Document:

EX-4.5

 Exhibit 4.5 

CARBONITE, INC. 
 and

 AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC 

as Trustee 
 Guaranteed
to the extent set forth therein by the Guarantors named herein. 
 INDENTURE 

dated as of 
 [—] 

							
	 Article I DEFINITIONS AND INCORPORATION
	  	 	1	  
			
	 Section 1.1
	 	 Certain Definitions
	  	 	1	  
			
	 Section 1.2
	 	 Other Definitions
	  	 	4	  
			
	 Section 1.3
	 	 Incorporation by Reference of Trust Indenture Act
	  	 	4	  
			
	 Section 1.4
	 	 Rules of Construction
	  	 	5	  
		
	 Article II THE SECURITIES
	  	 	5	  
			
	 Section 2.1
	 	 Unlimited In Amount, Issuable In Series, Form, and Dating
	  	 	5	  
			
	 Section 2.2
	 	 Execution and Authentication
	  	 	9	  
			
	 Section 2.3
	 	 Registrar and Paying Agent
	  	 	9	  
			
	 Section 2.4
	 	 Paying Agent to Hold Money in Trust
	  	 	9	  
			
	 Section 2.5
	 	 Securityholder Lists
	  	 	10	  
			
	 Section 2.6
	 	 Transfer and Exchange
	  	 	10	  
			
	 Section 2.7
	 	 Replacement Securities
	  	 	11	  
			
	 Section 2.8
	 	 Outstanding Securities
	  	 	11	  
			
	 Section 2.9
	 	 Temporary Securities
	  	 	11	  
			
	 Section 2.10
	 	 Cancellation
	  	 	12	  
			
	 Section 2.11
	 	 Defaulted Interest
	  	 	12	  
			
	 Section 2.12
	 	 Special Record Dates
	  	 	12	  
			
	 Section 2.13
	 	 Global Securities
	  	 	13	  
			
	 Section 2.14
	 	 CUSIP Numbers
	  	 	14	  
		
	 Article III REDEMPTION
	  	 	14	  
			
	 Section 3.1
	 	 Notices to Trustee
	  	 	14	  
			
	 Section 3.2
	 	 Selection of Securities to Be Redeemed
	  	 	15	  
			
	 Section 3.3
	 	 Notice of Redemption
	  	 	15	  
			
	 Section 3.4
	 	 Effect of Notice of Redemption
	  	 	16	  

							
	 Section 3.5
	 	 Deposit of Redemption Price
	  	 	16	  
			
	 Section 3.6
	 	 Securities Redeemed or Purchased in Part
	  	 	17	  
		
	 Article IV COVENANTS
	  	 	17	  
			
	 Section 4.1
	 	 Payment of Securities
	  	 	17	  
			
	 Section 4.2
	 	 Maintenance of Office or Agency
	  	 	17	  
			
	 Section 4.3
	 	 Reports
	  	 	18	  
			
	 Section 4.4
	 	 Compliance Certificate
	  	 	18	  
			
	 Section 4.5
	 	 Taxes
	  	 	18	  
			
	 Section 4.6
	 	 Stay, Extension and Usury Laws
	  	 	19	  
			
	 Section 4.7
	 	 Calculation of Original Issue Discount
	  	 	19	  
		
	 Article V SUCCESSORS
	  	 	19	  
			
	 Section 5.1
	 	 When Company May Merge, Etc.
	  	 	19	  
			
	 Section 5.2
	 	 Successor Person Substituted
	  	 	20	  
		
	 Article VI DEFAULTS AND REMEDIES
	  	 	20	  
			
	 Section 6.1
	 	 Events of Default
	  	 	20	  
			
	 Section 6.2
	 	 Acceleration
	  	 	21	  
			
	 Section 6.3
	 	 Other Remedies
	  	 	22	  
			
	 Section 6.4
	 	 Waiver of Past Defaults
	  	 	22	  
			
	 Section 6.5
	 	 Control by Majority
	  	 	22	  
			
	 Section 6.6
	 	 Limitation on Suits
	  	 	23	  
			
	 Section 6.7
	 	 Rights of Holders to Receive Payment
	  	 	23	  
			
	 Section 6.8
	 	 Collection Suit by Trustee
	  	 	23	  
			
	 Section 6.9
	 	 Trustee May File Proofs of Claim
	  	 	24	  
			
	 Section 6.10
	 	 Priorities
	  	 	24	  
			
	 Section 6.11
	 	 Undertaking for Costs
	  	 	25	  

							
	 Article VII TRUSTEE
	  	 	25	  
			
	 Section 7.2
	 	 Rights of Trustee
	  	 	26	  
			
	 Section 7.3
	 	 Individual Rights of Trustee
	  	 	27	  
			
	 Section 7.4
	 	 Trustee’s Disclaimer
	  	 	27	  
			
	 Section 7.5
	 	 Notice of Defaults
	  	 	27	  
			
	 Section 7.6
	 	 Reports by Trustee to Holders
	  	 	27	  
			
	 Section 7.7
	 	 Compensation and Indemnity
	  	 	28	  
			
	 Section 7.8
	 	 Replacement of Trustee
	  	 	28	  
			
	 Section 7.9
	 	 Successor Trustee by Merger, etc.
	  	 	30	  
			
	 Section 7.10
	 	 Eligibility; Disqualification
	  	 	30	  
			
	 Section 7.11
	 	 Preferential Collection of Claims Against Company
	  	 	30	  
		
	 Article VIII SATISFACTION AND DISCHARGE; DEFEASANCE
	  	 	30	  
			
	 Section 8.1
	 	 Satisfaction and Discharge
	  	 	30	  
			
	 Section 8.2
	 	 Option to Effect Legal Defeasance or Covenant Defeasance
	  	 	31	  
			
	 Section 8.3
	 	 Legal Defeasance and Discharge
	  	 	31	  
			
	 Section 8.4
	 	 Covenant Defeasance
	  	 	32	  
			
	 Section 8.5
	 	 Conditions to Legal or Covenant Defeasance
	  	 	32	  
			
	 Section 8.6
	 	 Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions
	  	 	34	  
			
	 Section 8.7
	 	 Repayment to Company
	  	 	34	  
			
	 Section 8.8
	 	 Reinstatement
	  	 	35	  
		
	 Article IX SUPPLEMENTS, AMENDMENTS AND WAIVERS
	  	 	35	  
			
	 Section 9.1
	 	 Without Consent of Holders
	  	 	35	  
			
	 Section 9.2
	 	 With Consent of Holders
	  	 	36	  
			
	 Section 9.3
	 	 Revocation and Effect of Consents
	  	 	37	  
			
	 Section 9.4
	 	 Notation on or Exchange of Securities
	  	 	38	  

							
	 Section 9.5
	 	 Trustee to Sign Amendments, etc.
	  	 	38	  
		
	 Article X GUARANTEES
	  	 	38	  
			
	 Section 10.1
	 	 Guarantee
	  	 	38	  
		
	 Article XI MISCELLANEOUS
	  	 	38	  
			
	 Section 11.1
	 	 Indenture Subject to Trust Indenture Act
	  	 	39	  
			
	 Section 11.2
	 	 Notices
	  	 	39	  
			
	 Section 11.3
	 	 Communication By Holders With Other Holders
	  	 	40	  
			
	 Section 11.4
	 	 Certificate and Opinion as to Conditions Precedent
	  	 	40	  
			
	 Section 11.5
	 	 Statements Required in Certificate or Opinion
	  	 	40	  
			
	 Section 11.6
	 	 Rules by Trustee and Agents
	  	 	41	  
			
	 Section 11.7
	 	 Legal Holidays
	  	 	41	  
			
	 Section 11.8
	 	 No Recourse Against Others
	  	 	41	  
			
	 Section 11.9
	 	 Counterparts
	  	 	41	  
			
	 Section 11.10
	 	 Governing Law
	  	 	41	  
			
	 Section 11.11
	 	 Submission to Jurisdiction; Service of Process; Waiver of Jury Trial
	  	 	41	  
			
	 Section 11.12
	 	 Severability
	  	 	42	  
			
	 Section 11.13
	 	 Effect of Headings, Table of Contents, etc.
	  	 	42	  
			
	 Section 11.14
	 	 Successors and Assigns
	  	 	42	  
			
	 Section 11.15
	 	 No Interpretation of Other Agreements
	  	 	42	  

 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.
		
	      (a)(5)	  	7.10
		
	      (b)	  	7.03;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)	  	7.06;11.02
		
	      (d)	  	7.06
		
	314(a)	  	4.03;10.02;11.05
		
	      (b)	  	N.A.
		
	      (c)(1)	  	11.04
		
	      (c)(2)	  	11.04

			
		
	       (c)(3)
	  	N.A.
		
	       (d)
	  	N.A.
		
	       (e)
	  	11.05
		
	       (f)
	  	N.A.
		
	 315(a)
	  	7.01(b)(ii);7.02
		
	       (b)
	  	7.02;7.05;10.02
		
	       (c)
	  	7.01(a);7.02
		
	       (d)
	  	7.01(d);7.02
		
	       (e)
	  	6.11
		
	 316(a)(last sentence)
	  	2.13(f)
		
	       (a)(1)(A)
	  	6.05
		
	       (a)(1)(B)
	  	6.04
		
	       (a)(2)
	  	N.A.
		
	       (b)
	  	6.07
		
	       (c)
	  	2.12;9.03
		
	 317(a)(1)
	  	6.08
		
	       (a)(2)
	  	6.09
		
	       (b)
	  	2.04
		
	 318(a)
	  	11.01
		
	       (b)
	  	N.A.
		
	       (c)
	  	11.01

 N.A. means not applicable 

	*	This Cross-Reference Table is not part of the Indenture. 

 INDENTURE dated as
[—] of by and among CARBONITE, INC., a Delaware corporation (the “Company”), the guarantors listed on Schedule 1 hereto (the “Guarantors”) and AMERICAN
STOCK TRANSFER & TRUST COMPANY, LLC, as trustee (the “Trustee”).  
 The Company has duly authorized the execution
and delivery of this Indenture to provide for the issuance from time to time of its debentures, notes, or other evidences of indebtedness to be issued in one or more series (the “Securities”), as herein provided, up to such principal
amount as may from time to time be authorized in or pursuant to one or more resolutions of the Company’s Board of Directors or by supplemental indenture. 

Each party agrees as follows for the benefit of the other parties and for the equal and ratable benefit of the Holders of each series of the
Securities: 
 ARTICLE 1 

DEFINITIONS AND INCORPORATION BY REFERENCE 

Section 1.01 Certain Definitions. 

“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,” 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; provided, however, that beneficial ownership of 10% or more of the Voting Securities of a Person shall be deemed to be a
controlling interest in such Person. For purposes of this definition, the terms “controlling,” “controlled by,” and “under common control with” have correlative meanings. 

“Agent” means any Registrar, Paying Agent, authenticating agent, or co-Registrar. 

“Board of Directors” means, with respect to any Person, the board of directors of such Person (or, if such Person is a limited
liability company, the board of managers of such Person) or similar governing body or any authorized committee thereof. 
 “Board
Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors or pursuant to authorization by the Board of Directors and to be in full force and
effect on the date of such certification (and delivered to the Trustee, if appropriate). 
 “Business Day” means any day other
than a Legal Holiday. 
 “Closing Date” means the date on which the Securities of a particular series were originally issued under
this Indenture. 
 “Commission” means the Securities and Exchange Commission. 

 “Company” means the party named as such above until a successor replaces it pursuant to
this Indenture and thereafter means the successor. 
 “Company Order” means a written order signed in the name of the Company by
two Officers, one of whom must be the Company’s principal executive officer, principal financial officer, or principal accounting officer and delivered to the Trustee. 

“Company Request” means a written request signed in the name of the Company by its Chairman of the Board, a President or a Vice
President, and by its Treasurer, an Assistant Treasurer, its Secretary, or an Assistant Secretary, and delivered to the Trustee. 

“Corporate Trust Office” shall mean the corporate trust office of the Trustee. 

“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. 

“Depositary” means, with respect to the Securities of any series issuable or issued in whole or in part in the form of one or more
Global Securities, the person designated as Depositary for such series by the Company, which Depositary shall be a clearing agency registered under the Exchange Act; and if at any time there is more than one such person, “Depositary” as
used with respect to the Securities of any series shall mean the Depositary with respect to the Securities of such series. 
 “Exchange
Act” means the Securities Exchange Act of 1934, as amended. 
 “GAAP” means generally accepted accounting principles set
forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board, or in such other statements by such
other entity as have been approved by a significant segment of the accounting profession, which are applicable to the circumstances as of the Closing Date. 

“Global Security” shall mean a Security issued to evidence all or a part of any series of Securities that is executed by the Company
and authenticated and delivered by the Trustee to a Depositary or pursuant to such Depositary’s instructions, all in accordance with this Indenture and pursuant to Section 2.01, which shall be registered as to principal and interest in the
name of such Depositary or its nominee. 
 “Guarantee” means a guarantee by any Guarantor of an obligation under this Indenture.

 “Holder” or “Securityholder” means a Person in whose name a Security is registered in the register of Securities kept
by the Registrar. 
 “Indenture” means this Indenture, as amended or supplemented from time to time. 

“Interest” when used with respect to an Original Issue Discount Security that by its terms bears interest only after Maturity, means
interest payable after Maturity. 

 “Maturity” when used with respect to any Security, means the date on which the
principal of such Security or an installment of principal becomes due and payable as therein or herein provided, whether at Stated Maturity or by declaration of acceleration, call for redemption or otherwise. 

“Officer” means, with respect to any Person, the Chairman of the Board, a Chief Executive Officer, the President, the Chief
Operating Officer, the Chief Financial Officer, any Vice-President, the Treasurer, the Controller, the Secretary, any Assistant Treasurer, or any Assistant Secretary of such Person. 

“Officers’ Certificate” means a certificate signed by two or more Officers, one of whom must be the principal executive
officer, principal financial officer, or principal accounting officer of the Company that meets the requirements of Section 11.05 hereof. 

“Opinion of Counsel” means an opinion from legal counsel who is reasonably acceptable to the Trustee that meets the requirements of
Section 11.05 hereof. The counsel may be an employee of or counsel to the Company or the Trustee. 
 “Original Issue Discount
Security” means any Security which provides that an amount less than its principal amount is due and payable upon acceleration after an Event of Default. 

“Person” means any individual, corporation, partnership, joint venture, association, limited liability company, joint stock company,
trust, unincorporated organization or government, or other entity. 
 “principal” of a Security means the principal amount due on
the Stated Maturity of the Security plus the premium, if any, on the Security. 
 “Securities” means the Securities authenticated
and delivered under this Indenture. 
 “Securities Act” means the Securities Act of 1933, as amended from time to time. 

“Stated Maturity” when used with respect to any Security or any installment of interest thereon, means the date specified in such
Security as the fixed date on which the principal of such Security or such installment of interest is due and payable. 

“Subsidiary” means, with respect to any specified Person: (i) any corporation, association, or other business entity of which
more than 50% of the total voting power of shares of capital stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers, or trustees of the corporation, association, or other business entity
is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person (or a combination thereof); and (ii) any partnership (a) the sole general partner or the managing general
partner of which is such Person or a Subsidiary of such Person, or (b) the only general partners of which are that Person or one or more Subsidiaries of that Person (or any combination thereof). 

“TIA” means the Trust Indenture Act of 1939 (15 U.S.C. §§77aaa-77bbbb) as in effect on the date on which this Indenture is
qualified under the TIA provided, however, that in the event the TIA is amended after such date, “TIA” means, to the extent required by such amendment, the Trust Indenture Act, as amended. 

 “Trust Officer” when used with respect to the Trustee, means any officer with direct
responsibility for the administration of this Indenture and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity with the particular subject.

 “Trustee” means the party named as such above until a successor becomes such pursuant to this Indenture and thereafter means or
includes each party who is then a trustee hereunder, and if at any time there is more than one such party, “Trustee” as used with respect to the Securities of any series means the Trustee with respect to Securities of that series. If
Trustees with respect to different series of Securities are trustees under this Indenture, nothing herein shall constitute the Trustees co-trustees of the same trust, and each Trustee shall be the trustee of a trust separate and apart from any trust
administered by any other Trustee with respect to a different series of Securities. 
 “U.S. Government Obligations” means
securities that are (i) direct obligations of the United States of America for the payment of which its full faith and credit is pledged or (ii) obligations of a person controlled or supervised by and acting as an agency or instrumentality
of the United States of America, the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America that is not callable or redeemable at the option of the issuer thereof, and shall also include
a depository receipt issued by a bank or trust company as custodian with respect to any such U.S. Government Obligation or a specific payment of interest on or principal of any such U.S. Government Obligation held by such custodian for the account
of the holder of a depository receipt, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in
respect of the U.S. Government Obligation evidenced by such depository receipt. 
 Section 1.02 Other Definitions. 

 

			
	 Term
	  	 Defined in Section

		
	“Bankruptcy Law”	  	  6.01
	“Custodian”	  	  6.01
	“Event of Default”	  	  6.01
	“foreign government obligations”	  	  8.01
	“Legal Holiday”	  	11.07
	“Paying Agent”	  	  2.03
	“Place of Payment”	  	  2.01
	“redemption price”	  	  3.03
	“Registrar”	  	  2.03

 Section 1.03 Incorporation by Reference of Trust Indenture Act. 

Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture. The
following TIA terms used in this Indenture have the following meanings: 
 “indenture securities” means the Securities. 

“indenture securityholder” means a Securityholder. 

“indenture to be qualified” means this Indenture. 

“indenture trustee” or “institutional trustee” means the Trustee. 

“obligor” on the Securities means the Company and any Guarantor and any successor obligor on the Securities. 

All other terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by Commission rule
under the TIA have the meanings so assigned to them. 
 Section 1.04 Rules of Construction. 

Unless the context otherwise requires: 

(a) a term has the meaning assigned to it; 

(b) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 

(c) “or” is not exclusive; 

(d) words in the singular include the plural, and in the plural include the singular; 

(e) provisions apply to successive events and transactions; and 

(f) references to sections of or rules under the Securities Act shall be deemed to include substitute, replacement of successor
sections or rules adopted by the SEC from time to time. 
 ARTICLE 2 

THE SECURITIES 

Section 2.01 Unlimited In Amount, Issuable In Series, Form, and Dating. 

The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. The Securities may be
issued in one or more series. There shall be established in or pursuant to a Board Resolution or an Officers’ Certificate pursuant to authority granted under a Board Resolution or established in one or more indentures supplemental hereto, prior
to the issuance of Securities of any series: 
 (a) the title of the Securities of the series (which shall distinguish the
Securities of the series from all other Securities); 

 (b) the series designation and whether they are senior Securities, senior
subordinated Securities, or subordinated Securities; 
 (c) any limit upon the aggregate principal amount of Securities of
the series that may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant to this Article
2); 
 (d) the price or prices (expressed as a percentage of the aggregate principal amount) at which the Securities will be
issued and, if other than the principal amount of the Securities, the portion of the principal amount of the Securities payable upon the maturity of the debt securities; 

(e) the date or dates on which the principal of the Securities of the series is payable; 

(f) the rate or rates that may be fixed or variable at which the Securities of the series shall bear interest, if any, or the
manner in which such rate or rates shall be determined, the date or dates from which such interest shall accrue, the interest payment dates on which such interest shall be payable, and the record dates for the determination of Holders to whom
interest is payable; 
 (g) the place or places where the principal of, premium, if any, and any interest, if any, on
Securities of the series shall be payable or the method of such payment, if by wire transfer, mail, or by other means, if other than as provided herein, and where the Securities can be surrendered for transfer, exchange, or conversion; 

(h) the price or prices at which (if any), the period or periods within which (if any), and the terms and conditions upon which
(if other than as provided herein) Securities of the series may be redeemed, in whole or in part, at the option, or as an obligation, of the Company; 

(i) the obligation, if any, of the Company to redeem, purchase, or repay Securities of the series, in whole or in part,
pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof and the price or prices at which and the period and periods within which and the terms and conditions upon which Securities of the series shall be redeemed,
purchased, or repaid pursuant to such obligation; 
 (j) the dates, if any, on which, and the price or prices at which, the
Securities of the series will be repurchased by the Company at the option of the Holders thereof and other detailed terms and provisions of such repurchase obligations; 

(k) if convertible, the initial conversion price, the conversion period, and any other terms governing such conversion; 

 (l) if other than denominations of $1,000 and any multiple thereof, the
denominations in which Securities of the series shall be issuable; 
 (m) if other than the principal amount thereof, the
portion of the principal amount of Securities of the series which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 6.02 hereof; 

(n) any addition to, change in, or deletion from the covenants set forth in Articles 4 or 5 that applies to Securities of the
series; 
 (o) any addition to, changes in, or deletion from the Events of Default with respect to the Securities of a
particular series and any change in the right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 6.02 hereof; 

(p) the Trustee for the series of Securities; 

(q) the forms of the Securities of the series in bearer or fully registered form (and, if in fully registered form, whether the
Securities will be issuable, in whole or in part, as Global Securities); 
 (r) whether the Securities of the series shall be
issued in whole or in part in the form of a Global Security or Securities; the terms and conditions, if any, upon which such Global Security or Securities may be exchanged in whole or in part for other individual Securities, and the Depositary for
such Global Security and Securities; 
 (s) the provisions, if any, relating to any security provided for the Securities of
the series; 
 (t) any other terms of the series (which terms may modify, supplement, or delete any provision of this
Indenture with respect to such series; provided, however, that no such term may modify or delete any provision hereof if imposed by the TIA; and provided, further, that any modification or deletion of the rights, duties, or immunities of the Trustee
hereunder shall have been consented to in writing by the Trustee); 
 (u) the terms and conditions, if any, upon which the
Securities of the series shall be exchanged for or converted into other securities or property of the Company or securities of another person; 

(v) any depositories, interest rate calculation agents, exchange rate calculation agents, or other agents with respect to
Securities of such series if other than those appointed herein; 
 (w) whether the Securities rank as senior subordinated
Securities or subordinated Securities or any combination thereof and the terms of any such subordination; 
 (x) the form and
terms of any guarantee of any Securities of the series; 

 (y) the terms and conditions of any defeasance provisions; 

(z) the currency of denomination of the Securities; 

(aa) the designation of the currency, currencies, or currency units in which payment of principal of, premium, and interest on
the Securities will be made; 
 (bb) whether the Securities will be listed on any securities exchange or quotation system;

 (cc) if payments of principal of, premium, or interest on the Securities will be made in one or more currencies or
currency units other than that or those in which the Securities are denominated, the manner in which the exchange rate with respect to these payments will be determined; 

(dd) the manner in which the amounts of payment of principal of, premium, or interest on the Securities will be determined, if
these amounts may be determined by reference to an index based on a currency or currencies other than that in which the Securities are denominated or designated to be payable or by reference to a commodity, commodity index, stock exchange index, or
financial index; 
 (ee) whether and under what circumstances, if any, additional amounts on any Securities will be paid in
respect of any tax, assessment, or governmental charge and, if so, whether the Company will have the option to redeem the Securities instead of making the payment; 

(ff) the terms and conditions pertaining to transfer, sale, or other assignment of the Securities; and 

(gg) if the Securities are to be issued upon the exercise of debt warrants, the time, manner, and place for the Securities to
be authenticated and delivered. 
 All Securities of any series shall be substantially identical except as to denomination and except as may
otherwise be provided in or pursuant to such Board Resolution or Officers’ Certificate or in any such indenture supplemental hereto. 

The principal of and any interest on the Securities shall be payable at the office or agency of the Company designated in the form of Security
for the series (each such place herein called the “Place of Payment”); provided, however, that payment of interest may be made at the option of the Company by check mailed to the address of the Person entitled thereto as such address shall
appear in the register of Securities referred to in Section 2.03 hereof. 
 Each Security shall be in one of the forms approved from
time to time by or pursuant to a Board Resolution or Officers’ Certificate, or established in one or more indentures supplemental hereto. Prior to the delivery of a Security to the Trustee for authentication in any form approved by or pursuant
to a Board Resolution or Officers’ Certificate, the Company shall deliver to the Trustee the Board Resolution or Officers’ Certificate by or pursuant to which such form of Security has been approved, which Board Resolution or
Officers’ Certificate shall have attached thereto a true and correct copy of the form of Security that has been approved by or pursuant thereto. 

 The Securities may have notations, legends, or endorsements required by law, stock exchange rule,
or usage. Each Security shall be dated the date of its authentication. 
 Section 2.02 Execution and Authentication. 

One or more 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 Security is authenticated, the Security shall
nevertheless be valid. 
 A Security shall not be valid until authenticated by the manual signature of the Trustee. The signature shall be
conclusive evidence that the Security has been authenticated under this Indenture. 
 The Trustee shall authenticate Securities for original
issue upon receipt of a Company Order. 
 The Trustee may appoint an authenticating agent acceptable to the Company to authenticate
Securities. 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
an Agent to deal with the Company or an Affiliate of the Company. 
 Section 2.03 Registrar and Paying Agent. 

The Company shall maintain an office or agency where Securities of a particular series may be presented for registration of transfer or for
exchange (the “Registrar”) and an office or agency where Securities of that series may be presented for payment (a “Paying Agent”). The Registrar for a particular series of Securities shall keep a register of the Securities of
that series and of their registration of transfer and exchange. The Company may appoint one or more co-Registrars and one or more additional paying agents for each series of Securities. The term “Paying Agent” includes any additional
paying agent. The Company may change any Paying Agent, Registrar, or co-Registrar without prior notice to any Securityholder. The Company shall notify the Trustee in writing of the name and address of any Agent not a party to this Indenture. 

If the Company fails to maintain a Registrar or Paying Agent for any series of Securities, the Trustee shall act as such. The Company or any
of its Affiliates may act as Paying Agent, Registrar, or co-Registrar. 
 The Company hereby appoints the Trustee the initial Registrar and
Paying Agent for each series of Securities unless another Registrar or Paying Agent, as the case may be, is appointed prior to the time Securities of that series are first issued. 

 Section 2.04 Paying Agent to Hold Money in Trust. 

Whenever the Company has one or more Paying Agents it will, prior to each due date of the principal of or interest on, any Securities, deposit
with a Paying Agent a sum sufficient to pay the principal or interest so becoming due, such sum to be held in trust for the benefit of the Persons entitled to such principal or interest, and (unless such Paying Agent is the Trustee) the Company will
promptly notify the Trustee of its action or failure so to act. 
 The Company shall require each Paying Agent other than the Trustee to
agree in writing that such Paying Agent will hold in trust for the benefit of the Securityholders of the particular series for which it is acting, or the Trustee, all money held by the Paying Agent for the payment of principal or interest on the
Securities of such series, and that such Paying Agent will notify the Trustee of any Default by the Company or any other obligor of the series of Securities in making any such payment and at any time during the continuance of any such Default, upon
the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. If the Company or an Affiliate acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of the
Securityholders of the particular series for which it is acting all money held by it as Paying Agent. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon so doing, the Paying Agent (if other than the
Company or an Affiliate of the Company) shall have no further liability for such money. Upon any bankruptcy or reorganization proceedings relating to the Company, the Trustee shall serve as Paying Agent for the Securities. 

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, separately by series, and shall otherwise comply with TIA Section 312(a). If the Trustee is not the Registrar, the Company shall furnish to the Trustee at least seven 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, separately by series, relating to such interest payment date or
request, as the case may be. 
 Section 2.06 Transfer and Exchange. 

Where Securities of a series are presented to the Registrar or a co-Registrar with a request to register a transfer or to exchange them for an
equal principal amount of Securities of the same series of other authorized denominations, the Registrar shall register the transfer or make the exchange if its requirements for such transactions are met. To permit registrations of transfers and
exchanges, the Company shall issue and the Trustee shall authenticate Securities at the Registrar’s request. 
 No service charge shall
be made for any registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer tax or similar
governmental charge payable upon exchanges pursuant to Sections 2.09, 2.13, 3.06 or 9.04). 
 The Company need not issue, and the Registrar
or co-Registrar need not register the transfer or exchange of, (i) any Security of a particular series during a period beginning at the 

 
opening of business 15 days before the day of any selection of Securities of that series for redemption under Section 3.02 and ending at the close of business on the day of selection, or
(ii) any Security so selected for redemption in whole or in part, except the unredeemed portion of any Security of that series being redeemed in part. 

Section 2.07 Replacement Securities. 

If a mutilated Security is surrendered to the Trustee 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 of same series if the Company’s and the Trustee’s requirements are met. The Trustee or the Company may require an indemnity bond to be
furnished which is sufficient in the judgment of both to protect the Company, the Trustee, and any Agent from any loss which any of them may suffer if a Security is replaced. The Company or the Trustee may charge such Holder for its expenses in
replacing a Security. 
 Every replacement Security is an obligation of the Company and shall be entitled to all the benefit of the
Indenture equally and proportionately with any and all other Securities of the same series. 
 Section 2.08 Outstanding
Securities. 
 The Securities of any series outstanding at any time are all the Securities of that series 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. 
 If a
Security is replaced pursuant to Section 2.07, it ceases to be outstanding unless the Trustee receives proof satisfactory to it that the replaced Security is held by a protected purchaser. 

If Securities are considered paid under Section 4.01, they cease to be outstanding and interest on them ceases to accrue. 

Except as set forth in Section 2.09 hereof, a Security does not cease to be outstanding because the Company or an Affiliate holds the
Security. 
 For each series of Original Issue Discount Securities, the principal amount of such Securities that shall be deemed to be
outstanding and used to determine whether the necessary Holders have given any request, demand, authorization, direction, notice, consent, or waiver shall be the principal amount of such Securities that could be declared to be due and payable upon
acceleration upon an Event of Default as of the date of such determination. When requested by the Trustee, the Company shall advise the Trustee of such amount, showing its computations in reasonable detail. 

Section 2.09 Temporary Securities. 

Until definitive Securities are ready for delivery, the Company may prepare and the Trustee shall authenticate temporary Securities upon a
Company Order. 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 in exchange for temporary
Securities. 
 Holders of temporary securities shall be entitled to all of the benefits of this Indenture. 

Section 2.10 Cancellation. 

The Company at any time may deliver Securities to the Trustee for cancellation. The Registrar and Paying Agent shall forward to the Trustee
any Securities surrendered to them for registration of transfer, exchange, or payment. The Trustee shall cancel all Securities surrendered for registration of transfer, exchange, payment, replacement, or cancellation and shall return such canceled
Securities to the Company at the Company’s written request. The Company may not issue new Securities to replace Securities that it has paid or that have been delivered to the Trustee for cancellation. 

Section 2.11 Defaulted Interest. 

If the Company fails to make a payment of interest on any series of Securities, the Company shall pay such defaulted interest plus (to the
extent lawful) any interest payable on the defaulted interest, in any lawful manner. It may elect to pay such defaulted interest, plus any such interest payable on it, to the Persons who are Holders of such Securities on which the interest is due on
a subsequent special record date. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each such Security and the date of the proposed payment. The Company shall fix or cause to be fixed any such
record date and payment date for such payment, provided that no such special record date shall be less than 10 days prior to the related payment date for such defaulted interest. At least 15 days before any such record date, the Company shall mail
to Securityholders affected thereby a notice that states the record date, payment date, and amount of such interest to be paid. 

Section 2.12 Special Record Dates. 

(a) The Company may, but shall not be obligated to, set a record date for the purpose of determining the identity of Holders
entitled to consent to any supplement, amendment or waiver permitted by this Indenture. If a record date is fixed, the Holders of Securities of that series outstanding on such record date, and no other Holders, shall be entitled to consent to such
supplement, amendment, or waiver or revoke any consent previously given, whether or not such Holders remain Holders after such record date. No consent shall be valid or effective for more than 90 days after such record date unless consents from
Holders of the principal amount of Securities of that series required hereunder for such amendment or waiver to be effective shall have also been given and not revoked within such 90-day period. 

(b) The Company may, but shall not be obligated to, fix any day as a record date for the purpose of determining the Holders of
any series of Securities entitled to join in the giving or making of any notice of Default, any declaration of acceleration, any request to institute proceedings, or any other similar direction. If a record date is fixed, the Holders of Securities
of that series outstanding on such record date, and no other 

 
Holders, shall be entitled to join in such notice, declaration, request, or direction, whether or not such Holders remain Holders after such record date; provided, however, that no such action
shall be effective hereunder unless taken on or prior to the date 90 days after such record date. 
 Section 2.13 Global
Securities. 
 (a) Terms of Securities. A Board Resolution, a supplemental indenture hereto, or an Officers’
Certificate shall establish whether the Securities of a series shall be issued in whole or in part in the form of one or more Global Securities and the Depositary for such Global Security or Securities. 

(b) Transfer and Exchange. Notwithstanding any provisions to the contrary contained in Section 2.06 of this Indenture and
in addition thereto, any Global Security shall be exchangeable pursuant to Section 2.06 of this Indenture for securities registered in the names of Holders other than the Depositary for such Security or its nominee only if (i) such
Depositary notifies the Company that it is unwilling or unable to continue as Depositary for such Global Security or if at any time such Depositary ceases to be a clearing agency registered under the Exchange Act, and, in either case, the Company
fails to appoint a successor Depositary within 90 days of such event or (ii) the Company executes and delivers to the Trustee an Officers’ Certificate to the effect that such Global Security shall be so exchangeable. Any Global Security
that is exchangeable pursuant to the preceding sentence shall be exchangeable for Securities registered in such names as the Depositary shall direct in writing in an aggregate principal amount equal to the principal amount of the Global Security
with like tenor and terms. 
 Except as provided in this paragraph (b) of this Section, a Global Security may not be transferred except
as a whole by the Depositary with respect to such Global Security to a nominee of such Depositary, by a nominee of such Depositary to such Depositary or another nominee of such Depositary, or by the Depositary or any such nominee to a successor
Depositary or a nominee of such a successor Depositary. 
 (c) Legend. Any Global Security issued hereunder shall bear a
legend in substantially the following form: 
 “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 issuer 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 may be requested by an authorized representative of DTC (and any payment is made to Cede & Co. or such other entity as may be 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. 

 Transfer 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 limited to transfers made in accordance with the restrictions set forth in the Indenture referred to herein.” 

(d) Acts of Holders. The Depositary, as a Holder, may appoint agents and otherwise authorize participants to give or take any
request, demand, authorization, direction, notice, consent, waiver, or other action which a Holder is entitled to give or take under this Indenture. 

(e) Payments. Notwithstanding the other provisions of this Indenture, unless otherwise specified as contemplated by
Section 2.01 hereof, payment of the principal of and interest, if any, on any Global Security shall be made to the Person specified therein. 

(f) Consents, Declaration and Directions. Except as provided in paragraph (e) of this Section, the Company, the Trustee,
and any Agent shall treat a Person as the Holder of such principal amount of outstanding Securities of such series represented by a Global Security as shall be specified in a written statement of the Depositary with respect to such Global Security,
for purposes of obtaining any consents, declarations, or directions required to be given by the Holders pursuant to this Indenture. 

Section 2.14 CUSIP Numbers. 

The Company in issuing any series of Securities may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall
use “CUSIP” numbers in notices as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed on such Securities or as contained in any notice and
that reliance may be placed only on the other identification numbers printed on such Securities, and any such action relating to such notice shall not be affected by any defect in or omission of such numbers in such notice. The Company shall
promptly notify the Trustee of any change in the “CUSIP” numbers. 
 ARTICLE 3 

REDEMPTION 

Section 3.01 Notices to Trustee. 

If the Company elects to redeem Securities of any series pursuant to any optional redemption provisions thereof, it shall furnish to the
Trustee at least 30 days, but not more than 60 days before a redemption date, an Officer’s Certificate which shall specify (i) the provisions of such Security or this Indenture pursuant to which the redemption shall occur, (ii) the
redemption date, (iii) the principal amount of Securities of that series to be redeemed, and (iv) the redemption price. 
 If the
Company elects to reduce the principal amount of Securities of any series to be redeemed pursuant to mandatory redemption provisions thereof, it shall notify the Trustee of the amount of, and the basis for, any such reduction. If the Company elects
to credit against any such mandatory redemption Securities it has not previously delivered to the Trustee for cancellation, it shall deliver such Securities with such notice. 

 Section 3.02 Selection of Securities to Be Redeemed. 

If less than all the Securities of any series are to be redeemed, or purchased in an offer to purchase at any time, the Trustee shall select
the Securities of that series to be redeemed or purchased as follows: (1) if the Securities of such series are listed on any national securities exchange, in compliance with the requirements of the principal national securities exchange on
which the Securities of that series are listed, or (2) if the Securities of that series are not listed on a national securities exchange, on a pro rata basis, by lot or by such other method as the Trustee deems fair and appropriate. In the
event of a partial redemption or purchase by lot, the particular Securities to be redeemed or purchased will be selected not less than 30 nor more than 60 days prior to the redemption or purchase date by the Trustee from Securities of that series
outstanding and not previously called for redemption. 
 The Trustee shall notify the Company promptly in writing of the Securities or
portions of Securities to be called for redemption or purchase and, in the case of any Securities selected for partial redemption or purchase, the principal amount thereof to be redeemed or purchased. Except as otherwise provided as to any
particular series of Securities, Securities and portions thereof that the Trustee selects shall be in amounts equal to the minimum authorized denomination for Securities of the series to be redeemed or purchased or any integral multiple thereof,
except that if all of the Securities of the series are to be redeemed or purchased, the entire outstanding amount of the Securities of the series held by such Holder, even if not equal to the minimum authorized denomination for the Securities of
that series, shall be redeemed or purchased. Provisions of this Indenture that apply to Securities called for redemption also apply to portions of Securities called for redemption. 

Section 3.03 Notice of Redemption. 

Except as otherwise provided as to any particular series of Securities, at least 30 days but not more than 60 days before a redemption date,
the Company shall mail a notice of redemption to each Holder whose Securities are to be redeemed. 
 The notice shall identify the
Securities of the series to be redeemed and shall state: 
 (1) the redemption date; 

(2) the redemption price fixed in accordance with the terms of the Securities of the series to be redeemed, plus accrued
interest, if any, to the date fixed for redemption (the “redemption price”); 
 (3) if any Security is being
redeemed in part, the portion of the principal amount of such Security to be redeemed and that, after the redemption date, upon surrender of such Security, a new Security or Securities in principal amount equal to the unredeemed portion will be
issued upon cancellation of the original Securities; 
 (4) the name and address of the Paying Agent; 

 (5) that Securities called for redemption must be surrendered to the Paying Agent
to collect the redemption price; 
 (6) that, unless the Company defaults in payment of the redemption price, interest on
Securities called for redemption ceases to accrue on and after the redemption date; 
 (7) the CUSIP number, if any, of the
Securities to be redeemed; 
 (8) the paragraph of the Securities and/or the section of the Indenture pursuant to which the
Securities called for redemption are being redeemed; and 
 (9) that no representation is made as to the correctness or
accuracy of the CUSIP number, if any, listed in such notice or printed on the Securities. 
 At the Company’s request, the Trustee
shall give the notice of redemption in the Company’s name and at its expense, provided, however, that the Company shall have delivered to the Trustee, at least 45 days prior to the redemption date, an Officers’ Certificate requesting that
the Trustee give such notice and setting forth the information to be stated in such notice as provided in the preceding paragraph. The notice mailed in the manner herein provided shall be conclusively presumed to have been duly given whether or not
the Holder receives such notice. In any case, failure to give such notice by mail or any defect in the notice of the Holder of any Security shall not affect the validity of the proceeding for the redemption of any other Security. 

Section 3.04 Effect of Notice of Redemption. 

Except if the giving of a notice of redemption would violate the terms of the Company’s credit agreement, and subject to the
subordination provisions of any series of Securities, once notice of redemption is mailed in accordance with Section 3.03 hereof, Securities called for redemption become due and payable on the redemption date for the redemption price. Upon
surrender to the Paying Agent, such Securities will be paid at the redemption price. 
 Section 3.05 Deposit of Redemption
Price. 
 On or before 10:00 a.m., New York City time, on the redemption or purchase date, the Company shall deposit with the Trustee or
Paying Agent (or, if the Company or any Affiliate is the Paying Agent, shall segregate and hold in trust) money sufficient to pay the redemption or purchase price of all Securities called for redemption on that date other than Securities that have
previously been delivered by the Company to the Trustee for cancellation. The Paying Agent shall return to the Company any money not required for that purpose. 

If the Company complies with the provisions of the preceding paragraph, on and after the redemption or purchase date, interest shall cease to
accrue on the Securities (or the portions thereof) called for redemption or purchase. If a Security is redeemed or purchased on or after an interest record date but on or prior to the related interest payment date, then any accrued and unpaid
interest shall be paid to the Person in whose name such Securities were registered at the close of business on such record date. If any Securities called for redemption or purchase shall not be so paid upon surrender for redemption because of the
failure of the Company to comply 

 
with the preceding paragraph, interest shall be paid on the unpaid principal, from the redemption or purchase date until such principal is paid, and to the extent lawful on any interest not paid
on such unpaid principal, in each case at the rate provided in accordance with the terms of the Securities of the series to be redeemed. 

Section 3.06 Securities Redeemed or Purchased in Part. 

