans of all Lenders thereunder.

 

		2	Fill in the appropriate terminology for the types of facilities under the Credit Agreement that are being assigned under this Assignment
(e.g. “Term Loan Commitment”, “Revolving Commitment”, etc.)

 

    EXHIBIT D-2

     

    

 

The terms set forth in this Assignment are hereby agreed to:

 

	 	ASSIGNOR
	 	[NAME OF ASSIGNOR]
	 	 
	 	By:	 
	 	Name:
	 	Title:
	 	 
	 	ASSIGNEE
	 	[NAME OF ASSIGNEE]
	 	 
	 	By:	 
	 	Name:
	 	Title:

 

[Consented to and]1 Accepted:

 

	CRESTLINE DIRECT FINANCE, L.P.,	 
	as Administrative Agent	 
	 	 
	By: 	Crestline Direct Finance (GP), L.L.C., 

its general partner	 
	 	 
	 	By: 	Crestline Investors, Inc.,

 its manager	 
	 	 
	By:	 	 
	Name:	 
	Title: 	 
	 	 
	[Consented to:]2	 
	 	 
	HPI HOLDCO, LLC	 
	 	 
	By:	 	 
	Name:	 
	Title:	 

 

 

 

1            To
be added only if the consent of Administrative Agent is required by the terms of the Credit Agreement.

 

2            To
be added only if the consent of Borrower is required by the terms of the Credit Agreement.

 

    EXHIBIT D-3

     

    

 

ANNEX 1

 

STANDARD TERMS AND CONDITIONS FOR 

ASSIGNMENT
AGREEMENT

 

		1.	Representations and Warranties.

 

		1.1	Assignor. The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of the Assigned
Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim, (iii) it has full power
and authority, and has taken all action necessary, to execute and deliver this Assignment and to consummate the transactions contemplated
hereby; and (iv) it is not a Defaulting Lender; and (b) assumes no responsibility with respect to (i) any statements, warranties
or representations made in or in connection with any Credit Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Credit Agreement or any other instrument
or document delivered pursuant thereto, other than this Assignment (herein collectively the “Credit Documents”), or any collateral
thereunder, (iii) the financial condition of the Borrower, Holdings, any of Holdings’ Subsidiaries or Affiliates, or any other
Person obligated in respect of any Credit Document or (iv) the performance or observance by the Borrower, any of Holdings' Subsidiaries
or Affiliates, or any other Person of any of their respective obligations under any Credit Document.

 

		1.2	Assignee. The Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action
necessary, to execute and deliver this Assignment and to consummate the transactions contemplated hereby and to become a Lender under
the Credit Agreement, (ii) it meets all requirements of an Eligible Assignee under the Credit Agreement, (iii) from and after
the Effective Date, it shall be bound by the provisions of the Credit Agreement and, to the extent of the Assigned Interest, shall have
the obligations of a Lender thereunder, (iv) it has received a copy of the Credit Agreement and such other documents and information
as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and to purchase the Assigned Interest
on the basis of which it has made such analysis and decision, and (v) attached to the Assignment is any documentation required to
be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; and (b) agrees that
(i) it will, independently and without reliance on the Administrative Agent, the Assignor or any other Lender, and based on such
documents and information as it shall deem appropriate at that time, continue to make its own credit decisions in taking or not taking
action under the Credit Documents, and (ii) it will perform in accordance with their terms all of the obligations which by the terms
of the Credit Documents are required to be performed by it as a Lender.

 

		2.	Payments. Unless notice to the contrary is delivered to the Lender from the Administrative Agent, payment to the Assignor by
the Assignee in respect of the Assigned Interest on the Effective Date shall include such compensation to the Assignor as may be agreed
upon by the Assignor and the Assignee with respect to all unpaid interest which has accrued on the Assigned Interest to but excluding
the Effective Date. On and after the applicable Effective Date, the Assignee shall be entitled to receive all interest paid or payable
with respect to the Assigned Interest, whether such interest accrued before or after the Effective Date.

