Document:

U.S. Security Agreement dated as of June 16, 2010

 Exhibit 10.2 

 
  

 
 U.S. SECURITY AGREEMENT

 among 

PICASSO INTERMEDIATE COMPANY, INC., 

(which immediately following the Initial Borrowing Date will be renamed

BWAY INTERMEDIATE COMPANY, INC.) 

PICASSO MERGER SUB, INC., 

BWAY HOLDING COMPANY, 

CERTAIN SUBSIDIARIES OF PICASSO INTERMEDIATE COMPANY, INC. 

and 
 DEUTSCHE
BANK TRUST COMPANY AMERICAS, 
 as COLLATERAL AGENT 

 
  

Dated as of June 16, 2010 
  

 
  

 
  

 TABLE OF CONTENTS 

 

			
	  	  	Page
	 ARTICLE I SECURITY INTERESTS
	  	2
		
	 1.1      Grant of Security Interests
	  	2
	 1.2      Certain Exceptions
	  	4
	 1.3      Power of Attorney
	  	5
		
	 ARTICLE II GENERAL REPRESENTATIONS, WARRANTIES AND COVENANTS
	  	6
		
	 2.1      Necessary Perfection Action
	  	6
	 2.2      No Liens
	  	6
	 2.3      Other Financing Statements
	  	6
	 2.4      Chief Executive Office, Record Locations
	  	7
	 2.5      Location of Inventory and Equipment
	  	7
	 2.6      Legal Names; Type of Organization (and Whether a Registered Organization); Jurisdiction of
Organization; Location; Organizational Identification Numbers; Federal Employer Identification Number; Changes Thereto; etc.
	  	7
	 2.7      Trade Names; Etc.
	  	8
	 2.8      Certain Significant Transactions
	  	8
	 2.9      As-Extracted Collateral; Timber-to-be-Cut
	  	8
	 2.10    Collateral in the Possession of a Bailee
	  	8
	 2.11    Recourse
	  	9
		
	 ARTICLE III SPECIAL PROVISIONS CONCERNING ACCOUNTS; CONTRACT RIGHTS; INSTRUMENTS; CHATTEL PAPER AND CERTAIN OTHER
COLLATERAL
	  	9
		
	 3.1      [Reserved]
	  	9
	 3.2      Maintenance of Records
	  	9
	 3.3      Direction to Account Debtors; Contracting Parties; etc.
	  	9
	 3.4      Modification of Terms; etc.
	  	10
	 3.5      Collection
	  	10
	 3.6      Instruments
	  	10
	 3.7      Grantors Remain Liable Under Accounts
	  	11
	 3.8      Grantors Remain Liable Under Contracts
	  	11
	 3.9      Deposit Accounts; Etc.
	  	11
	 3.10    Letter-of-Credit Rights
	  	13
	 3.11    Commercial Tort Claims
	  	13
	 3.12    Chattel Paper
	  	13
	 3.13    Further Actions
	  	14
		
	 ARTICLE IV SPECIAL PROVISIONS CONCERNING TRADEMARKS AND DOMAIN NAMES
	  	14
		
	 4.1      Additional Representations and Warranties
	  	14

  

 (i) 

			
	 4.2      Licenses and Assignments
	  	14
	 4.3      Infringements
	  	14
	 4.4      Preservation of Marks and Domain Names
	  	15
	 4.5      Maintenance of Registration
	  	15
	 4.6      Future Registered Marks and Domain Names
	  	15
	 4.7      Remedies
	  	15
		
	 ARTICLE V SPECIAL PROVISIONS CONCERNING PATENTS, COPYRIGHTS AND TRADE SECRETS
	  	16
		
	 5.1      Additional Representations and Warranties
	  	16
	 5.2      Licenses and Assignments
	  	16
	 5.3      Infringements
	  	16
	 5.4      Maintenance of Patents or Copyrights
	  	17
	 5.5      Prosecution of Patent or Copyright Applications
	  	17
	 5.6      Other Patents and Copyrights
	  	17
	 5.7      Remedies
	  	17
		
	 ARTICLE VI PROVISIONS CONCERNING ALL COLLATERAL
	  	18
		
	 6.1      Protection of Collateral Agent’s Security
	  	18
	 6.2      Warehouse Receipts Non-Negotiable
	  	18
	 6.3      Additional Information
	  	18
	 6.4      Further Actions
	  	18
	 6.5      Financing Statements
	  	18
		
	 ARTICLE VII REMEDIES UPON OCCURRENCE OF AN EVENT OF DEFAULT
	  	19
		
	 7.1      Remedies; Obtaining the Collateral Upon Default
	  	19
	 7.2      Remedies; Disposition of the Collateral
	  	20
	 7.3      Waiver of Claims
	  	21
	 7.4      Application of Proceeds
	  	22
	 7.5      Remedies Cumulative
	  	25
	 7.6      Discontinuance of Proceedings
	  	25
		
	 ARTICLE VIII INDEMNITY
	  	25
		
	 8.1      Indemnity
	  	25
	 8.2      Indemnity Obligations Secured by Collateral; Survival
	  	27
		
	 ARTICLE IX DEFINITIONS
	  	27
		
	 ARTICLE X MISCELLANEOUS
	  	35
		
	 10.1    Notices
	  	35
	 10.2    Waiver; Amendment
	  	36
	 10.3    Obligations Absolute
	  	36
	 10.4    Successors and Assigns
	  	36
	 10.5    Headings Descriptive
	  	36

  

 (ii) 

			
	 10.6    GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE; WAIVER OF JURY TRIAL
	  	37
	 10.7    Grantor’s Duties
	  	38
	 10.8    Termination; Release
	  	38
	 10.9    Counterparts
	  	39
	 10.10 Severability
	  	40
	 10.11 The Collateral Agent and the other Secured Creditors
	  	40
	 10.12 Additional Grantors
	  	40

  

			
	ANNEX A	 	Schedule of Chief Executive Offices Address(es) of Chief Executive Office
	ANNEX B	 	Schedule of Inventory and Equipment Locations
	ANNEX C	 	Schedule of Legal Names, Type of Organization (and Whether a Registered Organization), Jurisdiction of Organization, Location and Organizational Identification
Numbers
	ANNEX D	 	Schedule of Trade and Fictitious Names
	ANNEX E	 	Description of Certain Significant Transactions Occurring Within One Year Prior to the Date of the Security Agreement
	ANNEX F	 	Schedule of Deposit Accounts
	ANNEX G	 	[Reserved]
	ANNEX H	 	Schedule of Commercial Tort Claims
	ANNEX I	 	Schedule of Marks and Applications; Internet Domain Name Registrations
	ANNEX J	 	Schedule of Patents
	ANNEX K	 	Schedule of Copyrights
	ANNEX L	 	Grant of Security Interest in United States Trademarks
	ANNEX M	 	Grant of Security Interest in United States Patents
	ANNEX N	 	Grant of Security Interest in United States Copyrights

[Remainder of this page intentionally left blank] 
  

 (iii) 

 U.S. SECURITY AGREEMENT 

SECURITY AGREEMENT, dated as of June 16, 2010, made by each of the undersigned grantors (each, a “Grantor” and, together
with any other entity that becomes an grantor hereunder pursuant to Section 10.12 hereof, the “Grantors”) in favor of Deutsche Bank Trust Company Americas, as Collateral Agent (together with any successor Collateral Agent, the
“Collateral Agent”), for the benefit of the Secured Creditors (as defined below). Certain capitalized terms as used herein are defined in Article IX hereof. Except as otherwise defined herein, all capitalized terms used herein and
defined in the Credit Agreement (as defined below) shall be used herein as therein defined. 
 W I T N E S S E T H:

 WHEREAS, PICASSO INTERMEDIATE COMPANY, INC., a Delaware corporation (which immediately following the Initial Borrowing Date
will be renamed BWAY INTERMEDIATE COMPANY, INC.) (“Holdings”), PICASSO MERGER SUB, INC., a Delaware corporation (the “Merger Sub”), which, on the Initial Borrowing Date, will merge into, and be survived by, BWAY
Holding Company, a Delaware corporation, with the surviving corporation the “U.S. Borrower”, ICL Industrial Containers ULC, a Nova Scotia unlimited liability company (the “Canadian Borrower” and, together with the
U.S. Borrower, the “Borrowers” and each a “Borrower”), the Lenders party thereto from time to time (the “Lenders”), Deutsche Bank Trust Company Americas, as the administrative agent (together with
any successor Administrative Agent, the “Administrative Agent”), Barclays Bank PLC, as Documentation Agent, Deutsche Bank Securities Inc., Banc of America Securities LLC and Barclays Capital, as Joint Lead Arrangers, have entered
into a Credit Agreement, dated as of even date herewith (as amended, modified, restated and/or supplemented from time to time, the “Credit Agreement”), providing for the making of Loans to, and the issuance of, and participation in,
Letters of Credit for the respective accounts of the Borrowers, all as contemplated therein (the Lenders, each Issuing Lender, the Administrative Agent, the Collateral Agent and each other Agent are herein called the “Lender
Creditors”); 
 WHEREAS, each Borrower and/or one or more of their respective Restricted Subsidiaries may at any time
and from time to time enter into one or more Interest Rate Protection Agreements and Other Hedging Agreements with one or more Lenders or any affiliate thereof (each such Lender or affiliate, even if the respective Lender subsequently ceases to be a
Lender under the Credit Agreement for any reason, together with such Lender’s or affiliate’s successors and assigns, if any, collectively, the “Other Creditors” and, together with the Lender Creditors, the “Secured
Creditors”); 
 WHEREAS, pursuant to the Credit Agreement Party Guaranty, each of Holdings, the U.S. Borrower and the
Canadian Borrower has guaranteed to the Secured Creditors the payment when due of all of its Relevant Guaranteed Obligations as described therein; 

WHEREAS, pursuant to the U.S. Subsidiaries Guaranty, each U.S. Subsidiary Guarantor has jointly and severally guaranteed to the Secured
Creditors the payment when due of all Guaranteed Obligations (as defined in the U.S. Subsidiaries Guaranty); 

 WHEREAS, it is a condition precedent to the making of Loans to the Borrowers and the
issuance of, and participation in, Letters of Credit for the respective accounts of the Borrowers under the Credit Agreement and to the Other Creditors entering into Interest Rate Protection Agreements or Other Hedging Agreements that each Grantor
shall have executed and delivered to the Collateral Agent this Agreement; and 
 WHEREAS, each Grantor will obtain benefits from
the incurrence of Loans by the Borrowers and the issuance of, and participation in, Letters of Credit for the respective accounts of the Borrowers under the Credit Agreement and the entering into by the Borrowers and/or one or more of their
respective Restricted Subsidiaries of Interest Rate Protection Agreements and Other Hedging Agreements and, accordingly, desires to execute this Agreement in order to satisfy the condition described in the preceding paragraph and to induce the
Lenders to make Loans to the Borrowers and issue, and/or participate in, Letters of Credit for the respective accounts of the Borrowers and the Other Creditors to enter into Interest Rate Protection Agreements and Other Hedging Agreements with the
Borrowers and/or one or more of their respective Restricted Subsidiaries; 
 NOW, THEREFORE, in consideration of the benefits
accruing to each Grantor, the receipt and sufficiency of which are hereby acknowledged, each Grantor hereby makes the following representations and warranties to the Collateral Agent for the benefit of the Secured Creditors and hereby covenants and
agrees with the Collateral Agent for the benefit of the Secured Creditors as follows: 
 ARTICLE I 

SECURITY INTERESTS 

1.1 Grant of Security Interests. (a) As security for the prompt and complete payment and performance when due of all of the
Obligations, each Grantor does hereby pledge and grant to the Collateral Agent, for the benefit of the Secured Creditors, a continuing security interest in all of the right, title and interest of such Grantor in, to and under all of the following
personal property and fixtures (and all rights therein) of such Grantor, or in which or to which such Grantor has any rights, in each case whether now existing or hereafter from time to time acquired (but excluding any Excluded Collateral (as
defined below)): 
 (i) each and every Account; 

(ii) all cash; 

(iii) the Cash Collateral Account and all monies, securities, Instruments and other investments deposited or required to
be deposited in the Cash Collateral Account; 
 (iv) all Chattel Paper (including, without limitation, all
Tangible Chattel Paper and all Electronic Chattel Paper); 
 (v) all Commercial Tort Claims; 

 

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 (vi) all Software of such Grantor and all intellectual property rights
therein (including all Software licensing rights) and all other proprietary information of such Grantor, including but not limited to all writings, plans, specifications and schematics, all engineering drawings, customer lists, Domain Names, Trade
Secret Rights, and all recorded data of any kind or nature, regardless of the medium of recording; 
 (vii)
Contracts, together with all Contract Rights arising thereunder; 
 (viii) all Copyrights; 

(ix) all Equipment; 

(x) all Deposit Accounts and all other demand, deposit, time, savings, cash management, passbook and similar accounts
maintained by such Grantor with any Person and all monies, securities, Instruments and other investments deposited or required to be deposited in any of the foregoing; 

(xi) all Documents; 

(xii) all General Intangibles; 

(xiii) all Goods; 

(xiv) all Instruments; 

(xv) all Inventory; 

(xvi) all Investment Property; 

(xvii) all Letter-of-Credit Rights (whether or not the respective letter of credit is evidenced by a writing); 

(xviii) all Marks, together with the goodwill of the business of such Grantor symbolized by the Marks; 

(xix) all Patents; 

(xx) all Permits; 

(xxi) all Supporting Obligations; and 

(xxii) all Proceeds and products of any and all of the foregoing (all of the above, the “Collateral”).

 (b) The security interest of the Collateral Agent under this Agreement extends to all Collateral that any Grantor may
acquire, or with respect to which any Grantor may obtain rights, at any time during the term of this Agreement. 
  

 -3- 

 1.2 Certain Exceptions. Notwithstanding Section 1.1, no security interest is or
will be granted pursuant hereto in any right, title or interest of any Grantor under or in (each of (a) through (h) collectively, the “Excluded Collateral”): 

(a) any Instruments, Contracts, Chattel Paper, General Intangibles, licenses or other contracts or agreements with or issued by Persons
other than Holdings or a Subsidiary of Holdings or an Affiliate thereof (collectively, “Excluded Agreements”) that would otherwise be included in the Collateral (and such Excluded Agreements shall not be deemed to constitute a part
of the Collateral) for so long as, and to the extent that, the granting of such a security interest pursuant hereto would result in a breach, default or termination of such Excluded Agreements (in each case, except to the extent any such breach,
default or termination would be rendered ineffective under the UCC or other applicable law); provided, however, that a security interest in an Excluded Agreement in favor of the Secured Creditors shall attach immediately at such time
as Grantor’s grant of a security interest in such Excluded Agreement no longer results in a breach, default or termination thereof or thereunder and, to the extent severable, shall attach immediately to any portion of such Excluded Agreement
that does not result in a respective breach, default or termination thereof or thereunder, including, without limitation, any proceeds of such Excluded Agreement; provided further, that, in furtherance of the foregoing, each Grantor
agrees that it shall not amend any material Excluded Agreement in effect as of the date hereof so that the grant of a security interest therein would result in a breach, default or termination of such Excluded Agreement; or 

(b) equity interests in any first-tier foreign Subsidiary in excess of 65% of the total outstanding Voting Equity Interests of such
first-tier foreign Subsidiary; 
 (c) any “intent to use” Trademark applications for which a statement of use has not
been filed (but only until such statement is filed whereupon such applications shall be automatically subject to the Lien granted herein and deemed included in the Collateral); 

(d) any rights or property to the extent that any valid and enforceable law or regulation applicable to such rights or property prohibits
the creation of a security interest therein; 
 (e) those assets as to which the Collateral Agent shall determine in its sole
discretion that the cost of obtaining a security interest are excessive in relation to the value of the security to be afforded thereby; 

(f) in the case of foreign jurisdictions, those assets to the extent that such grant of a security interest is prohibited by the
limitations of applicable local law; 
 (g) any Equity Interests in a joint venture or other non Wholly-Owned Subsidiary to the
extent that granting a security interest in or lien on such Equity Interests is not permitted by the governing documents of such joint venture or other non Wholly-Owned Subsidiary; 

(h) Excluded Deposit Accounts; and 

(i) any of the following: 

(1) any asset that would otherwise be included in the Collateral (and such asset shall not be deemed to constitute a part
of the Collateral) if such asset is subject to a Lien permitted by Section 10.01(vi) of the Credit Agreement; 
  

 -4- 

 (2) any Equipment, machinery or other fixed asset that would otherwise be
included in the Collateral (and such Equipment, machinery or other fixed asset shall not be deemed to constitute a part of the Collateral) if such Equipment, machinery or other fixed asset is subject to a Lien permitted by Section 10.01(vii) of
the Credit Agreement; 
 (3) any property that would otherwise be included in the Collateral (and such property
shall not be deemed to constitute a part of the Collateral) if such property has been sold or otherwise transferred in connection with a sale-leaseback transaction permitted under Section 10.02(xiii) of the Credit Agreement, or is subject to
any Liens permitted under Section 10.01(xviii) of the Credit Agreement, or constitutes the Proceeds or products of any property that has been so sold or otherwise transferred so long as such Proceeds or products remain subject to the Liens
referenced above in this clause (b)(iii); and 
 (4) any property or asset that would otherwise be included in
the Collateral (and such property or asset shall not be deemed to constitute a part of the Collateral) if such property or assets is subject to a Lien permitted by Section 10.01(xiv) of the Credit Agreement; 

in each case pursuant to preceding clauses (i)(1) through (4), for so long as, and to the extent that, the granting or existence of such a
security interest pursuant hereto would result in a breach, default or termination of any agreement relating to the respective Lien or obligations secured thereby (in each case, except to the extent any such breach, default or termination would be
rendered ineffective under the UCC or other applicable law); provided that immediately upon repayment of the Indebtedness and/or other monetary obligation secured by a Lien referenced in clauses (i)(1) through (4), the relevant Grantor shall
be deemed to have granted a security interest in all of its rights, title and interests under or in such asset, Equipment or other property that is the subject of such Lien. 

1.3 Power of Attorney. Each Grantor hereby constitutes and appoints the Collateral Agent its true and lawful attorney,
irrevocably, with full power after the occurrence of and during the continuance of an Event of Default (in the name of such Grantor or otherwise) to act, require, demand, receive, compound and give acquittance for any and all moneys and claims for
moneys due or to become due to such Grantor under or arising out of the Collateral, to endorse any checks or other instruments or orders in connection therewith and to file any claims or take any action or institute any proceedings which the
Collateral Agent may deem to be reasonably necessary or advisable to protect the interests of the Secured Creditors, which appointment as attorney is coupled with an interest. 

 

 -5- 

 ARTICLE II 

GENERAL REPRESENTATIONS, WARRANTIES AND COVENANTS 

Each Grantor represents, warrants and, until the Termination Date, covenants, which representations, warranties and covenants shall survive execution and
delivery of this Agreement, as follows: 
 2.1 Necessary Perfection Action. The security interest granted to the
Collateral Agent pursuant to this Agreement in and to the Collateral for the benefit of the Collateral Agent and the Secured Creditors creates a valid security interest and Lien upon such Grantor’s right, title and interest in and to the
Collateral. Except with regard to (i) Liens (if any) on Specified Assets and (ii) any rights reserved in favor of the United States government as required by law (if any), such security interest will be duly perfected (A) upon the
filing of the UCC financing statements delivered to the Collateral Agent for filing in the appropriate jurisdictions set forth on Annex C, (B) in Deposit Accounts and the Cash Collateral Account upon the obtaining and maintenance of
“control” (as described in the UCC as in effect on the date hereof in the State of New York) by the Collateral Agent (it being understood that the Grantors shall have no obligation to obtain “control” of the Excluded Deposit
Accounts), (C) upon the recordation of certain security interests of issued or applied-for Patents, registered or applied-for Marks and registered or applied-for Copyrights in the United States Patent and Trademark Office or the United States
Copyright Office, as the case may be; provided, however, that additional filings may be necessary to perfect the Collateral Agent’s security interest in, and Lien on, any Patents, Marks, Copyrights, Domain Names, Trade Secret
Rights and other intellectual property acquired after the date hereof, and (D) upon the receipt by the Collateral Agent of all instruments, chattel paper and certificated pledged Equity Interests constituting Collateral. Notwithstanding the
foregoing, nothing in this Agreement shall require any Grantor to make any filing or take any action to record or perfect the Collateral Agent’s security interest in and Lien on any Patents, Marks, Copyrights, Domain Names, Trade Secret Rights
and other intellectual property of Grantor outside the United States. 
 Upon the actions taken under this Section 2.1,
such security interest will be superior to and prior to all other Liens of all other Persons (other than Permitted Liens), and enforceable as such as against all other Persons (except to the extent that the enforceability thereof may be limited by
applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws generally affecting creditors’ rights and by equitable principles (regardless of whether enforcement is sought in equity or at law) other than Ordinary Course
Transferees. 
 2.2 No Liens. Such Grantor is, and as to all Collateral acquired by it from time to time after the date
hereof such Grantor will be, the owner of, or otherwise have the right to use, all Collateral free from any Lien of any Person (other than Permitted Liens), and such Grantor shall, at its own expense, take all reasonable actions necessary to defend
the Collateral against all claims and demands of all Persons at any time claiming the same or any interest therein adverse to the Collateral Agent. 

2.3 Other Financing Statements. As of the date hereof, there is no financing statement (or similar statement or instrument of
registration under the law of any jurisdiction) covering or purporting to cover any interest of any kind in the Collateral (other than financing statements filed in respect of Permitted Liens), and so long as the Termination Date has not occurred,
such Grantor will not authorize to be filed in any public office any financing statement (or similar statement or instrument of registration under the law of any jurisdiction) or statements relating to the Collateral, except financing statements
filed or to be filed in respect of and covering the security interests granted hereby by such Grantor or in connection with Permitted Liens. 
  

 -6- 

 2.4 Chief Executive Office, Record Locations. The chief executive office of such
Grantor is, on the date of this Agreement, located at the address indicated on Annex A hereto for such Grantor. During the period of the four calendar months preceding the date of this Agreement, the chief executive office of such Grantor has not
been located at any address other than that indicated on Annex A in accordance with the immediately preceding sentence, in each case unless each such other address is also indicated on Annex A hereto for such Grantor. 

2.5 Location of Inventory and Equipment. All Inventory and Equipment (having a fair market value in excess of $250,000 with
respect to Collateral comprising Equipment only) held on the date hereof, or held at any time during the four calendar months prior to the date hereof, by each Grantor, other than Inventory in transit or Equipment moved in the ordinary course of
business, is located at one of the locations shown on Annex B hereto for such Grantor. 
 2.6 Legal Names; Type of
Organization (and Whether a Registered Organization); Jurisdiction of Organization; Location; Organizational Identification Numbers; Federal Employer Identification Number; Changes Thereto; etc. As of the Initial Borrowing Date, the exact legal
name of each Grantor, the type of organization of such Grantor, whether or not such Grantor is a Registered Organization, the jurisdiction of organization of such Grantor, such Grantor’s Location, the organizational identification number (if
any) of such Grantor and the Federal Employer Identification Number of such Grantor (if any), is listed on Annex C hereto for such Grantor. Such Grantor shall not change its legal name, its type of organization, its status as a Registered
Organization (in the case of a Registered Organization), its jurisdiction of organization, its Location, its organizational identification number (if any) or its Federal Employer Identification Number (if any) from that used on Annex C hereto,
except that any such changes shall be permitted (so long as not in violation of the applicable requirements of the Secured Debt Agreements and so long as same do not involve (x) a Registered Organization ceasing to constitute same or
(y) such Grantor changing its jurisdiction of organization or Location from the United States or a State thereof to a jurisdiction of organization or Location, as the case may be, outside the United States or a State thereof) if (i) it
shall have given to the Collateral Agent not less than 5 Business Days’ prior written notice of each change to the information listed on Annex C (as adjusted for any subsequent changes thereto previously made in accordance with this sentence),
together with a supplement to Annex C which shall update all information contained therein for such Grantor, and (ii) in connection with the respective such change or changes, it shall have taken all action reasonably requested by the
Collateral Agent to maintain the security interests of the Collateral Agent in the Collateral intended to be granted hereby at all times fully perfected to the extent described in Section 2.1 and in full force and effect. In addition, to the
extent that such Grantor does not have an organizational identification number on the date hereof and later obtains one, such Grantor shall promptly thereafter notify the Collateral Agent of such organizational identification number and shall take
all actions reasonably satisfactory to the Collateral Agent to the extent necessary to maintain the security interest of the Collateral Agent in the Collateral intended to be granted hereby fully perfected to the extent described in Section 2.1
and in full force and effect. 
  

 -7- 

 2.7 Trade Names; Etc. Such Grantor has or operates in any jurisdiction under, or in
the preceding five years has had or has operated in any jurisdiction under, no trade names, fictitious names or other names except its legal name as specified in Annex C and such other trade or fictitious names as are listed on Annex D hereto for
such Grantor. 
 2.8 Certain Significant Transactions. During the one year period preceding the date of this Agreement,
no Person shall have merged or consolidated with or into any Grantor, and no Person shall have liquidated into, or transferred all or substantially all of its assets to, any Grantor, in each case except the mergers and consolidations contemplated by
the Transaction and the mergers and consolidations described in Annex E hereto. With respect to any transactions so described in Annex E hereto, the respective Grantor shall have furnished such information with respect to the Person (and the assets
of the Person and locations thereof) which merged with or into or consolidated with such Grantor, or was liquidated into or transferred all or substantially all of its assets to such Grantor, and shall have furnished to the Collateral Agent such UCC
lien searches as may have been reasonably requested with respect to such Person and its assets, to establish that no security interest (excluding Permitted Liens) continues perfected on the date hereof with respect to any Person described above (or
the assets transferred to the respective Grantor by such Person), including without limitation pursuant to Section 9-316(a)(3) of the UCC. 

2.9 As-Extracted Collateral; Timber-to-be-Cut. On the date hereof, such Grantor does not own, or expect to acquire, any property
which constitutes, or would constitute, As-Extracted Collateral or Timber-to-be-Cut. If at any time after the date of this Agreement such Grantor owns, acquires or obtains rights to any As-Extracted Collateral or Timber-to-be-Cut, such Grantor shall
concurrently with the delivery of the next Compliance Certificate provided under the Credit Agreement thereafter furnish the Collateral Agent with written notice thereof (which notice shall describe in reasonable detail the As-Extracted Collateral
and/or Timber-to-be-Cut and the locations thereof) and shall take all actions as may be deemed reasonably necessary or desirable by the Collateral Agent to perfect the security interest of the Collateral Agent therein. 

2.10 Collateral in the Possession of a Bailee. If any Inventory or other Goods, the aggregate fair market value of which is equal
to or greater than $500,000, are at any time in the possession of a bailee, such Grantor shall concurrently with the delivery of the next Compliance Certificate provided under the Credit Agreement thereafter furnish the Collateral Agent with written
notice thereof and, if requested by the Collateral Agent, shall use its reasonable efforts to promptly obtain an acknowledgment from such bailee, in form and substance reasonably satisfactory to the Collateral Agent, that the bailee holds such
Collateral for the benefit of the Collateral Agent and shall act upon the instructions of the Collateral Agent, without the further consent of such Grantor. The Collateral Agent agrees with such Grantor that the Collateral Agent shall not give any
such instructions unless an Event of Default has occurred and is continuing. 
  