Upon surrender of a Security that is redeemed or purchased in part, the Company shall issue and the Trustee shall authenticate for the Holder
at the expense of the Company a new Security of same series equal in principal amount to the unredeemed or unpurchased portion of the Security surrendered. 

ARTICLE 4 
 COVENANTS

 Section 4.01 Payment of Securities. 

The Company shall pay or cause to be paid the principal of, premium, if any, and interest on the Securities on the dates and in the manner
provided in this Indenture and the Securities. Principal, premium, if any, and interest shall be considered paid on the date due if the Paying Agent, if other than the Company or an Affiliate, holds as of 10:00 a.m., New York City time, on that date
immediately available funds designated for and sufficient to pay all principal, premium, if any, and interest then due. 
 To the extent
lawful, the Company shall pay interest on overdue principal and overdue installments of interest at the rate per annum borne by the applicable series of Securities. 

Section 4.02 Maintenance of Office or Agency. 

The Company shall maintain in the City of New York, an office or agency (which may be an office of the Trustee or an affiliate of the Trustee
or Registrar) where Securities may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served. The Company shall give prompt written
notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such
presentations, surrenders, notices, and demands may be made or served at the Corporate Trust Office of the Trustee. 
 The Company may also
from time to time designate one or more other offices or agencies where the Securities may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or
rescission shall in any manner relieve the Company of its obligation to maintain an office or agency in the City of New York for such purposes. The Company shall give prompt written notice to the Trustee of any such designation or rescission and of
any change in the location of any such other office or agency. 

 The Company hereby designates the Corporate Trust Office of the Trustee as one such office or
agency of the Company in accordance with Section 2.03. 
 Section 4.03 Reports. 

The Company shall deliver to the Trustee within 15 days after it files them with the Commission copies of the annual reports and of the
information, documents, and other reports (or copies of such portions of any of the foregoing as the Commission may by rules and regulations prescribe) that the Company is required to file with the Commission pursuant to Section 13 or 15(d) of
the Exchange Act; provided, however the Company shall not be required to deliver to the Trustee any materials for which the Company has sought and received confidential treatment by the Commission. The Company also shall comply with the other
provisions of TIA Section 314(a). 
 Delivery of such reports, information, and documents to the Trustee is for informational purposes
only and the Trustee’s receipt of such 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 Officers’ Certificates). 
 Section 4.04 Compliance
Certificate. 
 (a) The Company or any Guarantors shall deliver to the Trustee, within 120 days after the end of each fiscal year of the
Company, an Officers’ Certificate stating that a review of the activities of the Company and its Subsidiaries during the preceding fiscal year has been made under the supervision of the signing Officers (one of whom shall be the principal
executive officer, principal financial officer, or principal accounting officer of the Company) with a view to determining whether the Company has kept, observed, performed, and fulfilled its obligations under this Indenture, and further stating, as
to each such Officer signing such certificate, that to his or her knowledge the Company has kept, observed, performed, and fulfilled each and every covenant contained in this Indenture and is not in default in the performance or observance of any of
the terms, provisions, and conditions of this Indenture (or, if a Default or Event of Default shall have occurred, describing all such Defaults or Events of Default of which he or she may have knowledge and what action the Company is taking or
proposes to take with respect thereto) and that to his or her knowledge no event has occurred and remains in existence by reason of which payments on account of the principal of or interest, if any, on the Securities is prohibited or if such event
has occurred, a description of the event and what action the Company is taking or proposes to take with respect thereto. 
 (b) The Company
shall, so long as any of the Securities are outstanding, deliver to the Trustee, forthwith upon becoming aware of any Default or Event of Default, an Officers’ Certificate specifying such Default or Event of Default and what action the Company
is taking or proposes to take with respect thereto. 
 Section 4.05 Taxes. 

The Company shall pay prior to delinquency, all material taxes, assessments, and governmental levies except such as are contested in good
faith by appropriate proceedings or where the failure to effect such payment is not adverse in any material respect to the Holders of any Securities. 

 Section 4.06 Stay, Extension and Usury Laws. 

The Company and any Guarantors covenant (to the extent that it may lawfully do so) that they shall not at any time insist upon, plead, or in
any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture; and the Company and each
Guarantor (to the extent that they may lawfully do so) hereby expressly waive all benefits or advantages of any such law, and covenant that they shall not, by resort to any such law, 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 has been enacted. 
 Section 4.07
Calculation of Original Issue Discount. 
 If, as of the end of any fiscal year of the Company, the Company has any outstanding
Original Issue Discount Securities under the Indenture, the Company shall file with the Trustee promptly following the end of such fiscal year (i) a written notice specifying the amount of original issue discount (including daily rates and
accrual periods) accrued on such Original Issue Discount Securities as of the end of such year and (ii) such other specific information relating to such original issue discount as may then be required under the Internal Revenue Code of 1986, as
amended from time to time. 
 ARTICLE 5 

SUCCESSORS 

Section 5.01 When Company May Merge, Etc. 

In addition to provisions applicable to a particular series of Securities, the Company shall not directly or indirectly: (i) consolidate
or merge with or into another Person (whether or not the Company is the surviving Person) or (ii) sell, assign, transfer, lease, convey, or otherwise dispose of all or substantially all of the properties or assets of the Company and its
Subsidiaries in one or more related transactions to any Person unless: 
 (1) either (x) the Company is the surviving
Person; or (y) the Person formed by or surviving any such consolidation or merger (if other than the Company) or to which such sale, assignment, transfer, lease, conveyance, or other disposition shall have been made is a Person organized or
existing under the laws of the United States, any state thereof or the District of Columbia; 
 (2) the Person formed by or
surviving any such consolidation or merger (if other than the Company) or the Person to which such sale, assignment, transfer, lease, conveyance, or other disposition shall have been made assumes (by supplemental indenture reasonably satisfactory to
the Trustee) all the obligations of the Company under the Securities and this Indenture; and 
 (3) immediately after the
transaction no Default or Event of Default exists. 

 The Company shall deliver to the Trustee on or prior to the consummation of the proposed
transaction an Officers’ Certificate to the foregoing effect and an Opinion of Counsel stating that the proposed transaction and such supplemental indenture comply with this Indenture. 

Section 5.02 Successor Person Substituted. 

Upon any consolidation or merger, or any sale, assignment, transfer, conveyance, or other disposition (other than by lease) of all or
substantially all of the assets of the Company in accordance with Section 5.01 hereof, the successor Person formed by such consolidation or into which the Company is merged or to which such sale, assignment, transfer, conveyance, or other
disposition is made shall succeed to, and be substituted for (so that from and after the date of such consolidation, merger, sale, conveyance, or other disposition, the provisions of this Indenture referring to the “Company” shall refer
instead to the successor Person and not to the Company), and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein; provided, however, that the
predecessor Company shall not be relieved from the obligation to pay principal of, and interest on, any Securities except in the case of a sale, assignment, transfer, conveyance, or other disposition of all or substantially all of the Company’s
assets that meets the requirements of Section 5.01 hereof. 
 ARTICLE 6 

DEFAULTS AND REMEDIES 

Section 6.01 Events of Default. 

An “Event of Default” occurs with respect to Securities of any particular series if, unless as otherwise provided in the
establishing Board Resolution, Officers’ Certificate, or supplemental indenture hereto: 
 (1) the Company defaults in
the payment of interest on any Security of that series when the same becomes due and payable and the Default continues for a period of 30 days; 

(2) the Company defaults in the payment, when due, of the principal of, or premium, if any, on any Security of that series when
the same becomes due and payable at Maturity, upon redemption (including in connection with any offer to purchase under the terms of such Securities) or otherwise; 

(3) an Event of Default, as defined in the Securities of that series, occurs and is continuing, or the Company fails to comply
with any of its other agreements in the Securities of that series or in this Indenture with respect to that series and the Default continues for the period and after the notice specified below; 

(4) the Company 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 all or substantially all of its property; 

d) makes a general assignment for the benefit of its creditors; or 

e) admits in writing its inability generally to pay its debts as the same become due. 

(5) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 

a) is for relief against the Company in an involuntary case; 

b) appoints a Custodian of the Company or for all or substantially all of its property; or 

c) orders the liquidation of the Company; and the order or decree remains unstayed and in effect for 60 days. 

(6) any other Event of Default provided with respect to Securities of that series which is specified in a Board Resolution,
Officers’ Certificate, or supplemental indenture establishing that series of Securities. 
 The term “Bankruptcy Law” means
Title 11, U.S. Code or any similar federal or state law for the relief of debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator, or similar official under any Bankruptcy Law. 

A Default under clause (3) above is not an Event of Default with respect to a particular series of Securities until the Trustee or the
Holders of at least 50% in principal amount of the then outstanding Securities of that series notify the Company of the Default and the Company does not cure the Default within 60 days after receipt of the notice. The notice must specify the
Default, demand that it be remedied and state that the notice is a “Notice of Default.” Such notice shall be given by the Trustee if so requested in writing by the Holders of 50% of the principal amount of the then outstanding Securities
of that series. 
 Section 6.02 Acceleration. 

If an Event of Default with respect to Securities of any series (other than an Event of Default specified in clauses (4) and (5) of
Section 6.01) occurs and is continuing, the Trustee by notice to the Company, or the Holders of at least 50% in principal amount of the then outstanding Securities of that series by notice to the Company and the Trustee, may, subject to any
prior notice requirements set forth in any supplemental indenture, declare the unpaid principal (or, in the case of Original Issue Discount Securities, such lesser amount as may be 

 
provided for in such Securities) of and any accrued interest on all the Securities of that series to be due and payable on the Securities of that series. Upon such declaration the principal (or
such lesser amount) and interest shall be due and payable immediately. If an Event of Default specified in clause (4) or (5) of Section 6.01 occurs, all of such amount shall become and be immediately due and payable without any
declaration or other act on the part of the Trustee or any Holder. The Holders of a majority in principal amount of the then outstanding Securities of that series 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 with respect to that series have been cured or waived except nonpayment of principal (or such lesser amount) or interest that has become due solely
because of the acceleration. 
 Section 6.03 Other Remedies. 

If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may pursue any available remedy to
collect the payment of principal or interest on the Securities of that series or to enforce the performance of any provision of the Securities of that series or this Indenture. 

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. All remedies are
cumulative to the extent permitted by law. 
 Section 6.04 Waiver of Past Defaults. 

Subject to Section 6.02, the Holders of not less than a majority in aggregate principal amount of the then outstanding Securities of any
series, by notice to the Trustee, may on behalf of the Holders of the Securities of that series, waive an existing Default or Event of Default with respect to that series and its consequences except a continuing Default or Event of Default in the
payment of the principal (including any mandatory sinking fund or like payment) or, premium, if any, or interest on any Security of that series (including in connection with an offer to purchase); provided, however, that the Holders of a majority in
aggregate principal amount of the outstanding Securities of any series may rescind an acceleration and its consequences, including any related payment default that resulted from such acceleration and its consequences, including any related payment
default that resulted from any such acceleration. Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall
extend to any subsequent or other Default or impair any right consequent thereon. 
 Section 6.05 Control by Majority. 

The Holders of a majority in principal amount of the then outstanding Securities of any series may direct the time, method, and place of
conducting any proceeding for exercising any remedy with respect to that series available to the Trustee or exercising any trust or power conferred on it. However, the Trustee may refuse to follow any direction that conflicts with law or this
Indenture, that the Trustee determines may be unduly prejudicial to the rights of other 

 
Holders of Securities of that series, or that may involve the Trustee in personal liability. The Trustee may take any other action which it deems proper that is not inconsistent with any such
direction. Notwithstanding any provision to the contrary in this Indenture, the Trustee shall not be obligated to take any action with respect to the provisions of Section 6.02 unless directed to do so pursuant to this Section 6.05. 

Section 6.06 Limitation on Suits. 

A Holder of Securities of any series may not pursue a remedy with respect to this Indenture or the Securities unless: 

(1) the Holder gives to the Trustee written notice of a continuing Event of Default with respect to that series; 

(2) the Holders of at least 25% in principal amount of the then outstanding Securities of that series make a written request to
the Trustee to pursue the remedy; 
 (3) such Holder or Holders offer, and, if requested, provide to the Trustee indemnity
satisfactory to the Trustee against any loss, liability, or expense; 
 (4) the Trustee does not comply with the request
within 60 days after receipt of the request and the offer and, if requested, the provision of indemnity; and 
 (5) during
such 60-day period the Holders of a majority in principal amount of the then outstanding Securities of that series do not give the Trustee a direction inconsistent with the request. 

No Holder of any series of Securities may use this Indenture to prejudice the rights of another Holder of Securities of that series or to
obtain a preference or priority over another Holder of Securities of that series. 
 Section 6.07 Rights of Holders to Receive
Payment. 
 Notwithstanding any other provision of this Indenture, the right of any Holder of a Security to receive payment of
principal, premium, if any, and interest on the Security, on or after the respective due dates expressed in the Security (including in connection with any offer to purchase), or to bring suit for the enforcement of any such payment on or after such
respective dates, shall not, except as provided in the subordination provisions, if any, applicable to such Security, be impaired or affected without the consent of the Holder. 

Section 6.08 Collection Suit by Trustee. 

If an Event of Default specified in Section 6.01(1) or (2) hereof occurs and is continuing with respect to Securities of any series,
the Trustee may recover judgment in its own name and as trustee of an express trust against the Company for the whole amount of principal (or such portion of the principal as may be specified as due upon acceleration at that time in the terms of
that series of Securities), premium, if any, and interest, remaining unpaid on the Securities of that series then outstanding, together with (to the extent lawful) interest on overdue principal and 

 
interest, and such further amount as shall be sufficient to cover the costs and, to the extent lawful, expenses of collection, including the reasonable compensation, expenses, disbursements, and
advances of the Trustee, its agents, and counsel, and any other amounts due the Trustee under Section 7.07 hereof. 
 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 (including any claim for the reasonable compensation, expenses, disbursements, and advances of the Trustee, its agents, and counsel, and any other amounts due to the Trustee under
Section 7.07 hereof) and the Securityholders allowed in any judicial proceedings relative to the Company (or any other obligor on the Securities), its creditors, or its property and shall be entitled to and empowered to collect, receive, and
distribute any money or other property payable or deliverable on any such claims, and any custodian in any such judicial proceedings is hereby authorized by each Holder to make such 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 to it for the reasonable compensation, expenses, disbursements, and advances of the Trustee, its agent, and counsel, and any other amounts due the
Trustee under Section 7.07 hereof. Nothing contained herein shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment, or
composition affecting the Securities or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in any such proceeding. 

Section 6.10 Priorities. 

If the Trustee collects any money with respect to Securities of any series pursuant to this Article, it shall pay out the money in the
following order: 
 FIRST: to the Trustee, its agents, and attorneys for amounts due under Section 7.07 hereof, including payment of
all compensation, expense and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection; 

SECOND: in accordance with the subordination provisions, if any, of the Securities of such series; 

THIRD: to Securityholders for amounts due and unpaid on the Securities of such series for principal, premium, if any, and interest, ratably,
without preference or priority of any kind, according to the amounts due and payable on the Securities of such series for principal, premium, if any, and interest, respectively; and 

FOURTH: to the Company or to such party as a court of competent jurisdiction shall direct. 

The Trustee may fix a record date and payment date for any payment to Holders of Securities of any series pursuant to this Section. The
Trustee shall notify the Company in writing reasonably in advance of any such record date and payment date. 

 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 a 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 and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defense 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 hereof or a suit by Holders of more than 10% in principal amount of the then outstanding Securities of any series. 

ARTICLE 7 
 TRUSTEE

 Section 7.01 Duties of Trustee. 

(a) If an Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in
it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own affairs. 

(b) Except during the continuance of an Event of Default known to the Trustee: 

(i) the duties of the Trustee shall be determined solely by the express provisions of this Indenture or the TIA and the Trustee
need perform only those duties that are specifically set forth in this Indenture or the TIA and no others, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 

(ii) 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, in the case of any certificates or opinions which by any provision hereof are
specifically required to be furnished to the Trustee, the Trustee shall examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of
mathematical calculations or other facts stated therein). 
 (c) The Trustee may not be relieved from liabilities for its own
negligent action, its own negligent failure to act, or its own willful misconduct, except that: 
 (i) this paragraph does
not limit the effect of paragraph (b) of this Section; 

 (ii) the Trustee shall not be liable for any error of judgment made in good faith
by a responsible officer of the Trustee, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; and 

(iii) 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 hereof. 
 (d) Whether or not therein expressly so provided, 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) No provision of this Indenture shall require the Trustee to expend or risk its own funds or incur any liability. The
Trustee may refuse to perform any duty or exercise any right or power, including without limitation, the provisions of Section 6.05 hereof, unless it receives security and indemnity satisfactory to it against any loss, liability or expense.

 (f) 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. Absent written instruction from the Company, the Trustee shall not be required to invest any such money. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 

Section 7.02 Rights of Trustee. 

Subject to TIA Section 315(a) through (d): 

(a) The Trustee may conclusively rely on any document believed by it to be genuine and to have been signed or presented by the
proper person. The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other
evidence of indebtedness, or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit. 

(b) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate or an Opinion of Counsel, or
both. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such 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) 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 under the Indenture, unless the Trustee’s conduct constitutes negligence. 

 (e) Unless otherwise specifically provided in this Indenture, any demand,
request, direction, or notice from the Company shall be sufficient if signed by an Officer of the Company. 
 (f) The Trustee
may consult with counsel of its selection and may rely upon the advice of such counsel or any Opinion of Counsel. 
 (g) The
Trustee shall not be deemed to have notice of any Default or Event of Default unless a Trust Officer of the Trustee has actual knowledge thereof or unless written notice of any event that is in fact such a default is received by the Trustee at the
Corporate Trust Office of the Trustee, and such notice references the Securities generally or the Securities of a particular series, as the case may be, and this Indenture. 

(h) The permissive rights of the Trustee to do things enumerated in this Indenture shall not be construed as duties. 

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
an Affiliate with the same rights it would have if it were not Trustee. Any Agent may do the same with like rights. However, the Trustee is subject to TIA Sections 310(b) and 311. 

Section 7.04 Trustee’s Disclaimer. 

The Trustee 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 in the Securities other than its certificate of authentication. 

Section 7.05 Notice of Defaults. 

If a Default or Event of Default with respect to the Securities of any series occurs and is continuing and if it is known to the Trustee, the
Trustee shall mail to all Holders of Securities of that series a notice of the Default or Event of Default within 90 days after it occurs. Except in the case of a Default or Event of Default in payment on any 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 in the interests of such Securityholders. 

Section 7.06 Reports by Trustee to Holders. 

Within 60 days after May 15 in each year, the Trustee with respect to any series of Securities shall mail to Holders of Securities of
that series as provided in TIA Section 313(c) a brief report dated as of such May 15 that complies with TIA Section 313(a) (if such report is required by TIA Section 313(a)). The Trustee shall also comply with TIA
Section 313(b)(2). 
 A copy of each report at the time of its mailing to Securityholders shall be mailed to the Company and filed with
the Commission and each stock exchange on which any of the Securities are listed, as required by TIA Section 313(d). The Company shall notify the Trustee when the Securities are 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 such compensation as shall be agreed upon in writing for its services hereunder. The
Company shall reimburse the Trustee upon written request for all reasonable out-of-pocket expenses incurred by it. Such expenses shall include the reasonable compensation and out-of-pocket expenses of the Trustee’s agents and counsel. 

The Company shall indemnify each of the Trustee or any predecessor Trustee for any loss, liability, damage, claims or expenses, including
taxes (other than taxes based upon, measured by or determined by the income of the Trustee) incurred by it, without negligence or bad faith on its part, in connection with the acceptance or administration of this Indenture and its duties hereunder.
The Trustee shall notify the Company of any claim for which it may seek indemnity promptly upon obtaining knowledge thereof; provided, however, that any failure to so notify the Company shall not relieve the Company of its indemnity obligations
hereunder unless the Company shall have been prejudiced by such failure to notify. The Company shall defend the claim and the Trustee shall cooperate in the defense. The Trustee may have separate counsel and the Company shall pay the reasonable fees
and expenses of such counsel. The Company need not pay for any settlement made without its consent, which consent shall not be unreasonably withheld. 

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 in its capacity as Trustee, except money or property held in trust to pay principal and interest on particular Securities. Such lien will survive the satisfaction and discharge of this Indenture. 

If the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.01(4) or (5) hereof occurs, the
expenses and the compensation for the services will be intended to constitute expenses of administration under any applicable Bankruptcy Law. 

This Section 7.07 shall survive the resignation or removal of the Trustee and the termination of this Indenture. 

Section 7.08 Replacement of Trustee. 

A resignation or removal of the Trustee with respect to one or more or all series of Securities and appointment of a successor Trustee shall
become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section. 
 The Trustee may resign
with respect to one or more or all series of Securities by so notifying the Company in writing. The Holders of a majority in principal amount of the then outstanding Securities of any series may remove the Trustee as to that series by so notifying
the Trustee in writing and may appoint a successor Trustee with the Company’s consent. The Company may remove the Trustee with respect to one or more or all series of Securities if: 

(1) the Trustee fails to comply with Section 7.10 hereof; 

 (2) the Trustee is adjudged a bankrupt or an insolvent; 

(3) a receiver or other public officer takes charge of the Trustee or its property; or 

(4) the Trustee becomes incapable of acting. 

If, as to any series of Securities, the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the
Company shall promptly appoint a successor Trustee for that series. Within one year after the successor Trustee with respect to any series takes office, the Holders of a majority in principal amount of the then outstanding Securities of that series
may appoint a successor Trustee to replace the successor Trustee appointed by the Company. If a successor Trustee as to a particular series does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee,
the Company, or the Holders of at least 10% in principal amount of the then outstanding Securities of that series may petition any court of competent jurisdiction for the appointment of a successor Trustee. 

If the Trustee fails to comply with Section 7.10 hereof with respect to any series, any Holder of Securities of that series who satisfies
the requirements of TIA Section 310(b) may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee for that series. 

A successor Trustee as to any series of Securities shall deliver a written acceptance of its appointment to the retiring Trustee and to the
Company. Immediately after that, 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 hereof), 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 as to that series. The successor Trustee shall mail a notice of its succession to the Holders of Securities
of that series. 
 Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations under
Section 7.07 hereof shall continue for the benefit of the retiring trustee. 
 In case of the appointment hereunder of a successor
Trustee with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and each successor Trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto
wherein each successor Trustee shall accept such appointment and that (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts, and
duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (2) shall contain such provisions as shall be necessary or desirable to confirm that all the
rights, powers, trusts, and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (3) shall add to or
change any of the provisions of this Indenture as shall be necessary or desirable to provide for or facilitate the administration of the trusts hereunder by more than one Trustee; provided, however, that nothing herein or in such supplemental
Indenture 

 
shall constitute such Trustee co-trustees of the same trust and that each such Trustee shall be trustee of a trust hereunder separate and apart from any trust hereunder administered by any other
such Trustee. 
 Upon the execution and delivery of such supplemental Indenture the resignation or removal of the retiring Trustee shall
become effective to the extent provided therein and each such successor Trustee, without any further act, deed, or conveyance, shall become vested with all the rights, powers, trusts, and duties of the retiring Trustee with respect to the Securities
of that or those series to which the appointment of such successor Trustee relates. 
 Section 7.09 Successor Trustee by Merger,
etc. 
 If the Trustee as to any series of Securities consolidates, merges, or converts into, or transfers all or substantially all of
its corporate trust business to, another corporation, the successor corporation without any further act shall be the successor Trustee as to that series. 

Section 7.10 Eligibility; Disqualification. 

Each series of Securities shall always have a Trustee who satisfies the requirements of TIA Section 310(a)(1), (2) and (5). The
Trustee as to any series of Securities shall always have a combined capital and surplus of at least $25,000,000 as set forth in its most recent published annual report of condition. The Trustee is subject to TIA Section 310(b). 

Section 7.11 Preferential Collection of Claims Against Company. 

The Trustee is subject to TIA Section 311(a), excluding any creditor relationship listed in TIA Section 311(b). A Trustee who has
resigned or been removed shall be subject to TIA Section 311(a) to the extent indicated therein. 
 ARTICLE 8 

SATISFACTION AND DISCHARGE; DEFEASANCE 

Section 8.01 Satisfaction and Discharge. 

This Indenture will be discharged and will cease to be of further effect with respect to any series of Securities issued hereunder, when: 

(a) either: 
 (i)
all Securities of such series that have been authenticated (except lost, stolen or destroyed Securities that have been replaced or paid and Securities for whose payment money has theretofore been deposited in trust and thereafter repaid to the
Company) have been delivered to the Trustee for cancellation; or 
 (ii) all Securities of such series that have not been
delivered to the Trustee for cancellation have become due and payable by reason of the making of a notice of redemption or otherwise or will become due and payable within one year and the Company or any Guarantor has irrevocably deposited or caused
to be deposited with the 

 
Trustee as trust funds in trust solely for the benefit of the Holders, cash in U.S. dollars, non-callable U.S. Government Obligations, foreign government obligations, or a combination thereof, in
such amounts as will be sufficient without consideration of any reinvestment of interest, to pay and discharge the entire indebtedness on the Securities not delivered to the Trustee for cancellation for principal, premium and accrued interest to the
date of Maturity or redemption: 
 (b) no Default or Event of Default with respect to such series of Securities shall have occurred and be
continuing on the date of such deposit or shall occur as a result of such deposit and such deposit will not result in a breach or violation of, or constitute a default under, any other material instrument to which the Company or any Guarantor is a
party to or by which the Company or any Guarantor is bound; 
 (c) the Company or any Guarantor has paid or caused to be paid all sums
payable by it under this Indenture with respect to such series of Securities; and 
 (d) the Company has delivered irrevocable instructions
to the Trustee under this Indenture to apply the deposited money toward the payment of the Securities of such series at Maturity or the redemption date, as the case may be. 

In addition, the Company must deliver an Officers’ Certificate and an Opinion of Counsel to the Trustee stating that all conditions
precedent to satisfaction and discharge have been satisfied. 
 Notwithstanding, the satisfaction and discharge of this Indenture with
respect to a series of Securities, if money shall have been deposited with the Trustee pursuant to subclause (b) of clause (1) of this Section, the provisions of Section 8.06 shall survive. 

For purposes of this Indenture, the term “foreign government obligations” means, with respect to Securities of any series that are
denominated in a currency other than United States dollars, (a) direct obligations of the government that issued or caused to be issued such currency for the payment of which obligations its full faith and credit is pledged, which are not
callable or redeemable at the option of the issuer thereof; or (b) obligations of a person controlled or supervised by or acting as an agency or instrumentality of that government, the timely payment of which is unconditionally guaranteed as a
full faith and credit obligation by that government, which are not callable or redeemable at the option of the issuer thereof. 

Section 8.02 Option to Effect Legal Defeasance or Covenant Defeasance. 

Unless Section 8.03 or 8.04 is otherwise specified to be inapplicable to Securities of a series, the Company may, at the option of its
Board of Directors evidenced by a resolution set forth in an Officers’ Certificate, at any time, elect to have either Section 8.03 or 8.04 hereof be applied to all outstanding Securities of any such series upon compliance with the
conditions set forth below in this Article 8. 

 Section 8.03 Legal Defeasance and Discharge. 

Upon the Company’s exercise under Section 8.02 hereof of the option applicable to this Section 8.03, the Company and any
Guarantor shall, subject to the satisfaction of the conditions set forth in Section 8.05 hereof, be deemed to have been discharged from their respective obligations with respect to all outstanding Securities of any series on the date the
conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means that the Company and any Guarantor shall be deemed to have paid and discharged the entire indebtedness represented by the
outstanding Securities of a series, which shall thereafter be deemed to be “outstanding” only for the purposes of Section 8.06 hereof and the other Sections of this Indenture referred to in (a) and (b) below, and to have
satisfied all its other obligations under such Securities and this Indenture (and the Trustee, on demand of and at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following provisions which shall
survive until otherwise terminated or discharged hereunder: (a) the rights of Holders of outstanding Securities to receive solely from the trust fund described in Section 8.05 hereof, and as more fully set forth in such Section, payments
in respect of the principal of, premium, and interest on such Securities when such payments are due, (b) the Company’s obligations with respect to such Securities under Article 2 and Section 4.02 hereof, (c) the rights, powers,
trusts, duties, and immunities of the Trustee hereunder and the Company’s or any Guarantors’ obligations in connection therewith, and (d) this Article 8. Subject to compliance with this Article 8, the Company may exercise its option
under this Section 8.03 notwithstanding the prior exercise of its option under Section 8.04 hereof. 
 Section 8.04
Covenant Defeasance. 
 Upon the Company’s exercise under Section 8.02 hereof of the option applicable to this
Section 8.04, the Company or any Guarantors shall, subject to the satisfaction of the conditions set forth in Section 8.05 hereof, be released from their respective obligations under the covenants contained in Sections 4.03, 4.04, 4.05,
4.06, and 4.07, and Section 5.01 hereof with respect to the outstanding Securities of any series on and after the date the conditions set forth in Section 8.05 are satisfied (hereinafter, “Covenant Defeasance”), and the
Securities of such series shall thereafter be deemed not “outstanding” for the purposes of any direction, waiver, consent, or declaration, or act of Holders (and the consequences of any thereof) in connection with such covenants, but shall
continue to be deemed “outstanding” for all other purposes hereunder (it being understood that such Securities shall not be deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the
outstanding Securities of any series, the Company or any Guarantors may omit to comply with and shall have no liability in respect of any term, condition, or limitation set forth in any such covenant, whether directly or indirectly, by reason of any
reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any other document and such omission to comply shall not constitute a Default or an Event of Default under
Section 6.01 hereof, but, except as specified above, the remainder of this Indenture and such Securities shall be unaffected thereby. In addition, upon the Company’s exercise under Section 8.02 hereof of the option applicable to this
Section 8.04 hereof, subject to the satisfaction of the conditions set forth in Section 8.05 hereof, Sections 6.01(3) through 6.01(6) hereof shall not constitute Events of Default. 

 Section 8.05 Conditions to Legal or Covenant Defeasance. 

The following shall be the conditions to the application of either Section 8.03 or 8.04 hereof to the outstanding Securities of any
series. In order to exercise either Legal Defeasance or Covenant Defeasance: 
 (a) the Company must irrevocably deposit with
the Trustee, in trust, for the benefit of the Holders, cash in United States dollars, non-callable U.S. Government Obligations, foreign government obligations, or a combination thereof, in such amounts as will be sufficient, in the opinion of a
nationally recognized firm of independent public accountants, to pay the principal of, premium, and interest on the outstanding Securities on the stated date for payment thereof or on the applicable redemption date, as the case may be; 

(b) in the case of an election under Section 8.03 hereof, the Company shall have delivered to the Trustee an Opinion of
Counsel in the United States reasonably acceptable to the Trustee confirming that (A) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (B) since the date hereof, 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 Holders of the outstanding Securities will not recognize income, gain, or loss for federal income
tax purposes as a result of such Legal 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 Legal Defeasance had not occurred; 

(c) in the case of an election under Section 8.04 hereof, the Company shall have delivered to the Trustee an Opinion of
Counsel in the United States reasonably acceptable to the Trustee confirming that the Holders of the outstanding Securities will not recognize income, gain, or loss for federal income tax purposes as a result of such 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 Covenant Defeasance had not occurred; 

(d) no Default or Event of Default shall have occurred and be continuing on the date of such deposit (other than a Default or
Event of Default resulting from the incurrence of indebtedness all or a portion of the proceeds of which will be used to defease the Securities pursuant to this Article 8 concurrently with such incurrence) or insofar as Sections 6.01(4) or 6.01(5)
hereof is concerned, at any time in the period ending on the 91st day after the date of deposit; 
 (e) such Legal Defeasance
or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under, any material agreement or instrument (other than this Indenture) to which the Company or any of its Subsidiaries is a party or by which the Company
or any of its Subsidiaries is bound; 
 (f) the Company shall have delivered to the Trustee an Officers’ Certificate
stating that the deposit was not made by the Company with the intent of preferring the Holders over any other creditors of the Company or with the intent of defeating, hindering, delaying, or defrauding any other creditors of the Company; and 

(g) the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that
all conditions precedent provided for or relating to the Legal Defeasance or the Covenant Defeasance have been complied with. 

 Section 8.06 Deposited Money and Government Securities to be Held in Trust; Other
Miscellaneous Provisions. 
 Subject to Section 8.07 hereof, all money and non-callable U.S. Government Obligations or foreign
government obligations (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 8.06, the “Trustee”) pursuant to Section 8.01 or Section 8.05 hereof
in respect of the outstanding Securities shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company
acting as Paying Agent) as the Trustee may determine, to the Holders of such Securities of all sums due and to become due thereon in respect of principal, premium, if any, and interest, but such money need not be segregated from other funds except
to the extent required by law. 
 The Company shall pay and indemnify the Trustee against any tax, fee, or other charge imposed on or
assessed against the cash or non-callable U.S. Government Obligations or foreign government obligations deposited pursuant to Section 8.05 hereof or the principal and interest received in respect thereof other than any such tax, fee, or other
charge which by law is for the account of the Holders of the outstanding Securities. 
 Anything in this Article 8 to the contrary
notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon the request of the Company any money or non-callable U.S. Government Obligations or foreign government obligations held by it as provided in Section 8.05
hereof which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee (which may be the opinion delivered under Section 8.05(a) hereof), are in
excess of the amount thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance. 

Section 8.07 Repayment to Company. 

Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of, premium,
if any, or interest on any Securities and remaining unclaimed for two years after such principal and premium, if any, or interest has become due and payable shall be paid to the Company on its request or (if then held by the Company) shall be
discharged from such trust; and the Holder of such Securities shall thereafter look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as
trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the direction and expense of the Company cause to be published once, in the New York Times and
The Wall Street Journal (national edition), notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such notification or publication, any unclaimed balance of such
money then remaining will be repaid to the Company. 

 Section 8.08 Reinstatement. 

If the Trustee or Paying Agent is unable to apply any United States dollars or non-callable U.S. Government Securities in accordance with
Section 8.03 or 8.04 hereof, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Company’s obligations under this
Indenture and the Securities shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.03 or 8.04 hereof until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with
Section 8.03 or 8.04 hereof, as the case may be; provided, however, that, if the Company makes any payment of principal of, premium, if any, or interest on any Securities following 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 held by the Trustee or Paying Agent. 

ARTICLE 9 
 SUPPLEMENTS,
AMENDMENTS AND WAIVERS 
 Section 9.01 Without Consent of Holders. 

The Company and the Trustee as to any series of Securities may supplement or amend this Indenture or the Securities without notice to or the
consent of any Securityholder: 
 (1) to cure any ambiguity, defect, or inconsistency; 

(2) to comply with Article 5; 

(3) to comply with any requirements of the Commission in connection with the qualification of this Indenture under the TIA;

 (4) to add or change any provisions of this Indenture to facilitate the issuance of, or to liberalize the terms of,
Securities issued in bearer form, or to permit or facilitate the issuance of Securities in uncertificated form, provided that this action will not adversely affect the interests of the Holders of the Securities of any series in any material respect;

 (5) to add to, change or eliminate any of the provisions of this Indenture in respect of one or more series of Securities,
provided, however, that any such addition, change, or elimination (A) shall neither (i) apply to any Security of any series created prior to the execution of such supplemental indenture and entitled to the benefit of such provision nor
(ii) modify the rights of the Holder of any such Security with respect to such provision or (B) shall become effective only when there is no outstanding Security of any series created prior to the execution of such supplemental indenture
and entitled to the benefit of such provision; 
 (6) to add to existing covenants additional covenants for the benefit of
the Holders of all or any series of Securities, to surrender any right or power conferred upon the Company in this Indenture, or to add events of default for the benefit of Holders of all or any series of Securities; 

 (7) to secure previously unsecured Securities; 

(8) to make any change that does not adversely affect in any material respect the interests of the Securityholders of any
series; 
 (9) to establish additional series of Securities as permitted by Section 2.01 hereof; 

(10) to establish the form or terms of Securities of any series, including the provisions and procedures, if applicable, for
the conversion or exchange of the Securities into other securities or property; 
 (11) to evidence and provide for the
acceptance or appointment of a successor Trustee or facilitate the administration of the trusts under this Indenture by more than one Trustee; 

(12) to make any provision with respect to the conversion or exchange of rights of Holders pursuant to the requirements of this
Indenture; 
 (13) to close this Indenture with respect to the authentication and delivery of additional series of Securities
or to qualify, or maintain qualification of, this Indenture under the TIA; or 
 (14) to supplement any of the provisions of
this Indenture to the extent necessary to permit or facilitate defeasance and discharge of any series of Securities, provided that the action shall not adversely affect the interests of the Holders of Securities of any series in any material
respect. 
 Section 9.02 With Consent of Holders. 

Subject to Section 6.07, the Company and the Trustee as to any series of Securities may amend this Indenture or the Securities of that
series with the written consent of the Holders of a majority in principal amount of the then outstanding Securities of each series affected by the amendment, with each such series voting as a separate class. The Holders of a majority in principal
amount of the then outstanding Securities of any series may also waive compliance in a particular instance by the Company with any provision of this Indenture with respect to that series or the Securities of that series; provided, however, that
without the consent of each Securityholder affected, an amendment or waiver may not: 
 (1) reduce the percentage of the
principal amount of Securities whose Holders must consent to an amendment or waiver; 
 (2) reduce the amount of, or postpone
the date fixed for, the payment of any sinking fund or analogous provision; 
 (3) reduce the rate of, or change the time for
payment of interest on, any Security; 

 (4) reduce the principal of or change the fixed Maturity of any Security or waive
a redemption payment or alter the redemption provisions with respect thereto; 
 (5) make any Security payable in money other
than that stated in the Security (including defaulted interest); 
 (6) reduce the principal amount of Original Issue
Discount Securities payable upon acceleration of the Maturity thereof; 
 (7) make any change in Section 6.04, 6.07 or
this Section 9.02; 
 (8) waive a default in the payment of the principal of, or interest on, any Security, except to
the extent otherwise provided for in Section 6.02 hereof; 
 (9) change the place of payment on a Security; 

(10) change the currency or currencies of payment of the principal of, and any premium, make-whole payment, interest, or
additional amounts on, any Security; 
 (11) reduce the percentage of Holders of Securities whose consent is needed to modify
or amend this Indenture; 
 (12) reduce the percentage of the Holders of outstanding Securities of any series necessary to
modify or amend this Indenture, to waive compliance with provisions of this Indenture or defaults and their consequences under this Indenture, or to reduce the quorum or voting requirements contained in this Indenture; 

(13) make any change that adversely affects the right to convert or exchange any Security other than as permitted by this
Indenture or decrease the conversion or exchange rate or increase the conversion or exchange price of any such Security; or 

(14) waive a redemption payment with respect to any Security. 

An amendment or waiver under this Section that waives, changes, or eliminates any covenant or other provision of this Indenture that has
expressly been included solely for the benefit of one or more particular series of Securities, or that modifies the rights of the Holders of Securities of such series with respect to such covenant or other provision, shall be deemed not to affect
the rights under this Indenture of the Holders of Securities of any other series. 
 It shall not be necessary for the consent of the
Holders under this Section to approve the particular form of any proposed amendment or waiver, but it shall be sufficient if such consent approves the substance thereof. 

The Company shall mail supplemental indentures to Holders upon request. Any failure of the Company to mail such notice, or any defect therein,
shall not, however, in any way impair or affect the validity of any such supplemental indenture or waiver. 

 Section 9.03 Revocation and Effect of Consents. 

Until an amendment or waiver becomes effective, a consent to it by a Holder of a Security is a continuing consent by the Holder and every
subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security, even if notation of the consent is not made on any Security; provided, however, any such Holder or subsequent Holder may
revoke the consent as to his Security or portion of a Security if the Trustee receives the written notice of revocation before the date on which the amendment, supplement, or waiver becomes effective. An amendment, supplement, or waiver shall become
effective in accordance with its terms and thereafter shall bind every Holder of Securities of that series. 
 Section 9.04 Notation
on or Exchange of Securities. 
 If an amendment, supplement, or waiver changes the terms of a Security: (a) the Trustee may
require the Holder of the Security to deliver it to the Trustee, the Trustee may, at the written direction of the Company and at the Company’s expense, place an appropriate notation on the Security about the changed terms and return it to the
Holder and the Trustee may place an appropriate notation on any Security thereafter authenticated; or (b) 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 issue a new Security shall not affect the validity
and effect of such amendment, supplement, or waiver. 
 Section 9.05 Trustee to Sign Amendments, etc. 

Subject to the preceding sentence, the Trustee shall sign any amendment or supplemental Indenture if the same does not adversely affect the
rights, duties, liabilities, or immunities of the Trustee. The Trustee may, but shall not be obligated to, execute any such amendment, supplement, or waiver that affects the Trustee’s own rights, duties, liabilities, or immunities under this
Indenture or otherwise. The Company may not sign an amendment or supplemental Indenture until its Board of Directors approves it. In executing any amended or supplemental Indenture, the Trustee shall be entitled to receive and (subject to
Section 7.01) shall be fully protected in relying upon, in addition to the documents required by Section 11.04 hereof, an Officer’s Certificate and an Opinion of Counsel stating that the execution of such amended or supplemental
Indenture is authorized or permitted by this Indenture. 
 ARTICLE 10 

GUARANTEES 

Section 10.01 Guarantee. 

