Document:

EX-10.1

 Exhibit 10.1 

Execution Version 

AMENDMENT NO. 1 TO CREDIT AGREEMENT 

This AMENDMENT NO. 1 to the Credit Agreement referred to below is entered into as of October 11, 2017 (this “First
Amendment”) by and among TIME INC., a Delaware corporation (the “Borrower”), the SUBSIDIARY GUARANTORS party hereto, the LENDERS party hereto and CITIBANK, N.A., as administrative agent (in such
capacity, the “Administrative Agent”) and as collateral agent (in such capacity, the “Collateral Agent”), and is made with reference to the Credit Agreement (as defined below). Each of Citigroup Global
Markets Inc., Morgan Stanley Senior Funding, Inc. (“Morgan Stanley”), Merrill Lynch, Pierce, Fenner & Smith Incorporated (“Merrill Lynch”), Barclays Bank PLC
(“Barclays”), BNP Paribas Securities Corp. (“BNP”) and JPMorgan Chase Bank, N.A. (together with Citi, Morgan Stanley, Merrill Lynch, Barclays and BNP, and any of their respective affiliates, the
“Arrangers”) is acting as a joint lead arranger and a joint bookrunner in connection with this First Amendment. For purposes of this First Amendment, “Citi” means Citigroup Global Markets Inc., Citibank,
N.A., Citicorp North America, Inc. and/or any of their affiliates as may be appropriate to consummate the transactions contemplated hereby. 

RECITALS 
 WHEREAS,
the Borrower, the Subsidiary Guarantors from time to time party thereto, the several Lenders from time to time party thereto and the Administrative Agent have entered into that certain Credit Agreement dated as of April 24, 2014 (together with
all exhibits and schedules attached thereto, as amended, restated, amended and restated, supplemented or otherwise modified prior to the date hereof, the “Credit Agreement”); 

WHEREAS, the Borrower has requested pursuant to Section 10.01 of the Credit Agreement that the Lenders consent to
(i) extend the scheduled maturity date of the Term Loans and the Revolving Credit Commitments (and any Revolving Credit Loans) on the terms and subject to the conditions set forth in this First Amendment and in the Amended Credit Agreement (as
defined below) and (ii) make certain other changes to the Loan Documents as more fully set forth herein. 
 WHEREAS, each Revolving
Credit Lender under the Credit Agreement immediately prior to the First Amendment Effective Date (as defined below) (collectively, the “Existing Revolving Credit Lenders”) that executes and delivers a consent to
this First Amendment (each, a “Consenting Revolving Credit Lender”) in the form of the “Revolving Credit Lender Consent” attached hereto as Annex I (a “Revolving Credit Lender
Consent”) thereby agrees to the terms and conditions of this First Amendment; 
 WHEREAS, each Existing Revolving Credit Lender
that fails to execute and return a Revolving Credit Lender Consent by 5:00 p.m. (New York City time), on October 6, 2017 (the “Consent Deadline”) (each, a
“Non-Consenting Revolving Credit Lender”) shall, in accordance with Section 10.13 of the Amended Credit Agreement, assign and delegate, without recourse, all
of its interests, rights and obligations under the Credit Agreement and the related Loan Documents in respect of its existing Revolving Credit Commitments and Revolving Credit Loans to the Replacement Lender (as defined below), which shall assume
such interests, rights and obligations as specified in the Master Assignment (as defined below), as further set forth in this First Amendment; 

WHEREAS, each Term Lender under the Credit Agreement immediately prior to the First Amendment Effective Date (collectively, the
“Existing Term Lenders”) that executes and delivers a consent to this First Amendment in the form of the “Term Lender Consent” attached hereto as Annex II (a “Term Lender Consent”) and
selects Option A thereunder (the “Option A Consenting Term Lenders”) thereby agrees to the terms and conditions of this First Amendment; 

 WHEREAS, each Existing Term Lender that executes and delivers a Term Lender Consent and selects
Option B thereunder (the “Option B Consenting Term Lenders” and, together with the Option A Consenting Term Lenders, the “Consenting Term Lenders”) thereby agrees to the terms and conditions of this
First Amendment and agrees that it shall execute a counterpart of an Assignment and Assumption substantially in the form attached hereto as Annex III (an “Assignment and Assumption Agreement”) and shall in accordance
therewith assign and delegate all of its existing Term Loans as specified in the applicable Assignment and Assumption Agreement and as further set forth in this First Amendment; 

WHEREAS, each Existing Term Lender that fails to execute and return a Term Lender Consent by the Consent Deadline (each, a “Non-Consenting Term Lender” and, together with each Non-Consenting Revolving Credit Lender, the “Non-Consenting
Lenders”) shall, in accordance with Section 10.13 of the Amended Credit Agreement, assign and delegate, without recourse, all of its interests, rights and obligations under the Credit Agreement and the related
Loan Documents in respect of its existing Term Loans to the Replacement Lender, which shall assume such interests, rights and obligations as specified in the Assignment and Assumption Agreement, as further set forth in this First Amendment; 

WHEREAS, each Loan Party party hereto (collectively, the “Reaffirming Parties”, and each, a “Reaffirming
Party”) expects to realize substantial direct and indirect benefits as a result of this First Amendment becoming effective and the consummation of the transactions contemplated hereby and agrees to reaffirm its obligations pursuant to
the Credit Agreement, the Collateral Documents, and the other Loan Documents to which it is a party; and 
 NOW, THEREFORE, in consideration
of the covenants and agreements contained herein, as well as other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

SECTION 1.    Definitions. Capitalized terms used and not otherwise defined herein have the meanings assigned to
them in the Amended Credit Agreement (as defined below). 
 SECTION 2.    Amendments to Credit Agreement. Each of
the parties hereto agrees that, effective upon the satisfaction of the conditions in Section 5 below on the First Amendment Effective Date (as defined below), (a) the Credit Agreement (other than the schedules and exhibits thereto, except as
expressly provided in clause (b) below) shall be amended and restated in its entirety as set forth in the Amended Credit Agreement attached as Exhibit A hereto and (b) the Revolving Credit Commitments on Schedule 1.01A of the Credit
Agreement and Letter of Credit Commitments on Schedule 1.01B of the Credit Agreement shall be amended and restated as set forth as attached as Exhibit B hereto. 

SECTION 3.    Continuation of Existing Revolving Credit Commitments;
Non-Consenting Revolving Credit Lenders; Other Terms and Agreements. 

(a)    Consenting Revolving Credit Lenders. Each Existing Revolving Credit Lender that delivers a Revolving Credit
Lender Consent hereby (i) consents and agrees to this First Amendment, (ii) agrees to modify the terms of the Credit Agreement as set forth in Exhibit A hereto and to modify the Revolving Credit Commitments and Letter of Credit Commitments
as set forth in Exhibit B hereto and (iii) agrees to waive any payments pursuant to Section 3.05 of the Credit Agreement arising from any conversion or prepayment of its existing Revolving Credit Loans. 

(b)    Non-Consenting Revolving Credit Lenders. The Borrower requests
pursuant to Section 10.13 of the Amended Credit Agreement that each Non-Consenting Revolving Credit Lender (i) assign and delegate, without recourse, all of its interests, rights
and obligations under the Credit Agreement and the related Loan Documents in respect of its existing Revolving Credit Commitments (and any Revolving 

  
 2 

 
Credit Loans and participations in Letters of Credit, in each case in respect thereof) to the Replacement Lender and (ii) deliver any Revolving Credit Note evidencing such Revolving Credit
Commitments and Revolving Credit Loans to the Borrower or the Administrative Agent. The Administrative Agent and/or Replacement Lender may execute and deliver such documentation as may be required to give effect to an assignment in accordance with
Section 10.13 of the Amended Credit Agreement on behalf of any Revolving Credit Lender being replaced under this Section 3. 

(c)    Replacement Lender. The Borrower has given notice to each
Non-Consenting Revolving Credit Lender that, on the First Amendment Effective Date, such Non-Consenting Revolving Credit Lender shall, pursuant to
Section 10.13 of the Amended Credit Agreement, promptly execute and deliver to the Administrative Agent a counterpart of an Assignment and Assumption Agreement to evidence the assignment of its Revolving Credit Commitments
and Revolving Credit Loans and deliver to the Administrative Agent any Revolving Credit Note (if Revolving Credit Notes have been issued in respect of such Non-Consenting Revolving Credit Lender’s
Revolving Credit Commitments and Revolving Credit Loans) subject to such Assignment and Assumption Agreement; provided, that the failure of any such Non-Consenting Revolving Credit Lender to execute an
Assignment and Assumption Agreement shall not render such assignment invalid and such assignment shall be recorded in the Register. In accordance therewith, each Non-Consenting Revolving Credit Lender shall
assign its existing Revolving Credit Commitments (and any Revolving Credit Loans and participations in Letters of Credit, in each case in respect thereof) as specified in the applicable Assignment and Assumption Agreement or any other similar
document. Pursuant to the applicable Assignment and Assumption Agreement or other similar document, each Non-Consenting Revolving Credit Lender thereby assigns the principal amount of its existing Revolving
Credit Commitments (and any Revolving Credit Loans and participations in Letters of Credit, in each case in respect thereof) to Citibank, N.A., as assignee (in such capacity the “Replacement Lender”) under such document,
solely upon the consent and acceptance by the Replacement Lender. The Replacement Lender has executed and delivered a signature page to this First Amendment on or prior to the First Amendment Effective Date as an Existing Revolving Credit Lender.

 SECTION 4.    Continuation of Existing Term Loans; Non-Consenting Term
Lenders; Other Terms and Agreements. 
 (a)    Consenting Term Lenders. 

(i)    Each Existing Term Lender selecting Option A on the Term Lender Consent hereby (i) consents and
agrees to this First Amendment, (ii) agrees to modify the terms of the Credit Agreement as set forth in Exhibit A hereto and (iii) agrees to waive any payments pursuant to Section 3.05 of the Credit Agreement
arising from the conversion or prepayment of its existing Term Loan. 
 (ii)    Each Option B Consenting
Term Lender hereby (i) consents and agrees to this First Amendment, (ii) assigns the entire aggregate principal amount of its existing Term Loans (such aggregate principal amount, its “Existing Amount”) to the
Replacement Lender (or any affiliate thereof, as applicable) on the First Amendment Effective Date, (iii) agrees to accept an assignment described in Section 4(c) of this First Amendment, in an aggregate principal amount determined by Citi
and the Borrower (such aggregate principal amount, its “New Allocation Amount”), in their discretion, on the effective date set forth in the applicable Assignment and Assumption Agreement (the “Assignment Effective
Date”, which Assignment Effective Date shall not occur before the First Amendment Effective Date and shall be no later than 30 days after the First Amendment Effective Date) and (iv) agrees to waive any payments pursuant to
Section 3.05 of the Credit Agreement arising from the prepayment of its existing Term Loan. On the Assignment Effective Date, such Option B Consenting Term Lender shall be assigned Term

  
 3 

 
Loans from the Replacement Lender in a principal amount equal to the New Allocation Amount of such Option B Consenting Term Lender, and will pay to the Replacement Lender immediately available
funds in an amount equal to the amount by which, if any, its New Allocation Amount exceeds its Existing Amount. To the extent the Option B Consenting Term Lender’s Existing Amount exceeds its New Allocation Amount (such excess amount, the
“Excess Amount”), the Replacement Lender will, on the First Amendment Effective Date, pay to such Option B Consenting Term Lender immediately available funds in an amount equal to such Excess Amount. 

(b)    Non-Consenting Term Lenders. The Borrower requests pursuant to
Section 10.13 of the Amended Credit Agreement that each Non-Consenting Term Lender (i) assign and delegate, without recourse, all of its interests, rights and obligations under
the Credit Agreement and the related Loan Documents in respect of its existing Term Loans to the Replacement Lender and (ii) deliver any Term Notes evidencing such Term Loans to the Borrower or the Administrative Agent. The Administrative Agent
and/or Replacement Lender may execute and deliver such documentation as may be required to give effect to an assignment in accordance with Section 10.13 of the Amended Credit Agreement on behalf of any Lender being replaced
under this Section 4. For the avoidance of doubt, the First Amendment Effective Date Prepayment shall be deemed to have been made immediately after giving effect to all assignments pursuant to this
Section 4(b) and the effectiveness of this First Amendment. 
 (c)    Replacement
Lender. The Borrower has given notice to each Non-Consenting Term Lender that, on the First Amendment Effective Date, such Non-Consenting Term Lender shall, pursuant
to Section 10.13 of the Amended Credit Agreement, promptly execute and deliver to the Administrative Agent a counterpart of an Assignment and Assumption to evidence the assignment of its Term Loans and deliver to the
Administrative Agent any Term Note (if Term Notes have been issued in respect of such Non-Consenting Term Lender’s Term Loans) subject to such Assignment and Assumption Agreement; provided, that
the failure of any such Non-Consenting Term Lender to execute an Assignment and Assumption Agreement shall not render such assignment invalid and such assignment shall be recorded in the Register. In
accordance therewith, each Non-Consenting Term Lender shall assign its existing Term Loans as specified in the applicable Assignment and Assumption Agreement or any other similar document. Pursuant to the
applicable Assignment and Assumption Agreement or other similar document, each Non-Consenting Term Lender thereby assigns the principal amount of its existing Term Loans to the Replacement Lender under such
document, solely upon the consent and acceptance by the Replacement Lender. The Replacement Lender has executed and delivered a signature page to this First Amendment on or prior to the First Amendment Effective Date as an Existing Term Lender. 

SECTION 5.    Conditions of Effectiveness. The effectiveness of this First Amendment (including the amendments
contained in Section 2 and agreements contained in Sections 3 and 4) shall be subject to receipt by the Administrative Agent of duly executed and delivered counterparts of this First Amendment that, when taken
together, bear the signatures of the (i) Borrower, (ii) the Required Lenders, (iii) the Revolving Credit Lenders constituting at least the Required Class Lenders with respect to the Revolving Credit Facility, (iv) the Replacement
Lender and (v) all Subsidiary Guarantors, and to the satisfaction (or written waiver) of the following conditions (the date of satisfaction of such conditions being referred to herein as the “First Amendment Effective
Date”): 
 (a)    The Administrative Agent shall have received favorable opinions of (i) Cravath,
Swaine & Moore LLP, counsel to the Loan Parties and (ii) the general counsel of the Borrower, in each case, in a form reasonably satisfactory to the Administrative Agent and addressed to the Administrative Agent and each Lender. 

  
 4 

 (b)    The Administrative Agent shall have received the following, each
properly executed by a Responsible Officer of the signing Loan Party (in the case of items required to be executed on behalf of a Loan Party), each dated the First Amendment Effective Date or, in the case of certificates of governmental officials, a
recent date before the First Amendment Effective Date and each in form and substance reasonably satisfactory to the Administrative Agent: 

(i)    such certifications of resolutions or other action and incumbency certificates of Responsible
Officers of each Loan Party as the Administrative Agent may reasonably require evidencing the identity, authority and capacity of each Responsible Officer authorized to act as a Responsible Officer in connection with this Agreement and the other
Loan Documents to which such Loan Party is a party or is to be a party; 
 (ii)    such documents and
certifications as the Administrative Agent may reasonably require to evidence that each Loan Party is organized or formed including a certificate as of a recent date of the good standing of each of the Loan Parties under the laws of its jurisdiction
of organization, from the appropriate Governmental Authority of such jurisdiction (where available in such jurisdiction); 

(iii)    a certificate signed by a Responsible Officer of the Borrower certifying that: (A) the
representations and warranties of each Loan Party contained in Article V of the Amended Credit Agreement or any other Loan Document are true and correct in all material respects on and as of the First Amendment Effective Date (except to the extent
that such representations and warranties specifically refer to an earlier date, they are true and correct in all material respects as of such earlier date); provided, that, to the extent that such representations and warranties are qualified
by materiality, material adverse effect or similar language, they are true and correct in all respects, (B) no Default or Event of Default exists or would result from such proposed First Amendment Effective Date Transactions (as defined in the
Amended Credit Agreement) and (C) the condition specified in clause (g) below has been satisfied; and 

(iv)    at least three Business Days prior to the First Amendment Effective Date, all documentation and
other information required by regulatory authorities with respect to the Loan Parties reasonably requested by the Lenders at least 10 Business Days prior to the First Amendment Effective Date under applicable “know your customer” and
anti-money laundering rules and regulations, including the USA Patriot Act, which documentation and other information the Administrative Agent shall promptly deliver to any requesting Lender. 

(c)    (A) All fees required to be paid by the Borrower to the Agents and Arrangers on or before the First Amendment
Effective Date shall have been paid and (B) all out-of-pocket expenses of the Agents (including the reasonable fees, charges and disbursements of counsel to the
Agents) required to be paid or reimbursed by the Borrower on the First Amendment Effective Date shall have been paid, to the extent invoiced at least three Business Days prior to the First Amendment Effective Date. 

(d)    Substantially concurrently with the effectiveness of this First Amendment, each
(A) Non-Consenting Revolving Credit Lender shall have received payment of all accrued fees and all other amounts payable to it hereunder and under the other Loan Documents from the Replacement Lender (and
of any amounts payable by the Borrower then due pursuant to Sections 3.01 and 3.04 of the Credit Agreement from the Borrower) and (B) Non-Consenting Term Lender shall have received payment of all amounts
payable to such Non-Consenting Term Lender hereunder and under the other Loan Documents from the Replacement Lender (and of any amounts payable by the Borrower then due pursuant to Sections 3.01 and 3.04 of
the Credit Agreement from the Borrower). 

  
 5 

 (e)    The Borrower shall have, substantially concurrently with the
effectiveness of this First Amendment, issued the 2025 Senior Notes (as defined in the Amended Credit Agreement) and received the net proceeds in respect thereof. 

(f)    The Borrower shall have, substantially concurrently with the effectiveness of this First Amendment, made the First
Amendment Effective Date Prepayment (as defined in the Amended Credit Agreement). 
 (g)    The Borrower shall be in
compliance, on a Pro Forma Basis, with the financial covenant set forth in Section 7.08 of the Amended Credit Agreement, recomputed as of the last day of the most recently ended fiscal quarter for which financial statements
have been or were required to be delivered pursuant to Section 6.01 of the Credit Agreement. 
 SECTION
6.    Representations and Warranties. To induce the other parties hereto to enter into this First Amendment, each Loan Party represents and warrants to each of the Lenders and the Administrative Agent that, as of the First
Amendment Effective Date: 
 (a)    this First Amendment has been duly authorized, executed and delivered by each Loan
Party and constitutes, and the Credit Agreement, as amended by this First Amendment, constitutes, its legal, valid and binding obligation, enforceable against each such Person in accordance with its terms, except as enforceability may be limited by
bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally, by general equitable principles or by principles of good faith and fair dealing; 

(b)    the Borrower is in compliance, on a Pro Forma Basis, with the financial covenant set forth in
Section 7.08 of the Amended Credit Agreement, recomputed as of the last day of the most recently ended fiscal quarter for which financial statements have been or were required to be delivered pursuant to Section 6.01
of the Credit Agreement; and 
 (c)    the representations and warranties of each Loan Party set forth in Article
V of the Credit Agreement (as amended by this First Amendment) and the other Loan Documents are true and correct in all material respects (provided that any representation or warranty that is already qualified by “materiality”,
“Material Adverse Effect” or similar language shall be true and correct in all respects) on and as of the First Amendment Effective Date (immediately after giving effect to this First Amendment), except to the extent that such
representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects (provided that any representation or warranty that is already qualified by “materiality”,
“Material Adverse Effect” or similar language shall be true and correct in all respects) as of such earlier date. 
 SECTION
7.    Borrower’s Consent. For purposes of Section 10.06 of the Credit Agreement, the Borrower hereby consents to any assignee of the Replacement Lender (in each case otherwise being an
Eligible Assignee) becoming a Term Lender in connection with the syndication of the Term Loans acquired by the Replacement Lender pursuant to Section 4 hereof, to the extent the inclusion of such assignee in the syndicate
(and the amount of any assignment allocated thereto) has been disclosed in writing to and agreed by the Borrower prior to the First Amendment Effective Date. 

SECTION 8.    Consents of Required Lenders. Each Lender that executes and delivers a Revolving Credit Lender
Consent or a Term Lender Consent irrevocably agrees to the amendments to the Credit Agreement provided for herein with respect to all of such Lender’s Loans and Revolving Credit Commitments (in each case, under and as defined in the Credit
Agreement). Such agreement shall be irrevocably binding on such Lender as of the First Amendment Effective Date and on any subsequent 

  
 6 

 
assignees, transferees, participants, successors and assigns with respect to such Lender’s Loans and Revolving Credit Commitments and may not be revoked or withdrawn. Notwithstanding any
other provision of this First Amendment to the contrary, each Option B Consenting Term Lender hereby agrees that Citi and the Borrower, in their discretion, may agree to allocate to such Option B Consenting Term Lender an aggregate principal amount
of Term Loans that is less than or greater than the principal amount held by it immediately prior to giving effect to the First Amendment Effective Date Transactions (as defined in the Amended Credit Agreement). 

SECTION 9.    Effects on Loan Documents. Except as specifically amended herein or contemplated hereby, all Loan
Documents shall continue to be in full force and effect and are hereby in all respects ratified and confirmed. The execution, delivery and effectiveness of this First Amendment and the Amended Credit Agreement shall not operate as a waiver of any
right, power or remedy of any Lender or the Administrative Agent under any of the Loan Documents, nor constitute a waiver of any provision of the Loan Documents or in any way limit, impair or otherwise affect the rights, power and remedies of the
Lenders or the Administrative Agent under the Loan Documents. The Borrower and each of the Guarantors acknowledges and agrees that, on and after the First Amendment Effective Date, this First Amendment and each of the other Loan Documents to be
executed and delivered by the Borrower or any Loan Party in connection herewith shall constitute a Loan Document for all purposes of the Credit Agreement (as amended by this First Amendment, the “Amended Credit Agreement”).
Prior to the First Amendment Effective Date, each reference in the Credit Agreement to “Term Loan” or “Term Loans” shall mean and be a reference to the existing Term Loans, and from and after the First Amendment Effective Date,
each such reference in the Amended Credit Agreement shall mean and be a reference to the Term Loans as amended hereby. On and after the First Amendment Effective Date, each reference in the Amended Credit Agreement to “this Agreement”,
“hereunder”, “hereof”, “herein” or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to “Credit Agreement”, “thereunder”, “thereof” or
words of like import referring to the Credit Agreement shall mean and be a reference to the Credit Agreement as amended by this First Amendment, and this First Amendment and the Credit Agreement shall be read together and construed as a single
instrument. Nothing herein shall be deemed to entitle the Borrower or any Loan Party to a further consent to, or a further waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements
contained in the Amended Credit Agreement or any other Loan Document in similar or different circumstances. 
 SECTION
10.    Indemnification. The Borrower hereby confirms that the indemnification provisions set forth in Section 10.04 of the Amended Credit Agreement shall apply to this First Amendment and the
transactions contemplated hereby. 
 SECTION 11.    Arrangers. The Borrower and the Lenders party hereto agree
that each Arranger shall be entitled to the privileges, indemnification, immunities and other benefits afforded to the Arrangers under the Amended Credit Agreement. Except as otherwise agreed to in writing by the Borrower, on the one hand, and any
Arranger, on the other hand, the Arrangers (solely in their respective capacities as Arrangers) shall have no duties, responsibilities or liabilities with respect to this First Amendment, the Amended Credit Agreement or any other Loan Document. 

SECTION 12.    Amendments; Execution in Counterparts; Severability. 

(a)    This First Amendment may not be amended nor may any provision hereof be waived except in accordance with
Section 10.01 of the Amended Credit Agreement. 
 (b)    To the extent any provision of this First Amendment is
prohibited by or invalid under the applicable law of any jurisdiction, such provision shall be ineffective only to the extent of such prohibition or invalidity and only in such jurisdiction, without prohibiting or invalidating such provision in any
other jurisdiction or the remaining provisions of this First Amendment in any jurisdiction. 

  
 7 

 SECTION 13.    Reaffirmation. Each of the Reaffirming Parties, as
party to the Credit Agreement and certain of the Collateral Documents and the other Loan Documents, in each case as amended, supplemented or otherwise modified from time to time, hereby (i) acknowledges and agrees that all of its obligations
under the Credit Agreement, the Collateral Documents and the other Loan Documents to which it is a party are reaffirmed and remain in full force and effect on a continuous basis, (ii) reaffirms (A) each Lien granted by it to the Collateral
Agent for the benefit of the Secured Parties and (B) any guaranties made by it pursuant to the Credit Agreement, (iii) acknowledges and agrees that the grants of security interests by it contained in the Security Agreement and any other
Collateral Document shall remain in full force and effect after giving effect to the First Amendment and (iv) agrees that the Obligations include, among other things and without limitation, the prompt and complete payment and performance by the
Borrower when due and payable (whether at the stated maturity, by acceleration or otherwise) of principal and interest on, and premium (if any) on, the Term Loans under the Amended Credit Agreement. Nothing contained in this First Amendment shall be
construed as substitution or novation of the obligations outstanding under the Credit Agreement or the other Loan Documents, which shall remain in full force and effect, except to any extent modified hereby. 

SECTION 14.    Administrative Agent. The Borrower acknowledges and agrees that Citibank, N.A., in its capacity as
administrative agent under the Credit Agreement, will serve as Administrative Agent under this First Amendment and under the Amended Credit Agreement. 

SECTION 15.    Governing Law; Waiver of Jury Trial; Jurisdiction. This First Amendment shall be governed by, and
construed in accordance with, the law of the State of New York without giving effect to any conflicts provisions that would result in the application of the laws of another jurisdiction. The provisions of Section 10.15(a)
and Section 10.16 of the Credit Agreement as amended by this First Amendment are incorporated herein by reference, mutatis mutandis. 

SECTION 16.    Headings. Section headings in this First Amendment are included herein for convenience of reference
only, are not part of this First Amendment and are not to affect the construction of, or to be taken into consideration in interpreting, this First Amendment. 

SECTION 17.    Counterparts. This First Amendment may be executed by one or more of the parties hereto on any
number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Signatures delivered by facsimile or PDF or other electronic means shall have the same force and effect as manual
signatures delivered in person. 
 [Remainder of page intentionally left blank.] 

  
 8 

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

			
	Borrower:
	
	TIME INC.
		
	By:	 	 /s/ Susana D’Emic

		 	Name: Susana D’Emic
		 	 Title:   Executive Vice President and

            Chief Financial Officer

  

 
			
		 	Subsidiary Guarantors:
		
		 	Bizrate Insights Inc.
		 	Book-of-The-Month Club, Inc.
		 	Business 2.0 Media Inc.
		 	Cozi Inc.
		 	ECI Publishing, Inc.
		 	Entertainment Weekly Inc.
		 	Essence Communications Inc.
		 	Essence Festivals Investments LLC
		 	Essence Festivals LLC
		 	Essence Festivals Productions LLC
		 	FanSided Inc.
		 	Fundraising.com, Inc.
		 	Gift Services, Inc.
		 	Health Media Ventures Inc.
		 	Healthy Living, Inc.
		 	Hello Giggles, Inc.
		 	HP Holdings Inc.
		 	LeagueAthletics.com LLC
		 	League Sports Services LLC
		 	Life Inc.
		 	Loyalty Extras, Inc.
		 	LSS Football LLC
		 	Magazine Value Partners, Inc.
		 	Maghound Enterprises Inc.
		 	Media Services, Inc.
		 	MNI Targeted Media Inc.
		 	NewSub Magazine Services LLC
		 	NSSI Holdings Inc.
		 	Oxmoor House, Inc.
		 	QSP Distribution Services, LLC
		 	Real Simple Productions, Inc.
		 	SI Digital Games, Inc.
		 	SI Features Inc.
		 	SI Play LLC
		 	SI Productions Inc.
		 	SI Ventures Inc.
		 	SirenServ, Inc.
		 	Southern Progress Corporation
		 	Southern Progress Custom Publishing, Inc.
		 	SPC Retail Publishing, Inc.
		 	StyleFeeder Inc.
		 	Sunset Publishing Corporation
		 	Synapse Direct, Inc.
		 	Synapse Group, Inc.
		 	Synapse Retail Ventures, Inc.
		 	 Synapse Services, Inc.

		 	 Synapse Ventures, Inc.

		 	 SynapseConnect, Inc.

		 	 The Picture Collection,
Inc.

  

			
		 	 TI Administrative Holdings LLC

		 	 TI Asia Holdings Inc.

		 	 TI Books Holdings LLC

		 	 TI Business Ventures Inc.

		 	 TI Circulation Holdings LLC

		 	 TI Corporate Holdings LLC

		 	 TI Distribution Holdings LLC

		 	 TI Experiential Inc.

		 	 TI Golf Holdings Inc.

		 	 TI International Holdings Inc.

		 	 TI Live Events Inc.

		 	 TI Magazine Holdings LLC

		 	 TI Magazine Services LLC

		 	 TI Marketing Services Inc.

		 	 TI Media Solutions Inc.

		 	 TI Paperco Inc.

		 	 TI Parsippany Inc.

		 	 TI Real Estate Services Inc.

		 	 TI Retail Service Group Inc.

		 	 TI Sales Holdings LLC

		 	 TI Shared Services Inc.

		 	 TI Trade Books Holdings LLC

		 	 Time Consumer Marketing, Inc.

		 	 Time Customer Service, Inc.

		 	 Time Direct Ventures LLC

		 	 Time Distribution Services Inc.

		 	 Time Inc. Affluent Media Group

		 	 Time Inc. Books

		 	 Time Inc. Domestic Licensing

		 	 Time Inc. Food Studio Productions LLC

		 	 Time Inc. Interactive

		 	 Time Inc. Lifestyle Group

		 	 Time Inc. Play

		 	 Time Inc. Productions

		 	 Time Inc. Retail

		 	 Time Inc. Ventures

		 	 Time Mailing Services LLC

		 	 Time Publishing Ventures, Inc.

		 	 Time TV Corporation

		 	 Vertical Media Solutions Inc.

		 	 Viant Technology Holding Inc.

		 	WD Productions LLC
		
	 By:
	 	 /s/ Susana D’Emic

		 	 Name: Susana D’Emic

		 	 Title:   Authorized Officer

  

 
			
	CITIBANK, N.A., as Administrative Agent and as Collateral Agent
		
	By:	 	 /s/ Monique Renta

		 	Name: Monique Renta
		 	Title: Director
	
	CITIBANK, N.A., as Replacement Lender
		
	By:	 	 /s/ Monique Renta

		 	Name: Monique Renta
		 	Title: Director
	
	 [Lender signature pages are on file with the

      Administrative Agent]

  

 ANNEX III 

[FORM OF] ASSIGNMENT AND ASSUMPTION AGREEMENT 

FOR TIME INC. CREDIT AGREEMENT 

This Assignment and Assumption (this “Assignment and Assumption”) is dated as of the Effective Date set forth below and is
entered into by and between each Assignor identified in Section 1 below (each, an “Assignor”) and Citibank, N.A. (the “Assignee”). Capitalized terms used but not defined herein shall have the meanings given to
them in the Credit Agreement identified below (the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to
and incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full. 
 For an agreed
consideration, each Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases and assumes from each Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit
Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated below, (i) all of the applicable Assignor’s rights and obligations in its capacity as a Term Lender under the Credit Agreement and any other documents
or instruments delivered pursuant thereto to the extent related to the amount identified below of all of such outstanding rights and obligations of each Assignor under the Term Loan facility, and (ii) to the extent permitted to be assigned
under applicable law, all claims, suits, causes of action and any other right of the applicable Assignor (in its capacity as a Term Lender) against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any
other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory
claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii) above being referred to
herein collectively as the “Assigned Interest”). Each such sale and assignment is without recourse to the applicable Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by
the applicable Assignor. 
 By purchasing the Assigned Interest, the Assignee agrees that, for purposes of that certain First Amendment to
Credit Agreement dated as of October 11, 2017 (the “First Amendment”), by and among the Borrower, the Subsidiary Guarantors party thereto, the Lenders party thereto and the Replacement Lender referred to therein and the
Administrative Agent, it shall be deemed to have consented and agreed to the First Amendment. 
  

					
	1.	  	Assignors:	  	Each person identified in the column entitled “Assignor” in the table set out in Section 6 below.
			
	2.	  	Assignee:	  	Citibank, N.A.
			
	3.	  	Borrower:	  	Time Inc.
			
	4.	  	Administrative Agent:	  	Citibank, N.A., as the administrative agent under the Credit Agreement

  
 Annex III-1 

					
	5.	  	Credit Agreement:	  	Credit Agreement, dated as of April 24, 2014 (as amended, amended and restated, supplemented or otherwise modified from time to time and in effect on the date hereof, the “Credit Agreement”), among Time Inc.,
as Borrower, the Subsidiary Guarantors party thereto from time to time, each lender party thereto from time to time and Citibank, N.A., as Administrative Agent.
			
	6.	  	Assigned Interest1:	  	

  

													
	 ASSIGNOR
	  	Aggregate Amount of Term Loans
held immediately prior to the First
Amendment Effective Date	 	  	Aggregate Amount of Term
Loans held immediately
following the First Amendment
Effective Date	 	  	CUSIP
Number	 
		  	$	            	 	  	$	            	 	  			
		  	$	            	 	  	$	            	 	  			
		  	$	            	 	  	$	            	 	  			

 Effective Date:             , 2017 

 
  

	1 	Additional pages shall be attached hereto at the discretion of the Administrative Agent, to the extent deemed necessary or advisable by the Administrative Agent to reflect calculation of amounts and percentages of
assignments. 

  
 Annex III-2 

 The terms set forth in this Assignment and Assumption are hereby agreed to: 

 

			
	[NAME OF ASSIGNOR], as
	Assignor
		
	By:	 	  

		 	Name:
		 	Title:
	
	CITIBANK, N.A., as Assignee
		
	By:	 	
                     

		 	Name:
		 	Title:

  
 Annex III-3 

			
	Consented to and Accepted:
	
	CITIBANK, N.A., as
	  Administrative Agent
		
	By:	 	
                     

		 	Name:
		 	Title:
	
	Consented to:
	
	 TIME INC., as
   the
Borrower

		
	By:	 	  

		 	Name:
		 	Title:

  
 Annex III-4 

 Annex 1 

STANDARD TERMS AND CONDITIONS FOR 

ASSIGNMENT AND ASSUMPTION 

1.    Representations and Warranties. 

1.1     Assignor. Each Assignor (a) represents and warrants that (i) it is the legal and beneficial owner
of the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment
and Assumption and to consummate the transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit Agreement or any other Loan
Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of the Borrower, any of its respective Subsidiaries or
Affiliates or any other Person obligated in respect of any Loan Document, or (iv) the performance or observance by the Borrower, any of its Subsidiaries or Affiliates or any other Person of any of its respective obligations under any Loan
Document. 
 1.2.     Assignee. The Assignee (a) represents and warrants that (i) it is an Eligible
Assignee and has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement,
(ii) it satisfies the requirements, if any, specified in the Credit Agreement that are required to be satisfied by it in order to acquire the Assigned Interest and become a Lender, (iii) from and after the Effective Date, it shall be bound
by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it is sophisticated with respect to decisions to acquire assets of the type
represented by the Assigned Interest and either it, or the Person exercising discretion in making its decision to acquire the Assigned Interest, is experienced in acquiring assets of such type, (v) it has received a copy of the Credit
Agreement, and has received or has been accorded the opportunity to receive copies of the most recent financial statements delivered pursuant to Section 6.01 thereof, as applicable, and such other documents and information as it deems
appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase the Assigned Interest, (vi) it has, independently and without reliance upon the Administrative Agent or any other Lender and
based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Assignment and Assumption and to purchase the Assigned Interest, and (vii) if it is a Foreign Lender, attached
hereto is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; and (b) agrees that (i) it will, independently and without reliance upon the
Administrative Agent, each Assignor or any other Lender, and based on such documents and information as it deems appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, (ii) it
appoints and authorizes the Administrative Agent to take such action on its behalf and to exercise such powers and discretion under the Credit Agreement and the other Loan Documents, together with such powers as are incidental thereto, and
(iii) it will be bound by the terms of the Credit Agreement and perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender including its obligations
under Section 3.01(d) of the Credit Agreement. 
 2.    Payments. From and after the Effective Date, the
Administrative Agent shall make all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to each Assignor for amounts which have accrued to but excluding the Effective Date and to the
Assignee for amounts which have accrued from and after the Effective Date. 

  
 Annex III-5 

 3.     General Provisions. This Assignment and Assumption shall be
binding upon, and inure to the benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an
executed counterpart of a signature page of this Assignment and Assumption by facsimile or by email as a “.pdf” or “.tif” attachment shall be effective as delivery of a manually executed counterpart of this Assignment and
Assumption. This Assignment and Assumption shall be governed by, and construed in accordance with, the law of the State of New York without giving effect to any conflicts of laws provisions that would result in the application of the laws of another
jurisdiction. 

  
 Annex III-6 

 Exhibit A 
  

 
 AMENDED AND RESTATED CREDIT AGREEMENT

 Dated as of April 24, 2014 

as amended and restated as of October 11, 2017 

among 
 TIME INC., 

as the Borrower, 
 THE SUBSIDIARY
GUARANTORS PARTY HERETO FROM TIME TO TIME, 
 THE LENDERS PARTY HERETO FROM TIME TO TIME, 

and 
 CITIBANK, N.A., 

as Administrative Agent 
  

 
 CITIGROUP GLOBAL MARKETS INC., MORGAN
STANLEY SENIOR FUNDING, INC., MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, BARCLAYS BANK PLC, BNP PARIBAS SECURITIES CORP., and JPMORGAN CHASE BANK, N.A. 

as Joint Lead Arrangers and Joint Bookrunners 
  

 

 TABLE OF CONTENTS 

 

							
	ARTICLE I	 
	
	Definitions and Accounting Terms	 
			
	 SECTION 1.01.
	 	 Defined Terms
	  	 	1	 
	 SECTION 1.02.
	 	 Other Interpretive Provisions
	  	 	61	 
	 SECTION 1.03.
	 	 Accounting Terms; GAAP
	  	 	61	 
	 SECTION 1.04.
	 	 Rounding
	  	 	62	 
	 SECTION 1.05.
	 	 References to Agreements, Laws, Etc
	  	 	63	 
	 SECTION 1.06.
	 	 Times of Day
	  	 	63	 
	 SECTION 1.07.
	 	 Timing of Payment of Performance
	  	 	63	 
	 SECTION 1.08.
	 	 Pro Forma and Other Calculations
	  	 	63	 
	 SECTION 1.09.
	 	 Letter of Credit Amounts
	  	 	64	 
	 SECTION 1.10.
	 	 Determination of Dollar Equivalents
	  	 	64	 
	 SECTION 1.11.
	 	 Cashless Rollovers
	  	 	65	 
	
	ARTICLE II	 
	
	The Commitments and Credit Extensions	 
			
	 SECTION 2.01.
	 	 The Loans
	  	 	65	 
	 SECTION 2.02.
	 	 Borrowings, Conversions and Continuations of Loans
	  	 	65	 
	 SECTION 2.03.
	 	 Letters of Credit
	  	 	67	 
	 SECTION 2.04.
	 	 Prepayments
	  	 	79	 
	 SECTION 2.05.
	 	 Termination or Reduction of Commitments
	  	 	82	 
	 SECTION 2.06.
	 	 Repayment of Loans
	  	 	83	 
	 SECTION 2.07.
	 	 Interest
	  	 	83	 
	 SECTION 2.08.
	 	 Fees
	  	 	84	 
	 SECTION 2.09.
	 	 Computation of Interest and Fees
	  	 	85	 
	 SECTION 2.10.
	 	 Evidence of Indebtedness
	  	 	85	 
	 SECTION 2.11.
	 	 Payments Generally
	  	 	85	 
	 SECTION 2.12.
	 	 Sharing of Payments
	  	 	88	 
	 SECTION 2.13.
	 	 Incremental Credit Extensions
	  	 	88	 
	 SECTION 2.14.
	 	 Refinancing Amendments
	  	 	90	 
	 SECTION 2.15.
	 	 Extension Offers
	  	 	91	 
	 SECTION 2.16.
	 	 Defaulting Lenders
	  	 	93	 
	 SECTION 2.17.
	 	 MIRE Events
	  	 	94	 
	
	ARTICLE III	 
	
	Taxes, Increased Costs Protection and Illegality	 
			
	 SECTION 3.01.
	 	 Taxes
	  	 	94	 
	 SECTION 3.02.
	 	 Illegality
	  	 	97	 
	 SECTION 3.03.
	 	 Inability to Determine Rates
	  	 	98	 

  
 i 

							
	 SECTION 3.04.
	 	 Increased Cost and Reduced Return; Capital Adequacy; Reserves on Eurocurrency Rate
Loans
	  	 	99	 
	 SECTION 3.05.
	 	 Funding Losses
	  	 	100	 
	 SECTION 3.06.
	 	 Matters Applicable to All Requests for Compensation
	  	 	101	 
	 SECTION 3.07.
	 	 Replacement of Lenders under Certain Circumstances
	  	 	102	 
	 SECTION 3.08.
	 	 Survival
	  	 	102	 
	
	ARTICLE IV	 
	
	Conditions Precedent to Credit Extensions	 
			
	 SECTION 4.01.
	 	 Conditions to Initial Effectiveness
	  	 	102	 
	 SECTION 4.02.
	 	 Conditions to the Initial Credit Extensions
	  	 	103	 
	 SECTION 4.03.
	 	 Conditions to All Credit Extensions
	  	 	105	 
	
	ARTICLE V	 
	
	Representations and Warranties	 
			
	 SECTION 5.01.
	 	 Existence, Qualification and Power; Compliance with Laws
	  	 	106	 
	 SECTION 5.02.
	 	 Authorization; No Contravention
	  	 	106	 
	 SECTION 5.03.
	 	 Governmental Authorization; Other Consents
	  	 	107	 
	 SECTION 5.04.
	 	 Binding Effect
	  	 	107	 
	 SECTION 5.05.
	 	 Financial Statements; No Material Adverse Effect
	  	 	107	 
	 SECTION 5.06.
	 	 Litigation
	  	 	107	 
	 SECTION 5.07.
	 	 Ownership of Property; Liens
	  	 	108	 
	 SECTION 5.08.
	 	 Environmental Compliance
	  	 	108	 
	 SECTION 5.09.
	 	 Taxes
	  	 	109	 
	 SECTION 5.10.
	 	 ERISA Compliance
	  	 	109	 
	 SECTION 5.11.
	 	 Restricted Subsidiaries; Equity Interests
	  	 	109	 
	 SECTION 5.12.
	 	 Margin Regulations; Investment Company Act
	  	 	109	 
	 SECTION 5.13.
	 	 Disclosure
	  	 	110	 
	 SECTION 5.14.
	 	 Sanctions, OFAC and Patriot Act
	  	 	110	 
	 SECTION 5.15.
	 	 Intellectual Property; Licenses, Etc
	  	 	110	 
	 SECTION 5.16.
	 	 Solvency
	  	 	111	 
	 SECTION 5.17.
	 	 Security Documents
	  	 	111	 
	
	ARTICLE VI	 
	
	Affirmative Covenants	 
			
	 SECTION 6.01.
	 	 Financial Statements
	  	 	112	 
	 SECTION 6.02.
	 	 Certificates; Other Information
	  	 	113	 
	 SECTION 6.03.
	 	 Notices
	  	 	114	 
	 SECTION 6.04.
	 	 Payment of Taxes
	  	 	115	 
	 SECTION 6.05.
	 	 Preservation of Existence, Etc
	  	 	115	 
	 SECTION 6.06.
	 	 Maintenance of Properties
	  	 	115	 

  
 ii 

							
	 SECTION 6.07.
	 	 Maintenance of Insurance
	  	 	115	 
	 SECTION 6.08.
	 	 Compliance with Laws
	  	 	116	 
	 SECTION 6.09.
	 	 Books and Records
	  	 	116	 
	 SECTION 6.10.
	 	 Inspection Rights
	  	 	116	 
	 SECTION 6.11.
	 	 Additional Collateral; Additional Guarantors
	  	 	116	 
	 SECTION 6.12.
	 	 Compliance with Environmental Laws
	  	 	119	 
	 SECTION 6.13.
	 	 Post-Closing Conditions and Further Assurances
	  	 	119	 
	 SECTION 6.14.
	 	 Designation of Subsidiaries
	  	 	120	 
	 SECTION 6.15.
	 	 Use of Proceeds
	  	 	120	 
	 SECTION 6.16.
	 	 Maintenance of Ratings
	  	 	121	 
	 SECTION 6.17.
	 	 Lender Calls
	  	 	121	 
	 SECTION 6.18.
	 	 First Amendment Post-Effective Date Transactions
	  	 	121	 
	
	ARTICLE VII	 
	
	Negative Covenants	 
			
	 SECTION 7.01.
	 	 Liens
	  	 	121	 
	 SECTION 7.02.
	 	 Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock
	  	 	126	 
	 SECTION 7.03.
	 	 Fundamental Changes
	  	 	131	 
	 SECTION 7.04.
	 	 Dispositions
	  	 	133	 
	 SECTION 7.05.
	 	 Restricted Payments
	  	 	136	 
	 SECTION 7.06.
	 	 Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries
	  	 	141	 
	 SECTION 7.07.
	 	 Transactions with Affiliates
	  	 	143	 
	 SECTION 7.08.
	 	 Financial Covenant
	  	 	146	 
	 SECTION 7.09.
	 	 Accounting Changes
	  	 	146	 
	 SECTION 7.10.
	 	 Change in Nature of Business
	  	 	147	 
	 SECTION 7.11.
	 	 Sale and Lease-Back Transactions
	  	 	147	 
	 SECTION 7.12.
	 	 Amendments to Certain Spin-Off Documents
	  	 	147	 
	 SECTION 7.13.
	 	 Certain Transactions Prior to the Spin-Off
	  	 	147	 
	
	ARTICLE VIII	 
	
	Events Of Default and Remedies	 
			
	 SECTION 8.01.
	 	 Events of Default
	  	 	147	 
	 SECTION 8.02.
	 	 Remedies Upon Event of Default
	  	 	149	 
	 SECTION 8.03.
	 	 Application of Funds
	  	 	150	 
	
	ARTICLE IX	 
	
	Administrative Agent and Other Agents	 
			
	 SECTION 9.01.
	 	 Appointment and Authority
	  	 	151	 
	 SECTION 9.02.
	 	 Delegation of Duties
	  	 	152	 

  
 iii 

							
	 SECTION 9.03.
	 	 Exculpatory Provisions
	  	 	152	 
	 SECTION 9.04.
	 	 Reliance by Administrative Agent
	  	 	153	 
	 SECTION 9.05.
	 	 Non-Reliance on Administrative Agent and Other Lenders;
Certain ERISA Matters
	  	 	153	 
	 SECTION 9.06.
	 	 Rights as a Lender
	  	 	155	 
	 SECTION 9.07.
	 	 Resignation of Administrative Agent
	  	 	155	 
	 SECTION 9.08.
	 	 Administrative Agent May File Proofs of Claim
	  	 	156	 
	 SECTION 9.09.
	 	 Collateral and Guaranty Matters
	  	 	157	 
	 SECTION 9.10.
	 	 No Other Duties, Etc
	  	 	158	 
	 SECTION 9.11.
	 	 Lines of Credit, Treasury Services Agreements and Secured Hedge Agreements
	  	 	159	 
	 SECTION 9.12.
	 	 Withholding Tax
	  	 	159	 
	
	ARTICLE X	 
	
	Miscellaneous	 
			
	 SECTION 10.01.
	 	 Amendments, Etc
	  	 	159	 
	 SECTION 10.02.
	 	 Notices; Effectiveness; Electronic Communications
	  	 	163	 
	 SECTION 10.03.
	 	 No Waiver; Cumulative Remedies; Enforcement
	  	 	165	 
	 SECTION 10.04.
	 	 Expenses; Indemnity; Damage Waiver
	  	 	165	 
	 SECTION 10.05.
	 	 Payments Set Aside
	  	 	168	 
	 SECTION 10.06.
	 	 Successors and Assigns
	  	 	168	 
	 SECTION 10.07.
	 	 Treatment of Certain Information; Confidentiality
	  	 	174	 
	 SECTION 10.08.
	 	 Setoff
	  	 	175	 
	 SECTION 10.09.
	 	 Interest Rate Limitation
	  	 	176	 
	 SECTION 10.10.
	 	 Counterparts; Effectiveness
	  	 	176	 
	 SECTION 10.11.
	 	 Integration
	  	 	176	 
	 SECTION 10.12.
	 	 Survival of Representations and Warranties
	  	 	176	 
	 SECTION 10.13.
	 	 Replacement of Lenders
	  	 	177	 
	 SECTION 10.14.
	 	 Severability
	  	 	178	 
	 SECTION 10.15.
	 	 GOVERNING LAW
	  	 	178	 
	 SECTION 10.16.
	 	 WAIVER OF RIGHT TO TRIAL BY JURY
	  	 	179	 
	 SECTION 10.17.
	 	 Binding Effect
	  	 	179	 
	 SECTION 10.18.
	 	 No Advisory or Fiduciary Responsibility
	  	 	179	 
	 SECTION 10.19.
	 	 Lender Action
	  	 	180	 
	 SECTION 10.20.
	 	 USA Patriot Act
	  	 	180	 
	 SECTION 10.21.
	 	 Electronic Execution of Assignments and Certain Other Documents
	  	 	181	 
	 SECTION 10.22.
	 	 Judgment Currency
	  	 	181	 
	 SECTION 10.23.
	 	 Acknowledgment and Consent to Bail-In of EEA Financial
Institutions
	  	 	181	 

  
 iv 

							
	ARTICLE XI	 
	
	Guarantee	 
			
	 SECTION 11.01.
	 	 The Guarantee
	  	 	182	 
	 SECTION 11.02.
	 	 Obligations Unconditional
	  	 	182	 
	 SECTION 11.03.
	 	 Reinstatement
	  	 	184	 
	 SECTION 11.04.
	 	 Subrogation; Subordination
	  	 	184	 
	 SECTION 11.05.
	 	 Remedies
	  	 	184	 
	 SECTION 11.06.
	 	 Instrument for the Payment of Money
	  	 	184	 
	 SECTION 11.07.
	 	 Continuing Guarantee
	  	 	184	 
	 SECTION 11.08.
	 	 General Limitation on Guarantee Obligations
	  	 	184	 
	 SECTION 11.09.
	 	 Release of Liens and Guarantees
	  	 	185	 
	 SECTION 11.10.
	 	 Right of Contribution
	  	 	185	 
	 SECTION 11.11.
	 	 Subject to Intercreditor Agreement
	  	 	185	 
	 SECTION 11.12.
	 	 Keepwell
	  	 	186	 

  
 v 

			
	 SCHEDULES
	 	
		
	 1.01A
	 	 Commitments

	 1.01B
	 	 Letter of Credit Commitments

	 1.01C
	 	 Subsidiary Guarantors

	 5.06
	 	 Litigation

	 5.07
	 	 Exceptions to Ownership of Property

	 5.08
	 	 Environmental Matters

	 5.11
	 	 Restricted Subsidiaries

	 6.13(a)
	 	 Certain Collateral Documents

	 7.01
	 	 Existing Liens

	 7.02(b)
	 	 Existing Indebtedness

	 10.02
	 	 Administrative Agent’s Office, Certain Addresses for Notices

		
	 EXHIBITS
	 	
		
	 Form of
	 	
		
	 A
	 	 Committed Loan Notice

	 B-1
	 	 Term Note

	 B-2
	 	 Revolving Credit Note

	 C
	 	 Compliance Certificate

	 D
	 	 Assignment and Assumption

	 E
	 	 Security Agreement

	 F-1
	 	 Perfection Certificate

	 F-2
	 	 Perfection Certificate Supplement

	 G-1
	 	 U.S. Tax Compliance Certificate or Foreign
Non-Partnership Lenders

	 G-2
	 	 U.S. Tax Compliance Certificate or Foreign
Non-Partnership Participants

	 G-3
	 	 U.S. Tax Compliance Certificate or Foreign Partnership Lenders

	 G-4
	 	 U.S. Tax Compliance Certificate or Foreign Partnership Participants

	 H
	 	 Solvency Certificate

	 I
	 	 Opinion of Cravath, Swaine & Moore LLP

	 J
	 	 Opinion of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo PC

  
 vi 

 AMENDED AND RESTATED CREDIT AGREEMENT, dated as of April 24, 2014 (as
amended by that Amendment No. 1, dated as of October 11, 2017, and as it may be further amended, amended and restated, supplemented or otherwise modified from time to time, this “Agreement”), among Time Inc., a Delaware
corporation, as borrower (the “Borrower”), the Subsidiary Guarantors party hereto from time to time, each lender party hereto from time to time (collectively, the “Lenders” and individually, a
“Lender”) and Citibank, N.A. (“Citibank”), as Administrative Agent. 
 The Borrower has requested that
(a) the Term Lenders lend Term Loans to the Borrower on the Closing Date the proceeds of which, together with the proceeds of the Senior Notes, will be used to (i) either (A) purchase from Time Warner Limited all of the outstanding
equity interests in Time UK Publishing Holdings Limited (the “IPC Purchase”) or (B) repay, redeem or otherwise retire a note issued by the Borrower or one of its Subsidiaries in connection with the IPC Purchase (the
“IPC Note” and such repayment, redemption or retirement, the “IPC Note Repayment”), (ii) pay a special dividend to the Parent (the “Special Dividend”) in an aggregate amount, together with the
IPC Purchase or IPC Note Repayment, not to exceed $1.4 billion and (iii) pay fees and expenses incurred in connection with the Transactions; and (b) from time to time (i) the Revolving Credit Lenders make Revolving Credit Loans
to the Borrower, and (ii) the L/C Issuers issue Letters of Credit. 
 The applicable Lenders have indicated their willingness to lend,
and the L/C Issuers have indicated their willingness to issue Letters of Credit, in each case, on the terms and subject to the conditions set forth herein. 

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

ARTICLE I 
 DEFINITIONS AND
ACCOUNTING TERMS 
 SECTION 1.01.    Defined Terms. As used in this Agreement, the following terms shall have
the meanings set forth below: 
 “2022 Offering Memorandum” means the offering memorandum, dated April 14,
2014, pursuant to which the Senior Notes were offered to potential purchasers. 
 “2025 Offering Memorandum” means
the offering memorandum, dated October 4, 2017, pursuant to which the 2025 Senior Notes were offered to potential purchasers. 

“2025 Senior Notes” means the Borrower’s senior unsecured notes due 2025 in an aggregate original principal
amount of $300 million issued under the 2025 Senior Notes Indenture. 
 “2025 Senior Notes Indenture” means
the indenture for the 2025 Senior Notes, to be entered into among the Borrower, as issuer, Citibank, N.A., as trustee, and the other entities from time to time party thereto, as the same may be amended, modified, supplemented, replaced or refinanced
to the extent not prohibited by this Agreement. 

  
 1 

 “Accounting Opinion” has the meaning set forth in
Section 6.01(a). 
 “Acquired Indebtedness” means, with respect to any specified Person,
(a) Indebtedness of any other Person existing at the time such other Person is merged with or into or became a Restricted Subsidiary of such specified Person, including Indebtedness incurred in connection with, or in contemplation of, such
other Person merging with or into or becoming a Restricted Subsidiary of such specified Person, and (b) Indebtedness secured by a Lien encumbering any asset acquired by such specified Person. The term “Acquired Indebtedness”
does not include Indebtedness of a Person that is redeemed, discharged, defeased, retired or otherwise repaid at the time of, or immediately upon consummation of, the transactions by which such Person became a Restricted Subsidiary or such asset
acquisition. 
 “Additional Lender” has the meaning set forth in Section 2.13(c). 

“Additional Refinancing Lender” means, at any time, any bank, financial institution or other institutional lender or
investor that, in any case, is not an existing Lender and that agrees to provide any portion of Credit Agreement Refinancing Indebtedness pursuant to a Refinancing Amendment in accordance with Section 2.14; provided,
that each Additional Refinancing Lender shall be subject to the approval of the Administrative Agent, such approval not to be unreasonably withheld or delayed, to the extent that any such consent would be required from the Administrative Agent under
Section 10.06(b)(iii)(B) for an assignment of Loans to such Additional Refinancing Lender, solely to the extent such consent would be required for any assignment to such Lender. 

“Administrative Agent” means Citibank, in its capacity as administrative agent under any of the Loan Documents, or any
successor administrative agent. 
 “Administrative Agent’s Office” means the Administrative Agent’s address and
account as set forth on Schedule 10.02, or such other address or account as the Administrative Agent may from time to time notify the Borrower and the Lenders. 

“Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by the Administrative Agent. 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under
direct or indirect common control with such specified Person. For purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and “under common control
with”), as used with respect to any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by
agreement or otherwise. 
 “Affiliate Transaction” has the meaning set forth in Section 7.07(a).

  
 2 

 “Affiliated Lender” means any Lender that holds beneficial ownership of 10% or
more of the total voting power of the Voting Stock of the Borrower. 
 “Agent Parties” has the meaning set forth in
Section 10.02(c). 
 “Agents” means, collectively, the Administrative Agent and the Collateral
Agent. 
 “Aggregate Commitments” mean the Commitments of all the Lenders. 

“Agreement” has the meaning assigned to such term in the preamble to this Agreement. 

“Agreement Currency” has the meaning set forth in Section 10.22(b). 

“Alabama Property” means the Real Property located at 2100 Lakeshore Drive, Birmingham, Alabama. 

“All-In Yield” means, at any time, with respect to any Term Loan or other
Indebtedness, the weighted average yield to stated maturity of such Term Loan or other Indebtedness based on the interest rate or rates applicable thereto and giving effect to all upfront or similar fees or original issue discount payable to the
Lenders or other creditors advancing such Term Loan or other Indebtedness with respect thereto (but not arrangement or underwriting fees paid to an arranger for their account) and to any interest rate “floor” (with original issue discount
and upfront fees, which shall be deemed to constitute like amounts of original issue discount, being equated to interest margins in a manner consistent with generally accepted financial practice based on an assumed four year life to maturity). 

“Alternative Currency” means (a) Euros or Sterling and (b) solely for purposes of Letters of Credit, any Permitted
Additional L/C Currency. 
 “Alternative Currency Exposure” means, at any time, the Dollar Equivalent of (a) the
aggregate principal amounts of all outstanding Revolving Credit Loans made in an Alternative Currency and (b) all L/C Obligations denominated in an Alternative Currency. 

“Alternative Currency Sublimit” means the lesser of (a) $185 million and (b) the aggregate amount of the
Revolving Credit Commitments. The Alternative Currency Sublimit is part of, and not in addition to, the Revolving Credit Facility. 

“Amendment No. 1” means that certain Amendment No. 1 to Credit Agreement, dated as of
October 11, 2017 among the Borrower, the Lenders party thereto, the Administrative Agent and the other parties thereto. 

“Applicable Creditor” has the meaning set forth in Section 10.22(b). 

“Applicable Percentage” means, with respect to any Revolving Credit Lender, the percentage of the total Revolving Credit
Commitments represented by such Revolving Credit Lender’s Revolving Credit Commitment. If the Revolving Credit Commitments have terminated or expired, the Applicable Percentages shall be determined based upon the Revolving Credit Commitments
most recently in effect, giving effect to any assignments. 

  
 3 

 “Applicable Period” has the meaning set forth in the definition of
“Applicable Rate.” 
 “Applicable Rate” means a percentage per annum equal to: 

(a)    with respect to Term Loans, 3.50% in the case of Eurocurrency Rate Loans and 2.50% in the case of
Base Rate Loans. 
 (b)    with respect to Revolving Credit Loans, commitment fees on unused Revolving
Credit Commitments and Letter of Credit fees, as the case may be, the applicable rate set forth in the table below under the caption “Eurocurrency Rate and Letter of Credit Fees”, “Base Rate” or “Unused Commitment Fee
Rate”, respectively, subject to the adjustment as provided in the paragraph set forth beneath the table below: 
 Applicable Rate 

 

															
	 Pricing

Level
	  	 Consolidated

Secured Net

Leverage Ratio
	  	Eurocurrency Rate
and Letter of
Credit Fees	 	 	Base Rate	 	 	Unused
Commitment Fee
Rate	 
	 1
	  	3 1.25 to 1.00	  	 	2.25	% 	 	 	1.25	% 	 	 	0.375	% 
	 2
	  	< 1.25 to 1.00	  	 	2.00	% 	 	 	1.00	% 	 	 	0.375	% 

 Any increase or decrease in the Applicable Rate resulting from a change in the Consolidated Secured Net Leverage Ratio shall
become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.02(a); provided, that the highest pricing level shall apply as of the first
Business Day after the date on which a Compliance Certificate was required to have been delivered but was not delivered, and shall continue to so apply up to and including the date on which such Compliance Certificate is so delivered (and thereafter
the pricing level otherwise determined in accordance with this definition shall apply). 
 In the event that any Compliance Certificate is
shown by the Administrative Agent to be inaccurate (whether as a result of an inaccuracy in the financial statements on which such Compliance Certificate is based, a mistake in calculating the applicable Consolidated Secured Net Leverage Ratio or
otherwise) at any time that this Agreement is in effect and any Revolving Credit Loans or Revolving Credit Commitments are outstanding such that the Applicable Rate for any period (an “Applicable Period”) should have been higher
than the Applicable Rate applied for such Applicable Period, then (i) the Borrower shall promptly (and in no event later than five Business Days thereafter) deliver to the Administrative Agent a corrected Compliance Certificate for such
Applicable Period; (ii) the Applicable Rate shall be determined by reference to the corrected Compliance Certificate (but in no event shall the Revolving Credit Lenders owe any amounts to the Borrower); and (iii) the Borrower shall pay to
the Administrative Agent promptly (and in no event later than five Business Days after the date such corrected Compliance Certificate is delivered) any additional interest owing as a result of such increased Applicable Rate for such Applicable
Period, which payment shall be promptly applied 

  
 4 

 
by the Administrative Agent in accordance with the terms hereof. Notwithstanding anything to the contrary in this Agreement, any nonpayment of such interest as a result of any such inaccuracy
shall not constitute a Default (whether retroactively or otherwise), and no such amounts shall be deemed overdue (and no amounts shall accrue interest at the Default Rate), at any time prior to the date that is five Business Days following the date
such corrected Compliance Certificate is delivered. The Borrower’s Obligations under this paragraph shall survive the termination of the Aggregate Commitments and the repayment of all other Obligations hereunder. 

“Appropriate Lender” means, at any time, (a) with respect to Loans of any Class, the Lenders of such Class and
(b) with respect to Letters of Credit, (i) the relevant L/C Issuers and (ii) the Revolving Credit Lenders. 

“Approved Fund” means any Fund that is administered, advised or managed by (a) a Lender, (b) an Affiliate of a
Lender, or (c) an entity or an Affiliate of an entity that administers, advises or manages a Lender. 
 “Arrangers”
means the Persons identified on the cover page of this Agreement as “joint lead arrangers” and “joint arrangers”; provided, that Merrill Lynch, Pierce, Fenner & Smith Incorporated (“MLPF&S”)
means MLPF&S or any other registered broker-dealer wholly-owned by Bank of America Corporation to which all or substantially all of Bank of America Corporation’s or any of its subsidiaries’ investment banking, commercial lending
services or related businesses may be transferred following the date of this Agreement. 
 “Assignee Group” means two or
more Eligible Assignees that are Affiliates of one another or two or more Approved Funds managed by the same investment advisor. 

“Assignment and Assumption” means an assignment and assumption entered into by a Lender and an Eligible Assignee (with the
consent of any party whose consent is required by Section 10.06(b)(iii), and accepted by the Administrative Agent, in substantially the form of Exhibit D hereto or any other form (including electronic documentation
generated by any electronic platform) approved by the Administrative Agent. 
 “Attorney Costs” means and includes all
reasonable and documented fees, expenses and disbursements of any law firm or other external legal counsel. 
 “Attributable
Indebtedness” means, in respect of any Sale and Lease-Back Transaction, at the time of determination, the present value of the total obligations of the lessee for net rental payments during the remaining term of the lease included in such
Sale and Lease-Back Transaction, including any period for which such lease has been extended or may, at the option of the lessor, be extended. Such present value shall be calculated using a discount rate equal to the rate of interest implicit in
such transaction, determined in accordance with GAAP. 
 “Audited Financial Statements” means the audited combined balance
sheet of the Parent’s Time Inc. publishing segment, prepared on a stand-alone basis, as of each of December 31, 2013, 2012 and 2011, and the related audited combined statements of income, of changes in shareholders’ equity and of cash
flows for the Parent’s Time Inc. publishing segment, prepared on a stand-alone basis, for the fiscal years ended December 31, 2013, 2012 and 2011, respectively. 

  
 5 

 “Auto-Extension Letter of Credit” has the meaning set forth in
Section 2.03(b)(iii). 
 “Bail-In Action” means the
exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution. 

“Bail-In Legislation” means, with respect to any EEA Member Country implementing
Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In
Legislation Schedule. 
 “Base Rate” means for any day a fluctuating rate per annum equal to the highest of
(a) the Federal Funds Rate plus 1/2 of 1.00%, (b) the rate of interest in effect for such day as publicly announced from time to time by the Administrative Agent as its base rate, and (c) the Eurocurrency Rate for a Loan denominated
in Dollars and an Interest Period of one month plus 1.00%; provided, that for purposes of this clause (c), the Base Rate with respect to Term Loans will be deemed not to be less than 2.00%. For the purposes of
clause (b) above, the base rate is a rate set by the Administrative Agent based upon various factors including the Administrative Agent’s costs and desired return, general economic conditions and other factors, and is used as a
reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such base rate announced by the Administrative Agent shall take effect at the opening of business on the day specified in the public
announcement of such change. 
 “Base Rate Loan” means a Loan that bears interest based on the Base Rate. 

“Benefit Plan” means any of (a) an “employee benefit plan” (as defined in ERISA) that is subject to Title I
of ERISA, (b) a “plan” as defined in Section 4975 of the Code or (c) any Person whose assets include (for purposes of 29 CFR § 2510.3-101, as modified by Section 3(42) of
ERISA or otherwise for purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan”. 

“Board of Directors” means (1) with respect to the Borrower or any corporation, the board of directors or managers, as
applicable, of the corporation, or any duly authorized committee thereof; (2) with respect to any partnership, the board of directors or other governing body of the general partner of the partnership or any duly authorized committee thereof;
and (3) with respect to any other Person, the board or any duly authorized committee of such Person serving a similar function. Whenever any provision requires any action or determination to be made by, or any approval of, a Board of Directors,
such action, determination or approval shall be deemed to have been taken or made if approved by a majority of the directors on any such Board of Directors (whether or not such action or approval is taken as part of a formal board meeting or as a
formal board approval). 
 “Borrower” has the meaning assigned to such term in the preamble to this Agreement. 

  
 6 

 “Borrower Materials” has the meaning assigned to such term in
Section 6.02. 
 “Borrowing” means a Revolving Credit Borrowing or a Term Borrowing, as the
context may require. 
 “Business Day” means a day of the year on which banks are required to be open or are not
authorized by law to close in New York City and, if the applicable Business Day relates to any Eurocurrency Rate Loans, on which dealings are carried on in the London interbank market and banks are open for business in London and in the country of
issue of the currency of such Eurocurrency Rate Loan (or, in the case of Eurocurrency Rate Loans denominated in Euros, which is a TARGET Day). 

“Capital Stock” means: 

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

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

(d)    any other interest or participation that confers on a Person the right to receive a share of the
profits and losses of, or distributions of assets of, the issuing Person. 
 “Capitalized Lease Obligation” means, with
respect to any Person, at the time any determination thereof is to be made, the amount of the liability in respect of a Capitalized Lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet
(excluding the footnotes thereto) in accordance with GAAP. The amount of Indebtedness represented by such liability will be the capitalized amount of such liability at the time any determination thereof is to be made as determined on the basis of
GAAP. 
 “Capitalized Leases” means all leases that have been or should be, in accordance with GAAP, recorded as
capitalized leases. 
 “Cash Collateral” has the meaning specified in Section 2.03(g). 

“Cash Collateral Account” means a blocked account at the Administrative Agent (or another commercial bank selected in
compliance with Section 9.09) in the name of the Administrative Agent and under the sole dominion and control of the Administrative Agent, and otherwise established in a manner satisfactory to the Administrative Agent. 

“Cash Collateralize” has the meaning specified in Section 2.03(g). 

  
 7 

 “Cash Equivalents” means: 

(a)    United States dollars; 

(b)    (i) Euros, Canadian dollars, Sterling or any national currency of any member state of the European
Union; and 
 (ii)    any other foreign currency held by the Borrower or any of its Restricted
Subsidiaries in the ordinary course of business; 
 (c)    securities issued or directly and fully and
unconditionally guaranteed or insured by the U.S. government, Canadian government or any member state of the European Union or, in each case, any agency or instrumentality thereof (provided, that full faith and credit obligation of such
country or member state is pledged in support thereof), with maturities of 24 months or less from the date of acquisition; 

(d)    certificates of deposit, time deposits, eurodollar deposits and dollar time deposits with maturities
of one year or less from the date of acquisition thereof, bankers’ acceptances with maturities not exceeding one year and overnight bank deposits, in each case with any commercial bank having capital and surplus of not less than
$500.0 million in the case of U.S. banks and $100.0 million (or the Dollar Equivalent as of the date of determination) in the case of non-U.S. banks; 

(e)    repurchase obligations for underlying securities of the types described in clauses
(c) and (d) above and clause (h) below entered into with any financial institution meeting the qualifications specified in clause (d) above; 

(f)    commercial paper rated at least (i) “P-1” by
Moody’s or at least “A-1” by S&P (or if at any time neither Moody’s nor S&P shall be rating such obligations, an equivalent rating from another Rating Agency) and in each case
maturing within 24 months after the date of creation thereof and (ii) “P-2” by Moody’s or at least “A-2” by S&P (or if at any time
neither Moody’s nor S&P shall be rating such obligations, an equivalent rating from another Rating Agency) and in each case maturing within 12 months after creation thereof; 

(g)    marketable short-term money market and similar securities having a rating of at least “P-2” or “A-2” from either Moody’s or S&P, respectively (or, if at any time neither Moody’s nor S&P shall be rating such obligations, an
equivalent rating from another Rating Agency) and in each case maturing within 24 months after the date of creation thereof; 

(h)    readily marketable direct obligations issued by any state, commonwealth or territory of the United
States, any province of Canada, any member state of the European Union or any political subdivision or taxing authority thereof having an Investment Grade Rating from either Moody’s or S&P (or if at any time neither Moody’s nor S&P
shall be rating such obligations, an equivalent rating from another Rating Agency) with maturities of 24 months or less from the date of acquisition; 

  
 8 

 (i)    Investments with average maturities of 24 months
or less from the date of acquisition in money market funds rated “AAA” (or the equivalent thereof) or better by S&P or “Aaa3” (or the equivalent thereof) or better by Moody’s (or reasonably equivalent ratings of another
internationally recognized rating agency); and 
 (j)    investment funds investing 95% of their assets
in securities of the types described in clauses (a) through (i) above. 
 Notwithstanding the foregoing, Cash
Equivalents shall include amounts denominated in currencies other than those set forth in clauses (a) and (b) above, provided that such amounts are converted into any currency listed in clauses (a) and
(b) as promptly as practicable and in any event within 10 Business Days following the receipt of such amounts. 
 “Casualty
Event” means any event that gives rise to the receipt by the Borrower or any Restricted Subsidiary of any insurance proceeds or condemnation awards in respect of any equipment, fixed assets or real property (including any improvements
thereon) to replace or repair such equipment, fixed assets or real property. 
 “CERCLA” means the Comprehensive
Environmental Response, Compensation and Liability Act of 1980, as subsequently amended. 
 “CERCLIS” means the
Comprehensive Environmental Response, Compensation and Liability Information System maintained by the U.S. Environmental Protection Agency. 

“CFC” means a “controlled foreign corporation” within the meaning of Section 957 of the Code. 

“CFC Holdco” means a Domestic Subsidiary or a Foreign Subsidiary that is a disregarded entity for U.S. federal income tax
purposes, in each case substantially all of the assets of which consist, directly or indirectly, of Equity Interests in (i) one or more Foreign Subsidiaries that are CFCs or (ii) any other Person described in this definition. 

“Change in Law” means the occurrence, after the date of this Agreement, of any of the following: (a) the adoption or
taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any Governmental Authority, or (c) the making or
issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided, that notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and
Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel
Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law,” regardless of
the date enacted, adopted or issued. 

  
 9 

 “Change of Control” means the occurrence of any of the following, in each case
excluding any of the Transactions: 
 (a)    the sale, lease or transfer (other than by way of merger or
consolidation), in one or a series of related transactions, of all or substantially all of the assets of the Borrower and its Restricted Subsidiaries, taken as a whole, to any Person other than the Borrower or a Restricted Subsidiary; 

(b)    the Borrower becomes aware of (by way of a report or any other filing pursuant to Section 13(d)
of the Exchange Act, proxy, vote, written notice or otherwise) the acquisition by any Person or “group” (within the meaning of Rules 13d-3 and 13d-5 under
the Exchange Act), in a single transaction or in a related series of transactions, of “beneficial ownership” (within the meaning of Rule 13d-3 under the Exchange Act, except that in calculating the
beneficial ownership of any particular Person or “group”, such Person or “group” will not be deemed to have beneficial ownership of any securities that such Person or “group” has the right to acquire or vote only upon
the happening of any future event or contingency, including the passage of time, that has not yet occurred) of 50% or more of the total voting power of the Voting Stock of the Borrower (determined on a fully diluted basis but without giving effect
to contingent voting rights that have not yet vested) (other than a transaction following which holders of securities that represented 100% of the Voting Stock of the Borrower immediately prior to such transaction (or other securities into which
such securities are converted as part of such transaction) own, directly or indirectly, at least a majority of the voting power of the Voting Stock of the surviving Person in such transaction immediately after such transaction); 

(c)    prior to the Distribution Date, the Parent fails to own 100% of the Capital Stock of the Borrower;

 (d)     the adoption of a plan of liquidation and dissolution of the Borrower; or 

(e)    a “change of control” (or similar event) shall occur under the Senior Notes Indenture or
the 2025 Senior Notes Indenture or any Indebtedness for borrowed money or any Disqualified Stock, in each case incurred by any Loan Party as permitted under Section 7.02 with an aggregate outstanding principal amount in
excess of the Threshold Amount. 
 “Citibank” has the meaning set forth in the preamble to this Agreement. 

“Class” means (a) when used with respect to Lenders, whether such Lenders are Revolving Credit Lenders or Term Lenders,
(b) when used with respect to Commitments, whether such Commitments are Revolving Credit Commitments or Term Commitments, and (c) when used with respect to Loans or a Borrowing, whether such Loans, or the Loans comprising such Borrowing,
are Revolving Credit Loans or Term Loans. Additional Classes may be established as provided in this Agreement. 
 “Closing
Date” the date on which the conditions precedent set forth in Section 4.02 are satisfied or duly waived. 

  
 10 

 “Closing Date Transactions” means, collectively (a) the funding of the
Term Loans on the Closing Date and the execution and delivery of Loan Documents to be entered into on the Closing Date, (b) the issuance of the Senior Notes, as applicable, (c) the IPC Purchase or the IPC Note Repayment, as applicable and
(d) the payment of Closing Date Transaction Expenses. 
 “Closing Date Transaction Expenses” means any fees or
expenses incurred or paid by the Borrower (or any direct or indirect parent of the Borrower) or any of its Subsidiaries in connection with the Closing Date Transactions (including expenses in connection with hedging transactions), this Agreement and
the other Loan Documents and the transactions contemplated hereby and thereby. 
 “Code” means the U.S. Internal Revenue
Code of 1986, as amended. 
 “Collateral” means the “Collateral” as defined in the Security Agreement, all the
“Collateral” or “Pledged Assets” as defined in any other Collateral Document and any other assets a Lien in which is granted or purported to be granted pursuant to any Collateral Document. 

“Collateral Agent” means Citibank, in its capacity as collateral agent or pledgee in its own name under any of the Loan
Documents, or any successor collateral agent. 
 “Collateral Documents” means, collectively, the Security Agreement, each
of the Mortgages (if any), collateral assignments, security agreements, pledge agreements, the Intellectual Property Security Agreements or other similar agreements delivered to the Administrative Agent and the Lenders pursuant to
Section 6.11 or Section 6.13, and each other agreement, instrument or document that creates or purports to create a Lien securing any or all of the Obligations in favor of the Collateral Agent for
the benefit of the Secured Parties. 
 “Commitment” means a Term Commitment or a Revolving Credit Commitment of any
Class or of multiple Classes, as the context may require. 
 “Committed Loan Notice” means a notice of (a) a
Borrowing, (b) a conversion of Loans from one Type to the other, or (c) a continuation of Eurocurrency Rate Loans, pursuant to Section 2.02(a), which shall be substantially in the form of Exhibit A hereto.

 “Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time,
and any successor statute. 
 “Compliance Certificate” means a certificate substantially in the form of Exhibit C
hereto. 

  
 11 

 “Consolidated Adjusted EBITDA” means, with respect to any Person for any
period, the Consolidated Net Income of such Person for such period: 
 (a)    increased (without duplication) by (to
the extent the same were deducted (and not added back) in computing such Consolidated Net Income (other than clause (x)): 

(i)    provision for taxes based on income or profits or capital gains, including federal, state,
provincial, local, foreign, non-U.S. franchise, excise, value added and similar taxes, foreign withholding taxes and taxes (whether paid in full or in installments) incurred as a result of or in order to
consummate the Transactions, of such Person paid or accrued during such period, including any penalties and interest relating to such taxes or arising from any tax examinations; plus 

(ii)    Consolidated Interest Expense of such Person for such period; plus 

(iii)    Consolidated Depreciation and Amortization Expense of such Person for such period; plus

 (iv)    any fees, premiums, expenses or charges related to (x) the Transactions, the Spin-Off Documents or the First Amendment Effective Date Transactions, (y) any actual, proposed or contemplated Equity Offering, Permitted Investment, acquisition, Disposition, recapitalization, the incurrence
or repayment of Indebtedness permitted to be incurred by this Agreement (including a refinancing thereof) or (z) any amendments, consents, waivers or other modifications relating to the Senior Notes, the 2025 Senior Notes, the Transactions, the
Spin-Off Documents or the Facilities (whether or not consummated or successful); plus 

(v)    the amount of any restructuring charge, accrual or reserve, integration cost or other business
optimization expense, including any restructuring costs incurred in connection with the Transactions, acquisitions, mergers or consolidations after the Closing Date and any other restructuring expenses, severance expenses, one-time compensation charges, post-retirement employee benefits plans, any expenses relating to reconstruction, decommissioning or recommissioning fixed assets for alternate use, expenses or charges relating to
facility closing costs, acquisition integration costs and signing, retention or completion bonuses or expenses; plus 

(vi)    any other non-cash charges or expenses, including any
write-offs or write-downs and non-cash compensation charges or expenses recorded from grants of stock appreciation or similar rights, stock options, restricted stock or other rights (provided that if
any such non-cash charges represent an accrual or reserve for potential cash items in any future period, the cash payment in respect thereof in such future period shall be subtracted from Consolidated Adjusted
EBITDA in such future period to the extent paid, but excluding from this proviso, for the avoidance of doubt, amortization of a prepaid cash item that was paid in a prior period); plus 

  
 12 

 (vii)    the amount of any minority interest expense
consisting of Subsidiary income attributable to minority equity interests of third parties in any non-Wholly Owned Subsidiary; plus 

(viii)    the amount of loss on sale of receivables and related assets to any Receivables Subsidiary in
connection with a Receivables Facility; plus 
 (ix)    any costs or expenses incurred by the
Borrower or a Restricted Subsidiary pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or agreement or any stock subscription or shareholder agreement, to the extent that such costs or
expenses are funded with cash proceeds contributed to the capital of the Borrower or net cash proceeds of an issuance of Equity Interest of the Borrower (other than Disqualified Stock) solely to the extent that such net cash proceeds are excluded
from the calculation set forth in Section 7.05(a)(iii); plus 

(x)    the amount of cost savings, operating expense reductions, other operating improvements and
initiatives and synergies projected by the Borrower in good faith to result from actions taken or to be taken in connection with any Investment, acquisition, Disposition, merger, amalgamation, consolidation, discontinued operations, operational
changes or other action being given pro forma effect (which will be added to Consolidated Adjusted EBITDA as so projected until fully realized and calculated on a Pro Forma Basis as though such cost savings, operating expense reductions,
other operating improvements and initiatives and synergies had been realized on the first day of such period), net of the amount of actual benefits realized during such period from such actions; provided that (x) such actions have been
taken or are expected to be taken within 12 months after the consummation of the Investment, acquisition, Disposition, merger, amalgamation, consolidation, discontinued operations, operational change or other action expected to result in such cost
savings or other benefits, (y) such cost savings are reasonably identifiable and factually supportable (in the good faith determination of the Borrower) and (z) the aggregate amount of cost savings, operating expense reductions, other
operating improvements and initiatives and synergies added back pursuant to this clause (x) in any Test Period shall not exceed 15% of Consolidated Adjusted EBITDA (prior to giving effect to such addbacks); 

(b)    decreased by (without duplication) the amount of non-cash gains increasing
such Consolidated Net Income, excluding (i) any non-cash gains to the extent they represent the reversal of an accrual or reserve for a potential cash item that reduced Consolidated Adjusted EBITDA in any
prior period and (ii) any non-cash gains in respect of which cash was actually received in a prior period so long as such cash did not increase Consolidated Adjusted EBITDA in such prior period; and
(iii) the accrual of revenue in the ordinary course of business; and 

  
 13 

 (c)    increased or decreased by (without duplication): 

(A)    any net loss or gain resulting in such period from Hedging Obligations and the application of
Financial Accounting Codification No. 815-Derivatives and Hedging; and 

(B)    any net loss or gain resulting in such period from currency translation gains or losses related to
currency remeasurements of Indebtedness (including any net loss or gain resulting from hedge agreements for currency exchange risk). 

“Consolidated Depreciation and Amortization Expense” means, with respect to any Person, for any period, the total amount of
depreciation and amortization expense, including the amortization of intangibles and deferred financing fees or debt issuance costs, of such Person and its Restricted Subsidiaries for such period on a consolidated basis and otherwise determined in
accordance with GAAP. 
 “Consolidated Interest Expense” means, with respect to any Person for any period, without
duplication, the sum of: 
 (a)    consolidated interest expense of such Person and its Restricted
Subsidiaries for such period to the extent such expense was deducted (and not added back) in computing Consolidated Net Income of such Person (including (i) amortization of original issue discount resulting from the issuance of Indebtedness at
less than par, (ii) all commissions, discounts and other fees and charges owed with respect to letters of credit or bankers acceptances, (iii) non-cash interest expense (but excluding any non-cash interest expense attributable to the movement in the mark to market valuation of Hedging Obligations or other derivative instruments pursuant to GAAP), (iv) the interest component of Capitalized Lease
Obligations, (v) imputed interest with respect to Attributable Indebtedness, and (vi) net payments, if any, pursuant to interest rate Hedging Obligations with respect to Indebtedness, and excluding (1) amortization of deferred
financing fees, debt issuance costs, commissions, fees and expenses, (2) any expensing of bridge, commitment and other financing fees and (3) commissions, discounts, yield and other fees and charges (including any interest expense) related
to any Receivables Facility); plus 
 (b)    consolidated capitalized interest of such Person and
such Subsidiaries for such period, whether paid or accrued; plus 
 (c)    whether or not treated as interest
expense in accordance with GAAP, all cash dividends or other distributions accrued (excluding dividends payable solely in Equity Interests (other than Disqualified Stock) of the Borrower) on any series of Disqualified Stock or any series of
Preferred Stock during such period (other than dividends or distributions to the Borrower or a Restricted Subsidiary). 
 For purposes of
this definition, interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by the Borrower to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP. 

  
 14 

 “Consolidated Net Income” means, with respect to any Person for any period, the
aggregate of the Net Income of such Person and its Restricted Subsidiaries for such period, on a consolidated basis, and otherwise determined in accordance with GAAP; provided, however, that, without duplication: 

(a)    any after-tax effect of extraordinary,
non-recurring or unusual gains or losses or expenses (including fees and expenses relating to (i) the Transactions, (ii) severance, relocation and transition costs and (iii) any rebranding or
corporate name change) shall be excluded; 
 (b)    the cumulative effect of a change in accounting principles during
such period shall be excluded; 
 (c)    any after-tax effect of income (or
loss) from disposed or discontinued operations and any net after-tax gains (or losses) on disposal of disposed, abandoned or discontinued operations shall be excluded; 

(d)    any after-tax effect of gains (or losses) (less all fees and
expenses relating thereto) attributable to asset Dispositions other than in the ordinary course of business, as determined in good faith by the Borrower, shall be excluded; 

(e)    any impairment charge or asset write-off or write-down, including
impairment charges, write-offs or write-downs related to goodwill, intangible assets, long-lived assets, investments in debt and equity securities, in accordance with GAAP or as a result of a change in law or regulation, and the amortization of
intangibles arising pursuant to GAAP shall be excluded; 
 (f)    the Net Income for such period of any Person that is
not a Subsidiary, or is an Unrestricted Subsidiary, or that is accounted for by the equity method of accounting, shall be excluded; provided that Consolidated Net Income of the Borrower shall be increased by the amount of dividends or
distributions or other payments that are actually paid in cash (or to the extent converted into cash or Cash Equivalents) to the Borrower or a Restricted Subsidiary in respect of such period; 

(g)    the Net Income for such period of any Non-Guarantor Subsidiary shall be
excluded to the extent of any portion of its Net Income that may not be transferred (including by way of any one or more of the following (i) dividends or similar distributions, (ii) returns of capital, (iii) loans or advances or the
repayment thereof or (iv) other conveyances) at the date of determination without any prior governmental approval (which has not been obtained) and without violating, directly or indirectly, the terms of its charter or any agreement,
instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that Restricted Subsidiary or its stockholders, unless such restriction has been legally waived; provided that Consolidated Net Income of the Borrower
will be increased by the amount of dividends or other distributions or other payments actually paid in cash (or to the extent converted into cash or Cash Equivalents) to the Borrower or a Restricted Subsidiary thereof in respect of such period; 

(h)    any (i) non-cash compensation charge or expense, including any such
charge or expense arising from the grants of stock appreciation or similar rights, employee 

  
 15 

 
benefit plans or agreements, stock options, restricted stock or other rights, and any non-cash deemed finance charges or expenses in respect of any pension
liabilities or other retiree provisions or on the revaluation of any benefit plan obligation and any non-cash charges or expenses in respect of curtailments, discontinuations or modifications to pension plans
and (ii) income (loss) attributable to deferred compensation plans or trusts shall be excluded; 
 (i)    any after-tax effect of income (or loss) from the early extinguishment or cancellation of Indebtedness or Hedging Obligations or other derivative instruments shall be excluded; 

(j)    any unrealized foreign currency translation or transaction gains or losses (or similar charges) (i) in
respect of Indebtedness of any Person denominated in a currency other than the functional currency of such Person, (ii) relating to translation of assets and liabilities denominated in foreign currencies and (iii) in respect of
Indebtedness or other obligations of the Borrower or any Restricted Subsidiary owing to the Borrower or any Restricted Subsidiary shall be excluded; 

(k)    accruals and reserves for liabilities or expenses that are established or adjusted as a result of the
Transactions, calculated in accordance with GAAP, within 18 months after the Distribution Date shall be excluded; 

(l)    any fees and expenses incurred during such period, or any amortization thereof for such period, in connection with
the Transactions and any acquisition, Investment, Disposition, issuance or repayment of Indebtedness, issuance of Equity Interests, refinancing transaction or amendment or modification of any debt instrument (in each case, including any such
transaction consummated prior to the Closing Date and any such transaction undertaken but not completed) and any charges or non-recurring merger costs incurred during such period as a result of any such
transaction shall be excluded; 
 (m)    losses, charges and expenses that are covered by indemnification or other
reimbursement provisions in connection with any Investment, acquisition, sale, conveyance, transfer or other Disposition of assets will be excluded to the extent actually reimbursed, or, so long as such Person has made a determination that a
reasonable basis exists for indemnification or reimbursement, but only to the extent that such amount is in fact indemnified or reimbursed within 365 days of such determination (with a deduction in the applicable future period for any amount so
added back to the extent not so indemnified or reimbursed within such 365 days) shall be excluded; 
 (n)    losses,
charges and expenses with respect to liability or casualty events or business interruption, to the extent covered by insurance and actually reimbursed, or, so long as such Person has made a determination that a reasonable basis exists for
reimbursement by the insurer and such amount (A) is not denied by the applicable carrier in writing and (B) is in fact reimbursed within 365 days of the date on which such liability was discovered or such casualty event or business
interruption occurred (with a deduction in the applicable future period for any amount so added back to the extent not so reimbursed within 365 days) shall be excluded; 

  
 16 

 (o)    the effects of purchase accounting, fair value accounting or
recapitalization accounting adjustments (including the effects of such adjustments pushed down to such Person and its Restricted Subsidiaries) resulting from the application of purchase accounting, fair value accounting or recapitalization
accounting in relation to the Transactions or any acquisition consummated before or after the Closing Date, and the amortization, write-down or write-off of any amounts thereof, shall be excluded; 

(p)    all non-cash gains, losses, expenses or charges attributable to the
movement in the mark-to-market valuation of Hedging Obligations or other derivative instruments shall be excluded; and 

(q)    any deferred tax expense associated with tax deductions or net operating losses as a result of the Transactions,
or the release of any valuation allowance related to such item shall be excluded. 
 “Consolidated Net Leverage Ratio”
means, as of any date of determination, the ratio of (a) the Consolidated Total Net Debt of the Borrower and its Restricted Subsidiaries on such date, to (b) Consolidated Adjusted EBITDA of the Borrower and its Restricted Subsidiaries for
the most recently ended Test Period ending immediately prior to such date for which Required Financial Statements have been delivered. 

In the event that the Borrower or any of its Restricted Subsidiaries (i) incurs, assumes, guarantees, redeems, retires or extinguishes
any Indebtedness (other than Indebtedness repaid, redeemed, retired or extinguished under any revolving credit facility (including the Revolving Credit Facility), except to the extent that such revolving credit facility is permanently reduced and
has not been replaced) or (ii) issues or redeems Disqualified Stock or Preferred Stock, in each case subsequent to the period for which the Consolidated Net Leverage Ratio is being calculated but prior to or substantially simultaneously with
the event for which the calculation of the Consolidated Net Leverage Ratio is made (the “Consolidated Net Leverage Ratio Calculation Date”), then (x) the Consolidated Total Net Debt shall be calculated giving pro forma
effect to such incurrence, assumption, guarantee, redemption, retirement or extinguishment of Indebtedness, or such issuance or redemption of Disqualified Stock or Preferred Stock, as if the same had occurred as of the date of determination of
Consolidated Total Net Debt referred to in clause (a) above and (y) the Consolidated Adjusted EBITDA shall be calculated giving pro forma effect to such incurrence, assumption, guarantee, redemption, retirement or extinguishment of
Indebtedness, or such issuance or redemption of Disqualified Stock or Preferred Stock, as if the same had occurred as of the beginning of the applicable four fiscal quarter period. 

For purposes of making the computation referred to above, Investments, acquisitions, Dispositions, mergers, amalgamations, consolidations and
discontinued operations in each case with respect to a business (as such term is used in Regulation S-X Rule 11-01), a company, a segment, an operating
division or unit or line of business that the Borrower or any of its Restricted Subsidiaries has determined to make and/or made during the Test Period or subsequent to such reference period and on or prior to or simultaneously with the Consolidated
Net Leverage Ratio Calculation Date (each, for purposes of this definition, a “pro forma event”) shall be calculated on a Pro Forma Basis assuming that all such Investments, acquisitions,

  
 17 

 
Dispositions, mergers, amalgamations, consolidations and discontinued operations had occurred on the first day of such Test Period. If since the beginning of such Test Period any Person that
subsequently became a Restricted Subsidiary or was merged with or into the Borrower or any of its Restricted Subsidiaries since the beginning of such Test Period shall have made or effected any Investment, acquisition, Disposition, merger,
amalgamation, consolidation or discontinued operation, in each case with respect to a business (as such term is used in Regulation S-X Rule 11-01), a company, a segment,
an operating division or unit or line of business that would have required adjustment pursuant to this definition, then the Consolidated Net Leverage Ratio shall be calculated giving pro forma effect thereto for such Test Period as if such
Investment, acquisition, Disposition, merger, amalgamation, consolidation or discontinued operation had occurred at the beginning of such Test Period. 

For purposes of this definition, whenever pro forma effect is to be given to a transaction, the pro forma calculations shall be
made in good faith by a responsible financial or accounting officer of the Borrower. Any such pro forma calculation may include adjustments appropriate, in the good faith determination of the Borrower as set forth in an officer’s
certificate, to reflect reasonably identifiable and factually supportable operating expense reductions and other operating improvements or synergies reasonably expected to result from any action taken or expected to be taken within 12 months after
the date of any pro forma event; provided, that (x) no such amounts shall be included pursuant to this paragraph to the extent duplicative of any amounts that are otherwise added back in computing Consolidated Adjusted EBITDA with
respect to such period and (y) such amounts shall be subject to the limitations contained in clause (a)(x) of the definition of Consolidated Adjusted EBITDA. 

If any Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest on such Indebtedness shall be
calculated as if the rate in effect on the date of determination had been the applicable rate for the entire period (taking into account any Hedging Obligations applicable to such Indebtedness). 

“Consolidated Net Leverage Ratio Calculation Date” has the meaning specified in the definition of “Consolidated Net
Leverage Ratio”. 
 “Consolidated Secured Net Leverage Ratio” means, as of the date of determination, the ratio of
(a) the Consolidated Total Net Debt of the Borrower and its Restricted Subsidiaries that is secured by a Lien on any property or assets of the Borrower or any of its Restricted Subsidiaries as of such date, to (b) Consolidated Adjusted
EBITDA of the Borrower and its Restricted Subsidiaries for the most recently ended Test Period for which Required Financial Statements have been delivered, in each case with such pro forma adjustments to the Consolidated Total Net Debt and
Consolidated Adjusted EBITDA as are appropriate and consistent with the pro forma adjustment provisions set forth in the definition of Consolidated Net Leverage Ratio as determined in good faith by the Borrower. 

“Consolidated Total Net Debt” means, as of any date of determination, the sum, without duplication, of (a) the total
amount of (i) Indebtedness for borrowed money, (ii) Indebtedness evidenced by bonds, notes (other than notes in favor of trade creditors evidencing trade payables incurred in the ordinary course of business), debentures or other similar
instruments for the payment of which such Person is liable, (iii) Capitalized Lease Obligations, 

  
 18 

 
(iv) the Senior Notes and the 2025 Senior Notes and (v) guarantees of the foregoing, in each case of the Borrower and of its Restricted Subsidiaries (excluding (x) Indebtedness in
respect of letters of credit (including Letters of Credit) (in an aggregate face amount for all such letters of credit not to exceed $100 million) and bankers’ acceptances (or, without duplication, reimbursement agreements in respect thereof)
and for the avoidance of doubt, performance and surety bonds not constituting bonds evidencing indebtedness for borrowed money, except to the extent of unreimbursed amounts drawn thereunder, (y) intercompany Indebtedness and
(z) Indebtedness in respect of Hedging Obligations not yet due and owing) outstanding on such date; minus (b) up to $250 million of Eligible Cash included in the consolidated balance sheet of the Borrower and its Restricted
Subsidiaries (x) for purposes of determining compliance with Section 7.08, as of the last day of the relevant Test Period or (y) otherwise, as of the most recently ended Test Period for which Required Financial
Statements have been delivered (with such pro forma adjustments as are appropriate and consistent with the pro forma adjustment provisions set forth in the definition of “Consolidated Net Leverage Ratio” as determined in good
faith by the Borrower); plus (c) the greater of (i) the aggregate liquidation value and (ii) maximum fixed repurchase price without regard to any change of control or redemption premiums of all Disqualified Stock of the
Borrower and the Subsidiary Guarantors and all Preferred Stock of Restricted Subsidiaries, in each case determined on a consolidated basis in accordance with GAAP; provided that (1) for purposes of determining the Consolidated Secured
Net Leverage Ratio in connection with the incurrence of any Incremental Term Loans incurred pursuant to Section 2.13 or any Permitted Debt Offerings incurred pursuant to Section 7.02(b)(xxi) only,
the cash proceeds of such Incremental Term Loans and/or Permitted Debt Offering being incurred shall not be deemed to be included on the consolidated balance sheet of the Borrower and its Restricted Subsidiaries and (2) for purposes of this
definition, the “maximum fixed repurchase price” of any Disqualified Stock or Preferred Stock that does not have a fixed repurchase price shall be calculated in accordance with the terms of such Disqualified Stock or Preferred Stock as if
such Disqualified Stock or Preferred Stock were purchased on any date on which Consolidated Total Net Debt shall be required to be determined pursuant to this Agreement, and if such price is based upon, or measured by, the fair market value of such
Disqualified Stock or Preferred Stock, such fair market value shall be the fair market value (as determined in good faith by the Borrower). 

“Contingent Obligations” means, with respect to any Person, any obligation of such Person guaranteeing any leases, dividends
or other obligations that do not constitute Indebtedness (“primary obligations”) of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, including any obligation of such Person,
whether or not contingent: 
 (a)    to purchase any such primary obligation or any property constituting
direct or indirect security therefor; 
 (b)    to advance or supply funds: 

(A)    for the purchase or payment of any such primary obligation, or 

(B)    to maintain working capital or equity capital of the primary obligor or otherwise to maintain the
net worth or solvency of the primary obligor; or 

  
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 (c)    to purchase property, securities or services primarily
for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation against loss in respect thereof. 

“Contractual Obligation” means, as to any Person, any provision of any security issued by such Person or of any agreement,
instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 

“Control” has the meaning specified in the definition of “Affiliate.” 

“Credit Agreement Refinancing Indebtedness” means any (a) Permitted Pari Passu Secured Refinancing Debt,
(b) Permitted Junior Secured Refinancing Debt, (c) Permitted Unsecured Refinancing Debt or (d) Indebtedness incurred hereunder pursuant to a Refinancing Amendment, in each case, issued, incurred or otherwise obtained (including by
means of the extension or renewal of existing Indebtedness) in exchange for, or to extend, renew, replace, repurchase, retire or refinance, in whole or part, existing Loans or Commitments hereunder, or any then-existing Credit Agreement Refinancing
Indebtedness (“Refinanced Debt”); provided, that (i) such exchanging, extending, renewing, replacing, repurchasing, retiring or refinancing Indebtedness is in an original aggregate principal amount not greater than the
aggregate principal amount of the Refinanced Debt except by an amount equal to unpaid accrued interest and premium (including tender premium) and penalties thereon plus reasonable upfront fees and OID on such exchanging, extending, renewing,
replacing, repurchasing, retiring or refinancing Indebtedness, plus other reasonable and customary fees and expenses in connection with such exchange, modification, refinancing, refunding, renewal, replacement, repurchase, retirement or
extension and (ii) such Refinanced Debt shall be repaid, repurchased, retired, defeased or satisfied and discharged, and all accrued interest, fees, premiums (if any) and penalties in connection therewith shall be paid, substantially
concurrently with the date such Credit Agreement Refinancing Indebtedness is issued, incurred or obtained. 
 “Credit
Extension” means each of the following: (a) a Borrowing and (b) an L/C Credit Extension. 
 “Debtor Relief
Laws” means the United States Bankruptcy Code and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization or similar debtor relief Laws
of the United States or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally. 

“Declined Proceeds” has the meaning set forth in Section 2.04(b)(v). 

“Default” means any event that is, or with the passage of time or the giving of notice or both would be, an Event of
Default. 
 “Default Rate” means an interest rate equal to (a) the Base Rate plus (b) the Applicable
Rate, if any, applicable to Base Rate Loans plus (c) 2.00% per annum; provided, that with respect to a Eurocurrency Rate Loan, the Default Rate shall be an interest rate equal to the interest rate (including any Applicable Rate)
otherwise applicable to such Loan plus 2.00% per annum, in each case, to the fullest extent permitted by applicable Laws. 

  
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 “Defaulting Lender” means, subject to
Section 2.16(d), any Lender that (a) has failed to fund any portion of the Term Loans, Revolving Credit Loans or participations in L/C Obligations required to be funded by it hereunder within two Business Days of the
date required to be funded by it hereunder, unless subsequently cured or unless such Lender notifies the Administrative Agent and the Borrower in writing that such failure is the result of such Lender’s good faith determination that one or more
conditions precedent to funding (which conditions precedent, together with the applicable default or breach of a representation, if any, shall be specifically identified in such writing) has not been satisfied, (b) has otherwise failed to pay
over to the Administrative Agent or any other Lender any other amount required to be paid by it hereunder within two Business Days of the date when due, unless the subject of a good faith dispute or subsequently cured, (c) has notified the
Borrower or the Administrative Agent or an L/C Issuer in writing that it does not intend to comply with its funding obligations hereunder or has made a public statement to that effect with respect to its funding obligations hereunder or generally
under agreements in which it commits to extend credit (unless such writing or public statement relates to such Lender’s obligation to fund a Loan or L/C Obligation hereunder and states that such position is based on such Lender’s good
faith determination that one or more conditions precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in writing or public statement) cannot be satisfied), (d) has failed, within
three Business Days after written request by the Administrative Agent, an L/C Issuer or the Borrower to confirm in a manner satisfactory to the Administrative Agent, such L/C Issuer or the Borrower that it will comply with its funding obligations
hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (d) upon receipt of such confirmation by the Administrative Agent, such L/C Issuer or the Borrower), or (e) has, or has a
direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, (ii) had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with
reorganization or liquidation of its business or a custodian appointed for it, (iii) taken any action in furtherance of, or indicated its consent to, approval of or acquiescence in any such proceeding or appointment or (iv) become the
subject of a Bail-In Action; provided, that a Lender shall not be a Defaulting Lender solely by virtue of (1) the ownership or acquisition of any equity interest in that Lender or any direct or
indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or
writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender or (2) an Undisclosed Administration. 

“Designated Jurisdiction” means any country or territory to the extent that such country or territory itself is the subject
of any Sanction. 
 “Designated Non-cash Consideration” means the fair market
value (as determined in good faith by the Borrower) of non-cash consideration received by the Borrower or any of its Restricted Subsidiaries in connection with a Disposition that is so designated as Designated
Non-cash Consideration pursuant to an officer’s certificate setting forth the basis of such valuation, less the amount of cash or Cash Equivalents received in connection with a subsequent sale of
or conversion of or collection on such Designated Non-cash Consideration. 

  
 21 

 “Disposition” or “Dispose” means: 

(a)    the sale, conveyance, transfer or other disposition, whether in a single transaction or a series of
related transactions, of property or assets (including by way of a Sale and Lease-Back Transaction) of the Borrower or any of its Restricted Subsidiaries (each referred to in this definition as a “disposition”); or 

(b)    the issuance or sale of Equity Interests of any Restricted Subsidiary (other than Preferred Stock of
Restricted Subsidiaries issued in compliance with Section 7.02 and the issuance or sale of Equity Interests representing directors’ qualifying shares or shares or interests required to be held by foreign nationals or
other third parties to the extent required by applicable law), whether in a single transaction or a series of related transactions. 

