Document:

Exhibit 10.29

 

EXECUTION VERSION

 

 

 

TERM LOAN AGREEMENT

dated as of December 6, 2018

 

among

CONCRETE PUMPING HOLDINGS ACQUISITION CORP.

(to be renamed Concrete Pumping Holdings,
Inc. upon the Merger),

as Holdings,

 

CONCRETE PUMPING INTERMEDIATE ACQUISITION
CORP.,

as Intermediate Holdings,

CONCRETE PUMPING MERGER SUB, INC.

(to be merged with and into Concrete Pumping Holdings, Inc., which is

to be renamed Brundage-Bone Concrete Pumping
Holdings Inc. upon consummation of the Merger),

as the Borrower,

THE FINANCIAL INSTITUTIONS PARTY HERETO,

as Lenders,

and

CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH,

as Administrative Agent

 

 

CREDIT SUISSE LOAN FUNDING LLC,

JEFFERIES FINANCE LLC

and

STIFEL NICOLAUS & COMPANY INCORPORATED LLC

as Joint Lead Arrangers and Joint Bookrunners

 

 

 

 

 

 

      

     

    

 

TABLE OF CONTENTS

 

 

  

	 	 	Page
	 	 	 
	 	Article 1	 
	DEFINITIONS	 	1
	 	 	 
	Section 1.01	Defined Terms	1
	Section 1.02	Classification of Loans and Borrowings	58
	Section 1.03	Terms Generally	58
	Section 1.04	Accounting Terms; GAAP	59
	Section 1.05	Effectuation of Transactions	59
	Section 1.06	Timing of Payment of Performance	60
	Section 1.07	Times of Day	60
	Section 1.08	Currency Equivalents Generally	60
	Section 1.09	Cashless Rollovers	61
	Section 1.10	Certain Calculations and Tests	61
	Section 1.11	Division of Limited Liability Company	63
	 	 	 
	 	Article 2	 
	THE CREDITS	63
	 	 	 
	Section 2.01	Commitments	63
	Section 2.02	Loans and Borrowings	63
	Section 2.03	Requests for Borrowings	64
	Section 2.04	Funding of Borrowings	64
	Section 2.05	Type; Interest Elections	65
	Section 2.06	Automatic Termination and Reduction of Commitments	66
	Section 2.07	Repayment of Loans; Evidence of Debt	66
	Section 2.08	Prepayment of Loans	67
	Section 2.09	Fees	72
	Section 2.10	Interest	73
	Section 2.11	Alternate Rate of Interest	73
	Section 2.12	Increased Costs	74
	Section 2.13	Break Funding Payments	76
	Section 2.14	Taxes	76
	Section 2.15	Payments Generally; Allocation of Proceeds; Sharing of Payments	80
	Section 2.16	Mitigation Obligations; Replacement of Lenders	82
	Section 2.17	Illegality	84
	Section 2.18	Defaulting Lenders	84
	Section 2.19	Incremental Credit Extensions	84
	Section 2.20	Extensions of Loans	87
	 	 	 
	 	Article 3	 
	REPRESENTATIONS AND WARRANTIES	89
	 	 	 
	Section 3.01	Organization; Powers	89

 

    	 	i 	 

     

    

 

	Section 3.02	Authorization; Enforceability	89
	Section 3.03	Governmental Approvals; No Conflicts	90
	Section 3.04	Financial Condition; No Material Adverse Effect	90
	Section 3.05	Properties	90
	Section 3.06	Litigation and Environmental Matters	91
	Section 3.07	Compliance with Laws	91
	Section 3.08	Investment Company Status	91
	Section 3.09	Taxes	91
	Section 3.10	ERISA	92
	Section 3.11	Disclosure	92
	Section 3.12	Security Interest in Collateral	92
	Section 3.13	Labor Disputes	93
	Section 3.14	Federal Reserve Regulations	93
	Section 3.15	Sanctions; Anti-Corruption Laws	93
	Section 3.16	Solvency	93
	Section 3.17	Capitalization and Subsidiaries	94
	 	 	 
	 	Article 4	 
	CONDITIONS	94
	 	 	 
	Section 4.01	Closing Date	94
	 	 	 
	 	Article 5	 
	AFFIRMATIVE COVENANTS	98
	 	 	 
	Section 5.01	Financial Statements and Other Reports	98
	Section 5.02	Existence	101
	Section 5.03	Payment of Taxes	101
	Section 5.04	Maintenance of Properties	102
	Section 5.05	Insurance	102
	Section 5.06	Inspections	102
	Section 5.07	Maintenance of Book and Records	103
	Section 5.08	Compliance with Laws	103
	Section 5.09	Environmental	103
	Section 5.10	Designation of Subsidiaries	105
	Section 5.11	Use of Proceeds	105
	Section 5.12	Covenant to Guarantee Obligations and Give Security	105
	Section 5.13	Maintenance of Ratings	107
	Section 5.14	Further Assurances	107
	Section 5.15	Lender Calls	108
	Section 5.16	Post-Closing Obligations	108
	 	 	 
	 	Article 6	 
	NEGATIVE COVENANTS	108
	 	 	 
	Section 6.01	Indebtedness	108
	Section 6.02	Liens	113

 

    	 	ii 	 

     

    

 

	Section 6.03	No Further Negative Pledges; Burdensome Agreements	116
	Section 6.04	Restricted Payments; Restricted Debt Payments	118
	Section 6.05	Restrictions on Subsidiary Distributions	121
	Section 6.06	Investments	123
	Section 6.07	Fundamental Changes; Disposition of Assets	126
	Section 6.08	Transactions with Affiliates	129
	Section 6.09	Amendments or Waivers of Organizational Documents	131
	Section 6.10	Amendments of or Waivers with Respect to Restricted Debt	131
	Section 6.11	Permitted Activities of Holdings and Intermediate Holdings	131
	Section 6.12	[Reserved]	133
	Section 6.13	Conduct of Business	133
	 	 	 
	 	Article 7	 
	EVENTS OF DEFAULT	133
	 	 	 
	Section 7.01	Events of Default	133
	 	 	 
	 	Article 8	 
	THE ADMINISTRATIVE AGENT	136
	 	 	 
	 	Article 9	 
	MISCELLANEOUS	145
	 	 	 
	Section 9.01	Notices	145
	Section 9.02	Waivers; Amendments	146
	Section 9.03	Expenses; Indemnity	151
	Section 9.04	Waiver of Claim	152
	Section 9.05	Successors and Assigns	153
	Section 9.06	Survival	161
	Section 9.07	Counterparts; Integration; Effectiveness	161
	Section 9.08	Severability	162
	Section 9.09	Right of Setoff	162
	Section 9.10	Governing Law; Jurisdiction; Consent to Service of Process	162
	Section 9.11	Waiver of Jury Trial	164
	Section 9.12	Headings	164
	Section 9.13	Confidentiality	165
	Section 9.14	No Fiduciary Duty	166
	Section 9.15	Several Obligations	166
	Section 9.16	USA PATRIOT Act	166
	Section 9.17	Disclosure of Agent Conflicts	166
	Section 9.18	Appointment for Perfection	166
	Section 9.19	Interest Rate Limitation	166
	Section 9.20	Conflicts	167
	Section 9.21	Release of Guarantors	167
	Section 9.22	Intercreditor Agreement	167
	Section 9.23	Acknowledgement and Consent to Bail-In of EEA Financial Institutions	168

 

    	 	iii 	 

     

    

 

	SCHEDULES:	 	 
	 	 	 
	Schedule 1.01(a)	–	Commitment Schedule
	Schedule 1.01(b)	 	Dutch Auction
	Schedule 1.01(c)	–	Material Real Estate Assets
	Schedule 3.17	–	Capitalization and Subsidiaries
	Schedule 5.15	–	Post-Closing Requirements
	Schedule 6.01	–	Existing Indebtedness
	Schedule 6.02	–	Existing Liens
	Schedule 6.06	–	Existing Investments
	Schedule 6.07(v)	–	Contemplated Dispositions
	Schedule 6.08	–	Transactions with Affiliates
	Schedule 9.01	–	Borrower’s Website Address for Electronic Delivery
	 	 	 
	EXHIBITS:	 	 
	 	 	 
	Exhibit A-1	–	Form of Assignment and Assumption
	Exhibit A-2	–	Form of Affiliated Lender Assignment and Assumption
	Exhibit B	–	Form of Borrowing Request
	Exhibit C	–	Form of Compliance Certificate
	Exhibit D	–	Form of Interest Election Request
	Exhibit E	–	Form of Perfection Certificate
	Exhibit F	–	Form of Perfection Certificate Supplement
	Exhibit G	–	Form of Promissory Note
	Exhibit H	–	Form of Intellectual Property Security Agreement
	Exhibit I	–	Form of Guaranty Agreement
	Exhibit J	–	Form of Security Agreement
	Exhibit K-1	–	Form of U.S. Tax Compliance Certificate (For Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes)
	Exhibit K-2	–	Form of U.S. Tax Compliance Certificate (For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes)
	Exhibit K-3	–	Form of U.S. Tax Compliance Certificate (For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes)
	Exhibit K-4	–	Form of U.S. Tax Compliance Certificate (For Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes)
	Exhibit L	–	Form of Solvency Certificate
	Exhibit M	–	Form of Intercreditor Agreement
	Exhibit N	–	Form of Intercompany Indebtedness Subordination Agreement

 

    	 	iv 	 

     

    

 

TERM LOAN AGREEMENT

 

TERM LOAN AGREEMENT,
dated as of December 6, 2018 (this “Agreement”), by and among Concrete Pumping Holdings Acquisition Corp., a
Delaware corporation (to be renamed Concrete Pumping Holdings, Inc. upon consummation of the Merger) (“Holdings”),
Concrete Pumping Intermediate Acquisition Corp., a Delaware corporation (“Intermediate Holdings”), Concrete
Pumping Merger Sub Inc., a Delaware corporation (“Merger Sub”), which upon the effectiveness of the Merger will
be merged with and into the existing Concrete Pumping Holdings, Inc., a Delaware corporation (to be renamed Brundage-Bone Concrete
Pumping Holdings Inc. upon consummation of the Merger) (the “Target”), the Lenders (as defined below) from time
to time party hereto and Credit Suisse AG, Cayman Islands Branch (“Credit Suisse”), as administrative agent
and collateral agent for the Lenders (in its capacity as administrative and collateral agent, the “Administrative Agent”).

 

RECITALS

 

A.           Pursuant
to the terms of the Acquisition Agreement, on the Closing Date, Merger Sub, a wholly-owned subsidiary of Intermediate Holdings,
will merge (the “Merger”) with and into the Target, with the Target as the survivor of the Merger.

 

B.           To
fund a portion of the consideration for the Acquisition, the Borrower (a) has requested that the Lenders extend Initial Term
Loans under this Agreement on the Closing Date in an original aggregate principal amount equal to $357,000,000 and (b) intends
to enter into an asset-based credit facility under the ABL Credit Agreement in an aggregate principal amount of $60,000,000, subject
to increase as provided therein.

 

C.           The
Lenders are willing to extend such credit to the Borrower on the terms and subject to the conditions set forth herein. Accordingly,
the parties hereto agree as follows:

 

Article
1

DEFINITIONS

 

Section 1.01          Defined
Terms. As used in this Agreement, the following terms have the meanings specified below:

 

“ABL Agent”
means the administrative agent under the ABL Facility.

 

“ABL Credit
Agreement” means the revolving Credit Agreement, dated as of December 6, 2018, among, inter alios, Holdings, Intermediat
Holdings, the Borrower and Wells Fargo Bank, National Association, as administrative agent, and the lenders from time to time party
thereto, as the same may be amended, amended and restated, modified, replaced or refinanced as permitted under the Intercreditor
Agreement.

 

“ABL Facility”
means the asset-based revolving credit facility governed by the ABL Credit Agreement.

 

“ABL Facility
Priority Collateral” has the meaning set forth in the Intercreditor Agreement.

 

    	 	1 	 

     

    

 

“ABR”,
when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, bear interest
at a rate determined by reference to the Alternate Base Rate.

 

“Acceptable
Intercreditor Agreement” means the Intercreditor Agreement or another intercreditor agreement that is reasonably satisfactory
to the Administrative Agent and the Borrower.

 

“ACH”
means automated clearing house transfers.

 

“Acquisition”
means the Merger and the other transactions contemplated by the Acquisition Agreement.

 

“Acquisition
Agreement” means that certain Agreement and Plan of Merger, dated as of September 7, 2018, by and among, inter alios,
Holdings, Buyer, Intermediate Holdings, Merger Sub, Industrea Acquisition Merger Sub Inc. and the Target, including all annexes,
exhibits and schedules thereto, as the same may be amended, supplemented or otherwise modified from time to time, but without giving
effect to any amendment, waiver or consent by Holdings, Intermediate Holdings or Merger Sub that is materially adverse to the interests
of the Arrangers or the Initial Lenders in their respective capacities as such without the consent of the Arrangers (such consent
not to be unreasonably withheld, delayed or conditioned).

 

“Additional
Agreement” has the meaning assigned to such term in Article 8.

 

“Additional
Lender” has the meaning assigned to such term in Section 2.19(b).

 

“Additional
Term Lender” mean any Lender with an Additional Term Loan Commitment or an outstanding Additional Term Loan.

 

“Additional
Term Loan Commitments” means any term commitment added pursuant to Section 2.19, 2.20 and/or 9.02(c).

 

“Additional
Term Loans” means any term loan added pursuant to Section 2.19, 2.20 and/or 9.02(c)(i).

 

“Adjusted
Eurodollar Rate” means, with respect to any Eurodollar Rate Borrowing for any Interest Period, an interest rate per annum
equal to the greater of (i) the Eurodollar Rate determined under clause (a) of the definition of “Eurodollar Rate”
for such Interest Period, multiplied by the Statutory Reserve Rate and (ii) 0.00% per annum. The Adjusted Eurodollar Rate for any
Eurodollar Rate Borrowing that includes the Statutory Reserve Rate as a component of the calculation will be adjusted automatically
with respect to all such Eurodollar Rate Borrowings then outstanding as of the effective date of any change in the Statutory Reserve
Rate.

 

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

 

“Administrative
Questionnaire” has the meaning assigned to such term in Section 2.19(d).

 

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

 

    	 	2 	 

     

    

 

“Affiliate”
means, as applied to any Person, any other Person directly or indirectly Controlling, Controlled by, or under common Control with,
that Person. None of the Administrative Agent, the Arrangers, any Lender (other than any Affiliated Lender) or any of their respective
Affiliates shall be considered an Affiliate of Holdings or any subsidiary thereof. For purposes of this Agreement and the other
Loan Documents, Jefferies LLC and its Affiliates shall be deemed to be Affiliates of Jefferies Finance LLC and its Affiliates.

 

“Affiliated
Lender” means the Sponsor or any Affiliate thereof (other than Holdings, Intermediate Holdings, the Borrower and any
subsidiary of the Borrower or any Debt Fund Affiliate).

 

“Affiliated
Lender Assignment and Assumption” means an assignment and assumption entered into by a Lender and an Affiliated Lender
(with the consent of any party whose consent is required by Section 9.05) and accepted by the Administrative Agent in the
form of Exhibit A-2 or any other form approved by the Administrative Agent and the Borrower.

 

“Affiliated
Lender Cap” has the meaning assigned to such term in Section 9.05(g)(iv).

 

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

 

“AHYDO Payment”
means any payment or redemption of Indebtedness to avoid the application of Section 163(e)(5) of the Code or that are necessary
to prevent any such Indebtedness from being treated as an “applicable high yield discount obligation” within the meaning
of Section 163(i)(1) of the Code.

 

“Alternate
Base Rate” means, for any day, a rate per annum equal to the highest of (a) the Federal Funds Effective Rate in
effect on such day plus 0.50%, (b)  the Eurodollar Rate (as determined under clause (b) of the definition of
“Eurodollar Rate”) plus 1.00%, (c) the Prime Rate and (d) 1.00%. Any change in the Alternate Base Rate
due to a change in the Prime Rate, the Federal Funds Effective Rate or the Eurodollar Rate, as the case may be, shall be effective
from and including the effective date of such change in the Prime Rate, the Federal Funds Effective Rate or the Eurodollar Rate,
as the case may be.

 

“Anti-Corruption
Laws” has the meaning assigned to such term in Section 3.15(b).

 

“Applicable
Percentage” means, with respect to any Term Lender of any Class, a percentage equal to a fraction the numerator of which
is the aggregate outstanding principal amount of the Term Loans and unused Additional Term Loan Commitments of such Term Lender
under the applicable Class and the denominator of which is the aggregate outstanding principal amount of the Term Loans and unused
Term Commitments of all Term Lenders under the applicable Class.

 

“Applicable
Rate” means, for any day, with respect to an Initial Term Loan, a percentage per annum equal to 5.00% for ABR Loans and
6.00% for Eurodollar Rate Term Loans.

 

    	 	3 	 

     

    

 

“Approved
Fund” means, with respect to any Lender, any Person (other than a natural Person or a holding company, investment vehicle
or trust for, or owned and operated for the primary benefit of, a natural Person) that is engaged in making, purchasing, holding
or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its activities and is administered,
advised or managed by (a) such Lender, (b) any Affiliate of such Lender or (c) any entity or any Affiliate of any
entity that administers, advises or manages such Lender.

 

“Arrangers”
means Credit Suisse Loan Funding LLC, Jefferies Finance LLC and Stifel Nicolaus & Company Incorporated.

 

“Assignment
and Assumption” means an assignment and assumption entered into by a Lender and an assignee (with the consent of any
party whose consent is required by Section 9.05), and accepted by the Administrative Agent in the form of Exhibit A-1
or any other form approved by the Administrative Agent and the Borrower.

 

“Available
Amount” means, at any time, an amount equal to, without duplication:

 

(a)          the
sum of:

 

(i)           the
greater of $10,000,000 and 12% of Consolidated Adjusted EBITDA for the most recently ended Test Period; plus

 

(ii)          the
Retained Excess Cash Flow Amount; plus

 

(iii)         the
amount of any capital contribution or the proceeds of any issuance of Capital Stock (other than any amounts (x) constituting an
Available Excluded Contribution Amount or proceeds of an issuance of Disqualified Capital Stock, (y) received from the Borrower
or any Restricted Subsidiary or (z) otherwise applied to make Restricted Payments pursuant to Section 6.04(a)(ii)(B) or
Restricted Debt Payments pursuant to Section 6.04(b)(iii)) received in cash and Cash Equivalents (up to fair market value)
by the Borrower, from and including the day immediately following the Closing Date; plus

 

(iv)         the
net proceeds of any Indebtedness or Disqualified Capital Stock received in Cash and Cash Equivalents (up to fair market value),
in each case, of the Borrower or any of its Restricted Subsidiaries issued after the Closing Date (other than Indebtedness or such
Disqualified Capital Stock issued to the Borrower or any of its Restricted Subsidiaries), which has been converted into or exchanged
for Capital Stock of the Borrower or any Parent Company that does not constitute Disqualified Capital Stock, in each case, during
the period from and including the day immediately following the Closing Date through and including such time; plus

 

(v)          the
net proceeds received in cash and Cash Equivalents (up to fair market value) by the Borrower or any Restricted Subsidiary during
the period from and including the day immediately following the Closing Date through and including such time in connection with
the Disposition to any Person (other than the Borrower or any Restricted Subsidiary) of any Investment made pursuant to Section
6.06(q)(i) (in an amount not to exceed the original amount of such Investment); plus

 

    	 	4 	 

     

    

 

(vi)         to
the extent not already reflected as a return of capital with respect to such Investment for purposes of determining the amount
of such Investment, the proceeds received in cash and Cash Equivalents (up to fair market value) by the Borrower of any of its
Restricted Subsidiaries during the period from and including the day immediately following the Closing Date through and including
such time in connection with cash returns, cash profits, cash distributions and similar cash amounts, including cash principal
repayments of loans, in each case received in respect of any Investment made after the Closing Date pursuant to Section 6.06(q)(i)
(in an amount not to exceed the original amount of such Investment); plus

 

(vii)        without
duplication, (A) the amount of any Investments by the Borrower or any Restricted Subsidiary pursuant to Section 6.06(q)(i)
in any Unrestricted Subsidiary (in an amount not to exceed the original amount of such Investment) that has been re-designated
as a Restricted Subsidiary or has been merged, consolidated or amalgamated with or into, or is liquidated, wound up or dissolved
into, the Borrower or any Restricted Subsidiary and (B) the fair market value (as reasonably determined by the Borrower) of the
property or assets of any Unrestricted Subsidiary that have been transferred, conveyed or otherwise distributed (in an amount not
to exceed the original amount of the Investment in such Unrestricted Subsidiary) to the Borrower or any Restricted Subsidiary,
in each case, during the period from and including the day immediately following the Closing Date through and including such time;
plus

 

(viii)       the
amount of any Declined Proceeds; plus

 

(ix)         the
net proceeds received in cash and Cash Equivalents (up to fair market value) of any non-ordinary course sale or other Disposition
of assets that (A) are not required to be used to prepay the Term Facility pursuant to Section 2.08(b)(ii) because such
net cash proceeds do not exceed any threshold therein and (B) are not required to be used to prepay loans outstanding under the
ABL Facility, minus

 

(b)           an
amount equal to the sum of (i) Restricted Payments made pursuant to Section 6.04(a)(iii)(A), plus (ii) Restricted
Debt Payments made pursuant to Section 6.04(b)(iv)(A), plus (iii) Investments made pursuant to Section 6.06(q)(i),
in each case, after the Closing Date and prior to such time, or contemporaneously therewith;

 

provided that, (i) except with
respect to amounts described in clause (a)(iii) above, (1) the use of any amounts hereunder pursuant to Section 6.04(a)(iii)(A)
or Section 6.04(b)(iv)(A) shall not be available to the extent that any Event of Default has occurred and is continuing
and (2) the use of any amounts hereunder pursuant to Section 6.04(a)(iii)(A) or Section 6.04(b)(iv)(A) shall not
be available to the extent that, on a Pro Forma Basis, the Total Leverage Ratio would exceed 4.20:1.00 and (ii) the Borrower shall
not be permitted to use clause (ii) of the Available Amount for Restricted Payments to the extent such Restricted Payment
is made from Retained Excess Cash Flow that results from the application of the final proviso to Section 2.08(b)(i).

 

“Available
Excluded Contribution Amount” means, at any time, an amount equal to:

 

(a)           the
aggregate amount of Cash or Cash Equivalents, received by the Borrower or any of its Restricted Subsidiaries after the Closing
Date from:

 

    	 	5 	 

     

    

 

(1)          contributions
in respect of Qualified Capital Stock (other than any amounts received from the Borrower), and

 

(2)          the
sale of Qualified Capital Stock of the Borrower (other than (i) to the Borrower or pursuant to any management equity plan or stock
option plan or any other management or employee benefit plan and (ii) any amounts otherwise applied to make Restricted Payments
pursuant to Section 6.04(a)(ii)(B) or Restricted Debt Payments pursuant to Section 6.04(b)(iii)),

 

in each case,
designated as an Available Excluded Contribution Amount pursuant to a certificate of a Responsible Officer of the Borrower delivered
to the Administrative Agent on or promptly after the date the relevant capital contribution is made or the relevant proceeds are
received, as the case may be, and which are, for the avoidance of doubt, excluded from the calculation of the Available Amount;
minus

 

(b)          an
amount equal to the sum of (i) Restricted Payments made pursuant to Section 6.04(a)(iii)(B), plus (ii) Restricted
Debt Payments made pursuant to Section 6.04(b)(iv)(B), plus (iii) Investments made pursuant to Section 6.06(q)(ii),
in each case, after the Closing Date and prior to such time or contemporaneously therewith.

 

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

 

“Bail-In Legislation”
means, with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of
the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the
EU Bail-In Legislation Schedule.

 

“Banking Services”
means each and any of the following bank services provided to any Loan Party: commercial credit cards,  stored value cards,
purchasing cards, treasury management services, netting services, overdraft protections, check drawing services and automated payment
services (including depository, overdraft, controlled disbursement, ACH transactions, return items and interstate depository network
services) employee credit card programs, cash pooling services, dealer incentive, supplier finance or similar programs, current
account facilities and arrangements or services similar to any of the foregoing and/or otherwise in connection with Cash management
and Deposit Accounts.

 

“Banking Services
Obligations” means any and all obligations of any Loan Party, whether absolute or contingent and however and whenever
created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor)
(a) under any arrangement that is in effect on the Closing Date between any Loan Party and a counterparty that is (or is an
Affiliate of) the Administrative Agent, any Lender or any Arranger as of the Closing Date or (b) under any arrangement that
is entered into after the Closing Date by any Loan Party with any counterparty that is (or is an Affiliate of) the Administrative
Agent, any Lender or any Arranger at the time such arrangement is entered into, in each case, in connection with Banking Services,
in each case, that have been designated to the Administrative Agent in writing by the Borrower as being Banking Services Obligations
for the purposes of the Loan Documents, it being understood that each counterparty thereto shall be deemed (A) to appoint the Administrative
Agent as its agent under the applicable Loan Documents and (B) to agree to be bound by the provisions of Article 8, Section
9.03, Section 9.10 and the Intercreditor Agreement as if it were a Lender.

 

    	 	6 	 

     

    

 

“Bankruptcy
Code” means Title 11 of the United States Code (11 U.S.C. § 101 et seq.).

 

“Bankruptcy
Plan” has the meaning set forth in Section 9.05(g)(viii).

 

“Beneficial
Ownership Certification” means a certification regarding beneficial ownership as required by the Beneficial Ownership
Regulation.

 

“Beneficial
Ownership Regulation” means 31 C.F.R. § 1010.230.

 

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

 

“Bona Fide
Debt Fund” means a debt fund, investment vehicle, regulated bank entity or a regulated lending entity that is engaged
in making, purchasing, holding, or otherwise investing in commercial loans or similar extensions of credit in the ordinary course
of business.

 

“Borrower”
means initially, Merger Sub, immediately after giving effect to the Merger, the Target, and any Successor Borrower from time to
time party hereto.

 

“Borrower
Materials” has the meaning set forth in Section 5.01.

 

“Borrowing”
means any Loans of the same Type and Class made, converted or continued on the same date and, in the case of Eurodollar Rate Loans,
as to which a single Interest Period is in effect.

 

“Borrowing
Request” means a request by the Borrower for a Borrowing in accordance with Section 2.03 and substantially in
the form attached hereto as Exhibit B or such other form that is reasonably acceptable to the Administrative Agent and the
Borrower.

 

“Business
Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in New York, New York are authorized
or required by law to remain closed; provided that when used in connection with a Eurodollar Rate Loan, the term “Business
Day” shall also exclude any day on which banks are not open for dealings in Dollars in the London interbank market.

 

“Buyer”
means Industrea Acquisition Corp., a Delaware corporation.

 

“Buyer Trust
Funds” has the meaning set forth in Section 4.01(o)(iii).

 

“Capital Lease”
means, as applied to any Person, any lease of any property (whether real, personal or mixed) by that Person as lessee that, in
conformity with GAAP, is or should be accounted for as a capital lease on the balance sheet of that Person.

 

“Capital Stock”
means any and all shares, interests, participations, preferred equity certificates or other equivalents (however designated) of
capital stock of a corporation or limited liability company (if applicable), any and all equivalent ownership interests in a Person
(other than a corporation or limited liability company, if applicable), including partnership interests and membership interests,
and any and all warrants, profit participation interests, rights or options to purchase or other arrangements or rights to acquire
any of the foregoing, but excluding, for the avoidance of doubt, any Indebtedness convertible into or exchangeable for any of the
foregoing.

 

    	 	7 	 

     

    

 

“Captive Insurance
Subsidiary” means any Restricted Subsidiary of the Borrower that is subject to regulation as an insurance company (or
any Restricted Subsidiary thereof).

 

“Cash”
means money, currency or a credit balance in any Deposit Account.

 

“Cash Equivalents”
means, as at any date of determination, (a) securities (i) issued or directly and unconditionally guaranteed or insured
as to interest and principal by the U.S. government or (ii) issued by any agency or instrumentality of the U.S., the obligations
of which are backed by the full faith and credit of the U.S., in each case maturing within one year after such date and, in each
case, repurchase agreements and reverse repurchase agreements relating thereto; (b) direct obligations issued by any state
of the U.S., or any political subdivision of any such state or any public instrumentality thereof, in each case maturing within
one year after such date and having, at the time of the acquisition thereof, a rating of at least A-2 from S&P or at least
P-2 from Moody’s (or, if at any time neither S&P nor Moody’s shall be rating such obligations, an equivalent rating
from another nationally recognized statistical rating organization) and, in each case, repurchase agreements and reverse repurchase
agreements relating thereto; (c) commercial paper maturing no more than one year from the date of creation thereof and having,
at the time of the acquisition thereof, a rating of at least A-2 from S&P or at least P-2 from Moody’s (or, if at any
time neither S&P nor Moody’s shall be rating such obligations, an equivalent rating from another nationally recognized
statistical rating agency); (d) deposits, money market deposits, time deposit accounts, certificates of deposit or bankers’
acceptances (or similar instruments) maturing within one year after such date and issued or accepted by any Lender or by any bank
or trust company organized under, or authorized to operate as a bank or trust company under, the laws of the U.S., any state thereof
or the District of Columbia or any political subdivision thereof and that has capital and surplus of not less than $250,000,000
and, in each case, repurchase agreements and reverse repurchase agreements relating thereto; (e) shares of any money market
mutual fund that has (i)  substantially all of its assets invested in the types of investments referred to in clauses (a)
through (d) above, (ii) net assets of not less than $500,000,000 and (iii) a rating of at least A-2 from S&P or at least
P-2 from Moody’s; and (f) solely with respect to any Captive Insurance Subsidiary, any investment that such Captive
Insurance Subsidiary is not prohibited to make in accordance with applicable law.

 

“Cash Equivalents”
shall also include (x) investments of the type and maturity described in clauses (a) through (f) above of foreign
obligors, which investments or obligors (or the parent companies thereof) have the ratings described in such clauses or equivalent
ratings from comparable foreign rating agencies and (y) other short-term investments utilized by Foreign Subsidiaries in accordance
with normal investment practices for cash management in investments analogous to the foregoing investments described in clauses
(a) through (f) above and in this paragraph.

 

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

 

“CFC Holdco”
means any Domestic Subsidiary that has no material assets (held directly or indirectly) other than the Capital Stock or Indebtedness
of one or more CFCs or CFC Holdcos.

 

    	 	8 	 

     

    

 

“Change in
Law” means (a) the adoption or taking effect of any law, rule or regulation after the Closing Date, (b) any
change in any law, rule or regulation or in the interpretation or application thereof by any Governmental Authority after the Closing
Date or (c) compliance by any Lender (or, for purposes of Section 2.12(b), by any lending office of such Lender or
by such Lender’s holding company, if any) with any request, guideline or directive (whether or not having the force of law)
of any Governmental Authority made or issued after the Closing Date (other than any such request, guideline or directive to comply
with any law, rule or regulation that was in effect on the Closing Date). For purposes of this definition and Section 2.12,
(x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines, requirements and directives
thereunder or issued in connection therewith or in implementation thereof and (y) all requests, rules, guidelines, requirements
or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor
or similar authority) or U.S. regulatory authorities, in each case pursuant to Basel III, shall in each case described in clauses
(a), (b) and (c) above, be deemed to be a Change in Law, regardless of the date enacted, adopted, issued or implemented.

 

“Change of
Control” means the earliest to occur of:

 

(a)           the
acquisition by any Person or group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act),
including any group acting for the purpose of acquiring, holding or disposing of Securities (within the meaning of Rule 13d-5(b)(1) under
the Exchange Act, but excluding any employee benefit plan and/or Person acting as the trustee, agent or other fiduciary or administrator
therefor), other than one or more Permitted Holders, of Capital Stock representing more than the greater of (x) 35% of the total
voting power of all of the outstanding voting stock of Holdings and (y) the percentage of the total voting power of all the outstanding
voting stock of Holdings owned, directly or indirectly, by the Permitted Holders;

 

(b)           occupation
of a majority of the seats (other than vacant seats) on the board of directors of Holdings by Persons who were not directors of
Holdings on the date of this Agreement, or nominated or appointed by the board of directors of Holdings;

 

(c)           the
Borrower ceasing to be a direct or indirect Wholly-Owned Subsidiary of Holdings and Intermediate Holdings; and

 

(d)           the
occurrence of a “change of control” or similar event under the ABL Credit Agreement.

 

“Charge”
means any loss (as defined under GAAP), charge, fee, expense, cost, accrual or reserve of any kind.

 

“Charged Amounts”
has the meaning assigned to such term in Section 9.19.

 

“Class”,
when used with respect to (a) any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are Initial
Term Loans, Additional Term Loans of any series established as a separate “Class” pursuant to Section 2.19,
2.20 and/or 9.02(c), (b) any Commitment, refers to whether such Commitment is an Initial Term Commitment, an Additional
Term Loan Commitment of any series established as a separate “Class” pursuant to Section 2.19, 2.20 and/or
9.02(c), and (c) any Lender, refers to whether such Lender has a Loan or Commitment of a particular Class.

 

“Closing Date”
means the date on which the conditions specified in Section 4.01 are satisfied (or waived in accordance with Section
9.02).

 

    	 	9 	 

     

    

 

“Closing Date
Investor Equity Contributions” has the meaning assigned to such term in Section 4.01(o)(i).

 

“Closing Date
Investors” has the meaning assigned to such term in Section 4.01(o)(i).

 

“Code”
means the Internal Revenue Code of 1986.

 

“Collateral”
means any and all property of any Loan Party subject to a Lien under any Collateral Document and any and all other property of
any Loan Party, now existing or hereafter acquired, that is or becomes subject to a Lien pursuant to any Collateral Document to
secure the Secured Obligations.

 

“Collateral
and Guarantee Requirement” means, at any time, subject to (x) the applicable limitations set forth in this Agreement
and/or any other Loan Document and (y) the time periods (and extensions thereof) set forth in Section 5.12, the requirement
that:

 

(a)          the
Administrative Agent shall have received in the case of any Restricted Subsidiary that is required to become a Loan Party after
the Closing Date (including by ceasing to be an Excluded Subsidiary):

 

(i)           (A)
a joinder to the Loan Guaranty in substantially the form attached as an exhibit thereto, (B) a supplement to the Security Agreement
in substantially the form attached as an exhibit thereto, (C) if the respective Restricted Subsidiary required to comply with the
requirements set forth in this definition pursuant to Section 5.12 owns registrations of or applications for U.S. Patents,
Trademarks and/or Copyrights or exclusive licenses to U.S. Copyrights that constitute Collateral, an Intellectual Property Security
Agreement in substantially the form attached as Exhibit H hereto, (D) a completed Perfection Certificate, (E) Uniform Commercial
Code financing statements in appropriate form for filing in such jurisdictions as the Administrative Agent may reasonably request
and (F) an executed joinder to the Intercreditor Agreement in substantially the form attached as an exhibit thereto;

 

(ii)          each
item of Collateral required to be delivered under Section 4.02 of the Security Agreement (which, for the avoidance of doubt, shall
be delivered within the time periods set forth in Section 5.12(a));

 

(b)          the
Administrative Agent shall have received with respect to any Material Real Estate Assets (other than any Excluded Real Property),
a Mortgage and any necessary UCC fixture filing in respect thereof, in each case together with, to the extent customary and appropriate
(as reasonably determined by the Administrative Agent and the Borrower):

 

(i)           evidence
that (A) counterparts of such Mortgage have been duly executed, acknowledged and delivered and such Mortgage and any corresponding
UCC or equivalent fixture filing are in form suitable for filing or recording in all filing or recording offices that the Administrative
Agent may deem reasonably necessary in order to create a valid and subsisting first priority, perfected Lien on such Material Real
Estate Asset in favor of the Administrative Agent for the benefit of the Secured Parties to secure the Secured Obligations, (B)
such Mortgage and any corresponding UCC or equivalent fixture filings have been duly recorded or filed, as applicable, and (C)
all filing and recording taxes and fees have been paid or otherwise provided for in a manner reasonably satisfactory to the Administrative
Agent;

 

    	 	10 	 

     

    

 

(ii)           customary
legal opinions of local counsel for the relevant Loan Party with respect to each Mortgage in the jurisdiction in which such Material
Real Estate Asset is located as the Administrative Agent may reasonably request, which legal opinions shall be in form and substance
reasonably satisfactory to the Administrative Agent;

 

(iii)          environmental
assessments in form and scope reasonably satisfactory to the Administrative Agent;

 

(iv)          a
policy or policies of title insurance insuring the Lien of such Mortgage in an amount reasonably satisfactory to the Administrative
Agent naming the Administrative Agent as the insured for the benefit of the Secured Parties, issued by a nationally recognized
title insurance company reasonably acceptable to the Administrative Agent insuring the Lien of each such Mortgage as a valid and
enforceable Lien on such Material Real Estate Asset described therein, free and clear of any other Liens except Permitted Liens,
together with such endorsements, coinsurance and reinsurance as the Administrative Agent may reasonably request;

 

(v)          American
Land Title Association/American Congress of Surveying and Mapping (ALTA/ACSM) forms of surveys by a duly registered and licensed
land surveyor for which all necessary fees have been paid dated a date reasonably acceptable to the Administrative Agent, certified
to the Administrative Agent and the title insurance company in a manner reasonably satisfactory to the Administrative Agent; provided
that the Administrative Agent may in its reasonable discretion accept any such existing survey so long as such existing survey
satisfies any applicable local law requirements; and

 

(vi)          appraisals
(if required under the Financial Institutions Reform Recovery and Enforcement Act of 1989, as amended, as determined by the Administrative
Agent in its reasonable discretion) and “Life-of-Loan” flood certifications and any required borrower notices under
Regulation H together with any other documents as the Administrative Agent and any Lender may reasonably request to complete their
respective flood due diligence (together with evidence of federal flood insurance for any such Flood Hazard Property located in
a flood hazard area); provided that the Administrative Agent may in its reasonable discretion accept any such existing certificate
or appraisal so long as such existing certificate or appraisal satisfies any applicable local law requirements.

 

“Collateral
Documents” means, collectively, (i) the Security Agreement, (ii) each Mortgage, (iii) each Intellectual
Property Security Agreement, (iv) any supplement to any of the foregoing delivered to the Administrative Agent pursuant to
the definition of “Collateral and Guarantee Requirement” and (v) each of the other instruments and documents pursuant
to which any Loan Party grants a Lien on any Collateral as security for payment of the Secured Obligations.

 

“Commercial
Tort Claim” has the meaning set forth in Article 9 of the UCC.

 

“Commitment”
means, with respect to each Lender, such Lender’s Initial Term Loan Commitment and Additional Term Loan Commitment, as applicable,
in effect as of such time.

 

    	 	11 	 

     

    

 

“Commitment
Schedule” means the Schedule attached hereto as Schedule 1.01(a).

 

“Commodity
Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.).

 

“Company Competitor”
means any competitor of the Borrower and/or any of its subsidiaries and/or the Target and/or any of its subsidiaries.

 

“Compliance
Certificate” means a Compliance Certificate substantially in the form of Exhibit C.

 

“Confidential
Information” has the meaning assigned to such term in Section 9.13.

 

“Connection
Income Taxes” means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that
are franchise Taxes or branch profits Taxes.

 

“Consolidated
Adjusted EBITDA” means, as to any Person on a consolidated basis for any period, the sum of:

 

(a)           Consolidated
Net Income for such period; plus

 

(b)           the
sum, without duplication, of (to the extent deducted (and not added back) in calculating Consolidated Net Income, other than in
respect of clauses (ix), (xv) and (xvi) below) the amounts of:

 

(i)           Taxes
paid and any provision for Taxes, including income, capital, state, franchise and similar Taxes, property Taxes and foreign withholding
Taxes (including (i) penalties and interest related to any such Tax or arising from any Tax examination and (ii) pursuant to any
Tax sharing arrangement, in each case as permitted by Section 6.04(a)(i)(A) or Section 6.04(a)(i)(B)) of such Person paid
or accrued during such period;

 

(ii)          consolidated
interest expense whether paid or accrued and whether or not capitalized in respect of such period (including (A) fees and expenses
paid or payable to the Administrative Agent in connection with its services hereunder (and to each agent under the ABL Facility
in connection with its services thereunder), (B) amortization of debt issuance cost and/or original issue discount resulting from
the issuance of Indebtedness at less than par and other bank, administrative agency (or trustee) and financing fees, (C) the interest
component of Capital Lease obligations, (D) costs of surety bonds in connection with financing activities, (E) commissions, discounts
and other fees, expenses and charges paid or owed with respect to letters of credit, bank guarantees, bankers’ acceptances,
ancillary facilities or any similar facilities or financing and hedging agreements and (F) any interest cost or expected return
on any plan assets related to any post-employment benefit scheme or any other pension-related items and any curtailments or settlements
related thereto);

 

(iii)          (A)
depreciation, amortization (including, without limitation, amortization of goodwill, software and other intangible assets), (B)
any impairment Charge (including any non-cash Charge related to the impairment of goodwill and other assets) and (C) any asset
write-off and/or write-down (other than write-offs or write-downs of inventory and accounts receivable in the ordinary course of
business);

 

    	 	12 	 

     

    

 

(iv)          (A)
Transaction Costs (including costs in connection with payments related to the rollover, acceleration or payout of equity interest
and stock options held by management and members of the board of the Target and its subsidiaries), (B) Charges incurred (1) in
connection with the consummation of any transaction (or any transaction proposed and not consummated), not prohibited by this Agreement,
including any issuance or offering of Capital Stock any Investment, any Disposition, any recapitalization, any merger, consolidation
or amalgamation, any option buyout or any incurrence, repayment, refinancing, amendment or modification of Indebtedness (including
any amortization or write-off of debt issuance or deferred financing costs, premiums and prepayment penalties) or similar transaction
and/or (2) in connection with any Qualifying Offering (whether or not consummated) and (C) the amount of any Charge that is
actually reimbursed or reimbursable by one or more third parties pursuant to indemnification or reimbursement provisions or similar
agreements or insurance; provided that in respect of any Charge that is added back in reliance on clause (C) above,
the relevant Person in good faith expects to receive reimbursement for such fee, cost, expense or reserve within the next four
Fiscal Quarters (it being understood that to the extent any reimbursement amount is not actually received within such Fiscal Quarters,
such reimbursement amount shall be deducted in calculating Consolidated Adjusted EBITDA for such Fiscal Quarters);

 

(v)          any
Charge attributable to the undertaking and/or implementation of cost savings, operating expense reductions and/or synergies (including,
without limitation, in connection with any integration or transition, any reconstruction, decommissioning, recommissioning or reconfiguration
of fixed assets for alternative uses, any facility opening and/or pre-opening, any inventory optimization program and/or any curtailment),
any business optimization Charge, any restructuring Charge (including any Charge relating to any Tax restructuring), any Charge
relating to the closure or consolidation of any facility (including but not limited to severance, rent termination costs, moving
costs and legal costs), any systems implementation Charge, any Charge relating to entry into a new market, any Charge relating
to any strategic initiative, any consulting Charge, any signing Charge, any retention or completion bonus, any expansion and/or
relocation Charge, any Charge associated with any modification to any pension and post-retirement employee benefit plan, any Charge
associated with new systems design, any implementation Charge and/or any project startup Charge;

 

(vi)         other
add-backs and adjustments reflected in the model delivered to the Arrangers on May 27, 2018;

 

(vii)        the
amount of any Charge or deduction associated with any subsidiary of such Person attributable to non-controlling interests or minority
interests of third parties;

 

(viii)       the
amount of any loss from (i) extraordinary items and (ii) non-recurring (including non-recurring credit expense) or unusual
items (including costs of, and payments of, (x) litigation expenses, actual or prospective legal settlements, fines, judgments
or orders, (y) recruitment and hiring bonuses and legal fees and Taxes related to issuances of significant options and (z) corporate
reorganizations);

 

    	 	13 	 

     

    

 

(ix)          the
amount of any expected pro forma “run rate” cost savings, operating expense reductions and synergies (collectively,
“Expected Cost Savings”) (net of actual amounts realized) that are reasonably identifiable and factually supportable
(in the good faith determination of such Person, as certified by a Responsible Officer of such Person) related to (A) the Transactions
and (B) any acquisition, divestiture, permitted Investment, Disposition, operating improvement, restructuring, cost savings initiative,
any similar initiative and/or specified transaction, whether before (if in connection with the O’Brien Acquisition only)
or after the Closing Date (any such operating improvement, restructuring, cost savings initiative or similar initiative or specified
transaction, a “Cost Saving Initiative”); provided that, the results of such Expected Cost Savings and/or
Cost Saving Initiatives are projected by the Borrower in good faith to result from actions that have been taken or with respect
to which substantial steps have been taken or are expected to be taken (in the good faith determination of the Borrower) within
12 months after (i) with respect to the Transactions, the Closing Date and (ii) with respect to any Cost Saving Initiative, the
date of such operating improvement, restructuring, cost savings initiative or similar initiative or specified transaction (it being
understood that pro forma “run rate” being the full benefit associated with any action taken or with respect to which
substantial steps have been taken or are expected to be taken as though such Expected Cost Savings had been fully realized on the
first date of the applicable Test Period for the entirety of such Test Period); provided, further that the aggregate amount
added to or included in Consolidated Adjusted EBITDA pursuant to this clause (ix) shall not, for any Test Period, exceed an amount
equal to 25% of Consolidated Adjusted EBITDA for such Test Period, calculated before giving effect to any such add-backs or inclusion;

 

(x)           (A)
any Charge incurred as a result of, in connection with or pursuant to any management equity plan, profits interest or stock option
plan or any other management or employee benefit plan or agreement, any pension plan (including any post-employment benefit scheme
which has been agreed to with the relevant pension trustee), any stock subscription or shareholder agreement, any employee benefit
trust, any employee benefit scheme or any similar equity plan or agreement, (B) any Charges in connection with the rollover (including
any deferred compensation agreement), acceleration or payout (including in the form of dividends or distributions) of Capital Stock
held by management and members of the board of directors of any Parent Company, Holdings, Intermediate Holdings, Borrower and/or
any of its subsidiaries, in each case, to the extent that (in the case of any Cash Charges) such Charges, are funded with net Cash
proceeds contributed to the Subject Person as a capital contribution or as a result of the sale or issuance of Capital Stock (other
than Disqualified Capital Stock) of the Subject Person and (C) the amount of travel and other expenses, payroll taxes, indemnification
payments, director’s fees and any other Charges incurred in connection with, or amounts payable to, any director of the board
of Holdings or its parent entities in connection with such director serving as a member of such board of directors and performing
his or her duties in respect thereof;

 

(xi)          any
earn-out obligation incurred or accrued in connection with the Acquisition, any acquisition and/or other Investment permitted pursuant
to Section 6.06 and paid or accrued during such period and on similar acquisitions and Investments completed prior to the Closing
Date;

 

(xii)         Public
Company Costs;

 

(xiii)        any
non-cash Charge (provided that to the extent that any such non-cash Charge represents an accrual or reserve for any potential
cash item in any future period, (A) such Person may elect not to add back such non-cash Charge in the current period or (B) to
the extent such Person elects to add back such non-cash Charge, the cash payment in respect thereof in such future period shall
be subtracted from Consolidated Adjusted EBITDA to such extent);

 

    	 	14 	 

     

    

 

(xiv)        the
amount of any Charge in connection with a single or one-time event, including, in connection with (A) the Acquisition, any acquisition
or similar Investment permitted hereunder after the Closing Date (including without limitation, legal, accounting and other professional
fees and expenses incurred in connection with acquisitions and other Investments made prior to the Closing Date), (B) the consolidation,
closing or reconfiguration of any facility during such period and (C) one-time consulting costs;

 

(xv)         to
the extent not otherwise included in Consolidated Net Income, proceeds of business interruption insurance in an amount representing
the earnings for the applicable period that such proceeds are intended to replace (whether or not received so long as such Person
in good faith expects to receive the same within the next four Fiscal Quarters (it being understood that to the extent not actually
received within such Fiscal Quarters, such proceeds shall be deducted in calculating Consolidated Adjusted EBITDA for such Fiscal
Quarters));

 

(xvi)       Cash
actually received (or any netting arrangements resulting in reduced Cash expenditure) during such period, and not included in Consolidated
Net Income, to the extent that the non-Cash gain relating to such Cash receipt or netting arrangement was deducted in the calculation
of Consolidated Adjusted EBITDA pursuant to clause (c)(i) below for any previous period and not added back; and

 

(xvii)       amounts
paid or accrued in respect of Sponsor Fees to the extent permitted pursuant to Section 6.08(o) minus

 

(c)           to
the extent such amounts increase Consolidated Net Income:

 

(i)            non-Cash
gains or income; provided that if any non-Cash gain or income relates to potential Cash items in any future period, such Person
may determine not to deduct such non-Cash gain or income in the current period;

 

(ii)           the
amount added back to Consolidated Adjusted EBITDA pursuant to clause (b)(iv)(C) above (as described in such clause) to the extent
such reimbursement amounts were not received within the time period required by such clause;

 

(iii)          the
amount added back to Consolidated Adjusted EBITDA pursuant to clause (b)(xv) above (as described in such clause) to the extent
such business interruption insurance proceeds were not received within the time period required by such clause;

 

(iv)          to
the extent that such Person added back the amount of any non-Cash charge to Consolidated Adjusted EBITDA pursuant to clause (b)(xiii)
above in respect of any previous period, the subsequent cash payment in respect thereof;

 

(v)           the
amount of any gain from (i) extraordinary items and (ii) non-recurring (including non-recurring credit expense) or unusual
items (including costs of, and payments of, (x) litigation expenses, actual or prospective legal settlements, fines, judgments
or orders, (y) recruitment and hiring bonuses and legal fees and Taxes related to issuances of significant options and (z) corporate
reorganizations); and

 

    	 	15 	 

     

    

 

(vi)          the
amount of any gain in connection with a single or one-time event.

 

Notwithstanding anything
to the contrary, it is agreed, that for the purpose of calculating the Interest Coverage Ratio, the Total Leverage Ratio, the First
Lien Leverage Ratio and the Secured Leverage Ratio for any period that includes the Fiscal Quarters ended on or about October 31,
2017, January 31, 2018, April 30, 2018 and July 31, 2018, (i) Consolidated Adjusted EBITDA for the Fiscal Quarter ended on or about
October 31, 2017 shall be deemed to be $23,000,000, (ii) Consolidated Adjusted EBITDA for the Fiscal Quarter ended on or about
January 31, 2018 shall be deemed to be $17,500,000, (iii) Consolidated Adjusted EBITDA for the Fiscal Quarter ended on or about
April 30, 2018 shall be deemed to be $20,900,000, and (iv) Consolidated Adjusted EBITDA for the Fiscal Quarter ended on or about
July 31, 2018 shall be deemed to be $21,700,000, in each case, as adjusted on a Pro Forma Basis, as applicable.

 

Unless otherwise stated
or context clearly dictates otherwise, references to Consolidated Adjusted EBITDA shall refer to the Consolidated Adjusted EBITDA
of the Borrower and its Restricted Subsidiaries.

 

“Consolidated
First Lien Debt” means, as to any Person at any date of determination, the aggregate principal amount of Consolidated
Total Debt outstanding on such date that is secured by a Lien on any asset of such Person or its Restricted Subsidiaries that is
not, by its terms, contractually subordinated to the Lien securing the Obligations (and including, for the avoidance of doubt,
Consolidated Total Debt under the ABL Facility).

 

“Consolidated
Net Income” means, as to any Person (the “Subject Person”) for any period, the net income (or loss)
of the Subject Person on a consolidated basis for such period taken as a single accounting period determined in conformity with
GAAP; provided that there shall be excluded, without duplication,

 

(a)           the
cumulative effect of any change in accounting principles during such period,

 

(b)           any
net gains or Charges with respect to (i) disposed, abandoned, closed and discontinued operations (other than, at the option
of the Borrower, any operations pending the disposal, abandonment, divestiture and/or termination thereof) and any accretion or
accrual of discounted liabilities and on the disposal of disposed, abandoned, and discontinued operations and/or (ii) any facilities,
plants or distribution centers that have been closed during such period,

 

(c)           gains,
income, losses, expenses or charges (less all fees and expenses chargeable thereto) attributable to any sales or dispositions of
Capital Stock or assets (including asset retirement costs) or returned surplus assets of any employee benefit plan, in each case,
outside of the ordinary course of business,

 

(d)           (i) the
income of any Person (other than a subsidiary of the Subject Person) in which any other Person (other than the Subject Person or
any of its subsidiaries) has a joint interest, except to the extent of the amount of dividends or distributions or other payments
(including any ordinary course dividend, distribution or other payment) paid in Cash (or to the extent converted into Cash) to
the Subject Person or any of its subsidiaries by such Person during such period and (ii) the loss of any Person (other than
a subsidiary of the Subject Person) in which any other Person (other than the Subject Person or any of its subsidiaries) has a
joint interest, other than to the extent that the Subject Person or any of its subsidiaries has contributed Cash or Cash Equivalents
to such person in respect of such loss during such period,

 

    	 	16 	 

     

    

 

(e)          effects
of adjustments (including the effects of such adjustments pushed down to the Subject Person and its Restricted Subsidiaries) in
the Subject Person’s consolidated financial statements pursuant to GAAP (including in the inventory, property and equipment,
software, goodwill, intangible assets, in-process research and development, deferred revenue, deferred rent and debt line items
thereof) resulting from the application of recapitalization accounting or acquisition accounting, as the case may be, in relation
to the Transactions or any consummated acquisition or the amortization or write-off of any amounts thereof,

 

(f)          any
net income or loss (less all fees and expenses or charges related thereto) attributable to the early extinguishment of Indebtedness
(and the termination of any associated Hedge Agreements),

 

(g)          any
(i) write-off or amortization made in such period of deferred financing costs and premiums paid or other expenses incurred
directly in connection with any early extinguishment of Indebtedness, (ii) good will or other asset impairment charges, write-offs
or write-downs or (iii) amortization of intangible assets,

 

(h)          any
non-cash compensation charge, cost, expense, accrual or reserve, including any such charge, cost, expense, accrual or reserve arising
from the grant of stock appreciation or similar rights, stock options, restricted stock or other equity incentive programs, and
any Cash charges associated with the rollover, acceleration or payment of management equity in connection with the Transactions,

 

(i)          any
fees, commissions and expenses incurred during such period, or any amortization or write-off thereof for such period in connection
with any Investment, Disposition, incurrence or repayment of Indebtedness, issuance of Capital Stock, refinancing transaction or
amendment or modification of any Indebtedness (in each case, including any such transaction consummated prior to the Closing Date
and any such transaction undertaken but not completed) and any charges or non-recurring merger costs incurred during such period
as a result of any such transaction,

 

(j)          accruals
and reserves that are established or adjusted within 12 months after (i) the Closing Date that are so required to be established
or adjusted as a result of the Transactions and (ii) the date of any Permitted Acquisition or other similar Investment permitted
pursuant to Section 6.06, in each case, in accordance with GAAP or as a result of the adoption or modification of accounting
policies,

 

(k)          any
realized or unrealized foreign currency exchange gain or loss (including any currency re-measurement of Indebtedness, any net gain
or loss resulting from Hedge Agreements for currency exchange risk associated with the foregoing or any other currency related
risk and any gain or loss resulting from intercompany Indebtedness),

 

    	 	17 	 

     

    

 

(l)          any
unrealized gain or loss in respect of the fair market value of (x) any obligation under any Hedge Agreement as determined in accordance
with GAAP and/or (y) any other derivative instrument pursuant to, in the case of this clause (y), FASB ASC No. 815
– Derivatives and Hedging,

 

(m)         solely
for the purpose of determining the Available Amount, the net income for such period of any subsidiary (other than any Subsidiary
Guarantor), to the extent the declaration or payment of dividends or similar distributions by that subsidiary of its net income
is not at the date of determination permitted without any prior governmental approval (which has not been obtained) or, directly
or indirectly, by the operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule,
or governmental regulation applicable to that subsidiary or its stockholders, unless such restriction with respect to the payment
of dividends or similar distributions has been legally waived; provided that Consolidated Net Income will be increased by the amount
of dividends or other distributions or other payments actually paid in cash (or to the extent converted into cash) to the Subject
Person or a subsidiary thereof in respect of such period, to the extent not already included therein, and

 

(n)          solely
for purposes of calculating Excess Cash Flow, the income or loss of any Person accrued prior to the date on which such Person becomes
a Restricted Subsidiary of such Person or is merged into or consolidated with such Person or any Restricted Subsidiary of such
Person or the date that such other Person’s assets are acquired by such Person or any Restricted Subsidiary of such Person.

 

Unless otherwise stated
or context clearly dictates otherwise, references to Consolidated Net Income shall refer to the Consolidated Net Income of the
Borrower and its Restricted Subsidiaries.

 

“Consolidated
Secured Debt” means, as to any Person at any date of determination, the aggregate principal amount of Consolidated Total
Debt outstanding on such date that is secured by a Lien on any asset or property of such Person or its Restricted Subsidiaries.

 

“Consolidated
Total Assets” means, at any date, all amounts that would, in conformity with GAAP, be set forth opposite the caption
“total assets” (or any like caption) on a consolidated balance sheet of the applicable Person at such date; provided
that, at all times prior to the first delivery of financial statements pursuant to Section 5.01(a) or (b), this definition
shall be applied based on the pro forma balance sheet of Holdings delivered pursuant to Section 4.01.

 

“Consolidated
Total Debt” means, as to any Person at any date of determination, the aggregate principal amount of all (a) debt
for borrowed money, (b) Capital Leases and (c) purchase money Indebtedness of such Person and its Restricted Subsidiaries
on a consolidated basis; provided that “Consolidated Total Debt” shall be calculated (x) net of the Unrestricted
Cash Amount and (y) excluding any obligation, liability or indebtedness of such Person if, upon or prior to the maturity thereof,
such Person has irrevocably deposited with the proper Person in trust or escrow the necessary funds (or evidences of indebtedness)
for the payment, redemption or satisfaction of such obligation, liability or indebtedness, and thereafter such funds and evidences
of such obligation, liability or indebtedness or other security so deposited are not included in the calculation of the Unrestricted
Cash Amount; provided, further that “Consolidated Total Debt” shall not be reduced pursuant to clause
(x) by more than $15,000,000.

 

    	 	18 	 

     

    

 

“Consolidated
Working Capital” means, as at any date of determination, the excess of Current Assets over Current Liabilities.

 

“Consolidated
Working Capital Adjustment” means, for any period on a consolidated basis, the amount (which may be a negative number)
by which Consolidated Working Capital as of the beginning of such period exceeds (or is less than) Consolidated Working Capital
as of the end of such period; provided that there shall be excluded (a) the effect of reclassification during such
period between current assets and long term assets and current liabilities and long term liabilities (with a corresponding restatement
of the prior period to give effect to such reclassification), (b) the effect of any Disposition or acquisition of any Person,
facility or business line, unit or division by such Person during such period, (c) the effect of any fluctuations in the amount
of accrued and contingent obligations under any Hedge Agreement, and (d) the application of acquisition or recapitalization
accounting.

 

“Contract
Consideration” has the meaning assigned to such term in the definition of “Excess Cash Flow”.

 

“Contractual
Obligation” means, as applied to any Person, any indenture, mortgage, deed of trust, contract, undertaking, agreement
or other instrument to which that Person is a party or by which it or any of its properties is bound or to which it or any of its
properties is subject.

 

“Control”
means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a
Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled”
have meanings correlative thereto.

 

“Copyright”
means any and all (a) copyrights, rights and interests in copyrights, works protectable by copyright whether published or
unpublished, copyright registrations and copyright applications, (b) all renewals of any of the foregoing, (c)  income,
royalties, damages, and payments now or hereafter due and/or payable under any of the foregoing, including, without limitation,
damages or payments for past or future infringements for any of the foregoing, (d) rights to sue for past, present and future
infringement of any of the foregoing, and (e) rights corresponding to any of the foregoing throughout the world.

 

“Cost Saving
Initiative” has the meaning assigned to such term in the definition of “Consolidated Adjusted EBITDA”.

 

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

 

“Current Assets”
means, at any date, all assets of the Borrower and its Restricted Subsidiaries which under GAAP would be classified as current
assets (excluding any (a) Cash and Cash Equivalents, (b) the current portion of current and deferred Taxes, (c) permitted loans
made to third parties, (d) assets held for sale, (e) pension assets, (f) deferred bank fees, (g) derivative financial instruments
and (h) insurance claims).

 

“Current Liabilities”
means, at any time, the consolidated current liabilities of the Borrower and its Restricted Subsidiaries at such time, but excluding,
without duplication, (a) the current portion of any long-term Indebtedness, (b) the current portion of interest expense,
(c) the current portion of any Capital Lease, (d) the current portion of current and deferred Taxes based on income,
profit or capital, (e) liabilities in respect of unpaid earn-outs, (f) the current portion of any other long-term liabilities,
(g) accruals relating to restructuring reserves or other exceptional items, (h) liabilities in respect of funds of third parties
on deposit with the Borrower or any of its Restricted Subsidiaries, (i) any liabilities recorded in connection with stock-based
awards, partnership interest-based awards, awards of profits interests, deferred compensation awards and similar incentive based
compensation awards or arrangements and liabilities related to any post-employment benefit schemes and (j) liabilities related
to Restricted Payments declared but not yet paid.

 

    	 	19 	 

     

    

 

“Debt Fund
Affiliate” means (i) any fund managed by, or under common management with, the Sponsor, and (ii) any other Affiliate
of the Sponsor or another investor in Holdings that, in any such case of clauses (i) or (ii), is a Bona Fide Debt Fund.

 

“Debtor Relief
Laws” means the Bankruptcy Code of the U.S., and all other liquidation, conservatorship, bankruptcy, general assignment
for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization or similar debtor relief laws
of the U.S. or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally.

 

“Declined
Proceeds” has the meaning assigned to such term in Section 2.08(b)(v).

 

“Default”
means any event or condition which upon notice, lapse of time or both would become an Event of Default.

 

“Defaulting
Lender” means any Lender that has (a) become (or any parent company thereof has become) insolvent or been determined
by any Governmental Authority having regulatory authority over such Person or its assets, to be insolvent, or the assets or management
of which has been taken over by any Governmental Authority, (b) become (or any parent company thereof has become) the subject
of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, assignee for the benefit
of creditors or similar Person charged with reorganization or liquidation of its business or custodian, appointed for it, or has
taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in, any such proceeding or appointment,
unless in the case of any Lender subject to this clause (b), the Borrower and the Administrative Agent have each determined
that such Lender intends, and has all approvals required to enable it (in form and substance satisfactory to each of the Borrower
and the Administrative Agent), to continue to perform its obligations as a Lender hereunder; provided that no Lender shall
be deemed to be a Defaulting Lender solely by virtue of the ownership or acquisition of any Capital Stock in such Lender or its
parent by any Governmental Authority or (c) become the subject of a Bail-In Action; provided that such action does not result
in or provide such Lender with immunity from the jurisdiction of courts within the U.S. or from the enforcement of judgments or
writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm
any contract or agreement to which such Lender is a party.

 

“Deposit Account”
means a demand, time, savings, passbook or like account with a bank, savings and loan association, credit union or like organization,
other than an account evidenced by a negotiable certificate of deposit.

 

    	 	20 	 

     

    

 

“Derivative
Transaction” means (a) any interest-rate transaction, including any interest-rate swap, basis swap, forward rate
agreement, interest rate option (including a cap, collar or floor), and any other instrument linked to interest rates that gives
rise to similar credit risks (including when-issued securities and forward deposits accepted), (b) any exchange-rate transaction,
including any cross-currency interest-rate swap, any forward foreign-exchange contract, any currency option, and any other instrument
linked to exchange rates that gives rise to similar credit risks, (c) any equity derivative transaction, including any equity-linked
swap, any equity-linked option, any forward equity-linked contract, and any other instrument linked to equities that gives rise
to similar credit risk and (d) any commodity (including precious metal) derivative transaction, including any commodity-linked
swap, any commodity-linked option, any forward commodity-linked contract, and any other instrument linked to commodities that gives
rise to similar credit risks; provided, that no phantom stock or similar plan providing for payments only on account of
services provided by current or former directors, officers, employees, members of management, managers or consultants of Holdings
or its subsidiaries shall be a Derivative Transaction.

 

“Designated
Non-Cash Consideration” means the fair market value (as determined by the Borrower in good faith) of non-Cash consideration
received by the Borrower or any Restricted Subsidiary in connection with any Disposition pursuant to Section 6.07(h) that
is designated as Designated Non-Cash Consideration pursuant to a certificate of a Responsible Officer of the Borrower, setting
forth the basis of such valuation (which amount will be reduced by the amount of Cash or Cash Equivalents received in connection
with a subsequent sale or conversion of such Designated Non-Cash Consideration to Cash or Cash Equivalents).

 

“Disposition”
or “Dispose” means the sale, lease, sublease, or other disposition of any property of any Person.

 

“Disqualified
Capital Stock” means any Capital Stock which, by its terms (or by the terms of any security into which it is convertible
or for which it is exchangeable), or upon the happening of any event, (a) matures (excluding any maturity as the result of
an optional redemption by the issuer thereof) or is mandatorily redeemable (other than for Qualified Capital Stock), pursuant to
a sinking fund obligation or otherwise, or is redeemable at the option of the holder thereof (other than for Qualified Capital
Stock), in whole or in part, on or prior to 91 days following the Latest Maturity Date at the time such Capital Stock is issued
(it being understood that if any such redemption is in part, only such part coming into effect prior to 91 days following the Latest
Maturity Date shall constitute Disqualified Capital Stock), (b) is or becomes convertible into or exchangeable (unless at
the sole option of the issuer thereof) for (i) debt securities or (ii) any Capital Stock that would constitute Disqualified
Capital Stock, in each case at any time on or prior to 91 days following the Latest Maturity Date at the time such Capital Stock
is issued, (c) contains any mandatory repurchase obligation or any other repurchase obligation at the option of the holder
thereof (other than for Qualified Capital Stock), in whole or in part, which may come into effect prior to 91 days following the
Latest Maturity Date at the time such Capital Stock is issued, or (d) provides for the scheduled payments of (but not accrual
of) dividends required to be paid in Cash on or prior to 91 days following the Latest Maturity Date at the time such Capital Stock
is issued (it being understood that if any such repurchase obligation is in part, only such part coming into effect prior to 91
days following the Latest Maturity Date shall constitute Disqualified Capital Stock); provided that any Capital Stock that
would not constitute Disqualified Capital Stock but for provisions thereof giving holders thereof (or the holders of any security
into or for which such Capital Stock is convertible, exchangeable or exercisable) the right to require the issuer thereof to redeem
such Capital Stock upon the occurrence of any change of control, Qualifying Offering or any Disposition occurring prior to 91 days
following the Latest Maturity Date at the time such Capital Stock is issued shall not constitute Disqualified Capital Stock, if
such Capital Stock provides that the issuer thereof will not redeem any such Capital Stock pursuant to such provisions prior to
the Termination Date.

 

    	 	21 	 

     

    

 

Notwithstanding the
preceding sentence, (A) if such Capital Stock is issued pursuant to any plan for the benefit of directors, officers, employees,
members of management, managers or consultants or by any such plan to such directors, officers, employees, members of management,
managers or consultants, in each case in the ordinary course of business of Holdings, Intermediate Holdings, the Borrower or any
Restricted Subsidiary (or any Parent Company or any subsidiary), such Capital Stock shall not constitute Disqualified Capital Stock
solely because it may be required to be repurchased by the issuer thereof in order to satisfy applicable statutory or regulatory
obligations and (B) no Capital Stock held by any future, present or former employee, director, officer, manager, member of management
or consultant (or their respective Affiliates or Immediate Family Members) of the Borrower (or any Parent Company or any subsidiary)
shall be considered Disqualified Capital Stock solely because such stock is redeemable or subject to repurchase pursuant to any
management equity subscription agreement, stock option, stock appreciation right or other stock award agreement, stock ownership
plan, put agreement, stockholder agreement or similar agreement that may be in effect from time to time.

 

“Disqualified
Institution” means:

 

(a)          (i)
any Person identified to the Arrangers on or prior to September 26, 2018, (ii) any Affiliate of any Person described in clause
(a)(i) above that is identified in a written notice to the Arrangers (if after September 26, 2018, and prior to the Closing
Date) or the Administrative Agent (if after the Closing Date) and (iii) any other Affiliate of any Person described in clause
(a)(i) above reasonably identifiable as such based solely on its name; and/or

 

(b)          (i)
any Company Competitor and/or any Affiliate of any Company Competitor, in each case identified to the Arrangers on or prior to
September 26, 2018, (ii) any Company Competitor that is identified in writing and reasonably acceptable to the Arrangers (if after
September 26, 2018 and prior to the Closing Date) or the Administrative Agent (if after the Closing Date), (iii) any Affiliate
of any Person described in clauses (b)(i) and/or (b)(ii) above reasonably identifiable as such based solely on its
name and (iv) any other Affiliate of any Person described in clauses (b)(i), (ii) and/or (iii) above that
is (x) identifiable based solely on the name of such Affiliate or (y) identified by a written notice to the Arrangers (or,
after the Closing Date, to the Administrative Agent) after September 26, 2018 (it being understood and agreed that no Bona Fide
Debt Fund may be designated as a Disqualified Institution pursuant to this clause (b));

 

it being understood
and agreed that no written notice delivered pursuant to clauses (a)(iii), (b)(ii) and/or (b)(iv) above shall
apply retroactively to disqualify any person that has previously acquired an assignment or participation interest in the Loans.

 

“Dollars”
or “$” refers to lawful money of the U.S.

 

“Domestic
Subsidiary” means any Restricted Subsidiary incorporated or organized under the laws of the U.S., any state thereof or
the District of Columbia.

 

“Dutch Auction”
has the meaning assigned to such term on Schedule 1.01(b).

 

“EEA Financial
Institution” means (a) any credit institution or investment firm established in any EEA Member Country which is subject
to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an
institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which
is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision
with its parent;

 

    	 	22 	 

     

    

 

“EEA Member
Country” means any of the member states of the European Union, Iceland, Liechtenstein, and Norway.

 

“EEA Resolution
Authority” means any public administrative authority or any person entrusted with public administrative authority of
any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution.

 

“Effective
Yield” means, as to any Indebtedness, the effective yield applicable thereto calculated by the Administrative Agent in
consultation with the Borrower in a manner consistent with generally accepted financial practices, taking into account (a) interest
rate margins, (b) interest rate floors (subject to the proviso set forth below), (c) any amendment to the relevant interest rate
margins and interest rate floors prior to the applicable date of determination and (d) original issue discount and upfront or similar
fees (based on an assumed four-year average life to maturity or lesser remaining average life to maturity), but excluding (i) any
arrangement, commitment, structuring, underwriting and/or amendment fees (regardless of whether any such fees are paid to or shared
in whole or in part with any lender) and (ii) any other fee that is not payable to all relevant lenders generally; provided,
however, that (A) to the extent that the Eurodollar Rate or Alternate Base Rate (without giving effect to any floor specified
in the definition thereof) is less than any floor applicable to the loans in respect of which the Effective Yield is being calculated
on the date on which the Effective Yield is determined, the amount of the resulting difference will be deemed added to the interest
rate margin applicable to the relevant Indebtedness for purposes of calculating the Effective Yield and (B) to the extent that
the Eurodollar Rate (for a period of three months) or Alternate Base Rate (without giving effect to any floor specified in the
definition thereof) is greater than any applicable floor on the date on which the Effective Yield is determined, the floor will
be disregarded in calculating the Effective Yield.

 

“Eligible
Assignee” means (a) any Lender, (b) any commercial bank, insurance company, or finance company, financial institution,
any fund that invests in loans or any other “accredited investor” (as defined in Regulation D of the Securities
Act), (c) any Affiliate of any Lender, (d) any Approved Fund of any Lender, (e) any Debt Fund Affiliate to the extent
permitted by Section 9.05(g) or Section 9.05(h) and (f) to the extent permitted under Section 9.05(g), any Affiliated
Lender; provided that in any event, “Eligible Assignee” shall not include (i) any natural Person, or a
holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural Person, (ii) any
Disqualified Institution or (iii) except as permitted under Section 9.05(g) or Section 9.05(h), the Borrower or any
of its Affiliates.

 

“Environmental
Claim” means any investigation, notice, notice of violation, claim, action, suit, proceeding, demand, abatement order
or other order or directive (conditional or otherwise), by any Governmental Authority or any other Person, arising (a) pursuant
to or in connection with any actual or alleged violation of any Environmental Law or actual or alleged Environmental Liability;
(b) in connection with any Hazardous Material or any actual or alleged Hazardous Materials Activity; or (c) in connection
with any actual or alleged damage, injury, threat or harm to health, safety, natural resources or the environment.

 

“Environmental
Laws” means any and all applicable Requirements of Law and Governmental Authorizations relating to (a) environmental
matters, including those relating to pollution or protection of the environment or to any Hazardous Materials Activity; or (b) the
generation, use, storage, transportation or disposal of or exposure to hazardous or toxic wastes or materials.

 

    	 	23 	 

     

    

 

“Environmental
Liability” means any liability, contingent or otherwise (including any liability for damages, costs of environmental
remediation, fines, penalties or indemnities), directly or indirectly resulting from, based upon or relating to (a) any Environmental
Law, (b) any Hazardous Material Activities, (c) exposure to any Hazardous Materials, or (d) any contract pursuant
to which liability is assumed or imposed with respect to any of the foregoing.

 

“Equity Contributions”
means, collectively, (i) the Closing Date Investor Equity Contributions and (ii) the Sponsor Equity Contributions.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974.

 

“ERISA Affiliate”
means, as applied to any Person, (a) any corporation which is a member of a controlled group of corporations within the meaning
of Section 414(b) of the Code of which that Person is a member; (b) any trade or business (whether or not incorporated)
which is a member of a group of trades or businesses under common control within the meaning of Section 414(c) of the Code
of which that Person is a member; and (c) any member of an affiliated service group within the meaning of Section 414(m) or
(o) of the Code of which that Person, any corporation described in clause (a) above or any trade or business described in
clause (b) above is a member. For the avoidance of doubt, when any provision of this Agreement relates to a past event or
period of time, the term “ERISA Affiliate” includes any person who was, as to the time of such past event or period
of time, an “ERISA Affiliate” within the meaning of the preceding sentence.

 

“ERISA Event”
means (a) a “reportable event” within the meaning of Section 4043 of ERISA and the regulations issued thereunder
with respect to any Pension Plan (excluding those for which the 30-day notice period has been waived); (b) the failure to
meet the minimum funding standard of Sections 412 or 430 of the Code or Sections 302 or 303 of ERISA with respect to any Pension
Plan (whether or not waived in accordance with Section 412(c) of the Code); (c) the occurrence of a non-exempt prohibited
transaction within the meaning of Section 4975 of the Code or Section 406 of ERISA with respect to which the Borrower or any of
its Restricted Subsidiaries is a “disqualified person” (within the meaning of Section 4975 of the Code) or a “party
in interest” (within the meaning of Section 3(14) of ERISA); (d) the provision by the administrator of any Pension Plan
pursuant to Section 4041(a)(2) or Section 302 of ERISA of a notice of intent to terminate such plan in a distress termination
described in Section 4041(c) of ERISA; (e) the withdrawal by the Borrower or any of its Restricted Subsidiaries or any
of their respective ERISA Affiliates from any Pension Plan with two or more contributing sponsors or the termination of any such
Pension Plan resulting in liability to the Borrower or any of its Restricted Subsidiaries or any of their respective ERISA Affiliates
pursuant to Section 4063 or 4064 of ERISA; (f) the institution by the PBGC of proceedings to terminate any Pension Plan or
to appoint a trustee to administer any Pension Plan under Section 4042 of ERISA; (g) the imposition of liability on the Borrower
or any of its Restricted Subsidiaries or any of their respective ERISA Affiliates pursuant to Section 4062(e) or 4069 of ERISA
or by reason of the application of Section 4212(c) of ERISA; (h) a complete or partial withdrawal (within the meaning of Sections
4203 and 4205 of ERISA) of the Borrower or any of its Restricted Subsidiaries or any of their respective ERISA Affiliates from
any Multiemployer Plan if there is any potential liability therefor under Title IV of ERISA, or the receipt by the Borrower or
any of its Restricted Subsidiaries or any of their respective ERISA Affiliates of notice from any Multiemployer Plan that it is
“insolvent” (within the meaning of Section 4245 of ERISA) or in “endangered” or “critical”
status (within the meaning of Section 432 of the Code or Section 305 of ERISA), or that it intends to terminate or has terminated
under Section 4041A or 4042 of ERISA; (i) the incurrence of liability or the imposition of a Lien pursuant to Section 436
or 430(k) of the Code or pursuant to ERISA with respect to any Pension Plan; (j) any Foreign Benefit Event; or (k) any other event
or condition with respect to a Pension Plan or Multiemployer Plan that could result in liability of the Borrower or any of its
Restricted Subsidiaries.

 

    	 	24 	 

     

    

 

“EU Bail-In
Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor
person), as in effect from time to time.

 

“Eurodollar
Rate” means, for any Interest Period:

 

(a)           in
the case of any Eurodollar Rate Loan: means, for any Interest Period with respect to any Eurodollar Rate Loan, the rate per
annum determined by the Administrative Agent at approximately 11:00 a.m. (London time) on the date that is two (2) Business Days
prior to the commencement of such Interest Period by reference to the ICE Benchmark Administration London Interbank Offered Rate
for deposits in Dollars (as set forth by any service selected by the Administrative Agent that has been nominated by the ICE Benchmark
Administration (or the successor thereto if the ICE Benchmark Administration is no longer making a London Interbank Offered Rate
available) as an authorized information vendor for the purpose of displaying such rates) for a period equal to such Interest Period;
provided, that, if the Eurodollar Rate shall not be available at such time for such Interest Period (an “Impacted
Interest Period”), then the Eurodollar Rate shall be the Interpolated Rate; and

 

(b)          for
any interest calculation with respect to an ABR Loan on any date: means, on any day (or if such day is not a Business Day,
the immediately preceding Business Day) the rate per annum determined by the Administrative Agent at approximately 11:00 a.m. (London
time) on such date by reference to the ICE Benchmark Administration London Interbank Offered Rate for deposits in Dollars with
a term of one month (as set forth by any service selected by the Administrative Agent that has been nominated by the ICE Benchmark
Administration (or the successor thereto if the ICE Benchmark Administration is no longer making a London Interbank Offered Rate
available) as an authorized information vendor for the purpose of displaying such rates) for a period equal to such Interest Period.

 

“Event of
Default” has the meaning assigned to such term in Article 7.