Any series of Securities may be guaranteed by one or more of the Guarantors. The terms and the form of any such Guarantee will be established
in the manner contemplated by Section 2.01 for that particular series of Securities. 

 ARTICLE 11 

MISCELLANEOUS 

Section 11.01 Indenture Subject to Trust Indenture Act. 

This Indenture is subject to the provisions of the TIA that are required to be part of this Indenture, and shall, to the extent applicable, be
governed by such provisions. 
 Section 11.02 Notices. 

Any notice or communication is duly given if in writing and delivered in person or overnight air courier guaranteeing next-day delivery,
addressed as follows: 
 If to the Company and/or any Guarantor: 

Carbonite, Inc. 
 177 Huntington
Avenue 
 Boston, Massachusetts 02115 

Attention: General Counsel 

Telephone: (617) 587-1104 

with a copy to: 
 Foley &
Lardner LLP 
 111 Huntington Avenue 

Boston, Massachusetts 02199 

Attention: Susan E. Pravda, Esq. 

Telephone: (617) 342-4000 

If to the Trustee: 
 American
Stock Transfer & Trust Company 
 6201 15th Avenue 

Brooklyn, New York 11219 

Attention: General Counsel 

Telephone: (718) 921-8200 

The Company or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications.

 All notices and communications (other than those sent to Holders) shall be deemed to have been duly given: at the time delivered by hand,
if personally delivered and signed for; and the next business day after timely delivery to the courier, if sent by overnight air courier guaranteeing next-day delivery and signed for. 

Any notice or communication to a Securityholder shall be mailed by first-class mail, certified or registered, return receipt requested, or by
overnight air courier guaranteeing next day delivery to his address shown on the register kept by the Registrar. Failure to mail a notice or 

 
communication to a Security holder or any defect in it shall not affect its sufficiency with respect to other Securityholders. If the Company mails a notice or communication to Securityholders,
it shall mail a copy to the Trustee at the same time. Any notice or communication shall also be mailed to any Person described in TIA Section 313(c), to the extent required by the TIA. 

If a notice or communication is mailed in the manner provided above within the time prescribed, it is duly given, whether or not the addressee
receives it. 
 Section 11.03 Communication By Holders With Other Holders. 

Holders may communicate pursuant to TIA Section 312(b) with other Holders with respect to their rights under this Indenture or the
Securities. The Company, the Trustee, the Registrar, and anyone else shall have the protection of TIA Section 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 any action under this Indenture, the Company shall furnish to the
Trustee: 
 (a) an Officers’ Certificate, in form and substance reasonably satisfactory to the Trustee (which shall
include the statements set forth in Section 11.05 hereof) stating that, in the opinion of the signers, all conditions precedent and covenants, if any, provided for in this Indenture relating to the proposed action have been complied with; and

 (b) an Opinion of Counsel, in form and substance reasonably satisfactory to the Trustee (which shall include the
statements set forth in Section 11.05 hereof) stating that, in the opinion of such counsel, such action is authorized or permitted by this Indenture and that 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 condition or covenant provided for in this Indenture (other than the certificate
provided pursuant to TIA Section 314(a)(4)) shall include: 
 (1) a statement that the Person 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 Person, he or she has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

(4) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been complied with;
provided, however, that with respect to matters of fact an Opinion of Counsel may rely on an officer’s certificate or certificates of public officials. 

 Section 11.06 Rules by Trustee and Agents. 

The Trustee as to Securities of any series may make reasonable rules for action by or at a meeting of Holders of Securities of that series.
The Registrar and any Paying Agent or Authenticating Agent may make reasonable rules and set reasonable requirements for their functions. 

Section 11.07 Legal Holidays. 

A “Legal Holiday” is a Saturday, a Sunday or a day on which banking institutions in the City of New York, New York or at a place of
payment are authorized by law, regulation, or executive order to remain closed. If a payment date is a Legal Holiday at a place of payment, payment may be made at that place on the next succeeding day that is not a Legal Holiday, and no interest
shall accrue for the intervening period. 
 Section 11.08 No Recourse Against Others. 

No past, present or future director, officer, employee, manager, securityholder, or incorporator, as such, of the Company or any successor
Person shall have any liability for any obligations of the Company or any Guarantor under any series of Securities, any guarantees thereof, or the Indenture or for any claim based on, in respect of, or by reason of such obligations or their
creation. Each Securityholder by accepting a Security waives and releases all such liability. The waiver and release are part of the consideration of issuance of the Securities. 

Section 11.09 Counterparts. 

This Indenture may be executed by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an
original and all of which taken together shall constitute one and the same agreement. 
 Section 11.10 Governing Law. 

The internal laws of the State of New York shall govern and be used to construe this Indenture and the Securities (including any guarantees
thereof), without giving effect to the applicable principles of conflicts of laws to the extent that the application of the laws of another jurisdiction would be required thereby. 

Section 11.11 Submission to Jurisdiction; Service of Process; Waiver of Jury Trial 

Each party hereto hereby submits to the nonexclusive jurisdiction of the United States District Court for the Southern District of New York
and of any New York State Court sitting in New York City for purposes of all legal proceedings arising out of or relating to this Indenture, the Securities (including any guarantee thereof) or the transactions contemplated hereby and

 
thereby. Each party hereto irrevocably waives, to the fullest extent permitted by law, any objection which it may now or hereafter have to the laying of the venue of any such proceeding brought
in such a court and any claim that any such proceeding brought in such a court has been brought in an inconvenient forum. Process in any such suit, action or proceeding may be served on any party anywhere in the world, whether within or without the
State of New York. Without limiting the foregoing, the parties agree that service of process upon such party at the address referred to in Section 11.02, together with written notice of such service to such party, shall be deemed effective
service of process upon such party. Each of the parties hereto irrevocably waives any and all rights to trial by jury in any legal proceeding arising out of or relating to this Indenture, the Securities (including any guarantee thereof) or the
transactions contemplated hereby and thereby. 
 Section 11.12 Severability. 

In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality, and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 Section 11.13 Effect of
Headings, Table of Contents, etc. 
 The Article and Section headings herein and the table of contents are for convenience only and
shall not affect the construction hereof. 
 Section 11.14 Successors and Assigns. 

All covenants and agreements of the Company in this Indenture and the Securities shall bind its successors and assigns. All agreements of the
Trustee in this Indenture shall bind its successor. All agreements of any Guarantor in this Indenture shall bind its successors, except as otherwise provided by the terms hereof. 

Section 11.15 No Interpretation of Other Agreements. 

This Indenture may not be used to interpret another indenture, loan, or debt agreement of the Company or any Subsidiary or of any Person. Any
such indenture, loan, or debt agreement may not be used to interpret this Indenture. 
 [Signature Page Follows] 

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

			
	COMPANY:
	
	CARBONITE, INC.
		
	By:	 	  

		 	Name:
		 	Title:
	
	TRUSTEE:
	
	AMERICAN STOCK TRANSFER & TRUST COMPANY
		
	By:	 	  

		 	Name:
		 	Title:
	
	GUARANTORS:
		
	[—]	 	
		
	By:	 	  

		 	Name:
		 	Title:EX-10.1

 Exhibit 10.1 

CREDIT AGREEMENT 

between 
 HIE RETAIL,
LLC, 
 a Hawaii limited liability company, 

as Borrower 
 and

 BANK OF HAWAII, 

together with the financial institutions 

listed in Schedule I hereto, 

as Lenders 
 and 

BANK OF HAWAII, 
 as
Administrative and Collateral Agent 

							
	 SECTION I.
	 	 INTERPRETATION
	  	 	2	  
			
	 1.01
	 	 Definitions
	  	 	2	  
			
	 1.02
	 	 GAAP
	  	 	18	  
			
	 1.03
	 	 Headings
	  	 	18	  
			
	 1.04
	 	 Plural Terms
	  	 	18	  
			
	 1.05
	 	 Time
	  	 	18	  
			
	 1.06
	 	 Governing Law
	  	 	19	  
			
	 1.07
	 	 Construction
	  	 	19	  
			
	 1.08
	 	 Entire Agreement
	  	 	19	  
			
	 1.09
	 	 Calculation of Interest and Fees
	  	 	19	  
			
	 1.10
	 	 Other Interpretive Provisions
	  	 	19	  
			
	 SECTION II.
	 	 CREDIT FACILITIES
	  	 	20	  
			
	 2.01
	 	 Revolving Credit Facility
	  	 	20	  
			
	 2.02
	 	 Letter of Credit Facility
	  	 	23	  
			
	 2.03
	 	 Term Loan Facility
	  	 	27	  
			
	 2.04
	 	 Additional Commitment Reductions, Etc.
	  	 	30	  
			
	 2.05
	 	 Fees
	  	 	31	  
			
	 2.06
	 	 Prepayments
	  	 	32	  
			
	 2.07
	 	 Other Payment Terms
	  	 	34	  
			
	 2.08
	 	 Notes and Interest Account
	  	 	35	  
			
	 2.09
	 	 Loan Funding, Etc.
	  	 	35	  
			
	 2.10
	 	 Pro Rata Treatment
	  	 	36	  
			
	 2.11
	 	 Change of Circumstances
	  	 	37	  
			
	 2.12
	 	 Taxes on Payments
	  	 	40	  
			
	 2.13
	 	 Funding Loss Indemnification
	  	 	41	  
			
	 2.14
	 	 Replacement of Affected Lenders and Defaulting Lenders
	  	 	41	  
			
	 2.15
	 	 Security
	  	 	42	  
			
	 SECTION III.
	 	 CONDITIONS PRECEDENT
	  	 	43	  
			
	 3.01
	 	 Initial Conditions Precedent
	  	 	43	  
			
	 3.02
	 	 Conditions Precedent to Each Credit Event
	  	 	44	  
			
	 SECTION IV.
	 	 REPRESENTATIONS AND WARRANTIES
	  	 	44	  
			
	 4.01
	 	 Borrower’s Representations and Warranties
	  	 	44	  
			
	 4.02
	 	 Reaffirmation
	  	 	48	  

							
	 SECTION V.
	 	 COVENANTS
	  	 	49	  
			
	 5.01
	 	 Affirmative Covenants
	  	 	49	  
			
	 5.02
	 	 Negative Covenants
	  	 	52	  
			
	 5.03
	 	 Financial Covenants
	  	 	58	  
			
	 SECTION VI.
	 	 DEFAULT
	  	 	58	  
			
	 6.01
	 	 Events of Default
	  	 	58	  
			
	 6.02
	 	 Cure Right
	  	 	60	  
			
	 6.03
	 	 Remedies
	  	 	61	  
			
	 SECTION VII.
	 	 AGENTS AND RELATIONS AMONG LENDERS
	  	 	61	  
			
	 7.01
	 	 Appointment, Powers and Immunities
	  	 	61	  
			
	 7.02
	 	 Reliance by Agent
	  	 	62	  
			
	 7.03
	 	 Defaults
	  	 	62	  
			
	 7.04
	 	 Indemnification
	  	 	62	  
			
	 7.05
	 	 Non Reliance
	  	 	62	  
			
	 7.06
	 	 Resignation of Agent
	  	 	63	  
			
	 7.07
	 	 Authorization
	  	 	63	  
			
	 7.08
	 	 Agent in Its Individual Capacity
	  	 	63	  
			
	 SECTION VIII.
	 	 MISCELLANEOUS
	  	 	64	  
			
	 8.01
	 	 Notices
	  	 	64	  
			
	 8.02
	 	 Expenses
	  	 	64	  
			
	 8.03
	 	 Indemnification
	  	 	65	  
			
	 8.04
	 	 Waivers; Amendments
	  	 	65	  
			
	 8.05
	 	 Successors and Assigns
	  	 	66	  
			
	 8.06
	 	 Setoff; Security Interest
	  	 	70	  
			
	 8.07
	 	 No Third Party Rights
	  	 	70	  
			
	 8.08
	 	 Partial Invalidity
	  	 	70	  
			
	 8.09
	 	 Jury Trial
	  	 	70	  
			
	 8.10
	 	 Counterparts
	  	 	71	  
			
	 8.11
	 	 Confidentiality
	  	 	71	  
			
	 8.12
	 	 ERISA
	  	 	71	  
			
	 8.13
	 	 Securities Laws
	  	 	71	  

  
 - 2 - 

 CREDIT AGREEMENT 

THIS CREDIT AGREEMENT, dated as of November 14, 2013, is entered into by and among: 

(1) HIE RETAIL, LLC, a Hawaii limited liability company (“Borrower”); 

(2) Each of the financial institutions from time to time listed in Schedule I hereto, as amended from time to time
(such financial institutions to be referred to herein collectively as the “Lenders”); and 
 (3) BANK OF
HAWAII, a Hawaii banking corporation, as administrative agent for the Lenders and as collateral agent for the Lenders (“Agent”). 

RECITALS 
 A.
Borrower is a wholly owned Subsidiary of Hawaii Pacific Energy, LLC, a Delaware limited liability company (“Holdings”). 
 B.
Holdings entered into that certain Membership Interest Purchase Agreement dated June 17, 2013, by and among Tesoro Corporation (“Seller”), Tesoro Hawaii, LLC, a Hawaii limited liability company, now known as Hawaii Independent Energy,
LLC (“HIE”) and Holdings under which Holdings acquired all of the issued and outstanding membership interests of Tesoro Hawaii, LLC effective at 12:01 am on September 25, 2013 (the “MIPA Closing”). 

C. HIE’s assets and properties include retail fuel dispensing stations, convenience stores, alcohol and liquor licenses, inventory,
refined products for sale to retail consumers, operating permits, leases, all of the issued and outstanding capital stock of Smiley’s Super Service, Inc., a Hawaii corporation (“Smiley’s”), and other liabilities, obligations,
property and operations which comprise its retail gasoline station and convenience store business commonly known as Tesoro, 2 Go Tesoro, Tesoro Express and other similar names (collectively, the “Retail Business”). 

D. To facilitate the transfer of the Retail Business to Borrower, after the Closing Date (i) HIE shall retain all of its right, title and
interest to the capital stock of Smiley’s, all alcohol and liquor inventory, various licenses and permits (including but not limited to alcohol and liquor licenses and permits), and certain other assets and properties until such time as they
can be lawfully conveyed and transferred to Borrower in accordance with Governmental Rule, and (ii) upon Borrower’s acquisition of the Retail Business (other than as described in preceding clause (i)), Borrower and HIE will enter into that
certain Management Services and Employment Service Agreement (as amended, restated or supplemented, the “MSA”) whereby HIE will assist with and provide certain management services and employment services necessary to the ongoing operation
of the Retail Business by Borrower. 
 F. The Lenders are willing to provide such credit facilities upon the terms and subject to the
conditions set forth herein. 

 AGREEMENT 

NOW, THEREFORE, in consideration of the above Recitals and the mutual covenants herein contained, the parties hereto hereby agree as follows:

  

	SECTION I.	INTERPRETATION 

 1.01 Definitions. Unless otherwise indicated in this
Agreement or any other Credit Document, each term set forth below, when used in this Agreement or any other Credit Document, shall have the respective meaning given to that term below or in the provision of this Agreement or other Credit Document
referenced below: 
 “Acquired Assets” shall mean the assets and properties which comprise the Retail
Business. 
 “Acquisition” shall mean the acquisition of the Retail Business by Borrower as described in the
Recitals. 
 “Affected Lender” shall mean any Lender which has given notice to Borrower (which notice has
not been rescinded) of (a) any obligation by Borrower to pay any amount pursuant to Subparagraph 2.11(c), Subparagraph 2.11(d) or Subparagraph 2.12(a) or (b) the occurrence of any circumstances of the nature described
in Subparagraph 2.11(b). 
 “Affiliate” shall mean, with respect to any Person, (a) in the
case of any such Person which is a partnership or limited liability company, any partner or member in such partnership or limited liability company, respectively, (b) any other Person which is directly or indirectly controlled by, controls or
is under common control with such Person or one or more of the Persons referred to in the preceding clause (a), (c) any other Person who is an officer, director, trustee or employee of, or partner in, such Person or any Person referred to in
the preceding clauses (a) and (b), (d) any other Person who is a member of the immediate family of such Person or of any Person referred to in the preceding clauses (a) through (c), and (e) any other Person that is a trust solely
for the benefit of one or more Persons referred to in clause (d) and of which such Person is sole trustee; provided, however, in no event shall Agent or any Lender or any of their respective Affiliates be an Affiliate of Borrower.
For purposes of this definition, “control” (including with correlative meanings, the terms “controlling”, “controlled by” and “under common control with”) means the possession, directly or indirectly, of the
power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities or by contract or otherwise. The Affiliates of a Person shall include any officer or director of such Person. In no
event shall the Agent or any Lender be deemed to be an Affiliate of the Borrower. 

  
 - 2 - 

 “Agent” shall have the meaning given to that term in clause
(3) of the introductory paragraph hereof. 
 “Agreement” shall mean this Credit Agreement. 

“Applicable Lending Office” shall mean, with respect to any Lender, (a) initially, its office designated
as such in Schedule I (or, in the case of any Lender which becomes a Lender by an assignment pursuant to Subparagraph 8.05(c), its office designated as such in the applicable Assignment Agreement) and (b) subsequently, such
other office or offices as such Lender may designate to Agent as the office at which such Lender’s Loans will thereafter be maintained and for the account of which all payments of principal of, and interest on, such Lender’s Loans will
thereafter be made. 
 “Applicable Margin” shall mean, with respect to any Revolving Loan or Term Loan
Portion at any time, the per annum margin which is determined pursuant to the Pricing Grid and added to the Base Rate or LIBOR Rate, as the case may be, for such Loan or Portion; provided, however, that each Applicable Margin
determined pursuant to the Pricing Grid shall be increased by two percent (2%) on the date an Event of Default occurs and shall continue at such increased rate during the continuance of such Event of Default. 

“Assignee Lender” shall have the meaning given to that term in Subparagraph 8.06(c). 

“Assignment” shall have the meaning given to that term in Subparagraph 8.06(c). 

“Assignment Agreement” shall have the meaning given to that term in Subparagraph 8.06(c). 

“Assignment Effective Date” shall have, with respect to each Assignment Agreement, the meaning set forth
therein. 
 “Assignor Lender” shall have the meaning given to that term in Subparagraph 8.06(c).

 “Base Rate” shall mean the primary interest rate established from time to time in good faith by Agent in
the ordinary course of business and with due consideration of the money market, and published in intrabank circular letters or memoranda for the guidance of loan officers in processing of its loans which float with the Base Rate. 

“Base Rate Loan” shall mean, at any time, a Revolving Loan which then bears interest as provided in clause
(i) of Subparagraph 2.01(c). 
 “Base Rate Portion” shall mean, at any time, any portion of
the Term Loan Borrowing or any portion of any Term Loan which then bears interest at a rate specified in clause (i) of Subparagraph 2.03(d). 

  
 - 3 - 

 “Borrower” shall have the meaning given to that term in
clause (1) of the introductory paragraph hereof. 
 “Borrower Member” shall mean, at any time, a
Person that holds any membership interest in Borrower. 
 “Borrowing” shall mean a Revolving Loan Borrowing
or a Term Loan Borrowing. 
 “Business Day” shall mean any day on which (a) commercial banks are not
authorized or required to close in Honolulu, Hawaii or (b) if such Business Day is related to a Loan or Portion which bears or is to bear interest based on a LIBOR Rate, dealings in Dollar deposits are carried out in the London interbank
market. 
 “Capital Adequacy Requirement” shall have the meaning given to that term in Subparagraph
2.11(d). 
 “Capital Asset” shall mean, with respect to any Person, tangible fixed or capital assets
owned or leased (in the case of a Capital Lease) by such Person. 
 “Capital Expenditures” shall mean, with
respect to any Person and any period, all amounts expended and indebtedness incurred or assumed by such Person during such period for the acquisition of Capital Assets. “Capital Expenditures” shall include all amounts expended and
indebtedness incurred or assumed in connection with Capital Leases. 
 “Capital Leases” shall mean any and
all lease obligations that, in accordance with GAAP, are required to be capitalized on the books of a lessee. 

“Cash Capital Expenditures” shall mean, with respect to any Person and any period, the total Capital
Expenditures made by such Person during such period minus (a) Capital Expenditures made by such Person on account of Capital Leases and (b) Capital Expenditures financed by such Person with the proceeds of Indebtedness other than
the Indebtedness arising under this Agreement. 
 “Change of Law” shall have the meaning given to that term
in Subparagraph 2.11(b). 
 “Closing Date” shall mean the date that the Acquisition closes and
the initial Term Loans are made to Borrower. 
 “Code” shall mean the Internal Revenue Code of 1986, as
amended from time to time. 
 “Collateral” shall mean all property in which Agent or any Lender has a Lien
to secure the Obligations. 

  
 - 4 - 

 “Commitments” shall mean, collectively, the Revolving Loan
Commitments and the Term Loan Commitments. 
 “Commitment Fee Percentage” shall mean, with respect to the
Unused Commitment at any time, the per annum rate which is determined pursuant to the Pricing Grid and used to calculate the Commitment Fees. 

“Commitment Fees” shall have the meaning given to that term in Subparagraph 2.05(a). 

“Contingent Obligation” shall mean, with respect to any Person without duplication, (a) any Guaranty
Obligation of that Person; and (b) any direct or indirect obligation or liability, contingent or otherwise, of that Person (i) in respect of any letter of credit or similar instrument issued for the account of that Person or as to which
that Person is otherwise liable for reimbursement of drawings, (ii) as a general partner or joint venturer (with general liability) in any partnership or joint venture, (iii) to purchase any materials, supplies or other property from, or
to obtain the services of, another Person if the relevant contract or other related document or obligation requires that payment for such materials, supplies or other property, or for such services, shall be made regardless of whether delivery of
such materials, supplies or other property is ever made or tendered, or such services are ever performed or tendered, or (iv) incurred pursuant to any interest rate swap, currency swap, forward, cap, floor or other similar contract that is not
entered into in connection with a bona fide hedging operation that provides offsetting benefits to such Person. The amount of any Contingent Obligation shall be deemed equal to the liability in respect thereof reasonably anticipated in accordance
with GAAP. 
 “Contractual Obligation” of any Person shall mean, any indenture, note, lease, loan agreement,
security, deed of trust, mortgage, security agreement, guaranty, instrument, contract, agreement or other form of contractual obligation or undertaking to which such Person is a party or by which such Person or any of its property is bound. 

“Control” shall mean, with respect to any Person, either (i) ownership directly or indirectly of 51% or
more of all equity interest in such Person or (ii) the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, through the ownership of voting securities, or otherwise.

 “Credit Documents” shall mean and include this Agreement, the LC Applications, the Notes, the Security
Documents, and all documents, instruments and agreements delivered to Agent or any Lender pursuant to Paragraph 3.01; and all other documents, instruments and agreements delivered by any officer of Borrower to Agent or any Lender in
connection with this Agreement on or after the date of this Agreement. 
 “Credit Event” shall mean the
making of any Loan, the conversion of any Base Rate Loan or Base Rate Portion into a LIBOR Loan or LIBOR Portion, the selection of a new Interest Period for any LIBOR Loan or LIBOR Portion, the issuance of any Letter of Credit or any amendment of
any Letter of Credit which increases its stated amount or extends its expiration date. 

  
 - 5 - 

 “Default” shall have the meaning given to that term in
Paragraph 6.01. 
 “Defaulting Lender” shall mean a Lender which has failed to fund its portion
of any Borrowing or its participation in any Drawing Payment and such failure has continued for three (3) Business Days after written notice from Agent or Borrower. 

“Dollars” and “$” shall mean the lawful currency of the United States of America. 

“Drawing Payment” shall have the meaning given to that term in Subparagraph 2.02(c). 

“EBITDA” shall mean, with respect to Borrower and its Subsidiaries for any period, the sum of the following
calculated on a rolling four-quarter basis, determined on a consolidated basis in accordance with GAAP where applicable: 

(a) The net income or net loss of such Person and its Subsidiaries for such period before provision for income taxes; 

plus 
 (b)
The sum (to the extent deducted in calculating net income or loss in clause (a) above) of (i) all Interest Expenses of Borrower and its Subsidiaries accruing during such period, and (ii) all depreciation and amortization of
Borrower and its Subsidiaries accruing during such period; 
 plus 

(c) all transaction fees and expenses incurred within twelve (12) months after the Closing Date by Borrower or its
Subsidiaries in connection with the Acquisition or the Senior Credit Facilities up to a maximum amount of $600,000.00; 
 minus 

(d) The sum (to the extent included in calculating net income or loss in clause (a) above) of all extraordinary
gains and losses of such Person and its Subsidiaries accruing during such period. 
 “Employee Benefit Plan”
shall mean any employee benefit plan within the meaning of Section 1002(3) of ERISA maintained or contributed to by Borrower or any ERISA Affiliate, other than a Multiemployer Plan. 

“Environmental Laws” shall mean all Requirements of Law relating to the protection of human health and the
environment, including, without limitation, all Requirements of Law, pertaining to reporting, licensing, permitting, investigation, and remediation of emissions, discharges, releases, or threatened releases of hazardous materials, chemical
substances, pollutants, contaminants, or hazardous or toxic substances, materials or wastes whether solid, liquid, or gaseous in nature, into the air, surface water, groundwater, or land, or relating to the manufacture, processing, distribution,
use, treatment, storage, disposal, transport, or handling of chemical substances, pollutants, contaminants, or hazardous or toxic substances, materials, or wastes, whether solid, liquid, or gaseous in nature. 

  
 - 6 - 

 “Equity Securities” of any Person shall mean (a) all common
stock, preferred stock, participations, shares, partnership interests, membership interests or other equity interests in such Person (regardless of how designated and whether or not voting or non-voting) and (b) all warrants, options and other
rights to acquire any of the foregoing. 
 “ERISA” shall mean the Employee Retirement Income Security Act of
1974, as the same may from time to time be amended or supplemented, including any rules of regulations issued in connection therewith. 

“ERISA Affiliate” shall mean any Person which is treated as a single employer with Borrower under
Section 414 of the Code. 
 “Event of Default” shall have the meaning given to that term in
Paragraph 6.01. 
 “Excess Cash Flow” shall mean, with respect to Borrower for any fiscal year,
the sum of the following, determined on a consolidated basis in accordance with GAAP where applicable: 
 (a) EBITDA of
Borrower and its Subsidiaries for such year (excluding from the calculation thereof any non-cash gains or losses); 
 minus 

(b) All cash payments for taxes paid by Borrower and its Subsidiaries during each year; 

minus 
 (c)
Cash Capital Expenditures; 
 minus 

(d) Payment of mandatory principal payments under the Term Loan Facility, and other Permitted Indebtedness, excluding the
Revolving Credit Facility; 
 minus 

(e) Cash payments for Interest Expenses; 

minus 
 (f)
Optional principal prepayments made to the Term Loan Facility during the fiscal year end period being measured; 

  
 - 7 - 

 minus 

(g) Cash Distributions made by Borrower to Holdings in the amount necessary for Holdings and its member in respect of their
respective tax liabilities attributable to Borrower. 
 “Excess Cash Flow Recapture” shall have the meaning
given to that term in Subparagraph 2.06(c)(iv). 
 “Executive Officer” shall mean, with respect
to Borrower, the managing member of Borrower or the chief executive officer, president, chief operating officer, chief financial officer, vice president of finance, treasurer, controller, accounting manager or any manager of Borrower. 

“FACTA” shall mean Section 1471 through Section 1474 of the Code, as in effect on the date hereof
(and any amended or successor version that is substantially comparable), and any current or future regulations promulgated therein or published administrative guidance implementing such provision. 

“Federal Funds Rate” shall mean, for any day, the Federal funds effective rate as set forth in the weekly
statistical release designated as H.15(519) published by the Federal Reserve Bank of New York for such day, or in any successor publication (or, if such rate is not so published for any day, the average rate quoted to Agent on and for such day by
three (3) Federal fund brokers of recognized standing selected by Agent). 
 “Federal Reserve Board”
shall mean the Board of Governors of the Federal Reserve System. 
 “Financial Statements” shall mean, with
respect to any accounting period for any Person, statements of income, shareholders’ equity and cash flows of such Person for such period, and a balance sheet of such Person as of the end of such period, setting forth in each case in
comparative form figures for the corresponding period in the preceding fiscal year if such period is less than a full fiscal year or, if such period is a full fiscal year, corresponding figures from the preceding annual audit, all prepared in
reasonable detail and in accordance with GAAP. 
 “Fixed Charge Coverage Ratio” shall mean, with respect to
Borrower for any period, the ratio, determined on a consolidated basis in accordance with GAAP where applicable, of EBITDA divided by Fixed Charges. 

“Fixed Charges” shall mean the sum of (1) all regularly scheduled principal and interest payments made on
loans, including principal and interest cash payments made on subordinated debt if and when permitted, (2) all distributions to members of Borrower, (3) all Cash Capital Expenditures for the current and subsequent quarters, and
(4) all cash payments for income taxes 
 “Funded Debt” of Borrower and its Subsidiaries shall mean the
sum of (1) the aggregate outstanding principal amount of all Indebtedness, including all bank debt, Capital Leases and other direct loans from third parties or members, excluding any subordinated loans from Members, (2) eight
(8) times operating lease and rental expense for the period of the four fiscal quarters most recently ended, and (3) outstanding Standby Letters of Credit and Letters of Credit for purchases of fuel and guarantees of performance. 

  
 - 8 - 

 “GAAP” shall mean generally accepted accounting principles and
practices as in effect in the United States of America from time to time, consistently applied. 
 “Governmental
Authority” shall mean any domestic or foreign national, state of local government, any political subdivision thereof, any department, agency, authority or bureau of any of the foregoing, or any other entity exercising executive,
legislative, judicial, regulatory or administrative functions of or pertaining to government, including, without limitation, the Federal Deposit Insurance Corporation, the Federal Reserve Board, the Comptroller of the Currency, any central bank or
any comparable authority. 
 “Governmental Charges” shall mean, with respect to any Person, all levies,
assessments, fees, claims or other charges imposed by any Governmental Authority upon such Person or any of its property or otherwise payable by such Person. 

“Governmental Rule” shall mean any law, rule, regulation, ordinance, order, code interpretation, judgment,
decree, policy or similar form of decision of any Governmental Authority having the force of law. 
 “Guaranty
Obligation” shall mean, with respect to any Person, any direct or indirect liability of that Person with respect to any indebtedness, lease, dividend, letter of credit or other obligation (the “primary obligations”) or another
Person (the “primary obligor”), including any obligation of that Person, whether or not contingent, (a) to purchase, repurchase or otherwise acquire such primary obligations or any property constituting direct or indirect security
therefor, or (b) to advance or provide funds (i) for the payment or discharge of any such primary obligation, or (ii) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or
solvency or any balance sheet item, level of income or financial condition of the primary obligor, or (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, or (d) otherwise to assure or hold harmless the holder of any such primary obligation against loss in respect thereof. The amount of any Guaranty Obligation shall be deemed
equal to the liability in respect thereof reasonably anticipated under GAAP. 
 “HIE” shall have the meaning
given such term in the Recitals. 
 “Holdings” shall have the meaning given such term in the Recitals. 

“Indebtedness” of any Person shall mean, without duplication: 

(a) All obligations of such Person evidenced by notes, bonds, debentures or other similar instruments and all other obligations
of such Person for borrowed money; 

  
 - 9 - 

 (b) All obligations of such Person for the deferred purchase price of property or
services (including obligations under letters of credit and other credit facilities which secured or financed such purchase price), other than trade payables incurred by such Person in the ordinary course of its business on ordinary terms and not
overdue; 
 (c) All obligations of such Person under conditional sale or other title retention agreements with respect to
property acquired by such Person (even though the rights and remedies of the seller or lender of such agreement in the event of default are limited to repossession or sale of such property); 

(d) All obligations of such Person as lessee under or with respect to Capital Leases; 

(e) All obligations of such Person, contingent or otherwise, under or with respect to letters of credit, acceptances or other
similar facilities; 
 (f) All obligations of such Person, contingent or otherwise, under or with respect to interest rate
swap, cap or collar agreements, interest rate future or option contracts, currency swap agreements, currency future or option contracts or other similar agreements; 

(g) All Contingent Obligations of such Person with respect to the obligations of such Person or other Persons of the types
described in clauses (a) – (f) above. 
 “Initial Term Loan Commitment” shall have the
meaning given that term in Subparagraph 2.03(b). 
 “Interest Account” shall have the meaning
given to that term in Subparagraph 2.08(c). 
 “Interest Expenses” shall mean, with respect to
any Person for any period, the sum, determined on a consolidated basis in accordance with GAAP where applicable, of (a) all interest accruing on the indebtedness of such Person during such period (including interest attributable to Capital
Leases, minus (b) to the extent included in calculating interest pursuant to clause (a) above, all amortization of capitalized debt issuance costs of such Person during such period. 

“Interest Period” shall mean, with respect to any LIBOR Loan or LIBOR Portion, the time periods selected by
Borrower pursuant to Subparagraph 2.01(b), Subparagraph 2.01(d), or Subparagraph 2.03(e) which commences on the first day of such Loan or Portion or the effective date of any conversion and ends on the last day of
such time period, and thereafter, each subsequent time period selected by Borrower pursuant to Subparagraph 2.01(e), or Subparagraph 2.03(f) which commences on the last day of the immediately preceding time period and ends on
the last day of that time period. 

  
 - 10 - 

 “Investment” of any Person shall mean any loan or advance of
funds by such Person to any other Person (other than advances to employees of such Person for moving and travel expense, drawing accounts and similar expenditures in the ordinary course of business), any purchase or other acquisition of any Equity
Securities or Indebtedness of any other Person, any capital contribution by such Person to or any other investment by such Person in any other Person (including, without limitation, any Guaranty Obligations of such Person and any Indebtedness of
such Person of the type described in clause (g) of the definition of “Indebtedness” on behalf of any other Person); provided, however, that Investments shall not include (a) accounts receivable or other
indebtedness owed by customers of such Person which are current assets and arose from sales in the ordinary course of such Person’s business or (b) prepaid expenses of such Person incurred and prepaid in the ordinary course of business.

 “Issuing Bank” shall have the meaning given to that term in Subparagraph 2.02(a). 

“LC Application” shall have the meaning given to that term in Subparagraph 2.02(b). 

“LC Issuance Fees” shall have the meaning given to that term in Subparagraph 2.05(e)(iii). 

“Lenders” shall have the meaning given to that term in clause (2) of the introductory paragraph
hereof. 
 “Letter of Credit” shall have the meaning given to that term in
Subparagraph 2.02(a). 
 “Leverage Ratio” shall mean for any period the ratio of Funded Debt to
EBITDA plus Rents and lease payments on other facilities for the period of the four (4) fiscal quarters most recently ended. 

“LIBOR Loan” shall mean, at any time, a Revolving Loan which then bears interest as provided in clause
(ii) of Subparagraph 2.01(c). 
 “LIBOR Portion” shall mean, at any time, any portion of the
Term Loan Borrowing or any portion of any Term Loan which then bears interest at a rate specified in clause (ii) of Subparagraph 2.03(d). 

  
 - 11 - 

 “LIBOR Rate” shall mean, with respect to any Interest Period for
the LIBOR Loans in any Revolving Loan Borrowing consisting of LIBOR Loans or the LIBOR Portions in any Term Loan Borrowing Portion consisting of LIBOR Portions, a rate per annum equal to the quotient of (a) the arithmetic mean (rounded upward
if necessary to the nearest 1/16 of one percent) of the rates per annum appearing on the Reuters screen LIBOR page (or any successor publication) on the second Business Day prior to the first day of such Interest Period at or about 11:00 A.M.
(London time) (for delivery on the first day of such Interest Period) for a term comparable to such Interest Period, divided by (b) one minus the Reserve Requirement for such Loans or Portions in effect from time to time. If for any
reason rates are not available as provided in clause (a) of the preceding sentence, the rate to be used in clause (a) shall be the rate per annum at which Dollar deposits are offered to Agent in the London interbank
eurodollar currency market on the second Business Day prior to the commencement of such Interest Period at or about 11:00 A.M. (London time) (for delivery on the first day of such Interest Period) for a term comparable to such Interest Period and in
an amount approximately equal to the amount of the Loan or Portion to be made or funded by Agent, as part of such Borrowing or Portion. 

“Lien” shall mean, with respect to any property, any security interest, mortgage, pledge, lien, charge or
other encumbrance in, of, or on such property or the income therefrom, including, without limitation, the interest of a vendor or lessor under a conditional sale agreement, Capital Lease or other title retention agreement, or any agreement to
provide any of the foregoing, and the filing of any financing statement or similar instrument under the Uniform Commercial Code or comparable law of any jurisdiction. 

“Loan” shall mean a Revolving Loan or a Term Loan. 

“Majority Lenders” shall mean (a) at any time Loans are outstanding and the Lenders are obligated to make
Revolving Loans pursuant to their Revolving Loan Commitments, Lenders holding more than fifty percent (50%) of the aggregate principal amount of all Loans outstanding, calculated as if Revolving Loans in the full amount of the Lenders’
Revolving Loan Commitments were outstanding, (b) at any time Loans are outstanding and the Lenders are not obligated to make Revolving Loans pursuant to their Revolving Loan Commitments, Lenders holding more than fifty percent (50%) of the
aggregate principal amount of all Loans outstanding and (c) at any time no Loans are outstanding, Lenders holding in excess of fifty percent (50%) of the Total Credit at such time. 

“Margin Stock” shall have the meaning given to that term in Regulation U issued by the Federal Reserve
Board, as amended from time to time, and any successor regulation thereto. 
 “Material Adverse Effect”
shall mean (a) any effect on the business, assets, operations or financial or other condition of Borrower and its Subsidiaries which materially and adversely affects the ability of Borrower to pay or perform the Obligations in accordance with
the terms of this Agreement and the other Credit Documents or (b) any other effect which materially and adversely affects the material rights and remedies of Agent or any Lender under this Agreement or the other Credit Documents (including the
material rights and remedies of Agent or any Lender relating to the Collateral taken as a whole). 

  
 - 12 - 

 “Membership Interests Pledge Agreement” shall have the meaning
given such term in Paragraph 2.15. 
 “Membership Interest Purchase Agreement” shall mean that certain
Membership Interest Purchase Agreement dated June 17, 2013 between Seller, Tesoro Hawaii, LLC and Holdings pursuant to which Holdings has acquired all of the issued and outstanding membership interests of Tesoro Hawaii, LLC from Seller, as
amended by that certain First Amendment to Membership Interest Purchase Agreement dated September 25, 2013. 

“MIPA Closing” shall have the meaning given such term in the Recitals. 

“MSA” shall have the meaning given such term in the Recitals. 

“Multiemployer Plan” shall mean any multiemployer plan as defined in Section 1002(37)(A) of ERISA
maintained or contributed to by Borrower or any ERISA Affiliate. 
 “Note” shall mean a Revolving Loan Note
or a Term Loan Note. 
 “Notice of Borrowing” shall mean a Notice of Revolving Loan Borrowing or a Notice of
Term Loan Borrowing. 
 “Notice of Interest Period Selection” shall mean a Notice of Revolving Loan Interest
Period Section or a Notice of Term Loan Interest Period Selection. 
 “Notice of Loan Conversion” shall mean
a Notice of Revolving Loan Conversion or a Notice of Term Loan Conversion. 
 “Notice of Revolving Loan
Borrowing” shall have the meaning given to that term in Subparagraph 2.01(c). 
 “Notice of
Revolving Loan Conversion” shall have the meaning given to that term in Subparagraph 2.01(d). 

“Notice of Revolving Loan Interest Period Selection” shall have the meaning given to that term in
Subparagraph 2.01(e). 
 “Notice of Term Loan Borrowing” shall have the meaning given to that
term in Subparagraph 2.03(c). 
 “Notice of Term Loan Conversion” shall have the meaning given
to that term in Subparagraph 2.03(e). 
 “Notice of Term Loan Interest Period Selection” shall
have the meaning given to that term in Subparagraph 2.03(f). 

  
 - 13 - 

 “Obligations” shall mean and include, with respect to Borrower,
all loans, advances, debts, liabilities, and obligations, howsoever arising, owed by Borrower to Agent or any Lender of every kind and description (whether or not evidenced by any note or instrument and whether or not for the payment of money),
direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arising pursuant to the terms of this Agreement or any of the other Credit Documents, including without limitation all interest, fees, charges, expenses,
reasonable attorneys’ fees and accountants’ fees chargeable to Borrower or payable by Borrower hereunder or thereunder. 

“Participants” shall have the meaning given to that term in Subparagraph 8.06(b). 

“PBGC” shall mean the Pension Benefit Guaranty Corporation, or any successor thereto. 

“Permitted Indebtedness” shall have the meaning given to that term in Subparagraph 5.02(a). 

“Permitted Liens” shall have the meaning given to that term in Subparagraph 5.02(b). 

“Person” shall mean and include an individual, a partnership, a corporation (including a business trust, a
limited liability company, or a limited liability partnership), a joint stock company, an unincorporated association, a joint venture, a trust or other entity or a Governmental Authority. 