“Disposition Deficiency” means the excess, if any, of (a) the fair market value (as determined in good faith by the
Borrower) of any property or asset that is Disposed of by any Loan Party to any Non-Guarantor Subsidiary pursuant to Section 7.04(e) over (b) the fair market value (as determined
in good faith by the Borrower) of the consideration received by such Loan Party in respect of such Disposition. 
 “Disqualified
Stock” means, with respect to any Person, any Capital Stock of such Person which, by its terms, or by the terms of any security into which it is convertible or for which it is putable or exchangeable, or upon the happening of any event
(1) matures or is mandatorily redeemable (other than solely as a result of a change of control or asset sale) pursuant to a sinking fund obligation or otherwise, or (2) is redeemable at the option of the holder thereof (other than solely
as a result of a change of control or asset sale), in whole or in part, in each case prior to the date that is 91 days after the earlier of the Latest Maturity Date at the time of issuance of such Capital Stock or the date the Loans are no
longer outstanding; provided, however, that only the portion of Capital Stock which so matures or is mandatorily redeemable, is so putable, convertible or exchangeable or is so redeemable at the option of the holder thereof prior to
such date shall be deemed to be Disqualified Stock; provided further, however, that if such Capital Stock is issued to any employee or any plan for the benefit of employees of the Borrower or its Subsidiaries or by any such plan to
such employees, such Capital Stock shall not constitute Disqualified Stock solely because it may be required to be repurchased by the Borrower or its Subsidiaries in order to satisfy applicable statutory or regulatory obligations or as a result of
any such employee’s termination, death or disability; provided further, however, that any class of Capital Stock of such Person that by its terms authorizes such Person to satisfy its obligations thereunder by delivery of
Capital Stock that is not Disqualified Stock shall not be deemed to be Disqualified Stock. 
 “Distribution” means the
Parent’s distribution of the shares of the Borrower’s common stock to the Parent’s stockholders. 
 “Distribution
Date” means the date on which the Distribution is made. 
 “Dollar” and “$” mean lawful money of
the United States. 
 “Dollar Amount” has the meaning set forth in Section 2.03(p)(iv). 

  
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 “Dollar Equivalent” means, of any amount expressed, at the time of
determination thereof, (a) if such amount is expressed in Dollars, such amount, and (b) if such amount is expressed in any Alternative Currency, the equivalent amount thereof in Dollars as determined by the Administrative Agent at such
time on the basis of the Exchange Rate in effect on the date that is three Business Days prior to the date of such determination for the purchase of Dollars with such Alternative Currency. 

“Domestic Subsidiary” means any Restricted Subsidiary that is organized or existing under the laws of the United States, any
state thereof or the District of Columbia. 
 “Dutch Auction” means an auction conducted by the Borrower or any Restricted
Subsidiary in order to purchase Term Loans of any Class as contemplated by Section 10.06(i), which auction shall be open to all Term Lenders of such Class on a pro rata basis and shall be conducted in accordance
with customary Dutch auction procedures reasonably established by the Administrative Agent and acceptable to the Borrower. 
 “EEA
Financial Institution” means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member
Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of
this definition and is subject to consolidated supervision with its parent. 
 “EEA Member Country” means any of the
member states of the European Union, Iceland, Liechtenstein, and Norway. 
 “EEA Resolution Authority” means any public
administrative authority or any person entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

“Eligible Assignee” means and includes a commercial bank, an insurance company, a finance company, a financial institution,
any Fund or any other “accredited investor” (as defined in Regulation D of the Securities Act) other than a Person engaged in a Similar Business to the Borrower or its Subsidiaries (which Persons shall be determined in good faith by the
Borrower and identified to the Administrative Agent in writing) but in any event excluding (x) the Borrower and its Affiliates and Subsidiaries, (y) natural persons and (z) any Defaulting Lender. 

“Eligible Cash” means any cash and Cash Equivalents held by (a) the Borrower or a Subsidiary Guarantor or (b) any Non-Guarantor Subsidiary, but only to the extent that such cash and Cash Equivalents held by such Non-Guarantor Subsidiary in excess of the amount of Indebtedness of such Non-Guarantor Subsidiary included in Consolidated Total Net Debt (before subtracting Eligible Cash) are reduced by the amount of taxes (if any) that would be incurred (as determined assuming a tax rate of 35% or, if
less, the highest U.S. corporate tax rate then in effect at that time) if such cash and Cash Equivalents were to be transferred to (i) the Borrower or a Subsidiary Guarantor or (ii) another
Non-Guarantor Subsidiary; provided that, in the case of clause (ii), any such after-tax cash and Cash Equivalents will only qualify as “Eligible
Cash” 

  
 23 

 
hereunder to the extent that the amount of cash and Cash Equivalents that would be held by such other Non-Guarantor Subsidiary after giving effect to such
deemed transfer is not in excess of the amount of its Indebtedness included in Consolidated Total Net Debt (before subtracting Eligible Cash). In determining any taxes that would be incurred for these purposes, the Borrower may select among the
group of eligible transferees (and the manner in which transfers could be effected) so as to minimize any taxes that would be deemed incurred. 

“Employee Matters Agreement” means the Employee Matters Agreement between the Parent and the Borrower, to be dated on or
prior to the Distribution Date. 
 “EMU” means economic and monetary union as contemplated in the Treaty on European
Union. 
 “Environment” means indoor air, ambient air, surface water, groundwater, drinking water, land surface,
subsurface strata, and natural resources such as wetlands, flora and fauna. 
 “Environmental Laws” means the common law
and any and all Federal, state, local, and foreign statutes, Laws, regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution, the
protection of the Environment (or, to the extent relating to exposure to Hazardous Materials, human health) or to the Release or threat of Release of Hazardous Materials into the Environment. 

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

“Environmental Permit” means any permit, approval, identification number, license or other authorization required under any
Environmental Law. 
 “Equity Interests” means Capital Stock and all warrants, options or other rights to acquire Capital
Stock, but excluding any debt security that is convertible into, or exchangeable for, Capital Stock. 
 “Equity Offering”
means any public or private sale of common stock or Preferred Stock of the Borrower (excluding Disqualified Stock), other than: 

(a)    the Distribution; 

(b)    public offerings with respect to any of the Borrower’s common stock registered on Form S-4 or Form S-8 (or any successor form); 

  
 24 

 (c)    issuances to any Subsidiary of the Borrower; and 

(d)    Refunding Capital Stock. 

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

“ERISA Affiliate” means any trade or business (whether or not incorporated) that together with any Loan Party or any
Restricted Subsidiary is treated as a single employer under Section 414(b), (c), (m) or (o) of the Code or Section 4001(a)(14) of ERISA. 

“ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) with respect to any Pension Plan,
the failure to satisfy the minimum funding standards under Section 412 of the Code or Section 302 of ERISA, whether or not waived; (c) a withdrawal by a Loan Party, any Restricted Subsidiary or any ERISA Affiliate from a Pension Plan
subject to Section 4063 of ERISA during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2) of ERISA) or a cessation of operations that is treated as such a withdrawal under Section 4062(e) of ERISA;
(d) a complete or partial withdrawal by a Loan Party, any Restricted Subsidiary or any ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan is insolvent, within the meaning of Title IV of ERISA, or in endangered
or critical status, within the meaning of Section 432 of the Code or Section 305 of ERISA; (e) the filing of a notice of intent to terminate the treatment of a plan amendment as a termination under Sections 4041 or 4041A of ERISA, or
the commencement of proceedings by the PBGC to terminate, a Pension Plan or Multiemployer Plan; (f) an event or condition which constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to
administer, any Pension Plan or Multiemployer Plan; or (g) the imposition of any liability under Title IV of ERISA by the PBGC, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon a Loan Party, any
Restricted Subsidiary or any ERISA Affiliate with respect to any Pension Plan or Multiemployer Plan. 
 “EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor person), as in effect from time to
time. 
 “Euro” or “€” means the single currency of participating member states of the EMU. 

“Eurocurrency Rate” means: 

(a)    for any Interest Period with respect to a Eurocurrency Rate Loan, the rate per annum equal to
the London Interbank Offered Rate (“LIBOR”), as published on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be reasonably designated by the Administrative Agent from
time to time) at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, for deposits in Dollars (or, in the case of a Revolving Credit Loan denominated in an Alternative Currency, such Alternative
Currency) (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period; and 

  
 25 

 (b)    for any interest calculation with respect to a Base
Rate Loan on any date, the rate per annum equal to LIBOR, at or about 11:00 a.m., London time determined two Business Days prior to such date for U.S. Dollar deposits with a term of one month commencing that day; 

provided, that the Eurocurrency Rate with respect to (x) Term Loans that bear interest at a rate based on clause (a) of this
definition will be deemed not to be less than 1.00% per annum and (y) Revolving Credit Loans that bear interest at a rate based on clause (a) of this definition will be deemed not to be less than 0% per annum. 

Notwithstanding anything herein to the contrary, in the event that LIBOR is no longer available or is not ascertainable, the Eurocurrency Rate
shall be determined by reference to any replacement reference rate that has been generally accepted as a successor to LIBOR in other similar broadly syndicated institutional term loan transactions and, if no such rate is available, the Eurocurrency
Rate shall be determined by the Borrower and the Required Lenders. 
 “Eurocurrency Rate Loan” means a Loan that bears
interest at a rate based on the Eurocurrency Rate. 
 “Event of Default” has the meaning specified in
Section 8.01. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the
rules and regulations of the SEC promulgated thereunder. 
 “Exchange Rate” means on any day, for purposes of determining
the Dollar Equivalent of any other currency, the rate at which such other currency may be exchanged into Dollars based upon the “Historical Currency Exchange Rate” on the immediately prior Business Day as determined by OANDA Corporation
and made available on its website at http://www.oanda.com/concert/fxhistory. In the event that no such rate is being quoted, the Exchange Rate shall be determined by reference to such other publicly available service for displaying exchange rates as
may be agreed upon by the Administrative Agent and the Borrower, or, in the absence of such an agreement, such Exchange Rate shall instead be the arithmetic average of the spot rates of exchange of the Administrative Agent in the market where its
foreign currency exchange operations in respect of such currency are then being conducted, at or about such time as the Administrative Agent shall elect after determining that such rates shall be the basis for determining the Exchange Rate, on such
date for the purchase of Dollars for delivery two Business Days later; provided that if at the time of any such determination, for any reason, no such spot rate is being quoted, the Administrative Agent may use any reasonable method it deems
appropriate to determine such rate, and such determination shall be conclusive absent demonstrable error. 
 “Excluded
Subsidiary” means (a) any Subsidiary that is not a Wholly Owned Subsidiary; (b) any Immaterial Subsidiary; (c) any Subsidiary that is prohibited or restricted by applicable Law, or by Contractual Obligations existing on the
Closing Date (or, in the case of any future acquisition, as of the closing date of such acquisition, so long as such prohibition is not incurred in contemplation of such acquisition), from guaranteeing the Obligations or would require the approval,
consent, license or authorization of any Governmental Authority in order to 

  
 26 

 
guarantee the Obligations (unless such approval, consent, license or authorization has been received); (d) any other Subsidiary with respect to which, in the reasonable judgment of the
Administrative Agent and the Borrower, the cost or other consequences (including any adverse tax consequences) of providing a Guarantee shall be excessive in view of the benefits to be obtained by the Lenders therefrom; (e) any Receivables
Subsidiary; (f) any Unrestricted Subsidiary; or (g) any CFC or CFC Holdco or any direct or indirect Subsidiary of any CFC or CFC Holdco. 

“Excluded Swap Obligation” means, with respect to any Guarantor, any Swap Obligation if, and to the extent that, all or a
portion of the Guarantee of such Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap Obligation (or any Guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order
of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor’s failure for any reason not to constitute an “eligible contract participant” as defined in the
Commodity Exchange Act at the time the Guarantee of such Guarantor becomes effective with respect to such related Swap Obligation. If a Swap Obligation arises under a master agreement governing more than one Swap, such exclusion shall apply only to
the portion of such Swap Obligation that is attributable to Swaps for which such Guarantee or security interest is or becomes illegal. 

“Excluded Taxes” means any of the following Taxes imposed on or with respect to any Recipient or required to be withheld or
deducted from a payment to or on account of a Recipient, (a) any Taxes imposed on or measured by net or gross income (however denominated), net worth or profits, franchise (and similar) Taxes or branch profits Taxes, in each case,
(i) imposed as a result of such Recipient being organized under the laws of, or having its principal office or, in the case of any Lender, its applicable Lending Office located in, the jurisdiction imposing such Tax (or any political
subdivision thereof) or (ii) that are Other Connection Taxes; (b) in the case of a Lender, any U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan
or Commitment pursuant to a Law in effect at the time (i) such Lender becomes a party hereto or acquires such interest in the Loan or Commitment (other than pursuant to the Borrower’s request under Section 10.13)
or (ii) such Lender designates a new Lending Office, except in each case to the extent that such Lender (or its assignor, if any) was entitled, immediately prior to the time of designation of a new Lending Office (or assignment), to receive
additional amounts from a Loan Party with respect to such Taxes pursuant to Section 3.01; (c) any Taxes attributable to such Recipient’s failure to comply with Section 3.01(d); and
(d) any U.S. federal withholding Taxes imposed pursuant to FATCA. 
 “Extended Revolving Credit Commitment” has the
meaning set forth in Section 2.15. 
 “Extended Term Loan” has the meaning set forth in
Section 2.15. 
 “Extending Lender” has the meaning set forth in
Section 2.15. 
 “Extension” has the meaning set forth in
Section 2.15. 

  
 27 

 “Extension Offer” has the meaning set forth in
Section 2.15. 
 “Facility” means the Term Loans, the Revolving Credit Facility or the Letter of
Credit Sublimit, as the context may require. 
 “FCPA” means Foreign Corrupt Practices Act of 1977, as amended, and the
rules and regulations thereunder. 
 “FATCA” means Sections 1471 through 1474 of the Code as of April 24, 2014 (and
any amended or successor version that is substantively comparable and not materially more onerous to comply with), any agreements entered into pursuant to current Section 1471(b)(1) of the Code (or any amended or successor version described
above), any current or future Treasury regulations or official administrative interpretations thereof and any intergovernmental agreements entered into in connection with the implementation thereof. 

“Federal Funds Rate” means, for any day, the rate calculated by the Federal Reserve Bank of New York based on such
day’s federal funds transactions by depository institutions (as determined in such manner as the Federal Reserve Bank of New York shall set forth on its public website from time to time) and published on the next succeeding Business Day by the
Federal Reserve Bank of New York as the federal funds effective rate; provided, that (a) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as
so published on the next succeeding Business Day, and (b) if no such rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of
1/100 of 1.00%) charged to Citibank on such day on such transactions as determined by the Administrative Agent. 
 “Financial
Covenant Event of Default” has the meaning set forth in Section 8.01(b). 
 “First
Amendment Effective Date” has the meaning set forth in Amendment No. 1. 
 “First Amendment Effective Date
Transaction Expenses” means any fees or expenses incurred or paid by the Borrower or any of its Subsidiaries in connection with the First Amendment Effective Date Transactions and the transactions contemplated thereby. 

“First Amendment Effective Date Transactions” means, collectively (a) the execution and delivery of Amendment
No. 1, (b) the issuance of the 2025 Senior Notes, (c) the prepayment of $200 million aggregate principal amount of Term Loans (such prepayment, the “First Amendment Effective Date Prepayment”) and (d) the payment
of First Amendment Effective Date Transaction Expenses. 
 “Foreign Currency Letter of Credit” has the meaning set forth
in Section 2.03(p). 
 “Foreign Lender” means any Lender that is not a “United States
person” as defined in Section 7701(a)(30) of the Code. 

  
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 “Foreign Plan” means any employee benefit plan, program or agreement maintained
or contributed to by, or entered into with, the Borrower or any of its Subsidiaries with respect to employees employed outside the United States (other than benefit plans, programs or agreements that are mandated by applicable Laws). 

“Foreign Subsidiary” means (i) any Subsidiary which is not a Domestic Subsidiary or (ii) any Subsidiary of a
Subsidiary described in the preceding clause (i). 
 “Form 10” means the registration statement on Form 10,
originally filed by the Borrower with the SEC on November 22, 2013, as amended or supplemented. 
 “Four Quarter
EBITDA” means, as of any date of determination, Consolidated Adjusted EBITDA of the Borrower and its Restricted Subsidiaries for the most recently ended Test Period for which Required Financial Statements have been delivered, in each case
with such pro forma adjustments to Consolidated Adjusted EBITDA as are appropriate and consistent with the pro forma adjustment provisions set forth in the definition of Consolidated Net Leverage Ratio as determined in good faith by
the Borrower. 
 “FRB” means the Board of Governors of the Federal Reserve System of the United States. 

“Fronting Exposure” means, at any time there is a Defaulting Lender, with respect to any L/C Issuer, such Defaulting
Lender’s Applicable Percentage of the outstanding L/C Obligations with respect to Letters of Credit issued by such L/C Issuer other than L/C Obligations as to which such Defaulting Lender’s participation obligation has been reallocated to
other Lenders or Cash Collateralized in accordance with the terms hereof. 
 “Fund” means any Person (other than a natural
person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its activities. 

“GAAP” means generally accepted accounting principles in the United States, as in effect from time to time, subject to
Section 1.03. 
 “Governmental Authority” means any nation or government, any state, county,
provincial or other political subdivision thereof, any agency, authority, instrumentality, regulatory body, court, administrative tribunal, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or
administrative powers or functions of or pertaining to government. 
 “Granting Lender” has the meaning specified in
Section 10.06(h). 
 “Guarantee” means a guarantee (other than by endorsement of negotiable
instruments for collection or deposit in the ordinary course of business), direct or indirect, in any manner (including letters of credit and reimbursement agreements in respect thereof), of all or any part of any Indebtedness or other obligations.

 “Guaranteed Obligations” has the meaning specified in Section 11.01. 

  
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 “Guarantors” means (a) the Subsidiary Guarantors and (b) with respect
to obligations and liabilities owing by any Loan Party (other than the Borrower) or Non-Guarantor Subsidiary in respect of Lines of Credit, Secured Hedge Agreements or Treasury Services Agreements, the
Borrower. 
 “Guaranty” means, collectively, the guaranty of the Obligations by the Guarantors pursuant to this Agreement.

 “Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous or toxic substances,
wastes or pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes that are regulated pursuant to applicable Environmental Law. 

“Hedge Bank” means any Person that is the Administrative Agent, an Arranger or a Lender or an Affiliate of the
Administrative Agent, an Arranger or a Lender at the time it enters into a Line of Credit, Secured Hedge Agreement or a Treasury Services Agreement (or, in the case of a Line of Credit, Secured Hedge Agreement or Treasury Services Agreement that is
in effect on the Closing Date, any Person that is the Administrative Agent, an Arranger or a Lender or an Affiliate of the Administrative Agent, an Arranger or a Lender as of the Closing Date), as applicable, in its capacity as a party thereto, and
(other than a Person already party hereto as a Lender) delivers to the Administrative Agent a letter agreement reasonably satisfactory to it (i) appointing the Collateral Agent as its agent under the applicable Loan Documents and
(ii) agreeing to be bound by Sections 9.09 and 10.05 as if it were a Lender. 
 “Hedging
Obligations” means, with respect to any Person, the obligations of such Person under any interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, commodity swap agreement, commodity cap agreement, commodity
collar agreement, foreign exchange contract, currency swap agreement or similar agreement providing for the transfer or mitigation of interest rate or currency risks or commodity pricing risks either generally or under specific contingencies. 

“Honor Date” has the meaning set forth in Section 2.03(c)(i). 

“Immaterial Subsidiary” means any Subsidiary of the Borrower that does not have assets (after intercompany eliminations) in
excess of $15.0 million or annual revenues in excess of $7.5 million (provided that the assets (after intercompany eliminations) of all Immaterial Subsidiaries (other than those that would be Excluded Subsidiaries even if they were
not Immaterial Subsidiaries) shall not exceed $100 million in the aggregate and the annual revenues of all Immaterial Subsidiaries (other than those that would be Excluded Subsidiaries even if they were not Immaterial Subsidiaries) shall not
exceed $100 million in the aggregate), in each case as determined as of the date of the most recent Required Financial Statements that have been delivered. 

“Incremental Amendment” has the meaning set forth in Section 2.13(c). 

“Incremental Term Loans” has the meaning set forth in Section 2.13(a). 

  
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 “Indebtedness” means, with respect to any Person on the day of determination,
without duplication: 
 (a)    the principal in respect of (i) any indebtedness of such Person for borrowed money
and (ii) indebtedness evidenced by bonds, notes (other than notes in favor of trade creditors evidencing trade payables incurred in the ordinary course of business), debentures or other similar instruments for the payment of which such Person
is liable; 
 (b)    the net obligations under all Hedging Obligations of such Person (the amount of such obligations
to be equal at any time to the net payment under such agreements or arrangements giving rise to such obligation that would be payable by such Person at the termination of such agreement or arrangement); 

(c)    all Attributable Indebtedness in respect of a Sale and Lease-Back Transaction entered into by such Person and all
Capitalized Lease Obligations of such Person; 
 (d)    the principal component of all obligations of such Person to
pay the deferred and unpaid purchase price of any property (excluding trade payables incurred in the ordinary course of business), to the extent the same would be required to be shown as a long-term liability on a balance sheet prepared in
accordance with GAAP; 
 (e)    the principal amount of all reimbursement obligations of such Person in respect of
letters of credit, bankers’ acceptances or other similar instruments (the amount of such obligations being equal at any time to the aggregate then undrawn and unexpired amount of such letters of credit or other similar instruments plus the
aggregate amount of drawings thereunder that have not been reimbursed) (except to the extent such reimbursement obligations relate to trade payables incurred in the ordinary course of business); 

(f)    the principal component of Indebtedness of the type referred to in clause (a) of a third Person
secured by a Lien on any asset owned by the Person first referenced in this definition (other than Liens on Equity Interests of Unrestricted Subsidiaries securing Indebtedness of such Unrestricted Subsidiaries), whether or not such Indebtedness is
assumed by such first Person; provided, however, that the amount of such Indebtedness will be the lesser of (i) the Indebtedness so secured and (ii) the fair market value (as determined in good faith by the Borrower) of the assets
of such first Person securing such Indebtedness; and 
 (g)    to the extent not otherwise included, any obligation by
the Person first referenced in this definition to be liable for, or to pay, as obligor, guarantor or otherwise, on Indebtedness of the type referred to in clause (a) of a third Person (whether or not such items would appear upon the
balance sheet of such obligor or guarantor), other than by endorsement of negotiable instruments for collection in the ordinary course of business; 

provided, however, that notwithstanding the foregoing, Indebtedness shall be deemed not to include (A) Contingent Obligations incurred in
the ordinary course of business, (B) deferred or prepaid revenues, (C) trade payables, accrued expenses and intercompany liabilities arising in the ordinary course of business, (D) any earn-out
obligations until such obligation becomes a liability on the balance sheet of such Person in accordance with GAAP, (E) purchase price holdbacks arising in the ordinary course of business in respect of a portion of the purchase price of an asset
to satisfy underperformed obligations of the seller of such asset or (F) obligations under or in respect of Receivables Facilities. 

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

“Indemnitees” has the meaning set forth in Section 10.04. 

“Independent Financial Advisor” means an accounting, appraisal, investment banking firm or consultant to Persons engaged in
Similar Businesses of nationally recognized standing that is, in the good faith determination of the Borrower, qualified to perform the task for which it has been engaged. 

“Information” has the meaning set forth in Section 10.07. 

“Intellectual Property Security Agreements” has the meaning specified in Section 4.02(c)(ii)(E).

 “Intercreditor Agreement” means a first lien intercreditor agreement among the Loan Parties, the Administrative Agent,
the Collateral Agent and the trustee, agent or other representative for holders of any Indebtedness (a) incurred pursuant to Sections 7.02(b)(xxi) or 7.02(b)(xxii) and (b) secured by a Lien on the
Collateral permitted by clause (37), which intercreditor agreement shall be consistent with the then existing market practice and reasonably acceptable to the Required Lenders (it being understood that (i) any such
intercreditor agreement shall be considered acceptable to a Lender if made available to such Lender by the Administrative Agent (through Intralinks or similar facility) and such Lender is informed that such intercreditor agreement shall be
considered acceptable to it if there is no objection within five Business Days, and no such objection is made and (ii) such intercreditor agreement shall be deemed accepted if accepted or deemed accepted by the Required Lenders). 

“Interest Payment Date” means, (a) as to any Eurocurrency Rate Loan, the last day of each Interest Period applicable to
such Loan and the Maturity Date of the Facility under which such Loan was made; provided, that if any Interest Period for a Eurocurrency Rate Loan exceeds three months, the respective dates that fall every three months after the beginning of
such Interest Period shall also be Interest Payment Dates, and (b) as to any Base Rate Loan, the last Business Day of each March, June, September and December and the Maturity Date of the Facility under which such Loan was made. 

“Interest Period” means, as to each Eurocurrency Rate Loan, the period commencing on the date such Eurocurrency Rate Loan is
disbursed or converted to or continued as a Eurocurrency Rate Loan and ending on the date one, three or six months thereafter or, to the extent agreed by each Lender of such Eurocurrency Rate Loan, 12 months thereafter, as selected by the
Borrower in its Committed Loan Notice; provided, that: 
 (a)    any Interest Period that would
otherwise end on a day that is not a Business Day shall be extended to the next succeeding Business Day unless such Business Day falls in another calendar month, in which case such Interest Period shall end on the next preceding Business Day; 

  
 32 

 (b)    any Interest Period that begins on the last Business
Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of such Interest Period; and 

(c)    no Interest Period shall extend beyond the Maturity Date of the Facility under which such Loan was
made. 
 “Internal Reorganization” means the series of internal transactions, including those described under the
“The Spin-Off and the Transactions” and “Certain Relationships and Related Party Transactions” or otherwise described in the Form 10 (including the Special Dividend and the IPC
Purchase), following which the Borrower will hold the business constituting the Parent’s current “Time Inc.” reporting segment consisting principally of its magazine publishing business and related websites and operations, as
described in the Parent’s Annual Report on Form 10-K for the year ended December 31, 2013. 

“Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P, or an equivalent rating by any other Rating Agency, and in each such case with a “stable” or better outlook. 

“Investment Grade Securities” means: 

(a)    securities issued or directly and fully guaranteed or insured by the United States, United Kingdom
or Canadian government or any agency or instrumentality thereof (other than Cash Equivalents); 

(b)    debt securities or debt instruments with an Investment Grade Rating, but excluding any debt
securities or instruments constituting loans or advances among the Borrower and its Subsidiaries; 

(c)    investments in any fund that invests exclusively in investments of the type described in clauses
(a) and (b) which fund may also hold immaterial amounts of cash pending investment or distribution; and 

(d)    corresponding instruments in countries other than the United States, the United Kingdom and Canada
customarily utilized for high quality investments. 
 “Investments” means, with respect to any Person, all investments by
such Person in other Persons (including Affiliates) in the form of loans (including guarantees of loans), advances or capital contributions (excluding accounts receivable, trade credit, deposits, advances to customers, dealers, distributors and
suppliers, commission, payroll, travel and similar advances to directors, officers and employees, in each case made in the ordinary course of business), purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other
securities issued by any other Person and investments that are required by GAAP to be classified on the balance sheet (excluding the footnotes) of such Person in the same manner as 

  
 33 

 
the other investments included in this definition to the extent such transactions involve the transfer of cash or other property; provided, however, that endorsements of negotiable
instruments and documents in the ordinary course of business will not be deemed to be an Investment. For purposes of the definition of “Unrestricted Subsidiary” and Section 7.05: 

(a)    “Investments” shall include the portion (proportionate to the Borrower’s
direct or indirect equity interest in such Subsidiary) of the fair market value (as determined in good faith by the Borrower) of the net assets of a Subsidiary of the Borrower at the time that such Subsidiary is designated an Unrestricted
Subsidiary; provided, however, that upon a redesignation of such Subsidiary as a Restricted Subsidiary, the Borrower or applicable Restricted Subsidiary shall be deemed to continue to have a permanent “Investment” in
an Unrestricted Subsidiary in an amount (if positive) equal to: 
 (i)    the Borrower’s direct or
indirect “Investment” in such Subsidiary at the time of such redesignation; less 

(ii)    the portion (proportionate to the Borrower’s direct or indirect equity interest in such
Subsidiary) of the fair market value (as determined in good faith by the Borrower) of the net assets of such Subsidiary at the time of such redesignation; and 

(b)    any property transferred to or from an Unrestricted Subsidiary shall be valued at its fair market
value (as determined in good faith by the Borrower) at the time of such transfer. 
 The amount of any Investment outstanding at any time
shall be the original cost of such Investment (determined, in the case of any Investment made with assets of the Borrower or any Restricted Subsidiary, based on the fair market value (as determined in good faith by the Borrower) at the time of such
Investment of the assets invested), reduced by any dividend, distribution, interest payment, return of capital, repayment or other amount received in cash by Borrower or a Restricted Subsidiary in respect of such Investment. 

“IP Rights” has the meaning set forth in Section 5.15. 

“IPC Note” has the meaning assigned to such term in the preamble to this Agreement. 

“IPC Purchase” has the meaning assigned to such term in the preamble to this Agreement. 

“IPC Repayment” has the meaning assigned to such term in the preamble to this Agreement. 

“ISP” means, with respect to any Letter of Credit, the “International Standby Practices 1998” published by the
Institute of International Banking Law & Practice, Inc. (or such later version thereof as may be in effect at the time of issuance). 

  
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 “Issuer Documents” means with respect to any Letter of Credit, the Letter of
Credit Application, and any other document, agreement and instrument entered into by any L/C Issuer and the Borrower (or any Subsidiary) or in favor of such L/C Issuer and relating to such Letter of Credit. 

“Judgment Currency” has the meaning set forth in Section 10.22(b). 

“L/C Advance” means, with respect to each Revolving Credit Lender, such Lender’s funding of its participation in any
L/C Borrowing in accordance with its Pro Rata Share. 
 “L/C Borrowing” means an extension of credit resulting from a
drawing under any Letter of Credit which has not been timely reimbursed or refinanced as a Revolving Credit Borrowing in accordance with Section 2.03(c). 

“L/C Commitment” means, with respect to any L/C Issuer, the aggregate face amount of Letters of Credit that such L/C Issuer
has committed, in writing, to provide subject to the terms and conditions set forth in this Agreement. The L/C Commitments of the L/C Issuers as of the First Amendment Effective Date are as set forth on Schedule 1.01B. 

“L/C Credit Extension” means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date
thereof, or the renewal or increase of the amount thereof. 
 “L/C Issuer” means (a) each Person identified on
Schedule 1.01B, (b) any other Revolving Credit Lender that becomes an L/C Issuer in accordance with Section 2.03(k) following the Closing Date, in each case, in its capacity as an issuer of Letters of Credit
hereunder, or any successor issuer of Letters of Credit hereunder and, in the case of clause (b), subject to such Lender’s acceptance of such appointment and (c) any Affiliate of any L/C Issuer referred to in clause
(a) or (b) above that issues a Letter of Credit under such L/C Issuer’s L/C Commitment, but such Affiliate shall constitute an L/C Issuer solely for purposes of Letters of Credit issued by it. Any reference to “L/C
Issuer” herein shall be to the applicable L/C Issuer, as appropriate. 
 “L/C Obligations” means, as at any date of
determination, the Dollar Equivalent of the aggregate undrawn amount of all outstanding Letters of Credit plus the Dollar Equivalent of the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. 

“Latest Maturity Date” means, at any date of determination, the latest Maturity Date applicable to any Loan or Commitment
hereunder at such time, including the latest maturity date of any Incremental Term Loan Commitment, any Other Term Loan Commitment, any Extended Term Loan, any Extended Revolving Credit Commitment and any Incremental Term Loans, in each case as
extended in accordance with this Agreement from time to time. 
 “Laws” means, collectively, all international, foreign,
Federal, state and local statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged
with the enforcement, interpretation or administration thereof, and all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority. 

  
 35 

 “Lender” has the meaning specified in the preamble to this Agreement and, as
the context requires, includes an L/C Issuer and its successors and assigns as permitted hereunder, each of which is referred to herein as a “Lender.” 

“Lending Office” means, as to any Lender, such office or offices as a Lender may from time to time notify the Borrower and
the Administrative Agent. 
 “Letter of Credit” means any letter of credit issued hereunder. A Letter of Credit shall
include any standby, commercial or documentary letter of credit. 
 “Letter of Credit Application” means an application
and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the relevant L/C Issuer. 

“Letter of Credit Expiration Date” means the day that is five Business Days prior to the scheduled Maturity Date then in
effect for the Revolving Credit Facility (or, if such day is not a Business Day, the next preceding Business Day). 
 “Letter of
Credit Sublimit” means an amount equal to the lesser of (a) $185 million and (b) the aggregate amount of the Revolving Credit Commitments. The Letter of Credit Sublimit is part of, and not in addition to, the Revolving Credit
Facility. 
 “LIBOR” has the meaning specified in the definition of “Eurocurrency Rate.” 

“Lien” means, with respect to any asset, any mortgage, lien (statutory or otherwise), pledge, hypothecation, charge,
security interest, preference, priority or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or other title retention agreement, any lease in
the nature thereof, any option or similar agreement to sell or give a security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction in respect of a
security interest; provided that in no event shall an operating lease be deemed to constitute a Lien. 
 “Line of
Credit” means any agreement between any Loan Party (or any Non-Guarantor Subsidiary) and any Hedge Bank relating to a bi-lateral line of credit to be provided
by such Hedge Bank, other than any such agreement that, by its terms, or by the terms of any separate agreement between the parties thereto, is agreed not to constitute a Line of Credit; provided that (a) any extensions of credit
thereunder are permitted by Section 7.02 and (b) the aggregate principal amount of extensions of credit under all Lines of Credit outstanding at any time shall not exceed $20 million. 

“Loan” means an extension of credit by a Lender to the Borrower pursuant to Article II. 

  
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 “Loan Documents” means, collectively, (a) this Agreement, (b) the
Notes (if any), (c) the Collateral Documents, (d) Amendment No. 1 and (e) other amendments of and joinders to any Loan Documents that are deemed pursuant to their terms to be Loan Documents for purposes hereof. 

“Loan Extension Agreement” means an agreement among the Borrower and one or more Extending Lenders implementing the terms of
any applicable Extension Offer pursuant to Section 2.15. 
 “Loan Parties” means, collectively,
the Borrower and the Subsidiary Guarantors. 
 “Margin Stock” has the meaning specified in
Section 5.12(a). 
 “Master Agreement” has the meaning specified in the definition of
“Swap Contract.” 
 “Material Adverse Effect” means a material adverse effect on (a) the business,
financial condition or results of operations of the Borrower and its Subsidiaries, taken as a whole, (b) the ability of the Borrower and the other Loan Parties, taken as a whole, to perform their obligations under this Agreement, or
(c) the material rights and remedies of the Administrative Agent and the Lenders under this Agreement and the other Loan Documents. 

“Material Non-Guarantor Subsidiary” means any
Non-Guarantor Subsidiary of the Borrower that has assets (after intercompany eliminations) in excess of $50 million or annual revenues in excess of $50 million, in each case as determined as of the
date of the most recent Required Financial Statements that have been delivered. 
 “Maturity Date” means (a) with
respect to the Term Loans, the date that is seven years after the First Amendment Effective Date and (b) with respect to the Revolving Credit Facility, the date that is five years after the First Amendment Effective Date; provided, that
if either such day is not a Business Day, the Maturity Date shall be the Business Day immediately succeeding such day; provided, further, that if the Senior Notes are outstanding in an aggregate principal amount greater than
$100,000,000 on the Springing Maturity Date, then the Maturity Date with respect to the Term Loans and the Revolving Credit Facility shall be the Springing Maturity Date. 

“Maximum Incremental Term Loan Amount” means, at any date of determination, a principal amount of not greater than (a)
$350 million plus (b) additional amounts, so long as on a Pro Forma Basis after giving effect to the incurrence of any such Incremental Term Loan or any Permitted Debt Offering (and after giving effect to any acquisition consummated
concurrently therewith), the Consolidated Secured Net Leverage Ratio is equal to or less than 2.50 to 1.00 for the most recently ended Test Period for which Required Financial Statements have been delivered; provided, that the principal
amount of any Incremental Facilities incurred pursuant to Section 2.13 or any Permitted Debt Offerings incurred pursuant to Section 7.02(b)(xxi), in each case shall reduce the amount in clause
(a) on a dollar for dollar basis until reduced to zero. In calculating the Maximum Incremental Term Loan Amount, the Borrower may utilize capacity available under both clauses (a) and (b) of the preceding sentence in the
same transaction and under such circumstances amounts incurred 

  
 37 

 
under clause (a) will be disregarded for purposes of calculating the ratio set forth in clause (b); provided that absent direction from the Borrower, if amounts are
available under both clauses (a) and (b), the Borrower will be deemed to have first utilized amounts permitted under clause (b) to the extent compliant therewith before any utilization under clause (a). 

“Maximum Rate” has the meaning specified in Section 10.09. 

“MIRE Event” means, if there are any Mortgages at such time, any increase, extension of the maturity or renewal of any of
the Commitments or Loans (including an Incremental Amendment or an Extension, but excluding for the avoidance of doubt (a) any continuation or conversion of borrowings, (b) the making of any Loan or (c) the issuance, renewal or
extension of Letters of Credit). 
 “Moody’s” means Moody’s Investors Service, Inc. and any successor to its
rating agency business. 
 “Mortgage” has the meaning specified in Section 6.11(c). 

“Multiemployer Plan” means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which the
Borrower, any Subsidiary or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years, has made or been obligated to make contributions. 

“Net Income” means, with respect to any Person, the net income (loss) attributable to such Person and its Restricted
Subsidiaries, determined in accordance with GAAP and before any reduction in respect of Preferred Stock dividends. 
 “Net
Proceeds” means: 
 (a)    with respect to any Disposition or Casualty Event, 100% of the cash
proceeds actually received by the Borrower or any of its Restricted Subsidiaries from such Disposition or Casualty Event, net of (i) attorneys’ fees, accountants’ fees, investment banking fees, survey costs, title insurance premiums,
and related search and recording charges, transfer taxes, deed or mortgage recording taxes, required debt payments and required payments of other obligations relating to the applicable asset to the extent such debt or obligations are secured by a
Lien permitted hereunder (other than pursuant to the Loan Documents and Credit Agreement Refinancing Indebtedness) on such asset, other customary expenses and brokerage, consultant and other customary fees actually incurred in connection therewith,
(ii) Taxes paid or payable as a result thereof, and (iii) the amount of any reasonable reserve established in accordance with GAAP against any adjustment to the sale price or any liabilities (other than any taxes deducted pursuant to
clause (i) above) (x) related to any of the applicable assets and (y) retained by the Borrower or any of its Restricted Subsidiaries including pension and other post-employment benefit liabilities and liabilities related to
environmental matters or against any indemnification obligations (however, the amount of any subsequent reduction of such reserve (other than in connection with a payment in respect of any such liability) shall be deemed to be Net Proceeds of such
Disposition or Casualty Event occurring on the date of such reduction); provided, that, if the Borrower intends to use any portion of 

  
 38 

 
such proceeds to acquire, maintain, develop, construct, improve, upgrade or repair assets useful in the business of the Borrower or any of its Restricted Subsidiaries or to make Permitted
Acquisitions or any acquisition of all or substantially all the assets of, or all the Equity Interests (other than directors’ qualifying shares) in, a Person or division or line of business of a Person (or any subsequent investment made in a
Person, division or line of business previously acquired), in each case within 15 months of such receipt, such portion of such proceeds shall not constitute Net Proceeds except to the extent not, within 15 months of such receipt, so used or
contractually committed to be so used (it being understood that if any portion of such proceeds are not so used within such 15 month period but within such 15 month period are contractually committed to be used, then upon the termination
of such contract or if such Net Proceeds are not so used prior to the expiration of the period ending 180 days after the end of such 15 month period, such remaining portion shall constitute Net Proceeds as of the date of such termination or
expiry without giving effect to this proviso); and 
 (b)    with respect to any Indebtedness, 100% of
the cash proceeds from the incurrence, issuance or sale by the Borrower or any of its Restricted Subsidiaries of such Indebtedness, net of all taxes and fees (including investment banking fees), commissions, costs and other expenses, in each case
incurred in connection with such issuance or sale. 
 For purposes of calculating the amount of Net Proceeds, fees, commissions and other
costs and expenses payable to the Borrower or any of its Subsidiaries shall be disregarded. 

“Non-Defaulting Lender” means, at any time, each Lender that is not a Defaulting
Lender at such time. 
 “Non-Extension Notice Date” has the meaning specified in
Section 2.03(b)(iii). 
 “Non-Guarantor Subsidiary”
means any Restricted Subsidiary that is not a Guarantor. 
 “Note” means a Term Note or a Revolving Credit Note, as the
context may require. 
 “NPL” means the National Priorities List under CERCLA. 

“Obligations” means all (a) advances to, and debts, liabilities, obligations, covenants and duties of, any Loan Party
arising under any Loan Document or otherwise with respect to any Loan or Letter of Credit, whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and
including interest and fees that accrue after the commencement by or against any Loan Party of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest and fees are allowed
claims in such proceeding and (b) obligations of any Loan Party (or any Non-Guarantor Subsidiary) arising under any Line of Credit, Secured Hedge Agreement or any Treasury Services Agreement, excluding,
in the case of clauses (a) and (b), with respect to any Guarantor at any time, any Excluded Swap Obligations with respect to such Guarantor (or such Non-Guarantor Subsidiary) at such time.
Without limiting the generality of the foregoing, the Obligations of the Loan Parties under the Loan 

  
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Documents include (i) the obligation (including guarantee obligations) to pay principal, interest, Letter of Credit fees, reimbursement obligations, charges, expenses, fees, Attorney Costs,
indemnities and other amounts payable by any Loan Party under any Loan Document and (ii) the obligation of any Loan Party to reimburse any amount in respect of any of the foregoing that any Lender may elect to pay or advance on behalf of such
Loan Party in accordance with this Agreement. 
 “obligations” means any principal (including any accretion), interest
(including any interest accruing subsequent to the filing of a petition in bankruptcy, reorganization or similar proceeding at the rate provided for in the documentation with respect thereto, whether or not such interest is an allowed claim under
applicable state, federal or foreign law), penalties, fees, indemnifications, reimbursements (including reimbursement obligations with respect to letters of credit and bankers’ acceptances), damages and other liabilities, and guarantees of
payment of such principal (including any accretion), interest, penalties, fees, indemnifications, reimbursements, damages and other liabilities, payable under the documentation governing any Indebtedness. 

“OFAC” means the United States Department of the Treasury’s Office of Foreign Assets Control, which administers and
enforces U.S. economic sanctions regulations set forth under (31 C.F.R. Subtitle B, Chapter V). 
 “Organization
Documents” means, (a) with respect to any corporation, the certificate, charter or articles of incorporation and the bylaws (or equivalent or comparable constitutive documents with respect to any
non-U.S. jurisdiction); (b) with respect to any limited liability company, the certificate or articles of formation or organization and operating agreement or limited liability company agreement; and
(c) with respect to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation or organization and any agreement, instrument, filing or notice with respect
thereto filed in connection with its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if applicable, any certificate or articles of formation or organization of such
entity. 
 “Other Applicable Indebtedness” has the meaning set forth in Section 2.04(b)(i). 

“Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or former connection
between such Recipient and the jurisdiction imposing such Tax, other than any connection arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a
security interest under, engaged in any other transaction pursuant to, and/or enforced, any Loan Documents. 
 “Other
Encumbrances” has the meaning specified clause (5) of Section 7.01. 

“Other Taxes” has the meaning specified in Section 3.01(b). 

  
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 “Other Term Loan Commitments” means one or more Classes of term loan
commitments hereunder to fund Other Term Loans of the applicable Refinancing Series hereunder that result from a Refinancing Amendment. 

“Other Term Loans” means one or more Classes of Term Loans that result from a Refinancing Amendment. 

“Outstanding Amount” means (a) with respect to the Term Loans and Revolving Credit Loans on any date, the outstanding
principal amount thereof after giving effect to any borrowings and prepayments or repayments of Term Loans and Revolving Credit Loans (including any refinancing of outstanding unpaid drawings under Letters of Credit or L/C Credit Extensions as a
Revolving Credit Borrowing) , as the case may be, occurring on such date; and (b) with respect to any L/C Obligations on any date, the outstanding amount thereof on such date after giving effect to any L/C Credit Extension occurring on such
date and any other changes thereto as of such date, including as a result of any reimbursements of outstanding unpaid drawings under any Letters of Credit (including any refinancing of outstanding unpaid drawings under Letters of Credit or L/C
Credit Extensions as a Revolving Credit Borrowing) or any reductions in the maximum amount available for drawing under Letters of Credit taking effect on such date. 

“Parent” means Time Warner Inc., a Delaware corporation. 

“Participant” has the meaning specified in Section 10.06(d). 

“Participant Register” has the meaning set forth in Section 10.06(d). 

“PBGC” means the Pension Benefit Guaranty Corporation. 

“Pension Plan” means any “employee pension benefit plan” (as such term is defined in Section 3(2) of ERISA),
other than a Multiemployer Plan, that is subject to Title IV of ERISA and is sponsored or maintained by any Loan Party or any ERISA Affiliate or to which any Loan Party or any ERISA Affiliate contributes or has an obligation to contribute, or in the
case of a multiple employer or other plan described in Section 4064(a) of ERISA, has made contributions at any time during the immediately preceding five plan years. 

“Perfection Certificate” means a certificate in the form of Exhibit F-1
hereto or any other form approved by the Collateral Agent, as the same shall be supplemented from time to time by a Perfection Certificate Supplement or otherwise. 

“Perfection Certificate Supplement” means a certificate supplement in the form of Exhibit
F-2 hereto or any other form approved by the Collateral Agent. 
 “Permitted
Acquisition” means any Investment permitted under clause (c) of the definition of Permitted Investments. 

“Permitted Additional L/C Currency” means any currency (other than Euros or Sterling) in which a Letter of Credit is
denominated, as agreed between the Borrower and the applicable L/C Issuer in its discretion. 

  
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 “Permitted Asset Swap” means the substantially concurrent purchase and sale or
exchange of Related Business Assets or a combination of Related Business Assets and cash or Cash Equivalents between the Borrower or any of its Restricted Subsidiaries and another Person; provided that any cash or Cash Equivalents received
must be applied in accordance with Sections 2.04(b) and 7.04. 
 “Permitted Debt
Offering” means any issuance of senior secured or junior secured or senior unsecured or junior unsecured Indebtedness by any Loan Party after the Closing Date through an incurrence of term loans or through a public offering or private
issuance of debt securities under Rule 144A or Regulation S under the Securities Act, or otherwise; provided that, (a) such Indebtedness may be secured by a first priority Lien on the Collateral that is pari passu with the Lien
securing the Obligations (other than any Permitted Debt Offering Indebtedness incurred in the form of term loans, which shall not be secured by a first priority Lien on the Collateral), or may be secured by a Lien ranking junior to the Lien on the
Collateral securing the Obligations or may be unsecured; (b) such Indebtedness is not secured by any collateral other than the Collateral securing the Obligations; (c) such Indebtedness does not mature on or prior to the Latest Maturity
Date of, or have a shorter Weighted Average Life to Maturity than, the Term Loans; (d) the covenants and events of default in respect of such Indebtedness, taken as a whole, are substantially similar, or more favorable to the Loan Parties than,
those governing the Senior Notes and the 2025 Senior Notes or are otherwise not more restrictive to the Loan Parties in the aggregate than those set forth in this Agreement (it being understood to the extent that any financial maintenance covenant
is added for the benefit of any Permitted Debt Offering, no consent shall be required from the Administrative Agent or any Lender to the extent that such financial maintenance covenant is also added for the benefit of any corresponding existing
Facility); (e) a certificate of a Responsible Officer of the issuing Loan Party delivered to the Administrative Agent at least three Business Days (or such shorter period as the Administrative Agent may reasonably agree) prior to the incurrence of
such Indebtedness, together with a reasonably detailed description of the material terms and conditions of such Indebtedness or drafts of the documentation relating thereto, stating that the issuing Loan Party has determined in good faith that such
terms and conditions satisfy the foregoing requirements shall be conclusive evidence that such terms and conditions satisfy the foregoing requirements; and (f) none of the Borrower’s Subsidiaries (other than the Loan Parties) is a
guarantor or borrower under such Permitted Debt Offering. Any debt securities (including registered debt securities) issued by any Loan Party in exchange for any Indebtedness issued in connection with a Permitted Debt Offering in accordance with the
terms of a registration rights agreement entered into in connection with the issuance of such Permitted Debt Offering Indebtedness shall also be considered a Permitted Debt Offering. 

“Permitted Investments” means: 

(a)    any Investment in the Borrower or any of its Restricted Subsidiaries; provided, that any
Investment by the Loan Parties in Non-Guarantor Subsidiaries pursuant to this clause (a), together with, but without duplication of, Investments made by Loan Parties in
Non-Guarantor Subsidiaries pursuant to clause (c) below, Indebtedness of a Non-Guarantor Subsidiary owing to the Borrower or a Subsidiary Guarantor incurred
pursuant to Section 7.02(b)(vii) and Disposition Deficiencies shall not exceed an aggregate amount outstanding equal to the greater of (x) $200 million and (y) 33% of Four Quarter EBITDA at the time of such Investment;

  
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 (b)    any Investment in cash, the Senior Notes, the 2025
Senior Notes, Cash Equivalents and Investments that were Cash Equivalents when made; 
 (c)    any
Investment by the Borrower or any of its Restricted Subsidiaries in a Person if as a result of such Investment (i) such Person becomes a Restricted Subsidiary, or (ii) such Person, in one transaction or a series of related transactions, is
merged, consolidated or amalgamated with or into, or transfers or conveys substantially all of its assets to, or is liquidated into, the Borrower or a Restricted Subsidiary; provided: 

(i)    that any Investment by the Loan Parties in a Person that becomes a
Non-Guarantor Subsidiary pursuant to this clause (c), together with, but without duplication of, Investments made by Loan Parties in Non-Guarantor Subsidiaries
pursuant to clause (a) above, Indebtedness of a Non-Guarantor Subsidiary owing to the Borrower or a Subsidiary Guarantor incurred pursuant to Section 7.02(b)(vii) and
Disposition Deficiencies, shall not exceed an aggregate amount outstanding equal to the greater of (x) $200 million and (y) 33% of Four Quarter EBITDA at the time of such Investment; 

(ii)    no Event of Default shall exist either immediately before or after such purchase or acquisition;

 (iii)    such Investment is in compliance with Section 7.10 regarding
Change in Nature of Business; and 
 (iv)    Section 6.11 shall be complied
with respect to such newly acquired Restricted Subsidiary and property; 
 and, in each case, any Investment held by such Person at the time
such Person becomes a Restricted Subsidiary; provided, that such Investment was not acquired by such Person in contemplation of such acquisition, merger, consolidation, amalgamation, transfer or conveyance; 

(d)    any Investment in securities or other assets not constituting cash or Cash Equivalents and received
in connection with a Disposition made pursuant to Section 7.04; 
 (e)    any
Investment (i) existing on the Closing Date or made pursuant to binding commitments in effect on the Closing Date, (ii) made pursuant to the Spin-Off Documents, or (iii) consisting of any
replacement, refinancing, extension, modification or renewal of any Investment existing on the Closing Date or made pursuant to the Spin-Off Documents; provided that the amount of any such Investment
may only be increased (A) as required by the terms of such Investment as in existence on the Closing Date or (B) as otherwise permitted under this Agreement; 

  
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 (f)    any Investment acquired by the Borrower or any of its
Restricted Subsidiaries: 
 (i)    in exchange for any other Investment or accounts receivable held by
the Borrower or any such Restricted Subsidiary in connection with or as a result of a bankruptcy workout, reorganization or recapitalization of the issuer of such other Investment or accounts receivable; 

(ii)    as a result of a foreclosure by the Borrower or any of its Restricted Subsidiaries with respect to
any secured Investment or other transfer of title with respect to any secured Investment in default; or 

(iii)    as a result of the settlement, compromise or resolution of litigation, arbitration or other
disputes with Persons who are not Affiliates of the Borrower; 
 (g)    Hedging Obligations permitted
under Section 7.02(b)(ix); 
 (h)    Investments the payment for which consists
of Equity Interests (exclusive of Disqualified Stock) of the Borrower; provided, however, that such Equity Interests will not increase the amount available for Restricted Payments under Section 7.05(a)(iii); 

(i)    guarantees of Indebtedness permitted under Section 7.02; 

(j)    any transaction to the extent it constitutes an Investment that is permitted and made in accordance
with the provisions of Section 7.07(b) (except transactions described in clauses (2), (6), (8), (9), (11), (13) and (17) thereof); 

(k)    Investments consisting of (i) purchases and acquisitions of inventory, supplies, material,
services or equipment, or other similar assets or purchases of contract rights or licenses or leases of intellectual property, in each case in the ordinary course of business or (ii) the leasing or licensing of intellectual property in the
ordinary course of business or the leasing, licensing or contribution of intellectual property pursuant to joint marketing arrangements with other Persons; 

(m)    Investments in a Receivables Subsidiary or any Investment by a Receivables Subsidiary in any Person
that, in the good faith determination of the Borrower, are necessary or advisable to effect any Receivables Facility or any repurchases in connection therewith; 

(n)    advances to, or guarantees of Indebtedness of, officers, directors and employees of the Borrower and
its Subsidiaries not in excess of $5.0 million outstanding at any one time, in the aggregate; 

(o)    loans and advances to officers, directors and employees of the Borrower or its Subsidiaries for
business-related travel expenses, moving expenses, payroll expenses and other similar expenses, in each case incurred in the ordinary course of business or consistent with past practice or to fund such Person’s direct or indirect purchase of
Equity Interests of the Borrower; 
 (p)    any Investment by the Borrower or any of its Restricted
Subsidiaries in an Unrestricted Subsidiary or a joint venture engaged in a Similar Business in an aggregate 

  
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amount, taken together with all other Investments made pursuant to this clause (p) that are at the time outstanding, not to exceed the greater of (i) $300.0 million
and (ii) 50% of Four Quarter EBITDA (with the fair market value (as determined in good faith by the Borrower) of each Investment being measured at the time made and without giving effect to subsequent changes in value); provided,
however, that if any Investment pursuant to this clause (p) is made in any Person that is not a Restricted Subsidiary at the date of the making of such Investment and such Person becomes a Restricted Subsidiary after
such date, such Investment will thereafter be deemed to have been made pursuant to clauses (a) or (c) above and shall not be included as having been made pursuant to this clause (p);

 (q)    any Investment in any Subsidiary or joint venture in connection with intercompany cash
management arrangements or related activities arising in the ordinary course of business; 

(r)    endorsements for collection or deposit in the ordinary course of business; 

(s)    Investments resulting from pledges or deposits with respect to leases or utilities provided to third
parties in the ordinary course of business or that are made in connection with Permitted Liens; 

(t)    advances, prepayments, loans or extensions of credit to customers and suppliers in the ordinary
course of business; 
 (u)    Investments in joint ventures to the extent required by, or made pursuant
to, customary buy/sell arrangements between the joint venture parties set forth in the joint venture arrangements and similar binding arrangements; and 

(v)    Investments in the ordinary course of business consisting of Uniform Commercial Code Article 3
endorsements for collection or deposit and Uniform Commercial Code Article 4 customary trade arrangements with customers consistent with past practice. 

“Permitted Junior Secured Refinancing Debt” means any secured Indebtedness (including any Registered Equivalent Notes)
incurred by the Borrower in the form of one or more series of second lien (or other junior lien) secured notes or second lien (or other junior lien) secured loans; provided, that (a) such Indebtedness is secured by the Collateral on a
second priority (or other junior priority) basis to the liens securing the Obligations and the obligations in respect of any Permitted Pari Passu Secured Refinancing Debt and is not secured by any property or assets of the Borrower or any Restricted
Subsidiary other than the Collateral, (b) such Indebtedness may be secured by a Lien on the Collateral that is junior to the Liens securing the Obligations and the obligations in respect of any Permitted Pari Passu Secured Refinancing Debt,
notwithstanding any provision to the contrary contained in the definition of Credit Agreement Refinancing Indebtedness, (c) a Representative acting on behalf of the holders of such Indebtedness shall have become party to or otherwise subject to
the provisions of a Second Lien Intercreditor Agreement with the Borrower, the Subsidiary Guarantors and the Administrative Agent, and (d) such Indebtedness meets the Permitted Other Debt Conditions. Permitted Junior Secured Refinancing Debt
will include any Registered Equivalent Notes issued in exchange therefor. 

  
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 “Permitted Liens” has the meaning assigned to such term in
Section 7.01. 
 “Permitted Other Debt Conditions” means, in respect of any Indebtedness other
than the Obligations, that such Indebtedness (a) does not mature or have scheduled amortization payments of principal or payments of principal and is not subject to mandatory redemption, repurchase, prepayment or sinking fund obligations (other
than customary offers to repurchase upon a change of control, asset sale or event of loss and a customary acceleration right after an event of default), in each case prior to the Latest Maturity Date at the time such Indebtedness is incurred,
(b) is not at any time guaranteed by any Subsidiaries other than any Subsidiary Guarantors, (c) to the extent secured, the security agreements relating to such Indebtedness are substantially the same as or more favorable to the Loan
Parties than the Collateral Documents (with such differences as are reasonably satisfactory to the Administrative Agent) and (d) in regard to any Refinancing Notes, the other terms and conditions (excluding pricing and optional prepayment or
redemption terms) are substantially identical to or (taken as a whole) less favorable to the investors providing such Refinancing Notes than the those applicable to the Term Loans being refinanced (except for covenants or other provisions applicable
only to periods after the latest final maturity date of the Term Loans and it being understood that the terms contained in the Senior Notes Indenture and the 2025 Senior Notes Indenture satisfy the requirements of this clause (d));
provided, that a certificate of a Responsible Officer delivered to the Administrative Agent at least five Business Days prior to the incurrence of the applicable Indebtedness, together with a reasonably detailed description of the material
terms and conditions of such Indebtedness and drafts of the documentation relating thereto, stating that the Borrower has determined in good faith that such terms and conditions satisfy the requirements of this clause (d) shall be
conclusive evidence that such terms and conditions satisfy such requirements. 
 “Permitted Pari Passu Secured Refinancing
Debt” means any secured Indebtedness (including any Registered Equivalent Notes) incurred by the Borrower in the form of one or more series of senior secured notes; provided, that (a) such Indebtedness is secured by the
Collateral on a pari passu basis (but without regard to the control of remedies) with the Obligations and is not secured by any property or assets of the Borrower or any Restricted Subsidiary other than the Collateral, (b) such
Indebtedness is not at any time guaranteed by any Subsidiaries other than any Subsidiary Guarantors, (c) such Indebtedness, (i) unless incurred as a Term Loan under this Agreement, does not mature or have scheduled amortization or payments
of principal (other than customary offers to repurchase upon a change of control, asset sale or event of loss and a customary acceleration right after an event of default) prior to the date that is the Latest Maturity Date at the time such
Indebtedness is incurred or issued, and (ii) if incurred as a term loan under this Agreement, does not mature earlier than, or have a Weighted Average Life to Maturity shorter than, the applicable Refinanced Debt, (d) the security
agreements relating to such Indebtedness (to the extent such Indebtedness is not incurred hereunder) are substantially the same as or more favorable to the Loan Parties than the Collateral Documents (with such differences as are reasonably
satisfactory to the Administrative Agent), (e) to the extent such Indebtedness is not incurred hereunder, a Representative acting on behalf of the holders of such Indebtedness shall have become party to or otherwise subject to the provisions of

  
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an Intercreditor Agreement with the Administrative Agent and (f) such Indebtedness, if consisting of Refinancing Notes, satisfies clause (d) of the definition of Permitted Other
Debt Conditions. Permitted Pari Passu Secured Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor. 

“Permitted Payments” has the meaning set forth in Section 7.05(b). 

“Permitted Unsecured Refinancing Debt” means unsecured Indebtedness (including any Registered Equivalent Notes) incurred by
the Borrower in the form of one or more series of senior unsecured notes or loans; provided, that (a) such Indebtedness constitutes Credit Agreement Refinancing Indebtedness and (b) meets the Permitted Other Debt Conditions. 

“Person” means any individual, corporation, limited liability company, partnership, joint venture, association, joint stock
company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity. 

“Plan” means any “employee benefit plan” as such term is defined in Section 3(3) of ERISA established or
maintained by any Loan Party or, with respect to any such plan that is subject to Section 412 of the Code or Title IV of ERISA, any ERISA Affiliate. 

“Platform” has the meaning assigned to such term in Section 6.02(b). 

“Preferred Stock” means any Equity Interest with preferential rights of payment of dividends or upon liquidation,
dissolution, or winding up. 
 “Prepayment Premium” has the meaning specified in
Section 2.04(a)(ii). 
 “Pro Forma Balance Sheet” means a pro forma combined balance
sheet of the Parent’s Time Inc. publishing segment that is prepared using the most recent such balance sheet included in the Audited Financial Statements and Quarterly Financial Statements (if any) delivered to the Administrative Agent, with
such changes as necessary to give pro forma effect to the Transactions as though the Transactions had been consummated on the date of such balance sheet. 

“Pro Forma Basis” and “Pro Forma Compliance” mean, with respect to compliance with any test or covenant
hereunder, that such test or covenant shall have been calculated in accordance with Section 1.08. 
 “Pro
Rata Share” means, with respect to each Lender at any time a fraction (expressed as a percentage, carried out to the ninth decimal place), the numerator of which is the amount of the Commitments of such Lender under the applicable Facility
or Facilities at such time and the denominator of which is the amount of the Aggregate Commitments under the applicable Facility or Facilities at such time; provided, that if such Commitments have been terminated, then the Pro Rata Share of
each Lender shall be determined based on the Pro Rata Share of such Lender immediately prior to such termination and after giving effect to any subsequent assignments made pursuant to the terms hereof. 

  
 47 

 “PTE” means a prohibited transaction class exemption issued by the U.S.
Department of Labor, as any such exemption may be amended from time to time. 
 “Public Lender” has the meaning assigned
to such term in Section 6.02(b). 
 “Qualified ECP Guarantor” means, in respect of any Swap
Obligation, each Guarantor that, at the time the relevant Guarantee or grant of the relevant security interest becomes effective with respect to such Swap Obligation, has total assets exceeding $10 million or such other Person as constitutes an
“eligible contract participant” under the Commodity Exchange Act or any regulations promulgated thereunder and can cause another Person to qualify as an “eligible contract participant” with respect to such Swap Obligation at such
time by entering into a keepwell under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. 
 “Quarterly Financial
Statements” means the unaudited combined balance sheet and related unaudited combined statements of income and cash flows of the Parent’s Time Inc. publishing segment, prepared on a stand-alone basis for each fiscal quarter ended after
December 31, 2013, and at least 60 days prior to the Closing Date. 
 “Rating Agencies” means Moody’s and
S&P or if Moody’s or S&P or both shall not make a rating on the Facilities publicly available, a nationally recognized statistical rating organization or organizations, as the case may be, selected by the Borrower which shall be
substituted for Moody’s or S&P or both, as the case may be. 
 “Ratio” means each of (a) the Consolidated
Secured Net Leverage Ratio and (b) the Consolidated Net Leverage Ratio. 
 “Real Property” means, collectively, all
right, title and interest in and to any and all parcels of or interests in real property owned by a Loan Party, together with, in each case, all improvements and appurtenant fixtures. 

“Receivables Exposure” means, in respect of any Receivables Facility at any time, the amount that would be required to
repay, discharge or satisfy all obligations owing to lenders or other third party investors that have made loans to the relevant Receivables Subsidiary or otherwise purchased interests in the receivables sold to the relevant Receivables Subsidiary
or extended credit in respect thereof, if such Receivables Facility were to be terminated at such time. 
 “Receivables
Facility” means any of one or more receivables financing facilities as amended, supplemented, modified, extended, renewed, restated or refunded from time to time, the obligations of which are
non-recourse (except for customary representations, warranties, covenants and indemnities made in connection with such facilities) to the Borrower or any of its Restricted Subsidiaries (other than a
Receivables Subsidiary) pursuant to which the Borrower or any of its Restricted Subsidiaries sells its accounts receivable to either (a) a Person that is not a Restricted Subsidiary or (b) a Receivables Subsidiary that in turn sells its
accounts receivable to (or finances its accounts receivable with) one or more Persons that are not Restricted Subsidiaries. 

  
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 “Receivables Fees” means distributions or payments made directly or by means of
discounts with respect to any accounts receivable or participation interest therein issued or sold in connection with, and other fees paid to a Person that is not a Restricted Subsidiary in connection with, any Receivables Facility. 

“Receivables Subsidiary” means any Subsidiary formed for the purpose of, and that solely engages only in, one or more
Receivables Facilities and other activities reasonably related thereto. 
 “Recipient” means the Administrative Agent, any
Lender and any L/C Issuer, as applicable. 
 “Refinance” means, in respect of any Indebtedness, Disqualified Stock
or Preferred Stock, to refinance, extend, renew, refund, repay, prepay, redeem, defease or retire, or to issue other Indebtedness, Disqualified Stock or Preferred Stock in exchange or replacement for, such Indebtedness, Disqualified Stock or
Preferred Stock. “Refinanced” and “Refinancing” shall have correlative meanings. 
 “Refinanced Debt”
has the meaning set forth in the definition of “Credit Agreement Refinancing Indebtedness.” 
 “Refinancing
Amendment” means an amendment to this Agreement executed by each of (a) the Borrower, (b) the Administrative Agent, and (c) each Additional Refinancing Lender and each Lender that agrees to provide any portion of the Other
Term Loans or Other Term Loan Commitments incurred pursuant thereto, in accordance with Section 2.14, and provided, that the Indebtedness pursuant to any such Refinancing Amendment (i) does not mature earlier
than, or have a Weighted Average Life to Maturity shorter than, the applicable Refinanced Debt and (ii) is not at any time guaranteed by any Subsidiaries other than Subsidiary Guarantors. 

“Refinancing Indebtedness” means Indebtedness, Disqualified Stock or Preferred Stock (including any Indebtedness,
Disqualified Stock or Preferred Stock incurred to pay premiums (including tender premiums), accrued interest, defeasance costs and reasonable fees and expenses in connection therewith) that Refinances any Indebtedness, Disqualified Stock or
Preferred Stock existing on the Closing Date or incurred thereafter in compliance with this Agreement, including Indebtedness, Disqualified Stock or Preferred Stock that Refinances Refinancing Indebtedness; provided that such Refinancing
Indebtedness: 
 (1)    either (A) has a Weighted Average Life to Maturity at the time such Refinancing
Indebtedness is incurred which is not less than the remaining Weighted Average Life to Maturity of the Indebtedness, Disqualified Stock or Preferred Stock being Refinanced or (B) does not require payments of principal (other than any such
payment that may arise as a result of an acceleration following default or pursuant to customary change of control, asset sale or casualty event provisions) prior to the date that is 91 days following the final scheduled maturity of the Facility;

 (2)    to the extent such Refinancing Indebtedness refinances (A) Indebtedness subordinated in right of payment
to the Facilities or any Guarantee thereof, such Refinancing 

  
 49 

 
Indebtedness is subordinated in right of payment to the Facilities or the Guarantee, as applicable, at least to the same extent as the Indebtedness being Refinanced or (ii) Disqualified
Stock or Preferred Stock, such Refinancing Indebtedness must be Disqualified Stock or Preferred Stock, respectively; and 

(3)    shall not include: 

(A)    Indebtedness, Disqualified Stock or Preferred Stock of a Non-Guarantor
Subsidiary that refinances Indebtedness, Disqualified Stock or Preferred Stock of the Borrower or a Subsidiary Guarantor; or 

(B)    Indebtedness, Disqualified Stock or Preferred Stock of the Borrower or a Restricted Subsidiary that refinances
Indebtedness, Disqualified Stock or Preferred Stock of an Unrestricted Subsidiary. 
 “Refinancing Notes” means Credit
Agreement Refinancing Indebtedness incurred in the form of notes rather than loans. 
 “Refinancing Series” means all
Other Term Loans or Other Term Loan Commitments that are established pursuant to the same Refinancing Amendment (or any subsequent Refinancing Amendment to the extent such Refinancing Amendment expressly provides that the Other Term Loans or Other
Term Loan Commitments provided for therein are intended to be a part of any previously established Refinancing Series) and that provide for the same terms, including the same yield (taking into account any applicable interest rate margin, original
issue discount, up-front fees and any LIBOR “floor”) and amortization schedule (if any). 

“Refunding Capital Stock” has the meaning set forth in Section 7.05(b)(ii). 

“Register” has the meaning set forth in Section 10.06(c). 

“Registered Equivalent Notes” means, with respect to any notes originally issued in an offering pursuant to Rule 144A under
the Securities Act or other private placement transaction under the Securities Act, substantially identical notes (having the same guarantees) issued in a
dollar-for-dollar exchange therefor pursuant to an exchange offer registered with the SEC. 

“Rejection Notice” has the meaning set forth in Section 2.04(b)(v). 

“Related Business Assets” means assets (other than cash or Cash Equivalents) used or useful in a Similar Business;
provided, that any assets received by the Borrower or a Restricted Subsidiary in exchange for assets transferred by the Borrower or a Restricted Subsidiary shall not be deemed to be Related Business Assets if they consist of securities of a
Person, unless upon receipt of the securities of such Person, such Person would be or become a Restricted Subsidiary. 
 “Related
Parties” means, with respect to any Person, its Affiliates and the directors, officers, employees, agents, advisors and representatives of such Person and its Affiliates. 

  
 50 

 “Release” means any spilling, leaking, seepage, pumping, pouring, emitting,
emptying, discharging, injecting, escaping, leaching, dumping, disposing, depositing, dispersing or migrating in, into, onto or through the Environment. 

“Reportable Event” means any of the events set forth in Section 4043(c) of ERISA or the regulations issued thereunder,
other than events for which the 30 day notice period has been waived. 
 “Representative” means, with respect to any
Indebtedness, the trustee, administrative agent, collateral agent, security agent or similar agent under the indenture or agreement pursuant to which such Indebtedness is issued, incurred or otherwise obtained, as the case may be, and each of their
successors in such capacities. 
 “Repricing Transaction” means (a) any prepayment (including by way of any
refinancing, replacement or conversion) of all or a portion of the initial Term Loans with proceeds from the incurrence by the Borrower of any new long-term financing in the bank debt market having an All-In
Yield that is less than the All-In Yield of the initial Term Loans (excluding any prepayments or refinancings in connection with a Change of Control) (as such comparable yields are determined in the reasonable
judgment of the Administrative Agent consistent with generally accepted financial practices) or (b) any amendment to this Agreement reducing the All-In Yield of the initial Term Loans. 

“Request for Credit Extension” means (a) with respect to a Borrowing, continuation or conversion of Term Loans or
Revolving Credit Loans, a Committed Loan Notice and (b) with respect to an L/C Credit Extension, a Letter of Credit Application. 

“Required Class Lenders” means, as of any date of determination (subject to
Section 10.01(f)), Lenders of a Class having more than 50% of the sum of (a) the Total Outstandings (with, in the case of the Revolving Credit Facility, the aggregate amount of each Lender’s risk
participation and funded participation in L/C Obligations being deemed “held” by such Lender for purposes of this definition) of all Lenders of such Class and (b) the aggregate unused Commitments of all Lenders of such Class;
provided, that the unused Commitment and the portion of the Total Outstandings of such Class held or deemed held by, any Defaulting Lender of such Class shall be excluded for purposes of making a determination of Required
Class Lenders. 
 “Required Financial Statements” means the financial statements required to be delivered pursuant to
Sections 6.01(a) and (b). 
 “Required Lenders” means, as of any date of determination (subject to
Section 10.01(f)), Lenders having more than 50% of the sum of the (a) Total Outstandings (with the aggregate amount of each Lender’s risk participation and funded participation in L/C Obligations being deemed
“held” by such Lender for purposes of this definition), (b) aggregate unused Term Commitments, and (c) aggregate unused Revolving Credit Commitments; provided, that the unused Term Commitment and unused Revolving Credit
Commitment of, and the portion of the Total Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders. 

  
 51 

 “Responsible Officer” means the chief executive officer, president, vice
president, chief financial officer, treasurer or assistant treasurer or other similar officer of a Loan Party and, as to any document delivered on the Closing Date, any secretary or assistant secretary of such Loan Party and, solely for purposes of
notices given pursuant to Article II, any other officer or employee of the applicable Loan Party so designated by any of the foregoing officers in a notice to the Administrative Agent; provided that, for the purposes
of Section 6.03, “Responsible Officer” shall only mean the chief executive officer, president, chief financial officer, treasurer or chief accounting officer or other similar officer of the Borrower. Any
document delivered hereunder that is signed by a Responsible Officer of a Loan Party shall be conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of such Loan Party and such
Responsible Officer shall be conclusively presumed to have acted solely in his/her representative capacity on behalf of such Loan Party and not individually. 

“Restricted Investment” means an Investment other than a Permitted Investment. 

“Restricted Payment” has the meaning set forth in Section 7.05(a). 

“Restricted Subsidiary” means, at any time, each direct and indirect Subsidiary of the Borrower (including any Foreign
Subsidiary) that is not then an Unrestricted Subsidiary; provided, however, that upon the occurrence of an Unrestricted Subsidiary ceasing to be an Unrestricted Subsidiary while such entity remains a Subsidiary of the Borrower, such
Subsidiary shall be included in the definition of “Restricted Subsidiary”. For purposes of this Agreement, and the interpretation thereof, for all periods prior to the completion of the
Spin-Off (including on and after the Closing Date), the Subsidiaries of the Parent that will be Subsidiaries of the Borrower upon completion of the Spin-Off will be
deemed to have been Restricted Subsidiaries of the Borrower (other than as specified in the definition of “Unrestricted Subsidiaries”). 

“Revaluation Date” means (a) with respect to any Letter of Credit denominated in an Alternative Currency, (i) the
date of issuance of such Letter of Credit, (ii) each date such Letter of Credit is amended to increase its stated amount, (iii) each date that such Letter of Credit is extended or renewed, (iv) each date of any payment by the
applicable L/C Issuer under such Letter of Credit, (v) if such Letter of Credit is denominated in a Permitted Additional L/C Currency, such additional dates as the Administrative Agent or applicable L/C Issuer shall reasonably determine based
on changes in exchange rates, and (vi) the last Business Day of each March, June, September and December (unless a Revaluation Date shall have occurred in respect of such Letter of Credit pursuant to clause (i), (ii),
(iii), (iv) or (v) above less than 30 days prior to such last Business Day) and (b) with respect to any Revolving Credit Borrowing denominated in an Alternative Currency, the date of commencement of each Interest
Period for such Revolving Credit Borrowing. 
 “Revolving Credit Borrowing” means a borrowing consisting of simultaneous
Revolving Credit Loans of the same Type and Class, and in the same currency, and, in the case of Eurocurrency Rate Loans, having the same Interest Period made by each of the Revolving Credit Lenders of such Class pursuant to
Section 2.01(b). 

  
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 “Revolving Credit Commitment” means, as to each Revolving Credit Lender, its
obligation to (a) make Revolving Credit Loans to the Borrower pursuant to Section 2.01(b) and (b) purchase participations in L/C Obligations in respect of Letters of Credit, in an aggregate principal amount at any
one time outstanding not to exceed the amount set forth, and opposite such Lender’s name on Schedule 1.01A under the caption “Revolving Credit Commitment” or in the Assignment and Assumption pursuant to which such Lender
becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement (including Section 2.13). The aggregate Revolving Credit Commitments of all Revolving Credit Lenders
on the First Amendment Effective Date is $300 million. 
 “Revolving Credit Exposure” means, as to each Revolving
Credit Lender at any time, the Dollar Equivalent of the sum of the outstanding principal amount of each of such Revolving Credit Lender’s Revolving Credit Loans and its Pro Rata Share of the amount of the L/C Obligations . 

“Revolving Credit Facility” means, at any time, the credit facility represented by the aggregate amount of the Revolving
Credit Lenders’ Revolving Credit Commitments at such time. 
 “Revolving Credit Lender” means, at any time, any
Lender that has a Revolving Credit Commitment at such time. 
 “Revolving Credit Loan” has the meaning specified in
Section 2.01(b). 
 “Revolving Credit Note” means a promissory note of the Borrower payable to
any Revolving Credit Lender or its registered assigns, in substantially the form of Exhibit B-2 hereto, evidencing the aggregate Indebtedness of the Borrower to such Revolving Credit Lender resulting
from the Revolving Credit Loans made by such Revolving Credit Lender to the Borrower. 
 “Revolving Extension Offers” has
the meaning specified in Section 2.15(a). 
 “S&P” means Standard & Poor’s
Ratings Services, a division of McGraw Hill Financial, Inc., or any successor to its rating agency business. 
 “Sale and
Lease-Back Transaction” means any direct or indirect arrangement providing for the leasing by the Borrower or any of its Restricted Subsidiaries of any real or tangible personal property (other than a lease for a term not exceeding 12
months), which property has been or is to be sold or transferred for value by the Borrower or such Restricted Subsidiary to a third Person in contemplation of such leasing. 

“Same Day Funds” means immediately available funds. 

“Sanction” or “Sanctions” means any international economic sanction (transaction prohibition or
asset-freeze) issued, administered or enforced by the United States Government (including OFAC), the United Nations Security Council, the European Union, Her Majesty’s Treasury or other applicable governmental authority. 

  
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 “Sanctioned Country” means, at any time, any country or territory designated
for comprehensive economic Sanctions that broadly restrict trade and investment with that country or territory. As of October 11, 2017, each of the following countries is a Sanctioned Country: Cuba, Iran, North Korea, Sudan, Syria and the
Crimea region of Ukraine. 
 “Sanctioned Person” means, (a) any Person named on any publicly available list related
to Sanctions maintained by OFAC, the U.S. Department of State’s Sanctioned Entity List, and other similar publicly available sanctions lists maintained by the United Nations Security Council, the European Union or Her Majesty’s Treasury of
the United Kingdom; (b) any Person operating, organized or resident in a Sanctioned Country or (c) any Person owned or controlled by any such Person or Persons. 

“SEC” means the U.S. Securities and Exchange Commission. 

“Second Lien Intercreditor Agreement” means a second-lien intercreditor agreement among the Loan Parties, the Administrative
Agent, the Collateral Agent and the trustee, agent or other representative for holders of any Indebtedness (a) constituting Permitted Junior Secured Refinancing Debt and (b) secured by a Lien on the Collateral that is
(i) permitted by clause (37) and (ii) on a second priority (or other junior priority) basis to the liens securing the Obligations and the obligations in respect of any Permitted Pari Passu Secured Refinancing Debt
and (iii) is not secured by any property or assets of the Borrower or any Restricted Subsidiary other than the Collateral, which intercreditor agreement shall be consistent with the then existing market practice and reasonably acceptable to the
Required Lenders (it being understood that (A) any such intercreditor agreement shall be considered acceptable to a Lender if made available to such Lender by the Administrative Agent (through Intralinks or similar facility) and such Lender is
informed that such intercreditor agreement shall be considered acceptable to it if there is no objection within five Business Days, and no such objection is made and (B) such intercreditor agreement shall be deemed accepted if accepted or
deemed accepted by the Required Lenders). 
 “Secured Hedge Agreement” means any Swap Contract permitted under
Article VII that is entered into by and between any Loan Party (or Non-Guarantor Subsidiary) and any Hedge Bank, other than any such Swap Contract that, by its terms, or by the terms
of any separate agreement between the parties thereto, is agreed not to constitute a Secured Hedge Agreement. 
 “Secured
Indebtedness” means any Indebtedness of the Borrower or any of its Restricted Subsidiaries secured by a Lien. For the avoidance of doubt, Attributable Indebtedness will be considered to be secured by the assets that are the subject of a
Sale and Lease-Back Transaction. 
 “Secured Parties” means, collectively, the Administrative Agent, the Collateral Agent,
the Lenders, the Hedge Banks and each co-agent or sub-agent appointed by the Administrative Agent or Collateral Agent from time to time pursuant to
Section 9.02. 
 “Securities Act” means the Securities Act of 1933, as amended, and the rules
and regulations of the SEC promulgated thereunder. 

  
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 “Security Agreement” has the meaning specified in
Section 4.02(c)(ii). 
 “Senior Notes” means the Borrower’s senior unsecured notes due 2022
in an aggregate original principal amount of $700 million issued under the Senior Notes Indenture (of which approximately $575 million aggregate principal amount remained outstanding immediately prior to the issuance of the 2025 Senior
Notes). 
 “Senior Notes Indenture” means the indenture for the Senior Notes, entered into among the Borrower as issuer,
Wells Fargo Bank, National Association, as trustee, and the other entities from time to time party thereto, as the same may be amended, modified, supplemented, replaced or refinanced to the extent not prohibited by this Agreement. 

“Separation and Distribution Agreement” means the Separation and Distribution Agreement between the Parent and the Borrower,
to be dated on or prior to the Distribution Date. 
 “Similar Business” means any business, services or activities
conducted or proposed to be conducted by the Borrower or any of its Subsidiaries on the Closing Date or any business, services or activities that are similar, reasonably related, incidental, complementary or ancillary to any of the foregoing or are
extensions or developments of any thereof. 
 “Solvent” and “Solvency” mean, with respect to any Person
on any date of determination, that on such date (a) the fair value of the property of such Person is greater than the total amount of liabilities, including contingent liabilities, of such Person; (b) the present fair salable value of the
assets of such Person is greater than the amount that will be required to pay the probable liability of such Person on the sum of its debts and other liabilities, including contingent liabilities; (c) such Person has not incurred debts or
liabilities beyond such Person’s ability to pay such debts and liabilities as they become due (whether at maturity or otherwise); and (d) such Person does not have unreasonably small capital with which to conduct the businesses in which it
is engaged as such businesses are now conducted and are proposed to be conducted following the Closing Date. The amount of contingent liabilities at any time shall be computed as the amount that, in the light of all the facts and circumstances
existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability. 

“SPC” has the meaning specified in Section 10.06(h). 

“Special Dividend” has the meaning assigned to such term in the preamble to this Agreement. 

“Specified Transaction” means, with respect to any period, any Investment, Disposition, incurrence or repayment of
Indebtedness, Restricted Payment, Subsidiary designation (as “Restricted” or “Unrestricted”), merger, amalgamation, consolidation, Incremental Term Loan or any other transaction, in each case that by the terms of this Agreement
requires “Pro Forma Compliance” with a test or covenant hereunder or requires such test or covenant to be calculated on a “Pro Forma Basis”. 

“Spin-Off” means the Internal Reorganization and the Distribution. 

  
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 “Spin-Off Documents” means the
Separation and Distribution Agreement, Transition Services Agreement, Tax Matters Agreement, Employee Matters Agreement and any other instruments, assignments, documents and agreements executed in connection with the implementation of the
transactions contemplated by any of the foregoing. 
 “Springing Maturity Date” means January 14, 2022. 

“Sterling” or “£” means the lawful currency of the United Kingdom. 

“Subordinated Indebtedness” means: 

(a)    any Indebtedness of the Borrower which is by its terms subordinated in right of payment to the
Obligations; and 
 (b)    any Indebtedness of a Guarantor which is by its terms subordinated in right of
payment to the Guaranty of such Guarantor. 
 “Subsidiary” means, with respect to any Person: 

(a)    any corporation, association, or other business entity (other than a partnership, limited liability
company or similar entity) of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time
of determination owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof; and 

(b)    any partnership, limited liability company or similar entity of which 

(i) more than 50% of the voting interests or general partnership interests, as applicable, are owned or controlled, directly
or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof whether in the form of membership, general, special or limited partnership or otherwise; and 

(ii) such Person or any Restricted Subsidiary of such Person is a controlling general partner or otherwise controls such
entity. 
 “Subsidiary Guarantor” means (a) any Restricted Subsidiary listed on
Schedule 1.01C and party hereto as of the Closing Date that Guarantees the Obligations pursuant to Article XI and (b) those Restricted Subsidiaries that become a party hereto after the Closing
Date and Guarantee the Obligations pursuant to Article XI, in each case until its Guarantee is released or terminated in accordance with the terms hereof. 

“Successor Company” has the meaning specified in Section 7.03(d). 

“Survey” means a survey of any Real Property subject to a Mortgage (and all improvements thereon) which is (a) prepared
by a surveyor or engineer licensed to perform surveys in the jurisdiction where such Real Property is located and (b) complying in all material respects with the minimum detail requirements of the American Land Title Association as such
requirements are in effect on the date of preparation of such survey. 

  
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 “Swap” means any agreement, contract or transaction that constitutes a
“swap” within the meaning of section 1 a(47) of the Commodity Exchange Act. 
 “Swap Contract” means
(a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond
index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate swaps and options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap
transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such
transaction is governed by or subject to any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published
by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”),
including any such obligations or liabilities under any Master Agreement. 
 “Swap Obligation” means, with respect to any
Guarantor, any obligation to pay or perform under any Swap. 
 “TARGET Day” means any day on which TARGET2 is open for
business. 
 “TARGET2” means the Trans-European Automated Real Time Gross Settlement Express transfer payment system which
utilizes a single shared platform and which was launched on 19 November 2007. 
 “Taxes” means any present or future
taxes, duties, levies, imposts, deductions, assessments, fees, withholdings or similar charges imposed by any Governmental Authority, including any interest, additions to tax and penalties applicable thereto. 

“Tax Group” has the meaning specified in Section 7.05(b)(xii). 

“Tax Matters Agreement” means the Tax Matters Agreement between the Parent and the Borrower, to be dated on or prior to the
Distribution Date. 
 “Term Borrowing” means a borrowing consisting of simultaneous Term Loans of the same Type and
Class and, in the case of Eurocurrency Rate Loans, having the same Interest Period made by each of the Term Lenders. 
 “Term
Commitment” means, as to each Term Lender, its obligation to make a Term Loan to the Borrower pursuant to Section 2.01(a) in an aggregate amount not to exceed the amount set forth opposite such Lender’s name
on Schedule 1.01A under the caption “Term Commitment” or in the Assignment and Assumption pursuant to which such Term Lender 

  
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becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement (including Section 2.13). The aggregate amount
of the Term Commitments as of April 24, 2014 was $700 million. 
 “Term Lender” means, at any time, any Lender
that has a Term Commitment or a Term Loan at such time. 
 “Term Loan” means a Loan made pursuant to
Section 2.01(a). On the First Amendment Effective Date, after giving effect to the First Amendment Effective Date Prepayment, the outstanding principal amount of Term Loans is $462.25 million. 

“Term Loan Standstill Period” has the meaning set forth in Section 8.01(b). 

“Term Note” means a promissory note of the Borrower payable to any Term Lender or its registered assigns, in substantially
the form of Exhibit B-1 hereto, evidencing the aggregate Indebtedness of the Borrower to such Term Lender resulting from the Term Loans made by such Term Lender. 

“Term Extension Offers” has the meaning specified in Section 2.15(a). 

“Test Period” means, for any date of determination under this Agreement, the four consecutive fiscal quarters of the
Borrower then last ended. 
 “Threshold Amount” means $50 million (or the equivalent thereof in any foreign
currency). 
 “Title Policy” means a policy of title insurance (or marked-up title
insurance commitment having the effect of a policy of title insurance) insuring the Lien of a Mortgage as a valid mortgage Lien (subject only to Permitted Liens and such other exceptions to title reasonably acceptable to the Administrative Agent) on
the mortgaged property described therein in the amount equal to no more than the fair market value of such mortgaged property, issued by a title company reasonably acceptable to the Collateral Agent which shall (a) to the extent necessary,
include such reinsurance arrangements (with provisions for direct access, if necessary) as shall be reasonably acceptable to the Collateral Agent; (b) contain a “tie-in” or “cluster”
endorsement, if available under applicable law (i.e., policies which insure against losses regardless of location or allocated value of the insured property up to a stated maximum coverage amount) if multiple policies are simultaneously issued; and
(c) have been supplemented by such endorsements as shall be reasonably requested by the Collateral Agent (including endorsements, if available, on matters relating to usury, first loss, zoning, contiguity, revolving credit, doing business,
public road access, survey, variable rate, environmental lien, subdivision, mortgage recording tax, separate tax lot, revolving credit and so-called comprehensive coverage over covenants and restrictions);
provided that, where the cost of a zoning endorsement is excessive in light of the nature of the transaction the Administrative Agent shall reasonably consider the Borrower’s requests to waive such zoning endorsement and to provide a
zoning opinion, report or other letter in form and substance reasonably satisfactory to the Administrative Agent. 

  
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 “Total Outstandings” means the aggregate Outstanding Amount of (a) all
Loans and all L/C Obligations or (b) if the context requires, all Loans and all L/C Obligations of the applicable Class. 

“Transactions” means (1) (A) the Spin-Off, (B) any other transactions
contemplated by, or pursuant to, the Spin-Off Documents or otherwise in connection with the Spin-Off (including any cancellation or termination of Indebtedness,
agreements, arrangements, commitments or understandings, including intercompany accounts payables, receivables or Indebtedness, between the Borrower or any of its Restricted Subsidiaries, on the one hand, and the Parent or any of its other
Subsidiaries, on the other hand, and making certain intercompany contributions and dividend payments) and (C) any other transactions pursuant to agreements or arrangements in effect on the Distribution Date on substantially the terms described
in the Form 10 or any amendment, modification, addition or supplement thereto or replacement thereof, as long as the terms of such agreement or arrangement, as so amended, modified, added, supplemented or replaced are not materially more
disadvantageous to the Lenders when taken as a whole compared to the applicable agreements as described in the Form 10 (as determined in good faith by the Borrower), (2) the execution and delivery of the Loan Documents and funding of the initial
Term Loans, (3) the issuance of the Senior Notes and (4) the payment of fees and expenses in connection with the foregoing. 

“Transition Services Agreement” means the Transition Services Agreement between the Parent and the Borrower, to be dated on
or prior to the Distribution Date. 
 “Treasury Services Agreement” means any agreement between any Loan Party (or any Non-Guarantor Subsidiary) and any Hedge Bank relating to commercial credit or debit card, merchant card, or purchasing card programs (including non-card e-payables services), or treasury, depository, or cash management services (including automatic clearing house transfer of funds, overdraft, controlled disbursement, electronic funds transfer, lockbox, stop payment,
return item and wire transfer services), other than any such agreement that by its terms, or by the terms of any separate agreement between the parties thereto, is agreed not to constitute a Treasury Services Agreement. 

“Type” means, with respect to a Loan, its character as a Base Rate Loan or a Eurocurrency Rate Loan. 

“U.S. Lender” means any Lender that is a “United States person” as defined in Section 7701(a)(30) of the
Code. 
 “Undisclosed Administration” means in relation to a Lender the appointment of an administrator, provisional
liquidator, conservator, receiver, trustee, custodian or other similar official by a supervisory authority or regulator under or based on the law in the country where such Lender is subject to home jurisdiction supervision if applicable law requires
that such appointment is not to be publicly disclosed. 
 “Uniform Commercial Code” or “UCC” means the
Uniform Commercial Code as the same may from time to time be in effect in the State of New York or the Uniform Commercial Code (or similar code or statute) of another jurisdiction, to the extent it may be required to apply to any item or items of
Collateral. 

  
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 “United States” and “U.S.” mean the United States of America.

 “United States Tax Compliance Certificate” has the meaning set forth in
Section 3.01(d)3.01(d)(ii)(C). 
 “Unreimbursed Amount” has the meaning set forth in
Section 2.03(c)(i). 
 “Unrestricted Subsidiary” means: 

(a)    any Subsidiary of the Borrower which at the time of determination is an Unrestricted Subsidiary (as
designated by the Borrower pursuant to Section 6.14); 
 (b)    any Subsidiary
of an Unrestricted Subsidiary; and 
 (c)    each of TI Mexico Holdings Inc. and its Subsidiaries (except
to the extent TI Mexico Holdings Inc. or any such Subsidiary is designated by the Borrower to be a Restricted Subsidiary pursuant to Section 6.14). 

As of the Closing Date, all of the Borrower’s Subsidiaries (other than as set forth in clause (c) above) are Restricted
Subsidiaries. 
 “USA Patriot Act” has the meaning specified in Section 5.14. 

“Voting Stock” of any Person as of any date means the Capital Stock of such Person that is at the time entitled to vote in
the election of the board of directors or other governing body of such Person. 
 “Weighted Average Life to Maturity”
means, when applied to any Indebtedness, Disqualified Stock or Preferred Stock, as the case may be, at any date, the quotient obtained by dividing: (a) the sum of the products of the number of years from the date of determination to the date of
each successive scheduled principal payment of such Indebtedness or scheduled redemption or similar payment with respect to such Disqualified Stock or Preferred Stock multiplied by the amount of such payment, by (b) the sum of all such
payments; provided, that for purposes of determining the Weighted Average Life to Maturity of any Refinanced Debt or any Indebtedness that is being modified, refinanced, refunded, renewed, replaced or extended, the effects of any amortization
or prepayments made on such Indebtedness prior to the date of the applicable modification, refinancing, refunding, renewal, replacement or extension shall be disregarded. 

“Wholly Owned Domestic Subsidiary” means any Wholly Owned Subsidiary of the Borrower that is also a Domestic Subsidiary.

 “Wholly Owned Subsidiary” of any Person means a Subsidiary of such Person, 100% of the outstanding Equity Interests of
which (other than directors’ qualifying shares or shares or interests required to be held by foreign nationals or other third parties to the extent required by applicable law) shall at the time be owned by such Person or by one or more Wholly
Owned Subsidiaries of such Person. 

  
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 “Withholding Agent” means any Loan Party, the Administrative Agent and, in the
case of any U.S. federal withholding Tax, any other applicable withholding agent. 
 “Write-Down and Conversion Powers”
means, with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country,
which write-down and conversion powers are described in the EU Bail-In Legislation Schedule. 

SECTION 1.02.    Other Interpretive Provisions. With reference to this Agreement and each other Loan Document,
unless otherwise specified herein or in such other Loan Document or the context otherwise requires: 
 (a)    The
meanings of defined terms are equally applicable to the singular and plural forms of the defined terms. 
 (b)    The
words “herein,” “hereto,” “hereof” and “hereunder “and words of similar import when used in any Loan Document shall refer to such Loan Document as a whole and not to any particular provision thereof. 

(c)    Article, Section, Exhibit and Schedule references are to the Loan Document in which such reference appears. 

(d)    The term “including” is by way of example and not limitation. 

(e)    The term “documents” includes any and all instruments, documents, agreements, certificates, notices,
reports, financial statements and other writings, however evidenced, whether in physical or electronic form. 

(f)    In the computation of periods of time from a specified date to a later specified date, the word “from”
means “from and including; “the words “to” and “until” each mean “to but excluding; “and the word “through” means “to and including.” 

(g)    Section headings herein and in the other Loan Documents are included for convenience of reference only and shall
not affect the interpretation of this Agreement or any other Loan Document. 
 (h)    The term “fair market value
(as determined in good faith by the Borrower)” means the fair market value (as determined in good faith by the Borrower) whose determination will be conclusive for all purposes under this Agreement. 

SECTION 1.03.    Accounting Terms; GAAP. (a) All accounting terms not specifically or completely defined
herein shall be construed in conformity with GAAP, except as otherwise specifically prescribed herein. 

  
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 (b)    Notwithstanding anything to the contrary herein, for purposes of this
Agreement (including in determining compliance with any test or covenant contained herein) with respect to (i) any Test Period during which any Specified Transaction occurs, the applicable Ratio shall be calculated with respect to such Test
Period and such Specified Transaction on a Pro Forma Basis and (ii) any Test Period with respect to which testing is based on a Specified Transaction happening after the end of such Test Period, the applicable Ratio shall be calculated as if
such Specified Transaction had taken place on the first day of such Test Period. 
 (c)    If the Borrower notifies the
Administrative Agent that the Borrower wishes to amend any provision hereof to eliminate the effect of any change in GAAP (or in the application thereof) occurring after the Closing Date on the operation of such provision (or if the Administrative
Agent notifies the Borrower that the Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then the
compliance of the Borrower and its Subsidiaries with such provision shall be determined on the basis of GAAP as in effect (and as applied) immediately before the relevant change became effective, until either such notice is withdrawn or such
provision is amended in a manner satisfactory to the Borrower and the Required Lenders. Until such notice is withdrawn or the relevant provision is so amended, the Borrower shall provide to the Administrative Agent and the Lenders financial
statements and other documents required under this Agreement setting forth a reconciliation between calculations made with respect to the relevant provision before and after giving effect to such change in GAAP. Notwithstanding any other provision
of this agreement, in no event shall a lease obligation that does not constitute a Capitalized Lease Obligation under GAAP as in effect on April 24, 2014 be treated as a Capitalized Lease Obligation for any purpose hereof. 

(d)    Notwithstanding any other provision contained herein, all terms of an accounting or financial nature used herein
shall be construed, and all computations of amounts and ratios referred to herein shall be made, (i) without giving effect to any election under Statement of Financial Accounting Standards 159, The Fair Value Option for Financial Assets and
Financial Liabilities, or any successor thereto (including pursuant to the Accounting Standards Codification), to value any Indebtedness or other liabilities of the Borrower or any Subsidiary at “fair value”, as defined therein and
(ii) without giving effect to any change to GAAP occurring after April 24, 2014 as a result of the adoption of any proposals set forth in the Proposed Accounting Standards Update, Leases (Topic 840), issued by the Financial Accounting
Standards Board on August 17, 2010, or any other proposals issued by the Financial Accounting Standards Board in connection therewith, in each case if such change would require treating any lease (or similar arrangement conveying the right to
use) as a capital lease where such lease (or similar arrangement) was not required to be so treated under GAAP as in effect on April 24, 2014. 

SECTION 1.04.    Rounding. Any financial ratios required to be maintained by the Borrower pursuant to this
Agreement (or required to be satisfied in order for a specific action to be permitted under this Agreement) shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of
places by which such ratio is expressed herein and rounding the result up or down to the nearest number (with a rounding up if there is no nearest number). 

  
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 SECTION 1.05.    References to Agreements, Laws, Etc. Unless
otherwise expressly provided herein, (a) references to Organization Documents, agreements (including the Loan Documents) and other contractual instruments shall be deemed to include all subsequent amendments, restatements, extensions,
supplements and other modifications thereto, but only to the extent that such amendments, restatements, extensions, supplements and other modifications are permitted by the Loan Documents, and (b) references to any Law shall include all
statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting such Law. 
 SECTION
1.06.    Times of Day. Unless otherwise specified or the context otherwise requires, all references herein to times of day shall be references to Eastern time (daylight or standard, as applicable). 

SECTION 1.07.    Timing of Payment of Performance. When the payment of any obligation or the performance of any
covenant, duty or obligation is stated to be due or performance required on a day which is not a Business Day, the date of such payment (other than as described in the definition of Interest Period) or performance shall extend to the immediately
succeeding Business Day. 
 SECTION 1.08.    Pro Forma and Other Calculations. (a) Notwithstanding anything
to the contrary herein, financial ratios and tests, including the Ratios, shall be calculated in the manner prescribed by this Section 1.08; provided, that notwithstanding anything to the contrary in clauses
(b), (c), (d) or (e) of this Section 1.08, when calculating any Ratio for purposes of (i) the definition of “Applicable Rate” and
(ii) Section 7.08 (other than for the purpose of determining Pro Forma Compliance with Section 7.08), the events described in this Section 1.08 that occurred
subsequent to the end of the applicable Test Period shall not be given pro forma effect. 
 (b)    In the event
that the Borrower or any of its Restricted Subsidiaries incurs, assumes, guarantees, redeems, retires or extinguishes any Indebtedness or issues or redeems Disqualified Stock or Preferred Stock subsequent to the Test Period for which any Ratio is
being calculated but prior to or simultaneously with the event for which the calculation of the applicable Ratio is made (the “Ratio Calculation Date”), then the applicable Ratio shall be calculated giving pro forma effect to
such incurrence, assumption, guarantee, redemption, retirement or extinguishment of Indebtedness, or such issuance or redemption of Disqualified Stock or Preferred Stock, as if the same had occurred on the last day of the applicable Test Period;
provided, however, that, for purposes of any pro forma calculation of the Consolidated Net Leverage Ratio on such determination date pursuant to the provisions described in Section 7.02(a), the pro
forma calculation shall not give effect to any Indebtedness incurred on such determination date pursuant to the provisions described under Section 7.02(b). 

(c)    For purposes of making the computation referred to above, Investments, acquisitions, Dispositions, mergers,
amalgamations and consolidations (as determined in accordance with GAAP), in each case with respect to a business (as such term is used in Regulation S-X Rule 11-01
under the Securities Act), a company, a segment, an operating division or unit or line of business that the Borrower, or any of its Restricted Subsidiaries has determined to make and/or made during the Test Period or subsequent to such Test Period
and on 

  
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or prior to or simultaneously with the Ratio Calculation Date shall be calculated on a pro forma basis in accordance with GAAP (except as set forth in the last sentence of
clause (d) below) assuming that all such Investments, acquisitions, Dispositions, mergers, amalgamations and consolidations (and the change in any associated fixed charge obligations and the change in Consolidated Adjusted
EBITDA resulting therefrom, subject to any limitations set forth in clause (a)(x) of the definition thereof, to the extent applicable) had occurred on the first day of the Test Period. If since the beginning of such Test Period any Person
that subsequently became a Restricted Subsidiary or was merged with or into the Borrower or any of its Restricted Subsidiaries since the beginning of such Test Period shall have made any Investment, acquisition, disposition, merger, amalgamation and
consolidation, in each case with respect to a business (as such term is used in Regulation S-X Rule 11-01 under the Securities Act), a company, a segment, an operating
division or unit or line of business that would have required adjustment pursuant to this Section 1.08, then the applicable Ratio shall be calculated giving pro forma effect thereto for such Test Period as if such
Investment, acquisition, disposition, merger and consolidation had occurred at the beginning of the applicable Test Period. 

(d)    For purposes of making the computation referred to above, whenever pro forma effect is to be given to a
transaction, the pro forma calculations shall be made in good faith by a responsible financial or accounting officer of the Borrower. Any such pro forma calculation may include adjustments appropriate, in the reasonable determination
of the Borrower as set forth in an officer’s certificate, to reflect reasonably identifiable and factually supportable operating expense reductions and other operating improvements or synergies reasonably expected to result from any action
taken or expected to be taken within 12 months after the date of any acquisition, amalgamation or merger (subject to any limitations set forth in clause (a)(x) of the definition of Consolidated Adjusted EBITDA, to the extent applicable);
provided, that no such amounts shall be included pursuant to this paragraph to the extent duplicative of any amounts that are otherwise added back in computing Consolidated Adjusted EBITDA with respect to such period. 

(e)    For purposes of calculation of any Ratio, any amount in a currency other than Dollars will be converted to Dollars
in a manner consistent with that used by the Borrower for purposes of preparing its financial statements, in accordance with GAAP. 

SECTION 1.09.    Letter of Credit Amounts. Unless otherwise specified herein, the amount of a Letter of Credit at
any time shall be deemed to be the stated amount of such Letter of Credit in effect at such time; provided, however, that with respect to any Letter of Credit that, by its terms or the terms of any Issuer Document related thereto,
provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such
maximum stated amount is in effect at such time. 
 SECTION 1.10.    Determination of Dollar Equivalents. The
Administrative Agent shall determine the Dollar Equivalent of any Revolving Credit Borrowing denominated in an Alternative Currency and any Letter of Credit denominated in an Alternative Currency, in each case, on the applicable Revaluation Date. In
such determination, the Administrative Agent shall use the Exchange Rate for such currency in relation to Dollars in effect on the date that is three Business Days prior to the applicable Revaluation Date, and each resulting amount of such

  
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determination shall be the Dollar Equivalent of such Revolving Credit Loan or such Letter of Credit, as the case may be, until the next required calculation thereof pursuant to this Section. The
Administrative Agent shall notify the Borrower and the Revolving Credit Lenders of each calculation of the Dollar Equivalent of each Revolving Credit Borrowing or Letter of Credit. 