 

“Excess Cash
Flow” means, for any Excess Cash Flow Period, an amount (if positive) equal to:

 

(a)           the
sum, without duplication, of the amounts for such period of the following:

 

(i)           Consolidated
Adjusted EBITDA of the Borrower and its Restricted Subsidiaries for such period without giving effect to clause (b)(ix)
of the definition thereof, plus

 

(ii)          the
Consolidated Working Capital Adjustment for such period, plus

 

    	 	25 	 

     

    

 

(iii)        cash
gains of the type described in clauses (a), (c), (d), and (l) of the definition of “Consolidated
Net Income”, to the extent not otherwise included in calculating Consolidated Adjusted EBITDA (except to the extent such
gains consist of proceeds utilized in calculating Net Proceeds or Net Insurance/Condemnation Proceeds subject to Sections 2.08(b)(ii)
and (iii)), plus

 

(iv)        to
the extent not otherwise included in the calculation of Consolidated Adjusted EBITDA for such period, cash payments received by
the Borrower or any of its Restricted Subsidiaries with respect to amounts deducted from Excess Cash Flow in a prior period pursuant
to clause (b)(vii) below, minus

 

(b)          the
sum, without duplication, of the amounts for such period of the following:

 

(i)           (x)
the aggregate amount of all principal payments of Indebtedness of the Borrower and its Restricted Subsidiaries made during such
period (including (1) scheduled repayments of the Term Loans under Section 2.07(a) and (2) prepayments of the Term Loans
under Section 2.08(b)(ii) to the extent required due to a Disposition that resulted in an increase to Consolidated Net
Income and not in excess of the amount of such increase, but excluding (1) any other prepayment of the Term Loans and (2) all
repayments and prepayments in respect of the ABL Facility (except to the extent there is an equivalent permanent reduction in
the commitments thereunder)) and (y) except to the extent deducted pursuant to Section 2.08(b)(i)(B)(2), the amount of any reduction
in the outstanding principal amount of the Term Loans resulting from assignments or contributions to Holdings, Intermediate Holdings,
the Borrower or its subsidiaries pursuant to Section 9.05(g) or Section 9.05(h), in each case under this clause (y) in
an amount equal to the lesser of the actual amount of Cash paid by Holdings, Intermediate Holdings, the Borrower or its subsidiaries
in connection with such assignments or contributions and the applicable reduction (except, in each case, to the extent financed
with long-term Indebtedness), plus

 

(ii)         without
duplication of amounts deducted from Excess Cash Flow pursuant to this clause (ii) or clause (ix) below in respect of a prior period,
all Cash payments in respect of capital expenditures as would be reported in Holdings’ consolidated statement of cash flows
made during such period and, at the option of the Borrower, any Cash payments in respect of any such capital expenditures made
after such period and prior to the date of the applicable Excess Cash Flow payment (except, in each case, to the extent financed
with long-term Indebtedness), plus

 

(iii)         consolidated
interest expense added back pursuant to clause (b)(ii) of the definition of “Consolidated Adjusted EBITDA” to the extent
paid in Cash, plus

 

(iv)         Taxes
paid and any provision for Taxes, including income, capital, state, franchise and similar Taxes, property Taxes and foreign withholding
Taxes (including (i) penalties and interest related to any such Tax or arising from any Tax examination and (ii) pursuant to any
Tax sharing arrangement, in each case permitted by Section 6.04(a)(i)) of such Person paid or accrued during such period,
to the extent payable in Cash with respect to such period, plus

 

    	 	26 	 

     

    

 

(v)         without
duplication of amounts deducted from Excess Cash Flow pursuant to this clause (v) or clause (ix) below in respect of a prior period,
Cash payments made during such period in respect of Permitted Acquisitions and other Investments (including Investments in joint
ventures) permitted by Section 6.06 or otherwise consented to by the Required Lenders (other than Investments in (x) Cash
and Cash Equivalents and (y) the Borrower or any of its Restricted Subsidiaries), and, at the option of the Borrower, any
Cash payments in respect of Permitted Acquisitions and other Investments (including Investments in joint ventures) permitted by
Section 6.06 or otherwise consented to by the Required Lenders (other than Investments in (x) Cash and Cash Equivalents
and (y) the Borrower or any of its Restricted Subsidiaries) made after such period and prior to the date of the applicable
Excess Cash Flow payment (except, in each case, to the extent financed with long-term Indebtedness), plus

 

(vi)        the
aggregate amount of all Restricted Payments made under Sections 6.04(a)(i), (ii) and (iv) or otherwise consented
to by the Required Lenders in each case to the extent actually paid in Cash during such period, and, at the option of the Borrower,
made after such period and prior to the date of the applicable Excess Cash Flow payment (except, in each case, to the extent financed
with long-term Indebtedness), plus

 

(vii)        amounts
added back under clauses (b)(iv)(C) or (b)(xvi) of the definition of “Consolidated Adjusted EBITDA” to the extent such
amounts have not yet been received by the Borrower or its Restricted Subsidiaries in Cash, plus

 

(viii)       an
amount equal to all expenses, charges and losses either (A) excluded in calculating Consolidated Net Income or (B) added back in
calculating Consolidated Adjusted EBITDA, in each case, to the extent paid or payable in Cash, plus

 

(ix)          without
duplication of amounts deducted from Excess Cash Flow in respect of a prior period, at the option of the Borrower, the aggregate
consideration required to be paid in Cash by the Borrower or its Restricted Subsidiaries pursuant to binding contracts (the “Contract
Consideration”) entered into prior to or during such period relating to capital expenditures, acquisitions or Investments
permitted by Section 6.06 or otherwise consented to by the Required Lenders (other than Investments in (x) Cash and
Cash Equivalents and (y) the Borrower or any of its Restricted Subsidiaries) to be consummated or made during the period of four
consecutive Fiscal Quarters of the Borrower following the end of such period (except, in each case, to the extent financed with
long-term Indebtedness); provided that to the extent the aggregate amount actually utilized to finance such capital expenditures,
acquisitions or Investments during such subsequent period of four consecutive Fiscal Quarters is less than the Contract Consideration,
the amount of such shortfall shall be added to the calculation of Excess Cash Flow at the end of such subsequent period of four
consecutive Fiscal Quarters, plus

 

    	 	27 	 

     

    

 

(x)           to
the extent not expensed (or exceeding the amount expensed) during such period or not deducted (or exceeding the amount deducted)
in calculating Consolidated Net Income or Consolidated Adjusted EBITDA, the aggregate amount of expenditures, fees, costs and expenses
paid in Cash by the Borrower and its Restricted Subsidiaries during such period, other than to the extent financed with long-term
Indebtedness, plus

 

(xi)          Cash
payments (other than in respect of Taxes, which are governed by clause (iv) above) made during such period for any liability the
accrual of which in a prior period did not reduce Consolidated Adjusted EBITDA and therefore increased Excess Cash Flow in such
prior period (provided there was no other deduction to Consolidated Adjusted EBITDA or Excess Cash Flow related to such payment),
except to the extent financed with long-term Indebtedness, plus

 

(xii)         Cash
expenditures in respect of any Hedge Agreement during such period to the extent (A) not otherwise deducted in the calculation of
Consolidated Net Income or Consolidated Adjusted EBITDA and (B) not financed with long-term Indebtedness, plus

 

(xiii)        Cash
payments made by the Borrower or its Restricted Subsidiaries during such period in respect of long-term liabilities, including
for purposes of clarity, the current portion of any such liabilities (other than Indebtedness) of the Borrower or its Restricted
Subsidiaries, except to the extent such cash payments were (A) deducted in the calculation of Consolidated Net Income or Consolidated
Adjusted EBITDA for such period or (B) financed with long-term Indebtedness.

 

“Excess Cash
Flow Period” means (i) the period commencing on the Closing Date and ending on the last day of the Fiscal Year ending
on or about October 31, 2019 and (ii) each Fiscal Year thereafter.

 

“Exchange
Act” means the Securities Exchange Act of 1934 and the rules and regulations of the SEC promulgated thereunder.

 

“Excluded
Assets” means each of the following:

 

(a)           any
asset the grant or perfection of a security interest in which would (i) be prohibited by enforceable anti-assignment provisions
set forth in any contract that is permitted or otherwise not prohibited by the terms of this Agreement, (ii) violate the terms
of any contract relating to such asset that is permitted or otherwise not prohibited by the terms of this Agreement or (iii) trigger
termination of any contract relating to such asset that is permitted or otherwise not prohibited by the terms of this Agreement
pursuant to any “change of control” or similar provision; it being understood that the term “Excluded Asset”
shall not include proceeds or receivables arising out of any contract described in this clause (a) to the extent that the
assignment of such proceeds or receivables is expressly deemed to be effective under the UCC or other applicable Requirements of
Law notwithstanding the relevant prohibition, violation or termination right,

 

    	 	28 	 

     

    

 

(b)          the
Capital Stock of any (i) Captive Insurance Subsidiary, (ii) Unrestricted Subsidiary, and/or (iii) not-for-profit
subsidiary, in each case except to the extent that such person is a Loan Guarantor or a security interest therein can be perfected
by the filing of UCC financing statements without violating or conflicting with any agreement or instrument to which such entity
or the Capital Stock thereof are subject,

 

(c)           any
intent-to-use (or similar) Trademark application prior to the filing and acceptance of a “Statement of Use”, “Amendment
to Allege Use” or similar filing with respect thereto, to the extent, if any, that, and solely during the period, if any,
in which the grant of a security interest therein may impair the validity or enforceability of such intent-to-use Trademark application
under applicable law,

 

(d)          governmental
licenses and state or local franchises, charters and authorizations, and any other property and asset, the grant or perfection
of a security interest in which would (i) require any governmental consent, approval, license or authorization that has not been
obtained, (ii) be prohibited by enforceable anti-assignment provisions of applicable Requirements of Law, except, in the case of
this clause (ii), to the extent such requirement or prohibition would be rendered ineffective under the UCC or other applicable
Requirements of Law notwithstanding such requirement or prohibition or (iii) result in material adverse tax consequences to any
Loan Party as reasonably determined by the Borrower (in consultation with the Administrative Agent),

 

(e)           any
Excluded Real Property,

 

(f)           any
interest in any joint venture or non-Wholly-Owned Subsidiary,

 

(g)           any
Margin Stock,

 

(h)           any
Cash or Cash Equivalents maintained in or credited to any Deposit Account or Securities Account that are comprised solely of (i)
funds used or to be used for payroll and payroll taxes and other employee benefit payments to or for the benefit of any Loan Party’s
employees, (ii) funds used or to be used to pay all Taxes required to be collected, remitted or withheld (including U.S. federal
and state withholding Taxes (including the employer’s share thereof)) and (iii) any other funds which any Loan Party holds
as an escrow or fiduciary for the benefit of another Person in the ordinary course of business,

 

(i)           any
asset with respect to which the Administrative Agent and the Borrower have reasonably determined that the cost, burden, difficulty
or consequence (including any effect on the ability of the relevant Loan Party to conduct its operations and business in the ordinary
course of business) of obtaining or perfecting a security interest therein outweighs the benefit of a security interest to the
relevant Secured Parties afforded thereby, which determination is evidenced in writing,

 

(j)           Commercial
Tort Claims with a value (as reasonably estimated by the Borrower) of less than $2,500,000,

 

(k)           any
lease, license or agreement or any asset subject to a purchase money security interest, Capital Lease or similar arrangement that
is, in each case, permitted by this Agreement to the extent that the grant of a security interest therein would violate or invalidate
such lease, license or agreement or purchase money, Capital Lease or similar arrangement or trigger a right of termination in favor
of any other party thereto after giving effect to the applicable anti-assignment provisions the UCC or any other applicable Requirement
of Law,

 

    	 	29 	 

     

    

 

(l)           the
Capital Stock of (i) any CFC of the Borrower and (ii) any CFC Holdco, in each case, in excess of 65% of the issued and
outstanding voting Capital Stock and 100% of the issued and outstanding non-voting Capital Stock in any such Person,

 

(m)          Letter-of-Credit
Rights with a value less than $2,500,000 (other than those constituting supporting obligations of other Collateral as to which
perfection of the security interest in such other Collateral may be accomplished by the filing of a UCC-1 financing statement),
and

 

(n)          except
to the extent perfected by filing of a UCC-1 financing statement, any assets located outside the United States or assets that require
action under the law of any non-U.S. jurisdiction to create or perfect a security interest in such assets under such non-U.S. jurisdiction,
including any intellectual property registered in any non-U.S. jurisdiction.

 

Notwithstanding the
foregoing, no such asset shall constitute an “Excluded Asset” unless it also constitutes an “Excluded Asset”
(or equivalent term) with respect to the U.S. “Loan Parties” (or equivalent term) under the ABL Facility.

 

“Excluded
Real Property” means any Real Estate Asset which (i) is a leasehold Real Estate Asset or (ii) is not a Material
Real Estate Asset; provided that no Real Estate Asset acquired after the Closing Date which constitutes a Material Real
Estate Asset shall be deemed to be Excluded Real Property.

 

“Excluded
Subsidiary” means

 

(a)           any
Restricted Subsidiary that is not a Wholly-Owned Subsidiary,

 

(b)           any
Restricted Subsidiary:

 

(i)            that
(i) is prohibited by (A) any Requirement of Law or (B) any Contractual Obligation that, in the case of this clause (B),
exists on the Closing Date or at the time such Restricted Subsidiary becomes a subsidiary (which Contractual Obligation was not
entered into in contemplation of such Restricted Subsidiary becoming a subsidiary) from providing a Loan Guaranty,

 

(ii)           that
would require a governmental consent, approval, license or authorization (including any regulatory consent, approval, license or
authorization) to provide a Loan Guaranty (including any regulatory consent, approval, license or authorization) unless such consent,
approval, license or authorization has been obtained, or

 

(iii)          that
is formed or acquired after the Closing Date where the provision by such Restricted Subsidiary of a Loan Guaranty would result
in material adverse tax consequences as reasonably determined by the Borrower (in consultation with the Administrative Agent),
written notice of which determination has been provided by the Borrower to the Administrative Agent,

 

    	 	30 	 

     

    

 

(c)           any
not-for-profit subsidiary,

 

(d)           any
Captive Insurance Subsidiary,

 

(e)           any
Foreign Subsidiary,

 

(f)           (i)
any CFC Holdco and/or (ii) any Domestic Subsidiary that is a direct or indirect subsidiary of (A) a Foreign Subsidiary that is
a CFC or (B) a CFC Holdco,

 

(g)           any
Unrestricted Subsidiary,

 

(h)           any
Immaterial Subsidiary, and

 

(i)            any
other Restricted Subsidiary with respect to which, in the reasonable judgment of the Administrative Agent and the Borrower, the
burden or cost of providing a Loan Guaranty outweighs the benefits afforded thereby.

 

Notwithstanding the
foregoing, except with respect to any Restricted Subsidiary of the Borrower that is organized in the United Kingdom and is a borrower
or provides a guaranty under the ABL Facility, no subsidiary shall be an “Excluded Subsidiary” unless it also constitutes
an “Excluded Subsidiary” (or equivalent term) for the purpose of the ABL Facility.

 

“Excluded
Swap Obligation” means, with respect to any Loan Guarantor, any Swap Obligation if, and to the extent that, all or a
portion of the Loan Guaranty of such Loan Guarantor of, or the grant by such Loan Guarantor of a security interest to secure, such
Swap Obligation (or any Loan Guaranty thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or
order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such
Loan Guarantor’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity
Exchange Act and the regulations thereunder (determined after giving effect to Section 3.20 of the Loan Guaranty and any
other “keepwell”, support or other agreement for the benefit of such Loan Guarantor) at the time the Loan Guaranty
of such Loan Guarantor or the grant of such security interest becomes effective with respect to such Swap Obligation. If a Swap
Obligation arises under a master agreement governing more than one swap, such exclusion shall apply only to the portion of such
Swap Obligation that is attributable to swaps for which such Loan Guaranty or security interest is or becomes illegal.

 

“Excluded
Taxes” means, with respect to the Administrative Agent or any Lender or any other recipient of any payment to be made
by or on account of any obligation of any Loan Party under any Loan Document, (a) Taxes imposed on (or measured by) its net income
(however denominated) or franchise Taxes (i) imposed as a result of such recipient being organized under the laws of, or
having its principal office located in or, in the case of any Lender, having its applicable lending office located in, the applicable
jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) any branch
profits Taxes imposed under Section 884(a) of the Code or any similar Tax imposed by any jurisdiction described in clause (a),
(c) in the case of a Lender, any U.S. federal withholding Taxes that are imposed on amounts payable to or for the account of such
Lender with respect to an applicable interest in the Loan or Commitment pursuant to a Requirement of Law in effect at the time
such Lender (i) acquires such interest in the Loan or Commitment (other than pursuant to an assignment request under Section
2.16) or (ii) designates a new lending office, except in each case to the extent that the relevant Lender (or its assignor,
if any) was entitled, immediately prior to the designation of a new lending office (or assignment), to receive additional amounts
from any Loan Party with respect to such withholding tax pursuant to Section 2.14, (d) any tax imposed as a result of a
failure by such Lender or Administrative Agent to comply with Section 2.14(f) and (e) any U.S. federal withholding tax
under FATCA.

 

    	 	31 	 

     

    

 

“Expected
Cost Savings” has the meaning assigned to such term in the definition of “Consolidated Adjusted EBITDA”.

 

“Extended
Term Loans” has the meaning assigned to such term in Section 2.20(a)(i).

 

“Extension”
has the meaning assigned to such term in Section 2.20(a).

 

“Extension
Amendment” means an amendment to this Agreement that is reasonably satisfactory to the Administrative Agent (for purposes
of giving effect to Section 2.20) and the Borrower executed by each of (a) Holdings, Intermediate Holdings, the Borrower
and the Subsidiary Guarantors, (b) the Administrative Agent and (c) each Lender that has accepted the applicable Extension Offer
pursuant hereto and in accordance with Section 2.20.

 

“Extension
Offer” has the meaning assigned to such term in Section 2.20(a).

 

“Facility”
means any real property (including all buildings, fixtures or other improvements located thereon) now or hereafter owned or leased
by the Borrower or any of its subsidiaries or any of their respective predecessors.

 

“FATCA”
means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively
comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof,
any agreements entered into pursuant to Section 1471(b)(1) of the Code (or any amended or successor version described above),
and any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement, treaty, law,
regulation, convention or other official guidance enacted in any other jurisdiction pursuant to an intergovernmental agreement
between the U.S. and such jurisdiction that facilitates the implementation of the foregoing.

 

“FCPA
has the meaning assigned to such term in Section 3.15(b).

 

“Federal Funds
Effective Rate” means, for any day, the rate calculated by the Federal Reserve Bank of New York based on such day’s
federal funds transactions by depositary institutions (as determined in such manner as the Federal Reserve Bank of New York sets
forth on its public website from time to time) and published on the next succeeding Business Day by the Federal Reserve Bank of
New York as the federal funds effective rate.

 

“Fee Letter”
means that certain Amended and Restated Fee Letter, dated as of September 28, 2018, by and among, inter alios, the Borrower,
the Arrangers and the Administrative Agent, as amended.

 

“Financial
Plan” has the meaning assigned to such term in Section 5.01(h).

 

“First Lien
Leverage Ratio” means the ratio, as of any date of determination, of (a) Consolidated First Lien Debt as of such
date to (b) Consolidated Adjusted EBITDA for the Test Period then most recently ended, in each case of the Borrower and its
Restricted Subsidiaries on a consolidated basis.

 

    	 	32 	 

     

    

 

“Fiscal Quarter”
means a fiscal quarter of any Fiscal Year.

 

“Fiscal Year”
means the fiscal year of Holdings for financial reporting purposes hereunder ending on or about October 31 of each calendar
year.

 

“Fixed Amounts”
has the meaning assigned to such term in Section 1.10(d).

 

“Fixed Incremental
Amount” means, as of any date of determination, (a) the greater of $40,000,000 and 50% of Consolidated Adjusted EBITDA
for the most recently ended Test Period minus (b) the aggregate outstanding principal amount of all Incremental Facilities
and/or Incremental Equivalent Debt incurred or issued in reliance on the Fixed Incremental Amount.

 

“Flood Hazard
Property” means any parcel of any Material Real Estate Asset subject to a Mortgage located in the U.S. in an area designated
by the Federal Emergency Management Agency as having special flood or mud slide hazards.

 

“Foreign Benefit
Event” means, with respect to any Foreign Pension Plan, (a) the existence of unfunded liabilities in excess of the amount
permitted under any applicable law, or in excess of the amount that would be permitted absent a waiver from a Governmental Authority,
(b) the failure to make the required contributions or payments, under any applicable law, on or before the due date for such contributions
or payments, (c) the receipt of a notice by a Governmental Authority relating to the intention to terminate any such Foreign Pension
Plan or to appoint a trustee or similar official to administer any such Foreign Pension Plan, or alleging the insolvency of any
such Foreign Pension Plan, (d) the incurrence of any liability by the Borrower or any of its Restricted Subsidiaries under applicable
law on account of the complete or partial termination of such Foreign Pension Plan or the complete or partial withdrawal of any
participating employer therein, or (e) the occurrence of any transaction that is prohibited under any applicable law and that could
reasonably be expected to result in the incurrence of any liability by the Borrower or any of its Restricted Subsidiaries, or the
imposition on the Borrower or any of its Restricted Subsidiaries of any fine, excise tax or penalty resulting from any noncompliance
with any applicable law.

 

“Foreign Lender”
means any Lender that is not a “United States person” within the meaning of Section 7701(a)(30) of the Code.

 

“Foreign Pension
Plan” means any Plan that under applicable law other than the laws of the United States or any political subdivision
thereof, is required to be funded through a trust or other funding vehicle other than a trust or funding vehicle maintained exclusively
by a Governmental Authority.

 

“Foreign Subsidiary”
means any Restricted Subsidiary that is not a Domestic Subsidiary.

 

“Fund Affiliates”
shall mean, with respect to any Person, any other Person which (a) directly or indirectly, is in Control of, is Controlled by,
or is under common Control with, such Person and (b) is organized by the former such Person (or by a Person Controlling both of
such Persons) primarily for the purpose of making equity or debt investments in one or more companies, but, in each case, not including
any of such Person’s portfolio companies.

 

    	 	33 	 

     

    

 

“GAAP”
means generally accepted accounting principles in the U.S. in effect and applicable to the accounting period in respect of which
reference to GAAP is made.

 

“Governmental
Authority” means any federal, state, municipal, national or other government, governmental department, commission, board,
bureau, court, agency or instrumentality or political subdivision thereof or any entity or officer exercising executive, legislative,
judicial, regulatory or administrative functions of or pertaining to any government or any court, in each case whether associated
with a state or locality of the U.S. or a foreign government.

 

“Governmental
Authorization” means any permit, license, approval, authorization, plan, directive, consent order or consent decree of
or from any Governmental Authority.

 

“Granting
Lender” has the meaning assigned to such term in Section 9.05(e).

 

“Guarantee”
of or by any Person (the “guarantor”) means any obligation, contingent or otherwise, of the Guarantor guaranteeing
or having the economic effect of guaranteeing any Indebtedness or other monetary obligation of any other Person (the “primary
obligor”) in any manner and including any obligation of the guarantor (a) to purchase or pay (or advance or supply
funds for the purchase or payment of) such Indebtedness or other monetary obligation or to purchase (or to advance or supply funds
for the purchase of) any security for the payment thereof, (b) to purchase or lease property, securities or services for the
purpose of assuring the owner of such Indebtedness or other monetary obligation of the payment thereof, (c) to maintain working
capital, equity capital or any other financial statement condition or liquidity of the primary obligor so as to enable the primary
obligor to pay such Indebtedness or other monetary obligation, (d) as an account party in respect of any letter of credit
or letter of guaranty issued to support such Indebtedness or monetary obligation, (e) entered into for the purpose of assuring
in any other manner the obligee in respect of such Indebtedness or other monetary obligation of the payment or performance thereof
or to protect such obligee against loss in respect thereof (in whole or in part) or (f) secured by any Lien on any assets
of such Guarantor securing any Indebtedness or other monetary obligation of any other Person, whether or not such Indebtedness
or other monetary obligation is assumed by such guarantor (or any right, contingent or otherwise, of any holder of such Indebtedness
or other monetary obligation to obtain any such Lien); provided that the term “Guarantee” shall not include
endorsements for collection or deposit in the ordinary course of business, or customary and reasonable indemnity obligations in
effect on the Closing Date or entered into in connection with any acquisition, Disposition or other transaction permitted under
this Agreement (other than such obligations with respect to Indebtedness). The amount of any Guarantee shall be deemed to be an
amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such
Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined
by the guaranteeing Person in good faith.

 

“Hazardous
Materials” means any chemical, material, substance or waste, or any constituent thereof, (i) that is defined, listed
or regulated as hazardous, toxic, a pollutant or a contaminant, or words or similar import under Environmental Law or (ii) exposure
to which is prohibited, limited or regulated by any Environmental Law or any Governmental Authority.

 

“Hazardous
Materials Activity” means any past, current, proposed or threatened activity, event or occurrence involving any Hazardous
Material, including the use, manufacture, possession, storage, holding, presence, existence, location, Release, threatened Release,
discharge, placement, generation, transportation, import, export, processing, construction, treatment, abatement, removal, remediation,
disposal, disposition or handling of any Hazardous Material, and any corrective action or response action with respect to any of
the foregoing.

 

    	 	34 	 

     

    

 

“Hedge Agreement”
means any agreement with respect to any Derivative Transaction, or multiple Derivative Transactions governed by a master agreement,
between Holdings, Intermediate Holdings, the Borrower or any Restricted Subsidiary, as applicable, and any other Person.

 

“Hedging Obligations”
means, with respect to any Person, the obligations of such Person under any Hedge Agreement.

 

“Holdings”
has the meaning assigned to such term in the preamble to this Agreement and shall include any Successor Holdings.

 

“IFRS”
means international accounting standards within the meaning of the IAS Regulation 1606/2002, as in effect from time to time (subject
to the provisions of Section 1.04), to the extent applicable to the relevant financial statements.

 

“Immaterial
Subsidiary” means, as of any date, any Restricted Subsidiary of the Borrower (i) the assets of which do not exceed 2.5%
of the Consolidated Total Assets of the Borrower and its Restricted Subsidiaries and (ii) revenues of which do not exceed 2.5%
of the consolidated revenue of the Borrower and its Restricted Subsidiaries, in each case, for the most recently ended Test Period;
provided that, (i) the Consolidated Total Assets (as so determined) of all Immaterial Subsidiaries shall not exceed 5% of
Consolidated Total Assets of the Borrower and its Restricted Subsidiaries and (ii) the revenue (as so determined) of all Immaterial
Subsidiaries shall not exceed 5% of the consolidated revenue of the Borrower and its Restricted Subsidiaries, in each case, for
the relevant Test Period; provided further that, at all times prior to the first delivery of financial statements pursuant
to Section 5.01(a) or (b), this definition shall be applied based on the pro forma consolidated financial statements
of Holdings delivered pursuant to Section 4.01.

 

“Immediate
Family Member” means, with respect to any individual, such individual’s child, stepchild, grandchild or more remote
descendant, parent, stepparent, grandparent, spouse, former spouse, domestic partner, former domestic partner, sibling, mother-in-law,
father-in-law, son-in-law and daughter-in-law (including adoptive relationships), any trust, partnership or other bona fide estate-planning
vehicle the only beneficiaries of which are any of the foregoing individuals, such individual’s estate (or an executor or
administrator acting on its behalf), heirs or legatees or any private foundation or fund that is controlled by any of the foregoing
individuals or any donor-advised fund of which any such individual is the donor.

 

“Impacted
Interest Period” has the meaning assigned to such term in the definition of “Eurodollar Rate”.

 

“Incremental
Cap” means

 

(a)           the
Fixed Incremental Amount, plus

 

(b)           the
aggregate amount of all voluntary prepayments, repurchases, redemptions and other retirements (including those pursuant to buybacks
in an amount equal to the discounted amount actually paid in respect thereof) of any Term Loans (including resulting from any assignment
of such Term Loans) that are secured on a pari passu basis with the Initial Term Loans (and in the case of any revolving credit
facilities, including the ABL Facility, to the extent accompanied by a permanent reduction of the corresponding commitment) (excluding
prepayments with the proceeds of long-term Indebtedness (other than proceeds of revolving Indebtedness)), plus

 

    	 	35 	 

     

    

 

(c)           an
unlimited amount so long as, in the case of this clause (c), after giving effect to the relevant Incremental Facility or
Incremental Equivalent Debt, (1) if such Incremental Facility or Incremental Equivalent Debt is secured by a Lien on the Term Loan
Priority Collateral that is pari passu with the Lien securing the Secured Obligations, the First Lien Leverage Ratio does not exceed
3.50:1.00, (2) if such Incremental Facility or Incremental Equivalent Debt is secured by a Lien on the Term Loan Priority Collateral
that is junior to the Lien securing the Secured Obligations, the Secured Leverage Ratio does not exceed 3.75:1.00 or (3) if such
Incremental Facility or Incremental Equivalent Debt is unsecured, the Total Leverage Ratio does not exceed 4.20:1.00, in each case
described in this clause (c), calculated on a Pro Forma Basis, including the application of the proceeds thereof (without
“netting” the cash proceeds of the applicable Incremental Facility or Incremental Equivalent Debt on the consolidated
balance sheet of the Borrower).

 

It is understood and
agreed that, at the option of the Borrower, if all or any portion of Incremental Facility or Incremental Equivalent Debt would
be permitted under clause (c) of this definition on the applicable date of determination, such Incremental Facility or Incremental
Equivalent Debt (or the relevant portion thereof) shall be deemed to have been incurred in reliance on clause (c) of this
definition prior to the utilization of any amount available under clause (a) of this definition.

 

“Incremental
Commitment” means any commitment made by a lender to provide all or any portion of any Incremental Facility or Incremental
Loans.

 

“Incremental
Equivalent Debt” means Indebtedness in the form of junior secured or unsecured notes or loans and/or commitments in respect
of any of the foregoing issued, incurred or implemented in lieu of loans under an Incremental Facility; provided, that:

 

(a)           the
aggregate outstanding amount thereof shall not exceed the Incremental Cap,

 

(b)           except
as otherwise agreed by the lenders or holders providing such notes or loans, no Event of Default exists immediately prior to or
after giving effect to such notes or loans,

 

(c)           the
Weighted Average Life to Maturity applicable to such notes or loans (other than customary bridge loans with a maturity date of
no longer than one year; provided, that any loans, notes, securities or other Indebtedness which are exchanged for or otherwise
replace such bridge loans shall be subject to the requirements of this clause (c)) is no shorter than the Weighted Average
Life to Maturity of the then-existing Term Loans,

 

(d)           the
final maturity date with respect to such notes or loans (other than customary bridge loans with a maturity date of no longer than
one year; provided, that any loans, notes, securities or other Indebtedness which are exchanged for or otherwise replace
such bridge loans shall be subject to the requirements of this clause (d)) is no earlier than the Latest Term Loan Maturity
Date on the date of the issuance or incurrence, as applicable, thereof,

 

    	 	36 	 

     

    

 

(e)           any
such Indebtedness may not participate on a greater than pro rata basis in any mandatory prepayment in respect of the Initial Term
Loans (and any Additional Term Loans then subject to ratable repayment requirements), and

 

(f)            no
such Indebtedness may be (x) guaranteed by any Person which is not a Loan Party or (y) secured by any assets other than the Collateral.

 

“Incremental
Facility” means any Incremental Term Facility.

 

“Incremental
Facility Amendment” means an amendment to this Agreement that is reasonably satisfactory to the Administrative Agent
(solely for purposes of giving effect to Section 2.19) and the Borrower executed by each of (a) Holdings, Intermediate Holdings
and the Borrower, (b) the Administrative Agent and (c) each Lender that agrees to provide all or any portion of the Incremental
Facility being incurred pursuant thereto and in accordance with Section 2.19.

 

“Incremental
Loans” means any Incremental Term Loan.

 

“Incremental
Term Facility” has the meaning assigned to such term in Section 2.19(a).

 

“Incremental
Term Loans” has the meaning assigned to such term in Section 2.19(a).

 

“Incurrence-Based
Amounts” has the meaning assigned to such term in Section 1.10(d).

 

“Indebtedness”
as applied to any Person means, without duplication, (a) all indebtedness for borrowed money of such Person; (b) that
portion of obligations with respect to Capital Leases to the extent recorded as a liability on a balance sheet (excluding the footnotes
thereto) of such Person prepared in accordance with GAAP; (c) all obligations of such Person evidenced by bonds, debentures,
notes or similar instruments to the extent the same would appear as a liability on a balance sheet (excluding the footnotes thereto)
of such Person prepared in accordance with GAAP; (d) any obligation owed for all or any part of the deferred purchase price
of property or services which purchase price is (A) due more than six months from the date of incurrence of the obligation in respect
thereof or (B) evidenced by a note or similar written instrument (excluding (i) any earn out obligation or purchase price adjustment
until such obligation (A) becomes a liability on the statement of financial position or balance sheet (excluding the footnotes
thereto) in accordance with GAAP and (B) has not been paid within 60 days after becoming due and payable, (ii) accrued expenses
and trade accounts payable in the ordinary course of business (including on an inter-company basis) and (iii) liabilities associated
with customer prepayments and deposits); (e) all Indebtedness of others secured by any Lien on any asset owned by such Person
regardless of whether the Indebtedness secured thereby have been assumed by such Person or is non-recourse to the credit of such
Person; (f) the face amount of any letter of credit issued for the account of such Person or as to which such Person is otherwise
liable for reimbursement of drawings (except to the extent the relevant reimbursement obligations relate to trade payables and
are satisfied within 3 days following the incurrence thereof); (g) the Guarantee by such Person of the Indebtedness of another;
(h) all obligations of such Person in respect of any Disqualified Capital Stock and (i) all net obligations of such Person
in respect of any Derivative Transaction, including any Hedge Agreement, whether or not entered into for hedging or speculative
purposes; provided that (i) in no event shall obligations under any Derivative Transaction be deemed “Indebtedness”
for any calculation of the Interest Coverage Ratio, First Lien Leverage Ratio, Total Leverage Ratio, the Secured Leverage Ratio
or any other financial ratio under this Agreement and (ii) the amount of Indebtedness of any Person for purposes of clause
(e) shall be deemed to be equal to the lesser of (A) the aggregate unpaid amount of such Indebtedness and (B) the fair market
value of the property encumbered thereby as determined by such Person in good faith. For all purposes hereof, the Indebtedness
of any Person shall include the Indebtedness of any third person (including any partnership in which such Person is a general partner
and any unincorporated joint venture in which such Person is a joint venturer) to the extent such Person would be liable therefor
under applicable Requirements of Law or any agreement or instrument by virtue of such Person’s ownership interest in such
Person, except to the extent the terms of such Indebtedness provided that such Person is not liable therefor; provided that
notwithstanding anything herein to the contrary, the term “Indebtedness” shall not include, and shall be calculated
without giving effect to, the effects of Accounting Standards Codification Topic 815 and related interpretations to the extent
such effects would otherwise increase or decrease an amount of Indebtedness for any purpose hereunder as a result of accounting
for any embedded derivatives created by the terms of such Indebtedness.

 

    	 	37 	 

     

    

 

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

 

“Indemnitee”
has the meaning assigned to such term in Section 9.03(b).

 

“Information”
has the meaning set forth in Section 3.11(a).

 

“Information
Memorandum” means the Confidential Information Memorandum posted to SyndTrak dated October 2018 relating to Holdings,
Intermediate Holdings, the Borrower and their Restricted Subsidiaries and the Transactions.

 

“Initial Term
Lender” means any Lender with an Initial Term Loan Commitment or an outstanding Initial Term Loan.

 

“Initial Term
Loan Commitment” means, with respect to each Term Lender, the commitment of such Term Lender to make Initial Term Loans
hereunder in an aggregate amount not to exceed the amount set forth opposite such Term Lender’s name on the Commitment Schedule
under “Initial Term Commitment”, as the same may be (a) reduced from time to time pursuant to Section 2.06 and
(b) reduced or increased from time to time pursuant to (i) assignments by or to such Term Lender pursuant to Section 9.05
or (ii) increased from time to time pursuant to Section 2.19. The aggregate amount of the Term Lenders’ Initial Term
Loan Commitments on the Closing Date is $357,000,000.

 

“Initial Term
Loans” means the term loans made by the Initial Term Lenders to the Borrower pursuant to Section 2.01.

 

“Institutional
Investor” means an institutional investor that is engaged in making financial investments and is identified by written
notice from the Borrower to the Administrative Agent delivered no later than fifteen (15) calendar days after the Closing Date.

 

“Intellectual
Property Security Agreement” means any agreement executed on or after the Closing Date confirming or effecting the grant
of any Lien on IP Rights owned by any Loan Party to the Administrative Agent, for the benefit of the Secured Parties, in accordance
with this Agreement and the Security Agreement substantially in the form of Exhibit H or the exhibit thereto.

 

    	 	38 	 

     

    

 

“Intercompany
Indebtedness Subordination Agreement” means an Intercompany Indebtedness Subordination Agreement substantially in the
form of Exhibit N.

 

“Intercreditor
Agreement” means the Intercreditor Agreement substantially in the form of Exhibit M, dated as of the Closing
Date, among, inter alios, the ABL Administrative Agent, as agent for the “ABL Secured Parties” referred to therein,
the Administrative Agent, as agent for the “Term Loan Secured Parties” referred to therein, and the Loan Parties from
time to time party thereto.

 

“Interest
Coverage Ratio” means as of any date of determination the ratio for the most recently ended Test Period of (i) Consolidated
Adjusted EBITDA for such Test Period to (ii) consolidated interest expense as outlined in clause (b)(ii) of the definition
of “Consolidated Adjusted EBITDA”, paid during or payable in cash for the most recently ended Test Period; provided
that, for purposes of calculating the Interest Coverage Ratio for any period ending prior to the first anniversary of the Closing
Date, consolidated interest expense shall be an amount equal to consolidated interest expense as outlined in clause (b)(ii)
of the definition of “Consolidated Adjusted EBITDA” from the Closing Date through the date of determination multiplied
by a fraction the numerator of which is 365 and the denominator of which is the number of days from the Closing Date through the
date of determination.

 

“Interest
Election Request” means a request by the Borrower in the form of Exhibit D or such other form reasonably acceptable
to the Administrative Agent to convert or continue a Borrowing in accordance with Section 2.05.

 

“Interest
Payment Date” means (a) with respect to any ABR Loan, the last Business Day of each Fiscal Quarter and the
Latest Maturity Date applicable to such Loan and (b) with respect to any Eurodollar Rate Loan, the last day of the Interest
Period applicable to the Borrowing of which such Loan is a part and, in the case of any Eurodollar Rate Borrowing with an Interest
Period of more than three months’ duration, each day that would have been an Interest Payment Date had successive Interest
Periods of three months’ duration been applicable to such Borrowing.

 

“Interest
Period” means with respect to any Eurodollar Rate Borrowing, the period commencing on the date of such Borrowing and
ending on the numerically corresponding day in the calendar month that is one, two, three or six months (or, to the extent approved
by all relevant affected Lenders, twelve months or a shorter period) thereafter, as the Borrower may elect; provided that
(i) if any Interest Period would end on a day other than a Business Day, such Interest Period shall be extended to the next
succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Interest
Period shall end on the next preceding Business Day and (ii) any Interest Period that commences on the last Business Day of
a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Interest Period)
shall end on the last Business Day of the last calendar month of such Interest Period. For purposes hereof, the date of a Borrowing
initially shall be the date on which such Borrowing is made and thereafter shall be the effective date of the most recent conversion
or continuation of such Borrowing.

 

“Intermediate
Holdings” has the meaning assigned to such term in the preamble to this Agreement and shall include any Successor Intermediate
Holdings.

 

    	 	39 	 

     

    

 

“Interpolated
Rate” means at any time, the rate per annum determined by the Administrative Agent (which determination shall be conclusive
and binding absent manifest error) to be equal to the rate that results from interpolating on a linear basis between: (a) pages
LIBOR01 or LIBOR02 of the Reuters screen for the longest period (for which that Eurodollar Rate is available in Dollars) that is
shorter than the Impacted Interest Period and (b) pages LIBOR01 or LIBOR02 of the Reuters screen for the shortest period (for which
that Eurodollar Rate is available for Dollars) that exceeds the Impacted Interest Period, in each case, at such time; provided
that if the Interpolated Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.

 

“Investment”
means (a) any purchase or other acquisition by the Borrower or any of its Restricted Subsidiaries of any of the Securities
of any other Person, (b) the acquisition by purchase or otherwise (other than any purchase or other acquisition of inventory,
materials, supplies and/or equipment in the ordinary course of business) of all or a substantial portion of the business, property
or fixed assets of any other Person or any division or line of business or other business unit of any other Person and (c) any
loan, advance or capital contribution by the Borrower or any of its Restricted Subsidiaries to any other Person. Subject to Section
5.10, the amount of any Investment shall be the original cost of such Investment, plus the cost of any addition thereto
that would otherwise constitute an Investment, without any adjustments for increases or decreases in value, or write-ups, write-downs
or write-offs with respect thereto, but giving effect to any repayments of principal in the case of any Investment in the form
of a loan and any return of capital or return on Investment in the case of any equity Investment (whether as a distribution, dividend,
redemption or sale but not in excess of the amount of the relevant initial Investment).

 

“IP Rights”
has the meaning assigned to such term in Section 3.05(c).

 

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

 

“Junior Indebtedness”
means any Indebtedness (other than Indebtedness (i) among the Borrower and/or its Restricted Subsidiaries and (ii) under the ABL
Facility) that is expressly subordinated in right of payment to the Obligations with an individual outstanding principal amount
in excess of the Threshold Amount.

 

“Junior Lien
Indebtedness” means any Indebtedness that is secured by a security interest on the Collateral (other than Indebtedness
(i) among the Borrower and/or its Restricted Subsidiaries and (ii) under the ABL Facility) that is expressly junior or subordinated
to the Lien securing the Term Facility with an individual outstanding principal amount in excess of the Threshold Amount.

 

“Latest Maturity
Date” means, as of any date of determination, the latest maturity or expiration date applicable to any Loan or commitment
hereunder at such time, including the latest maturity or expiration date of any Term Loan or Term Commitment.

 

“Latest Term
Loan Maturity Date” means, as of any date of determination, the latest maturity or expiration date applicable to any
term loan or term commitment hereunder at such time, including the latest maturity or expiration date of any Term Loan or any Additional
Term Loan Commitment.

 

“LCA Election”
has the meaning assigned to such term in Section 1.10(c)

 

“LCA Test
Date” has the meaning assigned to such term in Section 1.10(c)

 

    	 	40 	 

     

    

 

“Lead Common
Investor” means that certain equity investor in Holdings party to the Subscription Agreement, dated as of September 7,
2018, among such equity investor, Buyer and Holdings, which agreement has been provided by Buyer to the Administrative Agent on
or prior to the date hereof.

 

“Legal Reservations”
means the application of relevant Debtor Relief Laws, general principles of equity and/or principles of good faith and fair dealing.

 

“Lenders”
means the Term Lenders, any lender with an Additional Term Loan Commitment or an outstanding Additional Term Loan and any other
Person that becomes a party hereto pursuant to an Assignment and Assumption, other than any such Person that ceases to be a party
hereto pursuant to an Assignment and Assumption.

 

“Letter-of-Credit
Right” has the meaning set forth in Article 9 of the UCC.

 

“Lien”
means any mortgage, deed of trust, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other),
charge, or preference, priority or other security interest or preferential arrangement of any kind or nature whatsoever (including
any conditional sale or other title retention agreement, any easement, right of way or other encumbrance on title to real property,
and any Capital Lease having substantially the same economic effect as any of the foregoing), in each case, in the nature of security;
provided that in no event shall an operating lease in and of itself be deemed to constitute a Lien.

 

“Limited Conditionality
Acquisition” means an acquisition or similar Investment, which, pursuant to the terms of the applicable definitive agreement
(the “Subject Agreement”) in respect thereof, is not conditioned on the availability of financing, and which
is designated in writing as a “Limited Conditionality Acquisition” by the Borrower or such Restricted Subsidiary to
the Administrative Agent.

 

“Loan Documents”
means this Agreement, the Fee Letter, any Promissory Note, each Loan Guaranty, the Collateral Documents, any intercreditor agreement
required to be entered into pursuant to the terms of this Agreement to which any Loan Party is a party, each Refinancing Amendment,
each Incremental Facility Amendment, each Extension Amendment and any other document or instrument designated by the Borrower and
the Administrative Agent as a “Loan Document.” Any reference in this Agreement or any other Loan Document to a Loan
Document shall include all appendices, exhibits or schedules thereto.

 

“Loan Guaranty”
means the Guaranty Agreement, substantially in the form of Exhibit I hereto, executed by each Loan Party thereto and the
Administrative Agent for the benefit of the Secured Parties, as supplemented in accordance with the terms of Section 5.12
hereof.

 

“Loan Installment
Date” has the meaning assigned to such term in Section 2.07(a).

 

“Loan Parties”
means Holdings, Intermediate Holdings, Buyer, the Borrower and each Subsidiary Guarantor.

 

“Loan Guarantor”
means Holdings, Intermediate Holdings and any Subsidiary Guarantor.

 

“Loans”
means any Initial Term Loan or any Additional Term Loan.

 

    	 	41 	 

     

    

 

“Management
Equityholders” means the officers, directors, managers, employees and members of management of the Target and its subsidiaries
(i) who have entered into rollover agreements, dated as of September 7, 2018, with Holdings and Buyer, as applicable or (ii) who
are identified by Holdings and Buyer as “Management Equityholders” pursuant to the applicable rollover documentation
by written notice to the Administrative Agent delivered at least two (2) Business Days prior to the Closing Date.

 

“Margin Stock”
has the meaning assigned to such term in Regulation U.

 

“Material
Adverse Effect” means (a) on the Closing Date, a “Material Adverse Effect” (as defined in the Acquisition
Agreement) and (b) after the Closing Date, a material adverse effect on (i) the business, financial condition or results
of operations, in each case, of the Borrower and its Restricted Subsidiaries, taken as a whole, (ii) the rights and remedies
(taken as a whole) of the Administrative Agent under the applicable Loan Documents or (iii) the ability of the Loan Parties
(taken as a whole) to perform their payment obligations under the applicable Loan Documents.

 

“Material
Debt Instrument” means any physical instrument evidencing any Indebtedness for borrowed money which is required to be
pledged and delivered to the Administrative Agent (or its bailee) pursuant to the Security Agreement.

 

“Material
Real Estate Asset” means (a) on the Closing Date, each Real Estate Asset listed on Schedule 1.01(c) and (b) any
“fee-owned” Real Estate Asset acquired by any Loan Party after the Closing Date having a fair market value (as reasonably
determined by the Borrower) in excess of $5,000,000 as of the date of acquisition thereof.

 

“Maturity
Date” means (a) with respect to the Initial Term Loans, the Term Loan Maturity Date, (b) with respect to any Replacement
Term Loans, the final maturity date for such Replacement Term Loans, as the case may be, as set forth in the applicable Refinancing
Amendment, (c) with respect to any Incremental Facility, the final maturity date set forth in the applicable Incremental Facility
Amendment, and (d) with respect to Extended Term Loans, the final maturity date set forth in the applicable Extension Amendment.

 

“Maximum Rate”
has the meaning assigned to such term in Section 9.19.

 

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

 

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

 

“Minimum Extension
Condition” has the meaning assigned to such term in Section 2.20(b).

 

“MNPI”
means material information concerning Holdings, any Subsidiary of Holdings or their securities that has not been disseminated in
a manner making it available to investors generally, within the meaning of Regulation FD under the Securities Act and the Exchange
Act. For purposes of this definition, “material information” means information concerning Holdings, any Subsidiary
of Holdings, or any of their securities, that is material for purposes of the United States federal and state securities laws.

 

“Moody’s”
means Moody’s Investors Service, Inc.

 

    	 	42 	 

     

    

 

“Mortgages”
means any mortgage, deed of trust or other agreement which conveys or evidences a Lien in favor of the Administrative Agent, for
the benefit of the Administrative Agent and the relevant Secured Parties, and in form and substance reasonably acceptable to the
Administrative Agent and the Borrower on any Material Real Estate Asset constituting Collateral.

 

“Multiemployer
Plan” means any employee benefit plan which is a “multiemployer plan” as defined in Section 3(37) of ERISA,
that is subject to the provisions of Title IV of ERISA, and in respect of which the Borrower or any of its Restricted Subsidiaries,
or any of their respective ERISA Affiliates, makes or is obligated to make contributions or with respect to which any of them has
any obligation or liability, contingent or otherwise.

 

“Narrative
Report” means, with respect to the financial statements in respect of which it is delivered, a customary narrative report
describing the operations of Holdings, Intermediate Holdings, the Borrower and its Restricted Subsidiaries for the relevant Fiscal
Quarter or Fiscal Year and for the period from the beginning of the then-current Fiscal Year to the end of the period to which
the relevant financial statements relate.

 

“Net Insurance/Condemnation
Proceeds” means an amount equal to: (a) any Cash payments or proceeds (including Cash Equivalents) received by the Borrower
or any of its Restricted Subsidiaries (i) under any casualty insurance policy in respect of a covered loss thereunder of any
assets of the Borrower or any of its Restricted Subsidiaries or (ii) as a result of the taking of any assets of the Borrower
or any of its Restricted Subsidiaries by any Person pursuant to the power of eminent domain, condemnation or otherwise, or pursuant
to a sale of any such assets to a purchaser with such power under threat of such a taking, minus (b) (i) any actual out-of-pocket
costs incurred by the Borrower or any of its Restricted Subsidiaries in connection with the adjustment, settlement or collection
of any claims of the Borrower or the relevant Restricted Subsidiary in respect thereof, (ii) payment of the outstanding principal
amount of, premium or penalty, if any, and interest and other amounts on any Indebtedness (other than the Loans, Indebtedness under
the ABL Facility and any Indebtedness secured by a Lien on the Collateral that is pari passu with or expressly subordinated to
the Lien on the Collateral securing any Secured Obligation) that is secured by a Lien on the assets in question and that is required
to be repaid or otherwise comes due or would be in default under the terms thereof as a result of such loss, taking or sale, (iii)
in the case of a taking, the reasonable out-of-pocket costs of putting any affected property in a safe and secure position, (iv)
any selling costs and out-of-pocket expenses (including reasonable broker’s fees or commissions, legal fees, transfer and
similar Taxes and the Borrower’s good faith estimate of income Taxes paid or payable (including pursuant to Tax sharing arrangements))
in connection with any sale or taking of such assets as described in clause (a) of this definition and (v) any amounts provided
as a reserve in accordance with GAAP against any liabilities under any indemnification obligation or purchase price adjustments
associated with any sale or taking of such assets as referred to in clause (a) of this definition (provided that
to the extent and at the time any such amounts are released from such reserve, such amounts shall constitute Net Insurance/Condemnation
Proceeds).

 

    	 	43 	 

     

    

 

“Net Proceeds”
means (a) with respect to any Disposition (including any Prepayment Asset Sale), the Cash proceeds (including Cash Equivalents
and Cash proceeds subsequently received (as and when received) in respect of non-cash consideration initially received) received
by the Borrower or any Restricted Subsidiary, net of (i) selling costs and out-of-pocket expenses (including reasonable broker’s
fees or commissions, legal fees, transfer and similar Taxes and the Borrower’s good faith estimate of income Taxes paid or
payable (including pursuant to Tax sharing arrangements) in connection with such Disposition), (ii) amounts provided as a
reserve in accordance with GAAP against any liabilities under any indemnification obligation or purchase price adjustment associated
with such Disposition (provided that to the extent and at the time any such amounts are released from such reserve, such
amounts shall constitute Net Proceeds), (iii) the principal amount, premium or penalty, if any, interest and other amounts
on any Indebtedness (other than the Loans, Indebtedness under the ABL Facility and any other Indebtedness secured by a Lien that
is pari passu or expressly subordinated to the Lien on the Collateral securing the Secured Obligations) which is secured by the
asset sold in such Disposition and which is required to be repaid or otherwise comes due or would be in default and is repaid (other
than any such Indebtedness that is assumed by the purchaser of such asset) and (iv) Cash escrows (until released from escrow
to the Borrower or any of its Restricted Subsidiaries) from the sale price for such Disposition; and (b) with respect to any
issuance or incurrence of Indebtedness or Capital Stock, the Cash proceeds thereof, net of all Taxes and customary fees, commissions,
costs, underwriting discounts and other fees and expenses incurred in connection therewith, in each case, less any withholding
Taxes payable upon the distribution of such amounts to the Borrower or any of its Restricted Subsidiaries.

 

“Non-Consenting
Lender” has the meaning assigned to such term in Section 2.16(b).

 

“Non-Loan
Party Cap” means, with respect to any Indebtedness, as of any date of determination and after giving pro forma effect
thereto and the use of proceeds thereof, an amount for all such Indebtedness incurred on or prior to such date of determination
equal to $10,000,000.

 

“Non-Loan
Party Indebtedness” means Indebtedness incurred by Restricted Subsidiaries that are not Loan Parties pursuant to 6.01(i),
6.01(k) and the proviso to 6.01(q).

 

“Non-Loan
Party Investment Cap” means, with respect to any Investment, as of any date of determination and after giving pro forma
effect thereto, an amount for all such Investments incurred on or prior to such date of determination equal to the greater of $20,000,000
and 25% of Consolidated Adjusted EBITDA for the most recently ended Test Period.

 

“Non-Management
Equityholders” means the individuals who are (i) identified on Exhibit A to the Rollover Agreement, dated as of September
7, 2018, among the rollover holders party thereto, Holdings and Buyer, (ii) identified by Holdings and Buyer as “Non-Management
Equityholders” pursuant to the applicable rollover documentation by written notice to the Administrative Agent delivered
at least two (2) Business Days prior to the Closing Date, and (iii) identified on Schedule I (the “Vendors”) to the
UK Share Purchase Agreement, dated as of September 7, 2018, among the Vendors, Lux Concrete Holdings II S.A R.L. and Holdings.

 

“O’Brien
Acquisition” means the acquisition of certain assets by Brundage-Bone Concrete Pumping, Inc. pursuant to the Asset Purchase
Agreement, dated as of April 20, 2018, by and among Richard O’Brien Companies, Inc., Brundage-Bone Concrete Pumping, Inc.
and the other parties thereto.

 

“Obligations”
means all unpaid principal of and accrued and unpaid interest (including interest accruing during the pendency of any bankruptcy,
insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans,
all accrued and unpaid fees and all expenses, reimbursements, indemnities and all other advances to, debts, liabilities and obligations
of any Loan Party to the Lenders or to any Lender, the Administrative Agent or any indemnified party arising under the Loan Documents
in respect of any Loan, whether direct or indirect (including those acquired by assumption), absolute, contingent, due or to become
due, now existing or hereafter arising.

 

    	 	44 	 

     

    

 

“OFAC”
has the meaning assigned to such term in Section 3.15(a).

 

“Organizational
Documents” means (a) with respect to any corporation, its certificate or articles of incorporation or organization
and its by-laws, (b) with respect to any limited partnership, its certificate of limited partnership and its partnership agreement,
(c) with respect to any general partnership, its partnership agreement, (d) with respect to any limited liability company,
its articles of organization or certificate of formation, and its operating agreement and (e) with respect to any other form
of entity, such other organizational documents required by local Requirements of Law or customary under such jurisdiction to document
the formation and governance principles of such type of entity. In the event that any term or condition of this Agreement or any
other Loan Document requires any Organizational Document to be certified by a secretary of state or similar governmental official,
the reference to any such “Organizational Document” shall only be to a document of a type customarily certified
by such governmental official.

 

“Other Applicable
Indebtedness” has the meaning assigned to such term in Section 2.08(b)(ii).

 

“Other Connection
Taxes” means, with respect to any Lender or Administrative Agent, Taxes imposed as a result of a present or former connection
between such recipient and the jurisdiction imposing such Tax (other than connections arising from such recipient having executed,
delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest
under, engaged in any other transaction pursuant to or enforced any Loan Document or sold or assigned an interest in any Loan or
Loan Document).

 

“Other Taxes”
means all present or future stamp, court, documentary, intangible, recording, filing or similar Taxes arising from any payment
made under any Loan Document or from the execution, delivery, performance, enforcement or registration of, from the receipt or
perfection of a security interest under, or otherwise with respect to, any Loan Document, but excluding any Taxes that are Other
Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 2.16).

 

“Parent Company”
means (a) Holdings and (b) any other Person of which the Borrower is an indirect Wholly-Owned Subsidiary.

 

“Participant”
has the meaning assigned to such term in Section 9.05(c)(i).

 

“Participant
Register” has the meaning assigned to such term in Section 9.05(c)(iii).

 

“Patent”
means any and all (a) patents and patent applications; (b) inventions described and claimed therein, (c)  reissues,
divisions, continuations, renewals, extensions, and continuations-in-part thereof, (d)  income, royalties, damages, claims
and payments now or hereafter due or payable under and with respect thereto, including, without limitation, damages and payments
for past and future infringements thereof, (e)  rights to sue for past, present and future infringements thereof, and (f) 
rights corresponding to any of the foregoing throughout the world.

 

“PBGC”
means the Pension Benefit Guaranty Corporation.

 

    	 	45 	 

     

    

 

“Pension Plan”
means any employee pension benefit plan, as defined in Section 3(2) of ERISA (other than a Multiemployer Plan), which is subject
to the provisions of Title IV of ERISA or Sections 412 or 430 of the Code or Sections 302 or 303 of ERISA and which the Borrower
or any of its Restricted Subsidiaries, or any of their respective ERISA Affiliates, sponsors, maintains or contributes to or has
an obligation to contribute to, or with respect to which any of them has any liability, contingent or otherwise.

 

“Perfection
Certificate” means a certificate substantially in the form of Exhibit E.

 

“Perfection
Certificate Supplement” means a supplement to the Perfection Certificate substantially in the form of Exhibit F.

 

“Perfection
Requirements” means the filing of appropriate financing statements with the office of the Secretary of State or other
appropriate office of the state of organization of each Loan Party, the filing of appropriate grants, assignments, notices or Intellectual
Property Security Agreements with the U.S. Patent and Trademark Office and the U.S. Copyright Office, the proper recording or filing,
as applicable, of Mortgages and fixture filings with respect to any Material Real Estate Asset constituting Collateral and any
notations on certificates of title, in each case in favor of the Administrative Agent for the benefit of the Secured Parties and
the delivery to the Administrative Agent of any stock certificate or promissory note required to be delivered pursuant to the applicable
Loan Documents, together with instruments of transfer executed in blank.

 

“Permitted
Acquisition” means any acquisition made by the Borrower or any of its Restricted Subsidiaries, whether by purchase, merger
or otherwise, of all or substantially all of the assets of, or any business line, unit or division of, any Person or of all of
the outstanding Capital Stock of any Person who is engaged in a Similar Business and becomes a Restricted Subsidiary; provided
that the total consideration paid by Persons that are Loan Parties (a) for the Capital Stock of any Person that does not become
a Loan Party or is not a Loan Party, and (b) in the case of an asset acquisition, assets that are not acquired by any Loan
Party, when taken together with the total consideration for all such Persons and assets so acquired after the Closing Date and
all Investments made since the Closing Date pursuant to Section 6.06(b)(iii) and Section 6.06(p), shall not exceed
the sum of (i) the Non-Loan Party Investment Cap and (ii) amounts otherwise available under Section 6.06 to be invested
in non-Loan Parties (it being understood that amounts utilized under this clause (ii) shall be deemed a utilization of the
applicable basket or exception in Section 6.06); provided that (A) the limitation described in this proviso shall
not apply to any acquisition to the extent (1) any such consideration is financed with the proceeds of sales of the Qualified Capital
Stock of, or common equity capital contributions to, the Borrower or any Restricted Subsidiary (but only to the extent not otherwise
applied to increase the Available Amount or Available Excluded Contribution Amount, or to make Restricted Payments or Restricted
Debt Payments hereunder) or (2) the Person so acquired (or the Person owning the assets so acquired) becomes a Subsidiary Guarantor
within the time periods required by Section 5.12 even though such Person owns Capital Stock in Persons that are not otherwise
required to become Subsidiary Guarantors, if, in the case of this clause (2), at least 70.0% of the Consolidated Adjusted EBITDA
of the Person(s) acquired in such acquisition (or the Persons owning the assets so acquired) (for this purpose and for the component
definitions used in the definition of “Consolidated Adjusted EBITDA”, determined on a consolidated basis for such Person(s)
and their respective Restricted Subsidiaries) is generated by Person(s) that will become Subsidiary Guarantors within the time
periods required by Section 5.12 (i.e., disregarding any Consolidated Adjusted EBITDA generated by Restricted Subsidiaries
of such Persons that are not (or will not become) Subsidiary Guarantors) and (B) in the event that the amount available under the
Non-Loan Party Investment Cap is reduced as a result of any acquisition of any Restricted Subsidiary that does not become a Loan
Party or any assets that are not transferred to a Loan Party and such Restricted Subsidiary subsequently becomes a Loan Party or
such assets are subsequently transferred to a Loan Party, as the case may be, the amount available under the Non-Loan Party Investment
Cap shall be proportionately increased as a result thereof based upon the amount of the Non-Loan Party Investment Cap utilized
with respect to the acquisition of such Person or assets, as the case may be; provided further that no Event of Default then exists
or would result after giving pro forma effect to such acquisition, provided, further, that if such purchase or other acquisition
is a Limited Conditionality Acquisition, and the Borrower makes an LCA Election with respect to such Limited Conditionality Acquisition,
the foregoing condition shall be tested as of the LCA Test Date, so long as upon consummation of such acquisition, no Event of
Default under Section 7.01(a), 7.01(f) (solely with respect to the Borrower) or 7.01(g) (solely with respect
to the Borrower) shall exist.

 

    	 	46 	 

     

    

 

“Permitted
Holders” means, collectively, (i) the Sponsor, (ii) Nuveen Alternatives Advisors, LLC, BBCP Investors, LLC, Lead Common
Investor, Institutional Investors, and their respective Fund Affiliates; and  (iii) the Non-Management Equityholders and the
Management Equityholders  (or, in each case, within sixty (60) days after their death or incapacity, one or more successors
acceptable to the Administrative Agent).

 

“Permitted
Liens” means Liens permitted pursuant to Section 6.02.

 

“Person”
means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental
Authority or any other entity.

 

“Plan”
means an “employee benefit plan” as defined in Section 3(3) of ERISA (regardless of whether such plan is subject
to ERISA) that the Borrower or any of its Restricted Subsidiaries sponsors, maintains or contributes to or has an obligation to
contribute to, or otherwise has liability, contingent or otherwise.

 

“Platform”
has the meaning set forth in Section 5.01.

 

“Prepayment
Asset Sale” means any Disposition by the Borrower or any of its Restricted Subsidiaries made pursuant to Section 6.07(h),
Section 6.07(o) and Section 6.07(x); provided that so long as the ABL Facility is in effect, any such sale
or disposition of any ABL Facility Priority Collateral to the extent the net proceeds of which are required to be applied to repay
the loans under the ABL Facility shall not be considered a “Prepayment Asset Sale” for any purpose under this Agreement.

 

“primary obligor”
has the meaning assigned to such term in the definition of “Guarantee”.

 

“Prime Rate”
means the rate of interest per annum determined from time to time by Credit Suisse as its prime rate in effect at its principal
office in New York City and notified to the Borrower.

 

“Pro Forma
Basis” or “pro forma effect” means, with respect to any determination of the First Lien Leverage Ratio,
the Total Leverage Ratio, the Secured Leverage Ratio, Interest Coverage Ratio or Consolidated Adjusted EBITDA (including component
definitions thereof) that all Subject Transactions shall be deemed to have occurred as of the first day of the applicable Test
Period with respect to any test or covenant for which such calculation is being made and that:

 

    	 	47 	 

     

    

 

(a)          (i) in
the case of (A) any Disposition of all or substantially all Capital Stock of any Restricted Subsidiary of the Borrower or any division
or product line of the Borrower or any of its Restricted Subsidiaries, (B) any designation of a Restricted Subsidiary as an Unrestricted
Subsidiary and (C) the implementation of any Cost Saving Initiative, income statement items (whether positive or negative and including
any Expected Cost Savings) attributable to the property or Person disposed of, designated or otherwise no longer part of the ongoing
operations of the Borrower and its Restricted Subsidiaries as a result of such Subject Transaction, shall be excluded as of the
first day of the applicable Test Period with respect to any test or covenant for which the relevant determination is being made
and (ii) in the case of any acquisition, Investment and/or designation of an Unrestricted Subsidiary as a Restricted Subsidiary
described in the definition of the term “Subject Transaction”, income statement items (whether positive or negative)
attributable to the property or Person subject to such Subject Transaction shall be included as of the first day of the applicable
Test Period with respect to any test or covenant for which the relevant determination is being made; provided that the foregoing
pro forma adjustments may be applied to any such test or covenant solely to the extent that such adjustments are consistent with
the definition of “Consolidated Adjusted EBITDA”,

 

(b)          any
retirement or repayment of Indebtedness shall be deemed to have occurred as of the first day of the applicable Test Period with
respect to any test or covenant for which the relevant determination is being made, and

 

(c)          any
Indebtedness incurred by the Borrower or any of its Restricted Subsidiaries in connection therewith shall be deemed to have occurred
as of the first day of the applicable Test Period with respect to any test or covenant for which the relevant determination is
being made; provided that, (x) if such Indebtedness has a floating or formula rate, such Indebtedness shall have an
implied rate of interest for the applicable Test Period for purposes of this definition determined by utilizing the rate that is
or would be in effect with respect to such Indebtedness at the relevant date of determination (taking into account any interest
hedging arrangements applicable to such Indebtedness), (y) interest on any obligation with respect to any Capital Lease shall
be deemed to accrue at an interest rate reasonably determined by a Responsible Officer of the Borrower to be the rate of interest
implicit in such obligation in accordance with GAAP and (z) interest on any Indebtedness that may optionally be determined
at an interest rate based upon a factor of a prime or similar rate, a Eurodollar interbank offered rate or other rate shall be
determined to have been based upon the rate actually chosen, or if none, then based upon such optional rate chosen by the Borrower.

 

Notwithstanding anything
to the contrary set forth in this definition, for the avoidance of doubt, when calculating the First Lien Leverage Ratio for the
purpose of calculating the Required Excess Cash Flow Percentage, the events described in the immediately preceding paragraph that
occurred subsequent to the end of the applicable Excess Cash Flow Period shall not be given pro forma effect.

 

“Proceeding”
has the meaning assigned to such term in Section 9.03(b).

 

“Projections”
means the financial projections and pro forma financial statements of the Borrower and its subsidiaries included in the Information
Memorandum (or a supplement thereto).

 

“Promissory
Note” means a promissory note of the Borrower payable to any Lender or its registered assigns, in substantially the form
of Exhibit G hereto, evidencing the aggregate outstanding principal amount of Loans of the Borrower to such Lender resulting
from the Loans made by such Lender.

 

    	 	48 	 

     

    

 

“PTE”
means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from
time to time.

 

“Public Company
Costs” means Charges of Holdings, Intermediate Holdings, the Borrower or its subsidiaries associated with, or in anticipation
of, or preparation for, compliance with the requirements of the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated
in connection therewith and Charges relating to compliance with the provisions of the Securities Act and the Exchange Act (and,
in each case, similar Requirements of Law under other jurisdictions), as applicable to companies with equity or debt securities
held by the public, the rules of national securities exchange companies with listed equity or debt securities, directors’
or managers’ compensation, fees and expense reimbursement, indemnities, disbursements, Charges relating to investor relations,
shareholder meetings and reports to shareholders or debtholders, directors’ and officers’ insurance and other executive
costs, legal and other professional fees and listing fees.

 

“Public Lender”
has the meaning set forth in Section 5.01.

 

“Qualified
Capital Stock” of any Person means any Capital Stock of such Person that is not Disqualified Capital Stock.

 

“Qualifying
Offering” means the issuance and sale by the Borrower or any Parent Company of its common Capital Stock in a primary
offering (other than a public offering pursuant to a registration statement on Form S-8) pursuant to which Net Proceeds are received
by any Parent Company and contributed to the Borrower.

 

“Real Estate
Asset” means, at any time of determination, all right, title and interest (fee, leasehold or otherwise) of any Loan Party
in and to real property (including, but not limited to, land, improvements and fixtures thereon).

 

“Refinancing
Amendment” means an amendment to this Agreement that is reasonably satisfactory to the Administrative Agent and the Borrower
executed by (a) Holdings, Intermediate Holdings and the Borrower, (b) the Administrative Agent and (c) each Lender
that agrees to provide all or any portion of the Replacement Term Loans, as applicable, being incurred pursuant thereto and in
accordance with Section 9.02(c).

 

“Refinancing
Indebtedness” has the meaning assigned to such term in Section 6.01(m).

 

“Register”
has the meaning assigned to such term in Section 9.05(b)(iv).

 

“Regulation
D” means Regulation D of the Board as from time to time in effect and all official rulings and interpretations thereunder
or thereof.

 

“Regulation
U” means Regulation U of the Board as from time to time in effect and all official rulings and interpretations thereunder
or thereof.

 

“Regulation
X” means Regulation X of the Board as from time to time in effect and all official rulings and interpretations thereunder
or thereof.

 

“Related Funds”
means with respect to any Lender that is an Approved Fund, any other Approved Fund that is managed by the same investment advisor
as such Lender or by an Affiliate of such investment advisor.

    	 	49 	 

     

    

 

“Related Parties”
means, with respect to any specified Person, such Person’s Affiliates and the respective directors, managers, officers, trustees,
employees, partners, agents, advisors and other representatives of such Person and such Person’s Affiliates (other than,
in any case, any Disqualified Institution).

 

“Release”
means any release, spill, emission, leaking, pumping, pouring, injection, escaping, deposit, disposal, discharge, dispersal, dumping,
leaching or migration of any Hazardous Material into the indoor or outdoor environment (including the abandonment or disposal of
any barrels, containers or other closed receptacles containing any Hazardous Material), including the movement of any Hazardous
Material through the air, soil, sediment, surface water or groundwater.

 

“Replaced
Term Loans” has the meaning assigned to such term in Section 9.02(c).

 

“Replacement
Term Loans” has the meaning assigned to such term in Section 9.02(c).

 

“Representative”
has the meaning assigned to such term in Section 9.13.

 

“Repricing
Transaction” means each of (a) the prepayment, repayment, refinancing, substitution, repricing or replacement of all
or a portion of the Initial Term Loans substantially concurrently with the incurrence or guarantee by any Loan Party of any secured
term loans (including any Replacement Term Loans) having an Effective Yield that is less than the Effective Yield applicable to
the Initial Term Loans so prepaid, repaid, refinanced, substituted, repriced or replaced and (b) any amendment, waiver or other
modification to this Agreement that would have the effect of reducing the Effective Yield applicable to the Initial Term Loans;
provided that the primary purpose of such prepayment, repayment, refinancing, substitution, replacement, amendment, waiver
or other modification was to reduce the Effective Yield applicable to the Initial Term Loans; provided, further,
that in no event shall any such prepayment, repayment, refinancing, substitution, replacement, amendment, waiver or other modification
in connection with a Change of Control or Transformative Acquisition constitute a Repricing Transaction. Any determination by the
Administrative Agent of the Effective Yield for purposes of the definition shall be conclusive and binding on all Lenders, and
the Administrative Agent shall have no liability to any Person with respect to such determination absent bad faith, gross negligence
or willful misconduct.

 

“Required
Excess Cash Flow Percentage” means, with respect to any Excess Cash Flow Period, (a) if the First Lien Leverage Ratio
as of the last day of such Excess Cash Flow Period is greater than 3.70, 75%, (b) if the First Lien Leverage Ratio as of the last
day of such Excess Cash Flow Period is less than or equal to 3.70 and greater than 3.20, 50%, (c) if the First Lien Leverage Ratio
as of the last day of such Excess Cash Flow Period is less than or equal to 3.20 and greater than 2.70, 25%, and (d) if the First
Lien Leverage Ratio as of the last day of such Excess Cash Flow Period is less than or equal to 2.70, 0%; provided that
the calculation of First Lien Leverage Ratio for purposes of this definition shall be subject to the final paragraph of the definition
of “Pro Forma Basis”.

 

“Required
Lenders” means, at any time, Lenders having Loans or unused Commitments representing more than 50% of the sum of the
total Loans and such unused Commitments at such time.

 

    	 	50 	 

     

    

 

“Requirements
of Law” means, with respect to any Person, collectively, the common law and all federal, state, local, foreign, multinational
or international laws, statutes, codes, treaties, rules and regulations, guidelines, ordinances, orders, judgments, writs, injunctions,
decrees (including administrative or judicial precedents or authorities) and the interpretation or administration thereof by, and
other determinations, directives, requirements of any Governmental Authority, in each case that are applicable to or binding upon
such Person or any of its property or to which such Person or any of its property is subject.

 

“Responsible
Officer” means, with respect to any Person, the chief executive officer, the president, the chief financial officer,
the treasurer, any assistant treasurer, any executive vice president, any senior vice president, any vice president or the chief
operating officer of such Person and any other individual or similar official thereof responsible for the administration of the
obligations of such Person in respect of this Agreement, and, as to any document delivered on the Closing Date, shall include any
secretary or assistant secretary or any other individual or similar official thereof with substantially equivalent responsibilities
of a Loan Party. Any document delivered hereunder that is signed by a Responsible Officer of any Loan Party shall be conclusively
presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of such Loan Party, and
such Responsible Officer shall be conclusively presumed to have acted on behalf of such Loan Party.

 

“Responsible
Officer Certification” means, with respect to the financial statements for which such certification is required, the
certification of a Responsible Officer of Holdings that such financial statements fairly present, in all material respects, in
accordance with GAAP, the consolidated financial condition of Holdings as at the dates indicated and its consolidated income and
cash flows for the periods indicated, subject to changes resulting from audit and normal year-end adjustments.

 

“Restricted
Amount” has the meaning set forth in Section 2.08(b)(iv)(B).

 

“Restricted
Debt” has the meaning set forth in Section 6.04(b).

 

“Restricted
Debt Payment” has the meaning set forth in Section 6.04(b).

 

“Restricted
Payment” means (a) any dividend or other distribution on account of any shares of any class of the Capital Stock
of the Borrower, except a dividend payable solely in shares of Qualified Capital Stock to the holders of such class; (b) any
redemption, retirement, sinking fund or similar payment, purchase or other acquisition for value of any shares of any class of
the Capital Stock of the Borrower and (c) any payment made to retire, or to obtain the surrender of, any outstanding warrants,
options or other rights to acquire shares of any class of the Capital Stock of the Borrower now or hereafter outstanding.

 

“Restricted
Subsidiary” means, as to any Person, any subsidiary of such Person that is not an Unrestricted Subsidiary. Unless otherwise
specified, “Restricted Subsidiary” shall mean any Restricted Subsidiary of the Borrower.

 

“Retained
Excess Cash Flow Amount” means, at any date of determination, an amount, not less than zero and determined on a cumulative
basis, that is equal to the aggregate cumulative sum of Excess Cash Flow that is not required to be applied as a mandatory prepayment
under Section 2.08(b)(i) (without giving effect to clause (B)(1) or (B)(2) thereof or to Section 2.08(b)(iv), but
giving effect to the proviso at the end of Section 2.08(b)(i)) for all Excess Cash Flow Periods ending after the Closing
Date and prior to such date of determination.

 

“Rollover
Equity” has the meaning assigned to such term in Section 4.01(o)(iii).

 

    	 	51 	 

     

    

 

“S&P”
means Standard & Poor’s Ratings Services or any successor by merger or consolidation to its business.

 

“Sale and
Lease-Back Transaction” means any transaction under which the Borrower or any of its Restricted Subsidiaries shall, directly
or indirectly, become or remain liable as lessee or as a guarantor or other surety with respect to any lease of any property (whether
real, personal or mixed), whether now owned or hereafter acquired, which the Borrower or the relevant Restricted Subsidiary (a) is
to sell or to transfer to any other Person (other than the Borrower or any of its Restricted Subsidiaries) and (b) intends
to use for substantially the same purpose as the property which has been or is to be sold or transferred by the Borrower or such
Restricted Subsidiary to any Person (other than the Borrower or any of its Restricted Subsidiaries) in connection with such lease.

 

“Sanctions”
means all economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the U.S.
government, including those administered by OFAC or the U.S. Department of State, or (b) the United Nations Security Council, the
European Union, any European Union member state or Her Majesty’s Treasury of the United Kingdom.

 

“Sanctioned
Country” means, at any time, a country, region or territory which is itself the subject or target of any Sanctions (on
the Closing Date, Crimea, Cuba, Iran, North Korea and Syria).

 

“Scheduled
Unavailability Date” has the meaning assigned to such term in Section 2.11(b).

 

“SEC”
means the Securities and Exchange Commission, or any Governmental Authority succeeding to any or all of its functions.

 

“Secured Hedging
Obligations” means all Hedging Obligations (other than any Excluded Swap Obligation) under each Hedge Agreement that
(a) is in effect on the Closing Date between any Loan Party and a counterparty that is the Administrative Agent, a Lender
or an Arranger or any Affiliate of the Administrative Agent, a Lender or an Arranger as of the Closing Date or (b) is entered
into after the Closing Date between any Loan Party and any counterparty that is (or is an Affiliate of) the Administrative Agent,
any Lender or any Arranger at the time such Hedge Agreement is entered into, for which such Loan Party agrees to provide security
and in each case that has been designated to the Administrative Agent in writing by the Borrower as being a Secured Hedging Obligation
for purposes of the Loan Documents, it being understood that each counterparty thereto shall be deemed (A) to appoint the Administrative
Agent as its agent under the applicable Loan Documents and (B) to agree to be bound by the provisions of Article 8, Section
9.03, Section 9.10 and the Intercreditor Agreement as if it were a Lender.

 

“Secured Leverage
Ratio” means the ratio, as of any date of determination, of (a) Consolidated Secured Debt as of such date to (b) Consolidated
Adjusted EBITDA for the Test Period then most recently ended, in each case of the Borrower and its Restricted Subsidiaries on a
consolidated basis.

 

“Secured Obligations”
means all Obligations, together with (a) all Banking Services Obligations and (b) all Secured Hedging Obligations; provided
that Banking Services Obligations and Secured Hedging Obligations shall cease to constitute Secured Obligations on and after the
Termination Date.

 

    	 	52 	 

     

    

 

“Secured Parties”
means (i) the Lenders, (ii) the Administrative Agent, (iii) each counterparty to a Hedge Agreement with a Loan Party
the obligations under which constitute Secured Hedging Obligations, (iv) each provider of Banking Services to any Loan Party
the obligations under which constitute Banking Services Obligations and (v) the beneficiaries of each indemnification obligation
undertaken by any Loan Party under any Loan Document.

 

“Securities”
means any stock, shares, partnership interests, voting trust certificates, certificates of interest or participation in any profit-sharing
agreement or arrangement, options, warrants, bonds, debentures, notes, or other evidences of indebtedness, secured or unsecured,
convertible, subordinated or otherwise, or in general any instruments commonly known as “securities” or any
certificates of interest, shares or participations in temporary or interim certificates for the purchase or acquisition of, or
any right to subscribe to, purchase or acquire, any of the foregoing; provided that “Securities” shall
not include any earn-out agreement or obligation or any employee bonus or other incentive compensation plan or agreement.

 

“Securities
Act” means the Securities Act of 1933 and the rules and regulations of the SEC promulgated thereunder.

 

“Security
Agreement” means the Term Loan Pledge and Security Agreement, substantially in the form of Exhibit J, among the
Loan Parties and the Administrative Agent for the benefit of the Secured Parties.

 

“Similar Business”
means any Person the majority of the revenues of which are derived from a business that would be permitted by Section 6.13
if the references to “Restricted Subsidiaries” in Section 6.13 were read to refer to such Person.

 

“SPC”
has the meaning assigned to such term in Section 9.05(e).

 

“Specified
Acquisition Agreement Representations” means the representations made by or on behalf of the Target, its subsidiaries
or their respective businesses in the Acquisition Agreement as are material to the interests of the Lenders, but only to the extent
that the Borrower or the Borrower’s applicable Affiliate shall have the right (giving effect to applicable cure periods)
to terminate the Borrower’s (or such Affiliate’s) obligations under the Acquisition Agreement or to decline to consummate
the Acquisition as a result of a breach of such representations in the Acquisition Agreement.

 

“Specified
Representations” mean the representations and warranties set forth in Section 3.01(a) (as it relates to organizational
existence of the Loan Parties), Section 3.02 (as it relates to corporate or organizational power or authority (in connection
with the due authorization, execution, delivery and performance of the Loan Documents) and the enforceability thereof), Section
3.03(b)(i), Section 3.08, Section 3.12 (as it relates to the creation, validity and perfection of the security
interests in the Collateral), Section 3.14, Section 3.15(b) (limited to subclause (ii) thereof and the last sentence
thereof solely as it relates to use of proceeds) and Section 3.16.

 

“Sponsor”
means Argand Partners LP, and its affiliates and its funds, partnerships or other co-investment vehicles managed, advised or controlled
by the foregoing.

 

“Sponsor Equity
Contributions” has the meaning assigned to such term in Section 4.01(o)(ii).