 -8- 

 2.11 Recourse. This Agreement is made with full recourse to each Grantor and pursuant
to and upon all the warranties, representations, covenants and agreements on the part of such Grantor contained herein, in the Secured Debt Agreements and otherwise in writing in connection herewith or therewith. 

ARTICLE III 

SPECIAL PROVISIONS CONCERNING ACCOUNTS; CONTRACT RIGHTS; 

INSTRUMENTS; CHATTEL PAPER AND CERTAIN OTHER COLLATERAL 

3.1 [Reserved]. 

3.2 Maintenance of Records. Each Grantor will keep and maintain proper books and records of its Accounts and Contracts, in which
full, true and correct entries in conformity with generally accepted accounting principles and all Requirements of Law shall be made of all such Accounts and Contracts, and such Grantor will make the same available on such Grantor’s premises to
officers and designated representatives of the Collateral Agent for inspection in accordance with the terms and conditions set forth in the Credit Agreement. Upon the occurrence and during the continuance of an Event of Default and at the request of
the Collateral Agent, such Grantor shall, at its own cost and expense, deliver all tangible evidence of its Accounts and Contract Rights (including, without limitation, all documents evidencing the Accounts and all Contracts) and such books and
records to the Collateral Agent or to its representatives (copies of which evidence and books and records may be retained by such Grantor). Upon the occurrence and during the continuance of an Event of Default and if the Collateral Agent so
requests, such Grantor shall legend, in form and manner satisfactory to the Collateral Agent, the Accounts and the Contracts, as well as books, records and documents (if any) of such Grantor evidencing or pertaining to such Accounts and Contracts
with an appropriate reference to the fact that such Accounts and Contracts have been assigned to the Collateral Agent and that the Collateral Agent has a security interest therein. 

3.3 Direction to Account Debtors; Contracting Parties; etc. Upon the occurrence and during the continuance of an Event of Default,
after giving notice to the relevant Grantor of its intent to do so, if the Collateral Agent so directs any Grantor, such Grantor agrees (x) to cause all payments on account of the Accounts and Contracts to be made directly to the Cash
Collateral Account, (y) that the Collateral Agent may, at its option, directly notify the obligors in its own name or in the name of others with respect to any Accounts and/or under any Contracts to make payments with respect thereto as
provided in the preceding clause (x), and (z) that the Collateral Agent may enforce collection of any such Accounts and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent as
such Grantor; provided that, (x) any failure by the Collateral Agent to give or any delay in giving such notice to the relevant Grantor shall not affect the effectiveness of such notice or the other rights of the Collateral Agent created
by this Section 3.3 and (y) no such notice shall be required if an Event of Default of the type described in Section 11.05 of the Credit Agreement has occurred and is continuing. Without notice to or assent by any Grantor, the
Collateral Agent may, upon the occurrence and during the continuance of an Event of Default, apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Account toward the payment of the Obligations in the manner provided in
Section 7.4 of this Agreement. The reasonable costs and expenses of collection (including reasonable attorneys’ fees), whether incurred by a Grantor or the Collateral Agent, shall be borne by the relevant Grantor. The Collateral Agent
shall deliver a copy of each notice referred to in the preceding clause (y) to the relevant Grantor, provided that (x) the failure by the Collateral Agent to so notify such Grantor shall not affect the effectiveness of such notice
or the other rights of the Collateral Agent created by this Section 3.3 and (y) no such notice shall be required if an Event of Default of the type described in Section 11.05 of the Credit Agreement has occurred and is continuing.

  

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 3.4 Modification of Terms; etc. Except in accordance with such Grantor’s
ordinary course of business and consistent with reasonable business judgment or as permitted by Section 3.5 or as permitted by the Credit Documents, no Grantor shall rescind or cancel any indebtedness evidenced by any Account, or modify any
material term thereof or make any material adjustment with respect thereto, or extend or renew the same, or compromise or settle any material dispute, claim, suit or legal proceeding relating thereto, or sell any Account, or interest therein,
without the prior written consent of the Collateral Agent unless such rescissions, cancellations, modifications, adjustments, extensions, renewals, compromises, settlements, releases, or sales would not reasonably be expected to materially adversely
affect the value of the Accounts constituting Collateral taken as a whole. Except as otherwise permitted by the Credit Documents, no Grantor will do anything to impair the rights of the Collateral Agent in the Accounts or Contracts. 

3.5 Collection. Each Grantor shall endeavor in accordance with historical business practices to cause to be collected from the
account debtor named in each of its Accounts or obligor under any Contract, as and when due (including, without limitation, amounts which are delinquent, such amounts to be collected in accordance with generally accepted lawful collection
procedures) any and all amounts owing under or on account of such Account or Contract, and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such Account or under such Contract. Except as
otherwise directed by the Collateral Agent after the occurrence and during the continuation of an Event of Default, any Grantor may allow in the ordinary course of business as adjustments to amounts owing under its Accounts and Contracts (i) an
extension or renewal of the time or times of payment, or settlement for less than the total unpaid balance, which such Grantor finds appropriate in accordance with reasonable business judgment, (ii) a refund or credit due as a result of
returned or damaged merchandise or improperly performed services or for other reasons which such Grantor finds appropriate in accordance with reasonable business judgment and (iii) any other adjustments necessary or desirable in the
Grantor’s reasonable business judgment. The reasonable costs and expenses (including, without limitation, reasonable attorneys’ fees) of collection, whether incurred by a Grantor or the Collateral Agent, shall be borne by the relevant
Grantor. 
 3.6 Instruments. If any Grantor at any time holds or acquires any Instrument constituting Collateral with a
face value in excess of $500,000 individually (other than checks and other payment instruments received and collected in the ordinary course of business and promptly deposited into a Deposit Account), such Grantor shall, on or prior to the date of
the required delivery of the Compliance Certificate pursuant to the Credit Agreement following such acquisition, notify the Collateral Agent thereof, and upon request by the Collateral Agent will promptly deliver such Instrument to the Collateral
Agent appropriately endorsed to the order of the Collateral Agent, provided that, so long as no Event of Default shall have occurred and be continuing, such Grantor may retain for collection in the ordinary course of business any Instrument
received by such Grantor in the ordinary course of business, and the Collateral Agent shall, promptly upon request of such Grantor, make appropriate arrangements for making any Instruments in its possession and pledged by such Grantor available to
such Grantor for purposes of presentation, collection or renewal. If such Grantor retains possession of any Instruments pursuant to the terms hereof, upon request of the Collateral Agent, such Instrument shall be marked with the following legend:
“This writing and the obligations evidenced or secured hereby are subject to the security interests of Deutsche Bank Trust Company Americas, as collateral agent, for the benefit of itself and certain Lenders.”. 

 

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 3.7 Grantors Remain Liable Under Accounts. Anything herein to the contrary
notwithstanding, the Grantors shall remain liable under each of the Accounts to observe and perform all of the conditions and obligations to be observed and performed by it thereunder, all in accordance with the terms of any agreement giving rise to
such Accounts. Neither the Collateral Agent nor any other Secured Creditor shall have any obligation or liability under any Account (or any agreement giving rise thereto) by reason of or arising out of this Agreement or the receipt by the Collateral
Agent or any other Secured Creditor of any payment relating to such Account pursuant hereto, nor shall the Collateral Agent or any other Secured Creditor be obligated in any manner to perform any of the obligations of any Grantor under or pursuant
to any Account (or any agreement giving rise thereto), to make any payment, to make any inquiry as to the nature or the sufficiency of any payment received by them or as to the sufficiency of any performance by any party under any Account (or any
agreement giving rise thereto), to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to them or to which they may be entitled at any time or times.

 3.8 Grantors Remain Liable Under Contracts. Anything herein to the contrary notwithstanding, the Grantors shall remain
liable under each of the Contracts to observe and perform all of the conditions and obligations to be observed and performed by them thereunder, all in accordance with and pursuant to the terms and provisions of each Contract. Neither the Collateral
Agent nor any other Secured Creditor shall have any obligation or liability under any Contract by reason of or arising out of this Agreement or the receipt by the Collateral Agent or any other Secured Creditor of any payment relating to such
Contract pursuant hereto, nor shall the Collateral Agent or any other Secured Creditor be obligated in any manner to perform any of the obligations of any Grantor under or pursuant to any Contract, to make any payment, to make any inquiry as to the
nature or the sufficiency of any performance by any party under any Contract, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to them or to which they
may be entitled at any time or times. 
 3.9 Deposit Accounts; Etc. (a) No Grantor maintains, or at any time after the
date of this Agreement shall establish or maintain, any demand, time, savings, passbook or similar account, except for such accounts maintained with a bank (as defined in Section 9-102 of the UCC) whose jurisdiction (determined in accordance
with Section 9-304 of the UCC) is within a State of the United States and such existing accounts maintained by such Grantor on the date hereof with a bank whose jurisdiction is within a Province of Canada or the Commonwealth of Puerto Rico.
Annex F hereto accurately sets forth, as of the date of this Agreement, for each Grantor, each Deposit Account maintained by such Grantor (including a description thereof and the respective account number), the name of the respective bank with which
such Deposit Account is maintained, and the jurisdiction of the respective bank with respect to such Deposit Account. For each Deposit Account (other than the Excluded Deposit Accounts, the Cash Collateral Account or any other Deposit Account
maintained with the Collateral Agent), the respective Grantor shall use reasonable efforts to cause the bank with which the Deposit Account is maintained to execute and deliver to the Collateral Agent, within 90 days (or such later date as the
Collateral Agent may determine in its sole discretion) after the date of this Agreement or, if later, within 30 days of the time of the establishment of the respective Deposit Account, a “control agreement” in a form reasonably acceptable
to the Collateral Agent. If any bank with which a Deposit Account (other than an Excluded Deposit Account) is maintained refuses to, or does not, enter into such a “control agreement”, then the respective Grantor shall promptly (and in any
event within 90 days (or such later date as the Collateral Agent may determine in its sole discretion) after the date of this Agreement or, if later, 60 days after the establishment of such account (or such later date as the Collateral Agent may
determine in its sole discretion)) close the respective Deposit Account and transfer all balances therein to the Cash Collateral Account or another Deposit Account meeting the requirements of this Section 3.9. If any bank with which a Deposit
Account (other than an Excluded Deposit Account) is maintained refuses to enter into a “control agreement” on terms reasonably satisfactory to the Collateral Agent, then the Collateral Agent, at its option, may require that such Deposit
Account be terminated in accordance with the immediately preceding sentence. 
  

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 (b) After the date of this Agreement, no Grantor shall establish any new demand, time,
savings, passbook or similar account, except for Excluded Deposit Accounts and Deposit Accounts established and maintained with banks and meeting the requirements of preceding clause (a). Within 30 days of the time (or such later date as the
Collateral Agent may determine in its sole discretion) such Deposit Account is established, the appropriate “control agreement” shall be entered into in accordance with the requirements of preceding clause (a) and the respective
Grantor shall furnish to the Collateral Agent a supplement to Annex F hereto containing the relevant information with respect to the respective Deposit Account and the bank with which same is established. 

(c) The U.S. Borrower shall, and shall cause each of its Domestic Subsidiaries to, cause all amounts held in all Excluded Deposit
Accounts of the type described in clause (4) of the definition of Excluded Deposit Account (such Excluded Deposit Accounts, “Petty Cash Accounts”) at the close of each Business Day in excess of $500,000 in the aggregate (but
calculated to exclude monies on deposit in such Petty Cash Accounts reserved for the payment of checks (x) actually presented against the Petty Cash Accounts on such Business Day to the bank and/or banks with which the Petty Cash Accounts are
maintained or (y) actually issued and mailed (or sent by overnight courier) by the U.S. Borrower or its relevant Domestic Subsidiary to a payee (to the extent not (i) subsequently voided or cancelled or (ii) outstanding and unpaid for
a period in excess of 30 days from the date of such issuance) but for which no presentment has been made to the relevant bank or banks with which the Petty Cash Accounts are maintained) to be wired no later than the opening of business on each next
succeeding Business Day directly into another Deposit Account of the U.S. Borrower or the relevant Domestic Subsidiary that is subject to a “control agreement” that complies with the requirements of this Section 3.9. 

 

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 3.10 Letter-of-Credit Rights. If any Grantor is at any time a beneficiary under a
letter of credit with a stated amount of $1,000,000 or more, such Grantor shall, on or prior to the date of the required delivery of the Compliance Certificate pursuant to the Credit Agreement following the creation of such letter of credit, notify
the Collateral Agent thereof and, at the request of the Collateral Agent, such Grantor shall, pursuant to an agreement in form and substance reasonably satisfactory to the Collateral Agent, use its reasonable best efforts to (i) arrange for the
issuer and any confirmer of such letter of credit to consent to an assignment to the Collateral Agent of the proceeds of any drawing under such letter of credit or (ii) arrange for the Collateral Agent to become the transferee beneficiary of
such letter of credit, with the Collateral Agent agreeing, in each case, that the proceeds of any drawing under the letter of credit are to be applied as provided in this Agreement after the occurrence and during the continuance of an Event of
Default (it being understood that unless an Event of Default has occurred and is continuing such proceeds shall be released to such Grantor). 

3.11 Commercial Tort Claims. All Commercial Tort Claims of each Grantor in existence on the date of this Agreement are described
in Annex H hereto. If any Grantor shall at any time after the date of this Agreement hold or acquire a Commercial Tort Claim in an amount (taking the greater of the aggregate claimed damages thereunder or the reasonably estimated value thereof) of
$1,000,000 or more, such Grantor shall, on or prior to the date of the required delivery of the Compliance Certificate pursuant to the Credit Agreement following such acquisition, notify the Collateral Agent thereof in a writing signed by such
Grantor and describing the details thereof and shall grant to the Collateral Agent in such writing a security interest therein (subject to Permitted Liens) and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in
form and substance reasonably satisfactory to the Collateral Agent. 
 3.12 Chattel Paper. Upon the reasonable request of
the Collateral Agent made at any time or from time to time, each Grantor shall, on or prior to the date of the required delivery of the Compliance Certificate pursuant to the Credit Agreement following such request, furnish to the Collateral Agent a
list of all Electronic Chattel Paper held or owned by such Grantor. Furthermore, if requested by the Collateral Agent, each Grantor shall promptly take all actions which are reasonably practicable so that the Collateral Agent has “control”
of all Electronic Chattel Paper in accordance with the requirements of Section 9-105 of the UCC. Each Grantor will promptly (and in any event within 10 days) following any reasonable request by the Collateral Agent, deliver all of its Tangible
Chattel Paper with a value in excess of $500,000 to the Collateral Agent, provided that, so long as no Event of Default shall have occurred and be continuing, such Grantor may retain for collection in the ordinary course of business any
Chattel Paper received by such Grantor in the ordinary course of business, and the Collateral Agent shall, promptly upon request of such Grantor, make appropriate arrangements for making any Chattel Paper in its possession and pledged by such
Grantor available to such Grantor for purposes of presentation, collection or renewal. If such Grantor retains possession of any Chattel Paper pursuant to the terms hereof, upon request of the Collateral Agent, such Chattel Paper shall be marked
with the following legend: “This writing and the obligations evidenced or secured hereby are subject to the security interests of Deutsche Bank Trust Company Americas, as collateral agent, for the benefit of itself and certain Lenders.”.

  

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 3.13 Further Actions. Each Grantor will, at its own expense, make, execute, endorse,
acknowledge, file and/or deliver to the Collateral Agent from time to time such vouchers, invoices, schedules, confirmatory assignments, conveyances, financing statements, transfer endorsements, certificates, reports and other assurances or
instruments and take such further steps, including any and all actions as may be necessary or required under the Federal Assignment of Claims Act, relating to its Accounts, Contracts, Instruments and other property or rights which constitute
Collateral, as the Collateral Agent may reasonably require for the purpose of obtaining or preserving the full benefits of the security interests, rights and powers herein granted. 

ARTICLE IV 

SPECIAL PROVISIONS CONCERNING TRADEMARKS AND DOMAIN NAMES 

4.1 Additional Representations and Warranties. Each Grantor represents and warrants that it is the owner of the registered Marks
and Domain Names listed in Annex I hereto for such Grantor and that said listed Marks and Domain Names include all United States marks and applications for United States marks registered or filed in the United States Patent and Trademark Office and
all Domain Names that such Grantor owns. Each Grantor represents and warrants that it owns all Marks and Domain Names listed on Annex I hereto, except for such failure to own that has not had, and would not reasonably be expected to have, either
individually or in the aggregate, a Material Adverse Effect. Each Grantor further warrants that it has no knowledge of any third party claim received by it within the last twelve (12) months that any aspect of such Grantor’s present
business operations infringes any trademark, service mark or trade name of any other Person other than as has not, and would not, reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. Each Grantor
represents and warrants that all U.S. trademark registrations and applications and Domain Name registrations listed in Annex I hereto have not been canceled or opposed and, to such Grantor’s knowledge, are valid and subsisting, and that such
Grantor is not aware of any third-party claim that any of said registrations is invalid or unenforceable, and is not aware that there is any reason that any of said registrations is invalid or unenforceable, and is not aware that there is any reason
that any of said applications will not mature into registrations. Each Grantor hereby grants to the Collateral Agent an absolute power of attorney to sign, solely upon the occurrence and during the continuance of an Event of Default, any document
which may be required by the United States Patent and Trademark Office or Domain Name registrar in order to effect an absolute assignment of all right, title and interest in each Mark and/or Domain Name listed in Annex I hereto, and record the same.

 4.2 Licenses and Assignments. Except as otherwise permitted by the Secured Debt Agreements, each Grantor hereby agrees
not to divest itself of any right under any material Mark or material Domain Name absent prior written approval of the Collateral Agent. 

4.3 Infringements. Each Grantor agrees, promptly upon learning thereof, to notify the Collateral Agent in writing of the name and
address of, and to furnish such pertinent information that may be available to such Grantor with respect to, any party who such Grantor reasonably believes is infringing or diluting or otherwise violating any of such Grantor’s rights in and to
any Mark or Domain Name in any manner that would reasonably be expected to have a Material Adverse Effect, or with respect to any party claiming that such Grantor’s use of any Mark or Domain Name material to such Grantor’s business
violates in any material respect any intellectual property right of that party. Each Grantor further agrees to prosecute diligently in accordance with its reasonable business judgment, any Person infringing any Mark or Domain Name owned by it in any
manner that would reasonably be expected to have a Material Adverse Effect. 
  

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 4.4 Preservation of Marks and Domain Names. Each Grantor agrees to use its Marks and
Domain Names that are material to such Grantor’s business in interstate commerce during the time in which this Agreement is in effect to the extent required by the laws of the United States to maintain its rights in such Mark or Domain Name and
to take all such other actions as are reasonably necessary to preserve such Marks as trademarks or service marks under the laws of the United States (other than any such Marks that are no longer used or useful in its business or operations).

 4.5 Maintenance of Registration. Each Grantor shall, at its own expense, diligently process all documents reasonably
required to maintain all Mark and/or Domain Name registrations, including but not limited to affidavits of use and applications for renewals of registration in the United States Patent and Trademark Office for all of its material registered Marks,
and shall pay all fees and disbursements in connection therewith and shall not abandon any such filing of affidavit of use or any such application of renewal prior to the exhaustion of all administrative and judicial remedies without prior written
consent of the Collateral Agent, not to be unreasonably withheld (other than with respect to registrations and applications deemed by such Grantor in its reasonable business judgment to be no longer prudent to pursue). 

4.6 Future Registered Marks and Domain Names. If any Mark registration is issued hereafter to any Grantor as a result of any
application now or hereafter pending before the United States Patent and Trademark Office or any Domain Name is registered by Grantor, within 60 days of receipt of such certificate or similar indicia of ownership, such Grantor shall deliver to the
Collateral Agent a copy of such registration certificate or similar indicia of ownership, and a grant of a security interest in such Mark and/or Domain Name, to the Collateral Agent and at the expense of such Grantor, confirming the grant of a
security interest in such Mark and/or Domain Name to the Collateral Agent hereunder, the form of such security to be substantially in the form of Annex L hereto or in such other form as may be reasonably satisfactory to the Collateral Agent.

 4.7 Remedies. If an Event of Default shall occur and be continuing, the Collateral Agent may, by written notice to the
relevant Grantor, take any or all of the following actions: (i) declare the entire right, title and interest of such Grantor in and to each of the Marks and Domain Names, together with all trademark rights and rights of protection to the same,
vested in the Collateral Agent for the benefit of the Secured Creditors, in which event such right, title and interest shall immediately vest, in the Collateral Agent for the benefit of the Secured Creditors, and the Collateral Agent shall be
entitled to exercise the power of attorney referred to in Section 4.1 hereof to execute, cause to be acknowledged and notarized and record said absolute assignment with the applicable agency or registrar; (ii) take and use or sell the
Marks or Domain Names and the goodwill of such Grantor’s business symbolized by the Marks or Domain Names and the right to carry on the business and use the assets of such Grantor in connection with which the Marks or Domain Names have been
used (provided that any license shall be subject to reasonable quality control); and (iii) direct such Grantor to refrain, in which event such Grantor shall refrain, from using the Marks or Domain Names in any manner whatsoever, directly
or indirectly, and such Grantor shall execute such further documents that the Collateral Agent may reasonably request to further confirm this and to transfer ownership of the Marks or Domain Names owned by it and registrations and any pending
trademark applications in the United States Patent and Trademark Office or applicable Domain Name registrar therefor to the Collateral Agent. 
  

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 ARTICLE V 

SPECIAL PROVISIONS CONCERNING PATENTS, COPYRIGHTS AND TRADE SECRETS 

5.1 Additional Representations and Warranties. Each Grantor represents and warrants that it is the owner of all rights in
(i) all Trade Secret Rights, (ii) the Patents listed in Annex J hereto for such Grantor and that said Patents include all the United States patents and applications for United States patents that such Grantor owns as of the date hereof and
(iii) the Copyrights listed in Annex K hereto for such Grantor and that said Copyrights include all the United States copyrights registered with the United States Copyright Office and applications to United States copyrights that such Grantor
owns as of the date hereof. Each Grantor further warrants that it has no knowledge of any third party claim received by it within the past twelve (12) months that any aspect of such Grantor’s present business operations infringes any
patent or copyright of any other Person or such Grantor has misappropriated any Trade Secret or proprietary information which, either individually or in the aggregate, has, or would reasonably be expected to have, a Material Adverse Effect. Each
Grantor hereby grants to the Collateral Agent an absolute power of attorney to sign, solely upon the occurrence and during the continuance of any Event of Default, any document which may be required by the United States Patent and Trademark Office
or the United States Copyright Office in order to effect an absolute assignment of all right, title and interest in each Patent listed in Annex J or Copyright listed in Annex K, or any other issued or applied-for United States patent or registered
or applied-for United States copyright hereinafter owned by such Grantor, and to record the same. 
 5.2 Licenses and
Assignments. Except as otherwise permitted by the Secured Debt Agreements, each Grantor hereby agrees not to divest itself of any right under any material Patent or material Copyright absent prior written approval of the Collateral Agent.

 5.3 Infringements. Each Grantor agrees, promptly upon learning thereof, to furnish the Collateral Agent in writing
with all pertinent information available to such Grantor with respect to any infringement, contributing infringement or active inducement to infringe or other violation of such Grantor’s rights in any Patent or Copyright or to any claim that
the practice of any Patent or use of any Copyright by such Grantor violates any intellectual property right of a third party, or with respect to any misappropriation of any Trade Secret Right by such Grantor or any claim that practice of any Trade
Secret Right by such Grantor violates any intellectual property right of a third party, in each case, in any manner which, either individually or in the aggregate, has, or would reasonably be expected to have, a Material Adverse Effect. Each Grantor
further agrees, absent direction of the Collateral Agent to the contrary, to diligently prosecute, in accordance with its reasonable business judgment, any Person infringing any Patent owned by it or Copyright or any Person misappropriating any
Trade Secret Right, in each case to the extent that such infringement or misappropriation, either individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. 

 

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 5.4 Maintenance of Patents or Copyrights. At its own expense, each Grantor shall make
timely payment of all post-issuance fees required to maintain in force its rights under each issued Patent or registered Copyright, absent prior written consent of the Collateral Agent (other than any such Patents or Copyrights that are no longer
used or are deemed by such Grantor in its reasonable business judgment to no longer be useful in its business or operations). 

5.5 Prosecution of Patent or Copyright Applications. At its own expense, each Grantor shall diligently prosecute all material
applications for (i) United States Patents listed in Annex J hereto and (ii) Copyrights listed on Annex K hereto, in each case for such Grantor and shall not abandon any such application prior to exhaustion of all administrative and
judicial remedies (other than applications that are deemed by such Grantor in its reasonable business judgment to no longer be necessary in the conduct of the Grantor’s business), absent written consent of the Collateral Agent not to be
unreasonably withheld. 
 5.6 Other Patents and Copyrights. Within 30 days of the acquisition or issuance of a United
States Patent, registration of a Copyright, or acquisition of a registered Copyright, or of filing of an application for a United States Patent or Copyright, the relevant Grantor shall deliver to the Collateral Agent a copy of said Copyright or
Patent, or certificate or registration of, or application therefor, as the case may be, with a grant of a security interest as to such Patent or Copyright, as the case may be, to the Collateral Agent and at the expense of such Grantor, confirming
the grant of a security interest, the form of such grant of a security interest to be substantially in the form of Annex M or N hereto, as appropriate, or in such other form as may be reasonably satisfactory to the Collateral Agent. 

5.7 Remedies. If an Event of Default shall occur and be continuing, the Collateral Agent may, by written notice to the relevant
Grantor, take any or all of the following actions: (i) declare the entire right, title, and interest of such Grantor in each of the Patents, Copyrights and Trade Secret Rights vested in the Collateral Agent for the benefit of the Secured
Creditors, in which event such right, title, and interest shall immediately vest in the Collateral Agent for the benefit of the Secured Creditors, and the Collateral Agent shall be entitled to exercise the power of attorney referred to in
Section 5.1 hereof to execute, cause to be acknowledged and notarized and to record said absolute assignment with the applicable agency; (ii) take and practice or sell the Patents, Copyrights and Trade Secrets, in each case, owned by such
Grantor, and exercise any other rights vested in the Patents, Copyrights and Trade Secrets pursuant to Section 5.7(i) above; and (iii) direct such Grantor to refrain, in which event such Grantor shall refrain, from practicing the Patents
and using the Copyrights and the Trade Secrets directly or indirectly, and such Grantor shall execute such further documents as the Collateral Agent may reasonably request further to confirm this and to transfer ownership of the Patents, Copyrights
and Trade Secrets, in each case owned by it, to the Collateral Agent for the benefit of the Secured Creditors. 
  

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 ARTICLE VI 

PROVISIONS CONCERNING ALL COLLATERAL 

6.1 Protection of Collateral Agent’s Security. Except as otherwise permitted by the Secured Debt Agreements, each Grantor
will do nothing to impair the rights of the Collateral Agent in the Collateral. Each Grantor or an affiliate on behalf of such Grantor will at all times maintain insurance, at such Grantor’s own expense to the extent and in the manner provided
in the Secured Debt Agreements. If any Event of Default shall have occurred and be continuing, the Collateral Agent shall, at the time any proceeds of such insurance are distributed to the Secured Creditors, apply such proceeds in accordance with
Section 7.4 hereof. Each Grantor assumes all liability and responsibility in connection with the Collateral acquired by it and the liability of such Grantor to pay the Obligations shall in no way be affected or diminished by reason of the fact
that such Collateral may be lost, destroyed, stolen, damaged or for any reason whatsoever unavailable to such Grantor. 
 6.2
Warehouse Receipts Non-Negotiable. To the extent practicable, each Grantor agrees that if any warehouse receipt or receipt in the nature of a warehouse receipt is issued with respect to any of its Inventory, such Grantor shall request that
such warehouse receipt or receipt in the nature thereof shall not be “negotiable” (as such term is used in Section 7-104 of the Uniform Commercial Code as in effect in any relevant jurisdiction or under other relevant law).