 

    EXHIBIT D-4

     

    

 

		3.	General Provisions. This Assignment shall be binding upon, and inure to the benefit of, the parties hereto and their respective
successors and assigns. This Assignment may be executed in any number of counterparts, which together shall constitute one instrument.
Delivery of an executed counterpart of a signature page of this Assignment by telecopy shall be effective as delivery of a manually
executed counterpart of this Assignment. This Assignment shall be governed by, and construed in accordance with, the internal laws of
the State of New York without regard to conflict of laws principles thereof.

 

[Remainder of page intentionally left blank]

 

    EXHIBIT D-5

     

    

 

EXHIBIT E-1 TO

CREDIT AND GUARANTY
AGREEMENT

 

[FORM  OF]

 

CLOSING DATE CERTIFICATE

 

Date:
[           ] [_], 2020

 

THE UNDERSIGNED HEREBY CERTIFY AS FOLLOWS:

 

1.  I
am the [     ] of HPI HOLDINGS, LLC, a Delaware limited
liability company (“Holdings”) and [     ]
of HPI HOLDCO, LLC, a Delaware limited liability company (“Borrower”).

 

2.  Reference
is made to the Credit and Guaranty Agreement, dated as of the date hereof (the “Credit Agreement”; the terms defined
therein and not otherwise defined herein being used herein as therein defined), by and among Holdings, Borrower, certain Subsidiaries
of Holdings, as Guarantors, the Lenders party thereto from time to time, and Crestline Direct Finance, L.P., as Administrative Agent and
Collateral Agent.

 

3.  I
have reviewed the terms of the Credit Agreement, and in my opinion I have made, or have caused to be made under my supervision, such examination
or investigation as is necessary to enable me to express an informed opinion as to the matters referred to herein and deliver this Closing
Date Certificate pursuant to Section 3.1(q) of the Credit Agreement.

 

4.  Based
upon my review and examination described in paragraph 3 above, I hereby certify on behalf of the Borrower, in my capacity as Authorized
Officer of the Borrower and not in my individual capacity, that, as of the date hereof:

 

a.            attached
hereto as Annex A are true, complete, and correct copies of (i) the Historical Financial Statements, (ii) pro forma consolidated
and consolidating balance sheets of Holdings and its Subsidiaries as at the Closing Date, and reflecting the consummation of the Closing
Date Acquisition, the related financings and the other transactions contemplated by the Credit Documents to occur on or prior to the Closing
Date, (iii) pro forma consolidated and consolidating income statements of Holdings and its Subsidiaries as at the Closing Date, and
reflecting the consummation of the Closing Date Acquisition, the related financings and the other transactions contemplated by the Credit
Documents to occur on or prior to the Closing Date, and (iv) the Projections;

 

b.            on
the Closing Date and immediately after giving effect to any Credit Extensions to be made on the Closing Date, including the payment of
all Transaction Costs required to be paid in Cash, the sum of Unrestricted Cash-on-Hand and undrawn Revolving Commitments is at least
$5,500,000, as demonstrated in the financial statements attached as Annex A hereto;

 

c.            since
December 31, 2020, no event, circumstance, or change has occurred that has caused or evidences, either in any case or in the aggregate,
a Material Adverse Effect;

 

    EXHIBIT E-1-1

     

    

 

d.            attached
hereto as Annex B are true, complete, and correct copies of the Closing Date Acquisition Documents, which are, in each case, in
full force and effect as of the date hereof; and

 

e.            attached
hereto as Annex C is a true, complete, and correct copy of the pro forma capitalization table representing the holders of all Capital
Stock of Holdings and its Subsidiaries as of the Closing Date.

 

[Signature page follows]

 

    EXHIBIT E-1-2

     

    

 

The foregoing certifications are made and delivered as of
the date first written above.

 

	 	HPI HOLDINGS, LLC
	 	 
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

	 	HPI  HOLDCO, LLC
	 	 
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    EXHIBIT E-1-3

     

    

 

Annex A

 

Financial Statements and Projections

 

See attached.

 

    EXHIBIT E-1-4

     

    

 

Annex B

 

Closing Date Acquisition Documents

 

See attached.

 

    EXHIBIT E-1-5

     

    

 

Annex C

 

Capitalization Table

 

See attached.