“Portion” shall mean a portion of the Term Loan Borrowing or of any Term Loan which is either a Base Rate
Portion or LIBOR Portion. 
 “Pricing Grid” shall mean Schedule 1.01(a). 

“Proportionate Share” shall mean, with respect to each Lender at any time, a fraction (expressed as a
percentage rounded to the sixth digit to the right of the decimal point), the numerator of which is the sum at such time of such Lender’s Revolving Loan Commitment and Term Loan and the denominator of which is the sum at such time of the Total
Revolving Loan Commitment and the Term Loan Borrowing. 
 “Register” shall have the meaning given to that
term in Subparagraph 8.05(d). 
 “Reimbursement Obligation” shall have the meaning given to that
term in Subparagraph 2.02(c). 
 “Reimbursement Payment” shall have the meaning given to that
term in Subparagraph 2.02(c). 
 “Rents” shall mean the cash portion of payments made for real
estate leases. 
 “Reportable Event” shall have the meaning given to that term in ERISA and applicable
regulations thereunder. 

  
 - 14 - 

 “Requirement of Law” applicable to any Person shall mean
(a) the Articles or Certificate of Incorporation and By-laws, Partnership Agreement, Operating Agreement, or other organizational or governing documents or such Person, (b) any Governmental Rule applicable to such Person, (c) any
license, permit, approval or other authorization granted by any Governmental Authority to or for the benefit of such Person or (d) any final judgment, decision or determination of any Governmental Authority or arbitrator, in each case
applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject. 

“Reserve Requirement” shall mean, with respect to any day in an Interest Period for a LIBOR Loan or LIBOR
Portion, the aggregate of the reserve requirement rates (expressed as a decimal) in effect on such day for eurocurrency funding (currently referred to as “Eurocurrency liabilities” in Regulation D of the Federal Reserve Board)
maintained by a member bank of the Federal Reserve System. As used herein, the term “reserve requirement” shall include, without limitation, any basic, supplemental or emergency reserve requirements imposed on Lender by any Governmental
Authority. 
 “Retail Business” shall have the meaning given such term in the Recitals. 

“Revolving Credit Facility” shall have the meaning given to that term in Section 2.01. 

“Revolving Loan” shall have the meaning given to that term in Subparagraph 2.01(a). 

“Revolving Loan Borrowing” shall mean a borrowing by Borrower consisting of the Revolving Loans made by each
of the Lenders on the same date and of the same Type pursuant to a single Notice of Revolving Loan Borrowing. 

“Revolving Loan Commitment” shall mean, with respect to any Lender at any time, such Lender’s Revolving
Loan Proportionate Share at such time of the Total Revolving Loan Commitment at such time. 
 “Revolving Loan
Maturity Date” shall mean the date that is three (3) years after the Closing Date on which date all amounts owing under the Revolving Credit Facility are due and owing. 

“Revolving Loan Note” shall have the meaning given to that term in Subparagraph 2.08(a). 

“Revolving Loan Proportionate Share” shall mean, with respect to each Lender, the percentage set forth under
the caption “Revolving Loan Proportionate Share” opposite such Lender’s name on Schedule I, or, if different, such percentage as may be set forth for such Lender in the Register. 

“Security Agreement” shall have the meaning given to such term in Subparagraph 2.15(a). 

  
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 “Security Documents” shall mean and include the Security
Agreement, the Membership Interests Pledge Agreement, and all other instruments, agreement, certificates, opinions and documents (including Uniform Commercial Code financing statements and fixture filings and landlord waivers) delivered to Agent or
any Lender in connection with any Collateral or to secure the Obligations. 
 “Seller” shall have the
meaning given such term in the Recitals. 
 “Senior Credit Facilities” shall mean the Revolving Credit
Facility and the Term Loan Facility. 
 “Smiley’s” shall have the meaning given such term in the
Recitals. 
 “Solvent” shall mean, with respect to any Person on any date, that on such date (a) the
fair value of the property of such Person is greater than the fair value of the liabilities (including, without limitation, contingent liabilities) of such Person, (b) the present fair saleable value of the assets of such Person is not less
than the amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured, (c) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such
Person’s ability to pay as such debts and liabilities mature and (d) such Person is not engaged in business or a transaction, and is not about to engage in business or a transaction, for which such Person’s property would constitute
an unreasonably small capital. 
 “Standby LC Fee Rate” shall mean, with respect to Standby Letters of
Credit, the per annum rate which is used to calculate the Standby LC Usage Fees. 
 “Standby LC Usage Fee”
shall have the meaning given to that term in Subparagraph 2.05(d)(i). 
 “Standby Letter of
Credit” shall have the meaning given to that term in Subparagraph 2.02(a). 

“Subsidiary” of any Person shall mean (a) any corporation of which more than fifty percent (50%) of
the issued and outstanding Equity Securities having ordinary voting power to elect a majority of the Board of Directors of such corporation (irrespective of whether at the time capital stock of any other class or classes of such corporation shall or
might have voting power upon the occurrence of any contingency) is at the time directly or indirectly owned or controlled by such Person, by such Person and one or more of its other Subsidiaries or by one or more of such Person’s other
Subsidiaries, (b) any partnership, joint venture, or other association of which more than fifty percent (50%) of the equity interest having the power to vote, direct or control the management of such partnership, joint venture of other
association is at the time owned and controlled by such Person, by such Person and one or more of the other Subsidiaries or by one or more of such Person’s other Subsidiaries or (c) any other Person included in the Financial Statements or
such Person on a consolidated basis. 

  
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 “Super-Majority Lenders” shall mean (a) at any time Loans
are outstanding and the Lenders are obligated to make Revolving Loans pursuant to their Revolving Loan Commitments, Lenders holding more than sixty-six and two-thirds percent (66 2/3%) of the aggregate principal amount of all Loans outstanding,
calculated as if Revolving Loans in the full amount of the Revolving Loan Commitments were outstanding, (b) at any time Loans are outstanding and the Lenders are not obligated to make Revolving Loans pursuant to their Revolving Loan
Commitments, Lenders holding more than sixty-six and two-thirds percent (66 2/3%) of the aggregate principal amount of all Loans outstanding and (c) at any time no Loans are outstanding, Lenders holding in excess of sixty-six and two-thirds
percent (66 2/3%) of the Total Credit at such time. 
 “Taxes” shall have the meaning given to such term in
Subparagraph 2.12(a). 
 “Term Loan” shall have the meaning given that term in
Subparagraph 2.03(a). 
 “Term Loan Borrowing” shall mean the borrowing by Borrower consisting of the
Term Loans made by each of the Lenders. 
 “Term Loan Commitment” shall mean, with respect to any Lender at
any time, such Lender’s Term Loan Proportionate Share at such time of the Total Term Loan Commitment at such time. 

“Term Loan Facility” shall have the meaning given to that term in Subparagraph 2.03(a). 

“Term Loan Installment Date” shall have the meaning given to that term in Subparagraph 2.03(g).

 “Term Loan Maturity Date” shall mean the date which is seven (7) years after the Closing Date on
which date all amounts owing under the Term Loan Facility are due and owing. 
 “Term Loan Note” shall have
the meaning given to that term in Subparagraph 2.08(b). 
 “Term Loan Proportionate Share” shall
mean, with respect to each Lender, the percentage set forth under the caption “Term Loan Proportionate Share” opposite such Lender’s name on Schedule I, or, if different, such percentage as may be set forth for such Lender
in the Register. 
 “Total Credit” shall mean, at any time, the sum of (a) the Total Revolving Loan
Commitment at such time, and (b) the Total Term Loan Commitment at such time or, if the Term Loans have been made prior to such time, the aggregate principal amount of all Term Loans outstanding at such time. 

“Total Revolving Loan Commitment” shall have the meaning given to that term in
Subparagraph 2.01(a). 

  
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 “Total Term Loan Commitment” shall have the meaning given to
that term in Subparagraph 2.03(a). 
 “Trade LC Fee Rate” shall mean, with respect to Trade
Letters of Credit, the per annum rate which is determined pursuant to the Pricing Grid and used to calculate the Trade LC Usage Fees. 

“Trade LC Usage Fees” shall have the meaning given to that term in Subparagraph 2.05(e)(ii). 

“Trade Letter of Credit” shall have the meaning given to that term in Subparagraph 2.02(a). 

“Type” shall mean, with respect to any Loan, Borrowing or Portion at any time, the classification of such
Loan, Borrowing, or portion by the type of interest rate it then bears, whether an interest rate based on the Base Rate or the LIBOR Rate. 

“UCP” shall have the meaning given to that term in Subparagraph 2.02(a). 

“Unused Commitment” shall mean, at any time after this Agreement is executed by Borrower, Agent and Lenders,
the remainder of (a) the Total Revolving Loan Commitment at such time minus (b) the sum of the aggregate principal amount of all Revolving Loans then outstanding, and the aggregate amount available for drawing under all Letters of Credit
then outstanding. 
 1.02 GAAP. Unless otherwise indicated in this Agreement or any other Credit Document, all accounting terms used
in this Agreement or any other Credit Document shall be construed, and all accounting and financial computations hereunder or thereunder shall be computed, in accordance with GAAP. If GAAP changes during the term of this Agreement such that any
covenants contained herein would then be calculated in a different manner or with different components, Borrower, the Lenders and Agent agree to negotiate in good faith to amend this Agreement in such respects as are necessary to conform those
covenants as criteria for evaluating Borrower’s financial condition to substantially the same criteria as were effective prior to such change in GAAP; provided, however, that, until Borrower, the Majority Lenders and Agent so
amend this Agreement, all such covenants shall be calculated in accordance with GAAP as in effect immediately prior to such change. 
 1.03
Headings. Headings in this Agreement and each of the other Credit Documents are for convenience of reference only and are not part of the substance hereof or thereof. 

1.04 Plural Terms. All terms defined in this Agreement or any other Credit Document in the singular form shall have comparable meanings
when used in the plural form and vice versa. 
 1.05 Time. All references in this Agreement and each of the other
Credit Documents to a time of day shall mean Hawaii standard time (which is three (3) hours behind Pacific Daylight Time and two (2) hours behind Pacific Standard Time) unless otherwise indicated. 

  
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 1.06 Governing Law. This Agreement and each of the other Credit Documents (unless
otherwise provided in such other Credit Documents) shall be governed by and construed in accordance with the laws of the State of Hawaii without reference to conflicts of law rules. 

1.07 Construction. This Agreement is the result of negotiations among, and has been reviewed by, Borrower, each Lender, the Agent and
their respective counsel. Accordingly, this Agreement shall be deemed to be the product of all parties hereto, and no ambiguity shall be construed in favor of or against Borrower, any Lender or Agent. 

1.08 Entire Agreement. This Agreement and each of the other Credit Documents, taken together, constitute and contain the entire
agreement of Borrower, the Lenders and Agent and supersede any and all prior agreements, negotiations, representations, warranties, correspondence, understandings and communications among the parties, whether written or oral, respecting the subject
matter hereof including the commitment letter date as of August 29, 2013 between Borrower and Agent. 
 1.09 Calculation of Interest
and Fees. All calculations of interest and fees under this Agreement and the other Credit Documents for any period (a) shall include the first day of such period and exclude the last day of such period and (b) shall be calculated on
the basis of a year of 360 days for actual days elapsed, except that during any period any Loan bears interest based upon the Base Rate, such interest shall be calculated on the basis of a year of 365 or 366 days, as appropriate, for actual days
elapsed. 
 1.10 Other Interpretive Provisions. References in this Agreement to “Recitals,” “Sections,”
“Paragraphs,” “Subparagraphs,” “Exhibits” and “Schedules” are to recitals, sections, paragraphs, subparagraphs, exhibits and schedules herein and hereto unless otherwise indicated. References in this Agreement
and each of the other Credit Documents to any document, instrument or agreement (a) shall include all exhibits, schedules and other attachments thereto, (b) shall include all documents, instruments or agreements issued or executed in
replacement thereof and (c) shall mean such document, instrument or agreement, or replacement or predecessor thereto, as amended, modified and supplemented from time to time and in effect at any given time. The words “hereof,”
“herein” and “hereunder” and words of similar import when used in this Agreement or any other Credit Document shall refer to this Agreement or such other Credit Document, as the case may be, as a whole and not to any particular
provision of this Agreement or such other Credit Document, as the case may be. The words “include” and “including” and words of similar import when used in this Agreement or any other Credit Document shall not be construed to be
limiting or exclusive. In the event of any conflict between the terms of this Agreement and the terms of any other Credit Document, the terms of this Agreement shall govern. 

  
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	SECTION II.	CREDIT FACILITIES 

 2.01 Revolving Credit Facility. 

(a) Revolving Loan Availability. Subject to the terms and conditions of this Agreement (including the amount limitations set forth in
Paragraph 2.04), each Lender severally agrees to advance to Borrower from time to time during the period beginning on the Closing Date and ending on the Revolving Loan Maturity Date such revolving loans as Borrower may request under this
Paragraph 2.01 (individually, a “Revolving Loan”); provided, however, that (i) the aggregate principal amount of all Revolving Loans made by such Lender at any time outstanding shall not exceed such
Lender’s Revolving Loan Commitment at such time and (ii) the aggregate principal amount of all Revolving Loans made by all Lenders at any time outstanding shall not exceed Five Million Dollars ($5,000,000) (such amount, as reduced from
time to time pursuant to this Agreement, to be referred to herein as the “Total Revolving Loan Commitment”). All Revolving Loans shall be made on a pro rata basis by the Lenders in accordance with their respective Revolving Loan
Proportionate Shares, with each Revolving Loan Borrowing to be comprised of a Revolving Loan by each Lender equal to such Lender’s Revolving Loan Proportionate Share of such Revolving Loan Borrowing. Except as otherwise provided herein,
Borrower may borrow, repay and reborrow Revolving Loans until the Revolving Loan Maturity Date. 
 (b) Notice of Revolving Loan
Borrowing. Borrower shall request each Revolving Loan Borrowing by delivering to Agent an irrevocable written notice in the form of Exhibit A, appropriate completed (a “Notice of Revolving Loan Borrowing”), which
specifies, among other things: 
 (i) The principal amount of the requested Revolving Loan Borrowing, which shall be in the minimum amount
of $500,000 or an integral multiple of $500,000 in excess thereof; 
 (ii) Whether the requested Revolving Loan Borrowing is to consist of
Base Rate Loans or LIBOR Loans; 
 (iii) If the requested Revolving Loan Borrowing is to consist of LIBOR Loans, the initial Interest
Period selected by Borrower for such Revolving Loans in accordance with Subparagraph 2.01(e); and 
 (iv) The date of the
requested Revolving Loan Borrowing, which shall be a Business Day. 
 Borrower shall give each Notice of Revolving Loan Borrowing to Agent at least three
(3) Business Days before the date of the requested Revolving Loan Borrowing in the case of a Revolving Loan Borrowing consisting of LIBOR Loans and at least two (2) Business Days before the date of the requested Revolving Loan Borrowing in
the case of a Revolving Loan Borrowing consisting of Base Rate Loans. Each Notice of Revolving Loan Borrowing shall be delivered by first-class mail, facsimile or electronic mail to Agent at the office, facsimile number or email address and during
the hours specified in Paragraph 8.01; provided, however, that Borrower shall promptly deliver to Agent the original of any Notice of Revolving Loan Borrowing initially delivered by facsimile or electronic mail. Borrower
may request that one or more Revolving Loan Borrowings be made on the same day. Agent shall promptly notify each Lender of the contents of each Notice of Revolving Loan Borrowing and of the amount and Type of (and, if applicable, the Interest Period
for) each Revolving Loan to be made by such Lender as part of the requested Revolving Loan Borrowing. 

  
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 (c) Revolving Loan Interest Rates. Borrower shall pay interest on the unpaid principal
amount of each Revolving Loan from the date of such Revolving Loan until the maturity thereof, at one of the following rates per annum: 

(i) During such periods as such Revolving Loan is a Base Rate Loan, at a rate per annum equal to the Base Rate plus the Applicable
Margin therefor, such rate to change from time to time as the Applicable Margin or Base Rate shall change; and 
 (ii) During such periods
as such Revolving Loan is a LIBOR Loan, at a rate per annum equal at all times during each Interest Period for such LIBOR Loan to the LIBOR Rate for such Interest Period plus the Applicable Margin therefor, such rate to change from time to
time during such Interest Period as the Applicable Margin shall change; 
 Provided further, however, that all Revolving Loans outstanding
during the period commencing on the Closing Date and ending three (3) Business Days thereafter shall be Base Rate Loans during such period. The Applicable Margins for Revolving Loans shall be determined as provided in the Pricing Grid and may
change for each calendar quarter, with the exception that until March 31, 2014, the Applicable Margins shall be at pricing Level 2 in the Pricing Grid. All Revolving Loans in each Revolving Loan Borrowing shall, at any given time prior to
maturity, bear interest at one, and only one, of the above rates. No more than five (5) Revolving Loan Borrowings consisting of LIBOR Loans may be outstanding at any time. 

(d) Conversion of Revolving Loans. Borrower may convert any Revolving Loan Borrowing from one Type of Revolving Loan Borrowing to the
other Type. Borrower shall request such a conversion by an irrevocable written notice to Agent in the form of Exhibit B, appropriately completed (a “Notice of Revolving Loan Conversion”), which specifies, among other
things: 
 (i) The Revolving Loan Borrowing which is to be converted; 

(ii) The Type of Loans into which such Revolving Loans are to be converted; 

(iii) If such Revolving Loans are to be converted into LIBOR Loans, the initial Interest Period selected by Borrower for such Revolving Loans
in accordance with Subparagraph 2.01(e); and 
 (iv) The date of the requested conversion, which shall be a Business Day. 

Borrower shall give each Notice of Revolving Loan Conversion to Agent at least three (3) Business Days before the date of the requested conversion in the
case of a conversion into LIBOR Loans and at least two (2) Business Days before the date of the requested conversion in the case of a conversion into Base Rate Loans. Each Notice of Revolving Loan Conversion shall be delivered by first-class
mail or facsimile to Agent at the office or to the facsimile number and during the hours specified in Paragraph 8.01; provided, however, that Borrower shall promptly deliver to Agent the original of any Notice of Revolving
Loan Conversion initially delivered by facsimile. Agent shall promptly notify each Lender of the contents of each Notice of Revolving Loan Conversion. 

  
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 (e) LIBOR Loan Interest Periods. 

(i) The initial and each subsequent Interest Period selected by Borrower for a LIBOR Loan shall be thirty (30), ninety (90) or one
hundred eighty (180) days as Borrower may specify; provided, however, that (A) any such Interest Period which would otherwise end on a day which is not a Business Day shall be extended to the next succeeding Business Day
unless such next Business Day falls in another calendar month, in which case such Interest Period shall end on the immediately preceding Business Day; (B) any such Interest Period which 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 a calendar month; and (C) no such Interest Period shall end after the Revolving Loan
Maturity Date. 
 (ii) Borrower shall notify Agent by an irrevocable written notice in the form of Exhibit C, appropriately
completed (a “Notice of Revolving Loan Interest Period Selection”), at least three (3) Business Days prior to the last day of each Interest Period for LIBOR Loans of the Interest Period selected by Borrower for the next
succeeding Interest Period for such LIBOR Loans. Each Notice of Revolving Loan Interest Period Selection shall be given by first-class mail or facsimile to the office or the facsimile number and during the hours specified in
Paragraph 8.01; provided, however, that Borrower shall promptly deliver to Agent the original of any Notice of Revolving Loan Interest Period Selection initially delivered by facsimile. If Borrower fails to notify Agent of
the next Interest Period for LIBOR Loans in accordance with this Subparagraph 2.01(e), such LIBOR Loans shall automatically convert to LIBOR Loans having an Interest Period of thirty (30) days on the last day of the current Interest
Period therefor. 
 (f) Scheduled Revolving Loan Payments. Borrower shall repay the unpaid principal amount of all Revolving Loans on
the Revolving Loan Maturity Date. Borrower shall pay accrued and billed interest on the unpaid principal amount of the Revolving Loans in arrears (i) in the case of Base Rate Loans, on the last Business Day in each calendar month; (ii) in
the case of LIBOR Loans, (A) on the last day of each Interest Period therefor (and, if any such Interest Period is longer than three (3) months, every three (3) months after the first day of such Interest Period) and (B) upon
prepayment (to the extent thereof); and (iii) in the case of all Revolving Loans, on the Revolving Loan Maturity Date. 
 (g)
Purpose. Borrower shall use the proceeds of the Revolving Loans for Borrower’s working capital needs, general corporate purposes and to repay Borrower’s Obligations under this Agreement. 

  
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 2.02 Letter of Credit Facility. 

(a) Letter of Credit Availability. Subject to the terms and conditions of this Agreement (including the amount limitations set forth in
Paragraph 2.04), Agent (in its capacity as the issuer of letters of credit under this Paragraph 2.02, “Issuing Bank”) agrees to issue on behalf of Borrower from time to time during the period beginning on the
Closing Date and ending on the Revolving Loan Maturity Date such letters of credit as Borrower may request under this Paragraph 2.02 (individually, a “Letter of Credit”); provided, however, as follows: 

(i) At no time shall the aggregate principal amount available for drawing under all Letters of Credit at any time outstanding plus the
principal amount of all Revolving Loans outstanding exceed the Total Revolving Loan Commitment. 
 (ii) Each Letter of Credit shall be
(A) an irrevocable Letter of Credit issued for the benefit of a supplier of inventory to Borrower to secure the payment by Borrower of the purchase price of such inventory upon Borrower’s receipt thereof (a “Trade Letter of
Credit”) or (B) an irrevocable standby Letter of Credit issued to secure trade payables in the ordinary course of Borrower’s business (provided such trade payables are not overdue on the date of issuance of such Letter of Credit)
or other obligations of Borrower (other than (1) trade payables of Borrower which are overdue on the date of issuance of such Letter of Credit or (2) any other Funded Debt) (a “Standby Letter of Credit”). 

(iii) Each Trade Letter of Credit shall expire on or prior to the earlier of (A) one hundred and eighty (180) days after its date
of issuance and (B) the Revolving Loan Maturity Date. Each Standby Letter of Credit shall expire on or prior to the earlier of (1) one year after its date of issuance and (2) the Revolving Loan Maturity Date. 

(iv) Except as otherwise provided herein, each Letter of Credit shall be governed by the Uniform Customs and Practices for Documentary
Credits as most recently published by the International Chamber of Commerce (the “UCP”) prior to the date of issuance of such Letter of Credit and the terms of the UCP are hereby incorporated by reference with respect to each Letter
of Credit. 
 (v) Each Letter of Credit shall be in a form reasonably acceptable to Issuing Bank. 

Except as otherwise provided herein, Borrower may request Letters of Credit, cause or allow Letters of Credit to expire and request additional Letters of
Credit until the Revolving Loan Maturity Date. 
 (b) LC Application. Borrower shall request each Letter of Credit by delivering to
Issuing Bank an irrevocable written application in a form reasonably acceptable to Issuing Bank, appropriately completed (an “LC Application”), which specifies, among other things: 

(i) The stated amount of the requested Letter of Credit; 

(ii) The name and address of the beneficiary of the requested Letter of Credit; 

(iii) The expiration date of the requested Letter of Credit; 

  
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 (iv) The documentary conditions for drawing under the requested Letter of Credit; 

(v) The date of issuance for the requested Letter of Credit, which shall be a Business Day; and 

(vi) The aggregate amount available for drawing under all Letters of Credit then outstanding. 

Borrower shall give each LC Application to Issuing Bank at least three (3) Business Days before the proposed date of issuance of the requested Letter of
Credit. Each LC Application shall be delivered by first-class mail or facsimile to Agent at the office or facsimile number and during the hours specified in Paragraph 8.01; provided, however, that Borrower shall promptly
deliver to Issuing Bank the original of any LC Application initially delivered by facsimile. Agent shall promptly notify each Lender of the contents of each LC Application. In the event of any conflict between the terms of this Agreement and the
terms of the LC Application, the terms of this Agreement shall control. 
 (c) Disbursement and Reimbursement. 

(i) Disbursement. Issuing Bank will notify Borrower by facsimile forthwith upon receipt of the presentment of any demand for payment
under any Letter of Credit, together with notice of the amount of such payment and the date such payment shall be made. Subject to the terms and provisions of such Letter of Credit, Issuing Bank shall make such payment (a “Drawing
Payment”) to the appropriate beneficiary. 
 (ii) Time of Reimbursement. Not later than 11:00 a.m. on the day following
each Drawing Payment made by Issuing Bank, Borrower shall make or cause to be made to Issuing Bank a payment in the amount of such Drawing Payment (a “Reimbursement Payment”), together with any accrued interest thereon as provided
below; provided, however, that (1) Borrower shall make such Reimbursement Payment to, or cause such Reimbursement Payment to be made to, Agent for the benefit of the Lenders if, prior to the time such Reimbursement Payment is
made, Issuing Bank has notified Borrower that it has requested the Lenders pursuant to clause (ii) of Subparagraph 2.02(d) to pay to Issuing Bank their respective Revolving Loan Proportionate Shares of the Drawing Payment made by
Issuing Bank and (2) Borrower shall pay interest on the amount of any Reimbursement Payment not paid on the same day as the applicable Drawing Payment at a per annum rate equal to (y) for the first day, the rate then applicable to
Revolving Loans which are Base Rate Loans and (z) for the second day and any subsequent day, the rate then applicable to Revolving Loans which are Base Rate Loans plus two percent (2%) per annum. If any such Reimbursement Payment is made
to Agent, Agent shall promptly pay to each Lender which has paid its Revolving Loan Proportionate Share of the Drawing Payment, such Lender’s Revolving Loan Proportionate Share of the Reimbursement Payment and shall promptly pay to Issuing Bank
the balance of such Reimbursement Payment. 

  
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 (iii) Reimbursement Obligation Absolute. The obligation of Borrower to reimburse Issuing
Bank or the Lenders, as the case may be, for Drawing Payments (such obligation, together with the obligation to pay interest thereon, to be referred to herein collectively as a “Reimbursement Obligation”) shall be absolute,
unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under and without regard to any circumstances, including, without limitation (A) any lack of validity or enforceability of any of the
Credit Documents, (B) the existence of any claim, setoff, defense or other right which Borrower may have at any time against any beneficiary or any transferee of any Letter of Credit (or any Persons for whom any such beneficiary or transferee
may be acting), Issuing Bank, any Agent, any other Lender or any other Person, whether in connection with this Agreement, the transactions contemplated herein or in the other Credit Documents, or in any unrelated transaction, (C) any breach of
contract or dispute between Borrower, any beneficiary or any transferee of any Letter of Credit (or any Persons for whom any such beneficiary or transferee may be acting), Issuing Bank, any Agent, any other Lender or any other Person, (D) any
demand, statement or other document presented under any 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, (E) payment by Issuing Bank
under any Letter of Credit against presentation of a demand for payment which does not comply with the terms of such Letter of Credit, (F) any non application or misapplication by any beneficiary or any transferee of any Letter of Credit (or
any Persons for whom any such beneficiary or transferee may be acting) of the proceeds of any drawing under such Letter of Credit or (G) any delay, extension of time, renewal, compromise or other indulgence or modification granted or agreed to
by Issuing Bank, any Agent or any other Lender, with or without notice to or approval by Borrower, with respect to Borrower’s indebtedness under this Agreement; provided, however, that this Subparagraph 2.02(c) shall
not abrogate any right which Borrower may have to seek to enjoin any drawing under any Letter of Credit or to recover damages from Issuing Bank pursuant to Subparagraph 2.02(e). 

(d) Lender Participations; Revolving Loan Funding. 

(i) Participation Agreement. Each Lender severally, unconditionally and irrevocably agrees with Issuing Bank to participate in the
extension of credit arising from the issuance of each Letter of Credit in an amount equal to such Lender’s Revolving Loan Proportionate Share of the stated amount of such Letter of Credit from time to time, and the issuance of each Letter of
Credit shall be deemed a confirmation by Issuing Bank of such participation in such amount; provided, however, that at the time of such issuance the amount limitations set forth in Paragraph 2.04 are not exceeded. 

(ii) Participation Funding. Issuing Bank may request the Lenders to fund their participations in Letters of Credit by paying to
Issuing Bank all or any portion of any Drawing Payment made or to be made by Issuing Bank under any Letter of Credit. Issuing Bank shall make such a request by delivering to Agent (with a copy to Borrower), at any time after the drawing for which
such payment is requested has been made upon Issuing Bank, a written request for such payment which specifies the amount of such Drawing Payment and the date on which such Drawing Payment is to be made or was made; provided, however,
that Issuing Bank shall not request the Lenders to make any payment under this Subparagraph 2.02(d) in connection with any portion of a Drawing Payment for which Issuing Bank has been reimbursed from a Reimbursement Payment by Borrower
unless such Reimbursement Payment has been thereafter recovered by Borrower. Agent shall promptly notify each Lender of the contents of each such request and of such Lender’s Revolving Loan Proportionate Share of the applicable portion of such
Drawing Payment. Promptly following receipt of such notice from Agent, each Lender shall pay to Agent, for the benefit of Issuing Bank, such Lender’s Revolving Loan Proportionate Share of the applicable portion of such Drawing Payment. 

  
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 (iii) Funding Through Revolving Loans. At any time any Reimbursement Obligations are
outstanding, Agent may or, upon the written request of Issuing Bank (if Borrower is not then the subject of a bankruptcy proceeding), shall (subject to the terms and conditions of this Subparagraph 2.02(d)), initiate a Revolving Loan
Borrowing in an amount not exceeding the aggregate amount of such outstanding Reimbursement Obligations and use the proceeds of such Revolving Loan Borrowing to repay all or a portion of such Reimbursement Obligations. Agent shall initiate such a
Borrowing by delivering to each Lender (with a copy to Borrower) a written notice which specifies the aggregate amount of outstanding Reimbursement Obligations, the amount of the Revolving Loan Borrowing (which initially shall consist of Base Rate
Loans), the date of such Revolving Loan Borrowing and the amount of the Revolving Loan to be made by such Lender as part of such Revolving Loan Borrowing. Each Lender shall make available to Agent funds in the amount of its Revolving Loan as
provided in Subparagraph 2.09(a). After receipt of such funds, Agent shall promptly disburse such funds to Issuing Bank and the Lenders, as appropriate, in payment of the outstanding Reimbursement Obligations. 

(iv) Obligations Absolute. Each Lender’s obligations to fund its participations under this Subparagraph 2.02(d) shall be
absolute, unconditional and irrevocable and shall not be affected by (A) the occurrence or existence of any Default or Event of Default, (B) any failure to satisfy any condition set forth in Section III, (C) any event or
condition which might have a Material Adverse Effect, (D) the failure of any other Lender to make any payment under this Subparagraph 2.02(d), (E) any right of offset, abatement, withholding or reduction which such Lender may have
against Issuing Bank, Agent, any other Lender or Borrower, (F) any event, circumstance or condition set forth in Subparagraph 2.02(c) or Subparagraph 2.02(e), or (G) any other event, circumstance or condition whatsoever,
whether or not similar to any of the foregoing; provided, however, that nothing in this Paragraph 2.02 shall prejudice any right which any Lender may have against Issuing Bank for any action by Issuing Bank which constitutes
gross negligence or willful misconduct. 
 (e) Liability of Issuing Bank, Etc. Borrower agrees that none of Issuing Bank, Agent or
any other Lender (nor any of their respective directors, officers or employees) shall be liable or responsible for (i) the use which may be made of any Letter of Credit or for any acts or omissions of any beneficiary or transferee thereof in
connection therewith; (ii) any reference which may be made to this Agreement or to any Letter of Credit in any agreements, instruments or other documents relating to obligations secured by such Letter of Credit; (iii) the validity,
sufficiency or genuineness of documents, or of any endorsement(s) thereon, even if such documents should in fact prove to be in any or all respects invalid, insufficient, fraudulent or forged or any statement therein prove to be untrue or inaccurate
in any respect whatsoever; (iv) payment by Issuing Bank against presentation of documents which do not comply with the terms of any Letter of Credit, including failure of any documents to bear any reference or adequate reference to any Letter
of Credit; or (v) any other circumstances whatsoever in making or failing to make payment under any Letter of Credit, except only that Issuing Bank shall be liable to Borrower for acts or events described in clauses (i) through
(v) above, to the extent, but only to the extent, of any damages suffered by Borrower (excluding consequential damages) which Borrower proves were caused by (A) Issuing Bank’s willful misconduct, bad faith or gross negligence in
determining whether a drawing made under any Letter of Credit complies with the terms and conditions therefor stated in such Letter of Credit or (B) Issuing Bank’s willful misconduct, bad faith or gross negligence in failing to pay under
any Letter of Credit after a drawing by the beneficiary thereof strictly complying with the terms and conditions of such Letter of Credit. Without limiting the foregoing, Issuing Bank may accept a drawing that appears on its face to be in order,
without responsibility for further investigation. The determination of whether a drawing has been made under any Letter of Credit prior to its expiration or whether a drawing made under any Letter of Credit is in proper and sufficient form shall be
made by Issuing Bank in its sole discretion, which determination shall be conclusive and binding upon Borrower to the extent permitted by law. Borrower hereby waives any right to object to any payment made under any Letter of Credit with regard to a
drawing that is in the form provided in such Letter of Credit but which varies with respect to punctuation, capitalization, spelling or similar matters of form. 

  
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 (f) Reports of Issuing Bank. Issuing Bank shall on a monthly basis provide to Agent or any
Lender such information regarding the Letters of Credit as Agent or such Lender may reasonably request, including the Letters of Credit outstanding, the stated amounts of outstanding Letters of Credit, the expiration dates of outstanding Letters of
Credit, the names of the beneficiaries of outstanding Letters of Credit, the amounts of unpaid Reimbursement Obligations and the amounts and times of Drawing Payments and Reimbursement Payments. 

(g) Purpose. Borrower shall use Trade Letters of Credit and Standby Letters of Credit solely as provided in clause (ii) of
Subparagraph 2.02(a). 
 2.03 Term Loan Facility. 

(a) Term Loan Availability. Subject to the terms and conditions of this Agreement, each Lender severally agrees to advance to Borrower
a term loan under this Paragraph 2.03 (individually, a “Term Loan”) in the principal amount of such Lender’s Term Loan Commitment; provided, however, that the aggregate principal amount of all Term Loans
made by all Lenders shall not exceed Thirty Million Dollars ($30,000,000) (such amount to be referred to herein as the “Total Term Loan Commitment”). The Term Loans shall be made on a pro rata basis by the Lenders in accordance with
their respective Term Loan Proportionate Shares, with the Term Loan Borrowing to be comprised of a Term Loan by each Lender equal to such Lender’s Term Loan Proportionate Share of the Term Loan Borrowing. Each Lender shall advance its Term Loan
in a single advance. Borrower may not reborrow the principal amount of a Term Loan after repayment or prepayment thereof. 
 (b) Initial
Term Loan Availability. Subject to the terms and conditions of this Agreement, each Lender severally agrees to advance to Borrower on the Closing Date a Term Loan in the principal amount of such Lender’s Term Loan Commitment in the amount
of Twenty-Six Million Dollars ($26,000,000) (such amount to be referred to herein as the “Initial Term Loan Commitment”). The Borrower will not be entitled to borrow the remaining Four Million Dollars ($4,000,000) of the Total Term
Loan Commitment until such time as Borrower and Smiley’s have obtained liquor licenses for each and every location at which the Retail Business is operated and a liquor license is required. Borrower’s ability to draw the remaining Four
Million Dollars ($4,000,000) of the Total Term Loan Commitment shall expire on December 31, 2014. 

  
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 (c) Notice of Term Loan Borrowing. Borrower shall request the Term Loan Borrowing by
delivering to Agent an irrevocable written notice in the form of Exhibit D, appropriately completed (a “Notice of Term Loan Borrowing”). Borrower shall give the Notice of Term Loan Borrowing to Agent at least two
(2) Business Days before the Closing Date and any other date upon which Borrower desires to obtain a Term Loan. The Notice of Term Loan Borrowing shall be delivered by first class mail, facsimile or electronic mail to Agent at the office,
facsimile number or email address and during the hours specified in Paragraph 8.01; provided, however, that Borrower shall promptly deliver to Agent the original of the Notice of Term Loan Borrowing if initially delivered by
facsimile or electronic mail. Agent shall promptly notify each Lender of the contents of the Notice of Term Loan Borrowing. 
 (d) Term
Loan Interest Rates. Borrower shall pay interest on the unpaid principal amount of each Term Loan from the date of such Term Loan until the Term Loan Maturity Date, at the following rates per annum: 

(i) During such periods as any portion of such Term Loan is a Base Rate Portion, at a rate per annum on such Portion equal to the Base Rate
plus the Applicable Margin therefor, such rate to change from time to time as the Applicable Margin or Base Rate shall change; and 

(ii) During such periods as any portion of such Term Loan is a LIBOR Portion, at a rate per annum on such Portion equal at all times during
each Interest Period for such Portion to the LIBOR Rate for such Interest Period plus the Applicable Margin therefor, such rate to change from time to time as the Applicable Margin shall change; 

Provided, however, that all portions of the Term Loans outstanding during the period commencing on the Closing Date and ending three
(3) Business Days thereafter shall be Base Rate Portions during such period. The Applicable Margins for Base Rate Portions and LIBOR Portions of Term Loans shall be determined as provided in the Pricing Grid and may change for each calendar
quarter, with the exception that until March 31, 2014 the Applicable Margins shall be at pricing Level 2 in the Pricing Grid. Each Portion of the Term Loan Borrowing shall be in a minimum amount of $1,000,000 or an integral multiple of
$100,000 in excess thereof (except to the extent that any lesser Portion results from a mandatory prepayment of the Term Loan Borrowing pursuant to Subparagraph 2.06(c)). No more than seven (7) LIBOR Portions may be outstanding at any
time. 
 (e) Conversion of Term Loans. Borrower may convert any Portion of the Term Loan Borrowing from one Type of Portion to
another Type. Borrower shall request such a conversion by an irrevocable written notice to Agent in the form of Exhibit E, appropriately completed (a “Notice of Term Loan Conversion”), which specifies, among other things:

 (i) The Portion of the Term Loan Borrowing which is to be converted; 

  
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 (ii) The amount and Type of each Portion of the Term Loan Borrowing into which it is to be
converted; 
 (iii) If any Portion of the Term Loan Borrowing is to be converted into a LIBOR Portion, the initial Interest Period selected
by Borrower for such Portion in accordance with Subparagraph 2.03(f); and 
 (iv) The date of the requested conversion, which shall
be a Business Day. 
 Borrower shall give each Notice of Term Loan Conversion to Agent at least three (3) Business Days before the date of the
requested conversion in the case of any conversion into LIBOR Portions and at least two (2) Business Days before the date of the requested conversion in the case of any conversion into Base Rate Portions. Each Notice of Term Loan Conversion
shall be delivered by first class mail or facsimile to Agent at the office or to the facsimile number and during the hours specified in Paragraph 8.01; provided, however, that Borrower shall promptly deliver to Agent the
original of any Notice of Term Loan Conversion initially delivered by facsimile. Agent shall promptly notify each Lender of the contents of each Notice of Term Loan Conversion. 

(f) LIBOR Portion Interest Periods. 

(i) The initial and each subsequent Interest Period selected by Borrower for all Portions of a Term Loan Borrowing or a Term Loan consisting
of LIBOR Portions shall be thirty (30), ninety (90) or one hundred eighty (180) as Borrower may specify; provided, however, that (A) any such Interest Period which would otherwise end on a day which is not a Business Day
shall be extended to the next succeeding Business Day unless such next Business Day falls in another calendar month, in which case such Interest Period shall end on the immediately preceding Business Day; (B) any such Interest Period which
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 a calendar month; and (C) no
such Interest Period shall end after the Term Loan Maturity Date. 
 (ii) Borrower shall notify Agent by an irrevocable written notice in
the form of Exhibit F, appropriately completed (a “Notice of Term Loan Interest Period Selection”), at least three (3) Business Days prior to the last day of each Interest Period for the Portions of a Term Loan Borrowing
or a Term Loan consisting of LIBOR Portions of the Interest Period selected by Borrower for the next succeeding Interest Period for such Portions. Each Notice of Term Loan Interest Period Selection shall be given by first class mail, facsimile or
electronic mail to the office, the facsimile number or email address and during the hours specified in Paragraph 8.01; provided, however, that Borrower shall promptly deliver to Agent the original of any Notice of Term Loan
Interest Period Selection initially delivered by facsimile or electronic mail. If Borrower fails to notify Agent of the next Interest Period for the LIBOR Portions in any such Term Loan Borrowing or Term Loan in accordance with this Subparagraph
2.03(e), such Portions shall automatically convert to LIBOR Loans having an Interest Period of thirty (30) days on the last day of the current Interest Period therefor. 