SECTION 1.11.    Cashless Rollovers. Notwithstanding anything to the contrary contained in this Agreement or in
any other Loan Document, to the extent that any Lender extends the maturity date of, or replaces, renews or refinances, any of its then-existing Loans (including with Incremental Term Loans, Loans in
connection with any Refinancing Indebtedness or loans incurred under a new credit facility), in each case, to the extent such extension, replacement, renewal or refinancing is effected by means of a “cashless roll” by such Lender, such
extension, replacement, renewal or refinancing shall be deemed to comply with any requirement hereunder or any other Loan Document that such payment be made “in Dollars” (or any applicable Alternative Currency), “in immediately
available funds”, “in cash” or any other similar requirement. 
 ARTICLE II 

THE COMMITMENTS AND CREDIT EXTENSIONS 

SECTION 2.01.    The Loans. (a) The Term Borrowings. Subject to the terms and conditions set forth
herein, each Term Lender severally agrees to make to the Borrower, on the Closing Date, Term Loans denominated in Dollars in the aggregate amount of such Term Lender’s Term Commitment. Amounts borrowed under this
Section 2.01(a) and repaid or prepaid may not be reborrowed. Term Loans may be Base Rate Loans or Eurocurrency Rate Loans, as further provided herein. 

(b)    The Revolving Credit Borrowings. Subject to the terms and conditions set forth herein, each Revolving
Credit Lender severally agrees to make Loans denominated in Dollars or an Alternative Currency to the Borrower from its applicable Lending Office (each such loan, a “Revolving Credit Loan”) from time to time, on any Business Day
during the period from and including the Distribution Date until the Business Day preceding the Maturity Date for the Revolving Credit Facility; provided, that after giving effect to any Revolving Credit Borrowing, (i) the Revolving
Credit Exposure of any Revolving Credit Lender shall not exceed such Lender’s Revolving Credit Commitment, (ii) the aggregate Alternative Currency Exposures (excluding those in respect of Letters of Credit denominated in a Permitted
Additional L/C Currency) shall not exceed the Alternative Currency Sublimit and (iii) the aggregate Revolving Credit Exposures shall not exceed the aggregate Revolving Credit Commitments. Within the limits of each Lender’s Revolving Credit
Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01(b), prepay under Section 2.04, and reborrow under this
Section 2.01(b). Revolving Credit Loans denominated in Dollars may be Base Rate Loans or Eurocurrency Rate Loans, and Revolving Credit Loans denominated in an Alternative Currency shall be Eurocurrency Rate Loans, in each
case, as further provided herein. 
 SECTION 2.02.    Borrowings, Conversions and Continuations of Loans.
(a) Each Term Borrowing, each Revolving Credit Borrowing, each conversion of Term Loans or 

  
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Revolving Credit Loans from one Type to the other, and each continuation of Eurocurrency Rate Loans shall be made upon the Borrower’s notice to the Administrative Agent, which may be given
by telephone. Each such notice must be received by the Administrative Agent not later than (i) 2:00 p.m. New York City time three Business Days prior to the requested date of any Borrowing or continuation of Eurocurrency Rate Loans or any
conversion of Base Rate Loans to Eurocurrency Rate Loans (or, in the case of any such Borrowing of the initial Term Loans, such shorter period of time as may be agreed to by the Administrative Agent), and (ii) 2:00 p.m. New York City time on
the requested date of any Borrowing of Base Rate Loans. Each telephonic notice by the Borrower pursuant to this Section 2.02(a) must be confirmed promptly by delivery to the Administrative Agent of a written Committed Loan
Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Except as provided in Section 2.13(a), each Borrowing of, conversion to or continuation of Eurocurrency Rate Loans shall be in a minimum
principal amount of (A) in the case of Eurocurrency Rate Loans denominated in Dollars, $5 million, or a whole multiple of $1 million, in excess thereof, (B) in the case of Eurocurrency Rate Loans denominated in Euros,
€5 million, or a whole multiple of €100,000, in excess thereof, and (C) in the case of Eurocurrency Rate Loans denominated in Sterling, £2 million, or a whole multiple of £100,000, in excess thereof. Except as
provided in Section 2.03(c), 2.13(a) or the last sentence of this paragraph, each Borrowing of or conversion to Base Rate Loans shall be in a minimum principal amount of $1 million or a whole multiple of
$500,000 in excess thereof. Each Committed Loan Notice (whether telephonic or written) shall specify (i) whether the Borrower is requesting a Term Borrowing, a Revolving Credit Borrowing, a conversion of Term Loans or Revolving Credit Loans
from one Type to the other, or a continuation of Eurocurrency Rate Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Loans to be
borrowed, converted or continued (and, in the case of a Revolving Credit Borrowing, the currency in which such Borrowing is to be denominated, which shall be Dollars or an Alternative Currency), (iv) the Type of Loans to be borrowed or to which
existing Term Loans or Revolving Credit Loans are to be converted, and (v) if applicable, the duration of the Interest Period with respect thereto. If the Borrower fails to specify a Type of Loan in a Committed Loan Notice or fails to give a
timely notice requesting a conversion or continuation, then the applicable Term Loans or Revolving Credit Loans shall be made as, or converted to, Base Rate Loans (or, in the case of Revolving Credit Loans denominated in an Alternative Currency,
Eurocurrency Rate Loans with an Interest Period of one month). Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurocurrency Rate Loans. If
the Borrower requests a Borrowing of, conversion to, or continuation of Eurocurrency Rate Loans in any such Committed Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. 

(b)    Following receipt of a Committed Loan Notice, the Administrative Agent shall promptly notify each Lender of the
amount of its Pro Rata Share of the applicable Class of Loans, and if no timely notice of a conversion or continuation is provided by the Borrower, the Administrative Agent shall notify each Lender of the details of any automatic conversion to
Base Rate Loans or continuation described in Section 2.02(a). In the case of each Borrowing, each Appropriate Lender shall make the amount of its Loan available to the Administrative Agent in Same Day Funds at the
Administrative Agent’s Office (i) not later than the later of (A) 1:00 p.m. New York City time and (B) two hours after the Administrative Agent’s receipt of the notice described in Section 2.02(a)(ii),
in the case of any Base Rate Loan; (ii) not later than 1:00 p.m. 

  
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New York City time in the case of any Loan (other than a Base Rate Loan) denominated in Dollars and (iii) not later than 10:00 a.m. New York City time in the case of any Loan denominated in
an Alternative Currency, in each case on the Business Day specified in the applicable Committed Loan Notice. Upon satisfaction of the applicable conditions set forth in Section 4.03 (and, if such Borrowing is the initial
Credit Extension, Section 4.01), the Administrative Agent shall make all funds so received available to the Borrower in like funds as received by the Administrative Agent either by wire transfer of such funds, in each case
in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrower; provided, that if, on the date the Committed Loan Notice with respect to such Revolving Credit Borrowing denominated in
Dollars is given by the Borrower, there are L/C Borrowings outstanding, then the proceeds of such Borrowing shall be applied, first, to the payment in full of any such L/C Borrowing, and second, to the Borrower as provided above. 

(c)    Except as otherwise provided herein, if a Eurocurrency Rate Loan is continued or converted on any day other than
the last day of the Interest Period for such Eurocurrency Rate Loan, the Borrower shall pay the amount due, if any, under Section 3.05 in connection therewith. During the existence of an Event of Default, the Administrative
Agent or the Required Lenders may require that no Loans (other than Revolving Credit Loans denominated in an Alternative Currency) may be converted to or continued as Eurocurrency Rate Loans. 

(d)    The Administrative Agent shall promptly notify the Borrower and the Lenders of the interest rate applicable to any
Interest Period for Eurocurrency Rate Loans upon determination of such interest rate. The determination of the Eurocurrency Rate by the Administrative Agent shall be conclusive in the absence of demonstrable error. At any time that Base Rate Loans
are outstanding, the Administrative Agent shall notify the Borrower and the Lenders of any change in the base rate used in determining the Base Rate promptly following the public announcement of such change. 

(e)    After giving effect to all Term Borrowings, all Revolving Credit Borrowings, all conversions of Term Loans or
Revolving Credit Loans from one Type to the other, and all continuations of Term Loans or Revolving Credit Loans as the same Type, there shall not be more than (i) six Interest Periods in effect for any Class of Term Loans and (ii) 12
Interest Periods in effect for any Class of Revolving Credit Loans. 
 (f)    The failure of any Lender to make
any Loan to be made by it as part of any Borrowing shall not relieve any other Lender of its obligation, if any, hereunder to make its Loan on the date of such Borrowing, but no Lender shall be responsible for the failure of any other Lender to make
any Loan to be made by such other Lender on the date of any Borrowing. 
 SECTION 2.03.    Letters of Credit.
(a) The Letter of Credit Commitment. (i) Subject to Section 4.03 and all of the other terms and conditions set forth herein, (A) each L/C Issuer agrees, in reliance upon the agreements of the other
Revolving Credit Lenders set forth in this Section 2.03, (1) from time to time on any Business Day during the period from the Distribution Date to the date that is 30 days prior to the Letter of Credit Expiration Date,
to issue Letters of Credit denominated in Dollars or an Alternative Currency for the account of the Borrower (provided, that any Letter of Credit may be for the benefit of any Subsidiary of the

  
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Borrower) and to amend or renew Letters of Credit previously issued by it, in accordance with Section 2.03(b), and (2) to honor drafts under the Letters of Credit
and (B) the Revolving Credit Lenders severally agree to participate in Letters of Credit issued pursuant to this Section 2.03; provided, that no L/C Issuer shall be obligated to make any L/C Credit Extension
with respect to any Letter of Credit, and no Lender shall be obligated to participate in any Letter of Credit, if as of the date of such L/C Credit Extension, (x) the Revolving Credit Exposure of any Revolving Credit Lender would exceed such
Lender’s Revolving Credit Commitment, (y) the Outstanding Amount of the L/C Obligations would exceed the Letter of Credit Sublimit or (z) the Alternative Currency Exposures (excluding those in respect of Letters of Credit denominated
in a Permitted Additional L/C Currency) would exceed the Alternative Currency Sublimit. Letters of Credit denominated in a Permitted Additional L/C Currency shall be subject to the provisions set forth in Section 2.03(p). Within the foregoing
limits, and subject to the terms and conditions hereof, the Borrower’s ability to obtain Letters of Credit shall be fully revolving, and accordingly the Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters of
Credit that have expired or that have been drawn upon and reimbursed. 
 (ii)    An L/C Issuer shall be under no
obligation to issue any Letter of Credit if: 
 (A)    any order, judgment or decree of any Governmental
Authority or arbitrator shall by its terms purport to enjoin or restrain such L/C Issuer from issuing such Letter of Credit, or any Law applicable to such L/C Issuer or any request or directive (whether or not having the force of law) from any
Governmental Authority with jurisdiction over such L/C Issuer shall prohibit, or request that such L/C Issuer refrain from, the issuance of letters of credit generally or the Letter of Credit in particular or shall impose upon such L/C Issuer with
respect to the Letter of Credit any restriction, reserve or capital requirement (for which such L/C Issuer is not otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon such L/C Issuer any unreimbursed loss, cost or
expense which was not applicable on the Closing Date and which such L/C Issuer in good faith deems material to it; 

(B)    subject to Section 2.03(b)(iii), the expiry date of such requested Letter
of Credit would occur more than 12 months after the date of issuance or last extension, unless (1) each Appropriate Lender has approved of such expiration date or (2) the Outstanding Amount of L/C Obligations in respect of such
requested Letter of Credit has been Cash Collateralized or back-stopped by a letter of credit reasonably satisfactory to the applicable L/C Issuer; 

(C)    the expiry date of such requested Letter of Credit would occur after the Letter of Credit
Expiration Date, unless (1) each Appropriate Lender has approved of such expiration date or (2) the Outstanding Amount of L/C Obligations in respect of such requested Letter of Credit has been Cash Collateralized or back-stopped by a
letter of credit reasonably satisfactory to the applicable L/C Issuer; 
 (D)    the issuance of such
Letter of Credit would violate any Laws binding upon such L/C Issuer; 

  
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 (E)    the issuance of the Letter of Credit would violate
one or more policies of such L/C Issuer applicable to letters of credit generally; 
 (F)    the Letter
of Credit is to be denominated in a currency other than Dollars or an Alternative Currency; 

(G)    any Revolving Credit Lender is at that time a Defaulting Lender, unless such L/C Issuer has entered
into arrangements, including the delivery of Cash Collateral, satisfactory to such L/C Issuer (in its sole discretion) with the Borrower or such Lender to eliminate such L/C Issuer’s actual or potential Fronting Exposure (after giving effect to
Section 2.16(a)) with respect to the Defaulting Lender arising from either the Letter of Credit then proposed to be issued or that Letter of Credit and all other L/C Obligations as to which such L/C Issuer has actual or
potential Fronting Exposure, as it may elect in its sole discretion; 
 (H)    after giving effect to
such issuance, the Dollar Equivalent of the aggregate face amount of Letters of Credit issued by such L/C Issuer would exceed such L/C Issuer’s L/C Commitment. 

(iii)    An L/C Issuer shall be under no obligation to amend any Letter of Credit if (A) such L/C Issuer would have
no obligation at such time to issue such Letter of Credit in its amended form under the terms hereof, or (B) the beneficiary of such Letter of Credit does not accept the proposed amendment to such Letter of Credit. 

(iv)    Each L/C Issuer shall act on behalf of the Revolving Credit Lenders with respect to any Letters of Credit issued
by it and the documents associated therewith, and such L/C Issuer shall have all of the benefits and immunities (A) provided to the Administrative Agent in Article IX with respect to any acts taken or omissions
suffered by such L/C Issuer in connection with Letters of Credit issued by it or proposed to be issued by it and Issuer Documents pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used in
Article IX included such L/C Issuer with respect to such acts or omissions, and (B) as additionally provided herein with respect to such L/C Issuer. 

(b)    Procedures for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of Credit.
(i) Subject to Section 4.03, each Letter of Credit shall be issued or amended, as the case may be, upon the request of the Borrower delivered to an L/C Issuer during the period specified in
Section 2.03(a) (with a copy to the Administrative Agent) in the form of a Letter of Credit Application, appropriately completed and signed by a Responsible Officer of the Borrower. Unless otherwise agreed by the Borrower
and the relevant L/C Issuer, such Letter of Credit Application must be received by the relevant L/C Issuer and the Administrative Agent not later than noon at least one Business Day prior to the proposed issuance date or date of amendment, as the
case may be; or, in each case, such later date and time as the relevant L/C Issuer may agree in a particular instance in its sole discretion; provided that in the case of a request of a Letter of Credit denominated in a Permitted Additional
L/C Currency, such Letter of Credit Application must be received by the relevant L/C Issuer and the Administrative Agent not later than 2:00 p.m. at least three Business Days prior to the proposed issuance date or date of

  
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amendment, as the case may be; or, in each case, such later date and time as the relevant L/C Issuer may agree in a particular instance in its sole discretion. In the case of a request for an
initial issuance of a Letter of Credit, such Letter of Credit Application shall specify in form and detail reasonably satisfactory to the relevant L/C Issuer: (a) the proposed issuance date of the requested Letter of Credit (which shall be a
Business Day); (b) the amount and currency thereof; (c) the expiry date thereof; (d) the name and address of the beneficiary thereof; and (e) such other matters as the relevant L/C Issuer may reasonably request (which may include the
form of the requested Letter of Credit). In the case of a request for an amendment of any outstanding Letter of Credit, such Letter of Credit Application shall specify in form and detail reasonably satisfactory to the relevant L/C Issuer
(1) the Letter of Credit to be amended; (2) the proposed date of amendment thereof (which shall be a Business Day); (3) the nature of the proposed amendment; and (4) such other matters as the relevant L/C Issuer may reasonably
request. Additionally, the Borrower shall furnish to each L/C Issuer and the Administrative Agent such other documents and information pertaining to such requested Letter of Credit issuance or amendment, including any Issuer Documents, as such L/C
Issuer or the Administrative Agent may reasonably require. 
 (ii)    Promptly after receipt of any Letter of Credit
Application, the relevant L/C Issuer will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has received a copy of such Letter of Credit Application from the Borrower and, if not, such L/C Issuer will
provide the Administrative Agent with a copy thereof. Unless the relevant L/C Issuer has received written notice from any Revolving Credit Lender, the Administrative Agent or any Loan Party, at least one Business Day prior to the requested date of
issuance or amendment of the applicable Letter of Credit, that one or more applicable conditions contained in Article IV shall not then be satisfied, then, subject to the terms and conditions hereof, the relevant L/C Issuer
shall, on the requested date, issue a Letter of Credit for the account of the Borrower or enter into the applicable amendment, as the case may be, in each case in accordance with the relevant L/C Issuer’s usual and customary business practices.
Immediately upon the issuance of each Letter of Credit, each Revolving Credit Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to (regardless of whether the conditions set forth in Section 4.03
have been satisfied), purchase from the relevant L/C Issuer without recourse or warranty a risk participation in such Letter of Credit in an amount equal to the product of such Lender’s Pro Rata Share times the amount of such Letter of
Credit. 
 (iii)    If the Borrower so requests in any applicable Letter of Credit Application, the relevant L/C Issuer
may, in its discretion, agree to issue a Letter of Credit that has automatic extension provisions (each, an “Auto-Extension Letter of Credit”); provided, that any such Auto-Extension Letter of Credit must permit the relevant
L/C Issuer to prevent any such extension at least once in each 12 month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day (the “Non-Extension Notice Date”) in each such 12 month period to be agreed upon at the time such Letter of Credit is issued. Once an Auto-Extension Letter of Credit has been issued, unless otherwise
directed by the relevant L/C Issuer, the Borrower shall not be required to make a specific request to the relevant L/C Issuer for any such extension. Once an Auto-Extension Letter of Credit has been issued, the Revolving Credit Lenders shall be
deemed to have authorized (but may not require) the relevant L/C Issuer to permit the extension of such Letter of Credit at any time to an expiry date not later than the Letter of Credit Expiration Date; provided, that the relevant L/C

  
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Issuer shall not permit any such extension if (A) the relevant L/C Issuer has determined that it would have no obligation at such time to issue such Letter of Credit in its extended form
under the terms hereof (by reason of the provisions of Section 2.03(a)(ii) or otherwise), or (B) it has received notice (which may be by telephone or in writing) on or before the day that is five Business Days before
the Non-Extension Notice Date from the Administrative Agent, any Revolving Credit Lender or the Borrower that one or more of the applicable conditions specified in Section 4.03 is not
then satisfied. 
 (iv)    Promptly after its delivery of any Letter of Credit or any amendment to a Letter of Credit
to an advising bank with respect thereto or to the beneficiary thereof, the relevant L/C Issuer will also deliver to the Borrower and the Administrative Agent a true and complete copy of such Letter of Credit or amendment. 

(c)    Drawings and Reimbursements; Funding of Participations. (i) Upon receipt from the beneficiary of any
Letter of Credit of any compliant notice of a drawing under such Letter of Credit and subsequent payment by an L/C Issuer, the relevant L/C Issuer shall notify promptly the Borrower and the Administrative Agent thereof. Not later than 2:00 p.m. on
the Business Day immediately following the later of the date of payment by an L/C Issuer under a Letter of Credit and the date of notice by an L/C Issuer to the Borrower of such payment (each such date, an “Honor Date”), the
Borrower shall reimburse such L/C Issuer through the Administrative Agent (or directly to such L/C Issuer with a written notice to the Administrative Agent) in an amount equal to the amount of such drawing (x) with respect to any Letter of
Credit issued in Dollars, in Dollars or (y) with respect to any Letter of Credit issued in an Alternative Currency, in such Alternative Currency (or if requested by the applicable L/C Issuer at least two Business Days prior to the Honor Date,
the Dollar Equivalent thereof in Dollars). If the Borrower fails to so reimburse such L/C Issuer by such time, the L/C Issuer shall notify the Administrative Agent and the Administrative Agent shall promptly notify each Revolving Credit Lender of
the Honor Date, the amount of the unreimbursed drawing (the “Unreimbursed Amount”), and the amount of such Revolving Credit Lender’s Pro Rata Share thereof. In such event, the Borrower shall be deemed to have requested a
Revolving Credit Borrowing of Base Rate Loans (or, in the case of an Unreimbursed Amount denominated in an Alternative Currency that is required to be reimbursed in such Alternative Currency, Eurocurrency Loans in such Alternative Currency with an
Interest Period of one month) to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in Section 2.02 for the principal amount of Base Rate
Loans but subject to the amount of the unutilized portion of the Revolving Credit Commitments of the Revolving Credit Lenders and the conditions set forth in Section 4.03 (other than the delivery of a Committed Loan
Notice). Any notice given by an L/C Issuer or the Administrative Agent pursuant to this Section 2.03(c)(i) may be given by telephone if promptly confirmed in writing; provided, that the lack of such a prompt
confirmation shall not affect the conclusiveness or binding effect of such notice. 
 (ii)    Each Revolving Credit
Lender shall upon any notice pursuant to Section 2.03(c)(i) make funds available (x) with respect to any Unreimbursed Amount denominated in Dollars, in Dollars or (y) with respect to any Unreimbursed Amount
denominated in an Alternative Currency, in such Alternative Currency (or if requested by the applicable L/C Issuer, the Dollar Equivalent thereof in Dollars) for the account of the relevant 

  
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L/C Issuer at the Administrative Agent’s Office for payments in an amount equal to its Pro Rata Share of the Unreimbursed Amount not later than 4:00 p.m. on the Business Day specified in
such notice by the Administrative Agent, whereupon, subject to the provisions of Section 2.03(c)(iii), each Revolving Credit Lender that so makes funds available shall be deemed to have made a Base Rate Loan (or, in the
case of an Alternative Currency, a Eurocurrency Loan with an Interest Period of one month) to the Borrower in such amount. The Administrative Agent shall remit the funds so received to the relevant L/C Issuer. 

(iii)    With respect to any Unreimbursed Amount that is not fully refinanced by a Revolving Credit Borrowing because the
conditions set forth in Section 4.03 cannot be satisfied or for any other reason, the Borrower shall be deemed to have incurred from the relevant L/C Issuer an L/C Borrowing in the amount of the Unreimbursed Amount that is
not so refinanced, which L/C Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the Default Rate. In such event, each Revolving Credit Lender’s payment to the Administrative Agent for the account of
the relevant L/C Issuer pursuant to Section 2.03(c)(ii) shall be deemed payment in respect of its participation in such L/C Borrowing and shall constitute an L/C Advance from such Lender in satisfaction of its participation
obligation under this Section 2.03. 
 (iv)    Until a Revolving Credit Lender funds its
Revolving Credit Loan or L/C Advance pursuant to this Section 2.03(c) to reimburse the relevant L/C Issuer for any amount drawn under any Letter of Credit, interest in respect of such Lender’s Pro Rata Share of such
amount shall be solely for the account of the relevant L/C Issuer. 
 (v)    Each Revolving Credit Lender’s
obligation to make Revolving Credit Loans or L/C Advances to reimburse an L/C Issuer for amounts drawn under Letters of Credit, as contemplated by this Section 2.03(c), shall be absolute and unconditional and shall not be
affected by any circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right which such Lender may have against the relevant L/C Issuer, the Borrower or any other Person for any reason whatsoever; (B) the
occurrence or continuance of a Default; (C) the form, validity, sufficiency, accuracy, genuineness or legal effect of any Letter of Credit or any document submitted by any party in connection with the application for and issuance of a Letter of
Credit, even if it should in fact prove to be in any or all respects invalid, insufficient, inaccurate, fraudulent or forged; (D) failure of the beneficiary to comply fully with conditions required in order to demand payment under a Letter of
Credit; or (E) any other occurrence, event or condition, whether or not similar to any of the foregoing, including without limitation, any of the events specified in Section 2.03(e); provided, that each
Revolving Credit Lender’s obligation to make Revolving Credit Loans pursuant to this Section 2.03(c) is subject to the conditions set forth in Section 4.03 (other than delivery by the Borrower
of a Committed Loan Notice). No such making of an L/C Advance shall relieve or otherwise impair the obligation of the Borrower to reimburse the relevant L/C Issuer for the amount of any payment made by such L/C Issuer under any Letter of Credit,
together with interest as provided herein. 
 (vi)    If any Revolving Credit Lender fails to make available to the
Administrative Agent for the account of the relevant L/C Issuer any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.03(c) by the time specified in
Section 2.03(c)(ii), then, without limiting the other provisions of this agreement, such L/C 

  
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Issuer shall be entitled to recover from such Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required
to the date on which such payment is immediately available to such L/C Issuer at a rate per annum equal to the greater of the Federal Funds Rate and a rate determined by the applicable L/C Issuer in accordance with banking industry rules on
interbank compensation, plus any administrative, processing or similar fees customarily charged by such L/C Issuer in connection with the foregoing. If such Lender pays such amount (with interest and fees as aforesaid), the amount so paid
(other than such interest and fees) shall constitute such Lender’s Loan included in the relevant Borrowing or L/C Advance in respect of the relevant L/C Borrowing, as the case may be. A certificate of the relevant L/C Issuer submitted to any
Revolving Credit Lender (through the Administrative Agent) with respect to any amounts owing under this Section 2.03(c)(vi) shall be conclusive absent demonstrable error. 

(d)    Repayment of Participations. (i) If, at any time after an L/C Issuer has made a payment under any
Letter of Credit and has received from any Revolving Credit Lender such Lender’s L/C Advance in respect of such payment in accordance with Section 2.03(c), the Administrative Agent receives for the account of such L/C
Issuer any payment in respect of the related Unreimbursed Amount or interest thereon (whether directly from the Borrower or otherwise, including proceeds of Cash Collateral applied thereto by the Administrative Agent), the Administrative Agent will
distribute to such Lender its Pro Rata Share thereof (appropriately adjusted, in the case of interest payments, to reflect the period of time during which such Lender’s L/C Advance was outstanding) in the same funds as those received by the
Administrative Agent. 
 (ii)    If any payment received by the Administrative Agent for the account of an L/C Issuer
pursuant to Section 2.03(c)(i) is required to be returned under any of the circumstances described in Section 10.05 (including pursuant to any settlement entered into by such L/C Issuer in its
discretion), each Revolving Credit Lender shall pay to the Administrative Agent for the account of such L/C Issuer its Pro Rata Share thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the
date such amount is returned by such Lender, at a rate per annum equal to the applicable Federal Funds Rate from time to time in effect. The obligations of the Lenders under this clause (ii) shall survive the payment
in full of the Obligations and the termination of this Agreement. 
 (e)    Obligations Absolute. The obligation
of the Borrower to reimburse the relevant L/C Issuer for each drawing under each Letter of Credit issued by it and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms
of this Agreement under all circumstances, including the following: 
 (i)    any lack of validity or enforceability of
such Letter of Credit, this Agreement, or any other agreement or instrument relating thereto; 
 (ii)    the existence
of any claim, counterclaim, setoff, defense or other right that any Loan Party may have at any time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may be
acting), the relevant L/C Issuer or any other Person, whether in connection with this Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction; 

  
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 (iii)    any draft, demand, certificate or other document presented under
such Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; 

(iv)    any payment by the relevant L/C Issuer under such Letter of Credit against presentation of a draft or certificate
that does not strictly comply with the terms of such Letter of Credit; or any payment made by the relevant L/C Issuer under such Letter of Credit to any Person purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver or other representative of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising
in connection with any proceeding under any Debtor Relief Law; 
 (v)    any amendment or waiver of or any consent to
departure from all or any of the provisions of the Loan Documents; 
 (vi)    any adverse change in the business,
assets, operations or financial condition of the Borrower or any of its Subsidiaries; or 
 (vii)    any other
circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other circumstance that might otherwise constitute a defense available to, or a discharge of, any Loan Party. 

The Borrower shall promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to it by an L/C Issuer prior to the issuance
of such Letter of Credit or amendment thereto and, in the event of any claim of noncompliance with the Borrower’s instructions or other irregularity, the Borrower will promptly notify the applicable L/C Issuer. The Borrower shall be
conclusively deemed to have waived any such claim against such L/C Issuer and its correspondents unless such notice is given as aforesaid prior to the issuance of such Letter of Credit or amendment thereto. 

(f)    Role of L/C Issuers. Each Lender and the Borrower agree that, in paying any drawing under a Letter of
Credit, the relevant L/C Issuer shall not have any responsibility to obtain any document (other than all documents expressly required by the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the
authority of the Person executing or delivering any such document. None of the L/C Issuers, any Related Parties nor any of the respective correspondents, participants or assignees of any L/C Issuer shall be liable to any Lender for (i) any
action taken or omitted in connection herewith at the request or with the approval of the Lenders holding a majority of the Revolving Credit Commitments; (ii) any action taken or omitted in the absence of bad faith, gross negligence or willful
misconduct; or (iii) the due execution, effectiveness, validity or enforceability of any document or instrument related to any Letter of Credit or Letter of Credit Application. The Borrower hereby assumes all risks of the acts or omissions of
any beneficiary or transferee with respect to its use of any Letter of Credit; provided, that this assumption is not intended to, and shall not, preclude the Borrower’s pursuing such rights and remedies as it may have against the
beneficiary or 

  
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transferee at law or under any other agreement. None of the L/C Issuers, any Related Parties, nor any of the respective correspondents, participants or assignees of any L/C Issuer, shall be
liable or responsible for any of the matters described in clauses (i) through (v) of Section 2.03(e); provided, that anything herein to the contrary notwithstanding, the Borrower shall have a claim
against an L/C Issuer, and such L/C Issuer shall be liable to the Borrower, to the extent, but only to the extent, of any direct, as opposed to consequential or exemplary, damages suffered by the Borrower which were caused by such L/C Issuer’s
bad faith, willful misconduct or gross negligence or such L/C Issuer’s willful or grossly negligent failure to pay under any Letter of Credit after the presentation to it by the beneficiary of all documents specified in the Letter of Credit
strictly complying with the terms and conditions of a Letter of Credit, in each case, as determined in a final judgment by a court of competent jurisdiction. In furtherance and not in limitation of the foregoing, each L/C Issuer may accept documents
that appear on their face to be in order, without responsibility for further investigation, and no L/C Issuer shall be responsible for the validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign a
Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason. Notwithstanding anything to the contrary contained in this
Section 2.03(f), the Borrower shall retain any and all rights it may have against any L/C Issuer for any liability arising out of the bad faith, gross negligence or willful misconduct of such L/C Issuer, as determined by a
final judgment of a court of competent jurisdiction. 
 (g)    Cash Collateral. (i) If an L/C Issuer has
honored any full or partial drawing request under any Letter of Credit and such drawing has resulted in an L/C Borrowing that has not been repaid and the conditions set forth in Section 4.03 to a Revolving Credit Borrowing
cannot then be met, (ii) if, as of the Letter of Credit Expiration Date, any Letter of Credit for any reason remains outstanding and partially or wholly undrawn (and arrangements that are reasonably satisfactory to the applicable L/C Issuer
have not otherwise been made), (iii) if any Event of Default occurs and is continuing and the Administrative Agent or the Lenders holding a majority of the Revolving Credit Commitments, as applicable, require the Borrower to Cash Collateralize, on a
joint and several basis, the L/C Obligations pursuant to Section 8.02, (iv) if, after the issuance of any Letter of Credit, any Revolving Credit Lender becomes a Defaulting Lender or (v) if an Event of Default set
forth under Section 8.01(f) occurs and is continuing, then the Borrower shall Cash Collateralize the then Outstanding Amount of (A) the applicable L/C Borrowing, in the case of the preceding clause (i), (B) all
L/C Obligations, in the case of the preceding clauses (ii), (iii) and (v), or (C) such L/C Issuer’s Fronting Exposure with respect to such Defaulting Lender that has not been
re-allocated to Non-Defaulting Lenders in accordance with Section 2.16(a) in the case of the preceding clause (iv), and shall do so not
later than 4:00 p.m., on (x) in the case of the immediately preceding clauses (i) through (iv), (1) the Business Day that the Borrower receives notice thereof, if such notice is received on such day prior to 12:00 Noon, or
(2) if clause (1) above does not apply, the Business Day immediately following the day that the Borrower receives such notice and (y) in the case of the immediately preceding clause (v), the Business Day on which an
Event of Default set forth under Section 8.01(f) occurs or, if such day is not a Business Day, the Business Day immediately succeeding such day. For purposes hereof, “Cash Collateralize” means to pledge and
deposit with or deliver to the Administrative Agent, for the benefit of the relevant L/C Issuer and the Revolving Credit Lenders, as collateral for the L/C Obligations, cash or deposit account balances (“Cash Collateral”) pursuant
to documentation in form and substance reasonably satisfactory to 

  
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the Administrative Agent and the relevant L/C Issuer (which documents are hereby consented to by the Lenders); provided that, if the Borrower requests to Cash Collateralize any or all L/C
Obligations, the Borrower, the Administrative Agent and the relevant L/C Issuer or L/C Issuers shall cooperate in good faith to prepare, execute and deliver such documentation as promptly as practicable. Derivatives of such term have corresponding
meanings. The Borrower hereby grants to the Administrative Agent, for the benefit of the L/C Issuers and the Revolving Credit Lenders, a security interest in all such cash, deposit accounts and all balances therein and all proceeds of the foregoing.
Cash Collateral shall be maintained in blocked accounts at the Administrative Agent and may be invested in readily available Cash Equivalents. If at any time the Administrative Agent determines that any funds held as Cash Collateral are subject to
any right or claim of any Person other than the Administrative Agent (on behalf of the Secured Parties) or that the total amount of such funds is less than the aggregate Outstanding Amount of all L/C Obligations then required to be Cash
Collateralized, the Borrower will, forthwith upon demand by the Administrative Agent, pay to the Administrative Agent, as additional funds to be deposited and held in the deposit accounts at the Administrative Agent as aforesaid, an amount equal to
the excess of (a) such aggregate Outstanding Amount over (b) the total amount of funds, if any, then held as Cash Collateral that the Administrative Agent reasonably determines to be free and clear of any such right and claim. Upon the
drawing of any Letter of Credit for which funds are on deposit as Cash Collateral, such funds shall be applied, to the extent permitted under applicable Law, to reimburse the relevant L/C Issuer. To the extent the amount of any Cash Collateral
exceeds the then Outstanding Amount of such L/C Obligations then required to be Cash Collateralized and so long as no Event of Default has occurred and is continuing, the excess shall be refunded to the Borrower. 

(h)    Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of each Revolving
Credit Lender in accordance with its Pro Rata Share a Letter of Credit fee for each Letter of Credit outstanding pursuant to this Agreement, which shall accrue at a rate per annum equal to the Applicable Rate on the Dollar Equivalent of the
daily maximum amount available to be drawn under such Letter of Credit. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with
Section 1.09. Such letter of credit fees shall be due and payable in arrears in Dollars on the date that is three Business Days after the last day of each March, June, September and December, commencing with the first such
date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. If there is any change in the Applicable Rate during any quarter, such fee shall be computed separately for each period
during such quarter that such Applicable Rate was in effect. 
 (i)    Fronting Fee and Documentary and Processing
Charges Payable to L/C Issuers. The Borrower shall pay directly to each L/C Issuer for its own account a fronting fee with respect to each Letter of Credit issued by it, which shall accrue at a rate per annum equal to 0.125% on the Dollar
Equivalent of the daily maximum amount available to be drawn under such Letter of Credit. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in
accordance with Section 1.09. Such fronting fees shall be due and payable in arrears on the date that is three Business Days after the last day of each March, June, September and December, commencing with the first such
date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. In addition, the Borrower shall pay directly to each 

  
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L/C Issuer for its own account with respect to each Letter of Credit issued by it the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges,
of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable within 10 Business Days of demand and are nonrefundable. 

(j)    Conflict with Issuer Documents. Notwithstanding anything else to the contrary in this Agreement, in the
event of any conflict between the terms hereof and the terms of any Issuer Document, the terms hereof shall control. 

(k)    Addition of an L/C Issuer. A Revolving Credit Lender (or an Affiliate of a Revolving Credit Lender) may
become an additional L/C Issuer hereunder pursuant to a written agreement among the Borrower, the Administrative Agent and such Revolving Credit Lender (or Affiliate) and such agreement shall specify such additional L/C Issuer’s L/C Commitment.
The Administrative Agent shall notify the Revolving Credit Lenders of any such additional L/C Issuer. 

(l)    Applicability of ISP; Limitation of Liability. Unless otherwise expressly agreed by the applicable
L/C Issuer and the Borrower when a Letter of Credit is issued, the rules of the ISP and, as to all matters not covered thereby, the laws of the State of New York shall apply to each standby Letter of Credit. Notwithstanding the foregoing, but
subject to Section 2.03(f), the applicable L/C Issuer shall not be responsible to the Borrower (or any other Person) for, and such L/C Issuer’s rights and remedies against the Borrower shall not be impaired by, any action or inaction of
such L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law or any order of a jurisdiction where such L/C Issuer or the beneficiary
is located, the practice stated in the ISP, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association
(BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice. 

(m)    Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding
hereunder is in support of any obligations of, or is stated to be for the account of, a Subsidiary of the Borrower, the Borrower shall be obligated to reimburse the applicable L/C Issuer hereunder for any and all drawings under such Letter of
Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any such Subsidiary inures to the benefit of the Borrower, and that the Borrower’s business derives substantial benefits from the businesses of
such Subsidiaries. 
 (n)    Reporting of Letter of Credit Information. At any time that any Revolving Credit
Lender other than the Person serving as the Administrative Agent is an L/C Issuer, then (i) on the last Business Day of each calendar month, (ii) on each date that a Letter of Credit is amended, terminated or otherwise expires,
(iii) on each date that an L/C Credit Extension occurs with respect to any Letter of Credit, and (iv) upon the request of the Administrative Agent, each L/C Issuer (or, in the case of part (ii), (iii) or (iv), the applicable L/C Issuer)
shall deliver to the Administrative Agent a report setting forth in form and detail reasonably satisfactory to the 

  
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Administrative Agent information (including any reimbursement, Cash Collateral, or termination in respect of Letters of Credit issued by such L/C Issuer) with respect to each Letter of Credit
issued by such L/C Issuer that is outstanding hereunder, including any auto-renewal or termination of auto-renewal provisions in such Letter of Credit. No failure on the part of any L/C Issuer to provide such information pursuant to this
Section 2.03(n) shall limit the obligation of the Borrower or any Revolving Credit Lender hereunder with respect to its reimbursement and participation obligations, respectively, pursuant to this
Section 2.03. 
 (o)    Deemed Issuance. Subject to the terms, conditions and
limitations set forth in this Section 2.03, the Borrower may designate letters of credit not otherwise constituting Letters of Credit hereunder issued by any L/C Issuer to be Letters of Credit hereunder by written notice to
the applicable L/C Issuer and the Administrative Agent. Following such designation, such letter of credit shall be deemed to be a Letter of Credit hereunder for all purposes and any fees relating to such letter of credit shall be payable as set
forth herein (in substitution for any fees set forth in the applicable letter of credit reimbursement agreements or applications relating to such letters of credit). 

(p)    Permitted Additional L/C Currencies. Upon the issuance of any Letter of Credit denominated in a Permitted
Additional L/C Currency (a “Foreign Currency Letter of Credit”), and so long as any Foreign Currency Letter of Credit (or Unreimbursed Amount in respect thereof) remains outstanding, the following provisions shall apply: 

(i)    Subject to paragraph (iii) below, the obligation of the Borrower to reimburse the applicable L/C Issuer for
any Unreimbursed Amount under any Foreign Currency Letter of Credit, and to pay interest thereon, shall be payable only in the currency in which such Unreimbursed Amount is made, and shall not be discharged by paying an amount in any other currency;
provided that the applicable L/C Issuer may agree, in its sole discretion, to accept reimbursement in another currency, but any such agreement shall not affect the obligations of the Revolving Credit Lenders or the Borrower under paragraphs
(ii) and (iii) below if such reimbursement is not actually made to the applicable L/C Issuer when due. 

(ii)    The obligation of each Revolving Credit Lender under Sections 2.03(c) and 2.03(d) to pay its
Applicable Percentage of any unpaid Unreimbursed Amount under any Foreign Currency Letter of Credit shall be payable only in Dollars and shall be in an amount equal to such Applicable Percentage of the Dollar Amount of such unpaid drawing determined
as provided in paragraph (iv) below. Under no circumstances shall the provisions hereof permitting the issuance of Foreign Currency Letters of Credit be construed, by implication or otherwise, as imposing any obligation upon any Revolving
Credit Lender to make any Loan or other payment under the Loan Documents, or to accept any payment from the Borrower in respect of any unreimbursed Unreimbursed Amount, in each case in respect of a Foreign Currency Letter of Credit, in any currency
other than Dollars. 
 (iii)    If and to the extent that any Lender pays its Applicable Percentage of any unreimbursed
Unreimbursed Amount under any Foreign Currency Letter of Credit, then, notwithstanding paragraph (i) above, the obligation of the Borrower to reimburse the portion of such unreimbursed Unreimbursed Amount funded by such Lender shall be
converted to, and shall be payable only in, Dollars (in an amount equal to the amount funded by such Lender in 

  
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Dollars as provided above) and shall not be discharged by paying an amount in any other currency. Interest accrued on such unreimbursed Unreimbursed Amount to and excluding the date of such
payment by such Lender shall be for the account of the applicable L/C Issuer and be payable in the applicable currency in which such Unreimbursed Amount was made, but interest thereafter shall accrue on the amount owed to such Lender and shall be
payable in Dollars. 
 (iv)    If an Unreimbursed Amount is made by an L/C Issuer in respect of a Foreign Currency
Letter of Credit and is not reimbursed by the Borrower as and when required by paragraph (e) of this Section, then such L/C Issuer shall calculate the amount in Dollars (the “Dollar Amount”) that would be required in order for
such L/C Issuer to purchase an amount of the currency in which such Unreimbursed Amount was made equivalent to such unpaid Unreimbursed Amount, employing any method of exchange that such L/C Issuer would expect to employ in the conduct of its
currency exchange activities. Such L/C Issuer shall notify the Administrative Agent and the Borrower of the Dollar Amount so determined by it, and such determination shall be conclusive. 

SECTION 2.04.    Prepayments. (a) Optional. (i) The Borrower may, upon notice to the Administrative
Agent, at any time or from time to time elect to voluntarily prepay Term Loans or Revolving Credit Loans in whole or in part without premium or penalty (except as provided in clause (ii) below); provided, that
(1) such notice must be received by the Administrative Agent not later than 2:00 p.m. (A) three Business Days prior to any date of prepayment of Eurocurrency Rate Loans and (B) on the date of prepayment of Base Rate Loans;
(2) any partial prepayment of (A) Eurocurrency Rate Loans denominated in Dollars shall be in a principal amount of $5 million, or a whole multiple of $100,000, in excess thereof, (B) Eurocurrency Rate Loans denominated in Euros
shall be in a principal amount of €5 million, or a whole multiple of €100,000, in excess thereof, and (C) Eurocurrency Rate Loans denominated in Sterling shall be in a principal amount of £2 million, or a whole
multiple of £100,000, in excess thereof; and (3) any partial prepayment of Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. Each such notice shall specify the date and amount of
such prepayment and the Class (or Classes) and Type (or Types) of Loans and the order of Borrowing (or Borrowings) to be prepaid. The Administrative Agent will promptly notify each Appropriate Lender of its receipt of each such notice, and of the
amount of such Lender’s Pro Rata Share of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein;
provided, that the Borrower may rescind any notice of prepayment under this Section 2.04(a)(i) if such prepayment would have resulted from a refinancing or other repayment of all of the Facility or other transaction,
which refinancing or transaction shall not be consummated or shall otherwise be delayed. Any prepayment of a Eurocurrency Rate Loan shall be accompanied by all accrued interest thereon, together with any additional amounts then due pursuant to
Section 3.05. In the case of each prepayment of the Loans pursuant to this Section 2.04(a)(i), the Borrower may in its sole discretion select the Borrowing or Borrowings to be repaid, and such
payment shall be paid to the Appropriate Lenders in accordance with their respective Pro Rata Shares. 
 (ii)    In the
event that, after the First Amendment Effective Date and on or prior to the date that is 6 months following the First Amendment Effective Date, the Borrower (A) makes any prepayment of Term Loans in connection with any Repricing Transaction, or
(B) 

  
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effects any amendment of this Agreement resulting in a Repricing Transaction, the Borrower shall pay to the Administrative Agent, for the ratable account of each Term Lender, (I) in the case
of clause (A), a prepayment premium of 1.00% of the principal amount of the Term Loans being prepaid and (II) in the case of clause (B), a payment equal to 1.00% of the aggregate principal amount of the Term
Loans outstanding immediately prior to such amendment that have been repriced (in each case, the “Prepayment Premium”). For the avoidance of doubt, no Prepayment Premium shall apply to the First Amendment Effective Date Prepayment
made on the First Amendment Effective Date. 
 (b)    Mandatory. (i) If the Borrower or any Restricted
Subsidiary Disposes of any property or assets in reliance upon clause (x) of Section 7.04, or any Casualty Event occurs, that, in either case, results in the realization or receipt by the Borrower
or such Restricted Subsidiary of Net Proceeds in excess of $25 million, then, subject to clause (v) below, the Borrower shall cause to be prepaid on or prior to the date which is 10 Business Days after the date of the
realization or receipt by the Borrower or Restricted Subsidiary of such Net Proceeds an aggregate amount of Term Loans in an amount equal to 100% of all Net Proceeds received; provided, that if at the time that any such prepayment would be
required, the Borrower (or any Restricted Subsidiary) is required to prepay or to offer to prepay or repurchase any other Indebtedness then outstanding that is secured on a pari passu basis with the Obligations pursuant to the terms of the
documentation governing such Indebtedness with the net proceeds of such Disposition or Casualty Event (such Indebtedness required to be prepaid, offered to be so prepaid or repurchased, “Other Applicable Indebtedness”), then the
Borrower (or any Restricted Subsidiary) may apply such Net Proceeds on a pro rata basis (determined on the basis of the aggregate outstanding principal amount of the Term Loans and Other Applicable Indebtedness at such time; provided,
that the portion of such Net Proceeds allocated to the Other Applicable Indebtedness shall not exceed the amount of such Net Proceeds required to be allocated to the Other Applicable Indebtedness pursuant to the terms thereof, and the remaining
amount, if any, of such Net Proceeds shall be allocated to the Term Loans in accordance with the terms hereof) to the prepayment of the Term Loans and to the repurchase or prepayment of Other Applicable Indebtedness, and the amount of prepayment of
the Term Loans that would have otherwise been required pursuant to this Section 2.04(b)(i) shall be reduced accordingly; provided further, that to the extent the holders of Other Applicable Indebtedness decline to have such
Indebtedness repurchased or prepaid (after giving effect to any requirement that the declined amounts be offered to other holders of such Other Applicable Indebtedness), the declined amount shall promptly (and in any event within 10 Business Days
after the date of such rejection) be applied to prepay the Term Loans in accordance with the terms hereof; provided further, that no prepayment shall be required pursuant to this Section 2.04(b)(i) with respect to such
portion of such Net Proceeds that the Borrower or the relevant Restricted Subsidiary shall have reinvested or entered into a binding commitment to reinvest or otherwise determined or may determine to reinvest (as set forth in a notice from the
Borrower to the Administrative Agent to be delivered on or prior to the date which is 10 Business Days after the date of receipt of the applicable Net Proceeds), in each case in accordance with the definition of “Net Proceeds” and
within the timeframe contemplated thereby. 
 (ii)    If the Borrower or any Restricted Subsidiary incurs or issues any
Indebtedness after the Closing Date (other than Indebtedness permitted to be incurred under Section 7.02), including Credit Agreement Refinancing Indebtedness, the Borrower shall cause

  
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to be prepaid an aggregate principal amount of Term Loans equal to 100% of all Net Proceeds received therefrom on or prior to the date which is five Business Days after the receipt by the
Borrower or such Restricted Subsidiary of such Net Proceeds. 
 (iii)    (A) If for any reason (other than by reason of
a change in the Dollar Equivalent of any Revolving Credit Borrowing or Letter of Credit on any Revaluation Date) the aggregate Revolving Credit Exposures at any time exceed the aggregate Revolving Credit Commitments then in effect, the Borrower
shall promptly prepay or cause to be promptly prepaid Revolving Credit Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess. 

(B)    If, by reason of a change in the Dollar Equivalent of any Revolving Credit Borrowing or Letter of
Credit on any Revaluation Date, the aggregate Revolving Credit Exposures exceed 105% of the aggregate Revolving Credit Commitments then in effect, the Borrower shall promptly prepay or cause to be promptly prepaid Revolving Credit Loans and/or Cash
Collateralize the L/C Obligations in an aggregate amount equal to such excess. 
 (iv)    Each prepayment of Term Loans
pursuant to this Section 2.04(b) shall be paid to the Lenders in accordance with their respective Pro Rata Shares (provided, that any prepayment of Term Loans with the Net Proceeds of Credit Agreement Refinancing
Indebtedness shall be applied solely to each applicable Class (or Classes) of Refinanced Debt), subject to clause (v) of this Section 2.04(b). 

(v)    The Borrower shall notify the Administrative Agent in writing of any mandatory prepayment of Loans (and/or Cash
Collateralization of L/C Obligations) required to be made pursuant to clauses (i) through (iii) of this Section 2.04(b) promptly, and in no event more than three Business Days,
following the event giving rise to such mandatory prepayment. Each such notice shall specify the date of such prepayment and provide a reasonably detailed calculation of the amount of such prepayment. The Administrative Agent will promptly notify
each Appropriate Lender of the contents of the Borrower’s prepayment notice and of such Appropriate Lender’s Pro Rata Share of the prepayment. Each Term Lender may reject all or a portion of its Pro Rata Share of any mandatory prepayment
(such declined amounts, the “Declined Proceeds”) of Term Loans required to be made pursuant to clause (i) or (ii) of this Section 2.04(b) by providing written notice (each, a
“Rejection Notice”) to the Administrative Agent and the Borrower no later than 5:00 p.m. one Business Day prior to the proposed date of such prepayment. Each Rejection Notice from a given Lender shall specify the principal amount of
the mandatory repayment of Term Loans to be rejected by such Lender. If a Term Lender fails to deliver a Rejection Notice to the Administrative Agent within the time frame specified above, any such failure will be deemed an acceptance of the total
amount of such mandatory prepayment of Term Loans. If a Term Lender delivers a Rejection Notice to the Administrative Agent within the time frame specified above, but fails to specify the principal amount of the Term Loans to be rejected, such Term
Lender will be deemed to reject the total amount of such mandatory prepayment. Any Declined Proceeds remaining thereafter may be retained by the Borrower and/or applied, at the discretion of the Borrower, for any purpose not otherwise prohibited by
this Agreement. 

  
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 (vi)    Funding Losses, Etc. All prepayments under this
Section 2.04 shall be made together with, in the case of any such prepayment of a Eurocurrency Rate Loan on a date other than the last day of an Interest Period therefor, any amounts due in respect of such Eurocurrency Rate
Loan pursuant to Section 3.05. Notwithstanding any of the other provisions of this Section 2.04(b), so long as no Event of Default shall have occurred and be continuing, if any prepayment of
Eurocurrency Rate Loans is required to be made under this Section 2.04(b), other than on the last day of the Interest Period therefor, the Borrower may, in its sole discretion, deposit the amount of any such prepayment
otherwise required to be made thereunder into a Cash Collateral Account until the last day of such Interest Period, at which time the Administrative Agent shall be authorized (without any further action by or notice to or from the Borrower or any
other Loan Party) to apply such amount to the prepayment of such Loans in accordance with this Section 2.04(b). Upon the occurrence and during the continuance of any Event of Default, the Administrative Agent shall also be
authorized (without any further action by or notice to or from the Borrower or any other Loan Party) to apply such amount to the prepayment of the outstanding Loans in accordance with this Section 2.04(b). 

SECTION 2.05.    Termination or Reduction of Commitments. (a) Optional. The Borrower may, upon notice
to the Administrative Agent, elect to terminate the Revolving Credit Commitments, the Alternative Currency Sublimit or the Letter of Credit Sublimit, or from time to time permanently reduce the Revolving Credit Commitments, the Alternative Currency
Sublimit or the Letter of Credit Sublimit; provided, that (i) any such notice shall be received by the Administrative Agent not later than 2:00 p.m. three Business Days prior to the date of termination or reduction, (ii) any such
partial reduction shall be in an aggregate amount of $5 million or any whole multiple of $1 million in excess thereof and (iii) the Borrower shall not elect to terminate or reduce (A) the Revolving Credit Commitments if, after
giving effect thereto and to any concurrent prepayments hereunder, the Total Outstandings for the Revolving Credit Facility (other than Letters of Credit that have been Cash Collateralized or otherwise subject to arrangements satisfactory to the
applicable L/C Issuer) would exceed the Revolving Credit Commitments, (B) the Alternative Currency Sublimit if, after giving effect thereto and to any concurrent prepayment or Cash Collateralization of Alternative Currency Exposure attributable
to L/C Obligations, the Alternative Currency Exposure (excluding Alternative Currency Exposure attributing to Letters of Credit denominated in a Permitted Additional L/C Currency) would exceed the Alternative Currency Sublimit or (C) the Letter
of Credit Sublimit if, after giving effect thereto, the Outstanding Amount of L/C Obligations (other than Letters of Credit that have been Cash Collateralized or otherwise subject to arrangements satisfactory to the applicable L/C Issuer) would
exceed the Letter of Credit Sublimit. 
 (b)    Application of Commitment Reductions; Payment of Fees. The
Administrative Agent will promptly notify the Lenders of any termination or reduction of unused portions of the Letter of Credit Sublimit or the unused Commitments of any Class under this Section 2.05. Upon any
reduction of unused Commitments of any Class, the Commitment of each Lender of such Class shall be reduced by such Lender’s Pro Rata Share of the amount by which such Commitments are reduced (other than the termination of the Commitment of
any Lender as provided in Section 10.13). All commitment fees accrued until the effective date of any termination of the Aggregate Commitments shall be paid on the effective date of such termination.

  
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 SECTION 2.06.    Repayment of Loans. (a) Term Loans. The
Borrower shall repay to the Administrative Agent for the ratable account of the Term Lenders (i) on the last day of each March, June, September and December, beginning with September, 2014, and ending with the last such date to occur prior to
the Maturity Date for the Term Loans, an aggregate principal amount of Term Loans equal to 0.25% of the aggregate principal amount of Term Loans made pursuant to this Agreement on the Closing Date (subject to adjustment as provided below) and
(ii) on the Maturity Date for the Term Loans, the aggregate principal amount of all Term Loans outstanding on such date. All prepayments of Term Loans shall be applied to reduce the subsequent scheduled repayments of Term Loans specified in the
first sentence of this paragraph as directed by the Borrower by notice to the Administrative Agent (or, absent such direction, in the direct order of maturity thereof); provided that, if any Term Loan is canceled as provided in
Section 10.06(k), then such cancellation shall be applied to reduce the subsequent scheduled repayments of Term Loans pro rata; provided, further, that the proceeds of the First Amendment Effective Date Prepayment shall be applied
in accordance with this Section 2.06(a) to satisfy all regularly scheduled repayments under this Section 2.06(a) that would otherwise apply after the First Amendment Effective Date Prepayment and
as a result, after giving effect to the First Amendment Effective Date Prepayment, the only remaining principal payments of Term Loans shall be due and payable on the Maturity Date of the Term Loans. 

(b)    Revolving Credit Loans. The Borrower shall repay to the Administrative Agent for the ratable account of the
Appropriate Lenders on the Maturity Date for the Revolving Credit Facility the aggregate principal amount of all of the Borrower’s Revolving Credit Loans outstanding on such date. 

SECTION 2.07.    Interest. (a) Subject to the provisions of Section 2.07(b), (i)
each Eurocurrency Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurocurrency Rate for such Interest Period plus the Applicable Rate and
(ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate. 

(b)    (i) If any amount of principal of any Loan is not paid when due (without regard to any applicable grace periods),
whether at stated maturity, by acceleration or otherwise, such overdue amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.

 (ii)    If any amount (other than principal of any Loan) payable by the Borrower under any Loan Document is not paid
when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then such overdue amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the
Default Rate to the fullest extent permitted by applicable Laws. 
 (iii)    Accrued and unpaid interest on past due
amounts (including interest on past due interest) shall be due and payable upon demand. 
 (c)    Interest on each Loan
shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and
before and after the commencement of any proceeding under any Debtor Relief Law. 

  
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 SECTION 2.08.    Fees. In addition to certain fees described in
Sections 2.03(h) and (i): 
 (a)    Commitment Fee. The Borrower agrees to pay
to the Administrative Agent, for the account of each Revolving Credit Lender in accordance with its Pro Rata Share, a commitment fee equal to the Applicable Rate multiplied by the actual daily amount by which the aggregate Revolving Credit
Commitment exceeds the sum of (A) the Outstanding Amount of Revolving Credit Loans and (B) the Outstanding Amount of L/C Obligations; provided, that any commitment fee accrued with respect to any of the Commitments of a Defaulting
Lender during the period prior to the time such Lender became a Defaulting Lender and unpaid at such time shall not be payable by the Borrower so long as such Lender shall be a Defaulting Lender except to the extent that such commitment fee shall
otherwise have been due and payable by the Borrower prior to such time; and provided, further, that no commitment fee shall accrue on any of the Commitments of a Defaulting Lender so long as such Lender shall be a Defaulting Lender. The
commitment fee on the Revolving Credit Facility shall accrue at all times from the earlier of (x) Closing Date and (y) the Distribution Date, until the Maturity Date for the Revolving Credit Facility, including at any time during which one
or more of the conditions in Article IV is not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after
the Closing Date, and on the Maturity Date for the Revolving Credit Facility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be
computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. 

(b)    Ticking Fee. The Borrower agrees to pay to the Administrative Agent for the account of each Term Lender
(subject to Section 2.16 in the case of a Defaulting Lender) a ticking fee, which shall accrue on the daily amount of the Term Commitment of such Lender during the period from and including the 45th day following
April 24, 2014 (the “Ticking Fee Start Date”) to but excluding the earlier to occur of (i) the Closing Date and (ii) June 30, 2014, at a rate equal to 50% of the then Applicable Rate for Eurocurrency Rate Term
Loans. Accrued ticking fees, if any, shall be payable on the earlier to occur of (A) the Closing Date or (B) June 30, 2014. All ticking fees shall be computed on the basis of a year of 360 days and shall be payable for the actual
number of days elapsed (including the first day but excluding the last day). 
 (c)    Upfront Fee. The Borrower
agrees to pay to the Administrative Agent for the account of each Term Lender an upfront fee in an amount equal to 1.00% of the stated principal amount of such Term Lender’s Term Loan made on the Closing Date (it being agreed that, at the
option of the Borrower, such upfront fee may take the form of original issue discount, it being understood that, notwithstanding any such original issue discount, the initial outstanding principal amount of such Term Loan, and the amount thereof in
respect of which the Borrower shall be obligated, shall be the full principal amount thereof without giving effect to any such original issue discount). The upfront fee described in this paragraph (c) will be payable on (and subject to
the occurrence of) the Closing Date. 

  
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 (d)    Other Fees. The Borrower shall pay to the Agents such fees as
shall have been separately agreed upon in writing in the amounts and at the times so specified. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever (except as expressly agreed between the Borrower and the
applicable Agent). 
 SECTION 2.09.    Computation of Interest and Fees. All computations of interest for Base
Rate Loans determined by reference to clause (b) of the definition of “Base Rate” and Eurocurrency Rate Loans denominated in Sterling shall be made on the basis of a year of 365 days or, in the case of such Base Rate Loans,
366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360 day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than
if computed on the basis of a 365 day year). Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid; provided,
that any Loan that is repaid on the same day on which it is made shall, subject to Section 2.11(a), bear interest for one day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be
conclusive and binding for all purposes, absent demonstrable error. 
 SECTION 2.10.    Evidence of
Indebtedness. (a) The Credit Extensions made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and by the Administrative Agent in the ordinary course of business. The accounts or records
maintained by the Administrative Agent and each Lender shall be conclusive absent demonstrable error of the amount of the Credit Extensions made by the Lenders to the Borrower and the interest and payments thereon. Any failure to so record or any
error in doing so shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict between the accounts and records maintained by any Lender
and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of demonstrable error. Upon the request of any Lender made through the
Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Note, which shall evidence such Lender’s Loans in addition to such accounts or records. Each Lender may attach schedules to its
Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect thereto. 

(b)    In addition to the accounts and records referred to in Section 2.10(a), each Lender and
the Administrative Agent shall maintain in accordance with its usual practice accounts or records evidencing the purchases and sales by such Lender of participations in Letters of Credit. In the event of any conflict between the accounts and records
maintained by the Administrative Agent and the accounts and records of any Lender in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of demonstrable error. 

SECTION 2.11.    Payments Generally. (a) Except as otherwise provided herein, including pursuant to
Section 3.01, all payments to be made by the Borrower shall be made without condition or deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly provided herein, all payments by the Borrower hereunder shall
be made to the Administrative Agent, for the account of the respective Lenders to which such payment is 

  
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owed, at the applicable Administrative Agent’s Office in Dollars (or, in the case of principal of or interest on any Obligations denominated in, and to be paid in, an Alternative Currency,
such Alternative Currency) and in Same Day Funds not later than 3:00 p.m. New York City time in case of the Obligations denominated in Dollars or 12:00 noon New York City time in the case of Obligations denominated in an Alternative Currency, in
each case on the date specified herein. The Administrative Agent will promptly distribute to each Lender its Pro Rata Share (or other applicable share as provided herein) of such payment in like funds as received by wire transfer to such
Lender’s applicable Lending Office. All payments received by the Administrative Agent on the due date (i) after 3:00 p.m. New York City time, in the case of payments in Dollars or (ii) after 12:00 noon New York City time in the case
of payments in an Alternative Currency, shall in each case be deemed received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue. 

(b)    If any payment to be made by the Borrower shall come due on a day other than a Business Day, payment shall be made
on the next following Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be; provided that, if such extension would cause payment of interest on or principal of Eurocurrency Rate Loans
to be made in the next succeeding calendar month, such payment shall be made on the immediately preceding Business Day. 

(c)    (i) Unless the Administrative Agent shall have received notice from a Lender prior to the proposed time of any
Borrowing that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with
Section 2.02 and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the
Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount in immediately available funds with interest thereon, for each day from and including
the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (A) in the case of a payment to be made by such Lender, the greater of the Federal Funds Rate and a rate as reasonably
determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, plus any administrative, processing or similar fees customarily charged by the Administrative Agent in connection with the foregoing,
and (B) in the case of a payment to be made by the Borrower, the interest rate applicable to Base Rate Loans. If the Borrower and such Lender shall pay such interest to the Administrative Agent for the same or an overlapping period, the
Administrative Agent shall promptly remit to the Borrower the amount of such interest paid by the Borrower for such period. If such Lender pays its share of the applicable Borrowing to the Administrative Agent, then the amount so paid shall
constitute such Lender’s Loan included in such Borrowing. Any payment by the Borrower shall be without prejudice to any claim the Borrower may have against a Lender that shall have failed to make such payment to the Administrative Agent. 

(ii)    Unless the Administrative Agent shall have received notice from the Borrower prior to the time at which any
payment is due to the Administrative Agent for the account of the Lenders or an L/C Issuer hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made such payment on

  
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such date in accordance herewith and may, in reliance upon such assumption, distribute to the Appropriate Lenders or the applicable L/C Issuers, as the case may be, the amount due. In such event,
if the Borrower has not in fact made such payment, then each of the Appropriate Lenders or the applicable L/C Issuers, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such
Lender or such L/C Issuer, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the
Federal Funds Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation. 

A notice of the Administrative Agent to any Lender or the Borrower with respect to any amount owing under this
clause (c) shall be conclusive, absent demonstrable error. 
 (d)    If any Lender makes
available to the Administrative Agent funds for any Loan to be made by such Lender as provided in the foregoing provisions of this Article II, and such funds are not made available to the Borrower by the Administrative
Agent because the conditions to the applicable Credit Extension set forth in Article IV are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return such funds (in like funds as
received from such Lender) to such Lender, without interest. 
 (e)    The obligations of the Lenders hereunder to make
Loans, to fund participations in Letters of Credit and to make payments pursuant to Section 10.04(c) are several and not joint. The failure of any Lender to make any Loan, to fund any such participation or to make any
payment under Section 10.04(c) on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no Lender shall be responsible for the failure of any other Lender
to so make its Loan, purchase its participation or to make its payment under Section 10.04(c). 

(f)    Nothing herein shall be deemed to obligate any Lender to obtain the funds for any Loan in any particular place or
manner or to constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place or manner. 

(g)    Except as otherwise provided herein, whenever any payment received by the Administrative Agent under this
Agreement or any of the other Loan Documents is insufficient to pay in full all amounts due and payable to the Administrative Agent and the Lenders under or in respect of this Agreement and the other Loan Documents on any date, such payment shall be
distributed by the Administrative Agent and applied by the Administrative Agent and the Lenders in the order of priority set forth in Section 8.03. If the Administrative Agent receives funds for application to the
Obligations of the Loan Parties under or in respect of the Loan Documents under circumstances for which the Loan Documents do not specify the manner in which such funds are to be applied, the Administrative Agent may (to the fullest extent permitted
by mandatory provisions of applicable Law), but shall not be obligated to, elect to distribute such funds to each of the Lenders in accordance with such Lender’s Pro Rata Share of the sum of (a) the Outstanding Amount of all Loans
outstanding at such time and (b) the Outstanding Amount of all L/C Obligations outstanding at such time, in repayment or prepayment of such of the outstanding Loans or other Obligations then owing to such Lender. 

  
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 SECTION 2.12.    Sharing of Payments. Subject to
Section 2.04(b)(v), if any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment in respect of (a) Obligations due and payable to such Lender hereunder and under the other Loan
Documents at such time in excess of its ratable share (according to the proportion of (i) the amount of such Obligations due and payable to such Lender at such time to (ii) the aggregate amount of the Obligations due and payable to all
Lenders hereunder and under the other Loan Documents at such time) of payments on account of the Obligations due and payable to all Lenders hereunder and under the other Loan Documents at such time obtained by all the Lenders at such time or
(b) Obligations owing (but not due and payable) to such Lender hereunder and under the other Loan Documents at such time in excess of its ratable share (according to the proportion of (i) the amount of such Obligations owing (but not due
and payable) to such Lender at such time to (ii) the aggregate amount of the Obligations owing (but not due and payable) to all Lenders hereunder and under the other Loan Parties at such time) of payment on account of the Obligations owing (but
not due and payable) to all Lenders hereunder and under the other Loan Documents at such time obtained by all of the Lenders at such time then the Lender receiving such greater proportion shall (a) notify the Administrative Agent of such fact,
and (b) purchase (for cash at face value) participations in the Loans and subparticipations in L/C Obligations of the other Lenders, or make such other adjustments as shall be equitable, so that the benefit of all such payments shall be shared
by the Lenders ratably in accordance with the aggregate amount of Obligations then due and payable to the Lenders or owing (but not due and payable) to the Lenders, as the case may be; provided that: 

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

(ii)    the provisions of this Section shall not be construed to apply to (x) any payment made by or on behalf of
the Borrower pursuant to and in accordance with the express terms of this Agreement (including the application of funds arising from the existence of a Defaulting Lender), (y) the application of Cash Collateral provided for in
Section 2.16, or (z) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans or subparticipations in L/C Obligations to any assignee or participant, other
than an assignment (except an assignment permitted by Section 10.06(i)) to the Borrower or any of its Subsidiaries (as to which the provisions of this Section shall apply). 

Each Loan Party consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation
pursuant to the foregoing arrangements may exercise against such Loan Party rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of such Loan Party in the amount of such
participation. 
 SECTION 2.13.    Incremental Credit Extensions. (a) The Borrower may, at any time or from
time to time after the Closing Date, by notice to the Administrative Agent (whereupon the Administrative Agent shall promptly deliver a copy to each of the Lenders), request one or more additional tranches of term loans (the “Incremental
Term Loans”); provided, that upon the effectiveness of any Incremental Amendment referred to below and at 

  
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the time that any such Incremental Term Loan is made (and after giving effect thereto), subject to Section 2.13(d), (i) no Default or Event of Default shall exist and
(ii) the Borrower shall be in Pro Forma Compliance with the financial covenant in Section 7.08. Each tranche of Incremental Term Loans shall be in an aggregate principal amount that is not less than $25 million
(provided, that such amount may be less than $25 million if such amount represents all remaining availability under the limit set forth in the next sentence or if the Administrative Agent consents to such lesser amount). Notwithstanding
anything to the contrary herein, the aggregate amount of the Incremental Term Loans (other than, for the avoidance of doubt, those established in respect of Extended Term Loans pursuant to Section 2.15) shall not exceed the
Maximum Incremental Term Loan Amount. 
 (b)    The Incremental Term Loans (i) shall rank pari passu or
junior in right of payment and of security with the Revolving Credit Loans and the Term Loans, (ii) shall not mature earlier than the Maturity Date with respect to the Term Loans, (iii) shall not have a shorter Weighted Average Life to
Maturity than the remaining Weighted Average Life to Maturity of the Term Loans, (iv) shall be entitled to share in mandatory and voluntary prepayments on a ratable (or less than ratable, but in no event greater than ratable) basis with the
Term Loans, and (v) shall bear interest at rates and be entitled to upfront fees as shall be determined by the Borrower and the applicable new Lenders; provided, however, that if the All-In Yield
with respect to any such Incremental Term Loans (except for Incremental Term Loans having a maturity date and a Weighted Average Life to Maturity that are each two years or more later than the Maturity Date and the remaining Weighted Average Life to
Maturity of the Term Loans) shall exceed the All-In Yield with respect to the Term Loans by more than 50 basis points, then the interest rate margins applicable to the Term Loans shall be increased so that
such excess shall be only 50 basis points. The Incremental Term Loans shall otherwise be on terms and pursuant to documentation to be determined by the Borrower; provided that, to the extent such terms and documentation are not consistent
with the Term Facility with respect to periods on or prior to the Maturity Date thereof (except to the extent permitted by clauses (i) through (v) above), they shall be reasonably satisfactory to the Administrative Agent (it being
understood to the extent that any financial maintenance covenant is added or a restrictive covenant is made more restrictive for the benefit of any Incremental Term Loans, no consent shall be required from the Administrative Agent or any Lender to
the extent that such financial maintenance covenant is also added or similarly made more restrictive for the benefit of any corresponding existing Term Loans or is made applicable only after the Maturity Date of the Term Loans) and subject to
clauses (ii) and (iii) above, the amortization schedule (if any) applicable to the Incremental Term Loans shall be determined by the Borrower and the Lenders thereof. 

(c)    Each notice from the Borrower pursuant to this Section 2.13 shall set forth the
requested amount and proposed terms of the relevant Incremental Term Loans. Incremental Term Loans may be made by any existing Lender or by any other bank or other financial institution (any such other bank or other financial institution being
called an “Additional Lender”); provided, that the Administrative Agent shall have consented (with such consent not to be unreasonably withheld or delayed) to such Additional Lender’s making such Incremental Term Loans
if such consent would be required under Section 10.06(b) for an assignment of Term Loans to such Additional Lender. Commitments in respect of Incremental Term Loans shall become Commitments under this Agreement pursuant to
an amendment (an “Incremental Amendment”) to this Agreement and, as appropriate, the other Loan Documents, executed by 

  
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the Borrower, each Lender agreeing to provide such Commitment, if any, each Additional Lender, if any, and the Administrative Agent. The Incremental Amendment shall, without the consent of the
Agents or the Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower to effect the provisions of this
Section 2.13, including without limitation to incorporate the applicable lenders in respect of Incremental Term Loans as “Lenders”, and the Incremental Term Loans as “Loans” and/or
“Term Loans”, for all applicable purposes hereunder, including the definitions of Required Lenders and Required Class Lenders and to establish any tranche of Incremental Term Loans as an independent Class or Facility, as
applicable. The effectiveness of any Incremental Amendment shall be subject to such further conditions as the Borrower and the applicable Lenders and Additional Lenders shall agree. The Borrower may use the proceeds of the Incremental Term Loans for
any purpose not prohibited by this Agreement. No Lender shall be obligated to provide any Incremental Term Loans, unless it so agrees. 

(d)    Notwithstanding anything to the contrary in this Section 2.13 or in
Article IV or otherwise in this Agreement, so long as no Event of Default has occurred pursuant to Section 8.01(a) or (f), the lenders providing any Incremental Term Loans in connection with
a Permitted Acquisition may agree to modify the conditionality with respect to such Incremental Term Loans such that the Permitted Acquisition may be consummated on a “certain funds” basis. 

(e)    The effectiveness of any Incremental Amendment shall be subject to, if requested by the Administrative Agent,
receipt by the Administrative Agent of (i) customary legal opinions, board resolutions and officers’ certificates consistent with those delivered on the Closing Date (conformed as appropriate, including to reflect any Incremental Term
Loans provided on a “certain funds” basis) and (ii) reaffirmation agreements and/or such amendments to the Collateral Documents as may be reasonably requested by the Administrative Agent in order to ensure that such Incremental Term
Loans are provided with the benefit of the applicable Loan Documents. 
 (f)    This
Section 2.13 shall supersede any provisions in Section 2.12 or 10.01 to the contrary. 

SECTION 2.14.    Refinancing Amendments. (a) On one or more occasions after the Closing Date, the Borrower
may obtain, from any Lender or any Additional Refinancing Lender, Credit Agreement Refinancing Indebtedness in respect of all or any portion of the Term Loans then outstanding under this Agreement, in the form of Other Term Loans or Other Term Loan
Commitments, pursuant to a Refinancing Amendment. The effectiveness of any Refinancing Amendment shall be subject to the satisfaction on the date thereof of each of the conditions set forth in Section 4.03 (which, for the
avoidance of doubt, shall not require compliance with Section 7.08 for any incurrence of Other Term Loans) and, to the extent reasonably requested by the Administrative Agent, receipt by the Administrative Agent of
(i) customary legal opinions, board resolutions and officers’ certificates consistent with those delivered on the Closing Date (conformed as appropriate) and (ii) reaffirmation agreements and/or such amendments to the Collateral
Documents as may be reasonably requested by the Administrative Agent in order to ensure that such Credit Agreement Refinancing Indebtedness is provided with the benefit of the applicable Loan Documents. 

  
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 (b)    Each issuance of Credit Agreement Refinancing Indebtedness under
Section 2.14(a) shall be in an aggregate principal amount that is (i) $25 million or an integral multiple of $5 million in excess thereof, unless the Administrative Agent shall otherwise agree in its discretion,
or (ii) in the case of a refinancing of all Term Loans of a particular Class, such other amount as shall be necessary to refinance all Term Loans of such Class. 

(c)    Each of the parties hereto hereby agrees that this Agreement and the other Loan Documents may be amended pursuant
to a Refinancing Amendment, without the consent of any other Lenders, to the extent (but only to the extent) necessary to (i) reflect the existence and terms of the Credit Agreement Refinancing Indebtedness incurred pursuant thereto, including
without limitation to incorporate the applicable lenders in respect of Other Term Loans as “Lenders”, and the Other Term Loans as “Loans” and/or “Term Loans”, for all applicable purposes hereunder,
including the definitions of Required Lenders and Required Class Lenders and to establish any tranche of Other Term Loans as an independent Class or Facility, as applicable, and (ii) effect such other amendments to this Agreement and
the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower, to effect the provisions of this Section 2.14, and the Lenders hereby expressly authorize
the Administrative Agent to enter into any such Refinancing Amendment, which shall not, for the avoidance of doubt be subject to Section 10.01. 

SECTION 2.15.    Extension Offers. (a) Pursuant to one or more offers made from time to time by the Borrower
to all Term Lenders of a particular Class by notice to the Administrative Agent, on a pro rata basis (based on the aggregate outstanding Term Loans of such Class) and on the same terms (“Term Extension Offers”), the
Borrower is hereby permitted to consummate transactions with individual Term Lenders from time to time to extend the maturity date of such Lender’s Term Loans and to otherwise modify the terms of such Lender’s Term Loans pursuant to the
terms of the relevant Term Extension Offer (including increasing the interest rate or fees payable in respect of such Lender’s Term Loans and/or modifying the amortization schedule (if any) in respect of such Lender’s Term Loans). Pursuant
to one or more offers made from time to time by the Borrower to all Revolving Credit Lenders by notice to the Administrative Agent, on a pro rata basis (based on the aggregate outstanding Revolving Credit Commitments) and on the same terms
(“Revolving Extension Offers” and, together with Term Extension Offers, “Extension Offers”), the Borrower is hereby permitted to consummate transactions with individual Revolving Credit Lenders from time to time to
extend the maturity date of such Lender’s Revolving Credit Commitments and to otherwise modify the terms of such Lender’s Revolving Credit Commitments pursuant to the terms of the relevant Revolving Extension Offer (including increasing
the interest rate or fees payable in respect of such Lender’s Revolving Credit Commitments). For the avoidance of doubt, the reference to “on the same terms” in the preceding sentences shall mean, (i) when comparing Term
Extension Offers, that the Term Loans are offered to be extended for the same amount of time and that the interest rate changes and fees payable in respect thereto are the same and (ii) when comparing Revolving Extension Offers, that the
Revolving Credit Commitments are offered to be extended for the same amount of time and that the interest rate changes and fees payable in respect thereto are the same. Any such extension (an “Extension”) agreed to between the
Borrower and any such Lender (an “Extending Lender”) will be established under this Agreement pursuant to a Loan Extension Agreement (any such extended Term Loan, an “Extended Term Loan” and any such extended
Revolving Credit Commitment, an “Extended Revolving Credit Commitment”). 

  
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 (b)    The Borrower and each Extending Lender shall execute and deliver to
the Administrative Agent a Loan Extension Agreement and such other documentation as the Administrative Agent shall reasonably specify to evidence the Extended Term Loans and/or Extended Revolving Credit Commitments of such Extending Lender. Each
Loan Extension Agreement shall specify the terms of the applicable Extended Term Loans and/or Extended Revolving Credit Commitments; provided, that (i) except as to interest rates, fees, amortization, final maturity date, collateral
arrangements and voluntary and mandatory prepayment arrangements (which shall, subject to clauses (ii) and (iii) of this proviso, be determined by the Borrower and set forth in the Extension Offer), the Extended Term Loans shall
have (x) the same terms as the Term Loans being extended, or (y) such other terms as shall be reasonably satisfactory to the Administrative Agent, (ii) the final maturity date of any Extended Term Loans shall be no earlier than the
Maturity Date for the Term Loans being extended, (iii) the Weighted Average Life to Maturity of any Extended Term Loans shall be no shorter than the remaining Weighted Average Life to Maturity of the Term Loans being extended and
(iv) except as to interest rates, fees, final maturity, collateral arrangements and voluntary and mandatory prepayment arrangements, any Extended Revolving Credit Commitment shall be a Revolving Credit Commitment with the same terms as the
Revolving Credit Commitments being extended. Upon the effectiveness of any Loan Extension Agreement, this Agreement shall be amended to the extent necessary to reflect the existence and terms of the Extended Term Loans and/or Extended Revolving
Credit Commitments evidenced thereby and other changes necessary to preserve the intent of this Agreement without the consent of any other Lender and without regard to Section 10.01, including without limitation to
incorporate the Extending Lenders as “Lenders”, and the Extended Term Loans and Extended Revolving Credit Commitments as “Loans” and/or “Term Loans” and/or Commitments, for all applicable purposes
hereunder, including the definitions of Required Lenders and Required Class Lenders and to establish any tranche of Extended Term Loans or Extended Revolving Credit Commitments as an independent Class or Facility, as applicable. Any such
deemed amendment may, at the Borrower’s or the Administrative Agent’s request, be memorialized in writing by the Administrative Agent and the Borrower and furnished to the other parties hereto. 

(c)    Upon the effectiveness of any such Extension, the applicable Extending Lender’s Term Loan will be
automatically designated an Extended Term Loan and/or such Extending Lender’s Revolving Credit Commitment will be automatically designated an Extended Revolving Credit Commitment. For the avoidance of doubt, the commitments and obligations of
L/C Issuer in respect of its L/C Commitment can only be extended pursuant to an Extension or otherwise with such Person’s consent. 

(d)    Notwithstanding anything to the contrary set forth in this Agreement or any other Loan Document (including this
Section 2.15), (i) no Extended Term Loan or Extended Revolving Credit Commitment is required to be in any minimum amount or any minimum increment; provided, that the aggregate amount of Extended Term Loans or
Extended Revolving Credit Commitments for any new Class of Term Loans or Revolving Credit Commitments made in connection with any Extension Offer shall be at least $25 million (or such lesser amount as shall equal the entire amount of
outstanding Term Loans of any Class or Revolving Credit 

  
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Commitments of any Class, as applicable, being extended), (ii) any Extending Lender may extend all or any portion of its Term Loans and/or Revolving Credit Commitment pursuant to one or more
Extension Offers (subject to applicable proration in the case of over participation) (including the extension of any Extended Term Loan and/or Extended Revolving Credit Commitment), (iii) there shall be no condition to any Extension of any Loan or
Revolving Credit Commitment at any time or from time to time other than notice to the Administrative Agent of such Extension, any conditions set forth in the applicable Extension Offer and the terms of the Extended Term Loan or Extended Revolving
Credit Commitment implemented thereby, (iv) the interest rate limitations referred to in the proviso to clause (v) of Section 2.13(b) shall not be implicated by any Extension, (v) all obligations in
respect of Extended Term Loans and Extended Revolving Credit Commitments shall be Obligations under this Agreement and the other Loan Documents that are secured by the Collateral on a pari passu basis with all other Obligations under this
Agreement and the other Loan Documents and (vi) no Lender shall have any obligation to extend the maturity date or otherwise modify the terms of its Term Loans or Revolving Credit Commitments pursuant to any Extension Offers made by the
Borrower hereunder. 
 (e)    Each extension shall be consummated pursuant to procedures set forth in the associated
Extension Offer; provided, that the Borrower shall cooperate with the Administrative Agent prior to making any Extension Offer to establish reasonable procedures with respect to mechanical provisions relating to such Extension, including
timing, rounding and other adjustments. 
 SECTION 2.16.    Defaulting Lenders. (a) Reallocation of
Participations to Reduce Fronting Exposure. All or any part of a Defaulting Lender’s participation in L/C Obligations shall be reallocated among the Non-Defaulting Lenders in accordance with their
respective Applicable Percentages (calculated without regard to such Defaulting Lender’s Commitment) but only to the extent that (x) the conditions set forth in Section 4.03 are satisfied at the time of such
reallocation (and, unless the Borrower shall have otherwise notified the Administrative Agent at such time, the Borrower shall be deemed to have represented and warranted that such conditions are satisfied at such time), and (y) such
reallocation does not cause the aggregate Revolving Credit Exposure of any Non-Defaulting Lender to exceed such Non-Defaulting Lender’s Revolving Credit Commitment.
Subject to Section 10.23, no reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including
any claim of a Non-Defaulting Lender as a result of such Non-Defaulting Lender’s increased exposure following such reallocation. 

(b)    Cash Collateral. If the reallocation described in Section 2.16(a) cannot, or can
only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under law, Cash Collateralize the L/C Issuers’ Fronting Exposure in accordance with the procedures set forth in
Section 2.03(g). 
 (c)    New Letters of Credit. Notwithstanding anything in this
Agreement to the contrary, so long as any Revolving Credit Lender is a Defaulting Lender, no L/C Issuer shall be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after
giving effect thereto. 

  
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 (d)    Defaulting Lender Cure. If the Borrower, the Administrative
Agent and each L/C Issuer agree in writing that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set
forth therein (which may include arrangements with respect to any Cash Collateral), that Lender will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative
Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit to be held pro rata by the Lenders in accordance with the Commitments under the applicable Facility (without giving effect to
Section 2.16(a)), whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower
while such Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the Borrower, the Administrative Agent and each L/C Issuer, no notice given pursuant to this Section 2.16(d)
that such Lender has ceased to be a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from such Lender having been a Defaulting Lender. 

SECTION 2.17.    MIRE Events. Prior to the occurrence of a MIRE Event, the Borrower shall provide to the
Administrative Agent (and authorize the Administrative Agent to provide to the Revolving Credit Lenders) the following documents in respect of any Mortgage (if any): (a) a flood hazard determination from a third party vendor; (b) if such real
property is so determined to be located in a “special flood hazard area”, (i) a notification to the Administrative Agent of that fact and (if applicable) notification to the Administrative Agent that flood insurance is not available
through the National Flood Insurance Program; and (c) if required by Flood Laws, evidence of required flood insurance. 
 ARTICLE III

 TAXES, INCREASED COSTS PROTECTION AND ILLEGALITY 

SECTION 3.01.    Taxes. (a) Any and all payments by any Loan Party to or for the account of any Recipient
under any Loan Document shall be made free and clear of and without deduction for any Taxes, except as required by applicable Law. If any Withholding Agent shall be required by any applicable Law to deduct any Taxes from or in respect of any such
payment, (i) the applicable Withholding Agent shall be entitled to make such deductions, (ii) the applicable Withholding Agent shall pay the full amount so deducted to the relevant Governmental Authority in accordance with applicable Law,
(iii) as soon as practicable after the date of such payment, if the Borrower or the applicable Subsidiary Guarantor is the Withholding Agent, such Withholding Agent shall furnish to the Administrative Agent the original or a copy of a receipt
evidencing payment thereof, a copy of the tax return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent, and (iv) if such Tax is an Indemnified Tax, the sum payable by the applicable
Loan Party shall be increased as necessary so that after all required deductions have been made (including deductions applicable to additional sums payable under this Section 3.01(a)), the applicable Recipient receives an
amount equal to the sum it would have received had no such deductions been made. 

  
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 (b)    In addition, the Borrower and the Subsidiary Guarantors agree to pay
any and all present or future stamp, court or documentary, intangible, mortgage recording or similar Taxes which arise from any payment made under any Loan Document or from the execution, delivery, performance, enforcement or registration of, or
otherwise with respect to, any Loan Document, excluding any such Taxes imposed as a result (i) of an assignment by a Lender (other than an assignment made pursuant to Section 10.13) or (ii) grant of or
participation, or a transfer or assignment to or designation of a new Lending Office or other office for receiving payments under any Loan Document, in each case that are Other Connection Taxes (hereinafter referred to as “Other
Taxes”) to the relevant Governmental Authority, in accordance with applicable Law. 
 (c)    Each of the
Borrower and the Subsidiary Guarantors agrees to, jointly and severally, indemnify each Recipient, within 10 Business Days after written demand therefor, for (i) the full amount of any Indemnified Taxes (including Indemnified Taxes imposed on
or attributable to amounts payable under this Section 3.01) payable by such Recipient, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the Governmental Authority. A certificate as to
the amount of such payment or liability prepared in good faith and delivered to the Borrower by a Lender or by the Administrative Agent on its own behalf or on behalf of a Lender shall be conclusive absent demonstrable error. 

(d)    Status of Lenders. Each Lender shall, at such times as are reasonably requested by the Borrower or the
Administrative Agent, provide the Borrower and the Administrative Agent with such properly completed and executed documentation prescribed by any Laws or reasonably requested by the Borrower or the Administrative Agent certifying as to any
entitlement of such Lender to an exemption from, or reduction in the rate of, any applicable withholding Tax with respect to any payments to be made to such Lender under any Loan Document. In addition, any Lender, if reasonably requested by the
Borrower or the Administrative Agent, shall deliver such other documentation prescribed by any Laws or reasonably requested by the Borrower or the Administrative Agent as will enable the Loan Parties or the Administrative Agent to determine whether
or not such Lender is subject to backup withholding or information reporting requirements. Each Lender shall, whenever any such documentation (including any specific documentation required below in this Section 3.01(d))
becomes obsolete, expired or inaccurate in any respect, deliver promptly to the Borrower and the Administrative Agent updated or other appropriate documentation (including any new documentation reasonably requested by the Borrower or the
Administrative Agent) or promptly notify the Borrower and the Administrative Agent in writing of its legal ineligibility to do so. 

Without limiting the generality of the foregoing: 

(i)    Each U.S. Lender shall deliver to the Borrower and the Administrative Agent on or before the date on which it
becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent) two properly completed and duly executed originals of IRS Form
W-9 certifying that such Lender is exempt from U.S. federal backup withholding; 

(ii)    Each Foreign Lender shall deliver to the Borrower and the Administrative Agent (in such number of copies as shall
be requested by the Borrower or Administrative Agent) on or before the date on which it becomes a Lender under this Agreement (and from time to time 

  
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thereafter upon the reasonable request of the Borrower or the Administrative Agent) whichever of the following is applicable: 

(A)    two properly completed and duly executed originals of IRS Form
W-8BEN (or any successor form) claiming eligibility for the benefits of an income tax treaty to which the United States is a party and such other documentation as required under the Code, 

(B)    two properly completed and duly executed originals of IRS Form
W-8ECI (or any successor form), 
 (C)    in the case of a
Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 871(h) or Section 881(c) of the Code, (A) two properly completed and duly executed certificates substantially in the form of Exhibit G-1 (any such certificate, a “United States Tax Compliance Certificate”) and (B) two properly completed and duly executed originals of IRS Form
W-8BEN (or any successor form), or 
 (D)    to the extent a
Foreign Lender is not the beneficial owner (for example, where the Foreign Lender is a partnership or a participating Lender), two properly completed and duly executed originals of IRS Form W-8IMY (or any
successor form), accompanied by IRS Form W-8ECI, IRS Form W-8BEN or IRS Form W-8BEN-E,
United States Tax Compliance Certificate substantially in the form of Exhibit G-2 or Exhibit G-3, IRS Form W-9, IRS
Form W-8IMY (or any successor form) and/or any other required information, certification or documentation from each beneficial owner, as applicable (provided, that if the Foreign Lender is a partnership
(and not a participating Lender) and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a United States Tax Compliance Certificate substantially in the form
of Exhibit G-4 on behalf of such direct or indirect partner (or partners)); 

(iii)    Any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the
Administrative Agent (in such number of copies as shall be requested by the Borrower or the Administrative Agent) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the
reasonable request of the Borrower or the Administrative Agent), two properly completed and duly executed originals of any other form prescribed by applicable Laws (including the Treasury Regulations) as a basis for claiming a complete exemption
from, or a reduction in, United States federal withholding tax on any payments to such Lender under the Loan Documents, together with such supplementary documentation as may be prescribed by applicable Law (including the Treasury Regulations) to
permit any Loan Party or the Administrative Agent to determine the withholding or deduction required to be made; and 

(iv)    If a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by
FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in 

  
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Sections 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the Administrative Agent at the time or times prescribed by Law and at such time or times
reasonably requested by the Borrower or the Administrative Agent such documentation prescribed by applicable Law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the
Borrower or the Administrative Agent as may be necessary for any Loan Party and the Administrative Agent to comply with their obligations under FATCA, to determine whether such Lender has or has not complied with such Lender’s obligations under
FATCA or to determine the amount, if any, to deduct and withhold from such payment. For purposes of this clause (iv), “FATCA” shall include any amendments made to FATCA after the date of this Agreement and any
intergovernmental agreement or similar agreement intended to facilitate compliance with, or otherwise related to FATCA. 

(e)    Any Lender claiming any additional amounts payable pursuant to this Section 3.01 or
3.04(a) shall use its reasonable efforts to change the jurisdiction of its Lending Office if such a change would reduce any such additional amounts in the future and would not, in the sole good faith determination of such Lender, result in any
unreimbursed cost or expense or be otherwise materially disadvantageous to such Lender. 
 (f)    If any Recipient
determines, in its sole discretion exercised in good faith that it has received a refund in respect of any Taxes as to which indemnification or additional amounts have been paid to it pursuant to this Section 3.01, it shall
promptly remit to the indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made or additional amounts paid under this Section 3.01 with respect to the Taxes giving rise to such
refund), net of all out-of-pocket expenses of such Recipient (including any Taxes imposed with respect to such refund) and without interest (other than any interest paid
by the relevant Governmental Authority with respect to such refund); provided, that such indemnifying party, upon the request of such Recipient, agrees to promptly repay to such Recipient the amount paid over to it pursuant to the above
provisions of this Section 3.01(f) (plus any penalties, interest or other charges imposed by the relevant Governmental Authority), in the event such Recipient is required to repay such refund to the relevant
Governmental Authority. This Section 3.01(f) shall not be construed to require any Lender or Agent to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to any Loan
Party or any other Person. 
 (g)    For the avoidance of doubt, for purposes of this
Section 3.01, the term “Lender” shall include any L/C Issuer and the term “applicable Law” shall include FATCA. 

(h)    For purposes of determining withholding Taxes imposed under FATCA, from and after the First Amendment Effective
Date, the parties shall treat (and the Lenders authorize the Administrative Agent to treat) the Loan and the Commitment as not qualifying as a “grandfathered obligation” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i). 
 SECTION 3.02.    Illegality. If any Lender
determines in good faith in its reasonable discretion that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for such Lender or its applicable Lending Office to make, maintain or fund Loans whose
interest is determined by reference to the Eurocurrency Rate, or to 

  
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determine or charge interest rates based upon the Eurocurrency Rate, or any Governmental Authority has imposed material restrictions on the authority of such Lender to purchase or sell, or to
take deposits of, Dollars in the London interbank market, then, on notice thereof by such Lender to the Borrower through the Administrative Agent, (i) any obligation of such Lender to make or continue Eurocurrency Rate Loans or to convert Base
Rate Loans to Eurocurrency Rate Loans shall be suspended, and (ii) if such notice asserts the illegality of such Lender making or maintaining Base Rate Loans the interest rate on which is determined by reference to the Eurocurrency Rate
component of the Base Rate, the interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Eurocurrency Rate component of the Base Rate, in
each case until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such determination no longer exist. Upon receipt of such notice, (x) the Borrower shall, upon demand from such Lender (with a
copy to the Administrative Agent) convert all Eurocurrency Rate Loans of such Lender to Base Rate Loans (the interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative
Agent without reference to the Eurocurrency Rate component of the Base Rate), or, in the case of Eurocurrency Loans denominated in an Alternative Currency, prepay such Loans, either on the last day of the Interest Period therefor, if such Lender may
lawfully continue to maintain such Eurocurrency Rate Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such Eurocurrency Rate Loans and (y) if such notice asserts the illegality of such Lender determining
or charging interest rates based upon the Eurocurrency Rate, the Administrative Agent shall during the period of such suspension compute the Base Rate applicable to such Lender without reference to the Eurocurrency Rate component thereof until the
Administrative Agent is advised in writing by such Lender that it is no longer illegal for such Lender to determine or charge interest rates based upon the Eurocurrency Rate. Upon any such prepayment or conversion, the Borrower shall also pay
accrued interest on the amount so prepaid or converted. 
 SECTION 3.03.    Inability to Determine Rates. If in
connection with any request for a Eurocurrency Rate Loan or a conversion to or continuation thereof (a) the Administrative Agent determines that (i) deposits in the relevant currency are not being offered to banks in the London interbank
eurocurrency market for the applicable amount and Interest Period of such Eurocurrency Rate Loan or (ii) adequate and reasonable means do not exist for determining the Eurocurrency Rate for any requested Interest Period with respect to a
proposed Eurocurrency Rate Loan or in connection with an existing or proposed Base Rate Loan, or (b) the Required Lenders determine that for any reason the Eurocurrency Rate for any requested Interest Period with respect to a proposed
Eurocurrency Rate Loan does not adequately and fairly reflect the cost to such Lenders of funding such Loan, the Administrative Agent will promptly so notify the Borrower and each Lender. Thereafter, (x) the obligation of the Lenders to make or
maintain Eurocurrency Rate Loans (or, if applicable, Eurocurrency Rate Loans denominated in the affected currency) shall be suspended (to the extent of the affected Eurocurrency Rate Loans or Interest Periods), and (y) in the event of a
determination described in the preceding sentence with respect to the Eurocurrency Rate component of the Base Rate, the utilization of the Eurocurrency Rate component in determining the Base Rate shall be suspended, in each case until the
Administrative Agent (upon the instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Eurocurrency Rate Loans (to the
extent of the affected Eurocurrency Rate Loans or Interest Periods) or, failing that, will be deemed to have converted such request into a request for a committed Borrowing of Base Rate Loans in the amount specified therein. 

  
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 SECTION 3.04.    Increased Cost and Reduced Return; Capital Adequacy;
Reserves on Eurocurrency Rate Loans. (a) Increased Costs Generally. If any Change in Law shall: 

(i)    impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar
requirement against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any reserve requirement contemplated by Section 3.04(d)) or any L/C Issuer; 

(ii)    subject any Lender or any L/C Issuer to any Tax of any kind whatsoever with respect to this Agreement, any Letter
of Credit, any participation in a Letter of Credit or any Loan made by it, or change the basis of taxation of payments to such Lender or such L/C Issuer in respect thereof (except for (i) Indemnified Taxes and (ii) Excluded Taxes); or 

(iii)    impose on any Lender or any L/C Issuer or the London interbank market any other condition, cost or expense
(other than Taxes) affecting this Agreement or Eurocurrency Rate Loans made by such Lender or any Letter of Credit or participation therein; 

and the result of any of the foregoing shall be to increase the cost to such Lender of making or maintaining any Loan the interest on which is
determined by reference to the Eurocurrency Rate (or, in the case of clause (ii) above, any Loan), or of maintaining its obligation to make any such Loan, or to increase the cost to such Lender or such L/C Issuer of
participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit), or to reduce the amount of any sum received or receivable by such Lender or such L/C Issuer
hereunder (whether of principal, interest or any other amount) then, upon request of such Lender or such L/C Issuer, the Borrower will pay to such Lender or such L/C Issuer, as the case may be, such additional amount or amounts as will compensate
such Lender or such L/C Issuer, as the case may be, for such additional costs incurred or reduction suffered, to the extent such compensation is sought by such Lender or L/C Issuer from similarly situated borrowers. 

(b)    Capital Requirements. If any Lender or any L/C Issuer determines in good faith in its reasonable discretion
that any Change in Law affecting such Lender or L/C Issuer or any Lending Office of such Lender or such Lender’s or such L/C Issuer’s holding company, if any, regarding capital or liquidity requirements has or would have the effect of
reducing the rate of return on such Lender’s or such L/C Issuer’s capital or on the capital of such Lender’s or such L/C Issuer’s holding company, if any, as a consequence of this Agreement, the Commitments of such Lender or the
Loans made by, or participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by such L/C Issuer, to a level below that which such Lender or such L/C Issuer or such Lender’s or such L/C Issuer’s holding
company could have achieved but for such Change in Law (taking into consideration such Lender’s or such L/C Issuer’s policies and the policies of such Lender’s or such L/C Issuer’s holding company with respect to capital adequacy
or liquidity), then, to the extent such compensation is sought by such 

  
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Lender or L/C Issuer from similarly situated borrowers, the Borrower, upon request of such Lender or such L/C Issuer, as the case may be, will pay to such Lender or such L/C Issuer such
additional amount or amounts as will compensate such Lender or such L/C Issuer or such Lender’s or such L/C Issuer’s holding company for any such reduction suffered. 

(c)    Certificates for Reimbursement. A certificate of a Lender or an L/C Issuer setting forth the amount or
amounts necessary to compensate such Lender or such L/C Issuer or its holding company, as the case may be, as specified in clause (a) or (b) of this Section and delivered to the Borrower shall be conclusive absent demonstrable
error. The Borrower shall pay such Lender or such L/C Issuer, as the case may be, the amount shown as due on any such certificate within 10 Business Days after receipt thereof. 

(d)    Reserves on Eurocurrency Rate Loans. The Borrower shall pay to each Lender, as long as such Lender shall be
required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each
Eurocurrency Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive absent demonstrable error), which shall be due and payable
on each date on which interest is payable on such Loan; provided the Borrower shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to
give notice 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10 days from receipt of such notice. 

SECTION 3.05.    Funding Losses. Upon demand of any Lender (with a copy to the Administrative Agent) from time to
time, the Borrower shall promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense (other than loss of margin) actually incurred by it as a result of: 

(a)    any continuation, conversion, payment or prepayment of any Eurocurrency Rate Loan of the Borrower on a day other
than the last day of the Interest Period for such Loan; 
 (b)    any failure by the Borrower (for a reason other than
the failure of such Lender to make a Loan) to prepay, borrow, continue or convert any Eurocurrency Rate Loan of the Borrower on the date or in the amount notified by the Borrower; or 

(c)    any assignment of a Eurocurrency Rate Loan on a day other than the last day of the Interest Period therefor as a
result of a request by the Borrower pursuant to Section 10.13; 
 including the excess, if any, of (i) the amount of interest
which would have accrued on the principal amount of such Loan had such event not occurred, at the Eurocurrency Rate that would have been applicable to such Loan, for the period from the date of such event to the last day of the then current Interest
Period therefor (or, in the case of a failure to borrow, convert or continue, for the period that would have been the Interest Period for such Loan), over (ii) the amount of interest which would accrue on such principal amount for such period
at the interest rate which such Lender would bid were it to bid, at the commencement of such period, for deposits in the relevant currency and of a comparable amount and period from other banks in the eurodollar market. 

  
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 SECTION 3.06.    Matters Applicable to All Requests for Compensation.
(a) Except with respect to any requests for compensation or indemnification under Section 3.01 (requests for which shall be governed by Section 3.01(c)), any L/C Issuer or any Lender claiming
compensation under this Article III shall deliver a certificate to the Borrower setting forth the additional amount or amounts to be paid to it hereunder which shall be conclusive in the absence of demonstrable error. In
determining such amount, such L/C Issuer or such Lender may use any reasonable averaging and attribution methods. 

(b)    Failure or delay on the part of any Lender or any L/C Issuer to demand compensation pursuant to
Section 3.01 or 3.04 shall not constitute a waiver of such Lender’s or any L/C Issuer’s right to demand such compensation; provided, that the Borrower shall not be required to compensate such Lender
for any amount incurred more than 180 days prior to the date that such Lender notifies the Borrower of the event that gives rise to such claim; provided that, if the event giving rise to such claim has retroactive effect, then such
180 day period referred to above shall be extended to include the period of retroactive effect thereof. If any Lender requests compensation by the Borrower under Section 3.04, the Borrower may, by notice to such Lender
(with a copy to the Administrative Agent), suspend the obligation of such Lender to make or continue from one Interest Period to another applicable Eurocurrency Rate Loans, or, if applicable, to convert Base Rate Loans into Eurocurrency Rate Loans,
until the event or condition giving rise to such request ceases to be in effect (in which case the provisions of Section 3.06(c) shall be applicable); provided, that such suspension shall not affect the right of such
Lender to receive the compensation so requested and shall not apply to other Lenders. 
 (c)    If the obligation of
any Lender to make or continue any Eurocurrency Rate Loan, or to convert Base Rate Loans into Eurocurrency Rate Loans shall be suspended (i) pursuant to Section 3.06(b) hereof, such Lender’s applicable
Eurocurrency Rate Loans shall be automatically converted into Base Rate Loans on the last day (or days) of the then current Interest Period (or Interest Periods) for such Eurocurrency Rate Loans or (ii) pursuant to
Section 3.02 or 3.06(b) hereof, unless and until such Lender gives notice as provided below that the circumstances specified in Section 3.02 or 3.04 hereof that gave rise to such
conversion no longer exist: 
 (i)    to the extent that such Lender’s Eurocurrency Rate Loans have been converted
to Base Rate Loans, all payments and prepayments of principal that would otherwise be applied to such Lender’s applicable Eurocurrency Rate Loans shall be applied instead to its Base Rate Loans; and 

(ii)    all Loans that would otherwise be made or continued from one Interest Period to another by such Lender as
Eurocurrency Rate Loans shall be made or continued instead as Base Rate Loans, and all Base Rate Loans of such Lender that would otherwise be converted into Eurocurrency Rate Loans shall remain as Base Rate Loans. 