 6.3 Additional Information. Each Grantor will, at its own expense, from time to time upon the reasonable request of
the Collateral Agent, promptly furnish to the Collateral Agent such information with respect to the Collateral (including the identity of the Collateral or such components thereof as may have been reasonably requested by the Collateral Agent, the
value and location of such Collateral, etc.) as may be requested by the Collateral Agent. Without limiting the forgoing, each Grantor agrees that it shall promptly furnish to the Collateral Agent such updated Annexes hereto as may from time to time
be reasonably requested by the Collateral Agent. 
 6.4 Further Actions. Each Grantor will, at its own expense and upon
the reasonable request of the Collateral Agent, make, execute, endorse, acknowledge, file and/or deliver to the Collateral Agent from time to time such lists, descriptions and designations of its Collateral, warehouse receipts, receipts in the
nature of warehouse receipts, bills of lading, documents of title, vouchers, invoices, schedules, confirmatory assignments, conveyances, financing statements, transfer endorsements, certificates, reports and other assurances or instruments and take
such further steps relating to the Collateral and other property or rights covered by the security interest hereby granted, which the Collateral Agent deems reasonably appropriate or advisable to perfect, preserve or protect its security interest in
the Collateral at least to the extent described in Section 2.1. 
 6.5 Financing Statements. Each Grantor agrees to
deliver to the Collateral Agent such financing statements, in form reasonably acceptable to the Collateral Agent, as the Collateral Agent may from time to time reasonably request to establish and maintain a valid, enforceable, perfected security
interest in the Collateral as provided herein and for the purpose of obtaining and preserving the full benefits of the other rights and security contemplated hereby at least to the extent described in Section 2.1. Each Grantor will pay any
applicable filing fees, recordation taxes and related expenses relating to its Collateral. Each Grantor hereby authorizes the Collateral Agent to file any such financing statements without the signature of such Grantor where permitted by law (and
such authorization includes describing the Collateral as “all assets and all personal property whether now owned or hereafter acquired” of such Grantor). 

 

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 ARTICLE VII 

REMEDIES UPON OCCURRENCE OF AN EVENT OF DEFAULT 

7.1 Remedies; Obtaining the Collateral Upon Default. Each Grantor agrees that, if any Event of Default shall have occurred and be
continuing, then and in every such case, the Collateral Agent, in addition to any rights now or hereafter existing under applicable law and under the other provisions of this Agreement, shall have all rights as a secured creditor under any UCC, and
such additional rights and remedies to which a secured creditor is entitled under the laws in effect in all relevant jurisdictions and may: 

(i) personally, or by agents or attorneys, immediately take possession of the Collateral or any part thereof, from such
Grantor or any other Person who then has possession of any part thereof with or without notice or process of law, and for that purpose may enter upon such Grantor’s premises where any of the Collateral is located and remove the same and use in
connection with such removal any and all services, supplies, aids and other facilities of such Grantor; 
 (ii)
instruct the obligor or obligors on any agreement, instrument or other obligation (including, without limitation, the Accounts and the Contracts) constituting the Collateral to make any payment required by the terms of such agreement, instrument or
other obligation directly to the Collateral Agent and may exercise any and all remedies of such Grantor in respect of such Collateral; 

(iii) instruct all banks which have entered into a control agreement with the Collateral Agent to transfer all monies,
securities and instruments held by such depositary bank to the Cash Collateral Account; it being understood and agreed that unless an Event of Default has occurred and is continuing, the Collateral Agent shall not deliver to such banks a Notice of
Exclusive Control under, and as defined in, the respective “control agreement” relating thereto; 

(iv) sell, assign or otherwise liquidate any or all of the Collateral or any part thereof in accordance with
Section 7.2 hereof, or direct such Grantor to sell, assign or otherwise liquidate any or all of the Collateral or any part thereof, and, in each case, take possession of the proceeds of any such sale or liquidation; 

(v) take possession of the Collateral or any part thereof, by directing such Grantor in writing to deliver the same to the
Collateral Agent at any reasonable place or places designated by the Collateral Agent, in which event such Grantor shall at its own expense: 

(x) forthwith cause the same to be moved to the place or places so designated by the Collateral Agent and there delivered
to the Collateral Agent; 
  

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 (y) store and keep any Collateral so delivered to the Collateral Agent at
such place or places pending further action by the Collateral Agent as provided in Section 7.2 hereof; and 

(z) while the Collateral shall be so stored and kept, provide such security and maintenance services as shall be
reasonably necessary to protect the same and to preserve and maintain it in good condition; 
 (vi) license or
sublicense, whether on an exclusive or nonexclusive basis, any Marks (subject to reasonable quality control), Domain Names, Patents or Copyrights included in the Collateral for such term and on such conditions and in such manner as the Collateral
Agent shall in its sole judgment determine; 
 (vii) apply any monies constituting Collateral or proceeds thereof
in accordance with the provisions of Section 7.4; and 
 (viii) take any other action as specified in
clauses (1) through (5), inclusive, of Section 9-607 of the UCC; 
 it being understood that each Grantor’s obligation so to
deliver the Collateral is of the essence of this Agreement and that, accordingly, upon application to a court of equity having jurisdiction, the Collateral Agent shall be entitled to a decree requiring specific performance by such Grantor of said
obligation. By accepting the benefits of this Agreement and each other Security Document, the Secured Creditors expressly acknowledge and agree that this Agreement and each other Security Document may be enforced only by the action of the Collateral
Agent acting upon the instructions of the Required Secured Creditors and that no other Secured Creditor shall have any right individually to seek to enforce or to enforce this Agreement or to realize upon the security to be granted hereby, it being
understood and agreed that such rights and remedies may be exercised by the Collateral Agent or the holders of at least a majority of the outstanding Other Obligations, as the case may be, for the benefit of the Secured Creditors upon the terms of
this Agreement and the other Security Documents. 
 7.2 Remedies; Disposition of the Collateral. To the extent permitted
by applicable law, if any Event of Default shall have occurred and be continuing, then any Collateral repossessed by the Collateral Agent under or pursuant to Section 7.1 hereof and any other Collateral whether or not so repossessed by the
Collateral Agent, may be sold, assigned, leased or otherwise disposed of under one or more contracts or as an entirety, and without the necessity of gathering at the place of sale the property to be sold, and in general in such manner, at such time
or times, at such place or places and on such terms as the Collateral Agent may, in compliance with any mandatory requirements of applicable law, determine to be commercially reasonable. Any of the Collateral may be sold, leased or otherwise
disposed of, in the condition in which the same existed when taken by the Collateral Agent or after any overhaul or repair at the expense of the relevant Grantor which the Collateral Agent shall determine to be commercially reasonable. Any such
sale, lease or other disposition may be effected by means of a public disposition or private disposition, effected in accordance with the applicable requirements (in each case if and to the extent applicable) of Sections 9-610 through 9-613 of the
UCC and/or such other mandatory requirements of applicable law as may apply to the respective disposition. The Collateral Agent may, without notice or publication, adjourn any public or private disposition or cause the same to be adjourned from time
to time by announcement at the time and place fixed for the disposition, and such disposition may be made at any time or place to which the disposition may be so adjourned. To the extent permitted by any such requirement of law, the Collateral Agent
may bid for and become the purchaser (and may pay all or any portion of the purchase price by crediting Obligations against the purchase price) of the Collateral or any item thereof, offered for disposition in accordance with this Section 7.2
without accountability to the relevant Grantor. Each Grantor agrees to do or cause to be done all such other acts and things as may be reasonably necessary to make such disposition or dispositions of all or any portion of the Collateral valid and
binding and in compliance with any and all applicable laws, regulations, orders, writs, injunctions, decrees or awards of any and all courts, arbitrators or governmental instrumentalities, domestic or foreign, having jurisdiction over any such sale
or sales, all at such Grantor’s expense. 
  

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 7.3 Waiver of Claims. Except as otherwise provided in this Agreement, EACH GRANTOR
HEREBY WAIVES, TO THE EXTENT PERMITTED BY APPLICABLE LAW, NOTICE AND JUDICIAL HEARING IN CONNECTION WITH THE COLLATERAL AGENT’S TAKING POSSESSION OR THE COLLATERAL AGENT’S DISPOSITION OF ANY OF THE COLLATERAL, INCLUDING, WITHOUT
LIMITATION, ANY AND ALL PRIOR NOTICE AND HEARING FOR ANY PREJUDGMENT REMEDY OR REMEDIES, and each Grantor hereby further waives, to the extent permitted by law: 

(a) all damages occasioned by such taking of possession or any such disposition except any damages which are the direct result of the
Collateral Agent’s gross negligence or willful misconduct (as determined by a court of competent jurisdiction in a final and non-appealable decision); 

(b) all other requirements as to the time, place and terms of sale or other requirements with respect to the enforcement of the
Collateral Agent’s rights hereunder; and 
 (c) all rights of redemption, appraisement, valuation, stay, extension or
moratorium now or hereafter in force under any applicable law in order to prevent or delay the enforcement of this Agreement or the absolute sale of the Collateral or any portion thereof, and each Grantor, for itself and all who may claim under it,
insofar as it or they now or hereafter lawfully may, hereby waives the benefit of all such laws. 
 Any sale of, or the grant of options to
purchase, or any other realization upon, any Collateral shall operate to divest all right, title, interest, claim and demand, either at law or in equity, of the relevant Grantor therein and thereto, and shall be a perpetual bar both at law and in
equity against such Grantor and against any and all Persons claiming or attempting to claim the Collateral so sold, optioned or realized upon, or any part thereof, from, through and under such Grantor. 

 

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 7.4 Application of Proceeds. (a) All moneys collected by the Collateral Agent
(or, to the extent the Pledge Agreement or any other Security Document requires proceeds of collateral under such other Security Document to be applied in accordance with the provisions of this Agreement, the Pledgee under, and as defined in, the
Pledge Agreement, or collateral agent under such other Security Document) upon any sale or other disposition of the Collateral (or the collateral under the relevant Security Document), together with all other moneys received by the Collateral Agent
hereunder (or under the relevant Security Document), in each case, as a result of the exercise of remedies by the Collateral Agent after the occurrence and during the continuance of an Event of Default, shall be applied as follows: 

(i) first, to the payment of all amounts owing the Collateral Agent of the type described in clauses (iii),
(iv) and (v) of the definition of “Obligations”; 
 (ii) second, to the extent
proceeds remain after the application pursuant to the preceding clause (i), to the payment of all amounts owing to any Agent of the type described in clauses (v) and (vi) of the definition of “Obligations”; 

(iii) third, but subject to the provisions of the following clauses (f) and (g) of this Section 7.4,
to the extent proceeds remain after the application pursuant to the preceding clauses (i) and (ii), an amount equal to the outstanding Primary U.S. Borrower Obligations shall be paid to the Secured Creditors as provided in Section 7.4(d)
hereof, with each Secured Creditor receiving an amount equal to its outstanding Primary U.S. Borrower Obligations or, if the proceeds are insufficient to pay in full all such Primary U.S. Borrower Obligations, its Pro Rata Share of the amount
remaining to be distributed; 
 (iv) fourth, but subject to the provisions of the following clauses
(f) and (g) of this Section 7.4, to the extent proceeds remain after the application pursuant to the preceding clauses (i) through (iii), an amount equal to the outstanding Primary Canadian Borrower Obligations shall be paid to
the Secured Creditors as provided in Section 7.4(d) hereof, with each Secured Creditor receiving an amount equal to its outstanding Primary Canadian Borrower Obligations or, if the proceeds are insufficient to pay in full all such Primary
Canadian Borrower Obligations, its Pro Rata Share of the amount remaining to be distributed; 
 (v) fifth,
but subject to the provisions of clauses (f) and (g) of this Section 7.4, to the extent proceeds remain after the application pursuant to the preceding clauses (i) through (iv), inclusive, an amount equal to the outstanding
Secondary U.S. Borrower Obligations shall be paid to the Secured Creditors as provided in Section 7.4(d) hereof, with each Secured Creditor receiving an amount equal to its outstanding Secondary U.S. Borrower Obligations or, if the proceeds are
insufficient to pay in full all such Secondary U.S. Borrower Obligations, its Pro Rata Share of the amount remaining to be distributed; 

(vi) sixth, but subject to the provisions of clauses (f) and (g) of this Section 7.4, to the extent
proceeds remain after the application pursuant to preceding clauses (i) through (v), inclusive, an amount equal to the outstanding Secondary Canadian Borrower Obligations shall be paid to the Secured Creditors as provided in Section 7.4(d)
hereof, with each Secured Creditor receiving an amount equal to its outstanding Secondary Canadian Borrower Obligations or, if the proceeds are insufficient to pay in full all such Secondary Canadian Borrower Obligations, its Pro Rata Share of the
amount remaining to be distributed; 
  

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 (vii) seventh, but subject to the provisions of clauses (f) and
(g) of this Section 7.4, to the extent proceeds remain after the application pursuant to preceding clauses (i) through (vi), inclusive, ratably to any then remaining unpaid Obligations; and 

(viii) eighth, to the extent proceeds remain after the application pursuant to the preceding clauses
(i) through (vii), inclusive, and following the termination of this Agreement pursuant to Section 10.8(a) hereof, to the relevant Grantor or to whomever may be lawfully entitled to receive such surplus. 

(b) For purposes of this Agreement, (i) “Pro Rata Share” shall mean, when calculating a Secured Creditor’s
portion of any distribution or amount, that amount (expressed as a percentage) equal to a fraction the numerator of which is the then unpaid amount of such Secured Creditor’s Primary U.S. Borrower Obligations, Primary Canadian Borrower
Obligations, Secondary U.S. Borrower Obligations or Secondary Canadian Borrower Obligations, as the case may be, and the denominator of which is the then outstanding amount of all Primary U.S. Borrower Obligations, Primary Canadian Borrower
Obligations, Secondary U.S. Borrower Obligations or Secondary Canadian Borrower Obligations, as the case may be, (ii) “Primary Obligations” shall mean (x) in the case of the Credit Document Obligations, all unpaid
principal (or, Face Amount, as applicable) of, premium, if any, fees and interest on, all Loans, all Unpaid Drawings, the Stated Amount of all outstanding Letters of Credit and all Fees and (y) in the case of the Other Obligations, all amounts
due under each Interest Rate Protection Agreement and Other Hedging Agreement with an Other Creditor (other than indemnities, fees (including, without limitation, attorneys’ fees) and similar obligations and liabilities),
(iii) “Secondary Obligations” shall mean all Obligations other than Primary Obligations, (iv) “Primary U.S. Borrower Obligations” shall mean all Primary Obligations which are also U.S. Borrower
Obligations, (v) “Secondary U.S. Borrower Obligations” shall mean all Secondary Obligations which are also U.S. Borrower Obligations, (vi) “Primary Canadian Borrower Obligations” shall mean all Primary
Obligations which are also Canadian Borrower Obligations and (vii) “Canadian Borrower Secondary Obligations” shall mean all Secondary Obligations which are also Canadian Borrower Secondary Obligations. 

(c) Each of the Secured Creditors, by their acceptance of the benefits hereof and of the other Security Documents, agrees and
acknowledges that if the Lender Creditors receive a distribution on account of undrawn amounts with respect to Letters of Credit issued under the Credit Agreement (which shall only occur after all Loans and Unpaid Drawings constituting Primary U.S.
Borrower Obligations or Primary Canadian Borrower Obligations, as the case may be, have been paid in full), such amounts shall be paid to the Administrative Agent under the Credit Agreement and held by it, for the equal and ratable benefit of the
respective Lender Creditors, as cash security for the repayment of Obligations owing to the Lender Creditors as such. If any amounts are held as cash security pursuant to the immediately preceding sentence, then upon the termination of all
outstanding Letters of Credit under the Credit Agreement constituting Primary U.S. Borrower Obligations or Primary Canadian Borrower Obligations, as the case may be, and after the application of all such cash security to the repayment of all
Obligations owing to the respective Lender Creditors after giving effect to the termination of all such Letters of Credit, if there remains any excess cash, such excess cash shall be returned by the Administrative Agent to the Collateral Agent for
distribution in accordance with Section 7.4(a) hereof. 
  

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 (d) All payments required to be made hereunder shall be made (x) if to the Lender
Creditors, to the Administrative Agent for the account of the Lender Creditors and (y) if to the Other Creditors, to the trustee, paying agent or other similar representative (each, a “Representative”) for the Other Creditors
or, in the absence of such a Representative, directly to the Other Creditors. 
 (e) For purposes of applying payments received
in accordance with this Section 7.4, the Collateral Agent shall be entitled to rely upon (i) the Administrative Agent and (ii) the Representative or, in the absence of such a Representative, upon the Other Creditors for a
determination (which the Administrative Agent, each Representative and the Other Creditors agree (or shall agree) to provide upon request of the Collateral Agent) of the outstanding Primary U.S. Borrower Obligations, Primary Canadian Borrower
Obligations, Secondary Canadian Borrower Obligations and Secondary Canadian Borrower Obligations owed to the Lender Creditors or the Other Creditors, as the case may be. Unless it has received written notice from a Lender Creditor or an Other
Creditor to the contrary, the Administrative Agent and each Representative, in furnishing information pursuant to the preceding sentence, and the Collateral Agent, in acting hereunder, shall be entitled to assume that no Secondary Obligations are
outstanding. Unless it has written notice from an Other Creditor to the contrary, the Collateral Agent, in acting hereunder, shall be entitled to assume that no Interest Rate Protection Agreements or Other Hedging Agreements are in existence.

 (f) Notwithstanding anything to the contrary contained above, to the extent monies or proceeds to be applied pursuant to this
Section 7.4 consist of proceeds received from a sale or other disposition of Excess Exempted Foreign Entity Voting Stock, such proceeds will be applied as otherwise required above in this Section 7.4, but for this purpose treating the
outstanding Primary Obligations and Secondary Obligations as only those obligations secured by the Excess Exempted Foreign Entity Voting Stock in accordance with the provisions of clause (x) to the proviso appearing at the end of
Section 3.1 of the Pledge Agreement. In determining whether any Excess Exempted Foreign Entity Voting Stock has been sold or otherwise disposed of, the Collateral Agent shall treat any sale or disposition of Voting Stock of any Exempted Foreign
Entity as first being a sale of Voting Stock which is not Excess Exempted Foreign Entity Voting Stock until such time as the stock sold represents 65% of the total combined voting power of all classes of Voting Stock of the respective Exempted
Foreign Entity and, after such threshold has been met, any further sales of Voting Stock of the respective Exempted Foreign Entity shall be treated as sales of Excess Exempted Foreign Entity Voting Stock. 

(g) Notwithstanding anything to the contrary contained above, to the extent monies or proceeds to be applied pursuant to this
Section 7.4 consist of proceeds received under any Foreign Security Document, such proceeds will be applied as otherwise required above in this Section 7.4, but for this purpose (x) reversing clauses (iii) and (iv) above
(thereby treating clause (iv) as if it were the third priority of distribution, and treating clause (iii) as if it were the fourth priority of distribution) and reversing clauses (v) and (vi) above (thereby treating clause
(vi) above as if it were the fifth priority of distribution and treating clause (v) above as if it were the sixth priority distribution), in each case mutatis mutandis and with any necessary reference changes (to clauses, etc.) and
(y) treating the outstanding Primary Obligations and Secondary Obligations as only those obligations secured by the respective Foreign Security Document. 
  

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 (h) It is understood that the Grantors shall remain jointly and severally liable to the
extent of any deficiency between the amount of the proceeds of the Collateral and the aggregate amount of the Obligations. 

7.5 Remedies Cumulative. Each and every right, power and remedy hereby specifically given to the Collateral Agent shall be in
addition to every other right, power and remedy specifically given to the Collateral Agent under this Agreement, the other Secured Debt Agreements or now or hereafter existing at law, in equity or by statute and each and every right, power and
remedy whether specifically herein given or otherwise existing may be exercised from time to time or simultaneously and as often and in such order as may be deemed expedient by the Collateral Agent. All such rights, powers and remedies shall be
cumulative and the exercise or the beginning of the exercise of one shall not be deemed a waiver of the right to exercise any other or others. No delay or omission of the Collateral Agent in the exercise of any such right, power or remedy and no
renewal or extension of any of the Obligations shall impair any such right, power or remedy or shall be construed to be a waiver of any Default or Event of Default or an acquiescence thereof. No notice to or demand on any Grantor in any case shall
entitle it to any other or further notice or demand in similar or other circumstances or constitute a waiver of any of the rights of the Collateral Agent to any other or further action in any circumstances without notice or demand. In the event that
the Collateral Agent shall bring any suit to enforce any of its rights hereunder and shall be entitled to judgment, then in such suit the Collateral Agent may recover reasonable expenses, including reasonable attorneys’ fees, and the amounts
thereof shall be included in such judgment. 
 7.6 Discontinuance of Proceedings. In case the Collateral Agent shall have
instituted any proceeding to enforce any right, power or remedy under this Agreement by foreclosure, sale, entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to
the Collateral Agent, then and in every such case the relevant Grantor, the Collateral Agent and each holder of any of the Obligations shall be restored to their former positions and rights hereunder with respect to the Collateral subject to the
security interest created under this Agreement, and all rights, remedies and powers of the Collateral Agent shall continue as if no such proceeding had been instituted. 

ARTICLE VIII 

INDEMNITY 
 8.1
Indemnity. (a) Each Grantor jointly and severally agrees to indemnify, reimburse and hold harmless the Collateral Agent, each other Secured Creditor and their respective successors, assigns, officers, directors, employees,
representatives, agents, affiliates, trustees and investment advisors (hereinafter in this Section 8.1 referred to individually as “Indemnitee,” and collectively as “Indemnitees”) from and against any and all
liabilities, obligations (including removal and remedial actions), losses, damages, penalties, claims, actions, judgments, suits and any and all costs, expenses or disbursements (including reasonable attorneys’ fees and expenses but excluding
Taxes that are governed exclusively by Sections 2.10, 3.06 and 5.04 of the Credit Agreement) (for the purposes of this Section 8.1 the foregoing are collectively called “Indemnified Liabilities”) of
whatsoever kind and nature imposed on, asserted against or incurred by any of the Indemnitees in any way relating to or arising out of this Agreement, any other Secured Debt Agreement or any other document executed in connection herewith or
therewith or in any other way connected with the administration of the transactions contemplated hereby or thereby or the enforcement of any of the terms of, or the preservation of any rights under any thereof, or in any way relating to or arising
out of the manufacture, ownership, ordering, purchase, delivery, control, acceptance, lease, financing, possession, operation, condition, sale, return or other disposition, or use of the Collateral (including, without limitation, latent or other
defects, whether or not discoverable), the violation of the laws of any country, state or other governmental body or unit, any tort (including, without limitation, claims arising or imposed under the doctrine of strict liability, or for or on
account of injury to or the death of any Person (including any Indemnitee), or property damage), or contract claim; provided that no Indemnitee shall be indemnified pursuant to this Section 8.1(a) for Indemnified Liabilities to the
extent caused by the gross negligence or willful misconduct of respective Indemnitee, any Affiliate of such Indemnitee, or any of their respective directors, officers, employees, representatives, agents, Affiliates, trustees or investment advisors
(as determined by a court of competent jurisdiction in a final and non-appealable decision). Each Grantor agrees that upon written notice by any Indemnitee of the assertion of such Indemnified Liabilities, the relevant Grantor shall assume full
responsibility for the defense thereof. Each Indemnitee agrees to use its best efforts to promptly notify the relevant Grantor of any such assertion of which such Indemnitee has knowledge. 

 

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 (b) Without limiting the application of Section 8.1(a) hereof, each Grantor agrees,
jointly and severally, to pay or reimburse the Collateral Agent for any and all reasonable documented out-of-pocket fees, costs and expenses of whatever kind or nature incurred in connection with the creation, preservation or protection of the
Collateral Agent’s Liens on, and security interest in, the Collateral, including, without limitation, all fees and taxes in connection with the recording or filing of instruments and documents in public offices, payment or discharge of any
taxes or Liens upon or in respect of the Collateral, premiums for insurance with respect to the Collateral and all other fees, costs and expenses in connection with protecting, maintaining or preserving the Collateral and the Collateral Agent’s
interest therein, whether through judicial proceedings or otherwise, or in defending or prosecuting any actions, suits or proceedings arising out of or relating to the Collateral. 

(c) Without limiting the application of Section 8.1(a) or (b) hereof, each Grantor agrees, jointly and severally, to pay,
indemnify and hold each Indemnitee harmless from and against any loss, costs, damages and expenses which such Indemnitee may suffer, expend or incur in consequence of or growing out of any misrepresentation by any Grantor in this Agreement, any
other Secured Debt Agreement or in any writing contemplated by or made or delivered pursuant to or in connection with this Agreement or any other Secured Debt Agreement. 

(d) If and to the extent that the obligations of any Grantor under this Section 8.1 are unenforceable for any reason, such Grantor
hereby agrees to make the maximum contribution to the payment and satisfaction of such obligations which is permissible under applicable law. 
  

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 8.2 Indemnity Obligations Secured by Collateral; Survival. Any amounts paid by any
Indemnitee as to which such Indemnitee has the right to reimbursement shall constitute Obligations secured by the Collateral. The indemnity obligations of each Grantor contained in this Article VIII shall continue in full force and effect
notwithstanding the full payment of all of the other Obligations and notwithstanding the full payment of all the Notes issued, and Loans made, under the Credit Agreement, the termination of all Letters of Credit issued under the Credit Agreement,
the termination of all Interest Rate Protection Agreements and Other Hedging Agreements entered into with the Other Creditors and the payment of all other Obligations and notwithstanding the discharge thereof and the occurrence of the Termination
Date. 
 ARTICLE IX 

DEFINITIONS 

The following terms shall have the meanings herein specified. Such definitions shall be equally applicable to the singular and plural
forms of the terms defined. 
 “Account” shall mean any “account” as such term is defined in the
Uniform Commercial Code as in effect on the date hereof in the State of New York. 
 “Administrative Agent”
shall have the meaning provided in the recitals of this Agreement. 
 “Agreement” shall mean this Security
Agreement as the same may be amended, modified, restated and/or supplemented from time to time in accordance with its terms. 

“As-Extracted Collateral” shall mean “as-extracted collateral” as such term is defined in the Uniform
Commercial Code as in effect on the date hereof in the State of New York. 
 “Grantor” shall have the meaning
provided in the first paragraph of this Agreement. 
 “Borrower” and “Borrowers” shall have
the meaning provided in the recitals of this Agreement. 
 “Canadian Borrower” shall have the meaning provided
in the recitals of this Agreement. 
 “Canadian Borrower Obligations” shall mean all Obligations of the
Canadian Borrower and any guarantees thereof (including by U.S. Credit Parties) pursuant to the Guaranties or pursuant to any other Credit Document. 
  

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 “Cash Collateral Account” shall mean a non-interest bearing cash collateral
account maintained with, and in the sole dominion and control of, the Collateral Agent for the benefit of the Secured Creditors. 

