Document:

Guaranty, dated May 31, 2007

 Exhibit 10.16 
 EXECUTION COPY 
 GUARANTY 
 This GUARANTY (as the same may be amended, supplemented, restated or otherwise modified from time to time, this “Guaranty”), dated as of
May 31, 2007 by and among LYN HOLDINGS CORP., a Delaware corporation (“Holdings”), Neff Rental, Inc., Neff Rental LLC, Neff Finance Corp. and each of the other entities that becomes a party hereto pursuant to
Section 6 (collectively, “Guarantors”), and BANK OF AMERICA, N.A. as agent (in such capacity, “Agent”) for itself and the lenders from time to time signatory to the Credit Agreement hereinafter defined
(“Lenders”) and the other Secured Parties. 
 W I T N E S S E T H: 
 WHEREAS, Holdings, the Parent Borrower and Bank of America, as Agent, have entered into the $290,000,000 Credit Agreement, dated as of the date hereof
(as from time to time amended, restated, supplemented or otherwise modified, the “Credit Agreement”; capitalized terms used herein and not otherwise defined herein shall have the meaning ascribed to such terms in the Credit
Agreement); 
 WHEREAS, the Guarantors will derive direct and indirect economic benefits from the making of the Term Loans and other
financial accommodations provided to the Parent Borrower pursuant to the Credit Agreement; 
 WHEREAS, it is a condition precedent the
obligation of the Lenders to make their Term Loans to the Parent Borrower under the Credit Agreement that the Guarantors shall have executed and delivered this Guaranty to Agent for the benefit of Secured Parties; 
 WHEREAS, in order to induce Agent and Lenders to enter into the Credit Agreement and other Loan Documents and to induce Lenders to make the Term Loans as
provided for in the Credit Agreement, Guarantors have agreed to guarantee payment of the Obligations; and 
 NOW, THEREFORE, in consideration
of the premises and the covenants hereinafter contained, and to induce Lenders to provide the Term Loans and other financial accommodations under the Credit Agreement, the Guarantors hereby agree with Agent, for the ratable benefit of Secured
Parties as follows: 
  

	1.	DEFINITIONS. 

 (a) References to this
“Guaranty” shall mean this Guaranty, including all amendments, modifications and supplements and any annexes, exhibits and schedules to any of the foregoing, and shall refer to this Guaranty as the same may be in effect at the time
such reference becomes operative. 
 (b) The words “hereof,” “herein” and “hereunder” and words of similar
import when used in this Guaranty shall refer to this Guaranty as a whole and not to any particular provision of this Guaranty, and Section references are to Sections of this Guaranty unless otherwise specified. The words “include,”
“includes” and “including” shall be deemed to be followed by the phrase “without limitation.” 

	2.	THE GUARANTY. 

 2.1 Guaranty of Guaranteed
Obligations of the Parent Borrower. Each Guarantor hereby jointly and severally unconditionally guarantees to Agent and Lenders, and their respective successors, endorsees, transferees and assigns, for the benefit of Secured Parties, the prompt
payment (whether at stated maturity, by acceleration or otherwise) and performance of the Obligations (other than such Person’s own Obligations under the Credit Agreement) (hereinafter the “Guaranteed Obligations”). Each
Guarantor agrees that this Guaranty is a guaranty of payment and performance and not of collection, and that its obligations under this Guaranty shall be primary, absolute and unconditional, irrespective of, and unaffected by: 
 (a) the validity, regularity, enforceability or any future amendment of, or change in this Guaranty, any other Loan Document or any other
agreement, document or instrument to which any Credit Party and/or any Guarantor is or may become a party; 
 (b) the absence
of any action to enforce this Guaranty or any other Loan Document or the waiver or consent by Agent, Lenders or any other Secured Party with respect to any of the provisions thereof; 
 (c) the existence, value or condition of, or failure to perfect its Lien against, any Collateral for the Guaranteed Obligations or any
action, or the absence of any action, by Agent in respect thereof (including, without limitation, the release of any such security); or 
 (d) the insolvency of the Parent Borrower or any other Credit Party; or 
 (e) any other
action or circumstances which might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, 
 it being agreed by each
Guarantor that its obligations under this Guaranty shall not be discharged until the Termination Date, on which date, each Guarantor shall be automatically released from its obligations hereunder. Each Guarantor shall be regarded, and shall be in
the same position, as the principal debtor with respect to the Guaranteed Obligations. Each Guarantor agrees that any notice or directive given at any time to Agent which is inconsistent with the waiver in the immediately preceding sentence shall be
null and void and may be ignored by Agent and the Secured Parties and, in addition, may not be pleaded or introduced as evidence in any litigation relating to this Guaranty for the reason that such pleading or introduction would be at variance with
the written terms of this Guaranty, unless Agent and the Requisite Lenders have specifically agreed otherwise in writing. It is agreed among each Guarantor, Agent and Secured Parties that the foregoing waivers are of the essence of the transaction
contemplated by the Loan Documents and that, but for this Guaranty and such waivers, Agent and Lenders would decline to enter into the Credit Agreement and Secured Parties would decline to enter into the applicable documents governing the
Obligations. 
  

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 2.2 Demand by Agent or Lenders. In addition to the terms of the Guaranty set forth in
Section 2.1 hereof, and in no manner imposing any limitation on such terms, it is expressly understood and agreed that, if, at any time, the outstanding principal amount of the Guaranteed Obligations under the Credit Agreement (including
all accrued interest thereon) is declared to be immediately due and payable, then Guarantors shall, without demand, pay to the holders of the Guaranteed Obligations the entire outstanding Guaranteed Obligations due and owing to such holders. Payment
by Guarantors shall be made to Agent in Dollars in immediately available funds to an account designated by Agent or at any other address that may be specified in writing from time to time by Agent, and shall be credited and applied to the Guaranteed
Obligations. 
 2.3 Enforcement of Guaranty. In no event shall Agent have any obligation (although it is entitled, at its option in
its sole discretion) to proceed against the Parent Borrower or any other Credit Party or any Collateral pledged to secure the Guaranteed Obligations before seeking satisfaction from any or all of the Guarantors, and Agent may proceed, prior or
subsequent to the enforcement of Agent’s rights hereunder, to exercise any right or remedy which it may have against any Collateral, as a result of any Lien it may have as security for all or any portion of the Guaranteed Obligations.

 2.4 Waiver. 
 (a) In addition to the waivers contained in Section 2.1 hereof, each Guarantor hereby waives to the fullest extent permitted by law, and each Guarantor hereby agrees that is shall not at any time insist upon, plead or in any
manner whatsoever claim or take the benefit or advantage of, any appraisal, valuation, stay, extension, marshaling of assets or redemption laws, or exemption, whether now or at any time hereafter in force, which may delay, prevent or otherwise
affect the performance by Guarantors (or any of them) of their Guaranteed Obligations under, or the enforcement by Agent, Lenders or other Secured Parties of, this Guaranty. 
 (b) Guarantors hereby waive diligence and presentment (whether for non-payment or protest or of acceptance, maturity, extension of time,
change in nature or form of the Guaranteed Obligations, acceptance of further security, release of further security, composition or agreement arrived at as to the amount of, or the terms of, the Guaranteed Obligations, notice of adverse change in
the Parent Borrower’s, Holdings’ or any other Guarantor’s financial condition or any other fact which might increase the risk to Guarantors) with respect to any of the Guaranteed Obligations or all other demands whatsoever and waive
the benefit of all provisions of law which are or might be in conflict with the terms of this Guaranty. 
 2.5 Modification of Guaranteed
Obligations, Etc. Each Guarantor hereby acknowledges and agrees that Agent and Secured Parties may at any time or from time to time, with or without the consent of, or notice to, Guarantors or any of them: 
 (a) change or extend the manner, place or terms of payment of, or renew or alter all or any portion of, the Guaranteed Obligations;

  

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 (b) take any action under or in respect of the Loan Documents in the exercise of any
remedy, power or privilege contained therein or available to it at law, equity or otherwise, or waive or refrain from exercising any such remedies, powers or privileges; 
 (c) amend or modify, in any manner whatsoever, the Loan Documents (in accordance with the terms thereof); 
 (d) extend or waive the time for any Credit Party’s performance of, or compliance with, any term, covenant or agreement on its part
to be performed or observed under the Loan Documents, or waive such performance or compliance or consent to a failure of, or departure from, such performance or compliance; 
 (e) (i) subject to the Credit Agreement, take and hold Collateral for the payment of the Guaranteed Obligations guaranteed hereby or
(ii) upon the occurrence and during the continuance of an Event of Default or otherwise in accordance with the Loan Documents, sell, exchange, release, dispose of, or otherwise deal with, any property pledged, mortgaged or conveyed, or in which
Agent or any Secured Party has been granted a Lien, to secure any of the Obligations; 
 (f) release any Person who may be
liable in any manner for the payment of any amounts owed by any Guarantor or any Credit Party to Agent or any Secured Party; 
 (g) modify or terminate the terms of any intercreditor or subordination agreement pursuant to which claims of other creditors of any Guarantor or any Credit Party are subordinated to the claims of Agent and Secured Parties; and/or

 (h) subject to the Credit Agreement, the Intercreditor Agreement, Security Agreement and Pledge Agreement, apply any sums
by whomever paid or however realized to any amounts owing by any Guarantor or any Credit Party to Agent or any Secured Party in such manner as Agent or any Lender shall determine in its discretion; 
 and none of Agent or any Secured Party shall incur any liability to any Guarantor as a result thereof, and no such action shall impair or release the Guaranteed
Obligations of any Guarantor under this Guaranty (unless, subject to Section 2.6 below, such action results in the payment in full and satisfaction of the Obligations). 
 2.6 Reinstatement. This Guaranty shall remain in full force and effect and continue to be effective, or be reinstated, should any petition be
filed by or against the Parent Borrower or any Guarantor for liquidation or reorganization, should the Parent Borrower or any Guarantor become insolvent or make an assignment for the benefit of creditors or should a receiver or trustee be appointed
for all or any significant part of the Parent Borrower’s or such Guarantor’s assets, and shall continue to be effective or be reinstated, as the case may be, if at any time payment and performance of the Guaranteed Obligations, or any part
thereof, is, pursuant to applicable law, rescinded or reduced in amount, or must otherwise be restored or returned by Agent or any Secured Party, whether as a “voidable preference”, “fraudulent conveyance”, or otherwise, all as
though such payment or performance had not been made and such Guaranteed Obligations shall be deemed reduced only by such amount paid and not so rescinded, reduced, restored or returned. 
  