 

    	 	53 	 

     

    

 

“Sponsor Fees”
means (i) any fee paid or payable to the Sponsor and its Affiliates pursuant to any Sponsor Management Agreement and (ii) any fee
paid or payable to the Sponsor (or any Person that is an Affiliate of, or otherwise employed by, the Sponsor) that is in respect
of the Sponsor’s (or such Person’s) service as a member of the board of directors (or similar governing body) of Holdings,
Intermediate Holdings, Borrower or any of its Restricted Subsidiaries; provided that (a) the aggregate amount of all such
fees payable pursuant to the foregoing clauses (i) and (ii) in any Fiscal Year shall not exceed $1,000,000, plus the amount
of any such fees that have accrued but were not permitted to be paid under Section 6.08(o) due to the occurrence and continuance
of an Event of Default, and (b) Sponsor Fees shall not include any amounts attributable to the payment or reimbursement of reasonable
out-of-pocket costs to, and indemnities provided on behalf of, the Sponsor or such Person either (x) in connection with management,
monitoring, consulting and advisory services provided by them to Holdings, Intermediate Holdings, Borrower or any of its Restricted
Subsidiaries or (y) serving in its, his or her capacity as a member of the board of directors (or similar governing body) of Holdings,
Intermediate Holdings, Borrower or any of its Restricted Subsidiaries.

 

“Sponsor Management
Agreement” means any management, monitoring, consulting or advisory services agreement entered into from time to time
between the Sponsor and/or its Affiliates and Holdings, Intermediate Holdings, Borrower or any of its Restricted Subsidiaries,
in each case in form and substance reasonably satisfactory to the Administrative Agent, and without giving effect to any amendments,
modifications or supplements thereto unless such amendments, modifications or supplements are in form and substance reasonably
satisfactory to the Administrative Agent.

 

“Statutory
Reserve Rate” means a fraction (expressed as a decimal), the numerator of which is the number one and the denominator
of which is the number one minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or
supplemental reserves) expressed as a decimal established by the Board to which the Administrative Agent is subject with respect
to the Adjusted Eurodollar Rate, for Eurodollar funding (currently referred to as “Eurodollar Liabilities” in Regulation
D). Such reserve percentages shall include those imposed pursuant to such Regulation D. Eurodollar Rate Loans shall be deemed to
constitute Eurodollar funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions
or offsets that may be available from time to time to any Lender under such Regulation D or any comparable regulation. The Statutory
Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve percentage.

 

“Subject Agreement”
has the meaning specified in the definition of “Limited Conditionality Acquisition”.

 

“Subject Loans”
has the meaning assigned to such term in Section 2.08(b)(ii).

 

“Subject Person”
has the meaning assigned to such term in the definition of “Consolidated Net Income”.

 

“Subject Proceeds”
has the meaning assigned to such term in Section 2.08(b)(ii).

 

    	 	54 	 

     

    

 

“Subject Transaction”
means, with respect to any Test Period, (a) the Transactions, (b) any Permitted Acquisition or any other acquisition, whether by
purchase, merger or otherwise, of all or substantially all of the assets of, or any business line, unit or division of, any Person
or of a majority of the outstanding Capital Stock of any Person in each case that occurred prior to the Closing Date or, if consummated
after the Closing Date, is permitted by this Agreement, (c) any Disposition of all or substantially all of the assets or Capital
Stock of any subsidiary (or any business unit, line of business or division of the Borrower or a Restricted Subsidiary) not prohibited
by this Agreement, (d) the designation of a Restricted Subsidiary as an Unrestricted Subsidiary or an Unrestricted Subsidiary as
a Restricted Subsidiary in accordance with Section 5.10 hereof, (e) any incurrence or repayment of Indebtedness in
connection with a transaction that would otherwise constitute a Subject Transaction, (f) the implementation of any Cost Saving
Initiative and/or (g) any other event that by the terms of the Loan Documents requires pro forma compliance with a test or covenant
hereunder or requires such test or covenant to be calculated on a Pro Forma Basis.

 

“subsidiary”
means, with respect to any Person, any corporation, partnership, limited liability company, association, joint venture or other
business entity of which more than 50% of the total voting power of stock or other ownership interests entitled (without regard
to the occurrence of any contingency) to vote in the election of the Person or Persons (whether directors, managers, trustees or
other Persons performing similar functions) having the power to direct or cause the direction of the management and policies thereof
is at the time owned or controlled, directly or indirectly, by such Person or one or more of the other subsidiaries of such Person
or a combination thereof; provided that in determining the percentage of ownership interests of any Person controlled by
another Person, no ownership interests in the nature of a “qualifying share” of the former Person shall be deemed
to be outstanding. Unless otherwise specified, “subsidiary” shall mean any subsidiary of the Borrower.

 

“Subsidiary
Guarantor” means (x) on the Closing Date, each subsidiary of the Borrower (other than any such subsidiary that is an
Excluded Subsidiary on the Closing Date) and (y) thereafter, each subsidiary of the Borrower that becomes a guarantor of the Secured
Obligations pursuant to the terms of this Agreement, in each case, until such time as the relevant subsidiary is released from
its obligations under the Loan Guaranty in accordance with the terms and provisions hereof.

 

“Successor
Borrower” has the meaning assigned to such term in Section 6.07(a).

 

“Successor
Buyer” has the meaning assigned to such term in Section 6.11(d).

 

“Successor
Holdings” has the meaning assigned to such term in Section 6.11(d).

 

“Successor
Intermediate Holdings” has the meaning assigned to such term in Section 6.11(d).

 

“Swap Obligation”
means, with respect to any Loan Guarantor, any obligation to pay or perform under any agreement, contract or transaction that constitutes
a “swap” within the meaning of Section 1a(47) of the Commodity Exchange Act.

 

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

 

“Target Refinancing”
has the meaning assigned to such term in Section 4.01(l).

 

“Taxes”
means any and all present and future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments,
fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.

 

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“Term Commitment”
means any Initial Term Commitment and any Additional Term Loan Commitment.

 

“Term Facility”
means the Term Loans provided to or for the benefit of the Borrower pursuant to the terms of this Agreement.

 

“Term Lender”
means any Initial Term Lender and any Additional Term Lender.

 

“Term Loan”
means the Initial Term Loans and if applicable, any Additional Term Loans.

 

“Term Loan
Maturity Date” means the date that is seven years after the Closing Date.

 

“Term Loan
Priority Collateral” has the meaning assigned to such term in the Intercreditor Agreement.

 

“Termination
Date” has the meaning assigned to such term in the lead-in to Article 5.

 

“Test Period”
means, as of any date, the period of four consecutive Fiscal Quarters then most recently ended for which financial statements under
Section 5.01(a) or (b), as applicable, have been delivered (or are required to have been delivered); it being understood
and agreed that prior to the first delivery of financial statements of Section 5.01(a), “Test Period” means
the period of four consecutive Fiscal Quarters in respect of which financial statements for the Target are available and have been
delivered to the Administrative Agent.

 

“Threshold
Amount” means $30,000,000.

 

“Total Leverage
Ratio” means the ratio, as of any date of determination, of (a) Consolidated Total Debt outstanding as of such date
to (b) Consolidated Adjusted EBITDA for the Test Period then most recently ended, in each case of the Borrower and its Restricted
Subsidiaries on a consolidated basis.

 

“Trademark”
means any and all (a) trademarks (including service marks), common law marks, trade names, trade dress, and logos, slogans
and other indicia of origin under the Requirements of Laws of any jurisdiction in the world, and the registrations and applications
for registration thereof and the goodwill of the business symbolized by the foregoing, (b) renewals of the foregoing, (c) 
income, royalties, damages, and payments now or hereafter due or payable with respect thereto, including, without limitation, damages,
claims, and payments for past and future infringements thereof, (d) rights to sue for past, present and future infringements
of the foregoing, including the right to settle suits involving claims and demands for royalties owing, and (e) rights corresponding
to any of the foregoing throughout the world.

 

“Transaction
Costs” means fees, premiums, expenses and other transaction costs (including original issue discount or upfront fees)
payable or otherwise borne by Holdings and/or its subsidiaries in connection with the Transactions and the transactions contemplated
thereby.

 

“Transactions”
means, collectively, (a) the execution and delivery by the Loan Parties of the Loan Documents to which they are a party and
the borrowing of Initial Term Loans hereunder on the Closing Date, (b) the Merger and the other transactions contemplated
by the Acquisition Agreement, (c) the Equity Contributions, (d) the Target Refinancing, (e) the execution and delivery
by the Loan Parties of the Loan Documents (as defined in the ABL Credit Agreement) to which they are a party and (f) the payment
of Transaction Costs.

 

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“Transformative
Acquisition” means any acquisition or Investment by the Borrower or any Restricted Subsidiary that either (a) is not
permitted by the terms hereof immediately prior to the consummation of such acquisition or Investment or (b) if permitted by the
terms hereof immediately prior to the consummation of such acquisition or Investment, would not provide the Borrower and its subsidiaries
with adequate flexibility under the Loan Documents for the continuation and/or expansion of their combined operations following
such consummation, as determined by the Borrower acting in good faith.

 

“Type”,
when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans comprising
such Borrowing, is determined by reference to the Adjusted Eurodollar Rate or the Alternate Base Rate.

 

“UCC”
means the Uniform Commercial Code as in effect from time to time in the State of New York or any other state the laws of which
are required to be applied in connection with the creation or perfection of security interests.

 

“Unrestricted
Cash Amount” means, as of any date of determination, the amount of (a) unrestricted Cash and Cash Equivalents of the
Borrower and its Restricted Subsidiaries whether or not held in a Deposit Account pledged to secure the Secured Obligations and
(b) Cash and Cash Equivalents of the Borrower and its Restricted Subsidiaries restricted in favor of the Term Facility (which may
also include Cash and Cash Equivalents securing other Indebtedness that is secured by a Lien on the Collateral along with the Term
Facility, including the ABL Facility).

 

“Unrestricted
Subsidiary” means any subsidiary of the Borrower designated by the Borrower as an Unrestricted Subsidiary after the Closing
Date pursuant to Section 5.10.

 

“U.S.”
means the United States of America.

 

“U.S. Tax
Compliance Certificate” has the meaning assigned to such term in Section 2.14(f).

 

“USA PATRIOT
Act” means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism
Act of 2001 (Title III of Pub. L. No. 107-56 (signed into law October 26, 2001)).

 

“Weighted
Average Life to Maturity” means, when applied to any Indebtedness at any date, the number of years obtained by dividing:
(a) the sum of the products obtained by multiplying (i) the amount of each then remaining installment, sinking fund,
serial maturity or other required payments of principal, including payment at final maturity, in respect thereof, by (ii) the
number of years (calculated to the nearest one-twelfth) that will elapse between such date and the making of such payment; by (b) the
then outstanding principal amount of such Indebtedness.

 

“Wholly-Owned
Subsidiary” of any Person means a subsidiary of such Person, 100% of the Capital Stock of which (other than directors’
qualifying shares or shares required by Requirements of Law to be owned by a resident of the relevant jurisdiction) shall be owned
by such Person or by one or more Wholly-Owned Subsidiaries of such Person.

 

“Withholding
Agent” means any Loan Party and the Administrative Agent.

 

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“Write-Down
and Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion powers of such
EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down
and conversion powers are described in the EU Bail-In Legislation Schedule.

 

Section 1.02         Classification
of Loans and Borrowings. For purposes of this Agreement, Loans may be classified and referred to by Class (e.g., an
“Initial Term Loan”) or by Type (e.g., a “Eurodollar Rate Loan”) or by Class and Type (e.g.,
a “Eurodollar Rate Term Loan”). Borrowings also may be classified and referred to by Class (e.g., an “Initial
Term Loan Borrowing”) or by Type (e.g., a “Eurodollar Rate Borrowing”) or by Class and Type (e.g.,
a “Eurodollar Rate Term Loan Borrowing”).

 

Section 1.03         Terms
Generally. The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever
the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,”
“includes” and “including” shall be deemed to be followed by the phrase “without limitation.”
The word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the
context requires otherwise (a) any definition of or reference to any agreement, instrument or other document herein or in
any Loan Document (including any Loan Document and the ABL Credit Agreement) shall be construed as referring to such agreement,
instrument or other document as from time to time amended, restated, amended and restated, supplemented or otherwise modified or
extended, replaced or refinanced (subject to any restrictions or qualifications on such amendments, restatements, amendment and
restatements, supplements or modifications or extensions, replacements or refinancings set forth herein), (b) any reference
to any Requirement of Law in any Loan Document shall include all statutory and regulatory provisions consolidating, amending, replacing,
supplementing or interpreting such Requirement of Law, (c) any reference herein or in any Loan Document to any Person shall
be construed to include such Person’s successors and permitted assigns, and, in the case of any Governmental Authority, any
other Governmental Authority that shall have succeeded to any or all functions thereof, (d) the words “herein,”
“hereof” and “hereunder,” and words of similar import, when used in any Loan Document, shall be construed
to refer to such Loan Document in its entirety and not to any particular provision hereof, (e) all references herein or in
any Loan Document to Articles, Sections, clauses, paragraphs, Exhibits and Schedules shall be construed to refer to Articles, Sections,
clauses and paragraphs of, and Exhibits and Schedules to, such Loan Document, (f) in the computation of periods of time in
any Loan Document from a specified date to a later specified date, the word “from” means “from and including”,
the words “to” and “until” mean “to but excluding” and the word “through” means
“to and including” and (g) the words “asset” and “property”, when used in any Loan Document,
shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties,
including Cash, Cash Equivalents, securities, accounts and contract rights. For purposes of determining compliance at any time
with Sections 6.01, 6.02, 6.03, 6.04, 6.05, 6.06, 6.07 and 6.08, in the
event that any Indebtedness, Lien, contractual restriction, Restricted Payment, Restricted Debt Payment, Investment, Disposition
or Affiliate transaction, as applicable, meets the criteria of more than one of the categories of transactions or items permitted
pursuant to any clause of such Sections 6.01 (other than Sections 6.01(a), (r) and (s)), 6.02
(other than Sections 6.02(a) and (r)), 6.03, 6.04, 6.05, 6.06, 6.07 and 6.08,
the Borrower, in its sole discretion, may, from time to time, classify (but not reclassify) such transaction or item (or portion
thereof) within a covenant and will only be required to include the amount and type of such transaction (or portion thereof) in
any one category. It is understood and agreed that any Indebtedness, Lien, contractual restriction, Restricted Payment, Restricted
Debt Payment, Investment, Disposition and/or Affiliate transaction need not be permitted solely by reference to one category of
permitted Indebtedness, Lien, Restricted Payment, Restricted Debt Payment, Investment, Disposition and/or Affiliate transaction
under Sections 6.01, 6.02, 6.03, 6.04, 6.05, 6.06, 6.07 or 6.08, respectively,
but may instead be permitted in part under any combination thereof.

 

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Section 1.04         Accounting
Terms; GAAP.

 

(a)          All
financial statements to be delivered pursuant to this Agreement shall be prepared in accordance with GAAP as in effect from time
to time and, except as otherwise expressly provided herein, all terms of an accounting or financial nature that are used in calculating
the Interest Coverage Ratio, the First Lien Leverage Ratio, Total Leverage Ratio, the Secured Leverage Ratio or Consolidated Adjusted
EBITDA shall be construed and interpreted in accordance with GAAP, as in effect from time to time; provided that if the
Borrower notifies the Administrative Agent that the Borrower requests an amendment to any provision hereof to eliminate the effect
of any change occurring after the date of delivery of the financial statements described in Section 3.04(a) in GAAP or in
the application thereof (including the conversion to IFRS as described below) on the operation of such provision (or if the Administrative
Agent notifies the Borrower that the Required Lenders request an amendment to any provision hereof for such purpose), regardless
of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall
be interpreted on the basis of GAAP as in effect and applied immediately before such change becomes effective until such notice
shall have been withdrawn or such provision amended in accordance herewith; provided, further, that if such an amendment
is requested by the Borrower or the Required Lenders, then the Borrower and the Administrative Agent shall negotiate in good faith
to enter into an amendment of the relevant affected provisions (without the payment of any amendment or similar fee to the Lenders)
to preserve the original intent thereof in light of such change in GAAP or the application thereof; provided, further,
that all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios
referred to herein shall be made without giving effect to (i) any election under Accounting Standards Codification 825-10-25
(previously referred to as Statement of Financial Accounting Standards 159) (or any other Accounting Standards Codification or
Financial Accounting Standard having a similar result or effect) to value any Indebtedness or other liabilities of the Borrower
or any subsidiary at “fair value,” as defined therein and (ii) any treatment of Indebtedness in respect of convertible
debt instruments under Accounting Standards Codification 470-20 (or any other Accounting Standards Codification or Financial Accounting
Standard having a similar result or effect) to value any such Indebtedness in a reduced or bifurcated manner as described therein,
and such Indebtedness shall at all times be valued at the full stated principal amount thereof. If the Borrower notifies the Administrative
Agent that Holdings is required to report under IFRS or has elected to do so through an early adoption policy, “GAAP”
shall mean international financial reporting standards pursuant to IFRS (provided that after such conversion, Holdings cannot elect
to report under GAAP).

 

(b)          Notwithstanding
anything to the contrary contained in paragraph (a) above or in the definition of “Capital Lease,” only those
leases (assuming for purposes hereof that such leases were in existence on the date hereof) that would constitute Capital Leases
in conformity with GAAP on the Closing Date shall be considered Capital Leases and all calculations and deliverables under this
Agreement or any other Loan Document shall be made or delivered, as applicable, in accordance therewith.

 

Section 1.05         Effectuation
of Transactions. Each of the representations and warranties contained in this Agreement (and all corresponding definitions)
are made after giving effect to the Transactions, unless the context otherwise requires.

 

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Section 1.06         Timing
of Payment of Performance. When payment of any obligation or the performance of any covenant, duty or obligation is stated
to be due or required on a day which is not a Business Day, the date of such payment (other than as described in the definition
of Interest Period) or performance shall extend to the immediately succeeding Business Day, and, in the case of any payment accruing
interest, interest thereon shall be payable for the period of such extension.

 

Section 1.07         Times
of Day. Unless otherwise specified herein, all references herein to times of day shall be references to New York City time
(daylight or standard, as applicable).

 

Section 1.08         Currency
Equivalents Generally.

 

(a)          For
purposes of any determination under Section 2.19, Article 5, Article 6 (other than the calculation of compliance
with any financial ratio for purposes of taking any action hereunder) or Article 6 with respect to the amount of any Indebtedness,
Lien, Restricted Payment, Restricted Debt Payment, Investment, Disposition, Sale and Lease-Back Transaction, affiliate transaction
or other transaction, event or circumstance, or any determination under any other provision of this Agreement, (any of the foregoing,
a “specified transaction”), in a currency other than Dollars, (i) the Dollar equivalent amount of a specified
transaction in a currency other than Dollars shall be calculated based on the rate of exchange quoted by the Bloomberg Foreign
Exchange Rates & World Currencies Page (or any successor page thereto, or in the event such rate does not appear on any
Bloomberg Page, by reference to such other publicly available service for displaying exchange rates as may be agreed upon by the
Administrative Agent and the Borrower) for such foreign currency, as in effect at 11:00 a.m. (London time) on the date of such
specified transaction (which, in the case of any Restricted Payment, shall be deemed to be the date of the declaration thereof
and, in the case of the incurrence of Indebtedness, shall be deemed to be on the date first committed); provided, that if
any Indebtedness is incurred (and, if applicable, associated Lien granted) to refinance or replace other Indebtedness denominated
in a currency other than Dollars, and the relevant refinancing or replacement would cause the applicable Dollar-denominated restriction
to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing or replacement, such
Dollar-denominated restriction shall be deemed not to have been exceeded so long as the principal amount of such refinancing or
replacement Indebtedness (and, if applicable, associated Lien granted) does not exceed an amount sufficient to repay the principal
amount of such Indebtedness being refinanced or replaced, except by an amount equal to (x) unpaid accrued interest and premiums
(including tender premiums) thereon plus other reasonable and customary fees and expenses (including upfront fees and original
issue discount) incurred in connection with such refinancing or replacement, (y) any existing commitments unutilized thereunder
and (z) additional amounts permitted to be incurred under Section 6.01 (it being understood that amounts utilized under
this clause (z) shall be deemed a utilization of the applicable basket or exception to Section 6.01) and (ii) for
the avoidance of doubt, no Default or Event of Default shall be deemed to have occurred solely as a result of a change in the rate
of currency exchange occurring after the time of any specified transaction so long as such specified transaction was permitted
at the time incurred, made, acquired, committed, entered or declared as set forth in clause (i). For purposes of calculation
of compliance with any financial ratio for purposes of taking any action hereunder, on any relevant date of determination, amounts
denominated in currencies other than Dollars shall be translated into Dollars at the applicable currency exchange rate used in
preparing the financial statements delivered pursuant to Section 5.01(a) or (b) (or, prior to the first such delivery,
the financial statements referred to in Section 3.04), as applicable, for the relevant Test Period and will, with respect
to any Indebtedness, reflect the currency translation effects, determined in accordance with GAAP, of any Hedge Agreement permitted
hereunder in respect of currency exchange risks with respect to the applicable currency in effect on the date of determination
for the Dollar equivalent amount of such Indebtedness.

 

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(b)          Each
provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time
to time specify with the Borrower’s consent to appropriately reflect a change in currency of any country and any relevant
market convention or practice relating to such change in currency.

 

Section 1.09         Cashless
Rollovers. Notwithstanding anything to the contrary contained in this Agreement or in any other Loan Document, to the extent
that any Lender extends the maturity date of, or replaces, renews or refinances, any of its then-existing Loans with Incremental
Loans, Replacement Term Loans, Extended Term Loans or loans incurred under a new credit facility, in each case, to the extent that
such extension, replacement, renewal or refinancing is effected by means of a “cashless roll” by such Lender, such
extension, replacement, renewal or refinancing shall be deemed to comply with any requirement hereunder or any other Loan Document
that such payment be made “in Dollars”, “in immediately available funds”, “in Cash” or any
other similar requirement.

 

Section 1.10         Certain
Calculations and Tests.

 

(a)          Notwithstanding
anything to the contrary herein, all financial ratios, calculations and tests (including the Interest Coverage Ratio, First Lien
Leverage Ratio, the Total Leverage Ratio, the Secured Leverage Ratio and Consolidated Adjusted EBITDA) contained in this Agreement
that are calculated with respect to any Test Period during which any Subject Transaction occurs shall be calculated with respect
to such Test Period and such Subject Transaction on a Pro Forma Basis. Further, if since the beginning of any such Test Period
and on or prior to the date of any required calculation of any financial ratio or test (x) any Subject Transaction has occurred
or (y) any Person that subsequently became a Restricted Subsidiary or was merged, amalgamated or consolidated with or into
the Borrower or any of its Restricted Subsidiaries or any joint venture since the beginning of such Test Period has consummated
any Subject Transaction, then, in each case, any applicable financial ratio or test shall be calculated on a Pro Forma Basis for
such Test Period as if such Subject Transaction had occurred at the beginning of the applicable Test Period.

 

(b)          For
purposes of determining the permissibility of any action, change, transaction or event that requires a calculation of any financial
ratio or test (including, without limitation, any Interest Coverage Ratio test, any First Lien Leverage Ratio test, any Secured
Leverage Ratio test, any Total Leverage Ratio test and/or the amount of Consolidated Adjusted EBITDA), such financial ratio or
test shall be calculated at the time such action is taken (subject to clause (a) above), such change is made, such
transaction is consummated or such event occurs, as the case may be, and no Default or Event of Default shall be deemed to have
occurred solely as a result of a change in such financial ratio or test occurring after the time such action is taken, such change
is made, such transaction is consummated or such event occurs, as the case may be.

 

(c)          Notwithstanding
anything to the contrary herein, in connection with any action required to be taken in connection with a Limited Conditionality
Acquisition, for purposes of:

 

(i)          calculating
the Interest Coverage Ratio, First Lien Leverage Ratio, the Secured Leverage Ratio, the Total Leverage Ratio and other financial
calculations (including, but not limited to, for purposes of Section 2.19);

 

    	 	61 	 

     

    

 

(ii)         testing
availability under covenant baskets set forth in this Agreement (including covenant baskets measured as a percentage of Consolidated
Adjusted EBITDA); or

 

(iii)        determining
the accuracy of any representations and warranties, or whether any default or event of default (or any type of default or event
of default) has occurred or is continuing,

 

in each case, at the
option of the Borrower (the Borrower’s election to exercise such option in connection with any Limited Conditionality Acquisition,
an “LCA Election”), the date of determination shall be deemed to be the date of the Subject Agreement (the “LCA
Test Date”), and if, after giving pro forma effect to the Limited Conditionality Acquisition and the other transactions
required to be entered into in connection therewith (including any incurrence or repayment of Indebtedness and the use of proceeds
thereof) as of the LCA Test Date, the Borrower would have been permitted to take such action on the relevant LCA Test Date in compliance
with such ratio, test or basket, such ratio, test or basket shall be deemed to have been complied with. For the avoidance of doubt,
if the Borrower has made an LCA Election and any of the ratios, tests or baskets for which compliance was determined or tested
as of the LCA Test Date are exceeded as a result of fluctuations in any such ratio, test or basket, including due to fluctuations
in Consolidated Adjusted EBITDA of the Borrower or the Person subject to such Limited Conditionality Acquisition, at or prior to
the consummation of the relevant transaction or action, such baskets, tests or ratios will not be deemed to have been exceeded
as a result of such fluctuations. If the Borrower has made an LCA Election for any Limited Conditionality Acquisition, then in
connection with any calculation of any ratio, test or basket availability with respect to any transaction following the relevant
LCA Test Date and prior to the earlier of the date on which such Limited Conditionality Acquisition is consummated or the date
that the Subject Agreement is terminated or expires without consummation of such Limited Conditionality Acquisition, for purposes
of determining whether any such required transaction is permitted under this Agreement, any such ratio, test or basket shall be
calculated on a Pro Forma Basis assuming such Limited Conditionality Acquisition and such other required transaction (including
any incurrence of Indebtedness and the use of proceeds thereof) have been consummated.

 

(d)          Notwithstanding
anything to the contrary herein, with respect to any amounts incurred or transactions entered into (or consummated) in reliance
on a provision of this Agreement that does not require compliance with a financial ratio or test (including, without limitation,
any First Lien Leverage Ratio test, any Secured Leverage Ratio test, any Total Leverage Ratio test or any Interest Coverage Ratio
test) (any such amounts, the “Fixed Amounts”) substantially concurrently with any amounts incurred or transactions
entered into (or consummated) in reliance on a provision of this Agreement in the same covenant that requires compliance with a
financial ratio or test (including, any First Lien Leverage Ratio test, any Secured Leverage Ratio test, any Total Leverage Ratio
test and any Interest Coverage Ratio test) (any such amounts, the “Incurrence-Based Amounts”), (i) it is understood
and agreed that the Fixed Amounts shall be disregarded in the calculation of the financial ratio or test applicable to the Incurrence-Based
Amounts, but giving full pro forma effect to all applicable and related transactions (including, subject to the foregoing with
respect to Fixed Amounts, any incurrence and repayments of indebtedness) and all other permitted pro forma adjustments (except
that the incurrence or repayment of any debt under the ABL Facility and/or incremental facilities under the ABL Facility immediately
prior to or in connection therewith shall be disregarded), and (ii) thereafter, incurrence of the portion of such indebtedness
or other applicable transaction or action to be incurred under the Fixed Amounts shall be calculated.

 

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Section 1.11         Division
of Limited Liability Company. Any reference herein to a merger, transfer, consolidation, amalgamation, consolidation, assignment,
sale, disposition or transfer, or similar term, shall be deemed to apply to a division of or by a limited liability company, or
an allocation of assets to a series of a limited liability company (or the unwinding of such a division or allocation), as if it
were a merger, transfer, consolidation, amalgamation, consolidation, assignment, sale or transfer, or similar term, as applicable,
to, of or with a separate Person. Any division of a limited liability company shall constitute a separate Person hereunder (and
each division of any limited liability company that is a subsidiary, Restricted Subsidiary, Unrestricted Subsidiary, joint venture
or any other like term shall also constitute such a Person or entity).

 

Article
2

THE CREDITS

 

Section 2.01         Commitments.

 

(a)          Subject
to the terms and conditions set forth herein, each Initial Term Lender severally, and not jointly, agrees to make Initial Term
Loans to the Borrower on the Closing Date in Dollars in a principal amount equal to its Initial Term Loan Commitment. Amounts paid
or prepaid in respect of the Initial Term Loans may not be reborrowed.

 

(b)          [Reserved].

 

(c)          Subject
to the terms and conditions of this Agreement and any applicable Refinancing Amendment or Incremental Facility Amendment, each
Lender with an Additional Term Loan Commitment of a given Class, severally and not jointly, agrees to make Additional Term Loans
of such Class to the Borrower, which Additional Term Loans shall not exceed for any such Lender at the time of any incurrence thereof
the Additional Term Loan Commitment of such Class of such Lender as set forth in the applicable Refinancing Amendment or Incremental
Facility Amendment.

 

Section 2.02         Loans
and Borrowings.

 

(a)          Each
Loan shall be made as part of a Borrowing consisting of Loans of the same Class and Type made by the Lenders ratably in accordance
with their respective Commitments of the applicable Class.

 

(b)          Subject
to Section 2.01 and Section 2.11, each Borrowing shall be comprised entirely of ABR Loans or Eurodollar Rate Loans
as the Borrower may request in accordance herewith. Each Lender at its option may make any Eurodollar Rate Loan by causing any
domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that (i) any exercise of such option
shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement, (ii) such
Eurodollar Rate Loan shall be deemed to have been made and held by such Lender, and the obligation of the Borrower to repay such
Loan shall nevertheless be to such Lender for the account of such domestic or foreign branch or Affiliate of such Lender and (iii) in
exercising such option, such Lender shall use reasonable efforts to minimize increased costs to the Borrower resulting therefrom
(which obligation of such Lender shall not require it to take, or refrain from taking, actions that it determines would result
in increased costs for which it will not be compensated hereunder or that it otherwise determines would be disadvantageous to it
and in the event of such request for costs for which compensation is provided under this Agreement, the provisions of Section
2.12 shall apply).

 

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(c)          At
the commencement of each Interest Period for any Eurodollar Rate Borrowing, such Borrowing shall comprise an aggregate principal
amount that is an integral multiple of $500,000 and not less than $1,000,000. Each ABR Borrowing when made shall be in a minimum
principal amount of $100,000. Borrowings of more than one Type and Class may be outstanding at the same time; provided that
there shall not at any time be more than a total of ten (10) different Interest Periods in effect for Eurodollar Rate Borrowings
at any time outstanding (or such greater number of different Interest Periods as the Administrative Agent may agree from time to
time).

 

(d)          Notwithstanding
any other provision of this Agreement, the Borrower shall not, nor shall it be entitled to, request, or to elect to convert or
continue, any Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date applicable to the
relevant Loans.

 

Section 2.03         Requests
for Borrowings. Each Borrowing, each conversion of Loans from one Type to the other, and each continuation of Eurodollar Rate
Loans shall be made upon irrevocable notice by the Borrower to the Administrative Agent. Each such notice must be in the form of
a written Borrowing Request, appropriately completed and signed by a Responsible Officer of the Borrower or by telephone (and promptly
confirmed by delivery of a written Borrowing Request, appropriately completed and signed by a Responsible Officer of the Borrower)
and must be received by the Administrative Agent (by hand delivery, fax or other electronic transmission (including “.pdf”
or “.tif”)) not later than 1:00 p.m. (i) three Business Days prior to the requested day of any Borrowing, conversion
or continuation of Eurodollar Rate Loans (or one Business Day in the case of any Eurodollar Rate Loans to be made on the Closing
Date) and (ii) 11:00 a.m. one Business Day prior to the requested date of any Borrowing of ABR Loans (or, in each case, such later
time as shall be acceptable to the Administrative Agent); provided, however, that if the Borrower wishes to request
Eurodollar Rate Loans having an Interest Period of other than one, two, three or six months in duration as provided in the definition
of “Interest Period,” (A) the applicable notice from the Borrower must be received by the Administrative Agent not
later than 1:00 p.m. four Business Days prior to the requested date of the relevant Borrowing, conversion or continuation, whereupon
the Administrative Agent shall give prompt notice to the appropriate Lenders of such request and determine whether the requested
Interest Period is approved by each Lender and (B) not later than 12:00 p.m. three Business Days before the requested date of the
relevant Borrowing, conversion or continuation, the Administrative Agent shall notify the Borrower whether or not the requested
Interest Period is approved by each of the appropriate Lenders.

 

If no election as to
the Type of Borrowing is specified, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period is specified
with respect to any requested Eurodollar Rate Borrowing, then the Borrower shall be deemed to have selected an Interest Period
of one month’s duration. The Administrative Agent shall advise each Lender of the details and amount of any Loan to be made
as part of the relevant requested Borrowing (x) in the case of any ABR Borrowing, on the same Business Day of receipt of a
Borrowing Request in accordance with this Section 2.03 or (y) in the case of any Eurodollar Rate Borrowing, no later
than one Business Day following receipt of a Borrowing Request in accordance with this Section 2.03.

 

Section 2.04         Funding
of Borrowings.

 

(a)          Each
Lender shall make each Loan to be made by it hereunder not later than 1:00 p.m. on the Business Day specified in the applicable
Borrowing Request by wire transfer of immediately available funds to the account of the Administrative Agent most recently designated
by it for such purpose by notice to the Lenders in an amount equal to such Lender’s respective Applicable Percentage. The
Administrative Agent will make such Loans available to the Borrower by promptly crediting the amounts so received, in like funds,
to the account designated in the relevant Borrowing Request or as otherwise directed by the Borrower.

 

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(b)          Unless
the Administrative Agent has received notice from any Lender that such Lender will not make available to the Administrative Agent
such Lender’s share of any Borrowing prior to the proposed date of such Borrowing, the Administrative Agent may assume that
such Lender has made such share available on such date in accordance with Section 2.04(a) and may, in reliance upon such
assumption, make available to the Borrower a corresponding amount. In such event, if any Lender has not in fact made its share
of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower severally agree
to pay to the Administrative Agent forthwith on demand (without duplication) such corresponding amount with interest thereon, for
each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the
Administrative Agent, at (i) in the case of such Lender, the greater of the Federal Funds Effective Rate and a rate determined
by the Administrative Agent in accordance with banking industry rules on interbank compensation or (ii) in the case of the
Borrower, the interest rate applicable to Loans comprising such Borrowing at such time. If such Lender pays such amount to the
Administrative Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing and the obligation
of the Borrower to repay the Administrative Agent such corresponding amount pursuant to this Section 2.04(b) shall cease.
If the Borrower pays such amount to the Administrative Agent, the amount so paid shall constitute a repayment of such Borrowing
by such amount. Nothing herein shall be deemed to relieve any Lender from its obligation to fulfill its Commitment or to prejudice
any rights which the Administrative Agent or the Borrower or any other Loan Party may have against any Lender as a result of any
default by such Lender hereunder.

 

Section 2.05         Type;
Interest Elections.

 

(a)          Each
Borrowing shall initially be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Rate Borrowing,
shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert any
Borrowing to a Borrowing of a different Type or to continue such Borrowing and, in the case of a Eurodollar Rate Borrowing, may
elect Interest Periods therefor, all as provided in this Section. The Borrower may elect different options with respect to different
portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders, based upon their
Applicable Percentages and the Loans comprising each such portion shall be considered a separate Borrowing.

 

(b)          To
make an election pursuant to this Section 2.05, the Borrower shall (i) deliver an Interest Election Request, appropriately
completed and signed by a Responsible Officer of the Borrower or (ii) provide telephonic notice (promptly confirmed in writing
by delivery of a written Interest Election Request, appropriately completed and signed by a Responsible Officer of the Borrower)
of the applicable election to the Administrative Agent. If any such Interest Election Request requests a Eurodollar Rate Borrowing
but does not specify an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one month’s
duration.

 

(c)          Promptly
following receipt of an Interest Election Request, the Administrative Agent shall advise each applicable Lender of the details
thereof and of such Lender’s portion of each resulting Borrowing.

 

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(d)          If
the Borrower fails to deliver a timely Interest Election Request with respect to a Eurodollar Rate Borrowing prior to the end of
the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, such Borrowing shall be converted
at the end of such Interest Period to a Eurodollar Rate Borrowing with an Interest Period of one month. Notwithstanding anything
to the contrary herein, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the
Required Lenders, so notifies the Borrower, then, so long as such Event of Default is continuing (i) no outstanding Borrowing
may be converted to or continued as a Eurodollar Rate Borrowing and (ii) unless repaid, each Eurodollar Rate Borrowing shall
be converted to an ABR Borrowing at the end of the then-current Interest Period applicable thereto.

 

Section 2.06         Automatic
Termination and Reduction of Commitments. Unless previously terminated, (a) the Initial Term Commitments on the Closing Date
shall automatically terminate upon the making of the Initial Term Loans on the Closing Date and (b) the Additional Term Loan Commitments
of any Class shall automatically terminate upon the making of the Additional Term Loans of such Class and, if any such Additional
Term Loan Commitment is not drawn on the date that such Additional Term Loan Commitment is required to be drawn pursuant to the
applicable Refinancing Amendment or Incremental Facility Amendment, the undrawn amount thereof shall automatically terminate.

 

Section 2.07         Repayment
of Loans; Evidence of Debt.

 

(a)          (i)          The
Borrower hereby unconditionally promises to repay the outstanding principal amount of the Initial Term Loans to the Administrative
Agent for the account of each Term Lender (A) commencing at the end of the first full Fiscal Quarter ended after the Closing Date,
and payable on the last Business Day of such Fiscal Quarter and each Fiscal Quarter thereafter (prior to the Term Loan Maturity
Date), in a quarterly amount equal to 1.25% of the original principal amount of the Initial Term Loans (each such date being referred
to as a “Loan Installment Date”), as such payments may be (x) reduced from time to time as a result of the application
of prepayments in accordance with Section 2.08 or repurchases in accordance with Section 9.05(g) or (y) increased
as a result of any increase in the amount of such Initial Term Loans pursuant to Section 2.19(a)) and (B) on the Term
Loan Maturity Date, in an amount equal to the remainder of the principal amount of the Initial Term Loans outstanding on such date,
together in each case with accrued and unpaid interest on the principal amount to be paid to but excluding the date of such payment.

 

(ii)         The
Borrower shall repay the Additional Term Loans of any Class in such scheduled amortization installments and on such date or dates
as shall be specified therefor in the applicable Refinancing Amendment, Incremental Facility Agreement or Extension Amendment (as
such payments may be reduced from time to time as a result of the application of prepayments in accordance with Section 2.08
or repurchases in accordance with Section 9.05(g)).

 

(b)          Each
Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the Borrower
to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to
such Lender from time to time hereunder.

 

(c)          The
Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Class
and Type thereof and the Interest Period (if any) applicable thereto, (ii) the amount of any principal or interest due and
payable or to become due and payable from the Borrower to each Lender hereunder and (iii) the amount of any sum received by
the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof.

 

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(d)          The
entries made in the accounts maintained pursuant to paragraph (b) or (c) of this Section shall be prima facie
evidence of the existence and amounts of the obligations recorded therein (absent manifest error); provided that the failure
of any Lender or the Administrative Agent to maintain such accounts or any manifest error therein shall not in any manner affect
the obligation of the Borrower to repay the Loans in accordance with the terms of this Agreement; provided, further,
that in the event of any inconsistency between the accounts maintained by the Administrative Agent pursuant to paragraph (d)
of this Section and any Lender’s records, the accounts of the Administrative Agent shall govern.

 

(e)          Any
Lender may request that any Loan made by it be evidenced by a Promissory Note. In such event, the Borrower shall prepare, execute
and deliver a Promissory Note payable to such Lender and its registered assigns; it being understood and agreed that such Lender
(and/or its applicable assign) shall be required to return such Promissory Note to the Borrower in accordance with Section 9.05(b)(iii)
and upon the occurrence of the Termination Date (or as promptly thereafter as practicable). If any Lender loses the original copy
of its Promissory Note, it shall execute an affidavit of loss containing an indemnification provision reasonably satisfactory to
the Borrower.

 

Section 2.08         Prepayment
of Loans.

 

(a)          Optional
Prepayments.

 

(i)          Upon
prior notice in accordance with paragraph (a)(ii) of this Section, the Borrower shall have the right at any time and from
time to time to prepay any Borrowing of Loans of any Class in whole or in part without premium or penalty (but subject (A) in the
case of Borrowings of Initial Term Loans only, to Section 2.09(d) and (B) if applicable, to Section 2.13).
Each such prepayment shall be paid to the Lenders in accordance with their respective Applicable Percentages of the relevant Class.

 

(ii)         The
Borrower shall notify the Administrative Agent by telephone (promptly confirmed in writing) of any prepayment under this Section
2.08(a) (i) in the case of any prepayment of a Eurodollar Rate Borrowing, not later than 1:00 p.m. three Business Days
before the date of prepayment or (ii) in the case of any prepayment of an ABR Borrowing, not later than 11:00 a.m. one Business
Day before the date of prepayment (or, in the case of clauses (i) and (ii), such later time as to which the Administrative
Agent may agree). Each such notice shall be irrevocable (except as set forth in the proviso to this sentence) and shall specify
the prepayment date and the principal amount of each Borrowing or portion thereof to be prepaid; provided that any notice
of prepayment delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other transactions,
in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective
date) if such condition is not satisfied. Promptly following receipt of any such notice relating to any Borrowing, the Administrative
Agent shall advise the applicable Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount
at least equal to the amount that would be permitted in the case of a Borrowing of the same Type and Class as provided in Section
2.02(c) or such lesser amount that is then outstanding with respect to such Borrowing being repaid (and in increments of $100,000
in excess thereof or such lesser incremental amount that is then outstanding with respect to such Borrowing being repaid). Each
prepayment of Term Loans shall be applied to the Class of Term Loans specified in the applicable prepayment notice, and each prepayment
of Term Loans of such Class made pursuant to this Section 2.08(a) shall be applied against the remaining scheduled installments
of principal due in respect of the Term Loans of such Class in the manner specified by the Borrower or, in the absence of any such
specification on or prior to the date of such optional prepayment, in direct order of maturity.

 

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(b)          Mandatory
Prepayments.

 

(i)          No
later than the fifth Business Day after the date on which the financial statements with respect to each Fiscal Year of Holdings
are required to be delivered pursuant to Section 5.01(b), commencing with the Fiscal Year ending on or about October 31,
2019, the Borrower shall prepay the outstanding principal amount of Term Loans (and each such prepayment of Term Loans shall be
applied to the Class of Term Loans specified in any applicable prepayment notice, and each such prepayment of Term Loans of such
Class made pursuant to this Section 2.08(b)(i) shall be applied against the remaining scheduled installments of principal
due in respect of the Term Loans of such Class in the manner specified by the Borrower (or, in the absence of any such specification
on or prior to the date of such optional prepayment, in the direct order of maturity), and each such prepayment shall be paid to
the Term Lenders in accordance with their respective Applicable Percentage of the applicable Class) in an aggregate principal amount
equal to:

 

(A)         the
Required Excess Cash Flow Percentage of Excess Cash Flow of the Borrower and its Restricted Subsidiaries for the Excess Cash Flow
Period then ended, minus

 

(B)         at
the option of the Borrower, without duplication of any amount deducted in calculating Excess Cash Flow for such Excess Cash Flow
Period and excluding any such payment that reduced the amount required to be prepaid pursuant to this Section 2.08(b)(i)
in the prior Excess Cash Flow Period, the aggregate principal amount of,

 

(1)         (x)
(A) any Initial Term Loans prepaid pursuant to Section 2.08(a) and (B) any Additional Term Loans, Replacement Term Loans,
Incremental Equivalent Debt or Indebtedness incurred pursuant to Section 6.01(q) voluntarily prepaid, in each case that
ranks pari passu in right of payment and security with the Initial Term Loans and (y) any loans prepaid or repaid under the ABL
Facility (to the extent accompanied by a permanent reduction of the corresponding commitment thereunder) (in the case of clauses
(x) and (y), to the extent that such prepayments were not financed with the proceeds of other Indebtedness of the Borrower
or its Restricted Subsidiaries) prior to such date, and

 

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(2)         except
to the extent deducted in the calculation of Excess Cash Flow, the amount of any reduction in the outstanding amount of (x) any
Initial Term Loans and (y) Additional Term Loans, Replacement Term Loans, Incremental Equivalent Debt or Indebtedness incurred
pursuant to Section 6.01(q), in each case that ranks pari passu in right of payment and security with the Initial Term Loans,
resulting from any assignment made in accordance with Section 9.05(g) of this Agreement (including in connection with any
Dutch Auction or open market purchase) or a contribution to the Borrower or its subsidiaries made in accordance with Section
9.05(g)(ii) or Section 9.05(h)(ii) of this Agreement prior to such date, in each case, in an amount equal to the actual
amount of cash paid in connection with the relevant assignment;

 

in each case
to the extent made during such fiscal year or after year-end and prior to any Excess Cash Flow prepayment date; provided
that, an Excess Cash Flow prepayment shall be required pursuant to this Section 2.08(b)(i) only if the amount of the prepayment
exceeds $7,500,000 and, in such case, the amount of the prepayment required pursuant to this Section 2.08(b)(i) shall equal the
amount of such prepayment is in excess of $7,500,000.

 

(ii)         No
later than the fifth Business Day following the receipt of Net Proceeds in respect of any Prepayment Asset Sale or Net Insurance/Condemnation
Proceeds, in each case, in excess of, at the time such Net Proceeds or Net Insurance/Condemnation are received, $5,000,000 in any
Fiscal Year, the Borrower shall apply an amount equal to 100% of the Net Proceeds or Net Insurance/Condemnation Proceeds received
with respect thereto in excess of such thresholds (the “Subject Proceeds”) to prepay the outstanding principal
amount of Initial Term Loans and Additional Term Loans then subject to ratable prepayment requirements (the “Subject Loans”)
in accordance with Section 2.08(b)(vi) below; provided that (A) if prior to the date any such prepayment is required
to be made, no Event of Default then exists, the Borrower shall not be required to make a mandatory prepayment under this clause
(ii) in respect of the Subject Proceeds to the extent (x) the Subject Proceeds are so reinvested within 12 months following
receipt thereof, or (y) the Borrower or any of its subsidiaries has committed to so reinvest the Subject Proceeds during such 12-month
period and the Subject Proceeds are so reinvested within six months after the expiration of such 12-month period; it being understood
that if the Subject Proceeds have not been so reinvested prior to the expiration of the applicable period, the Borrower shall promptly
prepay the Subject Loans with the amount of the Subject Proceeds not so reinvested as set forth above (without regard to the immediately
preceding proviso); (B) each such prepayment of Term Loans shall be applied to the Class of Term Loans specified in any applicable
prepayment notice, and each such prepayment of Term Loans of such Class made pursuant to this Section 2.08(b)(ii) shall
be applied against the remaining scheduled installments of principal due in respect of the Term Loans of such Class in the manner
specified by the Borrower (or, in the absence of any such specification on or prior to the date of such optional prepayment, in
the direct order of maturity), and each such prepayment shall be paid to the Term Lenders in accordance with their respective Applicable
Percentage of the applicable Class); and (C) if, at the time that any such prepayment would be required hereunder, the Borrower
or any of its Restricted Subsidiaries is required to repay or repurchase any other Indebtedness (or offer to repay or repurchase
any Indebtedness) that is secured on a pari passu basis with any Secured Obligation pursuant to the terms of the documentation
governing such Indebtedness with the Subject Proceeds (such Indebtedness required to be so repaid or repurchased (or offered to
be repaid or repurchased), the “Other Applicable Indebtedness”), then the relevant Person may apply the Subject
Proceeds on a pro rata basis to the prepayment of the Subject Loans and to the repurchase or repayment of the Other Applicable
Indebtedness (determined on the basis of the aggregate outstanding principal amount of the Subject Loans and the Other Applicable
Indebtedness (or accreted amount if such Other Applicable Indebtedness is issued with original issue discount) at such time); it
being understood that (1) the portion of the Subject Proceeds allocated to the Other Applicable Indebtedness shall not exceed the
amount of the Subject Proceeds required to be allocated to the Other Applicable Indebtedness pursuant to the terms thereof (and
the remaining amount, if any, of the Subject Proceeds shall be allocated to the Subject Loans in accordance with the terms hereof),
and the amount of the prepayment of the Subject Loans that would have otherwise been required pursuant to this Section 2.08(b)(ii)
shall be reduced accordingly and (2) to the extent the holders of the Other Applicable Indebtedness decline to have such Indebtedness
prepaid or repurchased, the declined amount shall promptly (and in any event within ten Business Days after the date of such rejection)
be applied to prepay the Subject Loans in accordance with the terms hereof.

 

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(iii)        In
the event that the Borrower or any of its Restricted Subsidiaries receives Net Proceeds from the issuance or incurrence of Indebtedness
by the Borrower or any of its Restricted Subsidiaries (other than Indebtedness that is permitted under Section 6.01, except
to the extent the relevant Indebtedness constitutes (A) Refinancing Indebtedness incurred to refinance all or a portion of the
Term Loans pursuant to Section 6.01(m) or Replacement Term Loans incurred to refinance Term Loans or Additional Term Loans
in accordance with the requirements of Section 9.02(c), (B) Incremental Loans incurred to refinance all or a portion of
the Term Loans pursuant to Section 2.19 and/or (C) Incremental Equivalent Debt incurred to finance all or a portion of the
Loans in accordance with the requirements of Section 6.01(s)) the Borrower shall, substantially simultaneously with (and
in any event not later than the next succeeding Business Day) the receipt of such Net Proceeds by the Borrower or its applicable
Restricted Subsidiary, apply an amount equal to 100% of such Net Proceeds to prepay the outstanding principal amount of the relevant
Term Loans in accordance with Section 2.08(b)(vi) below.

 

(iv)        Notwithstanding
any provision under this Section 2.08(b) to the contrary:

 

(A)         the
Borrower shall not be required to prepay any amount that would otherwise be required to be paid pursuant to Sections 2.08(b)(i)
or (ii) above to the extent that the relevant Excess Cash Flow is generated by any Foreign Subsidiary, the relevant Prepayment
Asset Sale is consummated by any Foreign Subsidiary or the relevant Net Insurance/Condemnation Proceeds are received by any Foreign
Subsidiary, as the case may be, for so long as the repatriation to the Borrower of any such amount would be prohibited under any
Requirement of Law or conflict with the fiduciary duties of such Foreign Subsidiary’s directors, or result in, or could reasonably
be expected to result in, a material risk of personal or criminal liability for any officer, director, employee, manager, member
of management or consultant of such Foreign Subsidiary (the Borrower hereby agreeing to cause the applicable Foreign Subsidiary
to promptly take all commercially reasonable actions required by applicable Requirements of Law to permit such repatriation); it
being understood that if the repatriation of the relevant affected Subject Proceeds or Excess Cash Flow, as the case may be, is
permitted under the applicable Requirement of Law and, to the extent applicable, would no longer conflict with the fiduciary duties
of such director, or result in, or be reasonably expected to result in, a material risk of personal or criminal liability for such
Persons described above, the Borrower shall be required to mandatorily prepay the Term Loans (net of additional Taxes payable or
reserved against as a result thereof) pursuant to this Section 2.08(b) to the extent required herein (without regard to
this clause (iv)); and

 

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(B)         if
the Borrower determines in good faith that the repatriation to the Borrower as a distribution or dividend of any amounts required
to mandatorily prepay the Term Loans pursuant to Sections 2.08(b)(i) or (ii) above that are attributable to Foreign
Subsidiaries would result in an adverse Tax liability that is not de minimis (including any withholding Tax) (such amount, a “Restricted
Amount”), as reasonably determined by the Borrower, the amount that the Borrower shall be required to mandatorily prepay
pursuant to Sections 2.08(b)(i) or (ii) above, as applicable, shall be reduced by the Restricted Amount until such
time as it may repatriate to the Borrower the Restricted Amount without incurring such adverse Tax liability that is not de minimis;
provided that to the extent that the repatriation of any Subject Proceeds or Excess Cash Flow, as the case may be, from
the relevant Foreign Subsidiary would no longer have an adverse Tax consequence that is not de minimis, an amount equal to the
Subject Proceeds or Excess Cash Flow, as applicable and to the extent available, not previously applied pursuant to this clause
(B), shall be promptly applied to the repayment of the Term Loans pursuant to Section 2.08(b) as otherwise required
above (without regard to this clause (iv)). Notwithstanding anything to the contrary in the foregoing, in each case, any
such prepayment shall no longer be required to be made with respect to any such amounts that, after the Borrower’s use of
commercially reasonable efforts, have not been repatriated prior to the date that is one year after the date the original prepayment
was required to be made.

 

(v)         Any
Term Lender may elect, by notice to the Administrative Agent at or prior to the time and in the manner specified by the Administrative
Agent, prior to any prepayment of Term Loans required to be made by the Term Borrower pursuant to this Section 2.08(b),
to decline all (but not a portion) of its Applicable Percentage of such prepayment (such declined amounts, the “Declined
Proceeds”), in which case such Declined Proceeds may be retained by the Borrower; provided that for the avoidance
of doubt, no Lender may reject any prepayment made under Section 2.08(b)(iii) above to the extent that such prepayment is
made with the Net Proceeds of (w) Refinancing Indebtedness incurred to refinance all or a portion of the Term Loans pursuant to
Section 6.01(m), (x) Incremental Loans incurred to refinance all or a portion of the Term Loans pursuant to Section 2.19,
(y) Replacement Term Loans incurred to refinance all or any portion of the Term Loans in accordance with the requirements
of Section 9.02(c) and/or (z) Incremental Equivalent Debt incurred to refinance all or a portion of the Loans in accordance
with the requirements of Section 6.01(s). If any Term Lender fails to deliver a notice to the Administrative Agent of its
election to decline receipt of its Applicable Percentage of any mandatory prepayment within the time frame specified by the Administrative
Agent, such failure will be deemed to constitute an acceptance of such Term Lender’s Applicable Percentage of the total amount
of such mandatory prepayment of Term Loans.

 

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(vi)        Except
to the extent less than pro rata treatment with the Initial Term Loans is provided for in any Refinancing Amendment, any Incremental
Facility Amendment or any Extension Amendment, each prepayment of Term Loans pursuant to Section 2.08(b) shall be applied
ratably to each Class of Term Loans then outstanding (provided that any prepayment of Term Loans with the Net Proceeds of
any Refinancing Indebtedness, Incremental Term Facility or Replacement Term Loans shall be applied to the applicable Class of Term
Loans being refinanced or replaced). With respect to each Class of Term Loans, in connection with any mandatory prepayments by
the Borrower of the Initial Term Loans pursuant to Section 2.08(b), such prepayments shall be applied on a pro rata basis to the
then outstanding Term Loans being prepaid irrespective of whether such outstanding Term Loans are Base Rate Loans or Eurodollar
Rate Loans; provided, that, if no Lenders exercise the right to waive a given mandatory prepayment of the Term Loans
pursuant to Section 2.08(b)(v), then, with respect to such mandatory prepayment, the amount of such mandatory prepayment shall
be applied first to Term Loans that are Base Rate Loans to the full extent thereof before application to Term Loans that are Eurodollar
Rate Loans in a manner that minimizes the amount of any payments required to be made by the Borrower pursuant to Section 2.13.

 

(vii)       Prepayments
made under Section 2.08(b) shall be (A) accompanied by accrued interest as required by Section 2.10, (B) subject
to Section 2.13 and (C) in the case of prepayments of Initial Term Loans under Section 2.08(b)(iii)(A) above
as part of a Repricing Transaction, subject to Section 2.09(d), but shall otherwise be without premium or penalty.

 

Section 2.09         Fees.

 

(a)          [Reserved].

 

(b)          The
Borrower agrees to pay to the Administrative Agent, for its own account, the annual administration fee described in the Fee Letter.

 

(c)          All
fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent.
Fees paid shall not be refundable under any circumstances except as otherwise provided in the Fee Letter.

 

(d)          If,
on or prior to the date that is one year from the Closing Date, a Repricing Transaction occurs, the Borrower will pay to the Administrative
Agent for the ratable account of each Lender with outstanding Initial Term Loans which are repaid or prepaid pursuant to such Repricing
Transaction, a premium in an amount equal to 1.0% of the principal amount of the Initial Term Loans prepaid or, in the case of
any amendment, the principal amount of the Initial Term Loans outstanding prior to such amendment (including each Lender that withholds
its consent to such Repricing Transaction and is replaced or repaid as a Non-Consenting Lender under Section 2.16(b)), a
fee in an amount equal to 1.0% of (x) in the case of a Repricing Transaction of the type described in clause (a) of the
definition thereof, the aggregate principal amount of all Initial Term Loans prepaid (or converted) in connection with such Repricing
Transaction and (y) in the case of a Repricing Transaction described in clause (b) of the definition thereof, the aggregate
principal amount of all Initial Term Loans outstanding on such date pursuant to such Repricing Transaction.

 

(e)          Unless
otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the
actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of a fee
hereunder shall be conclusive and binding for all purposes, absent manifest error.

 

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Section 2.10         Interest.

 

(a)          The
Term Loans comprising each ABR Borrowing shall bear interest at the Alternate Base Rate plus the Applicable Rate.

 

(b)          The
Term Loans comprising each Eurodollar Rate Borrowing shall bear interest at the Adjusted Eurodollar Rate for the Interest Period
in effect for such Borrowing plus the Applicable Rate.

 

(c)          Notwithstanding
the foregoing, if any principal of or interest on any Term Loan or any fee payable by the Borrower hereunder is not, in each case,
paid or reimbursed when due, whether at stated maturity, upon acceleration or otherwise, the relevant overdue amount shall bear
interest, to the fullest extent permitted by applicable Requirements of Law, after as well as before judgment, at a rate per annum
equal to (i) in the case of overdue principal or interest of any Term Loan, 2.00% plus the rate otherwise applicable
to such Term Loan as provided in the preceding paragraphs of this Section or (ii) in the case of any fees, 2.00% plus
the rate applicable to Term Loans that are ABR Loans as provided in paragraph (a) of this Section.

 

(d)          Accrued
interest on each Term Loan shall be payable in arrears on each Interest Payment Date for such Term Loan and on the Maturity Date
applicable to such Loan; provided that (A) interest accrued pursuant to paragraph (c) of this Section shall
be payable on demand, (B) in the event of any repayment or prepayment of any Term Loan, accrued interest on the principal
amount repaid or prepaid shall be payable on the date of such repayment or prepayment and (C) in the event of any conversion
of any Eurodollar Rate Loan prior to the end of the current Interest Period therefor, accrued interest on such Term Loan shall
be payable on the effective date of such conversion.

 

(e)          All
interest hereunder shall be computed on the basis of a year of 360 days, except that interest computed by reference to the Alternate
Base Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable
for the actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate
or Adjusted Eurodollar Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent
manifest error. Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any
portion thereof, for the day on which the Loan or such portion is paid; provided that any Loan that is repaid on the same
day on which it is made shall bear interest for one day.

 

Section 2.11         Alternate
Rate of Interest.

 

(a)          If
prior to the commencement of any Interest Period for a Eurodollar Rate Borrowing:

 

(i)          the
Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means
do not exist for ascertaining the Adjusted Eurodollar Rate for such Interest Period; or

 

(ii)         the
Administrative Agent is advised by the Required Lenders that the Adjusted Eurodollar Rate for such Interest Period will not adequately
and fairly reflect the cost to such Lenders of making or maintaining their Loans included in such Borrowing for such Interest Period;

 

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then the Administrative
Agent shall promptly give notice thereof to the Borrower and the Lenders by telephone or facsimile as promptly as practicable thereafter
and, until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no
longer exist, which the Administrative Agent agrees promptly to do, (i) any Interest Election Request that requests the conversion
of any Borrowing to, or continuation of any Borrowing as, a Eurodollar Rate Borrowing shall be ineffective and such Borrowing shall
be converted to an ABR Borrowing on the last day of the Interest Period applicable thereto, and (ii) if any Borrowing Request
requests a Eurodollar Rate Borrowing, such Borrowing shall be made as an ABR Borrowing.

 

(b)          If
at any time the Administrative Agent or the Borrower determine or the Required Lenders notify the Administrative Agent (with a
copy to the Borrower) that the Required Lenders have determined (which determination shall be conclusive absent manifest error)
that (i) adequate and reasonable means do not exist for ascertaining the Adjusted Eurodollar Rate for any requested Interest Period,
including, without limitation, because the Eurodollar Rate is not available or published on a current basis and such circumstances
are unlikely to be temporary; or (ii) the administrator of the Eurodollar Rate or a Governmental Authority having jurisdiction
over the Administrative Agent has made a public statement identifying a specific date after which the Eurodollar Rate shall no
longer be made available, or used for determining the interest rate of loans (such specific date, the “Scheduled Unavailability
Date”), then the Administrative Agent and the Borrower shall endeavor to establish an alternate rate of interest to the
Adjusted Eurodollar Rate, and shall enter into an amendment to this Agreement to reflect such alternate rate of interest and such
other related changes to this Agreement as may be applicable; provided that, if such alternate rate of interest shall be
less than zero, such rate shall be deemed to be zero for the purposes of this Agreement; provided, further, that (i) any
such successor rate shall be applied by the Administrative Agent in a manner consistent with market practice and (ii) to the extent
such market practice is not administratively feasible for the Administrative Agent, such successor rate shall be applied in a manner
as otherwise reasonably determined by the Administrative Agent and the Borrower. Notwithstanding anything to the contrary in Section
9.02, such amendment shall become effective without any further action or consent of any other party to this Agreement so long
as the Administrative Agent shall not have received, within five (5) Business Days of the date notice of such alternate rate of
interest is provided to the Lenders, written notice from the Required Lenders stating that such Required Lenders object to such
amendment. If no such alternate rate has been determined and the circumstances under clause (i) above exist or the Scheduled Unavailability
Date has occurred (as applicable), the Administrative Agent will promptly so notify the Borrower and each Lender. Thereafter, (x)
the obligation of the Lenders to make or maintain Adjusted Eurodollar Rate Loans shall be suspended, (to the extent of the affected
Adjusted Eurodollar Rate Loans or Interest Periods), and (y) the Adjusted Eurodollar Rate component shall no longer be utilized
in determining ABR. Upon receipt of such notice, the Borrower may revoke any pending request for a Loan of, conversion to or continuation
of Adjusted Eurodollar Rate Loans (to the extent of the affected Adjusted Eurodollar Rate Loans or Interest Periods) or, failing
that, will be deemed to have converted such request into a request for a Borrowing of ABR Loans (subject to the foregoing clause
(y)) in the amount specified therein.

 

Section 2.12         Increased
Costs.

 

(a)          If
any Change in Law:

 

(i)          imposes,
modifies or deems applicable any reserve, special deposit or similar requirement against assets of, deposits with or for the account
of, or credit extended by, any Lender (except any such reserve requirement reflected in the Adjusted Eurodollar Rate);

 

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(ii)         subjects
any Lender or the Administrative Agent to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (c) through
(e) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments,
or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto; or

 

(iii)        imposes
on any Lender or the London interbank market any other condition (other than Taxes) affecting this Agreement or Eurodollar Rate
Loans made by such Lender;

 

and the result of any
of the foregoing is to increase the cost to the relevant Lender or the Administrative Agent of making or maintaining any Eurodollar
Rate Loan (or of maintaining its obligation to make any such Loan) or to reduce the amount of any sum received or receivable by
such Lender or the Administrative Agent hereunder (whether of principal, interest or otherwise) in respect of any Eurodollar Rate
Loan in an amount deemed by such Lender or the Administrative Agent, as applicable, to be material, then, within 30 days after
the Borrower’s receipt of the certificate contemplated by paragraph (c) of this Section, the Borrower will pay to
such Lender or the Administrative Agent, as applicable, for such additional costs incurred or reduction suffered; provided
that the Borrower shall not be liable for such compensation if (w) the relevant Change in Law occurs on a date prior to the date
such Lender becomes a party hereto, (x) such Lender invokes Section 2.17, (y) in the case of requests for reimbursement
under clause (iii) above resulting from a market disruption, (A) the relevant circumstances are not generally affecting
the banking market or (B) the applicable request has not been made by Lenders constituting Required Lenders or (z) such Lender
is not generally charging such amounts to similarly situated borrowers under comparable syndicated credit facilities.

 

(b)          If
any Lender determines that any Change in Law regarding liquidity or capital requirements has or would have the effect of reducing
the rate of return on such Lender’s capital or on the capital of such Lender’s holding company, if any, as a consequence
of this Agreement or the Loans made by such Lender to a level below that which such Lender or such Lender’s holding company
could have achieved but for such Change in Law (taking into consideration such Lender’s policies and the policies of such
Lender’s holding company with respect to capital adequacy and liquidity), then within 30 days of receipt by the Borrower
of the certificate contemplated by paragraph (c) of this Section, the Borrower will pay to such Lender such additional amount
or amounts as will compensate such Lender or such Lender’s holding company for any such reduction suffered; provided
that the Borrower shall not be liable for such compensation if  the relevant Change in Law occurs on a date prior to the date
such Lender becomes a party hereto.

 

(c)          Any
Lender requesting compensation under this Section 2.12 shall be required to deliver a certificate to the Borrower that (i) 
sets forth the amount or amounts necessary to compensate such Lender or its holding company, as applicable, as specified in paragraph
(a) or (b) of this Section and (ii) sets forth in reasonable detail the manner in which such amount or amounts was determined
and (iii) certifies that such Lender is generally charging such amounts to similarly situated borrowers, which shall be conclusive
absent manifest error.

 

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(d)          Failure
or delay on the part of any Lender to demand compensation pursuant to this Section shall not constitute a waiver of such Lender’s
right to demand such compensation; provided, however, that the Borrower shall not be required to compensate a Lender
pursuant to this Section for any increased costs or reductions incurred more than 180 days prior to the date that such Lender notifies
the Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender’s intention to claim
compensation therefor; provided, further, that if the Change in Law giving rise to such increased costs or reductions
is retroactive, then the 180-day period referred to above shall be extended to include the period of retroactive effect thereof.

 

Section 2.13         Break
Funding Payments. In the event of (a) the conversion or prepayment of any principal of any Eurodollar Rate Loan other
than on the last day of an Interest Period applicable thereto (whether voluntary, mandatory, automatic, by reason of acceleration
or otherwise), (b) the failure to borrow, convert, continue or prepay any Eurodollar Rate Loan on the date or in the amount
specified in any notice delivered pursuant hereto (other than any notice revoked as contemplated under Section 2.11(b) and other
than any failure to borrow as a result of a failure to make a Loan by any Lender as required hereunder) or (c) the assignment
of any Eurodollar Rate Loan of any Lender other than on the last day of the Interest Period applicable thereto as a result of a
request by the Borrower pursuant to Section 2.16, then, in any such event, the Borrower shall compensate each Lender for
the loss, cost and expense incurred by such Lender that is attributable to such event (other than loss of Applicable Rate). In
the case of a Eurodollar Rate Loan, the loss, cost or expense of any Lender shall be the amount reasonably determined by such Lender
to be the excess, if any, of (i) the amount of interest which would have accrued on the principal amount of such Loan had
such event not occurred, at the Eurodollar Rate that would have been applicable to such Loan, for the period from the date of such
event to the last day of the then current Interest Period therefor (or, in the case of a failure to borrow, convert or continue,
for the period that would have been the Interest Period for such Loan), over (ii) the amount of interest which would accrue
on such principal amount for such period at the interest rate which such Lender would bid were it to bid, at the commencement of
such period, for deposits in the applicable currency of a comparable amount and period from other banks in the Eurodollar market;
it being understood that such loss, cost or expense shall in any case exclude any interest rate floor and all administrative, processing
or similar fees. Any Lender requesting compensation under this Section 2.13 shall be required to deliver a certificate to
the Borrower that (i) sets forth any amount or amounts that such Lender is entitled to receive pursuant to this Section, the basis
therefor and, in reasonable detail, the manner in which such amount or amounts were determined and (ii) certifies that such
Lender is generally charging the relevant amounts to similarly situated borrowers under comparable syndicated credit facilities,
which certificate shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on any
such certificate within 30 days after receipt thereof.

 

Section 2.14         Taxes.

 

(a)          Any
and all payments by or on account of any obligation of any Loan Party under any Loan Document shall be made free and clear of and
without deduction or withholding for any Taxes, except as required by applicable Requirements of Law. If any applicable Requirement
of Law (as determined in the good faith discretion of an applicable Withholding Agent) requires the deduction or withholding of
any Tax from any such payment by a Withholding Agent, then (i) if such Tax is an Indemnified Tax, the amount payable by the applicable
Loan Party shall be increased as necessary so that after all required deductions or withholdings have been made (including deductions
and withholdings of Indemnified Taxes applicable to additional sums payable under this Section 2.14) each Lender (or, in
the case of payments made to the Administrative Agent for its own account, the Administrative Agent) receives an amount equal to
the sum it would have received had no such deductions or withholdings been made, (ii) the applicable Withholding Agent shall make
such deductions or withholdings and (iii) the applicable Withholding Agent shall timely pay the full amount deducted or withheld
to the relevant Governmental Authority in accordance with applicable Requirements of Law.

 

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(b)          In
addition, the Loan Parties shall pay to the relevant Governmental Authority in accordance with applicable Requirements of Law,
or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes.

 

(c)          The
Loan Parties shall, jointly and severally, indemnify the Administrative Agent and each Lender within 30 days after demand therefor,
for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable
under this Section 2.14) payable or paid by, or required to be withheld or deducted from a payment to, the Administrative
Agent or such Lender, as applicable, and any reasonable expenses arising therefrom or with respect thereto, whether or not such
Indemnified Taxes were correctly or legally imposed or asserted. A certificate setting forth, in reasonable detail, the basis and
calculation of the amount of such payment or liability delivered to the Borrower by a Lender (with a copy to the Administrative
Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error.

 

(d)          Each
Lender shall severally indemnify the Administrative Agent, within 10 days after demand therefor, for (i) any Indemnified Taxes
imposed on or with respect to any payment under any Loan Document that is attributable to such Lender (but only to the extent that
no Loan Party has already indemnified the Administrative Agent for such Indemnified Taxes and without limiting the obligation of
the Loan Parties to do so), (ii) any Taxes attributable to such Lender’s failure to comply with the provisions of Section
9.05(c) relating to the maintenance of a Participant Register and (iii) any Excluded Taxes that are attributable to such Lender,
in each case, that are payable or paid by the Administrative Agent in connection with any Loan Document and any reasonable expenses
arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant
Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative
Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and apply any
and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by the Administrative Agent to any
Lender under any Loan Document or otherwise payable by the Administrative Agent to any Lender from any other source against any
amount due to the Administrative Agent under this clause (d).

 

(e)          As
soon as practicable after any payment of Taxes by any Loan Party to a Governmental Authority as contemplated in this Section
2.14, the Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental
Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment that is reasonably
satisfactory to the Administrative Agent.

 

(f)          Status
of Lenders.

 

(i)          Any
Lender that is entitled to an exemption from or reduction of any withholding Tax with respect to any payments made under any Loan
Document shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower
or the Administrative Agent, such properly completed and executed documentation as the Borrower or the Administrative Agent may
reasonably request to permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any
Lender, if reasonably requested by the Borrower or the Administrative Agent, shall deliver such other documentation prescribed
by applicable Requirements of Law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower
or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting
requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission
of such documentation (other than such documentation set forth in Section 2.14(f)(ii)(A), (B) and (D) below)
shall not be required if in the Lender’s reasonable judgment such completion execution or submission would subject such
Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender.

 

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(ii)         Without
limiting the generality of the foregoing,

 

(A)         each
Lender that is not a Foreign Lender shall deliver to the Borrower and the Administrative Agent on or prior to the date on which
such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower
or the Administrative Agent), executed copies of IRS Form W-9 (or any successor form) certifying that such Lender is exempt from
U.S. federal backup withholding tax;

 

(B)         each
Foreign Lender shall deliver to the Borrower and the Administrative Agent (in such number as shall be requested by the recipient)
on or about the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon
the reasonable request of the Borrower or the Administrative Agent), whichever of the following is applicable:

 

(1)         (x)
with respect to payments of interest under any Loan Document, in the case of any Foreign Lender claiming the benefits of an income
tax treaty to which the U.S. is a party, executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E (or any successor form) establishing
an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest” article of such tax treaty
and (y) with respect to any other applicable payments under any Loan Document, in the case of any Foreign Lender claiming
the benefits of an income tax treaty to which the U.S. is a party, IRS Form W-8BEN or IRS Form W-8BEN-E (or any successor form)
establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “business profits” or
“other income” article of such tax treaty;

 

(2)         executed
copies of IRS Form W-8ECI or W-8EXP (or any successor form);

 

(3)         in
the case of any Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code,
(x) a certificate substantially in the form of Exhibit K-1 to the effect that such Foreign Lender is not a “bank”
within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of the Borrower within the meaning
of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” related to the Borrower as described in
Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”) and (y) executed copies of IRS Form
W-8BEN or IRS Form W-8BEN-E (or any successor form); or

 

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(4)         to
the extent any Foreign Lender is not the beneficial owner, executed copies of IRS Form W-8IMY (or any successor form), accompanied
by IRS Form W-8ECI or W-8EXP (or any successor form), IRS Form W-8BEN or IRS Form W-8BEN-E (or any successor form), a U.S. Tax
Compliance Certificate substantially in the form of Exhibit K-2 or Exhibit K-3, IRS Form W-9 (or any successor form),
and/or other certification documents from each beneficial owner, as applicable; provided that if such Foreign Lender is
a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption,
such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit K-4 on behalf of
each such direct and indirect partner;

 

(C)         each
Foreign Lender shall deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the
recipient) on or about the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter
upon the reasonable request of the Borrower or the Administrative Agent), executed copies of any other form prescribed by applicable
Requirements of Law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly completed, together
with such supplementary documentation as may be prescribed by applicable Requirements of Law to permit the Borrower or the Administrative
Agent to determine the withholding or deduction required to be made; and

 

(D)         if
a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender
were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or
1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the Administrative Agent at the time or
times prescribed by applicable Requirements of Law and at such time or times reasonably requested by the Borrower or the Administrative
Agent such documentation as is prescribed by applicable Requirements of Law (including as prescribed by Section 1471(b)(3)(C)(i) of
the Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary
for the Borrower and the Administrative Agent to comply with their obligations under FATCA and to determine that such Lender has
complied with such Lender’s obligations under FATCA or to determine the amount, if any, to deduct and withhold from such
payment. Solely for the purposes of this clause (D), “FATCA” shall include any amendments made to FATCA after the date
of this Agreement.

 

Each Lender agrees
that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update
such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do
so. Notwithstanding anything to the contrary in this Section 2.14(f), no Lender shall be required to provide any form or
certification that such Lender is not legally entitled to deliver.

 

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(g)          [Reserved].

 

(h)          If
the Administrative Agent or any Lender determines, in its sole discretion exercised in good faith, that it has received a refund
of any Taxes as to which it has been indemnified by any Loan Party or with respect to which such Loan Party has paid additional
amounts pursuant to this Section 2.14, it shall pay over such refund to such Loan Party (but only to the extent of indemnity
payments made by such Loan Party under this Section 2.14 with respect to the Indemnified Taxes giving rise to such refund),
net of all out-of-pocket expenses of the Administrative Agent or such Lender (including any Taxes imposed with respect to such
refund), and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund);
provided that such Loan Party, upon the request of the Administrative Agent or such Lender, agrees to repay the amount paid
over to such Loan Party (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the Administrative
Agent or such Lender in the event the Administrative Agent or such Lender is required to repay such refund to such Governmental
Authority. Notwithstanding anything to the contrary in this paragraph (h), in no event will the Administrative Agent or
any Lender be required to pay any amount to any Loan Party pursuant to this paragraph (h) to the extent that the payment
thereof would place the Administrative Agent or such Lender in a less favorable net after-Tax position than the position that the
Administrative Agent or such Lender would have been in if the Tax subject to indemnification and giving rise to such refund had
not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax
had never been paid. This Section 2.14 shall not be construed to require the Administrative Agent or any Lender to make
available its Tax returns (or any other information relating to its Taxes which it deems confidential) to the relevant Loan Party
or any other Person.

 

(i)          For
purposes of this Section 2.14, the term “Requirements of Law” includes FATCA.

 

(j)          Survival.
Each party’s obligations under this Section 2.14 shall survive the resignation or replacement of the Administrative
Agent or any assignment of rights by, or the replacement of, any Lender, the termination of the Commitments and the repayment,
satisfaction or discharge of all obligations under any Loan Document.

 

Section 2.15         Payments
Generally; Allocation of Proceeds; Sharing of Payments.

 

(a)          Unless
otherwise specified, the Borrower shall make each payment required to be made by it hereunder (whether of principal, interest or
fees or of amounts payable under Section 2.15, 2.16 or 2.17, or otherwise) prior to 3:00 p.m. on the date
when due, in immediately available funds, without set-off (except as otherwise provided in Section 2.14) or counterclaim.
Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received
on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Administrative
Agent to the applicable account designated by the Administrative Agent to the Borrower, except that payments pursuant to Sections
2.12, 2.13, 2.14 and 9.03 shall be made directly to the Person or Persons entitled thereto. The Administrative
Agent shall distribute any such payments received by it for the account of any other Person to the appropriate recipient promptly
following receipt thereof. Except as provided in Sections 2.16(b) and 2.17, each Borrowing, each payment or prepayment
of principal of any Borrowing, each payment of interest on the Loans of a given Class and each conversion of any Borrowing to or
continuation of any Borrowing as a Borrowing of any Type (and of the same Class) shall be allocated pro rata among the Lenders
in accordance with their respective Applicable Percentages of the applicable Class. Each Lender agrees that in computing such Lender’s
portion of any Borrowing to be made hereunder, the Administrative Agent may, in its discretion, round each Lender’s percentage
of such Borrowing to the next higher or lower whole Dollar amount. All payments hereunder shall be made in Dollars. Any payment
required to be made by the Administrative Agent hereunder shall be deemed to have been made by the time required if the Administrative
Agent shall, at or before such time, have taken the necessary steps to make such payment in accordance with the regulations or
operating procedures of the clearing or settlement system used by the Administrative Agent to make such payment.

 

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(b)          Subject
in all respects to the provisions of the Intercreditor Agreement, all proceeds of Collateral received by the Administrative Agent
while an Event of Default exists and all or any portion of the Loans have been accelerated hereunder pursuant to Section 7.01,
shall be applied, first, to the payment of all costs and expenses then due incurred by the Administrative Agent in connection
with any collection, sale or realization on Collateral or otherwise in connection with this Agreement, any other Loan Document
or any of the Secured Obligations, including all court costs and the fees and expenses of agents and legal counsel, the repayment
of all advances made by the Administrative Agent hereunder or under any other Loan Document on behalf of any Loan Party and any
other costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other Loan Document,
second, on a pro rata basis, to pay any fees, indemnities or expense reimbursements then due to the Administrative Agent
(other than those covered in clause first above) from the Borrower constituting Secured Obligations, third, on a pro rata
basis in accordance with the amounts of the Secured Obligations (other than contingent indemnification obligations for which no
claim has yet been made) owed to the Secured Parties on the date of any such distribution, to the payment in full of the Secured
Obligations; and fourth, to, or at the direction of, the Borrower or as a court of competent jurisdiction may otherwise
direct.

 

(c)          If
any Lender obtains payment (whether voluntary, involuntary, through the exercise of any right of set-off or otherwise) in respect
of any principal of or interest on any of its Loans of any Class held by it resulting in such Lender receiving payment of a greater
proportion of the aggregate amount of its Loans of such Class and accrued interest thereon than the proportion received by any
other Lender with Loans of such Class, then the Lender receiving such greater proportion shall purchase (for Cash at face value)
participations in the Loans of such Class of other Lenders of such Class at such time outstanding to the extent necessary so that
the benefit of all such payments shall be shared by the Lenders of such Class ratably in accordance with the aggregate amount of
principal of and accrued interest on their respective Loans of such Class; provided that (i) if any such participations
are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and
the purchase price restored to the extent of such recovery, without interest, and (ii) the provisions of this paragraph shall
not apply to (x) any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement or
(y) any payment obtained by any Lender as consideration for the assignment of or sale of a participation in any of its Loans
to any permitted assignee or participant, including any payment made or deemed made in connection with Sections 2.19, 2.20
and 9.02(c). The Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable
Requirements of Law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the
Borrower rights of set-off and counterclaim with respect to such participation as fully as if such Lender were a direct creditor
of the Borrower in the amount of such participation. The Administrative Agent will keep records (which shall be conclusive and
binding in the absence of manifest error) of participations purchased under this Section 2.15(c) and will, in each case,
notify the Lenders following any such purchases or repayments. Each Lender that purchases a participation pursuant to this Section
2.15(c) shall from and after such purchase have the right to give all notices, requests, demands, directions and other communications
under this Agreement with respect to the portion of the Obligations purchased to the same extent as though the purchasing Lender
were the original owner of the Obligations purchased.