“Chattel Paper” shall mean “chattel paper” as such term is defined in the Uniform Commercial Code as in effect
on the date hereof in the State of New York. Without limiting the foregoing, the term “Chattel Paper” shall in any event include all Tangible Chattel Paper and all Electronic Chattel Paper. 

“Class” shall have the meaning provided in Section 10.2 of this Agreement. 

“Collateral” shall have the meaning provided in Section 1.1(a) of this Agreement. 

“Collateral Agent” shall have the meaning provided in the first paragraph of this Agreement. 

“Commercial Tort Claims” shall mean “commercial tort claims” as such term is defined in the Uniform Commercial
Code as in effect on the date hereof in the State of New York. 
 “Contract Rights” shall mean all rights
of any Grantor under each Contract, including, without limitation, (i) any and all rights to receive and demand payments under any or all Contracts, (ii) any and all rights to receive and compel performance under any or all Contracts and
(iii) any and all other rights, interests and claims now existing or in the future arising in connection with any or all Contracts. 

“Contracts” shall mean all contracts between any Grantor and one or more additional parties (including, without
limitation, any Interest Rate Protection Agreements, Other Hedging Agreements, licensing agreements and any partnership agreements, joint venture agreements and limited liability company agreements, and settlement agreements). 

“Copyrights” shall mean any United States or foreign copyright now or hereafter owned by any Grantor, including any
registrations of any copyrights, in the United States Copyright Office or any foreign equivalent office, as well as any application for a copyright registration now or hereafter made with the United States Copyright Office or any foreign equivalent
office by any Grantor. 
 “Credit Agreement” shall have the meaning provided in the recitals of this Agreement.

 “Credit Document Obligations” shall have the meaning provided in the definition of “Obligations”
in this Article IX. 
 “Deposit Accounts” shall mean all “deposit accounts” as such term is defined
in the Uniform Commercial Code as in effect on the date hereof in the State of New York. 
 “Documents” shall
mean “documents” as such term is defined in the Uniform Commercial Code as in effect on the date hereof in the State of New York. 
  

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 “Domain Names” shall mean all Internet domain names and associated URL
addresses in or to which any Grantor now or hereafter has any right, title or interest. 
 “Electronic Chattel
Paper” shall mean “electronic chattel paper” as such term is defined in the Uniform Commercial Code as in effect on the date hereof in the State of New York. 

“Equipment” shall mean any “equipment” as such term is defined in the Uniform Commercial Code as in effect on
the date hereof in the State of New York, and in any event, shall include, but shall not be limited to, all machinery, equipment, furnishings, fixtures and vehicles now or hereafter owned by any Grantor and any and all additions, substitutions and
replacements of any of the foregoing and all accessions thereto, wherever located, together with all attachments, components, parts, equipment and accessories installed thereon or affixed thereto. 

“Event of Default” shall mean (x) at any time prior to the time at which all Credit Document Obligations have been
paid in full (other than unasserted contingent indemnification obligations) and all Commitments and Letters of Credit under the Credit Agreement have been terminated, any Event of Default under, and as defined in, the Credit Agreement and
(y) at any time thereafter, any payment default on any of the Obligations after the expiration of any applicable grace period. 

“Excess Exempted Foreign Entity Voting Stock” shall have the meaning provided in the Pledge Agreement. 

“Excluded Deposit Accounts” shall mean (1) any payroll account, (2) any withholding tax, benefits, escrow,
trust, customs or any other fiduciary account, (3) any zero balance Deposit Account, provided the amount on deposit therein does not exceed the amount necessary to cover outstanding checks, amounts necessary to maintain minimum deposit
requirements and amounts necessary to pay the depositary institution’s fees and expenses, and (4) each other Deposit Account which is (i) designated by the U.S. Borrower in writing to the Collateral Agent as an “Excluded Deposit
Account” and (ii) approved in writing as an “Excluded Deposit Account” by the Collateral Agent in its sole discretion (it being understood and agreed that it is the intention of the parties hereto that the amounts on deposit in
such Deposit Accounts at the end of each Business Day shall not exceed $500,000 in the aggregate (as calculated in the manner as set forth in Section 3.9(c), although (subject to Section 3.9(c)) any departure from this intention shall not
in and of itself constitute a breach of this Agreement). 
 “Exempted Foreign Entity” shall have the meaning
provided in the Pledge Agreement. 
 “General Intangibles” shall mean “general intangibles” as such
term is defined in the Uniform Commercial Code as in effect on the date hereof in the State of New York. 

“Goods” shall mean “goods” as such term is defined in the Uniform Commercial Code as in effect on the date
hereof in the State of New York. 
 “Holdings” shall have the meaning provided in the recitals hereto.

  

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 “Indemnitee” shall have the meaning provided in Section 8.1(a) of this
Agreement. 
 “Instrument” shall mean “instruments” as such term is defined in the Uniform Commercial
Code as in effect on the date hereof in the State of New York. 
 “Inventory” shall mean merchandise, inventory
and goods, and all additions, substitutions and replacements thereof and all accessions thereto, wherever located, together with all goods, supplies, incidentals, packaging materials, labels, materials and any other items used or usable in
manufacturing, processing, packaging or shipping same, in all stages of production from raw materials through work in process to finished goods, and all products and proceeds of whatever sort and wherever located any portion thereof which may be
returned, rejected, reclaimed or repossessed by the Collateral Agent from any Grantor’s customers, and shall specifically include all “inventory” as such term is defined in the Uniform Commercial Code as in effect on the date hereof
in the State of New York. 
 “Investment Property” shall mean “investment property” as such term is
defined in the Uniform Commercial Code as in effect on the date hereof in the State of New York. 
 “Lender
Creditors” shall have the meaning provided in the recitals of this Agreement. 
 “Lenders” shall have
the meaning provided in the recitals of this Agreement. 
 “Letter-of-Credit Rights” shall mean
“letter-of-credit rights” as such term is defined in the Uniform Commercial Code as in effect on the date hereof in the State of New York. 

“Location” of any Grantor, shall mean such Grantor’s “location” as determined pursuant to
Section 9-307 of the UCC. 
 “Marks” shall mean all right, title and interest in and to any trademarks,
service marks and trade names now held or hereafter acquired by any Grantor, including any registration or application for registration of any trademarks and service marks now held or hereafter acquired by any Grantor (except for “intent to
use” applications for trademark or service mark registrations filed pursuant to Section 1(b) of the Lanham Act, 15 U.S.C. § 1051, unless and until an Amendment to Allege Use or a Statement of Use under Sections 1(c) and 1(d) of
said Act has been filed in, and accepted by, the United States Patent and Trademark Office), which are registered or filed in the United States Patent and Trademark Office or the equivalent thereof in any state of the United States or any equivalent
foreign office or agency, as well as any unregistered trademarks and service marks used by a Grantor and any trade dress including logos, designs, fictitious business names and other business identifiers used by any Grantor. 

“Obligations” shall mean and include, as to any Grantor, all of the following: 

(i) the full and prompt payment when due (whether at stated maturity, by acceleration or otherwise) of all obligations,
liabilities and indebtedness (including, without limitation, principal (or, Face Amount, as applicable), premium, interest (including, without limitation, all interest that accrues after the commencement of any case, proceeding or other action
relating to the bankruptcy, insolvency, reorganization or similar proceeding of any Grantor at the rate provided for in the respective documentation, whether or not a claim for post-petition interest is allowed in any such proceeding), reimbursement
obligations under Letters of Credit, fees, costs and indemnities) of such Grantor to the Lender Creditors, whether now existing or hereafter incurred under, arising out of, or in connection with, the Credit Agreement and the other Credit Documents
to which such Grantor is a party (including, without limitation, in the event such Grantor is a Guarantor, all such obligations, liabilities and indebtedness of such Grantor under its Guaranty) and the due performance and compliance by such Grantor
with all of the terms, conditions and agreements contained in the Credit Agreement and in such other Credit Documents (all such obligations, liabilities and indebtedness under this clause (i), except to the extent consisting of obligations or
indebtedness with respect to Interest Rate Protection Agreements or Other Hedging Agreements, being herein collectively called the “Credit Document Obligations”); 

 

 -30- 

 (ii) the full and prompt payment when due (whether at stated maturity, by
acceleration or otherwise) of all obligations, liabilities and indebtedness (including, without limitation, all interest that accrues after the commencement of any case, proceeding or other action relating to the bankruptcy, insolvency,
reorganization or similar proceeding of any Grantor at the rate provided for in the respective documentation, whether or not a claim for post-petition interest is allowed in any such proceeding) owing by such Grantor to the Other Creditors, now
existing or hereafter incurred under, arising out of or in connection with any Interest Rate Protection Agreement or Other Hedging Agreement, whether such Interest Rate Protection Agreement or Other Hedging Agreement is now in existence or
hereinafter arising (including, without limitation, in the case of a Grantor that is a Guarantor, all obligations, liabilities and indebtedness of such Grantor under its Guaranty in respect of the Interest Rate Protection Agreements and Other
Hedging Agreements), and the due performance and compliance by such Grantor with all of the terms, conditions and agreements contained in each such Interest Rate Protection Agreement and Other Hedging Agreement (all such obligations, liabilities and
indebtedness under this clause (ii) being herein collectively called the “Other Obligations”); 

(iii) any and all sums advanced by the Collateral Agent in order to preserve the Collateral or preserve its security
interest in the Collateral; 
 (iv) in the event of any proceeding for the collection or enforcement of any
indebtedness, obligations, or liabilities of such Grantor referred to in clauses (i) and (ii) above, after an Event of Default shall have occurred and be continuing, the reasonable expenses of retaking, holding, preparing for sale or
lease, selling or otherwise disposing of or realizing on the Collateral, or of any exercise by the Collateral Agent of its rights hereunder, together with reasonable attorneys’ fees and court costs; 

(v) all amounts paid by any Indemnitee as to which such Indemnitee has the right to reimbursement under Section 8.1
of this Agreement; and 
  

 -31- 

 (vi) all amounts owing to any Agent pursuant to any of the Credit Documents
in its capacity as such; 
 it being acknowledged and agreed that the “Obligations” shall include extensions of credit of the types
described above, whether outstanding on the date of this Agreement or extended from time to time after the date of this Agreement. 

“Ordinary Course Transferees” shall mean: (i) with respect to Goods only, buyers in the ordinary course of business
and lessees in the ordinary course of business to the extent provided in Section 9-320(a) and 9-321 of the Uniform Commercial Code as in effect from time to time in the relevant jurisdiction, (ii) with respect to General Intangibles only,
licensees in the ordinary course of business to the extent provided in Section 9-321 of the Uniform Commercial Code as in effect from time to time in the relevant jurisdiction and (iii) any other Person who is entitled to take free of the
Lien pursuant to the Uniform Commercial Code as in effect from time to time in the relevant jurisdiction. 
 “Other
Creditors” shall have the meaning provided in the recitals of this Agreement. 
 “Other Obligations”
shall have the meaning provided in the definition of “Obligations” in this Article IX. 
 “Patents”
shall mean any patent in or to which any Grantor now or hereafter has any right, title or interest therein, and any divisions, continuations (including, but not limited to, continuations-in-parts) and improvements thereof, as well as any application
for a patent now or hereafter made by any Grantor. 
 “Permits” shall mean, to the extent permitted to be
assigned by the terms thereof or by applicable law, all licenses, permits, rights, orders, variances, franchises or authorizations of or from any governmental authority or agency. 

“Primary Canadian Borrower Obligations” shall have the meaning provided in Section 7.4(b) of this Agreement.

 “Primary Obligations” shall have the meaning provided in Section 7.4(b) of this Agreement. 

“Primary U.S. Borrower Obligations” shall have the meaning provided in Section 7.4(b) of this Agreement.

 “Pro Rata Share” shall have the meaning provided in Section 7.4(b) of this Agreement. 

“Proceeds” shall mean all “proceeds” as such term is defined in the Uniform Commercial Code as in effect in
the State of New York on the date hereof and, in any event, shall also include, but not be limited to, (i) any and all proceeds of any insurance, indemnity, warranty or guaranty payable to the Collateral Agent or any Grantor from time to time
with respect to any of the Collateral, (ii) any and all payments (in any form whatsoever) made or due and payable to any Grantor from time to time in connection with any requisition, confiscation, condemnation, seizure or forfeiture of all or
any part of the Collateral by any governmental authority (or any person acting under color of governmental authority) and (iii) any and all other amounts from time to time paid or payable under or in connection with any of the Collateral.

  

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 “Registered Organization” shall have the meaning provided in the Uniform
Commercial Code as in effect in the State of New York. 
 “Representative” shall have the meaning provided in
Section 7.4(d) of this Agreement. 
 “Required Secured Creditors” shall mean (i) at any time when any
Credit Document Obligations are outstanding or any Commitments under the Credit Agreement exist, the Required Lenders (or, to the extent provided in Section 13.12 of the Credit Agreement, each of the Lenders) and (ii) at any time after all
of the Credit Document Obligations (other than unasserted contingent indemnification obligations) have been paid in full and all Commitments under the Credit Agreement have been terminated and no further Commitments may be provided thereunder, the
holders of a majority of the Other Obligations. 
 “Secondary Canadian Borrower Obligations” shall have the
meaning provided in Section 7.4(b) of this Agreement. 
 “Secondary Obligations” shall have the meaning
provided in Section 7.4(b) of this Agreement. 
 “Secondary U.S. Borrower Obligations” shall have the
meaning provided in Section 7.4(b) of this Agreement. 
 “Secured Creditors” shall have the meaning
provided in the recitals of this Agreement. 
 “Secured Debt Agreements” shall mean and include this Agreement,
the other Credit Documents and the Interest Rate Protection Agreements and Other Hedging Agreements entered into with an Other Creditor. 

“Software” shall mean “software” as such term is defined in the Uniform Commercial Code as in effect on the
date hereof in the State of New York. 
 “Specified Assets” shall mean the following property and assets of
such Grantor: 
 (i) Equipment constituting Fixtures or Vehicles; 

(ii) Accounts or receivables arising therefrom to the extent that the Uniform Commercial Code as in effect from time to
time in the relevant jurisdiction is not applicable to the creation or perfection of Liens thereon; 
 (iii)
uncertificated securities; 
  

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 (iv) Collateral for which the perfection of Liens thereon requires filings
in or other actions under the laws of jurisdictions outside the United States of America, any State, territory or dependency thereof or the District of Columbia; 

(v) Goods constituting Vehicles or included in Collateral received by any Person for “sale or return” within the
meaning of Section 2-326 of the Uniform Commercial Code of the applicable jurisdiction, to the extent of claims of creditors of such Person; 

(vi) Patents, Marks and Copyrights to the extent that Liens thereon cannot be perfected by the filing of UCC financing
statements under the UCC or by a filing in the United States Patent and Trademark Office or the United States Copyright Office; and 

(v) Proceeds which have not been transferred to or deposited in the Cash Collateral Account (if any) or a Deposit Account
meeting the requirements of Section 3.9 hereof. 
 “Supporting Obligations” shall mean any
“supporting obligation” as such term is defined in the Uniform Commercial Code as in effect on the date hereof in the State of New York, now or hereafter owned by any Grantor, or in which any Grantor has any rights. 

“Tangible Chattel Paper” shall mean “tangible chattel paper” as such term is defined in the Uniform Commercial
Code as in effect on the date hereof in the State of New York. 
 “Termination Date” shall have the
meaning provided in Section 10.8(a) of this Agreement. 
 “Timber-to-be-Cut” shall mean
“timber-to-be-cut” as such term is defined in the Uniform Commercial Code as in effect on the date hereof in the State of New York. 

“Trade Secret Rights” shall mean the rights of a Grantor in any Trade Secret it holds. 

“Trade Secrets” shall mean any secretly held existing engineering or other data, information, production procedures and
other know-how relating to the design, manufacture, assembly, installation, use, operation, marketing, sale and/or servicing of any products or business of a Grantor worldwide whether written or not. 

“UCC” shall mean the Uniform Commercial Code as in effect from time to time in the relevant jurisdiction. 

“U.S. Borrower” shall have the meaning provided in the recitals of this Agreement. 

“U.S. Borrower Obligations” shall mean all Obligations of the U.S. Borrower (but not as a Guarantor of the Canadian
Borrower or any Canadian Subsidiary Guarantor) and any guarantees of such Obligations pursuant to the Guaranties or pursuant to any other Credit Document. 
  

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 “Vehicles” shall mean all cars, trucks, construction and earth moving
equipment covered by a certificate of title law of any state (and where perfection of security interests therein cannot be effected by filings under the UCC). 

“Voting Stock” shall have the meaning provided in the Pledge Agreement. 

ARTICLE X 

MISCELLANEOUS 

10.1 Notices. Except as otherwise specified herein, all notices, requests, demands or other communications to or upon the
respective parties hereto shall be sent or delivered by mail, telegraph, telex, telecopy, cable or courier service and all such notices and communications shall, when mailed, telegraphed, telexed, telecopied, or cabled or sent by courier, be
effective when deposited in the mails, delivered to the telegraph company, cable company or overnight courier, as the case may be, or sent by telex or telecopier, except that notices and communications to the Collateral Agent or any Grantor shall
not be effective until received by the Collateral Agent or such Grantor, as the case may be. All notices and other communications shall be in writing and addressed as follows: 

 

	 	(a)	if to any Grantor, c/o: 

 8607
Roberts Drive, Suite 250 
 Atlanta, GA 30350 

Attention:
[                        ] 

Telephone No.: (770) 645-4800 

Telecopier No.: (770) 645-4810 
  

	 	(b)	if to the Collateral Agent, at: 

Deutsche Bank Trust Company Americas 

60 Wall Street, 2nd Floor 

New York, New York 10005 

Attention: Erin Morrissey 

Telephone No.: (212) 250-1765 

Telecopier No.: (212) 797-5690 

(c) if to any Lender Creditor (other than the Collateral Agent), at such address as such Lender Creditor shall have
specified in the Credit Agreement; 
 (d) if to any Other Creditor, at such address as such Other Creditor shall
have specified in writing to each Grantor and the Collateral Agent; 
 or at such other address or addressed to such other individual as shall
have been furnished in writing by any Person described above to the party required to give notice hereunder. 
  

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 10.2 Waiver; Amendment. Except as provided in Sections 10.8 and 10.12, none of the
terms and conditions of this Agreement may be changed, waived, modified or varied in any manner whatsoever unless in writing duly signed by each Grantor directly affected thereby (it being understood that the addition or release of any Grantor
hereunder shall not constitute a change, waiver, discharge or termination affecting any Grantor other than the Grantor so added or released) and the Collateral Agent (with the written consent of the Required Secured Creditors). 

10.3 Obligations Absolute. To the maximum extent permitted by applicable law, the obligations of each Grantor hereunder shall
remain in full force and effect without regard to, and shall not be impaired by, (a) any bankruptcy, insolvency, reorganization, arrangement, readjustment, composition, liquidation or the like of such Grantor; (b) any exercise or
non-exercise, or any waiver of, any right, remedy, power or privilege under or in respect of this Agreement or any other Secured Debt Agreement; or (c) any amendment to or modification of any Secured Debt Agreement or any security for any of
the Obligations; whether or not such Grantor shall have notice or knowledge of any of the foregoing. 
 10.4 Successors and
Assigns. This Agreement shall create a continuing security interest in the Collateral and shall (i) remain in full force and effect, subject to release and/or termination as set forth in Section 10.8, (ii) be binding upon each
Grantor, its successors and assigns; provided, however, that no Grantor shall assign any of its rights or obligations hereunder without the prior written consent of the Collateral Agent (with the prior written consent of the Required
Secured Creditors), and (iii) inure, together with the rights and remedies of the Collateral Agent hereunder, to the benefit of the Collateral Agent, the other Secured Creditors and their respective successors, transferees and permitted
assigns. All agreements, statements, representations and warranties made by each Grantor herein or in any certificate or other instrument delivered by such Grantor or on its behalf under this Agreement shall be considered to have been relied upon by
the Secured Creditors and shall survive the execution and delivery of this Agreement and the other Secured Debt Agreements regardless of any investigation made by the Secured Creditors or on their behalf. 

10.5 Headings Descriptive. The headings of the several sections of this Agreement are inserted for convenience only and shall not
in any way affect the meaning or construction of any provision of this Agreement. 
 10.6 GOVERNING LAW; SUBMISSION TO
JURISDICTION; VENUE; WAIVER OF JURY TRIAL. (a) THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK; PROVIDED, HOWEVER, THAT
THE LAWS OF THE STATE OF DELAWARE SHALL GOVERN IN DETERMINING WHETHER A COMPANY MATERIAL ADVERSE EFFECT HAS OCCURRED. ANY LEGAL ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT (EXCEPT THAT, (X) IN THE CASE OF ANY COLLATERAL
LOCATED IN ANY STATE OTHER THAN NEW YORK, PROCEEDINGS MAY BE BROUGHT BY THE ADMINISTRATIVE AGENT OR COLLATERAL AGENT IN THE STATE IN WHICH THE RESPECTIVE COLLATERAL IS LOCATED OR ANY OTHER RELEVANT JURISDICTION AND (Y) IN THE CASE OF ANY
BANKRUPTCY, INSOLVENCY OR SIMILAR PROCEEDING, WITH RESPECT TO ANY CREDIT PARTY, ACTIONS OR PROCEEDINGS RELATED TO THIS AGREEMENT AND THE OTHER CREDIT DOCUMENTS MAY BE BROUGHT IN SUCH COURT HOLDING SUCH BANKRUPTCY, INSOLVENCY OR SIMILAR PROCEEDING),
OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY
THEREOF, AND BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE EXCLUSIVE JURISDICTION OF THE AFORESAID
COURTS. EACH SUCH PARTY HEREBY FURTHER IRREVOCABLY WAIVES ANY CLAIM THAT ANY SUCH COURTS LACK PERSONAL JURISDICTION OVER IT, AND AGREES NOT TO PLEAD OR CLAIM IN ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR ANY OTHER CREDIT
DOCUMENT BROUGHT IN ANY OF THE AFORESAID COURTS THAT ANY SUCH COURT LACKS PERSONAL JURISDICTION OVER IT. EACH SUCH PARTY FURTHER IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS OUT OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING
BY THE MAILING OF COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO SUCH PARTY, AS THE CASE MAY BE, AT ITS ADDRESS FOR NOTICES AS PROVIDED IN SECTION 10.1 ABOVE, SUCH SERVICE TO BECOME EFFECTIVE 30 DAYS AFTER SUCH MAILING. EACH
SUCH PARTY HEREBY IRREVOCABLY WAIVES ANY OBJECTION TO SUCH SERVICE OF PROCESS AND FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY ACTION OR PROCEEDING COMMENCED HEREUNDER OR UNDER ANY OTHER CREDIT DOCUMENT THAT SUCH SERVICE OF
PROCESS WAS IN ANY WAY INVALID OR INEFFECTIVE. NOTHING HEREIN SHALL AFFECT THE RIGHT OF THE COLLATERAL AGENT OR ANY SECURED CREDITOR TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST
ANY OTHER SUCH PARTY IN ANY OTHER JURISDICTION. 
  

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 (b) EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER
HAVE TO THE LAYING OF VENUE OF ANY OF THE AFORESAID ACTIONS OR PROCEEDINGS ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT BROUGHT IN THE COURTS REFERRED TO IN CLAUSE (a) ABOVE AND HEREBY FURTHER IRREVOCABLY
WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. 

(c) EACH OF THE PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR
COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE OTHER CREDIT DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. 
  

 -37- 

 10.7 Grantor’s Duties. It is expressly agreed, anything herein contained to the
contrary notwithstanding, that each Grantor shall remain liable to perform all of the obligations, if any, assumed by it with respect to the Collateral and the Collateral Agent shall not have any obligations or liabilities with respect to any
Collateral by reason of or arising out of this Agreement, nor shall the Collateral Agent be required or obligated in any manner to perform or fulfill any of the obligations of any Grantor under or with respect to any Collateral. 

10.8 Termination; Release. (a) After the Termination Date, this Agreement shall terminate, all without delivery of any
instrument or performance of any act by any party, and all rights to the Collateral shall revert to the Grantors (provided that all indemnities set forth herein including, without limitation in Section 8.1 hereof, shall survive such
termination) and the Collateral Agent, at the request and expense of the respective Grantor, will promptly execute and deliver to such Grantor a proper instrument or instruments (including Uniform Commercial Code termination statements on form
UCC-3) acknowledging the satisfaction and termination of this Agreement, and will duly assign, transfer and deliver to such Grantor (without recourse and without any representation or warranty) such of the Collateral as may be in the possession of
the Collateral Agent and as has not theretofore been sold or otherwise applied or released pursuant to this Agreement. As used in this Agreement, “Termination Date” shall mean the date upon which the Total Commitment under the
Credit Agreement has been terminated and all Interest Rate Protection Agreements and Other Hedging Agreements entered into with any Other Creditor have been terminated, no Note under the Credit Agreement is outstanding and all Loans thereunder have
been repaid in full, all Letters of Credit issued under the Credit Agreement have been terminated or cash collateralized in a manner reasonably satisfactory to the Collateral Agent and all other Obligations then due and payable have been paid in
full. 
 (b) In the event that any part of the Collateral is sold or otherwise disposed of (to a Person other than a Credit
Party) (x) at any time prior to the time at which all Credit Document Obligations have been paid in full and all Commitments and Letters of Credit under the Credit Agreement have been terminated, in connection with a sale or disposition
permitted by Section 10.02 of the Credit Agreement or is otherwise released at the direction of the Required Lenders (or all the Lenders if required by Section 13.12 of the Credit Agreement) or (y) at any time thereafter, to the
extent permitted by the other Secured Debt Agreements, and in the case of clauses (x) and (y), the proceeds of such sale or disposition (or from such release) are applied in accordance with the terms of the Credit Agreement or such other
Secured Debt Agreement, as the case may be, to the extent required to be so applied, the Collateral Agent, at the request and expense of such Grantor, will duly release from the security interest created hereby (and will execute and deliver such
documentation, including termination or partial release statements and the like in connection therewith) and assign, transfer and deliver to such Grantor (without recourse and without any representation or warranty) such of the Collateral as is then
being (or has been) so sold or otherwise disposed of, or released, and as may be in the possession of the Collateral Agent and has not theretofore been released pursuant to this Agreement. Furthermore, upon the release of any U.S. Subsidiary
Guarantor from the U.S. Subsidiaries Guaranty in accordance with the provisions thereof, such Grantor (and the Collateral at such time assigned by the respective Grantor pursuant hereto) shall be released from this Agreement. 

(c) At any time that a Grantor desires that the Collateral Agent take any action to acknowledge or give effect to any release of
Collateral pursuant to the foregoing Section 10.8(b), such Grantor shall deliver to the Collateral Agent (and the relevant sub-agent, if any, designated hereunder) a certificate signed by a Responsible Officer of such Grantor stating that the
release of the respective Collateral is permitted pursuant to such Section 10.8(b). At any time that either U.S. Borrower or the respective Grantor desires that a Subsidiary of the U.S. Borrower which has been released from the U.S.
Subsidiaries Guaranty be released hereunder as provided in the last sentence of Section 10.8(b), it shall deliver to the Collateral Agent a certificate signed by a Responsible Officer of the U.S. Borrower and the respective Grantor stating that
the release of the respective Grantor (and its Collateral) is permitted pursuant to such Section 10.8(b). 
  

 -38- 

 (d) The Collateral Agent shall have no liability whatsoever to any other Secured Creditor as
the result of any release of Collateral by it in accordance with (or which the Collateral Agent in the absence of gross negligence and willful misconduct believes to be in accordance with) this Section 10.8. 