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 2.7 Waiver of Subrogation, Etc. Notwithstanding anything to the contrary in this Guaranty, or in
any other Loan Document, each Guarantor hereby expressly and irrevocably waives, to the fullest extent permitted by law, on behalf of itself and its successors and assigns (including any surety), any and all rights at law or in equity to
subrogation, to reimbursement, to exoneration, to contribution, to indemnification, to set off or to any other rights that could accrue to a surety against a principal, to a guarantor against a principal, to a guarantor against a maker or obligor,
to an accommodation party against the party accommodated, to a holder or transferee against a maker, or to the holder of any claim against any Person, and which such Guarantor may have or hereafter acquire against any Credit Party in connection with
or as a result of such Guarantor’s execution, delivery and/or performance of this Guaranty, or any other documents to which such Guarantor is a party or otherwise. 
 2.8 Election of Remedies. If Agent may, under applicable law, proceed to realize benefits under any of the Loan Documents giving Agent and Secured Parties a Lien upon any Collateral of any Credit Party, either
by judicial foreclosure or by non-judicial sale or enforcement, Agent may, at its sole option, determine which of such remedies or rights it may pursue without affecting any of such rights and remedies under this Guaranty. If, in the exercise of any
of its rights and remedies, Agent shall forfeit any of its rights or remedies, including its right to enter a deficiency judgment against any Credit Party, whether because of any applicable laws pertaining to “election of remedies” or the
like, each Guarantor hereby consents to such action by Agent and waives, to the fullest extent permitted by law, any claim based upon such action, even if such action by Agent shall result in a full or partial loss of any rights of subrogation which
such Guarantor might otherwise have had but for such action by Agent. Any election of remedies which results in the denial or impairment of the right of Agent to seek a deficiency judgment against any Credit Party shall not impair each
Guarantor’s obligation to pay the full amount of the Guaranteed Obligations. In the event Agent shall bid at any foreclosure or trustee’s sale or at any private sale permitted by law or the Loan Documents, Agent may bid all or less than
the amount of the Guaranteed Obligations and the amount of such bid need not be paid by Agent but shall be credited against the Guaranteed Obligations. Any difference between such bid amount and the remaining balance of the Guaranteed Obligations
shall be deemed to be the amount of the Guaranteed Obligations guaranteed under this Guaranty; provided, any present or future law or court decision or ruling may have the effect of reducing the amount of any deficiency claim to which Agent
and Secured Parties might otherwise be entitled but for such bidding at any such sale. 
  

	3.	REPRESENTATIONS AND WARRANTIES. 

 (a) To induce Lenders to make the Term Loans under the Credit Agreement and to induce the other Secured Parties to make financial accommodations to the Parent Borrower (for the benefit of the Parent Borrower or any Guarantor) under the
applicable Loan Documents, each Guarantor hereby makes the representations and warranties as to it contained in the Credit Agreement as they relate to such Guarantor, each of which is incorporated herein by reference and each Guarantor further
agrees to take, or refrain from taking, as the case may be, each action necessary to be taken or not taken, as the case may be, so that no Default or Event of Default is caused by the failure to take such action or to refrain from taking such action
by such Guarantor; and 
  

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 (b) Each Guarantor represents, warrants, and jointly and severally agrees that, as of the
date of this Guaranty, its obligations under this Guaranty are not subject to any offsets or defenses against Agent or any Secured Party or any Credit Party of any kind. Guarantors further jointly and severally agree that their obligations under
this Guaranty shall not be subject to any counterclaims, offsets or defenses against Agent or any Secured Party or against any Credit Party of any kind which may arise in the future. 
  

	4.	FURTHER ASSURANCES. 

 Each Guarantor agrees, upon
the written request of Agent to execute and deliver to Agent, from time to time, any additional instruments or documents considered reasonably necessary by Agent to cause this Guaranty to be, become or remain valid and effective in accordance with
its terms. 
  

	5.	OTHER TERMS. 

 5.1 Entire Agreement. This
Guaranty, together with the other Loan Documents, constitutes the entire agreement between the Guarantors, Agent and Secured Parties with respect to the subject matter hereof and supersedes all prior agreements relating to a guaranty of the Term
Loans under the Loan Documents and/or the Guaranteed Obligations. 
 5.2 Headings. The headings in this Guaranty are for convenience
of reference only and are not part of the substance of this Guaranty. 
 5.3 Severability. If any provision of this Guaranty shall be
prohibited by or invalid under applicable law in any jurisdiction, such provision shall be ineffective in such jurisdiction to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining
provisions of this Guaranty, and any such prohibition or invalidity in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good faith negotiations to replace
the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 
 5.4 Notices. Whenever it is provided herein that any notice, demand, request, consent, approval, declaration or other communication shall or may
be given to or served upon any of the parties hereto by any other party hereto, or whenever any of the parties hereto desires to give or serve upon another any such communication with respect to this Guaranty, each such notice, demand, request,
consent, approval, declaration or other communication shall be in writing and shall be given as provided in Section 9.3 of the Credit Agreement. 
 5.5 Successors and Assigns. This Guaranty and all Obligations of Guarantors hereunder shall be binding upon the successors and assigns of each Guarantor (including a debtor-in-possession on behalf of such
Guarantor) and shall, together with the rights and remedies of Agent, for itself and for the benefit of Secured Parties, hereunder, inure to the benefit of Agent and Secured Parties and their respective successors and assigns. No sales of
participations, other sales, assignments, transfers or other dispositions of any agreement governing or instrument evidencing the Obligations or any portion thereof or interest therein shall in any manner affect the rights of Agent and Secured
Parties hereunder. Guarantors may not assign, sell, hypothecate or otherwise transfer any interest in or obligation under this Guaranty. 
  

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 5.6 No Waiver; Cumulative Remedies; Amendments. Neither Agent nor any Secured Party shall by any
act, delay, omission or otherwise be deemed to have waived any of its rights or remedies hereunder, and no waiver shall be valid unless in writing, signed by Agent and then only to the extent therein set forth. A waiver by Agent, for itself and the
ratable benefit of Secured Parties, of any right or remedy hereunder on any one occasion shall not be construed as a bar to any right or remedy which Agent would otherwise have had on any future occasion. No failure to exercise nor any delay in
exercising on the part of Agent or any other Secured Party, any right, power or privilege hereunder, shall operate as a waiver thereof, nor shall any single or partial exercise of any right, power or privilege hereunder preclude any other or future
exercise thereof or the exercise of any other right, power or privilege. The rights and remedies hereunder and privileges herein provided are cumulative and may be exercised singly or concurrently, and are not exclusive of any rights and remedies
provided by law. None of the terms or provisions of this Guaranty may be waived, altered, modified, supplemented or amended except by an instrument in writing, duly executed by Agent and Guarantors in accordance with Section 9.2 of the Credit
Agreement. 
 5.7 Termination. This Guaranty is a continuing guaranty and shall remain in full force and effect until the Termination
Date. Upon payment and performance in full of the Guaranteed Obligations, Agent shall deliver to Guarantors such documents as Guarantors may reasonably request to evidence such termination in accordance with the Credit Agreement. 
 5.8 Counterparts. This Guaranty may be executed in any number of counterparts (including by facsimile or other electronic submission), each of
which shall collectively and separately constitute one and the same agreement. 
 5.9 GOVERNING LAW. THIS GUARANTY AND THE RIGHTS AND
OBLIGATIONS OF THE PARTIES ARISING HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 5.10 WAIVER OF JURY TRIAL. EACH GUARANTOR AND AGENT WAIVES ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, SUIT OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT, OR OTHERWISE, ARISING
OUT OF, CONNECTED WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED IN CONNECTION WITH THIS GUARANTY AND THE OTHER LOAN DOCUMENTS OR THE TRANSACTIONS RELATED HERETO OR THERETO. 
 5.11 Limitation on Guaranteed Obligations of Subsidiary Guarantors. Notwithstanding any provision herein contained to the contrary, each
Subsidiary Guarantor’s liability hereunder shall be limited to an amount not to exceed as of any date of determination the greater of: 
 (a) the net amount of all Term Loans and other extensions of credit advanced under the Credit Agreement or other Loan Documents and directly or indirectly re-loaned 