 

    EXHIBIT E-1-6

     

    

 

EXHIBIT E-2 TO

CREDIT AND GUARANTY
AGREEMENT

 

[FORM OF]

 

SOLVENCY CERTIFICATE

 

Date: [       ]
[_], 2021

 

THE UNDERSIGNED HEREBY CERTIFIES AS FOLLOWS:

 

1.            I
am the [ ] of HPI HOLDINGS, LLC, a Delaware limited liability company (“Holdings”).

 

2.            Reference
is made to that certain Credit and Guaranty Agreement, dated as of the date hereof (the “Credit Agreement”; the terms
defined therein and not otherwise defined herein being used herein as therein defined), by and among HPI Holdco, LLC, a Delaware limited
liability company (the “Borrower”), Holdings, certain Subsidiaries of Holdings, as Guarantors, the Lenders party thereto
from time to time, and Crestline Direct Finance, L.P., as Administrative Agent and Collateral Agent.

 

3.            I
have reviewed the terms of the Credit Agreement and the definitions and provisions contained in the Credit Agreement relating thereto,
and, in my opinion, have made, or have caused to be made under my supervision, such examination or investigation of the financial condition
and the properties, assets, and business of Holdings and its Subsidiaries as is necessary to enable me to express an informed opinion
as to the matters referred to herein.

 

4.            Based
upon my familiarity with the properties, assets, and business of Holdings and its Subsidiaries and my review and examination described
in paragraph 3 above, I certify, solely in my official capacity and not in my individual capacity, that as of the date hereof, after
giving effect to the consummation of the Closing Date Acquisition, Holdings and its Subsidiaries are and, immediately after the consummation
of the Closing Date Acquisition, will be Solvent, in each case, on a consolidated basis.

 

As used herein, “Solvent”
means, with respect to any Person, that as of the date of determination, both (a)(i) the sum of such Person’s debt (including
contingent liabilities) does not exceed the present fair saleable value of such Person’s present assets; (ii) such Person’s
capital is not unreasonably small in relation to its business as contemplated on the Closing Date and reflected in the Projections or
with respect to any transaction contemplated or undertaken after the Closing Date; and (c) such Person has not incurred and does
not intend to incur, or believe (nor should it reasonably believe) that it will incur, debts beyond its ability to pay such debts as they
become due (whether at maturity or otherwise); and (b) such Person is “solvent” within the meaning given that term and
similar terms under applicable laws relating to fraudulent transfers and conveyances; provided that for purposes of this definition,
the amount of any contingent liability at any time shall be computed as the amount that, in light of all of the facts and circumstances
existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability (irrespective of
whether such contingent liabilities meet the criteria for accrual under Statement of Financial Accounting Standard No. 5).

 

[Signature page follows]

 

    EXHIBIT E-2-1

     

    

 

The foregoing certifications are made and delivered as of
the date first written above.

 

	 	HPI HOLDINGS, LLC
	 	 
	 	 
	 	By:	 
	 	Name:
	 	Title:

 

    EXHIBIT E-2-2

     

    

 

EXHIBIT F TO

CREDIT AND GUARANTY
AGREEMENT

 

[FORM OF]

 

COUNTERPART AGREEMENT

 

This
COUNTERPART  AGREEMENT, dated [           ], 20[__] (this “Counterpart Agreement”)
is delivered by the undersigned, [          ], a [                ],
pursuant to that certain Credit and Guaranty Agreement, dated as of [_] [_], 2021 (as amended, restated, replaced, supplemented or otherwise
modified from time to time, the “Credit Agreement”; the terms defined therein and not otherwise defined herein being
used herein as therein defined), by and among HPI HOLDCO, LLC, a Delaware limited liability company (the “Borrower”),
HPI HOLDINGS, LLC, a Delaware limited liability company (“Holdings”), CERTAIN SUBSIDIARIES OF HOLDINGS,
as Guarantors, the Lenders party thereto from time to time, and CRESTLINE DIRECT FINANCE, L.P., as Administrative Agent and Collateral
Agent.