  
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 (d)    If any Lender gives notice to the Borrower (with a copy to the
Administrative Agent) that the circumstances specified in Section 3.02, 3.03 or 3.04 hereof that gave rise to the conversion of any of such Lender’s Eurocurrency Rate Loans pursuant to
Section 3.02 or 3.03 this Section 3.06 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurocurrency Rate Loans made by other
Lenders under the applicable Facility are outstanding, if applicable, such Lender’s Base Rate Loans shall be automatically converted, on the first (1st) day (or days) of the next succeeding Interest Period (or Interest Periods) for such
outstanding Eurocurrency Rate Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding Eurocurrency Rate Loans under such Facility and by such Lender are held pro rata (as to principal
amounts, interest rate basis, and Interest Periods) in accordance with their respective outstanding Loans under the applicable Facility. 

SECTION 3.07.    Replacement of Lenders under Certain Circumstances. (a) Designation of a Different Lending
Office. If any Lender requests compensation under Section 3.04, or the Borrower is required to pay any additional amount to any Lender, any L/C Issuer, or any Governmental Authority for the account of any Lender or any
L/C Issuer pursuant to Section 3.01, or if any Lender gives a notice pursuant to Section 3.02, then such Lender or such L/C Issuer shall, as applicable, use reasonable efforts to designate a
different Lending Office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the reasonable judgment of such Lender or such L/C Issuer, such
designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 3.01 or 3.04, as the case may be, in the future, or eliminate the need for the notice pursuant to
Section 3.02, as applicable, and (ii) in each case, would not subject such Lender or such L/C Issuer, as the case may be, to any unreimbursed cost or expense and would not otherwise be materially disadvantageous to
such Lender or such L/C Issuer, as the case may be. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender or any L/C Issuer in connection with any such designation or assignment. 

(b)    Replacement of Lenders. If any Lender gives a notice under Section 3.02 or
requests compensation under Section 3.04, or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to
Section 3.01, the Borrower may replace such Lender in accordance with Section 10.13. 

SECTION 3.08.    Survival. All of the Borrower’s obligations under this Article III
shall survive termination of the Aggregate Commitments, repayment of all other Obligations hereunder, resignation of the Administrative Agent and any assignment of rights by, or replacement of, a Lender or L/C Issuer. 

ARTICLE IV 
 CONDITIONS PRECEDENT
TO CREDIT EXTENSIONS 
 SECTION 4.01.    Conditions to Initial Effectiveness. The initial effectiveness of this
Agreement is subject to the satisfaction or waiver of the following conditions precedent: 
 (a)    The Administrative
Agent’s receipt of the following: 
 (i)    counterparts of this Agreement executed by a Responsible Officer of
each Loan Party and by each of the other parties to this Agreement; 

  
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 (ii)    (A) the Audited Financial Statements; (B) the Quarterly
Financial Statements (if any); and (C) the Pro Forma Balance Sheet, in each case, which the Administrative Agent shall promptly deliver to any requesting Lender; and 

(iii)    at least three Business Days prior to the execution and delivery of this Agreement, all documentation and other
information required by regulatory authorities with respect to the Loan Parties reasonably requested by the Lenders at least 10 Business Days prior to the execution and delivery of this Agreement under applicable “know your customer” and
anti-money laundering rules and regulations, including the USA Patriot Act, which documentation and other information the Administrative Agent shall promptly deliver to any requesting Lender. 

(b)    All fees required to be paid to the Agents, Syndication Agent, Documentation Agents, Senior Co-Manager, Co-Manager and Arrangers on or before the date of execution and delivery of this Agreement shall have been paid; (ii) all fees required to be paid to the
Lenders on or before the date of execution and delivery of this Agreement shall have been paid; and (iii) all out-of- pocket expenses of the Agents (including the
reasonable fees, charges and disbursements of counsel to the Agents) required to be paid or reimbursed by the Borrower on the date of execution and delivery of this Agreement shall have been paid, to the extent invoiced at least three Business Days
prior to the date of execution and delivery of this Agreement. 
 SECTION 4.02.    Conditions to the Initial Credit
Extensions. The obligation of each L/C Issuer and each Lender to make its initial Credit Extension hereunder is subject to satisfaction or waiver of the conditions set forth in Section 4.01 and the following conditions
precedent: 
 (a)    The Senior Notes shall have been (or, substantially concurrently with the effectiveness of this
Agreement under Section 4.01, shall be) issued and the sum of the aggregate principal amount of the Senior Notes and the Term Commitments shall not be less than $1,400,000,000. 

(b)    The IPC Purchase or IPC Note Repayment shall have occurred or shall occur, or be completed, as applicable,
substantially simultaneously with the funding of the Term Loans. 
 (c)    The Administrative Agent’s receipt of
the following, each properly executed by a Responsible Officer of the signing Loan Party (in the case of items required to be executed on behalf of a Loan Party), each dated the Closing Date or, in the case of certificates of governmental officials,
a recent date before the Closing Date (in the case of items referred to in clause (i), (ii)(D), (iii), (iv), (v), (vi) and (vii)) and each in form and substance reasonably
satisfactory to the Administrative Agent: 
 (i)    a Note executed by the Borrower in favor of each Lender that shall
have requested a Note not less than three Business Days prior to the Closing Date; 

  
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 (ii)    a security agreement, in substantially the form of Exhibit E
hereto (together with each security agreement supplement delivered pursuant to Section 6.11, in each case as amended, the “Security Agreement”), duly executed by each Loan Party, together with: 

(A)    certificates and instruments representing the applicable Collateral referred to therein (to the
extent required by the terms of the Security Agreement to be delivered to the Collateral Agent) accompanied by undated stock powers or instruments of transfer executed in blank; 

(B)    financing statements in form appropriate for filing under the Uniform Commercial Code of all
jurisdictions that the Administrative Agent may deem necessary or desirable in order to perfect the Liens created under the Security Agreement, covering the Collateral described in the Security Agreement; 

(C)    copies of such lien searches, or equivalent reports or searches, each of a recent date listing all
effective financing statements, lien notices or comparable documents (together with copies of such financing statements and documents) with respect to the Loan Parties that the Administrative Agent reasonably deems necessary or appropriate, none of
which shall disclose Liens on the Collateral covered or intended to be covered by the Collateral Documents (other than Permitted Liens), it being understood that such searches shall be conducted by the Administrative Agent or its counsel, and the
Borrower shall not be required to conduct such searches; 
 (D)    a Perfection Certificate duly
executed by the Borrower; and 
 (E)    a Copyright Security Agreement, Patent Security Agreement and
Trademark Security Agreement (as each such term is defined in the Security Agreement) (together with each other intellectual property security agreement delivered pursuant to Section 6.11, in each case as amended or
supplemented, the “Intellectual Property Security Agreements”), duly executed by each applicable Loan Party; 

(iii)    such certifications of resolutions or other action and incumbency certificates of Responsible Officers of each
Loan Party as the Administrative Agent may reasonably require evidencing the identity, authority and capacity of each Responsible Officer authorized to act as a Responsible Officer in connection with this Agreement and the other Loan Documents to
which such Loan Party is a party or is to be a party; 
 (iv)    such documents and certifications as the
Administrative Agent may reasonably require to evidence that each Loan Party is duly organized or formed; 

(v)    favorable opinions of (A) each of Cravath, Swaine & Moore LLP, in the form of Exhibit I
hereto and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo PC, in the form of Exhibit J hereto, counsel to the Loan Parties and (B) the general counsel of the Borrower, in a form reasonably satisfactory to the Administrative Agent, in each
case addressed to the Administrative Agent and each Lender; 

  
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 (vi)    a certificate signed by a Responsible Officer of the Borrower
certifying that the conditions specified in Sections 4.03(a) and (b) have been satisfied; 

(vii)    a certificate attesting to the Solvency of the Borrower and its Subsidiaries on a combined basis after giving
effect to the Transactions, from the Borrower’s chief financial officer, substantially in the form of Exhibit H hereto; and 

(viii)    at least three Business Days prior to the Closing Date, all documentation and other information required by
regulatory authorities with respect to the Loan Parties reasonably requested by the Lenders at least 10 Business Days prior to the Closing Date under applicable “know your customer” and anti-money laundering rules and regulations,
including the USA Patriot Act, which documentation and other information the Administrative Agent shall promptly deliver to any requesting Lender. 

(d)    (i) All fees required to be paid to the Agents, Syndication Agent, Documentation Agents, Senior Co-Manager, Co-Manager and Arrangers on or before the Closing Date shall have been (or, substantially concurrently with the funding of the Term Loans, shall be) paid;
(ii) all fees required to be paid to the Lenders on or before the Closing Date shall have been (or, substantially concurrently with the funding of the Term Loans, shall be) paid (which fees, in the case of those due to the Term Lenders, may be
paid by offset against the proceeds of the Term Loans, to the extent arrangements therefor, satisfactory to the Borrower and the Administrative Agent, have been made); and (iii) all out-of- pocket expenses of the Agents (including the reasonable fees, charges and disbursements of counsel to the Agents) required to be paid or reimbursed by the Borrower on the Closing Date shall have been
(or, substantially concurrently with the funding of the Term Loans, shall be) paid, to the extent invoiced at least three Business Days prior to the Closing Date. 

Notwithstanding the foregoing, (x) if the conditions in clauses (a) through (d) of this
Section 4.02 have not been satisfied (or waived in accordance with Section 10.01) on or prior to June 30, 2014, the Commitments of the Lenders hereunder shall terminate at 5:00 p.m. New York
City time on June 30, 2014, and (y) any item to be delivered or action to be taken that is listed on Schedule 6.13(a) shall not be required to be delivered or taken in order for the above conditions to be
satisfied. 
 SECTION 4.03.    Conditions to All Credit Extensions. The obligation of each Lender to honor any
Request for Credit Extension (other than a Committed Loan Notice requesting only a conversion of Loans to the other Type, or a continuation of Eurocurrency Rate Loans) is subject to the following conditions precedent: 

(a)    The representations and warranties of each Loan Party contained in Article V or any other Loan
Document shall be true and correct in all material respects on and as of the date of such Credit Extension (except to the extent that such representations and warranties specifically refer to an earlier date, they shall be true and correct in all
material respects as of such earlier date); provided, that, to the extent that such representations and warranties are qualified by materiality, material adverse effect or similar language, they shall be true and correct in all respects. 

  
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 (b)    No Default or Event of Default shall exist or would result from such
proposed Credit Extension or from the application of the proceeds therefrom. 
 (c)    The Administrative Agent and, if
applicable, the relevant L/C Issuer shall have received a Request for Credit Extension in accordance with the requirements hereof. 
 Each Request for
Credit Extension (other than a Committed Loan Notice requesting only a conversion of Loans to the other Type, or a continuation of Eurocurrency Rate Loans) submitted by the Borrower shall be deemed to be a representation and warranty that the
conditions specified in Sections 4.03(a) and (b) have been satisfied on and as of the date of the applicable Credit Extension. Notwithstanding anything to the contrary in this Section 4.03
or in Section 2.13, so long as no Event of Default has occurred pursuant to Section 8.01(a) or (f), the lenders providing any Incremental Term Loans in connection with a Permitted
Acquisition may agree to modify the conditionality with respect to such Incremental Term Loans such that the Permitted Acquisition may be consummated on a “certain funds” basis. 

ARTICLE V 
 REPRESENTATIONS AND
WARRANTIES 
 Each Loan Party represents and warrants to the Agents and Lenders that: 

SECTION 5.01.    Existence, Qualification and Power; Compliance with Laws. Each Loan Party (a) is a Person
(i) duly organized or formed, (ii) validly existing and (iii) in good standing (where relevant) under the Laws of the jurisdiction of its incorporation or organization, (b) has all requisite power and authority to (i) own or
lease its assets and carry on its business as currently conducted and (ii) execute, deliver and perform its obligations under the Loan Documents to which it is a party, (c) is duly qualified and in good standing (where relevant) under the
Laws of each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification, (d) is in compliance with all Laws, orders, writs and injunctions and (e) has all requisite
governmental licenses, authorizations, consents and approvals to operate its business as currently conducted; except in each case referred to in clause (a)(iii), (b)(i), (c), (d) or (e), to the extent that failure to do
so would not reasonably be expected to have a Material Adverse Effect. 
 SECTION 5.02.    Authorization; No
Contravention. The execution, delivery and performance by each Loan Party of each Loan Document to which such Person is a party, and the consummation of the Closing Date Transactions and the First Amendment Effective Date Transactions,
(a) are within such Loan Party’s corporate or other powers, (b) have been duly authorized by all necessary corporate or other organizational action and (c) do not and will not (i) contravene the terms of any of such
Person’s Organization Documents; (ii) conflict with or result in any breach or contravention of, or the creation of any Lien under (other than as permitted by Section 7.01) (x) any material order, injunction, writ
or decree of any Governmental Authority or any arbitral award to which such Person or its property is subject or (y) any material agreement to which such Person is a party; or (iii) violate any material Law; except with respect to any
conflict, breach, violation or contravention referred to in clause (ii) or (iii), to the extent that such conflict, breach, violation or contravention would not reasonably be expected to have a Material Adverse Effect. 

  
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 SECTION 5.03.    Governmental Authorization; Other Consents. No
material approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority is necessary or required in connection with (a) the execution, delivery or performance by any Loan Party of this
Agreement or any other Loan Document, or for the consummation of the Closing Date Transactions or the First Amendment Effective Date Transactions, (b) the grant by any Loan Party of the Liens granted by it pursuant to the Collateral Documents,
or (c) the perfection or maintenance of the Liens created under the Collateral Documents (including the priority thereof), except for (i) filings and registrations necessary to perfect the Liens on the Collateral granted by the Loan
Parties in favor of the Collateral Agent, (ii) those approvals, consents, exemptions, authorizations, actions, notices and filings which have been duly obtained, taken, given or made and are in full force and effect (or, with respect to
consummation of the Transactions, will be duly obtained, taken, given or made and will be in full force and effect, in each case within the time period required to be so obtained, taken, given or made) and (iii) those approvals, consents,
exemptions, authorizations or other actions, notices or filings, the failure of which to obtain or make would not reasonably be expected to have a Material Adverse Effect. 

SECTION 5.04.    Binding Effect. This Agreement and each other Loan Document has been duly executed and delivered
by each Loan Party that is a party thereto. This Agreement and each other Loan Document constitutes, a legal, valid and binding obligation of such Loan Party, enforceable against each Loan Party that is a party thereto in accordance with its terms,
except as such enforceability may be limited by (a) Debtor Relief Laws and by general principles of equity and (b) the need for filings and registrations necessary to perfect the Liens on the Collateral granted by the Loan Parties in favor
of the Collateral Agent. Prior to the Closing Date, the representation in this Section 5.04 does not apply to any Loan Document (other than this Agreement). 

SECTION 5.05.    Financial Statements; No Material Adverse Effect. (a) The Audited Financial Statements and
the Quarterly Financial Statements (if any) fairly present in all material respects the financial condition of the Borrower and its Subsidiaries as of the dates thereof and their results of operations for the period covered thereby in accordance
with GAAP consistently applied throughout the periods covered thereby, (i) except as otherwise expressly noted therein and (ii) subject, in the case of any Quarterly Financial Statements, to changes resulting from normal year-end adjustments and the absence of footnotes. 
 (b)    Since December 31,
2016 (after giving pro forma effect to the First Amendment Effective Date Transactions), there has been no event or circumstance, either individually or in the aggregate, that has had or would reasonably be expected to have a Material Adverse
Effect. 
 SECTION 5.06.    Litigation. Except as disclosed in Schedule 5.06 or to the
extent disclosed in the Borrower’s filings with the SEC as of the First Amendment Effective Date, there are no actions, suits or proceedings pending or, to the knowledge of the Borrower, threatened in writing or contemplated, at law, in equity,
in arbitration or before any 

  
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Governmental Authority, by or against any Loan Party or any of its Restricted Subsidiaries or against any of their properties or revenues that, either individually or in the aggregate, would
reasonably be expected to have a Material Adverse Effect. 
 SECTION 5.07.    Ownership of Property; Liens. Each
Loan Party and each of its Restricted Subsidiaries has good record title to, or valid leasehold interests in, or easements or other limited property interests in, all tangible properties, equipment and Real Property necessary in the ordinary conduct
of its business, free and clear of all Liens except (i) as set forth on Schedule 5.07, (ii) minor defects in title that do not materially interfere with its ability to conduct its business or to utilize such assets for their intended
purposes, (iii) Liens permitted by Section 7.01 and (iv) where the failure to do so would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. 

SECTION 5.08.    Environmental Compliance. (a) Except as disclosed in
Schedule 5.08, there are no claims, actions, suits, or proceedings pending against the Borrower or any of its Subsidiaries alleging liability or responsibility for violation of, or otherwise relating to, any Environmental
Law that would, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(b)    Except as disclosed in Schedule 5.08 or except as would not reasonably be expected to
have, individually or in the aggregate, a Material Adverse Effect, (i) none of the properties currently, or to the knowledge of the Borrower, formerly, owned, leased or operated by any Loan Party or any of its Subsidiaries is listed or proposed
for listing on the NPL or on the CERCLIS or any analogous foreign, state or local list or is adjacent to any such property; (ii) there are no underground or aboveground storage tanks or any surface impoundments, septic tanks, pits, sumps or
lagoons in which Hazardous Materials are being or have been treated, stored or disposed on any property currently owned, leased or operated by any Loan Party or any of its Subsidiaries or, to the knowledge of the Borrower, on any property formerly
owned or operated by any Loan Party or any of its Subsidiaries; (iii) there is no asbestos or asbestos-containing material on any property currently owned or operated by any Loan Party or any of its Subsidiaries; and (iv) Hazardous
Materials have not been released, discharged or disposed of by any Person on any property currently, or to the knowledge of the Borrower, formerly, owned, leased or operated by any Loan Party or any of its Subsidiaries and Hazardous Materials have
not otherwise been released, discharged or disposed of by any Loan Party or any of its Subsidiaries at any other location. 

(c)    Except as disclosed in Schedule 5.08, the properties owned, leased or operated by the
Loan Parties and their Subsidiaries do not contain any Hazardous Materials in amounts or concentrations which (i) constitute a violation of; (ii) require remedial action under; or (iii) could give rise to liability under,
Environmental Laws, which violations, remedial actions and liabilities, individually or in the aggregate, would reasonably be expected to result in a Material Adverse Effect. 

(d)    Except as disclosed in Schedule 5.08, all Hazardous Materials generated, used, treated,
handled or stored at, or transported to or from, any property currently or formerly owned or operated by any Loan Party or any of its Subsidiaries have been disposed of in a manner that would not reasonably be expected to result, individually or in
the aggregate, in a Material Adverse Effect. 

  
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 (e)    Except as disclosed in Schedule 5.08,
except as would not reasonably be expected to result, individually or in the aggregate, in a Material Adverse Effect, none of the Loan Parties or any of their Subsidiaries has contractually assumed any liability or obligation under or relating to
any Environmental Law. 
 SECTION 5.09.    Taxes. Except as would not reasonably be expected to result,
individually or in the aggregate, in a Material Adverse Effect, each of the Loan Parties and each of their Subsidiaries has filed all Tax returns required to be filed, and has paid all Taxes required to be paid by it, that are due and payable,
except those Taxes which are being contested in good faith by appropriate proceedings diligently conducted and for which adequate reserves have been made to the extent required by GAAP. 

SECTION 5.10.    ERISA Compliance. (a) Except as would not, either individually or in the aggregate,
reasonably be expected to result in a Material Adverse Effect, each Plan is in compliance with the applicable provisions of ERISA, the Code and other Federal or state Laws. 

(b)    (i) No ERISA Event has occurred or is reasonably expected to occur with respect to any Pension Plan or
Multiemployer Plan; and (ii) neither any Loan Party nor any ERISA Affiliate has engaged in a transaction that would reasonably be expected to be subject to Sections 4069 or 4212(c) of ERISA, except, with respect to each of the foregoing clauses
of this Section 5.10(b), as would not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect. 

(c)    The Foreign Plans of the Loan Parties and the Subsidiaries are in compliance with the requirements of any Law
applicable in the jurisdiction in which the relevant Foreign Plan is maintained, in each case, except as would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. 

SECTION 5.11.    Restricted Subsidiaries; Equity Interests. As of the Closing Date (after giving effect to the
Transactions), the Borrower does not have any Restricted Subsidiaries other than those disclosed in Schedule 5.11, and all of the outstanding Equity Interests owned by a Loan Party in such Restricted Subsidiaries are owned
free and clear of all Liens except (a) those created under the Collateral Documents; and (b) any Lien that is permitted under Section 7.01. 

SECTION 5.12.    Margin Regulations; Investment Company Act. (a) No Loan Party is engaged in, nor will it
engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U issued by the FRB (“Margin Stock”)), or extending credit for the purpose of
purchasing or carrying Margin Stock, and no proceeds of any Borrowings or drawings under any Letter of Credit will be used for the purpose of purchasing or carrying Margin Stock (other than purchases by the Borrower of its Capital Stock) or any
purpose that violates Regulation U. 

  
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 (b)    None of the Loan Parties or any of the Subsidiaries of the Loan
Parties is or is required to be registered as an “investment company” under the Investment Company Act of 1940. 
 SECTION
5.13.    Disclosure. The reports, financial statements, certificates and other written factual information and factual data relating to the Borrower, its Subsidiaries and the Transactions (other than as set forth below and
other than information of a general economic or industry nature) furnished by or on behalf of any Loan Party to any Agent or any Lender in connection with the Transactions and the negotiation of this Agreement or delivered hereunder or under any
other Loan Document, when taken as a whole, do not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein not materially misleading in the light of the circumstances under
which they were made; provided, that, with respect to projected financial information and pro forma financial information, the Borrower represents only that such information was prepared in good faith based upon assumptions that were
believed by the Borrower to be reasonable at the time made and at the time furnished hereunder; it being understood that (i) such projected and pro forma financial information (A) is merely a prediction as to future events (in the
case of projected financial information) and is not to be viewed as fact and (B) is subject to significant uncertainties and contingencies, many of which are beyond the Borrower’s control, (ii) no assurance can be given that any
particular projections will be realized and (iii) actual results may differ and such differences may be material. 
 SECTION
5.14.    Sanctions, OFAC and Patriot Act. (a) None of the Borrower, any of its Subsidiaries, or any of the Borrower’s directors or officers, nor, to the knowledge of the Borrower, any of its employees and agents
or any directors, officers, employees and agents of any of its Subsidiaries, is a Sanctioned Person. The Borrower, its Subsidiaries, the Borrower’s directors and officers and, to the knowledge of the Borrower, its employees and agents and the
directors, officers, employees and agents of the Borrower’s Subsidiaries are in compliance with applicable Sanctions in all material respects. 

(b)    The Borrower and each of its Subsidiaries is in compliance in all material respects with the United and
Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Public Law 107-56 (the “USA Patriot Act”) and OFAC. 

(c)    The Borrower, its Subsidiaries, the Borrower’s directors and officers and, to the knowledge of the Borrower,
its employees and agents and the directors, officers, employees and agents of the Borrower’s Subsidiaries, as of the First Amendment Effective Date, have conducted their business in compliance with, and the Borrower and its Subsidiaries have
instituted and maintain policies and procedures designed to ensure compliance with, the FCPA, the United Kingdom Bribery Act of 2010 and applicable Sanctions. 

SECTION 5.15.    Intellectual Property; Licenses, Etc. Each of the Loan Parties and their Restricted Subsidiaries
owns, licenses or possesses the right to use, all of the trademarks, service marks, trade names, domain names, social media identifiers, source and business indicators, copyrights, patents, patent rights, technology, software, know-how database rights, design rights, trade secrets and all other intellectual property rights (collectively, “IP Rights”) 

  
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that are used or held for use in connection with and reasonably necessary for the operation of their respective businesses as currently conducted, except where the failure to so own, license or
possess the right to use any such IP Rights would not reasonably be expected to have a Material Adverse Effect. All registered, proprietary IP Rights are subsisting and unexpired, and to the Loan Parties’ knowledge, are valid and enforceable,
in each case except to the extent the failure to be so subsisting or unexpired or to be valid and enforceable would not reasonably be expected to have a Material Adverse Effect. No IP Rights and, to the Loan Parties’ knowledge, no advertising,
product, process, method, substance, part or other material, in each case used by any Loan Party or any of its Restricted Subsidiaries in the operation of their respective businesses as currently conducted infringes upon any rights held by any other
Person except for such infringements, individually or in the aggregate, which would not reasonably be expected to have a Material Adverse Effect. No claim or litigation regarding any of the IP Rights, is pending or, to the knowledge of the Borrower,
threatened against any Loan Party or any of its Subsidiaries, which, either individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. 

SECTION 5.16.    Solvency. On the Closing Date, after giving effect to the Transactions, the Borrower and its
Subsidiaries, on a consolidated basis taken as a whole, are Solvent. 
 SECTION 5.17.    Security Documents.
(a) Security Agreement. The Collateral Documents are effective to create in favor of the Collateral Agent, for the benefit of the Secured Parties, legal, valid and enforceable Liens on, and security interests in, the Collateral described
therein to the extent intended to be created thereby and (i) when financing statements and other filings in appropriate form are filed in the appropriate filing offices and (ii) upon the taking of possession or control by the Collateral
Agent of such Collateral with respect to which a security interest may be perfected only by possession or control (which possession or control shall be given to the Collateral Agent to the extent required by the Security Agreement or the
Intercreditor Agreement (if in effect)), the Liens created by the Collateral Documents shall constitute fully perfected Liens on, and security interests in (to the extent intended to be created thereby), all right, title and interest of the grantors
in such Collateral to the extent perfection can be obtained by filing financing statements or taking possession or control, in each case subject to no Liens other than Liens permitted hereunder. The representation in this
Section 5.17(a) does not apply prior to the Closing Date. 
 (b)    PTO Filing; Copyright
Office Filing. In addition to the actions taken pursuant to Section 5.17(a)(i), when the Security Agreement or a short form thereof (including any Intellectual Property Security Agreement) is properly filed in the
United States Patent and Trademark Office and the United States Copyright Office, the Liens created by such Security Agreement (or Intellectual Property Security Agreement) shall constitute fully perfected Liens on, and security interests in, all
right, title and interest of the grantors (to the extent intended to be created thereby) in Patents and Trademarks (in each case, as defined in the Security Agreement) registered or applied for with the United States Patent and Trademark Office and
Copyrights (as defined in the Security Agreement) registered or applied for with the United States Copyright Office, as the case may be, in each case subject to no Liens other than Liens permitted hereunder (it being understood that subsequent
recordings in the United States Patent and Trademark Office and the United States Copyright Office may be necessary to perfect a Lien on registered or applied-for Trademarks, Patents and Copyrights acquired by
the grantors thereof after the Closing Date). 

  
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 (c)    Notwithstanding anything herein (including this
Section 5.17) or in any other Loan Document to the contrary, neither the Borrower nor any other Loan Party makes any representation or warranty as to the effects of perfection or
non-perfection, the priority or the enforceability of any pledge of or security interest in any Equity Interests of any Foreign Subsidiary, or as to the rights and remedies of the Agents or any Lender with
respect thereto, under foreign Law. 
 ARTICLE VI 

AFFIRMATIVE COVENANTS 
 So long
as any Lender shall have any Commitment hereunder, any Loan or other Obligation hereunder which is accrued and payable remains unpaid or unsatisfied, or any Letter of Credit shall remain outstanding (and not Cash Collateralized), each of the Loan
Parties shall, and shall cause each of their Restricted Subsidiaries to: 
 SECTION 6.01.    Financial
Statements. (a) Deliver to the Administrative Agent for prompt further distribution to each Lender within 90 days after the end of each fiscal year of the Borrower (or, with respect to fiscal year 2014, within 95 days after the
end of such fiscal year) beginning with the 2014 fiscal year, a consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such fiscal year, and the related consolidated statements of income or operations, stockholders’
equity and cash flows for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail and prepared in accordance with GAAP, audited and accompanied by a report and opinion of
Ernst & Young or any other independent registered public accounting firm of nationally recognized standing, which report and opinion shall be prepared in accordance with generally accepted auditing standards and shall not be subject to any
“going concern” or like qualification or exception or any qualification or exception as to the scope of such audit (other than any qualification or exception that is solely with respect to, or resulting solely from, (i) an upcoming
maturity date of any Indebtedness or (ii) any potential inability to satisfy a financial maintenance covenant on a future date or in a future period) (an “Accounting Opinion”); and 

(b)    Deliver to the Administrative Agent for prompt further distribution to each Lender within 45 days after the
end of each of the first three fiscal quarters of each fiscal year of the Borrower (or, with respect to fiscal year 2014, within 45 days after the Form 10 is declared effective by the SEC with respect to the first fiscal quarter and within 50
days after the end of the second and third fiscal quarter), a consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such fiscal quarter and the related (i) consolidated statements of income or operations for such
fiscal quarter and for the portion of the fiscal year then ended, and (ii) consolidated statements of cash flows for the portion of the fiscal year then ended, setting forth in each case in comparative form the figures for the corresponding
fiscal quarter of the previous fiscal year and the corresponding portion of the previous fiscal year, all in reasonable detail and certified by a Responsible Officer of the Borrower as fairly presenting in all material respects the financial
condition, results of operations and cash flows of the Borrower and its Subsidiaries in accordance with GAAP, subject only to normal year-end audit adjustments and the absence of footnotes. 

  
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 Notwithstanding the foregoing, the obligations in clauses (a) and
(b) of this Section 6.01 may be satisfied with respect to financial information of the Borrower and its Subsidiaries by furnishing the Borrower’s Form 10-K or 10-Q, as applicable, filed with the SEC; provided, that, to the extent such information is in lieu of information required to be provided under Section 6.01(a), such materials are
accompanied by an Accounting Opinion. 
 Documents required to be delivered pursuant to Section 6.01 and
Sections 6.02(b) and (c) may be delivered electronically and, if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower posts such documents, or provides a link thereto,
at the website address listed on Schedule 10.02; or (ii) on which such documents are posted on the Borrower’s behalf on IntraLinks/IntraAgency or another relevant website (including without limitation the EDGAR
website of the SEC), if any, to which each Lender and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative Agent). 

SECTION 6.02.    Certificates; Other Information. Deliver to the Administrative Agent for prompt further
distribution to each Lender: 
 (a)    no later than five Business Days after the delivery of the financial statements
referred to in Section 6.01(a) and (b), a duly completed Compliance Certificate signed by a Responsible Officer of the Borrower; 

(b)    promptly after the same are publicly available, copies of all annual, regular, periodic and special reports and
registration statements which the Borrower or any Subsidiary files with the SEC or with any Governmental Authority that may be substituted therefor (other than amendments to any registration statement (to the extent such registration statement, in
the form it became effective, is delivered), exhibits to any registration statement and, if applicable, any registration statement on Form S-8) and in any case not otherwise required to be delivered to the
Administrative Agent pursuant hereto; 
 (c)    together with the delivery of each Compliance Certificate pursuant to
Section 6.02(a) (but only together with the delivery of a Compliance Certificate in connection with financial statements delivered pursuant to Section 6.01(a)), (i) a report setting forth the
information required by a Perfection Certificate Supplement or confirming that there has been no change in such information since the Closing Date or the date of the last such report (provided that no such Perfection Certificate Supplement or
confirmation shall be required in connection with the Compliance Certificate to be delivered for the financial statements relating to the fiscal year ended December 31, 2014) and (ii) a list of the Subsidiaries of the Borrower that
identifies each Subsidiary as a Restricted or an Unrestricted Subsidiary as of the date of delivery of such Compliance Certificate or a statement confirming that there has been no change in such information since the Closing Date or the date of the
last such list; 

  
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 (d)    promptly following completion thereof and in any event within 90 days
following the end of fiscal year 2014 and, thereafter, 75 days following the end of each fiscal year, a consolidated annual budget for such fiscal year; and 

(e)    promptly, such additional information regarding the business, legal, financial or corporate affairs of the Loan
Parties or any of their respective Subsidiaries, or compliance with the terms of the Loan Documents, as the Administrative Agent or any Lender through the Administrative Agent may from time to time reasonably request. 

The Loan Parties hereby acknowledge that (a) the Administrative Agent will make available to the Lenders and the L/C Issuers materials
and/or information provided by or on behalf of the Borrower hereunder (collectively, “Borrower Materials”) by posting the Borrower Materials on IntraLinks or another similar electronic system (the “Platform”) and
(b) certain of the Lenders (each, a “Public Lender”) may have personnel who do not wish to receive material non-public information with respect to the Borrower or its Affiliates, or the
respective securities of any of the foregoing, and who may be engaged in investment and other market-related activities with respect to such Persons’ securities. The Loan Parties hereby agree that so long as the Borrower is the issuer of any
outstanding debt or equity securities that are registered or issued pursuant to a private offering or is actively contemplating issuing any such securities it will use commercially reasonable efforts to identify that portion of the Borrower
Materials that may be distributed to the Public Lenders and that (i) all such Borrower Materials shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear
prominently on the first page thereof; (i) by marking Borrower Materials “PUBLIC,” the Borrower shall be deemed to have authorized the Agents, the L/C Issuers and the Lenders to treat such Borrower Materials as not containing any
material non-public information (although it may be sensitive and proprietary) with respect to the Borrower or its securities for purposes of United States Federal and state securities laws (provided,
however, that to the extent such Borrower Materials constitute Information, they shall be treated as set forth in Section 10.07); (ii) all Borrower Materials marked “PUBLIC” are permitted to be made available
through a portion of the Platform designated “Public Side Information;” and (iii) the Administrative Agent shall be entitled to treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on
a portion of the Platform not designated “Public Side Information.” Notwithstanding the foregoing, the Borrower shall be under no obligation to mark any Borrower Materials “PUBLIC”. 

SECTION 6.03.    Notices. Promptly after a Responsible Officer of the Borrower has obtained knowledge thereof,
notify the Administrative Agent: 
 (a)    of the occurrence of any Default; 

(b)    of the occurrence of any ERISA Event; and 

(c)    of any matter (including in regard to any court suit or action) that has resulted or would reasonably be expected
to result in a Material Adverse Effect. 
 Each notice pursuant to this Section shall be accompanied by a written statement of a Responsible Officer of the
Borrower setting forth details of the occurrence referred to therein and stating what action the Loan Parties have taken and propose to take with respect thereto and shall be made available to the Lenders by the Administrative Agent. 

  
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 SECTION 6.04.    Payment of Taxes. Pay, discharge or otherwise
satisfy as the same shall become due and payable, all its obligations and liabilities in respect of Taxes imposed upon it (including in its capacity as withholding agent) or upon its income or profits or in respect of its property, except, in each
case, (a) to the extent the failure to pay or discharge the same would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, or (b) which are being contested in good faith by appropriate
proceedings diligently conducted and for which adequate reserves have been made to the extent required by GAAP. 
 SECTION
6.05.    Preservation of Existence, Etc. (a) Preserve, renew and maintain in full force and effect its legal existence under the Laws of the jurisdiction of its organization except in a transaction permitted by
Section 7.03 or 7.04 and (b) take all reasonable action to maintain all rights, privileges (including its good standing where applicable in the relevant jurisdiction), permits, licenses and franchises necessary
or desirable in the normal conduct of its business, except (i) to the extent that failure to do so would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect or (ii) pursuant to a transaction
permitted by Section 7.03 or 7.04 . 
 SECTION 6.06.    Maintenance of
Properties. Except if the failure to do so would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, (a) maintain, preserve and protect all of its material tangible properties and equipment
necessary in the operation of its business in good working order, repair and condition, ordinary wear and tear excepted and casualty or condemnation excepted, and (b) make all necessary renewals, replacements, modifications, improvements,
upgrades, extensions and additions thereof or thereto in accordance with prudent industry practice and in the normal conduct of its business. 

SECTION 6.07.    Maintenance of Insurance. Maintain with financially sound and reputable insurance companies,
insurance with respect to its properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar business, of such types and in such amounts (after giving effect to any self-insurance
reasonable and customary for similarly situated Persons engaged in the same or similar businesses as the Borrower and the Restricted Subsidiaries) as are customarily carried under similar circumstances by such other Persons. Subject to
Section 6.13(a), (a) all such liability insurance policies of the Loan Parties (other than workers’ compensation, officer and director liability or other policies as to which endorsements are not customary) shall name
the Collateral Agent as additional insured, and (b) in the case of each casualty insurance policy that insures any Collateral, such policy shall contain a loss payable clause or endorsement that names the Collateral Agent as loss payee. With
respect to each parcel of Real Property constituting Collateral that is subject to a Mortgage, obtain flood insurance from financially sound and reputable insurance companies or through the National Flood Insurance Program in such total amount (not
exceeding the lesser of (i) the fair market value of the property and (ii) the maximum amount available under a policy issued through the National Flood Insurance Program) as the Administrative Agent or the Required Lenders may from time
to time reasonably require, if at any time the area in which any improvements on such Real Property are located is designated a “flood hazard area” in any Flood Insurance Rate Map published by the

  
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Federal Emergency Management Agency (or any successor agency), and otherwise comply with the National Flood Insurance Program as set forth in the Flood Disaster Protection Act of 1973, as amended
from time to time. 
 SECTION 6.08.    Compliance with Laws. Comply in all material respects with the
requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its business or property, except if the failure to comply therewith would not reasonably be expected to have, individually or in the aggregate, a Material
Adverse Effect. 
 SECTION 6.09.    Books and Records. Maintain proper books of record and account, in which
entries are full, true and correct in all material respects and are in conformity with GAAP consistently applied in all material respects and which reflect all material financial transactions and matters involving the business of the Loan Parties or
a Restricted Subsidiary, as the case may be. 
 SECTION 6.10.    Inspection Rights. Permit representatives and
agents of the Administrative Agent and each Lender to visit and inspect any of its properties, to examine its corporate, financial and operating records, and make copies thereof or abstracts therefrom, and to discuss its affairs, finances and
accounts with its senior officers, and independent public accountants, all at reasonable times during normal business hours, upon reasonable advance notice to the Borrower; provided, however, (a) unless an Event of Default exists, only
the Administrative Agent on behalf of the Lenders may exercise the rights under this Section 6.10 and the Administrative Agent shall not exercise such rights more often than two times during any calendar year, (b) if
an Event of Default exists and an individual Lender elects to exercise rights under this Section 6.10, (x) such Lender shall coordinate with the Administrative Agent and any other Lender electing to exercise such rights and
shall share the results of such inspection with the Administrative Agent on behalf of the Lenders and (y) the number of visits and expense associated with such individual Lender inspections must be reasonable, and (c) the Borrower shall
have the opportunity to participate in any discussions with the Borrower’s independent public accountants. 
 SECTION
6.11.    Additional Collateral; Additional Guarantors. (a) Subject to this Section 6.11 and Section 6.13(b), with respect to any property acquired after the Closing
Date by any Loan Party that is intended to be subject to the Lien created by any of the Collateral Documents but is not so subject, promptly (and in any event within 30 days after the acquisition thereof (or, with respect to intellectual
property, in any event on a quarterly basis) (or, in each case, such later date as the Administrative Agent may agree)) (i) execute and deliver to the Administrative Agent and the Collateral Agent such amendments or supplements to the relevant
Collateral Documents or such other documents as the Administrative Agent or the Collateral Agent shall reasonably request to grant to the Collateral Agent, for its benefit and for the benefit of the other Secured Parties, a Lien on such property
subject to no Liens other than Liens permitted hereunder; and (ii) take all actions reasonably necessary or advisable to cause such Lien to be duly perfected within the United States to the extent required by such Collateral Document in
accordance with all applicable Law, including the filing of financing statements in such jurisdictions within the United States as may be reasonably requested by the Administrative Agent. The Borrower shall otherwise take such actions and execute
and/or deliver to the Collateral Agent such documents as the Administrative Agent or the Collateral Agent shall reasonably require to confirm the validity, perfection and priority of the Lien of the Collateral Documents on such after-acquired
properties to the extent required by the Collateral Documents. 

  
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 (b)    With respect to any Person that is or becomes a Restricted Subsidiary
directly owned by a Loan Party after the Closing Date or if any Restricted Subsidiary that was an Excluded Subsidiary ceases to be an Excluded Subsidiary, promptly (and in any event within 30 days after the date such Person becomes a Restricted
Subsidiary or the date the Borrower delivers to the Administrative Agent financial statements by which it is determined that such Restricted Subsidiary ceased to be an Excluded Subsidiary (or such later date as the Administrative Agent may agree))
(i) deliver to the Collateral Agent the certificates, if any, representing all of the Equity Interests of such Restricted Subsidiary owned by such Loan Party, together with undated stock powers or other appropriate instruments of transfer executed
and delivered in blank by a duly authorized officer of the holder (or holders) of such Equity Interests, and all written intercompany notes, if any, representing Indebtedness owing from such Subsidiary to any Loan Party together with instruments of
transfer executed and delivered in blank by a duly authorized officer of such Loan Party (in each case, with respect to Foreign Subsidiaries, to the extent applicable and permitted under foreign laws, rules or regulations) or, if necessary to
perfect a Lien under applicable Law, by means of an applicable Collateral Document, to create a Lien on such Equity Interests and intercompany notes in favor of the Collateral Agent on behalf of the Secured Parties and (ii) cause any such
Restricted Subsidiary (A) to execute a joinder agreement reasonably acceptable to the Administrative Agent or such comparable documentation to become a Subsidiary Guarantor and a joinder agreement to the applicable Collateral Documents
(including the Security Agreement), substantially in the form annexed thereto, and (B) to take all other actions reasonably requested by the Administrative Agent or the Collateral Agent to cause the Lien created by the applicable Collateral
Documents (including the Security Agreement) to be duly perfected within the United States to the extent required by such agreement in accordance with all applicable Law, including the filing of financing statements in such jurisdictions within the
United States as may be reasonably requested by the Administrative Agent or the Collateral Agent. Notwithstanding the foregoing, (1) compliance with clause (i) of this Section 6.11(b) shall be required only
to the extent required by the terms of the Security Agreement, (2) no Excluded Subsidiary shall be required to become a Subsidiary Guarantor or otherwise take the actions specified in clause (ii) of this
Section 6.11(b) and (3) no more than 65% of the total voting power of all outstanding voting stock and 100% of the Equity Interests not constituting voting stock of any CFC or CFC Holdco (except that any such Equity
Interests constituting “stock entitled to vote” within the meaning of Treasury Regulation Section 1.956-2(c)(2) shall be treated as voting stock for purposes of this
Section 6.11(b)) shall be required to be pledged. 
 (c)    Each Loan Party shall grant to
the Collateral Agent, within 90 days of the acquisition thereof (or such later date as the Administrative Agent may agree), a security interest in and mortgage in a form reasonably satisfactory to the Administrative Agent and Collateral Agent
(a “Mortgage”) on each parcel of Real Property located in the United States and owned in fee by such Loan Party as is acquired by such Loan Party after the Closing Date and that, together with any improvements thereon, individually
has a fair market value of at least $25 million as additional security for the Obligations (unless the subject property is already mortgaged to a third party to the extent permitted hereunder). In addition, the Borrower agrees that, if the
Alabama Property is not sold by December 31, 2014, the Borrower will cause a 

  
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Mortgage to be granted on the Real Property comprising the Alabama Property within 90 days thereafter (or such later date as the Administrative Agent may agree). Such Mortgages shall be granted
pursuant to documentation reasonably satisfactory in form and substance to the Administrative Agent and the Collateral Agent and shall constitute valid and enforceable perfected Liens subject only to Liens permitted hereunder. The Mortgages or
instruments related thereto shall be duly recorded or filed in such manner and in such places as are required by Law to establish, perfect, preserve and protect the Liens in favor of the Collateral Agent required to be granted pursuant to the
Mortgages and all taxes, fees and other charges payable in connection therewith shall be paid in full. Such Loan Party shall otherwise take such actions and execute and/or deliver to the Collateral Agent such documents as the Administrative Agent or
the Collateral Agent shall reasonably require to confirm the validity, perfection and priority of the Lien of any existing Mortgage or new Mortgage against such after-acquired Real Property (including, to the extent so required, a Title Policy, a
Survey (if required in order to permit the issuer of the Title Policy to omit a survey exception or issue any survey dependent endorsements requested by the Administrative Agent), local counsel opinion (in form and substance reasonably satisfactory
to the Administrative Agent and the Collateral Agent) and a completed “Life-of-Loan” Federal Emergency Management Agency standard flood hazard determination,
together with a notice executed by such Loan Party about special flood hazard area status, if applicable, in respect of such Mortgage). Notwithstanding anything to the contrary contained herein or in any other Loan Document, in the event the
Borrower is required hereunder to deliver a Mortgage with respect to the Alabama Property, the Borrower shall not be required to provide a Survey with respect to such Alabama Property (and the Borrower shall not be responsible to provide to the
Collateral Agent a Title Policy that does not contain an exception for survey matters, or which includes endorsements that are, to the extent applicable, dependent on a survey, including, without limitation, a zoning endorsement). Notwithstanding
the foregoing, the Administrative Agent shall not enter into any Mortgage in respect of any real property acquired by any Loan Party after the First Amendment Effective Date unless the Administrative Agent has provided to the Revolving Credit
Lenders (i) if such Mortgaged Property is not located in a “special flood hazard area”, a completed flood hazard determination with respect to such real property from a third-party vendor prior to entering into such Mortgage or
(ii) if such Mortgage relates to real property located in a “special flood hazard area”, the following documents with respect to such real property at least ten (10) days prior to entering into such Mortgage: (i) a completed
flood hazard determination from a third party vendor, and (x) a notification to the applicable Loan Parties that flood insurance coverage is not available under the National Flood Insurance Program; or (y) if required by relevant
requirements of Law, evidence of required flood insurance. 
 (d)    The foregoing paragraphs (a) through
(c) shall not require the creation or perfection of pledges of or security interests in, or Mortgage on, or the obtaining of title insurance or surveys with respect to, particular assets if and for so long as (i) in the reasonable judgment of
the Administrative Agent and the Borrower, the cost of creating or perfecting such pledges or security interests in, or a Mortgage on, such assets or obtaining title insurance or surveys in respect of such assets shall be excessive in view of the
benefits to be obtained by the Lenders therefrom or (ii) such asset constitutes an Excluded Asset (as such term is defined in the Security Agreement). In addition, the foregoing will not require actions under this
Section 6.11 by a Person if and to the extent that such action would (a) go beyond the corporate or other powers of the Person concerned (and then only as such corporate or other power cannot be

  
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modified or excluded to allow such action); or (b) unavoidably result in material issues of director’s or officer’s personal liability, breach of fiduciary duty or criminal
liability. The Administrative Agent may grant extensions of time for the perfection of security interests in, or a Mortgage on, or the obtaining of title insurance or surveys with respect to particular assets (including extensions beyond the Closing
Date for the perfection of security interests in the assets of the Loan Parties on such date) where it reasonably determines, in consultation with the Borrower, that perfection cannot be accomplished without undue effort or expense by the time or
times at which it would otherwise be required by this Agreement or the Collateral Documents. 
 (e)    Notwithstanding
the foregoing provisions of this Section 6.11 or anything in this Agreement or any other Loan Document to the contrary, Liens required to be granted from time to time pursuant to this Section 6.11
shall be subject to exceptions and limitations set forth herein, in the Collateral Documents and, to the extent appropriate in the applicable jurisdiction, as agreed between the Collateral Agent and the Borrower. Notwithstanding the foregoing
provisions of this Section 6.11 or anything in this Agreement or any other Loan Document to the contrary, any Subsidiary of the Borrower that Guarantees the Senior Notes or the 2025 Senior Notes shall be a Guarantor
hereunder for so long as it Guarantees such Indebtedness. 
 SECTION 6.12.    Compliance with Environmental
Laws. Except, in each case, to the extent that the failure to do so would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, (a) comply, and take all reasonable actions to cause all lessees and
other Persons operating or occupying its properties to comply, with all applicable Environmental Laws and Environmental Permits, (b) obtain and renew all Environmental Permits necessary for its operations and properties, and (c) to the
extent the Loan Parties are required by Environmental Laws, conduct any investigation, study, sampling and testing, and undertake any cleanup, removal, remedial or other action necessary to remove and clean up all Hazardous Materials from any
affected property, in accordance with the requirements of all Environmental Laws. 
 SECTION 6.13.    Post-Closing
Conditions and Further Assurances. (a) Within 90 days after the Closing Date (subject to extension by the Administrative Agent in its discretion), deliver each Collateral Document or other deliverable set forth on
Schedule 6.13(a) (as such Schedule may be supplemented or modified on or prior to the Closing Date by agreement between the Administrative Agent and the Borrower), duly executed by each Loan Party that is a party thereto,
together with all documents and instruments required to perfect the security interest of the Administrative Agent in the Collateral (if any) free of any other pledges, security interests or mortgages, except Liens permitted hereunder. 

(b)    Promptly upon request by the Administrative Agent (i) correct any material defect or error that may be
discovered in the execution, acknowledgment, filing or recordation of any Collateral Document or other document or instrument relating to any Collateral, and (ii) do, execute, acknowledge, deliver, record,
re-record, file, re-file, register and re-register any and all such further acts, deeds, certificates, assurances and other
instruments as the Administrative Agent may reasonably request from time to time in order to carry out more effectively the purposes of the Collateral Documents. 

  
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 SECTION 6.14.    Designation of Subsidiaries. (a) After the
Closing Date, the Borrower may at any time and from time to time designate any of its Subsidiaries (including any existing Subsidiary and any newly acquired or newly formed Subsidiary) to be an Unrestricted Subsidiary unless such Subsidiary or any
of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any Lien on, any property of, the Borrower or any Restricted Subsidiary of the Borrower (other than solely any Subsidiary of the Subsidiary to be so designated);
provided, that (i) no Default or Event of Default shall have occurred and be continuing before and after giving effect to such designation and (ii) the Borrower and its Restricted Subsidiaries shall be in Pro Forma Compliance with
Section 7.08 for the most recently ended Test Period for which Required Financial Statements have been delivered and provided, further that (A) such designation complies with
Section 7.05; and (B) neither the Subsidiary to be so designated nor any of its Subsidiaries has at the time of designation, created, incurred, issued, assumed, guaranteed or otherwise become directly or indirectly
liable with respect to any Indebtedness pursuant to which the lender has recourse to any of the assets of any Loan Party or any Restricted Subsidiary. 

(b)    The Borrower may designate any Unrestricted Subsidiary to be a Restricted Subsidiary; provided that,
immediately before and after giving effect to such designation, no Default or Event of Default shall have occurred and be continuing and the Borrower and its Restricted Subsidiaries shall be in Pro Forma Compliance with
Section 7.08 for the most recently ended Test Period for which Required Financial Statements have been delivered; provided further, that any Indebtedness of the applicable Subsidiary and any Liens encumbering its property
existing as of the time of such designation shall be deemed incurred or established, as applicable, at the time of such designation. 

(c)    For purposes of designating any Restricted Subsidiary as an Unrestricted Subsidiary, all outstanding Investments
by the Borrower and its Restricted Subsidiaries (except to the extent repaid) in the Subsidiary so designated will be deemed to be Investments in an amount determined as set forth in the definition of “Investment”. Such designation
will be permitted only if an Investment in such amount would be permitted at such time, under any of the provisions of this Agreement, and if such Subsidiary otherwise meets the definition of an “Unrestricted Subsidiary.” 

(d)    Any such designation by the Borrower shall be notified by the Borrower to the Administrative Agent by promptly
delivering to the Administrative Agent a certificate of a Responsible Officer of the Borrower certifying that such designation complied with the foregoing provisions, whereupon such designation shall be immediately effective. 

SECTION 6.15.    Use of Proceeds. (a) The Borrower will use the proceeds of the Term Loans solely for the
following purposes: (i) to fund the IPC Purchase or IPC Note Repayment, (ii) to fund the Special Dividend and (iii) to fund the Closing Date Transaction Expenses and other fees and expenses relating to the Transactions. 

(b)    The Borrower will use the proceeds of the Revolving Credit Loans for general corporate purposes, including
Permitted Investments and Restricted Payments. 
 (c)    The Borrower will use Letters of Credit for general corporate
purposes. 

  
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 (d)    The Borrower will not use the proceeds of any Credit Extensions
(including any Letter of Credit) for the purpose of (i) furthering an offer, payment, promise to pay, or authorization of the payment of money, to any Person in violation of FCPA or the United Kingdom Bribery Act of 2010 or (ii) funding,
financing or facilitating any activities, business or transaction of or with a Sanctioned Person or in a Sanctioned Country, in violation of any applicable Sanctions. 

SECTION 6.16.    Maintenance of Ratings. Use commercially reasonable efforts to (a) cause each Facility to be
continuously rated (but not any specific rating) by S&P and Moody’s and (b) maintain a public corporate rating (but not any specific rating) from S&P and a public corporate family rating (but not any specific rating) from
Moody’s, in each case for the Borrower. 
 SECTION 6.17.    Lender Calls. At the request of the
Administrative Agent or of the Required Lenders and upon reasonable prior notice, hold a conference call (at a location and time selected by the Administrative Agent and the Borrower) with all Lenders who choose to attend such conference call, at
which conference call the financial results of the previous fiscal year or first two fiscal quarters of the current fiscal year, as applicable, and the financial condition of the Borrower and its Subsidiaries shall be reviewed; provided, that
notwithstanding the foregoing, the requirement set forth in this Section 6.17 may be satisfied with a public earnings call; provided further, in no event shall any such call be required to take place prior to forty-five
days after the end of each of the second fiscal quarter of each fiscal year of the Borrower and ninety days after the end of each fiscal year of the Borrower, as applicable; provided further, that the Borrower shall in no event be required to
hold more than two such calls during any fiscal year. 
 SECTION 6.18.    First Amendment Post-Effective Date
Transactions. After the First Amendment Effective Date and on or before December 31, 2017, the Borrower shall prepay, repay, redeem, repurchase or otherwise retire Term Loans or Senior Notes (or any combination of Term Loans and Senior
Notes), as determined by the Borrower, in an aggregate principal amount of $100 million. 
 ARTICLE VII 

NEGATIVE COVENANTS 
 So long as
any Lender shall have any Commitment hereunder, any Loan or other Obligation hereunder which is accrued and payable shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding (and not Cash Collateralized): 

SECTION 7.01.    Liens. The Borrower will not, and will not permit any Restricted Subsidiary to, directly or
indirectly, create, incur, assume or suffer to exist any Lien 

  
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that secures any obligation or any related guarantee, on any asset or property of the Borrower or any of its Restricted Subsidiaries whether now owned or hereafter acquired, other than the
following (“Permitted Liens”): 
 (1)    pledges, deposits or security by such Person
under workmen’s compensation laws, unemployment insurance, employers’ health tax, and other social security laws or similar legislation, or other insurance related obligations (including, but not limited to, in respect of deductibles,
self-insured retention amounts and premiums and adjustments thereto) or indemnification obligations of (including obligations in respect of letters of credit or bank guarantees for the benefit of) insurance carriers providing property, casualty or
liability insurance, or good faith deposits in connection with bids, tenders, trade contracts or government contracts (other than for the payment of Indebtedness) or leases to which such Person is a party, or agreements with utilities, or deposits
to secure public or statutory obligations of such Person or deposits of cash or U.S. government bonds to secure surety, stay, customs or appeal bonds to which such Person is a party, or deposits as security for contested taxes or import duties or
for the payment of rent, performance and return of money bonds and other similar obligations (including letters of credit issued in lieu of any such bonds or to support the issuance thereof and including those to secure health, safety and
environmental obligations), in each case incurred in the ordinary course of business; 
 (2)    Liens
imposed by law or regulation, such as carriers’, warehousemen’s, materialmen’s, repairmen’s, mechanics’, contractors’ and other similar Liens, in each case for sums not yet overdue for a period of more than 30 days
or being contested in good faith by appropriate proceedings or other Liens arising out of judgments or awards against such Person with respect to which such Person shall then be proceeding with an appeal or other proceedings for review if adequate
reserves with respect thereto are maintained on the books of such Person in accordance with GAAP; 

(3)    Liens for Taxes, assessments or other governmental charges not yet overdue for a period of more than
30 days or which are being contested in good faith by appropriate proceedings, if adequate reserves with respect thereto are maintained on the books of such Person in accordance with GAAP, or for property taxes on property the Borrower or one
of its Subsidiaries has determined to abandon if the sole recourse for such tax, assessment or charge is to such property; 

(4)    Liens in favor of issuers of performance, surety bonds or bid, indemnity, warranty, release, appeal
or similar bonds or with respect to other regulatory requirements or letters of credit issued pursuant to the request of and for the account of such Person in the ordinary course of its business; 

(5)    survey exceptions, encumbrances, ground leases, servitudes, easements or reservations of, or rights
of others for, licenses, rights-of-way, sewers, electric lines, telegraph, cable and telephone lines, utilities and other similar purposes, or zoning or other
restrictions as to the use of real properties or Liens incidental to the conduct of the business of such Person or to the ownership of its properties that were not incurred in connection with Indebtedness or other covenants, conditions, restrictions
and minor defects or irregularities in title (“Other Encumbrances”), in each case which Liens and Other Encumbrances do not in the aggregate materially adversely affect the value of said properties or materially impair their use in
the operation of the business of such Person; 

  
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 (6)    Liens securing Indebtedness permitted to be incurred
pursuant to Sections 7.02(b)(iv), Section 7.02(b)(xii) or 7.02(b)(xvii); provided that (x) Liens securing Indebtedness permitted to be incurred pursuant to
Section 7.02(b)(iv) extend only to the assets and/or Capital Stock, the acquisition, lease, construction, repair, replacement or improvement of which is financed thereby and any replacements, additions and accessions
thereto and any income or profits therefrom; provided that individual financings of equipment provided by one lender may be cross-collateralized to other financings of equipment provided by such lender, (y) Liens securing Refinancing
Indebtedness permitted to be incurred pursuant to Section 7.02(b)(xii) only secure Refinancing Indebtedness that serves to Refinance any Indebtedness secured by a Lien; provided that such Liens are limited to all or
part of the same property or assets (plus additions, accessions, improvements, proceeds or dividends or distributions in respect thereof) that secured (or, under the written arrangements under which the original Lien arose, could secure) the
Indebtedness being refinanced and (z) Liens securing Indebtedness permitted to be incurred pursuant to Section 7.02(b)(xvii) extend only to the assets of Non-Guarantor
Subsidiaries; 
 (7)    Liens existing on the Closing Date listed on
Schedule 7.01, or, to the extent created in connection with the Transactions, Liens existing on the Distribution Date; 

(8)    Liens on property or shares of stock of a Person at the time such Person becomes a Restricted
Subsidiary; provided, however, such Liens are not created or incurred in connection with, or in contemplation of, such Person becoming such a Restricted Subsidiary; provided further, however, that such Liens may
not extend to any other property owned by the Borrower or any of its Restricted Subsidiaries other than pursuant to customary after acquired-property clauses; 

(9)    Liens on property at the time the Borrower or a Restricted Subsidiary acquired the property,
including any acquisition by means of a merger or consolidation with or into the Borrower or a Restricted Subsidiary; provided, however, that such Liens are not created or incurred in connection with, or in contemplation of, such
acquisition, merger or consolidation; 
 (10)    Liens securing Indebtedness or other obligations of a
Restricted Subsidiary owing to the Borrower or any Restricted Subsidiary permitted to be incurred under Section 7.02; 

(11)    Liens securing Hedging Obligations incurred pursuant to
Section 7.02(b)(ix); 
 (12)    Liens on specific items of inventory or other
goods and proceeds of any Person securing such Person’s obligations in respect of bankers’ acceptances or trade letters of credit issued or created for the account of such Person to facilitate the purchase, shipment or storage of such
inventory or other goods; 

  
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 (13)    (a) leases, subleases, licenses or sublicenses
(including of real property and intellectual property) granted to others in the ordinary course of business and (b) with respect to any leasehold interest held by the Borrower or any of its Subsidiaries, the terms of the leases granting such
leasehold interest and the rights of lessors thereunder, which in the case of each of (a) and (b) do not materially interfere with the ordinary conduct of the business of the Borrower and its Restricted Subsidiaries, taken as a whole, and do
not secure any Indebtedness; 
 (14)    Liens arising from Uniform Commercial Code (or equivalent
statute) financing statement filings regarding operating leases entered into by the Borrower and its Restricted Subsidiaries in the ordinary course of business; 

(15)    Liens in favor of the Loan Parties; 

(16)    Liens on equipment of the Borrower or any of its Restricted Subsidiaries granted in the ordinary
course of business; 
 (17)    Liens on accounts receivable and related assets incurred in connection
with a Receivables Facility; 
 (18)    Liens to secure any Refinancing (or successive Refinancings) as a
whole, or in part, of any Indebtedness secured by any Lien referred to in the foregoing clauses (6), (7), (8), (9) and this clause (18); provided, however, that (a) such new Lien shall be limited
to all or part of the same property that secured the original Lien (and additions, accessions, improvements, proceeds and replacements and customary deposits in connection therewith and proceeds and products therefrom) and assets that secured or,
under the written agreements pursuant to which the original Lien arose, could secure the original Indebtedness, and (b) the Indebtedness secured by such Lien at such time is not increased to any amount greater than the sum of (i) the
outstanding principal amount or, if greater, committed amount of the Indebtedness described under clauses (6), (7), (8), (9) and this clause (18) at the time the original Lien became a Permitted Lien under
this Agreement, and (ii) an amount necessary to pay any fees and expenses, including premiums, and accrued and unpaid interest related to such Refinancing; 

(19)    deposits made in the ordinary course of business to secure liability to insurance carriers; 

(20)    other Liens securing obligations, including obligations (other than obligations that constitute
indebtedness for borrowed money, but in any event including obligations in respect of letters of credit, performance or surety bonds, bankers’ acceptances or other similar instruments) that are secured by the Collateral on a pari passu
basis, that do not exceed $100 million in aggregate amount at any one time outstanding; 

(21)    Liens securing judgments for the payment of money not constituting an Event of Default under
Section 8.01(g) so long as such Liens are adequately bonded and any appropriate legal proceedings that may have been duly initiated for the review of such judgment have not been finally terminated or the period within which
such proceedings may be initiated has not expired; 

  
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 (22)    Liens in favor of customs and revenue authorities
arising as a matter of law to secure payment of customs duties in connection with the importation of goods; 

(23)    Liens (i) of a collection bank arising under
Section 4-210 of the Uniform Commercial Code or any comparable or successor provision on items in the course of collection, (ii) attaching to commodity trading accounts or other commodity brokerage
accounts incurred in the ordinary course of business, and (iii) in favor of banking or other financial institutions arising as a matter of law or pursuant to customary depositary terms encumbering deposits (including the right of set-off) and which are within the general parameters customary in the banking industry; 

(24)    Liens deemed to exist in connection with Investments in repurchase agreements permitted pursuant to
Section 7.02; provided, that such Liens do not extend to any assets other than those that are the subject of such repurchase agreement; 

(25)    Liens encumbering reasonable customary initial deposits and margin deposits and similar Liens
attaching to commodity trading accounts or other brokerage accounts incurred in the ordinary course of business and not for speculative purposes; 

(26)    banker’s liens, Liens that are statutory, common law or contractual rights of set-off and other similar Liens, in each case (i) relating to the establishment of depository relations with banks not given in connection with the issuance of Indebtedness, (ii) relating to pooled deposit
or sweep accounts of the Borrower or any of its Restricted Subsidiaries to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business or (iii) relating to purchase orders and other agreements entered
into with customers of the Borrower or any of its Restricted Subsidiaries in the ordinary course of business; 

(27)    Liens pursuant to any Loan Document; 

(28)    Liens on Collateral securing Indebtedness incurred pursuant to
Section 7.02(b)(xxi) or 7.02(b)(xxii), in each case so long as such Indebtedness is subject to an Intercreditor Agreement (or Second Lien Intercreditor Agreement in the case of Permitted Junior Secured Refinancing
Debt and such other Indebtedness pursuant to such sections as shall be intended to be secured on a second-lien basis); 

(29)    Liens on assets of Non-Guarantor Subsidiaries securing
Indebtedness of Non-Guarantor Subsidiaries permitted pursuant to Section 7.02; 

(30)    Liens on the Equity Interests of Unrestricted Subsidiaries; 

(31)    Liens deemed to exist by reason of (i) any encumbrance or restriction (including put and call
arrangements) with respect to Capital Stock of any joint venture or similar arrangement pursuant to any joint venture or similar agreement or (ii) any encumbrance or restriction imposed under any contract for the sale by the Borrower or any of
its Subsidiaries of the Capital Stock of any Subsidiary of the Borrower, or any business unit or division of the Borrower or any Subsidiary of the Borrower permitted by this Agreement; 

  
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 (32)    Liens on property or assets used to defease or to
irrevocably satisfy and discharge Indebtedness; provided that such defeasance or satisfaction and discharge is not prohibited by this Agreement; 

(33)    Liens arising out of conditional sale, title retention, consignment or similar arrangements for the
sale of goods entered into in the ordinary course of business; 
 (34)    Liens incurred to secure cash
management services or to implement cash pooling arrangements in the ordinary course of business; 

(35)    Liens solely on any cash earnest money deposits made by the Borrower or any of its Restricted
Subsidiaries in connection with any letter of intent or purchase agreement in respect of any Investment permitted under this Agreement; 

(36)    rights deemed to arise under revenue sharing or similar agreements entered into in the ordinary
course of business pursuant to which third parties are granted the right to receive a portion of the revenues, income or profits generated from specific assets or operations of the Borrower or any Restricted Subsidiary; and 

(37)    additional Liens securing Indebtedness of the Borrower and its Restricted Subsidiaries permitted to
be incurred pursuant to Section 7.02; provided, that at the time of incurrence of such Indebtedness, on a Pro Forma Basis after giving effect to the incurrence of such Indebtedness, the Consolidated Secured Net
Leverage Ratio shall not be greater than 2.50 to 1.00; provided, that any Liens on the Collateral incurred pursuant to this clause (37) shall be subject to an Intercreditor Agreement or a Second Lien Intercreditor
Agreement. 
 For purposes of this Section 7.01, the term “Indebtedness” shall be deemed to
include interest on and the costs in respect of such Indebtedness. 
 SECTION 7.02.    Incurrence of Indebtedness
and Issuance of Disqualified Stock and Preferred Stock. (a) The Borrower will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume, guarantee or otherwise become directly or
indirectly liable for (collectively, “incur” and collectively, an “incurrence”) any Indebtedness (including Acquired Indebtedness) and the Borrower will not issue any shares of Disqualified Stock and will not permit
any Restricted Subsidiary to issue any shares of Disqualified Stock or Preferred Stock; provided, however, that the Borrower may incur Indebtedness (including Acquired Indebtedness) or issue shares of Disqualified Stock, and any
Restricted Subsidiary may incur Indebtedness (including Acquired Indebtedness), issue shares of Disqualified Stock and issue shares of Preferred Stock, if the Consolidated Net Leverage Ratio at the time such additional Indebtedness is incurred or
such Disqualified Stock or Preferred Stock is issued would have been no greater than 3.50 to 1.00, determined on a Pro Forma Basis (including a pro forma application of the net proceeds therefrom); provided further, however,
that Non-Guarantor Subsidiaries may not incur Indebtedness or issue Disqualified Stock or 

  
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Preferred Stock pursuant to this Section 7.02(a) if, after giving pro forma effect to such incurrence or issuance, more than an aggregate of $300 million at
the time of incurrence of such Indebtedness or Disqualified Stock or Preferred Stock of such Non-Guarantor Subsidiaries is outstanding pursuant to this clause (a) and clause
(xvii) of Section 7.02(b) in the aggregate. 
 (b)    The provisions of
Section 7.02(a) hereof shall not apply to: 
 (i)    Indebtedness of any Loan Party under the
Loan Documents; 
 (ii)    Indebtedness represented by (A) the Senior Notes (including any guarantee thereof by a
Subsidiary Guarantor) (other than any “Additional Notes” (as defined in the Senior Notes Indenture) or guarantees with respect thereto) and (B) the 2025 Senior Notes (including any guarantee thereof by a Subsidiary Guarantor) (other
than any “Additional Notes” (as defined in the 2025 Senior Notes Indenture) or guarantees with respect thereto); 

(iii)    Indebtedness of the Borrower and its Restricted Subsidiaries in existence on the Closing Date (other than
Indebtedness described in clauses (i) and (ii)) listed on Schedule 7.02(b); 

(iv)    (A) Indebtedness (including Capitalized Lease Obligations and Attributable Indebtedness), Disqualified Stock and
Preferred Stock incurred or issued by the Borrower or any of its Restricted Subsidiaries to finance the purchase, lease, construction or improvement of property (real or personal) or equipment, whether through the direct purchase of assets or the
Capital Stock of any Person owning such assets, and any Indebtedness incurred to refinance any such Indebtedness (and successive refinancings thereof), in an aggregate principal amount or liquidation preference which, when aggregated with the
principal amount of all other Indebtedness, Disqualified Stock and Preferred Stock then outstanding under this clause (iv)(A), together with the aggregate principal amount of Indebtedness outstanding pursuant to clause
(B) of this clause (iv), does not exceed the greater of (x) $150 million and (y) 25% of Four Quarter EBITDA at the time of incurrence and (B) any Indebtedness incurred to Refinance Indebtedness incurred under
clause (A) of this clause (iv) (or successive Refinancings of Indebtedness incurred under this clause (B)); 

(v)    Indebtedness incurred by the Borrower or any of its Restricted Subsidiaries constituting reimbursement obligations
with respect to letters of credit, bankers’ acceptances, bank guarantees, warehouse receipts or similar facilities issued or entered into in the ordinary course of business, including letters of credit in respect of workers’ compensation
claims, performance or surety bonds, health, disability or other employee benefits, property, casualty or liability insurance or self-insurance or other Indebtedness with respect to reimbursement type obligations regarding workers’ compensation
claims, performance or surety bonds, health, disability or other employee benefits, or property, casualty or liability insurance or self-insurance; 

(vi)    Indebtedness arising from agreements of the Borrower or its Restricted Subsidiaries providing for
indemnification, earn-out, holdback, adjustment of purchase price or similar obligations, in each case, incurred or assumed in connection with the acquisition or Disposition of any business, assets or a
Subsidiary, other than guarantees of Indebtedness incurred by any Person acquiring all or any portion of such business, assets or a Subsidiary for the purpose of financing such acquisition; 

  
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 (vii)    Indebtedness of the Borrower to a Restricted Subsidiary or a
Restricted Subsidiary to the Borrower or another Restricted Subsidiary; provided that any (A) such Indebtedness (other than such as may arise from ordinary course intercompany cash management obligations) owing by the Borrower or a
Subsidiary Guarantor to a Non-Guarantor Subsidiary is expressly subordinated in right of payment to the Obligations, (B) any such Indebtedness (other than such as may arise from ordinary course
intercompany cash management obligations) owing by a Non-Guarantor Subsidiary to the Borrower or a Subsidiary Guarantor is pledged to the Administrative Agent pursuant to the terms of the Collateral Documents
to the extent required thereby and (C) any such Indebtedness (other than such as may arise from ordinary course intercompany cash management obligations) owing by a Non-Guarantor Subsidiary to the
Borrower or a Subsidiary Guarantor, together with, but without duplication of, Investments made by Loan Parties in Non-Guarantor Subsidiaries pursuant to clauses (a) and (c) of the definition of
“Permitted Investments” and Disposition Deficiencies shall not exceed an aggregate amount outstanding equal to the greater of (x) $200 million and (y) 33% of Four Quarter EBITDA at the time such Indebtedness is incurred; provided
further, that any subsequent issuance or transfer of any Capital Stock or any other event which results in any Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the
Borrower or another Restricted Subsidiary or any pledge of such Indebtedness constituting a Permitted Lien) shall be deemed, in each case, to be an incurrence of such Indebtedness not permitted by this clause (vii); 

(viii)    shares of Preferred Stock of a Restricted Subsidiary issued to the Borrower or another Restricted Subsidiary;
provided that any subsequent issuance or transfer of any Capital Stock or any other event that results in such Preferred Stock being beneficially owned by a Person other than the Borrower or any Restricted Subsidiary or any other subsequent
transfer of any such shares of Preferred Stock (except to the Borrower or another of its Restricted Subsidiaries) shall be deemed in each case to be an issuance of such shares of Preferred Stock not permitted by this
clause (viii); 
 (ix)    Hedging Obligations not entered into for speculative purposes; 

(x)    obligations in respect of workers’ compensation claims, self-insurance, performance, bid, appeal and surety
bonds and performance or completion guarantees and similar obligations provided by the Borrower or any of its Restricted Subsidiaries or obligations in respect of letters of credit, bankers’ acceptances, bank guarantees or similar instruments
related thereto, in each case in the ordinary course of business; 
 (xi)    (A) Indebtedness or Disqualified Stock of
the Borrower and Indebtedness, Disqualified Stock or Preferred Stock of any Subsidiary Guarantor not otherwise permitted hereunder in an aggregate principal amount or liquidation preference, which when aggregated with the outstanding principal
amount and liquidation preference of all other Indebtedness, Disqualified Stock and Preferred Stock then outstanding and incurred pursuant to this clause (xi)(A), together with the aggregate principal amount of Indebtedness
outstanding pursuant to clause (B) of this clause (xi), does not exceed the greater of (x) $200 million and (y) 

  
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33% of Four Quarter EBITDA at the time of incurrence and (B) any Indebtedness incurred to Refinance Indebtedness incurred under clause (A) of this
clause (xi) (or successive Refinancings of Indebtedness incurred under this clause (B)); 

(xii)    the incurrence by the Borrower or any Restricted Subsidiary of Refinancing Indebtedness that serves to
refinance: 
 (A)    any Indebtedness, Disqualified Stock or Preferred Stock incurred or issued as
permitted under any of Section 7.02(a) and clauses (ii), (iii) and/or (xiii) of this Section 7.02(b), or 

(B)    any Indebtedness, Disqualified Stock or Preferred Stock incurred or issued to so Refinance the
Indebtedness, Disqualified Stock or Preferred Stock described in clause (A) above, 
 including, in each case, additional
Indebtedness, Disqualified Stock or Preferred Stock incurred to pay premiums (including tender premiums), accrued interest, defeasance costs and reasonable fees and expenses in connection therewith; 

(xiii)    Indebtedness, Disqualified Stock or Preferred Stock of (x) the Borrower or a Loan Party incurred to
finance an acquisition of any assets, business or Person or (y) Persons that are acquired by the Borrower or any Loan Party or merged into or consolidated with the Borrower or a Loan Party in accordance with the terms of this Agreement;
provided that, after giving effect to such acquisition, merger or consolidation, either: 

(A)    the Borrower would be permitted to incur at least $1.00 of additional Indebtedness pursuant to the
Consolidated Net Leverage Ratio test set forth in Section 7.02(a), or 

(B)    the Consolidated Net Leverage Ratio is less than or equal to the Consolidated Net Leverage Ratio
immediately prior to such acquisition, merger or consolidation; 
 (xiv)    Indebtedness arising from the honoring by a
bank or other financial institution of a check, draft or similar instrument drawn against insufficient funds in the ordinary course of business or other cash management services in the ordinary course of business; provided that such
Indebtedness is extinguished within 10 Business Days of notice of its incurrence; 
 (xv)    Indebtedness of the
Borrower or any of its Restricted Subsidiaries supported by a letter of credit or bank guarantee issued pursuant to the Facilities, in a principal amount not in excess of the stated amount of such letter of credit or bank guarantee; 

(xvi)    (A) any guarantee by the Borrower or a Restricted Subsidiary of Indebtedness or other obligations of any
Restricted Subsidiary so long as the incurrence of such Indebtedness incurred by such Restricted Subsidiary is permitted under the terms of this Agreement and, in the case of the guarantee by a Loan Party of Indebtedness of Non-Guarantor Subsidiary, only to the extent that the related Investment is Permitted; 

  
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 (B)    any guarantee by a Subsidiary Guarantor of
Indebtedness of the Borrower, or 
 (C)    any guarantee by the Borrower or a Restricted Subsidiary in
the ordinary course of business in respect of obligations to suppliers, customers, franchisees, lessors and licensees of the Borrower or any Restricted Subsidiary; 

(xvii)    (A) Indebtedness of Non-Guarantor Subsidiaries in an aggregate
principal amount, which when aggregated with the principal amount of all other Indebtedness then outstanding and incurred pursuant to this clause (xvii)(A), together with the aggregate principal amount of Indebtedness
outstanding pursuant to clause (B) of this clause (xvii), does not exceed the greater of (x) $150 million and (y) 25% of Four Quarter EBITDA at the time of incurrence and (B) any Indebtedness incurred
to Refinance Indebtedness incurred under clause (A) of this clause (xvii) (or successive Refinancings of Indebtedness incurred under this clause (B)); 

(xviii)    Indebtedness of the Borrower or any of its Restricted Subsidiaries consisting of (i) the financing of
insurance premiums or (ii) take-or-pay obligations contained in supply arrangements in each case, incurred in the ordinary course of business; 

(xix)    Indebtedness of the Borrower or any of its Restricted Subsidiaries undertaken in connection with cash
management, overdraft protection and related activities with respect to any Subsidiary or joint venture in the ordinary course of business; 

(xx)    Indebtedness consisting of Indebtedness issued by the Borrower or any of its Restricted Subsidiaries to current
or former officers, directors and employees thereof, their respective estates, spouses or former spouses, in each case to finance the purchase or redemption of Equity Interests of the Borrower to the extent permitted under
Section 7.05(b)(iv); 
 (xxi)    Indebtedness incurred pursuant to a Permitted Debt Offering
so long as, at the time of the incurrence thereof, after giving effect thereto, the aggregate principal amount of such Indebtedness does not exceed the Maximum Incremental Term Loan Amount; and 

(xxii)    Credit Agreement Refinancing Indebtedness. 

(c)    For purposes of determining compliance with this Section 7.02, in the event that an item
of Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof) meets the criteria of more than one of the categories of permitted Indebtedness, Disqualified Stock or Preferred Stock described in clauses (i) through
(xxii) of Section 7.02(b) above or is permitted to be incurred pursuant to Section 7.02(a) hereof, the Borrower, in its sole discretion, may divide and/or classify on the date of incurrence
such item of Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof) in any manner that complies with this Section 7.02 and may later redivide and/or reclassify (based on circumstances existing at the
time of such redivision or reclassification) such item of Indebtedness, Disqualified Stock or Preferred Stock (or any portion thereof) in any manner that complies with this covenant; provided that all Indebtedness outstanding under the
Facilities on the Distribution Date will be treated as incurred on the Distribution Date under Section 7.02(b)(i) and will not later be reclassified. 

  
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 Accrual of interest or dividends, the accretion of accreted value and the payment of interest in
the form of additional Indebtedness with the same terms, the payment of dividends in the form of additional shares of Disqualified Stock or Preferred Stock, as applicable, of the same class, and accretion of original issue discount or liquidation
preference will not be deemed to be an incurrence of Indebtedness, Disqualified Stock or Preferred Stock for purposes of this Section 7.02. Guarantees of, or obligations in respect of letters of credit relating to,
Indebtedness which is otherwise included in the determination of a particular amount of Indebtedness shall not be included in the determination of such amount of Indebtedness; provided that the incurrence of the Indebtedness represented by
such guarantee or letter of credit, as the case may be, was in compliance with this Section 7.02. 
 For purposes
of determining compliance with any U.S. dollar-denominated restriction on the incurrence of Indebtedness, the U.S. dollar-equivalent principal amount of Indebtedness denominated in a foreign currency shall be calculated based on the relevant
currency exchange rate in effect on the date such Indebtedness was incurred, in the case of term debt, or first committed or first incurred (whichever is lower), in the case of revolving credit debt; provided that if such Indebtedness is
incurred to Refinance other Indebtedness denominated in a foreign currency, and such Refinancing would cause the applicable U.S. dollar-denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date
of such Refinancing, such U.S. dollar-denominated restriction shall be deemed not to have been exceeded so long as the principal amount of such Indebtedness does not exceed the principal amount of such Indebtedness being Refinanced. For the
avoidance of doubt and notwithstanding any other provision of this covenant, the maximum amount of Indebtedness that may be incurred pursuant to this Section 7.02 shall not be deemed to be exceeded solely as a result of
fluctuations in the exchange rate of currencies. 
 The principal amount of any Indebtedness incurred to Refinance other Indebtedness, if
incurred in a different currency from the Indebtedness being Refinanced, shall be calculated based on the currency exchange rate applicable to the currencies in which such respective Indebtedness is denominated as in effect on the date of such
Refinancing. 
 Notwithstanding anything to the contrary contained in this Section 7.02, the Borrower will not,
and will not permit any other Loan Party to, directly or indirectly, incur Indebtedness (including Acquired Indebtedness) that is contractually subordinated in right of payment to any Indebtedness of the Borrower or such other Loan Party, as the
case may be, unless such Indebtedness is contractually subordinated in right of payment to the Obligations or such Guarantor’s Guarantee, in all material respects, to the extent and in the manner as such Indebtedness is so subordinated to other
Indebtedness of the applicable Loan Party. 
 For the purposes of this Agreement, (x) Indebtedness that is unsecured is not deemed to
be subordinated or junior to secured Indebtedness merely because it is unsecured and (y) Indebtedness is not deemed to be subordinated or junior to any other Indebtedness merely because it has a junior priority with respect to the same
collateral. 
 SECTION 7.03.    Fundamental Changes. Neither the Borrower nor any of its Restricted Subsidiaries
shall merge, dissolve, liquidate, wind up, consolidate with or into another Person, or Dispose of all or substantially all of its properties or assets (whether now owned or 

  
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hereafter acquired) in one or more related transactions (for the avoidance of doubt, other than in the Transactions) to or in favor of any Person, except that: 

(a)    any Restricted Subsidiary may merge or consolidate with (i) the Borrower or a Subsidiary Guarantor (including
a merger, the purpose of which is to reorganize such Restricted Subsidiary into a new jurisdiction); provided, that the Borrower or such Subsidiary Guarantor shall be the continuing or surviving Person; or (ii) one or more other
Restricted Subsidiaries; provided, that when any Person that is a Loan Party is merging with a Restricted Subsidiary under this clause (a)(ii), a Loan Party shall be the continuing or surviving Person; 

(b)    (i) any Subsidiary that is not a Loan Party may merge or consolidate with or into any other Subsidiary that is not
a Loan Party; and (ii) any Subsidiary may liquidate or may dissolve into its parent if the Borrower determines in good faith that such action is in the best interest of the Borrower and its Subsidiaries as a whole and is not materially
disadvantageous to the Lenders; 
 (c)    the Borrower or any Restricted Subsidiary may Dispose of all or substantially
all of its assets (upon voluntary liquidation or otherwise) to the Borrower or any Restricted Subsidiary; provided, that if the transferor in such a transaction is the Borrower or a Subsidiary Guarantor, then the transferee must be the
Borrower or a Subsidiary Guarantor and; provided further, that the Borrower shall remain after such transaction; 

(d)    so long as no Default exists or would result therefrom, the Borrower may merge or consolidate with any other
Person; provided, that (i) the Borrower shall be the continuing or surviving corporation or (ii) if the Person formed by or surviving any such merger or consolidation (any such Person, the “Successor Company”) is
not the Borrower, (A) the Successor Company shall be an entity organized or existing under the laws of the United States, any state or commonwealth thereof, the District of Columbia or any territory thereof, (B) the Successor Company shall
expressly assume all the obligations of the Borrower under this Agreement and the other Loan Documents to which the Borrower is a party pursuant to a supplement hereto or thereto in form reasonably satisfactory to the Administrative Agent,
(C) in the case of a Successor Company for the Borrower, each Guarantor, unless it is the other party to such merger or consolidation, shall have confirmed that its Guarantee and its pledges and other obligations under the Collateral Documents
shall apply to the Successor Company’s obligations under the Loan Documents, including, to the extent reasonably requested by the Administrative Agent, by executing amendments or supplements to the Security Agreement, any Mortgage (if any) and
any other Collateral Documents, and (D) the Borrower shall have delivered to the Administrative Agent (i) an officer’s certificate stating that such merger or consolidation and such supplement to this Agreement or any Collateral
Document comply with this Agreement and (ii) such other certificates and other documentation as reasonably requested by the Administrative Agent; provided further, that if the foregoing are satisfied, the Successor Company will succeed to, and
be substituted for, the Borrower under this Agreement; 
 (e)    so long as no Default exists or would result
therefrom, a Subsidiary Guarantor may merge or consolidate with any other Person; provided, that (i) such Subsidiary Guarantor shall be the continuing or surviving corporation or (ii) if the Successor Company is not such Subsidiary
Guarantor, (A) the Successor Company shall be an entity organized or 

  
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existing under the laws of the United States, any state or commonwealth thereof, the District of Columbia or any territory thereof, (B) the Successor Company shall expressly assume all the
obligations of such Subsidiary Guarantor under this Agreement and the other Loan Documents to which such Subsidiary Guarantor is a party pursuant to a supplement hereto or thereto in form reasonably satisfactory to the Administrative Agent, and
(C) such Subsidiary Guarantor shall have delivered to the Administrative Agent an officer’s certificate stating that such merger or consolidation and such supplement to this Agreement or any Collateral Document comply with this Agreement;
provided further, that if the foregoing are satisfied, the Successor Company will succeed to, and be substituted for, such Subsidiary Guarantor under this Agreement; 

(f)    so long as no Default exists or would result therefrom, the Borrower or any Restricted Subsidiary may merge or
consolidate with any other Person in order to effect an Investment permitted pursuant to Section 7.05; and 

(g)    so long as no Default exists or would result therefrom, any Restricted Subsidiary may consummate a merger,
dissolution, liquidation, consolidation or Disposition, the purpose of which is to effect a Disposition permitted pursuant to Section 7.04. 

SECTION 7.04.    Dispositions. The Borrower will not, and will not permit any of its Restricted Subsidiaries to,
consummate any Disposition, except: 
 (a)    any Disposition of cash, Cash Equivalents or Investment Grade Securities,
or of damaged, unnecessary, obsolete or worn out equipment or other property or assets in the ordinary course of business, or of property or assets no longer used or useful or economically practicable to maintain in the business of the Borrower and
its Restricted Subsidiaries in the reasonable opinion of the Borrower, or of any Disposition of inventory or goods (or other property or assets) in the ordinary course of business; 

(b)    the Disposition of all or substantially all of the property or assets of the Borrower or any of its Subsidiaries
pursuant to Section 7.03; 
 (c)    the making of any Restricted Payment or Permitted
Investment that is permitted to be made, and is made, under Section 7.05; 
 (d)    any
Disposition of property or assets or issuance or sale of Equity Interests of any Restricted Subsidiary in any transaction or series of transactions with an aggregate fair market value (as determined in good faith by the Borrower) not to exceed
$10 million; 
 (e)    any Disposition of property or assets or issuance of securities by a Restricted Subsidiary
to the Borrower or by the Borrower or a Restricted Subsidiary to another Restricted Subsidiary; provided, however, Disposition Deficiencies, together with, but without duplication of, Investments made by Loan Parties in Non-Guarantor Subsidiaries pursuant to clauses (a) and (c) of the definition of “Permitted Investments” and Indebtedness of a Non-Guarantor Subsidiary owing to
the Borrower or a Subsidiary Guarantor incurred pursuant to Section 7.02(b)(vii) shall not exceed an aggregate amount outstanding equal to the greater of (x) $200 million and (y) 33% of Four Quarter EBITDA at the time
such of such Disposition; 

  
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 (f)    to the extent allowable under Section 1031 of the Code, or any
comparable or successor provision, any exchange of like property (excluding any boot thereon) for use in a Similar Business; 

(g)    the sale, lease, assignment, license, sublicense or sub-lease of any real
or personal property, assets or services in the ordinary course of business; 
 (h)    any Disposition of Equity
Interests in, or Indebtedness or other securities of, an Unrestricted Subsidiary; 
 (i)    any Disposition of property
or assets subject to a Lien held by the Borrower or a Restricted Subsidiary in a foreclosure, eminent domain, seizure or similar proceeding or exercises of termination rights under any lease, license, concession or other agreement or Dispositions of
property or assets required by law, governmental regulation or any order of any court, administrative agency or regulatory body; 

(j)    sales of accounts receivable, or participations therein, and related assets or rights customarily sold or
assigned, in each case in connection with any Receivables Facility; provided that the aggregate Receivables Exposure shall not exceed $75 million; 

(k)    (A) non-exclusive licenses, sublicenses or cross-licenses of
intellectual property or other general intangibles of, and (B) exclusive licenses, sublicenses or cross-licenses of intellectual property or other general intangibles in the ordinary course of business of, the Borrower or the Restricted
Subsidiaries; 
 (l)    sales, transfers and other Dispositions of Investments or other interests in joint ventures or
similar entities to the extent required by, or made pursuant to, customary buy/sell arrangements or rights of first refusal between the parties set forth in joint venture arrangements and similar binding arrangements; 

(m)    the lapse or abandonment of intellectual property rights in the ordinary course of business, which in the good
faith determination of the Borrower is not material to the conduct of the business of the Borrower and its Restricted Subsidiaries, taken as a whole; 

(n)    the granting of Liens not prohibited by Section 7.01; 

(o)    the unwinding of any Hedging Obligations; 

(p)    an issuance of Equity Interests pursuant to benefit plans, employment agreements, equity plans, stock subscription
or shareholder agreements, stock ownership plans and other similar plans, policies, contracts or arrangements established in the ordinary course of business or approved by the Borrower in good faith; 

(q)    any surrender or waiver of obligations of trade creditors or customers or contract rights or the settlement,
release or surrender of contractual rights, tort or other claims of any kind; 

  
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 (r)    Dispositions or discounts of receivables in connection with the
compromise, settlement or collection thereof in the ordinary course of business or in bankruptcy or similar proceedings and exclusive of factoring or similar arrangements; 

(s)    any financing transaction (excluding by way of a Sale and Lease-Back Transaction) with respect to property
constructed, acquired, replaced, repaired or improved by the Borrower or any of its Restricted Subsidiaries after the Closing Date; 

(t)    Dispositions of leasehold improvements or leased assets in connection with the termination of any operating lease;

 (u)    any swap of assets, in the ordinary course of business, in exchange for services (including in connection
with any outsourcing arrangements) of comparable or greater value or usefulness to the business of the Borrower and its Restricted Subsidiaries, taken as a whole, as determined in good faith by an Borrower; 

(v)    Dispositions of Investments in joint ventures and, to the extent any joint venture constitutes a Restricted
Subsidiary, the property of such joint venture, so long as the aggregate fair market value (as determined in good faith by the Borrower) (determined, with respect to each such Disposition, as of the time of such Disposition), of all such
Dispositions does not exceed $10.0 million; 
 (w)    any Disposition (i) pursuant to the Spin-Off Documents or (ii) otherwise in connection with the Transactions; and 

(x)    Dispositions (including by way of any Sale and Lease-Back Transaction) with respect to which (i) the Borrower
or any Restricted Subsidiary, as the case may be, receives consideration at the time of such Disposition at least equal to the fair market value (as determined in good faith by the Borrower) of the assets sold or otherwise Disposed of; and
(ii) except in the case of a Permitted Asset Swap, at least 75% of the consideration therefor received by the Borrower or such Restricted Subsidiary, as the case may be, is in the form of cash or Cash Equivalents; provided, that the
amount of: 
 (i)    any liabilities (as shown on the Borrower’s most recent consolidated balance sheet or in the
footnotes thereto or, if incurred or accrued subsequent to the date of such balance sheet, such liabilities that would have been reflected on the Borrower’s consolidated balance sheet or in the footnotes thereto if such incurrence or accrual
had taken place on or prior to the date of such balance sheet, as determined in good faith by the Borrower) of the Borrower or such Restricted Subsidiary, other than liabilities that are by their terms subordinated to the Obligations, that are
assumed by the transferee of any such assets (or are otherwise extinguished by the transferee in connection with the transactions relating to such Disposition) and for which the Borrower and all such Restricted Subsidiaries have been released, 

(ii)    any notes or other obligations or securities received by the Borrower or such Restricted Subsidiary from such
transferee that are converted by the Borrower or such Restricted Subsidiary into cash or Cash Equivalents, or by their terms are required to be satisfied for cash or Cash Equivalents (to the extent of the cash or Cash Equivalents received), in each
case, within 180 days following the date of such Disposition, and 

  
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 (iii)    any Designated Non-cash
Consideration received by the Borrower or such Restricted Subsidiary in such Disposition having an aggregate fair market value (as determined in good faith by the Borrower) taken together with all other Designated
Non-cash Consideration received pursuant to this clause (iii) that is at that time outstanding (but, to the extent that any such Designated
Non-cash Consideration is sold or otherwise liquidated for cash, minus the lesser of (A) the amount of the cash received (less the cost of Disposition, if any) and (B) the initial amount of such
Designated Non-cash Consideration) not to exceed $100.0 million at the time of receipt, with the fair market value (as determined in good faith by the Borrower) of each item of Designated Non-cash Consideration being measured at the time received and without giving effect to subsequent changes in value 

shall be deemed to be cash for purposes of this clause (x) and for no other purpose. 

SECTION 7.05.    Restricted Payments. (a) The Borrower will not, and will not permit any of its Restricted
Subsidiaries to, directly or indirectly: 
 (i)    declare or pay any dividend or make any other payment or
distribution on account of the Borrower’s or any of its Restricted Subsidiaries’ Equity Interests, including any dividend, payment or distribution payable in connection with any merger or consolidation, other than: 

(A)    dividends, payments or distributions payable in Equity Interests (other than Disqualified Stock) of
the Borrower; or 
 (B)    dividends, payments or distributions by a Restricted Subsidiary so long as,
in the case of any dividend, payment or distribution payable on or in respect of any class or series of securities issued by a Restricted Subsidiary other than a Wholly Owned Subsidiary, the Borrower or a Restricted Subsidiary receives at least its
pro rata share of such dividend, payment or distribution in accordance with its Equity Interests in such class or series of securities; 

(ii)    purchase, redeem, repurchase, defease or otherwise acquire or retire for value any Equity Interests of the
Borrower (including in connection with any merger or consolidation), to the extent held by a Person other than the Borrower or a Restricted Subsidiary; 

(iii)    make any principal payment on, or purchase, redeem, repurchase, defease or otherwise acquire or retire for
value, in each case prior to any scheduled repayment, sinking fund payment or maturity, any Subordinated Indebtedness of the Borrower or a Subsidiary Guarantor other than the payment, purchase, redemption, repurchase, defeasance, acquisition or
retirement of: 
 (A)    Indebtedness permitted under Section 7.02(b)(vii); or

 (B)    Subordinated Indebtedness in anticipation of satisfying a sinking fund obligation, principal
installment or final maturity, in each case due within one year of the date of purchase, redemption, repurchase, defeasance, acquisition or retirement; or 

  
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 (iv)    make any Restricted Investment 

(all such payments and other actions set forth in clauses (i) through (iv) above being collectively referred to as “Restricted
Payments”), unless, at the time of such Restricted Payment: 
 (1)    no Default shall have
occurred and be continuing or would occur as a consequence thereof; 
 (2)    immediately after giving
effect to such transaction on a Pro Forma Basis, the Borrower would be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Consolidated Net Leverage Ratio test set forth in Section 7.02(a) for the
most recently ended Test Period for which Required Financial Statements have been delivered; 

(3)    such Restricted Payment, together with the aggregate amount of all other Restricted Payments
made by the Borrower and its Restricted Subsidiaries (and not rescinded or refunded) after the Closing Date (including Restricted Payments permitted by Section 7.05(b)(i) and Section 7.05(b)(xvi),
but excluding all other Restricted Payments permitted by Section 7.05(b)), is less than the sum of (without duplication); 

(A)    (i) 100% of Consolidated Adjusted EBITDA of the Borrower for the period (taken as one accounting
period) beginning on the first day of the fiscal quarter during which the Closing Date occurs to the end of the Borrower’s most recently ended Test Period for which Required financial Statements have been delivered at the time of such
Restricted Payment, minus (ii) the product of (x) 1.4 and (B) Consolidated Interest Expense of the Borrower for the same period (taken as one accounting period); plus 

(B)    100% of the aggregate net cash proceeds and the fair market value (as determined in good faith by
the Borrower) of marketable securities or other property received by the Borrower from the issuance or sale of Equity Interests of the Borrower (other than Disqualified Stock or Refunding Capital Stock (as defined below)) or otherwise contributed to
the equity (other than through an issuance of Disqualified Stock) of the Borrower after the Closing Date (other than an issuance or sale to a Subsidiary of the Borrower or an issuance or sale to an employee stock ownership plan or other trust
established by the Borrower or its Restricted Subsidiaries to the extent funded by the Borrower or its Subsidiaries); plus 

(C)    100% of the aggregate net cash proceeds and the fair market value (as determined in good faith by
the Borrower) of marketable securities or other property received by the Borrower or any Restricted Subsidiary from the issuance or sale (other than to the Borrower or a Restricted Subsidiary or to an employee stock ownership plan or other trust
established by the Borrower or its Subsidiaries to the extent funded by the Borrower or its Restricted Subsidiaries) by the Borrower or any Restricted Subsidiary after the Closing Date of any Indebtedness or Disqualified Stock that has been
converted into or exchanged for Equity 

  
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Interests of the Borrower (other than Disqualified Stock), plus, without duplication, any cash proceeds and the fair market value (as determined in good faith by the Borrower) of
marketable securities or other property received by the Borrower or any Restricted subsidiary upon such conversion or exchange; plus 

(D)    in the event that the Borrower or any Restricted Subsidiary has made or makes any Investment in a
Person subsequent to the Closing Date that, as a result of or in connection with such Investment, becomes a Subsidiary Guarantor, an amount equal to the existing Investment of the Borrower or any Restricted Subsidiary in such Person to the extent it
was previously treated as a Restricted Payment. 
 (b)    The provisions of the preceding
clause (a) will not prohibit any of the following (collectively, “Permitted Payments”): 

(i)    the payment of any dividend or distribution or the consummation of any irrevocable redemption within 60 days
after the date of declaration thereof or the giving of such irrevocable notice, as applicable, if at the date of declaration or the giving of such notice such payment would have complied with the provisions of this Agreement; 

(ii)    the purchase, redemption, defeasance, repurchase, retirement or other acquisition of any Equity Interests of the
Borrower or of Subordinated Indebtedness of any Loan Party, in exchange for, or out of the proceeds of the substantially concurrent issuance or sale (other than to a Restricted Subsidiary or to an employee stock ownership plan or other trust
established by the Borrower or its Restricted Subsidiaries to the extent funded by the Borrower or its Restricted Subsidiaries) of, Equity Interests (other than Disqualified Stock) of the Borrower (collectively, the “Refunding Capital
Stock”); 
 (iii)    the purchase, redemption, defeasance, repurchase, retirement or other acquisition of
(x) Subordinated Indebtedness of any Loan Party made by, in exchange for, or out of the proceeds of the substantially concurrent incurrence of, Indebtedness of any Loan Party or (y) Disqualified Stock of any Loan Party made in exchange
for, or out of the proceeds of the substantially concurrent issuance of Disqualified Stock of any Loan Party, in each case that is incurred in compliance with Section 7.02) so long as: 

(A)    the principal amount (or accreted value, if applicable) of such new Indebtedness or the liquidation
preference of such new Disqualified Stock does not exceed the principal amount of (or accreted value, if applicable), plus any accrued and unpaid interest on, the Subordinated Indebtedness or the liquidation preference of, plus any
accrued and unpaid dividends on, the Disqualified Stock, as applicable, being so purchased, redeemed, defeased, repurchased, retired or acquired for value, plus the amount of any premium required to be paid under the terms of the instrument
governing the Subordinated Indebtedness or Disqualified Stock being so purchased, redeemed, defeased, repurchased, acquired or retired and any fees and expenses incurred in connection with the issuance of such new Indebtedness or Disqualified Stock;

  
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 (B)    such new Indebtedness is subordinated to the Loans or
the applicable Guarantee at least to the same extent as such Subordinated Indebtedness so purchased, redeemed, defeased, repurchased, retired or acquired; 

(C)    such new Indebtedness or Disqualified Stock has a final scheduled maturity date equal to or later
than the final scheduled maturity date of the Subordinated Indebtedness or Disqualified Stock being so purchased, redeemed, defeased, repurchased, retired or acquired; and 

(D)    such new Indebtedness or Disqualified Stock has a Weighted Average Life to Maturity equal to or
greater than the remaining Weighted Average Life to Maturity of the Subordinated Indebtedness or Disqualified Stock being so purchased, exchanged, redeemed, defeased, repurchased, acquired or retired; 

(iv)    a Restricted Payment to pay for the purchase, repurchase, retirement or other acquisition for value of Equity
Interests (other than Disqualified Stock) of the Borrower held by any future, present or former member of management, employee, director or consultant of the Borrower or any of its Subsidiaries pursuant to any management equity plan or stock option
plan or any other management or employee benefit plan or agreement, or any stock subscription or shareholder agreement or upon the termination of such member’s, employee’s, director’s or consultant’s employment or directorship;
provided, however, that the aggregate Restricted Payments made under this Section 7.05(b)(iv) do not exceed in any calendar year $25 million (with unused amounts in any calendar year being carried over
for one additional calendar year); provided further, that such amount in any calendar year may be increased by an amount not to exceed: 

(A)    the cash proceeds from the sale of Equity Interests (other than Disqualified Stock) of the Borrower
to future, present or former members of management, employees, directors or consultants of the Borrower or any of its Subsidiaries that occurs after the Closing Date, to the extent the cash proceeds from the sale of such Equity Interests have not
otherwise been applied to the payment of Restricted Payments by virtue of Section 7.05(a)(iii); plus 

(B)    the cash proceeds of key man life insurance policies received by the Borrower or any of its
Restricted Subsidiaries after the Closing Date; less 
 (C)    the amount of any Restricted
Payments previously made with the cash proceeds described in clauses (A) and (B) of this Section 7.05(b)(iv); 

and provided further, that cancellation of Indebtedness owing to the Borrower or any Restricted Subsidiary from any future, present or former members
of management, employees, directors or consultants of the Borrower or any of the Borrower’s Restricted Subsidiaries in connection with a repurchase of Equity Interests of the Borrower will not be deemed to constitute a Restricted Payment for
purposes of this Section 7.05 or any other provision of this Agreement; 
 (v)    purchases,
redemptions, defeasances, repurchases or other acquisitions of Equity Interests deemed to occur (i) upon exercise of stock options, stock appreciation rights or 

  
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warrants if such Equity Interests represent a portion of the exercise price of such options, stock appreciation rights or warrants or (ii) for purposes of satisfying any required tax
withholding obligation upon the exercise or vesting of a grant or award that was granted or awarded to an employee; 

(vi)    other Restricted Payments in an aggregate amount taken together with all other outstanding Restricted Payments
made pursuant to this Section 7.05(b)(vi), not to exceed $250 million; 

(vii)    distributions or payments of Receivables Fees; 

(viii)    any Restricted Payment attributable to, or arising or made in connection with the Transactions and the fees and
expenses related thereto; 
 (ix)    the repurchase, redemption, defeasance or other acquisition or retirement of
Equity Interests of the Borrower deemed to occur in connection with paying cash in lieu of fractional shares of such Equity Interests in connection with a share dividend, distribution, share split, reverse share split, merger, consolidation,
amalgamation or other business combination of the Borrower or its Subsidiaries, in each case permitted under this Agreement; 

(x)    the repurchase, redemption or other acquisition for value of Equity Interests of the Borrower deemed to occur in
connection with paying cash in lieu of fractional shares of such Equity Interests in connection with a share dividend, distribution, share split, reverse share split, merger, consolidation, amalgamation or other business combination of the Borrower
or its Subsidiaries, in each case permitted under this Agreement; 
 (xi)    the distribution, by dividend or
otherwise, of shares of Capital Stock of, or Indebtedness owed to, the Borrower or a Restricted Subsidiary by Unrestricted Subsidiaries (other than Unrestricted Subsidiaries, the primary assets of which are cash and/or Cash Equivalents); 

(xii)    for any taxable period in which the taxable income of the Borrower and/or any of its Subsidiaries is included in
a consolidated, combined or similar income tax group of which a direct or indirect parent of the Borrower is the common parent (a “Tax Group”), an amount not to exceed the tax liabilities that the Borrower and the applicable
Subsidiaries, in the aggregate, would have been required to pay in respect of such taxable income if such entities were a standalone group of corporations separate from such Tax Group (it being understood and agreed that, if the Borrower or any
Subsidiary pays any portion of such tax liabilities directly to any taxing authority, a Restricted Payment in duplication of such amount shall not be permitted to be made pursuant to this clause (xii); 

(xiii)    the declaration and payment of regularly scheduled or accrued dividends to holders of any class or series of
Disqualified Stock of the Borrower or any Restricted Subsidiary or Preferred Stock of any Restricted Subsidiaries issued or incurred in accordance with Section 7.02; 

(xiv)    payments of cash, or dividends, distributions or advances by the Borrower or any Restricted Subsidiary to allow
the payment of cash in lieu of the issuance of fractional shares upon the exercise of options or warrants or upon the conversion or exchange of Capital Stock of any such Person; 

  
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 (xv)    mandatory redemptions or repurchases of Disqualified Stock the
issuance of which itself constituted a Restricted Payment or Permitted Investment otherwise permissible hereunder; 

(xvi)    any additional Restricted Payments so long as, immediately after giving pro forma effect to the making of
such Restricted Payment (with such pro forma adjustments as are appropriate and consistent with the pro forma adjustments set forth in the definition of “Consolidated Net Leverage Ratio” as determined in good faith by
the Borrower), the Borrower’s Consolidated Net Leverage Ratio is no greater than 3.00 to 1.00. 
 provided, however, that at the time of, and
after giving effect to, any Restricted Payment permitted under clauses (vi), (xi) or (xvi), no Default or Event of Default shall have occurred and be continuing or would occur as a consequence thereof. 