  

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or otherwise transferred to, or incurred for the benefit of, such Guarantor, plus interest thereon at the applicable rate specified in the Credit
Agreement or other applicable Loan Document; or 
 (b) the amount which could be claimed by Agent and the Lenders from such
Guarantor under this Guaranty without rendering such claim voidable or avoidable under Section 548 of Chapter 11 of the Bankruptcy Code or under any applicable state Uniform Fraudulent Transfer Act, Uniform Fraudulent Conveyance Act or similar
statute or common law after taking into account, among other things, such Guarantor’s right of contribution and indemnification from each other Guarantor under Section 5.12 
 5.12 Contribution with Respect to Guaranteed Obligations. 
 (a) To the extent that any Guarantor shall make a payment under this Guaranty of all or any of the Guaranteed Obligations (a
“Guarantor Payment”) which exceeds the amount of such Guarantor’s proportionate share of any payment made hereunder, following payment in full of the Guaranteed Obligations, such Guarantor shall be entitled to seek and receive
contribution and indemnification payments from and against, and be reimbursed by, each of the other Guarantors hereunder which has not paid its proportionate share of such payment for the amount of such excess. 
 (b) As of any date of determination, the “Allocable Amount” of any Guarantor shall be equal to the maximum amount of the
claim which could then be recovered from such Guarantor under this Guaranty without rendering such claim voidable or avoidable under Section 548 of Chapter 11 of the Bankruptcy Code or under any applicable state Uniform Fraudulent Transfer Act,
Uniform Fraudulent Conveyance Act or similar statute or common law. 
 (c) This Section 5.11 is intended only to
define the relative rights of Guarantors and nothing set forth in this Section 5.11 is intended to or shall impair the obligations of Guarantors, jointly and severally, to pay any amounts as and when the same shall become due and payable
in accordance with the terms of this Guaranty. 
  

	6.	ADDITIONAL GUARANTORS. 

 Each Guarantor agrees that,
if, pursuant to Section 2.8(c) of the Credit Agreement, the Parent Borrower or any other Credit Party shall be required to cause any Subsidiary thereof that is not a Guarantor to become a Guarantor hereunder, or if for any reason the Parent
Borrower or any other Credit Party desires any such Subsidiary to become a Guarantor hereunder, such Subsidiary shall execute and deliver to Agent a Guaranty Supplement in substantially the form of Exhibit A (Guaranty Supplement)
attached hereto, together with the applicable Joinder Agreement required to be delivered to Agent pursuant to Section 2.8(c) of the Credit Agreement, and shall thereafter for all purposes be a party hereto and have the same rights, benefits
and obligations as a Guarantor party hereto on the Closing Date. 
  

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	7.	SECURITY. 

 To secure payment of each
Guarantor’s obligations under this Guaranty, concurrently with the execution of this Guaranty, each Guarantor has entered into (a) the Security Agreement pursuant to which each Guarantor has granted to Agent for the benefit of Lenders a
security interest in substantially all of its personal property and (b) the Pledge Agreement pursuant to which each Guarantor has pledged all of the Stock of each of its Subsidiaries to Agent for the benefit of Secured Parties. 
 [Remainder of Page Intentionally Left Blank] 
  

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 IN WITNESS WHEREOF, the parties hereto have executed and delivered this Guaranty as of the date first
above written. 
  

			
	 LYN HOLDINGS CORP.

	 NEFF RENTAL, INC.

	 NEFF RENTAL LLC

	 NEFF FINANCE CORP.

		
	 By:
	 	 /s/ Mark Irion

	Name:	 	Mark Irion
	Title:	 	Chief Financial Officer

 [Signature page to Second Lien Guaranty] 

			
	 BANK OF AMERICA, N.A., as Agent

		
	 By:
	 	 /s/ Mollie S. Canup

	Name:	 	Mollie S. Canup
	Title:	 	Vice President

 [Signature page to Second Lien Guaranty]Second Lien Security Agreement

 Exhibit 10.17 
 EXECUTION COPY 
 SECOND LIEN SECURITY AGREEMENT 
 SECOND LIEN SECURITY AGREEMENT, dated as of May 31, 2007 (as the same may be amended, supplemented, restated or otherwise modified from time to
time, this “Agreement”), among NEFF CORP., a Delaware corporation (“Parent Borrower”), LYN HOLDINGS CORP., a Delaware corporation (“Holdings”), the other guarantors party to the Guaranty on the date
hereof (together with Holdings, the “Guarantors”) and each other Person which becomes party hereto as Grantor pursuant to Section 20 of this Agreement (such Persons, together with Parent Borrower and the Guarantors,
collectively, the “Grantors” and each, a “Grantor”), and BANK OF AMERICA, N.A. (“Bank of America”), in its capacity as Agent for the Secured Parties. 
 W I T N E S S E T H: 
 WHEREAS, Parent
Borrower, Holdings, the Persons party thereto from time to time as Lenders or otherwise, and Bank of America, as the Agent, have entered into the Credit Agreement, dated as of the date hereof (as from time to time amended, restated, supplemented or
otherwise modified, the “Credit Agreement”); 
 WHEREAS, in order to induce Agent and Lenders to enter into the Credit
Agreement and the other Loan Documents and to induce Lenders to make the Term Loans as provided for in the Credit Agreement, each Grantor has agreed to grant a continuing Lien on the Collateral (as hereinafter defined) to secure the Obligations and
the Guarantors have guaranteed the Obligations; and 
 WHEREAS, in order to secure the obligations under the First Lien Credit Agreement (as
herinafter defined), the Pledgors are concurrently granting to the First Lien Agent for the benefit of the holders of First Lien Obligations (as defined in the Intercreditor Agreement) and certain other secured parties, a first priority security
interest in the Collateral, it being understood that the relative rights and priorities of the grantees in respect of the Collateral are governed by the Intercreditor Agreement. 
 NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1. Defined Terms. 
 (a) All capitalized terms used but not otherwise defined herein and defined in the Credit Agreement have the meanings given to them in the Credit
Agreement. 
 (b) The following terms shall have the meanings assigned thereto in the Code: commercial tort claim, commodities intermediary,
deposit account, documents, electronic chattel paper, financial asset, goods, letter-of-credit right, payment intangibles, proceeds, securities intermediary, supporting obligation and uncertificated securities. 

 (c) As used herein, the following terms shall have the meaning set forth below: 
 “Control Agent” has the meaning specified in the Intercreditor Agreement. 
 “Control Collateral” has the meaning specified in the Intercreditor Agreement. 
 “Collateral” has the meaning specified in Section 2(a). 
 “Discharge of First Lien Obligations” has the meaning specified in the Intercreditor Agreement. 
 “Domestic Person” means any “United States person” under and as defined in Section 7701(a)(30) of the IRC.

 “Excluded Equity” means any Voting Stock in excess of 65% of the total outstanding Voting Stock of any
direct Subsidiary of any Grantor that is a Non-U.S. Person. For the purposes of this definition, “Voting Stock” means, as to any issuer, the issued and outstanding shares of each class of stock of such issuer entitled to vote
(within the meaning of Treasury Regulations § 1.956-2(c)(2)). 
 “Excluded Property” means,
collectively, (i) Excluded Equity, (ii) any permit, lease, license, contract, Instrument or other agreement held by any Grantor that prohibits or requires the consent of any Person other than Holdings, Parent Borrower or their respective
Affiliates as a condition to the creation by such Grantor of a Lien thereon, or any permit, lease, license, contract or other agreement held by any Grantor to the extent that any laws applicable thereto prohibits the creation of a Lien thereon, but
only, in each case, to the extent, and for so long as, such prohibition is not terminated or rendered unenforceable or otherwise deemed ineffective by the Code (including, without limitation, pursuant to Sections 9-406, 9-407, 9-408 and 9-409 of the
Code) or any other laws (including, without limitation, the Bankruptcy Code), (iii) any property that would be otherwise be included in the Collateral if and to the extent such property is subject to a Lien permitted by clause (iii) of
Section 3.2(a) of the Credit Agreement, in each case to the extent applicable documents related to such Lien prohibit the creation of any other Liens on such property, (iv) assets sold to a Person that is not a Credit Party in compliance
with the Credit Agreement, (v) any letter of credit to the extent any Grantor is required by applicable law to apply the Proceeds of a drawing of such letter of credit for a specified purpose, and (vi) any “intent-to-use”
applications for trademark or service mark registrations filed pursuant to Section 1(b) of the Lanham Act, 15 U.S.C. § 1051, unless and until an Amendment to Allege Use or a Statement of Use under Sections 1(c) and 1(d) of said Act has
been filed, to the extent that any assignment of an “intent-to-use” application prior to such filing would violate then Lanham Act; provided, however, “Excluded Property” shall not include any Proceeds,
substitutions or replacements of Excluded Property (unless such Proceeds, substitutions or replacements would constitute Excluded Property). 
  