  
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 (g) Scheduled Term Loan Payments. Borrower shall repay the principal amount of the Term
Loans in twenty-eight (28) quarterly installments payable on the last day in each March, June, September and December (commencing December 31, 2013, and ending on June 30, 2020) and on the Term Loan Maturity Date (each such date to be
referred to herein as a “Term Loan Installment Date”). Upon disbursement of the Initial Term Loan Commitment, the quarterly installments of principal shall be in the amount of SIX HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS
($650,000.00), and upon disbursement of the remaining balance of the Term Loan Commitment the quarterly installments of principal shall be in the amount of SEVEN HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS ($750,000.00); 

Provided, however, that the principal payment due on the Term Loan Maturity Date shall be in the amount necessary to pay all remaining unpaid
principal, interest and all other charges owing on all Term Loans. Borrower shall pay accrued interest on the unpaid principal amount of the Term Loans in arrears (A) in the case of Base Rate Portions, on the last Business Day in each calendar
month, (B) in the case of LIBOR Portions, (1) on the last day of each Interest Period therefor (and, if any such Interest Period is longer than three (3) months, every three (3) months after the first day of such Interest Period)
and (2) upon prepayment (to the extent thereof); and (C) in the case of all Term Loans, on the Term Loan Maturity Date. 
 (h)
Purpose. Borrower shall use the proceeds of the Term Loans for (i) working capital, capital expenditures and other lawful purposes, and (ii) to finance the acquisition of the Retail Business by Borrower. 

2.04 Additional Commitment Reductions, Etc. 

(a) Optional Reduction or Cancellation of Commitments. Borrower may, upon three (3) Business Days written notice to Agent,
permanently reduce the Total Revolving Loan Commitment by the amount of Five Hundred Thousand Dollars ($500,000) or an integral multiple thereof or cancel the Total Revolving Loan Commitment in its entirety; provided, however, that:

 (i) Borrower may not reduce the Total Revolving Loan Commitment if, after giving effect to such reduction, the aggregate principal
amount of all Revolving Loans then outstanding, the aggregate amount available for drawings under all Letters of Credit then outstanding, and the aggregate amount of all Reimbursement Obligations then outstanding (such sum to be referred to herein
as the “Outstanding Revolving Facilities Credit”) would exceed the Total Revolving Loan Commitment as so reduced; and 

(ii) Borrower may not cancel the Total Revolving Loan Commitment if, after giving effect to such cancellation, any Revolving Loan or Letter
of Credit would remain outstanding. 
 (b) Effect of Commitment Reductions. From the effective date of any reduction of the Total
Revolving Loan Commitment, the Unused Commitment Fees payable pursuant to Subparagraph 2.05(c) shall be computed on the basis of the Total Revolving Loan Commitment as so reduced. Once reduced or cancelled, the Total Revolving Loan Commitment
may not be increased or reinstated without the prior written consent of Agent and all Lenders. Any reduction of the Total Revolving Loan Commitment pursuant to this Paragraph 2.04 shall be applied ratably to reduce each Lender’s
Revolving Loan Commitment in accordance with clause (i) of Subparagraph 2.10(a). 

  
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 2.05 Fees. 

(a) Arrangement Fee. Borrower shall pay to Agent on the Closing Date, for its own account, an arrangement fee (the “Arrangement
Fee”) equal to one-quarter of one percent (0.25%) of the sum of the Total Credit. 
 (b) Commitment Fees. Borrower shall pay to
Agent on the Closing Date, for the ratable benefit of the Lenders as provided in clause (vi) of Subparagraph 2.10(a), a nonrefundable commitment fee (the “Commitment Fee”) equal to one-quarter of one percent (0.25%) of
the sum of the Total Credit. 
 (c) Unused Commitment Fee. Borrower shall pay to Agent, for the ratable benefit of the Lenders as
provided in clause (vi) of Subparagraph 2.10(a), a non-refundable fee on the Unused Commitment (the “Unused Commitment Fee”) equal to the Commitment Fee Percentage on the daily average Unused Commitment for the
period beginning on the Closing Date and ending on the Revolving Loan Maturity Date. The Commitment Fee Percentage shall be determined as provided in the Pricing Grid and may change for each calendar quarter, with the exception that until the
calendar quarter ending March 31, 2014, the Commitment Fee Percentage shall be at pricing Level 2 on the Pricing Grid. Borrower shall pay the Unused Fees quarterly in arrears within three (3) Business Days following the last day in
each calendar quarter and on the Revolving Loan Maturity Date. 
 (d) Agent Fee. The Borrower shall pay to Agent an annual agent fee
(the “Agent Fee”) in the amount of $10,000 for the administration of the Senior Credit Facilities on behalf of the Lenders. The Agent Fee will be due and payable annually, commencing on the date which is one (1) year after the
Closing Date. The Agent Fee shall be payable to the Agent for its own account. 
 (e) Letter of Credit Fees. 

(i) Standby Letter of Credit Usage Fees. Borrower shall pay to Agent, for the ratable benefit of the Lenders as provided in clause
(vii) of Subparagraph 2.10(a), nonrefundable letter of credit fees for the Standby Letters of Credit (the “Standby LC Usage Fees”) equal to the Standby LC Fee Rate on the daily average available amount of each Standby
Letter of Credit for the period beginning on the date such Standby Letter of Credit is issued and ending on the date such Standby Letter of Credit expires. The Standby LC Fee Rate shall be equal to the standard Standby LC Fee Rate charged by Issuing
Bank. Borrower shall pay the Standby LC Usage Fees quarterly in arrears within three (3) Business Days following the last day in each calendar quarter and on the Revolving Loan Maturity Date. 

(ii) Trade Letter of Credit Usage Fees. Borrower shall pay to Agent, for the ratable benefit of the Lenders as provided in clause
(vii) of Subparagraph 2.10(a), nonrefundable letter of credit fees for the Trade Letters of Credit (the “Trade LC Usage Fees”) equal to the Trade LC Fee Rate on the daily average available amount of each Trade Letter of
Credit for the period beginning on the date such Trade Letter of Credit is issued and ending on the date such Trade Letter of Credit expires. The Trade LC Fee Rate shall be equal to the Applicable LIBOR Margin for the Revolving Credit Facility in
the Pricing Grid Level 1. Borrower shall pay the Trade LC Usage Fees quarterly in arrears within three (3) Business Days following the last day in each calendar quarter and on the Revolving Loan Maturity Date. 

  
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 (iii) Letter of Credit Issuance Fees. Borrower shall pay to Agent, for the sole benefit
of Issuing Bank, nonrefundable issuance fees for the Letters of Credit (the “LC Issuance Fees”) equal to (A) in the case of each Standby Letter of Credit, one hundred dollars ($100) and (B) in the case of each Trade Letter
of Credit, Issuing Bank’s then current standard issuance fee rate for trade letters of credit on the original stated amount of each Trade Letter of Credit for the period beginning on the date such Trade Letter of Credit is issued and ending on
the date such Trade Letter of Credit expires. Borrower shall pay the LC Issuance Fees for each Standby Letter of Credit in advance on the date of issuance of such Standby Letter of Credit. Borrower shall pay the LC Issuance Fees for each Trade
Letter of Credit in advance on the date of issuance of such Letter of Credit. 
 (iv) Other Letter of Credit Fees. In addition to
the Standby LC Usage Fees, the Trade LC Usage Fees and the LC Issuance Fees, Borrower shall pay to Agent, for the benefit of Issuing Bank, other standard fees of Issuing Bank for drawings under, transfers of and amendments to any Letter of Credit
and other administrative actions performed by Issuing Bank in connection with any Letter of Credit, payable at such times and in such amounts as are consistent with Issuing Bank’s standard fee policy at the time of such amendment or other
action. 
 2.06 Prepayments. 

(a) Terms of All Prepayments. Upon the prepayment of any Loan (whether such prepayment is an optional prepayment under Subparagraph
2.06(b), a mandatory prepayment required by Subparagraph 2.06(c) or a mandatory prepayment required by any other provision of this Agreement or the other Credit Documents, including, without limitation, a prepayment upon acceleration),
Borrower shall pay to the Agent for the benefit of the Lenders which made such Loan (i) all accrued interest to the date of such prepayment on the amount prepaid (except that no such payment of interest shall be required upon the prepayment of
a Base Rate Loan unless such prepayment occurs in connection with a reduction or termination of the Total Revolving Loan Commitment), and (ii) if such prepayment is the prepayment of a LIBOR Loan or a LIBOR Portion on a day other than the last
day of an Interest Period for such Loan or Portion, all amounts payable to such Lender pursuant to Paragraph 2.13. 
 (b) Optional
Prepayments. At its option, Borrower may, upon one (1) Business Day notice to Agent, prepay any Borrowing in part, in an aggregate principal amount of $1,000,000 or more in the case of the Term Loan Borrowing or $100,000 or more in the case
of a Revolving Loan Borrowing (or, in each case, such lesser amount as may be outstanding at such time), or in whole. 

  
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 (c) Mandatory Prepayments. Borrower shall prepay the Loans as follows: 

(i) One hundred percent (100%) of the cash proceeds, net of payment of ordinary and reasonable expenses and taxes to the extent such
taxes are actually paid, of all sales of assets by Borrower or any Subsidiary of Borrower not in the ordinary course of business (including the sale of membership interests in Borrower or any Subsidiary of Borrower), to the extent the net cash
proceeds of the sale of any single asset exceed $500,000, which mandatory prepayment shall be due within ten (10) Business Days of the closing of such sale, and all such prepayments from net sales proceeds shall be applied to the outstanding
principal balance of the Term Loan Facility. 
 (ii) One hundred percent (100%) of the net cash proceeds of any casualty, condemnation
or insurance proceeds received by Borrower or any Subsidiary of Borrower, to the extent that such casualty, condemnation or insurance proceeds are not reasonably required by Borrower for replacement, acquisition or redeployment, which mandatory
prepayment shall be due within ten (10) Business Days of the receipt of such proceeds to the extent that the net cash proceeds exceed $500,000 in any fiscal year and all such repayments from such proceeds shall be applied to the outstanding
principal balance of the Term Loan Facility. 
 (iii) If, for Borrower’s fiscal year ending December 31, 2014 or any fiscal year
thereafter, Borrower has Excess Cash Flow based on the annual fiscal year end audited financial statements for such fiscal year, within one hundred and eighty (180) days after the such fiscal year end Borrower shall prepay Loans in an aggregate
principal amount equal to (1) fifty percent (50%) of such Excess Cash Flow if the Leverage Ratio is equal to or greater than 4.50 to 1.00, or (2) zero percent (0%) of such Excess Cash Flow if the Leverage Ratio is less than 4.50 to
1.00 (“Excess Cash Flow Recapture”), with all mandatory prepayments made by Borrower pursuant to this clause (iv) applied to the outstanding principal balance of the Term Loan Facility. 

(d) Other Prepayment Application Requirements. All mandatory prepayments made by Borrower pursuant to Subparagraph 2.06(c) which
are applied to the Term Loan Facility shall reduce the aggregate principal amount payable by Borrower on the then remaining Term Loan Installment Dates, in inverse order of maturity. All optional prepayments made by Borrower pursuant to
Subparagraph 2.06(b) which are applied to the Term Loan Facility shall reduce the aggregate principal amount payable by Borrower on the then remaining Term Loan Installment Dates in the order due. Without modifying the order of application of
prepayments set forth above: 
 (i) All prepayments of the Revolving Loans shall, to the extent possible, be first applied to prepay Base
Rate Loans and then, if any funds remain, to prepay LIBOR Loans. Unless an Event of Default has occurred and is continuing, Borrower may select the Revolving Loan Borrowings against which any such prepayments of LIBOR Loans are to be applied. 

(ii) All prepayments of the Term Loans shall, to the extent possible, be first applied to prepay Base Rate Portions and then, if any funds
remain, to prepay LIBOR Portions. Unless an Event of Default has occurred and is continuing, Borrower may select the LIBOR Portions against which any such prepayments are to be applied. 

  
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 2.07 Other Payment Terms. 

(a) Place and Manner. Except as otherwise expressly provided herein, Borrower shall make all payments due to each Lender hereunder by
payments to Agent, for the account of such Lender and such Lender’s Applicable Lending Office, at Agent’s office, located at the address specified in Paragraph 8.01, in lawful money of the United States and in same day or
immediately available funds not later than 10:00 a.m. on the date due. Agent shall promptly disburse to each Lender each such payment received by Agent for such Lender. 

(b) Date. Whenever any payment due hereunder shall fall due on a day other than a Business Day, such payment shall be made on the next
succeeding Business Day, and such extension of time shall be included in the computation of interest or fees, as the case may be. 
 (c)
Late Payments. If any amounts required to be paid by Borrower under this Agreement or the other Credit Documents (including, without limitation, principal or interest payable on any Loan, Reimbursement Payments or interest thereon, any fees
or other amounts) remain unpaid after such amounts are due, Borrower shall pay interest on the aggregate, outstanding balance of such amounts from the date due until those amounts are paid in full at the per annum rate which would then be applicable
to Base Rate Loans plus two percent (2%), such rate to change from time to time as the Base Rate or Applicable Margin shall change. 

(d) Application of Payments. Unless otherwise specified herein or in the other Credit Documents, all payments hereunder shall be
applied first to unpaid fees, costs and expenses then due and payable under this Agreement or the other Credit Documents, second to accrued interest then due and payable under this Agreement or the other Credit Documents, third to any unpaid
Reimbursement Obligations and finally to reduce the principal amount of outstanding Loans. 
 (e) Failure to Pay Agent. Unless Agent
shall have received notice from Borrower prior to the date on which any payment is due to any Lender hereunder that Borrower will not make such payment in full, Agent may assume that Borrower has made such payment in full to Agent on such date and
Agent may, in reliance upon such assumption, cause to be distributed to the appropriate Lenders on such due date an amount equal to the amount then due such Lenders. If and to the extent Borrower shall not have so made such payment in full to Agent,
each such Lender shall repay to Agent forthwith on demand such amount distributed to such Lender together with interest thereon, for each day from the date such amount is distributed to such Lender until the date such Lender repays such amount to
Agent, at the Federal Funds Rate. A certificate of Agent submitted to any Lender with respect to any amounts owing by such Lender under this Subparagraph 2.07(e) shall be conclusive absent manifest error. 

  
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 2.08 Notes and Interest Account. 

(a) Revolving Loan Notes. The obligation of Borrower to repay the Revolving Loans made by each Lender and to pay interest thereon at
the rates provided herein shall be evidenced by a promissory note in the form of Exhibit G (individually, a “Revolving Loan Note”) which note shall be (i) payable to the order of such Lender, (ii) in the amount
of such Lender’s Revolving Loan Commitment, (iii) dated the Closing Date and (iv) otherwise appropriately completed. Borrower authorizes each Lender to record on the schedule annexed to such Lender’s Revolving Loan Note the date
and amount of each Revolving Loan made by such Lender and of each payment or prepayment of principal thereon made by Borrower, and agrees that all such notations shall constitute prima facie evidence of the matters noted. Borrower further authorizes
each Lender to attach to and make a part of such Lender’s Revolving Loan Note continuations of the schedule attached thereto as necessary. 

(b) Term Loan Notes. The obligation of Borrower to repay the Term Loan made by each Lender and to pay interest thereon at the rates
provided herein shall be evidenced by a promissory note in the form of Exhibit H (individually, a “Term Loan Note”) which note shall be (i) payable to the order of such Lender, (ii) in the amount of such
Lender’s Term Loan, (iii) dated the Closing Date and (iv) otherwise appropriately completed. 
 (c) Interest Account.
Borrower authorizes Agent to record in an account or accounts maintained by Agent on its books (the “Interest Account”) (i) the interest rates applicable to all Loans and Portions and the effective dates of all changes thereto,
(ii) the Interest Period for each LIBOR Loan and LIBOR Portion, (iii) the date and amount of each principal and interest payment on each Loan and Portion and (iv) such other information as Agent may determine is necessary for the
computation of interest payable by Borrower hereunder. 
 2.09 Loan Funding, Etc. 

(a) Lender Funding and Disbursement to Borrower. Each Lender shall, before 9:00 a.m. on the date of each Borrowing which includes Loans
to be made by such Lender, make available to Agent at its office specified in Paragraph 8.01, in same day or immediately available funds, such Lender’s pro rata share of such Borrowing. Except as otherwise provided with respect to
Revolving Loan Borrowings initiated by Agent pursuant to clause (iii) of Subparagraph 2.02(d), after Agent’s receipt of such funds and upon fulfillment of the applicable conditions set forth in Section III, Agent will
promptly disburse such funds in same day or immediately available funds to Borrower. Unless otherwise directed by Borrower, Agent shall disburse the proceeds of each Borrowing to Borrower by disbursement to the account or accounts specified in the
applicable Notice of Borrowing. 
 (b) Lender Failure to Fund. Unless Agent shall have received notice from a Lender prior to the
date of any Borrowing which includes Loans to be made by such Lender that such Lender will not make available to Agent such Lender’s pro rata share of such Borrowing, Agent may assume that such Lender has made such portion available to Agent on
the date of such Borrowing in accordance with Subparagraph 2.09(a), and Agent may, in reliance upon such assumption, make available to Borrower (or otherwise disburse) on such date a corresponding amount. If any Lender does not make the
amount of its pro rata share of any Borrowing which includes Loans to be made by such Lender available to Agent on or prior to the date of such Borrowing, such Lender shall pay to Agent, on demand, interest which shall accrue on such amount until
made available to Agent at rates equal to (i) the daily Federal Funds Rate during the period from the date of such Borrowing through the third Business Day thereafter and (ii) the Base Rate thereafter. A certificate of Agent submitted to
any Lender with respect to any amounts owing under this Subparagraph 2.09(b) shall be conclusive absent manifest error. If any Lender’s pro rata share of any Borrowing which includes Loans to be made by such Lender is not in fact made
available to Agent by such Lender within three (3) Business Days after the date of such Borrowing, Borrower shall pay to Agent, on demand, an amount equal to such pro rata share together with interest thereon, for each day from the date such
amount was made available to Borrower until the date such amount is repaid to Agent, at the interest rate applicable at the time to the Loans comprising such Borrowing. 

  
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 (c) Lenders’ Obligations Several. The failure of any Lender to make the Loan to be
made by it as part of any Borrowing or the failure of any Revolving Lender to fund its participation in any Drawing Payment shall not relieve any other Lender of its obligation hereunder to make its Loan on the date of such Borrowing or fund its
participation on the date of such funding, but no Lender shall be responsible for the failure of any other Lender to make the Loan to be made by such other Lender on the date of any Borrowing or fund the participation to be funded by such other
Lender on the date of such funding. 
 2.10 Pro Rata Treatment. 

(a) Borrowings, Commitment Reductions, Etc. Except as otherwise provided herein: 

(i) Each Revolving Loan Borrowing, each reduction of the Total Revolving Loan Commitment, and participations in each Letter of Credit shall
be made or shared among the Lenders pro rata according to their respective Revolving Loan Proportionate Shares; and the Term Loan Borrowing shall be made by the Lenders pro rata according to their respective Term Loan Proportionate Shares; 

(ii) Each payment of principal of Loans in any Borrowing shall be shared among the Lenders which made or funded the Loans in such Borrowing
pro rata according to the respective unpaid principal amounts of such Loans so made or funded by such Lenders; 
 (iii) Each payment of
interest on Loans in any Borrowing shall be shared among the Lenders which made or funded the Loans in such Borrowing pro rata according to (A) the respective unpaid principal amounts of such Loans so made or funded by such Lenders and
(B) the dates on which such Lenders so made or funded such Loans; 
 (iv) Each Reimbursement Payment and interest payable by Borrower
thereon shall be shared among the Lenders (including Agent) which made or funded the applicable Drawing Payment pro rata according to the respective amounts of such Drawing Payment so made or funded by such Lenders; 

(v) Each payment of Commitment Fees shall be shared among the Lenders pro rata according to their respective Revolving Loan Proportionate
Shares; 
 (vi) Each payment of Unused Commitment Fees shall be shared among the Lenders pro rata according to (A) their respective
Revolving Loan Proportionate Shares, and (B) in the case of each Lender which becomes a Lender hereunder after the date hereof, the date upon which Lender so became a Lender; 

  
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 (vii) Each payment of Standby LC Usage Fees and Trade LC Usage Fees shall be shared among the
Lenders (including Agent in its capacity as a Lender) pro rata according to (A) their respective Revolving Loan Proportionate Shares and (B) in the case of each Lender which becomes a Lender hereunder after the date hereof, the date upon
which such Lender so became a Lender; 
 (viii) Each payment of interest (other than interest on Loans) shall be shared among the Lenders
and Agent owed the amount upon which such interest accrues pro rata according to (A) the respective amounts so owed such Lenders and Agent and (B) the dates on which such amounts became owing to such Lenders and Agent; and 

(ix) All other payments under this Agreement and the other Credit Documents shall be for the benefit of the Person or Persons specified. 

(b) Sharing of Payments, Etc. If any Lender shall obtain any payment (whether voluntary, involuntary, through the exercise of any right
of setoff, or otherwise) on account of Loans or Reimbursement Obligations owed to it in excess of its ratable share of payments on account of such Loans or Reimbursement Obligations obtained by all Lenders entitled to such payments, such Lender
shall forthwith purchase from the other Lenders entitled to such payments such participations in the Loans or Reimbursement Obligations as shall be necessary to cause such purchasing Lender to share the excess payment ratably with each of them;
provided, however, that if all or any portion of such excess payment is thereafter recovered from such purchasing Lender, such purchase shall be rescinded and each other Lender shall repay to the purchasing Lender the purchase price to
the extent of such recovery together with an amount equal to such other Lender’s ratable share (according to the proportion of (i) the amount of such other Lender’s required repayment to (ii) the total amount so recovered from
the purchasing Lender) of any interest or other amount paid or payable by the purchasing Lender in respect of the total amount so recovered. Borrower agrees that any Lender so purchasing a participation from another Lender pursuant to this
Subparagraph 2.10(b) may, to the fullest extent permitted by law, exercise all its rights of payment (including the right of setoff) with respect to such participation as fully as if such Lender were the direct creditor of Borrower in the
amount of such participation. 
 2.11 Change of Circumstances. 

(a) Inability to Determine Rates. If, on or before the first day of any Interest Period for any LIBOR Loan or LIBOR Portion, Agent
shall determine that (i) the LIBOR Rate for such Interest Period cannot be adequately and reasonably determined due to the unavailability of funds in or other circumstances affecting the London interbank market or (ii) the rates of
interest for such LIBOR Loans or LIBOR Portions, as the case may be, do not adequately and fairly reflect the cost to the Lenders of making or maintaining such LIBOR Loans or LIBOR Portions, Agent shall immediately give notice of such condition to
Borrower and the Lenders. After the giving of any such notice and until Agent shall otherwise notify Borrower that the circumstances giving rise to such condition no longer exist, Borrower’s right to request the making of or conversion to, and
the Lenders’ obligations to make or convert to LIBOR Loans or LIBOR Portions shall be suspended. Any LIBOR Loans or LIBOR Portions outstanding at the commencement of any such suspension shall, unless fully repaid, be converted at the end of the
then current Interest Period for such LIBOR Loans or LIBOR Portions into Base Rate Loans or Base Rate Portions, as the case may be, unless such suspension has then ended. 

  
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 (b) Illegality. If, after the date of this Agreement, the adoption of any Governmental
Rule, any change in any Governmental Rule or the application or requirements thereof (whether such change occurs in accordance with the terms of such Governmental Rule as enacted, as a result of amendment or otherwise), any change in the
interpretation or administration of any Governmental Rule by any Governmental Authority, or compliance by any Lender with any request or directive (whether or not having the force of law) of any Governmental Authority (a “Change of
Law”) shall make it unlawful or impossible for any Lender to make or maintain any LIBOR Loan or LIBOR Portion, such Lender shall immediately notify Agent and Borrower of such Change of Law. Upon receipt of such notice,
(i) Borrower’s right to request the making of or conversion to, and such Lender’s obligation to make or convert to, LIBOR Loans or LIBOR Portions shall be terminated, and (ii) Borrower shall, at the request of such Lender, either
(A) pursuant to Subparagraph 2.01(d) or Subparagraph 2.03(d), as the case may be, convert any such then outstanding LIBOR Loans or LIBOR Portions of such Lender into Base Rate Loans or Base Rate Portions, as the case may be, at
the end of the current Interest Period for such LIBOR Loans or LIBOR Portions, or (B) immediately repay or convert any such LIBOR Loans or LIBOR Portions if such Lender shall notify Borrower that such Lender may not lawfully continue to fund
and maintain such LIBOR Loans or LIBOR Portions. Any conversion or prepayment of LIBOR Loans or LIBOR Portions made pursuant to the preceding sentence prior to the last day of an Interest Period for such LIBOR Loans or LIBOR Portions shall
not be deemed a prepayment thereof for purposes of Paragraph 2.13. After any Lender notifies Agent and Borrower of such a Change of Law and until such Lender notifies Agent and Borrower that it is no longer unlawful or impossible for
such Lender to make or maintain any LIBOR Loan or LIBOR Portion, all Revolving Loans and all Portions of the Term Loan of such Lender shall be Base Rate Loans and Base Rate Portions, respectively. 

(c) Increased Costs. If, after the date of this Agreement, any Change of Law: 

(i) Shall subject any Lender to any Tax, duty or other charge with respect to any LIBOR Loan or LIBOR Portion, or shall change the basis of
taxation of payments by Borrower to any Lender on such a LIBOR Loan or LIBOR Portion or in respect to such a LIBOR Loan or LIBOR Portion under this Agreement (except for changes in the rate of taxation on the overall net income of any Lender imposed
by its jurisdiction of incorporation or the jurisdiction in which its principal executive office is located); or 
 (ii) Shall impose,
modify or hold applicable any reserve (excluding any Reserve Requirement or other reserve to the extent included in the calculation of the LIBO Rate for any Loans or Portions), special deposit or similar requirement against assets held by, deposits
or other liabilities in or for the account of, advances or loans by, or any other acquisition of funds by any Lender for any LIBOR Loan or LIBOR Portion; or 

(iii) Shall impose on any Lender any other condition related to any LIBOR Loan or LIBOR Portion or such Lender’s Commitments; 

  
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 And the effect of any of the foregoing is to increase the actual cost to such Lender of making, renewing, or
maintaining any such LIBOR Loan or LIBOR Portion or such Lender’s Commitments or to reduce any amount receivable by such Lender hereunder, then Borrower shall from time to time, within ten (10) days after demand by such Lender (which
demand shall be accompanied by a statement setting forth in reasonable detail the basis for the calculation of the amount demanded), pay to such Lender additional amounts sufficient to reimburse such Lender for such increased costs or to compensate
such Lender for such reduced amounts. A certificate as to the amount of such increased costs or reduced amounts submitted by such Lender to Borrower shall constitute prima facie evidence of such increased costs or reduced amounts. The
obligations of Borrower under this Subparagraph 2.11(c) shall survive the payment and performance of the Obligations and the termination of this Agreement. 

(d) Capital Requirements. If, after the date of this Agreement, any Lender determines that (i) any generally applicable Change of
Law affects the amount of capital required to be maintained by such Lender (a “Capital Adequacy Requirement”) and (ii) the amount of capital maintained by such Lender which is directly attributable to or based upon the Loans,
the Letters of Credit, the Commitments or this Agreement must be increased as a result of such Capital Adequacy Requirement (taking into account such Lender’s policies with respect to capital adequacy), Borrower shall pay to such Lender, within
ten (10) days after demand of such Lender (which demand shall be accompanied by a statement setting forth in reasonable detail the basis for the calculation of the amount demanded), such amounts as such Lender shall determine are necessary to
compensate such Lender for the increased costs to such Lender of such increased capital. A certificate of any Lender setting forth in reasonable detail the computation of any such increased costs delivered by such Lender to Borrower shall constitute
prima facie evidence of such increased costs. 
 (e) Mitigation. As promptly as practical after any Lender becomes
aware of (i) any Change of Law or other circumstances will make it unlawful or impossible for such Lender to make or maintain any LIBOR Loan or LIBOR Portion or (ii) any obligation by Borrower to pay any amount pursuant to Subparagraph
2.11(c) or Subparagraph 2.11(d), such Lender shall notify Borrower and Agent (and, if any Lender has given notice of any such event described in clause (i) or (ii) above and thereafter such event ceases to exist, such
Lender shall promptly so notify Borrower and Agent). Each Lender affected by any Change of Law or any other circumstances which makes it unlawful or impossible for such Lender to make or maintain any LIBOR Loan or LIBOR Portion or to which Borrower
is obligated to pay any amount pursuant to Subparagraph 2.11(b), Subparagraph 2.11(c) or Subparagraph 2.11(d) shall use reasonable commercial efforts (including changing the jurisdiction of its Applicable Lending Office) to
avoid the effect of such Change of Law or to avoid or materially reduce any amounts which Borrower is obligated to pay pursuant to Subparagraph 2.11(c) or Subparagraph 2.11(d) if, in the reasonable opinion of such Lender, such efforts
would not be disadvantageous to such Lender or contrary to such Lender’s normal banking practices. 
 (f) Nondiscrimination.
Each Lender agrees that, in the event that it submits any demand for payment under this Paragraph 2.11, it shall, as part of making such demand, certify to Borrower that, to the best of such Lender’s knowledge, it is concurrently making
similar demands of other customers similarly situated. 

  
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 2.12 Taxes on Payments. 

(a) Payments Free of Taxes. All payments made by Borrower under this Agreement and the other Credit Documents shall be made free and
clear of, and without deduction or withholding for or on account of, any present or future income, stamp or other taxes, levies, imposts, duties, charges, fees, deductions or withholdings, now or hereafter imposed, levied, collected, withheld or
assessed by any Governmental Authority (except net income taxes and franchise taxes in lieu of net income taxes or FACTA related taxes imposed on Agent or any Lender by its jurisdiction of incorporation, the jurisdiction in which its Applicable
Lending Office is located or any political subdivision of either such jurisdiction or the United States or any state or political subdivision thereof) (all such non excluded taxes, levies, imposts, duties, charges, fees, deductions and withholdings
being hereinafter called “Taxes”). Subject to Subparagraph 2.12(c), if any Taxes are required to be withheld from any amounts payable to Agent or any Lender hereunder or under the other Credit Documents, the amounts so
payable to Agent or such Lender shall be increased to the extent necessary to yield to Agent or such Lender (after payment of all Taxes) interest or any such other amounts payable hereunder at the rates or in the amounts specified in this Agreement
and the other Credit Documents. Whenever any Taxes are payable by Borrower, as promptly as possible thereafter, Borrower shall send to Agent for its own account or for the account of such Lender, as the case may be, a certified copy of an original
official receipt received by Borrower showing payment thereof. If Borrower fails to pay any Taxes when due to the appropriate taxing authority or fails to remit to Agent the required receipts or other required documentary evidence, Borrower shall
indemnify Agent and the Lenders for any incremental taxes, interest or penalties that may become payable by Agent or any Lender as a result of any such failure. The obligations of Borrower, Agent and each Lender under this Paragraph 2.12
shall survive the payment and performance of the Obligations and the termination of this Agreement. 
 (b) Mitigation. Agent or any
Lender claiming any additional amounts payable pursuant to this Paragraph 2.12 (or Subparagraph 2.11(c)(i)) shall use reasonable commercial efforts to execute and file or provide to Borrower any certificate or document requested from
time to time in writing by Borrower (including without limitation executed copies of Internal Revenue Service Forms W-8BEN, W-8ECI, W-8IMY and W-9, or successor forms, reflecting a reduced rate of withholding) or to change the jurisdiction of
its Applicable Lending Office if the making of such a filing, provision or such change in the jurisdiction of its Applicable Lending Office would avoid the need for or materially reduce the amount of any such additional amounts which may thereafter
accrue and if, in the reasonable opinion of Agent or such Lender in the case of a change in the jurisdiction of its Applicable Lending Office, such change would not be disadvantageous to such Agent or Lender or contrary to Agent’s or such
Lender’s normal banking practices. 
 (c) Refunds. If Agent or any Lender shall become aware that it is entitled to receive a
refund in respect of Taxes as to which it has been indemnified by Borrower pursuant to this Paragraph 2.12, it shall promptly notify Borrower of the availability of such refund and shall, within thirty (30) days after receipt of a
request by Borrower, apply for such refund at Borrower’s expense. If Agent or any Lender, as applicable, receives a refund in respect of any Taxes as to which it has been indemnified by Borrower pursuant to this Paragraph 2.12, it shall
promptly repay such refund to Borrower (to the extent of amounts that have been paid by Borrower under this Paragraph 2.12 with respect to such refund), net of all out-of-pocket expenses (including taxes imposed with respect to such refund)
of Agent or such Lender, as applicable, and without interest; provided, however, that Borrower, upon the request of Agent or such Lender, as applicable, agrees to return such refund (plus penalties, interest or other charges) to Agent
or such Lender in the event Agent or such Lender is required to repay such refund. 

  
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 (d) Nondiscrimination. Each Lender agrees that, in the event that it submits any demand
for payment under this Paragraph 2.12, it shall, as part of making such demand, certify to Borrower that, to the best of such Lender’s knowledge, it is concurrently making similar demands of other customers similarly situated. 

(e) Tax Returns. Nothing contained in this Paragraph 2.12 shall require Agent or any Lender to make available any of its tax
returns (or any other information relating to its taxes which it deems to be confidential). 
 2.13 Funding Loss Indemnification. If
Borrower shall (a) repay, prepay or convert any LIBOR Loan or LIBOR Portion on any day other than the last day of an Interest Period therefor (whether a scheduled payment, an optional prepayment or conversion, a mandatory prepayment or
conversion, a payment upon acceleration or otherwise), except for a prepayment required pursuant to Subparagraph 2.09(b) or Subparagraph 2.11(b), (b) fail to borrow any LIBOR Loan or LIBOR Portion for which a Notice of Borrowing
has been delivered to Agent (whether as a result of the failure to satisfy any applicable conditions or otherwise) or (c) fail to convert any Revolving Loans into LIBOR Loans or any Portion of the Term Loan Borrowing into a LIBOR Portion in
accordance with a Notice of Loan Conversion delivered to Agent (whether as a result of the failure to satisfy any applicable conditions or otherwise), Borrower shall, upon demand by any Lender, reimburse such Lender and hold such Lender harmless for
all costs and net losses incurred by such Lender as a result of such repayment, prepayment or failure. Borrower understands that such costs and losses may include, without limitation, losses incurred by a Lender as a result of funding and other
contracts entered into by such Lender to fund a LIBOR Loan or LIBOR Portion. Each Lender demanding payment under this Paragraph 2.13 shall deliver to Borrower, with a copy to Agent, a certificate setting forth the amount of costs and losses
for which demand is made, which certificate shall set forth in reasonable detail the basis for the calculation of the amount demanded. Such a certificate so delivered to Borrower shall constitute prima facie evidence of such costs and
losses. 
 2.14 Replacement of Affected Lenders and Defaulting Lenders. At any time any Lender is an Affected Lender or a Defaulting
Lender, Agent may replace such Lender as a party to this Agreement with one or more other bank(s) or financial institution(s) reasonably satisfactory to Agent, such bank(s) or financial institution(s) to have commitments in such amounts as shall be
reasonably satisfactory to Agent. Upon notice from Agent, such Affected Lender or Defaulting Lender shall assign, pursuant to an Assignment Agreement, its Commitments, its Loans, its Notes and all of its other rights and obligations hereunder to
such replacement bank(s) or other financial institution(s) for a purchase price equal to the sum of the principal amount of the Loans so assigned, all accrued and unpaid interest thereon and its ratable share of all fees to which it is entitled
(except, in the case of a Defaulting Lender, any amounts which would otherwise be payable to such Defaulting Lender pursuant to Paragraph 2.13 as a result of such assignment being made prior to the last day of an Interest Period for an
outstanding LIBOR Loan or LIBOR Portion). Such purchase price shall not be subject to the provisions of Subparagraph 2.10(b). Any such assumption and purchase shall be made in accordance with the provisions of Subparagraph 8.06(c)
relating to assignments of Loans and Commitments. 

  
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 2.15 Security. 

(a) Security Agreements, etc. The Obligations shall be secured by the following: 

(i) Membership Interests Pledge Agreement(s), in form and content satisfactory to Agent and Lenders in their sole discretion, pledging to
Agent one hundred percent (100%) of the membership interests in Borrower and each of Borrower’s Subsidiaries, duly executed by Borrower and its Subsidiaries as applicable, which membership interests shall not be subject to any other lien
and encumbrance (the “Membership Interests Pledge Agreement(s)”); 
 (ii) A Security Agreement in form and content
satisfactory to Agent and Lenders in their sole discretion, granting to Agent a security interest in all present and future assets of the Borrower and its Subsidiaries, including, without limitation, accounts receivable, inventory, machinery,
equipment, contracts, trademarks, copyrights, patents, license rights and general intangibles, executed by Borrower and its Subsidiaries, as applicable (the “Security Agreement”); 

(b) Further Assurances. Borrower shall deliver to Agent such additional security agreements, pledge agreements, lessor consents and
estoppels (containing appropriate lender protection language) and other instruments, agreements, certificates, opinions and documents (including Uniform Commercial Code financing statements and fixture filings and landlord waivers) as Agent may
reasonably request to: 
 (i) Grant, perfect, maintain, protect and evidence security interests in favor of Agent, for the benefit of Agent
and the Lenders, in any or all present and future personal property of Borrower prior to the Liens or other interests of any Person, except for Permitted Liens; 

(ii) Grant, perfect, maintain, protect and evidence security interests in favor of Agent, for the benefit of Agent and the Lenders, in any or
all present and future stock issued by Borrower prior to the Liens or other interests of any Person; or 
 (iii) Otherwise establish,
maintain, protect and evidence the rights provided to Agent, for the benefit of Agent and the Lenders, pursuant to the Membership Interests Pledge Agreement(s), the Security Agreement or any other Security Document. 

  
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	SECTION III.	CONDITIONS PRECEDENT. 

 3.01 Initial Conditions Precedent. The
obligations of the Lenders to make the Loans comprising the initial Borrowing and of Agent to issue the initial Letter of Credit are subject to the conditions that: 

(a) Receipt by Agent of the final executed Membership Interest Purchase Agreement in form satisfactory to Agent in its sole discretion,
together with evidence that all conditions precedent to the Membership Interest Purchase Agreement have been satisfied, including, but not limited to, receipt of all required governmental approvals; 

(b) Satisfactory review and acceptance of all environmental due diligence on all assets owned or to be owned by Borrower, including the
Acquired Assets, which environmental due diligence shall include (i) a review of environmental indemnities from Seller, (ii) review of all insurance coverage of Borrower related to environmental risk, (iii) review of Borrower’s
corporate environmental policy, procedures and response protocols pertaining to the operational business risk, identifying current company standards and customary commercial practices within the industry to be performed by a qualified environmental
consultant, (iv) delivery and subsequent review of environmental reports and/or investigations of all of the assets of Borrower, including the Acquired Assets, completed by a qualified environmental consultant acceptable to Agent, which reports
and/or investigations may be reviewed by Agent’s environmental consultants; 
 (c) Delivery by Borrower to Agent of due diligence
procedures, satisfactory to Agent in its sole discretion, with respect to the validation of the Acquisition income statement supporting the historical EBITDA, revenue, cost of sales, and operating expenses of the Acquired Assets (the “Agreed
Upon Procedures”); 
 (d) Delivery to, and satisfactory review by, Agent and its counsel of due diligence information from Borrower
regarding litigation, tax (including tax treatment of Acquired Assets), accounting, labor, insurance, pension liabilities (actual or contingent), real estate leases, material contracts, debt agreements, property ownership, environmental matters,
including but not limited to environmental liabilities to Lenders from Borrower, contingent liabilities and management of Borrower and its Subsidiaries; 

(e) Delivery to, and satisfactory review by, Agent of all insurance policies issued to Borrower by insurance companies reasonably acceptable
to Agent; 
 (f) Borrower shall have delivered to Agent, at Borrower’s sole expense, an opinion of legal counsel in form and content
satisfactory to Agent to the effect that (i) the Borrower and its Subsidiaries have due authorization to executed and deliver each of the Loan Documents, (ii) each of the Loan Documents are legal, valid and binding instruments enforceable
against the makers thereof in accordance with their respective terms, (iii) such other matters incident to the transactions contemplated hereby, as Agent may reasonably request; 

(g) Borrower shall have delivered to Agent, on or prior to the Closing Date, each item listed in Schedule 3.01, each in form and
substance reasonably satisfactory to Agent and Lenders and with sufficient copies for Agent and each Lender; 
 (h) No event or condition
which is reasonably likely to have a Material Adverse Effect shall have occurred since December 31, 2012 and be continuing on the date of such initial Borrowing or Letter of Credit; and 

(i) The absence of any material disruption of, or a material change in conditions in the financial, banking or capital markets which Agent, in
its sole discretion, deems material in connection with the syndication of the Senior Credit Facilities. 

  
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 3.02 Conditions Precedent to Each Credit Event. The occurrence of each Credit Event
(including the initial Borrowing and the initial Letter of Credit) is subject to the further conditions that: 
 (a) Borrower shall have
delivered to Agent the Notice of Borrowing, Notice of Loan Conversion, Notice of Interest Period Selection or LC Application, as the case may be, for such Credit Event in accordance with this Agreement; and 

(b) On the date such Credit Event is to occur and after giving effect to such Credit Event, the following shall be true and correct: 

(i) The representations and warranties of Borrower set forth in the Credit Documents are true and correct in all material respects as if made
on such date (except for representations and warranties expressly made as of a specified date, which shall be true in all material respects as of such date); and 

(ii) No Default or Event of Default has occurred and is continuing or will result from such Credit Event. 