For purposes of clauses (ii) and (iii) above, a Restricted Payment shall be deemed to have been made substantially
concurrently with the applicable event if made or irrevocably committed to be made within 90 days of such event. 
 The amount of all
Restricted Payments (other than cash) shall be the fair market value (as determined in good faith by the Borrower) on the date of such Restricted Payment of the asset(s) or securities proposed to be paid, transferred or issued by the Borrower or
such Restricted Subsidiary, as the case may be, pursuant to such Restricted Payment. 
 SECTION 7.06.    Dividend
and Other Payment Restrictions Affecting Restricted Subsidiaries. The Borrower will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any
consensual encumbrance or consensual restriction on the ability of any Restricted Subsidiary to: 
 (a)    (i) pay
dividends or make any other distributions to the Borrower or any of its Restricted Subsidiaries on its Capital Stock, or with respect to any other interest or participation in, or measured by, its profits, or (ii) pay any Indebtedness owed to
the Borrower or any of its Restricted Subsidiaries; 
 (b)    make loans or advances to the Borrower or any of its
Restricted Subsidiaries; or 
 (c)    sell, lease or transfer any of its properties or assets to the Borrower or any of
its Restricted Subsidiaries 
 except (in each case) for such encumbrances or restrictions existing under or by reason of: 

(1)    contractual encumbrances or restrictions (i) in effect on the Closing Date or (ii) in
effect on the Distribution Date on substantially the terms described in the 2022 Offering Memorandum, including those arising under the Loan Documents; 

  
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 (2)    (i) the Senior Notes Indenture, the Senior Notes and,
in each case, the guarantees thereunder, (ii) the 2025 Senior Notes Indenture, the 2025 Senior Notes and, in each case, the guarantees thereunder and (iii) any agreement governing Indebtedness permitted to be incurred pursuant to
Section 7.02; provided that the provisions relating to restrictions of the type described in clauses (a) through (c) above contained in such agreement, taken as a whole, are (in the good faith
determination of the Borrower) not materially more restrictive than the provisions contained in this Agreement, in the Senior Notes Indenture or in the 2025 Senior Notes Indenture, in each case as in effect when initially executed; 

(3)    purchase money obligations for property acquired in the ordinary course of business and Capitalized
Lease Obligations that impose restrictions of the nature discussed in clause (c) above on the property so acquired or leased; 

(4)    applicable law or any applicable rule, regulation or order; 

(5)    any agreement or other instrument of a Person (including an Unrestricted Subsidiary that becomes a
Restricted Subsidiary whether by redesignation or otherwise) acquired by or merged or consolidated with or into the Borrower or any of its Restricted Subsidiaries in existence at the time of such transaction (but not created in contemplation
thereof), which encumbrance or restriction is not applicable to any Person, or the properties or assets of any Person, other than the Person and its Subsidiaries, or the property or assets of the Person and its Subsidiaries, so acquired; 

(6)    contracts for the sale of assets, including customary restrictions with respect to a Subsidiary of
the Borrower, that impose restrictions solely on the assets to be sold; 
 (7)    any Hedging
Obligations; 
 (8)    Secured Indebtedness otherwise permitted to be incurred pursuant to
Sections 7.01 and 7.02; 
 (9)    restrictions on cash or other deposits
or net worth imposed by leases, customers under contracts or other contracts or agreements entered into in the ordinary course of business; 

(10)    other Indebtedness, Disqualified Stock or Preferred Stock of
Non-Guarantor Subsidiaries permitted to be incurred subsequent to the Closing Date pursuant to Section 7.02; 

(11)     customary provisions in joint venture agreements or arrangements and other similar agreements or
arrangements relating solely to such joint venture; 
 (12)    customary provisions contained in leases, sub-leases, licenses or sub-licenses, permits, contracts and other agreements, in each case, entered into in the ordinary course of business;

  
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 (13)    any agreements entered into in the ordinary course of
business, not relating to Indebtedness and that do not, individually or in the aggregate, materially impair (in the good faith determination of the Borrower) the ability of the Borrower or the Subsidiary Guarantors to pay the principal and interest
owing and unpaid in respect of the Loans, L/C Obligations or any other Obligations; 
 (14)    any
agreement for the sale or other Disposition of all or substantially all the Capital Stock or the assets of a Restricted Subsidiary to the extent it restricts distributions by that Restricted Subsidiary pending such sale or other Disposition; 

(15)    customary provisions imposed on the transfer of copyrighted or patented materials; 

(16)    encumbrances or restrictions relating to the IPC Media Ltd. pension scheme; 

(17)    any encumbrances or restrictions of the type referred to in clauses (a), (b) and
(c) above imposed by any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of the contracts, instruments or obligations referred to in clauses (1) through
(16) above; provided that such amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are, in the good faith determination of the Borrower, no more restrictive in any
material respect with respect to such encumbrance and other restrictions taken as a whole than those prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing; and 

(18)    restrictions created in connection with any Receivables Facility that, in the good faith
determination of the Borrower, are necessary or advisable to effect such Receivables Facility; provided that such restrictions apply only to the applicable Receivables Subsidiary. 

For purposes of determining compliance with this Section 7.06, (i) the priority of any Preferred Stock in receiving dividends
or liquidating distributions prior to dividends or liquidating distributions being paid on common stock will not be deemed a restriction on the ability to make distributions on Capital Stock and (ii) the subordination of loans or advances made
to the Borrower or any Restricted Subsidiary to other Indebtedness incurred by the Borrower or any Restricted Subsidiary will not be deemed a restriction on the ability to make loans or advances. 

SECTION 7.07.    Transactions with Affiliates. (a) The Borrower will not, and will not permit any of its
Restricted Subsidiaries to, make any payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or purchase any property or assets from, or enter into or make or amend any transaction, contract, agreement,
understanding, loan, advance or guarantee with, or for the benefit of, any Affiliate of the Borrower (each of the foregoing, an “Affiliate Transaction”) involving aggregate payments or consideration in excess of $25 million,
unless: 
 (i)    such Affiliate Transaction is on terms, taken as a whole, that are not materially less favorable to
the Borrower or its relevant Restricted Subsidiary than those that would have been obtained in a comparable transaction at the time of such transaction by the Borrower or such Restricted Subsidiary with an unrelated Person on an arm’s-length basis; 

  
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 (ii)    any Affiliate Transaction or series of related Affiliate
Transactions involving aggregate payments or consideration in excess of $50 million is approved by a majority of the Board of Directors of the Borrower; and 

(iii)     the Borrower delivers to the Administrative Agent with respect to any Affiliate Transaction or series of
related Affiliate Transactions involving aggregate payments or consideration in excess of $150 million, an opinion as to the fairness to the Borrower or such Restricted Subsidiary of such Affiliate Transaction from a financial point of view
issued by an Independent Financial Advisor. 
 (b)    The foregoing provisions will not apply to the following: 

(1)    transactions between or among the Borrower and any of its Restricted Subsidiaries (including
transactions between or among the Borrower’s Restricted Subsidiaries) (or an entity that becomes a Restricted Subsidiary as a result of, or in connection with, such transaction, so long as neither such entity nor the selling entity was an
Affiliate of the Borrower or any Restricted Subsidiary prior to such transaction); 
 (2)    Restricted
Payments permitted to be made pursuant to Section 7.05 or Permitted Investments; 

(3)    the payment of reasonable fees and compensation paid to, and indemnities and reimbursements and
employment, benefit and severance arrangements and agreements provided on behalf of, or entered into with, officers, directors, employees or consultants of the Borrower or any of its Restricted Subsidiaries; 

(4)    (i) any agreement or arrangement as in effect as of the Closing Date (or transactions pursuant
thereto), (ii) any other agreements or arrangements (or transactions pursuant thereto) as in effect on the Distribution Date (including the Spin-Off Documents) or pursuant to or in connection with the Spin-Off Documents (including the Transactions) or (iii) any amendment, modification or supplement to the agreements referenced in clause (i) or (ii) above or any replacement thereof, as long
as the terms of such agreement or arrangement, as so amended, modified, supplemented or replaced are not materially more disadvantageous to the Lenders when taken as a whole compared to the applicable agreements or arrangements as in effect on the
Closing Date or as described in the Form 10, as applicable, as determined in good faith by the Borrower; 

(5)    the Transactions, in each case as disclosed in the Form 10, and the payment of all fees and expenses
related to the Transactions; 
 (6)    transactions with customers, clients, suppliers, or purchasers or
sellers of goods or services, or transactions otherwise relating to the purchase or sale of goods or services, in each case in the ordinary course of business and otherwise in compliance with the terms of this Agreement which are fair to the
Borrower and its Restricted Subsidiaries, in the reasonable determination of the Board of Directors of the Borrower or the senior management thereof, or are on terms at least as favorable as might reasonably have been obtained at such time from an
unaffiliated party; 

  
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 (7)    the issuance or transfer of Equity Interests (other
than Disqualified Stock) of the Borrower and the granting of registration and other customary rights in connection therewith; 

(8)    sales of accounts receivable, or participations therein, in connection with any Receivables
Facility; 
 (9)    payments or loans (or cancellation of loans) to employees, directors or consultants
of the Borrower or any of its Restricted Subsidiaries and employment agreements, benefit plans, equity plans, stock option and stock ownership plans and other similar arrangements with such employees, directors or consultants which, in each case,
are approved by the Borrower in good faith; 
 (10)    transactions with joint ventures for the purchase
or sale of goods, equipment and services entered into in the ordinary course of business; 

(11)    transactions in which the Borrower or any Restricted Subsidiary, as the case may be, has delivered
to the Administrative Agent a letter from an Independent Financial Advisor stating that such transaction is fair to the Borrower or such Restricted Subsidiary from a financial point of view or meets the requirements of
Section 7.07(a)(i); 
 (12)    the issuances of securities or other payments,
loans (or cancellation of loans), awards or grants in cash, securities or otherwise pursuant to, or the funding of, employment arrangements, benefit plans, equity plans, stock option and stock ownership plans or similar employee benefit plans
approved by the Board of Directors of the Borrower in good faith; 
 (13)    any transaction with a
Person (other than an Unrestricted Subsidiary) that would constitute an Affiliate Transaction solely because the Borrower or any of its Restricted Subsidiaries owns an Equity Interest in or otherwise controls such Person; 

(14)    any transaction in which the only consideration paid by the Borrower or any of its Restricted
Subsidiaries is in the form of Equity Interest (other than Disqualified Stock) of the Borrower to Affiliates of the Borrower or any contribution to the capital of the Borrower or any Restricted Subsidiary (other than in consideration of Disqualified
Stock); 
 (15)    the provision to Unrestricted Subsidiaries of cash management, accounting, business
and strategic management, legal, human resources, centralized purchasing, leasing and other overhead services (including any necessary or incidental use of equipment, goods or services involving intellectual property that are related to the
foregoing) in the ordinary course of business undertaken in good faith and not for the purpose of circumventing any covenant set forth in this Agreement; 

(16)    intellectual property licenses in the ordinary course of business; 

  
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 (17)    transactions between the Borrower or any of its
Restricted Subsidiaries and any Person that would constitute an Affiliate Transaction solely because a director of which is also a director of the Borrower or any other direct or indirect parent of the Borrower; provided, however, that
such director abstains from voting as a director of the Borrower or such direct or indirect parent of the Borrower, as the case may be, on any matter involving such other Person; 

(18)    payments by the Borrower or any of its Restricted Subsidiaries pursuant to tax sharing agreements
among the Borrower or any of its Restricted Subsidiaries; 
 (19)    intercompany transactions undertaken
in good faith for the purpose of improving the consolidated tax efficiency of the Borrower and its Restricted Subsidiaries and not for the purpose of circumventing any covenant set forth herein, so long as, after giving effect thereto, the security
interest of the Lenders in the Collateral, taken as a whole, is not materially impaired; 
 (20)    prior
to the Spin-Off, (A) any cash management transactions or related transactions between or among the Borrower or any of its Restricted Subsidiaries, on the one hand, and the Parent or any of its other
Subsidiaries, on the other hand, (B) any cancellation of Indebtedness, intercompany accounts, balances, credits or debits between or among the Borrower or any of its Restricted Subsidiaries, on the one hand, and the Parent or any of its other
Subsidiaries, on the other hand, and (C) any other transactions between or among the Borrower or any of its Restricted Subsidiaries, on the one hand, and the Parent or any of its other Subsidiaries, on the other hand, in each case under this
clause (C) in the ordinary course of business. 
 SECTION 7.08.    Financial Covenant. The Borrower shall
not permit the Consolidated Secured Net Leverage Ratio as of the last day of any Test Period to be higher than (x) 2.75 to 1.00 or (y) in the case of any Test Period ending on or after June 30, 2019, 2.50 to 1.00. 

The provisions of this Section 7.08 are for the benefit of the Revolving Credit Lenders only and the Required
Class Lenders for the Revolving Credit Facility may amend, waive or otherwise modify this Section 7.08 or the defined terms used for purposes of this Section 7.08 (but solely for such
purposes) or waive any Default resulting from a breach of this Section 7.08 without the consent of any Lenders other than such Required Class Lenders in accordance with the provisions of clause (iv) of the
second proviso of Section 10.01(a). 
 SECTION 7.09.    Accounting Changes. The
Borrower shall not make any change in its fiscal year; provided, however, that the Borrower may, upon written notice to the Administrative Agent, change its fiscal year to any other fiscal year reasonably acceptable to the
Administrative Agent, in which case, the Borrower and the Administrative Agent will, and are hereby authorized by the Lenders to, make any adjustments to this Agreement that are necessary to reflect such change in fiscal year. 

  
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 SECTION 7.10.    Change in Nature of Business. The Borrower will not,
and will not permit any Restricted Subsidiary to, engage in any business other than Similar Businesses, except as would not be material to the Borrower and its Restricted Subsidiaries, taken as a whole. 

SECTION 7.11.    Sale and Lease-Back Transactions. The Borrower will not, nor will it permit any Restricted
Subsidiary to, directly or indirectly, enter into any Sale and Lease-Back Transaction; provided, that the Borrower or any Restricted Subsidiary may enter into a Sale and Lease-Back Transaction if (a) the Borrower or such Restricted
Subsidiary, as applicable, could have (i) incurred Indebtedness in an amount equal to the Attributable Indebtedness relating to such Sale and Lease-Back Transaction under Section 7.02, (ii) incurred a Lien to secure
such Indebtedness pursuant to Section 7.01 and (b) the transfer of assets in such Sale and Lease-Back Transaction is permitted by Section 7.04. 

SECTION 7.12.    Amendments to Certain Spin-Off Documents. The Borrower
will not permit any amendment to the Separation and Distribution Agreement, the Transition Services Agreement, the Tax Matters Agreement or the Employee Matters Agreement that are materially adverse to the Lenders, as determined in good faith by the
Borrower. 
 SECTION 7.13.    Certain Transactions Prior to the
Spin-Off. Notwithstanding anything to the contrary set forth in this Agreement, in no event at any time prior to the Spin-Off, shall any covenant contained herein
restrict the transactions described in clauses (A) and (B) of Section 7.07(b)(20), in each case entered into in the ordinary course of business. 

ARTICLE VIII 
 EVENTS OF DEFAULT
AND REMEDIES 
 SECTION 8.01.    Events of Default. Any of the following shall constitute an event of default
(an “Event of Default”): 
 (a)    Non-Payment. Any
Loan Party fails to pay (i) when and as required to be paid herein, any amount of principal of any Loan, (ii) within three Business Days after the same becomes due, any interest on any Loan or (iii) within five Business Days after the
same becomes due, any other amount payable hereunder or under any other Loan Document; or 
 (b)    Specific
Covenants. The Borrower fails to perform or observe any term, covenant or agreement contained in any of Sections 6.03(a) or 6.05(a) (solely with respect to the existence of the Borrower),
Section 6.15, or Article VII; provided, that a Default as a result of a breach of Section 7.08 (a “Financial Covenant Event of Default”) shall not
constitute an Event of Default with respect to any Term Loans, Incremental Term Loans or Extended Term Loans unless and until the Revolving Credit Lenders have declared all amounts outstanding under the Revolving Credit Facility to be immediately
due and payable and all outstanding Revolving Credit Commitments to be immediately terminated, in each case in accordance with this Agreement (the “Term Loan Standstill Period”); or 

(c)    Other Defaults. Any Loan Party (other than a Loan Party that is an Immaterial Subsidiary) fails to perform
or observe any other covenant or agreement (not specified in Section 8.01(a) or (b) above) contained in any Loan Document on its part to be performed or observed and such failure continues for 30 days
following the date of receipt by the Borrower of notice thereof from the Administrative Agent (given at the request of any Lender); or 

  
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 (d)    Representations and Warranties. Any representation, warranty
or certification made or deemed made by or on behalf of the Borrower or any other Loan Party (other than a Loan Party that is an Immaterial Subsidiary) herein, in any other Loan Document, or in any document required to be delivered in connection
herewith or therewith shall be incorrect in any material respect when made or deemed made; or 

(e)    Cross-Default. The Borrower or any Restricted Subsidiary (i) fails to make any payment beyond the
applicable grace period with respect thereto, if any (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness (including any outstanding letters of credit thereunder, but other than
Indebtedness hereunder) having an aggregate principal amount of not less than the Threshold Amount, or (ii) fails to observe or perform any other agreement or condition relating to any such Indebtedness, or any other event occurs that would
constitute a default under such Indebtedness (other than, with respect to Indebtedness consisting of Swap Contracts, termination events or equivalent events pursuant to the terms of such Swap Contracts), the effect of which default is to cause, or
to permit the holder or holders of such Indebtedness (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to become due or to be repurchased,
prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be made or require cash collateralization thereof, prior to its stated maturity; provided, that this
clause (e)(ii) shall not apply to secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness, if such sale or transfer is permitted hereunder; or 

(f)    Insolvency Proceedings, Etc. (i) Any Loan Party (other than a Loan Party that is an Immaterial
Subsidiary) or any Material Non-Guarantor Subsidiary institutes or consents to the institution of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies for
or consents to the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator, administrator, administrative receiver or similar officer for it or for all or any material part of its property; or (ii) any receiver,
trustee, custodian, conservator, liquidator, rehabilitator, administrator, administrative receiver or similar officer is appointed without the application or consent of such Loan Party (other than a Loan Party that is an Immaterial
Subsidiary) or Material Non-Guarantor Subsidiary and the appointment continues undischarged or unstayed for 60 calendar days; or (iii) any proceeding under any Debtor Relief Law relating to any Loan
Party (other than a Loan Party that is an Immaterial Subsidiary) or Material Non-Guarantor Subsidiary or to all or any material part of its property is instituted without the consent of such Person and
continues undismissed or unstayed for 60 calendar days, or an order for relief is entered in any such proceeding; or (iv) any Loan Party (other than a Loan Party that is an Immaterial Subsidiary) or any Material Non-Guarantor Subsidiary becomes unable or fails generally to pay its debts as they become due; or 

(g)    Judgments; Attachments. (i) There is entered against any Loan Party (other than a Loan Party
that is an Immaterial Subsidiary) or any Material Non-Guarantor 

  
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Subsidiary a final judgment or order for the payment of money in an aggregate amount exceeding the Threshold Amount (to the extent not covered by independent third-party insurance as to which the
insurer has been notified of such judgment or order and has not disputed coverage) and such judgment or order shall not have been satisfied, vacated, discharged or stayed or bonded pending an appeal for a period of 60 consecutive days; or
(ii) in respect of an obligation in excess of the Threshold Amount, any writ or warrant of attachment or execution or similar process is otherwise issued or levied against all or any material part of the property of the Loan Parties (other than
a Loan Party that is an Immaterial Subsidiary) and any Material Non-Guarantor Subsidiary, taken as a whole, and is not released, vacated or fully bonded within 60 days after its issue or levy; or 

(h)    Invalidity of Guaranties.    Any Guaranty by any Guarantor (other than a Loan Party
that is an Immaterial Subsidiary) pursuant to Article XI hereof shall cease to be, or shall be asserted by any Loan Party (other than a Loan Party that is an Immaterial Subsidiary) not to be, in full force and effect,
except as a result of the release or termination of such Guaranty in accordance with this Agreement; or 

(i)    Change of Control. There occurs any Change of Control; or 

(j)    Collateral Documents. Any Lien created under any Collateral Document on assets of any Loan Party (other
than a Loan Party that is an Immaterial Subsidiary) shall for any reason cease to be a valid Lien, perfected to the extent, and with the priority, required by the Collateral Documents, on and security interest in any material portion of the
Collateral, subject to Liens permitted under Section 7.01, except (i) to the extent that any such loss of perfection or priority results from the failure of the Administrative Agent or the Collateral Agent to maintain
possession of any stock certificate, promissory note or other instrument actually delivered to it under the Collateral Documents or to properly file Uniform Commercial Code financing statements or continuation statements, (ii) as a result of
the release of any Lien or Liens in accordance with the Loan Documents or (iii) to the extent due to foreign Laws, rules and regulations as they relate to pledges of Equity Interests in Foreign Subsidiaries; or 

(k)    ERISA. (i) An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan which has
resulted or would reasonably be expected to result in liability of a Loan Party, a Restricted Subsidiary or any ERISA Affiliate under Title IV of ERISA in an aggregate amount which would reasonably be expected to result in a Material Adverse Effect,
(ii) a Loan Party, any Restricted Subsidiary or any ERISA Affiliate fails to pay when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA
under a Multiemployer Plan in an aggregate amount which would reasonably be expected to result in a Material Adverse Effect, or (iii) with respect to any Foreign Plan, a termination, withdrawal or noncompliance with applicable Law or plan
terms, except as would not reasonably be expected to have a Material Adverse Effect. 
 SECTION 8.02.    Remedies
Upon Event of Default. If any Event of Default occurs and is continuing, the Administrative Agent may and, at the request of the Required Lenders, shall take any or all of the following actions (or, to the extent such Event of Default solely
comprises a Financial Covenant Event of Default, prior to the expiration of the Term Loan Standstill Period, at the request of the Required Class Lenders with respect to the Revolving 

  
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Credit Facility only, and in such case only with respect to the Revolving Credit Loans, Revolving Credit Commitments, and any Letters of Credit): 

(a)    declare the commitment of each Lender to make Loans and any obligation of the L/C Issuers to make L/C Credit
Extensions to be terminated, whereupon such commitments and obligation shall be terminated; 
 (b)    declare the
unpaid principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or
other notice of any kind, all of which are hereby expressly waived by the Loan Parties; 
 (c)    require that the
Borrower Cash Collateralize the L/C Obligations (in an amount equal to the then Outstanding Amount thereof); and 

(d)    exercise on behalf of itself and the Lenders all rights and remedies available to it and the Lenders under the
Loan Documents or applicable Law; 
 provided, that upon the entry of an order for relief with respect to the Borrower under the United States
Bankruptcy Code (11 U.S.C. § 101, et seq.), the obligation of each Lender to make Loans and any obligation of the L/C Issuers to make L/C Credit Extensions shall automatically terminate, the unpaid principal amount of all outstanding Loans and
all interest and other amounts as aforesaid shall automatically become due and payable and the obligation of the Borrower to Cash Collateralize the L/C Obligations as aforesaid shall automatically become effective, in each case without further act
of the Administrative Agent or any Lender. 
 SECTION 8.03.    Application of Funds. After the exercise of
remedies provided for in Section 8.02 (or after the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso
to Section 8.02), any amounts received on account of the Obligations shall be applied by the Administrative Agent in the following order (to the fullest extent permitted by applicable Law): 

First, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (other than principal
and interest, but including Attorney Costs payable under Section 10.04 and amounts payable under Article III) payable to the Administrative Agent or the Collateral Agent in its capacity as such;

 Second, to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal and
interest) payable to the Lenders (including Attorney Costs payable under Section 10.04 and amounts payable under Article III), ratably among them in proportion to the amounts described in this
clause Second payable to them; 
 Third, to payment of that portion of the Obligations constituting accrued and
unpaid interest on the Loans and L/C Borrowings, and any fees, premiums and scheduled periodic payments due under Lines of Credit, Treasury Services Agreements or Secured Hedge Agreements, ratably among the Secured Parties in proportion to the
respective amounts described in this clause Third payable to them; 

  
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Fourth, to payment of that portion of the Obligations constituting unpaid principal of the Loans and L/C Borrowings (including to Cash Collateralize that portion of L/C Obligations
comprised of the aggregate undrawn amount of Letters of Credit), and any breakage, termination or other payments under Lines of Credit, Treasury Services Agreements or Secured Hedge Agreements, ratably among the Secured Parties in proportion to the
respective amounts described in this clause Fourth held by them; 
 Fifth, to the payment of all other
Obligations of the Borrower that are due and payable to the Administrative Agent and the other Secured Parties on such date, ratably based upon the respective aggregate amounts of all such Obligations owing to the Administrative Agent and the other
Secured Parties on such date; and 
 Last, the balance, if any, after all of the Obligations have been paid in full, as directed by
the Borrower or as otherwise required by Law. 
 Subject to Section 2.03(c), amounts used to Cash Collateralize
the aggregate undrawn amount of Letters of Credit pursuant to clause Fifth above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral after all
Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied to the other Obligations, if any, in the order set forth above and, if no Obligations remain outstanding, as directed by the Borrower. 

ARTICLE IX 
 ADMINISTRATIVE AGENT
AND OTHER AGENTS 
 SECTION 9.01.    Appointment and Authority. (a) Each of the Lenders and the L/C Issuers
hereby irrevocably appoints Citibank to act on its behalf as the Administrative Agent and the Collateral Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise
such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. The provisions of this Article (other than Sections 9.07
and 9.09) are solely for the benefit of the Administrative Agent, the Collateral Agent, the Lenders and the L/C Issuers, and neither the Borrower nor any other Loan Party shall have rights as a third party beneficiary of any of such
provisions. 
 (b)    The Administrative Agent shall also act as the Collateral Agent under the Loan Documents, and
each of the Lenders (including in its capacity as a potential Hedge Bank) and the L/C Issuers hereby irrevocably appoints and authorizes the Administrative Agent to act as the agent of such Lender and such L/C Issuer for purposes of acquiring,
holding and enforcing any and all Liens on Collateral granted by any of the Loan Parties to secure any of the Obligations, together with such powers and discretion as are reasonably incidental thereto. In this connection, the Administrative Agent,
as Collateral Agent and any co-agents, sub-agents and attorneys-in-fact appointed by the
Administrative Agent pursuant to Section 9.02 for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Collateral Documents, or for exercising any rights and remedies
thereunder at the direction of the Administrative Agent), shall be entitled to the benefits of all provisions of this Article IX and Article X (including Section 10.04(c), as
though such co-agents, sub-agents and attorneys-in-fact were the Collateral Agent under
the Loan Documents) as if set forth in full herein with respect thereto. 

  
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 SECTION 9.02.    Delegation of Duties. The Administrative Agent may
perform any and all of its duties and exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub-agents appointed by the Administrative Agent. The
Administrative Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions of this Article
shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective activities in
connection with the syndication of the credit facilities provided for herein as well as activities as Administrative Agent. 
 SECTION
9.03.    Exculpatory Provisions. The Administrative Agent shall not have any duties or obligations except those expressly set forth herein and in the other Loan Documents. Without limiting the generality of the foregoing,
the Administrative Agent: 
 (a)    shall not be subject to any fiduciary or other implied duties, regardless of
whether a Default has occurred and is continuing; 
 (b)    shall not have any duty to take any discretionary action or
exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (or such
other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents); provided, that the Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its
counsel, may expose the Administrative Agent to liability or that is contrary to any Loan Document or applicable law; and 

(c)    shall not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and
shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any of its Affiliates in any capacity. 

(d)    The Administrative Agent shall not be liable for any action taken or not taken by it with the consent or at the
request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in
Sections 10.01 and 8.02), in each case in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until notice
describing such Default is given to the Administrative Agent by the Borrower, a Lender or an L/C Issuer. 
 (e)    The
Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any
certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) 

  
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the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity,
enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document, or the creation, perfection or priority of any Lien purported to be created by the Collateral Documents,
(v) the value or the sufficiency of any Collateral, or (v) the satisfaction of any condition set forth in Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be delivered
to the Administrative Agent. 
 SECTION 9.04.    Reliance by Administrative Agent. The Administrative Agent
shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting
or other distribution) reasonably believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and reasonably
believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan, or the issuance of a Letter of Credit, that by its terms
must be fulfilled to the satisfaction of a Lender or an L/C Issuer, the Administrative Agent may presume that such condition is satisfactory to such Lender or such L/C Issuer unless the Administrative Agent shall have received notice to the contrary
from such Lender or L/C Issuer prior to the making of such Loan or the issuance of such Letter of Credit. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts
selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 

SECTION 9.05.    Non-Reliance on Administrative Agent and Other Lenders;
Certain ERISA Matters. (a) Each Lender and L/C Issuer acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information
as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender and L/C Issuer also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender or
any of their Related Parties and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or
any related agreement or any document furnished hereunder or thereunder. 
 (b)    Each Lender (x) represents and
warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative
Agent and each Arranger and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that at least one of the following is and will be true: 

(i)    such Lender is not using “plan assets” (within the meaning of 29 CFR § 2510.3-101, as modified by Section 3(42) of ERISA) of one or more Benefit Plans in connection with the Loans or the Commitments; 

  
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 (ii)    the prohibited transaction exemption set forth in one or more PTEs,
such as PTE 84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain
transactions involving insurance company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE
91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house asset managers), is applicable so as to exempt from the prohibitions of Section 406 of ERISA and Section 4975 of the Code, such Lender’s entrance into, participation in, administration of and
performance of the Loans, the Commitments and this Agreement; 
 (iii)    (A) such Lender is an investment fund managed
by a “Qualified Professional Asset Manager” (within the meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter
into, participate in, administer and perform the Loans, the Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement satisfies the requirements
of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE
84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement; or 

(iv)    such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in
its sole discretion, and such Lender. 
 (c)    In addition, unless sub-clause
(i) in the immediately preceding clause (b) is true with respect to a Lender or such Lender has not provided another representation, warranty and covenant as provided in sub-clause (iv) in the
immediately preceding clause (b), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such
Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and each Arranger and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that: 

(i)    none of the Administrative Agent or the Arrangers or their respective Affiliates is a fiduciary with respect to
the assets of such Lender (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Loan Document or any documents related to hereto or thereto); 

(ii)    the Person making the investment decision on behalf of such Lender with respect to the entrance into,
participation in, administration of and performance of the Loans, the Commitments and this Agreement is independent (within the meaning of 29 CFR § 2510.3-21) and is a bank, an insurance carrier, an
investment adviser, a broker-dealer or other person that holds, or has under management or control, total assets of at least $50 million, in each case as described in 29 CFR §
2510.3-21(c)(1)(i)(A)-(E); 

  
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 (iii)    the Person making the investment decision on behalf of such Lender
with respect to the entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement is capable of evaluating investment risks independently, both in general and with regard to particular
transactions and investment strategies (including in respect of the Loan Document Obligations); 
 (iv)    the Person
making the investment decision on behalf of such Lender with respect to the entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement is a fiduciary under ERISA or the Code, or both, with
respect to the Loans, the Commitments and this Agreement and is responsible for exercising independent judgment in evaluating the transactions hereunder; and 

(v)    no fee or other compensation is being paid directly to the Administrative Agent or any Arranger or any their
respective Affiliates for investment advice (as opposed to other services) in connection with the Loans, the Commitments or this Agreement. 

(d)    The Administrative Agent and each Arranger hereby informs the Lenders that each such Person is not undertaking to
provide impartial investment advice, or to give advice in a fiduciary capacity, in connection with the transactions contemplated hereby, and that such Person has a financial interest in the transactions contemplated hereby in that such Person or an
Affiliate thereof (i) may receive interest or other payments with respect to the Loans, the Commitments and this Agreement, (ii) may recognize a gain if it extended the Loans or the Commitments for an amount less than the amount being paid
for an interest in the Loans or the Commitments by such Lender or (iii) may receive fees or other payments in connection with the transactions contemplated hereby, the Loan Documents or otherwise, including structuring fees, commitment fees,
arrangement fees, facility fees, upfront fees, underwriting fees, ticking fees, agency fees, administrative agent or collateral agent fees, utilization fees, minimum usage fees, letter of credit fees, fronting fees, deal-away or alternate
transaction fees, amendment fees, processing fees, term out premiums, banker’s acceptance fees, breakage or other early termination fees or fees similar to the foregoing. 

SECTION 9.06.    Rights as a Lender. The Person serving as the Administrative Agent hereunder shall have the same
rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent and the term “Lender” or “Lenders” shall, unless otherwise expressly
indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or
in any other advisory capacity for and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent hereunder and without any duty to account therefor to
the Lenders. 
 SECTION 9.07.    Resignation of Administrative Agent. The Administrative Agent may at any time
give notice of its resignation to the Lenders, the L/C Issuers and the Borrower. Upon receipt of any such notice of resignation, the Required Lenders shall have the right, with the Borrower’s consent (which shall not be unreasonably withheld or
delayed and, if an Event of Default has occurred and is continuing, shall not be required), to appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of any such bank with

  
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an office in the United States. If no such successor shall have been so appointed by the Required Lenders (with the consent of the Borrower, if so required) and shall have accepted such
appointment within 30 days after the retiring Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may (with the Borrower’s consent, as aforesaid) on behalf of the Lenders and the L/C Issuers,
appoint a successor Administrative Agent meeting the qualifications set forth above; provided, that if, after the expiry of such 30 day period, the Administrative Agent shall notify the Borrower and the Lenders that no qualifying Person
has accepted such appointment and that it elects that its resignation become effective, then such resignation shall nonetheless become effective in accordance with such notice and (a) the retiring Administrative Agent shall be discharged from
its duties and obligations hereunder and under the other Loan Documents (except that in the case of any collateral security held by the Administrative Agent on behalf of the Lenders or the L/C Issuers under any of the Loan Documents, the retiring
Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative Agent is appointed) and (b) all payments, communications and determinations provided to be made by, to or through the
Administrative Agent shall instead be made by or to each Lender and the L/C Issuers directly (or, in the case of determinations, by the Required Lender), until such time as the Required Lenders appoint a successor Administrative Agent as provided
for above in this Section. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired)
Administrative Agent, and the retiring Administrative Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this Section). The fees
payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the retiring Administrative Agent’s resignation hereunder
and under the other Loan Documents, the provisions of this Article and Section 10.04 shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and
their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while the retiring Administrative Agent was acting as Administrative Agent. 

Any resignation by Citibank as Administrative Agent pursuant to this Section 9.07 shall also constitute its
resignation as a L/C Issuer, unless it remains a Lender; provided that, if Citibank does not remain a Lender (i) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of Citibank as
retiring L/C Issuer and (ii) Citibank shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents as an L/C Issuer except with respect to Letters of Credit previously issued by it. 

SECTION 9.08.    Administrative Agent May File Proofs of Claim. In case of the pendency of any proceeding under
any Debtor Relief Law or any other judicial proceeding relative to any Loan Party, the Administrative Agent (irrespective of whether the principal of any Loan or L/C Obligation shall then be due and payable as herein expressed or by declaration or

  
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otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and empowered, by intervention in such proceeding or otherwise: 

(a)    to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the
Loans, L/C Obligations and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders, the L/C Issuers and the Administrative Agent (including any
claim for the reasonable compensation, expenses, disbursements and advances of the Lenders, the L/C Issuers and the Administrative Agent and their respective agents and counsel and all other amounts to the extent due to the Lenders, the L/C Issuers
and the Administrative Agent under Sections 2.03(h) and (i), 2.08 and 10.04) allowed in such judicial proceeding; and 

(b)    to collect and receive any monies or other property payable or deliverable on any such claims and to distribute
the same; 
 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby
authorized by each Lender and L/C Issuer to make such payments to the Administrative Agent and, if the Administrative Agent shall consent to the making of such payments directly to the Lenders and the L/C Issuers, to pay to the Administrative Agent
any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other amounts due to the Administrative Agent under Sections 2.08 and
10.04. 
 Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or
adopt on behalf of any Lender or any L/C Issuer any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or any L/C Issuer to authorize the Administrative Agent to vote in respect of
the claim of any Lender or any L/C Issuer or in any such proceeding. 
 SECTION 9.09.    Collateral and Guaranty
Matters. Each of the Lenders (including in its capacity as a potential Hedge Bank) and each L/C Issuer irrevocably authorize the Collateral Agent: 

(a)    to release any Lien on any property granted to or held by the Administrative Agent under any Loan Document
(i) upon termination of the Aggregate Commitments and payment in full of all Obligations (other than (A) contingent indemnification obligations and (B) obligations and liabilities under Lines of Credit, Treasury Services Agreements
and Secured Hedge Agreements, except as to amounts that are due and payable thereunder for which the Administrative Agent has received a written notice from the applicable Hedge Bank) and the expiration or termination of all Letters of Credit (other
than Letters of Credit that have been Cash Collateralized or back-stopped by a letter of credit, or are otherwise subject to arrangements, in each case reasonably satisfactory to the applicable L/C Issuer), (ii) that is sold or to be sold or
otherwise transferred as part of or in connection with any sale or other transfer permitted hereunder or under any other Loan Document to a Person that is not a Loan Party, (iii) that constitutes “Excluded Assets” (as such term is
defined in the Security Agreement), (iv) if approved, authorized or ratified in writing in accordance with Section 10.01, (v) if the property subject to such Lien is owned by a Guarantor, upon release of such Guarantor from
its obligations under its Guaranty pursuant to clause (b) below or (vi) upon the terms of the Collateral Documents or the Intercreditor Agreement (if in effect), Second Lien Intercreditor Agreement (if in
effect), or any other intercreditor agreement entered into pursuant hereto; 

  
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 (b)    to release any Guarantor from its obligations under the Guaranty
(i) if such Person ceases to be a Subsidiary as a result of a transaction permitted hereunder, or becomes an Excluded Subsidiary or an Unrestricted Subsidiary or (ii) upon termination of the Aggregate Commitments and payment in full of all
Obligations (other than (A) contingent indemnification obligations and (B) obligations and liabilities under Lines of Credit, Treasury Services Agreements and Secured Hedge Agreements, except as to amounts that are due and payable
thereunder for which the Administrative Agent has received a written notice from the applicable Hedge Bank) and the expiration or termination of all Letters of Credit (other than Letters of Credit that have been Cash Collateralized or back-stopped
by a letter of credit, or are otherwise subject to arrangements, in each case reasonably satisfactory to the applicable L/C Issuer); and 

(c)    to subordinate any Lien on any property granted to or held by the Administrative Agent or Collateral Agent under
any Loan Document to the holder of any Lien on such property that is permitted by Section 7.01(6) (but solely in the case of Indebtedness incurred pursuant to clause (iv) of
Section 7.02(b)). 
 Upon request by the Administrative Agent or the Collateral Agent at any time, the Lenders
will confirm in writing the Administrative Agent’s authority to release or subordinate its interest in particular types or items of property, or to release any Guarantor from its obligations under the Guaranty pursuant to this
Section 9.09. The Administrative Agent or the Collateral Agent, as applicable, will, at the Borrower’s expense, execute and deliver to the Borrower such documents as the Borrower may reasonably request to evidence the
release of any item of Collateral from the assignment and security interest granted under the Collateral Documents or to subordinate its interest in such item, or to release any Loan Party from its obligations under the Guaranty, in each case in
accordance with the terms of the Loan Documents and this Section 9.09. 
 Notwithstanding the foregoing, if, in
compliance with the terms and provisions of Section 7.04 hereof, any portion of the Collateral is sold or otherwise transferred to a Person or Persons, none of which is a Loan Party, then such portion of the Collateral
shall, upon the consummation of such sale or transfer, be automatically released from the Lien of the Collateral Agent pursuant to any Collateral Document. 

The Lenders hereby authorize the Administrative Agent and Collateral Agent, as applicable, to enter into any Intercreditor Agreement, any
Second Lien Intercreditor Agreement or other intercreditor agreement or arrangement permitted under this Agreement and the Lenders acknowledge that any such intercreditor agreement shall be binding upon the Lenders. The Administrative Agent and
Collateral Agent, as applicable, agree, upon the request of the Borrower and at the Borrower’s expense, to negotiate in good faith and enter into any Intercreditor Agreement, any Second Lien Intercreditor Agreement or other intercreditor
agreement or arrangement permitted under this Agreement. 
 SECTION 9.10.    No Other Duties, Etc. Anything
herein to the contrary notwithstanding, none of the Arrangers, Syndication Agent, Documentation Agents, Senior Co-Manager or Co-Manager shall have any powers, duties or
responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the Administrative Agent, a Lender or an L/C Issuer hereunder. 

  
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 SECTION 9.11.    Lines of Credit, Treasury Services Agreements and
Secured Hedge Agreements. No Hedge Bank that obtains the benefits of Section 8.03, the Guaranty or any Collateral Document by virtue of the provisions hereof or of the Guaranty or any Collateral Document shall have any
right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral (including the release or impairment of any Collateral) other than in its capacity as
a Lender and, in such case, only to the extent expressly provided in the Loan Documents. Notwithstanding any other provision of this Article IX to the contrary, the Administrative Agent shall not be required to verify the
payment of, or that other satisfactory arrangements have been made with respect to, Obligations arising under Lines of Credit, Treasury Services Agreements and Secured Hedge Agreements unless the Administrative Agent has received written notice of
such Obligations, together with such supporting documentation as the Administrative Agent may request, from the applicable Hedge Bank, as the case may be. 

SECTION 9.12.    Withholding Tax. To the extent required by any applicable Laws (as determined in good faith by
the Administrative Agent), the Administrative Agent may withhold from any payment to any Lender under any Loan Document an amount equivalent to any applicable withholding Tax. Without limiting or expanding the provisions of
Section 3.01, each Lender shall indemnify and hold harmless the Administrative Agent against, and shall make payment in respect thereof within 10 days after demand therefor, any and all Taxes and any and all related losses,
claims, liabilities and expenses (including fees, charges and disbursements of any counsel for the Administrative Agent) incurred by or asserted against the Administrative Agent by the IRS or any other Governmental Authority as a result of the
failure of the Administrative Agent to properly withhold Tax from amounts paid to or for the account of such Lender for any reason (including because the appropriate form was not delivered or not properly executed, or because such Lender failed to
notify the Administrative Agent of a change in circumstance that rendered the exemption from, or reduction of, withholding Tax ineffective). A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative
Agent shall be conclusive absent demonstrable error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under this Agreement or any other Loan Document against any amount
due the Administrative Agent under this Section 9.12. The agreements in this Section 9.12 shall survive the resignation and/or replacement of the Administrative Agent, any assignment of rights by,
or the replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all other Obligations. For the avoidance of doubt, the term “Lender” shall, for purposes of this
Section 9.12, include any L/C Issuer. 
 ARTICLE X 

MISCELLANEOUS 
 SECTION
10.01.    Amendments, Etc. (a) Except as otherwise set forth in this Agreement, none of this Agreement, any Loan Document or any provision hereof or thereof may be waived, amended or modified except, in the case of
this Agreement, pursuant to an agreement or agreements in writing entered into by the Borrower and the Required Lenders or, in the case of any other Loan Document, pursuant to an agreement or agreements in writing entered into by

  
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the Administrative Agent and the Loan Party or Loan Parties that are parties thereto, in each case with the consent of the Required Lenders; provided that: 

(i)    any provision of this Agreement or any other Loan Document may be amended by an agreement in writing entered into
by the Borrower and the Administrative Agent to cure any ambiguity, omission, defect or inconsistency so long as, in each case, the Lenders shall have received at least five Business Days’ prior written notice thereof and the Administrative
Agent shall not have received, within five Business Days of the date of such notice to the Lenders, a written notice from the Required Lenders stating that the Required Lenders object to such amendment; 

(ii)     no such agreement shall: 

(A)    increase any Commitment of any Lender without the written consent of such Lender; 

(B)    except as expressly provided otherwise in the definition of Eurocurrency Rate, reduce or forgive
the principal amount of any Loan or payment obligation in respect of any L/C Obligation or reduce the rate of interest thereon, or reduce any fees payable hereunder, without the written consent of each Lender directly and adversely affected thereby;
provided that only the consent of the Required Lenders shall be necessary to waive any obligation of the Borrower to pay interest at the Default Rate or change the amount of the Default Rate; 

(C)    postpone the maturity of any Loan, or the required date of reimbursement of any L/C Obligation, or
any date for the payment of any interest or fees payable hereunder, or reduce the amount of, waive or excuse any such payment, or postpone the scheduled date of expiration of any Commitment, without the written consent of each Lender directly and
adversely affected thereby (it being understood that the waiver of any Default or any mandatory prepayment shall not constitute a postponement, waiver or excuse of any payment of principal, interest, fees or other amounts); provided that only
the consent of the Required Lenders shall be necessary to waive any obligation of the Borrower to pay interest at the Default Rate or change the amount of the Default Rate; 

(D)    change Section 2.11(g) or 2.12 in a manner that would alter the
pro rata sharing of payments required thereby, or the definition of “Pro Rata Share”, in each case, without the written consent of each Lender; 

(E)    change any of the provisions of this Section or the percentage set forth in the definition of
“Required Lenders”, “Required Class Lenders” or any other provision of any Loan Document specifying the number or percentage of Lenders (or Lenders of any Class) required to waive, amend or modify
any rights hereunder or thereunder or make any determination or grant any consent hereunder or thereunder, without the written consent of each Lender (or each Lender of such Class, as the case may be); 

  
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 (F)    release all or substantially all of the Collateral in
any transaction or series of related transactions, without the written consent of each Lender; 

(G)    release all or substantially all of the aggregate value of the Guarantees, without the written
consent of each Lender; 
 (H)    change any provision of any Loan Document in a manner that by its
terms adversely affects the rights in respect of payments or prepayments due to Lenders with Commitments or Obligations of any Class differently than those with Commitments or Obligations of any other Class without the written consent of
the Required Class Lenders of the adversely affected Class; or 
 (I)    change any of the
provisions of Section 8.03, without the written consent of each Lender adversely affected thereby; 
 provided further that
(i) no such agreement shall amend, modify or otherwise affect the rights or duties of any Agent or any L/C Issuer without the prior written consent of such Agent or such L/C Issuer, as the case may be; (ii) any waiver, amendment or
modification of this Agreement that by its terms affects the rights or duties under this Agreement of one Class (but not of the other Classes) may be effected by an agreement or agreements in writing entered into by the Borrower and the requisite
percentage in interest of the affected Lenders of such Class; (iii) Section 10.06(h) may not be amended, waived or otherwise modified without the consent of each Granting Lender all or any part of whose Loans are being funded by an
SPC at the time of such amendment, waiver or other modification; and (iv) no amendment, waiver or consent shall be made to modify Section 7.08 or any definition related thereto (as any such definition is used for
purposes of Section 7.08) or waive any Default or Event of Default resulting from a failure to perform or observe the requirements of Section 7.08 without the written consent of the Required
Class Lenders under the Revolving Credit Facility; provided, however, that the waivers described in this clause (iv) shall not require the consent of any Lenders other than the Required Class Lenders under such
Facility; and 
 (iii)    the Administrative Agent and the Borrower (without the consent or approval of another Person)
are expressly permitted to amend this Agreement and the other Loan Documents and to enter into customary intercreditor agreements as they determine to be necessary or appropriate to provide for the pari passu treatment of obligations secured by a
Lien on the Collateral as provided for under Section 7.01(20). 
 (b)    Notwithstanding the
foregoing, no consent with respect to any amendment, waiver or other modification of this Agreement or any other Loan Document shall be required of any Defaulting Lender, except that (i) the Commitment of such Defaulting Lender may not be
increased or extended, (ii) the maturity date of any Loan held by such Defaulting Lender may not be extended and (iii) the principal or interest in respect of any Loans held by such Defaulting Lender shall not be reduced or forgiven, in
each case without the consent of such Defaulting Lender (it being understood that any Commitments or Loans held or deemed held by any Defaulting Lender shall be excluded for a vote of the Lenders hereunder requiring any consent of the Lenders).

  
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 (c)    Notwithstanding the foregoing, any provision of this Agreement may be
amended by an agreement in writing entered into by the Borrower, the Required Lenders and the Administrative Agent (and, if their rights or obligations are affected thereby, the other Agents and the L/C Issuers) if (i) by the terms of such
agreement the Commitments of each Lender not consenting to the amendment provided for therein shall terminate upon the effectiveness of such amendment and (ii) at the time such amendment becomes effective, each Lender not consenting thereto
receives payment in full of the principal of and interest accrued on each Loan owed to it and all other amounts owing to it or accrued for its account under this Agreement. 

(d)    Notwithstanding the foregoing, this Agreement may be amended (or amended and restated) with the written consent of
the Required Lenders, the Administrative Agent and the Borrower (a) to add one or more additional Classes of credit facilities to this Agreement and to permit the extensions of credit from time to time outstanding thereunder and the accrued
interest and fees in respect thereof to share ratably in the benefits of this Agreement and the other Loan Documents with the Term Loans and the Revolving Credit Loans and the accrued interest and fees in respect thereof and (b) to include
appropriately the Lenders holding such credit facilities in any determination of the Required Lenders. Notwithstanding anything to the contrary herein, this Agreement and the other Loan Documents may be amended as set forth in
Section 2.13, Section 2.14 and Section 2.15. 

(e)    If any Lender does not consent to a proposed amendment, waiver, consent or release with respect to any Loan
Document that requires the consent of such Lender or each adversely affected Lender and that has been approved by the Required Lenders or Required Class Lenders (as applicable), the Borrower may replace such
non-consenting Lender in accordance with Section 10.13. 

(f)    Notwithstanding anything in this Section 10.01 or in the definition of “Required Lenders” to the
contrary, for purposes of determining whether the Required Lenders have (i) consented (or not consented) to any amendment, modification, waiver, consent or other action with respect to any of the terms of any Loan Document or any departure by
any Loan Party therefrom, (ii) otherwise acted on any matter related to any Loan Document or (iii) directed or required the Administrative Agent or any Lender to undertake any action (or refrain from taking any action) with respect to or
under any Loan Document, no Affiliated Lender shall have any right to consent (or not consent), otherwise act or direct or require the Administrative Agent or any Lender to take (or refrain from taking) any such action and the Total Outstandings,
aggregate unused Term Commitments and aggregate unused Revolving Credit Commitments held by any Affiliated Lenders shall be deemed to be not outstanding for all purposes of calculating whether the Required Lenders have taken any actions. In
addition, notwithstanding anything to the contrary contained herein, no Affiliated Lender shall have any right to (i) attend (including by telephone) any meeting or discussions (or portion thereof) among the Administrative Agent or any Lender
to which representatives of the Borrower are not then present or (ii) receive any information or material prepared by the Administrative Agent or any Lender or any communication by or among Administrative Agent and one or more Lenders, except
to the extent such information or materials have been made available to the Borrower or its representatives (and in any case, other than the right to receive notices of prepayments and other administrative notices in respect of its Loans required to
be delivered to Lenders pursuant to Article II). 

  
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 SECTION 10.02.    Notices; Effectiveness; Electronic Communications.
(a) Notices Generally. Except in the case of notices and other communications expressly permitted to be given by telephone (and except as provided in clause (b) below), all notices and other communications
provided for herein shall be in writing (including by electronic communication) and shall be delivered as follows, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable
telephone number, as follows: 
 (i)    if to the Borrower or the Administrative Agent, to the address, telecopier
number, electronic mail address or telephone number specified for such Person on Schedule 10.02; and 

(ii)    if to any Lender or L/C Issuer, to the address, telecopier number, electronic mail address or telephone number
specified in its Administrative Questionnaire (including, as appropriate, notices delivered solely to the Person designated by a Lender or L/C Issuer on its Administrative Questionnaire then in effect for the delivery of notices that may contain
material non-public information relating to the Borrower). 
 Notices and other communications sent by hand or overnight courier
service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices and other communications sent by telecopier shall be deemed to have been given when sent (except that, if not given during normal business
hours for the recipient, shall be deemed to have been given at the opening of business on the next business day for the recipient). Notices and other communications delivered through electronic communications to the extent provided in
clause (b) below shall be effective as provided in such clause (b). 

(b)    Electronic Communications. Notices and other communications to the Lenders and the L/C Issuers hereunder
may be delivered or furnished by electronic communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent; provided, that the foregoing
shall not apply to notices to any Lender or any L/C Issuer pursuant to Article II if such Lender or such L/C Issuer, as applicable, has notified the Administrative Agent that it is incapable of receiving notices under such
Article by electronic communication. The Administrative Agent or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it,
provided, that approval of such procedures may be limited to particular notices or communications. 
 Unless the Administrative
Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such
as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement); provided, that if such notice or other communication is not sent during the normal
business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next business day for the recipient, and (ii) notices or communications posted to an Internet or intranet website
shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause (i) of notification that such notice or communication is
available and identifying the website address therefor. 

  
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 (c)    The Platform. THE PLATFORM IS PROVIDED “AS IS” AND
“AS AVAILABLE.” THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER
MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR
OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any of its Related Parties (collectively, the “Agent Parties”) have any
liability to the Borrower, any Lender, any L/C Issuer or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of the Borrower’s or the Administrative
Agent’s transmission of Borrower Materials through the Internet, except to the extent that such losses, claims, damages, liabilities or expenses are determined by a court of competent jurisdiction by a final and nonappealable judgment to have
resulted from the gross negligence or willful misconduct of such Agent Party; provided, however, that in no event shall any Agent Party have any liability to the Borrower, any Lender, any L/C Issuer or any other Person for indirect,
special, incidental, consequential or punitive damages (as opposed to direct or actual damages). 
 (d)    Change of
Address, Etc. Each of the Borrower or the Administrative Agent may change its address, telecopier or telephone number for notices and other communications hereunder by notice to the other parties hereto. Each Lender and L/C Issuer may change its
address, telecopier or telephone number for notices and other communications hereunder by notice to the Borrower and the Administrative Agent. In addition, each Lender agrees to notify the Administrative Agent from time to time to ensure that the
Administrative Agent has on record (i) an effective address, contact name, telephone number, telecopier number and electronic mail address to which notices and other communications may be sent and (ii) accurate wire instructions for such
Lender. Furthermore, each Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at all times have selected the “Private Side Information” or similar designation on the content declaration screen of
the Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender’s compliance procedures and applicable Law, including United States Federal and state securities Laws, to make reference to Borrower
Materials that are not made available through the “Public Side Information” portion of the Platform and that may contain material non-public information with respect to the Borrower or its securities
for purposes of United States Federal or state securities laws. 
 (e)    Reliance by the Agents, L/C Issuer and
Lenders. The Administrative Agent, the Collateral Agent, the L/C Issuers and the Lenders shall be entitled to rely and act upon any notices (including telephonic Committed Loan Notices) purportedly given by or on behalf of the Borrower even if
(i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any
confirmation thereof. The Borrower shall indemnify the Administrative Agent, the Collateral Agent, each L/C Issuer, each Lender and the Related Parties of each of them from all losses, costs, expenses and liabilities

  
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resulting from the reliance by such Person on each notice purportedly given by or on behalf of the Borrower in the absence of gross negligence or willful misconduct by such Person. All telephonic
notices to and other telephonic communications with the Administrative Agent or the Collateral Agent, may be recorded by the Administrative Agent or the Collateral Agent, and each of the parties hereto hereby consents to such recording. 

SECTION 10.03.    No Waiver; Cumulative Remedies; Enforcement. No failure by any Lender or the Administrative
Agent or the Collateral Agent to exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder or under any other Loan Document shall operate as a waiver thereof; nor shall any single or partial exercise of
any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided, and provided under each other
Loan Document, are cumulative and not exclusive of any rights, remedies, powers and privileges provided by Law. 
 Notwithstanding anything
to the contrary contained herein or in any other Loan Document, the authority to enforce rights and remedies hereunder and under the other Loan Documents against the Loan Parties or any of them shall be vested exclusively in, and all actions and
proceedings at law in connection with such enforcement shall be instituted and maintained exclusively by, the Administrative Agent in accordance with Section 8.02 for the benefit of all the Lenders and the L/C Issuers;
provided, however, that the foregoing shall not prohibit (a) the Administrative Agent from exercising on its own behalf the rights and remedies that inure to its benefit (solely in its capacity as Administrative Agent) hereunder
and under the other Loan Documents, (b) any L/C Issuer from exercising the rights and remedies that inure to its benefit (solely in its capacity as L/C Issuer) hereunder and under the other Loan Documents, (c) any Lender from exercising
setoff rights in accordance with Section 10.08 (subject to the terms of Section 2.12), or (d) any Lender from filing proofs of claim or appearing and filing pleadings on its own behalf during
the pendency of a proceeding relative to any Loan Party under any Debtor Relief Law; and provided, further, that if at any time there is no Person acting as Administrative Agent hereunder and under the other Loan Documents, then
(i) the Required Lenders shall have the rights otherwise ascribed to the Administrative Agent pursuant to Section 8.02 and (ii) in addition to the matters set forth in clauses (b), (c) and
(d) of the preceding proviso and subject to Section 2.12, any Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to it and as authorized by the Required Lenders. 

SECTION 10.04.    Expenses; Indemnity; Damage Waiver. (a) Costs and Expenses. The Borrower shall pay
(i) all reasonable and documented out-of-pocket expenses incurred by the Administrative Agent and its Affiliates (including the reasonable fees, disbursements and
other charges of a single firm of counsel for the Administrative Agent, and if reasonably required by the Administrative Agent, local or specialist firms of counsel (which may include a single firm of counsel acting in multiple jurisdictions)), in
connection with the syndication of the credit facilities provided for herein, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents or any amendments, modifications or waivers of the
provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated); (ii) all reasonable and documented out-of-pocket
expenses incurred by an L/C Issuer in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder; 

  
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and (iii) after the occurrence and during the continuance of an Event of Default, all reasonable and documented
out-of-pocket expenses incurred by the Administrative Agent, any Lender or any L/C Issuer (including the reasonable fees, disbursements and other charges of legal
counsel for the Administrative Agent, the Lenders and the L/C Issuers) in connection with the enforcement or protection of its rights in connection with this Agreement and the Loans made or Letters of Credit issued hereunder, including all out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit; provided that reasonable fees,
disbursements and other charges of such legal counsel shall be limited to (x) one primary firm of counsel for the Administrative Agent, the Lenders and the L/C Issuers and, if reasonably required by the Administrative Agent, local or specialist
firms of counsel (which may include a single firm of counsel acting in multiple jurisdictions) and (y) if there is an actual or perceived conflict of interest that requires separate representation for any Lender and such Lender informs the
Borrower of such conflict, in which case such Lender and those Lenders similarly affected shall, as a whole, be entitled to one separate firm of counsel and, to the extent reasonably necessary, local or specialist firms of counsel (which may include
a single firm of counsel acting in multiple jurisdictions). 
 (b)    Indemnification by the Borrower. The
Borrower shall indemnify the Administrative Agent (and any sub-agent thereof), the Collateral Agent, the Syndication Agent, each Documentation Agent, the Senior
Co-Manager, the Co-Manager, each Arranger, each Lender and each L/C Issuer, and each Related Party of any of the foregoing Persons (each such Person being called an
“Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages and liabilities of any kind or nature and reasonable, documented and invoiced out-of-pocket fees and expenses (including the reasonable and documented out-of-pocket legal expenses of (x) one firm of
counsel for all such Indemnitees, taken as a whole, and, if necessary, of a single firm of local counsel in each appropriate jurisdiction (which may include a single firm of special counsel acting in multiple jurisdictions) for all such affected
Indemnitees, taken as a whole and (y) if there is an actual or perceived conflict of interest that requires separate representation for any Indemnitee and such Indemnitee informs the Borrower of such conflict, one separate firm of counsel and,
to the extent reasonably necessary, local or specialist firms of counsel (which may include a single firm of counsel acting in multiple jurisdictions) for such Indemnitee and similarly affected Indemnitees, taken as a whole), incurred by any
Indemnitee or asserted against any Indemnitee by any third party or by the Borrower or any other Loan Party arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any
agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby (including in connection
with the arranging and syndication of the credit facilities provided for herein), or, in the case of the Administrative Agent (and any sub-agent thereof) and its Related Parties only, the administration of
this Agreement and the other Loan Documents; (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any L/C Issuer to honor a demand for payment under a Letter of Credit if the documents
presented in connection with such demand do not strictly comply with the terms of such Letter of Credit); (iii) any actual or alleged presence or Release of Hazardous Materials at, on, under or emanating from any property owned, leased or operated
by the Borrower or any of its Subsidiaries, or any Environmental Liability related in any way to the Borrower or any of its Subsidiaries; or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the

  
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foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower or any other Loan Party or any of the Borrower’s or such Loan Party’s
directors, shareholders or creditors, and regardless of whether any Indemnitee is a party thereto; provided, that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or
related expenses (x) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from (A) the gross negligence, bad faith or willful misconduct of such Indemnitee or any of its Related Parties
or (B) any material breach of the obligations of such Indemnitee or any of its Related Parties under the Loan Documents; (y) result from any such proceeding that does not involve an act or omission by the Borrower or any Restricted
Subsidiary and that is brought by an Indemnitee against another Indemnitee (other than disputes involving claims against any Agent in its capacity as such) or (z) are incurred by an Indemnitee not acting in its capacity hereunder as a Lender,
Agent, L/C Issuer or Related Party of any of the foregoing. This Section 10.04(b) shall not apply with respect to Taxes. 

(c)    Reimbursement by Lenders. To the extent that the Borrower for any reason fails to indefeasibly pay any
amount required under clause (a) or (b) of this Section to be paid by it to an Agent (or any sub-agent thereof), any L/C Issuer or any Related Party of any of the
foregoing, each Lender severally agrees to pay to such Agent (or any such sub-agent), such L/C Issuer or such Related Party, as the case may be, such Lender’s Applicable Percentage (determined as of the
time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by
or asserted against such Agent (or any such sub-agent) or L/C Issuer in its capacity as such, or against any Related Party of any of the foregoing acting for such Agent (or any such sub-agent) or L/C Issuer in connection with such capacity. The obligations of the Lenders under this clause (c) are subject to the provisions of Section 2.11(e).

 (d)    Waiver of Consequential Damages, Etc. To the fullest extent permitted by applicable law, the Borrower
shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result
of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof. No Indemnitee referred to in
clause (b) above shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed to such unintended recipients by such Indemnitee through telecommunications,
electronic or other information transmission systems in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby other than for direct or actual damages resulting from the gross negligence or
willful misconduct of such Indemnitee as determined by a final and nonappealable judgment of a court of competent jurisdiction. 

(e)    Payments. All amounts due under this Section shall be payable not later than 10 Business Days after demand
therefor. 
 (f)    Survival. The agreements in this Section shall survive the resignation of the Administrative
Agent and any L/C Issuer, the replacement of any Lender, the termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all the other Obligations. 

  
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 SECTION 10.05.    Payments Set Aside. To the extent that any payment
by or on behalf of the Borrower is made to any Agent or any Lender or L/C Issuer, or any Agent or any Lender or L/C Issuer exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently
invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by such Agent or such Lender or such L/C Issuer in its discretion) to be repaid to a trustee, receiver or any other
party, in connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall, to the fullest extent possible under
provisions of applicable Law, be revived and continued in full force and effect as if such payment had not been made or such setoff had not occurred; and (b) each Lender severally agrees to pay to the applicable Agent upon demand its applicable
share of any amount so recovered from or repaid by such Agent, plus interest thereon from the date of such demand to the date such payment is made at a rate per annum equal to the applicable Federal Funds Rate from time to time in
effect. 
 SECTION 10.06.    Successors and Assigns. (a) Successors and Assigns Generally. The
provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, except that (other than as permitted pursuant to Section 7.03),
neither the Borrower nor any other Loan Party may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Administrative Agent and each Lender and no Lender may assign or otherwise transfer
any of its rights or obligations hereunder except (i) to an Eligible Assignee in accordance with the provisions of Section 10.06(b); (ii) by way of participation in accordance with the provisions of
Section 10.06(d); or (iii) by way of pledge or assignment of a security interest subject to the restrictions of Section 10.06(f) or (iv) to an SPC in accordance with the provisions of
Section 10.06(h) (and any other attempted assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than
(i) the parties hereto, (ii) their respective successors and assigns permitted hereby, (iii) Participants to the extent provided in clause (d) of this Section and (iv) to the extent expressly
contemplated hereby, the Related Parties of each of the Agents, the L/C Issuers and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

(b)    Assignments by Lenders. Any Lender may at any time assign to one or more Eligible Assignees all or a
portion of its rights and obligations under this Agreement (including all or a portion of its Commitment (or Commitments) and the Loans (including for purposes of this Section 10.06(b), participations in L/C Obligations) at
the time owing to it); provided, that any such assignment shall be subject to the following conditions: 

(i)    Minimum Amounts. 

(A)    in the case of an assignment of the entire remaining amount of the assigning Lender’s
Commitment under any Facility and the Loans at the time owing to it under such Facility or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and 

  
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 (B)    in any case not described in
clause (b)(i)(A) of this Section, the aggregate amount of the Commitment (which for this purpose includes Loans outstanding thereunder) or, if the Commitment is not then in effect, the principal outstanding balance of the
Loans of the assigning Lender subject to each such assignment, determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the
Assignment and Assumption, as of the Trade Date, shall not be less than $5 million, in the case of any assignment in respect of the Revolving Credit Facility, or $1 million, in the case of any assignment in respect of Term Loans, unless
each of the Administrative Agent and, so long as no Event of Default under Section 8.01(a) or (f) (excluding sub-clause (iv) of such clause (f)) has
occurred and is continuing, the Borrower otherwise consents; provided, however, that concurrent assignments to members of an Assignee Group and concurrent assignments from members of an Assignee Group to a single Eligible Assignee (or
to an Eligible Assignee and members of its Assignee Group) will be treated as a single assignment for purposes of determining whether such minimum amount has been met; 

(ii)    Proportionate Amounts. Each partial assignment shall be made as an assignment of a proportionate part of
all the assigning Lender’s rights and obligations under each applicable Facility, except that this clause (ii) shall not prohibit any Lender from assigning all or a portion of its rights and obligations under one
Facility on a non-pro rata basis relative to its rights and obligations under another Facility; 

(iii)    Required Consents. No consent shall be required for any assignment except to the extent required by
clause (b)(i)(B) of this Section and, in addition: 
 (A)    the consent of
the Borrower (such consent not to be unreasonably withheld or delayed) shall be required unless (1) an Event of Default under Section 8.01(a) or (f) (excluding
sub-clause (iv) of such clause (f)) has occurred and is continuing at the time of such assignment or (2) such assignment is to a Lender, an Affiliate of a Lender or
an Approved Fund (which, in the case of an assignment in respect of the Revolving Credit Facility, shall be a Revolving Credit Lender, an Affiliate of a Revolving Credit Lender or an Approved Fund with respect to such Lender; provided, that
the Borrower shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Administrative Agent within 10 Business Days after having received notice thereof; 

(B)    the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed)
shall be required for assignments in respect of (1) any Term Commitment or Revolving Credit Commitment (and associated Revolving Credit Loans and participations in L/C Obligations) if such assignment is to a Person that is not a Lender with a
Commitment in respect of the applicable 

  
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Facility or (in the case of a Term Commitment only) an Affiliate of such Lender or an Approved Fund with respect to such Lender or (2) any Term Loan to a Person that is not a Lender, an
Affiliate of a Lender or an Approved Fund; 
 (C)    the consent of the L/C Issuers (each such consent
not to be unreasonably withheld or delayed) shall be required for any assignment in respect of the Revolving Credit Facility if such assignment is to a Person that is not a Revolving Credit Lender (it being understood that each L/C Issuer shall be
deemed to have consented to any assignment in respect of the Revolving Credit Facility unless it shall have objected thereto by written notice to the Administrative Agent within five Business Days after having received written notice thereof). 

(iv)    Assignment and Assumption. The parties to each assignment shall execute and deliver to the Administrative
Agent an Assignment and Assumption, together with a processing and recordation fee in the amount of $3,500; provided, however, that the Administrative Agent may, in its sole discretion, elect to waive such processing and recordation
fee in the case of any assignment. The assignee, if it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire. 

(v)    No Assignment to Certain Persons. No such assignment shall be made (A) to the Borrower or any of the
Borrower’s Affiliates or Subsidiaries except as permitted by Section 10.06(i), (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of the
foregoing Persons described in this clause (B) or (C) to a natural person. 
 (vi)    Certain
Additional Payments. In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment shall be effective (without the Borrower’s and the Administrative Agent’s consent) unless and
until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution thereof as appropriate (which may
be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the Borrower and the Administrative Agent, the applicable pro rata share of Loans
previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the
Administrative Agent or any Lender hereunder (and interest accrued thereon) and (y) acquire (and fund as appropriate) its full pro rata share of all Loans and participations in Letters of Credit in accordance with its Applicable
Percentage. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable Law without compliance with the provisions of this paragraph, then the
assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs. 
 Subject to
acceptance and recording thereof by the Administrative Agent pursuant to clause (c) of this Section, from and after the effective date specified in each Assignment and Assumption,

  
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the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this
Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of
the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of (and subject to the obligations and limitations of)
Sections 3.01, 3.04, 3.05 and 10.04 with respect to amounts payable thereunder and accruing for such Lender’s benefit but not paid prior to the effective date of such assignment. Upon request, the
Borrower (at its expense) shall execute and deliver a Note to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section shall be treated for purposes of this
Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with Section 10.06(d). 

(c)    Register. The Administrative Agent, acting solely for this purpose as a
non-fiduciary agent of the Borrower, shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and
addresses of the Lenders, and the Commitments of, and principal amounts (and related interest amounts) of the Loans and L/C Obligations owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The
entries in the Register shall be conclusive absent demonstrable error and the Borrower, the Administrative Agent and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for
all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrower and any Lender (with respect to its own interests only), at any reasonable time and from time to time upon
reasonable prior notice. This Section 10.06(c) and Section 2.11 shall be construed so that all Loans are at all times maintained in “registered form” within the meaning of
Section 163(f), 871(h)(2) and 881(c)(2) of the Code and the Treasury regulations thereunder. 

(d)    Participations. Any Lender may at any time, without the consent of, or notice to, the Borrower or the
Administrative Agent, sell participations to any Eligible Assignee (each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or
the Loans (including such Lender’s participations in L/C Obligations) owing to it); provided, that (i) such Lender’s obligations under this Agreement shall remain unchanged; (ii) such Lender shall remain solely responsible
to the other parties hereto for the performance of such obligations; and (iii) the Borrower, the Agents, the Lenders and the L/C Issuers shall continue to deal solely and directly with such Lender in connection with such Lender’s rights
and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification
or waiver of any provision of this Agreement; provided, that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, waiver or other modification described in the
first proviso to Section 10.01 that adversely affects such Participant. Subject to clause (e) of this Section, the Borrower agrees that each Participant shall be entitled to the benefits of
Sections 3.01, 3.04 and 3.05 (subject to the requirements and limitations of such Sections and Section 10.13 and the Participant’s compliance with
Section 3.01(d)) to the same extent as if it were a Lender and had 

  
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acquired its interest by assignment pursuant to Section 10.06(b). To the extent permitted by law, each Participant also shall be entitled to the benefits of
Section 10.08 as though it were a Lender; provided such Participant agrees to be subject to Section 2.12 as though it were a Lender. 

Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent
of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and related interest amounts) of each Participant’s interest in the Loans or other obligations under this Agreement (the
“Participant Register”). The entries in the Participant Register shall be conclusive, absent demonstrable error, and the Borrower and such Lender shall treat each Person whose name is recorded in the Participant Register as
the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary; provided, that no Lender shall have the obligation to disclose all or a portion of the Participant Register (including the identity
of the Participant or any information relating to a Participant’s interest in any Loans or other obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that any Loans are in
registered form for U.S. federal income tax purposes (including under Section 5F.103-1(c) of the Treasury regulations). 

(e)    Limitations upon Participant Rights. A Participant shall not be entitled to receive any greater payment
under Section 3.01 or 3.04 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, except to the extent such entitlement to receive a greater payment
results in a Change in Law that occurs after the Participant acquired the applicable participation. 

(f)    Certain Pledges. Any Lender may at any time, without consent or notice, pledge or assign a security
interest in all or any portion of its rights under this Agreement (including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank or any central bank having
jurisdiction over such Lender; provided, that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 

(g)    Resignation as L/C Issuer after Assignment. Notwithstanding anything to the contrary contained herein, if
at any time any L/C Issuer assigns all of its Revolving Credit Commitment and Revolving Credit Loans pursuant to Section 10.06(b), such L/C Issuer may, subject to the remainder of this paragraph, upon 30 days’ notice
to the Borrower and the Lenders, resign as L/C Issuer. In the event of any such resignation as L/C Issuer, the Borrower shall be entitled to appoint from among the Lenders a successor L/C Issuer hereunder; provided, however, that no
failure by the Borrower to appoint any such successor shall affect the resignation of such L/C Issuer. If any L/C Issuer resigns as L/C Issuer, it shall retain all the rights, powers, privileges and duties of such L/C Issuer hereunder with respect
to all Letters of Credit outstanding as of the effective date of its resignation as L/C Issuer and all L/C Obligations with respect thereto (including the right to require the Lenders to make Base Rate Loans or fund risk participations in
Unreimbursed Amounts pursuant to Section 2.03(c)(i). Upon the appointment of a successor L/C Issuer such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C
Issuer. 

  
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 (h)    Special Purpose Funding Vehicles. Notwithstanding anything to
the contrary contained herein, any Lender (a “Granting Lender”) may grant to a special purpose funding vehicle identified as such in writing from time to time by the Granting Lender to the Administrative Agent and the Borrower (an
“SPC”) the option to provide all or any part of any Loan that such Granting Lender would otherwise be obligated to make pursuant to this Agreement; provided, that (i) nothing herein shall constitute a commitment by any
SPC to fund any Loan; (ii) any grant of such an option to any SPC shall not constitute a novation, if an SPC elects not to exercise such option or otherwise fails to make all or any part of such Loan, the Granting Lender shall be obligated to
make such Loan pursuant to the terms hereof, and in no event shall any Granting Lender be released from its obligations hereunder. Each party hereto hereby agrees that (i) each SPC shall be entitled to the benefits of
Sections 3.01, 3.04 and 3.05 (subject to the requirements and limitations of such Sections and Section 10.13) to the same extent as if it were a Granting Lender and had acquired its
interest by assignment pursuant to Section 10.06(b); provided, that an SPC shall not be entitled to receive any greater payment under Section 3.01 or 3.04 than the applicable Granting
Lender would have been entitled to receive with respect to the SPC granted to such SPC, (ii) no SPC shall be liable for any indemnity or similar payment obligation under this Agreement for which a Lender would be liable; and (iii) the
Granting Lender shall for all purposes, including the approval of any amendment, waiver or other modification of any provision of any Loan Document, remain the lender of record hereunder. The making of a Loan by an SPC hereunder shall utilize the
Commitment of the Granting Lender to the same extent, and as if, such Loan were made by such Granting Lender. In furtherance of the foregoing, each party hereto hereby agrees (which agreement shall survive the termination of this Agreement) that,
prior to the date that is one year and one day after the payment in full of all outstanding commercial paper or other senior debt of any SPC, it will not institute against, or join any other Person in instituting against, such SPC any bankruptcy,
reorganization, arrangement, insolvency, or liquidation proceeding under the laws of the United States or any State thereof. Notwithstanding anything to the contrary contained herein, any SPC may (i) with notice to, but without prior consent of
the Borrower and the Administrative Agent and with the payment of a processing fee in the amount of $3,500 (which processing fee may be waived by the Administrative Agent in its sole discretion), assign all or any portion of its right to receive
payment with respect to any Loan to the related Granting Lender; and (ii) disclose on a confidential basis any non-public information relating to its funding of Loans to any rating agency, commercial
paper dealer or provider of any surety or Guarantee or credit or liquidity enhancement to such SPC. 

(i)    Assignments to the Borrower and its Subsidiaries. Notwithstanding anything to the contrary set forth
herein, the Borrower and its Subsidiaries may acquire outstanding Term Loans, and each Term Lender shall have the right at any time to assign all or a portion of its Term Loans to the Borrower or any of its Subsidiaries, on the following basis: 

(i)    such assignment shall be made pursuant to (A) an open-market transaction on a
non-pro rata basis or (B) a Dutch Auction open to all Lenders of the applicable Class of Term Loans on a pro rata basis, and in each case the Borrower or such Subsidiary shall identify itself as such
to the assignor Lender (it being agreed that such assignment shall be made pursuant to an assignment agreement in form and substance consistent with this paragraph (i) and otherwise reasonably satisfactory to the Borrower
and the assignor Lender; provided, that (A) the Borrower or such Subsidiary, as applicable, shall (1) make a customary representation to the 

  
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assignor Lender to the effect that it does not possess material non-public information with respect to the Borrower and its Subsidiaries or the securities
of any of them that has not been disclosed to the Term Lenders generally (other than Term Lenders who have elected not to receive such information) other than information that the Borrower or such Subsidiary has offered to disclose to the assignor
Lender and such Lender has declined to receive, or (2) make a statement that such representation cannot be made or the assignor Lender shall deliver to such assignee a customary “big boy” letter containing customary “big
boy” assurance by the assignor Lender to the effect that it is a sophisticated investor and is willing to proceed with the assignment; 

(ii)    at the time of such assignment and after giving effect thereto, no Default shall have occurred and be continuing;

 (iii)    the Borrower shall not use the proceeds of Revolving Credit Loans to make such acquisition; and 

(iv)    upon any such acquisition by the Borrower or any Subsidiary of any Term Loans, such Term Loans shall, without
further action by any Person, be deemed cancelled and no longer outstanding (and may not be resold by the Borrower or such Subsidiary) for all purposes of this Agreement and the other Loan Documents, including with respect to (A) the making of,
or the application of, any payments to the Lenders under this Agreement or any other Loan Document, (B) the making of any request, demand, authorization, direction, notice, consent or waiver under this Agreement or any other Loan Document or
(C) the determination of Required Lenders or Required Class Lenders, or for any similar or related purpose, under this Agreement or any other Loan Document. 

SECTION 10.07.    Treatment of Certain Information; Confidentiality. Each of the Agents, the Lenders and the L/C
Issuers agrees to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its Affiliates and to its and its Affiliates’ respective partners, directors, officers, employees,
agents, trustees, advisors and representatives (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential and that the
disclosing party shall be liable for the failure of any such Persons to adhere to the requirements of this Section 10.07); (b) to the extent requested by any regulatory authority purporting to have jurisdiction over it
(including any self-regulatory authority, such as the National Association of Insurance Commissioners); (c) to the extent required by applicable Laws or regulations or by any subpoena or similar legal process; (d) to any other party hereto;
(e) in connection with the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder;
(f) subject to an agreement containing provisions substantially the same as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this
Agreement; or (ii) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction or securitization relating to the Borrower and its obligations, (g) with the consent of the Borrower; (h) on a
confidential basis to the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers or other market identifiers with respect to the credit facilities provided hereunder; (i) to the extent such
Information (i) becomes 

  
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publicly available other than as a result of a breach of this Section or (ii) becomes available to an Agent, any Lender, any L/C Issuer or any of their respective Affiliates on a non-confidential basis from a source other than the Borrower or any of its Subsidiaries (or any of their respective representatives) that is not itself, to the knowledge of such Person, in breach of a
confidentiality obligation to the Borrower or any Subsidiary in connection with the disclosure of such Information, (j) to any credit insurance provider relating to the Borrower and its obligations and (i) in consultation with the
Borrower, to Rating Agencies. 
 For purposes of this Section, “Information” means all information received from the
Borrower or any Subsidiary (or any of their respective representatives) relating to the Borrower or any Subsidiary or any of their respective businesses, other than any such information that is available to any Agent, any Lender or any L/C Issuer on
a non-confidential basis prior to disclosure by the Borrower or any Subsidiary (or any of their respective representatives). Any Person required to maintain the confidentiality of Information as provided in
this Section shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information.

 Each of the Agents, the Lenders and the L/C Issuers acknowledges that (a) the Information may include material non-public information concerning the Borrower or a Subsidiary, as the case may be; (b) it has developed compliance procedures regarding the use of material non-public
information; and (c) it will handle such material non-public information in accordance with applicable Law, including United States Federal and state securities Laws. In addition, any Agent or Lender may
disclose the existence of this Agreement and the information about this Agreement to market data collectors, similar services providers to the lending industry, and service providers to any Agent or Lender in connection with the administration and
management of this Agreement and the other Loan Documents. 
 SECTION 10.08.    Setoff. In addition to any
rights and remedies of the Lenders provided by Law, upon the occurrence and during the continuance of any Event of Default, each Lender and its Affiliates (and the Collateral Agent, in respect of any unpaid fees, costs and expenses payable
hereunder) is authorized at any time and from time to time, without prior notice to the Borrower, any such notice being waived by the Borrower (on its own behalf and on behalf of each Loan Party) to the fullest extent permitted by applicable Law, to
set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held by, and other Indebtedness at any time owing by, such Lender and its Affiliates or the Collateral Agent to or for the credit or the
account of the respective Loan Parties against any and all Obligations owing to such Lender and its Affiliates or the Collateral Agent hereunder or under any other Loan Document, now or hereafter existing, irrespective of whether or not such Agent
or such Lender or Affiliate shall have made demand under this Agreement or any other Loan Document and although such Obligations may be contingent or unmatured or denominated in a currency different from that of the applicable deposit or
Indebtedness. Each Lender agrees promptly to notify the Borrower and the Administrative Agent after any such set off and application made by such Lender; provided, that the failure to give such notice shall not affect the validity of such
setoff and application. The rights of the Administrative Agent, the Collateral Agent and each Lender under this Section 10.08 are in addition to other rights and remedies (including other rights of setoff) that the
Administrative Agent, the Collateral Agent and such Lender may have. 

  
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 SECTION 10.09.    Interest Rate Limitation. Notwithstanding anything
to the contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the
“Maximum Rate”). If any Agent or any Lender or L/C Issuer shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal,
refunded to the Borrower. In determining whether the interest contracted for, charged, or received by an Agent or a Lender or L/C Issuer exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any
payment that is not principal as an expense, fee, or premium rather than interest; (b) exclude voluntary prepayments and the effects thereof; and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of
interest throughout the contemplated term of the Obligations hereunder. 
 SECTION 10.10.    Counterparts;
Effectiveness. This Agreement and each other Loan Document may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery by telecopier or
email pdf of an executed counterpart of a signature page to this Agreement and each other Loan Document shall be effective as delivery of an original executed counterpart of this Agreement and such other Loan Document. The Agents may also require
that any such documents and signatures delivered by telecopier or email pdf be confirmed by a manually signed original thereof; provided, that the failure to request or deliver the same shall not limit the effectiveness of any document or
signature delivered by telecopier or email pdf. Except as provided in Section 4.01, this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent shall
have received counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto. 
 SECTION
10.11.    Integration. This Agreement, together with the other Loan Documents, comprises the complete and integrated agreement of the parties on the subject matter hereof and thereof and supersedes all prior agreements,
written or oral, on such subject matter. In the event of any conflict between the provisions of this Agreement and those of any other Loan Document, the provisions of this Agreement shall control; provided, that the inclusion of supplemental
rights or remedies in favor of the Agents or the Lenders in any other Loan Document shall not be deemed a conflict with this Agreement. Each Loan Document was drafted with the joint participation of the respective parties thereto and shall be
construed neither against nor in favor of any party, but rather in accordance with the fair meaning thereof. 
 SECTION
10.12.    Survival of Representations and Warranties. All representations and warranties made hereunder and in any other Loan Document or other document delivered pursuant hereto or thereto or in connection herewith or
therewith shall survive the execution and delivery hereof and thereof. Such representations and warranties have been or will be relied upon by the Administrative Agent and each Lender, regardless of any investigation made by the Administrative Agent
or any Lender or on their behalf and notwithstanding that the Administrative Agent or any Lender may have had notice or knowledge 

  
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of any Default at the time of any Credit Extension, and shall continue in full force and effect as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied or any
Letter of Credit shall remain outstanding. 
 SECTION 10.13.    Replacement of Lenders. If any lender is a Non-Consenting Revolving Credit Lender or a Non-Consenting Term Lender (each as defined in Amendment No. 1), if any Lender gives a notice under
Section 3.02 or requests compensation under Section 3.04, if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant
to Section 3.01, if any Lender is a Defaulting Lender, if Section 10.01(e) applies to any Lender or if any other circumstance exists hereunder that gives the Borrower the right to replace a Lender
as a party hereto, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions
contained in, and consents required by, Section 10.06), all of its interests, rights and obligations under this Agreement and the related Loan Documents to an assignee that shall assume such obligations (which assignee may
be another Lender, if a Lender accepts such assignment); provided that: 
 (A)    the
Administrative Agent shall have received the assignment fee specified in Section 10.06(b), unless waived by it as provided therein; 

(B)    such Lender shall have received payment of an amount equal to 100% of the outstanding principal of
its Loans and L/C Advances and, other than in the case of a Defaulting Lender, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents from the assignee and any amounts payable by the Borrower then due pursuant
to Section 3.01, 3.04 or 3.05 from the Borrower (it being understood that the Assignment and Assumption relating to such assignment shall provide that any interest and fees that accrued prior to the effective
date of the assignment shall be for the account of the replaced Lender and such amounts that accrue on and after the effective date of the assignment shall be for the account of the replacement Lender); 

(C)    in the case of any such assignment resulting from a claim for compensation under
Section 3.04 or payments required to be made pursuant to Section 3.01, such assignment will result in a reduction in such compensation or payments thereafter; and 

(D)    such assignment does not conflict with applicable Laws. 

A Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or
otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply. Each Lender agrees that, if the Borrower elects to replace such Lender in accordance with this Section 10.13, it
shall promptly execute and deliver to the Administrative Agent an Assignment and Assumption to evidence the assignment and shall deliver to the Administrative Agent any Note (if Notes have been issued in respect of such Lender’s Loans) subject
to such Assignment and Assumption; provided, that the failure of any such Lender to execute an Assignment and Assumption shall not render such assignment invalid and such assignment shall be recorded in the Register. 

  
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 Notwithstanding the foregoing, if the Borrower elects to replace a Term Lender in connection
with a Repricing Transaction, such Lender shall be entitled to the Prepayment Premium paid in accordance with Section 2.04(a)(ii). 

SECTION 10.14.    Severability. If any provision of this Agreement or the other Loan Documents is held to be
illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or impaired thereby; and (b) the parties shall endeavor in
good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions. The invalidity of a
provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. Without limiting the foregoing provisions of this Section 10.14, if and to the extent that the
enforceability of any provisions in this Agreement relating to Defaulting Lenders shall be limited by Debtor Relief Laws, as determined in good faith by the Borrower and the Administrative Agent or the applicable L/C Issuer, as applicable, then such
provisions shall be deemed to be in effect only to the extent not so limited. 
 SECTION 10.15.    GOVERNING
LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO ANY CONFLICTS PROVISIONS THAT WOULD RESULT IN THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION. 

(a)    ANY LEGAL ACTION OR PROCEEDING ARISING UNDER ANY LOAN DOCUMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR
INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO ANY LOAN DOCUMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, SHALL BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK
SITTING IN NEW YORK COUNTY OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK LOCATED IN THE BOROUGH OF MANHATTAN OR ANY APPELLATE COURT FROM ANY SUCH COURT, AND BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH LOAN PARTY, EACH AGENT,
EACH LENDER AND EACH L/C ISSUER CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF THOSE COURTS. EACH LOAN PARTY, EACH AGENT, EACH LENDER AND EACH L/C ISSUER IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY
OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF ANY LOAN DOCUMENT OR OTHER DOCUMENT RELATED
THERETO. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENTS IN THE MANNER PROVIDED FOR NOTICES 

  
 178 

 
(OTHER THAN TELECOPIER) IN SECTION 10.02. NOTHING IN THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER
MANNER PERMITTED BY APPLICABLE LAW. 
 SECTION 10.16.    WAIVER OF RIGHT TO TRIAL BY JURY. EACH PARTY HERETO
HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE
TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH
OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
 SECTION 10.17.    Binding Effect. This
Agreement shall become effective when it shall have been executed by the Administrative Agent and the Loan Parties and the Administrative Agent shall have been notified by each Lender and L/C Issuer that each such Lender and L/C Issuer has executed
it and thereafter shall be binding upon and inure to the benefit of the Loan Parties, each Agent, each Lender and each L/C Issuer and their respective successors and assigns, in each case in accordance with Section 10.06
(if applicable) and except that no Loan Party shall have the right to assign its rights hereunder or any interest herein without the prior written consent of the Lenders except as permitted by Section 7.03. 

SECTION 10.18.    No Advisory or Fiduciary Responsibility. (a) In connection with all aspects of each
transaction contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), each of the Borrower and the other Loan Parties acknowledges and agrees, and acknowledges its
Affiliates’ understanding, that: (a) (i) the arranging and other services regarding this Agreement provided by the Agents, Syndication Agent, Documentation Agents, Senior Co-Manager, Co-Manager, the Arrangers and the Lenders, are arm’s-length commercial transactions between the Borrower, the other Loan Parties and its and their respective Affiliates,
on the one hand, and the Agents, Syndication Agent, Documentation Agents, Senior Co-Manager, Co-Manager, the Arrangers and the Lenders, on the other hand, (ii) each
of the Borrower and the other Loan Parties has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (iii) each of the Borrower and each of the other Loan Parties are capable of
evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents; (b) (i) each of the Agents, Syndication Agent, Documentation Agents, Senior Co-Manager, Co-Manager, the Arrangers and the Lenders is and has been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has not
been, is not, and will not be acting as an advisor, agent or fiduciary for the Borrower, the other Loan Parties or any of its or their respective Affiliates, or any other Person; and (ii) neither the Agents, Syndication Agent, Documentation
Agents, Senior Co-Manager, 

  
 179 

 
Co-Manager, the Arrangers nor the Lenders have any obligation to the Borrower, the other Loan Parties or any of its or their respective Affiliates with
respect to the transactions contemplated hereby except (x) those obligations expressly set forth herein and in the other Loan Documents and (y) pursuant to any separate advisory agreement; and (c) the Agents, Syndication Agent,
Documentation Agents, Senior Co-Manager, Co-Manager, the Arrangers, the Lenders and their respective Affiliates may be engaged in a broad range of transactions that
involve interests that differ from those of the Borrower, the other Loan Parties and its and their respective Affiliates, and neither the Agents, Syndication Agent, Documentation Agents, Senior Co-Manager, Co-Manager, the Arrangers nor the Lenders have any obligation to disclose any of such interests to the Borrower, the other Loan Parties or any of its or their respective Affiliates. To the fullest extent permitted
by law, each of the Borrower and the other Loan Parties hereby waive and release any claims that it may have against the Agents, Syndication Agent, Documentation Agents, Senior Co-Manager, Co-Manager, the Arrangers and the Lenders with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby. 

(b)    No Syndication Agent or Documentation Agent shall have or be deemed to have any fiduciary relationship with any
Lender. Each Lender acknowledges that it has not relied, and will not rely, on the Syndication Agent or the Documentation Agents in deciding to enter into this Agreement or any other Loan Document or in taking or not taking any action hereunder or
thereunder. 
 SECTION 10.19.    Lender Action. Each Lender agrees that it shall not take or institute any
actions or proceedings, judicial or otherwise, for any right or remedy against any Loan Party or any other obligor under any of the Loan Documents, the Lines of Credit, the Secured Hedge Agreements or the Treasury Services Agreements (including the
exercise of any right of setoff, rights on account of any banker’s lien or similar claim or other rights of self-help), or institute any actions or proceedings, or otherwise commence any remedial procedures, with respect to any Collateral or
any other property of any such Loan Party, without the prior written consent of the Administrative Agent. The provision of this Section 10.19 are for the sole benefit of the Lenders and shall not afford any right to, or
constitute a defense available to, any Loan Party. 
 SECTION 10.20.    USA Patriot Act. Each Lender that is
subject to the USA Patriot Act and each Agent (for itself and not on behalf of any Lender) hereby notifies the Loan Parties that pursuant to the requirements of the USA Patriot Act, it is required to obtain, verify and record information that
identifies the Loan Parties, which information includes the name, address and tax identification number of each Loan Party and other information regarding each Loan Party that will allow such Lender or Agent, as applicable, to identify each Loan
Party in accordance with the USA Patriot Act. This notice is given in accordance with each requirement of the USA Patriot Act and is effective as to the Lenders and the Agents. The Borrower shall, promptly following a request by an Agent or any
Lender, provide all documentation and other information that such Agent or such Lender requests in order to comply with its ongoing obligations under applicable “know your customer” and anti-money laundering rules and regulations,
including the USA Patriot Act. 

  
 180 

 SECTION 10.21.    Electronic Execution of Assignments and Certain Other
Documents. The words “execution,” “signed,” “signature,” and words of like import in any Assignment and Assumption or in any amendment or other modification hereof (including waivers and consents) shall be deemed to
include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case
may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the
Uniform Electronic Transactions Act. 
 SECTION 10.22.    Judgment Currency. (a) If, for the purpose of
obtaining judgment in any court, it is necessary to convert a sum owing hereunder in one currency into another currency, each party hereto agrees, to the fullest extent that it may effectively do so, that the rate of exchange used shall be that at
which in accordance with normal banking procedures in the relevant jurisdiction the first currency could be purchased with such other currency on the Business Day immediately preceding the day on which final judgment is given. 

(b)    The obligations of the Borrower in respect of any sum due to any party hereto or any holder of the obligations
owing hereunder (the “Applicable Creditor”) shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than the currency in which such sum is stated to be due hereunder (the “Agreement
Currency”), be discharged only to the extent that, on the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so due in the Judgment Currency, the Applicable Creditor may in accordance with normal banking
procedures in the relevant jurisdiction purchase the Agreement Currency with the Judgment Currency; if the amount of the Agreement Currency so purchased is less than the sum originally due to the Applicable Creditor in the Agreement Currency, such
Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Applicable Creditor against such loss, and if the amount of the Agreement Currency so purchased exceeds the sum originally due to the Applicable
Creditor in the Agreement Currency, the Applicable Creditor shall refund the amount of such excess to the applicable Borrower. The obligations of the parties contained in this Section 10.22 shall survive the termination of
this Agreement and the payment of all other amounts owing hereunder. 
 SECTION 10.23.    Acknowledgment and Consent
to Bail-In of EEA Financial Institutions. Notwithstanding anything to the contrary in any Credit Document or in any other agreement, arrangement or understanding among any such parties, each party hereto
acknowledges that any liability of any EEA Financial Institution arising under any Credit Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of an EEA Resolution Authority and agrees and
consents to, and acknowledges and agrees to be bound by: (a) the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is
an EEA Financial Institution; and 
 (b)    the effects of any Bail-in Action
on any such liability, including, if applicable: 
 (i)    a reduction in full or in part or cancellation of any such
liability; 

  
 181 

 (ii)    a conversion of all, or a portion of, such liability into shares or
other instruments of ownership in such EEA Financial Institution, its parent company, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in
lieu of any rights with respect to any such liability under this Agreement or any other Credit Document; or 

(iii)    the variation of the terms of such liability in connection with the exercise of the write-down and conversion
powers of any EEA Resolution Authority. 
 ARTICLE XI 

GUARANTEE 
 SECTION
11.01.    The Guarantee. Each Guarantor hereby jointly and severally with the other Guarantors guarantees, as a primary obligor and not as a surety, to each Secured Party and their respective successors and assigns, the
prompt payment in full when due (whether at stated maturity, by required prepayment, declaration, demand, by acceleration or otherwise) of the principal of and interest (including any interest that would accrue but for the provisions of (i) the
Title 11 of the United States Code after any bankruptcy or insolvency petition under Title 11 of the United States Code and (ii) any other Debtor Relief Laws) on the Loans made by the Lenders to, and the Notes held by each Lender of, the
Borrower (other than such Guarantor), and all other Obligations from time to time owing to the Secured Parties by any Loan Party (or any Non-Guarantor Subsidiary) under any Loan Document or any Line of Credit,
any Secured Hedge Agreement or any Treasury Services Agreement, in each case strictly in accordance with the terms thereof, excluding, with respect to any Guarantor at any time, Excluded Swap Obligations with respect to such Guarantor at such time
(such obligations being herein collectively called the “Guaranteed Obligations”). The Guarantors hereby jointly and severally agree that if the Borrower shall fail to pay in full when due (whether at stated maturity, by acceleration
or otherwise) any of the Guaranteed Obligations, the Guarantors will promptly pay the same in cash, without any demand or notice whatsoever, and that in the case of any extension of time of payment or renewal of any of the Guaranteed Obligations,
the same will be promptly paid in full when due (whether at extended maturity, by acceleration or otherwise) in accordance with the terms of such extension or renewal. Notwithstanding anything to the contrary, this
Section 11.01 shall not require or result in the application of any amount received from any Loan Party to any Excluded Swap Obligation of such Loan Party (or any Non-Guarantor
Subsidiary). 
 SECTION 11.02.    Obligations Unconditional. The obligations of the Guarantors under
Section 11.01 shall constitute a guaranty of payment and to the fullest extent permitted by applicable Law, are absolute, irrevocable and unconditional, joint and several, irrespective of the value, genuineness, validity,
regularity or enforceability of the Guaranteed Obligations of the Borrower under this Agreement, the Notes, if any, or any other agreement or instrument referred to herein or therein, or any substitution, release or exchange of any other guarantee
of or security for any of the Guaranteed Obligations, and, irrespective of any other circumstance whatsoever that might otherwise constitute a legal or equitable discharge or defense of a surety or Guarantor (except for payment in full). Without
limiting the generality of the foregoing, it is agreed that the occurrence of any one or more of the following shall not alter or impair the liability of the 

  
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Guarantors hereunder which shall remain absolute, irrevocable and unconditional under any and all circumstances as described above: 

(A)    at any time or from time to time, without notice to the Guarantors, the time for any performance of
or compliance with any of the Guaranteed Obligations shall be extended, or such performance or compliance shall be waived; 

(B)    any of the acts mentioned in any of the provisions of this Agreement or the Notes, if any, or any
other agreement or instrument referred to herein or therein shall be done or omitted; 
 (C)    the
maturity of any of the Guaranteed Obligations shall be accelerated, or any of the Guaranteed Obligations shall be amended in any respect, or any right under the Loan Documents or any other agreement or instrument referred to herein or therein shall
be amended or waived in any respect or any other guarantee of any of the Guaranteed Obligations or any security therefor shall be released or exchanged in whole or in part or otherwise dealt with; 

(D)    any Lien or security interest granted to, or in favor of, an L/C Issuer or any Lender or Agent as
security for any of the Guaranteed Obligations shall fail to be perfected; 
 (E)    the release of any
other Guarantor pursuant to Section 11.09; or 
 (F)    the expiration of any
statute of limitations. 
 The Guarantors hereby expressly waive diligence, presentment, demand of payment, protest and all notices
whatsoever, and any requirement that any Secured Party exhaust any right, power or remedy or proceed against the Borrower under this Agreement or the Notes, if any, or any other agreement or instrument referred to herein or therein, or against any
other Person under any other guarantee of, or security for, any of the Guaranteed Obligations. The Guarantors waive any and all notice of the creation, renewal, extension, waiver, termination or accrual of any of the Guaranteed Obligations and
notice of or proof of reliance by any Secured Party upon this Guarantee or acceptance of this Guarantee, and the Guaranteed Obligations, and any of them, shall conclusively be deemed to have been created, contracted or incurred in reliance upon this
Guarantee, and all dealings between the Borrower and the Secured Parties shall likewise be conclusively presumed to have been had or consummated in reliance upon this Guarantee. This Guarantee shall be construed as a continuing, absolute,
irrevocable and unconditional guarantee of payment without regard to any right of offset with respect to the Guaranteed Obligations at any time or from time to time held by Secured Parties, and the obligations and liabilities of the Guarantors
hereunder shall not be conditioned or contingent upon the pursuit by the Secured Parties or any other Person at any time of any right or remedy against the Borrower or against any other Person which may be or become liable in respect of all or any
part of the Guaranteed Obligations or against any collateral security or guarantee therefor or right of offset with respect thereto. This Guarantee shall remain in full force and effect and be binding in accordance with and to the extent of its
terms upon the Guarantors and the successors 

  
 183 

 
and assigns thereof, and shall inure to the benefit of the Lenders, and their respective successors and assigns, notwithstanding that from time to time during the term of this Agreement there may
be no Guaranteed Obligations outstanding. 
 SECTION 11.03.    Reinstatement. The obligations of the Guarantors
under this Article XI shall be automatically reinstated if and to the extent that for any reason any payment by or on behalf of the Borrower or any other Loan Party in respect of the Guaranteed Obligations is rescinded or
must be otherwise restored by any holder of any of the Guaranteed Obligations, whether as a result of any proceedings in bankruptcy or reorganization or otherwise. 