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 “First Lien Credit Agreement” means the Credit Agreement dated as of the
date hereof among Parent Borrower, Holdings, each of the other Persons named therein as Credit Parties, the Persons party thereto from time to time as Lenders or otherwise, and Bank of America, as the Swing Line Lender, L/C Issuer and Agent (as from
time to time amended, restated, supplemented or otherwise modified). 
 “Intercompany Note”: any promissory
note evidencing loans made by any Grantor to Parent Borrower or any of its subsidiaries. 
 “Non-U.S. Person”
means any Person that is not a Domestic Person. 
 “Pledged Note”means with respect to any Grantor, all
promissory notes listed on Schedule IV, all Intercompany Notes at any time issued to any Grantor and all other promissory notes issued to or held by any Grantor in excess of $1,000,000 individually (other than promissory notes issued in
connection with extensions of trade credit by any Grantor in the ordinary course of business). 
 “Pledged
Stock”means the shares of Capital Stock listed on Schedule IV, together with any other shares, stock certificates, options, interests or rights of any nature whatsoever in respect of the Capital Stock of the Parent Borrower or
Subsidiary that may be issued or granted to, or held by, any Grantor while this Agreement is in effect; provided that Pledged Stock shall not include, to the extent applicable law requires that a Subsidiary of such Grantor issue
directors’ qualifying shares, such shares or nominee or other similar shares. 
 “Titled Collateral”
means any motor vehicles and other goods covered by certificate of title. 
 “Uniform Commercial Code
Jurisdiction” means any jurisdiction that has adopted all or substantially all of Article 9 of the Code. 
 2. Grant of Lien.

 (a) To secure the prompt and complete payment, performance and observance of all of the Obligations, each Grantor hereby grants, assigns,
conveys, mortgages, pledges, hypothecates and transfers to Agent, for itself and the benefit of Secured Parties, a Lien upon and a continuing security interest in all of its right, title and interest in, to and under all personal property and other
assets, whether now owned by or owing to, or hereafter acquired by or arising in favor of such Grantor (including under any trade names, styles or derivations thereof), and whether owned or consigned by or to, or leased from or to, such Grantor, and
regardless of where located (all of which being hereinafter collectively referred to as the “Collateral”), as collateral security for the prompt and complete payment and performance when due (whether at the stated maturity by
acceleration or otherwise) of the Obligations, including: 
 (i) all Accounts; 
  

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 (ii) all Chattel Paper; 
 (iii) all Documents; 
 (iv) all General Intangibles (including Payment Intangibles and Software); 
 (v) all Goods (including Inventory,
Equipment and Fixtures); 
 (vi) all Instruments; 
 (vii) all Investment Property; 
 (viii) all Deposit Accounts; 
 (ix) all money, cash or Cash Equivalents of such Grantor;

 (x) all Supporting Obligations and Letter-of-Credit Rights of such Grantor; 
 (xi) the Commercial Tort Claims described on Schedule III and on any supplement thereto received by the Agent pursuant to
Section 5(a)(vii); and 
 (xii) to the extent not otherwise included, all Proceeds, tort claims, insurance claims
and other rights to payment not otherwise included in the foregoing and products of the foregoing and all accessions to, substitutions and replacements for, and rents and profits of, each of the foregoing; 
 provided, however, that “Collateral” shall not include, nor shall security interest granted under Section 2(a) hereof attach to, any
Excluded Property; and provided, further, that if and when any property shall cease to be Excluded Property, immediately at and from such time, the Collateral shall include, and the security interest granted by each Grantor shall
attach to, such property. 
 (b) In addition, to secure the prompt and complete payment, performance and observance of the Obligations and in
order to induce Agent and Lenders as aforesaid, each Grantor hereby grants to Agent, for itself and the benefit of Secured Parties, a right of setoff against the property of such Grantor held by Agent or any Secured Party, consisting of Collateral
now or hereafter in the possession or custody of or in transit to Agent or any Secured Party, for any purpose, including safekeeping, collection or pledge, for the account of such Grantor, or as to which such Grantor may have any right or power.

 (c) In addition, to secure the prompt and complete payment, performance and observance of the Obligations and in order to induce Agent and
Lenders as aforesaid, each Grantor hereby grants to Control Agent, for itself and the benefit of Secured Parties, a Lien on and security interest in all of the right, title and interest of such Pledgor in, to and under the Control Collateral. It is
further understood and agreed that at any time that the Intercreditor Agreement is in effect, any Control Collateral that is required to be delivered, or control over which is required to be granted, to the Agent hereunder shall be delivered to the
Control Agent or be subject to Control Agent’s control. 
  

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 (d) Each Grantor hereby irrevocably authorizes Agent and its Affiliates, counsel and other
representatives, at any time and from time to time, to file or record financing statements, amendments to financing statements and, with notice to the Parent Borrower, other filing or recording documents or instruments with respect to the Collateral
in such form and in such offices as Agent reasonably determines appropriate to perfect the security interests of Agent under this Agreement, and such financing statements and amendments may describe the Collateral covered thereby as “all
assets” or “all personal property” or words of similar effect, whether now owned or hereafter acquired. Each Grantor hereby also authorizes Agent and its Affiliates, counsel and other representatives, at any time and from time to
time, to file continuation statements with respect to previously filed financing statements. A photographic or other reproduction of this Agreement shall be sufficient as a financing statement or other filing or recording document or instrument for
filing or recording in any jurisdiction to Agent. 
 The Liens are granted as security only and shall not subject Agent or any other Secured
Party to, or in any way alter or modify, any obligation or liability of any Grantor with respect to or arising out of the Collateral. 
 Notwithstanding anything herein to the contrary, the lien and security interest granted to the Agent pursuant to this Agreement shall be a second priority security interest in and Lien on and security interest in the Collateral and the
exercise of any right or remedy by the Agent hereunder is subject to the provisions of the Intercreditor Agreement. In the event of any conflict between the terms of the Intercreditor Agreement and this Agreement, the terms of the Intercreditor
Agreement shall govern and control. Notwithstanding anything herein to the contrary, prior to the Discharge of First Lien Obligations, the requirements of this Agreement to deliver Collateral to the Agent shall be deemed satisfied by delivery of
such Collateral to the Control Agent or the First Lien Agent. 
 3. Agent’s and Secured Parties’ Rights; Limitations on
Agent’s and Secured Parties’ Obligations. 
 (a) It is expressly agreed by each Grantor that, anything herein or in any other
Loan Document to the contrary notwithstanding, each Grantor shall remain liable under each of its respective Contractual Obligations to observe and perform all the conditions and obligations to be observed and performed by it thereunder. Neither
Agent nor any Secured Party shall have any obligation or liability under any Contractual Obligation by reason of or arising out of this Agreement or any other Loan Document or the granting herein of a Lien thereon or the receipt by Agent or any
Secured Party of any payment relating to any Contractual Obligation pursuant hereto. Neither Agent nor any Secured Party shall be required or obligated in any manner to perform or fulfill any of the obligations of any Grantor under or pursuant to
any Contractual Obligation, or to make any payment, or to make any inquiry as to the nature or the sufficiency of any payment received by it or the sufficiency of any performance by any party under any Contractual Obligation, or to present or file
any claims, or to take any action to collect or enforce any performance or the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times. 
  

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 (b) After the Discharge of the First Lien Obligations, at any time after an Event of Default has occurred
and is continuing, after giving notice to the relevant Grantor of its intent to do so, Agent may notify each of such Grantor’s Account Debtors and all other Persons obligated on any of the Collateral that Agent has a security interest therein,
and that payments shall be made directly to Agent, for itself and the benefit of Secured Parties. After the Discharge of the First Lien Obligations, at any time after an Event of Default has occurred and is continuing, upon the written request of
Agent, each Grantor shall so notify its Account Debtors and other Persons obligated on the Collateral. Once any such notice has been given to any Account Debtor or other Person obligated on the Collateral, none of the Grantors shall give any
contrary instructions to such Account Debtor or other Person without Agent’s prior written consent. 
 (c) After the Discharge of the
First Lien Obligations, any time after an Event of Default has occurred and is continuing, Agent may in Agent’s own name, in the name of a nominee of Agent or in the name of any Grantor communicate (by mail, telephone, facsimile or otherwise)
with Account Debtors, parties to Contractual Obligations and obligors in respect of Instruments to verify with such Persons, to Agent’s reasonable satisfaction, the existence, amount, terms of, and any other matter relating to, Accounts,
Instruments, Chattel Paper and/or payment intangibles. After the Discharge of the First Lien Obligations, if an Event of Default shall have occurred and be continuing, at Grantor’s sole expense, Agent shall have the right to engage a consultant
for, and each Grantor shall fully cooperate with such consultant in, the preparation and delivery to Agent and each Secured Party at any time and from time to time the following reports with respect to such Grantor: (i) a reconciliation of all
Accounts; (ii) an aging of all Accounts; (iii) trial balances; and (iv) a test verification of such Accounts as Agent may request. 
 (d) It is understood and agreed that the security interests in cash and Investment Property created hereunder shall not prevent the Grantors from using such assets in the ordinary course of their respective businesses. 
 4. Representations and Warranties. To induce the Agent and the Lenders to enter into the Credit Agreement and to induce the Lenders to make their
respective extensions of credit to the Parent Borrower thereunder, each Grantor hereby represents and warrants to the Agent and each Secured Party, jointly and severally, that: 
 (a) Each Grantor has rights in and the power to transfer each item of the Collateral upon which it purports to grant a Lien hereunder, free and clear of
any and all Liens other than (i) subject to the Intercreditor Agreement, the Permitted First Priority Liens and (ii) other Permitted Encumbrances. 
 (b) No effective security agreement, financing statement, equivalent security or Lien instrument or continuation statement covering all or any part of the Collateral is on file or of record in any public office,
except such as may have been filed (i) by any Grantor in favor of Agent pursuant to this Agreement or the other Loan Documents, (ii) by any Grantor in favor of the First Lien Agent pursuant to the First Lien Financing Documentation and
subject to the Intercreditor Agreement and (iii) in connection with any other Permitted Encumbrances. 
  