 

Section 1.
Pursuant to Section 5.10 of the Credit Agreement and Section 5.2 of the Pledge and Security Agreement, the undersigned
hereby:

 

(a)          agrees
that this Counterpart Agreement may be attached to the Credit Agreement and that by the execution and delivery hereof, the undersigned
becomes a Guarantor and a Credit Party under the Credit Agreement and agrees to be bound by all of the terms thereof;

 

(b)          represents
and warrants that each of the representations and warranties set forth in the Credit Agreement and each other Credit Document and applicable
to the undersigned is true and correct in all material respects (without duplication of any materiality qualifier contained therein) both
before and after giving effect to this Counterpart Agreement, except to the extent that any such representation and warranty relates solely
to any earlier date, in which case such representation and warranty is true and correct in all material respects (without duplication
of any materiality qualifier contained therein) as of such earlier date;

 

		(c)	[reserved];

 

(d)          irrevocably
and unconditionally guarantees the due and punctual payment in full of all Obligations when the same shall become due, whether at stated
maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the
operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. § 362(a)) and in accordance with
Section 7 of the Credit Agreement; and

 

(e)          (i) agrees
that this counterpart may be attached to the Pledge and Security Agreement and that by execution and delivery hereof, the undersigned
becomes a Grantor under the Pledge and Security Agreement, (ii) agrees that the undersigned will comply with all the terms and conditions
of the Pledge and Security Agreement as if it were an original signatory thereto, (iii) grants to the Collateral Agent a security
interest in and continuing Lien on all of such Person’s right, title and interest in, to and under all “Collateral”
(as such term is defined in the Pledge and Security Agreement and which term shall exclude, for the avoidance of doubt, any and all Excluded
Assets of the undersigned), in each case whether now owned or existing or hereafter acquired or arising and wherever located in accordance
with the terms of the Pledge and Security Agreement, and that all such Collateral shall be deemed to be part of the “Collateral”
and hereafter subject to each of the terms and conditions of the Pledge and Security Agreement, and (iv) agrees to deliver to Collateral
Agent supplements to all applicable schedules attached to the Pledge and Security Agreement.

 

    EXHIBIT F-1

     

    

 

Section 2.
The undersigned agrees from time to time, upon reasonable request of any Agent, to take such additional actions and to execute
and deliver such additional documents and instruments as such Agent may reasonably request to effect the transactions contemplated by,
and to carry out the intent of, this Counterpart Agreement or any other Credit Document. Neither this Counterpart Agreement nor any term
hereof may be changed, waived, discharged or terminated, except by an instrument in writing signed by the undersigned and the party (including,
if applicable, any party required to evidence its consent to or acceptance of this Counterpart Agreement) against whom enforcement of
such change, waiver, discharge or termination is sought. Any notice or other communication herein required or permitted to be given shall
be given in pursuant to Section 10.1 of the Credit Agreement, and for purposes thereof, the notice address of the undersigned shall
be the address as set forth on the signature page hereof. In case any provision in or obligation under this Counterpart Agreement
shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions
or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

 

THIS COUNTERPART AGREEMENT
AND THE RIGHTS AND OBLIGATIONS HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS
LAW) THEREOF.

 

SUBJECT TO CLAUSE (iv) OF
THE FOLLOWING SENTENCE, ALL JUDICIAL PROCEEDINGS BROUGHT AGAINST THE UNDERSIGNED ARISING OUT OF OR RELATING HERETO SHALL BE BROUGHT IN
ANY STATE OR FEDERAL COURT OF COMPETENT JURISDICTION IN THE STATE, COUNTY AND CITY OF NEW YORK. BY EXECUTING AND DELIVERING THIS COUNTERPART AGREEMENT,
THE UNDERSIGNED, FOR ITSELF AND IN CONNECTION WITH ITS PROPERTIES, IRREVOCABLY (i) ACCEPTS GENERALLY AND UNCONDITIONALLY THE
EXCLUSIVE JURISDICTION AND VENUE OF SUCH COURTS; (ii) WAIVES ANY DEFENSE OF FORUM NON CONVENIENS; (iii) AGREES THAT SERVICE
OF ALL PROCESS IN ANY SUCH PROCEEDING IN ANY SUCH COURT MAY BE MADE BY REGISTERED OR CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO
THE UNDERSIGNED AT ITS ADDRESS PROVIDED ON THE SIGNATURE PAGE HEREOF OR OTHERWISE IN ACCORDANCE WITH SECTION 10.1 OF THE CREDIT
AGREEMENT IS SUFFICIENT TO CONFER PERSONAL JURISDICTION OVER THE UNDERSIGNED IN ANY SUCH PROCEEDING IN ANY SUCH COURT, AND OTHERWISE CONSTITUTES
EFFECTIVE AND BINDING SERVICE IN EVERY RESPECT; AND (iv) AGREES THAT, NOTWITHSTANDING THE FIRST SENTENCE OF THIS PARAGRAPH, AGENTS
AND LENDERS RETAIN THE RIGHT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO BRING PROCEEDINGS AGAINST THE UNDERSIGNED IN
THE COURTS OF ANY OTHER JURISDICTION.