10.9 Counterparts. This Agreement may be executed in any number of counterparts and by the different parties hereto on
separate counterparts, each of which when so executed and delivered shall constitute an original, but all of which, when taken together, shall constitute one and the same instrument. A set of counterparts executed by all the parties hereto shall be
lodged with the U.S. Borrower and the Collateral Agent. Delivery of an executed signature page to this Agreement by facsimile, PDF or other electronic transmission shall be as effective as delivery of an original executed counterpart of this
Agreement. 
 10.10 Severability. Any provision of this Agreement which is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction. 
 10.11 The Collateral Agent and the other
Secured Creditors. The Collateral Agent will hold in accordance with this Agreement all items of the Collateral at any time received under this Agreement. It is expressly understood and agreed that the obligations of the Collateral Agent as
holder of the Collateral and interests therein and with respect to the disposition thereof, and otherwise under this Agreement, are only those expressly set forth in this Agreement and in Section 12 of the Credit Agreement. The Collateral Agent
shall act hereunder on the terms and conditions set forth herein and in Section 12 of the Credit Agreement. 
 10.12
Additional Grantors. It is understood and agreed that any Subsidiary Guarantor that desires to become a Grantor hereunder, or is required to execute a counterpart of this Agreement after the date hereof pursuant to the requirements of the
Credit Agreement or any other Credit Document, shall become a Grantor hereunder by executing a counterpart hereof and delivering same to the Collateral Agent, or by executing a joinder agreement in form and substance reasonably satisfactory to the
Collateral Agent, (y) delivering supplements to Annexes A through F, inclusive, and H through K, inclusive, hereto as are necessary to cause such Annexes to be complete and accurate with respect to such additional Grantor on such date and
(z) taking all actions as specified in this Agreement as would have been taken by such Grantor had it been an original party to this Agreement, in each case with all documents required above to be delivered to the Collateral Agent and with all
documents and actions required above to be taken to the reasonable satisfaction of the Collateral Agent. 
  

 -39- 

 [Remainder of this page intentionally left blank; signature page follows] 

 

 -40- 

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

			
	 PICASSO INTERMEDIATE COMPANY, INC., (which immediately following the Initial Borrowing Date will be renamed BWAY
INTERMEDIATE COMPANY, INC.)
 as a Grantor

		
	By:	 	 /s/ Michael B. Clauer

		 	Name: Michael B. Clauer
		 	Title: Chief Financial Officer

			
	 PICASSO MERGER SUB, INC., as a Grantor

		
	 By:
	 	 /s/ Michael B. Clauer

		 	 Name: Michael B. Clauer

Title: Chief Financial Officer

			
	 BWAY HOLDING COMPANY, as a Grantor

		
	By:	 	 /s/ Michael B. Clauer

		 	Name: Michael B. Clauer
		 	Title: Chief Financial Officer

  

					
	ARMSTRONG CONTAINERS, INC.
		
	By:	 	 /s/ Jeffrey M. O’Connell

		 	Name:	 	Jeffrey M. O’Connell
		 	Title:	 	Vice President
	
	BWAY CORPORATION
		
	By:	 	 /s/ Michael B. Clauer

		 	Name:	 	Michael B. Clauer
		 	Title:	 	Chief Financial Officer
	
	SC PLASTICS, LLC
		
	By:	 	 /s/ Jeffrey M. O’Connell

		 	Name:	 	Jeffrey M. O’Connell
		 	Title:	 	Vice President
	
	NORTH AMERICA PACKAGING CORPORATION
		
	By:	 	 /s/ Jeffrey M. O’Connell

		 	Name:	 	Jeffrey M. O’Connell
		 	Title:	 	Vice President
	
	NORTH AMERICA PACKAGING OF PUERTO RICO, INC.
		
	By:	 	 /s/ Jeffrey M. O’Connell

		 	Name:	 	Jeffrey M. O’Connell
		 	Title:	 	Vice President
	
	CENTRAL CAN COMPANY. INC
		
	By:	 	 /s/ Jeffrey M. O’Connell

		 	Name:	 	Jeffrey M. O’Connell
		 	Title:	 	Vice President

					
	 BWAY-KILBOURN, INC.

		
	 By:
	 	 /s/ Jeffrey M. O’Connell

		 	 Name:
	 	 Jeffrey M. O’Connell

		 	 Title:
	 	 Vice President

 Accepted and Agreed to: 

DEUTSCHE BANK TRUST COMPANY AMERICAS, 

					
	as Collateral Agent
		
	By:	 	 /s/ Erin Morrissey

		 	Name:	 	Erin Morrissey
		 	Title:	 	Vice President
		
	By:	 	 /s/ Carin Keegan

		 	Name:	 	Carin Keegan
		 	Title:	 	DirectorSecurity agreement dated as of June 16, 2010

 Exhibit 10.3 

ICL INDUSTRIAL CONTAINERS ULC/ICL, CONTENANTS INDUSTRIELS ULC 

as Obligor 
 and

 DEUTSCHE BANK TRUST COMPANY AMERICAS 

as Collateral Agent 
  

 
 SECURITY AGREEMENT

 June 16, 2010 
  

 
 STIKEMAN
ELLIOTT LLP 

 TABLE OF CONTENTS 

 

					
	 ARTICLE 1

INTERPRETATION

	Section 1.1	  	Defined Terms.	  	1
	Section 1.2	  	Interpretation.	  	8
	
	 ARTICLE 2

SECURITY

			
	Section 2.1	  	Grant of Security.	  	9
	Section 2.2	  	Secured Obligations.	  	10
	Section 2.3	  	Attachment.	  	10
	Section 2.4	  	Scope of Security Interest.	  	12
	Section 2.5	  	Grant of Licence to Use Intellectual Property.	  	13
	Section 2.6	  	Care and Custody of Collateral.	  	13
	Section 2.7	  	Rights of the Obligor.	  	14
	Section 2.8	  	Expenses.	  	14
	
	 ARTICLE 3

ENFORCEMENT

			
	Section 3.1	  	Enforcement.	  	14
	Section 3.2	  	Remedies.	  	14
	Section 3.3	  	Additional Rights.	  	16
	Section 3.4	  	Exercise of Remedies.	  	17
	Section 3.5	  	Receiver’s Powers.	  	17
	Section 3.6	  	Appointment of Attorney.	  	17
	Section 3.7	  	Dealing with the Collateral.	  	18
	Section 3.8	  	Standards of Sale.	  	18
	Section 3.9	  	Dealings by Third Parties.	  	19
	Section 3.10	  	Registration Rights.	  	19
	
	 ARTICLE 4

REPRESENTATIONS, WARRANTIES AND COVENANTS

			
	Section 4.1	  	Necessary Perfection Action.	  	20
	Section 4.2	  	No Liens.	  	21
	Section 4.3	  	Other Financing Statements.	  	21
	Section 4.4	  	Chief Executive Office, Record Locations.	  	21
	Section 4.5	  	Location of Inventory and Equipment.	  	21
	Section 4.6	  	Legal Names; Type of Organization; Jurisdiction of Organization; Chief Executive Office; Changes Thereto; etc.	  	22
	Section 4.7	  	Trade Names; etc.	  	22
	Section 4.8	  	Certain Significant Transactions.	  	22
	Section 4.9	  	Unextracted Collateral; Timber-Until-it-is-Cut.	  	22
	Section 4.10	  	Collateral in the Possession of a Bailee.	  	23
	Section 4.11	  	Recourse.	  	23

  

 (i) 

					
	 ARTICLE 5

SPECIAL PROVISIONS CONCERNING ACCOUNTS; CONTRACT RIGHTS;

INSTRUMENTS; CHATTEL PAPER AND CERTAIN OTHER COLLATERAL

			
	Section 5.1	  	Maintenance of Records.	  	23
	Section 5.2	  	Direction to Account Debtors; Contracting Parties; etc.	  	24
	Section 5.3	  	Modification of Terms; etc.	  	24
	Section 5.4	  	Collection.	  	25
	Section 5.5	  	Investment Property and Instruments.	  	25
	Section 5.6	  	Obligor Remains Liable Under Accounts.	  	26
	Section 5.7	  	Obligor Remains Liable Under Contracts.	  	26
	Section 5.8	  	Deposit Accounts; etc.	  	27
	Section 5.9	  	Letter-of-Credit Rights.	  	27
	Section 5.10	  	Chattel Paper.	  	27
	Section 5.11	  	Further Actions.	  	27
	
	 ARTICLE 6

SPECIAL PROVISIONS CONCERNING TRADEMARKS AND DOMAIN NAMES

			
	Section 6.1	  	Additional Representations and Warranties.	  	28
	Section 6.2	  	Licenses and Assignments.	  	28
	Section 6.3	  	Infringements.	  	28
	Section 6.4	  	Preservation of Marks and Domain Names.	  	29
	Section 6.5	  	Maintenance of Registration.	  	29
	Section 6.6	  	Future Registered Marks and Domain Names.	  	29
	Section 6.7	  	Remedies.	  	29
	
	 ARTICLE 7

SPECIAL PROVISIONS CONCERNING PATENTS, COPYRIGHTS AND TRADE

SECRETS

			
	Section 7.1	  	Additional Representations and Warranties.	  	30
	Section 7.2	  	Licenses and Assignments.	  	30
	Section 7.3	  	Infringements.	  	30
	Section 7.4	  	Maintenance of Patents or Copyrights.	  	31
	Section 7.5	  	Prosecution of Patent or Copyright Applications.	  	31
	Section 7.6	  	Other Patents and Copyrights.	  	31
	Section 7.7	  	Remedies.	  	31
	
	 ARTICLE 8

PROVISIONS CONCERNING ALL COLLATERAL

			
	Section 8.1	  	Protection of Collateral Agent’s Security.	  	32
	Section 8.2	  	Warehouse Receipts Non-Negotiable.	  	32
	Section 8.3	  	Additional Information.	  	32
	Section 8.4	  	Further Actions.	  	32
	Section 8.5	  	Financing Statements and Perfection.	  	33

  

 (ii) 

					
	 ARTICLE 9

INDEMNITY

			
	Section 9.1	  	Indemnity.	  	33
	Section 9.2	  	Indemnity Obligations Secured by Collateral; Survival.	  	35
	
	 ARTICLE 10

GENERAL

			
	Section 10.1	  	Notices.	  	35
	Section 10.2	  	The Collateral Agent and the other Secured Creditors.	  	35
	Section 10.3	  	No Merger, Survival of Representations and Warranties.	  	35
	Section 10.4	  	Further Assurances.	  	36
	Section 10.5	  	Supplemental Security.	  	36
	Section 10.6	  	Successors and Assigns.	  	36
	Section 10.7	  	Severability.	  	36
	Section 10.8	  	Amendment and Waiver.	  	36
	Section 10.9	  	Termination; Release.	  	37
	Section 10.10	  	Application of Proceeds of Security.	  	37
	Section 10.11	  	Conflict.	  	40
	Section 10.12	  	Governing Law.	  	40

 ADDENDA

  

			
		
	 SCHEDULE “A”
	  	INSTRUMENTS AND SECURITIES
		
	 SCHEDULE “B”
	  	INTELLECTUAL PROPERTY
		
	 SCHEDULE “C”
	  	LOCATIONS OF COLLATERAL
		
	 SCHEDULE “D”
	  	FORM OF CONFIRMATION OF SECURITY INTEREST IN INTELLECTUAL PROPERTY
		
	 EXHIBIT “A”
	  	TRADE-MARKS/PATENTS/COPYRIGHTS/INDUSTRIAL DESIGNS
		
	 SCHEDULE “E”
	  	DEPOSIT ACCOUNTS

  

 (iii) 

 SECURITY AGREEMENT 

Security agreement dated as of June 16, 2010 made by ICL Industrial Containers ULC/ICL, Contenants Industriels ULC to and in favour
of Deutsche Bank Trust Company Americas as Collateral Agent for the benefit of the Secured Creditors. 
 RECITALS: 

 

	 	(a)	The Administrative Agent and the Lenders have agreed to make certain credit facilities available to the Obligor on the terms and conditions contained in the Credit
Agreement; 

  

	 	(b)	The Obligor may at any time and from time to time enter into one or more Interest Rate Protection Agreements with one or more Lenders or any affiliate thereof (each
such Lender or affiliate, even if the respective Lender subsequently ceases to be a Lender under the Credit Agreement for any reason, together with such Lender’s or affiliate’s successors and assigns, if any, collectively, the
“Other Creditors”); and 

  

	 	(c)	It is a condition precedent to the extension of credit to the Obligor under the Credit Agreement and to the Other Creditors entering into Interest Rate Protection
Agreements that the Obligor execute and deliver this Agreement in favour of the Collateral Agent as security for the payment and performance of the Obligor’s obligations under the Credit Agreement and the other Credit Documents to which it is a
party. 

 In consideration of the foregoing and other good and valuable consideration, the receipt and adequacy of
which are acknowledged, the Obligor agrees as follows. 
 ARTICLE 1 

INTERPRETATION 

Section 1.1 Defined Terms. 

As used in this Agreement, the following terms have the following meanings: 

“Account” means any “account” as such term is defined in the Personal Property Security Act (Ontario) as
in effect on the date hereof. 
 “Administrative Agent” means Deutsche Bank Trust Company Americas acting as
administrative agent for the Lenders under the Credit Agreement and any successor agent appointed under the Credit Agreement, and its successors and permitted assigns. 

“Agreement” means this security agreement. 

 “Cash Collateral Account” means a non-interest bearing cash collateral
account maintained with, and in the sole dominion and control of, the Collateral Agent for the benefit of the Secured Creditors. 

“CIPO” means the Canadian Intellectual Property Office. 

“Collateral” has the meaning specified in Section 2.1. 

“Collateral Agent” means Deutsche Bank Trust Company Americas acting as collateral agent for the Secured Creditors and
any successor collateral agent and its successors and permitted assigns. 
 “Contract Rights” means all rights
of the Obligor under each Contract, including, without limitation, (i) any and all rights to receive and demand payments under any or all Contracts, (ii) any and all rights to receive and compel performance under any or all Contracts and
(iii) any and all other rights, interests and claims now existing or in the future arising in connection with any or all Contracts. 

“Contracts” means all contracts between the Obligor and one or more additional parties (including, without limitation,
any Interest Rate Protection Agreements, Other Hedging Agreements, any licensing agreements and any partnership agreements, joint venture agreements and limited liability company agreements and settlement agreements). 

“Copyright” means all copyrights, whether statutory or common law, owned by or assigned to the Obligor, and, to the
extent that the grant of a security interest does not cause a breach or termination thereof, all exclusive and nonexclusive licenses to the Obligor from third parties or rights to use copyrights owned by such third parties, including the
registrations, applications and licenses of the Obligor listed on Schedule “B”, along with any and all (a) renewals and extensions thereof, (b) income, royalties, damages, claims and payments now and hereafter due and/or
payable with respect thereto, including damages and payments for past, present or future infringements thereof, (c) rights to sue for past, present and future infringements thereof, and (d) foreign copyrights and any other rights
corresponding thereto throughout the world. 
 “Credit Agreement” means the credit agreement dated as of
June 16, 2010, among Picasso Intermediate Company, Inc., a Delaware corporation (which immediately following the Initial Borrowing Date will be renamed BWAY Intermediate Company, Inc.,) Picasso Merger Sub, Inc., which, on the Initial Borrowing
Date, will merge into, and be survived by, BWAY Holding Company, a Delaware Corporation, the Obligor, the Lenders party thereto from time to time, the Administrative Agent, Barclays Capital, the investment banking division of Barclays Bank PLC, as
Documentation Agent, Deutsche Bank Securities Inc., Banc of America Securities LLC and Barclays Capital, the investment banking division of Barclays Bank PLC, as Joint Lead Arrangers, as the same may be amended, modified, extended, renewed,
replaced, restated, supplemented or refinanced from time to time and includes any agreement extending the maturity of, refinancing or restructuring all or any portion of, the indebtedness under such agreement or any successor agreements, whether or
not with the same Administrative Agent or Lenders. 

 “Credit Documents” means the Credit Agreement, this Agreement and each
other Credit Document (as such term is defined in the Credit Agreement) to which the Obligor is a party. 
 “Deposit
Accounts” means all demand, time, savings, passbook or similar accounts. 
 “Domain Names” means all
Internet domain names and associated URL addresses to which the Obligor now or hereafter has any right, title or interest. 

“Event of Default” means (x) at any time prior to the time at which all Credit Document Obligations have been paid
in full (other than unasserted contingent indemnification obligations) and all Commitments and Letters of Credit under the Credit Agreement have been terminated, any Event of Default under, and as defined in, the Credit Agreement and (y) at any
time, any payment default on any of the Obligations after the expiration of any applicable grace period. 
 “Excluded
Collateral” has the meaning specified in Section 2.1. 
 “Excluded Deposit Accounts” means
(1) any payroll account, (2) any withholding tax, benefits, escrow, trust, customs or any other fiduciary account, (3) any zero balance Deposit Account, provided the amount on deposit therein does not exceed the amount necessary to
cover outstanding checks, amounts necessary to maintain minimum deposit requirements and amounts necessary to pay the depositary institution’s fees and expenses, and (4) each other Deposit Account which is (i) designated by the
Obligor in writing to the Collateral Agent as an “Excluded Deposit Account” and (ii) approved in writing as an “Excluded Deposit Account” by the Collateral Agent in its sole discretion (it being understood and agreed that it
is the intention of the parties hereto that the amounts on deposit in such Excluded Deposit Accounts at the end of each Business Day shall not exceed US$500,000 in the aggregate). 

“Expenses” has the meaning specified in Section 2.2(b). 

“Governmental Entity” means (i) any international, multinational, national, federal, provincial, state, municipal,
local or other governmental or public department, central bank, court, commission, board, bureau, agency or instrumentality, domestic or foreign, (ii) any subdivision or authority of any of the above, (iii) any stock exchange and
(iv) any quasi-governmental or private body exercising any regulatory, expropriation or taxing authority under or for the account of any of the above. 

“Indemnified Liabilities” has the meaning specified in Section 9.1(1). 

“Indemnitee” has the meaning specified in Section 9.1(1). 

 “Instruments” means (i) a bill, note or cheque within the meaning of
the Bills of Exchange Act (Canada) or any other writing that evidences a right to the payment of money and is of a type that in the ordinary course of business is transferred by delivery with any necessary endorsement or assignment, or
(ii) a letter of credit and an advice of credit if the letter or advice states that it must be surrendered upon claiming payment thereunder, or (iii) chattel paper or any other writing that evidences both a monetary obligation and a
security interest in or a lease of specific goods, or (iv) documents of title or any other writing that purports to be issued by or addressed to a bailee and purports to cover such goods in the bailee’s possession as are identified or
fungible portions of an identified mass, and that in the ordinary course of business is treated as establishing that the Person in possession of it is entitled to receive, hold and dispose of the document and the goods it covers, or (v) any
document or writing commonly known as an instrument, but excludes investment property. 
 “Intellectual
Property” means domestic and foreign: (i) patents, applications for patents and reissues, divisions, continuations, renewals, extensions and continuations-in-part of patents or patent applications; (ii) proprietary and non-public
business information, including inventions (whether patentable or not), invention disclosures, improvements, discoveries, trade secrets, confidential information, know-how, methods, processes, designs, technology, technical data, schematics,
formulae and customer lists, and documentation relating to any of the foregoing; (iii) copyrights, copyright registrations and applications for copyright registration; (iv) mask works, mask work registrations and applications for mask work
registrations; (v) designs, design registrations, design registration applications and integrated circuit topographies; (vi) trade names, business names, corporate names, domain names, website names and world wide web addresses, common law
trade-marks, trade-mark registrations, trade mark applications, trade dress and logos, and the goodwill associated with any of the foregoing; (vii) computer software and programs (both source code and object code form), all proprietary rights
in the computer software and programs and all documentation and other materials related to the computer software and programs; and (viii) any other intellectual property and industrial property. 

“Lender Creditors” means, collectively, the Lenders, each Issuing Lender, the Administrative Agent, the Collateral Agent
and each other Agent. 
 “Marks” means all trademarks (including service marks), federal and provincial
trademark registrations and, to the extent the grant of a security interest does not cause a breach of or termination thereof, applications made by the Obligor, common law trademarks and trade names owned by or assigned to the Obligor, all
registrations and applications for the foregoing and all exclusive and nonexclusive licenses to the Obligor from third parties of the right to use trademarks of such third parties, including the registrations, applications, unregistered trademarks,
service marks and licenses listed on Schedule “B”, along with any and all (a) renewals thereof, (b) income, royalties, damages and payments now and hereafter due and/or payable with respect thereto, including damages, claims
and payments for past or future infringements thereof, (c) rights to sue for past, present and future infringements thereof, and (d) foreign trademarks, trademark registrations, and trade name applications for any thereof and any other
rights corresponding thereto throughout the world. 

 “Obligations” means and includes all of the following: 

 

	 	(a)	the full and prompt payment when due (whether at stated maturity, by acceleration or otherwise) of all obligations, liabilities and indebtedness (including, without
limitation, principal, if any, premium, interest (including all interest that accrues after the commencement of any case, proceeding or other action relating to the bankruptcy, insolvency, reorganization or similar proceeding of the Obligor thereof
at the rate provided for in the respective documentation, whether or not a claim for post-petition interest is allowed in any such proceeding), reimbursement obligations under Letters of Credit, fees, costs and indemnities) of the Obligor owing to
the Lender Creditors, or any one of them, whether now existing or hereafter incurred under, arising out of, or in connection with, the Credit Agreement and each other Credit Document and the due performance and compliance by the Obligor with all of
the terms, conditions and agreements contained in the Credit Agreement and in such other Credit Documents (all such obligations liabilities or indebtedness with respect to this clause (i), except to the extent consisting of obligations or
indebtedness with respect to Interest Rate Protection Agreements or Other Hedging Agreements, being herein collectively called the “Credit Document Obligations”); 

 

	 	(b)	the full and prompt payment when due (whether at stated maturity, by acceleration or otherwise) of all obligations, liabilities and indebtedness (including, without
limitation, all interest that accrues after the commencement of any case, proceeding or other action relating to the bankruptcy, insolvency, reorganization or similar proceeding of the Obligor at the rate provided for in the respective
documentation, whether or not a claim for post-petition interest is allowed in any such proceeding) owing by the Obligor to the Other Creditors, or any one of them, now existing or hereafter incurred under, arising out of or in connection with any
Interest Rate Protection Agreement or Other Hedging Agreement, whether such Interest Rate Protection Agreement or Other Hedging Agreement is now in existence or hereinafter arising, and the due performance and compliance by the Obligor with all of
the terms, conditions and agreements contained in each such Interest Rate Protection Agreement and Other Hedging Agreement (“Other Obligations”); 

 

	 	(c)	any and all sums advanced by the Collateral Agent in order to preserve the Collateral or preserve its security interest in the Collateral; 

 

	 	(d)	in the event of any proceeding for the collection or enforcement of any indebtedness, obligations, or liabilities of the Obligor referred to in clauses (a) and
(b) above, after an Event of Default shall have occurred and be continuing, the reasonable expenses of retaking, holding, preparing for sale or lease, selling or otherwise disposing of or realizing on the Collateral, or of any exercise by the
Collateral Agent of its rights hereunder, together with reasonable and invoiced legal fees and court costs; 

	 	(e)	all amounts paid by any Indemnitee as to which such Indemnitee has the right to reimbursement under Section 9.1 of this Agreement; and 

 

	 	(f)	all amounts owing by the Obligor to the Administrative Agent or Collateral Agent pursuant to any of the Credit Documents in its capacity as such;

 it being acknowledged and agreed that the “Obligations” shall include extensions of credit of the
types described above, whether outstanding on the date of this Agreement or extended from time to time after the date of this Agreement. 

“Obligor” means ICL Industrial Containers ULC/ICL, Contenants Industriels ULC, an unlimited liability company existing
under the laws of Nova Scotia, and its successors and permitted assigns. 
 “Other Creditors” has the meaning
given to it in the recitals to this Agreement. 
 “Patents” means all patents issued or assigned to and all
patent applications made by the Obligor and, to the extent that the grant of a security interest does not cause a breach or termination thereof, all exclusive and nonexclusive licenses to the Obligor from third parties or rights to use patents owned
by such third parties, including the patents, patent applications and licenses listed on Schedule “B”, along with any and all (a) inventions and improvements described and claimed therein, (b) reissues, divisions,
continuations, extensions and continuations-in-part thereof, (c) income, royalties, damages, claims and payments now and hereafter due and/or payable under and with respect thereto, including damages and payments for past or future
infringements thereof, (d) rights to sue for past, present and future infringements thereof, and (e) any other rights corresponding thereto throughout the world. 

“PPSA” means the Personal Property Security Act (Ontario) and the regulations promulgated thereunder or other
personal property security legislation of the applicable Canadian province or provinces in respect of the Obligor (including the Civil Code of the Province of Quebec) and the Regulation respecting the register of personal and movable real
rights promulgated thereunder as all such legislation now exists or may from time to time hereafter be amended, modified, recodified, supplemented or replaced, together with all rules, regulations and interpretations thereunder or related thereto.

 “Primary Obligations” has the meaning specified in Section 10.10(2). 

“Pro Rata Share” has the meaning specified in Section 10.10(2). 

“Registrable Intellectual Property” means any Intellectual Property in respect of which ownership, title, security
interests, charges or encumbrances are capable of registration, recording or notation with any Governmental Entity pursuant to applicable laws. 

 “Required Secured Creditors” means (i) at any time when any Credit
Document Obligations are outstanding or any Commitments under the Credit Agreement exist, the Required Lenders (or, to the extent provided in Section 13.12 of the Credit Agreement, each of the Lenders) and (ii) at any time after all of the
Credit Document Obligations have been paid in full and all Commitments under the Credit Agreement have been terminated and no further Commitments may be provided thereunder, the holders of a majority of the Other Obligations. 

“Secondary Obligations” has the meaning specified in Section 10.10(2). 

“Secured Creditors” means the Lender Creditors and the Other Creditors. 

“Secured Obligations” has the meaning specified in Section 2.2(b). 

“Securities” means: 
  

	 	(a)	an obligation of an issuer or a share, participation or other interest in an issuer or in property or an enterprise of an issuer that (i) is represented by a
security certificate in bearer form or registered form, or the transfer of which may be registered on books maintained for that purpose by or on behalf of the issuer, (ii) is one of a class or series, or by its terms is divisible into a class
or series, of shares, participations, interests or obligations, and (iii) is, or is of a type, dealt in or traded on securities exchanges or securities markets, or is a medium for investment and by its terms expressly provides that it is a
security for the purposes of the STA; and 

  

	 	(b)	any other share, participation or other interest in a Person; 

but excludes 
  

	 	(c)	any ULC Shares. 

“Security Interest” has the meaning specified in Section 2.2. 

“Termination Date” means that date upon which the Total Commitment under the Credit Agreement has been terminated and all
Interest Rate Protection Agreements and Other Hedging Agreements entered into with any Other Creditor have been terminated, no Note under the Credit Agreement is outstanding and all Loans thereunder have been repaid in full, all Letters of Credit
issued under the Credit Agreement have been terminated or cash collateralized in a manner reasonably satisfactory to the Collateral Agent and all other Obligations then due and payable have been paid in full. 

“Trade Secret Rights” means the rights of the Obligor in any Trade Secrets it holds. 