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 (c) This Agreement is effective to create a legal, valid, enforceable and continuing Lien on any
Collateral and, upon the filing of the appropriate financing statements listed on Schedule 6 to the Perfection Certificate or delivery to Agent (or its bailee) to be held in its possession all Collateral consisting of Instruments or negotiable
Documents, a perfected Lien in favor of Agent, for itself and the benefit of Secured Parties, on the Collateral with respect to which a Lien on such Collateral may be perfected by filing or possession pursuant to the Code subject to the effects of
bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally, general equitable principles (whether considered in a proceeding in equity or at law) and an
implied covenant of good faith and fair dealing. Such Lien is prior to all other Liens, except the Permitted Fist Priority Liens and Permitted Encumbrances that would be prior to Liens in favor of Agent for the benefit of Agent and Secured Parties
as a matter of law, and is enforceable as such against any and all creditors of and purchasers from each Grantor. Except as set forth in Sections 4(g) and 5(a)(viii) hereof, all action by each of the Grantors necessary or reasonably
advisable to protect and perfect such Lien on each item of the Collateral (other than insurance claims and money) has been duly taken; provided, that in the case of Intellectual Property, such actions have been taken to the extent that a
security interest in Intellectual Property can be perfected by (i) filing a financing statement under the Code or (ii) filing with, and acceptance thereof by, the United States Copyright Office or the United States Patent and Trademark
Office. No authorization, approval or consent is required to be obtained from any Governmental Authority or other Person for the grant of the security interest herein, the perfection thereof or the exercise by Agent or any other Secured Party of its
rights and remedies hereunder. 
 (d) Subject to Section 5(a)(viii), all actions by each Grantor necessary or reasonably advisable to
protect and perfect the Lien of Agent on each item set forth on Schedules 10, 11 and 15 to the Perfection Certificate (including (to the extent not delivered pursuant to the Pledge Agreement) the delivery of all originals thereof to Agent and the
legending of all Chattel Paper as required by Section 5(b) hereof) have been duly taken. 
 (e) Set forth on Schedule I hereto is
(i) offices and other premises where Inventory or Equipment is stored or located whether or not owned or leased by such Grantor, and (ii) the locations of each Grantor’s books and records concerning the Collateral, in each case as of
the date hereof. 
 (f) Subject to the limitations set forth in clause (c) above, the security interests granted pursuant to this
Agreement (i) will constitute valid and perfected security interests in the Collateral (as to which perfection may be obtained by the filings or other actions described in clause (A) or (B) of this paragraph in favor of Agent, for the
benefit of Secured Parties, as collateral security for the Obligations, upon (A) the filing of all financing statements, in each case, naming each Grantor as “debtor” and Agent as “secured party” and describing the
Collateral in the filing offices specified in Schedule 7 of the Perfection Certificate or (B) delivery to Agent (or its bailee) of all Instruments, Chattel Paper, certificated securities and negotiable Documents, in each case, properly endorsed
for transfer or in blank, and (ii) are prior to all other Liens on the Collateral other than the Permitted First Priority Liens and Permitted Liens. 
  

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 (g) None of the Grantors has any interest in, or title to, any Patent, Trademark or Copyright except as
set forth in Schedule 5.6 of the Credit Agreement. This Agreement is effective to create a valid and continuing Lien on and, upon filing of the Intellectual Property Security Agreements substantially in the form attached hereto as Exhibit A,
with the United States Copyright Office or the United States Patent and Trademark Office, as the case may be, and the filing of the financing statements listed on Schedule 6 to the Perfection Certificate hereto, perfected Liens in favor of Agent on
each Grantor’s registered Patents, Trademarks and Copyrights and such perfected Liens are enforceable as such as against any and all creditors of and purchasers from any Grantor. Upon filing of the Copyright Security Agreements with the United
States Copyright Office and filing of the Patent Security Agreements and the Trademark Security Agreements with the United State Patent and Trademark Office and the filing of appropriate financing statements listed on Schedule 6 to the Perfection
Certificate hereto, all action necessary or reasonably advisable to protect and perfect Agent’s Lien on each Grantor’s registered Patents, Trademarks or Copyrights shall have been duly taken. 
 (h) Substantially all Titled Collateral owned by each of the Grantors as of the date hereof is listed on Schedule II hereto, by model, model year
and to the extent listed on the Schedule, vehicle identification number. Also set forth on Schedule II is the location of the title certificates for each item of Titled Collateral listed on such Schedule II. Each Grantor shall after
the occurrence and during the continuance of an Event of Default, deliver to Agent title certificates for all Titled Collateral from time to time owned by it and shall cause those title certificates to be filed (with Agent’s Lien noted thereon)
in the appropriate state filing office. 
 (i) Notwithstanding anything herein to the contrary, prior to the Discharge of First Lien
Obligations, the requirements of this Agreement to deliver Collateral to the Agent shall be deemed satisfied by delivery of such Collateral to the Control Agent or the First Lien Agent. 
 5. Covenants. Without limiting any Grantor’s covenants and agreements contained in the Credit Agreement and the other Loan Documents, each
Grantor covenants and agrees with Agent, for the benefit of Agent and Secured Parties, that from and after the date of this Agreement and until the Termination Date. 
 (a) Further Assurances; Pledge of Instruments; Chattel Paper. 
 (i) At any time and
from time to time, upon the written request of Agent and at the sole expense of such Grantor, such Grantor shall promptly and duly execute and deliver any and all such further instruments and documents and take such further actions (including the
filing and recording of financing statements and other documents) as Agent may reasonably deem necessary or advisable to obtain the full benefits of this Agreement and of the rights and powers herein granted with respect to the Collateral, including
(A) using its commercially reasonable efforts to secure all consents and approvals necessary or appropriate for the assignment to or for the benefit of Agent of any Contractual Obligation held by such Grantor and to enforce the security
interests granted hereunder; 

  

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and (B) filing any financing or continuation statements under the Code in effect in any jurisdiction with respect to the Liens granted hereunder or
under any other Loan Document. 
 (ii) Unless such Collateral has been delivered pursuant to the Pledge Agreement, such
Grantor shall deliver to Agent all Collateral consisting of the following negotiable Documents, certificated Stock, Chattel Paper and Instruments (in each case, accompanied by stock powers, allonges or other instruments of transfer executed in
blank) promptly (and in any event within 20 Business Days) after such Grantor receives the same: (A) any negotiable Document or Instrument having a value in excess of $1,000,000, (B) any certificated Stock (other than certificated Stock of
Subsidiaries of such Grantor delivered to Agent pursuant to the Pledge Agreement) or (C) any Chattel Paper (other than Chattel Paper (I) the value of which, in the aggregate for all such Chattel Paper, does not exceed $1,000,000 or (II)
which evidences leases of Inventory for a period of time that is less than one month), and such Grantor will provide prompt written notice of receipt thereof to Agent. 
 (iii) [RESERVED]. 
 (iv) Such Grantor shall within twenty (20) Business Days after the later of (i) the Discharge of the First Lien Obligations and (ii) acquiring any Uncertificated Securities that are not credited to a Securities Account obtain
from each issuer of such Uncertificated Securities an acknowledgment of the pledge of such Uncertificated Securities to the Agent granting “control” (within the meaning of Section 8-106 of the Code) over such Uncertificated Securities
to the Agent and in a form that is reasonably satisfactory to the Agent. 
 (v) After the Discharge of the First Lien
Obligations, if such Grantor is or becomes the beneficiary of a letter of credit, such Grantor shall promptly, and in any event within twenty (20) Business Days after becoming a beneficiary, notify Agent thereof and, if an Event of Default has
occurred and is continuing, cause the issuer and/or confirmation bank to consent to the assignment of any Letter-of-Credit Rights to Agent and agree to direct all payments thereunder to a deposit account subject to a control agreement, all in form
and substance reasonably satisfactory to Agent. 
 (vi) At any time (A) upon Agent’s reasonable written request or
(B) unless Agent has otherwise consented in writing (which consent may be revoked), after an Event of Default has occurred and is continuing, such Grantor shall take all steps necessary to grant Agent control of all Electronic Chattel Paper in
accordance with the Code and all “transferable records” as defined in each of the Uniform Electronic Transactions Act and the Electronic Signatures in Global and National Commerce Act. 
 (vii) Such Grantor shall promptly, and in any event within twenty (20) Business Days after the same is acquired by it, notify Agent
of Commercial Tort Claims in excess of $2,000,000, individually or in the aggregate, acquired by it and unless otherwise consented by Agent, such Grantor shall enter into a supplement to this Agreement, granting to Agent a Lien in such Commercial
Tort Claim. Any supplement to Schedule  