SECTION 11.04.    Subrogation; Subordination. Each Guarantor hereby agrees that until the payment and satisfaction
in full in cash of all Guaranteed Obligations and the expiration and termination of the Commitments of the Lenders under this Agreement it shall waive any claim and shall not exercise any right or remedy, direct or indirect, arising by reason of any
performance by it of its guarantee in Section 11.01, whether by subrogation or otherwise, against the Borrower or any other Guarantor of any of the Guaranteed Obligations or any security for any of the Guaranteed
Obligations. 
 SECTION 11.05.    Remedies. The Guarantors jointly and severally agree that, as between the
Guarantors and the Lenders, the Obligations of the Borrower under this Agreement and the Notes, if any, may be declared to be forthwith due and payable as provided in Section 8.02 (and shall be deemed to have become
automatically due and payable in the circumstances provided in Section 8.02) for purposes of Section 11.01, notwithstanding any stay, injunction or other prohibition preventing such declaration (or
such obligations from becoming automatically due and payable) as against the Borrower and that, in the event of such declaration (or such obligations being deemed to have become automatically due and payable), such obligations (whether or not due
and payable by the Borrower) shall forthwith become due and payable by the Guarantors for purposes of Section 11.01. 

SECTION 11.06.    Instrument for the Payment of Money. Each Guarantor hereby acknowledges that the guarantee in
this Article XI constitutes an instrument for the payment of money, and consents and agrees that any Lender or Agent, at its sole option, in the event of a dispute by such Guarantor in the payment of any moneys due
hereunder, shall have the right to bring a motion-action under New York CPLR Section 3213. 
 SECTION
11.07.    Continuing Guarantee. The guarantee in this Article XI is a continuing guarantee of payment, and shall apply to all Guaranteed Obligations whenever arising. 

SECTION 11.08.    General Limitation on Guarantee Obligations. In any action or proceeding involving any state
corporate limited partnership or limited liability company law, or any applicable state, federal or foreign bankruptcy, insolvency, reorganization or other Law affecting the rights of creditors generally, if the obligations of any Guarantor under
Section 11.01 would otherwise be held or determined to be void, voidable, invalid or unenforceable, or subordinated to the claims of any other creditors, on account of the amount of its liability under
Section 11.01, then, notwithstanding any other provision to the contrary, the amount of such liability shall, without any further action by such Guarantor, any Loan Party or any other Person,

  
 184 

 
be automatically limited and reduced to the highest amount (after giving effect to the right of contribution established in Section 11.10) that is valid and enforceable
and not subordinated to the claims of other creditors as determined in such action or proceeding. 
 SECTION
11.09.    Release of Liens and Guarantees. If, in compliance with the terms and provisions of the Loan Documents, any Subsidiary Guarantor ceases to be a Restricted Subsidiary or becomes an Excluded Subsidiary, then such
Subsidiary Guarantor shall be automatically released from its Guaranty and other obligations under this Agreement (including under Section 10.04 hereof) and any other Loan Document to which it is a party including its
obligations to pledge and grant a Lien on any Collateral owned by it pursuant to any Collateral Document, and all Liens granted by it pursuant to the Collateral Documents, in each case shall be automatically released and such Subsidiary Guarantor
shall cease to be a party to this Agreement and each other Loan Document to which it is a party. If, in compliance with the terms and provisions of the Loan Documents, any Loan Party Disposes of any Collateral (other than to another Loan Party) in a
transaction permitted under this Agreement, or upon the effectiveness of any written consent to the release of the security interest created under any Collateral Document in any Collateral pursuant to Section 10.01, in each
case the security interest in such Collateral created by the Collateral Documents shall be automatically released. So long as the Borrower shall have provided the Agents such certifications or documents as any Agent shall reasonably request to the
effect that such release is permitted, the Collateral Agent shall take such actions as requested by the any Loan Party to confirm each release described in this Section 11.09. 

SECTION 11.10.    Right of Contribution. Each Guarantor hereby agrees that to the extent that a Guarantor shall
have paid more than its proportionate share of any payment made hereunder, such Guarantor shall be entitled to seek and receive contribution from and against any other Guarantor hereunder which has not paid its proportionate share of such payment.
Each Guarantor’s right of contribution shall be subject to the terms and conditions of Section 11.04. The provisions of this Section 11.10 shall in no respect limit the obligations and
liabilities of any Guarantor to the Agents, the L/C Issuers and the Lenders, and each Guarantor shall remain liable to the Agents, the L/C Issuers and the Lenders for the full amount guaranteed by such Guarantor hereunder. 

SECTION 11.11.    Subject to Intercreditor Agreement. Notwithstanding anything herein to the contrary,
(i) the liens and security interests granted to the Collateral Agent pursuant to the Collateral Documents are expressly subject to any Intercreditor Agreement (if in effect), any Second Lien Intercreditor Agreement (if in effect) and any other
intercreditor agreement entered into pursuant hereto and (ii) the exercise of any right or remedy by either Agent hereunder or under any Intercreditor Agreement (if in effect), any Second Lien Intercreditor Agreement (if in effect) and any
other intercreditor agreement entered into pursuant hereto is subject to the limitations and provisions of any Intercreditor Agreement (if in effect), any Second Lien Intercreditor Agreement (if in effect) and such other intercreditor agreement
entered into pursuant hereto. In the event of any conflict between the terms of any Intercreditor Agreement (if in effect), any Second Lien Intercreditor Agreement (if in effect) or any other such intercreditor agreement and terms of this Agreement,
the terms of any Intercreditor Agreement (if in effect), any Second Lien Intercreditor Agreement (if in effect) or such other intercreditor agreement, as applicable, shall govern. 

  
 185 

 SECTION 11.12.    Keepwell. Each Qualified ECP Guarantor hereby
jointly and severally absolutely, unconditionally and irrevocably undertakes to provide such funds or other support as may be needed from time to time by each other Guarantor to honor all of its obligations under this Guaranty in respect of Swap
Obligations (provided, however, that each Qualified ECP Guarantor shall only be liable under this Section 11.12 for the maximum amount of such liability that can be hereby incurred without rendering its
obligations under this Section 11.12, or otherwise under this Guaranty, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations of each
Qualified ECP Guarantor under this Section 11.12 shall remain in full force and effect until the release of this Guaranty under Section 9.09(b)(ii). Each Qualified ECP Guarantor intends that this
Section 11.12 constitute, and this Section 11.12 shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other Guarantor for all purposes of
Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. 
 [Remainder of page intentionally left blank] 

  
 186 

 Exhibit B 

Revolving Credit Commitments: 
  

					
	 Lenders
	  	Revolving Credit Commitment	 
	 Morgan Stanley Senior Funding, Inc.
	  	$	57,000,000	 
	 Citibank, N.A.
	  	$	50,000,000	 
	 Bank of America, N.A.
	  	$	50,000,000	 
	 Barclays Bank PLC
	  	$	50,000,000	 
	 BNP Paribas
	  	$	50,000,000	 
	 JPMorgan Chase Bank, N.A.
	  	$	43,000,000	 
		  	  
	  
	 
	 Total
	  	$	300,000,000	 
		  	  
	  
	 

 Letter of Credit Commitments: 
  

					
	 L/C Issuers
	  	L/C Commitment	 
	 Citibank, N.A.
	  	$	65,000,000	 
	 Bank of America, N.A.
	  	$	37,500,000	 
	 Morgan Stanley Senior Funding, Inc.
	  	$	37,500,000	 
	 Barclays Bank PLC
	  	$	15,000,000	 
	 BNP Paribas
	  	$	15,000,000	 
	 JPMorgan Chase Bank, N.A.
	  	$	15,000,000	 
		  	  
	  
	 
	 Total
	  	$	185,000,000	 
		  	  
	  
	 

  
 187EX-4.1

 Exhibit 4.1 

EXECUTION VERSION 
  

 
  

Gulfport Energy Corporation 

Issuer 
 6.375% Senior Notes due
2026 
  
  

INDENTURE 
 Dated as of
October 11, 2017 
  
  

Wells Fargo Bank, N.A. 
 Trustee

  
  

 

 CROSS-REFERENCE TABLE 
  

			
	 Trust
 Indenture

Act

Section
	  	Indenture
Section
	 310(a)(1)
	  	7.10
		
	 (a)(2)
	  	7.10
		
	 (a)(3)
	  	N.A.
		
	 (a)(4)
	  	N.A.
		
	 (b)
	  	7.08; 7.10
		
	 (c)
	  	N.A.
		
	 311(a)
	  	7.11
		
	 (b)
	  	7.11
		
	 (c)
	  	N.A.
		
	 312(a)
	  	2.05
		
	 (b)
	  	11.03
		
	 (c)
	  	11.03
		
	 313(a)
	  	7.06
		
	 (b)(1)
	  	N.A.
		
	 (b)(2)
	  	7.06
		
	 (c)
	  	11.02
		
	 (d)
	  	7.06
		
	 314(a)
	  	4.02;
		
	 	  	4.10; 11.02
		
	 (b)
	  	N.A.
		
	 (c)(1)
	  	11.04
		
	 (c)(2)
	  	11.04
		
	 (c)(3)
	  	N.A.
		
	 (d)
	  	N.A.
		
	 (e)
	  	11.05
		
	 (f)
	  	4.10

			
	 Trust
 Indenture

Act

Section
	  	Indenture
Section
	 315(a)
	  	7.01
		
	 (b)
	  	7.05; 11.02
		
	 (c)
	  	7.01
		
	 (d)
	  	7.01
		
	 (e)
	  	6.11
		
	 316(a)(last sentence)
	  	11.0
		
	 (a)(1)(A)
	  	6.05
		
	 (a)(1)(B)
	  	6.04
		
	 (a)(2)
	  	N.A.
		
	 (b)
	  	6.07
		
	 317(a)(1)
	  	6.08
		
	 (a)(2)
	  	6.09
		
	 (b)
	  	2.04
		
	 318(a)
	  	11.01

 N.A. means Not Applicable. 
  

 
 Note:  This Cross-Reference Table
shall not, for any purpose, be deemed to be part of this Indenture. 

 TABLE OF CONTENTS 
  

							
	 	  	Page	 
	Article 1	 
	
	Definitions and Incorporation by Reference	 
			
	 SECTION 1.01.
	 	 Definitions
	  	 	1	 
	 SECTION 1.02.
	 	 Other Definitions
	  	 	41	 
	 SECTION 1.03.
	 	 Incorporation by Reference of Trust Indenture Act
	  	 	42	 
	 SECTION 1.04.
	 	 Rules of Construction
	  	 	43	 
	
	Article 2	 
	
	The Securities	 
			
	 SECTION 2.01.
	 	 Form and Dating
	  	 	43	 
	 SECTION 2.02.
	 	 Execution and Authentication
	  	 	44	 
	 SECTION 2.03.
	 	 Registrar and Paying Agent
	  	 	44	 
	 SECTION 2.04.
	 	 Paying Agent To Hold Money in Trust
	  	 	45	 
	 SECTION 2.05.
	 	 Securityholder Lists
	  	 	45	 
	 SECTION 2.06.
	 	 Transfer and Exchange
	  	 	45	 
	 SECTION 2.07.
	 	 Replacement Securities
	  	 	45	 
	 SECTION 2.08.
	 	 Outstanding Securities
	  	 	46	 
	 SECTION 2.09.
	 	 Temporary Securities
	  	 	46	 
	 SECTION 2.10.
	 	 Cancellation
	  	 	46	 
	 SECTION 2.11.
	 	 Defaulted Interest
	  	 	46	 
	 SECTION 2.12.
	 	 CUSIP Numbers, ISINs, etc
	  	 	47	 
	 SECTION 2.13.
	 	 Issuance of Additional Securities
	  	 	47	 
	
	Article 3	 
	
	Redemption	 
			
	 SECTION 3.01.
	 	 Notices to Trustee
	  	 	48	 
	 SECTION 3.02.
	 	 Selection of Securities to Be Redeemed
	  	 	48	 
	 SECTION 3.03.
	 	 Notice of Redemption
	  	 	48	 
	 SECTION 3.04.
	 	 Effect of Notice of Redemption
	  	 	49	 
	 SECTION 3.05.
	 	 Deposit of Redemption Price
	  	 	49	 
	 SECTION 3.06.
	 	 Securities Redeemed in Part
	  	 	50	 

  
 i 

							
	Article 4	 
	
	Covenants	 
			
	 SECTION 4.01.
	 	 Payment of Securities
	  	 	50	 
	 SECTION 4.02.
	 	 SEC Reports
	  	 	50	 
	 SECTION 4.03.
	 	 Limitation on Indebtedness
	  	 	52	 
	 SECTION 4.04.
	 	 Limitation on Restricted Payments
	  	 	55	 
	 SECTION 4.05.
	 	 Limitation on Restrictions on Distributions from Restricted Subsidiaries
	  	 	59	 
	 SECTION 4.06.
	 	 Limitation on Sales of Assets and Subsidiary Stock
	  	 	62	 
	 SECTION 4.07.
	 	 Limitation on Affiliate Transactions
	  	 	67	 
	 SECTION 4.08.
	 	 Limitation on Line of Business
	  	 	69	 
	 SECTION 4.09.
	 	 Change of Control
	  	 	69	 
	 SECTION 4.10.
	 	 Limitation on Liens
	  	 	71	 
	 SECTION 4.11.
	 	 Future Subsidiary Guarantors
	  	 	71	 
	 SECTION 4.12.
	 	 Compliance Certificate
	  	 	71	 
	 SECTION 4.13.
	 	 Further Instruments and Acts
	  	 	72	 
	 SECTION 4.14.
	 	 Waiver of Stay or Extension Laws
	  	 	72	 
	 SECTION 4.15.
	 	 Termination of Covenants
	  	 	72	 
	
	Article 5	 
	
	Successor Company	 
			
	 SECTION 5.01.
	 	 When Company May Merge or Transfer Assets
	  	 	73	 
	
	Article 6	 
	
	Defaults and Remedies	 
			
	 SECTION 6.01.
	 	 Events of Default
	  	 	75	 
	 SECTION 6.02.
	 	 Acceleration
	  	 	76	 
	 SECTION 6.03.
	 	 Other Remedies
	  	 	77	 
	 SECTION 6.04.
	 	 Waiver of Past Defaults
	  	 	77	 
	 SECTION 6.05.
	 	 Control by Majority
	  	 	78	 
	 SECTION 6.06.
	 	 Limitation on Suits
	  	 	78	 
	 SECTION 6.07.
	 	 Rights of Holders to Receive Payment
	  	 	78	 
	 SECTION 6.08.
	 	 Collection Suit by Trustee
	  	 	79	 
	 SECTION 6.09.
	 	 Trustee May File Proofs of Claim
	  	 	79	 
	 SECTION 6.10.
	 	 Priorities
	  	 	79	 
	 SECTION 6.11.
	 	 Undertaking for Costs
	  	 	79	 

  
 ii 

							
	Article 7	 
	
	Trustee	 
			
	 SECTION 7.01.
	 	 Duties of Trustee
	  	 	80	 
	 SECTION 7.02.
	 	 Rights of Trustee
	  	 	81	 
	 SECTION 7.03.
	 	 Individual Rights of Trustee
	  	 	82	 
	 SECTION 7.04.
	 	 Trustee’s Disclaimer
	  	 	82	 
	 SECTION 7.05.
	 	 Notice of Defaults
	  	 	82	 
	 SECTION 7.06.
	 	 Reports by Trustee to Holders
	  	 	82	 
	 SECTION 7.07.
	 	 Compensation and Indemnity
	  	 	82	 
	 SECTION 7.08.
	 	 Replacement of Trustee
	  	 	83	 
	 SECTION 7.09.
	 	 Successor Trustee by Merger
	  	 	84	 
	 SECTION 7.10.
	 	 Eligibility; Disqualification
	  	 	84	 
	 SECTION 7.11.
	 	 Preferential Collection of Claims Against Company
	  	 	84	 
	
	Article 8	 
	
	Satisfaction and Discharge of Indenture; Defeasance	 
			
	 SECTION 8.01.
	 	 Discharge of Liability on Securities; Defeasance
	  	 	85	 
	 SECTION 8.02.
	 	 Conditions to Defeasance
	  	 	86	 
	 SECTION 8.03.
	 	 Application of Trust Money
	  	 	87	 
	 SECTION 8.04.
	 	 Repayment to Company
	  	 	87	 
	 SECTION 8.05.
	 	 Indemnity for Government Obligations
	  	 	88	 
	 SECTION 8.06.
	 	 Reinstatement
	  	 	88	 
	
	Article 9	 
	
	Amendments	 
			
	 SECTION 9.01.
	 	 Without Consent of Holders
	  	 	88	 
	 SECTION 9.02.
	 	 With Consent of Holders
	  	 	89	 
	 SECTION 9.03.
	 	 Compliance with Trust Indenture Act
	  	 	90	 
	 SECTION 9.04.
	 	 Revocation and Effect of Consents and Waivers
	  	 	90	 
	 SECTION 9.05.
	 	 Notation on or Exchange of Securities
	  	 	91	 
	 SECTION 9.06.
	 	 Trustee To Sign Amendments
	  	 	91	 
	 SECTION 9.07.
	 	 Payment for Consent
	  	 	91	 
	
	Article 10	 
	
	Subsidiary Guarantees	 
			
	 SECTION 10.01.
	 	 Guarantees
	  	 	92	 
	 SECTION 10.02.
	 	 Limitation on Liability
	  	 	93	 

  
 iii 

							
	 SECTION 10.03.
	 	 Successors and Assigns
	  	 	94	 
	 SECTION 10.04.
	 	 No Waiver
	  	 	94	 
	 SECTION 10.05.
	 	 Modification
	  	 	94	 
	 SECTION 10.06.
	 	 Release of Subsidiary Guarantor
	  	 	94	 
	 SECTION 10.07.
	 	 Contribution
	  	 	95	 
	
	Article 11	 
	
	Miscellaneous	 
			
	 SECTION 11.01.
	 	 Trust Indenture Act Controls
	  	 	95	 
	 SECTION 11.02.
	 	 Notices
	  	 	95	 
	 SECTION 11.03.
	 	 Communication by Holders with Other Holders
	  	 	96	 
	 SECTION 11.04.
	 	 Certificate and Opinion as to Conditions Precedent
	  	 	96	 
	 SECTION 11.05.
	 	 Statements Required in Certificate or Opinion
	  	 	96	 
	 SECTION 11.06.
	 	 When Securities Disregarded
	  	 	97	 
	 SECTION 11.07.
	 	 Rules by Trustee, Paying Agent and Registrar
	  	 	97	 
	 SECTION 11.08.
	 	 Legal Holidays
	  	 	97	 
	 SECTION 11.09.
	 	 Governing Law
	  	 	97	 
	 SECTION 11.10.
	 	 No Recourse Against Others
	  	 	97	 
	 SECTION 11.11.
	 	 Successors
	  	 	97	 
	 SECTION 11.12.
	 	 Multiple Originals
	  	 	97	 
	 SECTION 11.13.
	 	 Table of Contents; Headings
	  	 	98	 

  

			
	 Rule 144A/Regulation S Appendix

		
	 Exhibit 1 –
	  	 Form of Initial Security

		
	 Exhibit A –
	  	 Form of Exchange Security or Private Exchange Security

		
	 Exhibit B –
	  	 Form of Guaranty Agreement

  
 iv 

 INDENTURE dated as of October 11, 2017, among Gulfport Energy Corporation,
a Delaware corporation (the “Company”), those Subsidiary Guarantors that from time to time become parties to this Indenture and Wells Fargo Bank, N.A., a national banking association (the “Trustee”). 

Each party agrees as follows for the benefit of the other parties and for the equal and ratable benefit of the Holders of the Initial
Securities, Exchange Securities, Private Exchange Securities and any Additional Securities: 
 Article 1 

Definitions and Incorporation by Reference 

SECTION 1.01.    Definitions. 

“Additional Assets” means: (1) any property, plant or equipment used or useful in a Related Business; (2) the
Capital Stock of a Person that becomes a Restricted Subsidiary as a result of the acquisition of such Capital Stock by the Company or another Restricted Subsidiary; or (3) Capital Stock constituting a minority interest in any Person that at
such time is a Restricted Subsidiary; provided, however, that any such Restricted Subsidiary described in clause (2) or (3) above is primarily engaged in a Related Business. 

“Additional Securities” means Securities issued under this Indenture after the Issue Date and in compliance with Sections
2.13 and 4.03, it being understood that any Securities issued in exchange for or replacement of any Initial Security issued on the Issue Date shall not be an Additional Security, including any such Securities issued pursuant to the Registration
Rights Agreement. 
 “Adjusted Consolidated Net Tangible Assets” means (without duplication), as of the date of
determination: 
  

	 	(1)	the sum of: 

  

	 	(a)	 discounted future net revenue from proved oil and natural gas reserves of the Company and its Restricted
Subsidiaries calculated in accordance with SEC guidelines before any state or federal income taxes, as estimated in a reserve report prepared as of the end of the fiscal year ending prior to the date of determination (or, if the date of
determination is within 45 days after the end of the immediately preceding fiscal year and no reserve report as of the end of such fiscal year has at the time been prepared, as of the end of the second preceding fiscal year), which reserve report is
prepared or audited by the Company’s petroleum engineers or independent petroleum engineers, as increased by, as of 

	 	
the date of determination, the discounted future net revenue calculated in accordance with SEC guidelines (utilizing the prices utilized in such year-end
reserve report) of: 

 (i)    estimated proved oil and natural gas reserves of the Company
and its Restricted Subsidiaries attributable to acquisitions consummated since the date of such reserve report, and 

(ii)    estimated oil and natural gas reserves of the Company and its Restricted Subsidiaries attributable
to extensions, discoveries and other additions and upward determinations of estimates of proved oil and natural gas reserves (including previously estimated development costs incurred during the period and the accretion of discount since the prior
period end) due to exploration, development or exploitation, production or other activities which reserves were not reflected in such reserve report; 

and decreased by, as of the date of determination, the discounted future net revenue attributable to: 

(iii)    estimated proved oil and natural gas reserves of the Company and its Restricted Subsidiaries
reflected in such reserve report produced or disposed of since the date of such reserve report, and 

(iv)    reductions in the estimated oil and natural gas reserves of the Company and its Restricted
Subsidiaries reflected in such reserve report since the date of such reserve report attributable to downward determinations of estimates of proved oil and natural gas reserves due to exploration, development or exploitation, production or other
activities conducted or otherwise occurring since the date of such reserve report; 
 provided, however, that, in the case of
each of the determinations made pursuant to clauses (i) through (iv), such increases and decreases shall be estimated by the Company’s petroleum engineers or any independent petroleum engineer engaged by the Company for such purpose, in
accordance with customary reserve engineering practices; 
  

	 	(b)	the capitalized costs that are attributable to oil and natural gas properties of the Company and its Restricted Subsidiaries to which no proved oil and natural gas reserves are attributed, based on the Company’s
books and records as of a date no earlier than the end of the most recent fiscal quarter for which internal financial statements of the Company have been made available prior to the date of determination; 

 

	 	(c)	the Net Working Capital as of the end of the most recent fiscal quarter for which internal financial statements of the Company have been made available prior to the date of determination; and 

  
 2 

	 	(d)	the greater of (i) the net book value as of a date no earlier than the end of the most recent fiscal quarter for which internal financial statements of the Company have been made available prior to the date of
determination and (ii) the appraised value, as estimated by independent appraisers, of other tangible assets of the Company and its Restricted Subsidiaries as of a date within the immediately preceding 12 months (provided, however, that the
Company shall not be required to obtain such an appraisal of such assets if no such appraisal has been performed); minus 

(2)    to the extent not otherwise taken into account in the immediately preceding clause (1), the sum of:

  

	 	(a)	minority interests; 

  

	 	(b)	any net natural gas balancing liabilities of the Company and its Restricted Subsidiaries as of the effective date of the reserve report referred to in (1)(a) above; 

 

	 	(c)	the discounted future net revenue before any state or federal income taxes, as of the effective date of such reserve report, calculated in accordance with SEC guidelines (utilizing the same prices utilized in the
Company’s year-end reserve report), attributable to participation interests, overriding royalty interests or other interests of third parties in reserves, pursuant to participation, partnership, vendor
financing or other agreements then in effect, or which otherwise are required to be delivered to third parties; 

  

	 	(d)	the discounted future net revenue before any state or federal income taxes, as of the effective date of such reserve report, calculated in accordance with SEC guidelines (utilizing the same prices utilized in the
Company’s year-end reserve report), attributable to reserves that are required to be delivered to third parties to fully satisfy the obligations of the Company and its Restricted Subsidiaries with respect
to Volumetric Production Payments on the schedules specified with respect thereto; and 

  
 3 

	 	(e)	the discounted future net revenue before any state or federal income taxes, as of the effective date of such reserve report, calculated in accordance with SEC guidelines, attributable to reserves subject to
Dollar-Denominated Production Payments that, based on the estimates of production included in determining the discounted future net revenue specified in the immediately preceding clause (1)(a) (utilizing the same prices utilized in the
Company’s year-end reserve report), would be necessary to satisfy fully the obligations of the Company and its Restricted Subsidiaries with respect to Dollar-Denominated Production Payments on the
schedules specified with respect thereto. 

 Whether the Company uses the successful efforts method of accounting or the full
cost (or similar method) method of accounting, “Adjusted Consolidated Net Tangible Assets” will be calculated as if the Company were using the full cost method of accounting. 

“Adjusted Treasury Rate” means, with respect to any redemption date, (i) the yield, under the heading which represents
the average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve
System and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no
maturity is within three months before or after January 15, 2021, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Adjusted Treasury Rate shall be interpolated or
extrapolated from such yields on a straight line basis, rounding to the nearest month) or (ii) if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the rate
per year equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date, in each case calculated on the third
Business Day immediately preceding the redemption date, in each case, plus 0.50%. 
 “Affiliate” of any specified Person
means any other Person, directly or indirectly, controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any Person means
the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings
correlative to the foregoing. For purposes of Sections 4.04, 4.06 and 4.07 only, “Affiliate” shall also mean any beneficial owner of Capital Stock representing 10% or more of the total voting power of the Voting Stock (on a fully
diluted basis) of the Company or of rights or warrants to purchase such Capital Stock (whether or not currently exercisable). No Person shall be deemed an Affiliate of an oil and gas royalty trust solely by virtue of ownership of units of beneficial
interest in such trust. 

  
 4 

 “Applicable Premium” means with respect to a Security at any redemption date,
the greater of (1) 1.00% of the principal amount of such Security and (2) the excess of (A) the present value at such redemption date of (i) the redemption price of such Security on January 15, 2021 (such redemption
price being described in paragraph 5(a) of the Securities, exclusive of any accrued interest) plus (ii) all required remaining scheduled interest payments due on such Security through January 15, 2021 (but excluding accrued and unpaid
interest to the redemption date), computed using a discount rate equal to the Adjusted Treasury Rate, over (B) the principal amount of such Security on such redemption date. The Company will calculate the Applicable Premium and deliver such
calculation to the Trustee prior to the applicable redemption date. The Trustee will not be responsible for the calculation of the Applicable Premium. 

“ASC” means the Financial Standards Accounting Board’s Accounting Standards Codification. 

“Asset Disposition” means any sale, lease, transfer or other disposition or issuance (or series of related sales, leases,
transfers or other dispositions or issuances) by the Company or any Restricted Subsidiary, including by means of a merger, consolidation or similar transaction (each, a “disposition”), of: 

(1)    any shares of Capital Stock of a Restricted Subsidiary (other than directors’ qualifying shares
or shares required by applicable law to be held by a Person other than the Company or a Restricted Subsidiary); 

(2)    all or substantially all the assets of any division or line of business of the Company or any
Restricted Subsidiary; or 
 (3)    any other assets of the Company or any Restricted Subsidiary outside
of the ordinary course of business of the Company or such Restricted Subsidiary. 
 Notwithstanding the foregoing, the following shall be deemed not to be
Asset Dispositions for purposes of Section 4.06: (A) a disposition by the Company or a Restricted Subsidiary to the Company or a Restricted Subsidiary; (B) a disposition that constitutes (i) a Restricted Payment that is not
prohibited by Section 4.04 or (ii) a Permitted Investment; (C) a disposition of all or substantially all the assets of the Company in accordance with Section 5.01, or any disposition that constitutes a Change of Control;
(D) a disposition in any single transaction or series of related transactions of assets with a Fair Market Value of less than $10.0 million; (E) a disposition of cash or Temporary Cash Investments; (F) the creation of a Lien (but
not the sale or other disposition of the property subject to such Lien); (G) the trade or exchange by the Company or any Restricted Subsidiary of any Hydrocarbon and Mineral Property or any related assets or other assets commonly used in the Oil and
Gas Business owned or held by the Company or such Restricted Subsidiary, or any Capital Stock of a Person all or 

  
 5 

 
substantially all of whose assets consist of one or more of such types of assets, for (i) assets of such types owned or held by another Person or (ii) the Capital Stock of another
Person all or substantially all of whose assets consist of assets of such types and any cash or cash equivalents necessary in order to achieve an exchange of equivalent value; provided, however, that the Fair Market Value of the
property or Capital Stock received by the Company or any Restricted Subsidiary in such trade or exchange (including any cash or cash equivalents) is substantially equal to the Fair Market Value of the property (including any cash or cash
equivalents) so traded or exchanged; provided, further, that an amount equal to the amount of Net Available Cash from such disposition must be applied in accordance with the covenant described under Section 4.06; (H) any
Production Payments and Reserve Sales created, issued or assumed in connection with the financing of the acquisition of oil and gas properties that are subject thereto (and within 90 days after such acquisition), if the owner or purchaser of such
Production Payment and Reserve Sale has recourse solely to such oil and gas properties and to the proceeds thereof, subject to the obligation of the grantor or transferor of such Production Payment and Reserve Sale to operate and maintain the
related oil and gas properties in a prudent manner or other customary standard, to deliver the associated production (if required) and to indemnify with respect to environmental, title and other matters customary in the Oil and Gas Business;
(I) a disposition of oil and gas properties in connection with tax credit transactions complying with Section 45K or any successor or analogous provisions of the Code; (J) a disposition of the Capital Stock of or any Investment in any
Unrestricted Subsidiary (other than Grizzly Holdings); (K) surrender or waiver of contract rights or the settlement, release or surrender of contract, tort or other claims of any kind; (L) any Sale/Leaseback Transaction with respect to an asset
acquired after the Issue Date; provided, however, that such transaction occurs within 180 days after the date of the acquisition of such asset by the Company or such Restricted Subsidiary; (M) any disposition of defaulted
receivables that arose in the ordinary course of business for collection; and (N) a disposition of property pursuant to condemnation or eminent domain (or deed in lieu thereof); provided, however, that an amount equal to the
amount of Net Available Cash from such disposition must be applied in accordance with Section 4.06. 
 For the avoidance of doubt:
(i) any disposition of Hydrocarbons and Minerals; (ii) any abandonment, relinquishment, farm-in, farm-out, lease,
sub-lease, pooling, unitization, deemed transfer of working interests under any joint operating agreement or other similar or other disposition of developed or undeveloped or both developed and underdeveloped
Hydrocarbon and Mineral Properties; (iii) the provision of services, equipment and other assets for the operation and development of the Company’s and its Restricted Subsidiaries’ oil and natural gas wells (notwithstanding that any
such transaction may be recorded as an asset sale in accordance with full cost accounting guidelines); (iv) any assignment of a working, overriding royalty or net profits interest to an employee or consultant of the Company or any of its Restricted
Subsidiaries in connection with the generation of prospects or the exploration or development of oil and natural gas projects; (v) the licensing or abandonment of intellectual property in the ordinary course of business; (vi) the granting
of leases or subleases that do not interfere in any material respect with the business of the Company and its Restricted Subsidiaries; (vii) the disposition of obsolete or worn-out equipment or

  
 6 

 
equipment that is no longer used in the conduct of the business of the Company and its Restricted Subsidiaries and that is disposed of in each case in the ordinary course of business;
(viii) the liquidation of any assets received in settlement of claims owed to the Company or any Restricted Subsidiary; and (ix) the disposition of, or voluntary or involuntary termination of, a Hedging Obligation, in each such case in the
ordinary course of business of the Company or its Subsidiaries or as otherwise customary in the Oil and Gas Business, will not constitute an Asset Disposition. 

“Average Life” means, as of the date of determination, with respect to any Indebtedness, the quotient obtained by dividing
(1) the sum of the products of the numbers of years from the date of determination to the dates of each successive scheduled principal payment of or redemption or similar payment with respect to such Indebtedness multiplied by the amount of
such payment by (2) the sum of all such payments. 
 “Bankruptcy Law” means Title 11, United States Code, or any
similar Federal or state law for the relief of debtors. 
 “Board of Directors” means the board of directors of the Company
or any committee thereof duly authorized to act on behalf of such board. 
 “Business Day” means each day which is not a
Legal Holiday. 
 “Capital Lease Obligation” means an obligation that is required to be classified and accounted for as a
capital lease for financial reporting purposes in accordance with GAAP, and the amount of Indebtedness represented by such obligation shall be the capitalized amount of such obligation determined in accordance with GAAP; and the Stated Maturity
thereof shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be terminated by the lessee without payment of a penalty. For purposes of Section 4.10, a Capital
Lease Obligation will be deemed to be Indebtedness secured by a Lien on the property being leased. 
 “Capital Stock” of
any Person means any and all shares, interests (including partnership interests), rights to purchase, warrants, options, participations or other equivalents of or interests in (however designated) equity of such Person, including any Preferred
Stock, but excluding any debt securities convertible into such equity. 
 “Change of Control” means the occurrence of any
of the following events: 
 (1)    any “person” (as such term is used in Sections 13(d)
and 14(d) of the Exchange Act) is or becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly,
of more than 50% of the total voting power of the Voting Stock of the Company; provided, however, that, for the purposes of this clause (1), a person shall be deemed (x) to have “beneficial ownership” of all shares
that any such person has the right to acquire, whether such right is exercisable immediately or only after the passage of time and (y) to beneficially own any Voting Stock of a Person (the “specified person”)

  
 7 

 
held by any other Person (the “parent entity”), if such person is the beneficial owner (as defined above in this clause (1)), directly or indirectly, of more than 50% of the Voting
Stock of such parent entity; 
 (2)    the adoption of a plan relating to the liquidation or dissolution
of the Company; or 
 (3)    the merger or consolidation of the Company with or into another Person or
the merger of another Person with or into the Company, or the sale of all or substantially all the assets of the Company and its Restricted Subsidiaries (determined on a consolidated basis) to another Person other than a transaction following which
(A) in the case of a merger or consolidation transaction, one or more holders of securities that represented 100% of the Voting Stock of the Company immediately prior to such transaction (or other securities into which such securities are
converted as part of such merger or consolidation transaction) own directly or indirectly at least a majority of the voting power of the Voting Stock of the surviving Person in such merger or consolidation transaction immediately after such
transaction and (B) in the case of a sale of assets transaction, each transferee is or becomes an obligor in respect of the Securities and a Subsidiary of the transferor of such assets; 

but, notwithstanding the foregoing, Permitted Grizzly Dispositions shall not constitute or give rise to a Change of Control. 

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

“Company” means the party named as such in this Indenture until a successor replaces it and, thereafter, means the successor
and, for purposes of any provision contained herein and required by the Trust Indenture Act, each other obligor on the indenture securities. 

“Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as having a maturity
comparable to the remaining term of the Securities from the redemption date to January 15, 2021, that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt
securities of a maturity most nearly equal to January 15, 2021. 
 “Comparable Treasury Price” means, with respect to
any redemption date, if clause (ii) of the Adjusted Treasury Rate definition is applicable, the average of three, or such lesser number as is obtained by the Quotation Agent, Reference Treasury Dealer Quotations for such redemption date. 

“Consolidated Coverage Ratio” as of any date of determination means the ratio of 

(1)    the aggregate amount of EBITDA for the period of the most recent four consecutive fiscal quarters
ending at least 45 days prior to the date of such determination to 

  
 8 

 (2)    Consolidated Interest Expense for such four fiscal
quarters; 
 provided, however, that: 

(A)    if the Company or any Restricted Subsidiary has Incurred any Indebtedness since the beginning of
such period that remains outstanding or if the transaction giving rise to the need to calculate the Consolidated Coverage Ratio is an Incurrence of Indebtedness, or both, then EBITDA and Consolidated Interest Expense for such period shall be
calculated after giving effect on a pro forma basis to such Indebtedness and the use of the proceeds thereof as if such Indebtedness had been Incurred on the first day of such period and such proceeds had been applied as of such date;
provided, however, that the pro forma calculation of Consolidated Interest Expense shall not give effect to any Indebtedness Incurred on the date of determination pursuant to Section 4.03(b); 

(B)    if the Company or any Restricted Subsidiary has repaid, repurchased, defeased or otherwise
discharged any Indebtedness since the beginning of such period or if any Indebtedness is to be repaid, repurchased, defeased or otherwise discharged on the date of the transaction giving rise to the need to calculate the Consolidated Coverage Ratio,
then EBITDA and Consolidated Interest Expense for such period shall be calculated on a pro forma basis as if such discharge had occurred on the first day of such period and as if the Company or such Restricted Subsidiary had not earned
the interest income actually earned (if any) during such period in respect of cash or Temporary Cash Investments used to repay, repurchase, defease or otherwise discharge such Indebtedness; provided, however, that the pro
forma calculation of Consolidated Interest Expense shall not give effect to the discharge on the date of determination of any Indebtedness to the extent such discharge results from the proceeds of Indebtedness Incurred pursuant
Section 4.03(b); 
 (C)    if, since the beginning of such period, the Company or any Restricted
Subsidiary shall have made any Asset Disposition, then EBITDA for such period shall be reduced by an amount equal to EBITDA (if positive) directly attributable to the assets which were the subject of such Asset Disposition for such period, or
increased by an amount equal to EBITDA (if negative) directly attributable thereto for such period, and Consolidated Interest Expense for such period shall be reduced by an amount equal to the Consolidated Interest Expense directly attributable to
any Indebtedness of the Company or any Restricted Subsidiary repaid, repurchased, defeased or otherwise discharged with respect to the Company and its continuing Restricted Subsidiaries in connection with such Asset Disposition for such period (or,
if the Capital Stock of any Restricted Subsidiary is sold, the Consolidated Interest Expense for such period directly attributable to the Indebtedness of such Restricted Subsidiary to the extent the Company and its continuing Restricted Subsidiaries
are no longer liable for such Indebtedness after such sale), and interest income in respect of cash or Temporary Cash Investments received in connection with such Asset Disposition and not otherwise used (or required to be used) either to make a
subsequent Investment or 

  
 9 

 
to purchase, repay, redeem or repurchase Indebtedness, shall be calculated on a pro forma basis as if such Asset Disposition had occurred on the first day of such period, with such
cash or Temporary Cash Investments being deemed to have earned interest income at the same average rate as the Company’s and the Restricted Subsidiaries’ cash and Temporary Cash Investments actually earned interest over the period for
which pro forma effect is being given; 
 (D)    if, since the beginning of such period,
the Company or any Restricted Subsidiary (by merger or otherwise) shall have made an Investment in any Restricted Subsidiary (or any Person which becomes a Restricted Subsidiary) or an acquisition of material assets, then EBITDA and Consolidated
Interest Expense for such period shall be calculated after giving pro forma effect thereto (including the Incurrence of any Indebtedness) as if such Investment or acquisition had occurred on the first day of such period; and 

(E)    if, since the beginning of such period, any Person (that subsequently became a Restricted Subsidiary
or was merged with or into the Company or any Restricted Subsidiary since the beginning of such period) shall have made any Asset Disposition, any Investment or acquisition of assets that would have required an adjustment pursuant to clause (C)
or (D) above if made by the Company or a Restricted Subsidiary during such period, then EBITDA and Consolidated Interest Expense for such period shall be calculated after giving pro forma effect thereto as if such Asset
Disposition, Investment or acquisition had occurred on the first day of such period. 
 For purposes of this definition, whenever pro forma
effect is to be given to an event, the pro forma calculations shall be determined in good faith by a responsible financial or accounting Officer of the Company. 

If any Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest on such Indebtedness
shall be calculated as if the rate in effect on the date of determination had been the applicable rate for the entire period (taking into account any Interest Rate Agreement applicable to such Indebtedness, but if the remaining term of such Interest
Rate Agreement is less than 12 months, then such Interest Rate Agreement shall only be taken into account for that portion of the period equal to the remaining term thereof). 

The Consolidated Interest Expense attributable to interest on any Indebtedness under a revolving credit facility the outstanding principal
balance of which is required to be computed on a pro forma basis in accordance with the foregoing shall be computed based upon the average daily balance of such Indebtedness during the applicable period; provided,
however, that such average daily balance shall be reduced by the amount of any repayment of Indebtedness under such revolving credit facility during the applicable period, to the extent such repayment permanently reduced the commitments or
amounts available to be borrowed under such facility. 

  
 10 

 “Consolidated Interest Expense” means, for any period, the total interest
expense of the Company and its consolidated Restricted Subsidiaries, plus, to the extent not included in such total interest expense, and to the extent incurred by the Company or its Restricted Subsidiaries, without duplication: 

(1)    interest expense attributable to Capital Lease Obligations; 

(2)    amortization of debt discount and debt issuance cost; 

(3)    capitalized interest; 

(4)    non-cash interest expense; 

(5)    commissions, discounts and other fees and charges owed with respect to letters of credit and
bankers’ acceptance financing; 
 (6)    net payments pursuant to Interest Rate Agreements; 

(7)    dividends accrued in respect of all Disqualified Stock of the Company and all Preferred Stock of any
Restricted Subsidiary, in each case, held by Persons other than the Company or a Wholly Owned Subsidiary (other than dividends payable solely in Capital Stock (other than Disqualified Stock) of the Company); 

(8)    interest incurred in connection with Investments in discontinued operations; 

(9)    interest accruing on any Indebtedness of any other Person to the extent such Indebtedness is
Guaranteed by (or secured by the assets of) the Company or any Restricted Subsidiary; and 
 (10)    the
cash contributions to any employee stock ownership plan or similar trust to the extent such contributions are used by such plan or trust to pay interest or fees to any Person (other than the Company) in connection with Indebtedness Incurred by such
plan or trust; 
 minus, to the extent included above, write-off of deferred financing costs and interest
attributable to Dollar-Denominated Production Payments. 
 “Consolidated Net Income” means, for any period, the net income
of the Company and its consolidated Subsidiaries; provided, however, that there shall not be included in such Consolidated Net Income: 

(1)    any net income of any Person (other than the Company) if such Person is not a Restricted Subsidiary,
except that: 
 (A)    subject to the exclusion contained in clause (4) below, the Company’s
equity in the net income of any such Person for such period 

  
 11 

 
shall be included in such Consolidated Net Income in an amount equal to the aggregate amount of cash actually distributed by such Person during such period to the Company or a Restricted
Subsidiary as a dividend, interest payment or other distribution (subject, in the case of a dividend, interest payment or other distribution paid to a Restricted Subsidiary, to the limitations contained in clause (3) below); and 

(B)    the Company’s equity in a net loss of any such Person for such period shall not be included in
determining such Consolidated Net Income, except to the extent of the aggregate cash actually contributed to such Person by the Company or a Restricted Subsidiary during such period; 

(2)    solely for purposes of determining the aggregate amount available for Restricted Payments under
Section 4.04(a)(3), any net income (or loss) of any Person acquired by the Company or a Subsidiary in a pooling of interests transaction (or any transaction accounted for in a manner similar to a pooling of interests) for any period prior to
the date of such acquisition; 
 (3)    any net income of any Restricted Subsidiary if such Restricted
Subsidiary is subject to restrictions, directly or indirectly, on the payment of dividends or the making of distributions by such Restricted Subsidiary, directly or indirectly, to the Company, except that: 

(A)    subject to the exclusion contained in clause (4) below, the net income of any such Restricted
Subsidiary for such period shall be included in such Consolidated Net Income in an amount equal to the aggregate amount of cash actually distributed by such Restricted Subsidiary during such period to the Company or another Restricted Subsidiary as
a dividend, interest payment or other distribution (subject, in the case of a dividend, interest payment or other distribution paid to another Restricted Subsidiary, to the limitation contained in this clause); and 

(B)    the net loss of any such Restricted Subsidiary for such period shall be included in determining such
Consolidated Net Income; 
 (4)    any gain or loss, together with any related provision for taxes on
such gain or loss and all related fees and expenses, realized in connection with (A) the sale or other disposition of any assets of the Company, its consolidated Subsidiaries or any other Person that are not sold or otherwise disposed of in the
ordinary course of business and (B) the disposition of any securities of any Person or the extinguishment of any Indebtedness of the Company or any of its Subsidiaries; 

  
 12 

 (5)    extraordinary or nonrecurring gains or losses,
together with any related provision for taxes on such gains or losses and all related fees and expenses; 

(6)    the cumulative effect of a change in accounting principles; 

(7)    any asset impairment, write-off or write-down on or related
to oil and gas properties under GAAP or SEC guidelines; 
 (8)    any
after-tax gain or loss realized on the termination of any employee pension benefit plan; 

(9)    any adjustments of a deferred tax liability or asset pursuant to ASC 740 that result from changes in
enacted tax laws or rates; 
 (10)    costs incurred in connection with acquisitions that were eligible
for capitalization treatment under GAAP but instead were expensed at the time of incurrence, provided, however, that any such costs shall instead reduce Consolidated Net Income for any period to the extent of any amortization in such
period that would have occurred if they had been capitalized; 
 (11)    income or losses attributable to
discontinued operations (including operations disposed of during such period whether or not such operations were classified as discontinued according to GAAP); 

(12)    non-cash charges relating to grants of performance shares,
stock options, stock awards, stock purchase agreements, management compensation plans or other equity-based awards for officers, directors, employees or consultants of the Company or a Subsidiary (excluding any such
non-cash charge to the extent that it represents an accrual of or reserve for cash charges in any future period or amortization of a prepaid cash expense that was paid in a prior period) to the extent that
such non-cash charges are deducted in computing such Consolidated Net Income; provided, however, that if the Company or any Restricted Subsidiary makes a cash payment in respect of a non-cash charge in any period, such cash payment shall (without duplication) be deducted from the Consolidated Net Income for such period; 

(13)    any unrealized non-cash gains or losses or charges in
respect of Hedging Obligations (including those resulting from the application of ASC 815); 

(14)    gains and losses due to fluctuations in exchange rates or currency values; and 

(15)    gains and losses due to fluctuations in the value of Post-Closing Payments, 

in each case, for such period. Notwithstanding the foregoing, for the purposes of Section 4.04 only, there shall be excluded from Consolidated Net Income
(1) any repurchases, 

  
 13 

 
repayments or redemptions of Investments, proceeds realized on the sale of Investments or return of capital to the Company or a Restricted Subsidiary to the extent such repurchases, repayments,
redemptions, proceeds or returns increase the amount of Restricted Payments permitted under such Section pursuant to Section 4.04(a)(3)(D) thereof and (2) any dividends or other distributions of assets received by the Company or a
Restricted Subsidiary from Unrestricted Subsidiaries as dividends or other distributions by such Unrestricted Subsidiaries to the extent used to make Restricted Payments pursuant to Section 4.04(b)(12)(B). 

“Credit Agreements” means one or more credit facilities, including the Existing Credit Agreement, other revolving credit
loans, term loans, receivables financings, debt securities or other forms of debt, convertible debt or exchangeable debt financings or letters of credit and including any promissory notes, mortgages, guarantees, collateral documents, instruments and
agreements executed in connection therewith, any amendments, supplements, modifications or Refinancings thereof and any such credit facilities that replace in any manner (whether upon or after termination or otherwise) or Refinance, restate, amend,
supplement or modify any part of the loans, notes or commitments thereunder, including any such Refinanced, restated, amended, supplemented or modified facility that increases the amount permitted to be borrowed thereunder or alters the maturity
thereof (provided that such increase in borrowings is permitted under Section 4.03) or adds the Company or any of the Subsidiary Guarantors as additional borrowers or guarantors thereunder and whether by the same or any other agent,
lender or group of lenders or creditor or group of creditors. 
 “Currency Agreement” means any foreign exchange contract,
currency swap agreement or other financial agreement or arrangement with respect to currency values. 
 “Custodian” means
any receiver, trustee, assignee, liquidator, custodian or similar official under any Bankruptcy Law. 
 “Default” means any
event which is, or after notice or passage of time or both would be, an Event of Default. 
 “Disqualified Stock” means,
with respect to any Person, any Capital Stock which by its terms (or by the terms of any security into which it is convertible or for which it is exchangeable at the option of the holder) or upon the happening of any event: 

(1)    matures or is mandatorily redeemable (other than redeemable only for Capital Stock of such Person
which is not itself Disqualified Stock) pursuant to a sinking fund obligation or otherwise; 
 (2)    is
convertible or exchangeable at the option of the holder for Indebtedness or Disqualified Stock; or 

(3)    is mandatorily redeemable or must be repurchased upon the occurrence of certain events or otherwise,
in whole or in part; 

  
 14 

 in each case on or prior to the date that is 91 days after the date of the Stated Maturity of the Securities;
provided, however, that any Capital Stock that would not constitute Disqualified Stock but for provisions thereof giving holders thereof the right to require such Person to repurchase or redeem such Capital Stock upon the occurrence of
an “asset sale” or “change of control” occurring prior to the date that is 91 days after the date of the Stated Maturity of the Securities shall not constitute Disqualified Stock if: (A) the “asset sale” or
“change of control” provisions applicable to such Capital Stock are not more favorable to the holders of such Capital Stock than the terms applicable to the Securities in Sections 4.06 and 4.09 of this Indenture and (B) any such
requirement only becomes operative after compliance with such terms applicable to the Securities, including the repurchase of any Securities tendered pursuant thereto. 

The amount of any Disqualified Stock that does not have a fixed redemption, repayment or repurchase price shall be calculated in accordance with the terms of
such Disqualified Stock as if such Disqualified Stock were redeemed, repaid or repurchased on any date on which the amount of such Disqualified Stock is to be determined pursuant to this Indenture; provided, however, that if such
Disqualified Stock could not be required to be redeemed, repaid or repurchased at the time of such determination, the redemption, repayment or repurchase price shall be the book value of such Disqualified Stock as reflected in the most recent
financial statements of such Person. 
 “Dollar-Denominated Production Payments” means production payment obligations
recorded as liabilities in accordance with GAAP, together with all undertakings and obligations in connection therewith. 

“EBITDA” for any period means the sum of Consolidated Net Income, plus the following to the extent deducted in calculating
such Consolidated Net Income: 
 (1)    all income tax expense of the Company and its consolidated
Restricted Subsidiaries; 
 (2)    Consolidated Interest Expense; 

(3)    depreciation, depletion and amortization expense of the Company and its consolidated Restricted
Subsidiaries (excluding amortization expense attributable to a prepaid item that was paid in cash in a prior period); and 

(4)    all other non-cash charges of the Company and its
consolidated Restricted Subsidiaries (excluding any such non-cash charge to the extent that it represents an accrual of or reserve for cash expenditures in any future period) less all non-cash items of income of the Company and its consolidated Restricted Subsidiaries (other than accruals of revenue by the Company and its consolidated Restricted Subsidiaries in the ordinary course of business);

 in each case for such period and less, to the extent included in calculating such Consolidated Net Income and in excess of any costs or expenses
attributable thereto and deducted in calculating such Consolidated Net Income, the sum of: 
 (A)    the
amount of deferred revenues that are amortized during such period and are attributable to reserves that are subject to Volumetric Production Payments; and 

  
 15 

 (B)    amounts recorded in accordance with GAAP as repayments
of principal and interest pursuant to Dollar-Denominated Production Payments. 
 Notwithstanding the foregoing, the provision for taxes based on the income
or profits of, and the depreciation and amortization and non-cash charges of, a Restricted Subsidiary shall be added to Consolidated Net Income to compute EBITDA only to the extent (and in the same proportion,
including by reason of minority interests) that the net income or loss of such Restricted Subsidiary was included in calculating Consolidated Net Income and only if a corresponding amount would be permitted at the date of determination to be
dividended to the Company by such Restricted Subsidiary without prior approval (that has not been obtained), pursuant to the terms of its charter and all agreements, instruments, judgments, decrees, orders, statutes, rules and governmental
regulations applicable to such Restricted Subsidiary or its stockholders. 
 “Exchange Act” means the U.S. Securities
Exchange Act of 1934, as amended. 
 “Existing Credit Agreement” means the Amended and Restated Credit Agreement, dated as
of December 27, 2013 and amended or modified on or prior to the Issue Date, by and among the Company, as borrower, The Bank of Nova Scotia, as administrative agent, and the other agents and lenders party thereto, together with the related
documents thereto (including the revolving notes thereunder and any guarantees and security documents). 
 “Fair Market
Value” means, with respect to any asset or property, the price which could be negotiated in an arm’s length, free market transaction, for cash, between a willing seller and a willing and able buyer, neither of whom is under undue
pressure or compulsion to complete the transaction. Fair Market Value will be determined in good faith by an Officer of the Company who has responsibility for such transaction, whose determination will be conclusive, or, if in excess of
$50.0 million, the Board of Directors, whose determination will be conclusive and evidenced by a resolution of such Board of Directors. 

“Foreign Subsidiary” means any Restricted Subsidiary of the Company that is not organized under the laws of the United States
of America or any State thereof or the District of Columbia. 
 “GAAP” means generally accepted accounting principles in
the United States of America as in effect as of the Issue Date, including those set forth in: 

(1)    the opinions and pronouncements of the Accounting Principles Board of the American Institute of
Certified Public Accountants; 

  
 16 

 (2)    statements and pronouncements of the Financial
Accounting Standards Board; 
 (3)    such other statements by such other entity as approved by a
significant segment of the accounting profession; and 
 (4)    the rules and regulations of the SEC
governing the inclusion of financial statements (including pro forma financial statements) in periodic reports required to be filed pursuant to Section 13 of the Exchange Act, including opinions and pronouncements in staff
accounting bulletins and similar written statements from the accounting staff of the SEC. All ratios and computations based on GAAP contained in this Indenture shall be computed in conformity with GAAP. 

“Grizzly Holdings” means Grizzly Holdings, Inc., a Delaware corporation, and its successors. 

“Grizzly Oil Sands ULC” means Grizzly Oil Sands ULC, a Canadian unlimited liability company, and its successors. 

“Grizzly Sponsor Contribution Agreement” means that certain Sponsor Contribution Agreement, dated as of October 5, 2012,
among Grizzly Oil Sands ULC, Wexford Capital LP, Grizzly Oil Sands Inc., the Company and Grizzly Holdings, as amended from time to time to the extent such amendments are not materially adverse to the Company. 

“Guarantee” means any obligation, contingent or otherwise, of any Person directly or indirectly guaranteeing any Indebtedness
of any Person and any obligation, direct or indirect, contingent or otherwise, of such Person: 

(1)    to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness of
such Person (whether arising by virtue of partnership arrangements, or by agreements to keep-well, to purchase assets, goods, securities or services, to take-or-pay or
to maintain financial statement conditions or otherwise); or 
 (2)    entered into for the purpose of
assuring in any other manner the obligee of such Indebtedness of the payment thereof or to protect such obligee against loss in respect thereof (in whole or in part); 

provided, however, that the term “Guarantee” shall not include endorsements for collection or deposit in the ordinary course of
business. The term “Guarantee” used as a verb has a correlative meaning. 
 “Guaranty Agreement” means a
supplemental indenture, substantially in the form attached hereto as Exhibit B, pursuant to which a Subsidiary Guarantor guarantees the Company’s obligations with respect to the 6.375% Senior Notes due 2026 on the terms provided for in this
Indenture. 

  
 17 

 “Hedging Obligations” of any Person means the obligations of such Person
pursuant to any Interest Rate Agreement, Currency Agreement or Oil and Natural Gas Hedging Contract. 
 “Holder” or
“Securityholder” means the Person in whose name a Security is registered on the Registrar’s books. 

“Hydrocarbon and Mineral Properties” means all properties, including any interest therein, which contain or are believed to
contain Hydrocarbons and Minerals. 
 “Hydrocarbons and Minerals” means oil, natural gas, other
hydrocarbons, sand, minerals and all constituents, elements or compounds thereof, and other products commonly created, recovered or produced in association therewith or refined or processed therefrom. 

“Incur” means issue, assume, Guarantee, incur or otherwise become liable for; provided, however, that any
Indebtedness of a Person existing at the time such Person becomes a Restricted Subsidiary (whether by merger, consolidation, acquisition or otherwise) shall be deemed to be Incurred by such Person at the time it becomes a Restricted Subsidiary. The
term “Incurrence” when used as a noun shall have a correlative meaning. Solely for purposes of determining compliance with Section 4.03: 

(1)    the accrual of interest or dividends, the amortization of original issue discount or debt discount
or the accretion of principal, accreted value or liquidation preference; 
 (2)    the payment of
regularly scheduled interest in the form of additional Indebtedness of the same instrument or the payment of regularly scheduled dividends on Capital Stock in the form of additional Capital Stock of the same class and with the same terms; 

(3)    the obligation to pay a premium in respect of Indebtedness arising in connection with the issuance
of a notice of redemption or prepayment or the making of a mandatory offer to purchase such Indebtedness; 

(4)    unrealized losses or charges in respect of Hedging Obligations (including those resulting from the
application of ASC 815); and 
 (5)    increases in the amount of Indebtedness outstanding solely as
a result of fluctuations in exchange rates or currency values; 
 in each case will be deemed not to be Incurrences of Indebtedness. 

“Indebtedness” means, with respect to any Person on any date of determination (without duplication): 

 

	 	(1)	 the principal in respect of (A) indebtedness of such Person for money borrowed and (B) indebtedness
evidenced by notes, debentures, bonds 

  
 18 

	 	
or other similar instruments for the payment of which such Person is responsible or liable, including, in each case, any premium on such indebtedness to the extent such premium has become due and
payable; 

  

	 	(2)	all Capital Lease Obligations of such Person; 

 (3)    all
obligations of such Person issued or assumed as the deferred purchase price of property, all conditional sale obligations of such Person and all obligations of such Person under any title retention agreement (but excluding any accounts payable or
other liability to trade creditors arising in the ordinary course of business); 
 (4)    all obligations
of such Person for the reimbursement of any obligor on any letter of credit, bankers’ acceptance or similar credit transaction (other than obligations with respect to letters of credit securing obligations (other than obligations described in
clauses (1) through (3) above) entered into in the ordinary course of business of such Person to the extent such letters of credit are not drawn upon or, if and to the extent drawn upon, such drawing is reimbursed no later than the
tenth Business Day following payment on the letter of credit); 
 (5)    the amount of all obligations of
such Person with respect to the redemption, repayment or other repurchase of any Disqualified Stock of such Person or, with respect to any Preferred Stock of any Restricted Subsidiary of such Person, the principal amount of such Preferred Stock to
be determined in accordance with this Indenture (but excluding, in each case, any accrued dividends) (and the term “Incur Indebtedness” and similar terms include issuances of such Disqualified Stock and Preferred Stock); 

(6)    all obligations of the types referred to in clauses (1) through (5) of other Persons
and all dividends of other Persons for the payment of which, in either case, such Person is responsible or liable, directly or indirectly, including by means of any Guarantee; 

(7)    all obligations of the types referred to in clauses (1) through (6) of other Persons
secured by any Lien on any property of such Person (whether or not such obligation is assumed by such Person), the amount of such obligation being deemed to be the lesser of the liquidation value of such property and the amount of the obligation so
secured; 
 (8)    to the extent not otherwise included in this definition, Hedging Obligations of such
Person; and 
 (9)    any guarantee by such Person of production or payment with respect to a Production
Payment (but, for the avoidance of doubt, excluding all other obligations associated with such Production Payments, such as guarantees with respect to operation and maintenance of the related oil and gas properties in a prudent manner, delivery of
the associated production (if required) and other such contractual obligations). 

  
 19 

 Notwithstanding the foregoing, in connection with the purchase by the Company or any Restricted Subsidiary of any
business, the term “Indebtedness” will exclude (i) any post-closing payment to which the seller or any of its Affiliates may become entitled to the extent such payment is determined by a final closing balance sheet or such payment
depends on the performance of such business after the closing (“Post-Closing Payments”); provided, however, that, at the time of closing, the amount of any such payment is not determinable and, to the extent such
payment thereafter becomes fixed and determined, the amount is paid within 60 days thereafter, (ii) accrued expenses and royalties arising in the ordinary course of business, (iii) obligations to satisfy customer prepayment arrangements
arising in the ordinary course of business, (iv) asset retirement obligations, (v) obligations in respect of environmental reclamation or site rehabilitation, (vi) workers compensation obligations (including superannuation, pensions
and retiree medical care) that are not overdue by more than 90 days, (vii) obligations under farm-in and farm-out agreements or operating agreements,
(viii) obligations arising out of the endorsement of negotiable instruments for collection in the ordinary course of business and (ix) customary indemnification obligations. In addition, except as expressly provided in clause
(9) above, Production Payments and Reserve Sales shall not constitute “Indebtedness.” 
 The amount of Indebtedness of any
Person at any date shall be the outstanding balance at such date of all unconditional obligations as described above; provided, however, that in the case of Indebtedness sold at a discount, the amount of such Indebtedness at any time
will be the accreted value thereof at such time. 
 “Indenture” means this Indenture as amended or supplemented from time
to time. 
 “Interest Rate Agreement” means any interest rate swap agreement, interest rate cap agreement or other
financial agreement or arrangement with respect to exposure to interest rates. 
 “Investment” in any Person means any
direct or indirect advance, loan (other than advances to customers in the ordinary course of business that are recorded as accounts receivable on the balance sheet of the lender) or other extensions of credit (including by way of Guarantee or
similar arrangement) or capital contribution to (by means of any transfer of cash or other property to others or any payment for property or services for the account or use of others), or any purchase or acquisition for value of Capital Stock,
Indebtedness or other similar instruments issued by, such Person. If the Company or any Restricted Subsidiary issues, sells or otherwise disposes of any Capital Stock of a Person that is a Restricted Subsidiary such that, after giving effect
thereto, such Person is no longer a Restricted Subsidiary, any Investment by the Company or any Restricted Subsidiary in such Person remaining after giving effect thereto will be deemed to be a new Investment at such time. Except as otherwise
provided for herein, the amount of an Investment shall be its Fair Market Value at the time the Investment is made and without giving effect to subsequent changes in value or write-ups, write-downs or
write-offs with respect to such Investment. 

  
 20 

 For purposes of the definition of “Unrestricted Subsidiary,” the definition of
“Restricted Payment” and Section 4.04: 
 (1)    “Investment” shall
include the portion (proportionate to the Company’s equity interest in such Subsidiary) of the Fair Market Value of the net assets of any Subsidiary of the Company at the time that such Subsidiary is designated an Unrestricted Subsidiary; and

 (2)    any property transferred to or from an Unrestricted Subsidiary shall be valued at its Fair
Market Value at the time of such transfer. 
 “Investment Grade Rating” means a rating equal to or higher
than Baa3 (or the equivalent) by Moody’s and BBB– (or the equivalent) by Standard & Poor’s. 
 “Issue
Date” means October 11, 2017. 
 “Legal Holiday” means a Saturday, a Sunday or a day on which banking
institutions are not required to be open in the State of New York. 
 “Lien” means any mortgage, pledge, security interest,
encumbrance, lien or charge of any kind (including any conditional sale or other title retention agreement or lease in the nature thereof). 

“Moody’s” means Moody’s Investors Service, Inc. and any successor to its rating agency business. 

“Net Available Cash” from an Asset Disposition means cash payments received therefrom (including any cash payments received
by way of deferred payment of principal pursuant to a note or installment receivable or otherwise and proceeds from the sale or other disposition of any securities received as consideration, but only as and when received, but excluding any other
consideration received in the form of assumption by the acquiring Person of Indebtedness or other obligations relating to such properties or assets or received in any other non-cash form), in each case net of:

 (1)    all accounting, engineering, investment banking, brokerage, legal, title and recording tax
expenses, commissions and other fees and expenses incurred, and all Federal, state, provincial, foreign and local taxes required to be accrued as a liability under GAAP, as a consequence of such Asset Disposition, and any relocation expenses
incurred or assumed in connection with such Asset Disposition; 
 (2)    all payments made on any
Indebtedness which is secured by any assets subject to such Asset Disposition, in accordance with the terms of any Lien upon or other security agreement of any kind with respect to such assets, or which must by its terms, or in order to obtain a
necessary consent to such Asset Disposition, or by applicable law, be repaid out of the proceeds from (or concurrently with) such Asset Disposition; 

  
 21 

 (3)    all distributions and other payments required to be
made to minority interest holders in Restricted Subsidiaries or to holders of royalty or similar interests as a result of such Asset Disposition; 

(4)    the deduction of appropriate amounts provided by the seller as a reserve for adjustment in respect
of the sale price of the assets that were the subject of such Asset Disposition or as a reserve, in accordance with GAAP, against any liabilities associated with such assets and retained by the Company or any Restricted Subsidiary after such Asset
Disposition; and 
 (5)    any portion of the purchase price from an Asset Disposition placed in escrow,
whether as a reserve for adjustment of the purchase price, for satisfaction of indemnities in respect of such Asset Disposition or otherwise in connection with that Asset Disposition; provided, however, that upon the termination of
that escrow, Net Available Cash will be increased by any portion of funds in the escrow that are released to the Company or any Restricted Subsidiary. 

Notwithstanding the foregoing, to the extent that any or all of the Net Available Cash from an Asset Disposition made outside the United
States of America is prohibited or delayed from being repatriated to the United States pursuant to applicable local law (or to the extent that the Board of Directors of the Company determines, in good faith, that repatriation of such Net Available
Cash would have a material adverse tax consequence to the Company) despite reasonable effort by the Company or such Restricted Subsidiary to exclude or release those funds from such restrictions or to avoid such tax, the portion of such Net
Available Cash so affected shall be deemed excluded from Net Available Cash for so long as such restrictions or material adverse tax consequences exist. 

“Net Cash Proceeds,” with respect to any issuance or sale of Capital Stock or Indebtedness, means the cash proceeds of such
issuance or sale net of attorneys’ fees, accountants’ fees, underwriters’ or placement agents’ fees, discounts or commissions and brokerage, consultant and other fees actually incurred in connection with such issuance or sale and
net of taxes paid or payable as a result thereof. 
 Notwithstanding anything to the contrary herein, all references herein to “Net
Cash Proceeds” shall be deemed to mean cash in an amount equal to the amount of Net Cash Proceeds, but not necessarily the actual cash received from the relevant issuance or sale. The Company and its Restricted Subsidiaries shall have no
obligation to segregate, trace or otherwise identify Net Cash Proceeds (other than the amount thereof), it being agreed that cash is fungible and that the Company’s obligations may be satisfied by the application of funds from other sources.

 “Net Working Capital” of the Company means: 

(1)    all current assets of the Company and its Restricted Subsidiaries, except current assets from
commodity price risk management activities arising in the ordinary course of business; minus 

  
 22 

 (2)    all current liabilities of the Company and its
Restricted Subsidiaries, except current liabilities included in Indebtedness (including the Securities), current liabilities from commodity price risk management activities arising in the ordinary course of business, current liabilities recorded
with respect to stock-based compensation and current liabilities that constitute estimated abandonment costs pursuant to ASC 410; 
 in each
case, determined in accordance with GAAP. 
 “Obligations” means, with respect to any Indebtedness, all obligations for
principal, premium, interest, penalties, fees, indemnifications, reimbursements and other amounts payable pursuant to the documentation governing such Indebtedness. 

“Offering Memorandum” means the final offering memorandum, dated October 5, 2017, relating to the offering of
$450.0 million of 6.375% Senior Notes due 2026 issued on the Issue Date. 
 “Officer” means the Chairman of the Board,
the Chief Executive Officer, the President, the Chief Financial Officer, the Chief Accounting Officer, any Senior Vice President, any Vice President, the Treasurer or the Secretary of the Company. 

“Officers’ Certificate” means a certificate signed by two Officers. 

“Oil and Gas Business” means: 

(1)    the acquisition, exploration, exploitation, development, production, operation and disposition of
interests in Hydrocarbon and Mineral Properties; 
 (2)    the gathering, marketing, distribution,
treating, processing, storage, refining, selling and transporting of any production from Hydrocarbon and Mineral Properties and the marketing of Hydrocarbons and Minerals obtained therefrom and from unrelated Persons; 

(3)    any business or activity relating to or arising from exploration for or exploitation, development,
production, treatment, processing, storage, refining, transportation, gathering or marketing of Hydrocarbons and Minerals; 

(4)    any business relating to oilfield services and any other business providing assets or services used
or useful in connection with the activities described in clauses (1) through (3) of this definition, including the sale, leasing, ownership or operation of drilling rigs, fracturing units or other assets used or useful in any such business; and

 (5)    any activity necessary, appropriate or incidental to the activities described in the preceding
clauses (1) through (4) of this definition. 

  
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 “Oil and Gas Liens” means: 

(1)    Liens on any specific property or any interest therein, construction thereon or improvement thereto
or products or proceeds thereof to secure all or any part of the costs (other than Indebtedness) incurred for surveying, exploration, drilling, extraction, development, operation, production, construction, alteration, repair or improvement of, in,
under or on such property and the plugging and abandonment of wells located thereon (it being understood that, in the case of oil and gas producing properties, or any interest therein, costs incurred for “development” will include costs
incurred for all facilities relating to such properties or to projects, ventures or other arrangements of which such properties form a part or that relate to such properties or interests); 

(2)    Liens on Hydrocarbon and Mineral Properties and Hydrocarbons and Minerals to secure obligations
incurred or Guarantees of obligations incurred (in each case, other than Indebtedness) in connection with or necessarily incidental to commitments for the purchase or sale of, or the transportation or distribution of, Hydrocarbons and Minerals; 

(3)    Liens arising under partnership agreements, oil and gas leases and subleases, overriding royalty
agreements, net profits agreements, production payment agreements, royalty trust agreements, incentive compensation programs on terms that are reasonably customary in the Oil and Gas Business for geologists, geophysicists and other providers of
technical services to the Company or a Restricted Subsidiary, farm-out agreements, farm-in agreements, division orders, contracts for the sale, purchase, exchange,
transportation, gathering or processing of Hydrocarbons and Minerals, unitizations and pooling designations, declarations, orders and agreements, development agreements, joint venture agreements, working interests, joint interest billing
arrangements, production sale contracts, operating agreements, marketing agreements, royalty agreements, gas balancing or deferred production agreements, production sharing agreements, area of mutual interests agreements, injection, repressuring and
recycling agreements, salt water or other disposal agreements, seismic or geophysical permits or agreements, licenses and sublicenses, and other agreements that are customary in the Oil and Gas Business; provided, however, that in all
instances such Liens are limited to the assets that are the subject of the relevant agreement, program, order or contract; 

(4)    Liens securing Production Payments and Reserve Sales; provided, however, that such
Liens are limited to the property that is subject to such Production Payments and Reserve Sales, and such Production Payments and Reserve Sales either: 
  

	 	(a)	were in existence on the Issue Date, 

  

	 	(b)	were created in connection with the acquisition of property after the Issue Date and such Lien was incurred in connection with the financing of, and within 180 days after, the acquisition of the property subject
thereto, or 

  
 24 

	 	(c)	constitute Asset Dispositions made in compliance with Section 4.06; and 

(5)    Liens on pipelines or pipelines facilities that arise by operation of law. 

“Oil and Natural Gas Hedging Contract” means futures contract, swap, option, floor, cap, collar, forward sale, forward
purchase or other agreement or arrangement relating to, or the value of which is dependent upon, crude oil, condensate, natural gas, natural gas liquids or other Hydrocarbons and Minerals, steam, electricity,
by-products of the utilization of Hydrocarbons and Minerals or other assets commonly created, recovered, produced or used in the Oil and Gas Business or revenues or costs (including basis) associated with the
Oil and Gas Business, and equities, bonds, or indices based on any of the foregoing and any other derivative agreement or arrangement based on any of the foregoing. 

“Opinion of Counsel” means a written opinion from legal counsel who is acceptable to the Trustee. The counsel may be an
employee of or counsel to the Company or the Trustee. 
 “Permitted Business Investments” means Investments made in the
ordinary course of, and of a nature that is or shall have become customary in, the Oil and Gas Business, either generally or in the particular geographical location or industry segment in which such Investment is made, in each case as determined in
good faith by the Company, including investments or expenditures for actively exploiting, exploring for, acquiring, developing, producing, processing, gathering, marketing, transporting or otherwise dealing with Hydrocarbons and Minerals or
Hydrocarbon and Mineral Properties (including with respect to plugging and abandonment) through agreements, transactions, interests or arrangements that permit one to share risk or costs, comply with regulatory requirements regarding local ownership
or satisfy other objectives customarily achieved through the conduct of the Oil and Gas Business jointly with third parties, including: 

(1)    ownership of Hydrocarbon and Mineral Properties or any interest therein or gathering,
transportation, processing, storage or related systems or ancillary real or personal property interests (including intellectual property), either directly or indirectly, including through entities the primary business of which is to own or operate
any of the foregoing; 
 (2)    the entry into and Investments in the form of or pursuant to operating
agreements, joint ventures, processing agreements, working interests, royalty interests, mineral leases, farm-in agreements, farm-out agreements, development agreements,
production sharing agreements, production sales and marketing agreements, area of mutual interest agreements, contracts for the sale, 

  
 25 

 
transportation or exchange of Hydrocarbons and Minerals, unitization agreements, pooling arrangements, joint bidding agreements, service contracts, partnership agreements (whether general or
limited), subscription agreements, stock purchase agreements, stockholder agreements or other similar or customary agreements (including for limited liability companies), incentive compensation programs for geologists, geophysicists and other
providers of technical services, and other similar or customary agreements, transactions, properties, interests or arrangements, and Investments and expenditures in connection therewith or pursuant thereto, in each case made or entered into in the
ordinary course of the Oil and Gas Business; and 
 (3)     direct or indirect ownership interests in
drilling rigs, fracturing units, vehicles, vessels and other equipment customarily used or useful in the Oil and Gas Business. 

“Permitted Grizzly Disposition” means a sale, lease, transfer or other disposition or issuance of any or all (or
substantially all) of the Capital Stock or assets of Grizzly Holdings. 
 “Permitted Investment” means an Investment by the
Company or any Restricted Subsidiary in: 
 (1)    (i) the Company or a Restricted Subsidiary or
(ii) a Person that will, upon the making of such Investment, become a Restricted Subsidiary; provided, however, that the primary business of such Restricted Subsidiary is a Related Business; 

(2)    another Person if, as a result of such Investment, such other Person is merged or consolidated with
or into, or transfers or conveys all or substantially all its assets to, the Company or a Restricted Subsidiary; provided, however, that such Person’s primary business is a Related Business; 

(3)    cash and Temporary Cash Investments; 

(4)    receivables owing to the Company or any Restricted Subsidiary if created or acquired in the ordinary
course of business and payable or dischargeable in accordance with customary trade terms; provided, however, that such trade terms may include such concessionary trade terms as the Company or any such Restricted Subsidiary deems reasonable
under the circumstances; 
 (5)    payroll, travel and similar extensions of credit to cover matters that
are expected at the time of such extensions of credit ultimately to be treated as expenses for accounting purposes and that are made in the ordinary course of business; 

(6)    extensions of credit to employees, officers, directors, customers and suppliers made in the ordinary
course of business of the Company or such Restricted Subsidiary; 

  
 26 

 (7)    Capital Stock, obligations or securities received in
settlement or resolution of obligations created in the ordinary course of business and owing to the Company or any Restricted Subsidiary or in satisfaction of judgments; 

(8)    any Person to the extent such Investment represents the
non-cash portion of the consideration received for (i) an Asset Disposition as permitted pursuant to Section 4.06 or (ii) a disposition of assets not constituting an Asset Disposition; 

(9)    any Person where such Investment was acquired by the Company or any of its Restricted Subsidiaries
(a) in exchange for any other Investment or accounts receivable held by the Company or any such Restricted Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization or recapitalization of the issuer of such other
Investment or accounts receivable or (b) as a result of a foreclosure by the Company or any of its Restricted Subsidiaries with respect to any secured Investment or other transfer of title with respect to any secured Investment in default; 

(10)    any Person to the extent such Investments consist of prepaid expenses, negotiable instruments held
for collection and lease, utility and workers’ compensation, performance and other similar pledges and deposits made in the ordinary course of business by the Company or any Restricted Subsidiary; 

(11)    any Person to the extent such Investments consist of Hedging Obligations not prohibited by
Section 4.03; 
 (12)    any extension, modification, exchange, conversion or renewal of an
Investment or any Investment constituting proceeds of, or made with proceeds of, the disposition of an Investment, but in each case only to the extent not involving additional advances, contributions or other Investments of cash or other assets or
other increases thereof (other than as a result of the appreciation, accrual or accretion of interest or original issue discount or the issuance of pay-in-kind
securities, in each case, pursuant to the terms of such original Investment); 
 (13)    Guarantees of
performance or other obligations (other than Indebtedness) arising in the ordinary course in the Oil and Gas Business, including obligations under oil and natural gas exploration, development, joint operating and related agreements and licenses or
concessions related to the Oil and Gas Business; 
 (14)    Permitted Business Investments; 

(15)    Guarantees issued or made in accordance with Section 4.03 other than Guarantees of
Indebtedness of an Affiliate of the Company that is not a Restricted Subsidiary of the Company; 

(16)    obligations of one or more officers, directors, or employees of the Company or any of its
Restricted Subsidiaries in connection with such 

  
 27 

 
individual’s acquisition of shares of Capital Stock of the Company (and Refinancings of the principal thereof and accrued interest thereon) so long as no net cash is paid by the Company or
any of its Restricted Subsidiaries to such individuals in connection with the acquisition of any such obligations; 

(17)    Investments acquired after the Issue Date as a result of the acquisition by the Company or any of
its Restricted Subsidiaries of another Person, including by way of a merger, amalgamation, or consolidation with or into the Company or any of its Restricted Subsidiaries, in a transaction that is not prohibited by Section 5.01 to the extent
that such Investments were not made in contemplation of such acquisition, merger, amalgamation or consolidation and were in existence on the date of such acquisition, merger, amalgamation or consolidation; 

(18)    advances and prepayments for asset purchases in the ordinary course of business; 

(19)    Grizzly Oil Sands ULC in the amounts required by, or Grizzly Holdings in amounts sufficient to
permit Grizzly Holdings to make the Investments required by, the Grizzly Sponsor Contribution Agreement; 

(20)    any Person to the extent consisting of Capital Stock of Grizzly Holdings or assets received from
Grizzly Holdings; 
 (21)    Investments received in connection with a Permitted Grizzly Disposition; and

 (22)    Persons to the extent that, at the time of each such Investment, the aggregate amount of such
Investments made during each period ending December 31 after October 17, 2012, beginning with the period starting on October 17, 2012 and ending on December 31, 2012, and continuing thereafter with calendar years, when taken
together with all other Investments made after October 17, 2012 and during such period pursuant to this clause (22), does not exceed the greater of $100.0 million and 4.0% of Adjusted Consolidated Net Tangible Assets, determined as of the
date of such Investment. 
 For purposes of this definition, in the event that a proposed Investment (or portion thereof) meets the criteria
of more than one of the categories of Permitted Investments described in clauses (1) through (22) above, the Company will be entitled to classify (but not reclassify) such Investment (or portion thereof) in one or more of such categories set
forth above, but, notwithstanding the foregoing, any Investment made in a Person pursuant to clause (22) above may be reclassified as outstanding under clause (1) above (and no longer outstanding under clause (22) above) if such
Person thereafter becomes a Restricted Subsidiary. 

  
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 “Permitted Liens” means, with respect to any Person: 

(1)    pledges or deposits by such Person under workers’ compensation laws, unemployment insurance
laws or similar legislation or regulation, or good-faith deposits in connection with bids, tenders, contracts (other than for the payment of Indebtedness) or leases to which such Person is a party, plugging and abandonment obligations, or deposits
to secure public or statutory obligations of such Person or deposits of cash or United States government bonds to secure surety bonds, appeal bonds, performance or return of money bonds to which such Person is a party, or deposits as security for
contested taxes or import duties or for the payment of rent, in each case Incurred in the ordinary course of business; 

(2)    (a) Liens incurred in the ordinary course of business (other than in connection with Indebtedness)
or imposed by law, such as carriers’, operators’, repairmens’, vendors’, suppliers’, workers’, landlords’, warehousemen’s, mechanics’ and construction Liens, in each case for sums not yet overdue for more
than 60 days or being contested in good faith by appropriate proceedings, (b) Liens arising out of judgments or awards against such Person with respect to which such Person shall then be proceeding with an appeal or other proceedings for review
or which do not constitute an Event of Default, (c) Liens incurred in the ordinary course of business (other than in connection with Indebtedness) relating to banker’s Liens, rights of set-off,
rights of revocation, refund, chargeback or similar rights and remedies as to deposit accounts, instruments or other funds maintained with a creditor depository institution; provided, however, that such deposit account is not a dedicated cash
collateral account and is not subject to restrictions against access by the Company in excess of those set forth by regulations promulgated by the Federal Reserve Board and (d) notices of lis pendens and associated rights related to litigation
being contested in good faith by appropriate proceedings and for which adequate reserves have been made; 

(3)    Liens for taxes, assessments and governmental charges not yet subject to penalties for non-payment or which are being contested in good faith by appropriate proceedings; 

(4)    Liens in favor of issuers of surety or performance bonds or letters of credit or bankers’
acceptances issued pursuant to the request of and for the account of such Person in the ordinary course of its business; provided, however, that such letters of credit do not constitute Indebtedness; 

(5)    survey exceptions, encumbrances, servitudes, permits, conditions, covenants, ground leases,
easements or reservations of, or rights of others for, licenses, rights-of-way, roads, pipelines, transmission lines, transportation lines, distribution lines for the
removal of gas, oil, coal or other minerals or timber, sewers, electric lines, telegraph and telephone lines and other similar purposes, or for the joint or common use of real estate rights of way, facilities and equipment, Liens related to surface
leases and surface operations, or zoning or other restrictions (including minor defects or irregularities in title and similar encumbrances) as to the use of real property or Liens that were not Incurred in connection with Indebtedness and that do
not in the aggregate materially adversely affect the value of said properties or materially impair their use in the operation of the business of such Person; 

  
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 (6)    Liens securing Indebtedness Incurred to finance the
construction, purchase or lease of, or repairs, improvements or additions to, property, plant or equipment of such Person; provided, however, that the Lien may not extend to any other property owned by such Person or any of its
Restricted Subsidiaries at the time the Lien is Incurred (other than assets and property affixed or appurtenant thereto, improvements, additions and accessions thereto and proceeds and distributions thereof), and the Indebtedness (other than any
interest thereon) secured by the Lien may not be Incurred more than 180 days after the later of the acquisition, completion of construction, repair, improvement, addition or commencement of full operation of the property subject to the Lien;

 (7)    prior to the Termination Date, Liens to secure Indebtedness permitted under the provisions
described in Section 4.03(b)(1) and related obligations; 
 (8)    Liens existing on the Issue Date
(other than Liens Incurred to secure obligations under the Existing Credit Agreement); 
 (9)    Liens on
property or shares of Capital Stock of another Person at the time such other Person becomes a Subsidiary of such Person (other than a Lien Incurred in connection with, or to provide all or any portion of the funds or credit support utilized to
consummate, the transaction or series of transactions pursuant to which such Person becomes a Subsidiary); provided, however, that the Liens may not extend to any other property owned by such Person or any of its Restricted
Subsidiaries (other than assets and property affixed or appurtenant thereto and improvements, additions and accessions thereto and proceeds and distributions thereof); 

(10)    Liens on property at the time such Person or any of its Subsidiaries acquires the property,
including any acquisition by means of a merger or consolidation with or into such Person or a Subsidiary of such Person (other than a Lien Incurred in connection with, or to provide all or any portion of the funds or credit support utilized to
consummate, the transaction or series of transactions pursuant to which such Person or any of its Subsidiaries acquired such property); provided, however, that the Liens may not extend to any other property owned by such Person or any
of its Restricted Subsidiaries (other than assets and property affixed or appurtenant thereto and improvements, additions and accessions thereto and proceeds and distributions thereof); 

(11)    Liens securing Indebtedness or other obligations owing to the Company or a Restricted Subsidiary;

 (12)    Liens securing Hedging Obligations so long as such Hedging Obligations are not prohibited by
Section 4.03; 

  
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 (13)    Oil and Gas Liens; 

(14)    Liens securing the Securities or any Subsidiary Guarantee; 

(15)    Liens on the Capital Stock of Unrestricted Subsidiaries; 

 

	 	(16)	Liens arising under this Indenture in favor of the Trustee for its own benefit and similar Liens in favor of other trustees, agents and representatives arising under instruments governing Indebtedness permitted to be
Incurred under this Indenture; provided, however, that such Liens are solely for the benefit of the trustees, agents, or representatives in their capacities as such and not for the benefit of the holders of such Indebtedness;

 (17)    Liens arising from the deposit of funds, cash equivalents or securities or other
property in trust for the purpose of decreasing, discharging, redeeming or defeasing Indebtedness so long as such deposit of funds, cash equivalents or securities or other property and such decreasing, discharging, redeeming or defeasing of
Indebtedness are not prohibited by Section 4.04; 
 (18)    Liens to secure any Refinancing (or
successive Refinancings) as a whole, or in part, of any Indebtedness secured by any Lien referred to in clause (6), (8), (9), (10) or (14) of this definition; provided, however, that: 

 

	 	(A)	such new Lien shall be limited to all or part of the same property and assets that secured or, under the written agreements pursuant to which the original Lien arose, could have secured the original Lien (plus assets or
property affixed or appurtenant thereto, improvements, additions and accessions thereto and proceeds and distributions thereof); and 

  

	 	(B)	the Indebtedness secured by such Lien at such time is not increased to any amount greater than the sum of (x) the outstanding principal amount or, if greater, committed amount of such Indebtedness at the time the
original Lien became a Permitted Lien and (y) an amount necessary to pay accrued but unpaid interest and any fees and expenses, including premiums, related to such Refinancing; 

 

	 	(19)	Liens Incurred to secure cash management services in the ordinary course of business; 

  

	 	(20)	Liens on assets pursuant to merger agreements, stock or asset purchase agreements and similar agreements limiting the disposition of such assets pending the closing of the transactions contemplated thereby;

  
 31 

	 	(21)	Liens on insurance policies and the proceeds thereof securing the financing of the premiums with respect thereto; 

  

	 	(22)	Liens on any cash earnest money deposits made by the Company or any Restricted Subsidiary in connection with any letter of intent or purchase agreement; 

 

	 	(23)	prior to the Termination Date, Liens securing Indebtedness permitted under Section 4.03(b)(14) to the extent such Liens extend only to the assets that are the subject of the agreements described in such
Section 4.03(b)(14); 

  

	 	(24)	any interest or title of a lessor under any lease; 

  

	 	(25)	Liens encumbering property or assets under construction arising from progress or partial payments by a customer of the Company or its Restricted Subsidiaries relating to such property or assets; 

 

	 	(26)	Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection with the importation of goods; 

 

	 	(27)	leases, licenses, subleases and sublicenses of assets (including real property and intellectual property rights) that do not materially interfere with the ordinary conduct of the business of the Company and its
Restricted Subsidiaries, taken as a whole; 

  

	 	(28)	any encumbrance or restriction (including put and call arrangements) with respect to Capital Stock of any joint venture or any interest acquired pursuant to a Permitted Business Investment; 

 

	 	(29)	Liens (A) on advances of cash or Temporary Cash Investments in favor of the seller of any asset to be acquired by the Company or any Restricted Subsidiary to be applied against the purchase price for such asset,
(B) consisting of an agreement to dispose of any property in a disposition not prohibited by this Indenture and (C) on cash earnest money deposits made by the Company or any Restricted Subsidiary in connection with any letter of intent or
purchase agreement not prohibited by this Indenture; 

  

	 	(30)	Liens reserved in oil and gas mineral leases for bonus or rental payments and for compliance with the terms of such leases; 

  

	 	(31)	prior to the Termination Date, other Liens to the extent that, at the time of each such incurrence, the aggregate outstanding principal amount of the obligations secured thereby does not exceed the greater of (a) 4.0%
of Adjusted Consolidated Net Tangible Assets determined as of the date of such incurrence and (b) $100.0 million at any one time outstanding; and 

  
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	 	(32)	from and after the Termination Date, other Liens to the extent that, at the time of each such incurrence, the aggregate outstanding principal or face amount of the obligations secured thereby does not exceed the greater
of (a) 15.0% of Adjusted Consolidated Net Tangible Assets determined as of the date of such incurrence, and (b) the aggregate principal or face amount of obligations outstanding on the Termination Date and at such time secured by Liens
permitted under this definition of Permitted Liens clauses (7), (23) and (31). 

 In each case set forth above and in the definition of the
term “Oil and Gas Liens,” notwithstanding any stated limitation on the assets or property that may be subject to such Lien, a Permitted Lien or an Oil and Gas Lien on a specified asset or property or group or type of assets or property may
include Liens on all improvements, repairs, additions, attachments and accessions thereto, assets and property affixed or appurtenant thereto, construction thereon, parts, replacements and substitutions therefor, and all products and proceeds
thereof, including dividends, distributions, interest and increases in respect thereof. 
 “Person” means any individual,
corporation, partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity. 

“Preferred Stock,” as applied to the Capital Stock of any Person, means Capital Stock of any class or classes (however
designated) which is preferred as to the payment of dividends or distributions, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such Person, over shares of Capital Stock of any other class of such
Person. 
 “principal” of a Security means the principal of the Security plus the premium, if any, payable on the Security
which is due or overdue or is to become due at the relevant time. 
 “Production Payments” means, collectively,
Dollar-Denominated Production Payments and Volumetric Production Payments. 
 “Production Payments and Reserve Sales” means
the grant or transfer to any Person of a Dollar-Denominated Production Payment, Volumetric Production Payment, royalty, overriding royalty, net profits interest, master limited partnership interest or other interest in oil and natural gas
properties, reserves or the right to receive all or a portion of the production or the proceeds from the sale of production attributable to such properties or reserves. 

  
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 “Purchase Money Indebtedness” means Indebtedness (including Capital Lease
Obligations) (1) consisting of the deferred purchase price of property, conditional sale obligations, obligations under any title retention agreement, other purchase money obligations and obligations in respect of industrial revenue bonds or
similar Indebtedness, in each case where the maturity of such Indebtedness does not exceed the anticipated useful life of the asset being financed, and (2) Incurred to finance the purchase, lease or improvement by the Company or a Restricted
Subsidiary of such property; provided, however, that such Indebtedness is Incurred within 180 days after such acquisition of such property. 

“Qualifying Equity Offering” means the issuance after the Issue Date of Capital Stock of the Company (other than Disqualified
Stock) to any Person or Persons other than a Subsidiary of the Company. 
 “Quotation Agent” means the Reference Treasury
Dealer appointed by the Company. 
 “Reference Treasury Dealer” means J.P. Morgan Securities LLC and its successors or
affiliates and assigns and two other nationally recognized investment banking firms selected by the Company that are primary U.S. Government securities dealers. 

“Reference Treasury Dealer Quotations” means with respect to each Reference Treasury Dealer and any redemption date, the
average, as determined by the Quotation Agent, of the bid and asked prices for the Comparable Treasury Issue, expressed in each case as a percentage of its principal amount, quoted in writing to the Trustee by such Reference Treasury Dealer at 5:00
p.m., New York City time, on the third Business Day immediately preceding such redemption date. 
 “Refinance” means, in
respect of any Indebtedness, to refinance or refund or to issue other Indebtedness in exchange or replacement for, such Indebtedness (whether contemporaneously with the satisfaction of such Indebtedness or within 180 days of such satisfaction).
“Refinanced” and “Refinancing” shall have correlative meanings. 
 “Refinancing Indebtedness” means
Indebtedness that Refinances any Indebtedness of the Company or any Restricted Subsidiary existing on the Issue Date or Incurred in compliance with this Indenture, including Indebtedness that Refinances Refinancing Indebtedness; provided,
however, that: 
 (1)    such Refinancing Indebtedness has a Stated Maturity no earlier than the
earlier of (a) the date 367 days after the Stated Maturity of the Securities and (b) the Stated Maturity of the Indebtedness being Refinanced; 

(2)    such Refinancing Indebtedness has an Average Life at the time such Refinancing Indebtedness is
Incurred that is equal to or greater than the lesser of (a) the Average Life of the Securities at such time plus 367 days and (b) the Average Life of the Indebtedness being Refinanced; 

  
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 (3)    such Refinancing Indebtedness has an aggregate
principal amount (or if Incurred with original issue discount, an aggregate issue price) that is equal to or less than the aggregate principal amount (or if Incurred with original issue discount, the aggregate accreted value) then outstanding (plus
accrued interest thereon and fees and expenses, including any premium and defeasance costs) under the Indebtedness being Refinanced; and 

(4)    if the Indebtedness being Refinanced is subordinated in right of payment to the Securities, such
Refinancing Indebtedness is subordinated in right of payment to the Securities at least to the same extent as the Indebtedness being Refinanced; 

provided further, however, that Refinancing Indebtedness shall not include (A) Indebtedness of a Restricted Subsidiary that is not a
Subsidiary Guarantor that Refinances Indebtedness of the Company or a Subsidiary Guarantor and (B) Indebtedness of the Company or a Restricted Subsidiary that Refinances Indebtedness of an Unrestricted Subsidiary. 

“Registration Rights Agreement” means the Registration Rights Agreement dated the Issue Date, among the Company, the
Subsidiary Guarantors and the representative of the Initial Purchasers. 
 “Related Business” means any Oil and Gas
Business, any business in which the Company, any of its Restricted Subsidiaries or any Person in which the Company or any Restricted Subsidiary had an Investment was engaged on the Issue Date, and any business related, ancillary or complementary to
any of the foregoing. 
 “Restricted Payment” with respect to any Person means: 

(1)    the declaration or payment, without duplication, of any dividends or any other distributions of any
sort in respect of its Capital Stock (including any payment in connection with any merger or consolidation involving such Person) or similar payment to the direct or indirect holders of its Capital Stock (other than (A) dividends or
distributions payable solely in its Capital Stock (other than Disqualified Stock), (B) dividends or distributions payable to the Company or a Restricted Subsidiary and (C) to the holders of any class of its Capital Stock on a pro rata
basis, dividends or other distributions made by a Subsidiary); 
 (2)    the purchase, repurchase,
redemption, defeasance or other acquisition or retirement for value of any Capital Stock of the Company held by any Person (other than by a Restricted Subsidiary) or of any Capital Stock of a Restricted Subsidiary held by any Affiliate of the
Company (other than by the Company or a Restricted Subsidiary and other than transactions involving all holders of any class of Capital Stock of such Restricted Subsidiary on a pro rata basis), including in connection with any merger
or consolidation and including the exercise of any option to exchange any Capital Stock (other than into Capital Stock of the Company that is not Disqualified Stock); 

  
 35 

 (3)    the purchase, repurchase, redemption, defeasance or
other acquisition or retirement for value, prior to scheduled maturity, scheduled repayment or scheduled sinking fund payment of any Subordinated Obligations of the Company or any Subsidiary Guarantor (other than (A) Subordinated Obligations
held by the Company or a Restricted Subsidiary and (B) the purchase, repurchase, redemption, defeasance or other acquisition or retirement of Subordinated Obligations purchased in anticipation of satisfying a sinking fund obligation, principal
installment or final maturity, in each case due within one year of the date of such purchase, repurchase, redemption, defeasance or other acquisition or retirement); or 

(4)    the making of any Investment (other than a Permitted Investment) in any Person. 

“Restricted Subsidiary” means any Subsidiary of the Company that is not an Unrestricted Subsidiary. 

“Sale/Leaseback Transaction” means an arrangement relating to property owned by the Company or a Restricted Subsidiary on the
Issue Date or thereafter acquired by the Company or a Restricted Subsidiary whereby the Company or a Restricted Subsidiary transfers such property to a Person (other than the Company or a Restricted Subsidiary) and thereafter the Company or a
Restricted Subsidiary leases it from such Person. 
 “SEC” means the U.S. Securities and Exchange Commission. 

“Securities” means the Initial Securities, the Exchange Securities, the Private Exchange Securities and any Additional
Securities, treated as a single class. 
 “Securities Act” means the U.S. Securities Act of 1933, as amended. 

“Senior Indebtedness” means with respect to any Person: 

(1)    Indebtedness of such Person, whether outstanding on the Issue Date or thereafter Incurred; and 

(2)    all other Obligations of such Person (including interest accruing on or after the filing of any
petition in bankruptcy or for reorganization relating to such Person whether or not post-filing interest is allowed in such proceeding) in respect of Indebtedness described in clause (1) above 

unless, in the case of clauses (1) and (2), in the instrument creating or evidencing the same or pursuant to which the same is outstanding, it is
provided that such Indebtedness or other Obligations are subordinate in right of payment to the Securities or the Subsidiary Guarantee of such Person, as the case may be; provided, however, that Senior Indebtedness shall not include:

 (A)    any obligation of such Person to the Company or any Subsidiary of the Company; 

  
 36 

 (B)    any liability for Federal, state, local or other taxes
owed or owing by such Person; 
 (C)    any accounts payable or other liability to trade creditors
arising in the ordinary course of business; 
 (D)    any Indebtedness or other Obligation of such Person
that is subordinate in right of payment to any other Indebtedness or other Obligation of such Person; or 

(E)    that portion of any Indebtedness that at the time of Incurrence was Incurred in violation of this
Indenture. 
 “Significant Subsidiary” means any Restricted Subsidiary that would be a “Significant Subsidiary”
of the Company within the meaning of Rule 1-02 under Regulation S-X promulgated by the SEC. 

“Standard & Poor’s” means Standard & Poor’s, a division of The McGraw-Hill
Companies, Inc., and any successor to its rating agency business. 
 “Stated Maturity” means, with respect to any security,
the date specified in such security as the fixed date on which the final payment of principal of such security is due and payable, including pursuant to any mandatory redemption provision (but excluding any provision providing for the repurchase of
such security at the option of the holder thereof upon the happening of any contingency unless such contingency has occurred). 

“Subordinated Obligation” means, with respect to a Person, any Indebtedness of such Person (whether outstanding on the Issue
Date or thereafter Incurred) that is subordinate in right of payment to the Securities or a Subsidiary Guarantee of such Person, as the case may be, pursuant to a written agreement to that effect. 

“Subsidiary” means, with respect to any Person, any corporation, association, partnership or other business entity of which
more than 50% of the total voting power of shares of Voting Stock is at the time owned or controlled, directly or indirectly, by (1) such Person, (2) such Person and one or more Subsidiaries of such Person or (3) one or more
Subsidiaries of such Person. 
 Unless otherwise specified, “Subsidiary” means a Subsidiary of the Company. 

“Subsidiary Guarantee” means a Guarantee by a Subsidiary Guarantor of the Company’s obligations with respect to the
Securities. 

  
 37 

 “Subsidiary Guarantor” means each Subsidiary of the Company that executes this
Indenture as a guarantor and each other Subsidiary of the Company that thereafter Guarantees the Securities pursuant to the terms of this Indenture, in each case unless and until such Subsidiary is released from its obligations under its Subsidiary
Guarantee pursuant to the terms of this Indenture. 
 “Temporary Cash Investments” means any of the following: 

(1)    any investment in direct obligations of the United States of America or any agency or
instrumentality thereof or obligations guaranteed by the United States of America or any agency or instrumentality thereof; 

(2)    investments in demand and time deposit accounts, bankers’ acceptances, overnight bank deposits,
certificates of deposit and money market deposits maturing within 12 months of the date of acquisition thereof issued by a bank or trust company which is organized under the laws of the United States of America, any State thereof or any foreign
country recognized by the United States of America, and which bank or trust company has capital, surplus and undivided profits aggregating in excess of $500.0 million (or the foreign currency equivalent thereof) and has outstanding debt which
is rated “A” (or such similar equivalent rating) or higher by at least one nationally recognized statistical rating organization (registered pursuant Section 15E of the Exchange Act) or any money-market fund sponsored by a registered
broker dealer or mutual fund distributor; 
 (3)    repurchase obligations with a term of not more than
180 days for underlying securities of the types described in clause (1) above entered into with a bank or trust company meeting the qualifications described in clause (2) above; 

(4)    investments in commercial paper issued by a corporation (other than an Affiliate of the Company)
organized and in existence under the laws of the United States of America or any foreign country recognized by the United States of America with a rating at the time as of which any investment therein is made of
“P-1” (or higher) according to Moody’s or “A-1” (or higher) according to Standard and Poor’s; 

(5)    investments in securities with maturities of nine months or less from the date of acquisition issued
or fully guaranteed by any state, commonwealth or territory of the United States of America, or by any political subdivision or taxing authority thereof, and, at the time of acquisition, rated at least “A” by Standard &
Poor’s or “A” by Moody’s (or equivalent ratings by any other nationally recognized rating agency); 

(6)    investments in money market funds that invest substantially all their assets in securities of the
types described in clauses (1) through (5) above; and 

  
 38 

 (7)    investments in deposits available for withdrawal on
demand with any commercial bank or similar institution that is organized under the laws of any country in which the Company or any Restricted Subsidiary maintains an office or is engaged in the Oil and Gas Business; provided, however,
that (i) all such deposits have been made in such accounts in the ordinary course of business and (ii) such deposits do not at any one time exceed $5.0 million in the aggregate. 

“Trust Indenture Act” means the Trust Indenture Act of 1939 (15 U.S.C. §§77aaa-77bbbb) as in effect on the
Issue Date. 
 “Trust Officer” means the Chairman of the Board, the President or any other officer or assistant officer of
the Trustee assigned by the Trustee to administer its corporate trust matters. 
 “Trustee” means Wells Fargo Bank, N.A.
until a successor replaces it and, thereafter, means the successor. 
 “Uniform Commercial Code” means the New York Uniform
Commercial Code as in effect from time to time. 
 “Unrestricted Subsidiary” means: 

(1)    any Subsidiary of the Company that at the time of determination shall be designated an Unrestricted
Subsidiary by the Board of Directors in the manner provided below; 
 (2)    any Subsidiary of an
Unrestricted Subsidiary; and 
 (3)    Grizzly Holdings; 

in each case unless and until such time as such Subsidiary is designated a Restricted Subsidiary for the purposes of this Indenture. The Board of Directors may
designate any Subsidiary of the Company (including any newly acquired or newly formed Subsidiary) to be an Unrestricted Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Capital Stock or Indebtedness of, or holds any Lien on any
property of, the Company or any other Restricted Subsidiary of the Company that is not a Subsidiary of the Subsidiary to be so designated; provided, however, that either (A) the Subsidiary to be so designated has total assets of
$1,000 or less or (B) if such Subsidiary has assets greater than $1,000, such designation would not be prohibited by Section 4.04 (the amount of any such Restricted Payment or Permitted Investment being calculated in the manner set forth
in the definition of the term “Investment”). 
 The Board of Directors may designate any Unrestricted Subsidiary to be a
Restricted Subsidiary; provided, however, that immediately after giving effect to such designation (A) the Company could Incur $1.00 of additional Indebtedness under Section 4.03(a) and (B) no Default shall have occurred
and be continuing. Any such designation by the Board of Directors shall be evidenced to the Trustee by promptly filing with the Trustee a copy of the resolution of the Board of Directors giving effect to such designation and an Officers’
Certificate certifying that such designation complied with the foregoing provisions. 

  
 39 

 “U.S. Government Obligations” means direct obligations (or certificates
representing an ownership interest in such obligations) of the United States of America (including any agency or instrumentality thereof) for the payment of which the full faith and credit of the United States of America is pledged and which are not
callable at the issuer’s option. 
 “Volumetric Production Payments” means production payment obligations recorded as
deferred revenue in accordance with GAAP, together with all undertakings and obligations in connection therewith. 
 “Voting
Stock” of a Person means all classes of Capital Stock of such Person then outstanding and normally entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof. 