 

THE UNDERSIGNED
HEREBY AGREES THAT PROCESS MAY BE SERVED ON IT BY CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO THE ADDRESSES PERTAINING TO IT
AS SPECIFIED ON THE SIGNATURE PAGE HEREOF OR OTHERWISE IN ACCORDANCE WITH SECTION 10.1 OF THE CREDIT AGREEMENT. ANY AND
ALL SERVICE OF PROCESS AND ANY OTHER NOTICE IN ANY SUCH ACTION, SUIT OR PROCEEDING SHALL BE EFFECTIVE AGAINST THE UNDERSIGNED IF
GIVEN BY REGISTERED OR CERTIFIED MAIL, RETURN RECEIPT REQUESTED, OR BY ANY OTHER MEANS OR MAIL WHICH REQUIRES A SIGNED RECEIPT,
POSTAGE PREPAID, MAILED AS PROVIDED ABOVE.

 

    EXHIBIT F-2

     

    

 

THE UNDERSIGNED HEREBY
AGREES TO WAIVE ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING HEREUNDER OR UNDER ANY OF THE OTHER CREDIT
DOCUMENTS. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND
THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS AND ALL OTHER
COMMON LAW AND STATUTORY CLAIMS. THE UNDERSIGNED FURTHER WARRANTS AND REPRESENTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL
AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. THIS WAIVER IS IRREVOCABLE,
MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING (OTHER THAN BY A MUTUAL WRITTEN WAIVER EXECUTED AND DELIVERED IN
ACCORDANCE WITH SECTION 10.5 OF THE CREDIT AGREEMENT), AND THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS,
SUPPLEMENTS OR MODIFICATIONS HERETO. IN THE EVENT OF LITIGATION, THIS COUNTERPART AGREEMENT MAY BE FILED AS A WRITTEN CONSENT
TO A TRIAL BY THE COURT.

 

[Signature page follows]

 

    EXHIBIT F-3

     

    

 

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

 

	 	[NAME OF SUBSIDIARY]
	 	 
	 	By:	Name:
	 	 	Title:

 

	Address for Notices:	 
	 	 
	 	 	 
	 	 	 
	 	 	 
	 	Attention:	 
	 	Telecopier	
	 	 
	with a copy to:	 
	 	 
	 	 	 
	 	 	 
	 	 	 
	 	Attention:	 
	 	Telecopier	 

 

    EXHIBIT F-4

     

    

 

	ACKNOWLEDGED AND ACCEPTED,	 
	as of the date above first written:	 
	 	 
	CRESTLINE DIRECT FINANCE, L.P.,	 
	as Administrative Agent	 
	 	 
	By:	Crestline Direct Finance (GP), L.L.C., its general partner	 
	 	 
	 	By:	Crestline Investors, Inc., its manager	 
	 	 
	By:	Name:	 
	 	Title:	 
	 	 
	CRESTLINE DIRECT FINANCE, L.P.,	 
	as Collateral Agent	 
	 	 
	By:	Crestline Direct Finance (GP), L.L.C., its general partner	 
	 	 
	 	By:	Crestline Investors, Inc., its manager	 
	 	 
	By:	Name:	 
	 	Title:	 

 

    EXHIBIT F-5

     

    

 

EXHIBIT G-1 TO

CREDIT AND GUARANTY AGREEMENT

 

[FORM OF]

 

U.S. TAX COMPLIANCE CERTIFICATE

(For Foreign Lenders That Are Not Partnerships For U.S. Federal
Income Tax Purposes)