 “Trade Secrets” means any secretly held existing engineering or other
proprietary data, information, formulas, production procedures and other know-how relating to the design, manufacture, assembly, installation, use, operation, marketing, sale and/or servicing of any products or business of the Obligor worldwide,
whether written or not. 
 “ULC Shares” means shares in any unlimited company or unlimited liability corporation
at any time owned or otherwise held by the Obligor. 
 Section 1.2 Interpretation. 

 

	(1)	Terms defined in the PPSA as in effect on the date hereof or the Securities Transfer Act, 2006 (Ontario) (“STA”) and used but not
otherwise defined in this Agreement have the same meanings. For greater certainty, the terms “account”, “chattel paper”, “document of title”, “equipment”,
“intangible”, “investment property”, “money”, “personal property” and “proceeds” have the meanings given to them in the PPSA; and the terms “certificated
security”, “control”, “deliver”, “financial asset”, “securities account”, “securities intermediary”, “security entitlement” and
“uncertificated security” have the meanings given to them in the STA. Capitalized terms used in this Agreement but not defined have the meanings given to them in the Credit Agreement. 

 

	(2)	Any reference in any Credit Document to Liens permitted by the Credit Agreement and any right of the Obligor to create or suffer to exist Liens permitted by the Credit
Agreement are not intended to and do not and will not subordinate the Security Interest to any such Lien or give priority to any Person over the Secured Creditors. 

 

	(3)	In this Agreement the words “including”, “includes” and “include” mean “including (or includes or include)
without limitation”. The expressions “Article”, “Section” and other subdivision followed by a number mean and refer to the specified Article, Section or other subdivision of this Agreement.

  

	(4)	Any reference in this Agreement to gender includes all genders. Words importing the singular number only include the plural and vice versa. 

 

	(5)	The division of this Agreement into Articles, Sections and other subdivisions and the insertion of headings are for convenient reference only and do not affect its
interpretation. 

  

	(6)	The schedules attached to this Agreement form an integral part of it for all purposes of it. 

 

	(7)	Any reference to this Agreement, any Credit Document or any Security Document refers to this Agreement or such Credit Document or Security Document as the same may have
been or may from time to time be amended, modified, extended, renewed, restated, replaced or supplemented and includes all schedules attached to it. Except as otherwise provided in this Agreement, any reference in this Agreement to a statute refers
to such statute and all rules and regulations made under it as the same may have been or may from time to time be amended or re-enacted. 

 ARTICLE 2 

SECURITY 

Section 2.1 Grant of Security. 

Subject to Section 2.4, the Obligor grants to the Collateral Agent, for the benefit of the Secured Creditors, a security interest in,
and mortgages, charges, hypothecates, pledges and assigns by way of collateral security to the Collateral Agent, for the benefit of the Secured Creditors, all of the property and undertaking of the Obligor now owned or hereafter from time to time
acquired and all of the property and undertaking in which the Obligor now has or hereafter from time to time acquires any interest (collectively, the “Collateral”) including all of the Obligor’s: 

 

	 	(a)	present and after-acquired personal property; 

  

	 	(b)	inventory including goods held for sale, lease or resale, goods furnished or to be furnished to third parties under contracts of lease, consignment or service, goods
which are raw materials or work in process, goods used in or procured for packing and materials used or consumed in the business of the Obligor; 

  

	 	(c)	equipment, machinery, furniture, fixtures, plant, vehicles and other goods of every kind and description and all licences and other rights and all related records,
files, charts, plans, drawings, specifications, manuals and documents; 

  

	 	(d)	each and every Account, accounts due or accruing and all related agreements, books, accounts, invoices, letters, documents and papers recording, evidencing or relating
to them; 

  

	 	(e)	money, documents of title, chattel paper, financial assets and investment property; 

 

	 	(f)	securities accounts, including the securities accounts listed in Schedule “A” and all of the credit balances, securities entitlements, other financial
assets and items or property (or their value) standing to the credit from time to time in such securities accounts; 

  

	 	(g)	Instruments and Securities, including the Instruments and Securities listed in Schedule “A”; 

 

	 	(h)	intangibles including all security interests, goodwill, choses in action, Contracts, Contract Rights, Deposit Accounts, licenses and other contractual benefits;

  

	 	(i)	Intellectual Property including the Registrable Intellectual Property listed in Schedule “B”; 

	 	(j)	all substitutions and replacements of and increases, additions and, where applicable, accessions to the property described in Section 2.1(a) through
Section 2.1(i) inclusive; and 

  

	 	(k)	all proceeds in any form derived directly or indirectly from any dealing with all or any part of the property described in Section 2.1(a) through
Section 2.1(j) inclusive, including the proceeds of such proceeds. 

 Section 2.2 Secured Obligations.

 The security interest, mortgage, charge, hypothecation, pledge and assignment by way of collateral security granted by
this Agreement (collectively, the “Security Interest”) secures the payment and performance of: 
  

	 	(a)	the Obligations; and 

  

	 	(b)	all reasonable out-of-pocket expenses, costs and charges incurred by or on behalf of the Secured Creditors in connection with this Agreement, the Security Interest or
the Collateral, including all reasonable legal fees, court costs, receiver’s or agent’s remuneration and other expenses of taking possession of, repairing, protecting, insuring, preparing for disposition, realizing, collecting, selling,
transferring, delivering or obtaining payment for the Collateral, and of taking, defending or participating in any action or proceeding in connection with any of the foregoing matters or otherwise in connection with the Secured Creditors’
interest in any Collateral, whether or not directly relating to the enforcement of this Agreement or any other Credit Document (collectively, the “Expenses” and, together with the Obligations, the “Secured
Obligations”). 

 Section 2.3 Attachment. 

 

	(1)	The Obligor acknowledges that (i) value has been given, (ii) it has rights in the Collateral (other than after-acquired Collateral), (iii) it has not
agreed to postpone the time of attachment of the Security Interest, and (iv) it has received a copy of this Agreement. 

  

	(2)	If the Obligor (i) acquires any Securities, (ii) acquires any other financial assets that have not been credited to a securities account specified in
Schedule “A”, (iii) acquires any Instruments having a value in excess of US$500,000 individually, or (iv) establishes or maintains a securities account that is not specified in Schedule “A”, the Obligor will
notify the Collateral Agent in writing and provide the Collateral Agent with a revised Schedule “A” recording the acquisition or establishment of and particulars relating to such Securities, financial assets, Instruments or securities
account on or prior to the date of the required delivery of the Compliance Certificate provided under the Credit Agreement following such acquisition. The Obligor will concurrently with the delivery of the next Compliance Certificate provided under
the Credit Agreement thereafter furnish the Collateral Agent with written notice of the acquisition by the Obligor of any ULC Shares. 

	(3)	At the request of the Collateral Agent, the Obligor will take all action that the Collateral Agent reasonably deems necessary to cause the Collateral Agent to have
control over any Securities or other investment property that are now or at any time become Collateral, including (i) causing the Collateral to be transferred to or registered in the name of the Collateral Agent or its nominee or otherwise as
the Collateral Agent may direct, (ii) endorsing any certificated Securities to the Collateral Agent or in blank by an effective endorsement, (iii) delivering the Collateral to the Collateral Agent or someone on its behalf as the Collateral
Agent may direct (iv) delivering to the Collateral Agent any and all consents or other documents or agreements which may be necessary to effect the transfer of any Collateral to the Collateral Agent or any third party and (v) entering into
control agreements with the Collateral Agent and the applicable securities intermediary or issuer in respect of any Collateral in form and substance satisfactory to the Collateral Agent. 

 

	(4)	At the request of the Collateral Agent, the Obligor will (i) deliver to and deposit with the Agent any promissory note or other Instruments evidencing any amount
payable in excess of US$500,000, (ii) cause the transfer of any Instruments to the Collateral Agent to be registered wherever such registration may be required or advisable in the opinion of the Collateral Agent, (iii) endorse any
Instruments to the Collateral Agent or in blank or register them in the name of the Collateral Agent or its nominee or otherwise as the Collateral Agent may direct and (iv) deliver to the Collateral Agent any and all consents or other documents
that may be necessary to effect the transfer of any Instruments to the Collateral Agent or any third party. 

  

	(5)	In order to allow the Obligor to vote any Securities registered in the Agent’s name or the name of its nominee, the Agent will prior to, and may after, the
Security Interest being enforceable, at the request and the expense of the Obligor, (i) execute valid proxies appointing proxyholders to attend and act at meetings of shareholders, and (ii) execute resolutions in writing, all pursuant to
the relevant provisions of the issuer’s governing legislation. 

  

	(6)	The Obligor will promptly notify the Collateral Agent in writing of the acquisition by the Obligor of any Registrable Intellectual Property. The Obligor will provide
the Collateral Agent with a revised Schedule “B” recording the acquisition and particulars of such additional Intellectual Property. 

  

	(7)	Immediately upon the request of the Collateral Agent, the Obligor will furnish the Collateral Agent in writing the description of all Registrable Intellectual Property
or applications for Registrable Intellectual Property of the Obligor. 

  

 11 

 Section 2.4 Scope of Security Interest. 

 

	(1)	Notwithstanding Section 2.1, no security interest is or will be granted pursuant hereto in any right, title or interest of the Obligor under or in (each of (a) -
(f) below, collectively, the “Excluded Collateral”): 

  

	 	(a)	any Instruments, Contracts, chattel paper, intangibles, licenses, permit, quota or other contracts or agreements with or issued by Persons other than the Obligor or a
Subsidiary of the Obligor or an Affiliate thereof (collectively, “Excluded Agreements”) that would otherwise be included in the Collateral (and such Excluded Agreements shall not be deemed to constitute a part of the Collateral) for
so long as, and to the extent that, the granting of such a security interest pursuant hereto would result in a breach, default or termination of such Excluded Agreements (in each case, except to the extent any such breach, default or termination
would be rendered ineffective under the PPSA or other applicable law); provided, however, that a security interest in an Excluded Agreement in favour of the Secured Creditors shall attach immediately at such time as the Obligor’s
grant of a security interest in such Excluded Agreement no longer results in a breach, default or termination thereof or thereunder and, to the extent severable, shall attach immediately to any portion of such Excluded Agreement that does not result
in a respective breach, default or termination thereof or thereunder, including, without limitation, any proceeds of such Excluded Agreement; provided further, that, in furtherance of the foregoing, the Obligor agrees that it shall not
amend any material Excluded Agreement in effect as of the date hereof so that the grant of a security interest therein would result in a breach, default or termination of such Excluded Agreement; 

 

	 	(b)	any rights or property to the extent that any valid and enforceable law or regulation applicable to such rights or property prohibits the creation of a security
interest therein; 

  

	 	(c)	those assets as to which the Collateral Agent shall agree to in its sole discretion that the cost of obtaining a security interest are excessive in relation to the
value of the security to be afforded thereby; 

  

	 	(d)	in the case of foreign jurisdictions, those assets to the extent that such grant of a security interest is prohibited by the limitations of applicable local law;

  

	 	(e)	any Securities in a joint venture or other non Wholly-Owned Subsidiary to the extent that granting a security interest in or lien on such Securities is not permitted by
the governing documents of such joint venture or other non Wholly-Owned Subsidiary; and 

  

	 	(f)	Excluded Deposit Accounts. 

  

	(2)	The Security Interest with respect to trade-marks constitutes a security interest in, and a charge, hypothecation and pledge of, such Collateral in favour of the
Collateral Agent for the benefit of the Secured Creditors, but does not constitute an assignment or mortgage of such Collateral to the Collateral Agent or any Secured Creditor. 

 

	(3)	Until the Security Interest is enforceable, the grant of the Security Interest in the Intellectual Property does not affect in any way the Obligor’s rights to
commercially exploit the Intellectual Property, defend it, enforce the Obligor’s rights in it or with respect to it against third parties in any court or claim and be entitled to receive any damages with respect to any infringement of it.

	(4)	The Security Interest does not extend to consumer goods or ULC Shares. 

  

	(5)	The Security Interest does not extend or apply to the last day of the term of any lease or sublease of real property or any agreement for a lease or sublease of real
property, now held or hereafter acquired by the Obligor, but the Obligor will stand possessed of any such last day upon trust to assign and dispose of it as the Collateral Agent may reasonably direct. 

Section 2.5 Grant of Licence to Use Intellectual Property. 
  

	(1)	At such time as the Collateral Agent is lawfully entitled to exercise its rights and remedies under Article 3, the Obligor grants to the Collateral Agent an
irrevocable, nonexclusive licence (exercisable without payment of royalty or other compensation to the Obligor) to use, assign or sublicense any Intellectual Property in which the Obligor has rights wherever the same may be located, including in
such licence access to (i) all media in which any of the licensed items may be recorded or stored, and (ii) all software and computer programs used for compilation or print-out. The license granted under this Section is to enable the
Collateral Agent to exercise its rights and remedies under Article 3 and for no other purpose. 

  

	(2)	The Collateral Agent acknowledges that the standard of quality for the use, assignment or sublicensing of Intellectual Property of the Obligor shall be no less than the
standard of quality employed by the Obligor as of the day before the exercise of rights and remedies under Article 3 by the Collateral Agent in conjunction with wares and/or services sold in association with such Intellectual Property.

 Section 2.6 Care and Custody of Collateral. 

 

	(1)	Neither the Collateral Agent nor any other Secured Creditor has any obligation to keep Collateral in their possession identifiable. 

 

	(2)	Without limiting any other rights or remedies under this Agreement, the Collateral Agent may, upon the occurrence and during the continuance of an Event of Default,
(i) notify any Person obligated on an Instrument, Security or account to make payments to the Collateral Agent, whether or not the Obligor was previously making collections on such accounts, chattel paper, instruments, and (ii) assume
control of any proceeds arising from the Collateral. 

  

	(3)	The Collateral Agent has no obligation to collect dividends, distributions or interest payable on, or exercise any option or right in connection with any Collateral.
The Collateral Agent has no obligation to protect or preserve any Collateral from depreciating in value or becoming worthless and is released from all responsibility for any loss of value, whether such Collateral is in the possession of, is a
security entitlement of, or is subject to the control of, the Collateral Agent, a securities intermediary, the Obligor or any other Person. In the physical keeping of any Securities, the Collateral Agent is only obliged to exercise the same degree
of care as it would exercise with respect to its own Securities kept at the same place. 

	(4)	The Collateral Agent may, upon the occurrence and during the continuance of an Event of Default, sell, transfer, use or otherwise deal with any investment property
included in the Collateral over which the Collateral Agent has control, on such conditions and in such manner as the Collateral Agent in its sole discretion may determine. 

Section 2.7 Rights of the Obligor. 
  

	(1)	Until the occurrence of an Event of Default which is continuing, the Obligor is entitled to vote the Securities and other financial assets that are part of the
Collateral and to receive all dividends and distributions on such Securities and financial assets. Upon the occurrence and during the continuance of an Event of Default, all rights of the Obligor to vote (under any proxy given by the Collateral
Agent (or its nominee) or otherwise) or to receive distributions or dividends cease and all such rights become vested solely and absolutely in the Collateral Agent. 

 

	(2)	Any distributions or dividends received by the Obligor contrary to Section 2.7(1) or any other moneys or property received by the Obligor after the Security
Interest is enforceable will be received as trustee for the Collateral Agent and the Secured Creditors and shall be immediately paid over to the Collateral Agent. 

Section 2.8 Expenses. 

The Obligor is liable for and will pay on demand by the Collateral Agent any and all Expenses. 

ARTICLE 3 

ENFORCEMENT 

Section 3.1 Enforcement. 

The Security Interest becomes and is enforceable against the Obligor upon the occurrence and during the continuance of an Event of
Default. 
 Section 3.2 Remedies. 

Whenever the Security Interest is enforceable, the Collateral Agent may realize upon the Collateral and enforce the rights of the
Collateral Agent and the Secured Creditors by: 
  

	 	(a)	entry onto any premises where Collateral consisting of tangible personal property may be located; 

 

	 	(b)	entry into possession of the Collateral by any method permitted by law; 

  

	 	(c)	sale, grant of options to purchase, or lease of all or any part of the Collateral; 

	 	(d)	holding, storing and keeping idle or operating all or any part of the Collateral; 

 

	 	(e)	exercising and enforcing all rights and remedies of a holder of the Collateral as if the Collateral Agent were the absolute owner thereof (including, if necessary,
causing the Collateral to be registered in the name of the Collateral Agent or its nominee if not already done); 

  

	 	(f)	collection of any proceeds arising in respect of the Collateral; 

  

	 	(g)	collection, realization or sale of, or other dealing with, accounts; 

  

	 	(h)	license or sublicense, whether on an exclusive or nonexclusive basis, of any Intellectual Property (subject to reasonable quality control) owned by the Obligor for such
term and on such conditions and in such manner as the Collateral Agent in its sole judgment determines (taking into account such provisions as may be necessary to protect and preserve such Intellectual Property); 

 

	 	(i)	instruction or order to any issuer or securities intermediary pursuant to any control the Collateral Agent has over the Collateral; 

 

	 	(j)	instruction to any bank to transfer all moneys constituting Collateral held by such bank to an account maintained with or by the Collateral Agent;

  

	 	(k)	application of any moneys constituting Collateral or proceeds thereof in accordance with Section 10.10; 

 

	 	(l)	appointment by instrument in writing of a receiver (which term as used in this Agreement includes a receiver and manager) or agent of all or any part of the Collateral
and removal or replacement from time to time of any receiver or agent; 

  

	 	(m)	institution of proceedings in any court of competent jurisdiction for the appointment of a receiver of all or any part of the Collateral; 

 

	 	(n)	institution of proceedings in any court of competent jurisdiction for sale or foreclosure of all or any part of the Collateral; 

 

	 	(o)	filing of proofs of claim and other documents to establish claims to the Collateral in any proceeding relating to the Obligor; and 

 

	 	(p)	any other remedy or proceeding authorized or permitted under the PPSA or otherwise by law or equity. 

 Section 3.3 Additional Rights. 

In addition to the remedies set forth in Section 3.2 and elsewhere in this Agreement, whenever the Security Interest is enforceable,
the Collateral Agent may: 
  

	 	(a)	require the Obligor, at the Obligor’s expense, to assemble the Collateral at a place or places designated by notice in writing and the Obligor agrees to so
assemble the Collateral immediately upon receipt of such notice; 

  

	 	(b)	require the Obligor, by notice in writing, to disclose to the Collateral Agent the location or locations of the Collateral and the Obligor agrees to promptly make such
disclosure when so required; 

  

	 	(c)	repair, process, modify, complete or otherwise deal with the Collateral and prepare for the disposition of the Collateral, whether on the premises of the Obligor or
otherwise; 

  

	 	(d)	redeem any prior security interest against any Collateral, procure the transfer of such security interest to itself, or settle and pass the accounts of the prior
mortgagee, chargee or encumbrancer (any accounts to be conclusive and binding on Obligor); 

  

	 	(e)	pay any liability secured by any Lien against any Collateral (the Obligor will immediately on demand reimburse the Collateral Agent for all such payments);

  

	 	(f)	carry on all or any part of the business of the Obligor and, to the exclusion of all others including the Obligor, enter upon, occupy and use all or any of the
premises, buildings, and other property of or used by the Obligor for such time as the Collateral Agent sees fit, free of charge, and the Collateral Agent and the Secured Creditors are not liable to the Obligor for any act, omission or negligence in
so doing or for any rent, charges, depreciation or damages incurred in connection with or resulting from such action; 

  

	 	(g)	borrow for the purpose of carrying on the business of the Obligor or for the maintenance, preservation or protection of the Collateral and grant a security interest in
the Collateral, whether or not in priority to the Security Interest, to secure repayment; 

  

	 	(h)	commence, continue or defend any judicial or administrative proceedings for the purpose of protecting, seizing, collecting, realizing or obtaining possession or payment
of the Collateral, and give good and valid receipts and discharges in respect of the Collateral and compromise or give time for the payment or performance of all or any part of the accounts or any other obligation of any third party to the Obligor;
and 

  

	 	(i)	at any public sale, and to the extent permitted by law on any private sale, bid for and purchase any or all of the Collateral offered for sale and upon compliance with
the terms of such sale, hold, retain and dispose of such Collateral without any further accountability to the Obligor or any other Person with respect to such holding, retention or disposition, except as required by law. In any such sale to the
Collateral Agent, the Collateral Agent may, for the purpose of making payment for all or any part of the Collateral so purchased, use any claim for Secured Obligations then due and payable to it as a credit against the purchase price.

 Section 3.4 Exercise of Remedies. 

The remedies under Section 3.2 and Section 3.3 may be exercised from time to time separately or in combination and are in
addition to, and not in substitution for, any other rights of the Collateral Agent and the Secured Creditors however arising or created. The Collateral Agent and the Secured Creditors are not bound to exercise any right or remedy, and the exercise
of rights and remedies is without prejudice to the rights of the Collateral Agent and the Secured Creditors in respect of the Secured Obligations including the right to claim for any deficiency. 

Section 3.5 Receiver’s Powers. 
  

	(1)	Any receiver appointed by the Collateral Agent is vested with the rights and remedies which could have been exercised by the Collateral Agent in respect of the Obligor
or the Collateral and such other powers and discretions as are granted in the instrument of appointment and any supplemental instruments. The identity of the receiver, its replacement and its remuneration are within the sole and unfettered
discretion of the Collateral Agent. 

  

	(2)	Any receiver appointed by the Collateral Agent will act as agent for the Collateral Agent for the purposes of taking possession of the Collateral, but otherwise and for
all other purposes (except as provided below), as agent for the Obligor. The receiver may sell, lease, or otherwise dispose of Collateral as agent for the Obligor or as agent for the Collateral Agent as the Collateral Agent may determine in its
discretion. The Obligor agrees to ratify and confirm all actions of the receiver acting as agent for the Obligor, and to release and indemnify the receiver in respect of all such actions. 

 

	(3)	The Collateral Agent, in appointing or refraining from appointing any receiver, does not incur liability to the receiver, the Obligor or otherwise and is not
responsible for any misconduct or negligence of such receiver. 

 Section 3.6 Appointment of Attorney. 

The Obligor hereby irrevocably constitutes and appoints the Collateral Agent (and any officer of the Collateral Agent) the true and lawful
attorney of the Obligor. As the attorney of the Obligor, the Collateral Agent has the power to exercise for and in the name of the Obligor with full power of substitution, upon the occurrence and during the continuance of an Event of Default, any of
the Obligor’s right (including the right of disposal), title and interest in and to the Collateral including the execution, endorsement, delivery and transfer of the Collateral to the Collateral Agent, its nominees or transferees, and the
Collateral Agent and its nominees or transferees are hereby empowered to exercise all rights and powers and to perform all acts of ownership with respect to the Collateral to the same extent as the Obligor might do. This power of attorney is
irrevocable, is coupled with an interest, has been given for valuable consideration (the receipt and adequacy of which is acknowledged) and survives, and does not terminate upon, the bankruptcy, dissolution, winding up or insolvency of the Obligor.
This power of attorney extends to and is binding upon the Obligor’s successors and permitted assigns. The Obligor authorizes the Collateral Agent to delegate in writing to another Person any power and authority of the Collateral Agent under
this power of attorney as may be necessary or desirable in the opinion of the Collateral Agent, and to revoke or suspend such delegation. 

 Section 3.7 Dealing with the Collateral. 

 

	(1)	The Collateral Agent and the Secured Creditors are not obliged to exhaust their recourse against the Obligor or any other Person or against any other security they may
hold in respect of the Secured Obligations before realizing upon or otherwise dealing with the Collateral in such manner as the Collateral Agent may consider desirable. 

 

	(2)	The Collateral Agent and the Secured Creditors may grant extensions or other indulgences, take and give up securities, accept compositions, grant releases and
discharges and otherwise deal with the Obligor and with other Persons, sureties or securities as they may see fit without prejudice to the Secured Obligations, the liability of the Obligor or the rights of the Collateral Agent and the Secured
Creditors in respect of the Collateral. 

  

	(3)	Except as otherwise provided by law or this Agreement, the Collateral Agent and the Secured Creditors are not (i) liable or accountable for any failure to collect,
realize or obtain payment in respect of the Collateral, (ii) bound to institute proceedings for the purpose of collecting, enforcing, realizing or obtaining payment of the Collateral or for the purpose of preserving any rights of any Persons in
respect of the Collateral, (iii) responsible for any loss occasioned by any sale or other dealing with the Collateral or by the retention of or failure to sell or otherwise deal with the Collateral, or (iv) bound to protect the Collateral
from depreciating in value or becoming worthless. 

 Section 3.8 Standards of Sale. 

Without prejudice to the ability of the Collateral Agent to dispose of the Collateral in any manner which is commercially reasonable, the
Obligor acknowledges that: 
  

	 	(a)	the Collateral may be disposed of in whole or in part; 

  

	 	(b)	the Collateral may be disposed of by public auction, public tender or private contract, with or without advertising and without any other formality;

  

	 	(c)	any assignee of such Collateral may be the Collateral Agent, a Secured Creditor or a customer of any such Person; 

 

	 	(d)	any sale conducted by the Collateral Agent will be at such time and place, on such notice and in accordance with such procedures as the Collateral Agent, in its sole
discretion, may deem advantageous; 

  

	 	(e)	the Collateral may be disposed of in any manner and on any terms necessary to avoid violation of applicable law (including compliance with such procedures as may
restrict the number of prospective bidders and purchasers, require that the prospective bidders and purchasers have certain qualifications, and restrict the prospective bidders and purchasers to Persons who will represent and agree that they are
purchasing for their own account for investment and not with a view to the distribution or resale of the Collateral) or in order to obtain any required approval of the disposition (or of the resulting purchase) by any governmental or regulatory
authority or official; 

	 	(f)	a disposition of the Collateral may be on such terms and conditions as to credit or otherwise as the Collateral Agent, in its sole discretion, may deem advantageous;
and 

  

	 	(g)	the Collateral Agent may establish an upset or reserve bid or price in respect of the Collateral. 

Section 3.9 Dealings by Third Parties. 
  

	(1)	No Person dealing with the Collateral Agent, any of the Secured Creditors or an agent or receiver is required to determine (i) whether the Security Interest has
become enforceable, (ii) whether the powers which such Person is purporting to exercise have become exercisable, (iii) whether any money remains due to the Collateral Agent or the Secured Creditors by the Obligor, (iv) the necessity
or expediency of the stipulations and conditions subject to which any sale or lease is made, (v) the propriety or regularity of any sale or other dealing by the Collateral Agent or any Secured Creditor with the Collateral, or (vi) how any
money paid to the Collateral Agent or the Secured Creditors has been applied. 

  

	(2)	Any bona fide purchaser of all or any part of the Collateral from the Collateral Agent or any receiver or agent will hold the Collateral absolutely, free from any claim
or right of whatever kind, including any equity of redemption, of the Obligor, which it specifically waives (to the fullest extent permitted by law) as against any such purchaser together with all rights of redemption, stay or appraisal which the
Obligor has or may have under any rule of law or statute now existing or hereafter adopted. 

 Section 3.10 Registration
Rights. 
  