  

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III delivered pursuant to this Section 5 (a)(vii) shall, after the receipt thereof by Agent, become part of Schedule III for all
purposes hereunder other than in respect of representations and warranties made prior to the date of such receipt. 
 (b) Asset
Dispositions. Except for Asset Dispositions of Collateral permitted pursuant to Section 3.7 the Credit Agreement, no Grantor shall sell, assign, transfer or otherwise dispose of to any Person (other than another Grantor) any Collateral in
its possession. 
 (c) Maintenance of Records. Such Grantor shall keep and maintain, at its own cost and expense, satisfactory and
complete records of the Collateral, including a record of any and all payments received and any and all credits granted with respect to the Collateral and all other dealings with the Collateral. Such Grantor shall mark its books and records
pertaining to the Collateral to evidence this Agreement and the Liens granted hereby. Upon (A) Agent’s reasonable written request or (B) unless Agent shall otherwise consent in writing (which consent may be revoked), the occurrence
and during the continuance of an Event of Default, such Chattel Paper (other than Chattel Paper the value of which, in the aggregate for all such Chattel Paper, does not exceed $1,000,000) and Instruments (other than Instruments the value of which,
in the aggregate for all such Instruments, does not exceed $1,000,000) shall be marked by Grantor with a legend, in form and substance satisfactory to Agent; provided that each Grantor shall be required to so mark each such Chattel Paper or
Instrument only to the extent that the same is in such Grantor’s possession. 
 (d) Covenants Regarding Patent, Trademark and
Copyright Collateral. 
 (i) In no event shall such Grantor, either directly or through any agent, employee, licensee or
designee, file an application for the registration of any Patent, Trademark or Copyright with the United States Patent and Trademark Office, the United States Copyright Office or any similar office or agency without giving Agent prior written notice
thereof, and, upon request of Agent, such Grantor shall execute and deliver any and all Patent Security Agreements, Copyright Security Agreements or Trademark Security Agreements as Agent may request to evidence Agent’s Lien on such Patent,
Trademark or Copyright, and the General Intangibles of Grantor relating thereto or represented thereby. 
 (ii) Such Grantor
shall take all actions necessary or reasonably requested by Agent to maintain and pursue (and not abandon) each application, to obtain the relevant registration and to maintain the registration of each of the Patents, Trademarks and Copyrights (now
or hereafter existing that is material to the conduct of any Grantor’s business or operations), including the filing of applications for renewal, affidavits of use, affidavits of noncontestability and opposition and interference and
cancellation proceedings, unless such Grantor shall determine that such Patent, Trademark or Copyright is not material to the conduct of its business or operations. 
 (iii) In the event that any of the Patent, Trademark or Copyright Collateral that is material to the conduct of any Grantor’s
business or operations is infringed upon, or misappropriated or diluted by a third party, each Grantor shall promptly notify Agent and, if applicable, comply with Section 5(a)(vii) of this Agreement. Such Grantor shall, 

  

 -10- 

 
unless it shall reasonably determine that such Patent, Trademark or Copyright Collateral is not material to the conduct of its business or operations,
promptly sue for infringement, misappropriation or dilution and to recover any and all damages for such infringement, misappropriation or dilution, and shall take such other actions as Agent shall deem appropriate under the circumstances to protect
such Patent, Trademark or Copyright Collateral. 
 (e) Notices. Such Grantor will advise Agent and Lenders promptly, in reasonable
detail, (i) of any Lien (other than Permitted Encumbrances) on or claim made or asserted against a material portion of the Collateral of which it has knowledge, which could reasonably be expected to have a material adverse effect on the
Collateral or the ability of Agent to exercise any of its remedies hereunder. 
 (f) Organizational/Collateral Location Changes; No
Reincorporation. Such Grantor will give Agent at least fifteen (15) days prior written notice of any change to the information set forth on Schedule I or Schedule 1 to the Perfection Certificate, as applicable to the extent needed to make
Schedule I or Schedule 1 to the Perfection Certificate up to date and accurate. Such grantor shall not affect any such change unless it has taken all steps necessary or reasonably required by the Agent to maintain continued perfection of the
Agent’s security interest in the Collateral with the same priority as prior to such change. Without limiting the prohibitions on mergers involving any Grantor as contained in the Credit Agreement, none of the Grantors shall reincorporate or
reorganize itself under the laws of any jurisdiction other than the jurisdiction in which it is incorporated or organized as of the date hereof without the prior written consent of Agent. 
 (g) Use of Collateral. Such Grantor will do nothing to impair the rights of Agent in any of the Collateral. Such Grantor will not use or permit
any Collateral to be used unlawfully or in violation of any provision of applicable law, or any insurance policy covering any of the Collateral. Without limiting the foregoing, such Grantor will not permit the production of Inventory (including
Parts Inventory and Rental Fleet and Equipment) in violation of any provision of the Fair Labor Standards Act and such Grantor will not adjust, settle or compromise the amount or payment of any Account, or release wholly or partly any Account Debtor
thereof or allow any credit or discount thereon (other than credits and discounts in the ordinary course of business). 
 (h) Federal and
State Claims. Such Grantor shall notify Agent promptly of any of the Collateral which constitutes a claim against the United States government or any instrumentality or agent thereof or any state thereof, the assignment of which claim is
restricted by federal law or state law as the case may be. Upon the request of Agent, such Grantor shall take such steps as may be reasonably necessary to comply with any applicable federal assignment of claims laws or other comparable laws.

 (i) Notwithstanding anything herein to the contrary, prior to the Discharge of First Lien Obligations, the requirements of this Agreement
to deliver Collateral to the Agent shall be deemed satisfied by delivery of such Collateral to the Control Agent or the First Lien Agent. 
  

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 6. Reserved. 
 7. Agent’s Appointment as Attorney-In-Fact. 
 (a) Each Grantor hereby appoints, which appointment
is irrevocable and coupled with an interest, effective upon and during the occurrence of an Event of Default and after the Discharge of the First Lien Obligations, Agent and any officer or agent thereof, with full power of substitution, as its true
and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of such Grantor and in the name of such Grantor or otherwise, for the purpose of carrying out the terms of this Agreement, to take any and all appropriate
action and to execute any and all documents and instruments which may be necessary or desirable to accomplish the purposes of this Agreement, and, without limiting the generality of the foregoing, each Grantor hereby gives Agent the power and right,
on behalf of such Grantor, either in Agent’s name or in the name of such Grantor or otherwise, without assent by such Grantor, to do any or all of the following, in each case after and during the occurrence of an Event of Default and after
written notice by Agent of its intent to do so: 
 (i) take possession of and endorse and collect any checks, drafts, notes,
acceptances or other instruments for the payment of moneys due under any Account or with respect to any other Collateral and file any claim or take any other action or proceeding in any court of law or equity or otherwise deemed appropriate by Agent
for the purpose of collecting any and all such moneys due under any Account or with respect to any other Collateral whenever payable; 
 (ii) pay or discharge taxes and Liens levied or placed on or threatened against the Collateral; 
 (iii) execute, in connection with any sale provided for in Section 8, any endorsements, assignments or other instruments of conveyance or transfer with respect to the Collateral; 
 (iv) obtain and adjust insurance maintained by such Grantor or paid to Agent; 
 (v) direct any party liable for any payment under any of the Collateral to make payment of any and all moneys due or to become due
thereunder directly to Agent or as Agent shall direct; 
 (vi) ask or demand for, collect and receive payment of and receipt
of, any and all moneys, claims and other amounts due or to become due at any time in respect of or arising out of any Collateral; 
 (vii) sign and endorse any invoices, freight or express bills, bills of lading, storage or warehouse receipts, drafts against debtors, assignments, verifications, notices and other documents in connection with any of the Collateral;

  

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 (viii) commence and prosecute any suits, actions or proceedings at law or in equity in
any court of competent jurisdiction to collect the Collateral or any portion thereof and to enforce any other right in respect of any Collateral; 
 (ix) defend any suit, action or proceeding brought against such Grantor with respect to any Collateral (with such Grantor’s consent (not to be unreasonably withheld or delayed) to the extent such action or its
resolution could materially affect such Grantor or any of its affiliates in any manner other than with respect to its continuing rights in such Collateral); 
 (x) settle, compromise or adjust any such suit, action or proceeding and, in connection therewith, give such discharges or releases as
Agent may deem appropriate (with such Grantor’s consent (not to be unreasonably withheld or delayed) to the extent such action or its resolution could materially affect such Grantor or any of its affiliates in any manner other than with respect
to its continuing rights in such Collateral); and 
 (xi) generally, sell, transfer, pledge and make any agreement with
respect to or otherwise deal with any of the Collateral as fully and completely as though Agent were the absolute owner thereof for all purposes, and do, at Agent’s option and such Grantor’s expense, at any time, or from time to time, all
acts and things that Agent deems necessary to protect, preserve or realize upon the Collateral and Agent’s and Secured Parties’ security interests therein and to effect the intent of this Agreement, all as fully and effectively as such
Grantor might do. 
 Anything in this Section 7(a) to the contrary notwithstanding, Agent agrees that it will not exercise any rights under the power of
attorney provided for in this Section 7(a) unless an Event of Default shall have occurred and be continuing. 
 (b) If any Grantor fails
to perform or comply with any of its agreements contained herein, Agent, at its option, but without any obligation so to do, may perform or comply, or otherwise cause performance or compliance, with such agreement. 
 (c) The expenses of Agent incurred in connection with actions undertaken as provided in this Section 7, together with interest thereon at a rate per
annum equal to the highest rate per annum at which interest would then be payable on any category of past due Base Rate Loans under the Credit Agreement, from the date of payment by Agent to the date reimbursed by the relevant Grantor, shall be
payable by such Grantor to Agent on demand. 
 (d) Each Grantor hereby ratifies all that said attorneys shall lawfully do or cause to be done
by virtue hereof. All powers, authorizations and agencies contained in this Agreement are coupled with an interest and are irrevocable until this Agreement is terminated and the security interests created hereby are released. 
 8. Remedies; Rights Upon Default. 
 (a) In addition to all other rights and remedies granted to it under this Agreement, the Credit Agreement, the other Loan Documents and under any other instrument or 