 

Reference is hereby made to
the Credit and Guaranty Agreement, dated as of [ ] [ ], 2021 (as amended, restated, replaced, supplemented or otherwise modified from
time to time, the “Credit Agreement”), by and among HPI HOLDCO, LLC., a Delaware limited liability company (the
 “Borrower”), HPI HOLDINGS, LLC, a Delaware limited liability (“Holdings”), CERTAIN SUBSIDIARIES
OF HOLDINGS, as Guarantors, the Lenders party thereto from time to time, and CRESTLINE DIRECT FINANCE, L.P., as Administrative
Agent and Collateral Agent.

 

Pursuant to the provisions of
Section 2.20 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial owner of
the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) it
is not a bank within the meaning of Section 881(c)(3)(A) of the Internal Revenue Code, (iii) it is not a 10-percent shareholder
of the Borrower within the meaning of Section 871(h)(3)(B) of the Internal Revenue Code and (iv) it is not a controlled
foreign corporation as described in Section 881(c)(3)(C) of the Internal Revenue Code.

 

The undersigned has furnished
Administrative Agent and Borrower with a certificate of its non-U.S. Person status on an IRS Form W-8BEN or IRS Form W-8BEN-E,
as applicable. By executing and delivering this certificate, the undersigned agrees that (1) if the information provided on this
certificate changes, the undersigned shall promptly so inform Borrower and Administrative Agent, and (2) the undersigned shall have
at all times furnished Borrower and Administrative Agent with a properly completed and currently effective certificate in either the calendar
year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments.

 

Unless otherwise defined herein,
terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.

 

	[NAME OF
    LENDER]	 
	 	 
	By:	 	 
	Name:	 
	Title:	 

Date:                              ,
20[__]

 

    EXHIBIT G-1-1

     

    

 

EXHIBIT G-2 TO

CREDIT AND GUARANTY
AGREEMENT

 

[FORM OF]

 

U.S. TAX COMPLIANCE CERTIFICATE

(For Foreign Participants That Are Not Partnerships
For U.S. Federal Income Tax Purposes)

 

Reference is hereby made to
the Credit and Guaranty Agreement, dated as of [ ] [ ], 2021 (as amended, restated, replaced, supplemented or otherwise modified from
time to time, the “Credit Agreement”), by and among HPI HOLDCO, LLC., a Delaware limited liability company (the
 “Borrower”), HPI HOLDINGS, LLC, a Delaware limited liability (“Holdings”), CERTAIN SUBSIDIARIES
OF HOLDINGS, as Guarantors, the Lenders party thereto from time to time, and CRESTLINE DIRECT FINANCE, L.P., as Administrative
Agent and Collateral Agent.

 

Pursuant to the provisions of
Section 2.20 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial owner of
the participation in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of
the Internal Revenue Code, (iii) it is not a 10-percent shareholder of Borrower within the meaning of Section 871(h)(3)(B) of
the Internal Revenue Code and (iv) it is not a controlled foreign corporation as described in Section 881(c)(3)(C) of the
Internal Revenue Code.

 

The undersigned has furnished
its participating Lender with a certificate of its non-U.S. Person status on an IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable.
By executing and delivering this certificate, the undersigned agrees that (1) if the information provided on this certificate changes,
the undersigned shall promptly so inform such Lender in writing, and (2) the undersigned shall have at all times furnished such Lender
with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned,
or in either of the two calendar years preceding such payments.

 

Unless otherwise defined herein,
terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.

 

	[NAME OF  PARTICIPANT]	 
	 	 
	By:	 	 
	Name:	 
	Title:	 

Date:                              ,
20[__]

 

    EXHIBIT G-2-1

     

    

 

EXHIBIT G-3 TO

CREDIT AND GUARANTY
AGREEMENT

 

[FORM OF]

 

U.S. TAX COMPLIANCE CERTIFICATE

(For Foreign Participants That Are Partnerships
For U.S. Federal Income Tax Purposes)

 

Reference is hereby made to
the Credit and Guaranty Agreement, dated as of [ ] [ ], 2021 (as amended, restated, replaced, supplemented or otherwise modified from
time to time, the “Credit Agreement”), by and among HPI HOLDCO, LLC., a Delaware limited liability company (the
 “Borrower”), HPI HOLDINGS, LLC, a Delaware limited liability (“Holdings”), CERTAIN SUBSIDIARIES
OF HOLDINGS, as Guarantors, the Lenders party thereto from time to time, and CRESTLINE DIRECT FINANCE, L.P., as Administrative
Agent and Collateral Agent.