 

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(d)          Unless
the Administrative Agent has received notice from the Borrower prior to the date on which any payment is due to the Administrative
Agent for the account of any Lender hereunder that the Borrower will not make such payment, the Administrative Agent may assume
that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute
to the applicable Lender the amount due. In such event, if the Borrower has not in fact made such payment, then each Lender severally
agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender with interest thereon,
for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative
Agent, at the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with
banking industry rules on interbank compensation.

 

(e)          If
any Lender fails to make any payment required to be made by it pursuant to Section 2.04(b) or Section 2.15(d), then
the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received
by the Administrative Agent for the account of such Lender to satisfy such Lender’s obligations under such Sections until
all such unsatisfied obligations are fully paid.

 

Section 2.16         Mitigation
Obligations; Replacement of Lenders.

 

(a)          If
any Lender requests compensation under Section 2.12 or such Lender determines it can no longer make or maintain Eurodollar
Rate Loans pursuant to Section 2.17, or such Lender requires any Loan Party to pay any additional amount to or indemnify
any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.14, then such Lender shall
(at the request of the Borrower) use reasonable efforts to designate a different lending office for funding or booking its Loans
hereunder, or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the reasonable
judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section
2.12 or 2.14, as applicable, in the future or mitigate the impact of Section 2.17, as the case may be, and (ii) would
not subject such Lender to any unreimbursed out-of-pocket cost or expense and would not otherwise be disadvantageous to such Lender.
The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation
or assignment.

 

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(b)          If
(i) any Lender requests compensation under Section 2.12 or such Lender determines it can no longer make or maintain
Eurodollar Rate Loans pursuant to Section 2.17, (ii) any Lender requires any Loan Party to pay any additional amount to
or indemnify any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.14 and, in each
case, such Lender has declined or is unable to designate a different lending office in accordance with Section 2.16(a), (iii) any
Lender is a Defaulting Lender, (iv) a Lender fails to accept an Extension Offer made to such Lender or (v) in connection with any
proposed amendment, waiver or consent requiring the consent of “each Lender” or “each Lender directly affected
thereby” (or any other Class or group of Lenders other than the Required Lenders) with respect to which Required Lender (or
the consent of Lenders holding loans or commitments of such Class or lesser group representing more than 50% of the sum of the
total loans and unused commitments of such Class or lesser group at such time) has been obtained, as applicable, any Lender is
a non-consenting Lender (each such Lender described in this clause (v), a “Non-Consenting Lender”), then
the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, (x) terminate the
applicable Commitments of such Lender, and repay all Obligations of the Borrower owing to such Lender relating to the applicable
Loans and participations held by such Lender as of such termination date or (y) replace such Lender by requiring such Lender
to assign and delegate (and such Lender shall be obligated to assign and delegate), without recourse (in accordance with and subject
to the restrictions contained in Section 9.05 but with the processing and recordation fee being waived by the Administrative
Agent in such instance), all of its interests, rights (other than its existing rights to payments pursuant to Section 2.12
or Section 2.14) and obligations under this Agreement to an Eligible Assignee that shall assume such obligations (which
Eligible Assignee may be another Lender, if any Lender accepts such assignment); provided that (A) such Lender has received
payment of an amount equal to the outstanding principal amount of its Loans of such Class of Loans and/or Commitments, accrued
interest thereon, accrued fees and all other amounts payable to it hereunder with respect to such Class of Loans and/or Commitments,
(B) in the case of any assignment resulting from a claim for compensation under Section 2.12 or payments required to be
made pursuant to Section 2.14, such assignment would result in a reduction in such compensation or payments and (C) such
assignment does not conflict with applicable Requirements of Law. No Lender (other than a Defaulting Lender) shall be required
to make any such assignment and delegation, and the Borrower may not repay the Obligations of such Lender or terminate its Commitments,
if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such
assignment and delegation cease to apply. Each Lender agrees that if it is replaced pursuant to this Section 2.16, it shall
execute and deliver to the Administrative Agent an Assignment and Assumption to evidence such sale and purchase and shall deliver
to the Administrative Agent any Promissory Note (if the assigning Lender’s Loans are evidenced by one or more Promissory
Notes) subject to such Assignment and Assumption (provided that the failure of any Lender replaced pursuant to this Section
2.16 to execute an Assignment and Assumption or deliver any such Promissory Note shall not render such sale and purchase (and
the corresponding assignment) invalid), such assignment shall be recorded in the Register and any such Promissory Note shall be
deemed cancelled. Each Lender hereby irrevocably appoints the Administrative Agent (such appointment being coupled with an interest)
as such Lender’s attorney-in-fact, with full authority in the place and stead of such Lender and in the name of such Lender,
from time to time in the Administrative Agent’s discretion, with prior written notice to such Lender, to take any action
and to execute any such Assignment and Assumption or other instrument that the Administrative Agent may deem reasonably necessary
to carry out the provisions of this clause (b). To the extent that any Lender is replaced pursuant to Section 2.16(b)(v)
in connection with a Repricing Transaction requiring payment of a fee pursuant to Section 2.09(d), the Borrower shall pay
to each Lender being replaced as a result of such Repricing Transaction the fee set forth in Section 2.09(d).

 

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Section 2.17         Illegality.
If any Lender reasonably determines that any Change in Law has made it unlawful, or that any Governmental Authority has asserted
after the Closing Date that it is unlawful, for such Lender or its applicable lending office to make, maintain or fund Loans whose
interest is determined by reference to Adjusted Eurodollar Rate, or to determine or charge interest rates based upon the Adjusted
Eurodollar Rate, or any Governmental Authority has imposed material restrictions on the authority of such Lender to purchase or
sell, or to take deposits of, Dollars in the applicable interbank market, then, on notice thereof by such Lender to the Borrower
through the Administrative Agent, (i) any obligation of such Lender to make or continue Eurodollar Rate Loans or to convert
ABR Loans to Eurodollar Rate Loans shall be suspended and (ii) if such notice asserts the illegality of such Lender making
or maintaining ABR Loans the interest rate on which is determined by reference to the Eurodollar Rate component of the Alternate
Base Rate, the interest rate on which ABR Loans of such Lender, shall, if necessary to avoid such illegality, be determined by
the Administrative Agent without reference to the Eurodollar Rate component of the Alternate Base Rate, in each case until such
Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such determination no longer exist
(which notice such Lender agrees to give promptly). Upon receipt of such notice, (x) the Borrower shall, upon demand from
such Lender (with a copy to the Administrative Agent), prepay or, convert all of such Lender’s Eurodollar Rate Loans to ABR
Loans (the interest rate on which ABR Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative
Agent without reference to the Eurodollar Rate component of the Alternate Base Rate) either on the last day of the Interest Period
therefor, if such Lender may lawfully continue to maintain such Eurodollar Rate Loans to such day, or immediately, if such Lender
may not lawfully continue to maintain such Eurodollar Rate Loans (in which case the Borrower shall not be required to make payments
pursuant to Section 2.13 in connection with such payment) and (y) if such notice asserts the illegality of such Lender determining
or charging interest rates based upon the Eurodollar Rate, the Administrative Agent shall during the period of such suspension
compute the Alternate Base Rate applicable to such Lender without reference to the Eurodollar Rate component thereof until the
Administrative Agent is advised in writing by such Lender that it is no longer illegal for such Lender to determine or charge interest
rates based upon the Eurodollar Rate. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the
amount so prepaid or converted. Each Lender agrees to designate a different lending office if such designation will avoid the need
for such notice and will not, in the determination of such Lender, otherwise be materially disadvantageous to such Lender.

 

Section 2.18         Defaulting
Lenders. Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes a Defaulting Lender, then for
so long as such Lender is a Defaulting Lender, the Loans and the Commitments of such Defaulting Lender shall not be included in
determining whether all Lenders, each affected Lender, the Required Lenders or such other number of Lenders as may be required
hereby or under any other Loan Document have taken or may take any action hereunder (including any consent to any waiver, amendment
or modification pursuant to Section 9.02); provided that any waiver, amendment or modification requiring the consent
of all Lenders or each affected Lender which affects such Defaulting Lender disproportionately and adversely relative to other
affected Lenders shall require the consent of such Defaulting Lender.

 

Section 2.19         Incremental
Credit Extensions.

 

(a)          The
Borrower may, at any time, on one or more occasions pursuant to an Incremental Facility Amendment add one or more new tranches
of term facilities and/or increase the principal amount of the Term Loans of any existing Class by requesting new commitments to
provide such Term Loans (any such new tranche or increase, an “Incremental Term Facility” and any loans made
pursuant to an Incremental Term Facility, “Incremental Term Loans”) in an aggregate outstanding principal amount
not to exceed the Incremental Cap; provided that:

 

(i)          no
Incremental Commitment in respect of any Incremental Term Facility may be in an amount that is less than $5,000,000 (or such lesser
amount to which the Administrative Agent may reasonably agree),

 

(ii)         except
as the Borrower and any Lender may separately agree, no Lender shall be obligated to provide any Incremental Commitment, and the
determination to provide such commitments shall be within the sole and absolute discretion of such Lender,

 

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(iii)         no
Incremental Facility or Incremental Loan (nor the creation, provision or implementation thereof) shall require the approval of
any existing Lender other than in its capacity, if any, as a lender providing all or part of any Incremental Commitment or Incremental
Loan,

 

(iv)         except
as otherwise provided in this Section 2.19, the terms of any Incremental Term Facility shall be substantially similar to,
or (taken as a whole) no more favorable (as reasonably determined by the Borrower) to the Lenders providing such Incremental Term
Facility than, those applicable to the Initial Term Loans (except to the extent such terms are (i) conformed or added hereto for
the benefit of the Lenders providing the Initial Term Loans pursuant to an amendment hereto subject solely to the reasonable satisfaction
of the Administrative Agent, (ii) applicable solely to periods after the Term Loan Maturity Date existing at the time of such
incurrence or issuance or (iii) otherwise acceptable to the Administrative Agent),

 

(v)          the
Effective Yield (and the components thereof) applicable to any Incremental Facility may be determined by the Borrower and the lender
or lenders providing such Incremental Facility; provided that, in the case of any Incremental Term Facility that is pari
passu with the Initial Term Loans in right of payment and with respect to security, the Effective Yield applicable thereto may
not be more than 0.50% higher than the Effective Yield applicable to the Initial Term Loans unless the Applicable Rate with respect
to the Initial Term Loans is adjusted to be equal to the Effective Yield with respect to such Incremental Facility, minus,
0.50%,

 

(vi)         the
final maturity date with respect to any Incremental Term Loans shall be no earlier than the Latest Term Loan Maturity Date at the
time of incurrence thereof,

 

(vii)        the
Weighted Average Life to Maturity of any Incremental Term Facility shall be no shorter than the remaining Weighted Average Life
to Maturity of any then-existing tranche of Term Loans (without giving effect to any prepayments thereof),

 

(viii)        (A) any
Incremental Term Facility may rank pari passu with or junior to any then-existing tranche of Term Loans, as applicable, in right
of payment and/or security or may be unsecured (and to the extent the relevant Incremental Facility is pari passu with or subordinated
to any then-existing tranche of Term Loans in right of payment or security and documented in a separate agreement, it shall be
subject to an Acceptable Intercreditor Agreement) and (B) no Incremental Facility may be (x) guaranteed by any Person which is
not a Loan Party or (y) secured by any assets other than the Collateral,

 

(ix)          any
Incremental Term Facility may not participate on a greater than pro rata basis in any mandatory prepayment in respect of the Initial
Term Loans (and any Additional Term Loans then subject to ratable repayment requirements),

 

(x)          subject
to Section 2.19(f), no Event of Default shall exist immediately prior to or after giving effect to the effectiveness of
such Incremental Facility,

 

(xi)         the
proceeds of any Incremental Facility may be used for working capital and other general corporate purposes (including acquisitions,
Investments and Restricted Payments) and any other use not prohibited by this Agreement, and

 

 

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(xii)        on
the date of the Borrowing of any Incremental Term Loans that will be of the same Class as any then-existing Class of Term Loans,
and notwithstanding anything to the contrary set forth in Sections 2.05 or 2.10 above, such Incremental Term Loans
shall be added to (and constitute a part of, be of the same Type as and, at the election of the Borrower, have the same Interest
Period as) each Borrowing of outstanding Term Loans of such Class on a pro rata basis (based on the relative sizes of such Borrowings),
so that each Term Lender providing such Incremental Term Loans will participate proportionately in each then-outstanding Borrowing
of Term Loans of such Class; it being acknowledged that the application of this clause (a)(xii) may result in new Incremental
Term Loans having Interest Periods (the duration of which may be less than one month) that begin during an Interest Period then
applicable to outstanding Eurodollar Rate Loans of the relevant Class and which end on the last day of such Interest Period.

 

(b)          Incremental
Commitments may be provided by any existing Lender (in its sole discretion), or by any other Eligible Assignee (any such other
lender being called an “Additional Lender”); provided that the Administrative Agent shall have consented
(such consent not to be unreasonably withheld) to the relevant Additional Lender’s provision of Incremental Commitments if
such consent would be required under Section 9.05(b) for an assignment of Loans to such Additional Lender; provided,
further, that any Additional Lender that is an Affiliated Lender shall be subject to the provisions of Section 9.05(g),
mutatis mutandis, to the same extent as if the relevant Incremental Commitments and related Obligations had been acquired
by such Lender by way of assignment.

 

(c)          Each
Lender or Additional Lender providing a portion of any Incremental Commitment shall execute and deliver to the Administrative Agent
and the Borrower all such documentation (including the relevant Incremental Facility Amendment) as may be reasonably required by
the Administrative Agent to evidence and effectuate such Incremental Commitment. On the effective date of such Incremental Commitment,
each Additional Lender shall become a Lender for all purposes in connection with this Agreement.

 

(d)          As
conditions precedent to the effectiveness of any Incremental Facility or the making of any Incremental Loans, (i) upon its
request, the Administrative Agent shall have received customary written opinions of counsel, as well as such reaffirmation agreements,
supplements and/or amendments as it shall reasonably require, (ii) the Administrative Agent shall have received, from each
Additional Lender, an administrative questionnaire, in the form provided to such Additional Lender by the Administrative Agent
(the “Administrative Questionnaire”) and such other documents as it shall reasonably require from such Additional
Lender, (iii) the Administrative Agent and Lenders shall have received all fees required to be paid in respect of such Incremental
Facility or Incremental Loans, (iv) subject to Section 2.19(f), the Administrative Agent shall have received a Borrowing
Request as if the relevant Incremental Loans were subject to Section 2.03 or another written request, the form of which
is reasonably acceptable to the Administrative Agent and (v) the Administrative Agent shall have received a certificate of the
Borrower signed by a Responsible Officer thereof:

 

(A)         certifying
and attaching a copy of the resolutions adopted by the governing body of the Borrower approving or consenting to such Incremental
Facility or Incremental Loans, and

 

(B)         to
the extent applicable, certifying that the condition set forth in clause (a)(x) above has been satisfied.

 

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(e)          The
Lenders hereby irrevocably authorize the Administrative Agent to enter into any Incremental Facility Amendment and/or any amendment
to any other Loan Document as may be necessary in order to establish new Classes or sub-Classes in respect of Loans or Commitments
pursuant to this Section 2.19 and such technical amendments as may be necessary or appropriate in the reasonable opinion
of the Administrative Agent and the Borrower in connection with the establishment of such new Classes or sub-Classes, in each case
on terms consistent with this Section 2.19.

 

(f)          Notwithstanding
anything to the contrary in this Section 2.19 or any other provision of any Loan Document, if the proceeds of any Incremental
Term Facility will be used to consummate a Limited Conditionality Acquisition and the Borrower has made an LCA Election with respect
to such Limited Conditionality Acquisition, the condition that, at the time of the effectiveness of any Incremental Term Facility
(and after giving effect thereto), no Event of Default shall exist, may be tested and satisfied as of the LCA Test Date; provided,
that, (x) upon the effectiveness of any Incremental Term Facility, no Event of Default under Section 7.01(a), 7.01(f)
(solely with respect to the Borrower) or 7.01(g) (solely with respect to the Borrower) shall exist and (y) the availability
of such Incremental Term Facility shall nevertheless be subject to customary “specified” and “acquisition agreement”
representations (as reasonably agreed between the Borrower and the lenders providing such Incremental Term Facility).

 

(g)          This
Section 2.19 shall supersede any provision in Section 2.15 or 9.02 to the contrary.

 

Section 2.20         Extensions
of Loans.

 

(a)          Notwithstanding
anything to the contrary in this Agreement, pursuant to one or more offers (each, an “Extension Offer”) made
from time to time by the Borrower to all Lenders holding Loans or Commitments of any Class, in each case on a pro rata basis (based
on the aggregate outstanding principal amount of the respective Loans of such Class) and on the same terms to each such Lender,
the Borrower is hereby permitted to consummate transactions with any individual Lender who accepts the terms contained in the relevant
Extension Offer to extend the Maturity Date of such Lender’s Loans of such Class and otherwise modify the terms of such Loans
pursuant to the terms of the relevant Extension Offer (including by increasing the interest rate or fees payable in respect of
such Loans and/or Commitments (and related outstandings) and/or modifying the amortization schedule, if any, in respect of such
Loans) (each, an “Extension”, and each group of Loans or Commitments, as applicable, in each case as so extended,
and the original Loans and the original Commitments (in each case not so extended), being a “tranche”); it being
understood that any Extended Term Loans shall constitute a separate tranche of Loans from the tranche of Loans from which they
were converted, so long as the following terms are satisfied:

 

(i)          except
as to (A) interest rates, fees, amortization, final maturity date, premiums, required prepayment dates and participation in prepayments
(which shall, subject to immediately succeeding clauses (iii), (iv) and (v), be determined by the Borrower
and any Lender who agrees to an Extension of its Term Loans and set forth in the relevant Extension Offer) and (B) any covenants
or other provisions applicable only to periods after the Latest Maturity Date (in each case, as of the date of such Extension),
the Term Loans of any Lender extended pursuant to any Extension (any such extended Term Loans, the “Extended Term Loans”)
shall have the same terms (or terms not less favorable to existing Lenders) as the tranche of Term Loans subject to the relevant
Extension Offer; provided, however, that any representations and warranties, affirmative and negative covenants (including
financial covenants) and events of default applicable to such tranche of Extended Term Loans that also expressly apply to (and
for the benefit of) the tranche of Term Loans subject to the Extension Offer and each other Class of Term Loans hereunder may be
more favorable to the lenders of the applicable tranche of Extended Term Loans than those originally applicable to the tranche
of Term Loans subject to the Extension Offer;

 

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(ii)         the
final Maturity Date of any Extended Term Loans may be no earlier than the then applicable Latest Maturity Date of the Class of
Term Loans being extended at the time of Extension;

 

(iii)        the
Weighted Average Life to Maturity of any Extended Term Loans shall be no shorter than the remaining Weighted Average Life to Maturity
of the Class of Term Loans being extended;

 

(iv)        any
Extended Term Loans may participate on a pro rata basis or a less than pro rata basis (but not a greater than pro rata basis with
respect to any mandatory prepayment) in any mandatory repayments or prepayments (but, for purposes of clarity, not scheduled amortization
payments) in respect of the Term Loans, in each case as specified in the relevant Extension Offer;

 

(v)         if
the aggregate principal amount of Loans in respect of which Lenders have accepted the relevant Extension Offer exceed the maximum
aggregate principal amount of Loans offered to be extended by the Borrower pursuant to such Extension Offer, then the Loans of
such Lenders shall be extended ratably up to such maximum amount based on the respective principal amounts (but not to exceed the
applicable Lender’s actual holdings of record) with respect to which such Lenders have accepted such Extension Offer;

 

(vi)        unless
the Administrative Agent otherwise agrees, any Extension must be in a minimum amount of $5,000,000;

 

(vii)       any
applicable Minimum Extension Condition must be satisfied or waived by the Borrower; and

 

(viii)      any
documentation in respect of any Extension shall be consistent with the foregoing.

 

(b)          (i)
No Extension consummated in reliance on this Section 2.20, shall constitute a voluntary or mandatory prepayment for purposes
of Section 2.08, (ii) the scheduled amortization payments (insofar as such schedule affects payments due to Lenders
participating in the relevant Class) set forth in Section 2.07 shall be adjusted to give effect to any Extension of any
Class of Loans and (iii) except as set forth in clause (a)(vi) above, no Extension Offer is required to be in any minimum
amount or any minimum increment; provided that the Borrower may, at its election, specify as a condition (a “Minimum
Extension Condition”) to the consummation of any Extension that a minimum amount (to be specified in the relevant Extension
Offer in the Borrower’s sole discretion) of Loans or Commitments (as applicable) of any or all applicable tranches be tendered;
it being understood that the relevant Borrower may, in its sole discretion, waive any such Minimum Extension Condition. The Administrative
Agent and the Lenders hereby consent to the transactions contemplated by this Section 2.20 (including, for the avoidance
of doubt, the payment of any interest, fees or premium in respect of any Extended Term Loans on such terms as may be set forth
in the relevant Extension Offer) and hereby waive the requirements of any provision of this Agreement (including Sections 2.07,
2.08 or 2.15) or any other Loan Document that may otherwise prohibit any Extension or any other transaction contemplated
by this Section.

 

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(c)          No
consent of any Lender or the Administrative Agent shall be required to effectuate any Extension, other than the consent of each
Lender agreeing to such Extension with respect to one or more of its Loans of any Class (or a portion thereof). All Extended Term
Loans and all obligations in respect thereof shall constitute Secured Obligations under this Agreement and the other Loan Documents
that are secured by the Collateral and guaranteed on a pari passu basis with all other applicable Secured Obligations under this
Agreement and the other Loan Documents. The Lenders hereby irrevocably authorize the Administrative Agent to enter into any Extension
Amendment and any amendments to any of the other Loan Documents with the Loan Parties as may be necessary in order to establish
new Classes or sub-Classes in respect of Loans or Commitments so extended and such technical amendments as may be necessary or
appropriate in the reasonable opinion of the Administrative Agent and the Borrower in connection with the establishment of such
new Classes or sub-Classes, in each case on terms consistent with this Section 2.20.

 

(d)          In
connection with any Extension, the Borrower shall provide the Administrative Agent at least five Business Days’ (or such
shorter period as may be agreed by the Administrative Agent) prior written notice thereof, and shall agree to such procedures (including
regarding timing, rounding and other adjustments and to ensure reasonable administrative management of the credit facilities hereunder
after such Extension), if any, as may be established by, or acceptable to, the Administrative Agent, in each case acting reasonably
to accomplish the purposes of this Section 2.20.

 

Article
3

REPRESENTATIONS AND WARRANTIES

 

On the Closing Date
and on the other dates required pursuant to Article 4, Holdings and Intermediate Holdings (in each case solely with respect
to Sections 3.01, 3.02, 3.03, 3.07, 3.08, 3.09, 3.13, 3.14, 3.15,
3.16 and 3.17) and the Borrower, represent and warrant to the Lenders that:

 

Section 3.01         Organization;
Powers. Holdings, Intermediate Holdings, the Borrower and each of its Restricted Subsidiaries (a) is (i) duly organized
and validly existing and (ii) in good standing (to the extent such concept exists in the relevant jurisdiction) under the
Requirements of Law of its jurisdiction of organization, (b) has all requisite organizational power and authority to own its
assets and to carry on its business as now conducted and (c) is qualified to do business in, and is in good standing (to the
extent such concept exists in the relevant jurisdiction) in, every jurisdiction where the ownership, lease or operation of its
properties or conduct of its business requires such qualification, except, in each case referred to in this Section 3.01
(other than clause (a)(i) with respect to the Borrower) where the failure to do so, individually or in the aggregate, would
not reasonably be expected to result in a Material Adverse Effect.

 

Section 3.02         Authorization;
Enforceability. The execution, delivery and performance by each Loan Party of each Loan Document to which such Loan Party is
a party are within such Loan Party’s corporate or other organizational power and have been duly authorized by all necessary
corporate or other organizational action of such Loan Party. Each Loan Document to which any Loan Party is a party has been duly
executed and delivered by such Loan Party and is a legal, valid and binding obligation of such Loan Party, enforceable against
such Loan Party in accordance with its terms, subject to the Legal Reservations.

 

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Section 3.03         Governmental
Approvals; No Conflicts. The execution and delivery of each Loan Document by each Loan Party party thereto and the performance
by such Loan Party thereof (a) do not require any consent or approval of, registration or filing with, or any other action
by, any Governmental Authority, except (i) such as have been obtained or made and are in full force and effect, (ii) in
connection with the Perfection Requirements and (iii) such consents, approvals, registrations, filings, or other actions the
failure to obtain or make which would not be reasonably expected to have a Material Adverse Effect, (b) will not violate any
(i) of such Loan Party’s Organizational Documents or (ii) Requirement of Law applicable to such Loan Party which violation,
in the case of this clause (b)(ii), would reasonably be expected to have a Material Adverse Effect and (c) will not
violate or result in a default under any Contractual Obligation to which such Loan Party is a party which violation, in the case
of this clause (c), would reasonably be expected to result in a Material Adverse Effect.

 

Section 3.04         Financial
Condition; No Material Adverse Effect.

 

(a)          The
financial statements of Target provided pursuant to Section 4.01(c)(i) present fairly, in all material respects, the financial
position and results of operations and cash flows of Target and its subsidiaries on a consolidated basis as of such dates and for
such periods in accordance with GAAP, subject, in the case of any such unaudited financial statements, to the absence of footnotes
and normal year-end adjustments.

 

(b)          Since
the Closing Date, there have been no events, developments or circumstances that have had, or would reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect.

 

Section 3.05         Properties.

 

(a)          As
of the Closing Date, Schedule 1.01(c) sets forth the address of each Real Estate Asset (or each set of such assets that
collectively comprise one operating property) having a fair market value in excess of $5,000,000 that is owned in fee simple by
any Loan Party.

 

(b)          The
Borrower and each of its Restricted Subsidiaries have good and valid fee simple title to or rights to purchase, or valid leasehold
interests in, or easements or other limited property interests in, all of their respective Real Estate Assets and have good title
to their personal property and assets, in each case, except (i) for defects in title that do not materially interfere with
their ability to conduct their business as currently conducted or to utilize such properties and assets for their intended purposes
or (ii) where the failure to have such title or rights would not reasonably be expected to have a Material Adverse Effect.

 

(c)          The
Borrower and its Restricted Subsidiaries solely and exclusively own or otherwise have a valid license or right to use all rights
in any and all intellectual property or other similar proprietary rights throughout the world, including any and all Patents, Trademarks,
Copyrights, domain names, design rights, proprietary rights, technology, software, trade secrets, know-how, database rights and
all related documentation, registrations, additions, improvements or accessions, and all goodwill and rights to sue for past, present
and future infringement associated with any of the foregoing (collectively, “IP Rights”) that are used in, held
for use in or otherwise necessary for their respective businesses as presently conducted without any infringement, dilution, misappropriation
or other violation of the IP Rights of third parties, except to the extent the failure to own or have a license or have rights
to use would not, or where such infringement, dilution, misappropriation or other violation would not reasonably be expected to
have, individually or in the aggregate, a Material Adverse Effect. To the knowledge of the Borrower, neither the Borrower nor any
of its Restricted Subsidiaries infringes upon, misuses, dilutes, misappropriates or otherwise violates any IP Rights held by any
Person, except any such infringement, misuse, dilution, misappropriation or other violation would not reasonably be expected to
have, individually or in the aggregate, a Material Adverse Effect. No claim or litigation regarding any IP Rights is pending or,
to the knowledge of the Borrower, threatened in writing against Borrower or any Restricted Subsidiary, that would reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect.

 

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Section 3.06         Litigation
and Environmental Matters.

 

(a)          There
are no actions, suits or proceedings by or before any arbitrator or Governmental Authority pending against or, to the knowledge
of the Borrower, threatened in writing against or affecting the Borrower or any of its Restricted Subsidiaries which would reasonably
be expected, individually or in the aggregate, to result in a Material Adverse Effect.

 

(b)          Except
for any matters that, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect,
(i) neither the Borrower nor any of its Restricted Subsidiaries is subject to or has received written notice of any Environmental
Claim or knows of any basis for any Environmental Claim against the Borrower or its Restricted Subsidiaries and (ii) neither
the Borrower nor any of its Restricted Subsidiaries (A) has failed to comply with any Environmental Law or to obtain, maintain
or comply with any Governmental Authorization required under any Environmental Law or (B) is subject to, or knows of any basis
for, any Environmental Liability.

 

(c)          Neither
the Borrower nor any of its Restricted Subsidiaries has conducted any Hazardous Materials Activities in a manner that would reasonably
be expected to have a Material Adverse Effect.

 

Section 3.07         Compliance
with Laws. Each of Holdings, Intermediate Holdings, the Borrower and each of its Restricted Subsidiaries is in compliance with
all Requirements of Law applicable to it or its property, except, in each case, where the failure to do so, individually or in
the aggregate, would not reasonably be expected to result in a Material Adverse Effect; it being understood and agreed that this
Section 3.07 shall not apply to the Requirements of Law covered by Section 3.15.

 

Section 3.08         Investment
Company Status. None of the Loan Parties is an “investment company” as defined in, or is required to be registered
under, the Investment Company Act of 1940.

 

Section 3.09         Taxes.
Each of Holdings, Intermediate Holdings, the Borrower and each of its Restricted Subsidiaries has timely filed or caused to be
filed all Tax returns and reports required to have been filed and has paid or caused to be paid all Taxes required to have been
paid by it that are due and payable (including in its capacity as a withholding agent), except (a) Taxes (or any requirement to
file Tax returns with respect thereto) that are being contested in good faith by appropriate proceedings and for which Holdings,
Intermediate Holdings, the Borrower or such Restricted Subsidiary, as applicable, has set aside on its books adequate reserves
in accordance with GAAP or (b) to the extent that the failure to do so, individually or in the aggregate, would not reasonably
be expected to result in a Material Adverse Effect.

 

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Section 3.10         ERISA.

 

(a)          Each
Plan is in compliance in form and operation with its terms and with ERISA and the Code and all other applicable Requirements of
Law, except where any failure to comply would not reasonably be expected to result in a Material Adverse Effect. There are no pending,
or to the knowledge of the Borrower or any of its Restricted Subsidiaries, threatened material claims (other than claims for benefits
in the ordinary course), sanctions, actions, suits, or proceedings asserted or instituted by any Person against any Plan or any
Person as fiduciary or sponsor of any Plan, except as would not result in a Material Adverse Effect.

 

(b)          No
ERISA Event has occurred and is continuing or is reasonably expected to occur that, when taken together with all other such ERISA
Events, would reasonably be expected to result in a Material Adverse Effect.

 

Section 3.11         Disclosure.

 

(a)          As
of the Closing Date, all written information (other than the Projections, other forward-looking and/or projected information and
information of a general economic or industry-specific nature) concerning Holdings, Intermediate Holdings, the Borrower and its
subsidiaries that was included in the Information Memorandum or otherwise prepared by or on behalf of Holdings, Intermediate Holdings,
the Borrower and its subsidiaries or their respective representatives and made available to any Initial Lender or the Administrative
Agent in connection with the Transactions on or before the Closing Date (the “Information”), when taken as a
whole, did not, when furnished, contain any untrue statement of a material fact or omit to state a material fact necessary in order
to make the statements contained therein not materially misleading in light of the circumstances under which such statements are
made (after giving effect to all supplements and updates thereto from time to time).

 

(b)          The
Projections have been prepared in good faith based upon assumptions believed by the Borrower to be reasonable at the time furnished
(it being recognized that such Projections are not to be viewed as facts and are subject to significant uncertainties and contingencies,
many of which are beyond the Borrower’s control, that no assurance can be given that any particular financial projections
will be realized, that actual results may differ from projected results and that such differences may be material).

 

(c)          As
of the Closing Date, the information included in the Beneficial Ownership Certification is true and correct in all material respects.

 

Section 3.12         Security
Interest in Collateral. Subject to the terms of the last paragraph of Section 4.01, the Legal Reservations, the Perfection
Requirements, the Intercreditor Agreement and the provisions of this Agreement and the other relevant Loan Documents, the Collateral
Documents create legal, valid and enforceable Liens on all of the Collateral in favor of the Administrative Agent, for the benefit
of itself and the other Secured Parties, and upon the satisfaction of the applicable Perfection Requirements, such Liens constitute
perfected Liens (with the priority that such Liens are expressed to have under the relevant Collateral Documents) on the Collateral
(to the extent such Liens are required to be perfected under the terms of the Loan Documents) securing the Secured Obligations,
in each case as and to the extent set forth therein.

 

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Section 3.13         Labor
Disputes. As of the Closing Date, except as individually or in the aggregate would not reasonably be expected to have a Material
Adverse Effect, (a) there are no strikes, lockouts or slowdowns against the Borrower or any of its Restricted Subsidiaries
pending or, to the knowledge of the Borrower, threatened and (b) the hours worked by and payments made to employees of the
Borrower and its Restricted Subsidiaries have not been in violation of the Fair Labor Standards Act or any other applicable Requirements
of Law dealing with such matters.

 

Section 3.14         Federal
Reserve Regulations.

 

(a)          None
of Holdings, Intermediate Holdings, the Borrower nor any of their respective Restricted Subsidiaries is engaged principally, or
as one of its important activities, in the business of extending credit for the purpose of buying or carrying Margin Stock.

 

(b)          No
part of the proceeds of any Loan has been or will be used, whether directly or indirectly, and whether immediately, incidentally
or ultimately, for any purpose that results in a violation of the provisions of Regulation U or Regulation X.

 

Section 3.15         Sanctions;
Anti-Corruption Laws.

 

(a)          None
of Holdings, Intermediate Holdings, the Borrower, any of their respective Subsidiaries, any of their respective directors, officers,
or employees nor, to the knowledge of the Borrower, any of their respective agents or Affiliates is (i) a Person on the list
of “Specially Designated Nationals and Blocked Persons” maintained by the Office of Foreign Assets Control of the U.S.
Treasury Department (“OFAC”) or any other sanctions-related list of designated Persons maintained by OFAC, the
U.S. Department of State, the United Nations Security Council, Her Majesty’s Treasury of the United Kingdom, the European
Union or any European Union member state, (ii) located, organized or resident in a Sanctioned Country, (iii) owned or controlled
by any Person or Persons described in the foregoing clauses (a) or (a), or (iv) a Person otherwise currently the target of any
Sanctions.

 

(b)          Each
of Holdings, Intermediate Holdings, the Borrower, each of their respective Subsidiaries, and to the Borrower’s knowledge,
each of their respective directors, officers, employees and agents is in compliance, in all material respects, with (i) applicable
Sanctions, (ii) the USA PATRIOT Act, to the extent applicable, and (iii) the U.S. Foreign Corrupt Practices Act of 1977 (the
“FCPA”) and all other applicable anti-corruption laws (collectively with the FCPA, “Anti-Corruption
Laws”). No Borrowing or the use of proceeds thereof will violate any Anti-Corruption Law or applicable Sanctions.

 

Section 3.16         Solvency.

 

As of the Closing Date
and immediately after the consummation of the Transactions to occur on the Closing Date and the incurrence of indebtedness and
obligations being incurred in connection with this Agreement and the Transactions on the Closing Date; (i) the sum of the
debt (including contingent liabilities) of Holdings and its Subsidiaries, taken as a whole, does not exceed the fair value of the
assets (on an ongoing basis) of Holdings and its Subsidiaries, taken as a whole; (ii) the present fair saleable value of the
assets of Holdings and its Subsidiaries, taken as a whole, is not less than the amount that will be required to pay the probable
liabilities (including contingent liabilities) of Holdings and its Subsidiaries, taken as a whole, on their debts as they become
absolute and matured; (iii) the capital of Holdings and its Subsidiaries, taken as a whole, is not unreasonably small in relation
to the business of Holdings and its Subsidiaries, taken as a whole, contemplated as of the Closing Date; and (iv)  Holdings
and its Subsidiaries, taken as a whole, do not intend to incur, or believe that they will incur, debts (including current obligations
and contingent liabilities) beyond their ability to pay such debt as they mature in the ordinary course of business. For the purposes
hereof, the amount of any contingent liability at any time shall be computed as the amount that, in light of all of the facts and
circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability.

 

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Section 3.17         Capitalization
and Subsidiaries. Schedule 3.17 sets forth as of the Closing Date (immediately after giving to the Transactions) a correct
and complete list containing (a) the name of each subsidiary of Holdings and the ownership interest therein held by Holdings
or its applicable subsidiary, and (b) the type of entity of Holdings and each of its subsidiaries.

 

Article
4

CONDITIONS

 

Section 4.01         Closing
Date. The obligations of each Lender to make Initial Term Loans on the Closing Date, hereunder shall not become effective until
the date on which each of the following conditions is satisfied (or waived in accordance with Section 9.02):

 

(a)          Term
Loan Agreement and Loan Documents. The Administrative Agent (or its counsel) shall have received (i) from each Loan Party party
thereto, a counterpart signed by such Loan Party (or written evidence satisfactory to the Administrative Agent (which may include
a facsimile or other electronic transmission) that such party has signed a counterpart) of (A) this Agreement, (B) the Security
Agreement, (C) any Intellectual Property Security Agreement, (D) the Loan Guaranty, (E) the Intercreditor Agreement and (F) each
Promissory Note requested by a Lender at least three Business Days prior to the Closing Date and (ii) a Borrowing Request as required
by Section 2.03.

 

(b)          Legal
Opinions. The Administrative Agent shall have received, on behalf of itself and the Lenders on the Closing Date, a customary
written opinion of Winston & Strawn LLP, in its capacity as special counsel to the Loan Parties, dated the Closing Date and
addressed to the Administrative Agent and the Lenders.

 

(c)          Financial
Statements. The Administrative Agent shall have received (i) an audited consolidated balance sheet and audited consolidated
statements of income, stockholders’ equity and cash flows of the Target as of and for the Fiscal Years ended on or about
October 31, 2015, October 31, 2016 and October 31, 2017, (ii) unaudited consolidated balance sheets and related statements of income
and cash flows of the Target for the Fiscal Quarters ended on or about April 30, 2018 and July 31, 2018 and (iii) a pro forma
consolidated balance sheet and related pro forma statement of income of the Borrower as of the last day of and for the four Fiscal
Quarters ended on July 31, 2018, prepared after giving effect to the Transactions as if the Transactions had occurred as of such
date (in the case of such balance sheet) or at the beginning of such period (in the case of the statement of income); provided,
that each such pro forma financial statement shall be prepared in good faith by the Borrower.

 

(d)          Secretary’s
Certificate and Good Standing Certificates. The Administrative Agent shall have received (i) a certificate of each Loan Party,
dated the Closing Date and executed by a secretary, assistant secretary or other Responsible Officer thereof, which shall (A) certify
that attached thereto are (x) a true and complete copy of the certificate or articles of incorporation, formation or organization
of such Loan Party certified by the relevant authority of its jurisdiction of organization, which certificate or articles of incorporation,
formation or organization of such Loan Party attached thereto have not been amended (except as attached thereto) since the date
reflected thereon, (y) a true and correct copy of the by-laws or operating, management, partnership or similar agreement of such
Loan Party, together with all amendments thereto as of the Closing Date and such by-laws or operating, management, partnership
or similar agreement are in full force and effect and (z) a true and complete copy of the resolutions or written consent, as applicable,
of its board of directors, board of managers, sole member or other applicable governing body authorizing the execution, delivery
and performance of the Loan Documents, and, in the case of the Borrower, the borrowings and other obligations thereunder, which
resolutions or consent have not been modified, rescinded or amended (other than as attached thereto) and are in full force and
effect, and (B) identify by name and title and bear the signatures of the officers, managers, directors or authorized signatories
of such Loan Party authorized to sign the Loan Documents to which such Loan Party is a party on the Closing Date and (ii) a good
standing (or equivalent) certificate as of a recent date for such Loan Party from the relevant authority of its jurisdiction of
organization.

 

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(e)          Representations
and Warranties. The (i) Specified Acquisition Agreement Representations shall be true and correct to the extent required by
the terms of the definition thereof and (ii) the Specified Representations shall be true and correct in all material respects on
and as of the Closing Date; provided that (A) in the case of any Specified Representation which expressly relates to a given
date or period, such representation and warranty shall be true and correct in all material respects as of the respective date or
for the respective period, as the case may be and (B) if any Specified Representation is qualified by or subject to a “material
adverse effect”, “material adverse change” or similar term or qualification, (1) the definition thereof
shall be the definition of “Material Adverse Effect” for purposes of the making or deemed making of such Specified
Representation on, or as of, the Closing Date (or any date prior thereto) and (2) such Specified Representation shall be true
and correct in all respects.

 

(f)          Fees.
Prior to or substantially concurrently with the funding of the Initial Term Loans hereunder, the Administrative Agent shall have
received (i) all fees required to be paid by the Borrower on the Closing Date pursuant to the Fee Letter and (ii) all
expenses required to be paid by the Borrower for which invoices have been presented at least three Business Days prior to the Closing
Date or such later date as the Borrower may agree (including the documented reasonable fees and expenses of legal counsel), in
each case on or before the Closing Date, which amounts may be offset against the proceeds of the Loans.

 

(g)          Solvency.
The Administrative Agent shall have received a certificate dated as of the Closing Date substantially in the form of Exhibit
L from the chief financial officer (or other person with reasonably equivalent responsibilities) of the Borrower certifying
as to the matters set forth therein.

 

(h)          Pledged
Stock and Pledged Notes. Subject to the final paragraph of this Section 4.01, the Administrative Agent shall have received
(i) the certificates representing the Capital Stock required to be pledged pursuant to the Security Agreement, together with an
undated stock power or similar instrument of transfer for each such certificate endorsed in blank by a duly authorized officer
of the pledgor thereof, and (ii) each Material Debt Instrument (if any) endorsed (without recourse) in blank (or accompanied
by a transfer form endorsed in blank) by the pledgor thereof.

 

(i)          Perfection
Certificate. The Administrative Agent shall have received a completed Perfection Certificate dated the Closing Date and signed
by a Responsible Officer of each Loan Party, together with all attachments contemplated thereby.

 

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(j)          Filings,
Registrations and Recordings. Subject to the last paragraph of this Section 4.01 and the terms of each applicable Collateral
Document, each document (including any UCC (or similar) financing statement) required by the applicable Collateral Documents or
under applicable Requirements of Law to be filed, registered or recorded in order to create in favor of the Administrative Agent,
for the benefit of the Secured Parties, a perfected Lien on the Collateral required to be delivered pursuant to such Collateral
Documents, prior and superior in right to any other Person (other than with respect to Permitted Liens and subject to the Intercreditor
Agreement), shall be in proper form for filing, registration or recordation.

 

(k)          Closing
Date Material Adverse Effect. Except as otherwise contemplated by the Acquisition Agreement, since September 7, 2018, there
shall not have occurred a Material Adverse Effect (as defined in the Acquisition Agreement as in effect on September 7, 2018) on
the Target.

 

(l)          Refinancing.
Prior to or substantially concurrently with the funding of the Initial Term Loans hereunder,  all existing third party debt
for borrowed money of the Target and its subsidiaries, other than (A) Indebtedness outstanding under the ABL Facility, (B) Indebtedness
permitted to remain outstanding after the Closing Date under the Acquisition Agreement and (C) Indebtedness described on Schedule
6.01 hereto, will be repaid, redeemed, defeased, discharged, refinanced or terminated (or irrevocable notice for the repayment
or redemption thereof will be given to the extent accompanied by any prepayments or deposits required to defease, terminate and
satisfy in full the obligations under any related indentures or notes) and all commitments thereunder shall have been terminated
(the actions described in this Section 4.01(l), the “Target Refinancing”).

 

(m)          USA
PATRIOT Act. No later than three Business Days in advance of the Closing Date, the Administrative Agent shall have received
all documentation and other information reasonably requested by it in writing at least ten Business Days in advance of the Closing
Date, which documentation or other information is required by regulatory authorities under applicable “know your customer”,
Beneficial Ownership Regulations and anti-money laundering rules and regulations, including the USA PATRIOT Act. At least three
Business Days prior to the Closing Date, any Borrower that qualifies as a “legal entity customer” under the Beneficial
Ownership Regulation shall deliver a Beneficial Ownership Certification in relation to such Borrower.

 

(n)          Acquisition.
Substantially concurrently with the funding of the Initial Term Loans hereunder, the Acquisition shall be consummated in accordance
with the terms of the Acquisition Agreement.

 

(o)          Equity
Contributions. Prior to, or substantially concurrently with the funding of the Initial Term Loans hereunder:

 

(i)          Holdings
will enter into one or more subscription agreements with certain institutional and accredited investors and other investors identified
to the Arrangers prior to the Closing Date (the “Closing Date Investors”) and consummate transactions on the
Closing Date (including “private investment in public equity” transactions and transactions that “backstop”
redemptions by the Buyer’s shareholders), pursuant to which the Closing Date Investors will purchase shares of common stock
or convertible preferred or other equity (which such convertible preferred or other equity shall be reasonably satisfactory to
the Arrangers; provided, it is agreed that the preferred equity contemplated to be issued by Holdings to one or more funds
and accounts of Nuveen Alternatives Advisors, LLC pursuant to the Subscription Agreement, dated as of September 7, 2018 and as
in effect on such date, between Holdings and Nuveen Alternatives Advisors, LLC and the related term sheet as in effect on such
date, is reasonably satisfactory to the Arrangers) of Holdings for an aggregate purchase price of not less than $25,000,000 (the
“Closing Date Investor Equity Contributions”);

 

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(ii)         Sponsor
and its Affiliates will purchase shares of Holdings’ common stock or convertible preferred or other equity (which such convertible
preferred or other equity shall be reasonably satisfactory to the Arrangers) for an aggregate purchase price not less than $27,400,000.00
(the “Sponsor Equity Contributions”); and

 

(iii)        The
Equity Contributions will be made in cash in an aggregate amount that, when taken together with the cash held in trust by the Buyer
(less any redemptions by the Buyer’s shareholders) (the “Buyer Trust Funds”) and the fair market value
(with fair market value deemed to be the actual redemption price of such equity as of the Closing Date (but not less than $10.20
per share)) of the equity of the Target’s existing direct or indirect equity holders and/or members of management that will
be retained, rolled over, converted or re-invested as shares of Holdings’ common stock or convertible preferred or other
equity (which such convertible preferred or other equity shall be reasonably satisfactory to the Lead Arrangers), if any, on the
Closing Date (the “Rollover Equity”) will constitute an aggregate amount not less than 37.5% of the sum of (A)
the gross proceeds of the Initial Term Loans made on the Closing Date, (B) the proceeds of loans incurred under the ABL Facility
incurred on the Closing Date used to finance a portion of the Transactions (excluding, in the case of clause (A) and (B), the proceeds
of any Initial Term Loans or loans under the ABL Facility to fund original issue discount or upfront fees as a result of the application
of the “flex provisions” of the Fee Letter, (C) the Equity Contributions, (D) the Buyer Trust Funds and (E) the Rollover
Equity.

 

(p)          ABL
Credit Agreement. The “Loan Documents” (as defined in the ABL Credit Agreement) required by the terms of the ABL
Credit Agreement to be executed on the Closing Date shall have been, or substantially concurrently with the making of the Initial
Term Loans hereunder on the Closing Date shall be, duly executed and delivered by each Loan Party that is party thereto.

 

(q)          Closing
Certificate. The Administrative Agent shall have received a certificate signed by a Responsible Officer of the Borrower attesting
to the matters set forth in Sections 4.01(e) and (k).

 

For purposes of determining
whether the conditions specified in this Section 4.01 have been satisfied on the Closing Date, by funding the Loans hereunder,
the Administrative Agent and each Lender shall be deemed to have consented to, approved or accepted, or to be satisfied with, each
document or other matter required hereunder to be consented to or approved by or acceptable or satisfactory to the Administrative
Agent or such Lender, as the case may be.

 

Notwithstanding the
foregoing, to the extent that the Lien on any Collateral is not or cannot be created or perfected on the Closing Date (other than
(a) execution and delivery of the Security Agreement by the Loan Parties, (b) a Lien on Collateral that is of the type that may
be perfected solely by the filing of a financing statement under the UCC and (c) a Lien on the Capital Stock of the Borrower and
each Subsidiary Guarantor (other than any subsidiary of the Target the certificate evidencing the Capital Stock of which has not
been delivered to Merger Sub at least two Business Days prior to the Closing Date, to the extent Merger Sub has used commercially
reasonable efforts to procure delivery thereof) that may be perfected on the Closing Date by the delivery of a stock or equivalent
certificate (together with a stock power or similar instrument endorsed in blank for the relevant certificate)), in each case after
the Merger Sub’s use of commercially reasonable efforts to do so without undue burden or expense, then the creation and/or
perfection of such Lien shall not constitute a condition precedent to the availability or initial funding of the Term Facility
on the Closing Date.

 

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Article
5

AFFIRMATIVE COVENANTS

 

From the Closing Date
until the date that all Commitments have expired or terminated and the principal of and interest on each Loan and all fees, expenses
and other amounts payable under any Loan Document (other than contingent indemnification obligations for which no claim or demand
has been made) have been paid in full in Cash (such date, the “Termination Date”), Holdings (solely with respect
to Section 5.01(a), 5.01(b), 5.02, 5.03, 5.12 and 5.14), Intermediate Holdings (solely
with respect to Section 5.02, 5.03, 5.12 and 5.14) and the Borrower hereby covenant and agree with
the Lenders that:

 

Section 5.01         Financial
Statements and Other Reports. Holdings will deliver to the Administrative Agent for delivery to each Lender:

 

(a)          Quarterly
Financial Statements. As soon as available, and in any event within 45 days after the end of each of the first three Fiscal
Quarters of each Fiscal Year, the consolidated balance sheet of Holdings as at the end of such Fiscal Quarter and the related consolidated
statements of operations and cash flows of Holdings for such Fiscal Quarter and for the period from the beginning of the then current
Fiscal Year to the end of such Fiscal Quarter, and setting forth, in reasonable detail, in comparative form the corresponding figures
for the corresponding periods of the previous Fiscal Year, all in reasonable detail, together with a Responsible Officer Certification
(which may be included in the applicable Compliance Certificate) with respect thereto; provided, that any comparison to
a prior period will be a comparison between the entity or entities, as applicable, that issued the financial statements at the
applicable time;

 

(b)          Annual
Financial Statements. As soon as available, and in any event within 90 days after the end of each Fiscal Year, (i) the
consolidated balance sheet of Holdings as at the end of such Fiscal Year and the related consolidated statements of operations,
stockholders’ equity and cash flows of Holdings for such Fiscal Year and, commencing after the completion of the second full
Fiscal Year ended after the Closing Date, setting forth, in reasonable detail, in comparative form the corresponding figures for
the previous Fiscal Year and (ii) with respect to such consolidated financial statements, a report thereon of BDO USA, LLP
or another independent certified public accountant of recognized national standing (which report shall be unqualified as to “going
concern” and scope of audit (except for any such qualification pertaining to the impending maturity of any Indebtedness,
including the Term Facility and/or the ABL Facility, occurring within 12 months of the date of the relevant audit opinion or the
actual or prospective breach of any financial covenant), and shall state that such consolidated financial statements fairly present,
in all material respects, the consolidated financial position of Holdings as at the dates indicated and the results of its operations
and cash flows for the periods indicated in conformity with GAAP);

 

(c)          Compliance
Certificate. Together with each delivery of financial statements of Holdings pursuant to Sections 5.01(a) and (b),
(i) a duly executed and completed Compliance Certificate and (ii) (A) a summary of the pro forma adjustments necessary
to eliminate the accounts of Unrestricted Subsidiaries (if any) from such financial statements and (B) a list identifying each
subsidiary of the Borrower as a Restricted Subsidiary or an Unrestricted Subsidiary as of the date of delivery of such Compliance
Certificate or confirming that there is no change in such information since the later of the Closing Date and the date of the last
such list;

 

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(d)          Narrative
Report. Simultaneously with the delivery of each set of consolidated financial statements referred to in Sections 5.01(a)
and (b) above, a Narrative Report;

 

(e)          Notice
of Default. Promptly upon any Responsible Officer of the Borrower obtaining knowledge of (i) any Default or Event of Default
or (ii) the occurrence of any event or change that has caused or evidences, either individually or in the aggregate, a Material
Adverse Effect, a reasonably-detailed notice specifying the nature and period of existence of such condition, event or change and
what action the Borrower has taken, is taking and proposes to take with respect thereto;

 

(f)          Notice
of Litigation. Promptly upon any Responsible Officer of the Borrower obtaining knowledge of (i) the institution of, or
threat of, any Adverse Proceeding not previously disclosed in writing by the Borrower to the Lenders, or (ii) any material
development in any Adverse Proceeding that, in the case of either clause (i) or (ii), could reasonably be expected
to have a Material Adverse Effect, written notice thereof from the Borrower together with such other non-privileged information
as may be reasonably available to the Loan Parties to enable the Lenders to evaluate such matters;

 

(g)          ERISA.
Promptly upon any Responsible Officer of the Borrower becoming aware that any ERISA Event has occurred or is reasonably expected
to occur that, alone or together with any other ERISA Event that has occurred or is reasonably expected to occur, could reasonably
be expected to have a Material Adverse Effect, a written notice specifying the nature thereof;

 

(h)          Financial
Plan. As soon as available and in any event no later than 60 days after the beginning of each Fiscal Year, an annual budget
prepared by management of the Borrower, consisting of condensed income statements on an annual basis for such Fiscal Year (such
budget, the “Financial Plan”);

 

(i)          Information
Regarding Collateral. Prompt (and, in any event, within 60 days of the relevant change (or such later date as the Administrative
Agent may reasonably agree)) written notice of any change (i) in any Loan Party’s legal name, (ii) in any Loan Party’s
type of organization or (iii) in any Loan Party’s jurisdiction of organization, in each case to the extent such information
is necessary to enable the Administrative Agent to perfect or maintain the perfection and priority of its security interest in
the Collateral of the relevant Loan Party;

 

(j)          Collateral
Verification. Together with the delivery of each Compliance Certificate provided with the financial statements required to
be delivered pursuant to Section 5.01(b), a Perfection Certificate Supplement;

 

(k)          Beneficial
Ownership Updates. Written notification of any change in the information provided in the Beneficial Ownership Certification
that would result in a change to the list of beneficial owners identified in parts (c) or (d) of such certification.

 

(l)          Certain
Reports. Promptly upon their becoming available and without duplication of any obligations with respect to any such information
that is otherwise required to be delivered under the provisions of any Loan Document, copies of all regular and periodic reports
and all registration statements (other than on Form S-8 or a similar form) and prospectuses, if any, filed by Holdings, the Borrower
or its applicable Parent Company with any securities exchange or with the SEC or any analogous governmental or private regulatory
authority with jurisdiction over matters relating to securities;

 

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(m)          Other
Information. Such other certificates, reports and information (financial or otherwise) as the Administrative Agent may reasonably
request from time to time in connection with the financial condition or business of Holdings, Intermediate Holdings, the Borrower
and its Restricted Subsidiaries, including information and documentation reasonably requested by the Administrative Agent or any
Lender for purposes of compliance with applicable “know your customer” requirements under the USA PATRIOT Act or other
applicable anti-money laundering laws; provided, however, that none of Holdings, Intermediate Holdings, the Borrower
nor any Restricted Subsidiary shall be required to disclose or provide any information (i) that constitutes non-financial trade
secrets or non-financial proprietary information of Holdings, Intermediate Holdings, the Borrower or any of its subsidiaries or
any of their respective customers and/or suppliers, (ii) in respect of which disclosure to the Administrative Agent or any Lender
(or any of their respective representatives) is prohibited by applicable Requirements of Law, (iii) that is subject to attorney-client
or similar privilege or constitutes attorney work product or (iv) in respect of which Holdings, Intermediate Holdings, the Borrower
or any Restricted Subsidiary owes confidentiality obligations to any third party (provided such confidentiality obligations
were not entered into in contemplation of the requirements of this Section 5.01(m)); provided, further to the extent
any certificates, reports or other information are withheld or otherwise not provided in reliance on any of the foregoing clauses
(i) through (iv), the Borrower will provide notice to the Administrative Agent that such information is being withheld
and the Borrower shall use commercially reasonable efforts to obtain the relevant consents under such obligations of confidentiality
to permit the provision of such information; and

 

Documents required
to be delivered pursuant to this Section 5.01 may be delivered electronically and if so delivered, shall be deemed to have
been delivered on the date (i) on which the Borrower (or a representative thereof) (x) posts or files such documents or (y) provides
a link thereto, in each case, on EDGAR at www.sec.gov (or other successor government website that is freely and readily
available to the Administrative Agent) or at the website address listed on Schedule 9.01; provided that, other
than with respect to items required to be delivered pursuant to Section 5.01(m) above, the Borrower shall promptly notify
(which notice may be by facsimile or electronic mail) the Administrative Agent of the posting of any such documents at the foregoing
website addresses and provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents;
(ii) on which such documents are delivered by the Borrower to the Administrative Agent for posting on behalf of the Borrower
on IntraLinks/SyndTrak or another relevant website, if any, to which each Lender and the Administrative Agent have access (whether
a commercial, third-party website or whether sponsored by the Administrative Agent); or (iii) on which such documents are
faxed to the Administrative Agent (or electronically mailed to an address provided by the Administrative Agent).

 

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The Borrower hereby
acknowledges that (a) the Administrative Agent and/or the Arrangers will make available to the Lenders materials and/or information
provided by or on behalf of the Borrower hereunder (collectively, “Borrower Materials”) by posting the Borrower
Materials on IntraLinks or another similar electronic system (the “Platform”) and (b) certain of the Lenders
(each, a “Public Lender”) may have personnel who do not wish to receive MNPI with respect to the Borrower and
its Restricted Subsidiaries, or the respective securities of any of the foregoing, and who may be engaged in investment and other
market-related activities with respect to any such Persons’ securities. The Borrower hereby agrees that it will use commercially
reasonable efforts to identify that portion of the Borrower Materials that may be distributed to the Public Lenders and that (w)
all such Borrower Materials shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that
the word “PUBLIC” shall appear prominently on the first page thereof; (x) by marking Borrower Materials “PUBLIC,”
the Borrower shall be deemed to have authorized the Administrative Agent, the Arrangers, the L/C Issuers and the Lenders to treat
such Borrower Materials as not containing any MNPI (although it may be sensitive and proprietary) (provided, however,
that to the extent such Borrower Materials constitute Information, they shall be treated as set forth in Section 9.13);
(y) all Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform designated
“Public Side Information;” and (z) the Administrative Agent and the Arrangers shall treat any Borrower Materials that
are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public
Side Information.” Notwithstanding the foregoing, the Borrower shall not be under any obligation to mark any Borrower Materials
“PUBLIC.” The Borrower agrees that (i) any Loan Documents, (ii) any financial statements delivered pursuant to Section
5.01 and (iii) any Compliance Certificates (excluding any annual budget required to be delivered pursuant to Section 5.01(h)
to the extent attached to any Compliance Certificate) delivered pursuant to Section 5.01(c) will, in each case, be deemed
to be “public-side” Borrower Materials and may be made available to Public Lenders; provided, however, that
to the extent the Borrower believes in good faith that any Compliance Certificate (excluding any annual budget) contains MNPI,
and the Borrower so advises the Administrative Agent in writing at the time of delivery of such Compliance Certificate, such Compliance
Certificate shall not be deemed to be “public-side” Borrower Materials, but the Borrower shall promptly provide the
Administrative Agent with a version of such Compliance Certificate that redacts any portions thereof that contain MNPI so that
such redacted version may be “public-side” Borrower Material.

 

Section 5.02         Existence.
Except as otherwise permitted under Section 6.07 or Section 6.11, Holdings, Intermediate Holdings and the Borrower
will, and the Borrower will cause each of its Restricted Subsidiaries to, at all times preserve and keep in full force and effect
its existence and all rights and franchises, licenses and permits material to its business except, other than with respect to the
preservation of the existence of the Borrower, to the extent that the failure to do so would not reasonably be expected to result
in a Material Adverse Effect; provided that, neither Holdings, Intermediate Holdings nor the Borrower nor any of its Restricted
Subsidiaries shall be required to preserve any such existence (other than with respect to the preservation of existence of the
Borrower), right, franchise, license or permit if a Responsible Officer of such Person or such Person’s board of directors
(or similar governing body) determines that the preservation thereof is no longer desirable in the conduct of the business of such
Person, and that the loss thereof is not disadvantageous in any material respect to such Person or to the Lenders.

 

Section 5.03         Payment
of Taxes. Each of Holdings, Intermediate Holdings and the Borrower will, and the Borrower will cause each of its Restricted
Subsidiaries to, pay all Taxes imposed upon it or any of its properties or assets or in respect of any of its income or businesses
or franchises as the same become due and payable; provided, however, that no such Tax need be paid if (a) it
is being contested in good faith by appropriate proceedings, so long as (i) adequate reserves or other appropriate provisions,
as are required in conformity with GAAP, have been made therefor and (ii) in the case of a Tax which has resulted or may result
in the creation of a Lien on any of the Collateral, such contest proceedings conclusively operate to stay the sale of any portion
of the Collateral to satisfy such Tax or (b) failure to pay or discharge the same would not reasonably be expected to result
in a Material Adverse Effect.

 

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Section 5.04         Maintenance
of Properties. The Borrower will, and the Borrower will cause each of its Restricted Subsidiaries to, maintain or cause to
be maintained in good repair, working order and condition, ordinary wear and tear excepted, all property (including all IP Rights)
reasonably necessary to the normal conduct of business of the Borrower and its Restricted Subsidiaries and from time to time will
make or cause to be made all needed and appropriate repairs, renewals and replacements thereof except as expressly permitted by
this Agreement or where the failure to maintain such properties or make such repairs, renewals or replacements would not reasonably
be expected to have a Material Adverse Effect. In addition, the Borrower will, and will cause each of its Restricted Subsidiaries
to take all reasonable actions to preserve, protect, enforce, renew and keep in full force and effect all IP Rights used in their
respective businesses except where the failure to so preserve, protect, enforce, renew or keep in full force would not reasonably
be expected to have a Material Adverse Effect.

 

Section 5.05         Insurance.
The Borrower will maintain or cause to be maintained, with financially sound and reputable insurers, such insurance coverage with
respect to liabilities, losses or damage in respect of the assets, properties and businesses of the Borrower and its Restricted
Subsidiaries as may customarily be carried or maintained under similar circumstances by Persons of established reputation engaged
in similar businesses, in each case in such amounts (giving effect to self-insurance), with such deductibles, covering such risks
and otherwise on such terms and conditions as shall be customary for such Persons, including flood insurance with respect to each
Flood Hazard Property, in each case in compliance with the National Flood Insurance Act of 1968 and the Flood Disaster Protection
Act of 1973 (where applicable). Each such policy of insurance maintained (excluding any business interruption insurance policy,
workers’ compensation policy, employee liability policy and any other insurance policy in which such endorsements are not
customary) shall, subject to Section 5.15, (i) name the Administrative Agent on behalf of the Secured Parties as an
additional insured thereunder as its interests may appear and (ii) to the extent available from the relevant insurance carrier,
in the case of each casualty insurance policy, contain a loss payable clause or endorsement that names the Administrative Agent,
on behalf of the Lenders as the loss payee thereunder and, to the extent available, provide for at least 30 days’ prior written
notice (or 10 days’ prior written notice for any cancellation due to non-payment of premiums) to the Administrative Agent
of any cancellation of such policy, or the failure to pay any premiums thereunder.

 

Section 5.06         Inspections.
The Borrower will, and the Borrower will cause each of its Restricted Subsidiaries to, permit any authorized representative designated
by the Administrative Agent to visit and inspect any of the properties of the Borrower or any of its Restricted Subsidiaries at
which the principal financial records and executive officers of the applicable Person are located, to inspect, copy and take extracts
from its and their respective financial and accounting records, and to discuss its and their respective affairs, finances and accounts
with its and their Responsible Officers (provided that the Borrower (or any of its subsidiaries) may, if it so chooses,
be present at or participate in any such discussion), all upon reasonable notice and at reasonable times during normal business
hours; provided that, (a) only the Administrative Agent on behalf of the Lenders may exercise the rights of the Administrative
Agent and the Lenders under this Section 5.06 and (b) except as expressly set forth in the proviso below during the
continuance of an Event of Default, (i) the Administrative Agent shall not exercise such rights more often than one time during
any calendar year and (ii) only one such time per calendar year shall be at the expense of the Borrower; provided,
further, that when an Event of Default exists, the Administrative Agent (or any of its representatives or independent contractors)
may do any of the foregoing at the expense of the Borrower at any time during normal business hours and upon reasonable advance
notice; provided, further, that notwithstanding anything to the contrary herein, neither the Borrower nor any Restricted
Subsidiary shall be required to disclose, permit the inspection, examination or making of copies of or taking abstracts from, or
discuss any document, information, or other matter (A) that constitutes non-financial trade secrets or non-financial proprietary
information of the Borrower and its subsidiaries and/or any of its customers and/or suppliers, (B) in respect of which disclosure
to the Administrative Agent or any Lender (or any of their respective representatives or contractors) is prohibited by applicable
Requirements of Law, (C) that is subject to attorney-client or similar privilege or constitutes attorney work product or (D) in
respect of which Holdings, Intermediate Holdings, the Borrower or any Restricted Subsidiary owes confidentiality obligations to
any third party (provided such confidentiality obligations were not entered into in contemplation of the requirements of this Section
5.06); provided, to the extent any documents, information or other matters are withheld or otherwise not made available
for inspection in reliance on any of the foregoing clauses (A) through (D), the Borrower will provide notice to the
Administrative Agent that such information is being withheld and the Borrower shall use commercially reasonable efforts to obtain
the relevant consents under such obligations of confidentiality to permit the provision or inspection of such documents, information
or other matters.

 

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Section 5.07         Maintenance
of Book and Records. The Borrower will, and the Borrower will cause each of its Restricted Subsidiaries to, maintain proper
books of record and account containing entries of all material financial transactions and matters involving the assets and business
of the Borrower and its Restricted Subsidiaries that are full, true and correct in all material respects and permit the preparation
of consolidated financial statements in accordance with GAAP (it being understood and agreed that Foreign Subsidiaries may maintain
individual books and records in a manner to allow financial statements to be prepared in conformity with generally accepted accounting
principles that are applicable in their respective jurisdictions of organization).

 

Section 5.08         Compliance
with Laws. The Borrower will, and the Borrower will cause each of its Restricted Subsidiaries to, comply with the requirements
of (i) all applicable Requirements of Law (including all applicable Environmental Laws and ERISA, but excluding Sanctions, the
USA PATRIOT Act and the Anti-Corruption Laws), except to the extent the failure of the Borrower or the relevant Restricted Subsidiary
to comply would not reasonably be expected to have a Material Adverse Effect and (ii) the USA PATRIOT Act, Anti-Corruption Laws
and applicable Sanctions in all material respects.

 

Section 5.09         Environmental.

 

(a)          Environmental
Disclosure. The Borrower will deliver to the Administrative Agent:

 

(i)          as
soon as practicable following receipt thereof, copies of all environmental audits, investigations, analyses and reports of any
kind or character, whether prepared by personnel of the Borrower or any of its Restricted Subsidiaries or by independent consultants,
Governmental Authorities or any other Persons, with respect to environmental matters at the Borrower’s or its Restricted
Subsidiaries’ real property or with respect to any Environmental Claims or Environmental Liabilities that, in each case might
reasonably be expected to have a Material Adverse Effect;

 

(ii)         promptly
upon the occurrence thereof, written notice describing in reasonable detail (A) any Release that would reasonably be expected to
have a Material Adverse Effect, (B) any action taken by the Borrower or any of its Restricted Subsidiaries or any other Persons
of which the Borrower has knowledge in response to (1) any Hazardous Materials Activities, (2) any Environmental Claim
or (3) any Environmental Liability that in each case would reasonably be expected to have a Material Adverse Effect, or (C) discovery
by the Borrower or any of its Restricted Subsidiaries of any occurrence or condition on or at any Facility or any real property
adjoining or in the vicinity of any Facility that reasonably would be expected, individually or in the aggregate, to have a Material
Adverse Effect;

 

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(iii)        as
soon as practicable following the sending or receipt thereof by the Borrower or any of its Restricted Subsidiaries, a copy of any
and all written communications with respect to any of the following that would reasonably be expected to have a Material Adverse
Effect: (A) any Environmental Claim, (B) any Release, (C) any Environmental Liability and (D) any request made to the Borrower
or any of its Restricted Subsidiaries for information from any Governmental Authority that suggests such Governmental Authority
is investigating whether the Borrower or any of its Restricted Subsidiaries may be potentially responsible for any Hazardous Materials
Activity;

 

(iv)        prompt
written notice describing in reasonable detail (A) any proposed acquisition of stock, assets, or property by the Borrower or any
of its Restricted Subsidiaries that would reasonably be expected to expose the Borrower or any of its Restricted Subsidiaries to,
or result in, Environmental Claims against the Borrower or any of its Restricted Subsidiaries or any Environmental Liability that
would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect and (B) any proposed action to
be taken by the Borrower or any of its Restricted Subsidiaries to modify their operations in a manner that would subject the Borrower
or any of its Restricted Subsidiaries to (x) any additional obligations or requirements under any Environmental Law or (y) Environmental
Liability, in each case, that would reasonably be expected to have a Material Adverse Effect; and

 

(v)         with
reasonable promptness, such other documents and information as from time to time may be reasonably requested by the Administrative
Agent in relation to any matters disclosed pursuant to this Section 5.09(a).

 

(b)          Hazardous
Materials Activities, Etc. The Borrower shall promptly take, and shall cause each of its Restricted Subsidiaries promptly to
take, any and all actions necessary to (i) cure any violation of applicable Environmental Laws by the Borrower or its Restricted
Subsidiaries, and address with appropriate corrective or remedial action any Release or threatened Release of Hazardous Materials,
in each case, that would reasonably be expected to have a Material Adverse Effect and (ii) make an appropriate response to
any Environmental Claim against or Environmental Liability related to the Borrower or any of its Restricted Subsidiaries and discharge
any obligations it may have to any Person thereunder, in each case, where failure to do so would reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect.

 

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Section 5.10         Designation
of Subsidiaries. The Borrower may at any time after the Closing Date designate (or redesignate) any subsidiary as an Unrestricted
Subsidiary or any Unrestricted Subsidiary as a Restricted Subsidiary; provided that (i) immediately before and after
such designation, no Event of Default shall have occurred and be continuing (including after giving effect to the reclassification
of Investments in, Indebtedness of and Liens on the assets of, the applicable Restricted Subsidiary or Unrestricted Subsidiary),
(ii) the Total Leverage Ratio shall not exceed 4.20:1.00, calculated on a Pro Forma Basis after giving effect to the relevant
designation, (iii) no subsidiary may be designated as an Unrestricted Subsidiary if it is a “Restricted Subsidiary”
for purposes of the ABL Credit Agreement and (iv) as of the date of designation thereof, no Unrestricted Subsidiary shall own any
Capital Stock in any Restricted Subsidiary of the Borrower. The designation of any subsidiary as an Unrestricted Subsidiary shall
constitute an Investment by the Borrower therein at the date of designation in an amount equal to the portion of the fair market
value of the net assets of such Restricted Subsidiary attributable to the Borrower’s equity interest therein (whether direct
or indirect) as reasonably estimated by the Borrower (and such designation shall only be permitted to the extent such Investment
is permitted under Section 6.06). The designation of any Unrestricted Subsidiary as a Restricted Subsidiary shall constitute
the making, incurrence or granting as applicable, at the time of designation of any then-existing Investment, Indebtedness or Lien
of such Restricted Subsidiary, as applicable; provided that upon any re-designation of any Unrestricted Subsidiary as a
Restricted Subsidiary, the Borrower shall be deemed to continue to have an Investment in the resulting Restricted Subsidiary in
an amount (if positive) equal to (a) the Borrower’s “Investment” in such subsidiary as calculated
at the time re-designated as a Restricted Subsidiary, less (b) the portion of the fair market value of the net assets
of such Restricted Subsidiary attributable to the Borrower’s equity therein (whether direct or indirect) as reasonably estimated
by the Borrower at the time of such re-designation.

 

Section 5.11         Use
of Proceeds. The Borrower shall use the proceeds of the Initial Term Loans made on the Closing Date solely to finance a portion
of the Transactions (including the payment of Transaction Costs). No part of the proceeds of any Loan, will be used, directly or,
to the Borrower’s knowledge, indirectly, (i) in furtherance of an offer, payment, promise to pay or authorization of
the payment or giving of money, or anything else of value, to any governmental official or employee, political party, official
of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain
or direct business or obtain any improper advantage, in violation of Anti-Corruption Laws, (ii) to fund any activities or business
of or with any Person, that, at the time of such funding, is the subject of Sanctions or in any country that, at the time of such
funding, is a Sanctioned Country or (iii) in any manner that would result in a violation of applicable Sanctions.

 

Section 5.12         Covenant
to Guarantee Obligations and Give Security.

 

(a)          Upon
(i) the formation or acquisition after the Closing Date of any Restricted Subsidiary that is a Domestic Subsidiary, (ii) the designation
of any Unrestricted Subsidiary that is a Domestic Subsidiary as a Restricted Subsidiary, (iii) any Restricted Subsidiary that is
a Domestic Subsidiary ceasing to be an Immaterial Subsidiary or (iv) any Restricted Subsidiary that was an Excluded Subsidiary
ceasing to be an Excluded Subsidiary, (x) if the event giving rise to the obligation under this Section 5.12(a) occurs during
the first three Fiscal Quarters of any Fiscal Year, on or before the date on which financial statements are required to be delivered
pursuant to Section 5.01(a) for the Fiscal Quarter in which the relevant formation, acquisition, designation or cessation
occurred (provided that if such date is less than 60 days after the relevant formation, acquisition, designation or cessation
occurred, then the date in this clause (x) shall be deemed to be the date that is 60 days after the relevant formation, acquisition,
designation or cessation occurred), or (y) if the event giving rise to the obligation under this Section 5.12(a) occurs
during the fourth Fiscal Quarter of any Fiscal Year, on or before the date that is 60 days after the end of such Fiscal Quarter
(or, in the cases of clauses (x) and (y), such longer period as the Administrative Agent may reasonably agree), the
Borrower shall (A) cause such Restricted Subsidiary (other than any Excluded Subsidiary) to comply with the requirements set forth
in clause (a) of the definition of “Collateral and Guarantee Requirement”, (B) upon the reasonable request of
the Administrative Agent, cause the relevant Restricted Subsidiary to deliver to the Administrative Agent a signed copy of a customary
opinion of counsel for such Restricted Subsidiary, addressed to the Administrative Agent and the other relevant Lender and (C)
cause any applicable Loan Party to comply with the requirements set forth in clause (b) of the definition of “Collateral
and Guarantee Requirement”.

 

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(b)          Within
90 days after the acquisition by any Loan Party of any Material Real Estate Assets other than any Excluded Asset (or such longer
period as the Administrative Agent may reasonably agree), the Borrower shall cause such Loan Party to comply with the requirements
set forth in clause (b) of the definition of “Collateral and Guarantee Requirement”; it being understood and
agreed that, with respect to any Material Real Estate Asset owned by any Restricted Subsidiary at the time such Restricted Subsidiary
is required to become a Loan Party under Section 5.12(a) above, such Material Real Estate Asset shall be deemed to have
been acquired by such Restricted Subsidiary on the first day of the time period within which such Restricted Subsidiary is required
to become a Loan Party under Section 5.12(a).

 

(c)          Notwithstanding
anything to the contrary herein or in any other Loan Document, it is understood that:

 

(i)           the
Administrative Agent may grant extensions of time for the creation and perfection of security interests in, or obtaining of legal
opinions or other deliverables with respect to, particular assets or the provision of any Loan Guaranty by any Restricted Subsidiary
(in connection with assets acquired, or Restricted Subsidiaries formed or acquired, after the Closing Date), and each Lender hereby
consents to any such extension of time,

 

(ii)          any
Lien required to be granted from time to time pursuant to the definition of “Collateral and Guarantee Requirement”
shall be subject to the exceptions and limitations set forth in the Collateral Documents,

 

(iii)         perfection
by control shall not be required with respect to assets requiring perfection through control agreements or other control arrangements,
including deposit accounts, securities accounts and commodities accounts (other than any control of pledged Capital Stock (to the
extent certificated) and/or Material Debt Instruments to the extent required by the ABL Credit Agreement and subject to the Intercreditor
Agreement);

 

(iv)         no
Loan Party shall be required to seek any landlord lien waiver, bailee letter, estoppel, warehouseman waiver or other collateral
access or similar letter or agreement;

 

(v)          no
Loan Party will be required to (A) take any action outside of the U.S. in order to grant or perfect any security interest in any
asset located outside of the U.S., (B) execute any foreign law security agreement, pledge agreement, mortgage, deed or charge or
(C) make any foreign intellectual property filing, conduct any foreign intellectual property search or prepare any foreign intellectual
property schedule;

 

(vi)         in
no event will the Collateral include any Excluded Asset,

 

(vii)        no
action shall be required to perfect any Lien with respect to (1) any vehicle or other asset subject to a certificate of title
(except with respect to any such vehicle or asset that has a fair market value (as determined in good faith by the Borrower) in
excess of $150,000), (2) Letter-of-Credit Rights (except with respect to any Letter-of-Credit Rights with a value equal to or greater
than $2,500,000), (3) the Capital Stock of any Immaterial Subsidiary and/or (4) the Capital Stock of any Person that is not a subsidiary,
which Person, if a subsidiary, would constitute an Immaterial Subsidiary, in each case except to the extent that a security interest
therein can be perfected by filing a Form UCC-1 (or similar) financing statement under the UCC,

 

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(viii)       no
action shall be required to perfect a Lien in any asset in respect of which the perfection of a security interest therein would
(1) be prohibited by enforceable anti-assignment provisions set forth in any contract that is permitted or otherwise not prohibited
by the terms of this Agreement, (2) violate the terms of any contract relating to such asset that is permitted or otherwise
not prohibited by the terms of this Agreement or (3) trigger termination of any contract relating to such asset that is permitted
or otherwise not prohibited by the terms of this Agreement pursuant to any “change of control” or similar provision,

 

(ix)         no
Loan Party shall be required to perfect a security interest in any asset to the extent the perfection of a security interest in
such asset would (A) be prohibited under any applicable Requirement of Law and/or (B) result in material adverse tax consequences
to any Loan Party as reasonably determined by the Borrower and specified in a written notice to the Administrative Agent,

 

(x)          any
joinder or supplement to any Loan Guaranty, any Collateral Document and/or any other Loan Document executed by any Restricted Subsidiary
that is required to become a Loan Party pursuant to Section 5.12(a) above may, with the consent of the Administrative Agent
(not to be unreasonably withheld or delayed), include such schedules (or updates to schedules) as may be necessary to qualify any
representation or warranty set forth in any Loan Document to the extent necessary to ensure that such representation or warranty
is true and correct to the extent required thereby or by the terms of any other Loan Document, and

 

(xi)         the
Administrative Agent shall not require the taking of a Lien on, or require the perfection of any Lien granted in, those assets
as to which the cost of obtaining or perfecting such Lien (including any mortgage, stamp, intangibles or other tax or expenses
relating to such Lien) is excessive in relation to the benefit to the Lenders of the security afforded thereby as reasonably determined
by the Borrower and the Administrative Agent.

 

Section 5.13         Maintenance
of Ratings. The Borrower shall use commercially reasonable efforts to maintain (i) a public facility rating from each of S&P
and Moody’s and (ii) a public corporate credit rating and public corporate family rating (as applicable) from each of S&P
and Moody’s; provided that in no event shall the Borrower be required to maintain any specific rating with any such
agency.