The submission by Borrower to Agent of each Notice of Borrowing, each Notice of Conversion (other than a notice for a conversion to a Base Rate Loan or a Base
Rate Portion), each Notice of Interest Period Selection and each LC Application shall be deemed to be a representation and warranty by Borrower as of the date thereon as to the above. 

 

	SECTION IV.	REPRESENTATIONS AND WARRANTIES. 

 4.01 Borrower’s Representations
and Warranties. In order to induce Agent and the Lenders to enter into this Agreement, Borrower hereby represents and warranties to Agent and the Lenders as follows: 

(a) Due Organization, Qualification, etc. Borrower (i) is a limited liability company duly organized, validly existing and in good
standing under the laws of its state of organization; (ii) has the power and authority to own, lease and operate its properties and carry on its business as now conducted; and (iii) is duly qualified, licensed to do business and in good
standing as a foreign limited liability company in each jurisdiction where the failure to be so qualified or licensed is reasonably likely to have a Material Adverse Effect. 

(b) Authority. The execution, delivery and performance by Borrower of each Credit Document to be executed by Borrower and the
consummation of the transactions contemplated thereby (i) are within the corporate power of Borrower and (ii) have been duly authorized by all necessary corporate actions on the part of Borrower. 

  
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 (c) Enforceability. Each Credit Document executed, or to be executed, by Borrower has
been, or will be, duly executed and delivered by Borrower and constitutes, or will constitute, a legal, valid and binding obligation of Borrower, enforceable against Borrower in accordance with its terms, except as limited by bankruptcy, insolvency
or other laws of general application relating to or affecting the enforcement of creditors’ rights generally and general principles of equity (regardless of whether considered in a proceeding in equity or at law). 

(d) Non Contravention. The execution and delivery by Borrower of the Credit Documents executed by Borrower and the performance and
consummation of the transactions contemplated thereby do not (i) violate any Requirement of Law applicable to Borrower; (ii) violate any material provision of, or result in the material breach or the acceleration of, or entitle any other
Person to accelerate (whether after the giving of notice or lapse of time or both), any Contractual Obligation of Borrower; or (iii) result in the creation or imposition of any Lien (or the obligation to create or impose any Lien) upon any
property, asset or revenue of Borrower (except such Liens as may be created in favor of Agent pursuant to this Agreement or the other Credit Documents). 

(e) Approvals. No consent, approval, order or authorization of, or registration, declaration or filing with, any Governmental Authority
or other Person (including, without limitation, the shareholders of any Person) is required in connection with the execution and delivery of the Credit Documents executed by Borrower and the performance and consummation of the transactions
contemplated thereby except for filings necessary to perfect the security interests granted pursuant to the Credit Documents. 
 (f) No
Violation or Default. Neither Borrower nor any of Borrower’s Subsidiaries is in violation of or in default with respect to (i) any Requirement of Law applicable to such Person or (ii) any Contractual Obligation of such Person,
where, in each case, such violation or default is reasonably likely to have a Material Adverse Effect. Without limiting the generality of the foregoing, neither Borrower nor any of Borrower’s Subsidiaries (A) is in violation of any
Environmental Laws, (B) has any liability under any Environmental Laws or (C) has received written notice or other written communication of an investigation or, to the knowledge of Borrower, is under investigation by any Governmental
Authority having authority to enforce Environmental Laws, where, in each case, such violation, liability or investigation is reasonably likely to have a Material Adverse Effect. No Event of Default or Default has occurred and is continuing. 

(g) Litigation. No actions, suits, proceedings or investigations are pending or, to the knowledge of Borrower, threatened against
Borrower or any of Borrower’s Subsidiaries at law or in equity in any court or before any other Governmental Authority which (i) is reasonably likely (alone or in the aggregate) to have a Material Adverse Effect or (ii) seeks to
enjoin, either directly or indirectly, the execution, delivery or performance of the Credit Documents or the transactions contemplated thereby. 

(h) Title to Property; Leases. Borrower has good and sufficient title to all properties that individually or in the aggregate are
material, including all such properties reflected in the most recent financial statements delivered to Agent or purported to have been acquired by Borrower after said date (except as sold or otherwise disposed of in the ordinary course of business),
in each case free and clear of Liens prohibited by this Agreement. All leases that individually or in the aggregate are material are valid and subsisting and are in full force and effect in all material respects. 

  
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 (i) Financial Statements. The Financial Statements of Borrower which have been delivered
to Agent, (i) are in accordance with the books and records of Borrower, which have been maintained in accordance with good business practice; (ii) have been prepared in conformity with GAAP; and (iii) fairly present the financial
condition and results of operations of Borrower in all material respects as of the date thereof and for the periods covered thereby. As of the date of each of the Financial Statements of Borrower delivered pursuant to clause (ii) or
(iii) of Subparagraph 5.01(a), neither Borrower nor any of Borrower’s Subsidiaries has any contingent obligations, liability for taxes or other outstanding obligations which are reasonably likely, in the aggregate, to have a Material
Adverse Effect, except as disclosed in such Financial Statements. 
 (j) No Agreements to Sell Assets; Etc. Neither Borrower nor any
of Borrower’s Subsidiaries has any legal obligation, absolute or contingent, to any Person to sell the assets of Borrower or any of Borrower’s Subsidiaries (other than sales in the ordinary course of business), or to effect any merger,
consolidation or other reorganization of Borrower or any of Borrower’s Subsidiaries or to enter into any agreement with respect thereto. 

(k) Employee Benefit Plans. 

(i) Based on the latest valuation of each Employee Benefit Plan that is subject to Title IV or section 302 of ERISA or Code Section 412
that either Borrower or any ERISA Affiliate maintains or contributes to, or has any obligation under (which occurred within twelve months of the date of this representation), the aggregate benefit liabilities of such plan within the meaning of
§ 4001 of ERISA did not exceed the aggregate value of the assets of such plan to the extent that it is likely to have a Material Adverse Effect. Neither Borrower nor any ERISA Affiliate has any liability with respect to any post retirement
benefit under any Employee Benefit Plan which is a welfare plan (as defined in section 3(1) of ERISA), other than liability for health plan continuation coverage described in Part 6 of Title I(B) of ERISA, which liability for health plan
contribution coverage is not reasonably likely to have a Material Adverse Effect. 
 (ii) Each Employee Benefit Plan complies, in both form
and operation, in all material respects, with its terms, ERISA and the Code, and no condition exists or event has occurred with respect to any such plan which would result in the incurrence by either Borrower or any ERISA Affiliate of any material
liability, fine or penalty which is likely to have a Material Adverse Effect. No Employee Benefit Plan is being audited or investigated by any government agency or is subject to any pending or threatened claim or suit. Neither Borrower nor any ERISA
Affiliate has nor, to the knowledge of Borrower or any ERISA Affiliate, has any fiduciary of any Employee Benefit Plan engaged in a prohibited transaction under section 406 of ERISA or section 4975 of the Code which is reasonably likely to have a
Material Adverse Effect. 
 (iii) Neither Borrower nor any ERISA Affiliate has any material contingent obligations to any Multiemployer
Plan which is likely to have a Material Adverse Effect. Neither Borrower nor any ERISA Affiliate has incurred any material liability (including secondary liability) to any Multiemployer Plan as a result of a complete or partial withdrawal from such
Multiemployer Plan under Section 4201 of ERISA or as a result of a sale of assets described in Section 4204 of ERISA. Neither Borrower nor any ERISA Affiliate has been notified that any Multiemployer Plan is in reorganization or insolvent
under and within the meaning of Section 4241 or Section 4245 of ERISA or that any Multiemployer Plan intends to terminate or has been terminated under Section 4041A of ERISA. 

  
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 (l) Hazardous Materials. 

(i) Except as set forth in those certain reports listed on Schedule 7.05 attached hereto, and except as would not reasonably be
expected to result in a Material Adverse Effect, the real property owned and/or leased by Borrower is not and has not been a site for the use, generation, manufacture, storage, treatment, release, threatened release, discharge, disposal,
transportation or presence of any oil, flammable explosives, asbestos, urea formaldehyde insulation, radioactive materials, hazardous wastes, toxic or contaminated substances or similar materials, including, without limitation, any substances which
are defined as “hazardous substances”, “hazardous wastes”, “hazardous materials”, “toxic substances”, “wastes”, “regulated substances”, “industrial solid wastes”, or
“pollutants” under the Hazardous Materials Laws, as described below, and/or other applicable environmental laws, ordinances and regulations (collectively, the “Hazardous Materials”). “Hazardous Materials” shall
not include commercially reasonable amounts of such materials used in the ordinary course of operation of the real property owned and/or leased by Borrower which are used and stored in accordance with all applicable environmental laws, ordinances
and regulations. 
 (ii) Except as set forth in those certain reports listed on Schedule 7.05 attached hereto, and except as would not
be reasonably expected to result in a Material Adverse Effect, the real property owned and/or leased by Borrower is in compliance with all laws, ordinances and regulations relating to Hazardous Materials (“Hazardous Materials
Laws”), including, without limitation: the Clean Air Act, as amended, 42 U.S.C. Section 7401 et seq.; the Federal Water Pollution Control Act, as amended, 33 U.S.C. Section 1251 et seq.; the Resource
Conservation and Recovery Act of 1976, as amended, 42 U.S.C. Section 6901 et seq.; the Comprehensive Environment Response, Compensation and Liability Act of 1980, as amended (including the Superfund Amendments and Reauthorization
Act of 1986, “CERCLA”), 42 U.S.C. Section 9601 et seq.; the Toxic Substances Control Act, as amended, 15 U.S.C. Section 2601 et seq.; the Occupational Safety and Health Act, as amended, 29
U.S.C. Section 651, the Emergency Planning and Community Right-to-Know Act of 1986, 42 U.S.C. Section 11001 et seq.; the Mine Safety and Health Act of 1977, as amended, 30 U.S.C. Section 801 et seq.; the
Safe Drinking Water Act, as amended, 42 U.S.C. Section 300f et seq.; the Hawaii Occupational Safety and Health Law, Haw. Rev. Stat. Chapter 392, as amended; Haw. Rev. Stat. Chapters 128D (Environmental Response), 149A
(Pesticides), 195D (Conservation), 340A (Solid Waste), 340E (Safe Drinking Water), 342B (Air Pollution Control), 342D (Water Pollution), 342F (Noise Pollution), 342H (Solid Waste Pollution), 342J (Hazardous Waste), 342L (Underground Storage Tanks),
and 342P (Asbestos), all as amended; and all comparable state and local laws, laws of other jurisdictions or orders and regulations. 

(iii) There are no claims or actions (“Hazardous Materials Claims”) pending or, to the knowledge of Borrower, threatened
against Borrower, or the real property owned or, to the knowledge of Borrower, leased by Borrower by any governmental entity or agency or by any other person or entity relating to Hazardous Materials or pursuant to the Hazardous Materials Laws,
which is reasonably likely (alone or in the aggregate) to have a Material Adverse Effect. 

  
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 (m) Governmental Charges. Borrower and Borrower’s Subsidiaries have filed or caused
to be filed all material tax returns which are required by law to be filed by them. Borrower and Borrower’s Subsidiaries have paid, or made provision for the payment of, all taxes and other Governmental Charges which have become due pursuant to
said returns or otherwise, except such Governmental Charges, if any, which are being contested in good faith and as to which adequate reserves (determined in accordance with GAAP) have been provided or which are not reasonably likely to have a
Material Adverse Effect if unpaid. 
 (n) Margin Stock. Borrower owns no Margin Stock which, in the aggregate, would constitute a
substantial part of the assets of Borrower, and no proceeds of any Loan and no Letter of Credit will be used to purchase or carry, directly or indirectly, any Margin Stock or to extend credit, directly or indirectly, to any Person for the purpose of
purchasing or carrying any Margin Stock. 
 (o) Catastrophic Events. Neither Borrower nor any of Borrower’s Subsidiaries and
none of their properties is affected by any fire, explosion, accident, drought, storm, hail, earthquake, embargo, act of God or other casualty that is reasonably likely to have a Material Adverse Effect. As of the Closing Date, there are no disputes
presently subject to grievance procedure, arbitration or litigation under any of the collective bargaining agreements, employment contracts or employee welfare or incentive plans to which Borrower or any of Borrower’s Subsidiaries is a party,
and there are no strikes, lockouts, work stoppages or slowdowns, or, to the best knowledge of Borrower, jurisdictional disputes or organizing activities occurring or threatened which alone or in the aggregate are reasonably likely to have a Material
Adverse Effect. 
 (p) Accuracy of Information Furnished. None of the Credit Documents and none of the other certificates, written
statements or written information furnished to Agent or any Lender by any officer of Borrower or any of Borrower’s Subsidiaries in connection with the Credit Documents or the transactions contemplated thereby contains or will contain any
materially untrue statement of a material fact or omits or will omit to state a material fact necessary to make the statements therein, taken as a whole together with other written information so furnished, in light of the circumstances under which
they were made, not misleading. Projections furnished by Borrower are and will be good faith projections of Borrower based upon methods and data Borrower believes to be reasonable and accurate at the time such projections were or are prepared. Agent
and Lenders expressly acknowledge, however, that projections are based upon estimates and assumptions about circumstances and events that have not yet taken place and that actual results may vary from projections. 

4.02 Reaffirmation. Borrower shall be deemed to have reaffirmed, for the benefit of Agent and Lenders, each representation and warranty
contained in Paragraph 4.01 on and as of the date of each Credit Event (except for representations and warranties expressly made as of a specified date, which shall be true as of such date). 

  
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	SECTION V.	COVENANTS. 

 5.01 Affirmative Covenants. Until the termination of
this Agreement and the satisfaction in full by Borrower of all Obligations (other than contingent indemnification obligations and other provisions in the Credit Documents that expressly survive the termination thereof), Borrower will comply, and
will cause compliance, with the following affirmative covenants, unless Majority Lenders shall otherwise consent in writing: 
 (a)
Financial Statements, Reports, etc. Borrower shall furnish to Agent for each Lender (and Agent shall promptly thereupon furnish to each Lender) the following, each in such form and such detail as Agent shall reasonably request: 

(i) As soon as available and in no event later than forty-five (45) days after the last day of each fiscal quarter of Borrower, a copy
of the Financial Statements of Borrower and Borrower’s Subsidiaries for such quarter and for the fiscal year to date (prepared on a consolidated and consolidating basis), certified by an Executive Officer of Borrower to present fairly the
financial condition, results of operations and other information reflected therein and to have been prepared in accordance with GAAP (subject to normal year end audit adjustments and the possible absence of footnotes); 

(ii) As soon as available and in no event later than one-hundred and twenty (120) days after the close of each fiscal year of Borrower,
(A) copies of the audited consolidated Financial Statements of Borrower and Borrower’s Subsidiaries for such fiscal year, prepared by an accounting firm acceptable to Agent, and (B) copies of the unqualified opinions (or qualified
opinions reasonably acceptable to Agent) and management letters delivered by such accountants in connection with all such Financial Statements; 

(iii) Contemporaneously with the quarterly and year-end Financial Statements required by the foregoing clauses (i) and (ii),
(A) a certificate of an Executive Officer of Borrower in the form of Exhibit I, appropriately completed (a “Compliance Certificate”) and (B) management’s discussion of Borrower’s operations for the
period covered by such Financial Statements, including a comparison with Borrower’s operations for the corresponding quarter in the immediately preceding fiscal year or with the immediately preceding fiscal year, as the case may be, and, if
requested by Agent, a budget variance analysis; 
 (iv) As soon as possible and in no event later than five (5) Business Days after
any officer of Borrower knows of the occurrence or existence of (A) any Reportable Event under any Employee Benefit Plan or Multiemployer Plan; (B) any litigation, suits or claims against Borrower or its Subsidiaries involving potential
monetary damages payable by Borrower or any of its Subsidiaries of $1,000,000 or more (alone or in the aggregate) not covered by insurance; (C) any other event or condition which is reasonably likely to have a Material Adverse Effect; or
(D) any Default or Event of Default; the statement of an Executive Officer of Borrower setting forth details of such event, condition, Default or Event of Default and the action which Borrower proposes to take with respect thereto; 

(v) At least thirty (30) days after the first day of each fiscal year of Borrower, the consolidated operating budget of Borrower and its
Subsidiaries for such fiscal year, including quarterly cash flow projections and quarterly projections of Borrower’s compliance with each of the covenants set forth in Paragraph 5.03; 

  
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 (vi) Contemporaneously with the quarterly and year-end Financial Statements required by the
foregoing clauses (i) and (ii), a certificate of an Executive Officer of Borrower which sets forth the amount of any membership interest repurchases from members of Borrower or any distributions paid to members of Borrower during the
period covered by such Financial Statements; 
 (vii) Such other information relating to compliance by Borrower with the terms of the
Credit Documents to which it is a party as any Lender through Agent may from time to time reasonably request; and 
 (viii) Such other
certificates, opinions, statements, documents and information relating to the operations or condition (financial or otherwise) of Borrower or any of its Subsidiaries, and compliance by Borrower with the terms of this Agreement and the other Credit
Documents as any Lender through Agent may from time to time reasonably request. 
 (b) Books and Records. Borrower and its
Subsidiaries shall at all times keep proper books of record and account in accordance with good business practices and GAAP. 
 (c)
Inspections. Borrower and its Subsidiaries shall permit personnel of Agent or any Lender and, if no Event of Default has occurred and is continuing, with the consent of Borrower (which consent shall not be unreasonably withheld or delayed),
any Person designated by Agent or any Lender, upon reasonable notice and during normal business hours, to visit and inspect (which inspection shall not include any invasive environmental sampling unless required by law) any of the properties and
offices of Borrower and its Subsidiaries, to examine the books and records of Borrower and its Subsidiaries and make copies thereof and to discuss the affairs, finances and accounts of Borrower and its Subsidiaries with, and to be advised as to the
same by, their officers, auditors and accountants, all at such times and intervals as Agent or any Lender may reasonably request; provided, however, that (i) Agent and Lenders may not inspect the accounts and inventory of Borrower
and its Subsidiaries more than once in each calendar year unless an Event of Default has occurred, (ii) Agent and Lenders shall use reasonable efforts to coordinate their visits and inspections so as not to be unreasonably burdensome to
Borrower and (iii) any discussions between a Lender or Agent and Borrower’s auditors or accountants shall be with the right of an officer of Borrower to be in attendance. 

(d) Insurance. Borrower and its Subsidiaries shall: 

(i) Carry and maintain insurance of the types and in the amounts customarily carried from time to time during the term of this Agreement by
others engaged in substantially the same business as such Person and operating in the same geographic area as such Person, including, but not limited to, fire, public liability, property damage and worker’s compensation; 

(ii) Carry and maintain each policy for such insurance with a company which is rated B+ or better by A.M. Best and Company at the time such
policy is placed and at the time of each annual renewal thereof, and which insurer is reasonably satisfactory to the Agent; 
 (iii)
Deliver to Agent from time to time, as Agent may request, schedules setting forth all insurance then in effect. 

  
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 (e) Governmental Charges. Borrower and its Subsidiaries shall promptly pay and discharge
when due all taxes and other Governmental Charges prior to the date upon which penalties accrue thereon which, if unpaid, is reasonably likely to have a Material Adverse Effect, except such taxes and other Governmental Charges as may in good faith
be contested or disputed, or for which arrangements for deferred payment have been made, provided that in each such case appropriate reserves are maintained in accordance with GAAP. 

(f) Use of Proceeds. Borrower shall use the proceeds of the Loans and the Letters of Credit only for the respective purposes set forth
in Subparagraph 2.01(g), Subparagraph 2.02(g), and Subparagraph 2.03(h). Borrower shall not use any part of the proceeds of any Loan or any Letter of Credit, directly or indirectly, for the purpose of purchasing or carrying any
Margin Stock or for the purpose of purchasing or carrying or trading in any securities under such circumstances as to involve Borrower, any Lender Party or any Agent in a violation of Regulations G, T, U or X issued by the Federal Reserve Board.

 (g) General Business Operations. Each of Borrower and its Subsidiaries shall (i) preserve and maintain its existence as a
limited liability company and all of its material rights, privileges and franchises reasonably necessary to the conduct of its business (provided that Borrower may take any action permitted by Subparagraph 5.02(d) and may dissolve or
liquidate any Subsidiary if such dissolution or liquidation is not reasonably likely to have a Material Adverse Effect), (ii) conduct its business activities in compliance with all Requirements of Law and Contractual Obligations applicable to
such Person, the violation of which is reasonably likely to have a Material Adverse Effect, (iii) keep all property useful and necessary in its business in good working order and condition, ordinary wear and tear excepted, and
(iv) maintain its chief executive office and principal place of business in Hawaii. 
 (h) Separate Operations. Borrower shall
take all reasonable steps necessary to maintain its status as a separate legal entity and to make it manifest to third parties that Borrower is an entity with assets and liabilities separate and distinct from its Subsidiaries, and any other
Affiliates. Without limiting the generality of the foregoing, Borrower shall maintain separate bank accounts from its Affiliates and shall not commingle its funds with the funds of its Affiliates. 

(i) Certain Post Closing Matters. After the Closing Date, Borrower shall cause all deposit and cash management accounts to be
maintained with Agent (provided that any credit card processing service and lock box service accounts may be maintained with other financial institutions if all balances in each such account are swept daily into an account maintained with Agent).

  
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 (j) Annual Bank Meetings. At least once during each fiscal year of Borrower, Borrower
shall conduct a bank meeting (either telephonically or in person) with representatives of Agent and each of the Lenders wherein representatives of Borrower will report on the financial condition and results of operations of Borrower and its
Subsidiaries for the immediately preceding period and report on such other matters as Agents and such Lenders may reasonably request. 
 (k)
Compliance With U.S.A. Patriot Act and Anti-Terrorism Laws. Agent and Lenders hereby notify Borrower that pursuant to the requirements of the U.S.A. Patriot Act (Title III of Pub. L. 107-56, signed into law October 26, 2001) (the
“Patriot Act”), and their respective policies and practices, Agent and Lenders are required to obtain, verify and record certain information and documentation that identifies Borrower and each principal of Borrower, which
information includes the name and address of Borrower and each such principal and such other information that will allow Lender to identify such party in accordance with the Patriot Act. Borrower is not, and will not become a person (individually, a
“Prohibited Person” and collectively, “Prohibited Persons”) either listed on the specially Designated Nationals and Blocked Persons List maintained by the Office of Foreign Asset Control, U.S. Department of the
Treasury (the “OFAC List”) or otherwise subject to any other prohibition or restriction imposed by laws, regulations or executive orders, including Executive Order No. 13224, administered by the Office of the Foreign Asset
Control, U.S. Department of the Treasury (collectively the “OFAC Rules”). Borrower (i) is not and will not become owned or controlled by a Prohibited Person, (ii) is not acting and will not act for or on behalf of a
Prohibited Person, (iii) is not otherwise associated with and will not become associated with a Prohibited Person, (iv) is not providing and will not provide material, financial or technological support or other services to or in support
of acts of terrorism of a Prohibited Person. Borrower will not transfer any interest in Borrower to, or enter into a Lease with, any Prohibited Person. Borrower will not enter into any Lease or undertake any activities related to this Agreement in
violation of the Federal Bank Secrecy Act, 31 U.S.C. § 5311, et seq. or any federal or state laws, including but not limited to, 18 U.S.C. §§ 1956, 1957 and 1960 prohibiting money laundering and terrorist
financing (collectively, “Anti-Money Laundering Laws”). Borrower shall provide information as Agent or Lenders may require from time to time to permit Agent and Lenders to satisfy their obligations under the Patriot Act, the OFAC
Rules or the Anti-Money Laundering Laws. Borrower shall immediately notify Agent if Borrower has knowledge that any tenant, any principal or any member or beneficial owner of Borrower or any principal of Borrower is or becomes a Prohibited Person or
(A) is convicted of, (B) pleads nolo contendere to (C) is indicted on or (D) is arraigned and held over on charges under the Anti-Money Laundering Laws or involving money laundering or predicate crimes to money laundering. 

5.02 Negative Covenants. Until the termination of this Agreement and the satisfaction in full by Borrower of all Obligations (other
than contingent indemnification obligations and other provisions in the Credit Documents that expressly survive the termination thereof), Borrower will comply, and will cause compliance, with the following negative covenants, unless Majority Lenders
shall otherwise consent in writing: 
 (a) Indebtedness. Neither Borrower nor any of its Subsidiaries shall create, incur, assume or
permit to exist any Indebtedness except for the following (“Permitted Indebtedness”): 
 (i) The Obligations of Borrower
under the Credit Documents; 

  
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 (ii) Indebtedness under purchase money loans and Capital Leases incurred by Borrower or any of
its Subsidiaries to finance the acquisition by such Person of real property, fixtures or equipment provided that in each case, (A) such Indebtedness is incurred by such Person at the time of, or not later than thirty (30) days after, the
acquisition by such Person of the property so financed, (B) such Indebtedness does not exceed the purchase price of the property so financed, and (C) the aggregate principal amount outstanding of such Indebtedness shall not exceed
$1,000,000 at any time; 
 (iii) Indebtedness arising from the endorsement of instruments for collection in the ordinary course of
Borrower’s or a Subsidiary’s business; 
 (iv) Indebtedness of Borrower and its Subsidiaries under interest rate protection,
currency swap and foreign exchange arrangements, provided that all such arrangements are entered into in connection with bona fide hedging operations and not for speculation; 

(v) Indebtedness of Borrower and its Subsidiaries with respect to surety, appeal, indemnity, performance or other similar bonds in the
ordinary course of business; 
 (vi) Indebtedness of Borrower and its Subsidiaries under initial or successive refinancings of any
Indebtedness permitted by clause (ii) above, provided that (A) the principal amount of any such refinancing does not exceed the principal amount of the Indebtedness being refinanced, and (B) the material terms and provisions of
any such refinancing (including maturity, redemption, prepayment, default and subordination provisions) are no less favorable to Lenders than the Indebtedness being refinanced; 

(vii) Guaranty Obligations of Borrower for the obligations of buying organizations or purchasing agents acting on behalf of Borrower and its
Subsidiaries for purchases of inventory in the ordinary course of Borrower’s and its Subsidiaries’ business, provided that the obligations guaranteed by Borrower arise only in connection with such purchases of inventory on behalf of
Borrower and its Subsidiaries; 
 (viii) Indebtedness of Borrower and its Subsidiaries under Capital Leases of real property; 

(ix) Indebtedness of Borrower and its Subsidiaries for trade accounts payable, provided that such accounts arise in the ordinary course of
business; 
 (x) Indebtedness of Borrower and its Subsidiaries for expense accruals in the ordinary course of business; 

(xi) Indebtedness of Borrower and its Subsidiaries with respect to any financed portion of insurance policy premiums, provided that such
financed portion is not past due; and 
 (xii) Other Indebtedness not included in 5.02(a)(i)-(xi) above of Borrower and its
Subsidiaries not exceeding $100,000 in aggregate amount at any time. 

  
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 (b) Liens. Neither Borrower nor any of its Subsidiaries shall create, incur, assume or
permit to exist any Lien on or with respect to any of its assets or property of any character, whether now owned or hereafter acquired, except for the following (“Permitted Liens”): 

(i) Liens in favor of Agent securing the Obligations; 

(ii) Liens for taxes or other governmental charges not at the time delinquent or thereafter payable without penalty or being contested in
good faith, provided that adequate reserves for the payment thereof have been established in accordance with GAAP; 
 (iii) Liens of
carriers, warehousemen, mechanics, materialmen, vendors, and landlords and other similar Liens imposed by law incurred in the ordinary course of business for sums not overdue or being contested in good faith, provided that adequate reserves for the
payment thereof have been established in accordance with GAAP; 
 (iv) Deposits under workers’ compensation, unemployment insurance
and social security laws or to secure the performance of bids, tenders, contracts (other than for the repayment of borrowed money) or leases, or to secure statutory obligations of surety or appeal bonds or to secure indemnity, performance or other
similar bonds in the ordinary course of business; 
 (v) Zoning restrictions, easements, rights-of-way, title irregularities and other
similar encumbrances, which alone or in the aggregate are not substantial in amount and do not materially detract from the value of the property subject thereto or interfere with the ordinary conduct of the business of Borrower or any of its
Subsidiaries; 
 (vi) Liens on property existing at the time such property is acquired by Borrower or any of its Subsidiaries provided
that, in each case, such Lien was not created in contemplation of such acquisition by Borrower or such Subsidiary; 
 (vii) Liens on the
property or assets of any Subsidiary of Borrower in favor of Borrower or any other Subsidiary of Borrower; 
 (viii) Liens securing the
Indebtedness of Borrower and its Subsidiaries under operating leases and Capital Leases, provided that, in the case of each lease, such Lien (A) does not extend to any property other than the property leased pursuant to such lease and
(B) does not secure any Indebtedness other than the Indebtedness under such lease; 
 (ix) Banker’s Liens and similar Liens
(including set-off rights) in respect of bank deposits; 
 (x) Liens created under fuel terminalling and storage agreements entered into in
the normal course of business; 
 (xi) Liens arising out of any conditional sale, title retention, consignment or other similar
arrangements for the sale of goods entered into by Borrower or any of its Subsidiaries in the ordinary course of business to the extent such Liens do not attach to any assets other than the goods subject to such arrangements; 

  
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 (xii) Liens (A) incurred in the ordinary course of business in connection with the purchase
or shipping of goods or assets (or the related assets and proceeds thereof), which Liens are in favor of the seller or shipper of such goods or assets and only attach to such goods or assets, and (B) 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; and 
 (xiii) Liens incurred in
the ordinary course of business in connection with the financing of insurance premiums, to the extent of such financing is permitted under this Agreement. 

(c) Asset Dispositions. Neither Borrower nor any of its Subsidiaries shall sell, lease, transfer or otherwise dispose of all or any
substantial part of its assets or property, whether now owned or hereafter acquired, except for the following: 
 (i) Sales of inventory by
Borrower and its Subsidiaries in the ordinary course of their businesses; 
 (ii) Sales of surplus, damaged, worn or obsolete equipment;

 (iii) Sales or other dispositions of Investments permitted by Subparagraph 5.02(f) for not less than fair market value; 

(iv) Sales or assignments of defaulted receivables to a collection agency in the ordinary course of business; 

(v) Subleases and leases of real property, provided that each such sublease or lease (A) shall be for a fair market rent and
(B) shall have other terms which then would prevail in the market for similar transactions between unaffiliated parties dealing at arm’s length; 

(vi) Any sale and leaseback of assets or property, provided that, in each case, (A) the sale is for fair market value, (B) the
lease is for a fair market rent for sales and leasebacks, (C) the other terms of the transaction are terms which then would prevail in the market for similar transactions between unaffiliated parties dealing at arm’s length, and
(D) the aggregate fair market value (determined at the time of the applicable sale) of all assets or property subject to such sales shall not exceed $1,000,000; 

(vii) Licenses by Borrower of its trademarks, in the ordinary course of its business, provided that, in each case, (A) the license is
for a fair market royalty, (B) the other terms of the transaction are terms which then would prevail in the market for similar transactions between unaffiliated parties dealing at arm’s length, (C) all steps necessary to perfect
Agent’s security interest in the license agreement, royalty payments and other rights of Borrower in connection therewith have been taken and (D) such license does not materially impair Borrower’s right to use the name “HIE
Retail” in Hawaii or the value of such name to Borrower in Hawaii; and 

  
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 (viii) Other sales, leases, transfers and disposals of assets, provided that the aggregate value
of all such property (based upon the greater of the fair market or book value of such property) so sold, leased, transferred or otherwise disposed of in an fiscal year does not exceed $500,000 per year. 

(d) Change in Control. There shall not be any change in Control of Borrower or any of its subsidiaries. 

(e) Mergers, Acquisitions, Etc. Neither Borrower nor any of its Subsidiaries shall consolidate with or merge into any other Person or
permit any other Person to merge into it, acquire or establish any Subsidiary or acquire all or substantially all of the assets of any other Person, except that: 

(i) Any wholly owned Subsidiary of Borrower (or any Subsidiary which is wholly-owned except for any voting stock legally required to be held
by another Person which is less than one percent (1%) in aggregate of the Subsidiary’s outstanding voting stock) may merge into any other such Subsidiary of Borrower; and 

(ii) Any Subsidiary may merge into Borrower provided that Borrower is the surviving corporation and so long as no Event of Default exists at
the time of such merger or would result therefrom. 
 (f) Investments. Neither Borrower nor any of its Subsidiaries shall make any
Investment except the following: 
 (i) Direct obligations of, or obligations the principal and interest on which are unconditionally
guaranteed by, the United States of America or obligations of any agency of the United States of America to the extent such obligations are backed by the full faith and credit of the United States of America, in each case maturing within one year
from the date of acquisition thereof; 
 (ii) Certificates of deposit maturing within one year from the date of acquisition thereof issued
by a commercial bank or trust company organized under the laws of the United States of America or a state thereof or that is a Lender, provided that (A) such deposits are denominated in Dollars, (B) such bank or trust company has capital,
surplus and undivided profits of not less than $100,000,000 and (C) such bank or trust company has certificates of deposit or other debt obligations rated at least A-1 (or its equivalent) by Standard and Poor’s Ratings Group or P-1 (or its
equivalent) by Moody’s Investors Service, Inc.; 
 (iii) Open market commercial paper maturing within 270 days from the date of
acquisition thereof issued by a corporation organized under the laws of the United States of America or a state thereof, provided such commercial paper is rated at least A-1 (or its equivalent) by Standard and Poor’s Ratings Group or P-1 (or
its equivalent) by Moody’s Investors Service, Inc.; and 

  
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 (iv) Any repurchase agreement entered into with a commercial bank or trust company organized
under the laws of the United States of America or a state thereof or that is a Lender, provided that (A) such bank or trust company has capital, surplus and undivided profits of not less than $100,000,000, (B) such bank or trust company
has certificates of deposit or other debt obligations rated at least A-1 (or its equivalent) by Standard and Poor’s Ratings Group or P-1 (or its equivalent) by Moody’s Investors Service, Inc., (C) the repurchase obligations of such
bank or trust company under such repurchase agreement are fully secured by a perfected security interest in a security or instrument of the type described in clause (i), (ii) or (iii) above and (D) such security or instrument
so securing the repurchase obligations has a fair market value at the time such repurchase agreement is entered into of not less than 100% of such repurchase obligations. 

(g) Dividends, Redemptions, Etc. Borrower or any of its Subsidiaries may pay dividends or make any distributions on its Equity
Securities; purchase, redeem, retire, defease or otherwise acquire for value any of its Equity Securities; return any capital to any holder of its Equity Securities as such; make any distribution of assets, Equity Securities, obligations or
securities to any holder of its Equity Securities as such; or set apart any sum for any such purpose as long as the payment of such dividends, redemption or other transaction: 

(i) Shall not result in a change of Control of Borrower; and 

(ii) Shall not result in Borrower failing to be in compliance with any of the provisions set forth in Paragraph 5.02 of this Credit
Agreement. 
 (h) Change in Business. Neither Borrower nor any of its Subsidiaries shall engage, either directly or indirectly
through Affiliates, in any business substantially different in any material respect from its present business. 
 (i) ERISA. Neither
Borrower nor any ERISA Affiliate shall (i) adopt or institute any defined benefit Employee Benefit Plan that is an employee pension benefit plan within the meaning of Section 3(2) of ERISA, (ii) take any action which will result in
the partial or complete withdrawal, within the meanings of sections 4203 and 4205 of ERISA, from a Multiemployer Plan, (iii) engage or permit any Person to engage in any transaction prohibited by section 406 of ERISA or section 4975 of the Code
involving any Employee Benefit Plan or Multiemployer Plan which would subject either Borrower or any ERISA Affiliate to any tax, penalty or other liability including a liability to indemnify, (iv) incur or allow to exist any accumulated funding
deficiency (within the meaning of section 412 of the Code or section 302 of ERISA), (v) fail to make full payment when due of all amounts due as contributions to any Employee Benefit Plan or Multiemployer Plan, (vi) fail to comply with the
requirements of section 4980B of the Code or Part 6 of Title I(B) of ERISA, or (vii) adopt any amendment to any Employee Benefit Plan which would require the posting of security pursuant to section 401(a)(29) of the Code, where singly or
cumulatively, the above would have a Material Adverse Effect. 
 (j) Transactions With Affiliates. Except as set forth on
Schedule 5.02(i), neither Borrower nor any of its Subsidiaries shall enter into any Contractual Obligation with any Affiliate or engage in any other transaction with any Affiliate except upon terms at least as favorable to Borrower or such
Subsidiary as an arms length transaction with unaffiliated Persons. 
 (k) Accounting Changes. Neither Borrower nor any of its
Subsidiaries shall change (i) its fiscal year (currently a calendar year) or (ii) its accounting practices except as permitted by GAAP. 

  
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 5.03 Financial Covenants. Borrower shall maintain Borrower’s financial status in
accordance with the following: 
 (a) A maximum Leverage Ratio measured commencing on the Closing Date and building up to a rolling
four-quarter basis, as follows: 
  

			
	 Period (during and as of last day of)
	  	Maximum Leverage Ratio
	 2013 Fiscal Year
	  	5.75 to 1.00
	 2014 Fiscal Year
	  	5.50 to 1.00
	 2015 Fiscal Year
	  	5.25 to 1.00
	 2016 Fiscal Year
	  	5.00 to 1.00
	 2017 Fiscal Year, and at all times thereafter
	  	4.75 to 1.00

 (b) A minimum Fixed Charge Coverage Ratio of not less than 1.15:1.00, to be measured commencing on the Closing
Date and building up to a rolling four quarter basis. 
 (c) The financial covenants shall be tested on a quarterly basis commencing with
fiscal quarter ending March 31, 2014 and calculated on a trailing four-quarter basis. For the first full fiscal quarter following the Closing Date, all financial covenants shall be calculated using the preceding quarter times 4 to annualize.
For the second full fiscal quarter following the Closing Date, all financial covenants shall be calculated using the preceding two quarters times 2 to annualize. For the third full fiscal quarter following the Closing Date, all financial covenants
shall be calculated using the preceding three quarters times 1.33 to annualize. 
  

	SECTION VI.	DEFAULT. 