	(1)	If the Collateral Agent determines to exercise its right to sell any or all of the Securities that are Collateral, and if in the opinion of the Collateral Agent it is
necessary or advisable to have any such Securities: 

  

	 	(a)	qualified for distribution by prospectus pursuant to the applicable securities legislation in any or all provinces and territories of Canada, the Obligor will use its
best efforts to cause the issuer thereof to (i) use its best efforts to file, and obtain a receipt from the applicable securities regulatory authorities, for a preliminary and final prospectus offering for sale such number of Securities as the
Collateral Agent directs; and (ii) execute and deliver, and cause the directors and officers of such issuer to execute and deliver, all such certificates, instruments and documents, and do or cause to be done all such other acts as may be, in
the opinion of the Collateral Agent, necessary or advisable to qualify such Securities for distribution by prospectus pursuant to the applicable securities legislation in any or all provinces of Canada; or 

	 	(b)	sold or registered under the provisions of the U.S. Securities Act of 1933, as amended, the Obligor will use its best efforts to cause the issuer thereof to
(i) execute and deliver, and cause the directors and officers of such issuer to execute and deliver, all such instruments and documents, and do or cause to be done all such other acts as may be, in the opinion of the Collateral Agent, necessary
or advisable to register the Securities pledged hereunder, or that portion thereof to be sold, under the provisions of the U.S. Securities Act of 1933, as amended, (ii) use its best efforts to cause the registration statement relating thereto
to become effective and to remain effective for a period of one year from the date of the first public offering of the Securities pledged hereunder, or that portion thereof to be sold, and (iii) make all amendments thereto and/or to the related
prospectus which, in the opinion of the Collateral Agent, are necessary or advisable, all in conformity with the requirements of the U.S. Securities Act of 1933, as amended, and the rules and regulations applicable thereto. 

 

	(2)	The Obligor agrees to use its best efforts to cause such issuer to comply with the provisions of the securities legislation in effect in any or all of the provinces of
Canada, the U.S. Securities Act of 1933, as amended, and the securities or “Blue Sky” laws of any jurisdictions outside Canada, in each case, which the Collateral Agent designates. 

ARTICLE 4 

REPRESENTATIONS, WARRANTIES AND COVENANTS 

The Obligor represents, warrants and covenants, until the Termination Date, which representations, warranties and covenants shall survive
execution and delivery of this Agreement, as follows: 
 Section 4.1 Necessary Perfection Action. 

The Security Interest granted by the Obligor to the Collateral Agent pursuant to this Agreement in and to the Collateral for the benefit
of the Collateral Agent and Secured Creditors creates a valid security interest and Lien upon the Obligor’s right, title and interest to the Collateral. The Security Interest will be duly perfected (A) upon the filing of PPSA financing
statements by the Collateral Agent in the jurisdictions set forth in Schedule “C”, (B) upon the recordation of certain security interests of issued or applied-for Patents, registered or applied-for Marks and registered or
applied-for Copyrights with CIPO (it being understood that subsequent recordings in CIPO may be necessary to perfect a Lien on Registrable Intellectual Property acquired by the Obligor after the date hereof), and (C) upon the receipt by the
Collateral Agent of all instruments, chattel paper and certificated Securities constituting Collateral, in each case to the extent that the Collateral consists of the type of property in which a security interest may be perfected by possession or by
filing a financing statement under the PPSA or other relevant law as enacted in any relevant jurisdiction. 

 Upon the actions taken under this Section 4.1, the Security Interest will be prior to
all other Liens of all other Persons (other than Permitted Liens), and enforceable as such as against all other Persons (except to the extent that the enforceability thereof may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium or other similar laws generally affecting creditors’ rights and by equitable principles (regardless of whether enforcement is sought in equity or at law)). 

Section 4.2 No Liens. 

The Obligor is, and as to all Collateral acquired by it from time to time after the date hereof the Obligor will be, the owner of, or
otherwise have the right to use, all Collateral free from any Lien of any Person (other than Permitted Liens), will not grant control over any Securities of Restricted Subsidiaries to any Person other than the Collateral Agent and the Obligor shall,
at its own expense, take all reasonable actions necessary to defend the Collateral against all claims and demands of all Persons at any time claiming the same or any interest therein adverse to the Collateral Agent. 

Section 4.3 Other Financing Statements. 

As of the date hereof, there is no financing statement (or similar statement or instrument of registration under the law of any
jurisdiction) covering or purporting to cover any interest of any kind in the Collateral (other than financing statements filed in respect of Permitted Liens), and so long as the Termination Date has not occurred, the Obligor will not authorize to
be filed in any public office any financing statement (or similar statement or instrument of registration under the law of any jurisdiction) or statements relating to the Collateral, except financing statements filed or to be filed in respect of and
covering the security interests granted hereby by the Obligor or in connection with Permitted Liens. 
 Section 4.4 Chief Executive
Office, Record Locations. 
 The chief executive office of the Obligor is, on the date of this Agreement, located at the
address indicated on Schedule “C”. During the period of the four calendar months preceding the date of this Agreement, the chief executive office of the Obligor has not been located at any address other than that indicated on
Schedule “C” in accordance with the immediately preceding sentence, in each case unless each such other address is also indicated on Schedule “C”. 

Section 4.5 Location of Inventory and Equipment. 

All inventory and equipment (having a fair market value in excess of US$250,000 with respect to Collateral comprising of equipment only)
held on the date hereof, or held at any time during the four calendar months prior to the date hereof, by the Obligor, other than inventory in transit or equipment moved in the ordinary course of business, is located at one of the locations, or in
transit to one of the locations, shown on Schedule “C”. 

 Section 4.6 Legal Names; Type of Organization; Jurisdiction of Organization; Chief Executive Office;
Changes Thereto; etc. 
 As of the Initial Borrowing Date, the exact legal name of the Obligor, the type of organization of
the Obligor and the jurisdiction of organization of the Obligor is listed on Schedule “C”. The Obligor shall not change its legal name, its type of organization, its jurisdiction of organization or its chief executive office from that
set forth on Schedule “C”, except that any such changes shall be permitted (so long as not in violation of the applicable requirements of the Credit Documents and so long as same do not involve the Obligor changing its jurisdiction of
organization or chief executive office from Canada or a Province thereof to a jurisdiction of organization or chief executive office, as the case may be, outside Canada or a Province thereof) if (i) it shall have given to the Collateral Agent
not less than 5 Business Days’ prior written notice of each change to the information listed on Schedule “C” (as adjusted for any subsequent changes thereto previously made in accordance with this sentence), together with a
supplement to Schedule “C” which shall update all information contained therein, and (ii) in connection with the respective such change or changes, it shall have taken all action reasonably requested by the Collateral Agent to
maintain the security interests of the Collateral Agent in the Collateral intended to be granted hereby at all times fully perfected and in full force and effect. 

Section 4.7 Trade Names; etc. 

The Obligor has or operates in any jurisdiction under, or in the preceding five years has had or has operated in any jurisdiction under,
no trade names, fictitious names or other names except its legal name as specified in Schedule “C” and such other trade or fictitious names as are listed on Schedule “B”. 

Section 4.8 Certain Significant Transactions. 

During the one year period preceding the date of this Agreement, no Person shall have merged or consolidated with or into the Obligor, and
no Person shall have liquidated into, or transferred all or substantially all of its assets to, the Obligor, except the mergers and consolidations contemplated by the Transaction and the mergers and consolidations described in
Schedule “C”. With respect to any transactions so described in Schedule “C”, the Obligor shall have furnished such information with respect to the Person (and the assets of the Person and locations thereof) which merged
with or into or consolidated with the Obligor, or was liquidated into or transferred all or substantially all of its assets to the Obligor, and shall have furnished to the Collateral Agent such PPSA lien searches as may have been reasonably
requested with respect to such Person and its assets, to establish that no security interest (excluding Permitted Liens) continues perfected on the date hereof with respect to any Person described above (or the assets transferred to the Obligor by
such Person). 
 Section 4.9 Unextracted Collateral; Timber-Until-it-is-Cut. 

On the date hereof, the Obligor does not own, or expect to acquire, any property which constitutes, or would constitute, unextracted
minerals or hydrocarbons or uncut timber. If at any time after the date of this Agreement the Obligor owns, acquires or obtains rights to any unextracted minerals or hydrocarbons or uncut timber, the Obligor shall concurrently with the delivery of
the next Compliance Certificate provided under the Credit Agreement thereafter furnish the Collateral Agent with written notice thereof (which notice shall describe in reasonable detail the unextracted minerals or hydrocarbons or uncut timber and
the locations thereof) and shall take all actions as may be deemed reasonably necessary or desirable by the Collateral Agent to perfect the security interest of the Collateral Agent therein. 

 Section 4.10 Collateral in the Possession of a Bailee. 

If any inventory or other goods of the Obligor, the aggregate fair market value of which is equal to or greater than $500,000, are at any
time in the possession of a bailee (other than the Collateral Agent), the Obligor shall concurrently with the delivery of the next Compliance Certificate provided under the Credit Agreement thereafter furnish the Collateral Agent with written notice
thereof and, if requested by the Collateral Agent, shall use its reasonable efforts to promptly obtain an acknowledgment from such bailee, in form and substance reasonably satisfactory to the Collateral Agent, that the bailee holds such Collateral
for the benefit of the Collateral Agent and shall act upon the instructions of the Collateral Agent, without the further consent of the Obligor. The Collateral Agent agrees with the Obligor that the Collateral Agent shall not give any such
instructions unless an Event of Default has occurred and is continuing. 
 Section 4.11 Recourse. 

This Agreement is made with full recourse to the Obligor and pursuant to and upon all the warranties, representations, covenants and
agreements on the part of the Obligor contained herein, in the other Credit Documents to which it is a party and otherwise in writing in connection herewith or therewith. 

ARTICLE 5 

SPECIAL PROVISIONS CONCERNING ACCOUNTS; CONTRACT RIGHTS;

INSTRUMENTS; CHATTEL PAPER AND CERTAIN OTHER COLLATERAL 

Section 5.1 Maintenance of Records. 

The Obligor will keep and maintain proper books and records of its Accounts and Contracts, in which full, true and correct entries in
conformity with generally accepted accounting principles and all Requirements of Law shall be made of all such Accounts and Contracts, and the Obligor will make the same available on the Obligor’s premises to officers and designated
representatives of the Collateral Agent for inspection in accordance with the terms and conditions set forth in the Credit Agreement. Upon the occurrence and during the continuance of an Event of Default and at the request of the Collateral Agent,
the Obligor shall, at its own cost and expense, deliver all tangible evidence of its Accounts and Contract Rights (including, without limitation, all documents evidencing the Accounts and all Contracts) and such books and records to the Collateral
Agent or to its representatives (copies of which evidence and books and records may be retained by the Obligor). Upon the occurrence and during the continuance of an Event of Default, if the Collateral Agent so requests, the Obligor shall legend, in
form and manner satisfactory to the Collateral Agent, the Accounts and the Contracts, as well as books, records and documents (if any) of the Obligor evidencing or pertaining to such Accounts and Contracts with an appropriate reference to the fact
that such Accounts and Contracts have been assigned to the Collateral Agent and that the Collateral Agent has a security interest therein. 

 Section 5.2 Direction to Account Debtors; Contracting Parties; etc. 

Upon the occurrence and during the continuance of an Event of Default, after giving notice to the Obligor of its intent to do so, if the
Collateral Agent so directs the Obligor, the Obligor agrees (x) to cause all payments on account of the Accounts and Contracts to be made directly to the Cash Collateral Account, (y) that the Collateral Agent may, at its option, directly
notify the obligors in its own name or in the name of others with respect to any Accounts and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x), and (z) that the Collateral Agent may enforce
collection of any such Accounts and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent as the Obligor; provided that, (x) any failure by the Collateral Agent to give or any
delay in giving such notice to the Obligor shall not affect the effectiveness of such notice or the other rights of the Collateral Agent created by this Section 5.2 and (y) no such notice shall be required if an Event of Default of the
type described in Section 11.05 of the Credit Agreement has occurred and is continuing. Without notice to or assent by the Obligor, the Collateral Agent may, upon the occurrence and during the continuance of an Event of Default, apply any or
all amounts then in, or thereafter deposited in, the Cash Collateral Account toward the payment of the Obligations in the manner provided in Section 10.10 of this Agreement. The reasonable costs and expenses of collection (including reasonable
legal fees), whether incurred by the Obligor or the Collateral Agent, shall be borne by the Obligor. The Collateral Agent shall deliver a copy of each notice referred to in the preceding clause (y) to the Obligor, provided that (x) the
failure by the Collateral Agent to so notify the Obligor shall not affect the effectiveness of such notice or the other rights of the Collateral Agent created by this Section 5.2 and (y) no such notice shall be required if an Event of
Default of the type described in Section 11.05 of the Credit Agreement has occurred and is continuing. 
 Section 5.3 Modification
of Terms; etc. 
 Except in accordance with the Obligor’s ordinary course of business and consistent with reasonable
business judgment or as permitted by Section 5.4, the Obligor shall not rescind or cancel any indebtedness evidenced by any Account, or modify any material term thereof or make any material adjustment with respect thereto, or extend or renew
the same, or compromise or settle any material dispute, claim, suit or legal proceeding relating thereto, or sell any Account, or interest therein without the prior written consent of the Collateral Agent unless such rescissions, cancellations,
modifications, adjustments, extensions, renewals, compromises, settlements, releases or sales would not reasonably be expected to materially adversely affect the value of the Accounts constituting Collateral taken as a whole. Except as otherwise
permitted by the Credit Documents, the Obligor will not do anything to impair the rights of the Collateral Agent in the Accounts or Contracts. 

 Section 5.4 Collection. 

The Obligor shall endeavor in accordance with historical business practices to cause to be collected from the account debtor named in each
of its Accounts or obligor under any Contract, as and when due (including, without limitation, amounts which are delinquent, such amounts to be collected in accordance with generally accepted lawful collection procedures) any and all amounts owing
under or on account of such Account or Contract, and apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such Account or under such Contract. Except as otherwise directed by the Collateral Agent
after the occurrence and during the continuation of an Event of Default, the Obligor may allow in the ordinary course of business as adjustments to amounts owing under its Accounts and Contracts (i) an extension or renewal of the time or times
of payment, or settlement for less than the total unpaid balance, which the Obligor finds appropriate in accordance with reasonable business judgment, (ii) a refund or credit due as a result of returned or damaged merchandise or improperly
performed services or for other reasons which the Obligor finds appropriate in accordance with reasonable business judgment and (iii) any other adjustments necessary or desirable in the Obligor’s reasonable business judgment. The
reasonable costs and expenses (including, without limitation, reasonable legal fees) of collection, whether incurred by the Obligor or the Collateral Agent, shall be borne by the Obligor. 

Section 5.5 Investment Property and Instruments. 
  

	(1)	Schedule “A” lists all Securities and Instruments owned or held by the Obligor and all securities accounts of the Obligor on the date of this Agreement.
Schedule “A” sets out, for each class of Securities listed in the schedule, the percentage amount that such Securities represent of all issued and outstanding Securities of that class and whether the Securities are certificated
securities or uncertificated securities. 

  

	(2)	Except as described in Schedule “A”, no transfer restrictions apply to the Securities and Instruments listed in Schedule “A”. The Obligor
has delivered to the Collateral Agent copies of all shareholder, partnership or trust agreements applicable to each issuer that is a Subsidiary of the Obligor of such Securities and Instruments which are in the Obligor’s possession and confirms
that any interest in a partnership or limited liability company that now, or at any time, forms part of the Collateral is, and will be, a “security” for the purposes of the STA. 

 

	(3)	The Obligor will promptly notify the Collateral Agent upon becoming aware of any change in an “issuer’s jurisdiction” in respect of any uncertificated
Securities that are Collateral or any change in a “securities intermediary’s jurisdiction” in respect of any security entitlements, financial assets or securities accounts that are Collateral. 

 

	(4)	The Obligor will not, after the date of this Agreement, establish and maintain any securities accounts with any securities intermediary unless (1) it gives the
Collateral Agent 30 days’ prior written notice of its intention to establish such new securities account, (2) such securities intermediary is reasonably acceptable to the Collateral Agent, and (3) the securities intermediary and the
Obligor (i) execute and deliver a control agreement with respect to such securities account that is in form and substance, satisfactory to the Collateral Agent, or (ii) transfer the financial assets in such securities account into a
securities account in the name of the Collateral Agent. 

	(5)	If the Obligor owns or acquires any Instrument constituting Collateral with a face value in excess of US$500,000 individually (other than checks and other payment
instruments received and collected in the ordinary course of business), the Obligor will concurrently with the delivery of the next Compliance Certificate provided under the Credit Agreement thereafter notify the Collateral Agent thereof, and upon
request by the Collateral Agent will promptly deliver such Instrument to the Collateral Agent appropriately endorsed to the order of the Collateral Agent, provided that, so long as no Event of Default shall have occurred and be continuing, the
Obligor may retain for collection in the ordinary course of business any Instrument received by the Obligor in the ordinary course of business, and the Collateral Agent shall, promptly upon request of the Obligor, make appropriate arrangements for
making any Instruments in its possession and pledged by the Obligor available to the Obligor for purposes of presentation, collection or renewal. If the Obligor retains possession of any Instruments pursuant to the terms hereof, upon request of the
Collateral Agent, such Instrument shall be marked with the following legend: “This writing and the obligations evidenced or secured hereby are subject to the security interests of Deutsche Bank Trust Company Americas, as collateral agent, for
the benefit of itself and certain Lenders”. 

 Section 5.6 Obligor Remains Liable Under Accounts. 

Anything herein to the contrary notwithstanding, the Obligor shall remain liable under each of the Accounts to observe and perform all of
the conditions and obligations to be observed and performed by it thereunder, all in accordance with the terms of any agreement giving rise to such Accounts. Neither the Collateral Agent nor any other Secured Creditor shall have any obligation or
liability under any Account (or any agreement giving rise thereto) by reason of or arising out of this Agreement or the receipt by the Collateral Agent or any other Secured Creditor of any payment relating to such Account pursuant hereto, nor shall
the Collateral Agent or any other Secured Creditor be obligated in any manner to perform any of the obligations of the Obligor under or pursuant to any Account (or any agreement giving rise thereto), to make any payment, to make any inquiry as to
the nature or the sufficiency of any payment received by them or as to the sufficiency of any performance by any party under any Account (or any agreement giving rise thereto), to present or file any claim, to take any action to enforce any
performance or to collect the payment of any amounts which may have been assigned to them or to which they may be entitled at any time or times. 

Section 5.7 Obligor Remains Liable Under Contracts. 

Anything herein to the contrary notwithstanding, the Obligor shall remain liable under each of the Contracts to observe and perform all of
the conditions and obligations to be observed and performed by them thereunder, all in accordance with and pursuant to the terms and provisions of each Contract. Neither the Collateral Agent nor any other Secured Creditor shall have any obligation
or liability under any Contract by reason of or arising out of this Agreement or the receipt by the Collateral Agent or any other Secured Creditor of any payment relating to such Contract pursuant hereto, nor shall the Collateral Agent or any other
Secured Creditor be obligated in any manner to perform any of the obligations of the Obligor under or pursuant to any Contract, to make any payment, to make any inquiry as to the nature or the sufficiency of any performance by any party under any
Contract, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to them or to which they may be entitled at any time or times. 

 Section 5.8 Deposit Accounts; etc. 

The Obligor does not maintain, or at any time after the date of this Agreement shall not establish or maintain, any demand, time, savings,
passbook or similar account, except for such accounts maintained with a bank whose jurisdiction is within a Province of Canada. Schedule “E” accurately sets forth, as of the date of this Agreement, each Deposit Account maintained by
the Obligor (including a description thereof and the respective account number), the name of the respective bank with which such Deposit Account is maintained, and the jurisdiction of the respective bank with respect to such Deposit Account.

 Section 5.9 Letter-of-Credit Rights. 

If the Obligor is at any time a beneficiary under a letter of credit with a stated amount of $1,000,000 or more, the Obligor shall, on or
prior to the date of the required delivery of the Compliance Certificate pursuant to the Credit Agreement following the creation of such letter of credit, notify the Collateral Agent thereof and, at the request of the Collateral Agent, the Obligor
shall, pursuant to an agreement in form and substance reasonably satisfactory to the Collateral Agent, use its reasonable best efforts to (i) arrange for the issuer and any confirmer of such letter of credit to consent to an assignment to the
Collateral Agent of the proceeds of any drawing under such letter of credit or (ii) arrange for the Collateral Agent to become the transferee beneficiary of such letter of credit, with the Collateral Agent agreeing, in each case, that the
proceeds of any drawing under the letter of credit are to be applied as provided in this Agreement after the occurrence and during the continuance of an Event of Default (it being understood that unless an Event of Default has occurred and is
continuing such proceeds shall be released to the Obligor). 
 Section 5.10 Chattel Paper. 

The Obligor will promptly (and in any event within 10 days) following any reasonable request by the Collateral Agent, deliver all of its
tangible chattel paper with a value in excess of US$500,000 to the Collateral Agent, provided that, so long as no Event of Default shall have occurred and be continuing, the Obligor may retain for collection in the ordinary course of business any
chattel paper received by the Obligor in the ordinary course of business, and the Collateral Agent shall, promptly upon request of the Obligor, make appropriate arrangements for making any chattel paper in its possession and pledged by the Obligor
available to the Obligor for purposes of presentation, collection or renewal. If the Obligor retains possession of any chattel paper pursuant to the terms hereof, upon the request of the Collateral Agent, such chattel paper shall be marked with the
following legend: “This writing and the obligations evidenced or secured hereby are subject to the security interests of Deutsche Bank Trust Company Americas, as collateral agent, for the benefit of itself and certain Lenders”. 

Section 5.11 Further Actions. 

The Obligor will, at its own expense, make, execute, endorse, acknowledge, file and/or deliver to the Collateral Agent from time to time
such vouchers, invoices, schedules, confirmatory assignments, conveyances, financing statements, transfer endorsements, certificates, reports and other assurances or instruments and take such further steps, including any and all actions as may be
necessary or required, relating to its Accounts, Contracts, Instruments and other property or rights which constitute Collateral, as the Collateral Agent may reasonably require for the purpose of obtaining or preserving the full benefits of the
security interests, rights and powers herein granted. 

 ARTICLE 6 

SPECIAL PROVISIONS CONCERNING TRADEMARKS AND DOMAIN NAMES 

Section 6.1 Additional Representations and Warranties. 

The Obligor represents and warrants that it is the owner of all right, title and interest in and to the registered Marks and Domain Names
listed in Schedule “B” and that said listed Marks and Domain Names include all Canadian marks and applications for Canadian marks registered, filed or pending in CIPO and all Domain Names, that the Obligor owns. The Obligor represents
and warrants that it owns all Marks and Domain Names listed in Schedule “B”. The Obligor further warrants that it has no knowledge of any third party claim received by it within the last twelve (12) months that any aspect of the
Obligor’s present business operations infringes any trademark, service mark or trade name of any other Person other than as has not, and would not, reasonably be expected to have, either individually or in the aggregate, a Material Adverse
Effect. The Obligor represents and warrants that all Canadian trademark registrations and applications and Domain Name registrations listed in Schedule “B” are valid, subsisting, have not been cancelled or opposed and that the Obligor
is not aware of any third-party claim that any of said registrations is invalid or unenforceable, and is not aware that there is any reason that any of said registrations is invalid or unenforceable, and is not aware that there is any reason that
any of said applications will not mature into registrations. The Obligor hereby grants to the Collateral Agent an absolute power of attorney to sign, solely upon the occurrence and during the continuance of an Event of Default, any document which
may be required by CIPO or similar registrar in order to effect an absolute assignment of all right, title and interest in each Mark and/or Domain Name listed in Schedule “B”, and record the same. 

Section 6.2 Licenses and Assignments. 

Except as otherwise permitted by the Credit Documents, the Obligor hereby agrees not to divest itself of any right under any material Mark
or material Domain Name absent prior written approval of the Collateral Agent. 
 Section 6.3 Infringements. 

The Obligor agrees, promptly upon learning thereof, to notify the Collateral Agent in writing of the name and address of, and to furnish
such pertinent information that may be available to the Obligor with respect to, any party who the Obligor reasonably believes is infringing or diluting or otherwise violating any of the Obligor’s rights in and to any Mark or Domain Name in any
manner that could reasonably be expected to have a Material Adverse Effect, or with respect to any party claiming that the Obligor’s use of any Mark or Domain Name material to the Obligor’s business violates in any material respect any
intellectual property right of that party. The Obligor further agrees to prosecute diligently in accordance with its reasonable business judgment any Person infringing any Mark or Domain Name owned by it in any manner that could reasonably be
expected to have a Material Adverse Effect. 

 Section 6.4 Preservation of Marks and Domain Names. 

The Obligor agrees to use its Marks and Domain Names that are material to its business during the time in which this Agreement is in
effect to the extent required by the laws of Canada to maintain its rights in such Mark or Domain Name and to take all such other actions as are reasonably necessary to preserve such Marks as trademarks or service marks under the laws of Canada
(other than any such Marks or Domain Names that are no longer used or useful in its business or operations). 
 Section 6.5 Maintenance
of Registration. 
 The Obligor shall, at its own expense, diligently process all documents reasonably required to maintain
all Mark and/or Domain Name registrations, including but not limited to affidavits of use and applications for renewals of registration in CIPO for all of its material registered Marks, and shall pay all fees and disbursements in connection
therewith and shall not abandon any such filing of affidavit of use or any such application of renewal prior to the exhaustion of all administrative and judicial remedies without prior written consent of the Collateral Agent such consent not to be
unreasonably withheld or delayed (other than with respect to registrations and applications deemed by the Obligor in its reasonable business judgment to be no longer prudent to pursue). 

Section 6.6 Future Registered Marks and Domain Names. 

If any Mark registration is issued hereafter to the Obligor as a result of any application now or hereafter pending before CIPO or any
Domain Name is registered by the Obligor, within 60 days of receipt of such certificate or similar indicia of ownership, the Obligor shall deliver to the Collateral Agent a copy of such registration certificate or similar indicia of ownership with a
Confirmation of Security Interest in the form of Schedule “D” in respect of such Mark and/or Domain Name confirming the assignment for security of such Mark and/or Domain Name and immediately make all such filings, registrations and
recordings as are necessary or appropriate to perfect the Security Interest granted to the Collateral Agent in the Mark and/or Domain Name. 

Section 6.7 Remedies. 

If an Event of Default shall occur and be continuing, the Collateral Agent may, by written notice to the Obligor, take any or all of the
following actions: (i) declare the entire right, title and interest of the Obligor in and to each of the Marks and Domain Names, together with all trademark rights and rights of protection to the same, vested in the Collateral Agent for the
benefit of the Secured Creditors, in which event such right, title and interest shall immediately vest, in the Collateral Agent for the benefit of the Secured Creditors, and the Collateral Agent shall be entitled to exercise the power of attorney
referred to in Section 3.6 hereof to execute, cause to be acknowledged and notarized and record said absolute assignment with the applicable agency or registrar; (ii) take and use or sell the Marks or Domain Names and the goodwill of the
Obligor’s business symbolized by the Marks or Domain Names and the right to carry on the business and use the assets of the Obligor in connection with which the Marks or Domain Names have been used (provided that any license shall be subject to
reasonably quality control); and (iii) direct the Obligor to refrain, in which event the Obligor shall refrain, from using the Marks or Domain Names in any manner whatsoever, directly or indirectly, and the Obligor shall execute such further
documents that the Collateral Agent may reasonably request to further confirm this and to transfer ownership of the Marks or Domain Names owned by it and registrations and any pending trademark applications in the Canadian Intellectual Property
Office or applicable Domain Name registrar therefor to the Collateral Agent. 

 ARTICLE 7 

SPECIAL PROVISIONS CONCERNING PATENTS, COPYRIGHTS AND TRADE SECRETS 

Section 7.1 Additional Representations and Warranties. 