 

Section 5.14         Further
Assurances. Promptly upon request of the Administrative Agent and subject to the limitations described in Section 5.12:

 

(a)          Holdings,
Intermediate Holdings and the Borrower will, and will cause each other Loan Party to, execute any and all further documents, financing
statements, agreements, instruments, certificates, notices and acknowledgments and take all such further actions (including the
filing and recordation of financing statements, fixture filings, Mortgages and/or amendments thereto and other documents), that
may be required under any applicable Requirements of Law and which the Administrative Agent may reasonably request to cause to
ensure the creation, perfection and priority of the Liens created or intended to be created under the Collateral Documents, all
at the expense of the relevant Loan Parties.

 

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(b)          Holdings,
Intermediate Holdings and the Borrower will, and will cause each other Loan Party to, promptly (i) correct any material defect
or error that may be discovered in the execution, acknowledgment, filing or recordation of any Collateral Document or other document
or instrument relating to any Collateral and (ii) do, execute, acknowledge, deliver, record, re-record, file, re-file, register
and re-register any and all such further acts, deeds, certificates, assurances and other instruments, in each case under this clause
(b), as the Administrative Agent may reasonably request from time to time to create, perfect and maintain the priority of the
security interests intended to be granted under the relevant Collateral Documents.

 

Section 5.15         Lender
Calls. Following each delivery of financial statements pursuant to Section 5.01(a) or (b), the Borrower shall
participate in a conference call with Lenders arranged by the Administrative Agent to provide discussion and analysis with respect
to the financial condition and results of operations of the Borrower and its Restricted Subsidiaries at a time reasonably requested
by the Administrative Agent.

 

Section 5.16         Post-Closing
Obligations.

 

(a)          Within
90 days of the Closing Date, with respect to the Real Estate Assets listed on Schedule 1.01(c) (other than Excluded Real
Property), the Borrower shall comply with the requirements set forth in clause (b) of the definition of “Collateral and Guarantee
Requirement”.

 

(b)          No
later than the time periods after the Closing Date set forth therein (or such longer period as the Administrative Agent may reasonably
agree), the items set forth on Schedule 5.16 shall be satisfied.

 

(c)          All
conditions precedent, covenants and representations and warranties contained in this Agreement and the other Loan Documents shall
be deemed modified to the extent necessary to permit the taking of the actions described on Schedule 5.16 within the time
periods required by this Section 5.16, rather than as elsewhere provided in the Loan Documents.

 

Article
6

NEGATIVE COVENANTS

 

From the Closing Date
and until the Termination Date has occurred, each of Holdings (solely with respect to Sections 6.11 and 6.13(i)),
Intermediate Holdings (solely with respect to Section 6.11 and 6.13(i)) and the Borrower covenant and agree with
the Lenders that:

 

Section 6.01         Indebtedness.
The Borrower shall not, nor shall it permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, assume
or otherwise become or remain liable with respect to any Indebtedness, except:

 

(a)          the
Secured Obligations (including any Additional Term Loans);

 

(b)          Indebtedness
of the Borrower owed to any Restricted Subsidiary and/or of any Restricted Subsidiary or the Borrower owed to Holdings, Intermediate
Holdings, the Borrower and/or any other Restricted Subsidiary; provided that in the case of any Indebtedness of any Restricted
Subsidiary that is not a Loan Party owing to the Borrower or any Subsidiary Guarantor, such Indebtedness shall be permitted as
an Investment under Section 6.06; provided, further, that any Indebtedness of any Loan Party owing to any
Restricted Subsidiary that is not a Loan Party must be expressly subordinated to the Obligations of such Loan Party pursuant to
the Intercompany Indebtedness Subordination Agreement or on terms that are otherwise reasonably acceptable to the Administrative
Agent;

 

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(c)          unsecured
Indebtedness arising from any agreement providing for indemnification, adjustment of purchase price or similar obligations (including
seller notes and contingent earn-out obligations) incurred in connection with any Disposition permitted hereunder or any Permitted
Acquisition or other permitted Investment, in an aggregate principal amount outstanding at any time not to exceed the greater of
$30,000,000 and 37.5% of Consolidated Adjusted EBITDA for the most recently ended Test Period;

 

(d)          Indebtedness
of the Borrower and/or any Restricted Subsidiary (i) pursuant to tenders, statutory obligations, bids, leases, governmental
contracts, trade contracts, surety, stay, customs, appeal, performance and/or return of money bonds or other similar obligations
incurred in the ordinary course of business and (ii) in respect of any letters of credit, bank guaranties, surety bonds, performance
bonds or similar instruments to support any of the foregoing items;

 

(e)          Indebtedness
of the Borrower and/or any Restricted Subsidiary in respect of commercial credit cards, stored value cards, purchasing cards, treasury
management services, netting services, overdraft protections, check drawing services, automated payment services (including depository,
overdraft, controlled disbursement, ACH transactions, return items and interstate depository network services), employee credit
card programs, cash pooling services and any arrangements or services similar to any of the foregoing and/or otherwise in connection
with Cash management and Deposit Accounts, including Banking Services Obligations and incentive, supplier finance or similar programs;

 

(f)          (i) Guarantees
by the Borrower or any of its Restricted Subsidiaries of the obligations of suppliers, customers and licensees in the ordinary
course of business, (ii) Indebtedness incurred in the ordinary course of business in respect of obligations of the Borrower
and/or any Restricted Subsidiary to pay the deferred purchase price of goods or services or progress payments in connection with
such goods and services and (iii) Indebtedness in respect of letters of credit, bankers’ acceptances, bank guaranties
or similar instruments supporting trade payables, warehouse receipts or similar facilities entered into in the ordinary course
of business;

 

(g)          Guarantees
by the Borrower and/or any Restricted Subsidiary of Indebtedness or other obligations of the Borrower, any Restricted Subsidiary
with respect to Indebtedness otherwise permitted to be incurred pursuant to this Section 6.01 or other obligations not prohibited
by this Agreement; provided that in the case of any Guarantee by any Loan Party of the obligations of any non-Loan Party,
the related Investment is permitted under Section 6.06;

 

(h)          Indebtedness
of the Borrower and/or any Restricted Subsidiary existing, or pursuant to commitments existing, on the Closing Date and described
on Schedule 6.01 and intercompany Indebtedness outstanding on the Closing Date;

 

(i)           Indebtedness
of Restricted Subsidiaries that are not Loan Parties; provided that the aggregate principal amount at any time outstanding
of such Indebtedness shall not exceed the Non-Loan Party Cap;

 

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(j)           Indebtedness
of the Borrower and/or any Restricted Subsidiary with respect to Capital Leases and purchase money Indebtedness incurred prior
to or within 270 days of the acquisition, lease, completion of construction, repair of, replacement, improvement to or installation
of the assets acquired, leased, constructed, repaired, replaced, improved or installed in connection with the incurrence of such
Indebtedness in an aggregate outstanding principal amount not to exceed the greater of $10,000,000 and ten percent (10%) of Consolidated
Adjusted EBITDA for the most recently ended Test Period;

 

(k)          Indebtedness
of any Person that becomes a Restricted Subsidiary or Indebtedness assumed in connection with a Permitted Acquisition or other
permitted Investment; provided that (i) such Indebtedness (A) existed at the time such Person became a Restricted Subsidiary
or the assets subject to such Indebtedness were acquired and (B) was not created or incurred in anticipation thereof, (ii) 
no Event of Default exists or would result from such acquisition, (iii) after giving effect to the assumption thereof, the
outstanding principal amount of Non-Loan Party Indebtedness does not exceed the Non-Loan Party Cap and (iv) after giving effect
to the assumption thereof, (1) if such Indebtedness is secured by a Lien on the Collateral that is pari passu with the Lien on
the Collateral securing the Secured Obligations, the First Lien Leverage Ratio does not exceed 3.50:1.00, (2) if such Indebtedness
is secured by a Lien on the Collateral that is junior to the Lien on the Collateral securing the Secured Obligations, the Secured
Leverage Ratio does not exceed 3.75:1.00 and (3) if such Indebtedness is unsecured, the Total Leverage Ratio does not exceed 4.20:1.00;

 

(l)          Indebtedness
consisting of promissory notes issued by the Borrower or any Restricted Subsidiary to any stockholder of any Parent Company or
any current or former director, officer, employee, member of management, manager or consultant of any Parent Company, the Borrower
or any subsidiary (or their respective Immediate Family Members) to finance the purchase or redemption of Capital Stock of any
Parent Company permitted by Section 6.04(a);

 

(m)         the
Borrower and any of its Restricted Subsidiaries may become and remain liable for any Indebtedness refinancing, refunding or replacing
any Indebtedness permitted under this clause (m) and clauses (a), (c), (h), (i), (j),
(k), (o), (q), (s) and (x) of this Section 6.01 (in any case, including any refinancing Indebtedness
incurred in respect thereof, “Refinancing Indebtedness”) and any subsequent Refinancing Indebtedness in respect
thereof; provided that any refinancing, refunding or replacement of Indebtedness permitted under Section 6.01(c), (i), (j),
(o), (s) or (x) shall continue to constitute utilization of the applicable basket; provided further that:

 

(i)            the
principal amount of such Indebtedness does not exceed the principal amount of the Indebtedness being refinanced, refunded or replaced,
except by (A) an amount equal to unpaid accrued interest and premiums (including tender premiums) thereon plus underwriting discounts,
other reasonable and customary fees, commissions and expenses (including upfront fees, original issue discount or initial yield
payments) incurred in connection with the relevant refinancing, refunding or replacement and (B) additional amounts permitted to
be incurred pursuant to this Section 6.01 (so long as such Indebtedness is permitted to be incurred pursuant to a subsection
of this Section 6.01, other than this Section 6.01(m), and, to the extent secured by Liens, such Liens are permitted
to secure such Indebtedness pursuant to a subsection of Section 6.02, other than Section 6.02(k) and is deemed to
constitute a utilization of the relevant basket or exception pursuant to which such additional amount is permitted),

 

(ii)           other
than in the case of Refinancing Indebtedness with respect to clauses (h), (j), (k), and/or (o) of this
Section 6.01 (A) such Indebtedness has a final maturity equal to or later than (and, in the case of revolving Indebtedness,
does not require mandatory commitment reductions, if any, prior to) the final maturity of the Indebtedness being refinanced, refunded
or replaced and (B) other than with respect to revolving Indebtedness, a Weighted Average Life to Maturity equal to or greater
than the Weighted Average Life to Maturity of the Indebtedness being refinanced, refunded or replaced,

 

    	 	110 	 

     

    

 

(iii)           the
terms of any Refinancing Indebtedness (excluding pricing, fees, premiums, rate floors, optional prepayment or redemption terms
(and, if applicable, subordination terms) and, with respect to Refinancing Indebtedness incurred in respect of Indebtedness permitted
under clause (a) above, security), are not, taken as a whole (as reasonably determined by the Borrower), more favorable
to the lenders providing such Indebtedness than those applicable to the Indebtedness being refinanced, refunded or replaced (other
than any covenants or any other provisions applicable only to periods after the Latest Maturity Date as of such date or any covenants
or provisions which are then-current market terms for the applicable type of Indebtedness),

 

(iv)          except
in the case of Refinancing Indebtedness incurred in respect of Indebtedness permitted under clause (a) of this Section
6.01, (A) such Indebtedness, if secured, is secured only by Permitted Liens at the time of such refinancing, refunding or replacement
(it being understood that such secured Indebtedness may go from being secured to being unsecured), (B) such Indebtedness is incurred
by the obligor or obligors in respect of the Indebtedness being refinanced, refunded or replaced, except to the extent otherwise
permitted pursuant to Sections 6.01, 6.02 and 6.06 and (C) if the Indebtedness being refinanced, refunded
or replaced was originally contractually subordinated to the Obligations in right of payment (or the Liens securing such Indebtedness
were originally contractually subordinated to the Liens on the Collateral securing the Initial Term Loans), such Indebtedness is
contractually subordinated to the Obligations in right of payment (or the Liens securing such Indebtedness are subordinated to
the Liens on the Collateral securing the Initial Term Loans) on terms not materially less favorable (as reasonably determined by
the Borrower), taken as a whole, to the Lenders than those applicable to the Indebtedness (or Liens, as applicable) being refinanced,
refunded or replaced, taken as a whole,

 

(v)           in
the case of Refinancing Indebtedness incurred in respect of Indebtedness permitted under clause (a) of this Section 6.01,
(A) such Indebtedness is pari passu or junior in right of payment and secured by the Collateral on a pari passu or junior basis
with respect to the remaining Obligations hereunder, or is unsecured; provided that any such Indebtedness that is pari passu
or junior with respect to the Collateral shall be subject to an Acceptable Intercreditor Agreement, (B) if the Indebtedness being
refinanced, refunded or replaced is secured, it is not secured by any assets other than the Collateral, (C) if the Indebtedness
being refinanced, refunded or replaced is Guaranteed, it shall not be Guaranteed by any Person other than one or more Loan Parties
and (D) such Indebtedness is incurred under (and pursuant to) documentation other than this Agreement; it being understood and
agreed that any such Indebtedness may not participate on a greater than pro rata basis in any mandatory prepayment in respect of
the Initial Term Loans (and any Additional Term Loans then subject to ratable repayment requirements); and

 

(vi)           intercompany
Indebtedness under Section 6.01(h) may only be refinanced, refunded or replaced with other intercompany Indebtedness;

 

(n)          [reserved];

 

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(o)          Indebtedness
of the Borrower and/or any Restricted Subsidiary in an aggregate outstanding principal amount not to exceed $15,000,000;

 

(p)          to
the extent constituting Indebtedness, obligations arising under the Acquisition Agreement;

 

(q)          additional
Indebtedness of the Borrower and/or any Restricted Subsidiary so long as (i) no Event of Default has occurred and is continuing
or would result therefrom and (ii) after giving effect thereto, including the application of the proceeds thereof (but without
“netting” cash proceeds of the applicable Indebtedness), (i) (1) if such Indebtedness is secured by a Lien on the Collateral
that is pari passu with the Lien on the Collateral securing the Secured Obligations, the First Lien Leverage Ratio does not exceed
3.50:1.00, (2) if such Indebtedness is secured by a Lien on the Collateral that is junior to the Lien on the Collateral securing
the Secured Obligations, the Secured Leverage Ratio does not exceed 3.75:1.00 and (3) if such Indebtedness is unsecured, the Total
Leverage Ratio does not exceed 4.20:1.00 (ii) any such Indebtedness that is subordinated to the Obligations in right of payment
or collateral shall be subject to an Acceptable Intercreditor Agreement, (iii) the Weighted Average Life to Maturity applicable
to such Indebtedness (other than customary bridge loans with a maturity date of no longer than one year; provided that any
Indebtedness exchanged for such bridge loans shall be subject to the requirements of this clause (iii)) is no shorter than
the Weighted Average Life to Maturity of the then-existing Term Loans, (iv) the final maturity date with respect to such Indebtedness
(other than customary bridge loans with a maturity date of no longer than one year; provided that any Indebtedness exchanged for
such bridge loans shall be subject to the requirements of this clause (iv)) is no earlier than the Latest Term Loan Maturity
Date on the date of the issuance or incurrence, as applicable, thereof and (v) in the case of any such Indebtedness in the form
of term loans (other than customary bridge loans) that are pari passu with the Initial Term Loans in right of payment and with
respect to security, the Effective Yield applicable thereto will not be more than 0.50% per annum higher than the Effective Yield
in respect of the Initial Term Loans unless the Effective Yield with respect to the Initial Term Loans is adjusted to be equal
to the Effective Yield applicable to such Indebtedness, minus, 0.50% per annum; provided, however, that the aggregate
outstanding principal amount of Non-Loan Party Indebtedness shall not, at any time, exceed the Non-Loan Party Cap;

 

(r)          Indebtedness
of the Borrower and/or any Restricted Subsidiary incurred in respect of (i) the ABL Facility in an aggregate outstanding principal
or committed amount that does not exceed $90,000,000, (ii) any Bank Product Obligations and Hedge Obligations (each as defined
in the ABL Credit Agreement as in effect on the date hereof) and (iii) any accrued interest, penalties, premiums, expenses and
indemnification obligations under the ABL Facility;

 

(s)          Incremental
Equivalent Debt;

 

(t)          Indebtedness
(including obligations in respect of letters of credit, bank guaranties, surety bonds, performance bonds or similar instruments
with respect to such Indebtedness) incurred by the Borrower and/or any Restricted Subsidiary in respect of workers compensation
claims, unemployment insurance (including premiums related thereto), other types of social security, pension obligations, vacation
pay, health, disability or other employee benefits;

 

(u)          Indebtedness
of the Borrower and/or any Restricted Subsidiary representing (i) deferred compensation to current or former directors, officers,
employees, members of management, managers, and consultants of Holdings, Intermediate Holdings, the Borrower and/or any Restricted
Subsidiary in the ordinary course of business and (ii) deferred compensation or other similar arrangements in connection with
the Transactions, any Permitted Acquisition or any other Investment permitted hereby;

 

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(v)         Indebtedness
of the Borrower and/or any Restricted Subsidiary to the extent supported by any Letter of Credit (as defined in the ABL Credit
Agreement or any equivalent term under the ABL Facility);

 

(w)         Indebtedness
under Derivative Transactions that are not entered into for speculative purposes;

 

(x)          Capital
Lease obligations arising under any Sale and Lease-Back Transaction permitted under Section 6.07(x); provided, that
at the time of incurrence of any such Indebtedness and after giving pro forma effect thereto and the use of proceeds thereof, the
aggregate principal amount of Indebtedness then outstanding under this clause (x) shall not exceed $10,000,000; and

 

(y)          without
duplication of any other Indebtedness, all premiums (if any), interest (including post-petition interest and payment in kind interest),
accretion or amortization of original issue discount, fees, expenses and charges with respect to Indebtedness of the Borrower and/or
any Restricted Subsidiary permitted under this Section 6.01.

 

Section 6.02         Liens.
The Borrower shall not, nor shall it permit any of its Restricted Subsidiaries to, create, incur, assume or permit or suffer to
exist any Lien on or with respect to any property of any kind owned by it, whether now owned or hereafter acquired, or any income
or profits therefrom, except:

 

(a)          Liens
securing the Secured Obligations created pursuant to the Loan Documents;

 

(b)          Liens
for Taxes which are (i) not then due or (ii) if due, not then required to be paid pursuant to Section 5.03;

 

(c)          statutory
Liens (and rights of set-off) of landlords, banks, carriers, warehousemen, mechanics, repairmen, workmen and materialmen, and other
Liens imposed by applicable Requirements of Law, in each case incurred in the ordinary course of business (i) for amounts not yet
overdue by more than 30 days, (ii) for amounts that are overdue by more than 30 days and that are being contested in good faith
by appropriate proceedings, so long as any reserves or other appropriate provisions required by GAAP have been made for any such
contested amounts or (iii) with respect to which the failure to make payment would not reasonably be expected to have a Material
Adverse Effect;

 

(d)          Liens
incurred (i) in the ordinary course of business in connection with workers’ compensation, unemployment insurance and
other types of social security laws and regulations, (ii) in the ordinary course of business to secure the performance of
tenders, statutory obligations, surety, stay, customs and appeal bonds, bids, leases, government contracts, trade contracts, performance
and return-of-money bonds and other similar obligations (exclusive of obligations for the payment of borrowed money), (iii) pursuant
to pledges and deposits of Cash or Cash Equivalents in the ordinary course of business securing (x) any liability for reimbursement
or indemnification obligations of insurance carriers providing property, casualty, liability or other insurance to Holdings, Intermediate
Holdings, the Borrower and its subsidiaries or (y) leases or licenses of property otherwise permitted by this Agreement and
(iv) to secure obligations in respect of letters of credit, bank guaranties, surety bonds, performance bonds or similar instruments
posted with respect to the items described in clauses (i) through (iii) above;

 

    	 	113 	 

     

    

 

(e)          Liens
consisting of easements, rights-of-way, restrictions, encroachments, and other minor defects or irregularities in title, in each
case which do not, individually or in the aggregate, materially detract from the value of the property subject thereto or materially
interfere with the ordinary conduct of the business of the Borrower and its Restricted Subsidiaries, taken as a whole, or the use
of the affected property for its intended purpose;

 

(f)          Liens
consisting of any (i) interest or title of a lessor or sub-lessor under any lease of real estate permitted hereunder, (ii) landlord
lien permitted by the terms of any lease, (iii) restriction or encumbrance to which the interest or title of such lessor or
sub-lessor may be subject or (iv) subordination of the interest of the lessee or sub-lessee under such lease to any restriction
or encumbrance referred to in the preceding clause (iii);

 

(g)          Liens
solely on any Cash earnest money deposits made by the Borrower and/or any of its Restricted Subsidiaries in connection with any
letter of intent or purchase agreement with respect to any Investment permitted hereunder;

 

(h)          purported
Liens evidenced by the filing of UCC financing statements or similar filings relating solely to operating leases;

 

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

 

(j)          Liens
in connection with any zoning, building or similar Requirement of Law or right reserved to or vested in any Governmental Authority
to control or regulate the use of any or dimensions of real property or the structure thereon, including Liens in connection with
any condemnation or eminent domain proceeding or compulsory purchase order;

 

(k)          Liens
securing Indebtedness permitted pursuant to Section 6.01(m) (solely with respect to the permitted refinancing of (x) Indebtedness
permitted pursuant to Sections 6.01(a), (j), (k), and (s) and (y) Indebtedness that is secured
in reliance on Section 6.02(s) (without duplication of any amount outstanding thereunder, and which shall continue to constitute
utilization of the basket set forth therein)); provided that (i) no such Lien extends to any asset not covered by the Lien
securing the Indebtedness that is being refinanced and (ii) if the Lien securing the Indebtedness being refinanced was subject
to intercreditor arrangements, then (A) the Lien securing any refinancing Indebtedness in respect thereof shall be subject
to intercreditor arrangements that are not materially less favorable to the Secured Parties, taken as a whole, than the intercreditor
arrangements governing the Lien securing the Indebtedness that is refinanced or (B) the intercreditor arrangements governing
the Lien securing the relevant refinancing Indebtedness shall be set forth in an Acceptable Intercreditor Agreement;

 

(l)          Liens
described on Schedule 6.02 and any modification, replacement, refinancing, renewal or extension thereof; provided
that (i) no such Lien extends to any additional property other than (A) after-acquired property that is affixed or incorporated
into the property covered by such Lien and (B) proceeds and products thereof, accessions thereto and improvements thereon (it being
understood that individual financings of the type permitted under Section 6.01(j) provided by any lender may be cross-collateralized
to other financings of such type provided by such lender or its affiliates) and (ii) such modification, replacement, refinancing,
renewal or extension of the obligations secured or benefited by such Liens, if constituting Indebtedness, is permitted by Section
6.01;

 

    	 	114 	 

     

    

 

(m)          Liens
securing Indebtedness permitted pursuant to Section 6.01(j); provided that any such Lien shall encumber only the
asset acquired with the proceeds of such Indebtedness and proceeds and products thereof, accessions thereto and improvements thereon
(it being understood that individual financings of the type permitted under Section 6.01(j) provided by any lender may be
cross-collateralized to other financings of such type provided by such lender or its affiliates);

 

(n)          Liens
securing Indebtedness permitted pursuant to Section 6.01(k) on the relevant acquired assets or on the Capital Stock and assets
of the relevant newly acquired Restricted Subsidiary; provided that no such Lien (x) extends to or covers any other assets (other
than the proceeds or products thereof, accessions or additions thereto and improvements thereon) or (y) was created in contemplation
of the applicable acquisition of assets or Capital Stock;

 

(o)          (i)
Liens that are contractual rights of setoff or netting relating to (A) the establishment of depositary relations with banks not
granted in connection with the issuance of Indebtedness, (B) pooled deposit or sweep accounts of the Borrower and/or any Restricted
Subsidiary to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business of the Borrower
and/or any Restricted Subsidiary, (C) purchase orders and other agreements entered into with customers of the Borrower and/or any
Restricted Subsidiary in the ordinary course of business and (D) commodity trading or other brokerage accounts incurred in
the ordinary course of business, (ii) Liens encumbering reasonable customary initial deposits and margin deposits, (iii) bankers
Liens and rights and remedies as to Deposit Accounts and (iv) Liens on the proceeds of any Indebtedness incurred in connection
with any transaction permitted hereunder, which proceeds have been deposited into an escrow account on customary terms to secure
such Indebtedness pending the application of such proceeds to finance such transaction;

 

(p)          Liens
securing obligations (other than obligations representing Indebtedness for borrowed money) under operating, reciprocal easement
or similar agreements entered into in the ordinary course of business of the Borrower and/or its Restricted Subsidiaries;

 

(q)          Liens
on fixed or capital assets subject to any Sale and Lease-back Transaction permitted under Section 6.07(x); provided
that (i) such Liens secure only Indebtedness permitted by Section 6.01(x) and obligations relating thereto not constituting
Indebtedness and (ii) such Lien shall encumber only the asset acquired with the proceeds of such Indebtedness and proceeds and
products thereof, accessions thereto and improvements thereon (it being understood that individual financings of the type permitted
under Section 6.01(x) provided by any lender may be cross-collateralized to other financings of such type provided by such
lender or its affiliates);

 

(r)           Liens
securing Indebtedness incurred pursuant to Sections 6.01(r) and (s), in each case, subject to an Acceptable
Intercreditor Agreement;

 

(s)          other
Liens on assets securing Indebtedness or other obligations in an aggregate principal amount at any time outstanding not to exceed
$15,000,000;

 

(t)           Liens
on assets securing judgments, awards, attachments and/or decrees and notices of lis pendens and associated rights not constituting
an Event of Default under Section 7.01(h);

 

(u)          leases,
subleases, licenses or sublicenses granted to others in the ordinary course of business which do not secure any Indebtedness;

 

    	 	115 	 

     

    

 

(v)          Liens
on Securities that are the subject of repurchase agreements constituting Investments permitted under Section 6.06 arising
out of such repurchase transaction;

 

(w)          Liens
securing obligations in respect letters of credit, bank guaranties, surety bonds, performance bonds or similar instruments permitted
under Sections 6.01(d), (f), and (t);

 

(x)           Liens
arising (i) out of conditional sale, title retention, consignment or similar arrangements for the sale of any asset in the
ordinary course of business and permitted by this Agreement or (ii) by operation of law under Article 2 of the UCC (or similar
Requirements of Law of any jurisdiction);

 

(y)          Liens
(i) in favor of any Loan Party and/or (ii) granted by any non-Loan Party in favor of any Restricted Subsidiary that is
not a Loan Party, in the case of each of clauses (i) and (ii), securing intercompany Indebtedness permitted under
Section 6.01;

 

(z)          Liens
on insurance policies and the proceeds thereof securing the financing of the premiums with respect thereto;

 

(aa)         Liens
on specific items of inventory or other goods and the proceeds thereof securing the relevant Person’s obligations in respect
of documentary letters of credit or banker’s acceptances issued or created for the account of such Person to facilitate the
purchase, shipment or storage of such inventory or goods;

 

(bb)        [reserved];

 

(cc)         (i) Liens
on Capital Stock of joint ventures or Unrestricted Subsidiaries securing capital contributions to, or obligations of, such Persons
and (ii) customary rights of first refusal and tag, drag and similar rights in joint venture agreements and agreements with
respect to non-Wholly-Owned Subsidiaries;

 

(dd)        Liens
on cash, Cash Equivalents or other property arising in connection with the defeasance, discharge or redemption of Indebtedness;
and

 

(ee)         Liens
securing Indebtedness incurred in reliance on, and subject to the provisions set forth in, Section 6.01(q); provided,
that any Lien that is granted in reliance on this clause (ee) on the Collateral and is pari passu or junior to the Lien
securing the Secured Obligations shall be subject to an Acceptable Intercreditor Agreement.

 

Section 6.03         No
Further Negative Pledges; Burdensome Agreements. The Borrower shall not, nor shall it permit any of its Restricted Subsidiaries
to enter into any agreement prohibiting the creation or assumption of any Lien upon its properties, whether now owned or hereafter
acquired, for the benefit of the Secured Parties with respect to the Obligations, except with respect to:

 

(a)          specific
property to be sold pursuant to any Disposition permitted by Section 6.07;

 

(b)          restrictions
contained in any agreement with respect to Indebtedness permitted by Section 6.01 that is secured by a Permitted Lien, but
only if such restrictions apply only to the Person or Persons obligated under such Indebtedness and its or their Restricted Subsidiaries
or the property or assets securing such Indebtedness;

 

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(c)          restrictions
contained in the documentation governing Indebtedness permitted by clauses (j), (o), (q), (r), (s)
and/or (x) of Section 6.01 (and clause (m) of Section 6.01 to the extent relating to any refinancing,
refunding or replacement of Indebtedness incurred in reliance on clauses (a), (j), (o), (q), (r),
(s) and/or (x) of Section 6.01);

 

(d)          restrictions
by reason of customary provisions restricting assignments, subletting or other transfers (including the granting of any Lien) contained
in leases, subleases, licenses, sublicenses and other agreements entered into in the ordinary course of business (provided
that such restrictions are limited to the relevant leases, subleases, licenses, sublicenses or other agreements and/or the property
or assets secured by such Liens or the property or assets subject to such leases, subleases, licenses, sublicenses or other agreements,
as the case may be);

 

(e)          Permitted
Liens and restrictions in the agreements relating thereto that limit the right of the Borrower and/or any Restricted Subsidiary
to Dispose of, or encumber the assets subject to such Liens;

 

(f)          provisions
limiting the Disposition or distribution of assets or property in joint venture agreements, sale-leaseback agreements, stock sale
agreements and other similar agreements, which limitation is applicable only to the assets that are the subject of such agreements
(or the Persons the Capital Stock of which is the subject of such agreement);

 

(g)          any
encumbrance or restriction assumed in connection with an acquisition of the property or Capital Stock of any Person, so long as
such encumbrance or restriction relates solely to the property so acquired (or to the Person or Persons (and its or their subsidiaries)
bound thereby) and was not created in connection with or in anticipation of such acquisition;

 

(h)          restrictions
imposed by customary provisions in partnership agreements, limited liability company organizational governance documents, joint
venture agreements and other similar agreements that restrict the transfer of the assets of, or ownership interests in, the relevant
partnership, limited liability company, joint venture or any similar Person;

 

(i)            restrictions
on Cash or other deposits imposed by Persons under contracts entered into in the ordinary course of business or for whose benefit
such Cash or other deposits exist;

 

(j)            restrictions
set forth in documents which exist on the Closing Date;

 

(k)           restrictions
contained in documents governing Indebtedness permitted hereunder of any Restricted Subsidiary that is not a Loan Party;

 

(l)           restrictions
set forth in any Loan Document, any Hedge Agreement and/or any agreement relating to any Banking Service Obligation; and

 

(m)         other
restrictions or encumbrances imposed by any amendment, modification, restatement, renewal, increase, supplement, refunding, replacement
or refinancing of the contracts, instruments or obligations referred to in clauses (a) through (l) above; provided
that no such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing is, in
the good faith judgment of the Borrower, may be more restrictive with respect to such encumbrances and other restrictions, taken
as a whole, than those in effect prior to the relevant amendment, modification, restatement, renewal, increase, supplement, refunding,
replacement or refinancing.

 

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Section 6.04         Restricted
Payments; Restricted Debt Payments.

 

(a)          The
Borrower shall not pay or make, directly or indirectly, any Restricted Payment, except that:

 

(i)           the
Borrower may make Restricted Payments to the extent necessary to permit any Parent Company:

 

(A)         to
(i) pay general administrative and operating costs and expenses (including corporate overhead, legal or similar expenses and customary
salary, bonus and other benefits payable to officers, employees, members of management, managers, employees and/or consultants
of any Parent Company (and/or any Immediate Family Member of any of the foregoing)) and franchise fees, franchise Taxes and similar
fees, Taxes and expenses required to maintain the organizational existence of such Parent Company, in each case, which are reasonable
and customary and incurred in the ordinary course of business, to the extent attributable to the ownership or operations of Holdings
(but excluding, for the avoidance of doubt, the portion of any such amount, if any, that is attributable to the ownership or operations
of any subsidiary of Holdings other than Intermediate Holdings, Buyer, the Borrower and/or its subsidiaries), Intermediate Holdings,
Buyer, the Borrower and its subsidiaries; provided, that Restricted Payments made pursuant to this Section 6.04(a)(i)(A)(i)
shall not exceed $5,000,000 in any Fiscal Year, (ii) pay customary salary or fees payable to directors of any Parent Company (and/or
any Immediate Family Member of the foregoing), which is reasonable and customary and incurred in the ordinary course of business,
to the extent attributable to the ownership of Intermediate Holdings, Buyer, the Borrower and/or its subsidiaries, subject, in
the case of salary or fees in respect of directors appointed by, and representatives of, the Sponsor, to the aggregate cap set
forth in clause (a) of the definition of “Sponsor Fees”, (iii) pay any reasonable and customary indemnification claims
made by directors, officers, members of management, managers, employees or consultants of any Parent Company, in each case, to
the extent attributable to the ownership or operations of Holdings (but excluding, for the avoidance of doubt, the portion of
any such amount, if any, that is attributable to the ownership or operations of any subsidiary of Holdings other than Intermediate
Holdings, Buyer, the Borrower and/or its subsidiaries), Intermediate Holdings, Buyer, the Borrower and its subsidiaries; and (iv)
pay costs and expenses, including any public company costs, associated with the compliance by Holdings with the requirements and/or
regulations applicable to public companies, including, without limitation, the “Sarbanes-Oxley” legislation and related
regulatory rules and regulations promulgated thereunder;

 

(B)         to
pay Taxes due and payable by such Parent Company to any taxing authority and that are attributable to the income or operation of
Holdings, Intermediate Holdings, Buyer, the Borrower or its subsidiaries, including any consolidated, combined or similar income
tax liabilities attributable to taxable income of Holdings, Intermediate Holdings, Buyer, the Borrower and its subsidiaries; provided
that the amount permitted under this subclause (B) relating to Taxes that are attributable to the taxable income of Unrestricted
Subsidiaries in any period shall be limited to the amount of dividends and other distributions actually made by such Unrestricted
Subsidiaries to any Restricted Subsidiary for such purpose;

 

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(C)         to
pay audit and other accounting and reporting expenses of such Parent Company to the extent attributable to Holdings (but excluding,
for the avoidance of doubt, the portion of any such expenses, if any, attributable to the ownership or operations of any subsidiary
of Holdings other than Intermediate Holdings, Buyer, the Borrower and/or its subsidiaries), Intermediate Holdings, Buyer, the Borrower
and its subsidiaries;

 

(D)         for
the payment of insurance premiums to the extent attributable to Holdings (but excluding, for the avoidance of doubt, the portion
of any such premiums, if any, attributable to the ownership or operations of any subsidiary of Holdings other than Intermediate
Holdings, Buyer, the Borrower and/or its subsidiaries), Intermediate Holdings, Buyer, the Borrower and its subsidiaries; and

 

(E)         to
finance any Investment permitted under Section 6.06 (provided that (x) any Restricted Payment under this clause
(a)(i)(E) shall be made substantially concurrently with the closing of such Investment and (y) the relevant Parent Company
shall, promptly following the closing thereof, cause (I) all property acquired to be contributed to the Borrower or one or more
of its Restricted Subsidiaries, or (II) the merger, consolidation or amalgamation of the Person formed or acquired into the Borrower
or one or more of its Restricted Subsidiaries, in order to consummate such Investment in compliance with the applicable requirements
of Section 6.06 as if undertaken as a direct Investment by the Borrower or the relevant Restricted Subsidiary; provided
further, any property received by the Borrower or any Restricted Subsidiary in connection with such transaction shall only increase
the Available Amount to the extent the fair market value of such property (as determined in good faith by the board of directors
of the Borrower) exceeds the aggregate amount of Restricted Payments made pursuant to this clause (a)(i)(E);

 

(ii)          the
Borrower may (or may make Restricted Payments to allow any Parent Company to) repurchase, redeem or otherwise acquire or retire
for value the Capital Stock of any Parent Company or any subsidiary held by any future, present or former employee, director, member
of management, officer or consultant (or any Affiliate or Immediate Family Member thereof) of any Parent Company, the Borrower
or any Restricted Subsidiary of the Borrower:

 

(A)         with
Cash and Cash Equivalents (and including, to the extent constituting a Restricted Payment, amounts paid in respect of promissory
notes issued to evidence any obligation to repurchase, redeem, retire or otherwise acquire or retire for value the Capital Stock
of any Parent Company or any Restricted Subsidiary held by any future, present or former employee, director, member of management,
officer or consultant (or any Affiliate or Immediate Family Member thereof) of any Parent Company, the Borrower or any Subsidiary
of the Borrower); provided, that at the time any such Restricted Payment is made and after giving pro forma effect thereto,
the aggregate amount of Restricted Payments made as of such date pursuant to this Section 6.04(a)(ii)(A) shall not exceed $5,000,000
in the aggregate;

 

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(B)         with
the proceeds of any sale or issuance of the Capital Stock of the Borrower or any Parent Company (to the extent such proceeds are
contributed in respect of Qualified Capital Stock to the Borrower or any Restricted Subsidiary), but only to the extent such proceeds
have not otherwise been applied to increase the Available Amount or Available Excluded Contribution Amount, to make Restricted
Payments or Restricted Debt Payments hereunder; or

 

(C)         with
the net proceeds of any key-man life insurance policies;

 

(iii)         the
Borrower may make additional Restricted Payments in an amount not to exceed (A) the portion, if any, of the Available Amount on
such date that the Borrower elects to apply to this clause (iii)(A) and/or (B) the portion, if any, of the Available Excluded
Contribution Amount on such date that the Borrower elects to apply to this clause (iii)(B);

 

(iv)          the
Borrower may make Restricted Payments (i) to any Parent Company to enable such Parent Company to make Cash payments in lieu
of the issuance of fractional shares in connection with the exercise of warrants, options or other securities convertible into
or exchangeable for Capital Stock of such Parent Company and (ii) consisting of (A) payments made or expected to be made in
respect of withholding or similar Taxes payable by any future, present or former officers, directors, employees, members of management,
managers or consultants of the Borrower, any Restricted Subsidiary or any Parent Company or any of their respective Immediate Family
Members and/or (B) repurchases of Capital Stock in consideration of the payments described in sub-clause (A) above;

 

(v)           the
Borrower may make Restricted Payments to repurchase (or make Restricted Payments to any Parent Company to enable it to repurchase)
Capital Stock upon the exercise of warrants, options or other securities convertible into or exchangeable for Capital Stock if
such Capital Stock represents all or a portion of the exercise price of such warrants, options or other securities convertible
into or exchangeable for Capital Stock as part of a “cashless” exercise;

 

(vi)          the
Borrower may make Restricted Payments, the proceeds of which are applied on the Closing Date, solely to effect the consummation
of, the Transactions;

 

(vii)         to
the extent constituting a Restricted Payment, the Borrower may consummate any transaction permitted by Section 6.06 (other
than Sections 6.06(i) and (s)), Section 6.07 (other than Section 6.07(g)) and Section 6.08 (other
than Section 6.08(d));

 

(viii)        other
Restricted Payments; provided, that (x) no Event of Default has occurred and is continuing or would result therefrom and
(y) at the time any such Restricted Payment is made and after giving pro forma effect thereto, the aggregate amount of Restricted
Payments made as of such date pursuant to this Section 6.04(a)(viii) shall not exceed $5,000,000; and

 

(ix)           any
other Restricted Payment; provided that after giving effect to such Restricted Payment, (x) no Event of Default has occurred
and is continuing or would result therefrom and (y) on a Pro Forma Basis, the Total Leverage Ratio shall not exceed 2.75:1.00.

 

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(b)          The
Borrower shall not, nor shall the Borrower permit any Restricted Subsidiary to, make any payment in Cash on or in respect of principal
of or interest on any (x) Junior Lien Indebtedness and (y) Junior Indebtedness (the Indebtedness described in clauses (x)
and (y), the “Restricted Debt”), including any sinking fund or similar deposit, on account of the purchase,
redemption, retirement, acquisition, cancellation or termination of any Restricted Debt prior to the scheduled maturity (collectively,
“Restricted Debt Payments”), except:

 

(i)            any
purchase, defeasance, redemption, repurchase, repayment or other acquisition or retirement thereof made by exchange for, or out
of the proceeds of, Refinancing Indebtedness permitted to be incurred pursuant to Section 6.01(m);

 

(ii)           payments
of regularly scheduled interest and payments of fees, expenses and indemnification obligations as and when due (other than payments
with respect to Junior Indebtedness that are prohibited by the subordination provisions thereof);

 

(iii)           (A)
Restricted Debt Payments in exchange for, or with proceeds of any issuance of, Qualified Capital Stock of the Borrower and/or any
capital contribution in respect of Qualified Capital Stock of the Borrower, but only to the extent such proceeds have not otherwise
been applied to increase the Available Amount or Available Excluded Contribution Amount, to make Restricted Payments or Restricted
Debt Payments hereunder, (B) Restricted Debt Payments as a result of the conversion of all or any portion of any Restricted Debt
into Qualified Capital Stock of the Borrower or any Parent Company and (C) to the extent constituting a Restricted Debt Payment,
payment-in-kind interest with respect to any Restricted Debt that is permitted under Section 6.01;

 

(iv)           Restricted
Debt Payments in an aggregate amount not to exceed (A) the portion, if any, of the Available Amount on such date that the
Borrower elects to apply to this clause (iv)(A) and (B) the portion, if any, of the Available Excluded Contribution Amount
on such date that the Borrower elects to apply to this clause (iv)(B);

 

(v)            customary
AHYDO Payments;

 

(vi)           other
Restricted Debt Payments; provided, that (x) no Event of Default has occurred and is continuing or would result therefrom
and (y) at the time any such Restricted Debt Payment is made and after giving pro forma effect thereto, the aggregate amount of
Restricted Debt Payments made as of such date pursuant to this Section 6.04(b)(vi) shall not exceed $5,000,000; and

 

(vii)         any
other Restricted Debt Payments; provided that (x) no Event of Default has occurred and is continuing or would result therefrom
and (y) on a Pro Forma Basis, the Total Leverage Ratio shall not exceed 2.75:1.00.

 

Section 6.05         Restrictions
on Subsidiary Distributions. Except as provided herein or in any other Loan Document, the ABL Facility, any document with respect
to any Incremental Equivalent Debt, and/or in agreements with respect to refinancings, renewals or replacements of such Indebtedness
that are permitted by Section 6.01, the Borrower shall not, nor shall it permit any of its Restricted Subsidiaries to, enter
into or cause to exist any agreement restricting the payment of dividends or other distributions or the making of cash loans or
advances by any Restricted Subsidiary to any Loan Party, except restrictions:

 

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(a)          set
forth in any agreement evidencing (i) Indebtedness of a Restricted Subsidiary that is not a Loan Party permitted by Section
6.01, (ii) Indebtedness permitted by Section 6.01 that is secured by a Permitted Lien if the relevant restriction
applies only to the Person obligated under such Indebtedness and its Restricted Subsidiaries or the property or assets intended
to secure such Indebtedness and (iii) Indebtedness permitted pursuant to clauses (j), (m) (as it relates to
Indebtedness in respect of clauses (a), (j), (o), (p), (q), (s) and/or (x) of
Section 6.01), (o), (q), (s) and/or (x) of Section 6.01;

 

(b)          arising
under customary provisions restricting assignments, subletting or other transfers (including the granting of any Lien) contained
in leases, subleases, licenses, sublicenses, joint venture agreements and similar agreements entered into in the ordinary course
of business;

 

(c)          that
are or were created by virtue of any Lien granted upon, transfer of, agreement to transfer or grant of, any option or right with
respect to any assets or Capital Stock not otherwise prohibited under this Agreement;

 

(d)          that
are assumed in connection with any acquisition of property or the Capital Stock of any Person, so long as the relevant encumbrance
or restriction relates solely to the Person and its subsidiaries (including the Capital Stock of the relevant Person or Persons)
and/or property so acquired and was not created in connection with or in anticipation of such acquisition;

 

(e)          set
forth in any agreement for any Disposition of any Restricted Subsidiary (or all or substantially all of the property and/or assets
thereof) that restricts the payment of dividends or other distributions or the making of cash loans or advances by such Restricted
Subsidiary pending such Disposition;

 

(f)           set
forth in provisions in agreements or instruments which prohibit the payment of dividends or the making of other distributions with
respect to any class of Capital Stock of a Person other than on a pro rata basis;

 

(g)          imposed
by customary provisions in partnership agreements, limited liability company organizational governance documents, joint venture
agreements and other similar agreements;

 

(h)          on
Cash, other deposits or net worth or similar restrictions imposed by any Person under any contract entered into in the ordinary
course of business or for whose benefit such Cash, other deposits or net worth or similar restrictions exist;

 

(i)           set
forth in documents which exist on the Closing Date;

 

(j)           arising
pursuant to an agreement or instrument relating to any Indebtedness permitted to be incurred after the Closing Date if such restrictions,
taken as a whole, are not materially less favorable to the Lenders than the restrictions contained in this Agreement, taken as
a whole (as determined in good faith by the Borrower);

 

(k)          arising
under or as a result of applicable Requirements of Law or the terms of any license, authorization, concession or permit;

 

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(l)           arising
in any Hedge Agreement and/or any agreement relating to any Banking Services Obligation and/or Banking Services Obligation (as
defined in the ABL Credit Agreement (or any equivalent term under the ABL Facility));

 

(m)          relating
to any asset (or all of the assets) of and/or the Capital Stock of the Borrower and/or any Restricted Subsidiary which is imposed
pursuant to an agreement entered into in connection with any Disposition of such asset (or assets) and/or all or a portion of the
Capital Stock of the relevant Person that is permitted or not restricted by this Agreement;

 

(n)          set
forth in any agreement relating to any Permitted Lien that limits the right of the Borrower or any Restricted Subsidiary to Dispose
of or encumber the assets subject thereto; and/or

 

(o)          imposed
by any amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing of any contract,
instrument or obligation referred to in clauses (a) through (n) above; provided that such amendment, modification,
restatement, renewal, increase, supplement, refunding, replacement or refinancing is, in the good faith judgment of the Borrower,
no more restrictive with respect to such restrictions, taken as a whole, than those in existence prior to such amendment, modification,
restatement, renewal, increase, supplement, refunding, replacement or refinancing.

 

Section 6.06         Investments.
The Borrower shall not, nor shall the Borrower permit any Restricted Subsidiary to, make or own any Investment in any other Person
except:

 

(a)          Cash
or Investments that were Cash Equivalents at the time made;

 

(b)          (i) Investments
existing on the Closing Date in the Borrower or in any subsidiary, (ii) Investments made after the Closing Date among the
Borrower and/or one or more Restricted Subsidiaries that are Loan Parties, (iii) Investments made after the Closing Date by any
Loan Party in Holdings, Intermediate Holdings and/or any Restricted Subsidiary that is not a Loan Party, together with Permitted
Acquisitions to the extent permitted by clause (b)(i) of the definition thereof and Investments made in reliance on Section
6.06(p), in an aggregate outstanding amount not to exceed the Non-Loan Party Investment Cap, (iv) Investments made by any Restricted
Subsidiary that is not a Loan Party in any Loan Party and/or any other Restricted Subsidiary that is not a Loan Party and (v) Investments
made by any Loan Party and/or any Restricted Subsidiary that is not a Loan Party in the form of any contribution or Disposition
of the Capital Stock of any Person that is not a Loan Party;

 

(c)          Investments
(i) constituting deposits, prepayments and/or other credits to suppliers, (ii) made in connection with obtaining, maintaining
or renewing client and customer contracts and/or (iii) in the form of advances made to distributors, suppliers, licensors
and licensees, in each case, in the ordinary course of business or to the extent necessary to maintain the ordinary course of supplies
to the Borrower or any Restricted Subsidiary;

 

(d)          (i)
Permitted Acquisitions and (ii) any Investment in any Restricted Subsidiary that is not a Loan Party in an amount required to permit
such Restricted Subsidiary to consummate a Permitted Acquisition (in compliance, if applicable, with any cap on Investments in
non-Loan Parties that is set forth in the relevant carve-out from this Section 6.06), which amount is actually applied by such
Restricted Subsidiary to consummate such Permitted Acquisition;

 

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(e)          Investments
(i) existing on, or contractually committed to as of, the Closing Date and described on Schedule 6.06 and (ii) any modification,
replacement, renewal or extension of any Investment described in clause (i) above so long as no such modification, renewal
or extension thereof increases the amount of such Investment except by the terms thereof or as otherwise permitted by this Section
6.06;

 

(f)          Investments
received in lieu of Cash in connection with any Disposition permitted by Section 6.07;

 

(g)          loans
or advances to present or former employees, directors, members of management, officers, managers or consultants or independent
contractors (or their respective Immediate Family Members) of any Parent Company, the Borrower, its subsidiaries and/or any joint
venture to the extent permitted by Requirements of Law, in connection with such Person’s purchase of Capital Stock of any
Parent Company, either (i) in an aggregate principal amount not to exceed at any one time outstanding the greater of $5,000,000
and 6% of Consolidated Adjusted EBITDA for the most recently ended Test Period or (ii) so long as the proceeds of such loan
or advance are substantially contemporaneously contributed to the Borrower for the purchase of Capital Stock;

 

(h)          Investments
consisting of extensions of credit in the nature of accounts receivable or notes receivable arising from the grant of trade credit
in the ordinary course of business;

 

(i)           Investments
consisting of (or resulting from) Indebtedness permitted under Section 6.01 (other than Indebtedness permitted under Sections
6.01(b) and (g)), Permitted Liens, Restricted Payments permitted under Section 6.04 (other than Section 6.04(a)(vii)),
Restricted Debt Payments permitted by Section 6.04 and mergers, consolidations, amalgamations, liquidations, windings up,
dissolutions or Dispositions permitted by Section 6.07 (other than Section 6.07(a) (if made in reliance on sub-clause
(ii)(y) of the proviso thereto), Section 6.07(b) (if made in reliance on clause (ii) therein), Section 6.07(c)(ii)
(if made in reliance on clause (B) therein) and Section 6.07(g));

 

(j)          Investments
in the ordinary course of business consisting of endorsements for collection or deposit and customary trade arrangements with customers;

 

(k)          Investments
(including debt obligations and Capital Stock) received (i) in connection with the bankruptcy, restructuring or reorganization
of any Person, (ii) in settlement of delinquent obligations of, or other disputes with, customers, suppliers and other account
debtors arising in the ordinary course of business, (iii) upon foreclosure with respect to any secured Investment or other
transfer of title with respect to any secured Investment and/or (iv) as a result of the settlement, compromise, resolution
of litigation, arbitration or other disputes;

 

(l)          loans
and advances of (x) payroll payments or other compensation and (y) moving, entertainment and travel expenses, drawing
accounts and similar expenditures, in each case under this clause (l) to present or former employees, directors, members
of management, officers, managers or consultants of any Parent Company (to the extent such payments or other compensation relate
to services provided to such Parent Company (but excluding, for the avoidance of doubt, the portion of any such amount, if any,
attributable to the ownership or operations of any subsidiary of any Parent Company other than the Borrower and/or its subsidiaries)),
the Borrower and/or any subsidiary of the Borrower in the ordinary course of business;

 

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(m)          Investments
to the extent that payment therefor is made solely with Capital Stock of any Parent Company or Qualified Capital Stock of the Borrower
or any Restricted Subsidiary, in each case, to the extent not resulting in a Change of Control;

 

(n)          (i) Investments
of any Restricted Subsidiary acquired after the Closing Date, or of any Person acquired by, or merged into or consolidated or amalgamated
with, the Borrower or any Restricted Subsidiary after the Closing Date, in each case as part of an Investment otherwise permitted
by this Section 6.06 to the extent that such Investments were not made in contemplation of or in connection with such acquisition,
merger, amalgamation or consolidation and were in existence on the date of the relevant acquisition, merger, amalgamation or consolidation
and (ii) any modification, replacement, renewal or extension of any Investment permitted under clause (i) of this Section
6.06(n) so long as no such modification, replacement, renewal or extension thereof increases the amount of such Investment
except as otherwise permitted by this Section 6.06;

 

(o)          Investments
made in connection with the Transactions;

 

(p)          Investments
made after the Closing Date by the Borrower and/or any of its Restricted Subsidiaries in an aggregate amount at any time outstanding
not to exceed, together with Investments made in reliance on Section 6.06(b)(iii) and Permitted Acquisitions to the extent
permitted by clause (b)(i) of the definition thereof, the greater of $20,000,000 and 25% of Consolidated Adjusted EBITDA
for the most recently ended Test Period;

 

(q)          Investments
made after the Closing Date by the Borrower and/or any of its Restricted Subsidiaries in an aggregate outstanding amount not to
exceed (i) the portion, if any, of the Available Amount on such date that the Borrower elects to apply to this clause (q)(i)
and/or (ii) the portion, if any, of the Available Excluded Contribution Amount on such date that the Borrower elects to apply
to this clause (q)(ii);

 

(r)          to
the extent not constituting Indebtedness, (i) Guarantees of leases (other than Capital Leases) or of other obligations and
(ii) Guarantees of the lease obligations of suppliers, customers, franchisees and licensees of the Borrower and/or its Restricted
Subsidiaries, in each case, in the ordinary course of business;

 

(s)          Investments
in any Parent Company in amounts and for purposes for which Restricted Payments to such Parent Company are permitted under Section
6.04(a); provided that any Investment made as provided above in lieu of any such Restricted Payment shall reduce availability
under the applicable Restricted Payment basket under Section 6.04(a);

 

(t)          Investments
under any Derivative Transaction of the type permitted under Section 6.01(y);

 

(u)          Investments
(i) in joint ventures and Unrestricted Subsidiaries or (ii) in any Restricted Subsidiary to enable such Restricted Subsidiary
to make Investments in joint ventures and Unrestricted Subsidiaries or (iii) in joint ventures or non-Wholly-Owned Subsidiaries
as required by, or made pursuant to, customary buy/sell arrangements between the joint venture parties set forth in joint venture
agreements and similar binding arrangements entered into in the ordinary course of business, in the case of this clause (u),
in an aggregate outstanding amount not to exceed $5,000,000;

 

(v)          [reserved];

 

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(w)         unfunded
pension fund and other employee benefit plan obligations and liabilities to the extent that the same are permitted to remain unfunded
under applicable Requirements of Law;

 

(x)           Investments
in Holdings, Intermediate Holdings, the Borrower, any subsidiary and/or any joint venture in connection with intercompany cash
management arrangements and related activities in the ordinary course of business; and

 

(y)          any
other Investments; provided that after giving effect to such Investment, (x) no Event of Default has occurred and is continuing
or would result therefrom and (y) on a Pro Forma Basis, the Total Leverage Ratio shall not exceed 2.75:1.00.

 

Section 6.07         Fundamental
Changes; Disposition of Assets. The Borrower shall not, nor shall the Borrower permit any of its Restricted Subsidiaries to,
enter into any transaction of merger, consolidation or amalgamation or liquidate, wind up or dissolve themselves (or suffer any
liquidation or dissolution), or make any Disposition of any assets having a fair market value in excess of $2,500,000, in a single
transaction or in a series of related transactions, except:

 

(a)          any
Restricted Subsidiary may be merged, consolidated or amalgamated with or into the Borrower or another Restricted Subsidiary; provided
that (i) in the case of any such merger, consolidation or amalgamation with or into the Borrower, (A) the Borrower shall be
the continuing or surviving Person or (B) if the Person formed by or surviving any such merger, consolidation or amalgamation is
not the Borrower (any such Person, the “Successor Borrower”), (w) the Successor Borrower shall provide the documentation
and other information reasonably requested in writing by the Lenders that they reasonably determine is required by regulatory authorities
under applicable “know your customer” and anti-money-laundering rules and regulations, including the PATRIOT Act, and
including, with respect to any Successor Borrower that qualifies as a “legal entity customer” under the Beneficial
Ownership Regulation, a Beneficial Ownership Certification in relation to such Borrower, in each case at least three Business Days
prior to the effectiveness of such merger, consolidation or amalgamation (or such shorter period as the Administrative Agent shall
otherwise agree), (x) the Successor Borrower shall be an entity organized or existing under the laws of the U.S., any state
thereof or the District of Columbia, (y) the Successor Borrower shall expressly assume the Obligations of the Borrower in
a manner reasonably satisfactory to the Administrative Agent and (z) except as the Administrative Agent may otherwise agree, each
Guarantor, unless it is the other party to such merger, consolidation or amalgamation, shall have executed and delivered a reaffirmation
agreement with respect to its obligations under the Loan Guaranty and the other Loan Documents; it being understood that if the
foregoing conditions under clauses (w) through (z) are satisfied, the Successor Borrower will succeed to, and be
substituted for, the Borrower under this Agreement and the other Loan Documents, and (ii) in the case of any such merger,
consolidation or amalgamation with or into any Subsidiary Guarantor or sale of assets by any Subsidiary Guarantor, either (x) such
Subsidiary Guarantor shall be the continuing or surviving Person or the continuing or surviving Person shall expressly assume the
obligations of the Subsidiary Guarantor in a manner reasonably satisfactory to the Administrative Agent or (y) the relevant
transaction shall be treated as an Investment and shall comply with Section 6.06;

 

(b)          Dispositions
(including of Capital Stock) among the Borrower and/or any Restricted Subsidiary (upon voluntary liquidation or otherwise); provided
that any such Disposition made by any Loan Party to a Person that is not a Loan Party shall be (i) for fair market value (as
reasonably determined by such Person) with at least 75% of the consideration for such Disposition consisting of Cash or Cash Equivalents
at the time of such Disposition or (ii) treated as an Investment and otherwise made in compliance with Section 6.06
(other than in reliance on clause (j) thereof);

 

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(c)          (i) the
liquidation or dissolution of any Restricted Subsidiary if the Borrower reasonably determines in good faith that such liquidation,
dissolution is in the best interests of the Borrower, is not materially disadvantageous to the Lenders and the Borrower or any
Restricted Subsidiary receives any assets of the relevant dissolved or liquidated Restricted Subsidiary; provided that in
the case of any liquidation or dissolution of any Loan Party that results in a distribution of assets to any Restricted Subsidiary
that is not a Loan Party, such distribution shall be treated as an Investment and shall comply with Section 6.06 (other
than in reliance on clause (j) thereof); (ii) any merger, amalgamation, dissolution, liquidation or consolidation,
the purpose of which is to effect (A) any Disposition otherwise permitted under this Section 6.07 (other than clause
(a), clause (b) or this clause (c)) or (B) any Investment permitted under Section 6.06 (other than in
reliance on clause (ii) thereof); and (iii) the conversion of the Borrower or any Restricted Subsidiary into another
form of entity so long as such conversion does not adversely affect the value of the Loan Guaranty or Collateral, if any;

 

(d)          the
leasing or subleasing of real property in the ordinary course of business;

 

(e)          Dispositions
in the ordinary course of business of surplus, obsolete, used or worn out property or other property that, in the reasonable judgment
of the Borrower, is (i) no longer used or useful in its business (or in the business of any Restricted Subsidiary) or (ii) otherwise
economically impracticable to maintain;

 

(f)          Dispositions
of Cash and/or Cash Equivalents and/or other assets that were Cash Equivalents when the relevant original Investment was made;

 

(g)          Dispositions,
mergers, amalgamations, consolidations or conveyances that constitute Investments permitted pursuant to Section 6.06 (other
than Section 6.06(i), Permitted Liens and Restricted Payments permitted by Section 6.04(a) (other than Section
6.04(a)(vii));

 

(h)          Dispositions
for fair market value (as determined in good faith by the Borrower); provided that with respect to any such Disposition
with a purchase price in excess of the greater of $10,000,000 and 12.5% of Consolidated Adjusted EBITDA for the most recently ended
Test Period, at least 75% of the consideration for such Disposition shall consist of Cash or Cash Equivalents (provided
that for purposes of the 75% Cash consideration requirement, (x) the amount of any Indebtedness or other liabilities (other than
Indebtedness or other liabilities that are subordinated to the Obligations or that are owed to the Borrower or any Restricted Subsidiary)
of the Borrower and any Restricted Subsidiary (as shown on such Person’s most recent balance sheet or statement of financial
position (or in the notes thereto)) that are assumed by the transferee of any such assets and for which the Borrower and/or its
applicable Restricted Subsidiary have been validly released by all relevant creditors in writing, (y) any Securities received
by the Borrower or any Restricted Subsidiary from such transferee that are converted by such Person into Cash or Cash Equivalents
(to the extent of the Cash or Cash Equivalents received) within 180 days following the closing of the applicable Disposition and
(z) any Designated Non-Cash Consideration received in respect of such Disposition having an aggregate fair market value, taken
together with all other Designated Non-Cash Consideration received pursuant to this clause (z) that is at that time outstanding
not in excess of the greater of $20,000,000 and 25.0% of Consolidated Adjusted EBITDA for the most recently ended Test Period shall
be deemed to be Cash); provided, further, that (x) immediately prior to and after giving effect to such Disposition,
as determined on the date on which the agreement governing such Disposition is executed, no Event of Default exists and (y) the
Net Proceeds of such Disposition shall be applied and/or reinvested as (and to the extent) required by Section 2.08(b)(ii);

 

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(i)          to
the extent that (i) the relevant property is exchanged for credit against the purchase price of similar replacement property
or (ii) the proceeds of the relevant Disposition are promptly applied to the purchase price of such replacement property;

 

(j)           Dispositions
of Investments in joint ventures or any subsidiary that is not a Wholly-Owned Subsidiary to the extent required by, or made pursuant
to, buy/sell arrangements between joint venture or similar parties set forth in the relevant joint venture arrangements and/or
similar binding arrangements;

 

(k)          Dispositions
of accounts receivable in the ordinary course of business (including any discounting or forgiveness thereof) or in connection with
the collection or compromise thereof;

 

(l)           Dispositions
and/or terminations of leases, subleases, licenses or sublicenses (including the provision of software under any open source license),
which do not materially interfere with the business of the Borrower and its Restricted Subsidiaries;

 

(m)          (i) any
termination of any lease in the ordinary course of business, (ii) any expiration of any option agreement in respect of real
or personal property and (iii) any surrender or waiver of contractual rights or the settlement, release or surrender of contractual
rights or litigation claims (including in tort);

 

(n)          Dispositions
of property subject to foreclosure, casualty, eminent domain or condemnation proceedings (including in lieu thereof or any similar
proceeding);

 

(o)          [reserved];

 

(p)          exchanges
or swaps, including transactions covered by Section 1031 of the Code (or any comparable provision of any foreign jurisdiction),
of assets so long as any such exchange or swap is made for fair value (as reasonably determined by the Borrower) for like assets;
provided that upon the consummation of any such exchange or swap by any Loan Party, to the extent the assets received do
not constitute an Excluded Asset, the Administrative Agent has a perfected Lien with the same priority as the Lien held on the
Real Estate Assets so exchanged or swapped;

 

(q)          other
Dispositions; provided that the aggregate for fair market value (as determined in good faith by the Borrower) of all assets
subject to such Dispositions since the Closing Date shall not exceed $10,000,000;

 

(r)           (i) non-exclusive
licensing arrangements involving any IP Rights of the Borrower or any Restricted Subsidiary in the ordinary course of business
and (ii) Dispositions, abandonments, cancellations or lapses of IP Rights, or issuances or registrations, or applications
for issuances or registrations, of IP Rights, in the ordinary course of business, which, in the reasonable good faith determination
of the Borrower, are no longer used, useful or economical to maintain in light of its use;

 

(s)          terminations
or unwinds of Derivative Transactions;

 

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(t)           Dispositions
of Capital Stock of, or sales of Indebtedness or other Securities of, Unrestricted Subsidiaries;

 

(u)          any
merger, consolidation, Disposition or conveyance the sole purpose of which is to reincorporate or reorganize (i) any Domestic
Subsidiary in another jurisdiction in the U.S. and/or (ii) any Foreign Subsidiary in the U.S. or any other jurisdiction;

 

(v)          Dispositions
contemplated on the Closing Date and described on Schedule 6.07(v);

 

(w)         Dispositions
of letters of credit and/or bank guarantees (and/or the rights thereunder) to banks or other financial institutions in the ordinary
course of business in exchange for Cash and/or Cash Equivalents; and

 

(x)           Sale
and Lease-Back Transactions so long as the aggregate fair market value (as determined in good faith by the Borrower) of the assets
sold subject to all Sale and Lease-Back Transactions under this clause (x) shall not exceed $10,000,000; provided,
that the Net Proceeds of such Sale and Lease-Back Transaction shall be applied pursuant to Section 2.08(b)(ii) (it being
understood that any Net Proceeds so received shall not be permitted to be reinvested).

 

To the extent any Collateral
is Disposed of as expressly permitted by this Section 6.07 to any Person other than a Loan Party, such Collateral shall
automatically be sold free and clear of the Liens created by the Loan Documents, and the Administrative Agent shall be authorized
to take, and shall take, any actions deemed appropriate in order to effect the foregoing. Notwithstanding anything herein to the
contrary, the Borrower shall not itself enter into any division or allocation of assets to a series of limited liability companies
under any applicable law.

 

Section 6.08         Transactions
with Affiliates. The Borrower shall not, nor shall it permit any of its Restricted Subsidiaries to, enter into any transaction
(including the purchase, sale, lease or exchange of any property or the rendering of any service) involving payment in excess of
$5,000,000 with any of their respective Affiliates on terms that are less favorable to the Borrower or such Restricted Subsidiary,
as the case may be (as reasonably determined by the Borrower), than those that might be obtained at the time in a comparable arm’s-length
transaction from a Person who is not an Affiliate; provided that the foregoing restriction shall not apply to:

 

(a)          any
transaction between or among the Borrower and/or one or more Restricted Subsidiaries (or any entity that becomes a Restricted Subsidiary
as a result of such transaction) to the extent permitted or not restricted by this Agreement;

 

(b)          any
issuance, sale or grant of securities or other payments, awards or grants in cash, securities or otherwise pursuant to, or the
funding of employment arrangements, stock options and stock ownership plans approved by the board of directors (or equivalent governing
body) of any Parent Company or of the Borrower or any Restricted Subsidiary;

 

(c)          (i) any
collective bargaining agreement, employment agreement, severance agreement or compensatory (including profit sharing) arrangement
entered into by the Borrower or any of its Restricted Subsidiaries with their respective current or former officers, directors,
members of management, managers, employees, consultants or independent contractors or those of any Parent Company, (ii) any
subscription agreement or similar agreement pertaining to the repurchase of Capital Stock pursuant to put/call rights or similar
rights with current or former officers, directors, members of management, managers, employees, consultants or independent contractors
and (iii) transactions pursuant to any employee compensation, benefit plan, stock option plan or arrangement, any health,
disability or similar insurance plan which covers current or former officers, directors, members of management, managers, employees,
consultants or independent contractors or any employment contract or arrangement;

 

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(d)          (i) transactions
permitted by Sections 6.01(c), (l) and (u), 6.04 and 6.06(g), (l), (n), (p)
and (u) (to the extent the relevant transaction is an Investment of the type described in Section 6.06(g)), (s),
(u), (v), (w) and (x) and (ii) issuances of Capital Stock and issuances or incurrences of Indebtedness
not restricted by this Agreement;

 

(e)          transactions
in existence on the Closing Date and described on Schedule 6.08 and any amendment, modification or extension thereof to
the extent such amendment, modification or extension, taken as a whole, is not adverse to the Lenders in any material respect;

 

(f)           the
payment of all indemnification obligations and expenses owed to any Management Investor and any of their respective directors,
officers, members of management, managers, employees and consultants whether currently due or paid in respect of accruals from
prior periods;

 

(g)          the
Transactions, including the payment of Transaction Costs and other payments required under the Acquisition Agreement;

 

(h)          Guarantees
permitted by Section 6.01 or Section 6.06;

 

(i)           the
payment of customary fees (other than Sponsor Fees) and reasonable out-of-pocket costs to, and indemnities provided on behalf of,
former and current members of the board of directors (or similar governing body), officers, employees, members of management, managers,
consultants and independent contractors of Holdings, Intermediate Holdings, Buyer, the Borrower and/or any of its Restricted Subsidiaries,
and in the case of payments to such Person in such capacity on behalf of any Parent Company, to the extent attributable to the
operations of Holdings, Intermediate Holdings, Buyer, the Borrower or its subsidiaries;

 

(j)           transactions
with customers, clients, suppliers, joint ventures, purchasers or sellers of goods or services or providers of employees or other
labor entered into in the ordinary course of business, which are (i) fair to the Borrower and/or its applicable Restricted Subsidiaries
in the good faith determination of the board of directors (or similar governing body) of the Borrower or the senior management
thereof or (ii) on terms at least as favorable to the Borrower and/or its applicable Restricted Subsidiary as might reasonably
be obtained from a Person other than an Affiliate;

 

(k)          the
payment of reasonable out-of-pocket costs and expenses related to registration rights and customary indemnities provided to shareholders
under any shareholder agreement;

 

(l)           any
purchase by Holdings or Intermediate Holdings of the Capital Stock of (or contribution to the equity capital of) the Borrower;

 

(m)          any
transaction in respect of which the Borrower delivers to the Administrative Agent a letter addressed to the board of directors
(or equivalent governing body) of the Borrower from an accounting, appraisal or investment banking firm of nationally recognized
standing stating that such transaction is on terms that are no less favorable to the Borrower or the applicable Restricted Subsidiary
than might be obtained at the time in a comparable arm’s length transaction from a Person who is not an Affiliate; and

 

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(n)          any
issuance, sale or grant of Qualified Capital Stock or other payments, awards or grants in Cash, Qualified Capital Stock or otherwise
pursuant to, or the funding of employment arrangements, stock options and stock ownership plans approved by a majority of the members
of the board of directors (or similar governing body) or a majority of the disinterested members of the board of directors (or
similar governing body) of the Borrower or the applicable Restricted Subsidiary in good faith; and

 

(o)          payments
of Sponsor Fees; provided that if an Event of Default under Section 7.01(a) or, with respect to the Borrower, Section
7.01(g), has occurred and is continuing, any Sponsor Fee payable in Cash or Cash Equivalents thereunder shall accrue but shall
not be paid until such Event of Default is cured or waived.

 

Section 6.09         Amendments
or Waivers of Organizational Documents. The Borrower shall not, nor shall it permit any Subsidiary Guarantor to, amend or modify
their respective Organizational Documents, in each case in a manner that is materially adverse to the Lenders (in their capacities
as such) without obtaining the prior written consent of the Administrative Agent.

 

Section 6.10         Amendments
of or Waivers with Respect to Restricted Debt. The Borrower shall not, nor shall it permit any of its Restricted Subsidiaries
to, amend or otherwise modify the terms of any Restricted Debt (or the documentation governing any Restricted Debt) (a) if the
effect of such amendment or modification, together with all other amendments or modifications made, is materially adverse to the
interests of the Lenders (in their capacities as such) or (b) in violation of any intercreditor agreement related to such
debt entered into with the Administrative Agent or the subordination terms set forth in the definitive documentation governing
any Restricted Debt.

 

Section 6.11         Permitted
Activities of Holdings and Intermediate Holdings. Neither Holdings, Intermediate Holdings nor Buyer shall:

 

(a)          incur
any Indebtedness for borrowed money other than the Secured Obligations and other Guarantees of Indebtedness or other obligations
of the Borrower and/or any Restricted Subsidiary that are otherwise permitted hereunder;

 

(b)          create
or suffer to exist any Lien on any asset now owned or hereafter acquired by it other than (i) the Liens created under the
Collateral Documents and, subject to an Acceptable Intercreditor Agreement, the collateral documents related to the ABL Facility,
to which it is a party, (ii) any other Lien created in connection with the Transactions, (iii) Permitted Liens on the
Collateral that are secured on a pari passu or junior basis with the Secured Obligations, so long as such Permitted Liens secure
Guarantees permitted under clause (a) above and the underlying Indebtedness subject to such Guarantee is permitted to be
secured on the same basis pursuant to Section 6.02 and (iv) Liens of the type permitted under Section 6.02 (other
than in respect of debt for borrowed money);

 

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(c)          engage
in any business activity or own any material assets other than (i) holding the Capital Stock of any of its direct or indirect
subsidiaries; (ii) performing its obligations under the Loan Documents, the ABL Facility, other Indebtedness, Liens (including
the granting of Liens) and Guarantees permitted hereunder; (iii) any grants, issuances, repurchases or withholdings by Holdings
of its own Capital Stock (including, the making of any dividend or distribution on account of, or any redemption, retirement, sinking
fund or similar payment, purchase or other acquisition for value of, any shares of any class of Capital Stock), stock options,
stock appreciation rights, restricted stock, restricted stock units, other stock-based awards and performance awards pursuant to
any equity incentive plans of Holdings; (iv) filing Tax reports and paying Taxes and other customary obligations in the ordinary
course (and contesting any Taxes); (v) preparing reports to Governmental Authorities and to its shareholders; (vi) holding
director and shareholder meetings, preparing organizational records and other organizational activities required to maintain its
separate organizational structure or to comply with applicable Requirements of Law; (vii) effecting any public offering of
its Capital Stock and/or any transaction in connection therewith; (viii) holding Cash, Cash Equivalents and other assets received
in connection with Restricted Payments received from, or Investments made by, the Borrower and/or any Restricted Subsidiary or
any of their direct or indirect subsidiaries or contributions to the capital of, or proceeds from the issuance of, Capital Stock
of Holdings, in each case, pending the application thereof; (ix) providing indemnification and expense reimbursement for its
officers, directors, members of management, managers, employees and advisors or consultants; (x) participating in tax, accounting
and other administrative matters; (xi) making payments of the type permitted under Section 6.08(f) and the performance of
its obligations under the Acquisition Agreement and any other document, agreement and/or Investment contemplated by the Transactions
and other transactions expressly contemplated under this Agreement; (xii) complying with applicable Requirements of Law (including
with respect to the maintenance of its existence); (xiii) performance of rights and obligations under any Sponsor Management Agreement
to which it is a party; and (xiv) activities incidental to any of the foregoing or effecting any transaction permitted under this
Agreement, including, without limitation, the Transactions; and

 

(d)          consolidate
or amalgamate with, or merge with or into, or convey, sell or otherwise transfer all or substantially all of its assets to, any
Person; provided that, so long as no Event of Default exists or would result therefrom, (A) Holdings, Intermediate Holdings
and/or Buyer may consolidate or amalgamate with, or merge with or into, any other Person (other than the Borrower or any of its
Restricted Subsidiaries) so long as (i) Holdings, Intermediate Holdings and/or Buyer, as applicable, is the continuing or
surviving Person or (ii) if the Person formed by or surviving any such consolidation, amalgamation or merger is not Holdings,
Intermediate Holdings and/or Buyer, as applicable, (w) the successor Person (such successor Person, “Successor Holdings”,
“Successor Intermediate Holdings” and/or “Successor Buyer”, as applicable) expressly assumes
all obligations of Holdings, Intermediate Holdings and/or Buyer, as applicable, under this Agreement and the other Loan Documents
to which Holdings, Intermediate Holdings and/or Buyer, as applicable, is a party pursuant to a supplement hereto and/or thereto
in a form reasonably satisfactory to the Administrative Agent, (x) Successor Holdings, Successor Intermediate Holdings and/or Successor
Buyer, as applicable, shall provide the documentation and other information reasonably requested in writing by the Lenders that
they reasonably determine is required by regulatory authorities under applicable “know your customer” and anti-money-laundering
rules and regulations, including the PATRIOT Act, in each case at least three Business Days prior to the effectiveness of such
merger, consolidation or amalgamation (or such shorter period as the Administrative Agent shall otherwise agree), (y) Successor
Holdings, Successor Intermediate Holdings and/or Successor Buyer, as applicable, shall be an entity organized or existing under
the laws of the U.S., any state thereof or the District of Columbia, and (z) the Borrower delivers a certificate of a Responsible
Officer with respect to the satisfaction of the conditions set forth in clause (w) of this clause (A) and (B) Holdings,
Intermediate Holdings and/or Buyer, as applicable, may otherwise convey, sell or otherwise transfer all or substantially all of
its assets to any other Person (other than the Borrower and any of its subsidiaries) so long as (x) no Change of Control results
therefrom, (y) the Person acquiring such assets expressly assumes all of the obligations of Holdings, Intermediate Holdings and/or
Buyer, as applicable, under this Agreement and the other Loan Documents to which Holdings, Intermediate Holdings and/or Buyer,
as applicable, is a party pursuant to a supplement hereto and/or thereto in a form reasonably satisfactory to the Administrative
Agent and (z) the Borrower delivers a certificate of a Responsible Officer with respect to the satisfaction of the conditions under
clause (x) set forth in this clause (B); provided, further, that (1) if the conditions set forth in
the preceding proviso are satisfied, Successor Holdings, Successor Intermediate Holdings and/or Successor Buyer, as applicable,
will succeed to, and be substituted for, Holdings, Intermediate Holdings and/or Buyer, as applicable, under this Agreement and
(2) it is understood and agreed that Holdings, Intermediate Holdings and/or Buyer, as applicable, may convert into another form
of entity so long as such conversion does not adversely affect the value of the Loan Guaranty or the Collateral.

 

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Section 6.12           [Reserved].

 

Section 6.13          Conduct
of Business. From and after the Closing Date, (i) neither Holdings, Intermediate Holdings nor the Borrower shall change its
Fiscal Year-end to a date other than on or about October 31 and (ii) the Borrower shall not, nor shall it permit any of its Restricted
Subsidiaries to, engage in any material line of business other than (a) the businesses engaged in by the Borrower or any of
its Restricted Subsidiaries on the Closing Date and similar, complementary, ancillary or related businesses and (b) such other
lines of business as may be consented to by the Required Lenders.