 6.01 Events of Default. The occurrence or existence of any one
or more of the following shall constitute an “Event of Default” hereunder: 
 (a) Borrower (i) shall fail to pay when
due any principal payment or any Reimbursement Payment, (ii) fail to pay when due any interest payment or any fees payable pursuant to Paragraph 2.07 and such failure shall continue for three (3) Business Days after notice thereof
has been given to Borrower by Agent or (iii) shall fail to pay when due any other payment required under the terms of this Agreement or any of the other Credit Documents and such failure shall continue for five (5) Business Days after
notice thereof has been given to Borrower by Agent; or 
 (b) Borrower shall fail to observe or perform any other covenant, obligation,
condition or agreement contained in this Agreement or the other Credit Documents and such failure shall continue for twenty (20) days after notice thereof has been given to Borrower by Agent; or 

  
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 (c) Any written representation, warranty, certificate, information or other statement (financial
or otherwise) made or furnished by any officer of Borrower to Agent or any Lender in or in connection with this Agreement or any of the other Credit Documents shall be materially false, incorrect, incomplete or misleading in any material respect
when made or furnished; or 
 (d) Borrower or any of Borrower’s Subsidiaries shall (i) apply for or consent to the appointment of
a receiver, trustee, liquidator or custodian of itself or of all or a substantial part of its property, (ii) be unable, or admit in writing its inability, to pay its debts generally as they mature, (iii) make a general assignment for the
benefit of its or any of its creditors, (iv) be dissolved or liquidated in full or in part (except for the dissolution of any of Borrower’s Subsidiaries to the extent permitted by Subparagraph 5.01(g)), (v) become insolvent (as such
term may be defined or interpreted under any applicable statute), (vi) commence a voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to itself or its debts under any bankruptcy, insolvency or
other similar law now or hereafter in effect or consent to any such relief or to the appointment of or taking possession of its property by any official in an involuntary case or other proceeding commenced against it, or (vii) take any action
for the purpose of effecting any of the foregoing; or 
 (e) Proceedings for the appointment of a receiver, trustee, liquidator or custodian
of Borrower or any of Borrower’s Subsidiaries or of all or a substantial part of the property thereof, or an involuntary case or other proceedings seeking liquidation, reorganization or other relief with respect to Borrower or any of
Borrower’s Subsidiaries or the debts thereof under any bankruptcy, insolvency or other similar law now or hereafter in effect shall be commenced and an order for relief entered or such proceeding shall not be dismissed or discharged within
sixty (60) days of commencement; or 
 (f) (i) A final judgment or order for the payment of money in excess of $5,000,000 (exclusive of
amounts which are covered by (A) insurance issued by an insurer satisfying the rating requirements set forth in Subparagraph 5.01(d), (B) cash reserves of Borrower or (C) rights of indemnification or contribution owed by a
credit worthy obligor) shall be rendered against Borrower or any of its Subsidiaries and the same shall remain undischarged for a period of thirty (30) days during which execution shall not be effectively stayed or (ii) any judgment lien,
writ, assessment, writ of attachment, tax lien, execution lien or other order of court in aid of execution, garnishment, charging order or any other involuntary lien or similar process in excess of $5,000,000 shall be issued or levied against the
property of Borrower or any of its Subsidiaries and such lien, writ, assessment, order or process shall not be released, stayed, vacated or otherwise dismissed within thirty (30) days after issue or levy; or 

(g) Any Credit Document or any material term thereof shall cease to be, or be asserted by Borrower not to be, a legal, valid and binding
obligation of Borrower enforceable in accordance with its terms; or 
 (h) Any Reportable Event occurs which constitutes grounds for the
termination of any Employee Benefit Plan by the PBGC or for the appointment of a trustee by the PBGC to administer any Employee Benefit Plan, or any Employee Benefit Plan shall be terminated with unfunded liabilities within the meaning of Title IV
of ERISA or a trustee shall be appointed by the PBGC to administer any Employee Benefit Plan; or 

  
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 (Any of the events or conditions set forth in Subparagraphs 6.01(a)-(h), prior to the giving of any
required notice or the expiration of any specified grace period, shall constitute a “Default” hereunder.) 
 6.02 Cure
Right. 
 (a) In the event an Event of Default arises from Borrower’s failure to comply with Paragraph 5.03 of this Agreement (the
“Financial Covenants”), then within ten (10) Business Days after the earlier of (A) Borrower becoming aware that such Event of Default exists and (B) the Agent notifying Borrower of the occurrence of such Event of Default,
Holdings or its Affiliates may make cash capital contributions to Borrower (collectively the “Cure Right”), and upon the receipt by Borrower of such cash (the “Specified Equity Contribution” and the amount of such Specified
Equity Contribution, the “Cure Amount”) pursuant to the exercise by Holdings or its Affiliates of such Cure Right, Borrower shall immediately use the Cure Amount to repay any outstanding Term Loans. The Cure Amount must be in an amount
sufficient to satisfy all covenants prescribed in Paragraph 5.03 for the period being measured, and is to be the greater of the following: 

(i) for any default of the Leverage Ratio, the Cure Amount shall be sufficient to reduce the Funded Debt component of the Leverage Ratio to a
level sufficient to satisfy the Maximum Leverage Ratio as required pursuant to Paragraph 5.03(a); and 
 (ii) for any default of the
Fixed Charge Coverage Ratio, the Cure Amount shall be the amount of principal reduction required to satisfy the Minimum Fixed Charge Coverage Ratio as prescribed in Paragraph 5.03(b) times the years remaining in the ten (10) year
amortization period of the Term Loan. Thereafter, the regularly scheduled quarterly principal payments on the Term Loan pursuant to Paragraph 2.03(g) will be reduced by the amount of principal reduction required to satisfy the Minimum Fixed Charge
Coverage Ratio divided by 4 (the “Revised Principal Payment”). 
 (b) After the payment of any Cure Amount in accordance with
Paragraph 6.02(a), the applicable Financial Covenant(s) shall be recalculated giving effect to the relevant adjustments set forth in subparagraphs 6.02(a)(i) and/or (ii). 

(c) After giving effect to the foregoing recalculations and Specified Equity Contribution, Borrower shall deliver to Agent a Compliance
Certificate reflecting the revised calculations of the Financial Covenants for the applicable period, certifying as to the Cure Amount and the date that the specified Equity Contribution was received and then Borrower shall be deemed to have
complied with the Financial Covenants as to the relevant date of determination with the same effect as though there had been no failure to comply therewith at such date, and the applicable breach or default of the Financial Covenants that had
occurred shall be deemed cured for purposes of this Agreement. 
 (d) The ability to exercise the Cure Right above will be limited to one
(1) occurrence during any twenty-four (24) month period. 
 (e) If the Cure Amount is received to satisfy a Fixed Charge Coverage
Ratio Default, the Revised Principal Payment shall be used for future covenant compliance purposes. 

  
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 6.03 Remedies. Upon the occurrence or existence of any Event of Default and at any time
thereafter during the continuance of such Event of Default, Agent may, with the consent of the Majority Lenders, or shall, upon instructions from the Super-Majority Lenders, by written notice to Borrower, (a) terminate the Commitments and the
obligations of the Lender Parties to make Loans or issue Letters of Credit, (b) declare all outstanding Obligations payable by Borrower to be immediately due and payable without presentment, demand, protest or any other notice of any kind, all
of which are hereby expressly waived, anything contained herein or in the Notes to the contrary notwithstanding, and/or (c) direct Borrower to deliver to Agent funds in an amount equal to the aggregate amount available for drawing of all
outstanding Letters of Credit. Borrower immediately shall deliver to Agent all funds directed by Agent pursuant to clause (c) above, and Agent shall hold such funds in a non-interest bearing account as additional Collateral for the
Obligations. Borrower hereby grants to Agent, for the benefit of the Agent and the Lenders, a security interest in such funds and such account. In addition to the foregoing remedies, upon the occurrence or existence of any Event of Default, Agent
may exercise any right, power or remedy permitted to it by law, either by suit in equity or by action at law, or both. Immediately after taking any action under this Paragraph 6.03, Agent shall notify each Lender of such action. 

 

	SECTION VII.	AGENTS AND RELATIONS AMONG LENDERS. 

 7.01 Appointment, Powers and
Immunities. Each Lender hereby appoints and authorizes Agent to act as its agent hereunder and under the other Credit Documents with such powers as are expressly delegated to Agent by the terms of this Agreement and the other Credit Documents,
together with such other powers as are reasonably incidental thereto. Agent shall not have any duties or responsibilities except those expressly set forth in this Agreement or in any other Credit Document, be a trustee for any Lender or have any
fiduciary duty to any Lender. Notwithstanding anything to the contrary contained herein, Agent shall not be required to take any action which is contrary to this Agreement or any other Credit Document or applicable law. Neither Agent nor any Lender
shall be responsible to any other Lender for any recitals, statements, representations or warranties made by Borrower contained in this Agreement or in any other Credit Document, for the value, validity, effectiveness, genuineness, enforceability or
sufficiency of this Agreement, or any other Credit Document or for any failure by Borrower to perform its obligations hereunder or thereunder. Agent may employ agents and attorneys-in-fact and shall not be responsible to any Lender for the
negligence or misconduct of any such agents or attorneys in fact selected by Agent with reasonable care. Neither the Agent or its directors, officers, employees or agents shall be responsible to any Lender for any action taken or omitted to be taken
by it or them hereunder or under any other Credit Document or in connection herewith or therewith, except for its or their own gross negligence or willful misconduct. Except as otherwise provided under this Agreement, Agent shall take such action
with respect to the Credit Documents as shall be directed by the Majority Lenders. The Agent shall promptly furnish to each Lender copies of all material documents, reports, certificates, financial statements and notices furnished to Agent by
Borrower; provided, however, that Agent shall not be liable to any Lender for its failure to provide copies of such material documents, reports, certificates, financial statements and notices unless such failure constitutes gross
negligence or willful misconduct by the Agent. 

  
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 7.02 Reliance by Agent. Agent shall be entitled to rely upon any certificate, notice or
other document (including any email or facsimile) believed by it in good faith to be genuine and correct and to have been signed or sent by or on behalf of the proper Person or Persons, and upon advice and statements of legal counsel, independent
accountants and other experts selected by Agent with reasonable care. As to any other matters not expressly provided for by this Agreement, Agent shall not be required to take any action or exercise any discretion, but Agent shall be required to act
or to refrain from acting upon instructions of the Majority Lenders and shall in all cases be fully protected by the Lenders in acting, or in refraining from acting, hereunder or under any other Credit Document in accordance with the instructions of
the Majority Lenders, and such instructions of the Majority Lenders and any action taken or failure to act pursuant thereto shall be binding on Agent and all Lenders. 

7.03 Defaults. Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default unless Agent
has received a notice from a Lender or Borrower, referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “Notice of Default”. If Agent receives such a notice of the occurrence of a Default
or Event of Default, Agent shall give prompt notice thereof to the Lenders. Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Majority Lenders; provided, however, that
until Agent shall have received such directions, Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interest of the
Lenders. 
 7.04 Indemnification. Without limiting the Obligations of Borrower hereunder, each Lender agrees to indemnify Agent,
ratably in accordance with such Lender’s Proportionate Share, for any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever which may at any
time be imposed on, incurred by or asserted against Agent in any way relating to or arising out of this Agreement or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby or the enforcement
of any of the terms hereof or thereof or of any such other documents; provided, however, that no Lender shall be liable for any of the foregoing to the extent they arise from Agent’s gross negligence or willful misconduct. Agent
shall be fully justified in refusing to take or to continue to take any action hereunder unless it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of
taking or continuing to take any such action. The obligations of each Lender under this Paragraph 7.04 shall survive the payment and performance of the Obligations, the termination of this Agreement and any Lender ceasing to be a party to
this Agreement. 
 7.05 Non Reliance. Each Lender represents that it has, independently and without reliance on Agent, or any other
Lender, and based on such documents and information as it has deemed appropriate, made its own appraisal of the financial condition and affairs of Borrower and the Subsidiaries, including, but not limited to, all environmental due diligence
including, but not limited to the due diligence report prepared by Bureau Veritas dated October 23, 2013, and its own decision to enter into this Agreement and agrees that it will, independently and without reliance upon Agent or any other
Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own appraisals and decisions in taking or not taking action under this Agreement. Neither Agent nor any Lender shall be required to
keep any Lender informed as to the performance or observance by Borrower of the obligations under this Agreement or any other document referred to or provided for herein or to make inquiry of, or to inspect the properties or books of Borrower.
Except for notices, reports and other documents and information expressly required to be furnished to the Lenders by Agent hereunder, neither Agent nor any Lender shall have any duty or responsibility to provide Agent or any Lender with any credit
or other information concerning Borrower, which may come into the possession of Agent or any Lender or any of its or their Affiliates. 

  
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 7.06 Resignation of Agent. Subject to the appointment and acceptance of a successor Agent
as provided below, Agent may resign at any time by giving notice thereof to the Lenders. Upon any such resignation, the Majority Lenders shall have the right to appoint a successor Agent, which, provided that no Event of Default has occurred and is
continuing, shall be reasonably acceptable to Borrower. If no successor Agent shall have been appointed by the Majority Lenders and shall have accepted such appointment within thirty (30) days after the retiring Agent’s giving of notice of
resignation, then the retiring Agent may, on behalf of the Lenders, appoint a successor Agent, which (a) shall be a bank having a combined capital, surplus and retained earnings of not less than U.S. $500,000,000 and (b) provided that no
Event of Default has occurred and is continuing, shall be reasonably acceptable to Borrower. Upon the acceptance of any appointment as Agent hereunder by a successor Agent, such successor Agent shall thereupon succeed to and become vested with all
the rights, powers, privileges and duties of the retiring Agent, and the retiring Agent shall be discharged from its duties and obligations hereunder. After any retiring Agent’s resignation as Agent, the provisions of this Section VII
shall continue in effect for its benefit in respect of any actions taken or omitted to be taken by it while it was acting as Agent. 
 7.07
Authorization. Agent is hereby authorized by the Lenders to execute, deliver and perform, each of the Credit Documents to which Agent is or is intended to be a party and each Lender agrees to be bound by all of the agreements of Agent
contained in the Credit Documents. 
 7.08 Agent in Its Individual Capacity. Agent and its affiliates may make loans to, accept
deposits from and generally engage in any kind of business with Borrower and its Subsidiaries and affiliates as though such Agent were not an Agent hereunder. With respect to Loans made and Letters of Credit issued by Agent in its capacity as a
Lender and/or Issuing Bank, Agent shall have the same rights and powers under this Agreement and the other Credit Documents as any other Lender and may exercise the same as though it was not an Agent. 

  
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	SECTION VIII.	MISCELLANEOUS. 

 8.01 Notices. Except as otherwise provided herein, all
notices, requests, demands, consents, instructions or other communications to or upon Borrower, any Lender or Agent under this Agreement or the other Credit Documents shall be in writing and faxed, mailed or delivered, if to Borrower or Agent at its
respective facsimile number or address set forth below or, if to any Lender, at the address or facsimile number specified beneath the heading “Address for Notices” under the name of such Lender in Schedule I (or to such other
facsimile number or address for any party as indicated in any notice given by that party to the other parties). All such notices and communications shall be effective (a) when sent by Federal Express or other overnight service of recognized
standing, upon receipt; (b) when mailed, first class postage prepaid and addressed as aforesaid through the United States Postal Service, upon receipt; (c) when delivered by hand, upon delivery; (d) when faxed, upon confirmation of
receipt by the recipient; and by electronic mail (at such email addresses as Agent or Borrower, as applicable, may designate to each other in accordance herewith), upon receipt; provided, however, that any notice delivered to Agent
under Section II shall not be effective until received by such Person. 
  

			
	Agent:	  	Bank of Hawaii
		  	Corporate Banking Department
		  	130 Merchant Street, 20th Floor
		  	Honolulu, Hawaii 96813
		  	Attn: Mr. Darrell McCorquodale
		  	Telephone: (808) 694-8286
		  	Facsimile: (808) 694-8301
		  	Email: darrell.mccorquodale@boh.com
		
	Borrower:	  	HIE Retail, LLC
		  	c/o Hawaii Pacific Energy, LLC
		  	800 Gessner Road, Suite 875
		  	Houston, Texas 77024
		  	Attn: Brice Tarzwell, Chief Legal Officer
		  	Telephone: (832) 850-2551
		  	Facsimile: (832) 565-1207
		  	Email: btarzwell@txnenergy.com

 Each Notice of Borrowing, Notice of Loan Conversion, Notice of Interest Period Selection and LC Application shall be given by
Borrower to Agent at the address referred to above during such Person’s normal business hours; provided, however, that any such notice or application received by any such Person after 11:00 a.m. on any Business Day shall be deemed
received by Agent on the next Business Day. In any case where this Agreement authorizes notices, requests, demands or other communications by Borrower to Agent or any Lender to be made by telephone or facsimile, Agent or any Lender may conclusively
presume that anyone purporting to be a person designated in any incumbency certificate or other similar document received by such Agent or Lender is such a person. 

8.02 Expenses. Borrower shall pay on demand, whether or not any Loan is made or any Letter of Credit is issued hereunder, (a) all
reasonable fees and out-of-pocket expenses, including reasonable attorneys’ fees and expenses, reasonably incurred by Agent in connection with the preparation, negotiation, execution and delivery of, and the exercise of its duties under, the
commitment letter dated as of August 29, 2013 between Borrower and Agent and its structuring of, due diligence relating to and syndication of the credit facilities set forth in this Agreement; (b) all reasonable fees and out-of-pocket
expenses, including reasonable attorneys’ fees and expenses, reasonably incurred by Agent in connection with the preparation, negotiation, execution and delivery of this Agreement and the other Credit Documents, and the preparation,
negotiation, execution and delivery of amendments and waivers hereunder and thereunder; (c) all reasonable fees and out-of-pocket expenses payable to third parties, including reasonable attorneys’ fees and expenses, reasonably incurred by
Agent in connection with the exercise of its duties (including permitted audits not exceeding one per calendar year if no Event of Default has occurred) under this Agreement and the other Credit Documents; and (d) all reasonable fees and
out-of-pocket expenses, including reasonable attorneys’ fees and expenses, incurred by Agent or any Lender in the enforcement or attempted enforcement of any of the Obligations or in preserving any of Agent’s or the Lenders’ rights
and remedies (including all such fees and expenses incurred in connection with any “workout” or restructuring affecting the Credit Documents or the Obligations or any bankruptcy or similar proceeding involving Borrower or any of
Borrower’s Subsidiaries). As used herein, the term “reasonable attorneys’ fees and expenses” shall include, without limitation, reasonable allocable costs and expenses of Agent’s in house legal counsel and staff. 

  
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 8.03 Indemnification. To the fullest extent permitted by law, Borrower agrees to protect,
indemnify, defend and hold harmless Agent, Lenders and their Affiliates and their respective directors, officers, employees, agents and advisors (“Indemnitees”) from and against any and all liabilities, losses, damages or expenses
of any kind or nature and from any suits, claims or demands (including in respect of or for reasonable attorney’s fees and other expenses) arising on account of or in connection with (a) any use by Borrower of any proceeds of the Loans or
any Letter of Credit, (b) any violation or alleged violation of any Requirement of Law by Borrower or any of its Affiliates, (c) any acquisition or proposed acquisition by Borrower or any of its Subsidiaries of the stock or assets (in
whole or in part) of any other Person or (d) the execution, delivery and performance of this Agreement and the other Credit Documents by any of the Indemnitees (unless arising out of any violation by any of the Agent, the Lenders or any of
their Affiliates of any applicable law governing its banking powers); except to the extent such liability arises from the willful misconduct or gross negligence of the Indemnitees. Upon receiving knowledge of any suit, claim or demand asserted by a
third party that Agent or any Lender believes is covered by this indemnity, Agent or such Lender shall give Borrower prompt written notice of the matter (specifying with reasonable particularity the basis therefor) and an opportunity (but not the
obligation) to participate in and defend it, at Borrower’s sole cost and expense, with legal counsel reasonably satisfactory to Agent or such Lender, as the case may be. Any failure or delay of Agent or any Lender to notify Borrower of any such
suit, claim or demand as required by this Paragraph 8.03 or to cooperate in the defense thereof shall not relieve Borrower of its obligations under this Paragraph 8.03 but shall reduce such obligations to the extent of any increase in
those obligations caused solely by any such failure or delay which is unreasonable. The obligations of Borrower under this Paragraph 8.03 shall survive the payment and performance of the Obligations and the termination of this Agreement. 

8.04 Waivers; Amendments. Any term, covenant, agreement or condition of this Agreement or any other Credit Document may be amended or
waived if such amendment or waiver is in writing and is signed by Borrower and the Majority Lenders; provided, however that: 

(a) Any amendment, waiver or consent which (i) amends this Paragraph 8.04; (ii) releases any substantial part of the
Collateral consisting of the Borrower’s membership interests pledged to Agent, accounts and inventory included in the Security Agreement; (iii) amends the definition of Majority Lenders or Super-Majority Lenders; (iv) amends
Subparagraph 8.05(a); (v) increases the Total Credit at any time or (vi) release guaranties, if any, must be in writing and signed by all Lenders; 

  
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 (b) Any amendment, waiver or consent which (i) increases the Revolving Loan Commitment,
(ii) extends the Revolving Loan Maturity Date, (iii) reduces the principal of or interest on any Revolving Loan or any fees or other amounts payable for the account of the Lenders hereunder, or (iv) postpones any date fixed for any
payment of the principal of or interest on any Revolving Loans or any fees or other amounts payable for the account of the Lenders hereunder or thereunder, must be in writing and signed by all Lenders; any amendment, waiver or consent which
(A) increases the Term Loan Commitment, (B) extends the Term Loan Maturity Date, (C) reduces the principal of or interest on the Term Loan or any fees or other amounts payable for the account of the Lenders hereunder, or
(D) postpones any date fixed for any payment of the principal of or interest on any Term Loan or any fees or other amounts payable for the account of the Lenders hereunder or thereunder, must be in writing and signed by all Lenders, provided
that only the consent of the Majority Lenders shall be required to revoke the application of the default interest rate; 
 (c) Any
amendment, waiver or consent which increases or decreases any Revolving Loan Proportionate Share or Term Loan Proportionate Share of any Lender must be in writing and signed by such Lender; 

(d) Any amendment, waiver or consent which increases the LC Commitment or otherwise affects the rights or obligations of Issuing Bank must be
signed by Issuing Bank; 
 (e) Any amendment, waiver or consent which affects the rights or obligations of Agent must be in writing and
signed by Agent. 
 No failure or delay by Agent or any Lender in exercising any right hereunder shall operate as a waiver thereof or of any other right nor
shall any single or partial exercise of any such right preclude any other further exercise thereof or of any other right. Unless otherwise specified in such waiver or consent, a waiver or consent given hereunder shall be effective only in the
specific instance and for the specific purpose for which given. 
 8.05 Successors and Assigns. 

(a) Binding Effect. This Agreement and the other Credit Documents shall be binding upon and inure to the benefit of Borrower, the
Lenders, Agent, all future holders of the Notes and their respective successors and permitted assigns, except that Borrower may not assign or transfer any of its rights or obligations under any Credit Document without the prior written consent of
Agent and each Lender. All references in this Agreement to any Person shall be deemed to include all successors and assigns of such Person. 

  
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 (b) Participations. Any Lender may, in the ordinary course of its commercial banking
business and in accordance with applicable law, at any time sell to one or more banks or other financial institutions (“Participants”) participating interests in any Loan owing to such Lender, any Note held by such Lender, any
Commitment of such Lender or any other interest of such Lender under this Agreement and the other Credit Documents; provided, however, that no Lender may sell a participating interest in its Loans and Commitments which is in a
principal amount of less than Five Million and No/100 Dollars ($5,000,000.00). In the event of any such sale by a Lender of participating interests to a Participant, such Lender’s obligations under this Agreement to the other parties to this
Agreement shall remain unchanged, such Lender shall remain solely responsible for the performance thereof, such Lender shall remain the holder of any such Note for all purposes under this Agreement and Borrower, such Lender shall retain the right to
approve amendments and waivers and other voting rights hereunder and Agent shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement; provided,
however, that any agreement pursuant to which any Lender sells a participating interest to a Participant may require the selling Lender to obtain the consent of such Participant in order for such Lender to agree in writing to any amendment of
a type specified in clause (i), (ii), (iii) or (iv) of Subparagraph 8.05(b). Borrower agrees that if amounts outstanding under this Agreement and the other Credit Documents are due and unpaid, or shall have been declared or shall
have become due and payable upon the occurrence of an Event of Default, each Participant shall, to the fullest extent permitted by law, be deemed to have the right of setoff in respect of its participating interest in amounts owing under this
Agreement and any other Credit Documents to the same extent as if the amount of its participating interest were owing directly to it as a Lender under this Agreement or any other Credit Documents; provided, however, that (i) no
Participant shall have any rights under this sentence which are greater than those of the selling Lender and (ii) such rights of setoff shall be subject to the obligation of such Participant to share with the Lenders, and the Lenders agree to
share with such Participant, as provided in Subparagraph 2.10(b). Borrower also agrees that any Lender which has transferred all or part of its interests in the Commitments and the Loans to one or more Participants shall, notwithstanding any
such transfer, be entitled to the full benefits accorded such Lender under Paragraph 2.11, Paragraph 2.12, and Paragraph 2.13, as if such Lender had not made such transfer. 

(c) Assignments. Any Lender may, in the ordinary course of its commercial banking business and in accordance with applicable law, at
any time, sell and assign to any Lender, any affiliate of a Lender or any Person (individually, an “Assignee Lender”) all or a portion of its rights and obligations under this Agreement and the other Credit Documents (such a sale
and assignment to be referred to herein as an “Assignment”) pursuant to an assignment agreement in the form of Exhibit J (an “Assignment Agreement”), executed by each Assignee Lender and such assignor Lender
(an “Assignor Lender”) and delivered to Agent for its acceptance and recording in the Register; provided, however, that 

(i) Without the written consent of Agent (which consent shall not be unreasonably withheld), no Lender may make any Assignment of its
Revolving Loan Commitment or Revolving Loans to any Assignee Lender which is not, immediately prior to such Assignment, a Revolving Lender hereunder or an affiliate thereof; 

(ii) Without the written consent of Agent (which consent shall not be unreasonably withheld), no Lender may make any Assignment of its Term
Loan Commitment or Term Loan to any Assignee Lender which is not, immediately prior to such Assignment, a Lender hereunder or an affiliate thereof; 

  
 - 67 - 

 (iii) No Lender may make any Assignment of its Revolving Loan Commitment or Revolving Loans
which does not assign and delegate an equal pro rata interest in each along with all related rights, duties and obligations of such Lender under this Agreement and the other Credit Documents; 

(iv) No Lender may make any Assignment of its Term Loan Commitment or Term Loan which does not assign and delegate an equal pro rata interest
in each along with all related rights, duties and obligations of such Lender under this Agreement and the other Credit Documents; and 

(v) Unless an Event of Default has occurred and is continuing, no Lender may make any Assignment of its Term Loan Commitment, Term Loan,
Revolving Loan Commitment, or Revolving Loans to any Person that (a) is a competitor of, or is engaged in the same or a similar business as, the Borrower or any of its Subsidiaries, or (b) is a majority owner or affiliate of a competitor
of, or company in the same or similar business as the Borrower or any of its subsidiaries. 
 Upon such execution, delivery, acceptance and recording of
each Assignment Agreement, from and after the Assignment Effective Date determined pursuant to such Assignment Agreement, (A) each Assignee Lender thereunder shall be a Lender, hereunder with a Revolving Loan Proportionate Share and/or Term
Loan Proportionate Share (as the case may be) as set forth on Attachment 1 to such Assignment Agreement and shall have the rights, duties and obligations of such a Lender or Lenders under this Agreement and the other Credit Documents, and
(B) the Assignor Lender thereunder shall be a Lender hereunder with a Revolving Loan Proportionate Share and/or Term Loan Proportionate Share (as the case may be) as set forth on Attachment 1 to such Assignment Agreement, or, if after
such assignment the Assignor Lender has no Revolving Loan Proportionate Share or Term Loan Proportionate Share, as the case may be, the Assignor Lender shall cease to be a Lender as to such Loan (and shall cease to have any obligations to make any
such Loans); provided, however, that any such Assignor Lender which ceases to be a Lender shall continue to be entitled to the benefits of any provision of this Agreement which by its terms survives the termination of this Agreement.
Each Assignment Agreement shall be deemed to amend Schedule I to the extent, and only to the extent, necessary to reflect the addition of each Assignee Lender, the deletion of each Assignor Lender which ceases to be a Lender and the resulting
adjustment of Revolving Loan Proportionate Shares and/or Term Loan Proportionate Shares arising from the purchase by each Assignee Lender of all or a portion of the rights and obligations of an Assignor Lender under this Agreement and the other
Credit Documents. On or prior to the Assignment Effective Date determined pursuant to each Assignment Agreement, Borrower, at its own expense, shall execute and deliver to Agent, in exchange for the surrendered Note or Notes (as the case may be) of
the Assignor Lender thereunder, a new Note or Notes (as the case may be) to the order of each Assignee Lender thereunder (with any new Revolving Loan Note to be in an amount equal to the Revolving Loan Commitment assumed by such Assignee Lender, and
any new Term Loan Note to be in the original principal amount of the Term Loan then held by such Assignee Lender and, if the Assignor Lender is continuing as a Lender hereunder, a new Note or Notes (as the case may be) to the order of the Assignor
Lender (with any new Revolving Loan Note to be in an amount equal to the Revolving Loan Commitment retained by it, and any new Term Loan Note to be in the original principal amount of the Term Loan retained by it. Each such new Note shall be dated
the Closing Date and otherwise be in the form of the Note replaced thereby (provided that Borrower shall not be obligated to pay any principal paid or interest accrued prior to the Assignment Effective Date to such Assignee Lender but such accrued
interest shall continue to be payable to Assignor Lender). The Notes surrendered by the Assignor Lender shall be returned by Agent to Borrower marked “replaced” or “cancelled”, as appropriate. Each Assignee Lender which was not
previously a Lender hereunder and which is not organized under the laws of the United States of America or a state thereof shall, within three (3) Business Days of becoming a Lender, deliver to Borrower and Agent those certificates or documents
as contemplated in Subparagraph 2.12(b), as necessary or helpful to certify that such Lender is entitled to receive payments under this Agreement without deduction or withholding of any United States federal taxes (including, without
limitation, executed copies of Internal Revenue Service Forms W-8BEN, W-8IMY, or successor forms). 

  
 - 68 - 

 (d) Register. Agent shall maintain at its address referred to in Paragraph 8.01 a
copy of each Assignment Agreement delivered to it and a register (the “Register”) for the recordation of the names and addresses of the Lenders and the Revolving Loan Proportionate Shares and Term Loan Proportionate Shares of each
Lender from time to time. The entries in the Register shall be conclusive in the absence of manifest error, and Borrower, Agent and the Lenders may treat each Person whose name is recorded in the Register as the owner of the Loans recorded therein
for all purposes of this Agreement. The Register shall be available for inspection by Borrower or any Lender at any reasonable time and from time to time upon reasonable prior notice. 

(e) Registration. Upon its receipt of an Assignment Agreement executed by an Assignor Lender and an Assignee Lender (and by Agent to
the extent consent is required by Subparagraph 8.06(c)), together with payment to Agent by Assignor Lender of a registration and processing fee of $3,500, Agent shall (i) promptly accept such Assignment Agreement and (ii) on the
Assignment Effective Date determined pursuant thereto record the information contained therein in the Register and give notice of such acceptance and recordation to the Lenders and Borrower. Agent may, from time to time at its election, prepare and
deliver to the Lenders and Borrower a revised Schedule I reflecting the names, addresses and respective Revolving Loan Proportionate Shares and Term Loan Proportionate Shares of all Lenders then parties hereto. 

(f) FATCA. If a payment made to a Lender under this Agreement or other Credit Document would be subject to U.S. federal withholding tax
imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to Borrower and Agent at
the time or times prescribed by law and at such time or times reasonably requested by Borrower or 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 Borrower or Agent as may be necessary for Borrower or Agent to comply with their obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to
determine the amount to deduct and withhold from such payment. 

  
 - 69 - 

 8.06 Setoff; Security Interest. 

(a) Setoff. In addition to any rights and remedies of the Lenders provided by law, each Lender shall have the right, with the prior
consent of Agent but without prior notice to Borrower, any such notice being expressly waived by Borrower to the extent permitted by applicable law, upon the occurrence and during the continuance of an Event of Default, to set off and apply against
any indebtedness, whether matured or unmatured, of Borrower to such Lender, any amount owing from such Lender to Borrower, at or at any time after, the occurrence of any of the above mentioned events, and as security for such indebtedness, Borrower
hereby grants to each Lender a continuing security interest in any and all deposits, accounts or moneys of Borrower then or thereafter maintained with such Lender, subject in each case to Subparagraph 2.10(b). To the extent permitted by
applicable Governmental Rule, the aforesaid right of set off may be exercised by such Lender against Borrower or against any trustee in bankruptcy, debtor in possession, assignee for the benefit of creditors, receiver or execution, judgment or
attachment creditor of Borrower or against anyone else claiming through or against Borrower or such trustee in bankruptcy, debtor in possession, assignee for the benefit of creditors, receiver, or execution, judgment or attachment creditor,
notwithstanding the fact that such right of set off shall not have been exercised by such Lender prior to the occurrence of an Event of Default. Each Lender agrees promptly to notify Borrower 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 set off and application. 
 (b)
Security Interest. As security for the Obligations, Borrower hereby grants to each Lender, for the benefit of Agent and all Lenders, a continuing security interest in any and all deposit accounts or moneys of Borrower now or hereafter
maintained with such Lender. Each Lender shall have all of the rights of a secured party with respect to such security interest. 
 8.07
No Third Party Rights. Nothing expressed in or to be implied from this Agreement is intended to give, or shall be construed to give, any Person, other than the parties hereto and their permitted successors and assigns hereunder, any benefit
or legal or equitable right, remedy or claim under or by virtue of this Agreement or under or by virtue of any provision herein. 
 8.08
Partial Invalidity. If at any time any provision of this Agreement is or becomes illegal, invalid or unenforceable in any respect under the law or any jurisdiction, neither the legality, validity or enforceability of the remaining provisions
of this Agreement nor the legality, validity or enforceability of such provision under the law of any other jurisdiction shall in any way be affected or impaired thereby. 

8.09 Jury Trial. EACH OF BORROWER, THE LENDERS AND AGENT, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY IRREVOCABLY WAIVES
ALL RIGHT TO TRIAL BY JURY AS TO ANY ISSUE RELATING HERETO IN ANY ACTION, PROCEEDING, OR COUNTERCLAIM ARISING OUT OF OR RELATING TO ANY CREDIT DOCUMENT. 

  
 - 70 - 

 8.10 Counterparts. This Agreement may be executed in any number of identical counterparts,
any set of which signed by all the parties hereto shall be deemed to constitute a complete, executed original for all purposes. 
 8.11
Confidentiality. Each Lender and Agent shall use its best efforts not to disclose to any Person any information with respect to Borrower or any of Borrower’s Subsidiaries which is furnished pursuant to this Agreement, except that any
Lender or Agent may disclose any such information (a) to its own directors, officers, employees, auditors, counsel and other professional advisors and to its Affiliates if such Lender or Agent or such Lender’s or such Agent’s holding
or parent company in its sole discretion determines that any such party should have access to such information; (b) to another Lender; (c) if generally available to the public; (d) if required or appropriate in any report, statement
or testimony submitted to any Governmental Authority having or claiming to have jurisdiction over such Lender or Agent; (e) if required or appropriate in response to any summons or subpoena or in connection with any litigation, to the extent
permitted or deemed advisable by counsel; (f) to comply with any Requirement of Law applicable to such Lender or Agent; (g) to any Participant or Assignee Lender or any prospective Participant or Assignee Lender, provided that such Person
agrees in writing, in form and content satisfactory to Agent, to be bound by the terms of this Paragraph 8.11; or (h) otherwise with the prior consent of Borrower. 

8.12 ERISA. If any Lender is, or is acting on behalf of, an ERISA Entity (as defined below), such Lender represents, warrants and
covenants that the acquisition and holding of the Notes, throughout the term of the holding by such Lender, will not result in a nonexempt prohibited transaction under Section 406(a) of ERISA or Section 4975 of the Code with respect to
Borrower. For the purpose of this paragraph, the term “ERISA Entity” shall mean (a) an “employee benefit plan” within the meaning of Section 3(3) of ERISA which is subject to Title I of ERISA, (b) a
“plan” within the meaning of Section 4975(e) of the Code, and (c) any person whose assets are deemed to be “plan assets” within the meaning of 29 C.F.R. § 2510.3 101. 

8.13 Securities Laws. Each Lender represents and warrants that such Lender is not an entity formed to hold Loans or Notes and that it
is the present intention of such Lender to acquire each Note drawn to its order for its own account and not with a view to the distribution or sale thereof, subject, nevertheless, to the necessity that such Lender remain in control at all times of
the disposition of property held by it for its own account; it being understood that the foregoing representation and warranty shall not affect the character of the Loans as commercial lending transactions. Each Lender covenants that neither such
Lender nor anyone acting on behalf of such Lender will offer any Loan or Note or solicit any offer to acquire any Loan or Note from anyone in violation of the Securities Act of 1933, as amended, or any state securities laws. 

[The next page is the first signature page] 

  
 - 71 - 

 IN WITNESS WHEREOF, Borrower, the Lenders and Agent have caused this Agreement to be executed as
of the day and year first above written. 
  

							
	BORROWER:	 		 	HIE RETAIL, LLC
				
		 		 	By:	 	 /s/ Geoff Beal

		 		 	Name:	 	Geoff Beal
		 		 	Title:	 	VP & Treasurer
			
	AGENT:	 		 	BANK OF HAWAII,
		 		 	As Administrative and Collateral Agent
				
		 		 	By:	 	 /s/ Darrell McCorquodale

		 		 	Name:	 	Darrell McCorquodale
		 		 	Title:	 	Vice President
			
	LENDERS:	 		 	AMERICAN SAVINGS BANK, F.S.B.
		 		 	As a Lender
				
		 		 	By:	 	 /s/ Edward Chin

		 		 	Name:	 	Edward Chin
		 		 	Title:	 	VP
			
		 		 	CENTRAL PACIFIC BANK
		 		 	As a Lender
				
		 		 	By:	 	 /s/ Michael Militar

		 		 	Name:	 	Michael Militar
		 		 	Title:	 	Vice President
			
		 		 	BANK OF HAWAII,
		 		 	As a Lender
				
		 		 	By:	 	 /s/ Darrell McCorquodale

		 		 	Name:	 	Darrell McCorquodale
		 		 	Title:	 	Vice President

  
 - 72 - 

 EXHIBIT A 

NOTICE OF REVOLVING LOAN BORROWING 
 Bank
of Hawaii 
 130 Merchant Street, 20th Floor 
 Honolulu, Hawaii
96813 
 Attention: Mr. Darrell McCorquodale 
 This Notice
of Revolving Loan Borrowing, executed and delivered this      day of             , 20    , by HIE Retail, LLC, a Hawaii limited liability company
(“Borrower”), pursuant to Paragraph 2.01(b) of that certain Credit Agreement (the “Credit Agreement”) dated             , 2013, between Borrower and BANK OF HAWAII,
as Agent, and the Lenders. All terms not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement. 
  

									
	 1. Principal Amount of Requested Revolving Loan Borrowing
$            
	  				  			
			
	 a. Base Rate Loan requested
	  				  	$	            	  
			
	 b. LIBOR Loan requested:
	  				  			
			
	 (i) Amount
	  	$	            	  	  			
			
	 (ii) Length of Initial Interest Period
	  				  			

 2. Requested Date of Revolving Loan Borrowing
                     
 In connection with the foregoing
Revolving Loan Borrowing and pursuant to the terms and provisions of the Credit Agreement, the undersigned hereby certifies that: 
 (i) The
undersigned is the duly elected, qualified and acting                      of Borrower and, as such officer, is authorized to make and deliver this
certificate. 
 (ii) The representations and warranties contained in Paragraph 4.01 of the Credit Agreement and in each of the Credit
Documents are true and correct in all material respects on and as of the date hereof with the same force and effect as though made on and as of the date hereof. 

(iii) To the actual knowledge of Borrower, no event has occurred and is continuing, or would result from the Revolving Loan Borrowing
requested hereby, which constitutes a Default or an Event of Default under the Credit Agreement. 
 (iv) The information contained herein is
true and correct. 

 EXECUTED and delivered this      day of
            , 20    . 
  

			
	HIE RETAIL, LLC
		
	By:	 	  

		 	Name:
		 	Title:

  
 - 2 - 

 EXHIBIT B 

NOTICE OF REVOLVING LOAN CONVERSION 
 Bank
of Hawaii 
 130 Merchant Street, 20th Floor 
 Honolulu, Hawaii
96813 
 Attention: Mr. Darrell McCorquodale 
 This Notice
of Revolving Loan Conversion, executed and delivered this      day of             , 20    , by HIE RETAIL, LLC, a Hawaii limited liability company
(“Borrower”), pursuant to Paragraph 2.01(d) of that certain Credit Agreement (the “Credit Agreement”) dated             , 2013, between Borrower and BANK OF HAWAII,
as Agent, and the Lenders. All terms not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement. 
  

							
	 1. Principal Amount of Revolving Loan Borrowing to be converted
	 		  	$	            	  
			
	 Check Applicable Box
	 		  			
			
	  ̈ a. Base Rate Loans requested
	 		  	$	            	  
			
	  ̈ b. LIBOR Loan requested:
	 		  			
			
	 (i) Amount
	 	$            	  			
			
	 (ii) Length of Interest Period
	 		  			
			
	 2. Requested Date of Conversion
	 		  			

 In connection with the foregoing Revolving Loan Conversion and pursuant to the terms and provisions of the Credit Agreement,
the undersigned hereby certifies that: 
 (i) The undersigned is the duly elected, qualified and acting
                     of Borrower and, as such officer, is authorized to make and deliver this certificate. 

(ii) The representations and warranties contained in Paragraph 4.01 of the Credit Agreement and in each of the Credit Documents are true and
correct in all material respects on and as of the date hereof with the same force and effect as though made on and as of the date hereof. 

(iii) To the actual knowledge of Borrower, no event has occurred and is continuing, or would result from the Loan Borrowing requested hereby,
which constitutes a Default or an Event of Default under the Credit Agreement. 
 (iv) The information contained herein is true and correct.

 EXECUTED and delivered this      day of
            , 20    . 
  

			
	HIE RETAIL, LLC
		
	By:	 	  

		 	Name:
		 	Title:

  
 - 2 - 

 EXHIBIT C 

NOTICE OF REVOLVING LOAN INTEREST PERIOD SELECTION 

Bank of Hawaii 
 130 Merchant Street, 20th Floor 

Honolulu, Hawaii 96813 
 Attention: Mr. Darrell McCorquodale

 This Notice of Revolving Loan Interest Period Selection, executed and delivered this      day of
            , 20    , by HIE RETAIL, LLC, a Hawaii limited liability company (“Borrower”), pursuant to Paragraph 2.01(e) of that certain Credit Agreement
(the “Credit Agreement”) dated             , 2013, between Borrower and BANK OF HAWAII, as Agent, and the Lenders. All terms not otherwise defined herein shall have the meanings
assigned to such terms in the Credit Agreement. 
  

					
	 1. Principal Amount of Revolving Loan Borrowing
	  	$	            	  
		
	 2. Date that Current Interest Period Expires
	  			
		
	 3. Length of New Interest Period
	  			

 In connection with the foregoing Interest Period Selection and pursuant to the terms and provisions of the Credit Agreement,
the undersigned hereby certifies that: 
 (i) The undersigned is the duly elected, qualified and acting
                     of Borrower and, as such officer, is authorized to make and deliver this certificate. 