 

Pursuant to the provisions of
Section 2.20 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the participation
in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners
of such participation,

 

(iii)            with
respect to such participation, neither the undersigned nor any of its direct or indirect partners/members is a bank extending credit pursuant
to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of
the Internal Revenue Code, (iv) none of its direct or indirect partners/members is a 10-percent shareholder of Borrower within the
meaning of Section 871(h)(3)(B) of the Internal Revenue Code and (v) none of its direct or indirect partners/members is
a controlled foreign corporation as described in Section 881(c)(3)(C) of the Internal Revenue Code.

 

The undersigned has furnished
its participating Lender with an IRS Form W-8IMY accompanied by one of the following forms from each of its partners/members that
is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, or (ii) an
IRS Form W-8IMY accompanied by an IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, from each of such partner’s/member’s
beneficial owners that is claiming the portfolio interest exemption. By executing and delivering this certificate, the undersigned agrees
that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Lender and (2) the
undersigned shall have at all times furnished such Lender with a properly completed and currently effective certificate in either the
calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments.

 

Unless otherwise defined herein,
terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.

 

	[NAME OF  PARTICIPANT]	 
	 	 
	By:	 	 
	Name:	 
	Title:	 

Date:                              ,
20[__]

 

    EXHIBIT G-3-1

     

    

 

EXHIBIT G-4 TO

CREDIT AND GUARANTY
AGREEMENT

 

[FORM OF]

 

U.S. TAX COMPLIANCE CERTIFICATE

(For Foreign Lenders That Are Partnerships For
U.S. Federal Income Tax Purposes)

 

Reference is hereby made to
the Credit and Guaranty Agreement, dated as of [ ] [ ], 2021 (as amended, restated, replaced, supplemented or otherwise modified from
time to time, the “Credit Agreement”), by and among HPI HOLDCO, LLC., a Delaware limited liability company (the
 “Borrower”), HPI HOLDINGS, LLC, a Delaware limited liability (“Holdings”), CERTAIN SUBSIDIARIES
OF HOLDINGS, as Guarantors, the Lenders party thereto from time to time, and CRESTLINE DIRECT FINANCE, L.P., as Administrative
Agent and Collateral Agent.

 

Pursuant to the provisions of
Section 2.20 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the Loan(s) (as
well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its direct or indirect
partners/members are the sole beneficial owners of such Loan(s) (as well as any Note(s) evidencing such Loan(s)), (iii) with
respect to the extension of credit pursuant to the Credit Agreement or any other Credit Document, neither the undersigned nor any of its
direct or indirect partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its
trade or business within the meaning of Section 881(c)(3)(A) of the Internal Revenue Code, (iv) none of its direct or indirect
partners/members is a 10-percent shareholder of Borrower within the meaning of Section 871(h)(3)(B) of the Internal Revenue
Code and (v) none of its direct or indirect partners/members is a controlled foreign corporation as described in Section 881(c)(3)(C) of
the Internal Revenue Code.

 

The undersigned has furnished
Administrative Agent and Borrower with IRS Form W- 8IMY accompanied by one of the following forms from each of its partners/members
that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, or (ii) an
IRS Form W-8IMY accompanied by an IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, from each of such partner’s/member’s
beneficial owners that is claiming the portfolio interest exemption. By executing and delivering this certificate, the undersigned agrees
that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform Borrower and Administrative
Agent, and (2) the undersigned shall have at all times furnished Borrower and Administrative Agent with a properly completed and
currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the
two calendar years preceding such payments.

 

Unless otherwise defined herein,
terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.

 

	[NAME OF LENDER]	 
	 	 
	By:	 	 
	Name:	 
	Title:	 

Date:                              ,
20[__]

 

    EXHIBIT G-4-1

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