 

Article
7

EVENTS OF DEFAULT

 

Section 7.01           Events
of Default. If any of the following events (each, an “Event of Default”) shall occur:

 

(a)          Failure
To Make Payments When Due. Failure by the Borrower to pay (i) any installment of principal of any Loan when due, whether
at stated maturity, by acceleration, by notice of voluntary prepayment, by mandatory prepayment or otherwise; or (ii) any
interest on any Loan or any fee or any other amount due hereunder within five Business Days after the date due; or

 

(b)          Default
in Other Agreements. (i) Failure by any Loan Party or any of its Restricted Subsidiaries to pay when due any principal
of or interest on or any other amount payable in respect of one or more items of Indebtedness (other than Indebtedness referred
to in clause (a) above) with an aggregate outstanding principal amount exceeding the Threshold Amount; or (ii) breach
or default by any Loan Party or any of its Restricted Subsidiaries with respect to any other term of such Indebtedness described
under the foregoing clause (i) (other than Indebtedness under the ABL Facility) pursuant to any loan agreement, mortgage,
indenture or other agreement relating to such item(s) of Indebtedness (other than, for the avoidance of doubt, with respect to
Indebtedness consisting of Hedging Obligations, termination events or equivalent events pursuant to the terms of the relevant Hedge
Agreement which are not the result of any default thereunder by any Loan Party or any Restricted Subsidiary), in each case under
the foregoing clauses (i) and (ii), beyond the grace period, if any, provided therefor, if the effect of such breach
or default is to cause, or to permit the holder or holders of such Indebtedness (or a trustee or agent on behalf of such holder
or holders) to cause, such Indebtedness to become or to be declared due and payable (or redeemable) or require that an offer to
repurchase, prepay, defease or redeem such Indebtedness be made prior to its stated maturity or the stated maturity of any underlying
obligation, as the case may be; provided that clause (ii) of this paragraph (b) shall not apply to secured
Indebtedness that becomes due as a result of the voluntary sale or transfer of the property securing such Indebtedness if such
sale or transfer is permitted hereunder; provided, further, that any failure under clauses (i) or (ii)
above is unremedied and is not waived by the holders of such Indebtedness prior to any termination of the Commitments or acceleration
of the Loans pursuant to Article 7. A breach or default by any Loan Party with respect to the ABL Credit Agreement or with
respect to the ABL Facility (other than any payment default thereunder which is subject to clause (i) herein), will not
constitute an Event of Default unless the agent and/or lenders thereunder have demanded repayment of, or otherwise accelerated,
all of the Indebtedness and terminated commitments thereunder; or

 

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(c)          Breach
of Certain Covenants. Failure of any Loan Party, as required by the relevant provision, to perform or comply with any term
or condition contained in Section 5.01(e)(i) (provided that delivery of any notice of default required to be delivered
therein at any time will cure any Event of Default arising from the failure to timely deliver such notice), Section 5.02
(with respect to the preservation of the legal existence of the Borrower) or Article 6; or

 

(d)          Breach
of Representations, Etc. Any representation, warranty or certification made or deemed made by any Loan Party in any Loan Document
or in any certificate required to be delivered in connection herewith or therewith (including, for the avoidance of doubt, any
Perfection Certificate and any Perfection Certificate Supplement) being untrue in any material respect as of the date made or deemed
made (subject to a thirty (30) day grace period in the case of any breached representation, warranty or certification (other than
a Specified Representation) that is reasonably capable of being cured); or

 

(e)          Other
Defaults Under Loan Documents. Default by any Loan Party in the performance of or compliance with any term contained herein
or any of the other Loan Documents, other than any such term referred to in any other Section of this Article 7, which default
has not been remedied or waived within 30 days after receipt by the Borrower of written notice thereof from the Administrative
Agent; or

 

(f)           Involuntary
Bankruptcy; Appointment of Receiver, Etc. (i) The entry by a court of competent jurisdiction of a decree or order for
relief in respect of Holdings, Intermediate Holdings, the Borrower or any of its Restricted Subsidiaries (other than any Immaterial
Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed;
or any other similar relief shall be granted under any applicable federal, state or local Requirements of Law; or (ii) the
commencement of an involuntary case against Holdings, Intermediate Holdings, the Borrower or any of its Restricted Subsidiaries
(other than any Immaterial Subsidiary) under any Debtor Relief Law; or the entry by a court having jurisdiction in the premises
of a decree or order for the appointment of a receiver, receiver and manager, administrator, examiner, (preliminary) insolvency
receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over Holdings, Intermediate Holdings,
the Borrower or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary), or over all or a substantial part of
its or their property; or the involuntary appointment of an interim receiver, trustee or other custodian of Holdings, Intermediate
Holdings, the Borrower or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) for all or a substantial part
of its property, which remains undismissed, unvacated, unbonded or unstayed pending appeal for 60 consecutive days; or

 

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(g)          Voluntary
Bankruptcy; Appointment of Receiver, Etc. (i) The entry against Holdings, Intermediate Holdings, the Borrower or any of its
Restricted Subsidiaries (other than any Immaterial Subsidiary) of an order for relief, the commencement by Holdings, Intermediate
Holdings, the Borrower or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) of a voluntary case under any
Debtor Relief Law, or the consent by Holdings, Intermediate Holdings, the Borrower or any of its Restricted Subsidiaries (other
than any Immaterial Subsidiary) to the entry of an order for relief in an involuntary case or to the conversion of an involuntary
case to a voluntary case, under any Debtor Relief Law, or the consent by Holdings, Intermediate Holdings, the Borrower or any of
its Restricted Subsidiaries (other than any Immaterial Subsidiary) to the appointment of or taking possession by a receiver, receiver
and manager, trustee or other custodian for all or a substantial part of its property; (ii) the making by Holdings, Intermediate
Holdings, the Borrower or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) of a general assignment for
the benefit of creditors; or (iii) the admission by Holdings, Intermediate Holdings, the Borrower or any of its Restricted Subsidiaries
(other than any Immaterial Subsidiary) in writing of their inability to pay their respective debts as such debts become due; or

 

(h)          Judgments
and Attachments. The entry or filing of one or more final money judgments, writs or warrants of attachment or similar process
against Holdings, Intermediate Holdings, the Borrower or any of its Restricted Subsidiaries or any of their respective assets involving
in the aggregate at any time an amount in excess of the Threshold Amount (in either case to the extent not adequately covered by
self-insurance (if applicable) or by insurance as to which the relevant third party insurance company has been notified and not
denied coverage), which judgment, writ, warrant or similar process remains unpaid, undischarged, unvacated, unbonded or unstayed
pending appeal for a period of 60 days; or

 

(i)           Employee
Benefit Plans. The occurrence of one or more ERISA Events, which individually or in the aggregate result in liability of the
Borrower or any of its Restricted Subsidiaries, in an aggregate amount which would reasonably be expected to result in a Material
Adverse Effect; or

 

(j)           Change
of Control. The occurrence of a Change of Control; or

 

(k)          Guaranties,
Collateral Documents and Other Loan Documents. At any time after the execution and delivery thereof, (i) any material
Loan Guaranty for any reason, other than the occurrence of the Termination Date, shall cease to be in full force and effect (other
than in accordance with its terms) or shall be declared to be null and void or any Guarantor shall repudiate in writing its obligations
thereunder (other than as a result of the discharge of such Guarantor in accordance with the terms thereof), (ii) this Agreement
or any material Collateral Document ceases to be in full force and effect or shall be declared null and void (other than by reason
of (x)  a release of Collateral in accordance with the terms hereof or thereof or (y) the occurrence of the Termination Date
or any other termination of such Collateral Document in accordance with the terms thereof) or (iii) any Loan Party shall contest
in writing the validity or enforceability of any Loan Document or any material provision of any Loan Document or deny in writing
that it has any further liability (other than by reason of the occurrence of the Termination Date), including with respect to future
advances by the Lenders, under any Loan Document to which it is a party; it being understood and agreed that the failure of the
Administrative Agent to maintain possession of any Collateral actually delivered to it or file any UCC (or equivalent) continuation
statement shall not result in an Event of Default under this clause (k) or any other provision of any Loan Document; or

 

(l)           Subordination.
The Obligations ceasing or the assertion in writing by any Loan Party that the Obligations cease to constitute senior indebtedness
under the subordination provisions of any document or instrument evidencing any Junior Indebtedness or Junior Lien Indebtedness
in excess of the Threshold Amount or any such subordination provision being invalidated or otherwise ceasing, for any reason, to
be valid, binding and enforceable obligations of the parties thereto; or

    	 	135 	 

     

    

 

then, and in every
such event (other than an event with respect to the Borrower described in clause (f) or (g) of this Article), and
at any time thereafter during the continuance of such event, the Administrative Agent may, and at the request of the Required Lenders
shall, by notice to the Borrower, take any of the following actions, at the same or different times: declare the Loans then outstanding
to be due and payable in whole (or in part, in which case any principal not so declared to be due and payable may thereafter be
declared to be due and payable), and thereupon the principal of the Loans so declared to be due and payable, together with accrued
interest thereon and all fees and other obligations of the Borrower accrued hereunder, shall become due and payable immediately,
without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower. Upon the occurrence
and during the continuance of an Event of Default, the Administrative Agent may, and at the request of the Required Lenders shall,
exercise any rights and remedies provided to the Administrative Agent under the Loan Documents or at law or equity, including all
remedies provided under the UCC.

 

Article
8

THE ADMINISTRATIVE AGENT

 

Each of the Lenders
hereby irrevocably appoints Credit Suisse (or any successor appointed pursuant hereto) as Administrative Agent and authorizes the
Administrative Agent to take such actions on its behalf, including execution of the other Loan Documents, and to exercise such
powers as are delegated to the Administrative Agent by the terms of the Loan Documents, together with such actions and powers as
are reasonably incidental thereto.

 

Any Person serving
as Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may
exercise the same as though it were not the Administrative Agent, and the term “Lender” or “Lenders”
shall, unless otherwise expressly indicated, unless the context otherwise requires or unless such Person is in fact not a Lender,
include each Person serving as Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept
deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind
of business with any Loan Party or any subsidiary of any Loan Party or other Affiliate thereof as if it were not the Administrative
Agent hereunder. The Lenders acknowledge that, pursuant to such activities, the Administrative Agent or its Affiliates may receive
information regarding any Loan Party or any of its Affiliates (including information that may be subject to confidentiality obligations
in favor of such Loan Party or such Affiliate) and acknowledge that the Administrative Agent shall not be under any obligation
to provide such information to them.

 

    	 	136 	 

     

    

 

The Administrative
Agent shall not have any duties or obligations except those expressly set forth in the Loan Documents. Without limiting the generality
of the foregoing, (a) the Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of
whether a Default or Event of Default exists and the use of the term “agent” herein and in the other Loan Documents
with reference to the Administrative Agent is not intended to connote any fiduciary or other implied (or express) obligations arising
under agency doctrine of any applicable Requirements of Law; it being understood that such term is used merely as a matter of market
custom, and is intended to create or reflect only an administrative relationship between independent contracting parties, (b) the
Administrative Agent shall not have any duty to take any discretionary action or exercise any discretionary power, except discretionary
rights and powers that are expressly contemplated by the Loan Documents and which the Administrative Agent is required to exercise
in writing as directed by the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the
relevant circumstances as provided in Section 9.02); provided that the Administrative Agent shall not be required
to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that
is contrary to any Loan Document or applicable Requirements of Law, and (c) except as expressly set forth in the Loan Documents,
the Administrative Agent shall not have any duty to disclose, and shall not be liable for the failure to disclose, any information
relating to Holdings, Intermediate Holdings or the Borrower or any of its Restricted Subsidiaries that is communicated to or obtained
by the Person serving as Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent shall not be liable
to the Lenders or any other Secured Parties for any action taken or not taken by it with the consent or at the request of the Required
Lenders (or such other number or percentage of the Lenders as is necessary, or as the Administrative Agent believes in good faith
shall be necessary, under the relevant circumstances as provided in Section 9.02) or in the absence of its own gross negligence
or willful misconduct as determined by the final judgment of a court of competent jurisdiction, in connection with its duties expressly
set forth herein. The Administrative Agent shall not be deemed to have knowledge of any Default or Event of Default unless and
until written notice thereof is given to the Administrative Agent by the Borrower or any Lender, and the Administrative Agent shall
not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in
or in connection with any Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder
or in connection with any Loan Document, (iii) the performance or observance of any covenant, agreement or other term or condition
set forth in any Loan Document or the occurrence of any Default or Event of Default, (iv) the validity, enforceability, effectiveness
or genuineness of any Loan Document or any other agreement, instrument or document, (v) the creation, perfection or priority
of any Lien on the Collateral or the existence, value or sufficiency of the Collateral, (vi) the satisfaction of any condition
set forth in Article 4 or elsewhere in any Loan Document, other than to confirm receipt of items expressly required to be
delivered to the Administrative Agent or (vii) any property, book or record of any Loan Party or any Affiliate thereof.

 

The Administrative
Agent shall not be responsible or have any liability for, or have any duty to ascertain, inquire into, monitor or enforce, compliance
with the provisions hereof relating to Disqualified Institutions by any other Lender. Without limiting the generality of the foregoing,
the Administrative Agent shall not ‎(x) be obligated to ascertain, monitor or inquire as to whether any other Lender or participant
or prospective Lender or Participant is a Disqualified ‎Institution or (y) have any liability with respect to or arising out
of any assignment or participation of Loans, or disclosure of confidential information, to any ‎Disqualified Institution by
any other Lender.

 

Each Lender agrees
that, except with the written consent of the Administrative Agent, it will not take any enforcement action hereunder or under any
other Loan Document, accelerate the Obligations under any Loan Document, or exercise any right that it might otherwise have under
applicable Requirements of Law or otherwise to credit bid at any foreclosure sale, UCC sale, any sale under Section 363 of the
Bankruptcy Code or any other similar Disposition of Collateral, whether under other Debtor Relief Laws or otherwise. Notwithstanding
the foregoing, a Lender may take action to preserve or enforce its rights against a Loan Party where a deadline or limitation period
is applicable that would, absent such action, bar enforcement of the Obligations held by such Lender, including the filing of a
proof of claim in a case under the Bankruptcy Code.

 

    	 	137 	 

     

    

 

Notwithstanding anything
to the contrary contained herein or in any of the other Loan Documents, the Borrower, the Administrative Agent and each Secured
Party agree that (i) no Secured Party shall have any right individually to realize upon any of the Collateral or to enforce
the Loan Guaranty; it being understood and agreed that all powers, rights and remedies hereunder may be exercised solely by the
Administrative Agent, on behalf of the Secured Parties in accordance with the terms hereof and all powers, rights and remedies
under the other Loan Documents may be exercised solely by the Administrative Agent, and (ii) in the event of a foreclosure
by the Administrative Agent on any of the Collateral pursuant to a public or private sale or in the event of any other Disposition
(including pursuant to Section 363 of the Bankruptcy Code), (A) the Administrative Agent, as agent for and representative of the
Secured Parties, shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or
any portion of the Collateral sold at any such sale, to use and apply all or any portion of the Obligations as a credit on account
of the purchase price for any Collateral payable by the Administrative Agent at such Disposition and (B) the Administrative Agent
or any Lender may be the purchaser or licensor of all or any portion of such Collateral at any such Disposition.

 

No holder of any Secured
Hedging Obligation or Banking Services Obligation in its respective capacity as such shall have any rights in connection with the
management or release of any Collateral or of the obligations of any Loan Party under this Agreement.

 

Each of the Lenders
hereby irrevocably authorizes (and by entering into a Hedge Agreement with respect to any Secured Hedging Obligation and/or by
entering into documentation in connection with any Banking Services Obligation, each of the other Secured Parties hereby authorizes
and shall be deemed to authorize) the Administrative Agent, on behalf of all Secured Parties to take any of the following actions
upon the instruction of the Required Lenders:

 

(a)          consent
to the Disposition of all or any portion of the Collateral free and clear of the Liens securing the Secured Obligations in connection
with any Disposition pursuant to the applicable provisions of the Bankruptcy Code, including Section 363 thereof or any similar
provision in any other Debtor Relief Laws;

 

(b)          credit
bid all or any portion of the Secured Obligations, or purchase all or any portion of the Collateral (in each case, either directly
or through one or more acquisition vehicles), in connection with any Disposition of all or any portion of the Collateral pursuant
to the applicable provisions of the Bankruptcy Code, including under Section 363 thereof;

 

(c)          credit
bid all or any portion of the Secured Obligations, or purchase all or any portion of the Collateral (in each case, either directly
or through one or more acquisition vehicles), in connection with any Disposition of all or any portion of the Collateral pursuant
to the applicable provisions of the UCC, including pursuant to Sections 9-610 or 9-620 of the UCC;

 

(d)          credit
bid all or any portion of the Secured Obligations, or purchase all or any portion of the Collateral (in each case, either directly
or through one or more acquisition vehicles), in connection with any foreclosure or other Disposition conducted in accordance with
applicable Requirements of Law following the occurrence of an Event of Default, including by power of sale, judicial action or
otherwise; and/or

 

(e)          estimate
the amount of any contingent or unliquidated Secured Obligations of such Lender or other Secured Party;

 

it being understood
that no Lender shall be required to fund any amount in connection with any purchase of all or any portion of the Collateral by
the Administrative Agent pursuant to the foregoing clauses (b), (c) or (d) without its prior written consent.

 

    	 	138 	 

     

    

 

Each Secured Party
agrees that the Administrative Agent is under no obligation to credit bid any part of the Secured Obligations or to purchase or
retain or acquire any portion of the Collateral; provided that, in connection with any credit bid or purchase described
under clauses (b), (c) or (d) of the preceding paragraph, the Secured Obligations owed to all of the Secured
Parties (other than with respect to contingent or unliquidated liabilities as set forth in the next succeeding paragraph) may be,
and shall be, credit bid by the Administrative Agent on a ratable basis.

 

With respect to each
contingent or unliquidated claim that is a Secured Obligation, the Administrative Agent is hereby authorized, but is not required,
to estimate the amount thereof for purposes of any credit bid or purchase described in the second preceding paragraph. In the event
that the Administrative Agent, in its sole and absolute discretion, elects not to estimate any such contingent or unliquidated
claim, then any contingent or unliquidated claims not so estimated shall be disregarded, shall not be credit bid, and shall not
be entitled to any interest in the portion or the entirety of the Collateral purchased by means of such credit bid.

 

Each Secured Party
whose Secured Obligations are credit bid under clauses (b), (c) or (d) of the third preceding paragraph is
entitled to receive interests in the Collateral or any other asset acquired in connection with such credit bid (or in the Capital
Stock of the acquisition vehicle or vehicles that are used to consummate such acquisition) on a ratable basis in accordance with
the percentage obtained by dividing (x) the amount of the Secured Obligations of such Secured Party that were credit bid in
such credit bid or other Disposition, by (y) the aggregate amount of all Secured Obligations that were credit bid in such
credit bid or other Disposition.

 

In addition, in case
of the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding relative to any Loan Party, each
Secured Party agrees that the Administrative Agent (irrespective of whether the principal of any Loan is then due and payable as
herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand
on the Borrower) shall be entitled and empowered, by intervention in such proceeding or otherwise:

 

(i)            to
file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans and all other
Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims
of the Lenders and the Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances
of the Lenders and the Administrative Agent and their respective agents and counsel and all other amounts to the extent due to
the Lenders and the Administrative Agent under Sections 2.09 and 9.03) allowed in such judicial proceeding;
and

 

(ii)           to
collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same.

 

Any custodian, receiver,
assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each
Lender to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making
of such payments directly to the Lenders to pay to the Administrative Agent any amount due for the reasonable compensation, expenses,
disbursements and advances of the Administrative Agent and its agents and counsel, and any other amount to the extent due to the
Administrative Agent under Sections 2.09 and 9.03.

 

Nothing contained herein
shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of any Lender any
plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or to authorize
the Administrative Agent to vote in respect of the claim of any Lender in any such proceeding.

 

    	 	139 	 

     

    

 

The Administrative
Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent,
statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other
distribution) that it believes to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. The
Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by
the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder
to the making of a Loan that by its terms must be fulfilled to the satisfaction of a Lender, the Administrative Agent may presume
that such condition is satisfactory to such Lender unless the Administrative Agent has received notice to the contrary from such
Lender prior to the making of such Loan. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower),
independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance
with the advice of any such counsel, accountants or experts.

 

The Administrative
Agent may perform any and all of its duties and exercise its rights and powers by or through any one or more sub-agents appointed
by the Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all of their respective duties
and exercise their respective rights and powers through their respective Related Parties. The exculpatory provisions of this Article
shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent and shall apply
to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities
as the Administrative Agent.

 

The Administrative
Agent may resign at any time by giving 30 days written notice to the Lenders and the Borrower. If the Administrative Agent is a
Defaulting Lender or an Affiliate of a Defaulting Lender, either the Required Lenders or the Borrower may, upon ten days’
notice to the Lenders and the Administrative Agent, remove the Administrative Agent. Upon receipt of any such notice of resignation
or delivery of any such notice of removal, the Required Lenders shall have the right, with the consent of the Borrower (not to
be unreasonably withheld or delayed), to appoint a successor Administrative Agent which shall be a commercial bank or trust company
with offices in the U.S. having combined capital and surplus in excess of $1,000,000,000; provided that during the existence
and continuation of an Event of Default under Section 7.01(a) or, with respect to the Borrower, Section 7.01(f) or
(g), no consent of the Borrower shall be required. If no successor shall have been so appointed as provided above and accepted
such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation or the Administrative Agent
receives notice of removal, then (a) in the case of a retirement, the retiring Administrative Agent may (but shall not be
obligated to), on behalf of the Lenders, appoint a successor Administrative Agent meeting the qualifications set forth above (including,
for the avoidance of doubt, consent of the Borrower) or (b) in the case of a removal, the Borrower may, after consulting with
the Required Lenders, appoint a successor Administrative Agent meeting the qualifications set forth above; provided that
(x) in the case of a retirement, if the Administrative Agent shall notify the Borrower and the Lenders that no qualifying
Person has accepted such appointment or (y) in the case of a removal, the Borrower notifies the Required Lenders that no qualifying
Person has accepted such appointment, then, in each case, such resignation or removal shall nonetheless become effective in accordance
with such notice and (i) the retiring or removed Administrative Agent shall be discharged from its duties and obligations
hereunder and under the other Loan Documents (except that in the case of any collateral security held by the Administrative Agent
in its capacity as collateral agent for the Secured Parties for purposes of maintaining the perfection of the Lien on the Collateral
securing the Secured Obligations, the retiring Administrative Agent shall continue to hold such collateral security until such
time as a successor Administrative Agent is appointed) and (ii) all payments, communications and determinations required to
be made by, to or through the Administrative Agent shall instead be made by or to each Lender (and each Lender will cooperate with
the Borrower to enable the Borrower to take such actions), until such time as the Required Lenders or the Borrower, as applicable,
appoint a successor Administrative Agent, as provided for above in this Article 8. Upon the acceptance of its appointment
as Administrative Agent hereunder as a successor Administrative Agent, the successor Administrative Agent shall succeed to and
become vested with all the rights, powers, privileges and duties of the retiring or removed Administrative Agent (other than any
rights to indemnity payments owed to the retiring Administrative Agent), and the retiring or removed Administrative Agent shall
be discharged from its duties and obligations hereunder (other than its obligations under Section 9.13). The fees payable
by the Borrower to any successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed
between the Borrower and such successor Administrative Agent. After the Administrative Agent’s resignation or removal hereunder,
the provisions of this Article 8 and Section 9.03 shall continue in effect for the benefit of such retiring or removed
Administrative Agent, its sub-agents and their respective Related Parties in respect of any action taken or omitted to be taken
by any of them while the relevant Person was acting as Administrative Agent (including for this purpose holding collateral security
following retirement or removal of the Administrative Agent). Notwithstanding anything to the contrary herein, no Disqualified
Institution may be appointed as a successor Administrative Agent.

 

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Each Lender acknowledges
that it has, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties
and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into
this Agreement. Each Lender also acknowledges that it will, independently and without reliance upon the Administrative Agent or
any other Lender or any of their respective Related Parties and based on such documents and information as it shall from time to
time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any
other Loan Document or related agreement or any document furnished hereunder or thereunder. Except for notices, reports and other
documents expressly required to be furnished to the Lenders by the Administrative Agent herein, the Administrative Agent shall
not have any duty or responsibility to provide any Lender with any credit or other information concerning the business, prospects,
operations, property, financial and other condition or creditworthiness of any of the Loan Parties or any of their respective Affiliates
which may come into the possession of the Administrative Agent or any of its Related Parties.

 

Notwithstanding anything
to the contrary herein, the Arrangers shall not have any right, power, obligation, liability, responsibility or duty under this
Agreement, except in their respective capacities, as applicable, as the Administrative Agent or a Lender hereunder.

 

Each Lender irrevocably
authorizes and instructs the Administrative Agent to, and the Administrative Agent shall (in the case of clauses (c) and
(d), promptly after the reasonable request of the Borrower),

 

(a)          release
any Lien on any property granted to or held by Administrative Agent under any Loan Document (i) upon the occurrence of the
Termination Date, (ii) that is sold or to be sold or transferred as part of or in connection with any Disposition permitted
under the Loan Documents to a Person that is not a Loan Party, (iii) constitutes (or becomes) an “Excluded Asset”
(iv) if the property subject to such Lien is owned by a Subsidiary Guarantor, upon the release of such Subsidiary Guarantor
from its Loan Guaranty otherwise in accordance with the Loan Documents, (v) as required under clause (d) below or (vi) if
approved, authorized or ratified in writing by the Required Lenders in accordance with Section 9.02;

 

    	 	141 	 

     

    

 

(b)          release
any Subsidiary Guarantor from its obligations under the Loan Guaranty if such Person ceases to be a Restricted Subsidiary (or becomes
an Excluded Subsidiary (other than pursuant to clause (a) of the definition thereof)) as a result of a single transaction or series
of related transactions permitted hereunder;

 

(c)          subordinate
any Lien on any property granted to or held by the Administrative Agent under any Loan Document to the holder of any Lien on such
property that is permitted by Sections 6.02(d), 6.02(e), 6.02(g), 6.02(m), 6.02(o), 6.02(p),
6.02(y), 6.02(w), 6.02(x)(i), 6.02(z), 6.02(aa) and 6.02(cc) (and Liens securing Refinancing
Indebtedness in respect of any thereof incurred in reliance on Section 6.02(k)); and

 

(d)          enter
into subordination, intercreditor and/or similar agreements with respect to Indebtedness (including any Acceptable Intercreditor
Agreement) that is (i) required or permitted to be subordinated hereunder and/or (ii) secured by Liens, and with respect to which
Indebtedness, this Agreement contemplates an intercreditor, subordination, collateral trust agreement or similar agreement;

 

provided, that
any documentation contemplated by clauses (c) and/or (d) above shall be reasonably satisfactory to the Administrative
Agent (it being understood and agreed that any such documentation that is on current market terms shall be deemed to be satisfactory
to the Administrative Agent) and the Borrower.

 

Upon the request of
the Administrative Agent at any time, the Required Lenders will confirm in writing the Administrative Agent’s authority to
release or subordinate its interest in particular types or items of property, or to release any Loan Party from its obligations
under the Loan Guaranty pursuant to this Article 8. In each case as specified in this Article 8, the Administrative
Agent will (and each Lender hereby authorizes the Administrative Agent to), at the Borrower’ expense, execute and deliver
to the applicable Loan Party such documents as such Loan Party may reasonably request to evidence the release of such item of Collateral
from the assignment and security interest granted under the Collateral Documents or to subordinate its interest therein, or to
release such Loan Party from its obligations under the Loan Guaranty, in each case in accordance with the terms of the Loan Documents
and this Article 8.

 

The Administrative
Agent is authorized to enter into the Intercreditor Agreement and any other Acceptable Intercreditor Agreement, any other intercreditor
agreement, collateral trust or similar agreement contemplated hereby with respect to any (a) Indebtedness (i) that is (A) required
or permitted to be subordinated hereunder and/or (B) secured by Liens and which contemplates an intercreditor, subordination
or collateral trust agreement and/or (b) Secured Hedging Obligations and/or Secured Banking Services Obligations, whether or not
constituting Indebtedness (any such other intercreditor agreement, an “Additional Agreement”) and, by accepting
the benefits of the Collateral, each Secured Party, whether or not a party hereto, hereby acknowledges that the Intercreditor Agreement
and any Additional Agreement is binding upon it. By accepting the benefits of the Collateral, each Secured Party, whether or not
a party hereto, (a)  agrees that it will be bound by, and will not take any action contrary to, the provisions of the Intercreditor
Agreement and/or any Additional Agreement, (b) authorizes and instructs the Administrative Agent to execute and deliver, in
each case on behalf of such Secured Party and without any further consent, authorization or other action by such Secured Party,
any amendments, supplements or other modifications of any Collateral Document to add or remove any legend that may be required
pursuant to the Intercreditor Agreement and/or any Additional Agreement and (c) authorizes and instructs the Administrative Agent
to enter into the Intercreditor Agreement and/or any Additional Agreement and to subject the Liens on the Collateral securing the
Secured Obligations to the provisions thereof. The foregoing provisions are intended as an inducement to the Secured Parties to
extend credit to the Borrower, and the Secured Parties are intended third-party beneficiaries of such provisions and the provisions
of the Intercreditor Agreement and/or any Additional Agreement.

 

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To the extent that
the Administrative Agent (or any Affiliate thereof) is not reimbursed and indemnified by the Borrower in accordance with and to
the extent required by Section 9.03(b), the Lenders will reimburse and indemnify the Administrative Agent (and any Affiliate
thereof) in proportion to their respective Applicable Percentages (determined as if there were no Defaulting Lenders) for and against
any and all liabilities, obligations, losses, damages, penalties, claims, actions, judgments, costs, expenses or disbursements
of whatsoever kind or nature which may be imposed on, asserted against or incurred by the Administrative Agent (or any Affiliate
thereof) in performing its duties hereunder or under any other Loan Document or in any way relating to or arising out of this Agreement
or any other Loan Document; provided that no Lender shall be liable for any portion of such liabilities, obligations, losses,
damages, penalties, claims, actions, judgments, suits, costs, expenses or disbursements resulting from the Administrative Agent’s
(or such affiliate’s) gross negligence or willful misconduct (as determined by a court of competent jurisdiction in a final
and non-appealable decision).

 

Each counterparty to
a Hedge Agreement that constitutes a Secured Hedging Obligation and each provider of Banking Services that constitutes Banking
Services Obligations acknowledges and agrees that neither the Administrative Agent nor any Lender owes such Person, solely by virtue
of its interest in Banking Services Obligations and Hedging Obligations, any duty under the Loan Documents (except that any payments
in respect of the Obligations and proceeds of Collateral, in each case received by the Administrative Agent, shall be applied as
provided in Section 2.15(b)) and such Person, solely by virtue of its interest in such Hedging Obligations, has no voting
or consent rights under the Loan Documents (including Section 9.02). The Administrative Agent shall be entitled to assume
no amounts are due or owing in respect of Banking Services Obligations and Hedging Obligations to any Person with an interest in
any Banking Services Obligations and Hedging Obligations unless such Person has provided a written certification (setting forth
a reasonably detailed calculation) to the Administrative Agent as to the amounts that are due and owing to it and such written
certification is received by the Administrative Agent a reasonable period of time prior to the making of any distribution pursuant
to Section 2.15(b). The Administrative Agent shall have no obligation to calculate the amount due and payable with respect
to any Banking Services Obligations and Hedging Obligations, but may rely upon the written certification of the amount due and
payable from the applicable counterparty to a Hedge Agreement that constitutes a Secured Hedging Obligation or the applicable provider
of Banking Services that constitutes Banking Services Obligations, as the case may be. In the absence of an updated certification,
the Administrative Agent shall be entitled to assume that the amount due and payable to such Person is the amount last certified
to the Administrative Agent by such Person as being due and payable (less any distributions made by the Administrative Agent to
such Person on account thereof).

 

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Each Lender (x) represents
and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became
a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent
and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that at least one of the following
is and will be true:

 

(i)            such
Lender is not using “plan assets” (within the meaning of Section 3(42) of ERISA or otherwise) of one or more Benefit
Plans with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the
Commitments or this Agreement,

 

(ii)           the
transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by
independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company
general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts),
PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption
for certain transactions determined by in-house asset managers), is applicable with respect to such Lender’s entrance into,
participation in, administration of and performance of the Loans, the Commitments and this Agreement,

 

(iii)          (A)
such Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning of Part VI
of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into,
participate in, administer and perform the Loans, the Commitments and this Agreement, (C) the entrance into, participation in,
administration of and performance of the Loans, the Commitments and this Agreement satisfies the requirements of sub-sections (b)
through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of
PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance
of the Loans, the Commitments and this Agreement, or

 

(iv)          such
other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion,
and such Lender.

 

In addition, unless
either (1) sub-clause (i) in the immediately preceding paragraph is true with respect to a Lender or (2) a Lender has provided
another representation, warranty and covenant in accordance with sub-clause (iv) in the immediately preceding paragraph, such Lender
further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date
such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative
Agent and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that the Administrative
Agent is not a fiduciary with respect to the assets of such Lender involved in such Lender’s entrance into, participation
in, administration of and performance of the Loans, the Commitments and this Agreement (including in connection with the reservation
or exercise of any rights by the Administrative Agent under this Agreement, any Loan Document or any documents related hereto or
thereto).

 

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Article
9

MISCELLANEOUS

 

Section 9.01           Notices.

 

(a)          Except
in the case of notices and other communications expressly permitted to be given by telephone (and subject to paragraph (b)
below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight
courier service, mailed by certified or registered mail or sent by facsimile or email, as follows:

 

(i)             if
to any Loan Party, to such Loan Party in the care of the Borrower at:

 

Concrete Pumping Holdings, Inc.

6461 Downing Street

Denver, CO 80029

Attn: Iain Humphries

Tel.: (303) 289-7497

Email: iainhumphries@brundagebone.com

 

with copy to:

 

Argand Partners LP

Club Row Building

28 West 44th Street, Suite 501

New York, NY 10036

Attn: Tariq Osman

Tel.: (212) 588-6470

Email: tosman@argandequity.com

 

with additional copy to (which shall not constitute
notice to any Loan Party):

 

Winston & Strawn LLP

200 Park Avenue

New York, NY 10166-4193

Attn: Peter Alfano

Tel.: (212) 294-6765

Email: palfano@winston.com

 

(ii)           if
to the Administrative Agent, at:

 

Credit Suisse AG, Cayman Islands Branch

Eleven Madison Avenue., 9th Floor

New York, NY 10010

Tel.: 919-994-6369

Attn: Loan Operations – Agency Manager

Fax: 212-322-2291

Email: agency.loanops@credit-suisse.com

 

with copy to (which shall not constitute notice to
the Administrative Agent):

 

Davis Polk & Wardwell, LLP

450 Lexington Avenue

New York, NY 10017

Attn: Jason Kyrwood

Tel.: (212) 450-4653

Fax: (212) 701-5653

Email: jason.kyrwood@davispolk.com

 

    	 	145 	 

     

    

 

(iii)           if
to any Lender, to it at its address or facsimile number set forth in its Administrative Questionnaire.

 

All such notices and
other communications (A) sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed
to have been given when delivered in person or by courier service and signed for against receipt thereof or three Business Days
after dispatch if sent by certified or registered mail, in each case, delivered, sent or mailed (properly addressed) to the relevant
party as provided in this Section 9.01 or in accordance with the latest unrevoked direction from such party given in accordance
with this Section 9.01 or (B) sent by facsimile shall be deemed to have been given when sent and when receipt has been confirmed
by telephone; provided that notices and other communications sent by facsimile shall be deemed to have been given when sent
(except that, if not given during normal business hours for the recipient, such notices or other communications shall be deemed
to have been given at the opening of business on the next Business Day for the recipient). Notices and other communications delivered
through electronic communications to the extent provided in clause (b) below shall be effective as provided in such clause
(b).

 

(b)          Notices
and other communications to the Lenders hereunder may be delivered or furnished by electronic communications (including e-mail
and Internet or Intranet websites) pursuant to procedures set forth herein or otherwise approved by the Administrative Agent. The
Administrative Agent or the Borrower (on behalf of any Loan Party) may, in its discretion, agree to accept notices and other communications
to it hereunder by electronic communications pursuant to procedures set forth herein or otherwise approved by it; provided
that approval of such procedures may be limited to particular notices or communications. All such notices and other communications
(i) sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended
recipient (such as by the “return receipt requested” function, as available, return e-mail or other written
acknowledgement); provided that any such notice or communication not given during the normal business hours of the recipient,
shall be deemed to have been given at the opening of business on the next Business Day for the recipient, and (ii) posted
to an Internet or Intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address
as described in the foregoing clause (b)(i) of notification that such notice or communication is available and identifying
the website address therefor.

 

(c)          Any
party hereto may change its address or facsimile number for notices and other communications hereunder by written notice to the
other parties hereto.

 

Section 9.02         Waivers;
Amendments.

 

(a)          No
failure or delay by the Administrative Agent or any Lender in exercising any right or power hereunder or under any other Loan Document
shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance
of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or
power. The rights and remedies of the Administrative Agent and the Lenders hereunder and under any other Loan Document are cumulative
and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of any Loan Document
or consent to any departure by any party hereto therefrom shall in any event be effective unless the same is permitted by paragraph
(b) of this Section, and then such waiver or consent shall be effective only in the specific instance and for the purpose for
which given. Without limiting the generality of the foregoing, to the extent permitted by applicable Requirements of Law, the making
of any Loan shall not be construed as a waiver of any Default or Event of Default, regardless of whether the Administrative Agent
or any Lender may have had notice or knowledge of such Default or Event of Default at the time.

 

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(b)          Subject
to clauses (A) and (B) of this Section 9.02(b) and Sections 9.02(c) and (d) below, neither this
Agreement nor any other Loan Document nor any provision hereof or thereof may be waived, amended or modified, except (i) in
the case of this Agreement, pursuant to an agreement or agreements in writing entered into by the Borrower and the Required Lenders
(or the Administrative Agent with the consent of the Required Lenders) or (ii) in the case of any other Loan Document (other
than any waiver, amendment or modification to effectuate any modification thereto expressly contemplated by the terms of such other
Loan Document), pursuant to an agreement or agreements in writing entered into by the Administrative Agent and each Loan Party
that is party thereto, with the consent of the Required Lenders; provided that, notwithstanding the foregoing:

 

(A)        the
consent of each Lender directly and adversely affected thereby shall be required for any waiver, amendment or modification that:

 

(1)         increases
the Commitment of such Lender (other than with respect to any Incremental Facility pursuant to Section 2.19 in respect of
which such Lender has agreed to be an Additional Lender); it being understood that no amendment, modification or waiver of, or
consent to departure from, any condition precedent, representation or warranty, covenant, Default, Event of Default, mandatory
prepayment or mandatory reduction of the Commitments shall constitute an increase of any Commitment of such Lender;

 

(2)         reduces
the principal amount of any Loan owed to such Lender or any amount due to such Lender on any Loan Installment Date;

 

(3)         (x) extends
the scheduled final maturity of any Loan or (y) postpones any Loan Installment Date or any Interest Payment Date with respect
to Loans held by such Lender or the date of any scheduled payment of any fee payable to such Lender hereunder;

 

(4)         reduces
the rate of interest (other than to waive any Default or Event of Default or any obligation of the Borrower to pay interest to
such Lender at the default rate of interest under Section 2.10(c), which shall only require the consent of the Required
Lenders) or the amount of any fee owed to such Lender; it being understood that no change in the definition of “First Lien
Leverage Ratio”, “Total Leverage Ratio”, “Secured Leverage Ratio” or any other ratio used in the
calculation of any interest or fee due hereunder (including any component definition thereof) shall constitute a reduction in any
rate of interest or fee hereunder;

 

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(5)         extends
the expiry date of such Lender’s Commitment; it being understood that no amendment, modification or waiver of, or consent
to departure from, any condition precedent, representation, warranty, covenant, Default, Event of Default, mandatory prepayment
or mandatory reduction of any Commitment shall constitute an extension of any Commitment of any Lender; and

 

(6)         waives,
amends or modifies the provisions of Sections 2.08 or ‎2.15 of this Agreement or any other provision
of the Loan Documents in a manner that would alter the pro rata sharing of payments (including for the avoidance of doubt among
Classes or tranches) required thereby (except in connection with any transaction permitted under Sections ‎2.19,
‎2.20, ‎9.02(c) and/or ‎9.05(g));

 

(B)         no
such agreement shall:

 

(1)         change any
of the provisions of Section 9.02(a) or (b) or the definition of “Required Lenders” to reduce any voting
percentage required to waive, amend or modify any right thereunder or make any determination or grant any consent thereunder, without
the prior written consent of each Lender;

 

(2)         release
all or substantially all of the Collateral from the Lien granted pursuant to the Loan Documents (except as otherwise permitted
herein or in the other Loan Documents, including pursuant to Article 8 or Section 9.21 hereof), without the prior
written consent of each Lender; or

 

(3)         release
all or substantially all of the value of the Guarantees under the Loan Guaranty (except as otherwise permitted herein or in the
other Loan Documents, including pursuant to Section 9.18 hereof), without the prior written consent of each Lender;

 

provided, further,
that no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent hereunder in a
manner directly and adversely affecting such Person, without the prior written consent of the Administrative Agent.

 

(c)          Notwithstanding
the foregoing, this Agreement may be amended with the written consent of the Borrower and the Lenders providing the relevant Replacement
Term Loans to permit the refinancing or replacement of all or any portion of the outstanding Term Loans under any Class (any such
loans being refinanced or replaced, the “Replaced Term Loans”) with one or more replacement term loans hereunder
(“Replacement Term Loans”) pursuant to a Refinancing Amendment; provided that

 

(i)             the
aggregate principal amount of any Replacement Term Loans shall not exceed the aggregate principal amount of the Replaced Term Loans
(plus (1) any additional amounts permitted to be incurred under Section 6.01(a), (o), (q) and/or
(s) and, to the extent any such additional amounts are secured, the related Liens are permitted under Section 6.02(k)
(with respect to Liens securing Indebtedness permitted by Section 6.01(a), (o), (q) and/or (s)) plus
(2) the amount of accrued interest and premium (including tender premium) thereon and underwriting discounts, fees (including
upfront fees and original issue discount), commissions and expenses associated therewith),

 

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(ii)           any
Replacement Term Loans must have a final maturity date that is equal to or later than the final maturity date of, and have a Weighted
Average Life to Maturity that is equal to or greater than the Weighted Average Life to Maturity of, the relevant Replaced Term
Loans at the time of the relevant refinancing,

 

(iii)          any
Replacement Term Loans may be pari passu with or junior to any then-existing Term Loans in right of payment and pari passu with
or junior to such Term Loans with respect to the Collateral (provided that any Replacement Term Loans that are pari passu
with or junior to any then-existing Term Loans shall be subject to an Acceptable Intercreditor Agreement and may be, at the option
of the Administrative Agent and the Borrower, documented in a separate agreement or agreements), or be unsecured,

 

(iv)          any
Replacement Term Loans that are secured may not be secured by any assets other than the Collateral,

 

(v)            any
Replacement Term Loans that are guaranteed may not be guaranteed by any Person other than the Loan Parties,

 

(vi)          any
Replacement Term Loans may not participate on a greater than pro rata basis in any mandatory prepayment in respect of the Term
Loans (and any Additional Term Loans then subject to ratable repayment requirements),

 

(vii)         any
Replacement Term Loans may have pricing (including interest, fees and premiums) and, subject to preceding clause (vi), optional
prepayment and redemption terms as may be agreed by the Borrower and the lenders providing such Replacement Term Loans, and

 

(viii)        either
(i) the other terms and conditions of any Replacement Term Loans (excluding pricing, interest, fees, rate floors, premiums,
optional prepayment or redemption terms, security and maturity, subject to preceding clauses (ii) through (vii))
are substantially identical to, or (taken as a whole) not materially more favorable (as reasonably determined by the Borrower)
to the lenders providing such Replacement Term Loans than those applicable to the relevant Replaced Term Loans (other than covenants
or other provisions applicable only to periods after the Latest Term Loan Maturity Date (in each case, as of the date of incurrence
of such Replacement Term Loans)) or (ii) such Replacement Term Loans are provided on then-current market terms and conditions
(taken as a whole) at the time of incurrence (as reasonably determined by the Borrower) for the applicable type of Indebtedness.

 

(d)          Notwithstanding
anything to the contrary contained in this Section 9.02 or any other provision of this Agreement or any provision of any
other Loan Document:

 

(i)            the
Borrower and the Administrative Agent may, without the input or consent of any Lender, amend, supplement and/or waive this Agreement,
any other Loan Document or any guaranty, collateral security agreement, pledge agreement and/or related document (if any)
executed in connection with this Agreement or any other Loan Document (A) to comply with any Requirement of Law or the advice of
counsel, (B) to cause any such guaranty, collateral security agreement, pledge agreement or other document to be consistent with
this Agreement and/or the relevant other Loan Documents, (C) as required by Article 8 or (D) to cure any obvious error or
any ambiguity, omission, defect or inconsistency of a technical nature,

 

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(ii)            the
Borrower and the Administrative Agent may, without the input or consent of any other Lender (other than the relevant Lenders (including
Additional Lenders) providing Loans under such Sections), effect amendments to this Agreement and the other Loan Documents as may
be necessary in the reasonable opinion of the Borrower and the Administrative Agent to (1) effect the provisions of Sections
2.19, 2.20, 5.12, 6.13(i) or 9.02(c), or any other provision specifying that any waiver, amendment
or modification may be made with the consent or approval of the Administrative Agent and/or (2) to add terms (including representations
and warranties, conditions, prepayments, covenants or events of default), in connection with the addition of any Loan or Commitment
hereunder, that are favorable to the then-existing Lenders, as reasonably determined by the Administrative Agent,

 

(iii)           the
Administrative Agent and the Borrower may amend, restate, amend and restate or otherwise modify the Intercreditor Agreement and/or
any other Acceptable Intercreditor Agreement and/or Additional Agreement, as provided therein, in connection with a transaction
permitted hereunder,

 

(iv)           the
Administrative Agent may amend the Commitment Schedule to reflect assignments entered into pursuant to Section 9.05, Commitment
reductions or terminations pursuant to Section 2.06, implementations of Additional Term Loan Commitments or incurrences
of Additional Term Loans pursuant to Sections 2.19, 2.20 or 9.02(c) and reductions or terminations of any
such Additional Term Loan Commitments or Additional Term Loans,

 

(v)            no
Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder, except as permitted
pursuant to Section 2.18 and except that the Commitment and any Additional Commitment of any Defaulting Lender may not be
increased without the consent of such Defaulting Lender (it being understood that any Commitment or Loan held or deemed held by
any Defaulting Lender shall be excluded from any vote hereunder that requires the consent of any Lender, except as expressly provided
in Section 2.18),

 

(vi)           this
Agreement may be amended (or amended and restated) with the written consent of the Required Lenders, the Administrative Agent and
the Borrower (i) to add one or more additional credit facilities to this Agreement and to permit any extension of credit from time
to time outstanding thereunder and the accrued interest and fees in respect thereof to share ratably in the relevant benefits of
this Agreement and the other Loan Documents and (ii) to include appropriately the Lenders holding such credit facilities in any
determination of the Required Lenders on substantially the same basis as the Lenders prior to such inclusion;

 

(vii)         any
amendment, waiver or other modification of this Agreement that by its terms affects the rights or duties under this Agreement of
the Lenders of one or more Classes (but not the Lenders of any other Class), may be effected by an agreement or agreements in writing
entered into by the Borrower and the requisite number or percentage in interest of each affected Class of Lenders that would be
required to consent thereto under this Section if such Class of Lenders were the only Class of Lenders hereunder at the time; and

 

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(viii)         this
Agreement and any other Loan Document may be amended solely with the consent of the Administrative Agent and the Borrower without
the need to obtain the consent of any other Lender if such amendment is delivered in order to implement the “market flex”
provisions set forth in the Fee Letter; provided however, that notwithstanding the foregoing or any other provision hereof,
if the Borrower shall fail to execute any amendment that the Requisite Lead Arrangers (as defined in the Fee Letter) reasonably
determine to be necessary to effect the changes contemplated by the Flex Provisions (as defined in the Fee Letter) within three
Business Days from the date of delivery to the Borrower of a draft thereof, then the Administrative Agent is and shall be authorized
to execute such amendment on behalf of the Borrower and such amendment shall become effective without further action by any Person.

 

Section 9.03         Expenses;
Indemnity.

 

(a)          Except
as otherwise provided in Section 5.06, the Borrower shall pay (i) all reasonable and documented out-of-pocket expenses
incurred by each Arranger, the Administrative Agent and their respective Affiliates (but limited, in the case of legal fees and
expenses, to the actual reasonable and documented out-of-pocket fees, disbursements and other charges of one firm of outside counsel
to all such Persons taken as a whole and, if necessary, of one local counsel in any material relevant jurisdiction to all such
Persons, taken as a whole) in connection with the syndication and distribution (including via the Internet or through a service
such as IntraLinks) of the Term Facility, the preparation, execution, delivery and administration of the Loan Documents and any
related documentation, including in connection with any amendment, modification or waiver of any provision of any Loan Document
(whether or not the transactions contemplated thereby are consummated) and (ii) all reasonable and documented out-of-pocket
expenses incurred by the Administrative Agent, the Arrangers or the Lenders or any of their respective Affiliates (but limited,
in the case of legal fees and expenses, to the actual reasonable and documented out-of-pocket fees, disbursements and other charges
of one firm of outside counsel to all such Persons taken as a whole and, if necessary, of one local counsel in any material relevant
jurisdiction to all such Persons, taken as a whole) in connection with the enforcement, collection or protection of their respective
rights in connection with the Loan Documents, including their respective rights under this Section, or in connection with the Loans
made hereunder. Other than to the extent required to be paid on the Closing Date, all amounts due under this paragraph (a)
shall be payable by the Borrower within 30 days of receipt of an invoice setting forth such expenses in reasonable detail.

 

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(b)          The
Borrower shall indemnify each Arranger, the Administrative Agent, each Lender, and each Related Party of any of the foregoing Persons,
in each case, other than Disqualified Institutions (each such Person, together with their successors and assigns, an “Indemnitee”)
against, and hold each Indemnitee harmless from, any and all losses, claims, damages and liabilities to which such Indemnitee may
become subject arising out of or in connection with (i) the preparation, execution, delivery or administration of the Loan
Documents or any agreement or instrument contemplated thereby or the syndication of the Term Facility, the performance by the parties
hereto of their respective obligations thereunder or the consummation of the Transactions or any other transactions contemplated
hereby or thereby, (ii) the use of the proceeds of the Loans or (iii) any actual or alleged presence or Release of Hazardous
Materials at, on, under or from any currently or formerly owned, leased or operated real property or facility, or any Environmental
Liability or Environmental Claim related in any way to any Loan Party or any of their respective subsidiaries or (iv) any claim,
litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory and
regardless of whether any Indemnitee is a party thereto (a “Proceeding”), regardless of whether such matter
is initiated by a third party or by the Borrower, any other Loan Party or any of their respective Affiliates, and to reimburse
each Indemnitee within 30 days following written demand therefor (together with customary backup documentation in reasonable detail
supporting such reimbursement request) for any reasonable and documented legal or other out-of-pocket expenses incurred in connection
with investigating or defending a Proceeding (but limited, in the case of legal fees and expenses, to the actual reasonable and
documented out-of-pocket fees, disbursements and other charges of one counsel to all Indemnitees taken as a whole and, if reasonably
necessary, one local counsel in any material relevant jurisdiction to all Indemnitees, taken as a whole and solely in the case
of an actual or reasonably perceived conflict of interest where an Indemnitee informs the Borrower of such conflict, (x) one
additional counsel to all affected Indemnitees, taken as a whole, and (y) one additional local counsel to all affected Indemnitees,
taken as a whole), incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result; provided
that such indemnity shall not, as to any Indemnitee, be available to the extent that any such loss, claim, damage, or liability
(i) is determined by a final and non-appealable judgment of a court of competent jurisdiction to have resulted from the gross
negligence, bad faith or willful misconduct of such Indemnitee or such Indemnitee’s affiliates, controlling Persons or its
or their respective directors, managers, officers, trustees, employees, partners, agents, advisors or other representatives or,
to the extent such judgment finds that any such loss, claim, damage, or liability has resulted from such Person’s material
breach of the Loan Documents or (ii) arises out of any claim, litigation, investigation or proceeding brought by such Indemnitee
solely against one or more other Indemnitees (other than any claim, litigation, investigation or proceeding that is brought by
or against the Administrative Agent or any Arranger, acting in its capacity as the Administrative Agent or an Arranger) that does
not involve any act or omission of Holdings, Intermediate Holdings, the Borrower or any of their respective subsidiaries. All amounts
due under this paragraph (b) shall be payable by the Borrower within 30 days (x) after written demand therefor, in
the case of any indemnification obligations and (y) in the case of reimbursement of costs and expenses, after receipt by the
Borrower of an invoice setting forth such costs and expenses in reasonable detail, together with customary backup documentation
supporting the relevant reimbursement request. This Section 9.03(b) shall not apply to Taxes other than any Taxes that represent
losses, claims, damages or liabilities in respect of a non-Tax claim.

 

(c)          The
Borrower shall not be liable for any settlement of any proceeding effected without its written consent (which consent shall not
be unreasonably withheld or delayed), but if any proceeding is settled with the written consent of the Borrower, or if there is
a final judgment against any Indemnitee in any such proceeding, the Borrower agrees to indemnify and hold harmless each Indemnitee
to the extent and in the manner set forth above. No Borrower shall, without the prior written consent of the affected Indemnitee
(which consent shall not be unreasonably withheld or delayed), effect any settlement of any pending or threatened proceeding in
respect of which indemnity could have been sought hereunder by such Indemnitee unless (i) such settlement includes an unconditional
release of such Indemnitee from all liability or claims that are the subject matter of such proceeding and (ii) such settlement
does not include any statement as to any admission of fault or culpability.

 

Section 9.04         Waiver
of Claim. To the extent permitted by applicable Requirements of Law, no party to this Agreement shall assert, and each hereby
waives, any claim against any other party hereto, any Loan Party and/or any Related Party of any thereof, on any theory of liability,
for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection
with, or as a result of, this Agreement or any agreement or instrument contemplated hereby, the Transactions, any Loan or the use
of the proceeds thereof, except, in the case of any claim by any Indemnitee against the Borrower, to the extent such damages would
otherwise be subject to indemnification pursuant to the terms of Section 9.03.

 

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Section 9.05          Successors
and Assigns.

 

(a)          The
provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors
and permitted assigns; provided that (i) except as provided under Section 6.07, the Borrower may not assign
or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Lender (and any attempted
assignment or transfer by the Borrower without such consent shall be null and void) and (ii) no Lender may assign or otherwise
transfer its rights or obligations hereunder except in accordance with the terms of this Section 9.05 (any attempted assignment
or transfer not complying with the terms of this Section 9.05 shall be null and void except as otherwise provided herein).
Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their
respective successors and permitted assigns, to the extent provided in paragraph (e) of this Section, Participants and,
to the extent expressly contemplated hereby, the Related Parties of each of the Arrangers, the Administrative Agent and the Lenders)
any legal or equitable right, remedy or claim under or by reason of this Agreement.

 

(b)          (i)
Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may assign to one or more Eligible Assignees
all or a portion of its rights and obligations under this Agreement (including all or a portion of any Loan or Additional Term
Loan Commitment added pursuant to Sections 2.19, 2.20 or 9.02(c) at the time owing to it) with the prior written
consent of:

 

(A)         the
Borrower (such consent not to be unreasonably withheld); provided, that the Borrower shall be deemed to have consented
to any such assignment unless it has objected thereto by written notice to the Administrative Agent within 10 Business Days after
receipt of written notice thereof provided, further, that the Borrower’s consent shall not be required for any assignment
(1) to any Term Lender or any Affiliate of any Term Lender or an Approved Fund or (2) at any time when an Event of Default under
Section 7.01(a), (f) or (g) (in each case, with respect to the Borrower) exists; and

 

(B)         the
Administrative Agent (not to be unreasonably withheld or delayed); provided, that no consent of the Administrative Agent
shall be required for any assignment to another Lender, any Affiliate of a Lender, an Arranger, any Affiliate of an Arranger, or
any Approved Fund.

 

(ii)            Assignments
shall be subject to the following additional conditions:

 

(A)         except
in the case of any assignment to another Lender, any Affiliate of any Lender or any Approved Fund or any assignment of the entire
remaining amount of the relevant assigning Lender’s Loans or Commitments of any Class, the principal amount of Loans or Commitments
of the assigning Lender subject to the relevant assignment (determined as of the date on which the Assignment and Assumption with
respect to such assignment is delivered to the Administrative Agent and determined on an aggregate basis in the event of concurrent
assignments to Related Funds or by Related Funds) shall not be less than $1,000,000, unless the Borrower and the Administrative
Agent otherwise consent;

 

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(B)         any
partial assignment shall be made as an assignment of a proportionate part of all the relevant assigning Lender’s rights and
obligations under this Agreement;

 

(C)         the
parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption via an electronic
settlement system acceptable to the Administrative Agent (or, if previously agreed with the Administrative Agent, manually), and
shall pay to the Administrative Agent a processing and recordation fee of $3,500 (which fee may be waived or reduced in the sole
discretion of the Administrative Agent); and

 

(D)         the
relevant Eligible Assignee, if it is not a Lender, shall deliver on or prior to the effective date of such assignment, to the Administrative
Agent (1) an Administrative Questionnaire and (2) any Internal Revenue Service form or other document required under
Section 2.14.

 

(iii)          Subject
to the acceptance and recording thereof pursuant to paragraph (b)(iv) of this Section, from and after the effective date
specified in any Assignment and Assumption, the Eligible Assignee thereunder shall be a party hereto and, to the extent of the
interest assigned pursuant to such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement,
and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released
from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s
rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be (A) entitled
to the benefits of Sections 2.12, 2.13, 2.14 and 9.03 with respect to facts and circumstances occurring
on or prior to the effective date of such assignment and (B) subject to its obligations thereunder and under Section 9.13).
If any assignment by any Lender holding any Promissory Note is made after the issuance of such Promissory Note, the assigning Lender
shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender such Promissory Note to the
Administrative Agent for cancellation, and, following such cancellation, if requested by either the assignee or the assigning Lender,
the Borrower shall issue and deliver a new Promissory Note to such assignee and/or to such assigning Lender, with appropriate insertions,
to reflect the new commitments and/or outstanding Loans of the assignee and/or the assigning Lender.

 

(iv)          The
Administrative Agent, acting solely for this purpose as a non-fiduciary agent of the Borrower, shall maintain at one of its offices
a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders
and their respective successors and assigns, and the commitment of, and principal amount of and interest on the Loans owing to,
each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall
be conclusive, absent manifest error, and the Borrower, the Administrative Agent and the Lenders may treat each Person whose name
is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding
notice to the contrary. The Register shall be available for inspection by the Borrower and each Lender (but only as to its own
holdings), at any reasonable time and from time to time upon reasonable prior notice.

 

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(v)           Upon
its receipt of a duly completed Assignment and Assumption executed by an assigning Lender and an Eligible Assignee, the Eligible
Assignee’s completed Administrative Questionnaire and any tax certification required by Section 9.05(b)(ii)(D)(2)
(unless the assignee is already a Lender hereunder), the processing and recordation fee referred to in paragraph (b) of
this Section, if applicable, and any written consent to the relevant assignment required by paragraph (b) of this Section,
the Administrative Agent shall promptly accept such Assignment and Assumption and record the information contained therein in
the Register. No assignment shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided
in this paragraph.

 

(vi)          By
executing and delivering an Assignment and Assumption, the assigning Lender and the Eligible Assignee thereunder shall be deemed
to confirm and agree with each other and the other parties hereto as follows: (A) the assigning Lender warrants that it is the
legal and beneficial owner of the interest being assigned thereby free and clear of any adverse claim and that the amount of its
commitments, and the outstanding balances of its Loans, in each case without giving effect to any assignment thereof which has
not become effective, are as set forth in such Assignment and Assumption, (B) except as set forth in clause (A) above, the
assigning Lender makes no representation or warranty and assumes no responsibility with respect to any statement, warranty or representation
made in or in connection with this Agreement, or the execution, legality, validity, enforceability, genuineness, sufficiency or
value of this Agreement, any other Loan Document or any other instrument or document furnished pursuant hereto, or the financial
condition of the Borrower or any Restricted Subsidiary or the performance or observance by the Borrower or any Restricted Subsidiary
of any of its obligations under this Agreement, any other Loan Document or any other instrument or document furnished pursuant
hereto; (C) such assignee represents and warrants that it is an Eligible Assignee, legally authorized to enter into such Assignment
and Assumption; (D) the assignee confirms that it has received a copy of this Agreement and the Intercreditor Agreement, together
with copies of the most recent financial statements referred to in Section 4.01(c) or the most recent financial statements
delivered pursuant to Section 5.01 and such other documents and information as it has deemed appropriate to make its own
credit analysis and decision to enter into such Assignment and Assumption; (E) the assignee will independently and without reliance
upon the Administrative Agent, the assigning Lender or any other Lender and based on such documents and information as it deems
appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Agreement; (F) the
assignee appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers
under this Agreement as are delegated to the Administrative Agent, by the terms hereof, together with such powers as are reasonably
incidental thereto; and (G) the assignee agrees that it will perform in accordance with their terms all the obligations which by
the terms of this Agreement are required to be performed by it as a Lender.

 

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(c)          (i)
Any Lender may, without the consent of the Borrower, the Administrative Agent or any other Lender, sell participations to any bank
or other entity (other than to any Disqualified Institution, any natural Person (or a holding company, investment vehicle or trust
for, or owned and operated for the primary benefit of, a natural Person) as if the limitation applied to such participations),
the Borrower or any of its Affiliates) (a “Participant”) in all or a portion of such Lender’s rights and
obligations under this Agreement (including all or a portion of its commitments and the Loans owing to it); provided that
(A) such Lender’s obligations under this Agreement shall remain unchanged, (B) such Lender shall remain solely responsible
to the other parties hereto for the performance of such obligations and (C) the Borrower, the Administrative Agent and the other
Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations
under this Agreement. Any agreement or instrument pursuant to which any Lender sells such a participation shall provide that such
Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision
of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent
of the relevant Participant, agree to any amendment, modification or waiver described in (x) clause (A) of the first
proviso to Section 9.02(b) that directly and adversely affects the Loans or commitments in which such Participant has an
interest and (y) clauses (B)(1), (2) or (3) of the first proviso to Section 9.02(b). Subject to
paragraph (c)(ii) of this Section, the Borrower agrees that each Participant shall be entitled to the benefits of Sections
2.12, 2.13 and 2.14 (subject to the limitations and requirements of such Sections and Section 2.16) to
the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section
(it being understood that the documentation required under Section 2.14(f) shall be delivered to the participating Lender).
To the extent permitted by applicable Requirements of Law, each Participant also shall be entitled to the benefits of Section
9.09 as though it were a Lender; provided that such Participant shall be subject to Section 2.15(c) as though
it were a Lender.

 

(ii)             No
Participant shall be entitled to receive any greater payment under Section 2.12, 2.13 or 2.14 than the participating
Lender would have been entitled to receive with respect to the participation sold to such Participant, except to the extent such
entitlement to receive a greater payment results from a Change in Law that occurs after such Participant acquired the applicable
participation.

 

(iii)            Each
Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register
on which it enters the name and address of each Participant and their respective successors and registered assigns, and the principal
and interest amounts of each Participant’s interest in the Loans or other obligations under the Loan Documents (a “Participant
Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register
(including the identity of any Participant or any information relating to a Participant’s interest in any commitments, loans,
letters of credit or its other obligations under any Loan Document) to any Person except to the extent that such disclosure is
necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c)
of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and
each Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all
purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in
its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register.

 

(d)          Any
Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement (other than
to any Disqualified Institution or any natural Person, or a holding company, investment vehicle or trust for, or owned and operated
for the primary benefit of, a natural Person) to secure obligations of such Lender, including without limitation any pledge or
assignment to secure obligations to any Federal Reserve Bank or other central bank having jurisdiction over such Lender, and this
Section 9.05 shall not apply to any such pledge or assignment of a security interest; provided that no such pledge
or assignment of a security interest shall release any Lender from any of its obligations hereunder or substitute any such pledgee
or assignee for such Lender as a party hereto.

 

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(e)          Notwithstanding
anything to the contrary contained herein, any Lender (a “Granting Lender”) may grant to a special purpose funding
vehicle (an “SPC”), identified as such in writing from time to time by the Granting Lender to the Administrative
Agent and the Borrower, the option to provide to the Borrower all or any part of any Loan that such Granting Lender would otherwise
be obligated to make to the Borrower pursuant to this Agreement; provided that (i) nothing herein shall constitute
a commitment by any SPC to make any Loan, (ii) if an SPC elects not to exercise such option or otherwise fails to provide
all or any part of such Loan, the Granting Lender shall be obligated to make such Loan pursuant to the terms hereof and (iii) in
no event may any Lender grant any option to provide the Borrower all or any part of any Loan that such Granting Lender would have
otherwise been obligated to make to the Borrower pursuant to this Agreement to any Disqualified Institution. The making of any
Loan by an SPC hereunder shall utilize the Commitment of the Granting Lender to the same extent, and as if, such Loan were made
by such Granting Lender. Each party hereto hereby agrees that (i) neither the grant to any SPC nor the exercise by any SPC
of such option shall increase the costs or expenses or otherwise increase or change the obligations of the Borrower under this
Agreement (including its obligations under Section 2.12, 2.13 or 2.14) and no SPC shall be entitled to any
greater amount under Section 2.10, 2.13 or 2.14 or any other provision of this Agreement or any other Loan
Document that the Granting Lender would have been entitled to receive, (ii) no SPC shall be liable for any indemnity or similar
payment obligation under this Agreement (all liability for which shall remain with the Granting Lender) and (iii) the Granting
Lender shall for all purposes including approval of any amendment, waiver or other modification of any provision of the Loan Documents,
remain the Lender of record hereunder. In furtherance of the foregoing, each party hereto hereby agrees (which agreement shall
survive the termination of this Agreement) that, prior to the date that is one year and one day after the payment in full of all
outstanding commercial paper or other senior indebtedness of any SPC, it will not institute against, or join any other Person in
instituting against, such SPC any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings under the Requirements
of Law of the U.S. or any State thereof; provided that (i) such SPC’s Granting Lender is in compliance in all
material respects with its obligations to the Borrower hereunder and (ii) each Lender designating any SPC hereby agrees to
indemnify, save and hold harmless each other party hereto for any loss, cost, damage or expense arising out of its inability to
institute such a proceeding against such SPC during such period of forbearance. In addition, notwithstanding anything to the contrary
contained in this Section 9.05, any SPC may (i) with notice to, but without the prior written consent of, the Borrower
or the Administrative Agent and without paying any processing fee therefor, assign all or a portion of its interests in any Loan
to the Granting Lender and (ii) disclose on a confidential basis any non-public information relating to its Loans to any rating
agency, commercial paper dealer or provider of any surety, guaranty or credit or liquidity enhancement to such SPC.

 

(f)           (i)            Upon
the request of any Lender, the Borrower shall make available to such Lender the list of Disqualified Institutions (other than Affiliates
identifiable solely on the basis of their name referred to in the definition of “Disqualified Institutions”) at the
relevant time and such Lender may provide the list to any potential assignee or participant on a confidential basis in accordance
with Section 9.13 hereof for the sole purpose of verifying whether such Person is a Disqualified Institution.

 

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(ii)            If
any assignment or participation under this Section 9.05 is made to any Disqualified Institution without the Borrower’s
prior written consent (any such person, a “Disqualified Person”), then, such assignment or participation shall not
be null and void, but the Borrower may, at its sole expense and effort, upon notice to the applicable Disqualified Person and the
Administrative Agent, (A) terminate any Commitment of such Disqualified Person and repay all obligations of the Borrower owing
to such Disqualified Person, (B) in the case of any outstanding Term Loans, held by such Disqualified Person, purchase such Term
Loans by paying the lesser of (x) par and (y) the amount that such Disqualified Person paid to acquire such Term Loans, plus
accrued interest thereon, accrued fees and all other amounts payable to it hereunder and/or (C) require such Disqualified
Person to assign, without recourse (in accordance with and subject to the restrictions contained in this Section 9.05),
all of its interests, rights and obligations under this Agreement to one or more Eligible Assignees; provided, that (I)
in the case of clause (B), the applicable Disqualified Person has received payment of an amount equal to the lesser of (1)
par and (2) the amount that such Disqualified Person paid for the applicable Loans, plus accrued interest thereon,
accrued fees and all other amounts payable to it hereunder, from the Borrower, (II) in the case of clauses (A) and (B),
the Borrower shall be liable to the relevant Disqualified Person under Section 2.13 if any Eurocurrency Rate Loan owing
to such Disqualified Person is repaid or purchased other than on the last day of the Interest Period relating thereto and (III)
in the case of clause (C), the relevant assignment shall otherwise comply with this Section 9.05 (except that no
registration and processing fee required under this Section 9.05 shall be required with any assignment pursuant to this
paragraph). Nothing in this Section 9.05(f) shall be deemed to prejudice any right or remedy that Holdings, Intermediate
Holdings or the Borrower may otherwise have at law or equity.

 

(iii)           Notwithstanding
anything to the contrary contained in this Agreement, Disqualified Persons (A) will not (x) have the right to receive information,
reports or other materials provided to Lenders by the Borrower, the Administrative Agent or any other Lender, (y) attend or participate
in meetings attended by the Lenders and the Administrative Agent, or (z) access any electronic site established for the Lenders
or confidential communications from counsel to or financial advisors of the Administrative Agent or the Lenders and (B) (x)
for purposes of any consent to any amendment, waiver or modification of, or any action under, and for the purpose of any direction
to the Administrative Agent or any Lender to undertake any action (or refrain from taking any action) under this Agreement or any
other Loan Document, each Disqualified Institution will be deemed to have consented in the same proportion as the Lenders that
are not Disqualified Institutions consented to such matter, and (y) for purposes of voting on any Bankruptcy Plan, each Disqualified
Institution party hereto hereby agrees (1) not to vote on such Bankruptcy Plan, (2) if such Disqualified Institution does vote
on such Bankruptcy Plan notwithstanding the restriction in the foregoing clause (1), such vote will be deemed not to be
in good faith and shall be “designated” pursuant to Section 1126(e) of the Bankruptcy Code (or any similar provision
in any other Debtor Relief Laws), and such vote shall not be counted in determining whether the applicable class has accepted or
rejected such Bankruptcy Plan in accordance with Section 1126(c) of the Bankruptcy Code (or any similar provision in any other
Debtor Relief Laws) and (3) not to contest any request by any party for a determination by the Bankruptcy Court (or other applicable
court of competent jurisdiction) effectuating the foregoing clause (2).

 

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(g)          Notwithstanding
anything to the contrary contained herein, any Lender may, at any time, assign all or a portion of its rights and obligations under
this Agreement in respect of its Term Loans to any Affiliated Lender, Holdings, Intermediate Holdings, the Borrower or any Subsidiary
of the Borrower on a non-pro rata basis (A) through Dutch Auctions open to all Lenders holding the relevant Term Loans on a pro
rata basis or (B) through open market purchases, in each case with respect to clauses (A) and (B), without the
consent of the Administrative Agent; provided that:

 

(i)            any
Term Loans acquired by Holdings, Intermediate Holdings, the Borrower or any of its subsidiaries shall be retired and cancelled
immediately upon the acquisition thereof; provided that upon any such retirement and cancellation, the aggregate outstanding
principal amount of the Term Loans shall be deemed reduced by the full par value of the aggregate principal amount of the Term
Loans so retired and cancelled, and each principal repayment installment with respect to the Term Loans pursuant to Section
2.07(a) shall be reduced on a pro rata basis by the full par value of the aggregate principal amount of Term Loans so cancelled;

 

(ii)           any
Term Loans acquired by any Affiliated Lender may (but shall not be required to) be contributed to the Borrower or any of its subsidiaries
(it being understood that any such Term Loans shall be retired and cancelled immediately upon such contribution); provided
that upon any such cancellation, the aggregate outstanding principal amount of the Term Loans shall be deemed reduced, as of the
date of such contribution, by the full par value of the aggregate principal amount of the Term Loans so contributed and cancelled,
and each principal repayment installment with respect to the Term Loans pursuant to Section 2.07(a) shall be reduced pro
rata by the full par value of the aggregate principal amount of Term Loans so contributed and cancelled;

 

(iii)          the
relevant Affiliated Lender, Holdings, Intermediate Holdings, the Borrower or applicable subsidiary (as applicable) and assigning
Lender shall have executed and delivered an Affiliated Lender Assignment and Assumption;

 

(iv)          after
giving effect to the relevant assignment and to all other assignments to all Affiliated Lenders, the aggregate principal amount
of all Term Loans then held by all Affiliated Lenders shall not exceed 25% of the aggregate principal amount of the Term Loans
then outstanding (after giving effect to any substantially simultaneous cancellations thereof) (the “Affiliated Lender
Cap”); provided that each party hereto acknowledges and agrees that the Administrative Agent shall not be liable
for any losses, damages, penalties, claims, demands, actions, judgments, suits, costs, expenses and disbursements of any kind or
nature whatsoever incurred or suffered by any Person in connection with any compliance or non-compliance with this clause (g)(iv)
or any purported assignment exceeding the Affiliated Lender Cap (it being understood and agreed that the Affiliated Lender Cap
is intended to apply to any Loans made available to Affiliated Lenders by means other than formal assignment (e.g., as a result
of an acquisition of another Lender by any Affiliated Lender or the provision of Additional Term Loans by any Affiliated Lender);
provided, further, that to the extent that any assignment to any Affiliated Lender would result in the aggregate
principal amount of Term Loans held by Affiliated Lenders exceeding the Affiliated Lender Cap (after giving effect to any substantially
simultaneous cancellations thereof), the assignment of the relevant excess amount shall be null and void;

 

(v)            in
connection with any assignment effected pursuant to a Dutch Auction and/or open market purchase conducted by Holdings, Intermediate
Holdings, the Borrower or any of its subsidiaries, no Event of Default shall exist at the time of acceptance of bids for the Dutch
Auction or the confirmation of such open market purchase, as applicable;

 

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(vi)          by
its acquisition of Term Loans, each relevant Affiliated Lender shall be deemed to have acknowledged and agreed that:

 

(A)         the
Term Loans held by such Affiliated Lender shall be disregarded in both the numerator and denominator in the calculation of any
Required Lender or other Lender vote (and the Term Loans held by such Affiliated Lender shall be deemed to be voted pro rata along
with the other Lenders that are not Affiliated Lenders); provided that (x) such Affiliated Lender shall have the right to
vote (and the Term Loans held by such Affiliated Lender shall not be so disregarded) with respect to any amendment, modification,
waiver, consent or other action that requires the vote of all Lenders or all Lenders directly and adversely affected thereby, as
the case may be, and (y) no amendment, modification, waiver, consent or other action shall (1) disproportionately affect such Affiliated
Lender in its capacity as a Lender as compared to other Lenders of the same Class that are not Affiliated Lenders or (2) deprive
any Affiliated Lender of its share of any payments which the Lenders are entitled to share on a pro rata basis hereunder, in each
case without the consent of such Affiliated Lender; and

 

(B)         such
Affiliated Lender, solely in its capacity as an Affiliated Lender, will not be entitled to (i) attend (including by telephone)
or participate in any meeting or discussion (or portion thereof) among the Administrative Agent or any Lender or among Lenders
to which the Loan Parties or their representatives are not invited or (ii) receive any information or material prepared by
the Administrative Agent or any Lender or any communication by or among the Administrative Agent and one or more Lenders, except
to the extent such information or materials have been made available by the Administrative Agent or any Lender to any Loan Party
or its representatives (and in any case, other than the right to receive notices of Borrowings, prepayments and other administrative
notices in respect of its Term Loans required to be delivered to Lenders pursuant to Article 2);

 

(vii)         no
Affiliated Lender shall be required to represent or warrant that it is not in possession of MNPI with respect to Holdings, Intermediate
Holdings, the Borrower and/or its subsidiaries and/or their respective securities in connection with any assignment permitted by
this Section 9.05(g);

 

(viii)        (A)
For the purpose of voting on any plan of reorganization or plan of liquidation pursuant to any Debtor Relief Laws (a “Bankruptcy
Plan”), each Affiliated Lender hereby agrees (x) not to vote on such Bankruptcy Plan, (y) if such Affiliated Lender does
vote on such Bankruptcy Plan notwithstanding the restriction in the foregoing clause (x), such vote will be deemed not to
be in good faith and shall be “designated” pursuant to Section 1126(e) of the Bankruptcy Code (or any similar provision
in any other Debtor Relief Laws), and such vote shall not be counted in determining whether the applicable class has accepted or
rejected such Bankruptcy Plan in accordance with Section 1126(e) of the Bankruptcy Code (or any similar provision in any other
Debtor Relief Laws) and (z) not to contest any request by any party for a determination by the Bankruptcy Court (or other applicable
court of competent jurisdiction) effectuating the foregoing clause (y), in each case under this clause (viii)(A)
unless such Bankruptcy Plan adversely affects such Affiliated Lender more than other Term Lenders in any material respect and (B)
each Affiliated Lender hereby irrevocably appoints the Administrative Agent (such appointment being coupled with an interest) as
such Affiliated Lender and in the name of such Affiliated Lender (solely in respect of Loans therein and not in respect of any
other claim or status such Affiliated Lender may otherwise have), from time to time in the Administrative Agent’s discretion
to take any action and to execute any instrument that the Administrative Agent may deem reasonably necessary or appropriate to
carry out the provisions of this clause (viii), including to ensure that any vote of such Affiliated Lender on any Bankruptcy
Plan is withdrawn or otherwise not counted.

 

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(h)          For
the avoidance of doubt, the foregoing limitations shall not be applicable to Debt Fund Affiliates; provided that (i) in
connection with any amendment, modification, waiver or other action requiring the consent or approval of Required Lenders, Lenders
that are Debt Fund Affiliates shall not be permitted, in the aggregate, to account for more than 49.9% of the amounts actually
included in determining whether the threshold in the definition of Required Lenders has been satisfied, and the voting power of
each Lender that is a Debt Fund Affiliate shall be reduced, pro rata, to the extent necessary in order to comply with this clause
(h) and (ii) any Term Loans acquired by any Debt Fund Affiliate may (but shall not be required to) be contributed to the Borrower
or any of its subsidiaries (it being understood that any such Term Loans shall be retired and cancelled immediately upon such contribution);
provided that upon any such cancellation, the aggregate outstanding principal amount of the Term Loans shall be deemed reduced,
as of the date of such contribution, by the full par value of the aggregate principal amount of the Term Loans so contributed and
cancelled, and each principal repayment installment with respect to the Term Loans pursuant to Section 2.07(a) shall be
reduced pro rata by the full par value of the aggregate principal amount of Term Loans so contributed and cancelled.

 

Section 9.06          Survival.
All covenants, agreements, representations and warranties made by the Loan Parties in the Loan Documents and in the certificates
or other instruments delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered
to have been relied upon by the other parties hereto and shall survive the execution and delivery of the Loan Documents and the
making of any Loan, regardless of any investigation made by any such other party or on its behalf and notwithstanding that the
Administrative Agent may have had notice or knowledge of any Default or Event of Default or incorrect representation or warranty
at the time any credit is extended hereunder, and shall continue in full force and effect until the Termination Date. The provisions
of Sections 2.12, 2.13 2.14, 9.03 and 9.13 and Article 8 shall survive and remain in full force
and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans, the occurrence of
the Termination Date or the termination of this Agreement or any provision hereof but in each case, subject to the limitations
set forth in this Agreement.

 

Section 9.07          Counterparts;
Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto on different counterparts),
each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement,
the other Loan Documents, the Intercreditor Agreement, the Fee Letter and any separate letter agreements with respect to fees payable
to the Administrative Agent constitute the entire agreement among the parties relating to the subject matter hereof and supersede
any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. This Agreement shall
become effective when it has been executed by Holdings, Intermediate Holdings, the Borrower and the Administrative Agent and when
the Administrative Agent has received counterparts hereof which, when taken together, bear the signatures of each of the other
parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors
and permitted assigns. Delivery of an executed counterpart of a signature page to this Agreement by facsimile or by email as a
“.pdf” or “.tif” attachment shall be effective as delivery of a manually executed counterpart
of this Agreement.

 

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Section 9.08          Severability.
To the extent permitted by applicable Requirements of Law, any provision of any Loan Document held to be invalid, illegal or unenforceable
in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability
without affecting the validity, legality and enforceability of the remaining provisions thereof; and the invalidity of a particular
provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

 

Section 9.09          Right
of Setoff. At any time when an Event of Default exists, upon the written consent of the Administrative Agent, the Administrative
Agent and each Lender is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable Requirements
of Law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and
other obligations (in any currency) at any time owing by the Administrative Agent or such Lender (including by branches and agencies
of the Administrative Agent or such Lender, wherever located) to or for the credit or the account of the Borrower or any Loan Party
against any of and all the Secured Obligations held by the Administrative Agent or such Lender, irrespective of whether or not
the Administrative Agent or such Lender shall have made any demand under the Loan Documents and although such obligations may be
contingent or unmatured or are owed to a branch or office of such Lender different than the branch or office holding such deposit
or obligation on such Indebtedness. Any applicable Lender shall promptly notify the Borrower and the Administrative Agent of such
set-off or application; provided that any failure to give or any delay in giving such notice shall not affect the validity
of any such set-off or application under this Section. The rights of each Lender and the Administrative Agent under this Section
are in addition to other rights and remedies (including other rights of setoff) which such Lender or the Administrative Agent may
have.

 

Section 9.10           Governing
Law; Jurisdiction; Consent to Service of Process.