(ii) The representations and warranties contained in Paragraph 4.01 of the Credit Agreement and in each of the Credit Documents are true and
correct in all material respects on and as of the date hereof with the same force and effect as though made on and as of the date hereof. 

(iii) To the actual knowledge of Borrower, no event has occurred and is continuing, or would result from the selection of Interest Period
requested hereby, which constitutes a Default or an Event of Default under the Credit Agreement. 
 (iv) The information contained herein is
true and correct. 
 EXECUTED and delivered this      day of             ,
20    . 
  

			
	HIE RETAIL, LLC
		
	By:	 	  

		 	Name:
		 	Title:

 EXHIBIT D 

NOTICE OF TERM LOAN BORROWING 
 Bank of
Hawaii 
 130 Merchant Street, 20th Floor 
 Honolulu, Hawaii
96813 
 Attention: Mr. Darrell McCorquodale 
 This Notice
of Term Loan Borrowing, executed and delivered this      day of             , 20    , by HIE RETAIL, LLC, a Hawaii limited liability company
(“Borrower”), pursuant to Paragraph 2.03(b) of that certain Credit Agreement (the “Credit Agreement”) dated             , 2013, between Borrower and BANK OF HAWAII,
as Agent, and the Lenders. All terms not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement. 
  

													
	 1. Principal Amount of Requested Term Loan Borrowing
	  				  				  	$	            	  
				
	 a. Base Rate Loan requested
	  				  	$	            	  	  			
				
	 b. LIBOR Loan requested:
	  				  				  			
				
	 (i) Amount
	  	$	            	  	  				  			
				
	 (ii) Length of Initial Interest Period
	  				  				  			
				
	 2. Requested Date of Term Loan Borrowing
	  				  				  			

 In connection with the foregoing Term Loan Borrowing and pursuant to the terms and provisions of the Credit Agreement, the
undersigned hereby certifies that: 
 (i) The undersigned is the duly elected, qualified and acting
                     of Borrower and, as such officer, is authorized to make and deliver this certificate. 

(ii) The representations and warranties contained in Paragraph 4.01 of the Credit Agreement and in each of the Credit Documents are true and
correct in all material respects on and as of the date hereof with the same force and effect as though made on and as of the date hereof. 

(iii) To the actual knowledge of Borrower, no event has occurred and is continuing, or would result from the Loan Borrowing requested hereby,
which constitutes a Default or an Event of Default under the Credit Agreement. 
 (iv) The information contained herein is true and correct.

 EXECUTED and delivered this      day of
            , 20    . 
  

			
	HIE RETAIL, LLC
		
	By:	 	  

		 	Name:
		 	Title:

  
 - 2 - 

 EXHIBIT E 

NOTICE OF TERM LOAN CONVERSION 
 Bank of
Hawaii 
 130 Merchant Street, 20th Floor 
 Honolulu, Hawaii
96813 
 Attention: Mr. Darrell McCorquodale 
 This Notice
of Term Loan Conversion, executed and delivered this      day of             , 20    , by HIE RETAIL, LLC, a Hawaii limited liability company
(“Borrower”), pursuant to Paragraph 2.03(d) of that certain Credit Agreement (the “Credit Agreement”) dated             , 2013, between Borrower and BANK OF HAWAII,
as Agent, and the Lenders. All terms not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement. 
  

							
	 1. Principal Amount of Term Loan Borrowing to be converted
	 		  	$	            	  
			
	 Check Applicable Box
	 		  			
			
	  ̈ a. Base Rate Loans requested
	 		  	$	            	  
			
	  ̈ b. LIBOR Loan requested:
	 		  			
			
	 (i) Amount
	 	$            	  			
			
	 (ii) Length of Interest Period
	 		  			
			
	 2. Requested Date of Conversion
	 		  			

 In connection with the foregoing Term Loan Conversion and pursuant to the terms and provisions of the Credit Agreement, the
undersigned hereby certifies that: 
 (i) The undersigned is the duly elected, qualified and acting
                     of Borrower and, as such officer, is authorized to make and deliver this certificate. 

(ii) The representations and warranties contained in Paragraph 4.01 of the Credit Agreement and in each of the Credit Documents are true and
correct in all material respects on and as of the date hereof with the same force and effect as though made on and as of the date hereof. 

(iii) To the actual knowledge of Borrower, no event has occurred and is continuing, or would result from the Term Loan Conversion requested
hereby, which constitutes a Default or an Event of Default under the Credit Agreement. 
 (iv) The information contained herein is true and
correct. 

 EXECUTED and delivered this      day of
            , 20    . 
  

			
	HIE RETAIL, LLC
		
	By:	 	  

		 	Name:
		 	Title:

  
 - 2 - 

 EXHIBIT F 

NOTICE OF TERM LOAN INTEREST PERIOD SELECTION 

Bank of Hawaii 
 130 Merchant Street, 20th Floor 

Honolulu, Hawaii 96813 
 Attention: Mr. Darrell McCorquodale

 This Notice of Term Loan Interest Period Selection, executed and delivered this      day of
            , 20    , by HIE RETAIL, LLC, a Hawaii limited liability company (“Borrower”), pursuant to Paragraph 2.03(e) of that certain Credit Agreement
(the “Credit Agreement”) dated             , 2013, between Borrower and BANK OF HAWAII, as Agent, and the Lenders. All terms not otherwise defined herein shall have the meanings
assigned to such terms in the Credit Agreement. 
  

							
	 1. Principal Amount of Term Loan Borrowing
	  	$	            	  
		
	 2. Date that Current Interest Period Expires
	  			
		
	 3. Length of New Interest Period
	  			

 In connection with the foregoing Interest Period Selection and pursuant to the terms and provisions of the Credit Agreement,
the undersigned hereby certifies that: 
 (i) The undersigned is the duly elected, qualified and acting
                     of Borrower and, as such officer, is authorized to make and deliver this certificate. 

(ii) The representations and warranties contained in Paragraph 4.01 of the Credit Agreement and in each of the Credit Documents are true and
correct in all material respects on and as of the date hereof with the same force and effect as though made on and as of the date hereof. 

(iii) To the actual knowledge of Borrower, no event has occurred and is continuing, or would result from the selection of Interest Period
requested hereby, which constitutes a Default or an Event of Default under the Credit Agreement. 
 (iv) The information contained herein is
true and correct. 
 EXECUTED and delivered this      day of             ,
20    . 
  

			
	HIE RETAIL, LLC
		
	By:	 	  

		 	Name:
		 	Title:

 EXHIBIT G 

REVOLVING LOAN NOTE 
 THIS NOTE
HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY APPLICABLE STATE SECURITIES LAWS. THIS NOTE IS NOT TRANSFERABLE WITHOUT COMPLIANCE WITH THE REGISTRATION REQUIREMENTS OF SUCH LAWS UNLESS AN EXEMPTION OR EXCLUSION FROM
REGISTRATION IS AVAILABLE. 
  

					
	$            	  		  	Honolulu, Hawaii
		  		  	            , 2013

 FOR VALUE RECEIVED, HIE RETAIL, LLC, a Hawaii limited liability company (“Borrower”), hereby
promises to pay to the order of BANK OF HAWAII, a Hawaii corporation (“Lender”), the principal sum of                      AND
NO/100 DOLLARS ($        ) or such lesser amount as shall equal the aggregate outstanding principal balance of the Revolving Loans made by Lender to Borrower pursuant to the Credit Agreement referred to
below (as amended from time to time, the “Credit Agreement”), on or before the Revolving Loan Maturity Date specified in the Credit Agreement; and to pay interest on said sum, or such lesser amount, at the rates and on the dates
provided in the Credit Agreement. 
 Borrower shall make all payments hereunder, for the account of Lender’s Applicable Lending Office,
to Agent as indicated in the Credit Agreement, in lawful money of the United States and in same day or immediately available funds. 

Borrower hereby authorizes Lender to record on the schedule(s) annexed to this note the date and amount of each Revolving Loan and of each
payment or prepayment of principal made by Borrower and agrees that all such notations shall constitute prima facie evidence of the matters noted. 

This Note is one of the Revolving Loan Notes referred to in the Credit Agreement, dated as of
            , 2013, among Borrower, Lender and the other financial institutions from time to time parties thereto (collectively, the “Lenders”), and Bank of Hawaii, as
agent for the Lenders. This Note is subject to the terms of the Credit Agreement, including the rights of prepayment and the rights of acceleration of maturity set forth therein. Terms used herein have the meanings assigned to those terms in the
Credit Agreement, unless otherwise defined herein. 
 The transfer, sale or assignment of any rights under or interest in this note is
subject to certain restrictions contained in the Credit Agreement, including Paragraph 8.05 thereof. 
 Borrower shall pay all reasonable
fees and expenses, including reasonable attorneys’ fees, incurred by Lender in the enforcement or attempt to enforce any of Borrower’s obligations hereunder not performed when due. Borrower hereby waives notice of presentment, demand,
protest or notice of any other kind. This note shall be governed by and construed in accordance with the laws of the State of Hawaii. 

 
			
	HIE RETAIL, LLC
		
	By:	 	  

		 	Name:
		 	Title:

  
 - 2 - 

 LOANS AND PAYMENTS OF PRINCIPAL 

 

													
	 Date
	  	Type
of Loan	  	Amount
of Loan	  	Amount
of Interest
Period	  	Unpaid
Principal
Paid or
Prepaid	  	Principal
Balance	  	Notation
Made By
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	

  
 - 3 - 

 EXHIBIT H 

TERM LOAN NOTE 
 THIS NOTE HAS
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY APPLICABLE STATE SECURITIES LAWS. THIS NOTE IS NOT TRANSFERABLE WITHOUT COMPLIANCE WITH THE REGISTRATION REQUIREMENTS OF SUCH LAWS UNLESS AN EXEMPTION OR EXCLUSION FROM
REGISTRATION IS AVAILABLE. 
  

					
	$            	  		  	Honolulu, Hawaii
		  		  	            , 2013

 FOR VALUE RECEIVED, HIE RETAIL, LLC, a Hawaii limited liability company (“Borrower”), hereby
promises to pay to the order of BANK OF HAWAII, a Hawaii corporation (“Lender”), the principal sum of                      AND NO/00
DOLLARS ($        ) in installments, payable as provided in the Credit Agreement referred to below (as amended from time to time, the “Credit Agreement”); and to pay interest on the
outstanding balance of said sum at the rates and on the dates provided in the Credit Agreement; provided, however, that all principal and accrued interest remaining unpaid shall be payable in full on the Term Loan Maturity Date. 

Borrower shall make all payments hereunder, for the account of Lender’s Applicable Lending Office, to Agent as indicated in the Credit
Agreement, in lawful money of the United States and in same day or immediately available funds. 
 This Note is one of the Term Loan Notes
referred to in the Credit Agreement, dated as of             , 2013, among Borrower, Lender and the other financial institutions from time to time parties thereto (collectively, the
“Lenders”), and Bank of Hawaii, as agent for the Lenders. This Note is subject to the terms of the Credit Agreement, including the rights of prepayment and the rights of acceleration of maturity set forth therein. Terms used herein
have the meanings assigned to those terms in the Credit Agreement, unless otherwise defined herein. 
 The transfer, sale or assignment of
any rights under or interest in this note is subject to certain restrictions contained in the Credit Agreement, including Paragraph 8.05 thereof. 

Borrower shall pay all reasonable fees and expenses, including reasonable attorneys’ fees, incurred by Lender in the enforcement or
attempt to enforce any of Borrower’s obligations hereunder not performed when due. Borrower hereby waives notice of presentment, demand, protest or notice of any other kind. This note shall be governed by and construed in accordance with the
laws of the State of Hawaii. 

 
			
	HIE RETAIL, LLC
		
	By:	 	  

		 	Name:
		 	Title:

  
 - 2 - 

 EXHIBIT I 

COMPLIANCE CERTIFICATE 
 Bank of Hawaii

 130 Merchant Street, 20th Floor 
 Honolulu, Hawaii 96813 

Attention: Mr. Darrell McCorquodale 
  

			
	SUBJECT:	  	Credit Agreement (the “Credit Agreement”) dated             , 2013, between HIE RETAIL, LLC (“Borrower”) and Bank of Hawaii, as Agent
(“Agent”) and the Lenders

 Borrower is providing this Compliance Certificate in accordance with Paragraph 5.01(a)(iv) of the Credit Agreement. 

This Compliance Certificate covers the period from             , 20    
through             , 20    , inclusive (the “Covered Period”). Borrower hereby represents, warrants and certifies to Agent that, as of the date hereof (or
such other date as may be specified below): 
  

	 	1.	Attached hereto, as Attachment A, is an accurate calculation of the Leverage Ratio of Borrower, and an accurate calculation of the Fixed Charge Coverage Ratio of the Borrower, all as of the last day of the fiscal
quarter preceding the date of this Compliance Certificate. The information furnished in Attachment A hereto is true and correct as of the last day of the fiscal quarter preceding the date of this Compliance Certificate. 

 

	 	2.	Except as disclosed in Attachment B hereto, the representations and warranties set forth in Section IV of the Agreement are true and correct on and as of the date hereof. 

 

	 	3.	As of the date hereof, no event has occurred and is continuing that (a) constitutes an Event of Default under the Agreement, or (b) with the giving of notice or passage of time, or both, would constitute an
Event of Default. Borrower has observed and performed all of Borrower’s covenants and other agreements, and satisfied every condition contained in the Credit Agreement and in the other Credit Documents to be observed, performed and satisfied by
Borrower. 

 EXECUTED and delivered this      day of
            , 20    . 
  

			
	HIE RETAIL, LLC
		
	By:	 	  

		 	Name:
		 	Title:

 Attachment A 

Section 1.01: Calculation of EBITDA 

Calculations of the Borrower’s EBITDA shall be for the prior four fiscal quarters ending on date of calculation. 

 

			
	Net income or (loss) before taxes	  	
		
	plus: depreciation and amortization	  	
		
	plus: Interest Expenses	  	
		
	plus: all transaction fees and expenses incurred within 12 months after Closing (maximum $300,000)	  	
		
	minus: extraordinary gains or plus extraordinary losses (to the extent included in net income above)	  	
		
	Equals: EBITDA	  	

 Section 5.03(a) Leverage Ratio: Funded Debt divided by EBITDA, plus rent and lease payments

  

			
	 A) Funded Debt
	  	
		
	 B) EBITDA plus Rents and lease payments on other facilities and equipment for the period of the four (4) fiscal quarters most
recently ended
	  	
		
	 A divided by B
	  	

 Section 5.03 (b) Minimum Fixed Charge Coverage Ratio 

Fixed Charge Coverage Ratio Calculation (Section 1.01): 
  

			
	 A) EBITDA
	  	
		
	 B) cash payments for Interest Expenses
	  	
		
	 C) plus: scheduled principal payments for Indebtedness for the succeeding twelve calendar months
	  	
		
	 D) all distributions to members of Borrower
	  	

			
	 E) all Cash Capital Expenditures for the current and subsequent quarters
	  	
		
	 F) all cash payments for income taxes
	  	
		
	 G) Sum of B+C+D+E (Fixed Charges)
	  	
		
	 Fixed Charge Coverage Ratio: A divided by G
	  	

 Section 2.06 (c)(iii): Mandatory Prepayments 

Excess Cash Flow Recapture Calculation 
 Excess
Cash Flow (Section 1.01) determined for each fiscal year beginning with Borrower’s fiscal year ending December 31, 2014. 
  

			
	 A) EBITDA
	  	
		
	 B) minus: cash payments for taxes paid by Borrower and its Subsidiaries during each year
	  	
		
	 C) minus: Cash Capital Expenditures
	  	
		
	 D) minus: scheduled principal payments
	  	
		
	 E) minus: cash payments for Interest Expenses
	  	
		
	 F) minus: optional principal prepayments made to the Term Loan Facility
	  	
		
	 G) minus: cash distributions made by Borrower to Holdings in respect of tax liabilities attributable to Borrower
	  	
		
	 H) equals: Excess Cash Flow
	  	
		
	 Excess Cash Flow subject to recapture:
	  	
		
	 Leverage Ratio equal to or greater than 4.50:1.00 = 50%
	  	
		
	 Leverage Ratio is less than 4.50:1.00 = None
	  	
		
	 Excess Cash Flow Recapture Amount:
	  	

  
 - 2 - 

 EXHIBIT J 

ASSIGNMENT AGREEMENT 

THIS ASSIGNMENT AGREEMENT, dated as of the date set forth at the top of Attachment 1 hereto, by and among: 

 

	 	(1)	The financial institution designated under item A of Attachment 1 hereto as the Assignor Lender (“Assignor Lender”) and 

 

	 	(2)	Each financial institution designated under item B of Attachment 1 hereto as an Assignee Lender (individually, an “Assignee Lender”). 

R E C I T A L S: 

A. Assignor Lender is one of the financial institutions which is a party to the Credit Agreement dated as of
            , 2013, by and among HIE RETAIL, LLC, a Hawaii limited liability company (“Borrower”), Assignor Lender and the other financial institutions parties hereto
(collectively, the “Lenders”), and BANK OF HAWAII, as administrative and collateral agent for the Lenders (jointly in such capacities, “Agent”). (Such Credit Agreement, as amended, supplemented or otherwise modified
in accordance with its terms from time to time to be referred to herein as the “Credit Agreement”). 
 B. Assignor Lender
wishes to sell, and Assignee Lender wishes to purchase, a portion of Assignor Lender’s rights under the Credit Agreement pursuant to Subparagraph 8.05(c) of the Credit Agreement. 

AGREEMENT 
 Now,
therefore, the parties hereto hereby agree as follows: 
 1. Definitions. Except as otherwise defined in this Assignment Agreement,
all capitalized terms used herein and defined in the Credit Agreement have the respective meanings given to those terms in the Credit Agreement. 

2. Sale and Assignment. Subject to the terms and conditions of this Assignment Agreement, Assignor Lender hereby agrees to sell, assign
and delegate to each Assignee Lender and each Assignee Lender hereby agrees to purchase, accept and assume an undivided interest in and share of Assignor Lender’s rights, obligations and duties under the Credit Agreement and the other Credit
Documents equal to the Revolving Loan Proportionate Share or Term Loan Proportionate Share set forth under the caption “Revolving Loan Proportionate Share” or “Term Loan Proportionate Share,” as the case may be, opposite such
Assignee Lender’s name on Attachment 1 hereto. 
 3. Assignment Effective Upon Notice. Upon (a) receipt by Agent of
five (5) counterparts of this Assignment Agreement (to each of which is attached a fully completed Attachment 1), each of which has been executed by Assignor Lender and each Assignee Lender (and, if any Assignee Lender is not then a
Lender, by Agent) and (b) payment to Agent of the registration and processing fee specified in Subparagraph 8.05(e) by Assignor Lender, Agent will transmit to Borrower, Assignor Lender and each Assignee Lender an Assignment Effective
Notice substantially in the form of Attachment 2 hereto (an “Assignment Effective Notice”). Such Assignment Effective Notice shall set forth the date on which the assignment affected by this Assignment Agreement shall become
effective (the “Assignment Effective Date”), which date shall be the fifth Business Day following the date of such Assignment Effective Notice. 

 4. Assignment Effective Date. At or before 12:00 noon (local time of Assignor Lender) on
the Assignment Effective Date, each Assignee Lender shall pay to Assignor Lender, in immediately available or same day funds, an amount equal to the purchase price, as agreed between Assignor Lender and such Assignee Lender (the “Purchase
Price”), for the Revolving Loan Proportionate Share or Term Loan Proportionate Share, as the case may be, purchased by such Assignee Lender hereunder. Effective upon receipt by Assignor Lender of the Purchase Price payable by each Assignee
Lender, the sale, assignment and delegation to such Assignee Lender of such Proportionate Share as described in Paragraph 2 hereof shall become effective. 

5. Payments After the Assignment Effective Date. Assignor Lender and each Assignee Lender hereby agree that Agent shall, and hereby
authorize and direct Agent to, allocate amounts payable under the Credit Agreement and the other Credit Documents as provided in the Credit Agreement in accordance with its appropriate Revolving Loan Proportionate Share or Term Loan Proportionate
Share, as the case may be. Assignor Lender and each Assignee Lender have made separate arrangements for (i) the payment by Assignor Lender to such Assignee Lender of any principal, interest, fees or other amounts previously received or
otherwise payable to Assignor Lender hereunder if Assignor Lender and such Assignee Lender have otherwise agreed that such Assignee Lender is entitled to receive any such amounts and (ii) the payment by such Assignee Lender to Assignor Lender
of any principal, interest, fees or other amounts hereafter payable to such Assignee Lender hereunder if Assignor Lender and such Assignee Lender have otherwise agreed that Assignor Lender is entitled to receive any such amounts. 

6. Delivery of Notes. On or prior to the Assignment Effective Date, Assignor Lender will deliver to Agent the applicable Notes payable
to Assignor Lender. On or prior to the Assignment Effective Date, Borrower will deliver to Agent Notes for each Assignee Lender and Assignor Lender, in each case in principal amounts reflecting, in accordance with the Credit Agreement, their
respective Commitments (as adjusted pursuant to this Assignment Agreement). As provided in Subparagraph 8.05(c) of the Credit Agreement, each such new Note shall be dated the Closing Date and otherwise be in the form of Note replaced thereby
(provided that Borrower shall not be obligated to pay any principal paid or interest accrued prior to the effective date of this assignment to the Assignee Lender). Promptly after the Assignment Effective Date, Agent will send to each of Assignor
Lender and Assignee Lenders its new Notes and will send to Borrower the superseded Notes of Assignor Lender, marked “replaced.” 

7. Delivery of Copies of Credit Documents. Concurrently with the execution and delivery hereof, Assignor Lender will provide to each
Assignee Lender (if it is not already a Lender party to the Credit Agreement) conformed copies of all documents delivered to Assignor Lender on or prior to the Closing Date in satisfaction of the conditions precedent set forth in the Credit
Agreement. 

  
 - 2 - 

 8. Further Assurances. Each of the parties to this Assignment Agreement agrees that at any
time and from time to time upon the written request of any other party, it will execute and deliver such further documents and do such further acts and things as such other party may reasonably request in order to effect the purposes of this
Assignment Agreement. 
 9. Further Representations, Warranties and Covenants. Assignor Lender and each Assignee Lender further
represent and warrant to and covenant with each other, Agent and the Lender Parties as follows: 
  

	 	(a)	Other than the representation and warranty that it is the legal and beneficial owner of the interest being assigned hereby agree and clear of any adverse claim, Assignor Lender makes no representation or warranty and
assumes no responsibility with respect to any statements, warranties or representations made in or in connection with the Credit Agreement or the other Credit Documents or the execution, legality, validity, enforceability, genuineness, sufficiency
or value of the Credit Agreement or the other Credit Documents furnished. 

  

	 	(b)	Assignor Lender makes no representation or warranty and assumes no responsibility with respect to the financial condition of Borrower or any of its obligations under the Credit Agreement or any other Credit Documents.

  

	 	(c)	Each Assignee Lender confirms that it has received a copy of the Credit Agreement and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this
Assignment Agreement. 

  

	 	(d)	Each Assignee Lender will, independently and without reliance upon any Agent, Assignor Lender or any other Lender and based upon such documents and information as it shall deem appropriate at the time, continue to make
its own credit decisions in taking or not taking action under the Credit Agreement and the other Credit Documents. 

  

	 	(e)	Each Assignee Lender appoints and authorizes Agent to take such action as Agent on its behalf and to exercise such powers under the Credit Agreement and the other Credit Documents as are delegated to Agent by the terms
thereof, together with such powers as are reasonably incidental thereto, all in accordance with Section VII of the Credit Agreement. 

  

	 	(f)	Each Assignee Lender agrees that it will perform in accordance with their terms all of the obligations which by the terms of the Credit Agreement and the other Credit Documents are required to be performed by it as a
Lender. 

  
 - 3 - 

	 	(g)	Attachment 1 hereto sets forth the revised Revolving Loan Proportionate Shares or Term Loan Proportionate Shares, as the case may be, of Assignor Lender and each Assignee Lender as well as administrative
information with respect to each Assignee Lender. 

 10. Effect of this Assignment Agreement. On and after the
Assignment Effective Date, (a) each Assignee Lender shall be a Lender with a Revolving Loan Proportionate Share or Term Loan Proportionate Share, as the case may be, as set forth on Attachment 1 hereto and shall have the rights, duties
and obligations of such a Lender under the Credit Agreement and the other Credit Documents and (b) Assignor Lender shall be a Lender with a Revolving Loan Proportionate Share or Term Loan Proportionate Share, as the case may be, as set forth on
Attachment 1 hereto, or, if the Revolving Loan Proportionate Share and Term Loan Proportionate Share of Assignor Lender has been reduced to 0%, Assignor Lender shall cease to be a Lender. 

11. Miscellaneous. This Assignment Agreement shall be governed by, and construed in accordance with, the laws of the State of Hawaii.
Paragraph headings in this Assignment Agreement are for convenience of reference only and are not part of the substance hereof. 
 IN
WITNESS WHEREOF, the parties hereto have caused this Assignment Agreement to be executed by their respective duly authorized officers as of the date set forth in Attachment 1 hereto. 

 

											
	                    ,	 		 	                    ,
	As an Assignor Lender	 		 	As an Assignee Lender
					
	By:	 	  
	 		 	By:	 	  

		 	Name:	 		 		 		 	Name:
		 	Title:	 		 		 		 	Title:

 CONSENTED TO AND ACKNOWLEDGED BY: 
  

			
	BANK OF HAWAII,
	As Agent
		
	By:	 	  

		 	Name:
		 	Title:

  
 - 4 - 

 ATTACHMENT 1 

TO ASSIGNMENT AGREEMENT 

NAMES, ADDRESSES AND PROPORTIONATE SHARES 

OF ASSIGNOR LENDER AND ASSIGNEE LENDERS AFTER ASSIGNMENT 

            , 20     

 

									
	 A. ASSIGNOR LENDER
	 	 	  	REVOLVING LOAN
PROPORTIONATE
SHARE*	  	TERM LOAN
PROPORTIONATE
SHARE*
				
	  
	 		  		  	
				
	Applicable Lending Office:	 		  		  	
	  

 
	 		  		  	
	  

 
	 		  		  	
	Attention:	 	  
	 		  		  	
				
	Address for notices:	 		  		  	
	  
	 		  		  	
	  
	 		  		  	
	  
	 		  		  	
	  
	 		  		  	
	Attention:	 	  
	 		  		  	
	Telephone No.	 	  
	 		  		  	
	Facsimile No.	 	  
	 		  		  	
				
	Wiring Instructions:	 		  		  	
	  
	 		  		  	
	ABA No.	 	  
	 		  		  	
	Contact:	 	  
	 		  		  	

  

	*	To be expressed by a percentage rounded to the sixth digit to the right of the decimal point. 

									
	 B. ASSIGNEE LENDER
	 	 	  	REVOLVING LOAN
PROPORTIONATE
SHARE*	  	TERM LOAN
PROPORTIONATE
SHARE*
				
	  
	 		  		  	
				
	Applicable Lending Office:	 		  		  	
	  
	 		  		  	
	  
	 		  		  	
	  
	 		  		  	
	  
	 		  		  	
	Attention:	 	  
	 		  		  	
				
	Address for notices:	 		  		  	
	  
	 		  		  	
	  
	 		  		  	
	  
	 		  		  	
	  
	 		  		  	
	Attention:	 	  
	 		  		  	
	Telephone No.	 	  
	 		  		  	
	Facsimile No.	 	  
	 		  		  	
				
	Wiring Instructions:	 		  		  	
	  
	 		  		  	
	ABA No.	 	  
	 		  		  	
	Attention:	 	  
	 		  		  	
	Reference:	 		 		  		  	

  
 - 2 - 

 ATTACHMENT 2 

TO ASSIGNMENT AGREEMENT 

FORM OF 
 ASSIGNMENT
EFFECTIVE NOTICE 
 The undersigned, as agent for the Lenders under the Credit Agreement, dated as of
            , 2013 among HIE RETAIL, LLC, a Hawaii limited liability company (“Borrower”), the financial institutions parties thereto (the “Lenders”) and
Bank of Hawaii, as administrative and collateral agent for the Lenders (jointly in such capacities, “Agent”), acknowledges receipt of five executed counterparts of a completed Assignment Agreement, a copy of which is attached
hereto. [Note: Attach copy of Assignment Agreement.] Terms defined in such Assignment Agreement are used herein therein defined. 
 1.
Pursuant to such Assignment Agreement, you are advised that the Assignment Effective Date will be             [Insert fifth business day following date of Assignment Effective Notice]. 

2. Pursuant to such Assignment Agreement, Assignor Lender is required to deliver to Agent on or before the Assignment Effective Date the Notes
payable to Assignor Lender. 
 3. Pursuant to such Assignment Agreement, Borrower is required to deliver to Agent on or before the
Assignment Effective Date the following Notes, each dated              [Insert appropriate date]: 

4. Pursuant to such Assignment Agreement, each Assignee Lender is required to pay its Purchase Price to Assignor Lender at or before 12:00
Noon [local time of Assignor Lender) on the Assignment Effective Date in immediately available funds. 
  

			
	Very truly yours,
	
	 BANK OF HAWAII,
 as
Agent

		
	By:	 	  

		 	Name:
		 	Title:

 SCHEDULE I 

LENDERS 
  

									
	 LENDER
	  	REVOLVING LOAN
PROPORTIONATE SHARE*	 	 	TERM LOAN
PROPORTIONATE SHARE*	 
			
	 AMERICAN SAVINGS BANK
  

Applicable Lending Office:
 American Savings Bank, F.S.B.,
Honolulu
  
 American Savings Bank

Attn: Edward Chin
  

Address for Notices:
 American Savings Bank, F.S.B.

1001 Bishop Street, 25th Floor
 Honolulu, Hawaii 96813

 
 Wiring Instructions:

American Savings Bank, Honolulu
 ABA #321370765

Attn: Commercial and Consumer Loans
 Account Nos. 0020000-01194
and 0020000-01195
 Reference: HIE Retail, LLC
	  	 	    .    	% 	 	 	    .    	% 
			
	 CENTRAL PACIFIC BANK
  

Applicable Lending Office:
 Central Pacific Bank,
Honolulu
  
 Central Pacific Bank

Attn: Michael Militar
  

Address for Notices:
 Central Pacific Bank

Corporate Banking
 220 South King Street, Suite 575

Honolulu, HI 96813
  

Wiring Instructions:
 Central Pacific Bank

ABA #121301578
 Reference:
	  	 	    .    	% 	 	 	    .    	% 

									
	 LENDER
	  	REVOLVING LOAN
PROPORTIONATE SHARE*	 	 	TERM LOAN
PROPORTIONATE SHARE*	 
			
	 BANK OF HAWAII
  

Applicable Lending Office:
 Bank of Hawaii, Corporate
Banking Department
  
 Bank of Hawaii

Attn: Darrell McCorquodale
  

Address for Notices:
 Bank of Hawaii

Corporate Banking Department
 130 Merchant Street, 20th Floor

Honolulu, Hawaii 96813
  

Wiring Instructions:
 Bank of Hawaii

ABA #121301028
 Account to Credit: 0298 206330

Attn: Iwalani Sabarra-Kapika
 Reference:
	  	 	    .    	% 	 	 	    .    	% 

  

	*	To be expressed as a percentage rounded to the seventh digit to the right of the decimal point. 

  
 - 2 - 

 SCHEDULE II 

PROPORTIONATE SHARES AND COMMITMENTS OF THE LENDERS 
  

																					
	 LENDERS
	  	REVOLVING LOAN
PROPORTIONATE
SHARE1	 	 	REVOLVING LOAN
COMMITMENT	 	  	TERM LOAN
PROPORTIONATE
SHARE1	 	 	TERM LOAN
COMMITMENT	 	  	TOTAL
COMMITMENTS	 
	 American Savings Bank
	  	 	28.57143	% 	 	$	1,428,571	  	  	 	28.57143	% 	 	$	8,571,429	  	  	$	10,000,000	  
	 Central Pacific Bank
	  	 	28.57143	% 	 	$	1,428,571	  	  	 	28.57143	% 	 	$	8,571,429	  	  	$	10,000,000	  
	 Bank of Hawaii
	  	 	42.85714	% 	 	$	2,142,857	  	  	 	42.85714	% 	 	$	12,857,143	  	  	$	15,000,000	  
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 
						
	 TOTAL
	  	 	100.00	% 	 	$	5,000,000	  	  	 	100.00	% 	 	$	30,000,000	  	  	$	35,000,000	  
		  	  
	  
	 	 	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 

  

	1 	Expressed as a percentage rounded to the seventh digit to the right of the decimal point. 

 SCHEDULE 1.01(A) 

PRICING GRID 
 Revolving Credit
Facility 
  

															
	 Level
	  	Leverage Ratio	  	Applicable Margin
for LIBOR Loans	 	 	Applicable Margin
for Base Rate Loans	 	 	Unused Fees	 
					
	 1
	  	< 4.00x	  	 	1.75	% 	 	 	– 0.25	% 	 	 	0.25	% 
					
	 2
	  	> 4.00x but
£ 5.00x	  	 	2.00	% 	 	 	0	% 	 	 	0.375	% 
					
	 3
	  	> 5.00x	  	 	2.25	% 	 	 	0.25	% 	 	 	0.50	% 

 Term Loan Facility 
  

											
	 Level
	  	Leverage Ratio	  	Applicable Margin
for LIBOR Loans	 	 	Applicable Margin
for Base Rate Loans	 
				
	 1
	  	< 4.00x	  	 	2.00	% 	 	 	0	% 
				
	 2
	  	3 4.00x but
£ 5.00x	  	 	2.25	% 	 	 	0.25	% 
				
	 3
	  	> 5.00x	  	 	2.50	% 	 	 	0.50	% 

 SCHEDULE 3.01 

INITIAL CONDITIONS PRECEDENT 
  

	A.	Principal Credit Documents. 

 (1) The Credit Agreement, duly executed by
Borrower, each Lender and Agent; 
 (2) A Revolving Loan Note payable to each Lender, each duly executed by Borrower; 

(3) A Term Loan Note payable to each Lender, each duly executed by Borrower; 

(4) The Membership Interests Pledge Agreement, duly executed by Holdings with respect to the pledge of 100% of its membership
interests in Borrower; and 
 (5) The Security Agreement, duly executed by Borrower. 

 

	B.	Borrower Corporate Documents. 

 (1) The Articles of Organization of
Borrower, certified as of a recent date prior to the Closing Date by the State of Hawaii; 
 (2) A Certificate of Good
Standing for Borrower, certified as of a recent date prior to the Closing Date by the State of Hawaii; 
 (3) A certificate
of the Manager of Borrower, dated the Closing Date, certifying (a) that the Articles of Organization of Borrower, in the form certified by the State of Hawaii and delivered to Agent pursuant to item B(1) hereof, is in full force and
effect and has not been amended, supplemented, revoked or repealed since the date of such certification; (b) that attached thereto is a true and correct copy of the Operating Agreement of Borrower as in effect on the Closing Date; (c) that
attached thereto are true and correct copies of resolutions duly adopted by the members of Borrower and continuing in effect, which authorize the execution, delivery and performance by Borrower of the Credit Agreement and the other Credit Documents
executed or to be executed by Borrower and the consummation of the transactions contemplated hereby and thereby; and (d) that there are no proceedings for the dissolution or liquidation of Borrower; and 

(4) A certificate of the Manager of Borrower, dated the Closing Date, certifying the incumbency, signatures and authority of
the managers or officers of Borrower authorized to execute, deliver and perform the Credit Agreement and the other Credit Documents executed or to be executed by Borrower. 

	C.	Financial Statements, Financial Condition, Etc. 

 (1) A copy of the a)
pro-forma closing balance sheet of Borrower for the period ending September 30, 2013 taking into consideration the effect of the Acquisition, and b) pro-forma Leverage Ratio calculation pursuant to Paragraph 5.03(c) of the Credit Agreement,
with both financial exhibits certified by the Manager of Borrower; and 
 (2) Such other financial, business and other
information regarding Borrower or any of their Subsidiaries as Agent may reasonably request, including information as to possible contingent liabilities, tax matters, environmental matters and obligations for employee benefits and compensation. 

 

	D.	Collateral Documents. 

 (1) Such Uniform Commercial Code financing
statements and fixture filings (appropriately completed and executed) for filing in such jurisdictions as Agent may request to perfect the Liens granted to Agent in this Agreement, the Security Documents, and the other Credit Documents; 

(2) Such Uniform Commercial Code termination statements (appropriately completed and executed) for filing in such jurisdictions
as Agent may request to terminate any financing statement evidencing Liens of other Persons in the Collateral which are prior to the Liens granted to Agent in this Agreement, the Security Documents, and the other Credit Documents, except for any
such prior Liens which are expressly permitted by the Credit Agreement to be prior; 
 (3) Uniform Commercial Code search
certificates from the jurisdictions in which Uniform Commercial Code financing statements are to be filed pursuant to item D.(1) above reflecting no other financing statements or filings which evidence Liens of other Persons in the
Collateral which are prior to the Liens granted to Agent in this Agreement, the Security Documents and the other Credit Documents, except for any such prior Liens (a) which are expressly permitted by the Credit Agreement to be prior or
(b) for which Agent has received a termination statement pursuant to item D.(2) above; 
 (4) Such other
documents, instruments and agreements as Agent may reasonably request to establish and perfect the Liens granted to Agent in this Agreement, the Security Documents and the other Credit Documents; and 

(5) Such other evidence as Agent may request to establish that the Liens granted to Agent in this Agreement, the Security
Agreements, and the other Credit Documents are perfected and prior to the Liens of other Persons in the Collateral, except for any such Liens which are expressly permitted by the Credit Agreement to be prior. 

 

	E.	Other Items. 

 (1) Certificates of insurance evidencing the insurance
Borrower is required to maintain pursuant to Subparagraph 5.01(d), together with endorsements thereto as required by such subparagraph; 

  
 - 2 - 

 (2) Receipt by Agent of the final executed Membership Interest Purchase
Agreement, MSA contribution agreement, assignments and other conveyances between HIE and Borrower of satisfactory evidence that Holdings acquired all of the issued and outstanding membership interests of Tesoro Hawaii prior to the date hereof; 

(3) Evidence satisfactory to Agent that the proceeds of the Term Loan Borrowing to be made on the Closing Date will be used to
finance Borrower’s acquisition of the Retail Business; 
 (4) Opinion letter of legal counsel to Borrower required under
Paragraph 3.01(f); 
 (5) A certificate of an Executive Officer of Borrower, addressed to Agent and dated the Closing
Date, certifying that: 
 (a) The representations and warranties set forth in Paragraph 4.01 are true and correct in
all material respects as of such date (except for such representations and warranties made as of a specified date, which shall be true and correct in all material respects as of such date); and 

(b) No Event of Default or Default has occurred and is continuing as of such date; 

(6) All fees and expenses payable to Agent and Lenders on or prior to the Closing Date; 

(7) All fees and expenses of Agent’s counsel, Carlsmith Ball LLP, through the Closing Date; and 

(8) Such other evidence as Agent or any Lender may reasonably request to establish the accuracy and completeness of the
representations and warranties and the compliance with the terms and conditions contained in this Agreement and the other Credit Documents. 

  
 - 3 - 

 SCHEDULE 5.02(i) 

TRANSACTIONS WITH AFFILIATES 
 The
following agreements have been entered into by HIE Retail, LLC in connection with the transfer of the retail gasoline station and convenience store business to HIE Retail, LLC: 

 

	 	1.	Contribution and Assignment Agreement among Hawaii Independent Energy, LLC, HIE Retail, LLC and Hawaii Pacific Energy, LLC 

  

	 	2.	Management Services and Employment Services Agreement between HIE Retail, LLC and Hawaii Independent Energy, LLC 

  

	 	3.	Trademark Sublicense Agreement between Hawaii Independent Energy, LLC and HIE Retail, LLC 

  

	 	4.	Bill of Sale, Assignment and Assumption Agreement among Hawaii Independent Energy, LLC, HIE Retail, LLC and Hawaii Pacific Energy, LLC 

 SCHEDULE 7.05 

ENVIRONMENTAL DUE DILIGENCE 

None. 

 Exhibits 
  

			
	Exhibit A	  	Notice of Revolving Loan Borrowing
	Exhibit B	  	Notice of Revolving Loan Conversion
	Exhibit C	  	Notice of Revolving Loan Interest Period Selection
	Exhibit D	  	Notice of Term Loan Borrowing
	Exhibit E	  	Notice of Term Loan Conversion
	Exhibit F	  	Notice of Term Loan Interest Period Selection
	Exhibit G	  	Revolving Loan Note
	Exhibit H	  	Term Loan Note
	Exhibit I	  	Compliance Certificate
	Exhibit J	  	Assignment Agreement

  

			
	Schedule I	  	Lenders
		
	Schedule II	  	Proportionate Shares and Commitments of the Lenders
		
	Schedule 1.01(a)	  	Pricing Grid
		
	Schedule 3.01	  	Initial Conditions Precedent
		
	Schedule 5.02(i)	  	Transactions with Affiliates
		
	Schedule 7.05	  	Environmental Due Diligence

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