  

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agreement securing, evidencing or relating to any of the Obligations, if any Event of Default shall have occurred and be continuing and subject to the
Intercreditor Agreement, Agent may for the benefit of Secured Parties exercise all rights and remedies of a secured party in respect of the Collateral under the Code as enacted in any such jurisdiction in effect at that time. Without limiting the
generality of the foregoing, each Grantor expressly agrees that in any such event Agent, without demand of performance or other demand, advertisement or notice of any kind (except such notice as may be specifically required by law and the notice
specified below of time and place of public or private sale) to or upon any Grantor or any other Person (all and each of which demands, advertisements and notices are hereby expressly waived to the maximum extent permitted by the Code and other
applicable law), may forthwith (personally or through its agents or attorneys) enter upon the premises where any Collateral is located, without any obligation to pay rent, through self-help or otherwise, and may take possession of, collect, receive,
assemble, process, appropriate, remove and realize upon the Collateral, or any part thereof, and may forthwith sell, lease, license, assign, give an option or options to purchase, or otherwise dispose of and deliver said Collateral (or contract to
do so), or any part thereof, in one or more parcels at a public or private sale or sales, at any exchange at such prices as it may deem acceptable, for cash or on credit or for future delivery without assumption of any credit risk. To facilitate the
foregoing, Agent shall have the right to use each Grantor’s books and records, to obtain access to each Grantor’s data processing equipment, computer hardware and Software and the information contained therein in any manner which Agent
deems appropriate. Agent or any Secured Parties shall have the right upon any such public sale or sales and, to the extent permitted by law, upon any such private sale or sales, to purchase for the benefit of Agent and Secured Parties, the whole or
any part of said Collateral so sold, free of any right or equity of redemption, which equity of redemption each Grantor hereby releases. Such sales may be adjourned and continued from time to time or times as Agent deems necessary or advisable with
or without notice. Agent shall have the right to conduct such sales on each Grantor’s premises or at its offices or elsewhere as permitted by applicable law and shall have the right to use each Grantor’s premises without charge for such
time or times as Agent deems necessary or advisable. 
 Unless the Collateral is perishable or threatens to decline speedily in value or is
of a type customarily sold on a recognized market, Agent will give each Grantor reasonable notice of the time and place of any public sale thereof or of the time on or after which any private sale thereof is to be made. The requirement of reasonable
notice conclusively shall be met if such notice is mailed, certified mail, postage prepaid, to each Grantor at its address set forth on the signature pages hereto or delivered or otherwise sent to each Grantor, at least ten (10) days before the
date of the sale. Each Grantor expressly waives, to the fullest extent permitted by applicable law, any right to receive notice of any public or private sale of any Collateral or other security for the Obligations except as expressly provided for in
this paragraph. The Agent shall not be obligated to make any sale of the Collateral if it shall determine not to do so regardless of the fact that notice of sale of the Collateral may have been given. Agent may, without notice or publication, except
as required by applicable law, adjourn the sale from time to time by announcement at the time and place fixed for sale; and such sale may, without further notice (except as required by applicable law), be made at the time and place to which the same
was so adjourned. Notwithstanding any such notice of sale, Agent shall not be obligated to make any sale of Collateral. 
  

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 If any Event of Default shall have occurred and be continuing, each Grantor further agrees, at
Agent’s request, to assemble the Collateral and make it available to Agent at a place or places designated by Agent which are reasonably convenient to Agent and such Grantor, whether at such Grantor’s premises or elsewhere. Without
limiting the foregoing, Agent shall also have the right to require that each Grantor store and keep any Collateral pending further action by Agent, and while Collateral is so stored or kept, provide such guards and maintenance services as shall be
necessary to protect the same and to preserve and maintain Collateral in good condition. Until Agent is able to effect a sale, lease, license or other disposition of Collateral, Agent shall have the right to hold or use Collateral, or any part
thereof, to the extent that it deems appropriate for the purpose of preserving Collateral or its value or for any other purpose deemed appropriate by Agent. Agent shall not have any obligation to any Grantor to maintain or preserve the rights of any
Grantor as against third parties with respect to Collateral while Collateral is in the possession of Agent. Agent may, if it so elects, seek the appointment of a receiver or keeper to take possession of Collateral and to enforce any of Agent’s
remedies (for the benefit of Agent and Secured Parties), with respect to such appointment without prior notice or hearing as to such appointment. Agent shall apply the net proceeds of any sale, lease, license, other disposition of, or any
collection, recovery, receipt, or realization on, the Collateral to the Obligations as provided in the Credit Agreement, and only after so paying over such net proceeds, and after the payment by Agent of any other amount required by any provision of
law, need Agent account for the surplus, if any, to any Grantor. To the maximum extent permitted by applicable law, each Grantor waives all claims, damages, and demands against Agent or any Secured Parties arising out of the repossession, retention
or sale of the Collateral, except such as arise solely out of the gross negligence or willful misconduct of Agent or such Secured Party as finally determined by a court of competent jurisdiction. In connection with any sale, lease, license or other
disposition of Collateral, Agent may disclaim any warranties that might arise in connection therewith and Agent shall have no obligation to provide any warranties at such time. Each Grantor shall remain liable for any deficiency if the proceeds of
any sale or disposition of the Collateral are insufficient to pay all Obligations or to cover reasonable and documented costs and expenses of such sale or disposition. 
 (b) To the extent that applicable law imposes duties on Agent to exercise remedies in a commercially reasonable manner, each Grantor acknowledges and agrees that it is not commercially unreasonable for Agent
(i) to fail to incur expenses reasonably deemed significant by Agent to prepare Collateral for disposition or otherwise to complete raw material or work in process into finished goods or other finished products for disposition, (ii) to
fail to obtain third party consents for access to Collateral to be disposed of, or to obtain or, if not required by other law, to fail to obtain governmental or third party consents for the collection or disposition of Collateral to be collected or
disposed of, (iii) to fail to exercise collection remedies against Account Debtors or other Persons obligated on Collateral or to remove Liens on or any adverse claims against Collateral, (iv) to exercise collection remedies against
Account Debtors and other Persons obligated on Collateral directly or through the use of collection agencies and other collection specialists, (v) to advertise dispositions of Collateral through publications or media of general circulation,
whether or not the Collateral is of a specialized nature, (vi) to contact other Persons, whether or not in the same business as any Grantor, for expressions of interest in acquiring all or any portion of such Collateral, (vii) to hire one
or more professional auctioneers to assist in the disposition of Collateral, whether or not the Collateral is of a specialized nature, (viii) to dispose 

  

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of Collateral by utilizing internet sites that provide for the auction of assets of the types included in Collateral or that have the reasonable capacity of
doing so, or that match buyers and sellers of assets, (ix) to dispose of assets in wholesale rather than retail markets, (x) to disclaim disposition warranties, such as title, possession or quiet enjoyment, (xi) to purchase insurance
or credit enhancements to insure Agent against risks of loss, collection or disposition of Collateral or to provide to Agent a guaranteed return from the collection or disposition of Collateral, or (xii) to the extent deemed appropriate by
Agent, to obtain the services of other brokers, investment bankers, consultants and other professionals to assist Agent in the collection or disposition of any of the Collateral. Each Grantor acknowledges that the purpose of this
Section 8(b) is to provide non-exhaustive indications of what actions or omissions by Agent would not be commercially unreasonable in the Agent’s exercise of remedies against the Collateral and that other actions or omissions by
Agent shall not be deemed commercially unreasonable solely on account of not being indicated in this Section 8(b). Without limitation upon the foregoing, nothing contained in this Section 8(b) shall be construed to grant any
rights to any Grantor or to impose any duties on Agent that would not have been granted or imposed by this Agreement or by applicable law in the absence of this Section 8(b). 
 (c) Neither Agent nor any Secured Parties shall be required to make any demand upon, or pursue or exhaust any of their rights or remedies against, any
Grantor, any other obligor, guarantor, pledgor or any other Person with respect to the payment of the Obligations or to pursue or exhaust any of their rights or remedies with respect to any Collateral therefor or any direct or indirect guarantee
thereof. Neither Agent nor any Secured Parties shall be required to marshal the Collateral or any guarantee of the Obligations or to resort to the Collateral or any such guarantee in any particular order, and all of its and their rights hereunder or
under any other Loan Document shall be cumulative. To the extent it may lawfully do so, each Grantor absolutely and irrevocably waives and relinquishes the benefit and advantage of, and covenants not to assert against Agent or any Secured Parties,
any valuation, stay, appraisement, extension, redemption or similar laws and any and all rights or defenses it may have as a surety now or hereafter existing which, but for this provision, might be applicable to the sale of any Collateral made under
the judgment, order or decree of any court, or privately under the power of sale conferred by this Agreement, or otherwise. 
 (d) All
actions allowed to be taken pursuant to this Section 8 or otherwise pursuant to this Agreement shall only be allowed if permitted pursuant to the Intercreditor Agreement. 
 9. Grant of License to Use Property. For the purpose of enabling Agent to exercise rights and remedies under Section 8 hereof
(including, without limiting the terms of Section 8 hereof, in order to take possession of, collect, receive, assemble, process, appropriate, remove, realize upon, sell, lease, license, assign, give an option or options to purchase or
otherwise dispose of Collateral) at such time as Agent shall be lawfully entitled to exercise such rights and remedies, each Grantor hereby grants to Agent, for the benefit of Agent and Secured Parties, an irrevocable, nonexclusive license
(exercisable without payment of royalty or other compensation to such Grantor) to use, license or sublicense any Intellectual Property now owned or hereafter acquired by such Grantor, and wherever the same may be located, and including in such
license access to all media in which any of the licensed items may be recorded or stored and 