 

(a)          THIS
AGREEMENT AND THE OTHER LOAN DOCUMENTS (OTHER THAN AS EXPRESSLY SET FORTH IN ANY OTHER LOAN DOCUMENT) AND ANY CLAIM, CONTROVERSY
OR DISPUTE ARISING UNDER OR RELATED TO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS (OTHER THAN AS EXPRESSLY SET FORTH IN ANY OTHER
LOAN DOCUMENT), WHETHER IN TORT, CONTRACT (AT LAW OR IN EQUITY) OR OTHERWISE, SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED
IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK; PROVIDED, THAT (I) THE INTERPRETATION OF THE DEFINITION OF “MATERIAL
ADVERSE EFFECT” AS DEFINED IN THE ACQUISITION AGREEMENT AND THE DETERMINATION OF WHETHER A MATERIAL ADVERSE EFFECT (AS DEFINED
IN THE ACQUISITION AGREEMENT) HAS OCCURRED, (II) THE DETERMINATION OF THE ACCURACY OF ANY SPECIFIED ACQUISITION AGREEMENT REPRESENTATION
AND WHETHER AS A RESULT OF ANY INACCURACY THEREOF MERGER SUB OR ITS APPLICABLE AFFILIATE HAS A RIGHT TO TERMINATE ITS OBLIGATIONS
UNDER THE ACQUISITION AGREEMENT OR DECLINE TO CONSUMMATE THE ACQUISITION AND (III) THE DETERMINATION OF WHETHER THE ACQUISITION
HAS BEEN CONSUMMATED IN ACCORDANCE WITH THE TERMS OF THE ACQUISITION AGREEMENT AND, IN ANY CASE, ANY CLAIM OR DISPUTE ARISING OUT
OF ANY SUCH INTERPRETATION OR DETERMINATION OR ANY ASPECT THEREOF, SHALL IN EACH CASE BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF DELAWARE, WITHOUT GIVING EFFECT TO PRINCIPLES OR RULES OF CONFLICT OF LAWS TO THE EXTENT SUCH PRINCIPLES
OR RULES WOULD REQUIRE OR PERMIT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.

 

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(b)          EACH
PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF ANY
U.S. FEDERAL OR NEW YORK STATE COURT SITTING IN THE BOROUGH OF MANHATTAN, IN THE CITY OF NEW YORK (OR ANY APPELLATE COURT THEREFROM)
OVER ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENT AND AGREES THAT ALL CLAIMS IN RESPECT OF ANY
SUCH ACTION OR PROCEEDING SHALL (EXCEPT AS PERMITTED BELOW) BE HEARD AND DETERMINED IN SUCH NEW YORK STATE OR, TO THE EXTENT PERMITTED
BY APPLICABLE REQUIREMENTS OF LAW, FEDERAL COURT. EACH PARTY HERETO AGREES THAT SERVICE OF ANY PROCESS, SUMMONS, NOTICE OR DOCUMENT
BY REGISTERED MAIL ADDRESSED TO SUCH PERSON SHALL BE EFFECTIVE SERVICE OF PROCESS AGAINST SUCH PERSON FOR ANY SUIT, ACTION OR PROCEEDING
BROUGHT IN ANY SUCH COURT; PROVIDED THAT WITH RESPECT TO ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THE
ACQUISITION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED THEREBY WHICH DOES NOT INVOLVE ANY CLAIMS AGAINST THE AGENT, THE ARRANGERS,
THE LENDERS OR ANY INDEMNIFIED PERSON, THIS SENTENCE SHALL NOT OVERRIDE ANY JURISDICTION PROVISION IN THE ACQUISITION AGREEMENT.
EACH PARTY HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT
ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY APPLICABLE REQUIREMENTS OF LAW. EACH PARTY HERETO AGREES THAT THE ADMINISTRATIVE
AGENT RETAINS THE RIGHT TO BRING PROCEEDINGS AGAINST ANY LOAN PARTY IN THE COURTS OF ANY OTHER JURISDICTION SOLELY IN CONNECTION
WITH THE EXERCISE OF ANY RIGHTS UNDER ANY COLLATERAL DOCUMENT.

 

(c)          EACH
PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT IT MAY LEGALLY AND EFFECTIVELY DO SO, ANY OBJECTION
WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS
AGREEMENT OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH (b) OF THIS SECTION. EACH PARTY HERETO HEREBY
IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY CLAIM OR DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF
SUCH ACTION, SUIT OR PROCEEDING IN ANY SUCH COURT.

 

(d)          TO
THE EXTENT PERMITTED BY APPLICABLE REQUIREMENTS OF LAW, EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF ANY AND
ALL PROCESS UPON IT AND AGREES THAT ALL SUCH SERVICE OF PROCESS MAY BE MADE BY REGISTERED MAIL (OR ANY SUBSTANTIALLY SIMILAR FORM
OF MAIL) DIRECTED TO IT AT ITS ADDRESS FOR NOTICES AS PROVIDED FOR IN SECTION 9.01. EACH PARTY HERETO HEREBY WAIVES
ANY OBJECTION TO SUCH SERVICE OF PROCESS AND FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY ACTION OR PROCEEDING
COMMENCED HEREUNDER OR UNDER ANY LOAN DOCUMENT THAT SERVICE OF PROCESS WAS INVALID AND INEFFECTIVE. NOTHING IN THIS AGREEMENT OR
ANY OTHER LOAN DOCUMENT WILL AFFECT THE RIGHT OF ANY PARTY TO THIS AGREEMENT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY
APPLICABLE REQUIREMENTS OF LAW.

    	 	163 	 

     

    

 

Section 9.11         Waiver
of Jury Trial. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE REQUIREMENTS OF LAW,
ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY SUIT, ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR ANY
OTHER THEORY) DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY OR THEREBY. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY
HERETO HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE
FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT
BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

 

Section 9.12           Headings.
Article and Section headings and the Table of Contents used herein are for convenience of reference only, are not part of this
Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement.

 

    	 	164 	 

     

    

 

Section 9.13           Confidentiality.
Each of the Administrative Agent, each Lender and each Arranger agrees (and each Lender agrees to cause its SPC, if any) to maintain
the confidentiality of the Confidential Information (as defined below), except that Confidential Information may be disclosed (a) to
its and its Affiliates’ directors (or equivalent managers), officers, employees, independent auditors or other experts and
advisors, including accountants, legal counsel and other advisors (collectively, the “Representatives”) on a
“need to know” basis solely in connection with the transactions contemplated hereby and who are informed of
the confidential nature of the Confidential Information and are or have been advised of their obligation to keep the Confidential
Information of this type confidential; provided that such Person shall be responsible for its Affiliates’ and their
Representatives’ compliance with this paragraph; provided, further, that unless the Borrower otherwise consents,
no such disclosure shall be made by the Administrative Agent, any Arranger, any Lender or any Affiliate or Representative thereof
to any Affiliate or Representative of the Administrative Agent, any Arranger or any Lender that (i) is engaged as a principal
primarily in private equity, mezzanine financing or venture capital or (ii) is a Disqualified Institution, (b) upon the
demand or request of any regulatory or governmental authority (including any self-regulatory body) purporting to have jurisdiction
over such Person or its Affiliates (in which case such Person shall, (i) except with respect to any audit or examination conducted
by bank accountants or any Governmental Authority or regulatory or self-regulatory authority exercising examination or regulatory
authority, to the extent permitted by law, inform the Borrower promptly in advance thereof and (ii) use commercially reasonable
efforts to ensure that any such information so disclosed is accorded confidential treatment), (c) to the extent compelled
by legal process in, or reasonably necessary to, the defense of such legal, judicial or administrative proceeding, in any legal,
judicial or administrative proceeding or otherwise as required by applicable Requirements of Law, rule or regulation (in which
case such Person shall (i) to the extent permitted by law, inform the Borrower promptly in advance thereof and (ii) use
commercially reasonable efforts to ensure that any such information so disclosed is accorded confidential treatment), (d) to
any other party to this Agreement, (e) subject to an acknowledgment and agreement by the relevant recipient that the Confidential
Information is being disseminated on a confidential basis (on substantially the terms set forth in this paragraph or as otherwise
reasonably acceptable to the Borrower and the Administrative Agent, including as set forth in the Information Memorandum) in accordance
with the standard syndication process of the Arrangers or market standards for dissemination of the relevant type of information,
which shall in any event require “click through” or other affirmative action on the part of the recipient to
access the Confidential Information and acknowledge its confidentiality obligations in respect thereof, to (i) any Eligible
Assignee of or Participant in, or any prospective Eligible Assignee of or prospective Participant in, any of its rights or obligations
under this Agreement, including any SPC (in each case other than a Disqualified Institution), (ii) any pledgee referred to
in Section 9.05, (iii) any actual or prospective, direct or indirect contractual counterparty (or its advisors) to
any Derivative Transaction (including any credit default swap) or similar derivative product (other than a Disqualified Institution)
relating to the Loan Parties and their obligations and (iv) subject to the Borrower’s prior approval of the information
to be disclosed (not to be unreasonably withheld), to Moody’s or S&P in connection with obtaining or maintaining ratings
as required under Section 5.13, (f) with the prior written consent of the Borrower, (g) to the extent the Confidential
Information becomes publicly available other than as a result of a breach of this Section by such Person, its Affiliates or their
respective Representatives and (h) to the CUSIP bureau, solely to the extent such Confidential Information is necessary to
obtain CUSIP numbers in respect of the Term Facility and in consultation with the Borrower. For purposes of this Section, “Confidential
Information” means all information relating to the Sponsor, Buyer, Holdings, Intermediate Holdings, the Borrower and/or
any of its subsidiaries and their respective businesses or the Transactions (including any information obtained by the Administrative
Agent, any Lender, or any Arranger, or any of their respective Affiliates or Representatives, based on a review of the books and
records relating to Holdings, Intermediate Holdings, the Borrower and/or any of its subsidiaries and their respective Affiliates
from time to time, including prior to the date hereof) other than any such information that is publicly available to the Administrative
Agent or any Arranger, or Lender on a non-confidential basis prior to disclosure by Holdings, Intermediate Holdings, the Borrower
or any of its subsidiaries. In addition, the Administrative Agent or any Arranger may disclose the existence of this Agreement
and the information consisting of the Closing Date, the identity of the Borrower, the structure, type and amount of the Term Facility
and the allotted roles to market data collectors and similar service providers to the lending industry. For the avoidance of doubt,
in no event shall any disclosure of the Confidential Information be made to any Disqualified Institution (which was a Disqualified
Institution at the time such disclosure was made).

 

    	 	165 	 

     

    

 

Section 9.14          No
Fiduciary Duty. Each of the Administrative Agent, the Arrangers, each Lender and their respective Affiliates (collectively,
solely for purposes of this paragraph, the “Lenders”), may have economic interests that conflict with those
of the Loan Parties, their stockholders and/or their respective affiliates. Each Loan Party agrees that nothing in the Loan Documents
or otherwise will be deemed to create an advisory, fiduciary or agency relationship or fiduciary or other implied duty between
any Lender, on the one hand, and such Loan Party, its respective stockholders or its respective affiliates, on the other. Each
Loan Party acknowledges and agrees that: (i) the transactions contemplated by the Loan Documents (including the exercise of
rights and remedies hereunder and thereunder) are arm’s-length commercial transactions between the Lenders, on the one hand,
and the Loan Parties, on the other, and (ii) in connection therewith and with the process leading thereto, (x) no Lender,
in its capacity as such, has assumed an advisory or fiduciary responsibility in favor of any Loan Party, its respective stockholders
or its respective affiliates with respect to the transactions contemplated hereby (or the exercise of rights or remedies with respect
thereto) or the process leading thereto (irrespective of whether any Lender has advised, is currently advising or will advise any
Loan Party, its respective stockholders or its respective Affiliates on other matters) or any other obligation to any Loan Party
except the obligations expressly set forth in the Loan Documents and (y) each Lender, in its capacity as such, is acting solely
as principal and not as the agent or fiduciary of such Loan Party, its respective management, stockholders, creditors or any other
Person. Each Loan Party acknowledges and agrees that such Loan Party has consulted its own legal, tax and financial advisors to
the extent it deemed appropriate and that it is responsible for making its own independent judgment with respect to such transactions
and the process leading thereto.

 

Section 9.15          Several
Obligations. The respective obligations of the Lenders hereunder are several and not joint and the failure of any Lender to
make any Loan or perform any of its obligations hereunder shall not relieve any other Lender from any of its obligations hereunder.

 

Section 9.16          USA
PATRIOT Act. Each Lender that is subject to the requirements of the USA PATRIOT Act hereby notifies the Loan Parties that pursuant
to the requirements of the USA PATRIOT Act, it is required to obtain, verify and record information that identifies each Loan Party,
which information includes the name and address of such Loan Party and other information that will allow such Lender to identify
such Loan Party in accordance with the USA PATRIOT Act.

 

Section 9.17          Disclosure
of Agent Conflicts. Each Loan Party and each Lender hereby acknowledge and agree that the Administrative Agent and/or its Affiliates
from time to time may hold investments in, make other loans to or have other relationships with any of the Loan Parties and their
respective Affiliates.

 

Section 9.18          Appointment
for Perfection. Each Lender hereby appoints each other Lender as its agent for the purpose of perfecting Liens for the benefit
of the Administrative Agent and the Lenders, in assets which, in accordance with Article 9 of the UCC or any other applicable law
can be perfected only by possession. If any Lender (other than the Administrative Agent) obtains possession of any Collateral,
such Lender shall notify the Administrative Agent thereof and, promptly upon the Administrative Agent’s request therefor,
shall deliver such Collateral to the Administrative Agent or otherwise deal with such Collateral in accordance with the Administrative
Agent’s instructions.

 

Section 9.19           Interest
Rate Limitation. Notwithstanding anything herein to the contrary, if at any time the interest rate applicable to any Loan,
together with all fees, charges and other amounts which are treated as interest on such Loan under applicable law (collectively
the “Charged Amounts”), shall exceed the maximum lawful rate (the “Maximum Rate”) which may
be contracted for, charged, taken, received or reserved by the Lender holding such Loan in accordance with applicable Requirements
of Law, the rate of interest payable in respect of such Loan hereunder, together with all Charged Amounts payable in respect thereof,
shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charged Amounts that would have been payable in
respect of such Loan but were not payable as a result of the operation of this Section shall be cumulated and the interest and
Charged Amounts payable to such Lender in respect of other Loans or periods shall be increased (but not above the Maximum Rate
therefor) until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to the date of repayment,
shall have been received by such Lender.

 

    	 	166 	 

     

    

 

Section 9.20          Conflicts.
Notwithstanding anything to the contrary contained herein or in any other Loan Document, in the event of any conflict or inconsistency
between this Agreement and any other Loan Document, the terms of this Agreement shall govern and control; provided that
in the case of any conflict or inconsistency between the Intercreditor Agreement and any Loan Document, the terms of the Intercreditor
Agreement shall govern and control.

 

Section 9.21          Release
of Guarantors. Notwithstanding anything in Section 9.02(b) to the contrary, (a) any Subsidiary Guarantor shall
automatically be released from its obligations hereunder (and its Loan Guaranty shall be automatically released) (i) upon
the consummation of any permitted transaction or series of related transactions if as a result thereof such Subsidiary Guarantor
ceases to be a Restricted Subsidiary (or becomes an Excluded Subsidiary (other than pursuant to clause (a) of the definition
thereof) as a result of a single transaction or series of related transactions permitted hereunder) and/or (ii) upon the occurrence
of the Termination Date. In connection with any such release, the Administrative Agent shall promptly execute and deliver to the
relevant Loan Party, at such Loan Party’s expense, all documents that such Loan Party shall reasonably request to evidence
termination or release. Any execution and delivery of any document pursuant to the preceding sentence of this Section 9.21
shall be without recourse to or warranty by the Administrative Agent (other than as to the Administrative Agent’s authority
to execute and deliver such documents).

 

Section 9.22           Intercreditor
Agreement. REFERENCE IS MADE TO THE INTERCREDITOR AGREEMENT. EACH LENDER HEREUNDER AGREES THAT IT WILL BE BOUND BY AND WILL
TAKE NO ACTIONS CONTRARY TO THE PROVISIONS OF THE INTERCREDITOR AGREEMENT AND AUTHORIZES AND INSTRUCTS THE ADMINISTRATIVE AGENT
TO ENTER INTO THE INTERCREDITOR AGREEMENT AS “TERM LOAN ADMINISTRATIVE AGENT” AND ON BEHALF OF SUCH LENDER. THE PROVISIONS
OF THIS SECTION 9.22 ARE NOT INTENDED TO SUMMARIZE ALL RELEVANT PROVISIONS OF THE INTERCREDITOR AGREEMENT, THE FORM
OF WHICH IS ATTACHED AS AN EXHIBIT TO THIS AGREEMENT. REFERENCE MUST BE MADE TO THE INTERCREDITOR AGREEMENT ITSELF TO UNDERSTAND
ALL TERMS AND CONDITIONS THEREOF. EACH LENDER IS RESPONSIBLE FOR MAKING ITS OWN ANALYSIS AND REVIEW OF THE INTERCREDITOR AGREEMENT
AND THE TERMS AND PROVISIONS THEREOF, AND NEITHER THE ADMINISTRATIVE AGENT NOR ANY OF ITS AFFILIATES MAKES ANY REPRESENTATION TO
ANY LENDER AS TO THE SUFFICIENCY OR ADVISABILITY OF THE PROVISIONS CONTAINED IN THE INTERCREDITOR AGREEMENT. THE FOREGOING PROVISIONS
ARE INTENDED AS AN INDUCEMENT TO THE LENDERS UNDER THE ABL CREDIT AGREEMENT TO EXTEND CREDIT THEREUNDER AND SUCH LENDERS ARE INTENDED
THIRD PARTY BENEFICIARIES OF SUCH PROVISIONS AND THE PROVISIONS OF THE INTERCREDITOR AGREEMENT.

 

NOTWITHSTANDING ANYTHING
TO THE CONTRARY HEREIN, THE LIENS AND SECURITY INTERESTS GRANTED TO THE ADMINISTRATIVE AGENT PURSUANT TO THE LOAN DOCUMENTS IN
ANY COLLATERAL AND THE EXERCISE OF ANY RIGHT OR REMEDY BY THE ADMINISTRATIVE AGENT WITH RESPECT TO ANY COLLATERAL ARE 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.

 

    	 	167 	 

     

    

 

Section 9.23           Acknowledgement
and Consent to Bail-In of EEA Financial Institutions. Notwithstanding anything to the contrary in this Agreement or in any
other agreement, arrangement or understanding between the parties hereto, each party hereto acknowledges that that any liability
of any EEA Financial Institution under this Agreement, to the extent such liability is unsecured, may be subject to the write-down
and conversion powers of an EEA Resolution Authority and each party hereto agrees and consents to, and acknowledges and agrees
to be bound by:

 

(a)          the
application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which
may be payable to it by any party hereto that is an EEA Financial Institution; and

 

(b)          the
effects of any Bail-in Action on any such liability, including, if applicable:

 

(i)             a
reduction in full or in part or cancellation of any such liability;

 

(ii)            a
conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial Institution,
its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or
other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement;
or

 

(iii)          the
variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of any EEA Resolution
Authority.

 

[Signature Pages Follow]

 

    	 	168 	 

     

    

 

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

 

	 	CONCRETE PUMPING HOLDINGS ACQUISITION CORP., as Holdings
	 	 	 
	 	By:	/s/ Iain Humphries
	 	 	Name:	Iain Humphries
	 	 	Title:	Chief Financial Officer

 

	 	CONCRETE PUMPING INTERMEDIATE ACQUISITION CORP., as Intermediate Holdings
	 	 
	 	By:	  /s/ Tariq Osman
	 	 	Name:	Tariq Osman
	 	 	Title:	President

 

	 	INDUSTREA ACQUISITION CORP., as Buyer
	 	 	 
	 	By:	  /s/ Tariq Osman
	 	 	Name:	Tariq Osman
	 	 	Title:	Executive Vice President
	 	 	 	 
	 	 CONCRETE PUMPING MERGER SUB INC. (which on the Closing Date shall be merged with and into the existing CONCRETE PUMPING HOLDINGS, INC., with CONCRETE PUMPING HOLDINGS, INC. as the surviving company), as the Borrower
	 	 
	 	By:	  /s/ Tariq Osman
	 	 	Name:	Tariq Osman
	 	 	Title:	President

 

[Signature Page to Project Boom Credit Agreement]

      

     

    

 

	 	
        The undersigned hereby confirms that, as a result of its merger
        with CONCRETE PUMPING MERGER SUB INC., it hereby assumes all of the rights and obligations of CONCRETE PUMPING MERGER SUB INC.
        under this Credit Agreement (which assumption is in furtherance of, and not in lieu of, its assumption or deemed assumption by
        operation of law), and hereby agrees to be joined to the Credit Agreement as the Borrower thereunder and that all references to
        the “Borrower” shall be deemed to be references to the undersigned.

         

        CONCRETE PUMPING HOLDINGS, INC.

	 	 	 
	 	By:	  /s/ Iain Humphries
	 	 	Name:	Iain Humphries
	 	 	Title:	Chief Financial Officer

 

[Signature Page to Project Boom Credit Agreement]

      

     

    

 

	 	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Administrative Agent
	 	 	 
	 	By:	  /s/ Vipul Dhadda
	 	 	Name:	Vipul Dhadda
	 	 	Title:	Authorized Signatory
	 	 	 
	 	By:	/s/Brady Bingham
	 	 	Name:	Brady Bingham
	 	 	Title:	Authorized Signatory

 

[Signature Page to Project Boom Credit Agreement]

      

     

    

 

	 	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Lender
	 	 	 
	 	By:	  /s/ Vipul Dhadda
	 	 	Name:	Vipul Dhadda
	 	 	Title:	Authorized Signatory
	 	 	 
	 	By:	/s/Brady Bingham
	 	 	Name:	Brady Bingham
	 	 	Title:	Authorized Signatory

 

[Signature Page to Project Boom Credit Agreement]Exhibit 10.30

 

EXECUTION VERSION

 

 

 

		CREDIT AGREEMENT	 
	 	 
	by and among	 
	 	 
	WELLS FARGO BANK, NATIONAL ASSOCIATION,	 
	 	 
	as Agent, Sole Lead Arranger and Sole Bookrunner	 
	 	 
	THE LENDERS THAT ARE PARTIES HERETO	 
	 	 
	as the Lenders,	 
	 	 
	wells fargo capital finance (uk) limited,	 
	as UK Security Agent,	 

 

CONCRETE PUMPING HOLDINGS ACQUISITION CORP.

(to be renamed Concrete Pumping Holdings, Inc. upon consummation

of the Concrete Pumping Acquisition),

as Holdings,

 

CONCRETE PUMPING INTERMEDIATE ACQUISITION
CORP.,

as Intermediate Holdings,

 

CONCRETE PUMPING MERGER SUB INC.

(to be merged with and into Concrete Pumping Holdings, Inc., which is to be renamed

Brundage Bone Concrete Pumping Holdings Inc.

upon consummation of the Concrete Pumping Acquisition),

BRUNDAGE-BONE CONCRETE PUMPING, INC.,

and

ECO-PAN, INC.,

as the US Borrowers,

 

and

 

CAMFAUD CONCRETE PUMPS LIMITED,

and

PREMIER CONCRETE PUMPING LIMITED,

as the UK Borrowers

 

Dated as of December 6, 2018

 

 

 

     

     

    

 

Table
of Contents

 

	 	 	 	Page
	 	 	 	 
	1.	DEFINITIONS AND CONSTRUCTION	3
	 	 	 	 
	 	1.1	Definitions	3
	 	 	 	 
	 	1.2	Accounting Terms	3
	 	 	 	 
	 	1.3	Code	4
	 	 	 	 
	 	1.4	Construction	4
	 	 	 	 
	 	1.5	Exchange Rates; Applicable Currency	4
	 	 	 	 
	 	1.6	Time References	5
	 	 	 	 
	 	1.7	Schedules and Exhibits	5
	 	 	 	 
	 	1.8	Pro Forma Calculations and Limited Condition Transactions	5
	 	 	 	 
	 	1.9	Division of Limited Liability Company	6
	 	 	 	 
	2.	LOANS AND TERMS OF PAYMENT	6
	 	 	 	 
	 	2.1	Revolving Loans	6
	 	 	 	 
	 	2.2	[Reserved]	7
	 	 	 	 
	 	2.3	Borrowing Procedures and Settlements	7
	 	 	 	 
	 	2.4	Payments; Termination of Commitments; Prepayments	15
	 	 	 	 
	 	2.5	Promise to Pay; Promissory Notes	21
	 	 	 	 
	 	2.6	Interest Rates and Letter of Credit Fee: Rates, Payments, and Calculations	22
	 	 	 	 
	 	2.7	Crediting Payments	24
	 	 	 	 
	 	2.8	Designated Account	24
	 	 	 	 
	 	2.9	Maintenance of Loan Account; Statements of Obligations	24
	 	 	 	 
	 	2.10	Fees	25
	 	 	 	 
	 	2.11	Letters of Credit	25
	 	 	 	 
	 	2.12	LIBOR Option	35
	 	 	 	 
	 	2.13	Capital Requirements	37
	 	 	 	 
	 	2.14	Joint and Several Liability of Borrowers with Respect to UK Obligations	39
	 	 	 	 
	 	2.15	Joint and Several Liability of US Borrowers with respect to Obligations	41
	 	 	 	 
	 	2.16	Incremental Revolving Commitments	44
	 	 	 	 
	 	2.17	Currencies	46
	 	 	 	 
	3.	CONDITIONS; TERM OF AGREEMENT	46
	 	 	 	 
	 	3.1	Conditions Precedent to the Initial Extension of Credit	46
	 	 	 	 
	 	3.2	Conditions Precedent to all Extensions of Credit	47
	 	 	 	 
	 	3.3	Maturity	47

 

    	 	-i-	 

     

    

 

Table
of Contents

(continued)

 

	 	 	 	Page
	 	 	 	 
	 	3.4	Effect of Maturity	47
	 	 	 	 
	 	3.5	Early Termination by Borrowers	47
	 	 	 	 
	 	3.6	Conditions Subsequent	47
	 	 	 	 
	4.	REPRESENTATIONS AND WARRANTIES	48
	 	 	 	 
	 	4.1	Organization; Powers	48
	 	 	 	 
	 	4.2	Authorization; Enforceability	48
	 	 	 	 
	 	4.3	Governmental Approvals; No Conflicts	48
	 	 	 	 
	 	4.4	Financial Condition; No Material Adverse Effect	48
	 	 	 	 
	 	4.5	Properties	49
	 	 	 	 
	 	4.6	Litigation and Environmental Matters	50
	 	 	 	 
	 	4.7	Compliance with Laws	50
	 	 	 	 
	 	4.8	Investment Company Status	50
	 	 	 	 
	 	4.9	Taxes	50
	 	 	 	 
	 	4.10	ERISA	50
	 	 	 	 
	 	4.11	Disclosure	50
	 	 	 	 
	 	4.12	Security Interest in Collateral	51
	 	 	 	 
	 	4.13	Labor Disputes	51
	 	 	 	 
	 	4.14	Federal Reserve Regulations	51
	 	 	 	 
	 	4.15	OFAC; Sanctions; Anti-Corruption Laws; Anti-Money Laundering Laws	51
	 	 	 	 
	 	4.16	Solvency	52
	 	 	 	 
	 	4.17	Capitalization and Subsidiaries	52
	 	 	 	 
	 	4.18	[Reserved]	52
	 	 	 	 
	 	4.19	Patriot Act	52
	 	 	 	 
	 	4.20	Centre of Main Interests and Establishments	52
	 	 	 	 
	 	4.21	[Reserved]	52
	 	 	 	 
	 	4.22	Eligible Accounts	53
	 	 	 	 
	 	4.23	UK Pension Plans	53
	 	 	 	 
	 	4.24	Eligible Rolling Stock Collateral	53
	 	 	 	 
	 	4.25	Location of Inventory, Equipment and Rolling Stock	54
	 	 	 	 
	 	4.26	Inventory, Equipment and Rolling Stock Records	54
	 	 	 	 
	5.	AFFIRMATIVE COVENANTS	54
	 	 	 	 
	 	5.1	Financial Statements and Other Reports	54

 

    	 	-ii-	 

     

    

 

Table
of Contents

(continued)

 

	 	 	 	Page
	 	 	 	 
	 	5.2	Reporting	57
	 	 	 	 
	 	5.3	Existence	57
	 	 	 	 
	 	5.4	Payment of Taxes	57
	 	 	 	 
	 	5.5	Maintenance of Properties	57
	 	 	 	 
	 	5.6	Insurance	58
	 	 	 	 
	 	5.7	Inspections	58
	 	 	 	 
	 	5.8	Maintenance of Book and Records	59
	 	 	 	 
	 	5.9	Compliance with Laws	59
	 	 	 	 
	 	5.10	Environmental	59
	 	 	 	 
	 	5.11	Designation of Subsidiaries	60
	 	 	 	 
	 	5.12	Covenant to Guarantee Obligations and Give Security	60
	 	 	 	 
	 	5.13	[Reserved.]	62
	 	 	 	 
	 	5.14	Further Assurances	62
	 	 	 	 
	 	5.15	[Reserved]	62
	 	 	 	 
	 	5.16	[Reserved]	62
	 	 	 	 
	 	5.17	Location of Inventory, Equipment and Rolling Stock	63
	 	 	 	 
	 	5.18	Bank Products	63
	 	 	 	 
	 	5.19	OFAC; Sanctions; Anti-Corruption Laws; Anti-Money Laundering Laws; Beneficial Ownership Regulation	63
	 	 	 	 
	 	5.20	Rolling Stock	63
	 	 	 	 
	 	5.21	People with Significant Control Regime	64
	 	 	 	 
	 	5.22	Collateral Access Agreements	64
	 	 	 	 
	 	5.23	Depreciation Policy	64
	 	 	 	 
	6.	NEGATIVE COVENANTS	64
	 	 	 	 
	 	6.1	Indebtedness	64
	 	 	 	 
	 	6.2	Liens	69
	 	 	 	 
	 	6.3	No Further Negative Pledges; Burdensome Agreements	73
	 	 	 	 
	 	6.4	Restricted Payments; Restricted Debt Payments	74
	 	 	 	 
	 	6.5	Restrictions on Subsidiary Distributions	78
	 	 	 	 
	 	6.6	Investments	79
	 	 	 	 
	 	6.7	Fundamental Changes; Disposition of Assets	81
	 	 	 	 
	 	6.8	Transactions with Affiliates	85
	 	 	 	 
	 	6.9	Amendments or Waivers of Governing Documents	87

 

    	 	-iii-	 

     

    

 

Table
of Contents

(continued)

 

	 	 	 	Page
	 	 	 	 
	 	6.10	Amendments of or Waivers with Respect to Restricted Debt	87
	 	 	 	 
	 	6.11	Permitted Activities of Holdings, Intermediate Holdings, and Buyer	85
	 	 	 	 
	 	6.12	Use of Proceeds	88
	 	 	 	 
	 	6.13	Conduct of Business	89
	 	 	 	 
	 	6.14	UK Pension Plans	89
	 	 	 	 
	 	6.15	Repayment	90
	 	 	 	 
	7.	FINANCIAL COVENANT	90
	 	 	 	 
	8.	EVENTS OF DEFAULT	90
	 	 	 	 
	 	8.1	Events of Default	90
	 	 	 	 
	9.	RIGHTS AND REMEDIES	93
	 	 	 	 
	 	9.1	Rights and Remedies	93
	 	 	 	 
	 	9.2	Remedies Cumulative	94
	 	 	 	 
	 	9.3	Curative Equity	94
	 	 	 	 
	10.	WAIVERS; INDEMNIFICATION	95
	 	 	 	 
	 	10.1	Demand; Protest; etc	95
	 	 	 	 
	 	10.2	The Lender Group’s Liability for Collateral	95
	 	 	 	 
	 	10.3	Indemnification	95
	 	 	 	 
	11.	NOTICES	96
	 	 	 	 
	12.	CHOICE OF LAW AND VENUE; JURY TRIAL WAIVER; JUDICIAL REFERENCE PROVISION	97
	 	 	 	 
	13.	ASSIGNMENTS AND PARTICIPATIONS; SUCCESSORS	100
	 	 	 	 
	 	13.1	Assignments and Participations	100
	 	 	 	 
	 	13.2	Successors	104
	 	 	 	 
	14.	AMENDMENTS; WAIVERS	104
	 	 	 	 
	 	14.1	Amendments and Waivers	104
	 	 	 	 
	 	14.2	Replacement of Certain Lenders	106
	 	 	 	 
	 	14.3	No Waivers; Cumulative Remedies	107
	 	 	 	 
	15.	AGENT; UK SECURITY AGENT; THE LENDER GROUP	107
	 	 	 	 
	 	15.1	Appointment and Authorization of Agent and UK Security Agent	107
	 	 	 	 
	 	15.2	Delegation of Duties	108
	 	 	 	 
	 	15.3	Liability of Agent	108
	 	 	 	 
	 	15.4	Reliance by Agent and UK Security Agent	109
	 	 	 	 
	 	15.5	Notice of Default or Event of Default	109

 

    	 	-iv-	 

     

    

 

Table
of Contents

(continued)

 

	 	 	 	Page
	 	 	 	 
	 	15.6	Credit Decision	110
	 	 	 	 
	 	15.7	Costs and Expenses; Indemnification	110
	 	 	 	 
	 	15.8	Agent in Individual Capacity	111
	 	 	 	 
	 	15.9	Successor Agent and Successor UK Security Agent	111
	 	 	 	 
	 	15.10	Lender in Individual Capacity	112
	 	 	 	 
	 	15.11	Collateral Matters	112
	 	 	 	 
	 	15.12	Restrictions on Actions by Lenders; Sharing of Payments	113
	 	 	 	 
	 	15.13	Agency for Perfection	114
	 	 	 	 
	 	15.14	Payments by Agent to the Lenders	114
	 	 	 	 
	 	15.15	Concerning the Collateral and Related Loan Documents	114
	 	 	 	 
	 	15.16	Field Examination Reports; Confidentiality; Disclaimers by Lenders; Other Reports and Information	114
	 	 	 	 
	 	15.17	Several Obligations; No Liability	115
	 	 	 	 
	 	15.18	UK Security Agent as security trustee for UK Security Documents	116
	 	 	 	 
	 	15.19	Arranger Provisions	119
	 	 	 	 
	16.	TAXES	119
	 	 	 	 
	 	16.1	Payments	119
	 	 	 	 
	 	16.2	Exemptions	119
	 	 	 	 
	 	16.3	Reductions	121
	 	 	 	 
	 	16.4	Refunds	122
	 	 	 	 
	 	16.5	United Kingdom Tax Matters	122
	 	 	 	 
	17.	GENERAL PROVISIONS	127
	 	 	 	 
	 	17.1	Effectiveness	127
	 	 	 	 
	 	17.2	Section Headings	127
	 	 	 	 
	 	17.3	Interpretation	127
	 	 	 	 
	 	17.4	Severability of Provisions	128
	 	 	 	 
	 	17.5	Bank Product Providers	128
	 	 	 	 
	 	17.6	Debtor-Creditor Relationship	128
	 	 	 	 
	 	17.7	Counterparts; Electronic Execution	129
	 	 	 	 
	 	17.8	Revival and Reinstatement of Obligations	129
	 	 	 	 
	 	17.9	Confidentiality	129
	 	 	 	 
	 	17.10	Survival	131
	 	 	 	 
	 	17.11	Patriot Act	131

 

    	 	-v-	 

     

    

 

Table
of Contents

(continued)

 

	 	 	 	Page
	 	 	 	 
	 	17.12	Judgment Currency	131
	 	 	 	 
	 	17.13	Integration	132
	 	 	 	 
	 	17.14	Administrative Borrowers	132
	 	 	 	 
	 	17.15	Intercreditor Agreement	133
	 	 	 	 
	 	17.16	Acknowledgement and Consent to Bail-In of EEA Financial Institutions	133
	 	 	 	 
	 	17.17	UK “Know your customer” checks	134
	 	 	 	 
	 	17.18	[Reserved]	134
	 	 	 	 
	 	17.19	Process Agent	135
	 	 	 	 
	 	17.20	Assignment and Delegation to and Assumption	135

 

    	 	-vi-	 

     

    

 

EXHIBITS AND SCHEDULES

 

	Exhibit A-1	 	Form of Assignment and Acceptance
	Exhibit B-1	 	Form of Borrowing Base Certificate
	Exhibit B-2	 	Form of Joinder Agreement
	Exhibit C-1	 	Form of Compliance Certificate
	Exhibit L-1	 	Form of LIBOR Notice
	Exhibit P-1	 	Form of Perfection Certificate
	Exhibit S-1	 	Form of Solvency Certificate
	 	 	 
	Schedule A-1	 	Agent’s Account
	Schedule A-2	 	Authorized Persons
	Schedule C-1	 	Commitments
	Schedule D-1	 	Designated Account
	Schedule E-1	 	Existing Letters of Credit
	Schedule 1.1	 	Definitions
	Schedule 3.1	 	Conditions Precedent
	Schedule 3.6	 	Conditions Subsequent
	Schedule 4.5(a)	 	Material Real Property
	Schedule 4.17	 	Capitalization and Subsidiaries
	Schedule 4.25	 	Location of Inventory, Equipment and Rolling Stock
	Schedule 5.2	 	Collateral Reporting
	Schedule 5.17	 	Location of Chief Executive Offices
	Schedule 6.1	 	Existing Indebtedness
	Schedule 6.2	 	Existing Liens
	Schedule 6.6	 	Existing Investments
	Schedule 6.7(v)	 	Contemplated Dispositions
	Schedule 6.8	 	Transactions with Affiliates

 

    	 	-vii-	 

     

    

 

CREDIT AGREEMENT

 

THIS CREDIT AGREEMENT
(this “Agreement”), is entered into as of December 6, 2018, by and among the lenders identified on the signature
pages hereof (each of such lenders, together with its successors and permitted assigns, is referred to hereinafter as a “Lender”,
as that term is hereinafter further defined), WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as
administrative agent for each member of the Lender Group and the Bank Product Providers (in such capacity, together with its successors
and assigns in such capacity, “Agent”) and as sole lead arranger and sole bookrunner (the “Lead Arranger”),
WELLS FARGO CAPITAL FINANCE (UK) LIMITED, a private limited company incorporated and registered under the laws of England
a Wales with company numbers 02656007, as security agent and trustee for the Secured Parties (as defined below) (in such capacity,
together with its successors and assigns in such capacity, “UK Security Agent”) CONCRETE PUMPING HOLDINGS
ACQUISITION CORP. (to be renamed Concrete Pumping Holdings, Inc. upon consummation of the Concrete Pumping Acquisition (as
defined below), a Delaware corporation (“Holdings”), CONCRETE PUMPING INTERMEDIATE ACQUISITION CORP.,
a Delaware corporation (“Intermediate Holdings”), CONCRETE PUMPING MERGER SUB INC., a Delaware corporation
(“Concrete Merger Sub”), which upon the consummation of the Concrete Pumping Acquisition will be merged with
and into the existing CONCRETE PUMPING HOLDINGS, INC., a Delaware corporation (which is to be renamed Brundage Bone Concrete
Pumping Holdings Inc. upon consummation of the Concrete Pumping Acquisition) (the “Target”); BRUNDAGE-BONE
CONCRETE PUMPING INC., a Colorado corporation (“Brundage Pumping”), and ECO-PAN, INC., a Colorado
corporation (“Eco-Pan US”; and together with Concrete Merger Sub, the Target, Brundage Pumping and each other
Person that from time to time that becomes party hereto as a US Borrower in accordance with the terms hereof by executing the form
of Joinder Agreement attached hereto as Exhibit B-2, are referred to hereinafter each individually as a “US Borrower”,
and individually and collectively, jointly and severally, as the “US Borrowers”), CAMFAUD CONCRETE PUMPS
LIMITED, a private limited company incorporated and registered under the laws of England and Wales with Company Number 02635232
(“Camfaud Concrete”) and PREMIER CONCRETE PUMPING LIMITED, a private limited company incorporated and
registered under the laws of England and Wales with Company Number 01714938 (“Premier Concrete”, and together
Camfaud Concrete, and each other Person that from time to time that becomes party hereto as a UK Borrower in accordance with the
terms hereof by executing the form of Joinder Agreement attached hereto as Exhibit B-2, are referred to hereinafter each
individually as a “UK Borrower”, and individually and collectively, jointly and severally, as the “UK
Borrowers; the US Borrowers and the UK Borrowers are hereinafter referred to each individually as a “Borrower”
and individually and collectively as the “Borrowers”).

 

RECITALS

 

WHEREAS, Holdings was
organized by Industrea Acquisition Corp., a Delaware corporation (the “Buyer”) to acquire (the “Concrete
Pumping Acquisition”) the Target pursuant to the terms of that certain Agreement and Plan of Merger, dated as of September
7, 2018 (as the same may be amended, supplemented or modified to the extent permitted by this Agreement, the “Concrete
Pumping Acquisition Agreement”) by and among Holdings, the Buyer, Intermediate Holdings, Concrete Merger Sub, Industrea
Acquisition Merger Sub Inc., a Delaware corporate and a wholly owned subsidiary of the Buyer;

 

WHEREAS, pursuant to
the terms of the Concrete Pumping Acquisition Agreement, upon the consummation of the Concrete Pumping Acquisition, Concrete Merger
Sub will merge (the “Merger”) with and into the Target with the Target being the survivor;

 

     

     

    

 

WHEREAS, the Concrete
Pumping Acquisition shall be consummated contemporaneously with the execution and delivery of this Agreement, and Concrete Merger
Sub shall be a US Borrower under this Agreement on the date hereof with the Target, Brundage and Eco-Pan US being US Borrowers
hereunder immediately after the consummation of the Concrete Pumping Acquisition, and Camfaud Concrete and Premier Concrete being
the UK Borrowers immediately after the consummation of the Concrete Pumping Acquisition;

 

WHEREAS, in connection
with the Concrete Pumping Acquisition, Holdings will enter into one or more subscription agreements with certain institutional
and accredited investors and other investors identified to the Lead Arranger in writing prior to the Closing Date (collectively,
the “Closing Date Investors”) and consummate the transactions on the Closing Date (as defined below) (including
“private investment in public equity” transactions and transactions that “backstop” redemptions by the
Buyer’s shareholders), pursuant to which the Closing Date Investors will purchase Equity Interests (other than Disqualified
Equity Interests) in the form of common stock or convertible preferred or other equity (which such convertible preferred or other
equity shall be reasonably satisfactory to Agent; provided, it is agreed that the preferred equity contemplated to be issued
by Holdings to one or more funds and accounts of Nuveen Alternative Advisors, LLC (“Nuveen”) pursuant to that
certain Subscription Agreement dated as of September 7, 2018 by and among, inter alia, Nuveen and Holdings and the related term
sheet as in effect on September 7, 2018 pursuant to which Nuveen shall make an equity contribution to Holdings in the amount of
$25,000,000 (the “Closing Date Investor Equity Contribution”);

 

WHEREAS, in connection
with the Concrete Pumping Acquisition, the Sponsor (as defined below) (together with the Closing Date Investors, the Rolling Investors
(as defined below) and all other co-investors on the Closing Date, collectively, the “Investors”) will purchase
a number of Equity Interests (other than Disqualified Equity Interests) of Holding’s (in the form of common stock or convertible
preferred or other equity reasonably satisfactory to Agent) for an aggregate purchase price not less than $27,400,000 (the “Sponsor
Equity Contribution” and together with the Closing Date Investor Equity Contribution, collectively, the “Equity
Contributions”);

 

WHEREAS, the Equity Contributions
will be made in cash in an aggregate amount that, when taken together with the cash held in trust by the Buyer in the aggregate
amount of approximately $234,600,000 (less any redemptions by the Buyer’s shareholders) (the “Buyer Trust Funds”)
(it being understood and agreed that redemptions by the Buyer’s shareholders will first reduce the amount of cash transferred
to the consolidated balance sheet of Holdings on the Closing Date) and the fair market value (with fair market value deemed to
be the actual redemption price of such Equity Interests as of the Closing Date (but not less than $10.20 per share)) of the Equity
Interests of the Target’s existing direct or indirect equity holders and/or members of management (collectively, the “Rolling
Investors”) that will be retained, rolled over, converted or re-invested as Equity Interests of Holdings (other than
Disqualified Equity Interests) in the form of common stock or convertible preferred or other equity (which such convertible preferred
or other equity shall be reasonably satisfactory to Agent), if any, on the Closing Date (the “Rollover Equity”)
will constitute an aggregate amount not less than 37.5% (the “Minimum Equity Contribution Percentage”) of the
sum of (A) the gross proceeds of the term loans made under the Term Loan Facility (as defined below) made on the Closing Date,
(B) the proceeds of Loans incurred hereunder on the Closing Date used to finance a portion of the Transactions (as defined below)
(excluding, in the case of clauses (A) and (B) above, the proceeds of any term loans made under the Term Loan Facility
or Loans hereunder to fund original issue discount or any upfront fees as result of the application of the “flex” provisions
contained in the Term Loan Fee Letter (as defined below), (C) the Equity Contributions, (D) the Buyer Trust Funds, and (E) the
Rollover Equity;

 

    	 	2	 

     

    

 

WHEREAS, to effect the
Concrete Pumping Acquisition, in addition to the Equity Contributions, the Rollover Equity, and the Buyer Trust Funds, the Target
has requested that the Term Loan Lenders provide a term loan B facility in an amount equal to $357,000,000 (the “Term
Loan Facility”) to the Target, and the Term Loan Lenders, subject to the terms and conditions of the Term Loan Facility
Agreement (as defined below), have agreed to provide such Term Loan Facility; and

 

WHEREAS, the Borrowers
have further requested that the Lenders provide a revolving credit facility in an amount equal to $60,000,000 to consummate the
Transactions and for ongoing working capital and general corporate purposes, and the Lenders have agreed to provide such a revolving
credit facility and the Issuing Bank has indicated its willingness to provide a letter of credit facility (as a sub-facility of
such revolving credit facility), in each case, subject to the terms and conditions of this Agreement.

 

NOW,
THEREFORE, in consideration of the mutual agreements, provisions and covenants contained herein,
the parties hereto covenant and agree as follows:

 

1.           DEFINITIONS
AND CONSTRUCTION.

 

1.1         Definitions.
Capitalized terms used in this Agreement shall have the meanings specified therefor on Schedule 1.1.

 

1.2         Accounting
Terms.

 

(a)          All
accounting terms not specifically defined herein shall be construed in accordance with GAAP; provided, that if Borrowers
notify Agent that Borrowers request an amendment to any provision hereof to eliminate the effect of any Accounting Change occurring
after the Closing Date or in the application thereof on the operation of such provision (or if Agent notifies Borrowers that the
Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given
before or after such Accounting Change or in the application thereof, then Agent and Borrowers agree that they will negotiate in
good faith amendments to the provisions of this Agreement that are directly affected by such Accounting Change with the intent
of having the respective positions of the Lenders and Borrowers after such Accounting Change conform as nearly as possible to their
respective positions immediately before such Accounting Change took effect and, until any such amendments have been agreed upon
and agreed to by the Required Lenders, the provisions in this Agreement shall be calculated as if no such Accounting Change had
occurred. When used herein, the term “financial statements” shall include the notes and schedules thereto. Whenever
the term “Borrowers” is used in respect of the Fixed Charge Coverage Ratio or a related definition, it shall be understood
to mean Holdings and its Restricted Subsidiaries on a consolidated basis, unless the context clearly requires otherwise. Notwithstanding
anything to the contrary contained herein, (a) all financial statements delivered hereunder shall be prepared, and all financial
covenants contained herein shall be calculated, without giving effect to any election under the Statement of Financial Accounting
Standards Board’s Accounting Standards Codification Topic 825 (or any similar accounting principle) permitting a Person to
value its financial liabilities or Indebtedness at the fair value thereof, and (b) the term “unqualified opinion” as
used herein to refer to opinions or reports provided by accountants shall mean an opinion or report that is (i) unqualified, and
(ii) does not include any explanation, supplemental comment, or other comment concerning the ability of the applicable Person to
continue as a going concern or concerning the scope of the audit.

 

(b)          Notwithstanding
any changes in GAAP after the Closing Date, any lease of the Borrowers or their Subsidiaries that would be characterized as an
operating lease under GAAP in effect on the Closing Date (whether such lease is entered into before or after the Closing Date)
shall not constitute a Capital Lease under this Agreement or any other Loan Document as a result of such changes in GAAP unless
otherwise agreed to in writing by the Borrowers and Agent.

 

    	 	3	 

     

    

 

1.3           Code.
Any terms used in this Agreement that are defined in the Code shall be construed and defined as set forth in the Code unless
otherwise defined herein; provided, that to the extent that the Code is used to define any term herein and such term is
defined differently in different Articles of the Code, the definition of such term contained in Article 9 of the Code shall govern.

 

1.4           Construction.
Unless the context of this Agreement or any other Loan Document clearly requires otherwise, references to the plural include
the singular, references to the singular include the plural, the terms “includes” and “including” are not
limiting, and the term “or” has, except where otherwise indicated, the inclusive meaning represented by the phrase
“and/or.” The words “hereof,” “herein,” “hereby,” “hereunder,” and
similar terms in this Agreement or any other Loan Document refer to this Agreement or such other Loan Document, as the case may
be, as a whole and not to any particular provision of this Agreement or such other Loan Document, as the case may be. Section,
subsection, clause, schedule, and exhibit references herein are to this Agreement unless otherwise specified. Any reference in
this Agreement or in any other Loan Document to any agreement, instrument, or document shall include all alterations, amendments,
changes, extensions, modifications, renewals, replacements, substitutions, joinders, and supplements, thereto and thereof, as applicable
(subject to any restrictions on such alterations, amendments, changes, extensions, modifications, renewals, replacements, substitutions,
joinders, and supplements set forth herein). The words “asset” and “property” shall be construed to have
the same meaning and effect and to refer to any and all tangible and intangible assets and properties. Any reference herein or
in any other Loan Document to the satisfaction, repayment, or payment in full of the Obligations shall mean (a) the payment or
repayment in full in immediately available funds of (i) the principal amount of, and interest accrued and unpaid with respect to,
all outstanding Loans, together with the payment of any premium applicable to the repayment of the Loans, (ii) all Lender Group
Expenses that have accrued and are unpaid regardless of whether demand has been made therefor, and (iii) all fees or charges that
have accrued hereunder or under any other Loan Document (including the Letter of Credit Fee and the Unused Line Fee) and are unpaid,
(b) in the case of contingent reimbursement obligations with respect to Letters of Credit, providing Letter of Credit Collateralization,
(c) in the case of obligations with respect to Bank Products (other than Hedge Obligations), providing Bank Product Collateralization,
(d) the receipt by Agent of cash collateral in order to secure any other contingent Obligations for which a claim or demand for
payment has been made on or prior to such time or in respect of matters or circumstances known to Agent or a Lender at such time
that are reasonably expected to result in any loss, cost, damage, or expense (including attorneys’ fees and legal expenses),
such cash collateral to be in such amount as Agent reasonably determines is appropriate to secure such contingent Obligations,
(e) the payment or repayment in full in immediately available funds of all other outstanding Obligations (including the payment
of any termination amount then applicable (or which would or could become applicable as a result of the repayment of the other
Obligations) under Hedge Agreements provided by Hedge Providers) other than (i) unasserted contingent indemnification Obligations,
(ii) any Bank Product Obligations (other than Hedge Obligations) that, at such time, are allowed by the applicable Bank Product
Provider to remain outstanding without being required to be repaid or cash collateralized, and (iii) any Hedge Obligations that,
at such time, are allowed by the applicable Hedge Provider to remain outstanding without being required to be repaid, and (f) the
termination of all of the Commitments of the Lenders. Any reference herein to any Person shall be construed to include such Person’s
successors and assigns. Any requirement of a writing contained herein or in any other Loan Document shall be satisfied by the transmission
of a Record.

 

1.5           Exchange
Rates; Applicable Currency. For purposes of this Agreement and the other Loan Documents, the Dollar Equivalent of any Revolving
Loans, Letters of Credit, other Obligations and other references to amounts denominated in a currency other than Dollars shall
be determined in accordance with the terms of this Agreement. Such Dollar Equivalent shall become effective as of such Revaluation
Date for such Revolving Loans, Letters of Credit and other Obligations and shall be the Dollar Equivalent employed in converting
any amounts between the applicable currencies until the next Revaluation Date to occur for such Revolving Loans, Letters of Credit
and other Obligations. Except as otherwise expressly provided herein, the applicable amount of any currency for purposes of the
Loan Documents (including for purposes of financial statements and all calculations in connection with the covenants, including
the financial covenant) shall be the Dollar Equivalent thereof.

 

    	 	4	 

     

    

 

1.6           Time
References. Unless the context of this Agreement or any other Loan Document clearly requires otherwise, all references
to time of day refer to Pacific standard time or Pacific daylight saving time, as in effect in Los Angeles, California on such
day. For purposes of the computation of a period of time from a specified date to a later specified date, unless otherwise expressly
provided, the word “from” means “from and including” and the words “to” and “until”
each means “to and including”; provided that, with respect to a computation of fees or interest payable to Agent
or any Lender, such period shall in any event consist of at least one full day.

 

1.7           Schedules
and Exhibits. All of the schedules and exhibits attached to this Agreement shall be deemed incorporated herein by reference.

 

1.8           Pro
Forma Calculations and Limited Condition Transactions. When (a) determining compliance with any provision of the Loan Documents
which requires the calculation of a financial ratio (including without limitation, Article VII of this Agreement),
(b) determining compliance with representations, warranties, Defaults or Events of Default (other than compliance with the conditions
set forth in Sections 3.1 and 3.2 of this Agreement) or (c) testing availability under any baskets set forth in this
Agreement (including baskets measured as a percentage of Consolidated Adjusted EBITDA or Consolidated Total Assets), in each case,
in connection with a Limited Condition Transaction, in each case, at the option of the Administrative Borrower (the Administrative
Borrower’s election to exercise such option, an “LCT Election”), the relevant ratios, compliance requirements
and basket availability shall be determined as of the date the definitive Limited Condition Transaction agreement for such Limited
Condition Transaction is entered into (the “LCT Test Date”) and if, after giving pro forma effect to
the Limited Condition Transaction and any actions or transactions related thereto (including any incurrence of Indebtedness and
the use of proceeds thereof), the Borrowers would have been permitted to take such actions or consummate such transactions on the
relevant LCT Test Date in compliance with such ratio, test or basket (and any related requirements and conditions), such ratio,
test or basket (and any related requirements and conditions) shall be deemed to have been complied with (or satisfied) for all
purposes; provided, that any Excess Availability under this Agreement must be tested at the time of the consummation of
such Limited Condition Transaction. Without limiting the foregoing, in the case of a Specified Transaction in connection with a
Limited Condition Transaction, at the Administrative Borrower’s option, the relevant ratios and baskets shall be determined
as of the LCT Test Date as if the acquisition or other transaction and other pro forma events in connection therewith were
consummated on such date; provided that if the Administrative Borrower has made such an election, in connection with the
subsequent calculation of any ratio or basket with respect to any Specified Transaction on or following such date and prior to
the earlier of the date on which such Limited Condition Transaction is consummated or the Limited Condition Transaction agreement
for such acquisition is terminated, any such ratio or basket shall be calculated on a pro forma basis assuming such acquisition,
prepayment, Restricted Payment and other pro forma events in connection therewith (including any incurrence of Indebtedness
(other than an Incremental Revolving Commitment)) have been consummated, except that Consolidated Adjusted EBITDA, assets and Consolidated
Net Income of any target of such acquisition can only be used in the determination of the relevant ratios and baskets if and when
such acquisition is closed; and provided further that, (1) if the Administrative Borrower elects to have such determinations
occur at the time of entry into such definitive agreement, (x) the Indebtedness to be incurred (and any associated Lien) and
the use of proceeds thereof (and the consummation of any acquisition or Investment) shall be deemed incurred and/or applied
at the time of such election and outstanding thereafter for purposes of pro forma compliance with any applicable ratio in
this Agreement, in each case, unless the underlying transaction is terminated or the time period for consummation thereof expires,
and (y) such Limited Condition Transaction must actually be consummated by the earlier of (A) 180 days after the execution of the
applicable purchase agreement and (B) the applicable drop-dead date (as extended), or (2) otherwise, any financial ratio or Excess
Availability test in this Agreement, the amount of any basket based on EBITDA or Consolidated Adjusted EBITDA, as applicable, or
Consolidated Total Assets, the accuracy of any representation or warranty or the evidence of any Default or Event of Default, in
each case in connection with the consummation of a Limited Condition Transaction shall be tested at the time of consummation of
such Limited Condition Transaction.

 

    	 	5	 

     

    

 

1.9           Division
of Limited Liability Company. Any reference herein to a merger, transfer, consolidation, amalgamation, consolidation, assignment,
sale, disposition or transfer, or similar term, shall be deemed to apply to a division of or by a limited liability company, or
an allocation of assets to a series of a limited liability company (or the unwinding of such a division or allocation), as if it
were a merger, transfer, consolidation, amalgamation, consolidation, assignment, sale or transfer, or similar term, as applicable,
to, of or with a separate Person. Any division of a limited liability company shall constitute a separate Person hereunder (and
each division of any limited liability company that is a subsidiary, Restricted Subsidiary, Unrestricted Subsidiary, joint venture
or any other like term shall also constitute such a Person or entity).

 

2.           LOANS
AND TERMS OF PAYMENT.

 

2.1         Revolving
Loans.

 

(a)         Solely
with respect to amounts to be borrowed on the Closing Date and subject to the terms and conditions of this Agreement, each US Revolving
Lender and UK Revolving Lender, as applicable, agrees (severally, not jointly or jointly and severally) to make US Revolving Loans
or UK Revolving Loans, as applicable (collectively, “Closing Date Revolving Loans”), to the Borrowers in an
aggregate amount not to exceed $20,000,000 or the Dollar Equivalent thereof. The Closing Date Revolving Loans shall be deemed to
be US Revolving Loans or UK Revolving Loans, as applicable, for the purposes under this Agreement.

 

(b)         Subject
to the terms and conditions of this Agreement (including Section 2.1(f) below), and during the term of this Agreement, each
Lender with a US Revolver Commitment agrees (severally, not jointly or jointly and severally) to make Revolving Loans in Dollars
(“US Revolving Loans”) to US Borrowers in an amount at any one time outstanding not to exceed the lesser
of:

 

(i)          such
Lender’s US Revolver Commitment, or

 

(ii)         such
Lender’s Pro Rata Share of an amount equal to the lesser of:

 

(A)         the
amount equal to (1) the US Maximum Revolver Amount, less (2) the US Revolver Usage at such time, and

 

(B)         the
amount equal to (1) the US Borrowing Base as of such date (based upon the most recent Borrowing Base Certificate delivered by US
Borrowers to Agent, as adjusted for Reserves established by Agent in accordance with Section 2.1(e)), less (2) US
Revolver Usage at such time.

 

(c)         Subject
to the terms and conditions of this Agreement, and during the term of this Agreement, each UK Lender agrees (severally, not jointly
or jointly and severally) to make Revolving Loans in an Applicable Currency (“UK Revolving Loans”) to UK Borrowers
in a Dollar Equivalent amount at any one time outstanding not to exceed the lesser of:

 

    	 	6	 

     

    

 

(i)          such
UK Lender’s UK Revolver Commitment, or

 

(ii)         such
UK Lender’s Pro Rata Share of an amount equal to the lesser of:

 

(A)         the
amount equal to (1) the UK Maximum Revolver Amount, less (2) the UK Revolver Usage at such time, and

 

(B)         the
amount equal to (1) the UK Borrowing Base as of such date (based upon the UK Borrowing Base set forth in the most recent Borrowing
Base Certificate delivered by UK Borrowers to Agent as adjusted for UK Reserves established by Agent in accordance with Section
2.1(e)) less (2) the UK Revolver Usage at such time.

 

(d)         Amounts
borrowed pursuant to this Section 2.1 may be repaid and, subject to the terms and conditions of this Agreement, reborrowed
at any time during the term of this Agreement. The outstanding principal amount of the Revolving Loans, together with interest
accrued and unpaid thereon, shall constitute Obligations and shall be due and payable on the Maturity Date or, if earlier, on the
date on which they otherwise become due and payable pursuant to the terms of this Agreement.

 

(e)         Anything
to the contrary in this Section 2.1 notwithstanding, Agent shall have the right (but not the obligation) at any time, in
the exercise of its Permitted Discretion, to establish and increase or decrease Receivable Reserves, Bank Product Reserves, Vehicle
Sales/Use Taxes Reserves, UK Priority Payable Reserves and other Reserves against (without double counting) the Aggregate Borrowing
Base, US Borrowing Base and/or UK Borrowing Base or any component thereof or the Maximum Revolver Amount. The amount of any Receivable
Reserve, Bank Product Reserve, Vehicle Sales/Use Taxes Reserve, UK Priority Payable Reserves or other Reserve established by Agent,
and any changes to the eligibility set forth in the definition of “Eligible Accounts”, “Eligible Inventory”
or “Eligible Rolling Stock Collateral” shall have a reasonable relationship to the event, condition, other circumstance,
or fact that is the basis for such reserve or change in eligibility and shall not be duplicative of any other reserve established
and currently maintained.

 

(f)         Notwithstanding
anything to the contrary in this Section 2.1, at no time shall (i) the sum of the US Revolver Usage plus the Dollar
Equivalent of the UK Revolver Usage, exceed the Maximum Revolver Amount, (ii) the US Revolver Usage exceed the US Maximum Revolver
Amount, and (iii) the Dollar Equivalent of the UK Revolver Usage exceed the UK Maximum Revolver Amount.

 

2.2         [Reserved].

 

2.3         Borrowing
Procedures and Settlements.

 

(a)          Procedure
for Borrowing Revolving Loans. Provided Agent has not separately agreed that US Borrowers may use the Loan Management Service,
each Borrowing shall be made by a written request by an Authorized Person of US Administrative Borrower with respect to US Revolving
Loans or UK Administrative Borrower with respect to UK Revolving Loans, delivered to Agent (which may be delivered through Agent’s
electronic platform or portal) and received by Agent no later than 11:00 a.m. (or 11:00 a.m. (London time) in the case of UK Borrowings)
(i) on the Business Day that is the requested Funding Date in the case of a request for a Swing Loan or a UK Revolving Loan in
GBP, (ii) on the Business Day that is one (1) Business Day prior to the requested Funding Date in the case of a request for a Base
Rate Loan, and (iii) on the Business Day that is three (3) Business Days prior to the requested Funding Date in the case of a request
for a LIBOR Rate Loan in a currency other than GBP, specifying (A) the amount of such Borrowing and whether such Borrowing is for
the account of a US Borrower or a UK Borrower (and if for a UK Borrower, the Applicable Currency), and (B) the requested Funding
Date (which shall be a Business Day); provided, that Agent may, in its sole discretion, elect to accept as timely requests
that are received later than 11:00 a.m. (or 11:00 a.m. (London time) in the case of UK Borrowings) on the applicable Business Day.
All Borrowing requests which are not made on-line via Agent’s electronic platform or portal shall be subject to (and unless
Agent elects otherwise in the exercise of its sole discretion, such Borrowings shall not be made until the completion of) Agent’s
authentication process (with results satisfactory to Agent) prior to the funding of any such requested Revolving Loan. Borrowings
for the account of a US Borrower shall be denominated in Dollars. Borrowings for the account of UK Borrowers shall be denominated
in an Applicable Currency.

 

    	 	7	 

     

    

 

(b)         Making
of Swing Loans. In the case of a US Revolving Loan and so long as any of (i) the aggregate amount of Swing Loans made since
the last Settlement Date, minus all payments or other amounts applied to Swing Loans since the last Settlement Date, plus
the amount of the requested Swing Loan does not exceed $7,500,000, or (ii) Swing Lender, in its sole discretion, agrees to make
a Swing Loan notwithstanding the foregoing limitation, Swing Lender shall make a US Revolving Loan (any such US Revolving Loan
made by Swing Lender pursuant to this Section 2.3(b) being referred to as a “Swing Loan” and all such
US Revolving Loans being referred to as “Swing Loans”) available to US Borrowers on the Funding Date applicable
thereto by transferring immediately available funds in the amount of such US Borrowing to the US Designated Account. Each Swing
Loan shall be deemed to be a US Revolving Loan hereunder and shall be subject to all the terms and conditions (including Section
3) applicable to other US Revolving Loans, except that all payments (including interest) on any Swing Loan shall be payable
to Swing Lender solely for its own account. Subject to the provisions of Section 2.3(d)(ii), Swing Lender shall not make
and shall not be obligated to make any Swing Loan if Swing Lender has actual knowledge that (i) one or more of the applicable conditions
precedent set forth in Section 3 will not be satisfied on the requested Funding Date for the applicable US Borrowing, or
(ii) the requested US Borrowing would exceed the Excess Availability on such Funding Date. Swing Lender shall not otherwise be
required to determine whether the applicable conditions precedent set forth in Section 3 have been satisfied on the Funding
Date applicable thereto prior to making any Swing Loan. The Swing Loans shall be secured by Agent’s Liens, constitute US
Revolving Loans and US Obligations, and bear interest at the rate applicable from time to time to US Revolving Loans that are Base
Rate Loans.

 

(c)          Making
of Revolving Loans.

 

(i)          In
the event that Swing Lender is not obligated to make a Swing Loan or in respect of a UK Revolving Loan, after receipt of a request
for a Borrowing pursuant to Section 2.3(a) or (b), Agent shall notify the applicable Lenders by telecopy, telephone, email,
or other electronic form of transmission, of the requested Borrowing (and whether such Borrowing is for the account of US Borrowers
or UK Borrowers, as the case may be); such notification to be sent on the Business Day that is (A) in the case of Base Rate Loans,
at least one (1) Business Day prior to the requested Funding Date, or (B) in the case of LIBOR Rate Loans, prior to 11:00 a.m.
(or 1:00 p.m. (London time) in the case of UK Borrowings) at least three (3) Business Days prior to the requested Funding Date
(or, in each case, such later time as shall be acceptable to the Agent). Agent shall promptly notify the Lenders with an applicable
Commitment of a requested Borrowing and each such Lender shall make the amount of such Lender’s Pro Rata Share of the requested
Borrowing available to Agent in immediately available funds in the Applicable Currency, to Agent’s Applicable Account, not
later than 10:00 a.m. (or 10:00 a.m. (London time) in the case of UK Borrowings) on the Business Day that is the requested Funding
Date. After Agent’s receipt of the proceeds of such Revolving Loans from the Lenders, Agent shall make the proceeds thereof
available to the applicable Borrowers on the applicable Funding Date by transferring immediately available funds in the Applicable
Currency equal to such proceeds received by Agent to the US Designated Account or the UK Designated Account, as the case may be;
provided, that, subject to the provisions of Section 2.3(d)(ii), no Lender shall have an obligation to make any Revolving
Loan, if (1) one or more of the applicable conditions precedent set forth in Section 3 will not be satisfied on the requested
Funding Date for the applicable Borrowing unless such condition has been waived, or (2) the requested Borrowing would exceed the
US Availability (in the case of a US Borrowing) or the UK Availability (in the case of a UK Borrowing) on such Funding Date.

 

    	 	8	 

     

    

 

(ii)         Unless
Agent receives notice from a Lender prior to 9:30 a.m. (or 9:30 a.m. (London time) in the case of UK Borrowings) on the Business
Day that is the requested Funding Date relative to a requested Borrowing as to which Agent has notified the Lenders of a requested
Borrowing that such Lender will not make available as and when required hereunder to Agent for the account of Borrowers the amount
of that Lender’s Pro Rata Share of the Borrowing, Agent may assume that each Lender has made or will make such amount available
to Agent in immediately available funds in the Applicable Currency on the Funding Date and Agent may (but shall not be so required),
in reliance upon such assumption, make available to Borrowers a corresponding amount. If, on the requested Funding Date, any Lender
shall not have remitted the full amount that it is required to make available to Agent in immediately available funds in the Applicable
Currency and if Agent has made available to Borrowers such amount on the requested Funding Date, then such Lender shall make the
amount of such Lender’s Pro Rata Share of the requested Borrowing available to Agent in immediately available funds in the
Applicable Currency, to Agent’s Applicable Account, no later than 10:00 a.m. (or 10:00 a.m. (London time) in the case of
UK Borrowings) on the Business Day that is the first Business Day after the requested Funding Date (in which case, the interest
accrued on such Lender’s portion of such Borrowing for the Funding Date shall be for Agent’s separate account). If
any Lender shall not remit the full amount that it is required to make available to Agent in immediately available funds in the
Applicable Currency as and when required hereby and if Agent has made available to Borrowers such amount, then that Lender shall
be obligated to immediately remit such amount to Agent, together with interest at the Defaulting Lender Rate for each day until
the date on which such amount is so remitted. A notice submitted by Agent to any Lender with respect to amounts owing under this
Section 2.3(c)(ii) shall be conclusive, absent manifest error. If the amount that a Lender is required to remit is made
available to Agent, then such payment to Agent shall constitute such Lender’s Revolving Loan for all purposes of this Agreement.
If such amount is not made available to Agent on the Business Day following the Funding Date, Agent will notify Borrowers of such
failure to fund and, upon demand by Agent, Borrowers shall pay such amount to Agent for Agent’s Applicable Account, together
with interest thereon for each day elapsed since the date of such Borrowing, at a rate per annum equal to the interest rate applicable
at the time to the Revolving Loans composing such Borrowing. Nothing herein shall be deemed to relieve any Lender from its obligation
to fulfill its Commitment or to prejudice any rights which the Agent or any Borrower or any other Loan Party may have against any
Lender as a result of any default by such Lender hereunder.

 

(iii)        Loan
Management Service. If Agent has separately agreed that US Borrowers may use the Loan Management Service, US Borrowers shall
not request and Agent shall no longer honor a request for a US Borrowing made in accordance with Section 2.3(a) and all
US Borrowings will instead be initiated by Agent and credited to the US Designated Account as US Borrowings as of the end of each
Business Day in an amount sufficient to maintain an agreed upon ledger balance in the US Designated Account, subject only to limitations
set forth in in Section 2.1. If Agent terminates US Borrowers’ access to the Loan Management Service, US Borrowers
may continue to request US Borrowings as provided in Section 2.3(a), subject to the other terms and conditions of this Agreement.
Agent shall have no obligation to make a Borrowing through the Loan Management Service after the occurrence of a Default or an
Event of Default, or in an amount in excess of Availability, and may terminate the Loan Management Service at any time in its sole
discretion.

 

    	 	9	 

     

    

 

(d)         Protective
Advances and Optional Overadvances.

 

(i)          Any
contrary provision of this Agreement or any other Loan Document notwithstanding (but subject to Section 2.3(d)(iv)), at
any time (A) after the occurrence and during the continuance of a Default or an Event of Default, or (B) that any of the other
applicable conditions precedent set forth in Section 3 are not satisfied, Agent hereby is authorized by US Borrowers and
the US Lenders, from time to time, in Agent’s sole discretion, to make US Revolving Loans to, or for the benefit of, US Borrowers,
on behalf of the applicable US Lenders, that Agent, in its Permitted Discretion, deems necessary or desirable (1) to preserve or
protect the Collateral, or any portion thereof, or (2) to enhance the likelihood of repayment of the Obligations (other than the
Bank Product Obligations) (the US Revolving Loans described in this Section 2.3(d)(i) shall be referred to as “Protective
Advances”). Notwithstanding the foregoing, the aggregate amount of all Protective Advances outstanding at any one time
shall not exceed $5,000,000.

 

(ii)         Any
contrary provision of this Agreement or any other Loan Document notwithstanding, the US Lenders hereby authorize Agent or Swing
Lender, as applicable, and either Agent or Swing Lender, as applicable, may, but is not obligated to, knowingly and intentionally,
continue to make US Revolving Loans (including Swing Loans) to US Borrowers notwithstanding that an Overadvance exists or would
be created thereby, so long as (A) after giving effect to such US Revolving Loans, the outstanding US Revolver Usage does not exceed
the US Borrowing Base by more than $5,000,000, and (B) subject to Section 2.3(d)(iv) below, after giving effect to such
US Revolving Loans, the outstanding US Revolver Usage (except for and excluding amounts charged to the US Loan Account for interest,
fees, or applicable Lender Group Expenses) does not exceed the Maximum Revolver Amount. In the event Agent obtains actual knowledge
that the US Revolver Usage exceeds the amounts permitted by this Section 2.3(d), regardless of the amount of, or reason
for, such excess, Agent shall notify the applicable Lenders as soon as practicable (and prior to making any (or any additional)
intentional Overadvances (except for and excluding amounts charged to the US Loan Account for interest, fees, or applicable Lender
Group Expenses) unless Agent determines that prior notice would result in imminent harm to the Collateral or its value, in which
case Agent may make such Overadvances and provide notice as promptly as practicable thereafter), and the applicable Lenders with
US Revolver Commitments thereupon shall, together with Agent, jointly determine the terms of arrangements that shall be implemented
with US Borrowers intended to reduce, within a reasonable time, the outstanding principal amount of the US Revolving Loans to US
Borrowers to an amount permitted by the preceding sentence. In such circumstances, if any Lender with a US Revolver Commitment
objects to the proposed terms of reduction or repayment of any Overadvance, the terms of reduction or repayment thereof shall be
implemented according to the determination of the Required Lenders. The foregoing provisions are meant for the benefit of the Lenders
and Agent and are not meant for the benefit of Borrowers, which shall continue to be bound by the provisions of Section 2.4(e)(i).
Agent’s authorization to make intentional Overadvances may be revoked at any time by the Required Lenders delivering written
notice of such revocation to Agent. Any such revocation shall become effective prospectively upon Agent’s receipt thereof.

 

(iii)        Each
Protective Advance and each Overadvance (each, an “Extraordinary Advance”) shall be deemed to be a Revolving
Loan hereunder, except that no Extraordinary Advance shall be eligible to be a LIBOR Rate Loan. Prior to Settlement of any Extraordinary
Advance, all payments with respect thereto, including interest thereon, shall be payable to Agent solely for its own account. Each
US Revolving Lender shall be obligated to settle with Agent as provided in Section 2.3(e) or 2.3(g), as applicable,
for the amount of such Lender’s Pro Rata Share of any Extraordinary Advance. The Extraordinary Advances shall be repayable
on demand, secured by Agent’s Liens, and constitute US Obligations hereunder, and bear interest at the rate applicable from
time to time to US Revolving Loans that are Base Rate Loans. The provisions of this Section 2.3(d) are for the exclusive
benefit of Agent, Swing Lender, and the Lenders and are not intended to benefit Borrowers (or any other Loan Party) in any way.

 

    	 	10	 

     

    

 

(iv)        Notwithstanding
anything contained in this Agreement or any other Loan Document to the contrary, no Extraordinary Advance may be made by Agent
if such Extraordinary Advance would cause the aggregate US Revolver Usage to exceed the Maximum Revolver Amount or any Lender’s
Pro Rata Share of the US Revolver Usage to exceed such Lender’s US Revolver Commitment; provided that Agent may make
Extraordinary Advances in excess of the foregoing limitations so long as such Extraordinary Advances that cause the aggregate US
Revolver Usage to exceed the Maximum Revolver Amount or a Lender’s Pro Rata Share of the US Revolver Usage to exceed such
Lender’s US Revolver Commitment are for Agent’s sole and separate account and not for the account of any Lender. No
Lender shall have an obligation to settle with Agent for such Extraordinary Advances that cause the aggregate US Revolver Usage
to exceed the Maximum Revolver Amount or a Lender’s Pro Rata Share of the US Revolver Usage to exceed such Lender’s
US Revolver Commitment as provided in Section 2.3(e) or Section 2.3(g), as applicable.

 

(e)         Settlement.
It is agreed that each applicable Lender’s funded portion of (x) the US Revolving Loans is intended by the Lenders to
equal, at all times, such Lender’s Pro Rata Share of the outstanding US Revolving Loans, and (y) the UK Revolving Loans is
intended by the Lenders to equal, at all times, such Lender’s Pro Rata Share of the outstanding UK Revolving Loans. Such
agreement notwithstanding, Agent, Swing Lender, and the other Lenders agree (which agreement shall not be for the benefit of Borrowers)
that in order to facilitate the administration of this Agreement and the other Loan Documents, settlement among the applicable
Lenders as to the Revolving Loans (including Swing Loans and Extraordinary Advances) shall take place on a periodic basis in accordance
with the following provisions:

 

(i)          Agent
shall request settlement (“Settlement”) with the applicable Lenders on a weekly basis, or on a more frequent
basis if so determined by Agent in its sole discretion (1) on behalf of Swing Lender, with respect to the outstanding Swing Loans,
(2) for itself, with respect to the outstanding Extraordinary Advances, and (3) with respect to Holdings’ or any of its Subsidiaries’
payments or other amounts received, as to each by notifying the Lenders by telecopy, telephone, or other similar form of transmission,
of such requested Settlement, no later than 2:00 p.m. (or 2.00 pm (London time) in the case of UK Revolving Loans) on the Business
Day immediately prior to the date of such requested Settlement (the date of such requested Settlement being the “Settlement
Date”). Such notice of a Settlement Date shall include a summary statement of the amount of outstanding US Revolving
Loans (including Swing Loans and Extraordinary Advances) and UK Revolving Loans for the period since the prior Settlement Date.
Subject to the terms and conditions contained herein (including Section 2.3(g)), (x) if the amount of the applicable Revolving
Loans (including Swing Loans, and Extraordinary Advances) made by a Lender that is not a Defaulting Lender exceeds such Lender’s
Pro Rata Share of the applicable Revolving Loans (including Swing Loans and Extraordinary Advances) as of a Settlement Date, then
Agent shall, by no later than 12:00 p.m. (or 12.00 pm (London time) in the case of UK Revolving Loans) on the Settlement Date,
transfer in immediately available funds in the Applicable Currency to a Deposit Account of such Lender (as such Lender may designate),
an amount such that each such Lender shall, upon receipt of such amount, have as of the Settlement Date, its Pro Rata Share of
the US Revolving Loans (including Swing Loans and Extraordinary Advances) and UK Revolving Loans, and (y) if the amount of the
applicable Revolving Loans (including Swing Loans and Extraordinary Advances) made by a Lender is less than such Lender’s
Pro Rata Share of the applicable Revolving Loans (including Swing Loans, and Extraordinary Advances) as of a Settlement Date, such
Lender shall no later than 12:00 p.m. (or 12.00 pm (London time) in the case of UK Revolving Loans) on the Settlement Date transfer
in immediately available funds in the Applicable Currency to Agent’s Applicable Account, an amount such that each such Lender
shall, upon transfer of such amount, have as of the Settlement Date, its Pro Rata Share of the US Revolving Loans (including Swing
Loans and Extraordinary Advances) and UK Revolving Loans. Such amounts made available to Agent under clause (y) of the immediately
preceding sentence shall be applied against the amounts of the Swing Loans or Extraordinary Advances, as applicable, and, together
with the portion of such Swing Loans or Extraordinary Advances representing Swing Lender’s Pro Rata Share thereof, shall
constitute the applicable UK Revolving Loans of such Lenders. If any such amount is not made available to Agent by any Lender on
the Settlement Date applicable thereto to the extent required by the terms hereof, Agent shall be entitled to recover for its account
such amount on demand from such Lender together with interest thereon at the Defaulting Lender Rate.

 

    	 	11	 

     

    

 

(ii)         In
determining whether a Lender’s balance of the applicable Revolving Loans, (including Swing Loans and Extraordinary Advances)
is less than, equal to, or greater than such Lender’s Pro Rata Share of the applicable Revolving Loans (including Swing Loans,
and Extraordinary Advances) as of a Settlement Date, Agent shall, as part of the relevant Settlement, apply to such balance the
portion of payments actually received in good funds by Agent with respect to principal, interest, fees payable by Borrowers and
allocable to the Lenders hereunder, and proceeds of Collateral.