“Wholly Owned Subsidiary” means a Restricted Subsidiary all the Capital Stock of which (other than directors’ qualifying
shares and shares required by applicable law to be held by a Person other than the Company or a Restricted Subsidiary) is owned by the Company or one or more other Wholly Owned Subsidiaries. 

  
 40 

 SECTION 1.02. Other Definitions. 

 

			
		
	 Term
	  	Defined in
Section
	 “Affiliate Transaction”
	  	4.07(a)
		
	 “Appendix”
	  	2.01
		
	 “Asset Disposition Offer”
	  	4.06(b)
		
	 “Change of Control Offer”
	  	4.09(b)
		
	 “Change of Control Purchase Price”
	  	4.09(b)(1)
		
	 “Commission”
	  	1.03
		
	 “covenant defeasance option”
	  	8.01(b)
		
	 “Definitive Securities”
	  	Appendix
Section 1.1
		
	 “Depository”
	  	Appendix
Section 1.1
		
	 “Event of Default”
	  	6.01
		
	 “Exchange Securities”
	  	Appendix
Section 1.1
		
	 “Global Securities”
	  	Appendix
Section 2.1(a)
		
	 “Guaranteed Obligations”
	  	10.01(a)
		
	 “indenture securities”
	  	1.03
		
	 “indenture security holder”
	  	1.03
		
	 “indenture to be qualified”
	  	1.03
		
	 “indenture trustee”
	  	1.03
		
	 “Initial Lien”
	  	4.10
		
	 “Initial Purchasers”
	  	Appendix
Section 1.1

  
 41 

			
		
	 “Initial Securities”
	  	Appendix
Section 1.1
		
	 “legal defeasance option”
	  	8.01(b)
		
	 “Offer Amount”
	  	4.06(c)(2)
		
	 “Offer Period”
	  	4.06(c)(2)
		
	 “Paying Agent”
	  	2.03
		
	 “Post-Closing Payments”
	  	1.01
(“Indebtedness”)
		
	 “Private Exchange Securities”
	  	Appendix
Section 1.1
		
	 “Purchase Date”
	  	4.06(c)(1)
		
	 “Registrar”
	  	2.03
		
	 “Successor Company”
	  	5.01(a)(1)
		
	 “Termination Date”
	  	4.15(a)

 SECTION 1.03.    Incorporation by Reference of Trust Indenture Act. This Indenture
is subject to the mandatory provisions of the Trust Indenture Act which are incorporated by reference in and made a part of this Indenture. The following Trust Indenture Act terms have the following meanings: 

“Commission” means the SEC; 

“indenture securities” means the Securities and the Subsidiary Guarantees; 

“indenture security holder” means a Securityholder; 

“indenture to be qualified” means this Indenture; 

“indenture trustee” or “institutional trustee” means the Trustee; and 

“obligor” on the indenture securities means the Company, each Subsidiary Guarantor and any other obligor on the indenture
securities. 
 All other Trust Indenture Act terms used in this Indenture that are defined by the Trust Indenture Act, defined by Trust
Indenture Act reference to another statute or defined by SEC rule have the meanings assigned to them by such definitions. 

  
 42 

 SECTION 1.04.    Rules of Construction. Unless the context otherwise
requires: 
 (1)    a term has the meaning assigned to it; 

(2)    an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP;

 (3)    “or” is not exclusive; 

(4)    “including” means including without limitation; 

(5)    words in the singular include the plural and words in the plural include the singular; 

(6)    Indebtedness shall not be considered subordinate in right of payment to any other Indebtedness
solely by virtue of being unsecured, secured with a subset of the collateral securing such other Indebtedness or with different collateral, secured to a lesser extent or secured with lower priority, by virtue of structural subordination, by virtue
of maturity date, order of payment or order of application of funds, or by virtue of not being guaranteed by all guarantors of such other Indebtedness, and any subordination in right of payment must be pursuant to a written agreement or instrument;

 (7)    the principal amount of any noninterest bearing or other discount security at any date shall be
the principal amount thereof that would be shown on a balance sheet of the issuer dated such date prepared in accordance with GAAP; 

(8)    the principal amount of any Preferred Stock shall be (A) the maximum liquidation value of such
Preferred Stock or (B) the maximum mandatory redemption or mandatory repurchase price with respect to such Preferred Stock, whichever is greater; and 

(9)    all references to the date the Securities were originally issued shall refer to the Issue Date. 

Article 2 
 The Securities

 SECTION 2.01.    Form and Dating. Provisions relating to the Initial Securities, the Private Exchange
Securities and the Exchange Securities are set forth in the Rule 144A/Regulation S Appendix attached hereto (the “Appendix”), which is hereby incorporated in, and expressly made part of, this Indenture. The Initial
Securities and the Trustee’s certificate of authentication shall be substantially in the form of Exhibit 1 to the Appendix, which is hereby incorporated in, and expressly made a part of, this Indenture. The Exchange Securities, the Private
Exchange Securities and the Trustee’s certificate of authentication shall be substantially in the form of Exhibit A, which is hereby 

  
 43 

 
incorporated in and expressly made a part of this Indenture. The Securities may have notations, legends or endorsements required by law, stock exchange rule, agreements to which the Company is
subject, if any, or usage (provided that any such notation, legend or endorsement is in a form acceptable to the Company). Each Security shall be dated the date of its authentication. The terms of the Securities set forth in the Appendix and
Exhibit A are part of the terms of this Indenture. 
 SECTION 2.02.    Execution and Authentication. Two
Officers shall sign the Securities for the Company by manual or facsimile signature. 
 If an Officer whose signature is on a Security no
longer holds that office at the time the Trustee authenticates the Security, the Security shall be valid nevertheless. 
 A Security shall
not be valid until an authorized signatory of the Trustee manually signs the certificate of authentication on the Security. The signature shall be conclusive evidence that the Security has been authenticated under this Indenture. 

On the Issue Date, the Trustee shall authenticate and deliver $450.0 million of 6.375% Senior Notes due 2026 and, at any time and from
time to time thereafter, the Trustee shall authenticate and deliver Securities for original issue in an aggregate principal amount specified in such order, in each case upon a written order of the Company signed by two Officers or by an Officer and
either an Assistant Treasurer or an Assistant Secretary of the Company. Such order shall specify the amount of the Securities to be authenticated and the date on which the original issue of Securities is to be authenticated and, in the case of an
issuance of Additional Securities pursuant to Section 2.13 after the Issue Date, shall certify that such issuance is in compliance with Section 4.03. 

The Trustee may appoint an authenticating agent reasonably acceptable to the Company to authenticate the Securities. Unless limited by the
terms of such appointment, an authenticating agent may authenticate Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the
same rights as any Registrar, Paying Agent or agent for service of notices and demands. 
 SECTION 2.03.    Registrar
and Paying Agent. The Company shall maintain an office or agency where Securities may be presented for registration of transfer or for exchange (the “Registrar”) and an office or agency where Securities may be presented for
payment (the “Paying Agent”). The Registrar shall keep a register of the Securities and of their transfer and exchange. The Company may have one or more co-registrars and one or more
additional paying agents. The term “Paying Agent” includes any additional paying agent. 
 The Company shall enter into an
appropriate agency agreement with any Registrar, Paying Agent or co-registrar not a party to this Indenture, which shall incorporate the terms of the Trust Indenture Act. The agreement shall implement the
provisions of this Indenture that relate to such agent. The Company shall notify the 

  
 44 

 
Trustee of the name and address of any such agent. If the Company fails to maintain a Registrar or Paying Agent, the Trustee shall act as such and shall be entitled to appropriate compensation
therefor pursuant to Section 7.07. The Company or any Wholly Owned Subsidiary incorporated or organized within The United States of America may act as Paying Agent, Registrar, co-registrar or transfer
agent. 
 The Company initially appoints the Trustee as Registrar and Paying Agent in connection with the Securities. 

SECTION 2.04.    Paying Agent To Hold Money in Trust. Prior to each due date of the principal and interest on any
Security, the Company shall deposit with the Paying Agent a sum sufficient to pay such principal and interest when so becoming due. The Company shall require each Paying Agent (other than the Trustee) to agree in writing that the Paying Agent shall
hold in trust for the benefit of Securityholders or the Trustee all money held by the Paying Agent for the payment of principal of or interest on the Securities and shall notify the Trustee of any default by the Company in making any such payment.
If the Company or a Subsidiary acts as Paying Agent, it shall segregate the money held by it as Paying Agent and hold it as a separate trust fund. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee and to
account for any funds disbursed by the Paying Agent. Upon complying with this Section, the Paying Agent shall have no further liability for the money delivered to the Trustee. 

SECTION 2.05.    Securityholder Lists. The Trustee shall preserve in as current a form as is reasonably
practicable the most recent list available to it of the names and addresses of Securityholders. If the Trustee is not the Registrar, the Company shall furnish to the Trustee, in writing at least five Business Days before each interest payment date
and at such other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of Securityholders. 

SECTION 2.06.    Transfer and Exchange. The Securities shall be issued in registered form and shall be transferable
only upon the surrender of a Security for registration of transfer. When a Security is presented to the Registrar or a co-registrar with a request to register a transfer, the Registrar shall register the
transfer as requested if the requirements of this Indenture and Section 8-401(a) of the Uniform Commercial Code are met. When Securities are presented to the Registrar or a
co-registrar with a request to exchange them for an equal principal amount of Securities of other denominations, the Registrar shall make the exchange as requested if the same requirements are met. 

SECTION 2.07.    Replacement Securities. If a mutilated Security is surrendered to the Registrar or if the Holder
of a Security claims that the Security has been lost, destroyed or wrongfully taken, the Company shall issue and the Trustee shall authenticate a replacement Security if the requirements of Section 8-405
of the Uniform Commercial Code are met and the Holder satisfies any other reasonable requirements of the Trustee. If required by the Trustee or the Company, such Holder shall furnish an indemnity bond sufficient in the judgment of the Company and
the Trustee to protect the 

  
 45 

 
Company, the Trustee, the Paying Agent, the Registrar and any co-registrar from any loss which any of them may suffer if a Security is replaced. The
Company and the Trustee may charge the Holder for their expenses in replacing a Security. 
 Every replacement Security is an additional
Obligation of the Company. 
 SECTION 2.08.    Outstanding Securities. Securities outstanding at any time are all
Securities authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation and those described in this Section as not outstanding. A Security does not cease to be outstanding because the Company or an Affiliate
of the Company holds the Security, but, in certain circumstances, Section 11.06 provides that certain Securities shall be disregarded. 

If a Security is replaced pursuant to Section 2.07, it ceases to be outstanding unless the Trustee and the Company receive proof
satisfactory to them that the replaced Security is held by a protected purchaser (as defined in Section 8-303 of the Uniform Commercial Code). 

If the Paying Agent segregates and holds in trust, in accordance with this Indenture, on a redemption date or maturity date money sufficient
to pay all principal and interest payable on that date with respect to the Securities (or portions thereof) to be redeemed or maturing, as the case may be, then on and after that date such Securities (or portions thereof) cease to be outstanding and
interest on them ceases to accrue. 
 SECTION 2.09.    Temporary Securities. Until definitive Securities are
ready for delivery, the Company may prepare and the Trustee shall authenticate temporary Securities. Temporary Securities shall be substantially in the form of definitive Securities but may have variations that the Company considers appropriate for
temporary Securities. Without unreasonable delay, the Company shall prepare and the Trustee shall authenticate definitive Securities and deliver them in exchange for temporary Securities. 

SECTION 2.10.    Cancellation. The Company at any time may deliver Securities to the Trustee for cancellation. The
Registrar and the Paying Agent shall forward to the Trustee any Securities surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else shall cancel and destroy (subject to the record retention requirements of
the Exchange Act) all Securities surrendered for registration of transfer, exchange, payment or cancellation and deliver a certificate of such destruction to the Company unless the Company directs the Trustee to deliver canceled Securities to the
Company. The Company may not issue new Securities to replace Securities it has redeemed, paid or delivered to the Trustee for cancellation. 

SECTION 2.11.    Defaulted Interest. If the Company defaults in a payment of interest on the Securities, the
Company shall pay defaulted interest (plus interest on such defaulted interest to the extent lawful) in any lawful manner. The Company may pay the defaulted interest to the Persons who are Securityholders on a subsequent special record date. The
Company shall fix or cause to be fixed any such 

  
 46 

 
special record date and payment date to the reasonable satisfaction of the Trustee and shall promptly mail (or, when the Securities are represented by Global Securities, cause the Depository to
send electronically pursuant to its applicable procedures) to each Securityholder a notice that states the special record date, the payment date and the amount of defaulted interest to be paid. 

SECTION 2.12.    CUSIP Numbers, ISINs, etc. The Company in issuing the Securities may use “CUSIP”
numbers, ISINs and “Common Code” numbers (in each case if then generally in use) and, if so, the Trustee shall use “CUSIP” numbers, ISINs and “Common Code” numbers in notices of redemption as a convenience to Holders;
provided, however, that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any notice of redemption and that reliance may be placed only
on the other identification numbers printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company shall advise the Trustee in writing of any change in any “CUSIP”
numbers, ISINs or “Common Code” numbers applicable to the Securities. 
 SECTION 2.13.    Issuance of
Additional Securities. After the Issue Date, the Company shall be entitled, subject to its compliance with Section 4.03, to issue Additional Securities under this Indenture, which Securities shall have identical terms as the Initial
Securities issued on the Issue Date, other than with respect to the date of issuance and issue price. All the Securities issued under this Indenture shall be treated as a single class for all purposes of this Indenture including waivers, amendments,
redemptions and offers to purchase. 
 With respect to any Additional Securities, the Company shall set forth in a resolution of the Board
of Directors and an Officers’ Certificate and, if the Company so elects, a supplemental indenture, a copy of each which shall be delivered to the Trustee, the following information: 

(1)    the aggregate principal amount of such Additional Securities to be authenticated and delivered
pursuant to this Indenture and the provision of Section 4.03 that the Company is relying on to issue such Additional Securities; 

(2)    the issue price, the issue date and the CUSIP number of such Additional Securities; provided,
however, that a separate CUSIP number will be issued for any Additional Securities if the Securities and the Additional Securities are not fungible for U.S. federal income tax purposes; and 

(3)    whether such Additional Securities shall be Initial Securities or shall be issued in the form of
Exchange Securities as set forth in Exhibit A. 

  
 47 

 Article 3 

Redemption 
 SECTION
3.01.    Notices to Trustee. If the Company elects to redeem Securities pursuant to paragraph 5 of the Securities, it shall notify the Trustee in writing of the redemption date, the principal amount of Securities to
be redeemed and the paragraph of the Securities or this Indenture pursuant to which the redemption will occur. 
 The Company shall give
each notice to the Trustee provided for in this Section at least 60 days before the redemption date unless the Trustee consents to a shorter period. Such notice shall be accompanied by an Officers’ Certificate and an Opinion of Counsel
from the Company to the effect that such redemption will comply with the conditions herein. 
 SECTION
3.02.    Selection of Securities to Be Redeemed. If fewer than all the Securities are to be redeemed, the Trustee shall select the Securities to be redeemed on a pro rata basis to the extent practicable and in accordance
with the applicable rules and procedures of the Depository. The Trustee shall make the selection from outstanding Securities not previously called for redemption. Securities and portions of them the Trustee selects shall be in principal amounts of
$2,000 or any greater integral multiple of $1,000 thereof. Securities of $2,000 or less shall be redeemed in whole and not in part. Provisions of this Indenture that apply to Securities called for redemption also apply to portions of Securities
called for redemption. The Trustee shall notify the Company promptly of the Securities or portions of Securities to be redeemed. 
 SECTION
3.03.    Notice of Redemption. At least 30 days but not more than 60 days before a date for redemption of Securities, the Company shall cause a notice of redemption to be sent to each Holder of Securities to be
redeemed at such Holder’s registered address, except that redemption notices may be sent more than 60 days prior to the redemption date if the notice is issued in connection with a defeasance of the Securities or a satisfaction and discharge of
this Indenture. Any inadvertent defect in the notice of redemption, including an inadvertent failure to give notice, to any Holder selected for redemption shall not impair or affect the validity of the redemption of any other Security redeemed in
accordance with provisions of this Indenture. 
 The notice shall identify the Securities to be redeemed and shall state: 

(1)    the redemption date; 

(2)    the redemption price; 

(3)    the name and address of the Paying Agent; 

(4)    that Securities called for redemption must be surrendered to the Paying Agent to collect the
redemption price; 

  
 48 

 (5)    if fewer than all the outstanding Securities are to be
redeemed, the identification and principal amounts of the particular Securities to be redeemed; 

(6)    that, unless the Company defaults in making such redemption payment, interest on Securities (or
portion thereof) called for redemption ceases to accrue on and after the redemption date; 
 (7)    the
“CUSIP” number, ISIN or “Common Code” number, if any, printed on the Securities being redeemed; 

(8)    that no representation is made as to the correctness or accuracy of the “CUSIP” number,
ISIN, or “Common Code” number, if any, listed in such notice or printed on the Securities; and 

(9)    if the notice of redemption is subject to one or more conditions precedent as provided in
Section 3.04, a statement to that effect and a description of such condition or conditions. 
 At the Company’s request, the
Trustee shall give the notice of redemption in the Company’s name and at the Company’s expense. In such event, the Company shall provide the Trustee with the information required by this Section. 

SECTION 3.04.    Effect of Notice of Redemption. Once notice of redemption is sent, Securities called for
redemption become due and payable on the redemption date and at the redemption price stated in the notice; provided that notice of any redemption in connection with any Qualifying Equity Offering or other securities offering or any other
financing, or in connection with a transaction (or a series of related transactions) that constitute a Change of Control, may, at the Company’s discretion, be given prior to the completion thereof and be subject to one or more conditions
precedent, including completion of the related Qualifying Equity Offering, securities offering, financing or Change of Control. If a redemption is subject to satisfaction of one or more conditions precedent, the redemption date may be delayed up to
10 Business Days; provided that if such conditions precedent are not satisfied within 10 Business Days of the proposed redemption date, such redemption shall not occur and the notice thereof shall be rescinded. Upon surrender to the Paying Agent,
such Securities shall be paid at the redemption price stated in the notice, plus accrued interest to the redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on the related interest payment
date), and such Securities shall be canceled by the Trustee. 
 SECTION 3.05.    Deposit of Redemption Price.
Prior to the redemption date, the Company shall deposit with the Paying Agent (or, if the Company or a Subsidiary is the Paying Agent, shall segregate and hold in trust) money sufficient to pay the redemption price of and accrued interest on all
Securities to be redeemed on that date other than Securities or portions of Securities called for redemption which have been delivered by the Company to the Trustee for cancellation. 

  
 49 

 SECTION 3.06.    Securities Redeemed in Part. Upon surrender of a
Security that is redeemed in part, the Company shall execute and the Trustee shall authenticate for the Holder (at the Company’s expense) a new Security equal in principal amount to the unredeemed portion of the Security surrendered. 

Article 4 
 Covenants 

SECTION 4.01.    Payment of Securities. The Company shall promptly pay the principal of and interest on the
Securities on the dates and in the manner provided in the Securities and in this Indenture. Principal and interest shall be considered paid on the date due if on such date the Trustee or the Paying Agent holds in accordance with this Indenture money
sufficient to pay all principal and interest then due. 
 The Company shall pay interest on overdue principal at the rate specified therefor
in the Securities, and it shall pay interest on overdue installments of interest at the same rate to the extent lawful. 
 SECTION
4.02.    SEC Reports. Whether or not the Company is subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, the Company shall file with or furnish to the SEC, as applicable, subject to the
next sentence, and provide the Trustee and Securityholders with, such annual and other reports as are specified in Sections 13 and 15(d) of the Exchange Act and applicable to a U.S. corporation subject to such Sections (but without exhibits in
the case of reports provided to Holders), such reports to be so filed and provided at the times specified for the filings of such reports under such Sections (after giving effect to all applicable extensions and cure periods) and containing all the
information, audit reports and exhibits required for such reports. 
 If, at any time, the Company is not subject to the periodic reporting
requirements of the Exchange Act for any reason, the Company shall nevertheless continue filing the reports specified in the preceding sentence with the SEC within such time periods unless the SEC will not accept such a filing. The Company agrees
that it will not take any action for the purpose of causing the SEC not to accept such filings. If, notwithstanding the foregoing, the SEC will not accept such filings for any reason, the Company will post the reports specified in the preceding
sentence on its website within the time periods (after giving effect to all applicable extensions and cure periods) that would apply if the Company were required to file those reports with the SEC. 

Notwithstanding anything to the contrary contained in the immediately preceding paragraph, if the Company is not required to file reports with
the SEC pursuant to Section 13 or 15(d) of the Exchange Act, (i.e., is a “voluntary filer”), the reports described in the preceding paragraph shall not be required to contain certain disclosures relating to the Company’s controls
and procedures, corporate governance, code of ethics, director independence, market for the Company’s equity securities and executive compensation. 

  
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 At any time that any of the Company’s Subsidiaries are Unrestricted Subsidiaries, then the
quarterly and annual financial information required by the preceding paragraph will include a reasonably detailed presentation, either on the face of the financial statements or in the footnotes thereto, and in “Management’s Discussion and
Analysis of Financial Condition and Results of Operations,” of the financial condition and results of operations of the Company and its Restricted Subsidiaries separate from the financial condition and results of operations of the Unrestricted
Subsidiaries of the Company. 
 In addition, the Company shall furnish to the Holders of the Securities and to prospective investors,
upon the requests of such Holders, any information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act so long as the Securities are not freely transferable under the Securities Act. 

The Company also shall comply with the other provisions of Trust Indenture Act §314(a). 

The Company shall be deemed to have furnished such reports to the Trustee and the Holders of the Securities if it has filed such reports with
the SEC using the EDGAR (or any successor) filing system and such reports are publicly available through such filing system. 
 In the event
that any direct or indirect parent company of the Company becomes a guarantor of the Securities, the Company may satisfy its obligations under this covenant by furnishing financial information relating to such parent; provided,
however, that (a) such financial statements are accompanied by consolidating financial information for such parent, the Company, the Subsidiary Guarantors and the Subsidiaries of the Company that are not Subsidiary Guarantors in the
manner prescribed by the SEC and (b) such parent is not engaged in any business in any material respect other than incidental to its ownership, directly or indirectly, of the Capital Stock of the Company. 

So long as any Securities are outstanding, the Company shall also: 

(1)     as promptly as reasonably practicable after filing with the SEC or posting the annual and quarterly
reports required by the first paragraph of this Section 4.02, hold a conference call to discuss such reports and the results of operations for the relevant reporting period; and 

(2)     issue a press release to the appropriate nationally recognized wire services prior to the date of
the conference call required to be held in accordance with clause (1) of this paragraph, announcing the time and date of such conference call and including all information necessary to access the call. 

This covenant shall be deemed not to impose any duty on the Company under the Sarbanes-Oxley Act of 2002 and the related SEC rules that would
not otherwise be applicable. 

  
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 Delivery of such reports, information and documents to the Trustee is for informational purposes
only, and the Trustee’s receipt of such reports, information and documents shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance
with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on an Officers’ Certificate). 
 SECTION
4.03.    Limitation on Indebtedness. (a) The Company shall not, and shall not permit any Restricted Subsidiary to, Incur, directly or indirectly, any Indebtedness; provided, however, that the Company and
the Subsidiary Guarantors shall be entitled to Incur Indebtedness if, on the date of such Incurrence and after giving effect thereto on a pro forma basis, the Consolidated Coverage Ratio exceeds 2.00 to 1.00. 

(b)    Notwithstanding the foregoing paragraph (a), the Company and the Restricted Subsidiaries shall be entitled to
Incur any or all of the following Indebtedness: 
 (1)    Indebtedness Incurred by the Company and the
Subsidiary Guarantors pursuant to Credit Agreements; provided, however, that, after giving effect to any such Incurrence, the aggregate principal amount of all Indebtedness Incurred under this clause (1) and then outstanding does
not exceed the greater of (i) $1,100.0 million and (ii) 35.0% of Adjusted Consolidated Net Tangible Assets determined as of the date of such Incurrence; 

(2)    Indebtedness owed to and held by the Company or a Restricted Subsidiary; provided,
however, that (A) any subsequent issuance or transfer of any Capital Stock which results in any such Restricted Subsidiary ceasing to be a Restricted Subsidiary or any subsequent transfer of such Indebtedness (other than to the Company
or a Restricted Subsidiary) shall be deemed, in each case, to constitute the Incurrence of such Indebtedness by the obligor thereon, (B) if the Company is the obligor on such Indebtedness, unless such Indebtedness is owing to a Subsidiary
Guarantor, such Indebtedness is expressly subordinated to the prior payment in full in cash of all obligations with respect to the Securities and (C) if a Subsidiary Guarantor is the obligor on such Indebtedness, unless such Indebtedness is
owing to the Company or another Subsidiary Guarantor, such Indebtedness is expressly subordinated to the prior payment in full in cash of all obligations of such Subsidiary Guarantor with respect to its Subsidiary Guarantee; 

(3)    the Securities (including the Exchange Securities issued in exchange therefor but excluding any
Additional Securities) and all Subsidiary Guarantees thereof; 
 (4)    Indebtedness outstanding on the
Issue Date (other than Indebtedness described in clause (1), (2) or (3) of this Section 4.03(b)); 

(5)    Indebtedness of a Restricted Subsidiary outstanding on or prior to the date on which it became a
Restricted Subsidiary or secured by a Lien on an 

  
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asset acquired by the Company or by a Restricted Subsidiary (other than Indebtedness Incurred in connection with, or to provide all or any portion of the funds or credit support utilized to
consummate, the transaction or series of related transactions pursuant to which such entity became a Restricted Subsidiary or such asset was so acquired); provided, however, that on the date such entity became a Restricted Subsidiary
or such asset was so acquired and after giving pro forma effect thereto, the Company would have been entitled to Incur at least $1.00 of additional Indebtedness pursuant to Section 4.03(a); 

(6)    Refinancing Indebtedness in respect of Indebtedness Incurred pursuant to Section 4.03(a) or
pursuant to clause (3), (4) or (5) of this Section 4.03(b) or this clause (6); provided, however, that to the extent such Refinancing Indebtedness directly or indirectly Refinances Indebtedness of a Restricted Subsidiary
Incurred pursuant to clause (5), such Refinancing Indebtedness shall be Incurred only by such Restricted Subsidiary or, so long as such Restricted Subsidiary has no liability with respect to such Refinancing Indebtedness, by the Company or by a
Subsidiary Guarantor; 
 (7)    Hedging Obligations consisting of Interest Rate Agreements related to
Indebtedness outstanding on the Issue Date or permitted to be Incurred by the Company and its Restricted Subsidiaries pursuant to this Indenture; 

(8)    Hedging Obligations consisting of Oil and Natural Gas Hedging Contracts and Currency Agreements, in
each case entered into in the ordinary course of business for the purpose of limiting risks that arise in the ordinary course of business of the Company and its Subsidiaries; 

(9)    obligations in respect of workers’ compensation claims, health, disability or other benefits,
unemployment or other insurance or self-insurance obligations and other social security or similar legislation, old age pension or public liability obligations, statutory obligations, government contracts, trade contracts, regulatory obligations,
leases, utility contracts and similar obligations, plugging and abandonment, appeal, performance, tender, bid and surety bonds, completion guarantees and other reimbursement obligations provided by, or for the account of, the Company or any
Restricted Subsidiary in the ordinary course of business (in each case other than for an obligation for money borrowed), including any Guarantees, contingent reimbursement obligations or other contingent obligations with respect to letters of credit
or bank guarantees functioning as or supporting or issued to assure payment or performance of any of the foregoing bonds or obligations; 

(10)    Indebtedness arising from the honoring by a bank or other financial institution of a check, draft
or similar instrument drawn against insufficient funds in the ordinary course of business; 

(11)    Indebtedness consisting of any Guarantee by the Company or a Subsidiary Guarantor of Indebtedness
outstanding on the Issue Date or permitted 

  
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by this Indenture to be incurred by the Company or a Subsidiary Guarantor; provided, however, that if the Indebtedness being guaranteed is subordinated to the Securities or a
Subsidiary Guarantee, then the Guarantee thereof shall be subordinated to at least the same extent as the Indebtedness being Guaranteed; 

(12)    Purchase Money Indebtedness of the Company or a Restricted Subsidiary Incurred to finance the
purchase, lease or improvement of property (real or personal), and any Refinancing Indebtedness Incurred to Refinance such Indebtedness, in an aggregate principal amount which, when added together with the amount of Indebtedness Incurred pursuant to
this clause (12) and then outstanding, does not exceed the greater of (i) $100.0 million and (ii) 4.0% of Adjusted Consolidated Net Tangible Assets determined as of the date of such Incurrence; 

(13)    Indebtedness in respect of the financing of insurance premiums with the providers of such insurance
or their Affiliates in the ordinary course of business; 
 (14)    Indebtedness arising from any
agreement providing for indemnities, contribution, Guarantees, purchase price adjustments, holdbacks, earn-outs, deferred compensation, contingency payment obligations based on the performance of the acquired or disposed assets or similar
obligations (in each case, other than Guarantees of Indebtedness) incurred or assumed by any Person in connection with the acquisition or disposition of assets; 

(15)     in-kind obligations relating to oil and natural gas
balancing obligations arising in the ordinary course of business; and 
 (16)    Indebtedness of the
Company or any Restricted Subsidiary in an aggregate principal amount which, when taken together with all other Indebtedness outstanding on the date of such Incurrence under this clause (16), does not exceed the greater of (i)
$100.0 million and (ii) 4.0% of Adjusted Consolidated Net Tangible Assets determined as of the date of such Incurrence. 

(c)    Notwithstanding the foregoing, neither the Company nor any Subsidiary Guarantor shall Incur any Indebtedness
pursuant to Section 4.03(b) if the proceeds thereof are used, directly or indirectly, to Refinance any Subordinated Obligations of the Company or any Subsidiary Guarantor unless such Indebtedness shall be subordinated to the Securities
or the applicable Subsidiary Guarantee to at least the same extent as such Subordinated Obligations. 

(d)    For purposes of determining compliance with this Section 4.03, in the event that an item of Indebtedness (or
any portion thereof) meets the criteria of more than one of the types of Indebtedness described in this Section 4.03, the Company, in its sole discretion, shall classify such item of Indebtedness (or any portion thereof) at the time of
Incurrence and shall only be required to include the amount and type of such Indebtedness in one of the above clauses and the Company shall be entitled to divide and classify and reclassify from time to time an item of Indebtedness in more than one
of the types of Indebtedness described in this Section 4.03. 

  
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 (e)    For purposes of determining compliance with any U.S.
dollar-denominated restriction on the Incurrence of Indebtedness, the making of Investments or any other covenant, limitation or ratio in this Indenture, the U.S. dollar-equivalent of the principal amount of Indebtedness, Investment or other amount
denominated in a foreign currency shall be utilized, calculated based on the relevant currency exchange rate in effect on the date such Indebtedness was Incurred, such Investment was made, or such other amount was expended or incurred.
Notwithstanding any other provision of this Indenture, the maximum amount of Indebtedness that the Company or any Restricted Subsidiary may Incur pursuant to this Indenture shall be deemed not to be exceeded and all other covenants, limitations and
ratios in this Indenture be deemed not to be breached or exceeded, solely as a result of fluctuations in exchange rates or currency values. 

SECTION 4.04.    Limitation on Restricted Payments. (a) The Company shall not, and shall not permit any
Restricted Subsidiary to, directly or indirectly, make a Restricted Payment if at the time the Company or such Restricted Subsidiary makes such Restricted Payment: 

(1)    a Default shall have occurred and be continuing (or would result therefrom); 

(2)    the Company is not entitled to Incur an additional $1.00 of Indebtedness pursuant to
Section 4.03(a); or 
 (3)    the aggregate amount of such Restricted Payment and all other
Restricted Payments since October 17, 2012 (all payment calculations being made as if the provisions of this Section 4.04 had been in effect as of October 17, 2012 and at all times thereafter) would exceed the sum of (without
duplication): 
 (A)    50% of the Consolidated Net Income accrued during the period (treated as one
accounting period) from October 1, 2012 to the end of the most recent fiscal quarter ending at least 45 days prior to the date of such Restricted Payment (or, in case such Consolidated Net Income shall be a deficit, minus 100% of such
deficit); plus 
 (B)    100% of the aggregate Net Cash Proceeds or the Fair Market Value of
property other than cash (including Capital Stock of Persons engaged in the Oil and Gas Business or assets used in the Oil and Gas Business) received by the Company from the issuance or sale of its Capital Stock (other than Disqualified Stock)
subsequent to October 17, 2012 (other than an issuance or sale to a Subsidiary of the Company and other than an issuance or sale to an employee stock ownership plan or to a trust established by the Company or any of its Subsidiaries for the
benefit of their employees) and 100% of any capital contribution received by the Company from its shareholders subsequent to October 17, 2012; plus 

  
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 (C)    the amount by which Indebtedness of the Company or a
Restricted Subsidiary is reduced on the Company’s consolidated balance sheet upon the conversion or exchange (other than by a Subsidiary of the Company) subsequent to October 17, 2012 of any Indebtedness of the Company or a Restricted
Subsidiary convertible or exchangeable for Capital Stock (other than Disqualified Stock) of the Company (less the amount of any cash, or the Fair Market Value of any other property, distributed by the Company upon such conversion or exchange);
provided, however, that the foregoing amount shall not exceed the Net Cash Proceeds received by the Company or any Restricted Subsidiary from the sale of such Indebtedness (excluding any Net Cash Proceeds from sales to a Subsidiary of
the Company or to an employee stock ownership plan or a trust established by the Company or any of its Subsidiaries for the benefit of their employees); plus 

(D)    an amount equal to the sum of (x) the net reduction subsequent to October 17, 2012 in the
Investments (other than Permitted Investments) made by the Company or any Restricted Subsidiary in any Person resulting from repurchases, repayments, releases or redemptions of such Investments by such Person, proceeds realized on the sale of such
Investment and proceeds representing the return of capital (excluding dividends and distributions), in each case received by the Company or any Restricted Subsidiary, and (y) if such Person is an Unrestricted Subsidiary, the portion
(proportionate to the Company’s equity interest in such Subsidiary) of the Fair Market Value of the net assets of such Unrestricted Subsidiary at the time subsequent to October 17, 2012 such Unrestricted Subsidiary is designated as, merged
or consolidated into, or transfers or otherwise disposes of all or substantially all of its properties or assets to or is liquidated into, a Restricted Subsidiary; provided, however, that the foregoing sum shall not exceed, in the case of any such
Person, the amount of Investments (excluding Permitted Investments) previously made (and treated as a Restricted Payment) subsequent to October 17, 2012 by the Company or any Restricted Subsidiary in such Person. 

(b)    The provisions of Section 4.04(a) shall not prohibit: 

(1)    any Restricted Payment made out of the Net Cash Proceeds of the substantially concurrent issuance or
sale of, or made by conversion into or exchange for, Capital Stock of the Company (other than Disqualified Stock and other than Capital Stock issued or sold to a Subsidiary of the Company or an employee stock ownership plan or to a trust established
by the Company or any of its Subsidiaries for the benefit of their employees) or a substantially concurrent cash capital contribution received by the Company from one or more of its shareholders; provided, however, that (A) such
Restricted Payment shall be excluded in the calculation of the amount of Restricted Payments and (B) the Net Cash Proceeds from such sale or such cash capital contribution (to the extent so used for such Restricted Payment) shall be excluded
from the calculation of amounts under Section 4.04(a)(3)(B); 

  
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 (2)    any purchase, repurchase, redemption, defeasance or
other acquisition or retirement for value of Subordinated Obligations of the Company or of any Subsidiary Guarantor made by exchange for, or out of the proceeds of the substantially concurrent Incurrence of, Indebtedness of such Person which
is permitted to be Incurred pursuant to Section 4.03; provided, however, that such purchase, repurchase, redemption, defeasance or other acquisition or retirement for value shall be excluded in the calculation of the amount of
Restricted Payments; 
 (3)    any purchase, repurchase, redemption, defeasance or other acquisition or
retirement for value of Disqualified Stock of the Company or a Subsidiary Guarantor made by conversion into or exchange for, or out of the proceeds of the substantially concurrent issuance or sale (other than to a Subsidiary of the Company or an
employee stock ownership plan or to a trust established by the Company or any of its Subsidiaries for the benefit of their employees) of, Disqualified Stock of the Company which is permitted to be issued pursuant to Section 4.03;
provided, however, that such purchase, repurchase, redemption, defeasance or other acquisition or retirement for value shall be excluded in the calculation of the amount of Restricted Payments; 

(4)    dividends or distributions paid or consummations of redemptions within 60 days after the date of
declaration thereof if at such date of declaration such dividend, distribution or redemption would have complied with this covenant; provided, however, that such dividend, distribution or redemption shall be included in the calculation of the amount
of Restricted Payments; 
 (5)    the purchase, repurchase, redemption or other acquisition or retirement
of shares of Capital Stock of the Company or any of its Subsidiaries from employees, former employees, directors or former directors of the Company or any of its Subsidiaries (or permitted transferees of such employees, former employees, directors
or former directors), pursuant to the terms of the agreements (including employment agreements) or plans (or amendments thereto) approved by the Board of Directors under which such individuals purchase or sell or are granted the option to purchase
or sell, shares of such Capital Stock; provided, however, that the aggregate amount of such Restricted Payments (excluding amounts representing cancelation of Indebtedness or funded by “key man” life insurance policies) shall
not exceed $15.0 million in any calendar year, with unused amounts in any calendar year being permitted to be carried forward to succeeding calendar years subject to a maximum of $30.0 million in any calendar year; provided further,
however, that such Restricted Payments shall be excluded in the calculation of the amount of Restricted Payments; 

(6)    declarations and payments of dividends on Disqualified Stock or Preferred Stock of a Restricted
Subsidiary issued pursuant to Section 4.03; provided, however, that such dividends shall be excluded in the calculation of the amount of Restricted Payments; 

  
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 (7)    repurchases, redemptions and other acquisitions and
retirements of Capital Stock deemed to occur upon exercise, exchange or vesting of any equity compensation (including, without limitation, stock options, restricted stock, phantom stock, warrants, incentives, rights to acquire Capital Stock or other
derivative securities) if such Capital Stock represents a portion of the exercise or other price or cost thereof, and repurchases, redemptions and other acquisitions and retirements of Capital Stock made in lieu of withholding for, or to satisfy
taxes in connection with any exercise, exchange or vesting of stock options, restricted stock, phantom stock, warrants, incentives, rights to acquire Capital Stock or other derivative securities; provided, however, that such Restricted
Payments shall be excluded in the calculation of the amount of Restricted Payments; 
 (8)    cash
payments in lieu of the issuance of fractional shares in connection with any transaction otherwise permitted by this Section 4.04; provided, however, that any such cash payment shall not be for the purpose of evading the
limitation of this Section 4.04 (as determined in good faith by the Board of Directors); provided further, however, that such payments shall be excluded in the calculation of the amount of Restricted Payments; 

(9)    in the event of a Change of Control or an Asset Disposition, and if no Default shall have occurred
and be continuing, and within 60 days after the completion of the offer to repurchase the Securities under Section 4.06 or 4.09 (including the purchase of all Securities tendered), the payment, purchase, repurchase, redemption, defeasance or
other acquisition or retirement of Subordinated Obligations or Disqualified Stock of the Company or any Subsidiary Guarantor, in each case, at a purchase price not greater than 101% of the principal amount of such Subordinated Obligations or
Disqualified Stock, plus any accrued and unpaid interest or dividends thereon; provided, however, that prior to such payment, purchase, repurchase, redemption, defeasance or other acquisition or retirement, the Company (or a third
party to the extent permitted by this Indenture) has made a Change of Control Offer or an Asset Disposition Offer with respect to the Securities as a result of such Change of Control or Asset Disposition and has repurchased all Securities validly
tendered and not withdrawn in connection with such Change of Control Offer or Asset Disposition Offer; provided further, however, that such payments, purchases, repurchases, redemptions, defeasances or other acquisitions or
retirements shall be included in the calculation of the amount of Restricted Payments; 

(10)    payments of intercompany subordinated Indebtedness, the Incurrence of which was permitted under
Section 4.03(b)(2); provided, however, that such payments shall be excluded in the calculation of the amount of Restricted Payments; 

  
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 (11)    payments to dissenting stockholders of the Company
not to exceed $5.0 million in the aggregate (A) pursuant to applicable law or (B) in connection with the settlement or other satisfaction of legal claims made pursuant to or in connection with a consolidation, merger or transfer of
assets in connection with a transaction that is not prohibited by this Indenture; provided, however, that such payments shall be included in the calculation of the amount of Restricted Payments; 

(12)    the declaration and payment of dividends or other distributions of (A) shares of Capital Stock
of, or Indebtedness owed to the Company or a Restricted Subsidiary by, Unrestricted Subsidiaries, or (B) assets received by the Company or a Restricted Subsidiary from Unrestricted Subsidiaries as dividends or other distributions by such
Unrestricted Subsidiaries; provided, however, that such declaration and payment of dividends or other distributions shall be excluded in the calculation of the amount of Restricted Payments; provided further,
however, that this clause (12) shall not apply to dividends or distributions of Capital Stock of, Indebtedness owed by, or assets received from, Grizzly Holdings; or 

(13)    other Restricted Payments in an aggregate amount which, when taken together with all other
Restricted Payments made pursuant to this clause (13) at any one time outstanding, does not exceed $25.0 million; provided, however, that such amounts shall be included in the calculation of the amount of
Restricted Payments. 
 (c)    If any Person in which an Investment is made, which Investment constitutes a Restricted
Payment or a Permitted Investment under clause (22) of such definition when made, thereafter becomes a Restricted Subsidiary, all such Investments previously made in such Person shall no longer be counted as Restricted Payments or Permitted
Investments under such clause for purposes of calculating the aggregate amount of Restricted Payments made or Permitted Investments made pursuant to such clause. 

SECTION 4.05.    Limitation on Restrictions on Distributions from Restricted Subsidiaries. The Company shall not,
and shall not permit any Restricted Subsidiary to, create or otherwise cause or permit to exist or become effective any consensual encumbrance or restriction on the ability of any Restricted Subsidiary to (a) pay dividends or make any other
distributions on its Capital Stock to the Company or a Restricted Subsidiary or pay any Indebtedness owed to the Company, (b) make any loans or advances to the Company or (c) transfer any of its property or assets to the Company, except:

 (1)    with respect to clauses (a), (b) and (c), 

(A)    any encumbrance or restriction pursuant to an agreement in effect at or entered into on the Issue
Date; 

  
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 (B)    any encumbrance or restriction with respect to a
Restricted Subsidiary or any property or assets thereof pursuant to an agreement of such Restricted Subsidiary (including the Capital Stock thereof) outstanding on the date on which such Restricted Subsidiary was acquired by the Company or otherwise
became a Restricted Subsidiary (other than agreements relating to Indebtedness Incurred as consideration in, or to provide all or any portion of the funds or credit support utilized to consummate, the transaction or series of related transactions
pursuant to which such Restricted Subsidiary was acquired by the Company or otherwise became a Restricted Subsidiary); 

(C)    any encumbrance or restriction pursuant to an agreement effecting a Refinancing of Indebtedness
Incurred pursuant to an agreement referred to in Section 4.05(1)(A) or (B) or this clause (C) or contained in any amendment to or renewal or replacement of an agreement referred to in Section 4.05(1)(A) or (B) or this
clause (C); provided, however, that the encumbrances and restrictions with respect to such Restricted Subsidiary contained in any such Refinancing agreement or amendment, renewal or replacement are not materially less favorable,
taken as a whole, to the Securityholders than the encumbrances and restrictions with respect to such Restricted Subsidiary contained in such predecessor agreement; 

(D)    any encumbrance or restriction with respect to a Restricted Subsidiary imposed pursuant to an
agreement entered into for the sale or disposition of all or substantially all the Capital Stock or assets of such Restricted Subsidiary pending the closing of such sale or disposition; 

(E)    any encumbrance or restriction on the disposition or distribution of assets or property, including
cash or other deposits, under agreements entered into in the ordinary course of the Oil and Gas Business of the types described in clause (2) of the definition of Permitted Business Investments; 

(F)    any encumbrance or restriction contained in the terms of any agreement or instrument governing any
Indebtedness for money borrowed or Hedging Obligation if (x) either (i) the encumbrance or restriction applies only in the event of and during the continuance of a payment default or a default with respect to a financial covenant contained in
such agreement or instrument or (ii) the Company determines at the time any such Indebtedness or Hedging Obligation is Incurred (and at the time of any modification of the terms of any such encumbrance or restriction) that any such encumbrance
or restriction will not materially affect the Company’s ability to make principal or interest payments on the Securities and (y) the encumbrance or restriction is not materially more disadvantageous to the Holders than is customary in
comparable financings or agreements (as determined by the Company in good faith); 

  
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 (G)    customary supermajority voting provisions and other
customary provisions with respect to the disposition or distribution of assets, each contained in corporate charters, bylaws, stockholders’ agreements, limited liability company agreements, partnership agreements, joint venture agreements and
other similar agreements entered into in the ordinary course of business of the Company and its Restricted Subsidiaries; 

(H)    any restrictions on cash, cash equivalents or other deposits or net worth requirements imposed by
customers under contracts entered into in the ordinary course of business; 
 (I)    provisions contained
in any license, permit or other accreditation with a regulatory authority or directly or indirectly required by any applicable laws, statutes, rules, regulations, orders, requirements, guidelines, interpretations, directives and requests (whether or
not having the force of law) from and of, and plans, memoranda and agreements with, any regulatory authority; 

(J)    provisions in agreements or instruments that prohibit the payment or making of dividends or other
distributions other than on a pro rata basis; 
 (K)    any encumbrance or restriction
contained in the terms of Preferred Stock of a Restricted Subsidiary that does not expressly restrict the ability of a Restricted Subsidiary to pay dividends or make any other distributions on its Capital Stock (other than requirements to pay
dividends or liquidation preferences on such Preferred Stock prior to paying any dividends or making any other distributions on such other Capital Stock); and 

(L)    customary subordination provisions governing Indebtedness permitted pursuant to Section 4.03;
and 
 (2)    with respect to clause (c) only, 

(A)    any encumbrance or restriction consisting of customary nonassignment provisions in Hydrocarbon and
Mineral Properties purchase and sale or exchange agreements or similar operational agreements, agreements of the types described in the defined term “Permitted Business Investments” and leases governing leasehold interests and licenses to
the extent such provisions restrict the transfer of the lease or license or the property leased or licensed thereunder; 

(B)    any encumbrance or restriction with respect to a Restricted Subsidiary imposed pursuant to an
agreement entered into for the sale or disposition of any Capital Stock or assets of such Restricted Subsidiary pending the closing of such sale or disposition to the extent such encumbrance or restriction restricts the transfer of the property
subject to such agreement; 

  
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 (C)    any encumbrance or restriction contained in security
agreements or mortgages securing Indebtedness or other obligations of a Restricted Subsidiary and related documents to the extent such encumbrance or restriction restricts the transfer of the property subject to such security agreements or
mortgages; 
 (D)    any encumbrance or restriction contained in any agreement or instrument assumed by
the Company or any of its Restricted Subsidiaries or for which any of them becomes liable as in effect at the time of such transaction (except to the extent such agreement or instrument was entered into in connection with or in contemplation of such
transaction), which encumbrance or restriction is not applicable to any assets other than assets acquired in connection with such transaction and all improvements, additions and accessions thereto and products and proceeds thereof; 

(E)    encumbrances and restrictions contained in contracts entered into in the ordinary course of
business, not relating to any Indebtedness, and that do not, individually or in the aggregate, detract from the value of, or the ability of the Company or any Restricted Subsidiary to realize the value of, property or assets of the Company or any
Restricted Subsidiary in any manner material to the Company and its Restricted Subsidiaries taken as a whole; 

(F)    any encumbrance or restriction contained in agreements governing or relating to reserves that are
the subject of Production Payments and Reserve Sales; 
 (G)    customary restrictions set forth in
“lock up” agreements entered into in connection with securities offerings; and 
 (H)    any
encumbrance or restriction with respect to the Capital Stock of Grizzly Holdings. 
 In each case set forth above, notwithstanding any
stated limitation on the assets or property that may be subject to such encumbrance or restriction, an encumbrance or restriction on a specified asset or property or group or type of assets or property may also apply to all improvements, repairs,
additions, attachments and accessions thereto, assets and property affixed or appurtenant thereto, construction thereon, parts, replacements and substitutions therefor, and all products and proceeds thereof, including dividends, distributions,
interest and increases in respect thereof. 
 SECTION 4.06.    Limitation on Sales of Assets and Subsidiary
Stock. (a) The Company shall not, and shall not permit any Restricted Subsidiary or, so long as 

  
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it is an Unrestricted Subsidiary, Grizzly Holdings, to, directly or indirectly, consummate any Asset Disposition unless: 

(1)    the Company or such Subsidiary receives consideration at the time of such Asset Disposition at least
equal to the Fair Market Value, including as to the value of all non-cash consideration (as determined in good faith by the Board of Directors, an Officer or an officer of such Subsidiary with responsibility
for such transaction, such determination to be made as of the date of contractually agreeing to such Asset Disposition, which determination shall be conclusive evidence of compliance with this provision) of the shares or assets subject to such Asset
Disposition; 
 (2)    at least 75% of the consideration thereof received by the Company or such
Subsidiary is in the form of cash or cash equivalents, Hydrocarbon and Mineral Properties, capital assets to be used by the Company or such Subsidiary (or any Restricted Subsidiary) in the Oil and Gas Business, Capital Stock of a Person primarily
engaged in a Related Business and, in the case of an Asset Disposition by, or of the Capital Stock of, Grizzly Holdings, other securities or Indebtedness that are by their terms payable within two years of the date of such Asset Disposition in cash
or other assets described in this clause (a)(2); and 
 (3)    an amount equal to 100% of the Net
Available Cash from such Asset Disposition is applied by the Company (or such Subsidiary, as the case may be) 

(A)    to the extent the Company so elects (or is required by the terms of any Indebtedness), to prepay,
repay, purchase, repurchase, redeem, defease or otherwise acquire or retire for value Senior Indebtedness of the Company or any Subsidiary Guarantor or Indebtedness or Preferred Stock of such Subsidiary or of any Restricted Subsidiary that is not a
Subsidiary Guarantor (in each case other than Indebtedness owed to the Company or an Affiliate of the Company) within one year (or in the case of an Asset Disposition by, or of the Capital Stock of, Grizzly Holdings, two years) from the later of the
date of such Asset Disposition or the receipt of such Net Available Cash; 
 (B)    to the extent the
Company so elects, to acquire Additional Assets or make capital expenditures in the Oil and Gas Business within one year (or in the case of an Asset Disposition by, or of the Capital Stock of, Grizzly Holdings, two years) from the later of the date
of such Asset Disposition or the receipt of such Net Available Cash; and 
 (C)    to the extent of the
balance of the amount of Net Available Cash after application in accordance with clauses (A) and (B), or, if the Company so elects, at any earlier time, to make an offer to the holders of the Securities (and to holders of other Senior
Indebtedness of the Company or a Subsidiary Guarantor designated by the Company) to purchase Securities (and such other Senior Indebtedness) pursuant to and subject to the conditions contained in this Indenture; 

  
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 provided, however, that in connection with any prepayment, repayment, purchase,
repurchase, redemption, defeasance or other acquisition or retirement for value of Indebtedness pursuant to clause (A) or (C) above (other than Indebtedness outstanding pursuant to Section 4.03(b)(1)), the Company or such Subsidiary
shall permanently retire such Indebtedness and shall cause the related loan commitment (if any) to be permanently reduced in an amount equal to the principal amount so prepaid, repaid, purchased or otherwise retired. 

Notwithstanding the foregoing provisions of this Section 4.06, the Company and such Subsidiaries shall not be required to apply any
amount of Net Available Cash in accordance with this Section 4.06 except to the extent that the aggregate amount of Net Available Cash from all Asset Dispositions which is not applied in accordance with this Section 4.06 exceeds
$25.0 million. 
 Pending application of any amount of Net Available Cash pursuant to this Section 4.06, such amount may be
invested in any manner not prohibited by this Indenture, including to temporarily reduce revolving credit indebtedness. 
 For the purposes
of Section 4.06(a)(2), the following are deemed to be cash or cash equivalents: (i) the release of, pursuant to a novation or other agreement, or the discharge of, the Company or such Subsidiary from all liability on Indebtedness in
connection with such Asset Disposition; (ii) with respect to any Asset Disposition of Hydrocarbon and Mineral Properties, any agreement by the transferee (or an Affiliate thereof) to pay all or a portion of the Company’s or a Restricted
Subsidiary’s share of any costs or expenses related to the exploration, development, completion or production of Hydrocarbon and Mineral Properties and activities related thereto; and (iii) any securities, notes or other obligations
received by the Company or any Restricted Subsidiary from such transferee that are, within 90 days after the Asset Disposition, converted by the Company or such Restricted Subsidiary into cash, to the extent of the cash received in that conversion.

 The requirement of Section 4.06(a)(3)(B) shall be deemed to be satisfied if an agreement (including a lease, whether a capital lease
or an operating lease) committing to make the acquisitions or expenditures referred to therein is entered into by the Company or such Subsidiary (or any Restricted Subsidiary) within the time period specified in such clause and the amount of such
Net Available Cash is subsequently applied in accordance with such agreement within six months following such agreement. 
 Notwithstanding
the foregoing, in the event that a Subsidiary that is not a Wholly Owned Subsidiary effects an Asset Disposition and dividends or distributes to all of its stockholders (including the Company or a Restricted Subsidiary) on a pro rata basis
any Net Available Cash from such Asset Disposition, the Company or such Restricted Subsidiary need only apply an amount equal to its pro rata share of such Net Available Cash in accordance with Section 4.06(a)(3) above.

  
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 (b)    In the event of an Asset Disposition that requires the purchase of
Securities (and other Senior Indebtedness of the Company or a Subsidiary Guarantor) pursuant to Section 4.06(a)(3)(C), the Company shall make such offer to purchase Securities on or before the 366th day (or in the case of an Asset Disposition by, or of the Capital Stock of, Grizzly Holdings, the 731st day) after the later of the date of such Asset Disposition or the receipt of such Net
Available Cash and will purchase Securities tendered pursuant to an offer (an “Asset Disposition Offer”) by the Company for the Securities (and such other Senior Indebtedness) at a purchase price of 100% of their principal amount
(or, in the event such other Senior Indebtedness was issued with significant original issue discount, 100% of the accreted value thereof) without premium, plus accrued but unpaid interest, subject to the rights of Holders of record on
the relevant record date to receive interest due on the relevant interest payment date (or, in respect of such other Senior Indebtedness, such lesser price, if any, as may be provided for by the terms of such Senior Indebtedness) in accordance with
the procedures (including prorating in the event of oversubscription) set forth in Section 4.06(c). If the aggregate purchase price of the securities tendered exceeds the Net Available Cash allotted to their purchase, the Company will select
the securities to be purchased on a pro rata basis but in round denominations, which in the case of the Securities will be denominations of $2,000 principal amount or any greater multiple of $1,000. The Company shall not be required to
make such an offer to purchase Securities (and other Senior Indebtedness) pursuant to this Section 4.06 if the amount of Net Available Cash available therefor is less than $25.0 million (which lesser amount shall be carried forward for
purposes of determining whether such an offer is required with respect to the Net Available Cash from any subsequent Asset Disposition). Upon completion of such an offer to purchase, Net Available Cash shall be deemed to be reduced by the aggregate
amount of such offer. 
 (c)    (1) Promptly, and in any event within 10 days after the Company
becomes obligated to make an Asset Disposition Offer, the Company shall deliver to the Trustee, and cause to be sent to each Holder, a written notice stating that the Holder may elect to have its Securities purchased by the Company either in whole
or in part (subject to prorating as described in Section 4.06(b) in the event the Asset Disposition Offer is oversubscribed) in denominations of $2,000 of principal amount or any greater integral multiple of $1,000 thereof, at the applicable
purchase price. The notice shall specify a purchase date not less than 30 days nor more than 60 days after the date of such notice (the “Purchase Date”) and shall contain such information concerning the business of the Company which
the Company in good faith believes will enable such Holders to make an informed decision (which at a minimum will include (A) the most recently filed Annual Report on Form 10-K (including audited
consolidated financial statements) of the Company, the most recent subsequently filed Quarterly Report on Form 10-Q and any Current Report on Form 8-K of the Company
filed subsequent to such Quarterly Report, other than Current Reports describing Asset Dispositions otherwise described in the offering materials (or corresponding successor reports), (B) a description of material developments in the
Company’s business subsequent to the date of the latest of such Reports, and (C) if material, appropriate pro forma financial information) and all instructions and materials necessary to tender Securities pursuant to the
Asset Disposition Offer, together with the information contained in clause (3). 

  
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 (2)    Not later than the date upon which written notice of
an Asset Disposition Offer is delivered to the Trustee as provided below, the Company shall deliver to the Trustee an Officers’ Certificate as to (A) the amount of the Offer (the “Offer Amount”), including information as
to any other Senior Indebtedness included in the Asset Disposition Offer, (B) the allocation of the Net Available Cash from the Asset Dispositions pursuant to which such Asset Disposition Offer is being made and (C) the compliance of such
allocation with the provisions of Section 4.06(a) and (b). On such date, the Company shall also irrevocably deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust) in
Temporary Cash Investments, maturing on the last day prior to the Purchase Date or on the Purchase Date if funds are immediately available by open of business, an amount equal to the Offer Amount to be held for payment in accordance with the
provisions of this Section. If the Asset Disposition Offer includes other Senior Indebtedness, the deposit described in the preceding sentence may be made with any other paying agent pursuant to arrangements satisfactory to the
Trustee.    Upon the expiration of the period for which the Asset Disposition Offer remains open (the “Offer Period”), the Company shall deliver to the Trustee for cancellation the Securities or portions thereof
which have been properly tendered to and are to be accepted by the Company. The Trustee shall, on the Purchase Date, mail or deliver payment (or cause the delivery of payment) to each tendering Holder in the amount of the purchase price. In the
event that the aggregate purchase price of the Securities delivered by the Company to the Trustee is less than the Offer Amount applicable to the Securities, the Trustee shall deliver the excess to the Company immediately after the expiration of the
Offer Period for application in accordance with this Section 4.06. 
 (3)    Holders electing to
have a Security purchased shall be required to surrender the Security, with an appropriate form duly completed, to the Company at the address specified in the notice at least three Business Days prior to the Purchase Date. Holders shall be entitled
to withdraw their election if the Trustee or the Company receives, not later than one Business Day prior to the Purchase Date, a facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Security which was
delivered for purchase by the Holder and a statement that such Holder is withdrawing its election to have such Security purchased. Holders whose Securities are purchased only in part shall be issued new Securities equal in principal amount to the
unpurchased portion of the Securities surrendered. 
 (4)    At the time the Company delivers Securities
to the Trustee which are to be accepted for purchase, the Company shall also deliver an Officers’ Certificate stating that such Securities are to be accepted by the Company pursuant to and in accordance with the terms of this Section. A
Security shall be deemed to have been accepted for purchase at the time the Trustee, directly or through an agent, mails or otherwise sends or delivers payment therefor to the surrendering Holder. 

  
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 (d)    The Company shall comply, to the extent applicable, with the
requirements of Section 14(e) of the Exchange Act and any other securities laws or regulations in connection with the repurchase of Securities pursuant to this Section 4.06. To the extent that the provisions of any securities laws or
regulations conflict with provisions of this Section 4.06, the Company shall comply with the applicable securities laws and regulations and shall be deemed not to have breached its obligations under this Section 4.06 by virtue of its
compliance with such securities laws or regulations. 
 Notwithstanding anything to the contrary in this Section 4.06, all references
herein to “Net Available Cash” shall be deemed to mean cash in an amount equal to the amount of Net Available Cash but not necessarily the actual cash received from the relevant Asset Disposition. The Company and its Subsidiaries
shall have no obligation to segregate, trace or otherwise identify Net Available Cash (other than the amount thereof), it being agreed that cash is fungible and that the Company’s obligations under this covenant may be satisfied by the
application of funds from other sources. 
 SECTION 4.07.    Limitation on Affiliate Transactions. (a) The
Company shall not, and shall not permit any Restricted Subsidiary to, enter into any transaction (including the purchase, sale, lease or exchange of any property, employee compensation arrangements or the rendering of any service) with (which term,
for purposes of this Section 4.07, shall include “for the benefit of” where appropriate in the context) any Affiliate of the Company involving aggregate consideration in excess of $5.0 million (an “Affiliate
Transaction”) unless: 
 (1)    the terms of the Affiliate Transaction, taken as a whole, are no
less favorable to the Company or such Restricted Subsidiary than those that could reasonably be expected to be obtained at the time of the Affiliate Transaction in arm’s-length dealings with a Person who
is not an Affiliate; 
 (2)    if such Affiliate Transaction involves an amount in excess of
$20.0 million, the terms of the Affiliate Transaction are set forth in writing and an officer of the Company disinterested with respect to such Affiliate Transaction shall have determined in good faith that the criteria set forth in
Section 4.07(a)(1) are satisfied and shall have approved the relevant Affiliate Transaction as evidenced by an Officers’ Certificate delivered to the Trustee stating that such Affiliate Transaction complies with this Indenture; and 

(3)    if such Affiliate Transaction involves an amount in excess of $50.0 million, the terms of the
Affiliate Transaction are set forth in writing and a majority of the members of the Board of Directors of the Company disinterested with respect to such Affiliate Transaction shall have determined in good faith that the criteria set forth in clause
(1) are satisfied and shall have approved the relevant Affiliate Transaction, all as evidenced by a resolution of the Board of Directors. 

  
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 (b)    The provisions of Section 4.07(a) shall not prohibit: 

(1)     any Investment or other Restricted Payment (or any other payments excluded from such definitions or
their component definitions), in each case not prohibited to be made pursuant to Section 4.04; 

(2)    any issuance of securities, or other payments, awards or grants in cash, securities or otherwise
pursuant to, or the funding of, employment and consulting arrangements, stock options and stock ownership plans or other benefit plans approved by the Board of Directors; 

(3)    loans or advances to officers, directors and employees in the ordinary course of business of the
Company or its Restricted Subsidiaries, but in any event not to exceed $2.5 million in the aggregate outstanding at any one time; 

(4)    reasonable fees, compensation and other benefits paid to, severance arrangements with, and indemnity
and similar arrangements provided on behalf of, officers, directors, employees and consultants of the Company or any Restricted Subsidiary of the Company as determined in good faith by the Company’s Board of Directors or senior management; 

(5)    any transaction with the Company, a Restricted Subsidiary or joint venture or other Person (other
than an Unrestricted Subsidiary) that would constitute an Affiliate Transaction solely because the Company or a Restricted Subsidiary owns, directly or indirectly, an equity interest in or otherwise controls such Restricted Subsidiary, joint venture
or other Person; provided that no Affiliate of the Company, other than the Company or a Restricted Subsidiary, shall have a beneficial interest or otherwise participate in such Restricted Subsidiary, joint venture or other Person other than
through such Affiliate’s ownership of the Company; 
 (6)    the issuance or sale of any Capital
Stock (other than Disqualified Stock) of the Company and the granting of customary registration rights in connection therewith; 

(7)    any transaction with Affiliates pursuant to or contemplated by any agreement that is described in
the Offering Memorandum or that is described in a filing with the SEC that is incorporated by reference in the Offering Memorandum and in each case any amendments, renewals or extensions of any such agreement (so long as such amendments, renewals or
extensions are not materially less favorable to the Company or the Restricted Subsidiaries, taken as a whole, than the agreement so amended, renewed or extended) and all transactions pursuant thereto or contemplated thereby; 

(8)    transactions with customers, clients, vendors, suppliers or other purchasers or sellers of goods or
services, in each case, in their capacities as such and in the ordinary course of business (including pursuant to joint venture agreements); 

  
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 (9)    any transaction on
arm’s-length terms with any non-Affiliate that becomes an Affiliate as a result of such transaction; 

(10)    Permitted Grizzly Dispositions; 

(11)    transactions between the Company or any of its Restricted Subsidiaries and any Person that would
not otherwise constitute an Affiliate Transaction except for the fact that a director or manager of such Person is also a director or manager of the Company or a Restricted Subsidiary if such director or manager abstains from voting as a director or
manager of the Company or such Restricted Subsidiary, as applicable, on such transaction; 

(12)    pledges by the Company or any Restricted Subsidiary of (or any guarantee by the Company or any
Restricted Subsidiary limited in recourse solely to) Capital Stock in Unrestricted Subsidiaries for the benefit of lenders or other creditors of the Unrestricted Subsidiaries; and 

(13)    agreements of the types described in the defined term “Permitted Business Investments,”
contracts for exploring for, drilling, developing, producing, processing, gathering, transporting, marketing or storing Hydrocarbons and Minerals or activities or services reasonably related or ancillary thereto, and other operational contracts,
that are entered into in the ordinary course of business on terms substantially similar to those contained in similar contracts entered into by the Company or any of its Restricted Subsidiaries with unrelated third parties, or if neither the Company
nor any Restricted Subsidiary has entered into a similar contract with a third party, then on terms no less favorable than those available from third parties on an arm’s length basis, in each case as determined in good faith by the Company, and
all transactions pursuant to or contemplated by such agreements and contracts. 
 SECTION 4.08.    Limitation on Line
of Business. The Company shall not, and shall not permit any Restricted Subsidiary to, engage in any business other than a Related Business, except to the extent that such business would not be material to the Company and its Restricted
Subsidiaries, taken as a whole. 
 SECTION 4.09.    Change of Control. (a) Upon the occurrence of a Change
of Control, each Holder shall have the right to require the Company to repurchase such Holder’s Securities at a purchase price in cash equal to 101% of the principal amount thereof on the date of purchase plus accrued and unpaid interest, if
any, to the date of purchase (subject to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date). 

(b)    Within 30 days following any Change of Control, the Company shall send a notice to each Holder with a copy to
the Trustee (the “Change of Control Offer”) stating: 
 (1)    that a Change of Control
has occurred and that such Holder has the right to require the Company to purchase such Holder’s Securities at a purchase 

  
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price (the “Change of Control Purchase Price”) in cash equal to 101% of the principal amount thereof on the date of purchase, plus accrued and unpaid interest, if any, to the
date of purchase (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date); 

(2)    the circumstances and relevant facts regarding such Change of Control (including information with
respect to pro forma historical income, cash flow and capitalization, in each case after giving effect to such Change of Control); 

(3)    the purchase date (which shall be no earlier than 30 days nor later than 60 days from the
date such notice is sent); and 
 (4)    the instructions, as determined by the Company, consistent with
this Section, that a Holder must follow in order to have its Securities purchased. 
 (c)    Holders electing to have a
Security purchased will be required to surrender the Security, with an appropriate form duly completed, to the Company at the address specified in the notice at least three Business Days prior to the purchase date. Holders will be entitled to
withdraw their election if the Trustee or the Company receives, not later than one Business Day prior to the purchase date, a facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Security which was
delivered for purchase by the Holder and a statement that such Holder is withdrawing its election to have such Security purchased. 

(d)    On the purchase date, all Securities purchased by the Company under this Section shall be delivered by the Company
to the Trustee for cancellation, and the Company shall pay the purchase price plus accrued and unpaid interest, if any, to the Holders entitled thereto. 

(e)    Notwithstanding the foregoing provisions of this Section, the Company shall not be required to make a Change of
Control Offer following a Change of Control if a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Section applicable to a Change of Control Offer made by
the Company and purchases all Securities validly tendered and not withdrawn under such Change of Control Offer or if notice of redemption has been given pursuant to paragraph 6 of the Securities. 

(f)    Notwithstanding any other provision of this Indenture, a Change of Control Offer may be made in advance of a Change
of Control, conditional upon such Change of Control, if a definitive agreement is in place for the Change of Control at the time of making of the Change of Control Offer. 

(g)    The Company shall comply, to the extent applicable, with the requirements of Section 14(e) of the Exchange Act
and any other securities laws or regulations in connection with the repurchase of Securities as a result of a Change of Control. To the extent that the provisions of any securities laws or regulations conflict

  
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with the provisions of this Section, the Company shall comply with the applicable securities laws and regulations and shall be deemed not to have breached its obligations under this Section by
virtue of its compliance with such securities laws or regulations. 
 (h)    In the event that Holders of not less than
90% in aggregate principal amount of the outstanding Securities accept a Change of Control Offer and the Company (or any third party making such Change of Control Offer in lieu of the Company as described above) purchases all of the Securities
tendered by such Holders, the Company shall have the right, upon not less than 30 nor more than 60 days prior notice, given not more than 30 days following the purchase pursuant to the Change of Control Offer described above, to redeem all of the
Securities that remain outstanding following such purchase at a redemption price equal to the Change of Control Purchase Price, including interest to the date of redemption (subject to the right of Holders of record on the relevant record date to
receive interest due on the relevant interest payment date). 
 SECTION 4.10.    Limitation on Liens. The Company
shall not, and shall not permit any Subsidiary Guarantor to, directly or indirectly, Incur or permit to exist any Lien (the “Initial Lien”) of any nature whatsoever on any of its properties (including Capital Stock of a Restricted
Subsidiary), whether owned at the Issue Date or thereafter acquired, securing any Indebtedness, other than Permitted Liens, without effectively providing that the Securities or such Subsidiary Guarantor’s Subsidiary Guarantee , as applicable,
shall be secured equally and ratably with (or, at the Company’s election, prior to) the Indebtedness so secured for so long as such Indebtedness is so secured. 

Any such Lien thereby created securing the Securities or any Subsidiary Guarantee pursuant to the preceding sentence shall be automatically
and unconditionally released and discharged upon (i) the release and discharge of each Initial Lien to which it relates, (ii) in the case of such Lien securing any such Subsidiary Guarantee, the termination and discharge of such Subsidiary
Guarantee in accordance with this Indenture or (iii) any sale, exchange or transfer to any Person not an Affiliate of the Company of the property or assets secured by such Initial Lien. 

SECTION 4.11.    Future Subsidiary Guarantors. The Company shall cause each Restricted Subsidiary that
enters into a Guarantee of any Indebtedness of the Company or any other Restricted Subsidiary (other than a Foreign Subsidiary that Guarantees only Indebtedness Incurred by a Foreign Subsidiary) to, in each case, within 30 days thereafter, execute
and deliver to the Trustee a Guaranty Agreement pursuant to which such Restricted Subsidiary will Guarantee payment of the Securities on the same terms and conditions as those set forth in Article 10 of this Indenture and applicable to the other
Subsidiary Guarantors. 
 SECTION 4.12.    Compliance Certificate. (a) The Company shall deliver to the
Trustee within 120 days after the end of each fiscal year of the Company an Officers’ Certificate stating that in the course of the performance by the signers of their duties as Officers of the Company they would normally have knowledge of
any Default 

  
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and whether or not the signers know of any Default that occurred during such period. If they do, the certificate shall describe the Default, its status and what action the Company is taking or
proposes to take with respect thereto. Such Officers’ Certificate shall comply with Trust Indenture Act §314(a)(4). 

(b)    So long as any of the Securities are outstanding, the Company shall deliver to the Trustee, within 30 days after
the occurrence of a Default or Event of Default, an Officers’ Certificate specifying such Default or Event of Default, its status, and what action the Company is taking or proposes to take with respect thereto. 

SECTION 4.13.    Further Instruments and Acts. Upon request of the Trustee, the Company shall execute and deliver
such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose of this Indenture. 

SECTION 4.14.    Waiver of Stay or Extension Laws. The Company (to the extent it may lawfully do so) shall not at
any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this
Indenture. The Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and shall not hinder, delay or impede the execution of any power herein granted to the Trustee, but shall suffer and
permit the execution of every such power as though no such law had been enacted. 
 SECTION 4.15.    Termination of
Covenants. 
 (a)    On the day (such date, the “Termination Date”) after the Issue Date on which:

 (1)    the Securities have an Investment Grade Rating from both Standard & Poor’s
and Moody’s; 
 (2)    no Default has occurred and is continuing; and 

(3)    the Company has delivered to the Trustee the Officers’ Certificate described below, 

the covenants listed in this sentence will be permanently terminated and the Company and its Subsidiaries, as applicable, will not be subject to the
provisions of Sections 4.03, 4.04, 4.05, 4.06, 4.07, 4.08 and Section 5.01(a)(3). On the Termination Date, the Company will provide an Officers’ Certificate to the Trustee regarding such occurrence. The Trustee shall have no obligation to
independently determine or verify if the Termination Date has occurred or notify the Holders of the Termination Date. The Trustee may provide a copy of such Officers’ Certificate to any Holder of the Securities upon written request. 

  
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 Article 5 

Successor Company 

SECTION 5.01.    When Company May Merge or Transfer Assets. (a) The Company shall not consolidate with or
merge with or into, or convey, transfer or lease, in one transaction or a series of related transactions, directly or indirectly, all or substantially all its assets to, any Person, unless: 

(1)    the resulting, surviving or transferee Person (the “Successor Company”) shall be a
corporation organized and existing under the laws of the United States of America, any State thereof or the District of Columbia, and the Successor Company (if not the Company) shall expressly assume, by an indenture supplemental
thereto, executed and delivered to the Trustee, in form reasonably satisfactory to the Trustee, all the obligations of the Company under the Securities and this Indenture; 

(2)    immediately after giving pro forma effect to such transaction (and treating any
Indebtedness which becomes an obligation of the Company or a Subsidiary as a result of such transaction as having been Incurred by the Company or such Subsidiary at the time of such transaction), no Default shall have occurred and be continuing;

 (3)    immediately after giving pro forma effect to such transaction, (x) the
Successor Company would be able to Incur an additional $1.00 of Indebtedness pursuant to Section 4.03(a) or (y) the Consolidated Coverage Ratio of the Company or the Successor Company will be equal to or greater than the Consolidated
Coverage Ratio of the Company immediately prior to such transaction; 
 (4)    the Company shall have
delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, together stating that such consolidation, merger, conveyance, transfer or lease and such supplemental indenture (if any) comply with this Indenture; and 

(5)    the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders
will not recognize income, gain or loss for Federal income tax purposes as a result of such transaction and will be subject to Federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such
transaction had not occurred; 
 provided, however, that clause (3) will not be applicable to (A) the Company or a Restricted
Subsidiary consolidating with, merging into, conveying, transferring or leasing all or part of its assets to the Company or a Subsidiary Guarantor or (B) the Company merging with an Affiliate of the Company solely for the purpose and with the
sole effect of reincorporating the Company in another jurisdiction. 

  
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 For purposes of this Section 5.01(a), the sale, lease, conveyance, assignment, transfer or
other disposition of all or substantially all of the properties and assets of one or more Restricted Subsidiaries of the Company, which properties and assets, if held by the Company instead of such Restricted Subsidiaries, would constitute all or
substantially all of the properties and assets of the Company on a consolidated basis, shall be deemed to be the transfer of all or substantially all of the assets of the Company; provided, however, that this Section 5.01(a) shall
not be applicable to Permitted Grizzly Dispositions. 
 The Successor Company (if not the Company) shall be the successor to the Company and
shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture, and the predecessor Company, except in the case of a lease, shall be released from the obligation to pay the principal of and
interest on the Securities. 
 For all purposes of this Indenture, Subsidiaries of any Successor Company will, upon any transaction subject
to this Section 5.01(a), become Restricted Subsidiaries or Unrestricted Subsidiaries as provided pursuant to this Indenture, and all Indebtedness and Liens of the Successor Company and its Subsidiaries that were not Indebtedness or Liens on
property or assets, as the case may be, of the Company and its Subsidiaries immediately prior to such transaction shall be deemed to have been Incurred upon such transaction. 

(b)    The Company shall not permit any Subsidiary Guarantor to consolidate with or merge with or into, or convey,
transfer or lease, in one transaction or a series of related transactions, all or substantially all of its assets to any Person unless: 

(1)    the resulting, surviving or transferee Person (if not such Subsidiary) shall be a Person organized
and existing under the laws of the jurisdiction under which such Subsidiary was organized or under the laws of the United States of America, or any State thereof or the District of Columbia, and such Person (if not the Company or a Subsidiary
Guarantor) shall expressly assume, by a Guaranty Agreement, all the obligations of such Subsidiary, if any, under its Subsidiary Guarantee; provided, however, that this clause (1) shall not apply if such Person is not a Subsidiary
of the Company if in connection therewith the Company provides an Officers’ Certificate to the Trustee to the effect that the Company will comply with its obligations, if any, under Section 4.06 in respect of such transaction; 

(2)    immediately after giving effect to such transaction or transactions on a pro forma
basis (and treating any Indebtedness which becomes an obligation of such Subsidiary as a result of such transaction as having been issued by such Subsidiary at the time of such transaction), no Default shall have occurred and be continuing; and 

  
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 (3)    the Company delivers to the Trustee an Officers’
Certificate and an Opinion of Counsel, together stating that such consolidation, merger or transfer and such Guaranty Agreement, if any, complies with this Indenture. 

Article 6 
 Defaults and
Remedies 
 SECTION 6.01.    Events of Default. An “Event of Default” occurs if: 

(1)    the Company defaults in any payment of interest on any Security when the same becomes due and
payable, and such default continues for a period of 30 days; 
 (2)    the Company defaults in the
payment of the principal of any Security when the same becomes due and payable at its Stated Maturity, upon optional redemption, upon required purchase, upon declaration of acceleration or otherwise; 

(3)    the Company fails to comply with its obligations in Section 5.01; 

(4)    the Company fails to comply for (i) 30 days after notice with any of its obligations in
Sections 4.03, 4.04, 4.05, 4.06 (other than a failure to purchase Securities), 4.07, 4.08, 4.09 (other than a failure to purchase Securities), 4.10 or 4.11 or (ii) 90 days after notice with any of its obligations in Section 4.02; 

(5)    the Company or any Subsidiary Guarantor fails to comply for 60 days after notice with its other
agreements contained in this Indenture; 
 (6)    Indebtedness of the Company, any Subsidiary Guarantor
or any Significant Subsidiary is not paid within any applicable grace period after final maturity or is accelerated by the holders thereof because of a default and the total amount of such Indebtedness unpaid or accelerated exceeds
$50.0 million; 
 (7)    the Company or any Significant Subsidiary pursuant to or within the meaning
of any Bankruptcy Law: 
 (A)    commences a voluntary case; 

(B)    consents to the entry of an order for relief against it in an involuntary case; 

(C)    consents to the appointment of a Custodian of it or for any substantial part of its property; or

 (D)    makes a general assignment for the benefit of its creditors; 

or takes any comparable action under any foreign laws relating to insolvency; 

  
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 (8)    a court of competent jurisdiction enters an order or
decree under any Bankruptcy Law that: 
 (A)    is for relief against the Company or any Significant
Subsidiary in an involuntary case; 
 (B)    appoints a Custodian of the Company or any Significant
Subsidiary or for any substantial part of its property; or 
 (C)    orders the winding up or liquidation
of the Company or any Significant Subsidiary; 
 or any similar relief is granted under any foreign laws and, in each case, the order or
decree remains unstayed and in effect for 60 days; 
 (9)    any judgment or decree for the payment
of money in excess of $50.0 million above the coverage under applicable insurance policies and indemnities, as to which the relevant insurer or indemnitor has not disclaimed responsibility, is entered against the Company or any Significant
Subsidiary, remains outstanding for a period of 60 consecutive days following the entry of such judgment or decree and is not discharged, waived or stayed; or 

(10)    any Subsidiary Guarantee ceases to be in full force and effect (other than in accordance with the
terms of such Subsidiary Guarantee) or any Subsidiary Guarantor denies or disaffirms its obligations under its Subsidiary Guarantee. 
 The
foregoing will constitute Events of Default whatever the reason for any such Event of Default and whether it is voluntary or involuntary or is effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule
or regulation of any administrative or governmental body. 
 A Default under clauses (4) and (5) shall not constitute an Event of
Default until the Trustee or the holders of 25% in principal amount of the outstanding Securities notify the Company of the Default and the Company does not cure such Default within the time specified after receipt of such notice. Such notice must
specify the Default, demand that it be remedied, and state that such notice is a “Notice of Default”. 
 SECTION
6.02.    Acceleration. 
 (a)    If an Event of Default (other than an Event of Default
specified in Section 6.01(7) or (8) with respect to the Company) occurs and is continuing, the Trustee by notice to the Company, or the Holders of at least 25% in principal amount of the outstanding Securities by notice to the Company and
the Trustee, may declare the principal of and accrued but unpaid interest on all the Securities to be due and payable. Upon such a declaration, such principal and interest shall be due and payable immediately. 

  
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 (b)    If an Event of Default specified in Section 6.01(7) or
(8) with respect to the Company occurs and is continuing, the principal of and interest on all the Securities shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the
Trustee or any Securityholders. 
 (c)    The Holders of a majority in principal amount of the Securities by notice to
the Trustee may rescind an acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default have been cured or waived except nonpayment of principal or interest that has become
due solely because of acceleration. No such rescission shall affect any subsequent Default or impair any right consequent thereto. 

(d)    In the event of a declaration of acceleration of the Securities solely because an Event of Default described in
Section 6.01(6) has occurred and is continuing, the declaration of acceleration of the Securities shall be automatically rescinded and annulled if the event of default or payment default triggering such Event of Default pursuant to
Section 6.01(6) shall be remedied or cured by the Company or such Subsidiary or waived by the holders of the relevant Indebtedness within 20 Business Days after the declaration of acceleration with respect thereto and if the rescission and
annulment of the acceleration of the Securities would not conflict with any judgment or decree of a court of competent jurisdiction obtained by the Trustee for the payment of amounts due on the Securities. 

SECTION 6.03.    Other Remedies. 

(a)    If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to collect the payment
of principal of or interest on the Securities or to enforce the performance of any provision of the Securities or this Indenture. 

(b)    The Trustee may maintain a proceeding even if it does not possess any of the Securities or does not produce any of
them in the proceeding. A delay or omission by the Trustee or any Securityholder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of
Default. No remedy is exclusive of any other remedy. All available remedies are cumulative. 
 SECTION
6.04.    Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities by notice to the Trustee may waive an existing Default and its consequences except: 

(a)    a Default in the payment of the principal of or interest on a Security; 

(b)    a Default arising from the failure to redeem or purchase any Security when required pursuant to this Indenture; or

  
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 (c)    a Default in respect of a provision that under Section 9.02
cannot be amended without the consent of each Securityholder affected. 
 When a Default is waived, it is deemed cured, but no such waiver
shall extend to any subsequent or other Default or impair any consequent right. 
 SECTION 6.05.    Control by
Majority. The Holders of a majority in principal amount of the outstanding Securities may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the
Trustee. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture or, subject to Section 7.01, that the Trustee determines is unduly prejudicial to the rights of other Securityholders or would involve
the Trustee in personal liability; provided, however, that the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction. 

SECTION 6.06.    Limitation on Suits. Except to enforce the right to receive payment of principal, premium (if any)
or interest when due, no Securityholder may pursue any remedy with respect to this Indenture or the Securities unless: 

(1)    such holder has previously given the Trustee notice that an Event of Default is continuing; 

(2)    holders of at least 25% in principal amount of the outstanding Securities have requested the Trustee
to pursue the remedy; 
 (3)    such holders have offered the Trustee reasonable security or indemnity
against any loss, liability or expense; 
 (4)    the Trustee has not complied with such request within
60 days after the receipt thereof and the offer of security or indemnity; and 
 (5)    holders of a
majority in principal amount of the outstanding Securities have not given the Trustee a direction inconsistent with such request within such 60-day period. 

A Securityholder may not use this Indenture to prejudice the rights of another Securityholder or to obtain a preference or priority over
another Securityholder. In the event that the Definitive Securities are not issued to any beneficial owner promptly after the Registrar has received a request from the Holder of a Global Security to issue such Definitive Securities to such
beneficial owner of its nominee, the Company expressly agrees and acknowledges, with respect to the right of any Holder to pursue a remedy pursuant to this Indenture, the right of such beneficial holder of Securities to pursue such remedy with
respect to the portion of the Global Security that represents such beneficial holder’s Securities as if such Definitive Securities had been issued. 

SECTION 6.07.    Rights of Holders to Receive Payment. Notwithstanding any other provision of this Indenture, the
right of any Holder to receive 

  
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payment of principal of and interest on the Securities held by such Holder, on or after the respective due dates expressed in the Securities, or to bring suit for the enforcement of any such
payment on or after such respective dates, shall not be impaired or affected without the consent of such Holder. 
 SECTION
6.08.    Collection Suit by Trustee. If an Event of Default specified in Section 6.01(1) or (2) occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust
against the Company for the whole amount then due and owing (together with interest on any unpaid interest to the extent lawful) and the amounts provided for in Section 7.07. 

SECTION 6.09.    Trustee May File Proofs of Claim. The Trustee may file such proofs of claim and other papers or
documents as may be necessary or advisable in order to have the claims of the Trustee and the Securityholders allowed in any judicial proceedings relative to the Company, its creditors or its property and, unless prohibited by law or applicable
regulations, may vote on behalf of the Holders in any election of a trustee in bankruptcy or other Person performing similar functions, and any Custodian in any such judicial proceeding is hereby authorized by each Holder to make payments to the
Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents
and its counsel, and any other amounts due the Trustee under Section 7.07. 
 SECTION 6.10.    Priorities.
If the Trustee collects any money or property pursuant to this Article 6, it shall pay out the money or property in the following order: 

FIRST:    to the Trustee for amounts due under Section 7.07; 

SECOND:    to Securityholders for amounts due and unpaid on the Securities for principal and
interest, ratably, without preference or priority of any kind, according to the amounts due and payable on the Securities for principal and interest, respectively; and 

THIRD:    to the Company. 

Subject to the requirements of the following sentence, the Trustee may fix a record date and payment date for any payment to Securityholders
pursuant to this Section. At least 15 days before such record date, the Company shall cause to be sent to each Securityholder and the Trustee a notice that states the record date, the payment date and amount to be paid. 

SECTION 6.11.    Undertaking for Costs. In any suit for the enforcement of any right or remedy under this Indenture
or in any suit against the Trustee for any action taken or omitted by it as Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion
may assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in the suit, having due regard to the merits and good faith 

  
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of the claims or defenses made by the party litigant. This Section does not apply to a suit by the Trustee, a suit by a Holder pursuant to Section 6.07 or a suit by Holders of more than 10%
in aggregate principal amount of the outstanding Securities. 
 Article 7 

Trustee 
 SECTION
7.01.    Duties of Trustee. (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture and use the same degree of care and skill in its
exercise as a prudent Person would exercise or use under the circumstances in the conduct of such Person’s own affairs. 

(b)    Except during the continuance of an Event of Default: 

(1)    the Trustee undertakes to perform such duties and only such duties as are specifically set forth in
this Indenture and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 

(2)    in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the
statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. However, the Trustee shall examine the certificates and opinions to
determine whether or not they conform to the requirements of this Indenture. 
 (c)    The Trustee may not be relieved
from liability for its own negligent action, its own negligent failure to act or its own wilful misconduct, except that: 

(1)    this paragraph does not limit the effect of paragraph (b) of this Section; 

(2)    the Trustee shall not be liable for any error of judgment made in good faith by a Trust Officer
unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; and 
 (3)    the
Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 6.05. 

(d)    Every provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b) and
(c) of this Section. 
 (e)    The Trustee shall not be liable for interest on any money received by it except as
the Trustee may agree in writing with the Company. 

  
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 (f)    Money held in trust by the Trustee need not be segregated from other
funds except to the extent required by law. 
 (g)    No provision of this Indenture shall require the Trustee to expend
or risk its own funds or otherwise incur financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers, if it shall have reasonable grounds to believe that repayment of such funds or adequate
indemnity against such risk or liability is not reasonably assured to it. 
 (h)    Every provision of this Indenture
relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section and to the provisions of the Trust Indenture Act. 

SECTION 7.02.    Rights of Trustee. (a) The Trustee may rely on any document believed by it to be genuine and
to have been signed or presented by the proper person. The Trustee need not investigate any fact or matter stated in the document. 

(b)    Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate or an Opinion of
Counsel. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on the Officers’ Certificate or Opinion of Counsel. 

(c)    The Trustee may act through agents and shall not be responsible for the misconduct or negligence of any agent
appointed with due care. 
 (d)    To the extent permitted under the Trust Indenture Act, the Trustee shall not be
liable for any action it takes or omits to take in good faith which it believes to be authorized or within its rights or powers. 

(e)    The Trustee may consult with counsel, and the advice or opinion of counsel with respect to legal matters relating
to this Indenture and the Securities shall be full and complete authorization and protection from liability in respect to any action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or opinion of such
counsel. 
 (f)    The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this
Indenture at the request, order or direction of any of the Holders pursuant to the provisions of this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to it against the costs, expenses and
liabilities which may be incurred therein or thereby. 
 (g)    The Trustee shall have no duty to inquire as to the
performance of the Company’s covenants in Article 4. In addition, the Trustee shall not be deemed to have knowledge of any Default or Event of Default except: (i) any Event of Default occurring pursuant to Section 6.01(1) or 6.01(2);
or (ii) any Default or Event of Default of which a Trust Officer shall have received written notification. 

  
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 SECTION 7.03.    Individual Rights of Trustee. The Trustee in its
individual or any other capacity may become the owner or pledgee of Securities and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not Trustee. Any Paying Agent, Registrar, co-registrar or co-paying agent may do the same with like rights. However, the Trustee must comply with Sections 7.10 and 7.11. 

SECTION 7.04.    Trustee’s Disclaimer. The Trustee shall not be responsible for and makes no
representation as to the validity or adequacy of this Indenture or the Securities, it shall not be accountable for the Company’s use of the proceeds from the Securities, and it shall not be responsible for any statement of the Company in this
Indenture or in any document issued in connection with the sale of the Securities or in the Securities other than the Trustee’s certificate of authentication. 

SECTION 7.05.    Notice of Defaults. If a Default occurs, is continuing and is known to the Trustee, the Trustee
shall send to each Securityholder notice of the Default within 90 days after it occurs. Except in the case of a Default in the payment of principal of or interest on any Security (including payments pursuant to the mandatory purchase provisions of
such Security), the Trustee may withhold the notice if and so long as a committee of its Trust Officers in good faith determines that withholding the notice is not opposed to the interests of the Securityholders. 

SECTION 7.06.    Reports by Trustee to Holders. As promptly as practicable after each May 15 beginning with
May 15, 2018, and in any event prior to July 15 in each year, the Trustee shall mail (or, when the Securities are represented by Global Securities, cause the Depository to send electronically pursuant to its applicable procedures) to each
Securityholder a brief report dated as of May 15 that complies with Trust Indenture Act § 313(a). The Trustee also shall comply with Trust Indenture Act §313(b). 

A copy of each report at the time of its delivery to Securityholders shall be filed with the SEC and each stock exchange (if any) on which the
Securities are listed. The Company agrees to notify promptly the Trustee whenever the Securities become listed on any stock exchange and of any delisting thereof. 

SECTION 7.07.    Compensation and Indemnity. The Company shall pay to the Trustee from time to time reasonable
compensation for its services. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee upon request for all reasonable
out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include the
reasonable compensation and expenses, disbursements and advances of the Trustee’s agents, counsel, accountants and experts. The Company shall indemnify the Trustee against any and all loss, liability or expense (including attorneys’ fees)
incurred by it in connection with the administration of this trust and the performance of its duties hereunder. The Trustee shall notify the Company promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the
Company shall not relieve the 

  
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Company of its obligations hereunder. The Company shall defend the claim and the Trustee may have separate counsel and the Company shall pay the fees and expenses of such counsel. The Company
need not reimburse any expense or indemnify against any loss, liability or expense incurred by the Trustee that has been adjudicated to have been the result of the Trustee’s own wilful misconduct, negligence or bad faith. 

To secure the Company’s payment obligations in this Section, the Trustee shall have a lien prior to the Securities on all money or
property held or collected by the Trustee other than money or property held in trust to pay principal of and interest on particular Securities. 

The Company’s payment obligations pursuant to this Section shall survive the discharge of this Indenture. When the Trustee incurs
expenses after the occurrence of a Default specified in Section 6.01(7) or (8) with respect to the Company, the expenses are intended to constitute expenses of administration under the Bankruptcy Law. 

SECTION 7.08.    Replacement of Trustee. 

(a)    The Trustee may resign at any time by so notifying the Company. The Holders of a majority in principal amount of the
outstanding Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. 

(b)    The Company shall remove the Trustee if: 

(A)    the Trustee fails to comply with Section 7.10; 

(B)    the Trustee is adjudged bankrupt or insolvent; 

(C)    a receiver or other public officer takes charge of the Trustee or its property; or 

(D)    the Trustee otherwise becomes incapable of acting. 

(c)    If the Trustee resigns, is removed by the Company or by the Holders of a majority in principal amount of the
Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall
promptly appoint a successor Trustee. 
 (d)    A successor Trustee shall deliver a written acceptance of its
appointment to the retiring Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture.
The successor Trustee shall send a notice of its succession to Securityholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.07. 

  
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 (e)    If a successor Trustee does not take office within 60 days after the
retiring Trustee resigns or is removed, the retiring Trustee or the Holders of 10% in principal amount of the outstanding Securities may petition any court of competent jurisdiction for the appointment of a successor Trustee. 

(f)    If the Trustee fails to comply with Section 7.10, any Securityholder may petition any court of competent
jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 
 (g)    Notwithstanding the
replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee. 

SECTION 7.09.    Successor Trustee by Merger. 

(a)    If the Trustee consolidates with, merges or converts into, or transfers all or substantially all its corporate trust
business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation without any further act shall be the successor Trustee. 

(b)    In case at the time such successor or successors by merger, conversion or consolidation to the Trustee shall
succeed to the trusts created by this Indenture any of the Securities shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee, and deliver such
Securities so authenticated; and in case at that time any of the Securities shall not have been authenticated, any successor to the Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the name of the
successor to the Trustee; and in all such cases such certificates shall have the full force which it is anywhere in the Securities or in this Indenture provided that the certificate of the Trustee shall have. 

SECTION 7.10.    Eligibility; Disqualification. The Trustee shall at all times satisfy the requirements of Trust
Indenture Act §310(a). The Trustee shall have a combined capital and surplus of at least $50,000,000 as set forth in its most recent published annual report of condition. The Trustee shall comply with Trust Indenture Act §310(b);
provided, however, that there shall be excluded from the operation of Trust Indenture Act §310(b)(1) any indenture or indentures under which other securities or certificates of interest or participation in other securities of
the Company are outstanding if the requirements for such exclusion set forth in Trust Indenture Act §310(b)(1) are met. 
 SECTION
7.11.    Preferential Collection of Claims Against Company. The Trustee shall comply with Trust Indenture Act §311(a), excluding any creditor relationship listed in Trust Indenture Act §311(b).
A Trustee who has resigned or been removed shall be subject to Trust Indenture Act § 311(a) to the extent indicated. 

  
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 Article 8 

Satisfaction and Discharge of Indenture; Defeasance 

SECTION 8.01.    Discharge of Liability on Securities; Defeasance. (a) When (1) the
Company delivers to the Trustee all outstanding Securities (other than Securities replaced pursuant to Section 2.07) for cancellation or (2) all outstanding Securities have become due and payable, whether at maturity or as a result of the
sending of a notice of redemption pursuant to Article 3 hereof, or will become due and payable within one year or are to be called for redemption within one year, and, in the case of clause (2), the Company irrevocably deposits with the Trustee
or the Paying Agent, as applicable, (x) cash in United States dollars or (y) cash in United States dollars, U.S. Government Obligations, or a combination thereof, in such amounts as, in the aggregate, will be sufficient (in the case of
clause (y), (A) in the opinion of a nationally recognized firm of independent public accountants or a nationally recognized investment banking firm, or (B) if no such opinion in the immediately preceding clause (A) can be reasonably
obtained, in the opinion of the chief financial officer of the Company) to pay at maturity or upon redemption all outstanding Securities, including interest thereon to maturity or such redemption date (other than Securities replaced pursuant to
Section 2.07), and if in either case the Company pays all other sums payable hereunder by the Company, then this Indenture shall, subject to Section 8.01(c), be satisfied and discharged and cease to be of further effect. The Trustee shall
acknowledge satisfaction and discharge of this Indenture on demand of the Company accompanied by an Officers’ Certificate and an Opinion of Counsel and at the cost and expense of the Company. 

(b)    Subject to Sections 2.03, 2.06, 2.07, 8.01(c) and 8.02, the Company at any time may terminate (1) all its
obligations under the Securities and this Indenture (“legal defeasance option”) or (2) its obligations under Sections 4.02, 4.03, 4.04, 4.05, 4.06, 4.07, 4.08, 4.09, 4.10 and 4.11 and the operation of Sections 6.01(6), 6.01(7),
6.01(8), 6.01(9) and 6.01(10) (but, in the case of Sections 6.01(7) and (8), with respect only to Subsidiaries) and the limitations contained in Section 5.01(a)(3) (“covenant defeasance option”). 

The Company may exercise its legal defeasance option notwithstanding its prior exercise of its covenant defeasance option. If the Company
exercises its legal defeasance option, payment of the Securities may not be accelerated because of an Event of Default with respect thereto. If the Company exercises its covenant defeasance option, payment of the Securities may not be accelerated
because of an Event of Default specified in Sections 6.01(4), 6.01(6), 6.01(7), 6.01(8), 6.01(9) and 6.01(10) (but, in the case of Sections 6.01(7) and (8), with respect only to Subsidiaries) or because of the failure of the Company to
comply with Section 5.01(a)(3). If the Company exercises its legal defeasance option or its covenant defeasance option, each Subsidiary Guarantor shall be automatically released from all of its obligations with respect to its Subsidiary
Guarantee. 

  
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 Upon satisfaction of the conditions set forth herein and upon request of the Company, the Trustee
shall acknowledge in writing the discharge of those obligations that the Company terminates. 
 (c)    Notwithstanding
clauses (a) and (b) above, the Company’s obligations in Sections 2.03, 2.04, 2.05, 2.06, 2.07, 7.07 and 7.08 and in this Article 8 shall survive until the Securities have been paid in full. Thereafter, the Company’s
obligations in Sections 7.07, 8.04 and 8.05 shall survive. 
 SECTION 8.02.    Conditions to Defeasance. The
Company may exercise its legal defeasance option or its covenant defeasance option only if: 
 (1)    the
Company irrevocably deposits in trust with the Trustee (x) cash in United States dollars or (y) cash in United States dollars, U.S. Government Obligations, or a combination thereof, in such amounts as, in the aggregate, will be sufficient
(in the case of clause (y), (A) in the opinion of a nationally recognized firm of independent public accountants or a nationally recognized investment banking firm, or (B) if no such opinion in the immediately preceding clause (A) can be
reasonably obtained, in the opinion of the chief financial officer of the Company) for the payment of principal of and interest on the Securities to redemption or maturity, as the case may be; 

(2)    the Company delivers to the Trustee a certificate from a nationally recognized firm of independent
accountants expressing their opinion (or, if two or more nationally recognized firms of independent accountants decline to issue such opinion after the Company has made reasonable efforts to obtain such an opinion, a certificate from the
Company’s chief financial officer expressing such opinion) that the payments of principal and interest when due and without reinvestment on the deposited U.S. Government Obligations plus any deposited money without investment will provide
cash at such times and in such amounts as will be sufficient to pay principal and interest when due on all the Securities to maturity or redemption, as the case may be; 

(3)    91 days pass after the deposit is made and during the
91-day period no Default specified in Sections 6.01(7) or (8) with respect to the Company occurs which is continuing at the end of the period; 

(4)    the deposit does not constitute a default under any other agreement binding on the Company (other
than a default resulting from the borrowing of funds to be applied to such deposit and any similar concurrent deposit relating to other Indebtedness and, in each case, the granting of any Lien to secure such borrowings in connection therewith); 

(5)    the Company delivers to the Trustee an Opinion of Counsel to the effect that the trust resulting
from the deposit does not constitute, or is qualified as, a regulated investment company under the Investment Company Act of 1940; 

  
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 (6)    the Company shall have delivered to the Trustee an
Opinion of Counsel stating that (A) the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (B) since the date of this Indenture there has been a change in the applicable Federal income tax
law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Securityholders will not recognize income, gain or loss for Federal income tax purposes as a result of such deposit and defeasance and will be
subject to Federal income tax on the same amounts and in the same manner and at the same times as would have been the case if such deposit and defeasance had not occurred (and, in the case of legal defeasance only, such Opinion of Counsel must be
based on a ruling of the Internal Revenue Service or other change in applicable Federal income tax law); 

(7)    in the case of the covenant defeasance option, the Company shall have delivered to the Trustee an
Opinion of Counsel to the effect that the Securityholders will not recognize income, gain or loss for Federal income tax purposes as a result of such deposit or covenant defeasance and will be subject to Federal income tax on the same amounts, in
the same manner and at the same times as would have been the case if such deposit or covenant defeasance had not occurred; and 

(8)    the Company delivers to the Trustee an Officers’ Certificate and an Opinion of Counsel,
together stating that all conditions precedent to the defeasance of the Securities as contemplated by this Article 8 have been complied with. 

Before or after a deposit, the Company may make arrangements satisfactory to the Trustee for the redemption of Securities at a future date in
accordance with Article 3. 
 SECTION 8.03.    Application of Trust Money. The Trustee shall hold in trust money
or U.S. Government Obligations deposited with it pursuant to this Article 8. It shall apply the deposited money and the money from U.S. Government Obligations through the Paying Agent and in accordance with this Indenture to the
payment of principal of and interest on the Securities. 
 SECTION 8.04.    Repayment to Company. The Trustee and
the Paying Agent shall promptly turn over to the Company upon request any excess money or securities held by them at any time. 
 Subject to
any applicable abandoned property law, the Trustee and the Paying Agent shall pay to the Company upon request any money held by them for the payment of principal or interest that remains unclaimed for two years, and, thereafter, Securityholders
entitled to the money must look to the Company for payment as general creditors. 

  
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 SECTION 8.05.    Indemnity for Government Obligations. The Company
shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against deposited U.S. Government Obligations or the principal and interest received on such U.S. Government Obligations. 

SECTION 8.06.    Reinstatement. If the Trustee or Paying Agent is unable to apply any money or U.S. Government
Obligations in accordance with this Article 8 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Company’s and
each Subsidiary Guarantor’s obligations under this Indenture, each Subsidiary Guarantee and the Securities shall be revived and reinstated as though no deposit had occurred pursuant to this Article 8 until such time as the Trustee or Paying
Agent is permitted to apply all such money or U.S. Government Obligations in accordance with this Article 8; provided, however, that, if the Company has made any payment of interest on or principal of any Securities because
of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Securities to receive such payment from the money or U.S. Government Obligations held by the Trustee or Paying Agent. 