  

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to all Software and programs used for the compilation or printout thereof and an irrevocable license (exercisable without payment of rent or other
compensation to such Grantor) to use and occupy all real estate owned or leased by such Grantor. 
 10. Limitation on Agent’s and
Secured Parties’ Duty in Respect of Collateral. Agent’s sole duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the UCC or otherwise, shall be to
deal with it in the same manner as Agent deals with similar property for its own account. Agent and each Secured Party shall use reasonable care with respect to the Collateral in its possession or under its control. Neither Agent nor any Secured
Parties shall have any other duty as to any Collateral in its possession or control or in the possession or control of any agent or nominee of Agent or such Secured Party, or any income thereon or as to the preservation of rights against prior
parties or any other rights pertaining thereto. Agent shall be deemed to have exercised reasonable care in the custody and preservation the Collateral in its possession if the Collateral is accorded treatment substantially equal to that which it
accords its own property. Agent shall not be liable or responsible for any loss or damage to any of the Collateral, or for any diminution in the value thereof, by reason of the act or omission of any warehousemen, carrier, forwarding agency,
consignee or other agent or bailee selected by Agent in good faith. The powers conferred on Agent and Secured Parties hereunder are solely to protect Agent’s and Secured Parties’ interests in the Collateral and shall not impose any duty
upon Agent or any Secured Party to exercise any such powers. Agent and Secured Parties shall be accountable only for amounts that they actually receive as a result of the exercise of such powers, and neither they nor any of their officers,
directors, employees or agents shall be responsible to any Grantor for any act or failure to act hereunder, except for their own gross negligence or willful misconduct. 
 11. Reinstatement. This Agreement shall remain in full force and effect and continue to be effective should any petition be filed by or against any Grantor for liquidation or reorganization, should any Grantor
become insolvent or make an assignment for the benefit of any creditor or creditors or should a receiver or trustee be appointed for all or any significant part of any Grantor’s assets, and shall continue to be effective or be reinstated, as
the case may be, if at any time payment and performance of the Obligations, or any part thereof, is, pursuant to applicable law, rescinded or reduced in amount, or must otherwise be restored or returned by any obligee of the Obligations, whether as
a “voidable preference,” “fraudulent conveyance,” or otherwise, all as though such payment or performance had not been made. In the event that any payment, or any part thereof, is rescinded, reduced, restored or returned, the
Obligations shall be reinstated and deemed reduced only by such amount paid and not so rescinded, reduced, restored or returned. 
 12.
Expenses and Attorneys Fees. Without limiting any Grantor’s obligations under the Credit Agreement or the other Loan Documents, each Grantor agrees to promptly pay all reasonable fees, costs and expenses (including reasonable
attorneys’ fees and expenses incurred in connection with (a) protecting, storing, warehousing, appraising, insuring, handling, maintaining and shipping the Collateral, (b) creating, perfecting, maintaining and enforcing Agent’s
Liens and (c) collecting, enforcing, retaking, holding, preparing for disposition, processing and disposing of Collateral. 
  

 -17- 

 13. Authorized Terminations. (a) Such Grantor shall automatically be released from its
obligations hereunder and the security interest in the Collateral of such Grantor shall be automatically released upon the consummation of any transaction permitted under the Credit Agreement as a result of which such Grantor ceases to be a
Guarantor. 
 (b) Upon any sale or other transfer by any Grantor (other than any sale or transfer to another Grantor) of any Collateral that
is permitted under the Credit Agreement or upon the effectiveness of any written consent to the release of the security interest granted hereby in any Collateral pursuant to Section 9.2 of the Credit Agreement, the security interest in such
Collateral shall be automatically released and such Collateral sold free and clear of the Lien and security interests created hereby. 
 (c)
Following the Termination Date or the release pursuant to clause (a) or (b) above, Agent shall promptly, at the expense of the relevant Grantor or Parent Borrower, execute and deliver to such Grantor all documents that such Grantor shall
reasonably request to evidence such termination or release, including authorization to file termination statements and releases in accordance with Section 9-513(c) of the Code. Any execution and delivery of documents pursuant to this
Section 13 shall be without recourse to or warranty by Agent. 
 14. Notices. Except as otherwise provided herein, whenever it is
provided herein that any notice, demand, request, consent, approval, declaration or other communication shall or may be given to or served upon any of the parties by any other party, or whenever any of the parties desires to give and serve upon any
other party any communication with respect to this Agreement, each such notice, demand, request, consent, approval, declaration or other communication shall be in writing and shall be given in the manner, and deemed received, as provided for in the
Credit Agreement. 
 15. Limitation by Law. All rights, remedies and powers provided in this Agreement may be exercised only to the
extent that the exercise thereof does not violate any applicable provision of law, and all the provisions of this Agreement are intended to be subject to all applicable mandatory provisions of law that may be controlling, and to be limited to the
extent necessary so that they shall not render this Agreement invalid, unenforceable or not entitled to be recorded, registered or filed under the provisions of any applicable law, in each case in whole or in part. 
 16. Termination of this Agreement. Subject to Section 11 hereof, this Agreement shall terminate upon the Termination Date. 
 17. Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors
and assigns, except that no Grantor may assign any of its rights or obligations hereunder without the written consent of Agent. No sales of participations, other sales, assignments, transfers or other dispositions of any agreement governing or
instrument evidencing the Obligations or any portion thereof or interest therein shall in any manner impair the Lien granted to Agent, for the benefit of Agent and Secured Parties, hereunder. 
  

 -18- 

 18. Counterparts. This Agreement and any amendments, waivers, consents or supplements may be
executed by one or more of the parties to this Agreement in any number of counterparts, each of which when so executed and delivered shall be deemed an original, but all of which counterparts taken together shall constitute one and the same
instrument. This Agreement shall become effective upon the execution of a counterpart hereof by each of the parties hereto. This Agreement may be authenticated by manual signature, facsimile or, if approved in writing by Agent, electronic means, all
of which shall be equally valid. 
 19. Applicable Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 20. Additional Grantors. If, pursuant to Section 2.8(c) of the Credit
Agreement, the Parent Borrower shall be required to cause any Subsidiary that is not a Grantor to become a Grantor hereunder, such Subsidiary shall execute and deliver to Agent a Joinder Agreement substantially in the form of Exhibit A to the Credit
Agreement and shall thereafter for all purposes be a party hereto and have the same rights, benefits and obligations as a Grantor party hereto on the date hereof. 
 21. Headings. Section headings are included herein for convenience of reference only and shall not constitute a part of this Agreement for any other purposes or be given substantive effect. 
 22. Benefit of Secured Parties. This Agreement secures the payment of all Obligations. Without limiting the generality of the foregoing, this
Agreement secures the payment of all amounts that constitute part of the Obligations and would be owed to Agent or Secured Parties under the Loan Documents but for the fact that they are unenforceable or not allowable due to the existence of a
bankruptcy, reorganization or similar proceeding involving any Grantor. 
 [Remainder of Page Intentionally Left Blank] 
  

 -19- 

 IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be executed and delivered by
its duly authorized officer as of the date first set forth above. 
  

			
	GRANTORS
	
	NEFF CORP.
		
	By:	 	 /s/ Mark Irion

	Name:	 	Mark Irion
	Title:	 	Chief Financial Officer
	
	 LYN HOLDINGS CORP.,
 NEFF
RENTAL, INC.,
 NEFF RENTAL LLC,
 NEFF FINANCE
CORP.

		
	By:	 	 /s/ Mark Irion

	Name:	 	Mark Irion
	Title:	 	Chief Financial Officer

 [Signature Page to Second Lien Security Agreement] 

			
	Acknowledged and Agreed
	
	BANK OF AMERICA, N.A., as Agent
		
	By:	 	 /s/ Mollie S. Canup

	Name:	 	Mollie S. Canup
	Title:	 	Vice President

  

 [Signature Page to Security Agreement–Second Lien]

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