The Obligor represents and warrants that it is the owner of all rights in (i) all Trade Secret Rights, (ii) the Patents listed
in Schedule “B” and that said Patents include all the Canadian patents and pending applications for Canadian patents that the Obligor owns or purports to own as of the date hereof and (iii) the Copyrights listed in
Schedule “B” for and that said Copyrights include all the Canadian copyrights registered with CIPO and applications to Canadian copyrights that the Obligor owns or purports to own as of the date hereof. The Obligor further warrants
and that it has no knowledge of any third party claim received by it within the past twelve (12) months that any aspect of the Obligor’s present business operations infringes any patent or copyright of any other Person or the Obligor has
misappropriated any Trade Secret or proprietary information which, in either of the foregoing cases either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. The Obligor hereby grants to the Collateral
Agent an absolute power of attorney to sign, solely upon the occurrence and during the continuance of any Event of Default, any document which may be required by CIPO in order to effect an absolute assignment of all right, title and interest in each
Patent or Copyright listed in Schedule “B”, or any other issued or applied-for Canadian patent or registered and applied-for Canadian copyright hereinafter owned by the Obligor, and to record the same. 

Section 7.2 Licenses and Assignments. 

Except as otherwise permitted by the Credit Documents, the Obligor hereby agrees not to divest itself of any right under any material
Patent or material Copyright absent prior written approval of the Collateral Agent. 
 Section 7.3 Infringements. 

The Obligor agrees, promptly upon learning thereof, to furnish the Collateral Agent in writing with all pertinent information available to
the Obligor with respect to any infringement, contributing infringement or active inducement to infringe or other violation of the Obligor’s rights in any Patent or Copyright or to any written claim received by the Obligor that the practice of
any Patent or use of any Copyright by the Obligor violates any intellectual property right of a third party, or with respect to any misappropriation of any Trade Secret Right by the Obligor or any written claim received by the Obligor that practice
of any Trade Secret Right by the Obligor violates any intellectual property right of a third party, in each case, in any manner which, either individually or in the aggregate, has, or would reasonably be expected to have a Material Adverse Effect.
The Obligor further agrees, absent direction of the Collateral Agent to the contrary, to diligently prosecute, in accordance with its reasonable business judgment, any Person infringing any Patent owned by it or Copyright or any Person
misappropriating any Trade Secret Right, in each case to the extent that such infringement or misappropriation, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. 

 Section 7.4 Maintenance of Patents or Copyrights. 

At its own expense, the Obligor shall make timely payment of all post-issuance fees required to maintain in force its rights under each
issued Patent or registered Copyright, absent prior written consent of the Collateral Agent (other than any such Patents or Copyrights that are no longer used or are deemed by the Obligor in its reasonable business judgment to no longer be necessary
or useful in its business or operations). 
 Section 7.5 Prosecution of Patent or Copyright Applications. 

At its own expense, the Obligor shall diligently prosecute all material applications for (i) Canadian Patents listed in
Schedule “B” and (ii) Copyrights listed on Schedule “B” , in each case for the Obligor and shall not abandon any such application prior to exhaustion of all administrative and judicial remedies (other than
applications that are deemed by the Obligor in its reasonable business judgment to no longer be necessary in the conduct of the Obligor’s business), absent written consent of the Collateral Agent not to be unreasonably withheld. 

Section 7.6 Other Patents and Copyrights. 

Within 30 days of acquisition or issuance of a Patent, registration of a Copyright, acquisition of a Copyright, or a filing of an
application for a Patent or Copyright, as the case may be, the Obligor shall deliver to the Collateral Agent a copy of said Copyright or Patent, or certificate or registration of, or application therefor, as the case may be with a Confirmation of
Security Interest in the form of Schedule “D” in respect of such Patent or Copyright confirming the assignment for security of such Patent or Copyright and immediately make all such filings, registrations and recordings as are
necessary or appropriate to perfect the Security Interest granted to the Collateral Agent in the Patent or Copyright. 
 Section 7.7
Remedies. 
 If an Event of Default shall occur and be continuing, the Collateral Agent may, by written notice to the
Obligor, take any or all of the following actions: (i) declare the entire right, title, and interest of the Obligor in each of the Patents, Copyrights and Trade Secret Rights vested in the Collateral Agent for the benefit of the Secured
Creditors, in which event such right, title, and interest shall immediately vest in the Collateral Agent for the benefit of the Secured Creditors, and the Collateral Agent shall be entitled to exercise the power of attorney referred to in
Section 3.6 to execute, cause to be acknowledged and notarized and to record said absolute assignment with the applicable agency; (ii) take and practice or sell the Patents, Copyrights and Trade Secrets, in each case, owned by the Obligor,
and exercise any other rights vested in the Patents, Copyrights and Trade Secrets pursuant to Section 7.7(i) above; and (iii) direct the Obligor to refrain, in which event the Obligor shall refrain, from practicing the Patents and using
the Copyrights and the Trade Secrets directly or indirectly, and the Obligor shall execute such further documents as the Collateral Agent may reasonably request further to confirm this and to transfer ownership of the Patents, Copyrights and Trade
Secrets, in each case owned by it, to the Collateral Agent for the benefit of the Secured Creditors. 

 ARTICLE 8 

PROVISIONS CONCERNING ALL COLLATERAL 

Section 8.1 Protection of Collateral Agent’s Security. 

Except as otherwise permitted by the Credit Documents, the Obligor will do nothing to impair the rights of the Collateral Agent in the
Collateral. The Obligor will at all times maintain insurance, at the Obligor’s own expense to the extent and in the manner provided in the Credit Documents. If any Event of Default shall have occurred and be continuing, the Collateral Agent
shall, at the time any proceeds of such insurance are distributed to the Secured Creditors, apply such proceeds in accordance with Section 10.10. The Obligor assumes all liability and responsibility in connection with the Collateral acquired by
it and the liability of the Obligor to pay the Obligations shall in no way be affected or diminished by reason of the fact that such Collateral may be lost, destroyed, stolen, damaged or for any reason whatsoever unavailable to the Obligor.

 Section 8.2 Warehouse Receipts Non-Negotiable. 

To the extent practicable, the Obligor agrees that if any warehouse receipt or receipt in the nature of a warehouse receipt is issued with
respect to any of its inventory, the Obligor shall request that such warehouse receipt or receipt in the nature thereof shall not be negotiable. 

Section 8.3 Additional Information. 

The Obligor will, at its own expense, from time to time upon the reasonable request of the Collateral Agent, promptly furnish to the
Collateral Agent such information with respect to the Collateral (including the identity of the Collateral or such components thereof as may have been reasonably requested by the Collateral Agent, the value and location of such Collateral, etc.) as
may be requested by the Collateral Agent. Without limiting the forgoing, the Obligor agrees that it shall promptly furnish to the Collateral Agent such updated Schedules as may from time to time be reasonably requested by the Collateral Agent.

 Section 8.4 Further Actions. 

The Obligor will, at its own expense and upon the reasonable request of the Collateral Agent, make, execute, endorse, acknowledge, file
and/or deliver to the Collateral Agent from time to time such lists, descriptions and designations of its Collateral, warehouse receipts, receipts in the nature of warehouse receipts, bills of lading, documents of title, vouchers, invoices,
schedules, confirmatory assignments, conveyances, financing statements, transfer endorsements, certificates, reports and other assurances or instruments and take such further steps relating to the Collateral and other property or rights covered by
the security interest hereby granted, which the Collateral Agent deems reasonably appropriate or advisable to perfect, preserve or protect its security interest in the Collateral at least to the extent described in Section 4.1. 

 Section 8.5 Financing Statements and Perfection. 

 

	(1)	The Obligor agrees to deliver to the Collateral Agent such financing statements, in form reasonably acceptable to the Collateral Agent, as the Collateral Agent may from
time to time reasonably request to establish and maintain a valid, enforceable, perfected security interest in the Collateral as provided herein and for the purpose of obtaining and preserving the full benefits of the other rights and security
contemplated hereby at least to the extent described in Section 4.1. The Obligor will pay any applicable filing fees, recordation taxes and related expenses relating to its Collateral. The Obligor hereby authorizes the Collateral Agent to file
any such financing statements without the signature of the Obligor where permitted by law (and such authorization includes describing the Collateral as Inventory, Equipment, Accounts, Other and Motor Vehicles Included or all of the present and
after-acquired personal property of the Obligor, as applicable in such jurisdiction). 

  

	(2)	Without limiting the rights of the Collateral Agent hereunder, the Obligor hereby agrees that, following any reasonable request by the Collateral Agent to do so, the
Obligor will take such actions (including without limitation, the making of any filings and the delivery of appropriate legal opinions) under the local laws of British Columbia and Manitoba with respect to which such actions have not already been
taken as are determined by the Collateral Agent to be necessary or, in the reasonable opinion of the Collateral Agent, advisable in order to fully perfect, preserve or protect the security interests granted herein under the laws of such
jurisdictions. 

  

	(3)	The Obligor will take such actions as are necessary to perfect the security interests in the Collateral in the province of Quebec by executing Quebec Security only at
such time as the fair market value of the tangible or intangible personal or real property of the Obligor that is located in Quebec exceeds in the aggregate $5,000,000. 

ARTICLE 9 

INDEMNITY 

Section 9.1 Indemnity. 
  

	(1)	The Obligor agrees to indemnify, reimburse and hold harmless the Collateral Agent, each other Secured Creditor and their respective successors, assigns, officers,
directors, employees, representative, agents, affiliates, trustees and investment advisors (hereinafter in this Section 9.1(1) referred to individually as “Indemnitee”, and collectively as “Indemnitees”) from
and against any and all liabilities, obligations (including removal and remedial actions), losses, damages, penalties, claims, actions, judgments, suits and any and all costs, expenses or disbursements (including reasonable legal fees and expenses
but excluding Taxes that are governed exclusively by Sections 2.10, 3.06 and 5.04 of the Credit Agreement) (for the purposes of this Section 9.1(1) the foregoing are collectively called “Indemnified Liabilities”) of whatsoever
kind and nature imposed on, asserted against or incurred by any of the Indemnitees in any way relating to or arising out of this Agreement, any other Credit Documents or any other document executed in connection herewith or therewith or in any other
way connected with the administration of the transactions contemplated hereby or thereby or the enforcement of any of the terms of, or the preservation of any rights under any thereof, or in any way relating to or arising out of the manufacture,
ownership, ordering, purchase, delivery, control, acceptance, lease, financing, possession, operation, condition, sale, return or other disposition, or use of the Collateral (including, without limitation, latent or other defects, whether or not
discoverable), the violation of the laws of any country, state or other governmental body or unit, any tort (including, without limitation, claims arising or imposed under the doctrine of strict liability, or for or on account of injury to or the
death of any Person (including any Indemnitee), or property damage), or contract claim; provided that no Indemnitee shall be indemnified pursuant to this Section 9.1(1) for Indemnified Liabilities to the extent caused by reason of (x) the
gross negligence or willful misconduct of such Indemnitee, any Affiliate of such Indemnitee, or any of their respective directors, officers, employees, representatives, agents, Affiliates, trustees or investment advisors or (y) any material
breach of the obligations of such Indemnitee under this Agreement (in the case of each of preceding clauses (x) and (y), as determined by a court of competent jurisdiction in a final and non-appealable decision). The Obligor agrees that upon
written notice by any Indemnitee of the assertion of such Indemnified Liabilities, the Obligor shall assume full responsibility for the defense thereof. Each Indemnitee agrees to use its best efforts to promptly notify the Obligor of any such
assertion of which such Indemnitee has knowledge. 

	(2)	Without limiting the application of Section 9.1(1), the Obligor agrees to pay or reimburse the Collateral Agent for any and all reasonable documented out-of-pocket
fees, costs and expenses of whatever kind or nature incurred in connection with the creation, preservation or protection of the Collateral Agent’s Liens on, and security interest in, the Collateral, including all fees and taxes in connection
with the recording or filing of instruments and documents in public offices, payment or discharge of any taxes or Liens upon or in respect of the Collateral, premiums for insurance with respect to the Collateral and all other fees, costs and
expenses in connection with protecting, maintaining or preserving the Collateral and the Collateral Agent’s interest therein, whether through judicial proceedings or otherwise, or in defending or prosecuting any actions, suits or proceedings
arising out of or relating to the Collateral. 

  

	(3)	Without limiting the application of Section 9.1(1) and Section 9.1(2), the Obligor agrees to pay, indemnify and hold each Indemnitee harmless from and against
any loss, costs, damages and expenses which such Indemnitee may suffer, expend or incur in consequence of or growing out of any misrepresentation by the Obligor in this Agreement, any other Credit Document or in any writing contemplated by or made
or delivered pursuant to or in connection with this Agreement or any other Credit Document. 

	(4)	If and to the extent that the obligations of the Obligor under this Section 9.1 are unenforceable for any reason, the Obligor hereby agrees to make the maximum
contribution to the payment and satisfaction of such obligations which is permissible under applicable law. 

 Section 9.2
Indemnity Obligations Secured by Collateral; Survival. 
 Any amounts paid by any Indemnitee as to which such Indemnitee has
the right to reimbursement shall constitute Obligations secured by the Collateral. The indemnity obligations of the Obligor contained in this Article 9 shall continue in full force and effect notwithstanding the full payment of all of the other
Obligations and notwithstanding the full payment of all of the Notes issued, and Loans made, under the Credit Agreement, the termination of all Letters of Credit issued under the Credit Agreement, the termination of all Interest Rate Protection
Agreements and Other Hedging Agreements entered into with the Other Creditors and the payment of all other Obligations and notwithstanding the discharge thereof and the occurrence of the Termination Date. 

ARTICLE 10 

GENERAL 

Section 10.1 Notices. 

Any notices, directions or other communications provided for in this Agreement must be in writing and given in accordance with the Credit
Agreement. 
 Section 10.2 The Collateral Agent and the other Secured Creditors. 

The Collateral Agent will hold in accordance with this Agreement all items of the Collateral at any time received under this Agreement. It
is expressly understood and agreed that the obligations of the Collateral Agent as holder of the Collateral and interests therein and with respect to the disposition thereof, and otherwise under this Agreement, are only those expressly set forth in
this Agreement and in Section 12 of the Credit Agreement. The Collateral Agent shall act hereunder on the terms and conditions set forth in Section 12 of the Credit Agreement. 

Section 10.3 No Merger, Survival of Representations and Warranties. 

This Agreement does not operate by way of merger of any of the Secured Obligations and no judgment recovered by the Collateral Agent or
any of the Secured Creditors will operate by way of merger of, or in any way affect, the Security Interest, which is in addition to, and not in substitution for, any other security now or hereafter held by the Collateral Agent and the Secured
Creditors in respect of the Secured Obligations. The representations, warranties and covenants of the Obligor in this Agreement survive the execution and delivery of this Agreement and any advances under the Credit Agreement. Notwithstanding any
investigation made by or on behalf of the Collateral Agent or the Secured Creditors these covenants, representations and warranties continue in full force and effect. 

 Section 10.4 Further Assurances. 

The Obligor will do all acts and things and execute and deliver, or cause to be executed and delivered, all agreements, documents and
instruments that the Collateral Agent may require and take all further steps relating to the Collateral or any other property or assets of the Obligor that the Collateral Agent may require for (i) protecting the Collateral,
(ii) perfecting, preserving and protecting the Security Interest, and (iii) exercising all powers, authorities and discretions conferred upon the Collateral Agent. After the Security Interest becomes enforceable, the Obligor will do all
acts and things and execute and deliver all documents and instruments that the Collateral Agent may require for facilitating the sale or other disposition of the Collateral in connection with its realization. 

Section 10.5 Supplemental Security. 

This Agreement is in addition to, without prejudice to and supplemental to all other security now held or which may hereafter be held by
the Collateral Agent or the Secured Creditors. 
 Section 10.6 Successors and Assigns. 

This Agreement shall create a continuing security interest in the Collateral and shall (i) remain in full force and effect, subject
to release and/or termination as set forth in Section 10.9, (ii) be binding upon the Obligor, its successors and assigns; provided, however, that the Obligor shall not assign any of its rights or obligations hereunder without the prior
written consent of the Collateral Agent (with the prior written consent of the Required Secured Creditors), and (iii) inure, together with the rights and remedies of the Collateral Agent hereunder, to the benefit of the Collateral Agent, the
other Secured Creditors and their respective successors, transferees and permitted assigns. All agreements, statements, representations and warranties made by the Obligor herein or in any certificate or other instrument delivered by the Obligor or
on its behalf under this Agreement shall be considered to have been relied upon by the Secured Creditors and shall survive the execution and delivery of this Agreement and the other Credit Documents to which the Obligor is a party regardless of any
investigation made by the Secured Creditors or on their behalf. 
 Section 10.7 Severability. 

Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to
the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other
jurisdiction. 
 Section 10.8 Amendment and Waiver. 

Except as provided in Section 10.9, none of the terms and conditions of this Agreement may be changed, waived, modified or varied in
any manner whatsoever unless in writing duly signed by the Obligor (or, to the extent any other Security Document requires waivers or amendments thereunder to occur in accordance with the provisions of this Agreement, the pledgor, transferor,
mortgagor under such other Security Document) and the Collateral Agent (with the written consent of the Required Secured Creditors). 

 Section 10.9 Termination; Release. 

 

	(1)	After the Termination Date, this Agreement shall terminate, all without delivery of any instrument or performance of any act by any party, and all rights to the
Collateral shall revert to the Obligor (provided that all indemnities set forth herein including, without limitation, in Section 9.1 hereof, shall survive termination) and the Collateral Agent, at the request and expense of the Obligor, will
promptly execute and deliver to the Obligor a proper instrument or instruments (including PPSA discharge statements) acknowledging the satisfaction and termination of this Agreement, and will duly assign, transfer and deliver to the Obligor (without
recourse and without any representation or warranty) such of the Collateral as may be in the possession of the Collateral Agent or any of its sub agents hereunder and as has not theretofore been sold or otherwise applied or released pursuant to this
Agreement. 

  

	(2)	In the event that any part of the Collateral is sold or otherwise disposed of (to a Person other than a Credit Party) (x) at any time prior to the Termination
Date, in connection with a sale or disposition permitted by Section 10.02 of the Credit Agreement or is otherwise released at the direction of the Required Lenders (or all the Lenders if required by Section 13.12 of the Credit Agreement),
or (y) at any time thereafter, to the extent permitted by the Other Credit Documents, and in the case of clauses (x) and (y), the proceeds of such sale or disposition (or from such release) are applied in accordance with the terms of the
Credit Agreement or other Credit Document, as the case maybe, to the extent required to be so applied, the Collateral Agent, at the request and expense of the Obligor, will duly release from the Security Interest created hereby (and will execute and
deliver such documentation, including termination or partial release statements and the like in connection therewith) and assign, transfer and deliver to the Obligor (without recourse and without any representation or warranty) such of the
Collateral as is then being (or has been) so sold or otherwise disposed of, or released, and as may be in the possession of the Collateral Agent and has not theretofore been released pursuant to this Agreement. 

 

	(3)	At any time that the Obligor desires that the Collateral Agent take any action to acknowledge or give effect to any release of Collateral pursuant to the foregoing
Section 10.9(1) or (2), the Obligor shall deliver to the Collateral Agent a certificate signed by a Responsible Officer of the Obligor stating that the release of the respective Collateral is permitted pursuant to such Section 10.9(1) or
(2). 

  

	(4)	The Collateral Agent shall have no liability whatsoever to any other Secured Creditor as the result of any release of Collateral by it in accordance with (or which the
Collateral Agent believes to be in accordance with) this Section 10.9. 

 Section 10.10 Application of Proceeds of
Security. 
  

	(1)	All monies collected by the Collateral Agent (or to the extent any other Security Document requires proceeds of collateral under such other Security Document to be
applied in accordance with the provisions of this Agreement, the collateral agent under such other Security Document) upon any sale or other disposition of Collateral, together with all other moneys received by the Collateral Agent, in each case, as
a result of the exercise of remedies by the Collateral Agent after the occurrence and during the continuance of an Event of Default hereunder shall be applied as follows: 

 

	 	(a)	first, to the payment of all amounts owing to the Collateral Agent of the type described in clauses (c), (d) and (e) of the definition of
“Obligations”; 

	 	(b)	second, to the extent proceeds remain after the application pursuant to the Section 10.10(1)(a), to the payment of all amounts owing to the Administrative Agent
and the Collateral Agent of the type described in clauses (e) and (f) of the definition of “Obligations”; 

  

	 	(c)	third, to the extent proceeds remain after the applications pursuant to the preceding Section 10.10(1)(a) and (b), an amount equal to the outstanding Primary
Obligations shall be paid to the Secured Creditors, with each Secured Creditor receiving an amount equal to its outstanding Primary Obligations or, if the proceeds are insufficient to pay in full all such Primary Obligations, its Pro Rata Share of
the amount remaining to be distributed; 

  

	 	(d)	fourth, to the extent proceeds remain after the applications pursuant to the Section 10.10(1)(a) through (c), inclusive, an amount equal to the outstanding
Secondary Obligations shall be paid to the Secured Creditors, with each Secured Creditor receiving an amount equal to its outstanding Secondary Obligations or, if the proceeds are insufficient to pay in full all such Secondary Obligations, its Pro
Rata Share of the amount remaining to be distributed; 

  

	 	(e)	fifth, to the extent proceeds remain after the application pursuant to preceding clauses (a) through (d), inclusive, notably to any of their remaining unpaid
Obligations; and 

  

	 	(f)	sixth, to the extent proceeds remain after the applications pursuant to Section 10.10(1)(a) through (e), inclusive, and following the termination of this Agreement
pursuant to Section 10.9, to the Obligor or to whomever may be lawfully entitled to receive such surplus. 

provided that no proceeds referred to in this Section 10.10 or obtained by the Collateral Agent or the Secured Creditors pursuant to
the exercise of the remedies contained in Article 3 hereof may be applied against, or used to reduce in any manner the obligations of (i) any U.S. Credit Party pursuant to any Credit Document; or (ii) any other non-Canadian Credit Party to
the extent that the Collateral Agent so agrees. 
  

	(2)	For the purposes of this Agreement: (i) “Pro Rata Share” means when calculating a Secured Creditor’s portion of any distribution or amount,
that amount (expressed as a percentage) equal to a fraction, the numerator of which is the then unpaid amount of such Secured Creditor’s Primary Obligations or Secured Creditor’s Secondary Obligations, as the case may be, and the
denominator of which is the then outstanding amount of all Primary Obligations of all Secured Creditors or all Secondary Obligations of all Secured Creditors, respectively; (ii) “Primary Obligations” means (i) in the case
of the Credit Document Obligations, all unpaid principal of, premium, if any, fees and interest on, all Loans, all Unpaid Drawings, the Stated Amount of all outstanding Letters of Credit and all Fees and (ii) in the case of the Other
Obligations, all amounts due under each Interest Rate Protection Agreement and Other Hedging Agreement with an Other Creditor (other than indemnities, fees (including, without limitation, attorneys’ fees) and similar obligations and
liabilities); and (iii) “Secondary Obligations” means all Obligations which do not constitute Primary Obligations. 

	(3)	Each of the Secured Creditors, by their acceptance of the benefits hereof and of the other Security Documents to which the Obligor is a party, agrees and acknowledges
that if the Lender Creditors receive a distribution on account of undrawn amounts with respect to Letters of Credit issued under the Credit Agreement (which shall only occur after all outstanding Revolving Loans under the Credit Agreement and Unpaid
Drawings have been paid in full), such amounts shall be paid to the Administrative Agent under the Credit Agreement and held by it, for the equal and rateable benefit of the Lender Creditors, as cash security for the repayment of Secured Obligations
owing to the Lender Creditors as such. If any amounts are held as cash security pursuant to the immediately preceding sentence, then upon termination of all outstanding Letters of Credit under the Credit Agreement, and after the application of all
such cash security the repayment of all Secured Obligations owing to the Secured Creditors after giving effect to the termination of all such Letters of Credit, if there remains any excess cash, such excess cash shall be returned by the
Administrative Agent to the Collateral Agent for distribution in accordance with this Section. 

  

	(4)	All payments required to be made hereunder shall be made (x) if to the Lender Creditors, to the Administrative Agent for the account of the Lender Creditors and
(y) if to the Other Creditors, to the trustee paying agent or other similar representation (each, a “Representative”) for the Other Creditors or, in the absence of such a Representative, directly to the Other Creditors.

  

	(5)	For the purposes of applying payments received in accordance with this Section 10.10, the Collateral Agent shall be entitled to rely upon (i) the
Administrative Agent and (ii) the Representative or, in the absence of such a Representative, upon the Other Creditors for a determination (which the Administrative Agent, each Representative and the Other Creditors agree (or shall agree) to
provide upon the request of the Collateral Agent) of the outstanding Primary Obligations and Secondary Obligations owed to the Secured Creditors. Until it has received written notice from a Secured Creditor to the contrary, the Administrative Agent
and each Representative, in furnishing information pursuant to the preceding sentence, and the Collateral Agent, in acting hereunder, shall be entitled to assume that no Secondary Obligations are outstanding. Unless it has written notice from an
Other Creditor to the contrary, the Collateral Agent, in acting hereunder, shall be entitled to assume that no Interest Rate Protection Agreements or Other Hedging Agreements are in existence. 

	(6)	It is understood that the Obligor shall remain liable to the extent of any deficiency between the amount of the proceeds of the Collateral and the aggregate amount of
the Secured Obligations. 

 Section 10.11 Conflict. 

In the event of any conflict between the provisions of this Agreement and the provisions of the Credit Agreement which cannot be resolved
by both provisions being complied with, the provisions contained in the Credit Agreement will prevail to the extent of such conflict. 

Section 10.12 Governing Law. 
  

	(1)	This Agreement will be governed by, interpreted and enforced in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein.

  

	(2)	The Obligor irrevocably attorns and submits to the exclusive jurisdiction of any court of competent jurisdiction of the Province of Ontario sitting in Toronto, Ontario
in any action or proceeding arising out of or relating to this Agreement and the other Credit Documents to which it is a party. The Obligor irrevocably waives objection to the venue of any action or proceeding in such court or that such court
provides an inconvenient forum. Nothing in this Section limits the right of the Collateral Agent to bring proceedings against the Obligor in the courts of any other jurisdiction. 

 

	(3)	The Obligor hereby irrevocably consents to the service of any and all process in any such action or proceeding by the delivery of copies of such process to the Obligor
at 8607 Roberts Drive, Suite 250, Atlanta, Georgia, USA 30350. Nothing in this Section affects the right of the Collateral Agent to serve process in any manner permitted by law. 

[Remainder of page intentionally left blank.] 

 IN WITNESS WHEREOF the Obligor has executed this Agreement. 

 

					
	ICL INDUSTRIAL CONTAINERS ULC/ICL, CONTENANTS INDUSTRIELS ULC
		
	 By:
	 	 /s/ Jeffrey M. O’Connell

		 	Name:	 	Jeffrey M. O’Connell
		 	Title:	 	Vice-President

 Accepted and Agreed to: 

 

					
	DEUTSCHE BANK TRUST COMPANY AMERICAS,
	as Collateral Agent
		
	By:	 	 /s/ Erin Morrissey

		 	Name:	 	Erin Morrissey
		 	Title:	 	Vice President
		
	By:	 	 /s/ Carin Keegan

		 	Name:	 	Carin Keegan
		 	Title:	 	Director

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