Article 9 
 Amendments 

SECTION 9.01.    Without Consent of Holders. The Company, the Subsidiary Guarantors and the Trustee may
amend this Indenture, the Securities and the Subsidiary Guarantees without notice to or consent of any Securityholder: 

(1)    to cure any ambiguity, omission, defect or inconsistency; 

(2)    to provide for the assumption by a successor corporation of the obligations of the Company or any
Subsidiary Guarantor under this Indenture as contemplated by Article 5; 
 (3)    to provide for
uncertificated Securities in addition to or in place of certificated Securities (provided that the uncertificated Securities are issued in registered form for purposes of Section 163(f) of the Code, or in a manner such that the
uncertificated Securities are described in Section 163(f)(2)(B) of the Code); 
 (4)    to add
Guarantees with respect to the Securities, including any Subsidiary Guarantees, or to secure the Securities; 

(5)    to add to the covenants of the Company or any Subsidiary Guarantor for the benefit of the Holders of
the Securities or to surrender any right or power conferred upon the Company or any Subsidiary Guarantor; 

(6)    to make any change that does not adversely affect the rights of any holder of the Securities in any
material respect; 

  
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 (7)    to comply with any requirement of the SEC in
connection with the qualification of this Indenture under the Trust Indenture Act; 
 (8)    to make any
amendment to the provisions of this Indenture relating to the transfer and legending of Securities; provided, however, that (a) compliance with this Indenture as so amended would not result in Securities being transferred in
violation of the Securities Act or any other applicable securities law and (b) such amendment does not materially and adversely affect the rights of Holders to transfer Securities; 

(9)    to conform the text of this Indenture, the Securities or the Subsidiary Guarantees to any provision
of the “Description of the Notes” section of the Offering Memorandum to the extent that such provision in the “Description of the Notes” was intended to be a verbatim recitation of a provision of this Indenture, the Securities or
the Subsidiary Guarantees; or 
 (10)    to reflect the issuance of Additional Securities in compliance
with the terms of this Indenture. 
 After an amendment under this Section becomes effective, the Company shall send to Securityholders a
notice briefly describing such amendment. The failure to give such notice to all Securityholders, or any defect therein, shall not impair or affect the validity of an amendment under this Section. 

SECTION 9.02.    With Consent of Holders. 

(a)    The Company, the Subsidiary Guarantors and the Trustee may amend this Indenture, the Securities or the
Subsidiary Guarantees with the written consent of the Holders of at least a majority in principal amount of the Securities then outstanding (including consents obtained in connection with a tender offer or exchange for the Securities) and any past
default or compliance with any provisions may also be waived with the consent of the Holders of at least a majority in principal amount of the Securities then outstanding. However, without the consent of each Securityholder affected thereby, an
amendment or waiver may not: 
 (A)    reduce the amount of Securities whose Holders must consent to an
amendment; 
 (B)    reduce the rate of or extend the time for payment of interest on any Security; 

(C)    reduce the principal of or change the Stated Maturity of any Security; 

(D)    reduce the amount payable upon the redemption of any Security or change the date on which any
Security may be redeemed pursuant to paragraph 5 of the Securities (provided that the foregoing shall not include changing the notice periods for any redemption); 

  
 89 

 (E)    make any Security payable in money other than that
stated in the Security; 
 (F)    impair the right of any holder of the Securities to receive payment of
principal of and interest on such holder’s Securities on or after the due dates therefor or to institute suit for the enforcement of any payment on or with respect to such holder’s Securities; 

(G)    make any change in Section 6.04 or 6.07 or the second sentence of this Section; 

(H)    make any change in the ranking or priority of any Security that would adversely affect the
Securityholders; or 
 (I)    make any change in, or release other than in accordance with this
Indenture, any Subsidiary Guarantee that would adversely affect the Securityholders. 
 (b)    It shall not be necessary
for the consent of the Holders under this Section 9.02 to approve the particular form of any proposed amendment, but it shall be sufficient if such consent approves the substance thereof. 

(c)    After an amendment under this Section becomes effective, the Company shall send to Securityholders a notice briefly
describing such amendment. The failure to give such notice to all Securityholders, or any defect therein, shall not impair or affect the validity of an amendment under this Section 9.02. 

(d)    Notwithstanding the preceding, (i) the provisions under this Indenture, including Section 4.06, relative
to the obligation to make an offer to repurchase the Securities as a result of an Asset Disposition and (ii) the provisions under this Indenture, including Section 4.09, relative to the Company’s obligation to make an offer to
repurchase the Securities as a result of a Change of Control, in each case may be waived or modified with the written consent of the holders of a majority in principal amount of the Securities then outstanding. 

SECTION 9.03.    Compliance with Trust Indenture Act. Every amendment to this Indenture or the Securities shall
comply with the Trust Indenture Act as then in effect. 
 SECTION 9.04.    Revocation and Effect of Consents and
Waivers. 
 (a)    A consent to an amendment or a waiver by a Holder of a Security shall bind the Holder and every
subsequent Holder of that Security or portion of the Security that evidences the same debt as the consenting Holder’s Security, even if notation of the consent or waiver is not made on the Security. However, any such Holder or subsequent Holder
may revoke the consent or waiver as to such Holder’s Security or portion of the Security if the Trustee receives the notice of revocation before the date the amendment or waiver becomes effective. After an amendment or waiver becomes effective,
it shall bind every Securityholder. An amendment or waiver becomes effective upon the execution of such amendment or waiver by the Trustee. 

  
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 (b)    The Company may, but shall not be obligated to, fix a record date for
the purpose of determining the Securityholders entitled to give their consent or take any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then notwithstanding the immediately
preceding paragraph, those Persons who were Securityholders at such record date (or their duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any consent previously given or to take any such action,
whether or not such Persons continue to be Holders after such record date. No such consent shall be valid or effective for more than 120 days after such record date. 

SECTION 9.05.    Notation on or Exchange of Securities. If an amendment changes the terms of a Security, the
Trustee may require the Holder of the Security to deliver it to the Trustee. The Trustee may place an appropriate notation on the Security regarding the changed terms and return it to the Holder. Alternatively, if the Company or the Trustee so
determines, the Company in exchange for the Security shall issue and the Trustee shall authenticate a new Security that reflects the changed terms. Failure to make the appropriate notation or to issue a new Security shall not affect the validity of
such amendment. 
 SECTION 9.06.    Trustee To Sign Amendments. The Trustee shall sign any amendment authorized
pursuant to this Article 9 if the amendment does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may but need not sign it. In signing such amendment the Trustee shall be entitled to receive
indemnity reasonably satisfactory to it and to receive, and (subject to Section 7.01) shall be fully protected in relying upon, an Officers’ Certificate and an Opinion of Counsel stating that such amendment is authorized or permitted by
this Indenture. 
 SECTION 9.07.    Payment for Consent. Neither the Company nor any Restricted Subsidiary shall,
directly or indirectly, pay or cause to be paid any consideration, whether by way of interest, fee or otherwise, to any Holder for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of this Indenture or the
Securities unless such consideration is offered to all Holders and is paid to all Holders that so consent, waive or agree to amend in the time frame set forth in solicitation documents relating to such consent, waiver or agreement. Notwithstanding
the foregoing, the Company and its Restricted Subsidiaries shall be permitted in any such solicitation, offer (including any tender or exchange offer) or payment to exclude any category of Holders (including by jurisdiction) if (a) (i)
applicable law, regulatory guidance, listing requirements or common practice could reasonably be interpreted as requiring the Company or any Restricted Subsidiary to file a registration statement, prospectus or similar document in connection
therewith or (ii) such solicitation, offer or payment would not be permitted under applicable law with respect to Holders in such category, and (b) each excluded Holder shall have the right, in each case if such right is permitted under
applicable law and will not give rise to a filing requirement of the type described in clause (a)(i), to (i) receive any applicable solicitation materials as if it were 

  
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not an excluded Holder and (ii) accept a payment in an amount equal to the payment such Holder would have had the right to receive if it had not been an excluded Holder and had accepted such
offer. 
 Article 10 

Subsidiary Guarantees 

SECTION 10.01.    Guarantees. (a) Subject to the terms and conditions of this Article 10, each Subsidiary
Guarantor hereby unconditionally and irrevocably guarantees, jointly and severally, to each Holder and to the Trustee and its successors and assigns (i) the full and punctual payment of principal of and interest on the Securities when due,
whether at maturity, by acceleration, by redemption or otherwise, and all other monetary obligations of the Company under this Indenture and the Securities and (ii) the full and punctual performance within applicable grace periods of all other
obligations of the Company under this Indenture and the Securities (all the foregoing being hereinafter collectively called the “Guaranteed Obligations”). Each Subsidiary Guarantor further agrees that the Guaranteed Obligations may
be extended or renewed, in whole or in part, without notice or further assent from such Subsidiary Guarantor and that such Subsidiary Guarantor will remain bound under this Article 10 notwithstanding any extension or renewal of any Obligation.

 (b)    Each Subsidiary Guarantor waives presentation to, demand of, payment from and protest to the Company of any of
the Guaranteed Obligations and also waives notice of protest for nonpayment. Each Subsidiary Guarantor waives notice of any default under the Securities or the Guaranteed Obligations. The obligations of each Subsidiary Guarantor hereunder shall not
be affected by (1) the failure of any Holder or the Trustee to assert any claim or demand or to enforce any right or remedy against the Company or any other Person (including any Subsidiary Guarantor) under this Indenture, the Securities or any
other agreement or otherwise; (2) any extension or renewal of any thereof; (3) any rescission, waiver, amendment or modification of any of the terms or provisions of this Indenture, the Securities or any other agreement; (4) the
release of any security held by any Holder or the Trustee for the Guaranteed Obligations or any of them; (5) the failure of any Holder or the Trustee to exercise any right or remedy against any other guarantor of the Guaranteed Obligations; or
(6) except as set forth in Section 10.06, any change in the ownership of such Subsidiary Guarantor. 

(c)    Each Subsidiary Guarantor further agrees that its Subsidiary Guarantee herein constitutes a guarantee of payment,
performance and compliance when due (and not a guarantee of collection) and waives any right to require that any resort be had by any Holder or the Trustee to any security held for payment of the Guaranteed Obligations. 

(d)    Except as expressly set forth in Sections 8.01(b), 10.02 and 10.06, the obligations of each Subsidiary
Guarantor hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any

  
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defense of setoff, counterclaim, recoupment or termination whatsoever or by reason of the invalidity, illegality or unenforceability of the Guaranteed Obligations or otherwise. Without limiting
the generality of the foregoing, the obligations of each Subsidiary Guarantor herein shall not be discharged or impaired or otherwise affected by the failure of any Holder or the Trustee to assert any claim or demand or to enforce any remedy under
this Indenture, the Securities or any other agreement, by any waiver or modification of any thereof, by any default, failure or delay, willful or otherwise, in the performance of the obligations, or by any other act or thing or omission or delay to
do any other act or thing which may or might in any manner or to any extent vary the risk of such Subsidiary Guarantor or would otherwise operate as a discharge of such Subsidiary Guarantor as a matter of law or equity. 

(e)    Each Subsidiary Guarantor further agrees that its Guarantee herein shall continue to be effective or be reinstated,
as the case may be, if at any time payment, or any part thereof, of principal of or interest on any Guaranteed Obligation is rescinded or must otherwise be restored by any Holder or the Trustee upon the bankruptcy or reorganization of the Company or
otherwise. 
 (f)    In furtherance of the foregoing and not in limitation of any other right which any Holder or the
Trustee has at law or in equity against any Subsidiary Guarantor by virtue hereof, upon the failure of the Company to pay the principal of or interest on any Guaranteed Obligation when and as the same shall become due, whether at maturity, by
acceleration, by redemption or otherwise, or to perform or comply with any other Guaranteed Obligation, each Subsidiary Guarantor hereby promises to and shall, upon receipt of written demand by the Trustee, forthwith pay, or cause to be paid, in
cash, to the Holders or the Trustee an amount equal to the sum of (A) the unpaid amount of such Guaranteed Obligations, (B) accrued and unpaid interest on such Guaranteed Obligations (but only to the extent not prohibited by law) and
(C) all other monetary Guaranteed Obligations of the Company to the Holders and the Trustee. 
 (g)    Each
Subsidiary Guarantor agrees that, as between it, on the one hand, and the Holders and the Trustee, on the other hand, (i) the maturity of the Guaranteed Obligations hereby may be accelerated as provided in Article 6 for the purposes of such
Subsidiary Guarantor’s Subsidiary Guarantee herein, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the Guaranteed Obligations guaranteed hereby, and (ii) in the event of any declaration
of acceleration of such Guaranteed Obligations as provided in Article 6, such Guaranteed Obligations (whether or not due and payable) shall forthwith become due and payable by such Subsidiary Guarantor for the purposes of this Section. 

(h)    Each Subsidiary Guarantor also agrees to pay any and all costs and expenses (including reasonable attorneys’
fees) incurred by the Trustee or any Holder in enforcing any rights under this Section. 
 SECTION
10.02.    Limitation on Liability. Any term or provision of this Indenture to the contrary notwithstanding, the maximum aggregate amount of the Guaranteed Obligations guaranteed hereunder by any Subsidiary Guarantor shall
not 

  
 93 

 
exceed the maximum amount that can be hereby guaranteed without rendering this Indenture, as it relates to such Subsidiary Guarantor, voidable under applicable law relating to fraudulent
conveyance or fraudulent transfer or similar laws affecting the rights of creditors generally. 
 SECTION
10.03.    Successors and Assigns. This Article 10 shall be binding upon each Subsidiary Guarantor and its successors and assigns and shall enure to the benefit of the successors and assigns of the Trustee and the
Holders and, in the event of any transfer or assignment of rights by any Holder or the Trustee, the rights and privileges conferred upon that party in this Indenture and in the Securities shall automatically extend to and be vested in such
transferee or assignee, all subject to the terms and conditions of this Indenture. 
 SECTION 10.04.    No
Waiver. Neither a failure nor a delay on the part of either the Trustee or the Holders in exercising any right, power or privilege under this Article 10 shall operate as a waiver thereof, nor shall a single or partial exercise thereof preclude
any other or further exercise of any right, power or privilege. The rights, remedies and benefits of the Trustee and the Holders herein expressly specified are cumulative and not exclusive of any other rights, remedies or benefits which either may
have under this Article 10 at law, in equity, by statute or otherwise. 
 SECTION 10.05.    Modification. No
modification, amendment or waiver of any provision of this Article 10, nor the consent to any departure by any Subsidiary Guarantor therefrom, shall in any event be effective unless the same shall be in writing and signed by the Trustee, and
then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. No notice to or demand on any Subsidiary Guarantor in any case shall entitle such Subsidiary Guarantor to any other or further notice
or demand in the same, similar or other circumstances. 
 SECTION 10.06.    Release of Subsidiary
Guarantor. A Subsidiary Guarantor will be automatically released from its obligations under this Article 10 (other than any obligation that may have arisen under Section 10.07): 

(1)    upon any consolidation with or merger with or into, or conveyance, transfer or lease, in one
transaction or a series of related transactions, of all or substantially all of its assets to any Person by such Subsidiary Guarantor except as required pursuant to Section 5.01(b)(1); 

(2)    upon the disposition of all or a portion of the Capital Stock of such Subsidiary Guarantor such that
such Subsidiary Guarantor ceases to be a Subsidiary, if, in connection therewith, the Company provides an Officers’ Certificate to the Trustee to the effect that the Company will comply with its obligations, if any, under Section 4.06 in
respect of such disposition; 
 (3)    upon the designation of such Subsidiary Guarantor as an
Unrestricted Subsidiary; 

  
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 (4)    at such time as such Subsidiary Guarantor does not
have any Guarantees outstanding that would have required such Subsidiary Guarantor to enter into a Guaranty Agreement pursuant to Section 4.11; or 

(5)    if the Company exercises its legal defeasance option or its covenant defeasance option in
Section 8.01 or if the Company’s obligations under this Indenture are discharged in accordance with the terms of this Indenture. 
 Upon delivery
by the Company to the Trustee of an Officers’ Certificate and an Opinion of Counsel to the effect that any of the conditions described above has occurred, the Trustee shall execute any supplemental indenture or other documents reasonably
requested by the Company in order to evidence the release of any Subsidiary Guarantor from its obligations under its Subsidiary Guarantee and this Indenture. 

SECTION 10.07.    Contribution. Each Subsidiary Guarantor that makes a payment under its Subsidiary Guarantee shall
be entitled upon payment in full of all Guaranteed Obligations under this Indenture to a contribution from each other Subsidiary Guarantor in an amount equal to such other Subsidiary Guarantor’s pro rata portion of such payment
based on the respective net assets of all the Subsidiary Guarantors at the time of such payment determined in accordance with GAAP. 

Article 11 
 Miscellaneous

 SECTION 11.01.    Trust Indenture Act Controls. If any provision of this Indenture limits, qualifies or
conflicts with another provision which is required to be included in this Indenture by the Trust Indenture Act, the required provision shall control. 

SECTION 11.02.    Notices. (a) Any notice or communication shall be in writing and delivered in person or
mailed by first-class mail addressed as follows: 
 if to the Company or any Subsidiary Guarantor: 

Gulfport Energy Corporation 

3001 Quail Springs Pkwy. 

Oklahoma City, OK 73134 

Attention: Chief Financial Officer 

Facsimile: (405) 252-4901 

if to the Trustee: 
 Wells Fargo
Bank, N.A. 
 1445 Ross Avenue, Suite 4300 

Dallas, TX 75202-2812 
 MAC: T9216-430 
 Attention: Corporate, Municipal and Escrow Services 

Telecopier No.: (469) 729-7638 

  
 95 

 (b)    The Company, any Subsidiary Guarantor or the Trustee by notice to the
other may designate additional or different addresses for subsequent notices or communications. 
 (c)    Any notice or
communication mailed or otherwise sent to a Securityholder shall be sent to the Securityholder at the Securityholder’s address as it appears on the registration books of the Registrar and shall be sufficiently given if so mailed within the time
prescribed. 
 (d)    Failure to mail or otherwise send a notice or communication to a Securityholder or any defect in
it shall not affect its sufficiency with respect to other Securityholders. If a notice or communication is mailed or sent in the manner provided above, it is duly given, whether or not the addressee receives it. 

SECTION 11.03.    Communication by Holders with Other Holders. Securityholders may communicate pursuant to Trust
Indenture Act §312(b) with other Securityholders with respect to their rights under this Indenture or the Securities. The Company, any Subsidiary Guarantor, the Trustee, the Registrar and anyone else shall have the protection of Trust Indenture
Act §312(c). 
 SECTION 11.04.    Certificate and Opinion as to Conditions Precedent. Upon any request or
application by the Company to the Trustee to take or refrain from taking any action under this Indenture, the Company shall furnish to the Trustee: 

(1)    an Officers’ Certificate in form and substance reasonably satisfactory to the Trustee stating
that, in the opinion of the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and 

(2)    an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee stating that, in
the opinion of such counsel, all such conditions precedent have been complied with. 
 SECTION 11.05.    Statements
Required in Certificate or Opinion. Each certificate or opinion with respect to compliance with a covenant or condition provided for in this Indenture shall include: 

(1)    a statement that the individual making such certificate or opinion has read such covenant or
condition; 
 (2)    a brief statement as to the nature and scope of the examination or investigation
upon which the statements or opinions contained in such certificate or opinion are based; 
 (3)    a
statement that, in the opinion of such individual, he has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

  
 96 

 (4)    a statement as to whether or not, in the opinion of
such individual, such covenant or condition has been complied with. 
 SECTION 11.06.    When Securities
Disregarded. In determining whether the Holders of the required principal amount of Securities have concurred in any direction, waiver or consent, Securities owned by the Company or by any Person directly or indirectly controlling or controlled
by or under direct or indirect common control with the Company shall be disregarded and deemed not to be outstanding, except that, for the purpose of determining whether the Trustee shall be protected in relying on any such direction, waiver or
consent, only Securities which the Trustee knows are so owned shall be so disregarded. Also, subject to the foregoing, only Securities outstanding at the time shall be considered in any such determination. 

SECTION 11.07.    Rules by Trustee, Paying Agent and Registrar. The Trustee may make reasonable rules for action by
or a meeting of Securityholders. The Registrar and the Paying Agent may make reasonable rules for their functions. 
 SECTION
11.08.    Legal Holidays. If a payment date is a Legal Holiday, payment shall be made on the next succeeding day that is not a Legal Holiday, and no interest shall accrue for the intervening period. If a regular record
date is a Legal Holiday, the record date shall not be affected. 
 SECTION 11.09.    Governing Law. This
Indenture and the Securities shall be governed by, and construed in accordance with, the laws of the State of New York. 
 SECTION
11.10.    No Recourse Against Others. A director, officer, employee, incorporator or stockholder, as such, of the Company or any Subsidiary Guarantor (other than a stockholder that is the Company or another Subsidiary
Guarantor) shall not have any liability for any obligations of the Company or any Subsidiary Guarantor under the Securities, any Subsidiary Guarantee or this Indenture or for any claim based on, in respect of, or by reason of, such
obligations or their creation. By accepting a Security, each Securityholder shall waive and release all such liability. The waiver and release shall be part of the consideration for the issuance of the Securities. 

SECTION 11.11.    Successors. All agreements of the Company in this Indenture and the Securities shall bind its
successors. All agreements of the Trustee in this Indenture shall bind its successors. 
 SECTION 11.12.    Multiple
Originals. The parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. One signed copy is enough to prove this Indenture. The exchange of copies of
this Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the
parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes. 

  
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 SECTION 11.13.    Table of Contents; Headings. The table of contents,
cross-reference sheet and headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not intended to be considered a part hereof and shall not modify or restrict any of the terms or provisions
hereof. 

  
 98 

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

					
	GULFPORT ENERGY CORPORATION,
		
	    By	 	         /s/ Michael Moore

		 	Name:	 	Michael Moore
		 	Title:	 	Chief Executive Officer
	
	JAGUAR RESOURCES LLC,
		
	    By	 	         /s/ Michael Moore

		 	Name:	 	Michael Moore
		 	Title:	 	Chief Executive Officer
	
	PUMA RESOURCES, INC.,
		
	    By	 	         /s/ Michael Moore

		 	Name:	 	Michael Moore
		 	Title:	 	Chief Executive Officer
	
	GATOR MARINE, INC.,
		
	    By	 	         /s/ Michael Moore

		 	Name:	 	Michael Moore
		 	Title:	 	Chief Executive Officer

  
 [Signature page to
2017 Indenture] 

					
	GATOR MARINE IVANHOE, INC.,
		
	    By	 	         /s/ Michael Moore

		 	Name:	 	Michael Moore
		 	Title:	 	Chief Executive Officer
	
	WESTHAWK MINERALS LLC,
		
	    By	 	         /s/ Michael Moore

		 	Name:	 	Michael Moore
		 	Title:	 	Chief Executive Officer
	
	GULFPORT APPALACHIA, LLC,
		
	    By	 	         /s/ Michael Moore

		 	Name:	 	Michael Moore
		 	Title:	 	Chief Executive Officer
	
	GULFPORT MIDSTREAM HOLDINGS, LLC,
		
	    By	 	         /s/ Michael Moore

		 	Name:	 	Michael Moore
		 	Title:	 	Chief Executive Officer
	
	GULFPORT MIDCON, LLC,
		
	    By	 	         /s/ Michael Moore

		 	Name:	 	Michael Moore
		 	Title:	 	Chief Executive Officer

  
 [Signature page to
2017 Indenture] 

					
	WELLS FARGO BANK, N.A.,
		
	    By	 	         /s/ Patrick T. Giordano

		 	Name:	 	Patrick T. Giordano
		 	Title:	 	Vice President

  
 [Signature page to
2017 Indenture] 

 RULE 144A/REGULATION S APPENDIX 

PROVISIONS RELATING TO INITIAL SECURITIES, 

PRIVATE EXCHANGE SECURITIES 

AND EXCHANGE SECURITIES 

1.    Definitions 

1.1    Definitions 

For the purposes of this Appendix the following terms shall have the meanings indicated below: 

“Applicable Procedures” means, with respect to any transfer or transaction involving a Temporary Regulation S Global Security
or beneficial interest therein, the rules and procedures of the Depository for such a Temporary Regulation S Global Security, to the extent applicable to such transaction and as in effect from time to time. 

“Definitive Security” means a certificated Initial Security or Exchange Security or Private Exchange Security bearing, if
required, the appropriate restricted securities legend set forth in Section 2.3(e). 
 “Depository” means The
Depository Trust Company, its nominees and their respective successors. 
 “Distribution Compliance Period”, with respect
to any Securities, means the period of 40 consecutive days beginning on and including the later of (i) the day on which such Securities are first offered to Persons other than distributors (as defined in Regulation S under the Securities Act)
in reliance on Regulation S and (ii) the issue date with respect to such Securities. 
 “Exchange Securities” means
(1) the 6.375% Senior Notes due 2026 issued pursuant to this Indenture in connection with a Registered Exchange Offer pursuant to the Registration Rights Agreement and (2) Additional Securities, if any, issued pursuant to a registration
statement filed with the SEC under the Securities Act. 
 “IAI” means an institutional “accredited investor”, as
defined in Rule 501(a)(1), (2), (3) and (7) of Regulation D under the Securities Act. 
 “Initial Purchasers”
means (1) with respect to the Initial Securities issued on the Issue Date, J.P. Morgan Securities LLC, Scotia Capital (USA) Inc., KeyBanc Capital Markets Inc., PNC Capital Markets LLC, Barclays Capital Inc., Credit Suisse Securities (USA) LLC,
BBVA Securities Inc., U.S. Bancorp Investments, Inc., Commonwealth Bank of Australia, ABN AMRO Securities (USA) LLC, BOK Financial Securities, Inc., CIBC World Markets Corp., Fifth Third Securities, Inc., IBERIA Capital Partners L.L.C., Morgan
Stanley & Co. LLC, and Samuel A. Ramirez & Company, Inc. and (2) with respect to each issuance of Additional Securities, the Persons purchasing such Additional Securities under the related Purchase Agreement. 

 “Initial Securities” means (1) $450.0 million aggregate principal
amount of 6.375% Senior Notes due 2026 issued on the Issue Date and (2) Additional Securities, if any, issued in a transaction exempt from the registration requirements of the Securities Act. 

“Private Exchange” means the offer by the Company, pursuant to the Registration Rights Agreement, to the Initial Purchasers
to issue and deliver to each Initial Purchaser, in exchange for the Initial Securities held by the Initial Purchaser as part of its initial distribution, a like aggregate principal amount of Private Exchange Securities. 

“Private Exchange Securities” means any 6.375% Senior Notes due 2026 issued in connection with a Private Exchange. 

“Purchase Agreement” means (1) with respect to the Initial Securities issued on the Issue Date, the Purchase Agreement
dated October 5, 2017, among the Company and the representative of the Initial Purchasers, and (2) with respect to each issuance of Additional Securities, the purchase agreement or underwriting agreement among the Company and the Persons
purchasing such Additional Securities. 
 “QIB” means a “qualified institutional buyer” as defined in Rule 144A.

 “Registered Exchange Offer” means the offer by the Company, pursuant to the Registration Rights Agreement, to certain
Holders of Initial Securities, to issue and deliver to such Holders, in exchange for the Initial Securities, a like aggregate principal amount of Exchange Securities registered under the Securities Act. 

“Registration Rights Agreement” means (1) with respect to the Initial Securities issued on the Issue Date, the
Registration Rights Agreement dated October 11, 2017 among the Company, the Subsidiary Guarantors and the representative of the Initial Purchasers and (2) with respect to each issuance of Additional Securities issued in a transaction
exempt from the registration requirements of the Securities Act, the registration rights agreement, if any, among the Company and the Persons purchasing such Additional Securities under the related Purchase Agreement. 

“Rule 144A Securities” means all Securities offered and sold to QIBs in reliance on Rule 144A. 

“Securities” means the Initial Securities, the Exchange Securities and the Private Exchange Securities, treated as a single
class. 
 “Securities Act” means the Securities Act of 1933. 

“Securities Custodian” means the custodian with respect to a Global Security (as appointed by the Depository), or any
successor Person thereto and shall initially be the Trustee. 

  
 2 

 “Shelf Registration Statement” means the registration statement issued by the
Company in connection with the offer and sale of Initial Securities or Private Exchange Securities pursuant to the a Registration Rights Agreement. 

“Transfer Restricted Securities” means Securities that bear or are required to bear the legend relating to restrictions on
transfer relating to the Securities Act set forth in Section 2.3(e) hereto. 
 1.2    Other Definitions 

 

			
	 Term
	  	Defined in
Section:
	 “Agent Members”
	  	2.1(b)
		
	 “IAI Global Security”
	  	2.1(a)
		
	 “Permanent Regulation S Global Security”
	  	2.1(a)
		
	 “Regulation S”
	  	2.1(a)
		
	 “Regulation S Global Security”
	  	2.1(a)
		
	 “Rule 144A”
	  	2.1(a)
		
	 “Rule 144A Global Security”
	  	2.1(a)
		
	 “Temporary Regulation S Global Security”
	  	2.1(a)

 2.    The Securities. 

2.1    (a) Form and Dating. The Initial Securities will be offered and sold by the Company pursuant to a
Purchase Agreement. The Initial Securities will be resold initially only to (i) QIBs in reliance on Rule 144A under the Securities Act (“Rule 144A”) and (ii) Persons other than U.S. Persons (as
defined in Regulation S) in reliance on Regulation S under the Securities Act (“Regulation S”). Initial Securities may thereafter be transferred to, among others, QIBs, IAIs and purchasers in reliance on Regulation S, subject to the
restrictions on transfer set forth herein. Initial Securities initially resold pursuant to Rule 144A shall be issued initially in the form of one or more permanent global Securities in definitive, fully registered form (collectively, the
“Rule 144A Global Security”); Initial Securities initially resold to IAIs shall be issued initially in the form of one or more permanent global Securities in definitive, fully registered form (collectively, the “IAI Global
Security”); and Initial Securities initially resold pursuant to Regulation S shall be issued initially in the form of one or more temporary global securities in fully registered form (collectively, the “Temporary Regulation S Global
Security”), in each case without interest coupons and with the global securities legend and the applicable restricted securities legend set forth in Exhibit 1 hereto, which shall be 

  
 3 

 
deposited on behalf of the purchasers of the Initial Securities represented thereby with the Securities Custodian and registered in the name of the Depository or a nominee of the Depository, duly
executed by the Company and authenticated by the Trustee as provided in this Indenture. Except as set forth in this Section 2.1(a), beneficial ownership interests in the Temporary Regulation S Global Security will not be exchangeable for
interests in the Rule 144A Global Security, the IAI Global Security, a permanent global security (the “Permanent Regulation S Global Security”, and together with the Temporary Regulation S Global Security, the “Regulation S
Global Security”) or any other Security prior to the expiration of the Distribution Compliance Period and then, after the expiration of the Distribution Compliance Period, may be exchanged for interests in a Rule 144A Global Security,
an IAI Global Security or the Permanent Regulation S Global Security only upon certification in form reasonably satisfactory to the Trustee that (i) beneficial ownership interests in such Temporary Regulation S Global Security are owned
either by non-U.S. persons or U.S. persons who purchased such interests in a transaction that did not require registration under the Securities Act and (ii) in the case of an exchange for an IAI Global
Security, certification that the interest in the Temporary Regulation S Global Security is being transferred to an institutional “accredited investor” under the Securities Act that is an institutional accredited investor acquiring the
securities for its own account or for the account of an institutional accredited investor. 
 Beneficial interests in Temporary Regulation S
Global Securities or IAI Global Securities may be exchanged for interests in Rule 144A Global Securities if (1) such exchange occurs in connection with a transfer of Securities in compliance with Rule 144A and (2) the transferor of
the beneficial interest in the Temporary Regulation S Global Security or the IAI Global Security, as applicable, first delivers to the Trustee a written certificate (in a form satisfactory to the Trustee) to the effect that the beneficial interest
in the Temporary Regulation S Global Security or the IAI Global Security, as applicable, is being transferred to a Person (a) who the transferor reasonably believes to be a QIB, (b) purchasing for its own account or the account of a QIB in
a transaction meeting the requirements of Rule 144A, and (c) in accordance with all applicable securities laws of the States of the United States and other jurisdictions. 

Beneficial interests in Temporary Regulation S Global Securities and Rule 144A Global Securities may be exchanged for an interest in IAI
Global Securities if (1) such exchange occurs in connection with a transfer of the securities in compliance with an exemption under the Securities Act and (2) the transferor of the Regulation S Global Security or Rule 144A Global
Security, as applicable, first delivers to the trustee a written certificate (substantially in the form of Exhibit 2) to the effect that (A) the Regulation S Global Security or Rule 144A Global Security, as applicable, is being transferred
(a) to an “accredited investor” within the meaning of 501(a)(1),(2),(3) and (7) under the Securities Act that is an institutional investor acquiring the securities for its own account or for the account of such an institutional
accredited investor, in each case in a minimum principal amount of the securities of $250,000, for investment purposes and not with a view to or for offer or sale in connection with any distribution in violation of the Securities Act and (B) in
accordance with all applicable securities laws of the States of the United States and other jurisdictions. 

  
 4 

 Beneficial interests in a Rule 144A Global Security or an IAI Global Security may be
transferred to a Person who takes delivery in the form of an interest in a Regulation S Global Security, whether before or after the expiration of the Distribution Compliance Period, only if the transferor first delivers to the Trustee a
written certificate (in the form provided in this Indenture) to the effect that such transfer is being made in accordance with Rule 903 or 904 of Regulation S or Rule 144 (if applicable). 

The Rule 144A Global Security, the IAI Global Security, the Temporary Regulation S Global Security and the Permanent Regulation S Global
Security are collectively referred to herein as “Global Securities”. The aggregate principal amount of the Global Securities may from time to time be increased or decreased by adjustments made on the records of the Trustee and the
Depository or its nominee as hereinafter provided. 
 (b)    Book-Entry Provisions. This Section 2.1(b)
shall apply only to a Global Security deposited with or on behalf of the Depository. 
 The Company shall execute and the Trustee shall, in
accordance with this Section 2.1(b), authenticate and deliver initially one or more Global Securities that (i) shall be registered in the name of the Depository for such Global Security or Global Securities or the nominee of such
Depository and (ii) shall be delivered by the Trustee to the Depository or pursuant to the Depository’s instructions or held by the Trustee as custodian for the Depository. 

Members of, or participants in, the Depository (“Agent Members”) shall have no rights under this Indenture with respect to
any Global Security held on their behalf by the Depository or by the Trustee as the custodian of the Depository or under such Global Security, and the Company, the Trustee and any agent of the Company or the Trustee shall be entitled to treat the
Depository as the absolute owner of such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to any written
certification, proxy or other authorization furnished by the Depository or impair, as between the Depository and its Agent Members, the operation of customary practices of such Depository governing the exercise of the rights of a holder of a
beneficial interest in any Global Security. 
 (c)    Definitive Securities. Except as provided in this
Section 2.1 or Section 2.3 or 2.4, owners of beneficial interests in Global Securities shall not be entitled to receive physical delivery of Definitive Securities. 

2.2    Authentication. The Trustee shall authenticate and deliver: (1) on the Issue Date, an aggregate
principal amount of $450.0 million 6.375% Senior Notes due 2026, (2) any Additional Securities for an original issue in an aggregate principal amount specified in the written order of the Company pursuant to Section 2.02 of this
Indenture and (3) Exchange Securities or Private Exchange Securities for issue only in a Registered Exchange Offer or a Private Exchange, respectively, pursuant to a Registration Rights Agreement, for a like principal amount of Initial
Securities, in each case upon a written 

  
 5 

 
order of the Company signed by two Officers or by an Officer and either an Assistant Treasurer or an Assistant Secretary of the Company. Such order shall specify the amount of the Securities to
be authenticated and the date on which the original issue of Securities is to be authenticated and, in the case of any issuance of Additional Securities pursuant to Section 2.13 of this Indenture, shall certify that such issuance is in
compliance with Section 4.03 of this Indenture.  
 2.3    Transfer and Exchange. 

(a)    Transfer and Exchange of Definitive Securities. When Definitive Securities are presented to the Registrar
with a request: 
  

	 	(x)	to register the transfer of such Definitive Securities; or 

  

	 	(y)	to exchange such Definitive Securities for an equal principal amount of Definitive Securities of other authorized denominations, 

the Registrar shall register the transfer or make the exchange as requested if its reasonable requirements for such transaction are met; provided,
however, that the Definitive Securities surrendered for transfer or exchange: 
 (i)    shall be
duly endorsed or accompanied by a written instrument of transfer in form reasonably satisfactory to the Company and the Registrar, duly executed by the Holder thereof or its attorney duly authorized in writing; and 

(ii)    if such Definitive Securities are required to bear a restricted securities legend, they are being
transferred or exchanged pursuant to an effective registration statement under the Securities Act, pursuant to Section 2.3(b) or pursuant to clause (A), (B) or (C) below, and are accompanied by the following additional information and
documents, as applicable: 
 (A)     if such Definitive Securities are being delivered to the Registrar
by a Holder for registration in the name of such Holder, without transfer, a certification from such Holder to that effect; or 

(B)    if such Definitive Securities are being transferred to the Company, a certification to that effect;
or 
 (C)    if such Definitive Securities are being transferred (x) pursuant to an exemption from
registration in accordance with Rule 144A, Regulation S or Rule 144 under the Securities Act; or (y) in reliance upon another exemption from the requirements of the Securities Act: (i) a certification to that effect (in the form set forth
on the reverse of the Security) and (ii) if the Company so requests, an opinion of counsel or other evidence reasonably satisfactory to it as to the compliance with the restrictions set forth in the legend set forth in Section 2.3(e)(i).

  
 6 

 (b)    Restrictions on Transfer of a Definitive Security for a Beneficial
Interest in a Global Security. A Definitive Security may not be exchanged for a beneficial interest in a Rule 144A Global Security, an IAI Global Security or a Permanent Regulation S Global Security except upon satisfaction of the
requirements set forth below. Upon receipt by the Trustee of a Definitive Security, duly endorsed or accompanied by appropriate instruments of transfer, in form satisfactory to the Trustee, together with: 

(i)    certification, in the form set forth on the reverse of the Security, that such Definitive Security
is either (A) being transferred to a QIB in accordance with Rule 144A, (B) being transferred to an IAI or (C) being transferred after expiration of the Distribution Compliance Period by a Person who initially purchased such Security
in reliance on Regulation S to a buyer who elects to hold its interest in such Security in the form of a beneficial interest in the Permanent Regulation S Global Security; and 

(ii)    written instructions directing the Trustee to make, or to direct the Securities Custodian to make,
an adjustment on its books and records with respect to such Rule 144A Global Security (in the case of a transfer pursuant to clause (b)(i)(A)), IAI Global Security (in the case of a transfer pursuant to clause (b)(1)(B)) or Permanent Regulation
S Global Security (in the case of a transfer pursuant to clause (b)(i)(B)) to reflect an increase in the aggregate principal amount of the Securities represented by the Rule 144A Global Security, IAI Global Security or Permanent Regulation S Global
Security, as applicable, such instructions to contain information regarding the Depository account to be credited with such increase, 
 then the Trustee
shall cancel such Definitive Security and cause, or direct the Securities Custodian to cause, in accordance with the standing instructions and procedures existing between the Depository and the Securities Custodian, the aggregate principal amount of
Securities represented by the Rule 144A Global Security, IAI Global Security or Permanent Regulation S Global Security, as applicable, to be increased by the aggregate principal amount of the Definitive Security to be exchanged and shall credit or
cause to be credited to the account of the Person specified in such instructions a beneficial interest in the Rule 144A Global Security, IAI Global Security or Permanent Regulation S Global Security, as applicable, equal to the principal amount of
the Definitive Security so canceled. If no Rule 144A Global Securities, IAI Global Securities or Permanent Regulation S Global Securities, as applicable, are then outstanding, the Company shall issue and the Trustee shall authenticate, upon written
order of the Company in the form of an Officers’ Certificate of the Company, a new Rule 144A Global Security, IAI Global Security or Permanent Regulation S Global Security, as applicable, in the appropriate principal amount. 

  
 7 

 (c)    Transfer and Exchange of Global Securities. 

(i)    The transfer and exchange of Global Securities or beneficial interests therein shall be effected
through the Depository, in accordance with this Indenture (including applicable restrictions on transfer set forth herein, if any) and the procedures of the Depository therefor. A transferor of a beneficial interest in a Global Security shall
deliver to the Registrar a written order given in accordance with the Depository’s procedures containing information regarding the participant account of the Depository to be credited with a beneficial interest in the Global Security. The
Registrar shall, in accordance with such instructions, instruct the Depository to credit to the account of the Person specified in such instructions a beneficial interest in the Global Security and to debit the account of the Person making the
transfer the beneficial interest in the Global Security being transferred. 
 (ii)    If the proposed
transfer is a transfer of a beneficial interest in one Global Security to a beneficial interest in another Global Security, the Registrar shall reflect on its books and records the date and an increase in the principal amount of the Global Security
to which such interest is being transferred in an amount equal to the principal amount of the interest to be so transferred, and the Registrar shall reflect on its books and records the date and a corresponding decrease in the principal amount of
the Global Security from which such interest is being transferred. 
 (iii)    Notwithstanding any other
provisions of this Appendix (other than the provisions set forth in Section 2.4), a Global Security may not be transferred as a whole except by the Depository to a nominee of the Depository or by a nominee of the Depository to the Depository or
another nominee of the Depository or by the Depository or any such nominee to a successor Depository or a nominee of such successor Depository. 

(iv)    In the event that a Global Security is exchanged for Definitive Securities pursuant to
Section 2.4 of this Appendix, prior to the consummation of a Registered Exchange Offer or the effectiveness of a Shelf Registration Statement with respect to such Securities, such Securities may be exchanged only in accordance with such
procedures as are substantially consistent with the provisions of this Section 2.3 (including the certification requirements set forth on the reverse of the Initial Securities intended to ensure that such transfers comply with Rule 144A,
Regulation S or another applicable exemption under the Securities Act, as the case may be) and such other procedures as may from time to time be adopted by the Company. 

(d)    Restrictions on Transfer of Temporary Regulation S Global Securities. During the Distribution Compliance
Period, beneficial ownership interests in Temporary Regulation S Global Securities may only be sold, pledged or transferred in accordance with the Applicable Procedures and only (i) to the Company, (ii) in an offshore transaction in
accordance with Regulation S (other than a transaction resulting in 

  
 8 

 
an exchange for an interest in a Permanent Regulation S Global Security), or (iii) pursuant to an effective registration statement under the Securities Act, in each case in accordance with
any applicable securities laws of any State of the United States. 
 (e)    Legend. 

(i)    Except as permitted by the following paragraphs (ii), (iii) and (iv), each Security certificate
evidencing the Global Securities (and all Securities issued in exchange therefor or in substitution thereof), in the case of Securities offered otherwise than in reliance on Regulation S shall bear a legend in substantially the following form:

 THIS SECURITY (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE UNITED STATES SECURITIES ACT
OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THIS SECURITY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. 

THE HOLDER OF THIS SECURITY AGREES FOR THE BENEFIT OF THE COMPANY THAT (A) THIS SECURITY MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED, ONLY (I) IN THE UNITED STATES TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A,
(II) OUTSIDE THE UNITED STATES IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 904 UNDER THE SECURITIES ACT, (III) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF
AVAILABLE) OR (IV) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH OF CASES (I) THROUGH (IV) IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES, AND (B) THE HOLDER
WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER OF THIS SECURITY FROM IT OF THE RESALE RESTRICTIONS REFERRED TO IN (A) ABOVE. 

  
 9 

 Each certificate evidencing a Security offered in reliance on Regulation S shall,
in addition to the foregoing, bear a legend in substantially the following form: 
 THIS SECURITY (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED
IN A TRANSACTION ORIGINALLY EXEMPT FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE TRANSFERRED IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, ANY U.S. PERSON EXCEPT
PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND ALL APPLICABLE STATE SECURITIES LAWS. TERMS USED ABOVE HAVE THE MEANINGS GIVEN TO THEM IN REGULATION S UNDER THE SECURITIES ACT. 

Each Definitive Security shall also bear the following additional legend: 

IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH
TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. 

(ii)    Upon any sale or transfer of a Transfer Restricted Security (including any Transfer Restricted
Security represented by a Global Security) pursuant to Rule 144 under the Securities Act, the Registrar shall permit the transferee thereof to exchange such Transfer Restricted Security for a certificated Security that does not bear the legend set
forth above and rescind any restriction on the transfer of such Transfer Restricted Security, if the transferor thereof certifies in writing to the Registrar that such sale or transfer was made in reliance on Rule 144 (such certification to be
in the form set forth on the reverse of the Security). 
 (iii)    After a transfer of any Initial
Securities or Private Exchange Securities pursuant to and during the period of the effectiveness of a Shelf Registration Statement with respect to such Initial Securities or Private Exchange Securities, as the case may be, all requirements
pertaining to legends on such Initial Security or such Private Exchange Security will cease to apply, the requirements requiring any such Initial Security or such Private Exchange Security issued to certain Holders be issued in global form will
cease to apply, and a certificated Initial Security or Private Exchange Security or an Initial Security or Private Exchange Security in global form, in each case without restrictive transfer legends, will be available to the transferee of the Holder
of such Initial Securities or Private Exchange Securities upon exchange of such transferring Holder’s certificated Initial Security or Private Exchange Security or directions to transfer such Holder’s interest in the Global Security, as
applicable. 

  
 10 

 (iv)    Upon the consummation of a Registered Exchange Offer
with respect to the Initial Securities, all requirements pertaining to such Initial Securities that Initial Securities issued to certain Holders be issued in global form will still apply with respect to Holders of such Initial Securities that do not
exchange their Initial Securities, and Exchange Securities in certificated or global form, in each case without the restricted securities legend set forth in Exhibit 1 hereto will be available to Holders that exchange such Initial Securities in
such Registered Exchange Offer. 
 (v)    Upon the consummation of a Private Exchange with respect to the
Initial Securities, all requirements pertaining to such Initial Securities that Initial Securities issued to certain Holders be issued in global form will still apply with respect to Holders of such Initial Securities that do not exchange their
Initial Securities, and Private Exchange Securities in global form with the global securities legend and the applicable restricted securities legend set forth in Exhibit 1 hereto will be available to Holders that exchange such Initial
Securities in such Private Exchange. 
 (f)    Cancellation or Adjustment of Global Security. At such time as all
beneficial interests in a Global Security have either been exchanged for Definitive Securities, redeemed, purchased or canceled, such Global Security shall be returned to the Depository for cancellation or retained and canceled by the Trustee. At
any time prior to such cancellation, if any beneficial interest in a Global Security is exchanged for certificated Securities, redeemed, purchased or canceled, the principal amount of Securities represented by such Global Security shall be reduced
and an adjustment shall be made on the books and records of the Trustee (if it is then the Securities Custodian for such Global Security) with respect to such Global Security, by the Trustee or the Securities Custodian, to reflect such reduction.

 (g)    No Obligation of the Trustee. 

(i)    The Trustee shall have no responsibility or obligation to any beneficial owner of a Global Security,
a member of, or a participant in the Depository or other Person with respect to the accuracy of the records of the Depository or its nominee or of any participant or member thereof, with respect to any ownership interest in the Securities or with
respect to the delivery to any participant, member, beneficial owner or other Person (other than the Depository) of any notice (including any notice of redemption) or the payment of any amount, under or with respect to such Securities. All notices
and communications to be given to the Holders and all payments to be made to Holders under the Securities shall be given or made only to or upon the order of the registered Holders (which shall be the Depository or its nominee in the case of a
Global Security). The rights of beneficial owners in any Global Security shall be exercised only through the Depository subject to the applicable rules and procedures of the Depository. The Trustee may rely and shall be fully protected in relying
upon information furnished by the Depository with respect to its members, participants and any beneficial owners. 

  
 11 

 (ii)    The Trustee shall have no obligation or duty to
monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Security (including any transfers between or among Depository
participants, members or beneficial owners in any Global Security) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by, the terms of
this Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof. 
 2.4
Definitive Securities. 
 (a)    A Global Security deposited with the Depository or with the Trustee as Securities
Custodian for the Depository pursuant to Section 2.1 shall be transferred to the beneficial owners thereof in the form of Definitive Securities in an aggregate principal amount equal to the principal amount of such Global Security, in exchange
for such Global Security, only if such transfer complies with Section 2.3 hereof and (i) the Depository notifies the Company that it is unwilling or unable to continue as Depository for such Global Security and the Depository fails to
appoint a successor depository or if at any time such Depository ceases to be a “clearing agency” registered under the Exchange Act, in either case, and a successor depository is not appointed by the Company within 90 days of such
notice (ii) an Event of Default has occurred and is continuing or (iii) the Company, in its sole discretion, notifies the Trustee in writing that it elects to cause the issuance of Definitive Securities under this Indenture. 

(b)    Any Global Security that is transferable to the beneficial owners thereof pursuant to this Section 2.4 shall
be surrendered by the Depository to the Trustee located at its principal corporate trust office in the Borough of Manhattan, The City of New York, to be so transferred, in whole or from time to time in part, without charge, and the Trustee shall
authenticate and deliver, upon such transfer of each portion of such Global Security, an equal aggregate principal amount of Definitive Securities of authorized denominations. Any portion of a Global Security transferred pursuant to this
Section 2.4 shall be executed, authenticated and delivered only in minimum denominations of $2,000 principal amount and any greater integral multiple of $1,000 thereof and registered in such names as the Depository shall direct. Any Definitive
Security delivered in exchange for an interest in a Transfer Restricted Security shall, except as otherwise provided by Section 2.3(e) hereof, bear the applicable restricted securities legend and definitive securities legend set forth in
Exhibit 1 hereto. 
 (c)    Subject to the provisions of Section 2.1(b) hereof, the registered Holder of a
Global Security shall be entitled to grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or
the Securities. 

  
 12 

 (d)    In the event of the occurrence of one of the events specified in
Section 2.4(a) hereof, the Company shall promptly make available to the Trustee a reasonable supply of Definitive Securities in definitive, fully registered form without interest coupons. In the event that such Definitive Securities are not
issued, the Company expressly acknowledges, with respect to the right of any Holder to pursue a remedy pursuant to Section 6.06 of this Indenture, the right of any beneficial owner of Securities to pursue such remedy with respect to the portion
of the Global Security that represents such beneficial owner’s Securities as if such Definitive Securities had been issued. 

  
 13 

 EXHIBIT 1 

to 
 RULE 144A/REGULATION S/IAI
APPENDIX 
 [FORM OF FACE OF INITIAL SECURITY] 

[Global Securities Legend] 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), NEW YORK, NEW YORK, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED
TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH
IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
 [[FOR REGULATION S GLOBAL SECURITY ONLY] UNTIL 40 DAYS AFTER THE LATER OF
COMMENCEMENT OR COMPLETION OF THE OFFERING, AN OFFER OR SALE OF SECURITIES WITHIN THE UNITED STATES BY A DEALER (AS DEFINED IN THE SECURITIES ACT) MAY VIOLATE THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT IF SUCH OFFER OR SALE IS MADE
OTHERWISE THAN IN ACCORDANCE WITH RULE 144A THEREUNDER.] 
 [Restricted Securities Legend for Securities offered otherwise than in Reliance
on Regulation S) 
 THIS SECURITY (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THIS SECURITY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. 

 THE HOLDER OF THIS SECURITY AGREES FOR THE BENEFIT OF THE COMPANY THAT (A) THIS SECURITY MAY
BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED, ONLY (I) IN THE UNITED STATES TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (II) OUTSIDE THE UNITED STATES IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 904 UNDER THE SECURITIES ACT, (III) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT
PROVIDED BY RULE 144 THEREUNDER (IF AVAILABLE) OR (IV) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH OF CASES (I) THROUGH (IV) IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE
UNITED STATES, AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER OF THIS SECURITY FROM IT OF THE RESALE RESTRICTIONS REFERRED TO IN (A) ABOVE. 

[Restricted Securities Legend for Securities Offered in Reliance on Regulation S.] 

THIS SECURITY (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION ORIGINALLY EXEMPT FROM REGISTRATION UNDER THE UNITED STATES
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE TRANSFERRED IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, ANY U.S. PERSON EXCEPT PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT AND ALL APPLICABLE STATE SECURITIES LAWS. TERMS USED ABOVE HAVE THE MEANINGS GIVEN TO THEM IN REGULATION S UNDER THE SECURITIES ACT. 

[Temporary Regulation S Global Security Legend] 

EXCEPT AS SET FORTH BELOW, BENEFICIAL OWNERSHIP INTERESTS IN THIS TEMPORARY REGULATION S GLOBAL SECURITY WILL NOT BE EXCHANGEABLE FOR
INTERESTS IN THE PERMANENT REGULATION S GLOBAL SECURITY OR ANY OTHER SECURITY REPRESENTING AN INTEREST IN THE SECURITIES REPRESENTED HEREBY WHICH DO NOT CONTAIN A LEGEND CONTAINING RESTRICTIONS ON TRANSFER, UNTIL THE EXPIRATION OF THE “40-DAY DISTRIBUTION COMPLIANCE PERIOD” (WITHIN THE MEANING OF RULE 903(b)(2) OF REGULATION S UNDER THE SECURITIES ACT) AND THEN ONLY UPON CERTIFICATION IN FORM REASONABLY SATISFACTORY TO THE TRUSTEE
THAT SUCH BENEFICIAL INTERESTS ARE OWNED EITHER BY NON-U.S. PERSONS OR U.S. PERSONS WHO PURCHASED SUCH INTERESTS IN A TRANSACTION THAT DID NOT REQUIRE REGISTRATION UNDER THE SECURITIES ACT. DURING SUCH 40-DAY DISTRIBUTION COMPLIANCE PERIOD, BENEFICIAL OWNERSHIP INTERESTS IN THIS TEMPORARY 

  
 2 

 
REGULATION S GLOBAL SECURITY MAY ONLY BE SOLD, PLEDGED OR TRANSFERRED (I) TO THE COMPANY, (II) OUTSIDE THE UNITED STATES IN A TRANSACTION IN ACCORDANCE WITH RULE 904 OF
REGULATION S UNDER THE SECURITIES ACT, OR (III) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH OF CASES (I) THROUGH (III) IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED
STATES. HOLDERS OF INTERESTS IN THIS TEMPORARY REGULATION S GLOBAL SECURITY WILL NOTIFY ANY PURCHASER OF THIS SECURITY OF THE RESALE RESTRICTIONS REFERRED TO ABOVE, IF THEN APPLICABLE. 

AFTER THE EXPIRATION OF THE DISTRIBUTION COMPLIANCE PERIOD BENEFICIAL INTERESTS IN THIS TEMPORARY REGULATION S GLOBAL SECURITY MAY BE
EXCHANGED FOR INTERESTS IN A RULE 144A GLOBAL SECURITY ONLY IF (1) SUCH EXCHANGE OCCURS IN CONNECTION WITH A TRANSFER OF THE SECURITIES IN COMPLIANCE WITH RULE 144A AND (2) THE TRANSFEROR OF THE REGULATION S GLOBAL SECURITY FIRST DELIVERS
TO THE TRUSTEE A WRITTEN CERTIFICATE (IN THE FORM ATTACHED TO THIS CERTIFICATE) TO THE EFFECT THAT THE REGULATION S GLOBAL SECURITY IS BEING TRANSFERRED (A) TO A PERSON WHO THE TRANSFEROR REASONABLY BELIEVES TO BE A QUALIFIED INSTITUTIONAL
BUYER WITHIN THE MEANING OF RULE 144A, (B) TO A PERSON WHO IS PURCHASING FOR ITS OWN ACCOUNT OR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, AND (C) IN ACCORDANCE WITH ALL
APPLICABLE SECURITIES LAWS OF THE STATES OF THE UNITED STATES AND OTHER JURISDICTIONS. 
 AFTER THE EXPIRATION OF THE DISTRIBUTION
COMPLIANCE PERIOD, BENEFICIAL INTERESTS IN THIS TEMPORARY REGULATION S GLOBAL SECURITY MAY BE EXCHANGED FOR INTERESTS IN AN IAI GLOBAL SECURITY ONLY IF (1) SUCH EXCHANGE OCCURS IN CONNECTION WITH A TRANSFER OF THE SECURITIES IN COMPLIANCE WITH
AN EXEMPTION UNDER THE SECURITIES ACT AND (2) THE TRANSFEROR OF THE REGULATION S GLOBAL SECURITY FIRST DELIVERS TO THE TRUSTEE A WRITTEN CERTIFICATE (IN THE FORM ATTACHED TO THIS CERTIFICATE) TO THE EFFECT THAT THE REGULATION S GLOBAL
SECURITY IS BEING TRANSFERRED (A) TO AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(A)(1),(2),(3) OR (7) UNDER THE SECURITIES ACT THAT, PRIOR TO SUCH TRANSFER, FURNISHED THE TRUSTEE A SIGNED LETTER CONTAINING CERTAIN
REPRESENTATIONS AND AGREEMENTS RELATING TO THE TRANSFER OF THIS SECURITY (THE FORM OF WHICH CAN BE OBTAINED FROM THE TRUSTEE) AND, IF SUCH TRANSFER IS IN RESPECT OF AN AGGREGATE PRINCIPAL AMOUNT OF SECURITIES LESS THAN $250,000, AN OPINION OF
COUNSEL ACCEPTABLE TO THE COMPANY THAT SUCH TRANSFER IS IN COMPLIANCE WITH THE SECURITIES ACT AND (B) IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE STATES OF THE UNITED STATES AND OTHER JURISDICTIONS. 

  
 3 

 BENEFICIAL INTERESTS IN A RULE 144A GLOBAL SECURITY OR AN IAI GLOBAL SECURITY MAY BE TRANSFERRED
TO A PERSON WHO TAKES DELIVERY IN THE FORM OF AN INTEREST IN THE REGULATION S GLOBAL SECURITY, WHETHER BEFORE OR AFTER THE EXPIRATION OF THE 40-DAY DISTRIBUTION COMPLIANCE PERIOD, ONLY IF THE TRANSFEROR FIRST
DELIVERS TO THE TRUSTEE A WRITTEN CERTIFICATE (IN THE FORM ATTACHED TO THIS CERTIFICATE) TO THE EFFECT THAT SUCH TRANSFER IS BEING MADE IN ACCORDANCE WITH RULE 903 OR 904 OF REGULATION S OR RULE 144 (IF AVAILABLE). 

[Definitive Securities Legend] 

IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH
TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. 

  
 4 

 [FORM OF INITIAL NOTE] 

No.     

$             [or such greater or lesser 

amount as may be indicated on the 

Schedule of Increases or Decreases 

in Global Security attached hereto]1 

6.375% Senior Notes due 2026 

Gulfport Energy Corporation, a Delaware corporation, promises to pay to
                    , or registered assigns, the principal sum of
                     dollars [(or such greater or lesser amount as may be indicated on the Schedule of Increases or Decreases in Global
Security attached hereto)]1 on January 15, 2026. 

Interest Payment Dates: January 15 and July 15. 

Record Dates: January 1 and July 1. 

Additional provisions of this Security are set forth on the other side of this Security. 

Dated:                     

 
  

	1 	Add if Global Security 

  
 5 

			
	GULFPORT ENERGY CORPORATION
		
	    By:	 	
                     
                    

		 	Name:
		 	Title:
		
	    By:	 	  

		 	Name:
		 	Title:
	
	 TRUSTEE’S CERTIFICATE OF

            AUTHENTICATION

	
	WELLS FARGO BANK, N.A.
	
	     as Trustee, certifies

    that this is one of

    the Securities referred

    to in the Indenture.

		
	    By:	 	  

		 	Authorized Signatory

  
 6 

 [FORM OF REVERSE SIDE OF INITIAL SECURITY] 

6.375% Senior Notes due 2026 
  

	1.	Interest 

 Gulfport Energy Corporation, a Delaware corporation (such corporation, and its
successors and assigns under the Indenture hereinafter referred to, being herein called the “Company”), promises to pay interest on the principal amount of this Security at the rate per annum shown above; provided,
however, that if a Registration Default (as defined in the Registration Rights Agreement) occurs, additional interest will accrue on this Security at a rate of 0.25% per annum (increasing by an additional 0.25% per annum with respect to each
subsequent 90-day period until all Registration Defaults have been cured, up to a maximum additional interest rate of 0.50%) from and including the date on which any such Registration Default shall occur to
but excluding the earlier of (x) the date on which all Registration Defaults have been cured and (y) the date on which no Securities are Transfer Restricted Securities. The Company will pay interest semiannually on January 15 and July
15 of each year, commencing January 15, 2018. Interest on the Securities will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from October 11, 2017. Interest will be computed on the basis of a 360-day year of twelve 30-day months. The Company will pay interest on overdue principal at the rate borne by this Security plus 1.0% per annum, and it will pay interest on
overdue installments of interest at the same rate to the extent lawful. 
  

	2.	Method of Payment 

 The Company will pay interest on the Securities (except defaulted
interest) to the Persons who are registered holders of Securities at the close of business on the January 1 or July 1 next preceding the interest payment date even if Securities are canceled after the record date and on or before the
interest payment date. Holders must surrender Securities to a Paying Agent to collect principal payments. The Company will pay principal and interest in money of the United States that at the time of payment is legal tender for payment of public and
private debts. Payments in respect of the Securities represented by a Global Security (including principal, premium and interest) will be made by wire transfer of immediately available funds to the accounts specified by The Depository Trust Company.
The Company will make all payments in respect of a certificated Security (including principal, premium and interest) by mailing a check to the registered address of each Holder thereof; provided, however, that payments on a
certificated Security will be made by wire transfer to a U.S. dollar account maintained by the payee with a bank in the United States if such Holder elects payment by wire transfer by giving written notice to the Trustee or the Paying Agent to such
effect designating such account no later than 30 days immediately preceding the relevant due date for payment (or such other date as the Trustee may accept in its discretion). 

  
 7 

	3.	Paying Agent and Registrar 

 Initially, Wells Fargo Bank, N.A., a national banking
association (the “Trustee”), will act as Paying Agent and Registrar. The Company may appoint and change any Paying Agent, Registrar or co-registrar without notice. The Company or any of its
domestically incorporated Wholly Owned Subsidiaries may act as Paying Agent, Registrar or co-registrar. 
  

	4.	Indenture 

 The Company issued the Securities under an Indenture dated as of
October 11, 2017, as such may be amended or supplemented from time to time (the “Indenture”), among the Company, the Subsidiary Guarantors and the Trustee. The terms of the Securities include those stated in the Indenture and
those made part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C. §§77aaa-77bbbb) as in effect on the date of the Indenture (the “Act”). Terms defined in the Indenture and not defined
herein have the meanings ascribed thereto in the Indenture. The Securities are subject to all such terms, and Securityholders are referred to the Indenture and the Act for a statement of those terms. 

The Securities are general unsecured obligations of the Company. The Company shall be entitled, subject to its compliance with
Section 4.03 of the Indenture, to issue Additional Securities pursuant to Section 2.13 of the Indenture. The Initial Securities issued on the Issue Date, any Additional Securities and all Exchange Securities or Private Exchange Securities
issued in exchange therefor will be treated as a single class for all purposes under the Indenture. The Indenture contains covenants that limit the ability of the Company and its subsidiaries to incur additional indebtedness; pay dividends or
distributions on, or redeem or repurchase capital stock; make investments; engage in transactions with affiliates; create liens on assets; transfer or sell assets; guarantee indebtedness; restrict dividends or other payments of subsidiaries; and
consolidate, merge or transfer all or substantially all of its assets and the assets of its subsidiaries. These covenants are subject to important exceptions and qualifications and are subject to termination upon the occurrence of certain events.

  

	5.	Optional Redemption 

 Except as set forth below and in Section 4.09(h) of the
Indenture, the Company shall not be entitled to redeem the Securities at its option. 
 (a)    On and after January 15,
2021, the Company shall be entitled, at its option, to redeem all or a portion of the Securities, at the redemption prices (expressed in percentages of principal amount on the redemption date), plus accrued interest to the redemption date (subject
to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date), if redeemed during the 12-month period commencing on January 15 of the years set
forth below: 
  

			
	 Period
	  	Redemption
Price
	 2021
	  	104.781%
	 2022
	  	103.188%
	 2023
	  	101.594%
	 2024 and thereafter
	  	100.000%

  
 8 

 (b)    In addition, any time prior to January 15, 2021, the Company shall be
entitled, at its option on one or more occasions, to redeem Securities (which includes Additional Securities, if any) in an aggregate principal amount not to exceed 35% of the aggregate principal amount of the Securities (which includes Additional
Securities, if any) issued prior to such date at a redemption price (expressed as a percentage of principal amount) of 106.375%, plus accrued and unpaid interest to the redemption date (subject to the right of Holders of record on the relevant
record date to receive interest due on the relevant interest payment date), with an amount equal to the net cash proceeds from one or more Qualifying Equity Offerings; provided, however, that (1) at least 65% of such aggregate
principal amount of Securities (which includes Additional Securities, if any) remains outstanding immediately after the occurrence of each such redemption (with Securities held, directly or indirectly, by the Company or its Affiliates being deemed
to be not outstanding for purposes of such calculation); and (2) each such redemption occurs within 90 days after the date of the related Qualifying Equity Offering. 

(c)    Prior to January 15, 2021, the Company shall be entitled, at its option, to redeem all or a portion of the
Securities at a redemption price equal to 100% of the principal amount of the Securities plus the Applicable Premium as of, and accrued and unpaid interest to, the redemption date (subject to the right of Holders on the relevant record date to
receive interest due on the relevant interest payment date). 
  

	6.	Notice of Redemption 

 Notice of redemption shall be sent at least 30 days but not more
than 60 days before the redemption date to each Holder of Securities to be redeemed at its registered address, except that redemption notices may be sent more than 60 days prior to the redemption date if the notice is issued in connection with a
defeasance of the Securities or a satisfaction and discharge of the Indenture. Any inadvertent defect in the notice of redemption, including an inadvertent failure to give notice, to any Holder selected for redemption shall not impair or affect the
validity of the redemption of any other Security redeemed in accordance with the provisions of the Indenture. Securities in denominations larger than $2,000 principal amount may be redeemed in part but only in whole multiples of $1,000. If money
sufficient to pay the redemption price of and accrued interest on all Securities (or portions thereof) to be redeemed on the redemption date is deposited with the Paying Agent on or before the redemption date and certain other conditions are
satisfied, on and after such date interest ceases to accrue on such Securities (or such portions thereof) called for redemption. 

  
 9 

 Notice of any redemption in connection with any Qualifying Equity Offering or other securities
offering or any other financing, or in connection with a transaction (or a series of related transactions) that constitute a Change of Control, may, at the Company’s discretion, be given prior to the completion thereof and be subject to one or
more conditions precedent, including completion of the related Qualifying Equity Offering, securities offering, financing or Change of Control. If a redemption is subject to satisfaction of one or more conditions precedent, the redemption date may
be delayed up to 10 Business Days; provided that if such conditions precedent are not satisfied within 10 Business Days of the proposed redemption date, such redemption shall not occur and the notice thereof shall be rescinded. 

 

	7.	Put Provisions 

 Upon a Change of Control, each Holder shall have the right to require
the Company to repurchase such Holder’s Securities at a purchase price equal to 101% of the principal amount of the Securities to be repurchased plus accrued interest, if any, to the date of repurchase (subject to the right of holders of record
on the relevant record date to receive interest due on the related interest payment date) as provided in, and subject to the terms of, the Indenture. 

The Indenture provides that, under certain circumstances, the Company shall be required to use the Net Available Cash from an Asset
Disposition to make an offer to Holders to purchase Securities at a purchase price of 100% of their principal amount plus accrued but unpaid interest, subject to the rights of Holders of record on the relevant record date to receive interest due on
the relevant interest payment date. 
  

	8.	Guarantee 

 The payment by the Company of the principal of, and premium and interest on,
the Securities is fully and unconditionally guaranteed on a joint and several senior basis by each of the Subsidiary Guarantors to the extent set forth in the Indenture. 
  

	9.	Denominations; Transfer; Exchange 

 The Securities are in registered form without coupons
in denominations of $2,000 principal amount and whole multiples of $1,000 in excess of $2,000. A Holder may transfer or exchange Securities in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish
appropriate endorsements or transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. The Registrar need not register the transfer of or exchange any Securities selected for redemption (except, in the case of a
Security to be redeemed in part, the portion of the Security not to be redeemed) or any Securities for a period of 15 days before a selection of Securities to be redeemed or 15 days before an interest payment date. 

  
 10 

	10.	Persons Deemed Owners 

 The registered Holder of this Security may be treated as the
owner of it for all purposes. 
  

	11.	Unclaimed Money 

 If money for the payment of principal or interest remains unclaimed for
two years, the Trustee or Paying Agent shall pay the money back to the Company at its request unless an abandoned property law designates another Person. After any such payment, Holders entitled to the money must look only to the Company and not to
the Trustee for payment. 
  

	12.	Discharge and Defeasance 

 Subject to certain conditions, the Company at any time shall
be entitled to terminate some or all of its obligations under the Securities and the Indenture if the Company deposits with the Trustee (x) cash in United States dollars or (y) cash in United States dollars, U.S. Government Obligations, or
a combination thereof, in such amounts as, in the aggregate, will be sufficient (in the case of clause (y), (A) in the opinion of a nationally recognized firm of independent public accountants or a nationally recognized investment banking firm, or
(B) if no such opinion in the immediately preceding clause (A) can be reasonably obtained, in the opinion of the chief financial officer of the Company) for the payment of principal of and interest on the Securities to redemption or
maturity, as the case may be. 
  

	13.	Amendment, Waiver 

 Subject to certain exceptions set forth in the Indenture,
(a) the Indenture and the Securities may be amended with the written consent of the Holders of at least a majority in principal amount outstanding of the Securities and (b) any default or noncompliance with any provision may be waived with
the written consent of the Holders of a majority in principal amount outstanding of the Securities. Subject to certain exceptions set forth in the Indenture, without the consent of any Securityholder, the Company, the Subsidiary Guarantors
and the Trustee shall be entitled to amend the Indenture or the Securities to cure any ambiguity, omission, defect or inconsistency, to comply with Article 5 of the Indenture, to provide for uncertificated Securities in addition to or in place
of certificated Securities, to add guarantees with respect to the Securities, including Subsidiary Guarantees, to secure the Securities, to add additional covenants or surrender rights and powers conferred on the Company or the Subsidiary
Guarantors, to comply with any requirement of the SEC in connection with qualifying the Indenture under the Act, to make any change that does not adversely affect the rights of any Securityholder in any material respect, to make amendments to
provisions of the Indenture relating to the transfer and legending of the Securities, to conform the text of the Securities to any provision of the “Description of the Notes” section of the Offering Memorandum to the extent that such
provision in the “Description of the Notes” was intended to be a verbatim recitation of a provision of the Indenture, the Securities or the Subsidiary Guarantees, or to reflect the issuance of Additional Securities. 

  
 11 

	14.	Defaults and Remedies 

 Under the Indenture, Events of Default include (a) default
for 30 days in payment of interest on the Securities; (b) default in payment of principal on the Securities at maturity, upon optional redemption, upon declaration of acceleration or otherwise, or failure by the Company to redeem or
purchase Securities when required; (c) failure by the Company to comply with other agreements in the Indenture or the Securities, in certain cases subject to notice and lapse of time; (d) certain accelerations (including failure to pay
within any grace period after final maturity) of other Indebtedness of the Company if the amount accelerated (or so unpaid) exceeds $50.0 million; (e) certain events of bankruptcy or insolvency with respect to the Company and the
Significant Subsidiaries; (f) certain judgments or decrees for the payment of money in excess of $50.0 million; and (g) certain defaults with respect to Subsidiary Guarantees. If an Event of Default occurs and is continuing, the
Trustee or the Holders of at least 25% in principal amount of the Securities may declare all the Securities to be due and payable immediately. Certain events of bankruptcy or insolvency with respect to the Company are Events of Default that will
result in the Securities being due and payable immediately upon the occurrence of such Events of Default. 
 Securityholders may not enforce
the Indenture or the Securities except as provided in the Indenture. The Trustee may refuse to enforce the Indenture or the Securities unless it receives indemnity or security satisfactory to it. Subject to certain limitations, Holders of a majority
in principal amount of the Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Securityholders notice of any continuing Default (except a Default in payment of principal or interest) if it
determines that withholding notice is in the interest of the Holders. 
  

	15.	Trustee Dealings with the Company 

 Subject to certain limitations imposed by the Act,
the Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of Securities and may otherwise deal with and collect obligations owed to it by the Company or its Affiliates and may otherwise deal with the
Company or its Affiliates with the same rights it would have if it were not Trustee. 
  

	16.	No Recourse Against Others 

 A director, officer, employee, incorporator or stockholder,
as such, of the Company or any Subsidiary Guarantor shall not have any liability for any obligations of the Company under the Securities or the Indenture or for any claim based on, in respect of, or by reason of such obligations or their creation.
By accepting a Security, each Securityholder waives and releases all such liability. The waiver and release are part of the consideration for the issuance of the Securities. 

  
 12 

	17.	Authentication 

 This Security shall not be valid until an authorized signatory of the
Trustee (or an authenticating agent) manually signs the certificate of authentication on the other side of this Security. 
  

	18.	Abbreviations 

 Customary abbreviations may be used in the name of a Securityholder or an
assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the entireties), JT TEN (=joint tenants with rights of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act). 

 

	19.	CUSIP Numbers 

 Pursuant to a recommendation promulgated by the Committee on Uniform
Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Securities and has directed the Trustee to use CUSIP numbers in notices of redemption as a convenience to Securityholders. No representation is made as to
the accuracy of such numbers either as printed on the Securities or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 

 

	20.	Holders’ Compliance with Registration Rights Agreement. 

 Each Holder of a Security,
by acceptance hereof, acknowledges and agrees to the provisions of the Registration Rights Agreement, including the obligations of the Holders with respect to a registration and the indemnification of the Company to the extent provided therein. 

 

	21.	Governing Law. 

 THIS SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF NEW YORK. 
 The Company will furnish to any Securityholder upon written request and without charge to the
Securityholder a copy of the Indenture which has in it the text of this Security in larger type. Requests may be made to: 
 Gulfport Energy
Corporation 
 3001 Quail Springs Pkwy. 

Oklahoma City, OK 73134 
 Attention:
Chief Financial Officer 
 Facsimile: (405) 252-4901 

  
 13 

 ASSIGNMENT FORM 

To assign this Security, fill in the form below: 
 I or we
assign and transfer this Security to 
 (Print or type assignee’s name, address and zip code) 

(Insert assignee’s soc. sec. or tax I.D. No.) 

and irrevocably appoint                      agent to
transfer this Security on the books of the Company. The agent may substitute another to act for him. 
  

			
	  

		
	    Date:                                 
       	  	                                      
  Your Signature:                                    
                                         
   
	
	  

 Sign exactly as your name appears on the other side of this Security. 

In connection with any transfer of any of the Securities evidenced by this certificate, the undersigned confirms that such Securities are being transferred in
accordance with its terms: 
 CHECK ONE BOX BELOW 
  

					
	(1)	  	☐	  	to the Company; or
			
	(2)	  	☐	  	pursuant to an effective registration statement under the Securities Act of 1933; or
			
	(3)	  	☐	  	inside the United States to a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act of 1933) that purchases for its own account or for the account of a qualified institutional buyer to whom
notice is given that such transfer is being made in reliance on Rule 144A, in each case pursuant to and in compliance with Rule 144A under the Securities Act of 1933; or
			
	(4)	  	☐	  	outside the United States in an offshore transaction within the meaning of Regulation S under the Securities Act in compliance with Rule 904 under the Securities Act of 1933; or
			
	(5)	  	☐	  	pursuant to the exemption from registration provided by Rule 144 under the Securities Act of 1933.
			
	(6)	  	☐	  	pursuant to any other exemption from registration under the Securities Act of 1933.

  
 14 

 Unless one of the boxes is checked, the Trustee will refuse to register any of the Securities
evidenced by this certificate in the name of any person other than the registered holder thereof; provided, however, that if box (4) is checked, the Trustee shall be entitled to require, prior to registering any such transfer of
the Securities, such legal opinions, certifications and other information as the Company has reasonably requested to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act of 1933, such as the exemption provided by Rule 144 under such Act. 
  

					
	  
	 		 	
	 Signature
	 		 	
			
	Signature Guarantee:	 		 	
			
	  
	 		 	  

	Signature must be guaranteed	 		 	Signature

 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the
Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to,
or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 

  
 15 

 TO BE COMPLETED BY PURCHASER IF (3) ABOVE IS CHECKED. 

The undersigned represents and warrants that it is purchasing this Security for its own account or an account with respect to which it
exercises sole investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act of 1933, and is aware that the sale to it is being made in reliance on
Rule 144A and acknowledges that it has received such information regarding the Company as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is
relying upon the undersigned’s foregoing representations in order to claim the exemption from registration provided by Rule 144A. 
  

							
	Dated:                                     
                                         
      	 		 	  

		 		 	Notice:	 	To be executed by an executive officer

  
 16 

 [TO BE ATTACHED TO GLOBAL SECURITIES] 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY 

The following increases or decreases in this Global Security have been made: 

 

									
	 Date of

Exchange
	 	Amount of decrease in
Principal amount of this
Global Security	 	 Amount of increase in

Principal amount of this
 Global
Security
	 	 Principal amount of this

Global Security
 following such
decrease
 or increase)
	 	 Signature of authorized

officer of Trustee or
 Securities
Custodian

		 		 		 		 	
		 		 		 		 	
		 		 		 		 	

  
 17 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Security purchased by the Company pursuant to Section 4.06 or 4.09 of the Indenture, check the
box:  ☐ 
 If you want to elect to have only part of this Security purchased by the Company pursuant to Section 4.06 or
4.09 of the Indenture, state the amount in principal amount: $ 
  

					
	 Dated:
                                    
	  	Your Signature:                                
                                         
      
		  	 (Sign exactly as your name appears

on the other side of this Security.)

	
	 Signature Guarantee:
                                         
                                         
                                         
              

	(Signature must be guaranteed)

 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the
Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to,
or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 

  
 18 

 EXHIBIT A 

[FORM OF FACE OF EXCHANGE SECURITY 

OR PRIVATE EXCHANGE SECURITY]*/**/ 

 
  

	*/	If the Security is to be issued in global form add the Global Securities Legend from Exhibit 1 to Appendix A, the bracketed language in two places on the face of the Security, and the attachment from such Exhibit 1
captioned “[TO BE ATTACHED TO GLOBAL SECURITIES] - SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY”. 

	**/	If the Security is a Private Exchange Security issued in a Private Exchange to an Initial Purchaser holding an unsold portion of its initial allotment, add the Restricted Securities Legend from Exhibit 1 to Appendix A
and replace the Assignment Form included in this Exhibit A with the Assignment Form included in such Exhibit 1. 

 [FORM OF EXCHANGE NOTE] 

No.      

$         [or such greater or lesser 

amount as may be indicated on the 

Schedule of Increases or Decreases 

in Global Security attached hereto]2 

6.375% Senior Notes due 2026 

Gulfport Energy Corporation, a Delaware corporation, promises to pay to
                    , or registered assigns, the principal sum of
                     dollars [(or such greater or lesser amount as may be indicated on the Schedule of Increases or
Decreases in Global Security attached hereto)]2 on January 15, 2026. 

Interest Payment Dates: January 15 and July 15. 

Record Dates: January 1 and July 1. 

Additional provisions of this Security are set forth on the other side of this Security. 

Dated:                      

 

			
	GULFPORT ENERGY CORPORATION
		
	    By:	 	  

		 	Name:
		 	Title:
		
	    By:	 	  

		 	Name:
		 	Title:

  
  

	2 	Add if Global Security 

  
 2 

			
	TRUSTEE’S CERTIFICATE OF             AUTHENTICATION
	
	WELLS FARGO BANK, N.A.
	
	       as Trustee, certifies

      that this is one of

      the Securities referred

      to in the Indenture.

		
	      By:	 	  

		 	Authorized Signatory

  
 3 

 [FORM OF REVERSE SIDE OF EXCHANGE SECURITY 

OR PRIVATE EXCHANGE SECURITY] 

6.375% Senior Notes due 2026 
  

	1.	Interest 

 Gulfport Energy Corporation, a Delaware corporation (such corporation,
and its successors and assigns under the Indenture hereinafter referred to, being herein called the “Company”), promises to pay interest on the principal amount of this Security at the rate per annum shown above[; provided,
however, that if a Registration Default (as defined in the Registration Rights Agreement) occurs, additional interest will accrue on this Security at a rate of 0.25% per annum (increasing by an additional 0.25% per annum with respect to each
subsequent 90-day period until all Registration Defaults have been cured, up to a maximum additional interest rate of 0.50%) from and including the date on which any such Registration Default shall occur to
but excluding the earlier of (x) the date on which all Registration Defaults have been cured and (y) the date on which no Initial Securities are Transfer Restricted Securities.]3 The
Company will pay interest semiannually on January 15 and July 15 of each year, commencing January 15, 2018. Interest on the Securities will accrue from the most recent date to which interest has been paid or, if no interest has been
paid, from October 11, 2017. Interest will be computed on the basis of a 360-day year of twelve 30-day months. The Company will pay interest on overdue principal at
the rate borne by this Security plus 1.0% per annum, and it will pay interest on overdue installments of interest at the same rate to the extent lawful. 
  

	2.	Method of Payment 

 The Company will pay interest on the Securities (except defaulted
interest) to the Persons who are registered holders of Securities at the close of business on the January 1 or July 1 next preceding the interest payment date even if Securities are canceled after the record date and on or before the
interest payment date. Holders must surrender Securities to a Paying Agent to collect principal payments. The Company will pay principal and interest in money of the United States that at the time of payment is legal tender for payment of public and
private debts. Payments in respect of the Securities represented by a Global Security (including principal, premium and interest) will be made by wire transfer of immediately available funds to the accounts specified by The Depository Trust Company.
The Company will make all payments in respect of a certificated Security (including principal, premium and interest) by mailing a check to the registered address of each Holder thereof; provided, however, that payments on a
certificated Security will be made by wire transfer to a U.S. dollar account maintained by the payee with a bank in the United States if such Holder elects payment by wire transfer by giving written notice to the Trustee or the Paying Agent to such
effect designating such account no later than 30 days immediately preceding the relevant due date for payment (or such other date as the Trustee may accept in its discretion). 

 
  

	3 	Insert if at the date of issuance of the Exchange Security or Private Exchange Security (as the case may be) any Registration Default has occurred with respect to the related Initial Securities during the interest
period in which such date of issuance occurs. 

  
 4 

	3.	Paying Agent and Registrar 

 Initially, Wells Fargo Bank, N.A., a national banking
association (the “Trustee”), will act as Paying Agent and Registrar. The Company may appoint and change any Paying Agent, Registrar or co-registrar without notice. The Company or any of its
domestically incorporated Wholly Owned Subsidiaries may act as Paying Agent, Registrar or co-registrar. 
  

	4.	Indenture 

 The Company issued the Securities under an Indenture dated as of
October 11, 2017, as such may be amended or supplemented from time to time (the “Indenture”), among the Company, the Subsidiary Guarantors and the Trustee. The terms of the Securities include those stated in the Indenture and
those made part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C. §§77aaa-77bbbb) as in effect on the date of the Indenture (the “Act”). Terms defined in the Indenture and not defined
herein have the meanings ascribed thereto in the Indenture. The Securities are subject to all such terms, and Securityholders are referred to the Indenture and the Act for a statement of those terms. 

The Securities are general unsecured obligations of the Company. The Company shall be entitled, subject to its compliance with
Section 4.03 of the Indenture, to issue Additional Securities pursuant to Section 2.13 of the Indenture. The Initial Securities issued on the Issue Date, any Additional Securities and all Exchange Securities or Private Exchange Securities
issued in exchange therefor will be treated as a single class for all purposes under the Indenture. The Indenture contains covenants that limit the ability of the Company and its subsidiaries to incur additional indebtedness; pay dividends or
distributions on, or redeem or repurchase capital stock; make investments; engage in transactions with affiliates; create liens on assets; transfer or sell assets; guarantee indebtedness; restrict dividends or other payments of subsidiaries; and
consolidate, merge or transfer all or substantially all of its assets and the assets of its subsidiaries. These covenants are subject to important exceptions and qualifications and are subject to termination upon the occurrence of certain
events. 
  

	5.	Optional Redemption 

 Except as set forth below and in Section 4.09(h) of the
Indenture, the Company shall not be entitled to redeem the Securities at its option. 
 (a)    On and after
January 15, 2021, the Company shall be entitled, at its option, to redeem all or a portion of the Securities, at the redemption prices (expressed in percentages of principal amount on the redemption date), plus accrued interest to the
redemption date (subject to the right of Holders of record on the relevant record date to 

  
 5 

 
receive interest due on the relevant interest payment date), if redeemed during the 12-month period commencing on January 15 of the years set forth
below: 
  

			
	 Period
	  	Redemption
Price
	 2021
	  	104.781%
	 2022
	  	103.188%
	 2023
	  	101.594%
	 2024 and thereafter
	  	100.000%

 (b)    In addition, any time prior to January 15, 2021, the Company shall be
entitled, at its option on one or more occasions, to redeem Securities (which includes Additional Securities, if any) in an aggregate principal amount not to exceed 35% of the aggregate principal amount of the Securities (which includes Additional
Securities, if any) issued prior to such date at a redemption price (expressed as a percentage of principal amount) of 106.375%, plus accrued and unpaid interest to the redemption date (subject to the right of Holders of record on the relevant
record date to receive interest due on the relevant interest payment date), with an amount equal to the net cash proceeds from one or more Qualifying Equity Offerings; provided, however, that (1) at least 65% of such aggregate
principal amount of Securities (which includes Additional Securities, if any) remains outstanding immediately after the occurrence of each such redemption (with Securities held, directly or indirectly, by the Company or its Affiliates being deemed
to be not outstanding for purposes of such calculation); and (2) each such redemption occurs within 90 days after the date of the related Qualifying Equity Offering. 

(c)    Prior to January 15, 2021, the Company shall be entitled, at its option, to redeem all or a portion of the
Securities at a redemption price equal to 100% of the principal amount of the Securities plus the Applicable Premium as of, and accrued and unpaid interest to, the redemption date (subject to the right of Holders on the relevant record date to
receive interest due on the relevant interest payment date). 
  

	6.	Notice of Redemption 

 Notice of redemption shall be sent at least 30 days but not more
than 60 days before the redemption date to each Holder of Securities to be redeemed at its registered address, except that redemption notices may be sent more than 60 days prior to the redemption date if the notice is issued in connection with a
defeasance of the Securities or a satisfaction and discharge of the Indenture. Any inadvertent defect in the notice of redemption, including an inadvertent failure to give notice, to any Holder selected for redemption shall not impair or affect the
validity of the redemption of any other Security redeemed in accordance with the provisions of the Indenture. Securities in denominations larger than $2,000 principal amount may be redeemed in part but only in whole multiples of $1,000. If money
sufficient to pay the redemption price of and accrued interest on all Securities (or portions thereof) to be redeemed on the redemption date is deposited with the Paying Agent on or before the redemption date and certain other conditions are
satisfied, on and after such date interest ceases to accrue on such Securities (or such portions thereof) called for redemption. 

  
 6 

 Notice of any redemption in connection with any Qualifying Equity Offering or other securities
offering or any other financing, or in connection with a transaction (or a series of related transactions) that constitute a Change of Control, may, at the Company’s discretion, be given prior to the completion thereof and be subject to one or
more conditions precedent, including completion of the related Qualifying Equity Offering, securities offering, financing or Change of Control. If a redemption is subject to satisfaction of one or more conditions precedent, the redemption date may
be delayed up to 10 Business Days; provided that if such conditions precedent are not satisfied within 10 Business Days of the proposed redemption date, such redemption shall not occur and the notice thereof shall be rescinded. 

 

	7.	Put Provisions 

 Upon a Change of Control, each Holder shall have the right to require
the Company to repurchase such Holder’s Securities at a purchase price equal to 101% of the principal amount of the Securities to be repurchased plus accrued interest, if any, to the date of repurchase (subject to the right of holders of record
on the relevant record date to receive interest due on the related interest payment date) as provided in, and subject to the terms of, the Indenture. 

The Indenture provides that, under certain circumstances, the Company shall be required to use the Net Available Cash from an Asset
Disposition to make an offer to Holders to purchase Securities at a purchase price of 100% of their principal amount plus accrued but unpaid interest, subject to the rights of Holders of record on the relevant record date to receive interest due on
the relevant interest payment date. 
  

	8.	Guarantee 

 The payment by the Company of the principal of, and premium and interest on,
the Securities is fully and unconditionally guaranteed on a joint and several senior basis by each of the Subsidiary Guarantors to the extent set forth in the Indenture. 
  

	9.	Denominations; Transfer; Exchange 

 The Securities are in registered form without coupons
in denominations of $2,000 principal amount and whole multiples of $1,000 in excess of $2,000. A Holder may transfer or exchange Securities in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish
appropriate endorsements or transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. The Registrar need not register the transfer of or exchange any Securities selected for redemption (except, in the case of a
Security to be redeemed in part, the portion of the Security not to be redeemed) or any Securities for a period of 15 days before a selection of Securities to be redeemed or 15 days before an interest payment date. 

  
 7 

	10.	Persons Deemed Owners 

 The registered Holder of this Security may be treated as the
owner of it for all purposes. 
  

	11.	Unclaimed Money 

 If money for the payment of principal or interest remains unclaimed for
two years, the Trustee or Paying Agent shall pay the money back to the Company at its request unless an abandoned property law designates another Person. After any such payment, Holders entitled to the money must look only to the Company and not to
the Trustee for payment. 
  

	12.	Discharge and Defeasance 

 Subject to certain conditions, the Company at any time shall
be entitled to terminate some or all of its obligations under the Securities and the Indenture if the Company deposits with the Trustee (x) cash in United States dollars or (y) cash in United States dollars, U.S. Government Obligations, or
a combination thereof, in such amounts as, in the aggregate, will be sufficient (in the case of clause (y), (A) in the opinion of a nationally recognized firm of independent public accountants or a nationally recognized investment banking firm, or
(B) if no such opinion in the immediately preceding clause (A) can be reasonably obtained, in the opinion of the chief financial officer of the Company) for the payment of principal of and interest on the Securities to redemption or
maturity, as the case may be. 
  

	13.	Amendment, Waiver 

 Subject to certain exceptions set forth in the Indenture,
(a) the Indenture and the Securities may be amended with the written consent of the Holders of at least a majority in principal amount outstanding of the Securities and (b) any default or noncompliance with any provision may be waived with
the written consent of the Holders of a majority in principal amount outstanding of the Securities. Subject to certain exceptions set forth in the Indenture, without the consent of any Securityholder, the Company, the Subsidiary Guarantors
and the Trustee shall be entitled to amend the Indenture or the Securities to cure any ambiguity, omission, defect or inconsistency, to comply with Article 5 of the Indenture, to provide for uncertificated Securities in addition to or in place
of certificated Securities, to add guarantees with respect to the Securities, including Subsidiary Guarantees, to secure the Securities, to add additional covenants or surrender rights and powers conferred on the Company or the Subsidiary
Guarantors, to comply with any requirement of the SEC in connection with qualifying the Indenture under the Act, to make any change that does not adversely affect the rights of any Securityholder in any material respect, to make amendments to
provisions of the Indenture relating to the transfer and legending of the Securities, to conform the text of the Securities to any provision of the “Description of the Notes” section of the Offering Memorandum to the extent that such
provision in the “Description of the Notes” was intended to be a verbatim recitation of a provision of the Indenture, the Securities or the Subsidiary Guarantees, or to reflect the issuance of Additional Securities. 

  
 8 

	14.	Defaults and Remedies 

 Under the Indenture, Events of Default include (a) default
for 30 days in payment of interest on the Securities; (b) default in payment of principal on the Securities at maturity, upon optional redemption, upon declaration of acceleration or otherwise, or failure by the Company to redeem or
purchase Securities when required; (c) failure by the Company to comply with other agreements in the Indenture or the Securities, in certain cases subject to notice and lapse of time; (d) certain accelerations (including failure to pay
within any grace period after final maturity) of other Indebtedness of the Company if the amount accelerated (or so unpaid) exceeds $50.0 million; (e) certain events of bankruptcy or insolvency with respect to the Company and the
Significant Subsidiaries; (f) certain judgments or decrees for the payment of money in excess of $50.0 million; and (g) certain defaults with respect to Subsidiary Guarantees. If an Event of Default occurs and is continuing, the
Trustee or the Holders of at least 25% in principal amount of the Securities may declare all the Securities to be due and payable immediately. Certain events of bankruptcy or insolvency with respect to the Company are Events of Default that will
result in the Securities being due and payable immediately upon the occurrence of such Events of Default. 
 Securityholders may not enforce
the Indenture or the Securities except as provided in the Indenture. The Trustee may refuse to enforce the Indenture or the Securities unless it receives indemnity or security satisfactory to it. Subject to certain limitations, Holders of a majority
in principal amount of the Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Securityholders notice of any continuing Default (except a Default in payment of principal or interest) if it
determines that withholding notice is in the interest of the Holders. 
  

	15.	Trustee Dealings with the Company 

 Subject to certain limitations imposed by the Act,
the Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of Securities and may otherwise deal with and collect obligations owed to it by the Company or its Affiliates and may otherwise deal with the
Company or its Affiliates with the same rights it would have if it were not Trustee. 
  

	16.	No Recourse Against Others 

 A director, officer, employee, incorporator or stockholder,
as such, of the Company or any Subsidiary Guarantor shall not have any liability for any obligations of the Company under the Securities or the Indenture or for any claim based on, in respect of, or by reason of such obligations or their creation.
By accepting a Security, each Securityholder waives and releases all such liability. The waiver and release are part of the consideration for the issuance of the Securities. 

  
 9 

	17.	Authentication 

 This Security shall not be valid until an authorized signatory of the
Trustee (or an authenticating agent) manually signs the certificate of authentication on the other side of this Security. 
  

	18.	Abbreviations 

 Customary abbreviations may be used in the name of a Securityholder or an
assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the entireties), JT TEN (=joint tenants with rights of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act). 

 

	19.	CUSIP Numbers 

 Pursuant to a recommendation promulgated by the Committee on Uniform
Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Securities and has directed the Trustee to use CUSIP numbers in notices of redemption as a convenience to Securityholders. No representation is made as to
the accuracy of such numbers either as printed on the Securities or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 

 

	20.	Holders’ Compliance with Registration Rights Agreement. 

 Each Holder of a Security,
by acceptance hereof, acknowledges and agrees to the provisions of the Registration Rights Agreement, including the obligations of the Holders with respect to a registration and the indemnification of the Company to the extent provided therein. 

 

	21.	Governing Law. 

 THIS SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF NEW YORK. 
 The Company will furnish to any Securityholder upon written request and without charge to the
Securityholder a copy of the Indenture which has in it the text of this Security in larger type. Requests may be made to: 
 Gulfport Energy
Corporation 
 3001 Quail Springs Pkwy. 

Oklahoma City, OK 73134 
 Attention:
Chief Financial Officer 
 Facsimile: (405) 252-4901 

  
 10 

 ASSIGNMENT FORM 

To assign this Security, fill in the form below: 
 I or we
assign and transfer this Security to 
 (Print or type assignee’s name, address and zip code) 

(Insert assignee’s soc. sec. or tax I.D. No.) 

and irrevocably appoint                      agent to
transfer this Security on the books of the Company. The agent may substitute another to act for him. 
  

			
	  

		
	    Date:                                 
        	  	                                      
  Your Signature:                                  
                                         
              
	
	  

 Sign exactly as your name appears on the other side of this Security. 

  
 11 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Security purchased by the Company pursuant to Section 4.06 or 4.09 of the Indenture, check the
box:  ☐ 
 If you want to elect to have only part of this Security purchased by the Company pursuant to Section 4.06 or
4.09 of the Indenture, state the amount in principal amount: $         
  

			
	
Dated:                     
                                         
    
	  	Your
Signature:                                       
                                   
		  	 (Sign exactly as your name appears

on the other side of this Security.)

	
	
Signature Guarantee:                  
                                         
                                         
                                         
                     

	(Signature must be guaranteed)

 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar,
which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in
substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 

 EXHIBIT 2 to Rule 144A/REGULATION S/IAI APPENDIX 

Form of 
 Transferee Letter of
Representation 
 Gulfport Energy Corporation 
 In care of

 Wells Fargo Bank, N.A. 
 1445 Ross Avenue, Suite 4300 

Dallas, Texas 75202-2812 
 MAC:
T9216-430 
 Attention: Corporate, Municipal and Escrow Services 

Telecopier No.: 469-729-7638 

Ladies and Gentlemen: 
 This certificate is
delivered to request a transfer of $[        ] principal amount of the 6.375% Senior Notes due 2026 (the “Securities”) of Gulfport Energy Corporation (the “Company”). 

Upon transfer, the Securities would be registered in the name of the new beneficial owner as follows: 

 

			
	Name:                                     
                           	  	
		
	Address:                                     
                        	  	
		
	Taxpayer ID
Number:                                       
 	  	

 The undersigned represents and warrants to you that: 

1. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act of
1933, as amended (the “Securities Act”)), purchasing for our own account or for the account of such an institutional “accredited investor” at least $250,000 principal amount of the Securities, and we are acquiring the
Securities not with a view to, or for offer or sale in connection with, any distribution in violation of the Securities Act. We have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks
of our investment in the Securities, and we invest in or purchase securities similar to the Securities in the normal course of our business. We, and any accounts for which we are acting, are each able to bear the economic risk of our or its
investment. 

 2. We understand that the Securities have not been registered under the Securities Act and,
unless so registered, may not be sold except as permitted in the following sentence. We agree on our own behalf and on behalf of any investor account for which we are purchasing Securities to offer, sell or otherwise transfer such Securities prior
to the date that is two years after the later of the date of original issue and the last date on which the Company or any affiliate of the Company was the owner of such Securities (or any predecessor thereto) (the “Resale Restriction
Termination Date”) only (i) to the Company, (ii) in the United States to a person whom the seller reasonably believes is a qualified institutional buyer in a transaction meeting the requirements of Rule 144A, (iii) to an
institutional “accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act that is an institutional accredited investor purchasing for its own account or for the account of an institutional
accredited investor, in each case in a minimum principal amount of the Securities of $250,000, (iv) outside the United States in a transaction complying with the provisions of Rule 904 under the Securities Act, (v) pursuant to an exemption from
registration under the Securities Act provided by Rule 144 (if available) or (vi) pursuant to an effective registration statement under the Securities Act, in each of cases (i) through (vi) subject to any requirement of law that the
disposition of our property or the property of such investor account or accounts be at all times within our or their control and in compliance with any applicable state securities laws. The foregoing restrictions on resale will not apply subsequent
to the Resale Restriction Termination Date. If any resale or other transfer of the Securities is proposed to be made pursuant to clause (iii) above prior to the Resale Restriction Termination Date, the transferor shall deliver a letter from the
transferee substantially in the form of this letter to the Company and the Trustee, which shall provide, among other things, that the transferee is an institutional “accredited investor” within the meaning of Rule 501(a)(1), (2), (3)
or (7) under the Securities Act and that it is acquiring such Securities for investment purposes and not for distribution in violation of the Securities Act. Each purchaser acknowledges that the Company and the Trustee reserve the right prior
to the offer, sale or other transfer prior to the Resale Restriction Termination Date of the Securities pursuant to clause (iii), (iv) or (v) above to require the delivery of an opinion of counsel, certifications or other information
satisfactory to the Company and the Trustee. 
  

			
	TRANSFEREE:                                  
                        ,
	
	
by:                      
                                         
   

  
 2 

 EXHIBIT B 

[FORM OF GUARANTY AGREEMENT] 

[                    ] SUPPLEMENTAL
INDENTURE 
 [                    ]
SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of [            ], 20[    ] among Gulfport Energy Corporation, a Delaware
corporation (the “Company”), the New Subsidiary Guarantors (as defined below), and Wells Fargo Bank, N.A., a national banking association, as trustee under the Indenture referred to below (the
“Trustee”). 
 WITNESSETH: 

WHEREAS, the Company and the Subsidiary Guarantors have heretofore executed and delivered to the Trustee an indenture, dated as of
October 11, 2017 ([as supplemented by                     ,] the “Indenture”), providing for the issuance of 6.375%
Senior Notes due 2026 (the “Securities”); 
 WHEREAS, on October 11, 2017, the Company issued $450,000,000 in
principal amount of Securities; 
 WHEREAS, pursuant to Section [4.11][5.01(b)] of the Indenture, the Company is required to
cause each of the subsidiaries of the Company listed on Annex A (the “New Subsidiary Guarantors”) to execute and deliver to the Trustee this Supplemental Indenture; 

WHEREAS, pursuant to Section 9.01[2][4], the Company wishes to amend, without the consent of any Securityholder, the
Indenture to [add Subsidiary Guarantors][provide for the assumption by a successor corporation of the obligations of any Subsidiary Guarantor]; and 

WHEREAS, pursuant to Section [4.11][5.01(b)] of the Indenture, the Trustee, the Company and each of the New Subsidiary
Guarantors are authorized to execute and deliver this Supplemental Indenture. 
 NOW, THEREFORE, in consideration of the foregoing and for
other good and valuable consideration, the receipt of which is hereby acknowledged, the Company, each of the New Subsidiary Guarantors and the Trustee mutually covenant and agree for the equal and ratable benefit of the holders of the Securities as
follows: 
 1.     Definitions; Construction. 

(a)    Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture. 

(b)    For all purposes of this Supplemental Indenture, except as otherwise herein expressly provided or unless the
context otherwise requires: (i) the terms and expressions used herein shall have the same meanings as corresponding terms and expressions used in the Indenture; and (ii) the words “herein,” “hereof” and
“hereby” and other words of similar import used in this Supplemental Indenture refer to this Supplemental Indenture as a whole and not to any particular section hereof. 

 2.    The New Subsidiary Guarantors. 

(a)    In accordance with Sections [4.11][5.01(b)] and 9.01[(2)][(4)] of the Indenture, each New Subsidiary
Guarantor by its signature below hereby becomes a party to the Indenture as a Subsidiary Guarantor and unconditionally and irrevocably guarantees, jointly and severally, to each Holder and to the Trustee and its successors and assigns (i) the
full and punctual payment of principal of and interest on the Securities when due, whether at maturity, by acceleration, by redemption or otherwise, and all other monetary obligations of the Company under the Indenture and the Securities and
(ii) the full and punctual performance within applicable grace periods of all other Guaranteed Obligations, in each case on the same terms and conditions as applicable to the other Subsidiary Guarantors set forth in the Indenture, including
those terms and conditions set forth in Article 10 of the Indenture, with the same force and effect as if originally named therein as a Subsidiary Guarantor. 

(b)    Each New Subsidiary Guarantor hereby agrees to all of the terms and conditions of the Indenture applicable to it as
a Subsidiary Guarantor thereunder. Each reference to a “Subsidiary Guarantor” in the Indenture shall be deemed to include each New Subsidiary Guarantor. 

3.    Governing Law. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK BUT WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 

4.    Trustee Makes No Representation. The recitals herein contained are made by the Company and the
New Subsidiary Guarantors and not by the Trustee, and the Trustee assumes no responsibility for the correctness thereof. The Trustee makes no representation as to the validity or sufficiency of this Supplemental Indenture. 

5.    Counterparts. The parties may sign any number of copies of this Supplemental Indenture.
Each signed copy shall be an original, but all of them together represent the same agreement. One signed copy is enough to prove this Supplemental Indenture. The exchange of copies of this Supplemental Indenture and of signature pages by facsimile
or PDF transmission shall constitute effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of the original Supplemental Indenture for all purposes. Signatures of the parties hereto
transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes. 

6.    Effect of Headings. The Section headings herein are for convenience only and shall not effect
the construction thereof. 
 [SIGNATURE PAGE FOLLOWS] 

  
 2 

 IN WITNESS WHEREOF, the parties have caused this
[                    ] Supplemental Indenture to be duly executed as of the date first written above. 

 

			
	GULFPORT ENERGY CORPORATION
		
	    By:	 	  

		 	Name:
		 	Title:
	
	[NEW SUBSIDIARY GUARANTOR[S]]
		
	    By:	 	  

		 	Name:
		 	Title:
	
	[TRUSTEE]
		
	    By:	 	  

		 	Name:
		 	Title:

  
 [Signature Page to
Guaranty Agreement] 

 Annex A 

New Subsidiary Guarantor

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