 

(iii)        Between
Settlement Dates, Agent, to the extent Extraordinary Advances or Swing Loans are outstanding, may pay over to Agent or Swing Lender,
as applicable, any payments or other amounts received by Agent, that in accordance with the terms of this Agreement would be applied
to the reduction of the US Revolving Loans, for application to the Extraordinary Advances or Swing Loans. Between Settlement Dates,
Agent, to the extent no Extraordinary Advances or Swing Loans are outstanding, may pay over to Swing Lender any payments or other
amounts received by Agent, that in accordance with the terms of this Agreement would be applied to the reduction of the US Revolving
Loans, for application to Swing Lender’s Pro Rata Share of the US Revolving Loans. If, as of any Settlement Date, payments
or other amounts of the Loan Parties or their Subsidiaries received since the then immediately preceding Settlement Date have been
applied to Swing Lender’s Pro Rata Share of the Revolving Loans other than to Swing Loans, as provided for in the previous
sentence, Swing Lender shall pay to Agent for the accounts of the applicable Lenders, and Agent shall pay to such Lenders (other
than a Defaulting Lender if Agent has implemented the provisions of Section 2.3(g)), to be applied to the applicable outstanding
Revolving Loans of such Lenders, an amount such that each such Lender shall, upon receipt of such amount, have, as of such Settlement
Date, its Pro Rata Share of the Revolving Loans. During the period between Settlement Dates, Swing Lender with respect to Swing
Loans, Agent with respect to Extraordinary Advances, and each Lender with respect to the Revolving Loans, other than Swing Loans
and Extraordinary Advances, shall be entitled to interest at the applicable rate or rates payable under this Agreement on the daily
amount of funds employed by Swing Lender, Agent, or the Lenders, as applicable.

 

(iv)        Anything
in this Section 2.3(e) to the contrary notwithstanding, in the event that a Lender is a Defaulting Lender, Agent shall be
entitled to refrain from remitting settlement amounts to the Defaulting Lender and, instead, shall be entitled to elect to implement
the provisions set forth in Section 2.3(g).

 

(f)          Notation.
Consistent with Section 13.1(h) below, Agent, as a non-fiduciary agent for Borrowers, shall maintain a register showing
the principal amount and stated interest of the Revolving Loans, owing to each Lender, including the Swing Loans owing to the Swing
Lender, and Extraordinary Advances owing to Agent, and the interests therein of each Lender, from time to time and such register
shall, absent manifest error, conclusively be presumed to be correct and accurate.

 

(g)         Defaulting
Lenders.

 

(i)          Notwithstanding
the provisions of Section 2.4(b)(iii), Agent shall not be obligated to transfer to a Defaulting Lender any payments made
by Borrowers to Agent for the Defaulting Lender’s benefit or any proceeds of Collateral that would otherwise be remitted
hereunder to the Defaulting Lender, and, in the absence of such transfer to the Defaulting Lender, Agent shall transfer any such
payments

 

    	 	12	 

     

    

 

(A)         pertaining
to or securing US Obligations, first, to Agent to the extent of any Extraordinary Advances that were made by Agent and that
were required to be, but were not, paid by the Defaulting Lender, second, to Swing Lender to the extent of any Swing Loans
that were made by Swing Lender and that were required to be, but were not, paid by the Defaulting Lender, third, to US Issuing
Bank, to the extent of the portion of a Letter of Credit Disbursement that was required to be, but was not, paid by the Defaulting
Lender, fourth, to each Non-Defaulting Lender ratably in accordance with their US Revolver Commitments (but, in each case,
only to the extent that such Defaulting Lender’s portion of a US Revolving Loan (or other funding obligation) was funded
by such other Non-Defaulting Lender), fifth, in Agent’s sole discretion, to a suspense account maintained by Agent,
the proceeds of which shall be retained by Agent and may be made available to be re-advanced to or for the benefit of US Borrowers
(upon the request of US Administrative Borrower and subject to the conditions set forth in Section 3.2) as if such Defaulting
Lender had made its portion of US Revolving Loans (or other funding obligations) hereunder, and sixth, from and after the
date on which all other US Obligations have been paid in full, to such Defaulting Lender in accordance with Section 2.4(b)(iii)(M);
and

 

(B)         pertaining
to or securing UK Obligations, first, to each Non-Defaulting Lender ratably in accordance with their UK Revolver Commitments
(but, in each case, only to the extent that such Defaulting Lender’s portion of a UK Revolving Loan (or other funding obligation)
was funded by such other Non-Defaulting Lender), second, to UK Issuing Bank, to the extent of the portion of a Letter of
Credit Disbursement that was required to be, but was not paid by the Defaulting Lender, third, to each Non-Defaulting Lender
ratably in accordance with their UK Revolver Commitments (but, in each case, only to the extent that such Defaulting Lender’s
portion of a UK Revolving Loan (or other funding obligation) was funded by such other Non-Defaulting Lender), fourth, in
Agent’s sole discretion (upon the request of the UK Administrative Borrower and subject to the conditions set forth in Section
3.2), to a suspense account maintained by Agent, the proceeds of which shall be retained by Agent and may be made available
to be re-advanced to or for the benefit of UK Borrowers as if such Defaulting Lender had made its portion of UK Revolving Loans
(or other funding obligations) hereunder, and fifth, from and after the date on which all other UK Obligations have been
paid in full, to such Defaulting Lender in accordance with tier (B)(5) of Section 2.4(b)(ii).

 

(ii)         Subject
to the foregoing clause (i), Agent may hold and, in its discretion, re-lend to Borrowers for the account of such Defaulting
Lender the amount of all such payments received and retained by Agent for the account of such Defaulting Lender. Solely for the
purposes of voting or consenting to matters with respect to the Loan Documents (including the calculation of Pro Rata Share in
connection therewith) and for the purpose of calculating the fee payable under Section 2.10(b), such Defaulting Lender shall
be deemed not to be a “Lender” and such Lender’s Commitment shall be deemed to be zero; provided, that
the foregoing shall not apply to any of the matters governed by Section 14.1(a)(i) through (iii). The provisions
of this Section 2.3(g) shall remain effective with respect to such Defaulting Lender until the earlier of (y) the date on
which all of the Non-Defaulting Lenders, Agent, Issuing Bank, and Borrowers shall have waived, in writing, the application of this
Section 2.3(g) to such Defaulting Lender, or (z) the date on which such Defaulting Lender makes payment of all amounts that
it was obligated to fund hereunder, pays to Agent all amounts owing by Defaulting Lender in respect of the amounts that it was
obligated to fund hereunder, and, if requested by Agent, provides adequate assurance of its ability to perform its future obligations
hereunder (on which earlier date, so long as no Event of Default has occurred and is continuing, any remaining cash collateral
held by Agent pursuant to Section 2.3(g)(iii) shall be released to the applicable Borrowers). The operation of this Section
2.3(g) shall not be construed to increase or otherwise affect the Commitment of any Lender, to relieve or excuse the performance
by such Defaulting Lender or any other Lender of its duties and obligations hereunder, or to relieve or excuse the performance
by any Borrower of its duties and obligations hereunder to Agent, Issuing Bank, or to the Lenders other than such Defaulting Lender.
Any failure by a Defaulting Lender to fund amounts that it was obligated to fund hereunder shall constitute a material breach by
such Defaulting Lender of this Agreement and shall entitle Borrowers, at their option, upon written notice to Agent, to arrange
for a substitute Lender to assume the Commitments of such Defaulting Lender, such substitute Lender to be reasonably acceptable
to Agent. In connection with the arrangement of such a substitute Lender, the Defaulting Lender shall have no right to refuse to
be replaced hereunder, and agrees to execute and deliver a completed form of Assignment and Acceptance in favor of the substitute
Lender (and agrees that it shall be deemed to have executed and delivered such document if it fails to do so) subject only to being
paid its share of the outstanding Obligations (other than Bank Product Obligations, but including (1) all interest, fees, and other
amounts that may be due and payable in respect thereof, and (2) an assumption of its Pro Rata Share of its participation in the
Letters of Credit); provided, that any such assumption of the Commitment of such Defaulting Lender shall not be deemed to
constitute a waiver of any of the Lender Groups’ or Borrowers’ rights or remedies against any such Defaulting Lender
arising out of or in relation to such failure to fund. In the event of a direct conflict between the priority provisions of this
Section 2.3(g) and any other provision contained in this Agreement or any other Loan Document, it is the intention of the
parties hereto that such provisions be read together and construed, to the fullest extent possible, to be in concert with each
other. In the event of any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and provisions of this
Section 2.3(g) shall control and govern.

 

    	 	13	 

     

    

 

(iii)        If
any Swing Loan or Letter of Credit is outstanding at the time that a Lender becomes a Defaulting Lender, then:

 

(A)         such
Defaulting Lender’s Swing Loan Exposure and Letter of Credit Exposure shall be reallocated among the applicable Non-Defaulting
Lenders in accordance with their respective Pro Rata Shares but only to the extent (x) the sum of all applicable Non-Defaulting
Lenders’ Pro Rata Share of US Revolver Usage plus such Defaulting Lender’s Swing Loan Exposure and Letter of Credit
Exposure does not exceed the total of all applicable Non-Defaulting Lenders’ US Revolver Commitments and (y) the conditions
set forth in Section 3.2 are satisfied at such time;

 

(B)         if
the reallocation described in clause (A) above cannot, or can only partially, be effected, US Borrowers shall within one
Business Day following notice by Agent (x) first, prepay such Defaulting Lender’s Swing Loan Exposure (after giving effect
to any partial reallocation pursuant to clause (A) above), and (y) second, cash collateralize such Defaulting Lender’s
Letter of Credit Exposure (after giving effect to any partial reallocation pursuant to clause (A) above), pursuant to a
cash collateral agreement to be entered into in form and substance reasonably satisfactory to Agent, for so long as such Letter
of Credit Exposure is outstanding; provided, that US Borrowers shall not be obligated to cash collateralize any Defaulting
Lender’s Letter of Credit Exposure if such Defaulting Lender is also Issuing Bank;

 

(C)         if
US Borrowers cash collateralize any portion of such Defaulting Lender’s Letter of Credit Exposure pursuant to this Section
2.3(g)(iii), US Borrowers shall not be required to pay any Letter of Credit Fees to Agent for the account of such Defaulting
Lender pursuant to Section 2.6(b) with respect to such cash collateralized portion of such Defaulting Lender’s Letter
of Credit Exposure during the period such Letter of Credit Exposure is cash collateralized;

 

(D)         to
the extent the Letter of Credit Exposure of the Non-Defaulting Lenders is reallocated pursuant to this Section 2.3(g)(iii),
then the Letter of Credit Fees payable to the Non-Defaulting Lenders pursuant to Section 2.6(b) shall be adjusted in accordance
with such Non-Defaulting Lenders’ Letter of Credit Exposure;

 

    	 	14	 

     

    

 

(E)         to
the extent any Defaulting Lender’s Letter of Credit Exposure is neither cash collateralized nor reallocated pursuant to this
Section 2.3(g)(iii), then, without prejudice to any rights or remedies of Issuing Bank or any Lender hereunder, all Letter
of Credit Fees that would have otherwise been payable to such Defaulting Lender under Section 2.6(b) with respect to such
portion of such Letter of Credit Exposure shall instead be payable to Issuing Bank until such portion of such Defaulting Lender’s
Letter of Credit Exposure is cash collateralized or reallocated;

 

(F)         so
long as any Lender is a Defaulting Lender, Swing Lender shall not be required to make any Swing Loan and Issuing Bank shall not
be required to issue, amend, or increase any Letter of Credit, in each case, to the extent (x) the Defaulting Lender’s Pro
Rata Share of such Swing Loans or Letter of Credit cannot be reallocated pursuant to this Section 2.3(g)(iii) or (y) Swing
Lender or Issuing Bank, as applicable, has not otherwise entered into arrangements reasonably satisfactory to Swing Lender or Issuing
Bank, as applicable, and US Borrowers to eliminate Swing Lender’s or Issuing Bank’s risk with respect to the Defaulting
Lender’s participation in Swing Loans or Letters of Credit; and

 

(G)         Agent
may release any cash collateral provided by US Borrowers pursuant to this Section 2.3(g)(iii) to Issuing Bank and Issuing
Bank may apply any such cash collateral to the payment of such Defaulting Lender’s Pro Rata Share of any Letter of Credit
Disbursement that is not reimbursed by US Borrowers pursuant to Section 2.11(d). No reallocation hereunder shall constitute
a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting
Lender, including any claim of a Non-Defaulting Lender as a result of such Non-Defaulting Lender’s increased exposure following
such reallocation.

 

(h)          Independent
Obligations. All Revolving Loans (other than Swing Loans and Extraordinary Advances) shall be made by the applicable Lenders
contemporaneously and in accordance with their Pro Rata Shares. It is understood that (i) no Lender shall be responsible for any
failure by any other Lender to perform its obligation to make any Revolving Loan (or other extension of credit) hereunder, nor
shall any Commitment of any Lender be increased or decreased as a result of any failure by any other Lender to perform its obligations
hereunder, and (ii) no failure by any Lender to perform its obligations hereunder shall excuse any other Lender from its obligations
hereunder.

 

2.4         Payments;
Termination of Commitments; Prepayments.

 

(a)         Payments
by Borrowers.

 

(i)          Except
as otherwise expressly provided herein, all payments by Borrowers shall be made to Agent’s Applicable Account for the account
of the applicable members of the Lender Group and shall be made in immediately available funds in the Applicable Currency, no later
than 1:30 p.m. (or 1:30 p.m. (London time) in the case of payments made to Agent’s UK Account) on the date specified herein.
Any payment received by Agent later than 1:30 p.m. (or 1:30 p.m. (London time) in the case of payments made to Agent’s UK
Account) shall be deemed to have been received (unless Agent, in its sole discretion, elects to credit it on the date received)
on the following Business Day and any applicable interest or fee shall continue to accrue until such following Business Day.

 

(ii)         Unless
Agent receives notice from Borrowers prior to the date on which any payment is due to the Lenders that Borrowers will not make
such payment in full as and when required, Agent may assume that Borrowers have made (or will make) such payment in full to Agent
on such date in immediately available funds in the Applicable Currency, and Agent may (but shall not be so required), in reliance
upon such assumption, distribute to each Lender on such due date an amount equal to the amount then due such Lender. If and to
the extent Borrowers do not make such payment in full to Agent on the date when due, each Lender severally shall repay to Agent
on demand such amount distributed to such Lender, together with interest thereon at the Defaulting Lender Rate for each day from
the date such amount is distributed to such Lender until the date repaid.

 

    	 	15	 

     

    

 

(b)         Apportionment
and Application.

 

(i)          So
long as no Application Event has occurred and is continuing and except as otherwise provided herein with respect to Defaulting
Lenders, all principal and interest payments received by Agent shall be apportioned ratably among the applicable Lenders (according
to the unpaid principal balance of the Obligations to which such payments relate held by each such Lender) and all payments of
fees and expenses received by Agent (other than fees or expenses that are for Agent’s separate account or for the separate
account of Issuing Bank) shall be apportioned ratably among the Lenders having a Pro Rata Share of the type of Commitment or Obligation
to which a particular fee or expense relates.

 

(ii)         Subject
to Section 2.4(b)(iii) and (iv), and Section 2.4(e),

 

(A)         all
payments in respect of US Obligations to be made hereunder by US Borrowers shall be remitted to Agent and all such payments, and
all proceeds of Collateral securing US Obligations received by Agent, shall be applied, so long as no Application Event has occurred
and is continuing and except as otherwise provided herein with respect to Defaulting Lenders, to reduce the balance of the US Revolving
Loans outstanding and, thereafter, to US Borrowers (to be wired to the US Designated Account) or such other Person entitled thereto
under applicable law; and

 

(B)         all
payments in respect of UK Obligations to be made hereunder by UK Borrowers shall be remitted to Agent and all such payments, and
all proceeds of Collateral securing UK Obligations received by Agent and/or UK Security Agent (including all amounts standing to
the credit of the UK Blocked Accounts), shall be applied, so long as no Application Event has occurred and is continuing and except
as otherwise provided herein with respect to Defaulting Lenders as follows:

 

(1)         first,
to pay any Lender Group Expenses (including cost or expense reimbursements) or indemnities then due to Agent and/or UK Security
Agent and/or Lenders or any fees or premiums then due to Agent and/or UK Security Agent and/or Lenders under the Loan Documents
in respect of the UK Obligations, until paid in full,

 

(2)         second,
ratably, to pay interest accrued in respect of the UK Revolving Loans until paid in full,

 

(3)         third,
to pay the principal of all UK Revolving Loans until paid in full,

 

(4)         fourth,
to pay any other UK Obligations other than UK Obligations owed to Defaulting Lenders (including being paid, ratably, to the Bank
Product Providers on account of all amounts then due and payable in respect of UK Bank Product Obligations),

 

(5)         fifth,
ratably, to pay any UK Obligations owed to Defaulting Lenders, and

 

(6)         sixth,
to UK Borrowers (to be wired to the UK Designated Account) or such other Person entitled thereto under applicable law.

 

    	 	16	 

     

    

 

(iii)        At
any time that an Application Event has occurred and is continuing and except as otherwise provided herein with respect to Defaulting
Lenders, all payments remitted to Agent in respect of US Obligations and all proceeds of Collateral of the US Loan Parties received
by Agent shall be applied as follows:

 

(A)         first,
to pay any Lender Group Expenses (including cost or expense reimbursements) or indemnities then due to Agent under the Loan
Documents in respect of the US Obligations and to pay interest and principal on Extraordinary Advances that are held solely
by Agent pursuant to the terms of Section 2.3(d)(iv), until paid in full,

 

(B)         second,
to pay any fees or premiums then due to Agent under the Loan Documents in respect of the US Obligations until paid in full,

 

(C)         third,
to pay interest due in respect of all Extraordinary Advances in respect of the US Obligations until paid in full,

 

(D)         fourth,
to pay the principal of all Extraordinary Advances in respect of the US Obligations until paid in full,

 

(E)          fifth,
ratably, to pay any Lender Group Expenses (including cost or expense reimbursements) or indemnities then due to any of the Lenders
under the Loan Documents in respect of the US Obligations, until paid in full,

 

(F)         sixth,
ratably, to pay any fees or premiums then due to any of the Lenders under the Loan Documents in respect of the US Obligations until
paid in full,

 

(G)         seventh,
to pay interest accrued in respect of the Swing Loans until paid in full,

 

(H)         eighth,
to pay the principal of all Swing Loans until paid in full,

 

(I)           ninth,
ratably, to pay interest accrued in respect of the US Revolving Loans (other than Extraordinary Advances) until paid in full,

 

(J)          tenth,
ratably

 

(1)         to
pay the principal of all US Revolving Loans until paid in full,

 

(2)         to
Agent, to be held by Agent, for the benefit of Issuing Bank in respect of the US Obligations (and for the ratable benefit of each
of the Lenders that have an obligation to pay to Agent, for the account of Issuing Bank, a share of each Letter of Credit Disbursement),
as cash collateral in an amount up to 103% of the US Letter of Credit Usage (to the extent permitted by applicable law, such cash
collateral shall be applied to the reimbursement of any Letter of Credit Disbursement as and when such disbursement occurs and,
if a Letter of Credit expires undrawn, the cash collateral held by Agent in respect of such Letter of Credit shall, to the extent
permitted by applicable law, be reapplied pursuant to this Section 2.4(b)(iii), beginning with tier (A) hereof), and

 

    	 	17	 

     

    

 

(3)         up
to the amount (after taking into account any amounts previously paid pursuant to this clause (3) during the continuation
of the applicable Application Event) of the most recently established US Bank Product Reserve, which amount was established prior
to the occurrence of, and not in contemplation of, the subject Application Event, to (y) the Bank Product Providers based upon
amounts then certified by the applicable Bank Product Provider to Agent (in form and substance satisfactory to Agent) to be due
and payable to such Bank Product Provider on account of US Bank Product Obligations, and (z) with any balance to be paid to Agent,
to be held by Agent, for the ratable benefit of the Bank Product Providers, as cash collateral (which cash collateral may be released
by Agent to the applicable Bank Product Provider and applied by such Bank Product Provider to the payment or reimbursement of any
amounts due and payable with respect to US Bank Product Obligations owed to the applicable Bank Product Provider as and when such
amounts first become due and payable and, if and at such time as all such US Bank Product Obligations are paid or otherwise satisfied
in full, the cash collateral held by Agent in respect of such US Bank Product Obligations shall be reapplied pursuant to this Section
2.4(b)(iii), beginning with tier (A) hereof,

 

(K)         eleventh,
to pay any other US Obligations other than US Obligations owed to Defaulting Lenders (including being paid, ratably, to the Bank
Product Providers on account of all amounts then due and payable in respect of US Bank Product Obligations, with any balance to
be paid to Agent, to be held by Agent, for the ratable benefit of the Bank Product Providers, as cash collateral (which cash collateral
may be released by Agent to the applicable Bank Product Provider and applied by such Bank Product Provider to the payment or reimbursement
of any amounts due and payable with respect to US Bank Product Obligations owed to the applicable Bank Product Provider as and
when such amounts first become due and payable and, if and at such time as all such US Bank Product Obligations are paid or otherwise
satisfied in full, the cash collateral held by Agent in respect of such UK Bank Product Obligations shall be reapplied pursuant
to this Section 2.4(b)(iii), beginning with tier (A)(1) hereof),

 

(L)         twelfth,
ratably, to pay any UK Obligations arising as a result of any guaranty by a US Loan Party of the UK Obligations (and if no amounts
are due under any such guaranty, to cash collateralize the obligations under such guaranty unless the UK Revolver Commitments of
Lenders to make UK Revolving Loans have terminated and the UK Obligations have been paid in full),

 

(M)       thirteenth,
ratably, to pay any US Obligations owed to Defaulting Lenders, and

 

(N)         fourteenth,
to US Borrowers (to be wired to the US Designated Account) or such other Person entitled thereto under applicable law.

 

(iv)        At
any time an Application Event has occurred and is continuing and except as otherwise provided herein with respect to Defaulting
Lenders, all payments in respect of UK Obligations and all proceeds of Collateral securing the UK Obligations received by Agent
or UK Security Agent (including all amounts standing to the credit of the UK Blocked Accounts) shall be applied as follows:

 

(A)         first,
to pay any Lender Group Expenses (including cost or expense reimbursements) or indemnities then due to Agent and/or UK Security
Agent under the Loan Documents in respect of the UK Obligations, until paid in full,

 

(B)         second,
to pay any fees or premiums then due to Agent under the Loan Documents in respect of the UK Obligations until paid in full,

 

(C)         third,
ratably, to pay any Lender Group Expenses (including cost or expense reimbursements) or indemnities then due to any of the Lenders
under the Loan Documents in respect of the UK Obligations, until paid in full,

 

    	 	18	 

     

    

 

(D)         fourth,
ratably, to pay any fees or premiums then due to any of the Lenders under the Loan Documents in respect of the UK Obligations until
paid in full,

 

(E)          fifth,
ratably, to pay interest accrued in respect of the UK Revolving Loans until paid in full,

 

(F)          sixth,
ratably, to pay (1) the principal of all UK Revolving Loans until paid in full, (2) to Agent to be held by Agent for the benefit
of Issuing Bank in respect of the UK Obligations (and for the ratable benefit of each of the Lenders that have an obligation to
pay to Agent, for the account of Issuing Bank, a share of each Letter of Credit Disbursement), as cash collateral in an amount
up to 103% of the UK Letter of Credit Usage (to the extent permitted by applicable law, such cash collateral shall be applied to
the reimbursement of any Letter of Credit Disbursement as and when such disbursement occurs and, if a Letter of Credit expires
undrawn, the cash collateral held by Agent in respect of such Letter of Credit shall, to the extent permitted by applicable law,
be reapplied pursuant to this Section 2.4(b)(iv), beginning with tier (A) hereof), and (3) up to the amount (after taking
into account any amounts previously paid pursuant to this clause (F) during the continuation of the applicable Application
Event) of the most recently established UK Bank Product Reserve, which amount was established prior to the occurrence of, and not
in contemplation of, the subject Application Event, to (y) the Bank Product Providers based upon amounts then certified by the
applicable Bank Product Provider to Agent (in form and substance satisfactory to Agent) to be due and payable to such Bank Product
Providers on account of UK Bank Product Obligations, and (z) with any balance to be paid to Agent, to be held by Agent, for the
ratable benefit of the Bank Product Providers, as cash collateral (which cash collateral may be released by Agent to the applicable
Bank Product Provider and applied by such Bank Product Provider to the payment or reimbursement of any amounts due and payable
with respect to UK Bank Product Obligations owed to the applicable Bank Product Provider as and when such amounts first become
due and payable and, if and at such time as all such UK Bank Product Obligations are paid or otherwise satisfied in full, the cash
collateral held by Agent in respect of such UK Bank Product Obligations shall be reapplied pursuant to this Section 2.4(b)(iv),
beginning with tier (B) hereof,

 

(G)         seventh,
to pay any other UK Obligations other than UK Obligations owed to Defaulting Lenders (including being paid, ratably, to the Bank
Product Providers on account of all amounts then due and payable in respect of UK Bank Product Obligations, with any balance to
be paid to Agent, to be held by Agent, for the ratable benefit of the Bank Product Providers, as cash collateral (which cash collateral
may be released by Agent to the applicable Bank Product Provider and applied by such Bank Product Provider to the payment or reimbursement
of any amounts due and payable with respect to UK Bank Product Obligations owed to the applicable Bank Product Provider as and
when such amounts first become due and payable and, if and at such time as all such UK Bank Product Obligations are paid or otherwise
satisfied in full, the cash collateral held by Agent in respect of such UK Bank Product Obligations shall be reapplied pursuant
to this Section 2.4(b)(iv), beginning with tier (B)(1) hereof),

 

(H)        eighth,
ratably, to pay any UK Obligations owed to Defaulting Lenders; and

 

(I)           ninth,
to UK Borrowers (to be wired to the UK Designated Account) or such other Person entitled thereto under applicable law.

 

(v)         Agent
promptly shall distribute to each applicable Lender, pursuant to the applicable wire instructions received from each Lender in
writing, such funds as it may be entitled to receive, subject to a Settlement delay as provided in Section 2.3(e).

 

    	 	19	 

     

    

 

(vi)        In
each instance, so long as no Application Event has occurred and is continuing, Section 2.4(b)(ii) shall not apply to any
payment made by Borrowers to Agent and specified by Borrowers to be for the payment of specific Obligations then due and payable
(or prepayable) under any provision of this Agreement or any other Loan Document.

 

(vii)       For
purposes of Section 2.4(b)(iii), “paid in full” of a type of Obligation means payment in cash or immediately
available funds of all amounts owing on account of such type of Obligation, including interest accrued after the commencement of
any Insolvency Proceeding, default interest, interest on interest, and expense reimbursements, irrespective of whether any of the
foregoing would be or is allowed or disallowed in whole or in part in any Insolvency Proceeding.

 

(viii)      In
the event of a direct conflict between the priority provisions of this Section 2.4 and any other provision contained in
this Agreement or any other Loan Document, it is the intention of the parties hereto that such provisions be read together and
construed, to the fullest extent possible, to be in concert with each other. In the event of any actual, irreconcilable conflict
that cannot be resolved as aforesaid, if the conflict relates to the provisions of Section 2.3(g) and this Section 2.4,
then the provisions of Section 2.3(g) shall control and govern, and if otherwise, then the terms and provisions of this
Section 2.4 shall control and govern.

 

(ix)         Payments
from US Loan Parties shall be deemed to be in respect of US Obligations, and payments from UK Loan Parties shall be deemed to be
in respect of UK Obligations, unless, so long as no Application Event has occurred and is continuing, the Loan Party making the
payment specifies otherwise in writing. If payment is from proceeds of Collateral that secures each of the US Obligations and UK
Obligations, such payment shall be, so long as no Application Event has occurred and is continuing, as specified by Borrowers or,
if not so specified or if an Application Event has occurred and is continuing, as determined by Agent in its sole discretion.

 

(c)         Reduction
of Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date or earlier termination thereof pursuant
to the terms of this Agreement. Borrowers may reduce the Revolver Commitments, without premium or penalty, to an amount (which
may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Revolving Loans
not yet made as to which a request has been given by Borrowers under Section 2.3(a), plus (C) the amount of all Letters
of Credit not yet issued as to which a request has been given by Borrowers pursuant to Section 2.11(a). Each such reduction
shall be in an amount which is not less than $5,000,000 (unless the Revolver Commitments are being reduced to zero and the amount
of the Revolver Commitments in effect immediately prior to such reduction are less than $5,000,000), shall be made by providing
not less than ten (10) Business Days prior written notice to Agent, shall be irrevocable. Once reduced, the Revolver Commitments
may not be increased. Each such reduction of the Revolver Commitments shall reduce the UK Revolver Commitments and US Revolver
Commitments of each Lender proportionately in accordance with its ratable share thereof. In connection with any reduction in the
Revolver Commitments prior to the Maturity Date, if any Loan Party or any of its Subsidiaries owns any Margin Stock, Borrowers
shall deliver to Agent an updated Form U-1 (with sufficient additional originals thereof for each Lender), duly executed and delivered
by the Borrowers, together with such other documentation as Agent shall reasonably request, in order to enable Agent and the Lenders
to comply with any of the requirements of Regulations T, U or X of the Federal Reserve Board.

 

(d)         Optional
Prepayments of Revolving Loans. Borrowers may prepay the principal of any Revolving Loan at any time in whole or in part, without
premium or penalty but subject to any Funding Losses pursuant to Section 2.12(b)(ii) and Agent shall apply such prepayments
to the US Revolving Loans, the UK Revolving Loans, or all of them, as directed by the applicable Borrowers in writing at the time
of payment so long as no Application Event has occurred or is continuing.

 

    	 	20	 

     

    

 

(e)         Mandatory
Prepayments.

 

(i)          Borrowing
Base. If, at any time, (A) (1) the US Revolver Usage on such date exceeds either (x) the US Maximum Revolver Amount or (y)
the US Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (2) the US
Revolver Usage on such date plus the UK Revolver Usage on such date exceeds the Maximum Revolver Amount, then in each case, US
Borrowers shall immediately prepay the Obligations in accordance with Section 2.4(f)(i) in an aggregate amount equal to
the amount of such excess or (B) the Dollar Equivalent of the UK Revolver Usage on such date exceeds any of the (x) the UK Maximum
Revolver Amount or (y) the UK Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to
Agent or (z) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section
2.1(e), then Borrowers shall immediately (but in any event within one (1) Business Day) prepay the Obligations in accordance
with Section 2.4(f) in an aggregate amount equal to the amount of such excess.

 

(ii)         Proceeds
of Collateral. At any time that a US Cash Dominion Period is in effect, within one (1) Business Day of the date of receipt
by Holdings or any of its Subsidiaries of any proceeds of any Collateral securing US Obligations, US Borrowers shall prepay the
outstanding principal amount of the US Obligations in accordance with Section 2.4(f) in an amount equal to 100% of such
proceeds of Collateral received by such Person.

 

(f)          Application
of Payments. (i) Each prepayment pursuant to clauses (i)(A) or (ii) of Section 2.4(e) shall, (A) so long
as no Application Event shall have occurred and be continuing, be applied, first, to the outstanding principal amount of
the US Revolving Loans until paid in full, and second, to cash collateralize the Letters of Credit issued for the account
of US Borrowers in an amount equal to 103% of the then outstanding US Letter of Credit Usage, and (B) if an Application Event shall
have occurred and be continuing, be applied in the manner set forth in Section 2.4(b)(iii).

 

(ii)         Each
prepayment pursuant to clause (i)(B) of Section 2.4(e) shall, (A) so long as no Application Event shall have occurred
and be continuing, be applied first, to the outstanding principal amount of the UK Revolving Loans until paid in full, and
second, to cash collateralize the Letters of Credit issued for the account of UK Borrowers in an amount equal to 103% of
the then outstanding UK Letter of Credit Usage, and (B) if an Application Event shall have occurred and be continuing, be applied
in the manner set forth in Section 2.4(b)(iv).

 

2.5         Promise
to Pay; Promissory Notes.

 

(a)         Borrowers
agree to pay the Lender Group Expenses, after the receipt of a written request thereof, on the earlier of (i) the first day of
the month following the date on which the applicable Lender Group Expenses were first incurred or (ii) two Business Days after
the date on which demand therefor is made by Agent (it being acknowledged and agreed that any charging of such costs, expenses
or Lender Group Expenses to the applicable Loan Account pursuant to the provisions of Section 2.6(d) shall be deemed to
constitute a demand for payment thereof for the purposes of this subclause (ii)). US Borrowers promise to pay all of the
US Obligations (including principal, interest, premiums, if any, fees, costs, and expenses (including Lender Group Expenses)) in
full on the Maturity Date or, if earlier, on the date on which the US Obligations (other than the US Bank Product Obligations)
become due and payable pursuant to the terms of this Agreement. UK Borrowers promise to pay all of the UK Obligations (including
principal, interest, premiums, if any, fees, costs, and expenses (including Lender Group Expenses)) in full on the Maturity Date
or, if earlier, on the date on which the UK Obligations (other than the UK Bank Product Obligations) become due and payable pursuant
to the terms of this Agreement. Borrowers agree that their obligations contained in the first sentence of this Section 2.5(a)
shall survive payment or satisfaction in full of all other Obligations.

 

    	 	21	 

     

    

 

(b)          Any
Lender may request that any portion of its Commitments or the Loans made by it be evidenced by one or more promissory notes. In
such event, the applicable Borrowers shall execute and deliver to such Lender the requested promissory notes payable to the order
of such Lender in a form furnished by Agent and reasonably satisfactory to Borrowers. Thereafter, the portion of the Commitments
and Loans evidenced by such promissory notes and interest thereon shall at all times be represented by one or more promissory notes
in such form payable to the order of the payee named therein.

 

2.6         Interest
Rates and Letter of Credit Fee: Rates, Payments, and Calculations.

 

(a)         Interest
Rates. Except as provided in Section 2.6(c):

 

(i)          all
US Obligations (except for undrawn Letters of Credit) that have been charged to the US Loan Account pursuant to the terms hereof
shall bear interest as follows:

 

(A)         if
the relevant US Obligation is a LIBOR Rate Loan, at a per annum rate equal to the applicable LIBOR Rate plus the
LIBOR Rate Margin, and

 

(B)         if
the relevant Obligation is Base Rate Loan, at a per annum rate equal to the Base Rate plus the Base Rate Margin;
and

 

(ii)         all
UK Obligations that have been charged to the UK Loan Account pursuant to the terms hereof shall bear interest at a rate per
annum equal to the applicable LIBOR Rate plus the LIBOR Rate Margin.

 

(b)         Letter
of Credit Fee. Borrowers shall pay Agent (for the ratable benefit of the Revolving Lenders), a Letter of Credit fee (the “Letter
of Credit Fee”) (which fee shall be in addition to the fronting fees and commissions, other fees, charges and expenses
set forth in Section 2.11(k)) that shall accrue at a per annum rate equal to the LIBOR Rate Margin times the average
amount of the Letter of Credit Usage during the immediately preceding month.

 

(c)         Default
Rate. Automatically upon the occurrence and during the continuation of a Specified Event of Default of the type referred to
in clause (d) or (e) of the definition thereof and, otherwise at the election of Agent or the Required Lenders upon
the occurrence and during the continuation of a Specified Event of Default of the type referred to in clause (a) of the
definition thereof,

 

(i)          all
Obligations (except for undrawn Letters of Credit) that have been charged to the applicable Loan Account pursuant to the terms
hereof shall bear interest at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable
thereunder; provided that notwithstanding any other provision herein, all amounts outstanding in excess of the Aggregate
Borrowing Base shall automatically bear interest at a per annum rate equal to 2 percentage points above the per annum rate
otherwise applicable thereunder notwithstanding any election by Agent or the Required Lenders, and

 

(ii)         the
Letter of Credit Fee shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder.

 

    	 	22	 

     

    

 

(d)         Payment.
Except to the extent provided to the contrary in Section 2.10, Section 2.11(k) or Section 2.12(a), (i)
all interest, all Letter of Credit Fees, all fronting fees and all commissions, other fees, charges, and expenses provided for
in Section 2.11(k), and all other fees payable hereunder or under any of the other Loan Documents shall be due and payable,
in arrears, on the first day of each month and (ii) all costs and expenses payable hereunder or under any of the other Loan Documents,
and all other Lender Group Expenses shall be due and payable on (x) with respect to Lender Group Expenses as of the Closing Date,
to the extent invoiced at least three (3) Business Days prior to the Closing Date or such later date to which the Borrowers may
agree, the Closing Date, and (y) otherwise, the earlier of (A) the first day of the month following the date on which the applicable
costs, expenses, or Lender Group Expenses were first incurred or (B) the date on which demand therefor is made by Agent (it being
acknowledged and agreed that any charging of such costs, expenses or Lender Group Expenses to the applicable Loan Account pursuant
to the provisions of the following sentence shall be deemed to constitute a demand for payment thereof for the purposes of this
subclause (y)). Borrowers hereby authorize Agent, from time to time without prior notice to Borrowers, to charge to the
applicable Loan Account (A) on the first day of each month, all interest accrued during the prior month on the Revolving Loans
hereunder, (B) on the first Business Day of each month, all Letter of Credit Fees accrued or chargeable hereunder during the prior
month, (C) as and when incurred or accrued, all fees and costs provided for in Section 2.10(a) or (c), (D) on the
first day of each month, the Unused Line Fee accrued during the prior month pursuant to Section 2.10(b), (E) as and when
due and payable, all other fees payable hereunder or under any of the other Loan Documents, (F) on the Closing Date and thereafter,
as and when incurred or accrued, all other Lender Group Expenses, and (G) as and when due and payable all other payment obligations
payable under any Loan Document or any Bank Product Agreement (including any amounts due and payable to the Bank Product Providers
in respect of Bank Products). All amounts (including interest, fees, costs, expenses, Lender Group Expenses, or other amounts payable
hereunder or under any other Loan Document or under any Bank Product Agreement) charged to any Loan Account shall thereupon constitute
US Revolving Loans or UK Revolving Loans, as the case may be, shall constitute Obligations hereunder, and shall initially accrue
interest at the rate then applicable to UK Revolving Loans or, in respect of US Revolving Loans that are Base Rate Loans (unless
and until converted into LIBOR Rate Loans in accordance with the terms of this Agreement).

 

(e)         Computation.
All interest and fees chargeable under the Loan Documents shall be computed on the basis of a 360-day year (other than computations
made in respect of the Base Rate which will be made on the basis of a 365-day or 366-day year, as the case may be), in each case,
for the actual number of days elapsed in the period during which the interest or fees accrue, other than for UK Revolving Loans
denominated in GBP, which shall be calculated on the basis of a 365 day year for the actual days elapsed. In the event the Base
Rate is changed from time to time hereafter, the rates of interest hereunder based upon the Base Rate automatically and immediately
shall be increased or decreased by an amount equal to such change in the Base Rate.

 

(f)          Intent
to Limit Charges to Maximum Lawful Rate. In no event shall the interest rate or rates payable under this Agreement, plus any
other amounts paid in connection herewith, exceed the highest rate permissible under any law that a court of competent jurisdiction
shall, in a final determination, deem applicable. Borrowers and the Lender Group, in executing and delivering this Agreement, intend
legally to agree upon the rate or rates of interest and manner of payment stated within it; provided, that, anything contained
herein to the contrary notwithstanding, if such rate or rates of interest or manner of payment exceeds the maximum allowable under
applicable law, then, ipso facto, as of the date of this Agreement, Borrowers are and shall be liable only for the payment
of such maximum amount as is allowed by law, and payment received from Borrowers in excess of such legal maximum, whenever received,
shall be applied to reduce the principal balance of the Obligations to the extent of such excess.

 

    	 	23	 

     

    

 

2.7         Crediting
Payments. The receipt of any payment item by Agent shall not be required to be considered a payment on account unless such
payment item is a wire transfer of immediately available funds in the Applicable Currency made to Agent’s Applicable Account
or unless and until such payment item is honored when presented for payment. Should any payment item not be honored when presented
for payment, then Borrowers shall be deemed not to have made such payment. Anything to the contrary contained herein notwithstanding,
any payment item shall be deemed received by Agent only if it is received into Agent’s Applicable Account on a Business Day
on or before 1:30 p.m. (or 3:30 p.m. (London time) in the case of payment item received into Agent’s UK Account). If any
payment item is received into Agent’s Applicable Account on a non-Business Day or after 1:30 p.m. (or 3:30 p.m. (London Time)
in the case of payments items received into Agent’s UK Account) on a Business Day (unless Agent, in its sole discretion,
elects to credit it on the date received), it shall be deemed to have been received by Agent as of the opening of business on the
immediately following Business Day.

 

2.8         Designated
Account. Agent is authorized to make the US Revolving Loans, and Issuing Bank is authorized to issue the Letters of Credit,
under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized Person of
US Administrative Borrower or, without instructions, if pursuant to Section 2.6(d). Agent is authorized to make the UK Revolving
Loans under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized Person
of UK Administrative Borrower or, without instructions, if pursuant to Section 2.6(d). US Borrowers agree to establish and maintain
the US Designated Account with the US Designated Account Bank for the purpose of receiving the proceeds of the US Revolving Loans
requested by US Borrowers and made by Agent or the Lenders hereunder. UK Borrowers agrees to establish and maintain the UK Designated
Account with the UK Designated Account Bank for the purpose of receiving the proceeds of the UK Revolving Loans requested by UK
Borrowers and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Borrowers, any Revolving Loan or Swing
Loan requested by Borrowers and made by Agent or the Lenders hereunder shall be made to the applicable Designated Account.

 

2.9         Maintenance
of Loan Account; Statements of Obligations. Agent shall maintain (a) an account on its books in the name of US Borrowers
(the “US Loan Account”) on which US Borrowers will be charged with all US Revolving Loans (including Extraordinary
Advances and Swing Loans) made by Agent, Swing Lender, or the Lenders to US Borrowers or for US Borrowers’ account, the Letters
of Credit issued or arranged by Issuing Bank for US Borrowers’ account, and with all other payment US Obligations hereunder
or under the other Loan Documents, including, accrued interest, fees and expenses, and Lender Group Expenses with respect thereto,
and (b) an account on its books in the name of UK Borrowers (the “UK Loan Account”) on which UK Borrowers will
be charged with and all UK Revolving Loans made by Agent or the Lenders to UK Borrowers or for UK Borrowers’ account, the
Letters of Credit issued or arranged by Issuing Bank for UK Borrowers’ account, and with all other payment UK Obligations
hereunder or under the other Loan Documents, including, accrued interest, fees and expenses, and Lender Group Expenses with respect
thereto. In accordance with Section 2.7, the applicable Loan Account will be credited with all payments received by Agent
from Borrowers or for Borrowers’ account. Agent shall make available to US Administrative Borrower or UK Administrative Borrower,
as applicable, monthly statements regarding the applicable Loan Account, including the principal amount of the applicable Revolving
Loans, interest accrued hereunder, fees accrued or charged hereunder or under the other Loan Documents, and a summary itemization
of all charges and expenses constituting Lender Group Expenses accrued hereunder or under the other Loan Documents, and each such
statement, absent manifest error, shall be conclusively presumed to be correct and accurate and constitute an account stated between
the applicable Borrowers and the Lender Group unless, within 30 days after Agent first makes such a statement available to US Administrative
Borrower or UK Administrative Borrower, as the case may be Borrowers, shall deliver to Agent written objection thereto describing
the error or errors contained in such statement.

 

    	 	24	 

     

    

 

2.10       Fees.

 

(a)         Agent
Fees. Borrowers shall pay to Agent, for the account of Agent, as and when due and payable under the terms of the Fee Letter,
the fees set forth in the Fee Letter.

 

(b)         Unused
Line Fee. Borrowers shall pay to Agent, for the ratable account of the Revolving Lenders, an unused line fee (the “Unused
Line Fee”) in an amount equal to (i) the Applicable Unused Line Fee Percentage per annum times (ii) the result
of (x) the aggregate amount of the Maximum Revolver Amount, less (y) the Quarterly Average Revolver Usage during the immediately
preceding three month period (or portion thereof), which Unused Line Fee shall be due and payable on the first day of each month
from and after the Closing Date up to the first day of the month prior to the date on which the Obligations are paid in full and
on the date on which the Obligations are paid in full.

 

(c)         Field
Examination and Other Fees. Borrowers shall pay to Agent, field examination, appraisal, and valuation fees and charges, as
and when incurred or chargeable, as follows (i) a fee of $1,000 per day, per examiner, plus out-of-pocket expenses (including
travel, meals, and lodging) for each field examination of any Borrower performed by personnel employed by Agent, and (ii) the fees,
charges or expenses paid or incurred by Agent (but, in any event, no less than a charge of $1,000 per day, per Person, plus out-of-pocket
expenses (including travel, meals, and lodging)) if it elects to employ the services of one or more third Persons to perform field
examinations of Holdings or its Subsidiaries, to establish electronic collateral reporting systems, to appraise the Collateral,
or any portion thereof, or to assess any Borrower’s or its Subsidiaries’ business valuation; provided, that
so long as no Event of Default shall have occurred and be continuing, Borrowers shall not be obligated to reimburse Agent for more
than one (1) field examination and two (2) fleet appraisals (or, if Excess Availability is less than the greater of (x) 15% of
the Line Cap or (y) $5,000,000 for 3 consecutive Business Days, one (1) additional field examination and one (1) additional fleet
appraisal of the Collateral) during any twelve-month period; and provided further, that following the occurrence and during
the continuation of an Event of Default, such field examinations and/or fleet appraisals may be conducted at the Borrowers’
expense as many times as Agent shall consider reasonably necessary. Inventory appraisals shall be conducted in Agent’s reasonable
discretion, provided that, so long as no Event of Default shall have occurred and be continuing, the Borrowers shall not
be obligated to reimburse Agent for more than one (1) Inventory appraisal during any calendar year.

 

2.11       Letters
of Credit.

 

(a)         Subject
to the terms and conditions of this Agreement, upon the request of US Borrowers made in accordance herewith, and prior to the Maturity
Date, US Issuing Bank agrees to issue a requested standby Letter of Credit or a sight commercial Letter of Credit for the account
of US Borrowers in Dollars, and UK Issuing Bank agrees to issue a requested standby Letter of Credit or a sight Letter of Credit
for the account of the UK Borrowers in an Applicable Currency (which UK Borrowers acknowledge that the UK Issuing Bank may at its
option arrange for the issue of such Letter of Credit through one of its Affiliates. If such Letter of Credit is arranged through
an Affiliate of a UK Issuing Bank then in such event (i) such UK Borrower authorizes the UK Issuing Bank to provide such counter-indemnities
and other undertakings as the issuing institution may require and (ii) the indemnities and other protections granted to the UK
Issuing Bank pursuant to this Agreement shall apply equally to the counter-indemnities and other undertakings so given by the UK
Issuing Bank to the issuing institution). By submitting a request to an Issuing Bank for the issuance of a Letter of Credit, US
Borrowers or the UK Borrowers, as applicable, shall be deemed to have requested that Issuing Bank issue the requested Letter of
Credit. Each request for the issuance of a Letter of Credit, or the amendment, renewal, or extension of any outstanding Letter
of Credit, shall be (x) irrevocable and made in writing by an Authorized Person of US Administrative Borrower or UK Administrative
Borrower, (y) delivered to Agent and Issuing Bank via telefacsimile or other electronic method of transmission reasonably acceptable
to Agent and Issuing Bank and reasonably in advance of the requested date of issuance, amendment, renewal, or extension, and (z)
subject to Issuing Bank’s authentication procedures with results satisfactory to Issuing Bank. Each such request shall be
in form and substance reasonably satisfactory to Agent and Issuing Bank and (i) shall specify (A) the amount of such Letter of
Credit, (B) the date of issuance, amendment, renewal, or extension of such Letter of Credit, (C) the proposed expiration date of
such Letter of Credit, (D) the name and address of the beneficiary of the Letter of Credit, (E) such other information (including,
the conditions to drawing, and, in the case of an amendment, renewal, or extension, identification of the Letter of Credit to be
so amended, renewed, or extended) as shall be necessary to prepare, amend, renew, or extend such Letter of Credit and (F) whether
such Letter of Credit is for the account of a US Borrower or a UK Borrower, and (ii) shall be accompanied by such Issuer Documents
as Agent or Issuing Bank may request or require, to the extent that such requests or requirements are consistent with the Issuer
Documents that Issuing Bank generally requests for Letters of Credit in similar circumstances. Issuing Bank’s records of
the content of any such request will be conclusive. Anything contained herein to the contrary notwithstanding, Issuing Bank may,
but shall not be obligated to, issue a Letter of Credit that supports the obligations of any Borrower, Holdings or one of its Subsidiaries
in respect of (x) a lease of real property, or (y) an employment contract.

 

    	 	25	 

     

    

 

(b)         Issuing
Bank shall have no obligation to issue a Letter of Credit if any of the following would result after giving effect to the requested
issuance:

 

(i)          the
Letter of Credit Usage would exceed the Letter of Credit Sublimit, or

 

(ii)         the
Letter of Credit Usage would exceed the Maximum Revolver Amount less the sum of (x) the outstanding amount of US Revolving
Loans (including Swing Loans), and (y) the Dollar Equivalent of the outstanding amount of UK Revolving Loans, or

 

(iii)        in
the case of Letters of Credit requested by the US Borrowers, the US Letter of Credit Usage would exceed the US Borrowing Base at
such time less the outstanding principal balance of the US Revolving Loans (inclusive of Swing Loans) at such time or, in
the case of Letters of Credit requested by the UK Borrowers, the UK Letter of Credit Usage would exceed the UK Borrowing Base at
such time less the outstanding principal balance of the UK Revolving Loans.

 

(c)         In
the event there is a Defaulting Lender as of the date of any request for the issuance of a Letter of Credit, Issuing Bank shall
not be required to issue or arrange for such Letter of Credit to the extent (i) the Defaulting Lender’s Letter of Credit
Exposure with respect to such Letter of Credit may not be reallocated pursuant to Section 2.3(g)(iii), or (ii) Issuing Bank
has not otherwise entered into arrangements reasonably satisfactory to it and US Borrowers or UK Borrowers, as applicable to eliminate
Issuing Bank’s risk with respect to the participation in such Letter of Credit of the Defaulting Lender, which arrangements
may include Borrowers cash collateralizing such Defaulting Lender’s Letter of Credit Exposure in accordance with Section
2.3(g)(iii). Additionally, Issuing Bank shall have no obligation to issue or extend a Letter of Credit if (A) any order, judgment,
or decree of any Governmental Authority or arbitrator shall, by its terms, purport to enjoin or restrain Issuing Bank from issuing
such Letter of Credit, or any law applicable to Issuing Bank or any request or directive (whether or not having the force of law)
from any Governmental Authority with jurisdiction over Issuing Bank shall prohibit or request that Issuing Bank refrain from the
issuance of letters of credit generally or such Letter of Credit in particular, or (B) the issuance of such Letter of Credit would
violate one or more policies of Issuing Bank applicable to letters of credit generally.

 

    	 	26	 

     

    

 

(d)         Any
Issuing Bank (other than Wells Fargo or any of its Affiliates) shall notify Agent in writing no later than the Business Day prior
to the Business Day on which such Issuing Bank issues any Letter of Credit. In addition, each Issuing Bank (other than Wells Fargo
or any of its Affiliates) shall, on the first Business Day of each week, submit to Agent a report detailing the daily undrawn amount
of each Letter of Credit issued by such Issuing Bank during prior calendar week. Borrowers and the Lender Group hereby acknowledge
and agree that all Existing Letters of Credit shall constitute Letters of Credit under this Agreement on and after the Closing
Date with the same effect as if such Existing Letters of Credit were issued by Issuing Bank at the request of Borrowers on the
Closing Date. Each Letter of Credit shall be in form and substance reasonably acceptable to Issuing Bank, including the requirement
that the amounts payable thereunder must be payable in Dollars or GBP, as applicable. If Issuing Bank makes a payment under a Letter
of Credit, US Borrowers or UK Borrowers, as applicable shall pay to Agent an amount in Dollars equal to the Dollar Equivalent of
the applicable Letter of Credit Disbursement on the Business Day such Letter of Credit Disbursement is made and, in the absence
of such payment, the Dollar Equivalent amount of the Letter of Credit Disbursement immediately and automatically shall be deemed
to be a US Revolving Loan or a UK Revolving Loan, as applicable, hereunder (notwithstanding any failure to satisfy any condition
precedent set forth in Section 3) and, initially, shall bear interest at the rate then applicable to US Revolving Loans
that are Base Rate Loans in the case of Letter of Credit requested by US Borrowers. If a Letter of Credit Disbursement is deemed
to be a US Revolving Loan or UK Revolving Loan hereunder, US Borrowers’ or UK Borrowers’ obligation to pay the amount
of such Letter of Credit Disbursement to Issuing Bank shall be automatically converted into an obligation to pay the resulting
Revolving Loan. Promptly following receipt by Agent of any payment from US Borrowers or UK Borrowers pursuant to this paragraph,
Agent shall distribute such payment to the applicable Issuing Bank or, to the extent that Revolving Lenders have made payments
pursuant to Section 2.11(e) to reimburse Issuing Bank, then to such Revolving Lenders and Issuing Bank as their interests
may appear.

 

(e)          Promptly
following receipt of a notice of a Letter of Credit Disbursement pursuant to Section 2.11(d), (i) each US Revolving Lender
agrees to fund its Pro Rata Share of any US Revolving Loan deemed made pursuant to Section 2.11(d) on the same terms and
conditions as if US Borrowers had requested the amount thereof as a US Revolving Loan and (ii) each UK Revolving Lender agrees
to fund its Pro Rata Share of any UK Revolving Loan deemed made pursuant to Section 2.11(d) on the same terms and conditions
as if UK Borrowers had requested the amount thereof as a UK Revolving Loan, and, in each case Agent shall promptly pay to the applicable
Issuing Bank the amounts so received by it from the US Revolving Lenders or UK Revolving Lenders. By the issuance of a Letter of
Credit (or an amendment, renewal, or extension of a Letter of Credit) and without any further action on the part of Issuing Bank
or the Revolving Lenders, the applicable Issuing Bank shall be deemed to have granted to each Revolving Lender with a US Revolver
Commitment or to each Revolving Lender with a UK Revolver Commitment, as applicable, and each such Revolving Lender shall be deemed
to have purchased, a participation in each applicable Letter of Credit issued by the applicable Issuing Bank, in an amount equal
to its Pro Rata Share of such Letter of Credit, and each such Revolving Lender agrees to pay to Agent, for the account of Issuing
Bank, such Revolving Lender’s Pro Rata Share of any Letter of Credit Disbursement made by Issuing Bank under the applicable
Letter of Credit. In consideration and in furtherance of the foregoing, (i) each US Revolving Lender hereby absolutely and unconditionally
agrees to pay to Agent, for the account of Issuing Bank, such Revolving Lender’s Pro Rata Share of each Letter of Credit
Disbursement made by Issuing Bank and not reimbursed by US Borrowers on the date due as provided in Section 2.11(d), and
(ii) each UK Revolving Lender hereby absolutely and unconditionally agrees to pay to Agent, for the account of Issuing Bank, such
Revolving Lender’s Pro Rata Share of each Letter of Credit Disbursement made by Issuing Bank and not reimbursed by UK Borrowers
on the date due as provided in Section 2.11(d), or, in each case, of any reimbursement payment that is required to be refunded
(or that Agent or Issuing Bank elects, based upon the advice of counsel, to refund) to the UK Borrowers or the UK Borrowers for
any reason. Each Revolving Lender acknowledges and agrees that its obligation to deliver to Agent, for the account of Issuing Bank,
an amount equal to its respective Pro Rata Share of each Letter of Credit Disbursement pursuant to this Section 2.11(e)
shall be absolute and unconditional and such remittance shall be made notwithstanding the occurrence or continuation of an Event
of Default or Default or the failure to satisfy any condition set forth in Section 3. If any such Revolving Lender fails
to make available to Agent the amount of such Revolving Lender’s Pro Rata Share of a Letter of Credit Disbursement as provided
in this Section, such Revolving Lender shall be deemed to be a Defaulting Lender and Agent (for the account of Issuing Bank) shall
be entitled to recover such amount on demand from such Revolving Lender together with interest thereon at the Defaulting Lender
Rate until paid in full.

 

    	 	27	 

     

    

 

(f)          Each
US Borrower (in the case of Letters of Credit requested by a US Borrower) and each UK Borrower (in the case of a Letters of Credit
requested by a UK Borrower) agrees to indemnify, defend and hold harmless each member of the Lender Group (including the applicable
Issuing Bank and its branches, Affiliates, and correspondents) and each such Person’s respective directors, officers, employees,
attorneys and agents (each, including Issuing Bank, a “Letter of Credit Related Person”) (to the fullest extent
permitted by law) from and against any and all claims, demands, suits, actions, investigations, proceedings, liabilities, fines,
costs, penalties, and damages, and all reasonable fees and disbursements of attorneys, experts, or consultants and all other costs
and expenses actually incurred in connection therewith or in connection with the enforcement of this indemnification (as and when
they are incurred and irrespective of whether suit is brought), which may be incurred by or awarded against any such Letter of
Credit Related Person (other than Taxes which shall be governed by Section 16) (the “Letter of Credit Indemnified
Costs”), and which arise out of or in connection with, or as a result of:

 

(i)          any
Letter of Credit or any pre-advice of its issuance;

 

(ii)         any
transfer, sale, delivery, surrender or endorsement (or lack thereof) of any Drawing Document at any time(s) held by any such Letter
of Credit Related Person in connection with any Letter of Credit;

 

(iii)        any
action or proceeding arising out of, or in connection with, any Letter of Credit (whether administrative, judicial or in connection
with arbitration), including any action or proceeding to compel or restrain any presentation or payment under any Letter of Credit,
or for the wrongful dishonor of, or honoring a presentation under, any Letter of Credit;

 

(iv)        any
independent undertakings issued by the beneficiary of any Letter of Credit;

 

(v)         any
unauthorized instruction or request made to Issuing Bank in connection with any Letter of Credit or requested Letter of Credit,
or any error, omission, interruption or delay in such instruction or request, whether transmitted by mail, courier, electronic
transmission, SWIFT, or any other telecommunication including communications through a correspondent;

 

(vi)        an
adviser, confirmer or other nominated person seeking to be reimbursed, indemnified or compensated;

 

(vii)       any
third party seeking to enforce the rights of an applicant, beneficiary, nominated person, transferee, assignee of Letter of Credit
proceeds or holder of an instrument or document;

 

(viii)      the
fraud, forgery or illegal action of parties other than the Letter of Credit Related Person;

 

    	 	28	 

     

    

 

(ix)        any
prohibition on payment or delay in payment of any amount payable by Issuing Bank to a beneficiary or a transferee beneficiary of
a Letter of Credit arising out of Anti-Corruption Laws, Anti-Money Laundering Laws, or Sanctions;

 

(x)         Issuing
Bank’s performance of the obligations of a confirming institution or entity that wrongfully dishonors a confirmation;

 

(xi)        any
foreign language translation provided to Issuing Bank in connection with any Letter of Credit;

 

(xii)       any
foreign law or usage as it relates to Issuing Bank’s issuance of a Letter of Credit in support of a foreign guaranty including
the expiration of such guaranty after the related Letter of Credit expiration date and any resulting drawing paid by Issuing Bank
in connection therewith; or

 

(xiii)      the
acts or omissions, whether rightful or wrongful, of any present or future de jure or de facto governmental or regulatory authority
or cause or event beyond the control of the Letter of Credit Related Person;

 

provided that that such indemnity
shall not be available to any Letter of Credit Related Person claiming indemnification under clauses (i) through (xiii)
above to the extent that such Letter of Credit Indemnified Costs may be finally determined in a final, non-appealable judgment
of a court of competent jurisdiction to have resulted directly from the gross negligence or willful misconduct of the Letter of
Credit Related Person claiming indemnity. US Borrowers and UK Borrowers, as applicable hereby agree to pay the Letter of Credit
Related Person claiming indemnity on demand from time to time all amounts owing under this Section 2.11(f). If and to the
extent that the obligations of US Borrowers and/or the UK Borrowers under this Section 2.11(f) are unenforceable for any
reason, US Borrowers and/or the UK Borrowers agree to make the maximum contribution to the Letter of Credit Indemnified Costs permissible
under applicable law. This indemnification provision shall survive termination of this Agreement and all Letters of Credit.

 

(g)         The
liability of Issuing Bank (or any other Letter of Credit Related Person) under, in connection with or arising out of any Letter
of Credit (or pre-advice), regardless of the form or legal grounds of the action or proceeding, shall be limited to direct damages
suffered by US Borrowers or UK Borrowers, as applicable that are caused directly by Issuing Bank’s gross negligence or willful
misconduct in (i) honoring a presentation under a Letter of Credit that on its face does not at least substantially comply with
the terms and conditions of such Letter of Credit, (ii) failing to honor a presentation under a Letter of Credit that strictly
complies with the terms and conditions of such Letter of Credit or (iii) retaining Drawing Documents presented under a Letter of
Credit. US Borrowers’ and UK Borrowers’ aggregate remedies against Issuing Bank and any Letter of Credit Related Person
for wrongfully honoring a presentation under any Letter of Credit or wrongfully retaining honored Drawing Documents shall in no
event exceed the aggregate amount paid by US Borrowers or UK Borrowers, as applicable to Issuing Bank in respect of the honored
presentation in connection with such Letter of Credit under Section 2.11(d), plus interest at the rate then applicable to
Base Rate Loans hereunder. US Borrowers and UK Borrowers shall take action to avoid and mitigate the amount of any damages claimed
against Issuing Bank or any other Letter of Credit Related Person, including by enforcing its rights against the beneficiaries
of the Letters of Credit. Any claim by US Borrowers and/or UK Borrowers under or in connection with any Letter of Credit shall
be reduced by an amount equal to the sum of (x) the amount (if any) saved by US Borrowers and/or UK Borrowers as a result of the
breach or alleged wrongful conduct complained of; and (y) the amount (if any) of the loss that would have been avoided had US Borrowers
and/or UK Borrowers taken all reasonable steps to mitigate any loss, and in case of a claim of wrongful dishonor, by specifically
and timely authorizing Issuing Bank to effect a cure.

 

    	 	29	 

     

    

 

(h)         US
Borrowers and/or UK Borrowers are responsible for the final text of the Letter of Credit as issued by Issuing Bank, irrespective
of any assistance Issuing Bank may provide such as drafting or recommending text or by Issuing Bank’s use or refusal to use
text submitted by US Borrowers and/or UK Borrowers. US Borrowers and/or UK Borrowers understand that the final form of any Letter
of Credit may be subject to such revisions and changes as are deemed necessary or appropriate by Issuing Bank, and US Borrowers
and/or UK Borrowers hereby consent to such revisions and changes not materially different from the application executed in connection
therewith. Borrowers are solely responsible for the suitability of the Letter of Credit for the US Borrowers’ and/or UK Borrowers’
purposes. If US Borrowers and/or UK Borrowers request Issuing Bank to issue a Letter of Credit for an affiliated or unaffiliated
third party (an “Account Party”), (i) such Account Party shall have no rights against Issuing Bank; (ii) US
Borrowers and/or UK Borrowers shall be responsible for the application and obligations under this Agreement, and (iii) communications
(including notices) related to the respective Letter of Credit shall be among Issuing Bank and the Borrowers. Borrowers will examine
the copy of the Letter of Credit and any other documents sent by Issuing Bank in connection therewith and shall promptly notify
(not later than three (3) Business Days following US Borrowers’ and/or UK Borrowers’ receipt of documents from Issuing
Bank) of any non-compliance with US Borrowers’ and/or UK Borrowers’ instructions and of any discrepancy in any document
under any presentment or other irregularity. US Borrowers and/or UK Borrowers understand and agree that Issuing Bank is not required
to extend the expiration date of any Letter of Credit for any reason. With respect to any Letter of Credit containing an “automatic
amendment” to extend the expiration date of such Letter of Credit, Issuing Bank, in its sole and absolute discretion, may
give notice of nonrenewal of such Letter of Credit and, if US Borrowers and/or UK Borrowers do not at any time want the then current
expiration date of such Letter of Credit to be extended, Borrowers will so notify Agent and Issuing Bank at least thirty (30) calendar
days before Issuing Bank is required to notify the beneficiary of such Letter of Credit or any advising bank of such non-extension
pursuant to the terms of such Letter of Credit.

 

(i)         Borrowers’
reimbursement and payment obligations under this Section 2.11 are absolute, unconditional and irrevocable and shall be performed
strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever, including:

 

(i)          any
lack of validity, enforceability or legal effect of any Letter of Credit, any Issuer Document, this Agreement or any Loan Document,
or any term or provision therein or herein;

 

(ii)         payment
against presentation of any draft, demand or claim for payment under any Drawing Document that does not comply in whole or in part
with the terms of the applicable Letter of Credit or which proves to be fraudulent, forged or invalid in any respect or any statement
therein being untrue or inaccurate in any respect, or which is signed, issued or presented by a Person or a transferee of such
Person purporting to be a successor or transferee of the beneficiary of such Letter of Credit;

 

(iii)        Issuing
Bank or any of its branches or Affiliates being the beneficiary of any Letter of Credit;

 

(iv)        Issuing
Bank or any correspondent honoring a drawing against a Drawing Document up to the amount available under any Letter of Credit even
if such Drawing Document claims an amount in excess of the amount available under the Letter of Credit;

 

    	 	30	 

     

    

 

(v)         the
existence of any claim, set-off, defense or other right that any Loan Party or any of its Subsidiaries may have at any time against
any beneficiary or transferee beneficiary, any assignee of proceeds, Issuing Bank or any other Person;

 

(vi)        Issuing
Bank or any correspondent honoring a drawing upon receipt of an electronic presentation under a Letter of Credit requiring the
same, regardless of whether the original Drawing Documents arrive at Issuing Bank’s counters or are different from the electronic
presentation;

 

(vii)       any
other event, circumstance or conduct whatsoever, whether or not similar to any of the foregoing that might, but for this Section
2.11(i), constitute a legal or equitable defense to or discharge of, or provide a right of set-off against, any Borrower’s
or any of its Subsidiaries’ reimbursement and other payment obligations and liabilities, arising under, or in connection
with, any Letter of Credit, whether against Issuing Bank, the beneficiary or any other Person; or

 

(viii)      the
fact that any Default or Event of Default shall have occurred and be continuing;

 

provided, however, that subject
to Section 2.11(g) above, the foregoing shall not release Issuing Bank from such liability to US Borrowers and/or UK Borrowers
as may be finally determined in a final, non-appealable judgment of a court of competent jurisdiction against Issuing Bank following
reimbursement or payment of the obligations and liabilities, including reimbursement and other payment obligations, of US Borrowers
and/or UK Borrowers to Issuing Bank arising under, or in connection with, this Section 2.11 or any Letter of Credit.

 

(j)          Without
limiting any other provision of this Agreement, Issuing Bank and each other Letter of Credit Related Person (if applicable) shall
not be responsible to US Borrowers for, and Issuing Bank’s rights and remedies against US Borrowers or UK Borrowers and the
obligation of US Borrowers to reimburse Issuing Bank for each drawing under each Letter of Credit shall not be impaired by:

 

(i)          honor
of a presentation under any Letter of Credit that on its face substantially complies with the terms and conditions of such Letter
of Credit, even if the Letter of Credit requires strict compliance by the beneficiary;

 

(ii)         honor
of a presentation of any Drawing Document that appears on its face to have been signed, presented or issued (A) by any purported
successor or transferee of any beneficiary or other Person required to sign, present or issue such Drawing Document or (B) under
a new name of the beneficiary;

 

(iii)        acceptance
as a draft of any written or electronic demand or request for payment under a Letter of Credit, even if nonnegotiable or not in
the form of a draft or notwithstanding any requirement that such draft, demand or request bear any or adequate reference to the
Letter of Credit;

 

(iv)        the
identity or authority of any presenter or signer of any Drawing Document or the form, accuracy, genuineness or legal effect of
any Drawing Document (other than Issuing Bank’s determination that such Drawing Document appears on its face substantially
to comply with the terms and conditions of the Letter of Credit);

 

(v)         acting
upon any instruction or request relative to a Letter of Credit or requested Letter of Credit that Issuing Bank in good faith believes
to have been given by a Person authorized to give such instruction or request;

 

    	 	31	 

     

    

 

(vi)       any
errors, omissions, interruptions or delays in transmission or delivery of any message, advice or document (regardless of how sent
or transmitted) or for errors in interpretation of technical terms or in translation or any delay in giving or failing to give
notice to any Borrower;

 

(vii)       any
acts, omissions or fraud by, or the insolvency of, any beneficiary, any nominated person or entity or any other Person or any breach
of contract between any beneficiary and any US Borrower or any of the parties to the underlying transaction to which the Letter
of Credit relates;

 

(viii)     assertion
or waiver of any provision of the ISP or UCP that primarily benefits an issuer of a letter of credit, including any requirement
that any Drawing Document be presented to it at a particular hour or place;

 

(ix)        payment
to any presenting bank (designated or permitted by the terms of the applicable Letter of Credit) claiming that it rightfully honored
or is entitled to reimbursement or indemnity under Standard Letter of Credit Practice applicable to it;

 

(x)         acting
or failing to act as required or permitted under Standard Letter of Credit Practice applicable to where Issuing Bank has issued,
confirmed, advised or negotiated such Letter of Credit, as the case may be;

 

(xi)        honor
of a presentation after the expiration date of any Letter of Credit notwithstanding that a presentation was made prior to such
expiration date and dishonored by Issuing Bank if subsequently Issuing Bank or any court or other finder of fact determines such
presentation should have been honored;

 

(xii)        dishonor
of any presentation that does not strictly comply or that is fraudulent, forged or otherwise not entitled to honor; or

 

(xiii)       honor
of a presentation that is subsequently determined by Issuing Bank to have been made in violation of international, federal, state
or local restrictions on the transaction of business with certain prohibited Persons.

 

(k)         US
Borrowers and/or UK Borrowers shall pay immediately upon demand to Agent for the account of Issuing Bank as non-refundable fees,
commissions, and charges (it being acknowledged and agreed that any charging of such fees, commissions, and charges to the US Loan
Account or UK Loan Account pursuant to the provisions of Section 2.6(d) shall be deemed to constitute a demand for payment
thereof for the purposes of this Section 2.11(k)): (i) a fronting fee which shall be imposed by Issuing Bank upon the issuance
of each Letter of Credit of 0.125% per annum times the average amount of Letter of Credit Usage during the immediately preceding
month (or portion thereof), plus (ii) any and all other customary commissions, fees and charges then in effect imposed
by, and any and all expenses incurred by, Issuing Bank, or by any adviser, confirming institution or entity or other nominated
person, relating to Letters of Credit, at the time of issuance of any Letter of Credit and upon the occurrence of any other activity
with respect to any Letter of Credit (including transfers, assignments of proceeds, amendments, drawings, renewals or cancellations).

 

(l)          If
by reason of (x) any Change in Law, or (y) compliance by Issuing Bank or any other member of the Lender Group with any direction,
request, or requirement (irrespective of whether having the force of law) of any Governmental Authority or monetary authority including,
Regulation D of the Board of Governors as from time to time in effect (and any successor thereto):

 

    	 	32	 

     

    

 

(i)          any
reserve, deposit, or similar requirement is or shall be imposed or modified in respect of any Letter of Credit issued or caused
to be issued hereunder or hereby, or any Loans or obligations to make Loans hereunder or hereby,

 

(ii)         any
Taxes shall be imposed (other than (A) Indemnified Taxes, (B) Taxes described in clauses (ii) through (iv) of the definition of
Excluded Taxes and (C) Taxes imposed as a result of a present or former connection between such Recipient and the jurisdiction
imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a party to, performed
its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction
pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document) that are imposed on or
measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes) on its loans, loan principal,
Letters of Credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto,
or

 

(iii)        there
shall be imposed on Issuing Bank or any other member of the Lender Group any other condition (other than Taxes) regarding any Letter
of Credit, Loans, or obligations to make Loans hereunder,

 

and the result of the foregoing is to increase,
directly or indirectly, the cost to Issuing Bank or any other member of the Lender Group of issuing, making, participating in,
or maintaining any Letter of Credit or to reduce the amount receivable in respect thereof, then, and in any such case, Agent may,
at any time within a reasonable period after the additional cost is incurred or the amount received is reduced, notify US Borrowers
or UK Borrowers, and US Borrowers or UK Borrowers shall pay within 30 days after demand therefor, such amounts as Agent may specify
to be necessary to compensate Issuing Bank or any other member of the Lender Group for such additional cost or reduced receipt,
together with interest on such amount from the date of such demand until payment in full thereof at the rate then applicable to
Base Rate Loans hereunder; provided, that (A) neither US Borrowers or UK Borrowers shall be required to provide any compensation
pursuant to this Section 2.11(l) for any such amounts incurred more than 180 days prior to the date on which the demand
for payment of such amounts is first made to US Borrowers or UK Borrowers, and (B) if an event or circumstance giving rise to such
amounts is retroactive, then the 180-day period referred to above shall be extended to include the period of retroactive effect
thereof. The determination by Agent of any amount due pursuant to this Section 2.11(l), as set forth in a certificate setting
forth the calculation thereof in reasonable detail, shall, in the absence of manifest or demonstrable error, be final and conclusive,
and binding on all parties hereto.

 

(m)        Each
Letter of Credit shall expire not later than the date that is twelve (12) months after the date of the issuance of such Letter
of Credit; provided, that any Letter of Credit may provide for the automatic extension thereof for any number of additional
periods each of up to one year in duration; provided further, that with respect to any Letter of Credit which extends beyond
the Maturity Date, Letter of Credit Collateralization shall be provided therefor on or before the date that is five (5) Business
Days prior to the Maturity Date. Each commercial Letter of Credit shall expire on the earlier of (i) 120 days after the date of
the issuance of such commercial Letter of Credit and (ii) five (5) Business Days prior to the Maturity Date.

 

    	 	33	 

     

    

 

(n)         If
(i) any Event of Default shall occur and be continuing, or (ii) Excess Availability shall at any time be less than zero, then on
the Business Day following the date when the US Administrative Borrower or UK Administrative Borrower receives notice from Agent
or the Required Lenders (or, if the maturity of the Obligations has been accelerated, Revolving Lenders with Letter of Credit Exposure
representing greater than 50% of the total Letter Credit Exposure) demanding Letter of Credit Collateralization pursuant to this
Section 2.11(n) upon such demand, Borrowers shall provide Letter of Credit Collateralization with respect to the then existing
Letter of Credit Usage. If US Borrowers or UK Borrowers are required to provide Letter of Credit Collateralization hereunder as
a result of the occurrence of an Event of Default, any cash collateral held by Agent as a result of such Letter of Credit Collateralization
shall be returned by Agent to US Borrowers or UK Borrowers promptly, but in no event later than seven (7) Business Days, after
such Event of Default has been cured or waived in accordance with this Agreement. If US Borrowers or UK Borrowers fail to provide
Letter of Credit Collateralization as required by this Section 2.11(n), the Revolving Lenders may (and, upon direction of
Agent, shall) advance, as Revolving Loans the amount of the cash collateral required pursuant to the Letter of Credit Collateralization
provision so that the then existing Letter of Credit Usage is cash collateralized in accordance with the Letter of Credit Collateralization
provision (whether or not the Revolver Commitments have terminated, an Overadvance exists or the conditions in Section 3
are satisfied).

 

(o)         Unless
otherwise expressly agreed by Issuing Bank and Borrowers when a Letter of Credit is issued (including any such agreement applicable
to a Letter of Credit), (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the UCP shall
apply to each commercial Letter of Credit.

 

(p)         Issuing
Bank shall be deemed to have acted with due diligence and reasonable care if Issuing Bank’s conduct is in accordance with
Standard Letter of Credit Practice or in accordance with this Agreement.

 

(q)         In
the event of a direct conflict between the provisions of this Section 2.11 and any provision contained in any Issuer Document,
it is the intention of the parties hereto that such provisions be read together and construed, to the fullest extent possible,
to be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved as aforesaid, the
terms and provisions of this Section 2.11 shall control and govern.

 

(r)          The
provisions of this Section 2.11 shall survive the termination of this Agreement and the repayment in full of the Obligations
with respect to any Letters of Credit that remain outstanding (and for so long as such Letters of Credit remain outstanding).

 

(s)         At
US Borrowers’ or UK Borrowers’ costs and expense, US Borrowers or UK Borrowers shall execute and deliver to Issuing
Bank such additional certificates, instruments and/or documents and take such additional action as may be reasonably requested
by Issuing Bank to enable Issuing Bank to issue any Letter of Credit pursuant to this Agreement and related Issuer Document, to
protect, exercise and/or enforce Issuing Banks’ rights and interests under this Agreement or to give effect to the terms
and provisions of this Agreement or any Issuer Document. Each US Borrower and UK Borrower irrevocably appoints Issuing Bank as
its attorney-in-fact and authorizes Issuing Bank, without notice to US Borrowers or UK Borrowers, to execute and deliver ancillary
documents and letters customary in the letter of credit business that may include but are not limited to advisements, indemnities,
checks, bills of exchange and issuance documents. The power of attorney granted by the US Borrowers and UK Borrowers US is limited
solely to such actions related to the issuance, confirmation or amendment of any Letter of Credit and to ancillary documents or
letters customary in the letter of credit business. This appointment is coupled with an interest.

 

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2.12       LIBOR
Option.

 

(a)         Interest
and Interest Payment Dates. In lieu of having interest charged at the rate based upon the Base Rate, US Borrowers shall have
the option, subject to Section 2.12(b) below (the “LIBOR Option”) to have interest on all or a portion
of the US Revolving Loans be charged (whether at the time when made (unless otherwise provided herein), upon conversion from a
Base Rate Loan to a LIBOR Rate Loan, or upon continuation of a LIBOR Rate Loan as a LIBOR Rate Loan) at a rate of interest based
upon the LIBOR Rate. Interest on LIBOR Rate Loans shall be payable on the earliest of (i) the last day of the Interest Period applicable
thereto; provided that subject to the following clauses (ii) and (iii), in the case of any Interest Period
greater than three (3) months in duration, interest shall be payable at three (3) month intervals after the commencement of the
applicable Interest Period and on the last day of such Interest Period, (ii) the date on which all or any portion of the Obligations
are accelerated pursuant to the terms hereof, or (iii) the date on which this Agreement is terminated pursuant to the terms hereof.
With respect to any US Revolving Loan, on the last day of each applicable Interest Period, unless US Borrowers have properly exercised
the LIBOR Option with respect thereto, the interest rate applicable to such LIBOR Rate Loan automatically shall convert to the
rate of interest then applicable to Base Rate Loans of the same type hereunder. At any time that an Event of Default has occurred
and is continuing, Borrowers no longer shall have the option to request that Revolving Loans bear interest at a rate based upon
the LIBOR Rate.

 

(b)         LIBOR
Election.

 

(i)          US
Borrowers may, at any time and from time to time, so long as no Event of Default has occurred and is continuing, elect to exercise
the LIBOR Option by notifying Agent prior to 11:00 a.m. at least three (3) Business Days prior to the commencement of the proposed
Interest Period (the “LIBOR Deadline”). Notice of Borrowers’ election of the LIBOR Option by the applicable
US Borrowers for a permitted portion of the US Revolving Loans and an Interest Period pursuant to this Section shall be made by
delivery to Agent of a LIBOR Notice received by Agent before the LIBOR Deadline. Promptly upon its receipt of each such LIBOR Notice,
Agent shall provide a copy thereof to each of the affected Lenders.

 

(ii)         Each
LIBOR Notice shall be irrevocable and binding on the applicable US Borrowers. In connection with each LIBOR Rate Loan, each Borrower
shall indemnify, defend, and hold Agent and the applicable Lenders harmless against any loss, cost, or expense actually incurred
by Agent or any such Lender as a result of (A) the payment or required assignment of any principal of any LIBOR Rate Loan other
than on the last day of an Interest Period applicable thereto (including as a result of an Event of Default), (B) the conversion
of any LIBOR Rate Loan other than on the last day of the Interest Period applicable thereto, or (C) the failure to borrow, convert,
continue or prepay any LIBOR Rate Loan on the date specified in any LIBOR Notice delivered pursuant hereto (such losses, costs,
or expenses, “Funding Losses”). A certificate of Agent or a Lender delivered to the applicable US Borrowers
setting forth in reasonable detail any amount or amounts that Agent or such Lender is entitled to receive pursuant to this Section
2.12 shall be conclusive absent manifest error. The applicable US Borrowers shall pay such amount to Agent or the Lender, as
applicable, within 30 days of the date of its receipt of such certificate. If a payment of a LIBOR Rate Loan on a day other than
the last day of the applicable Interest Period would result in a Funding Loss, Agent may, in its sole discretion at the request
of the applicable US Borrowers, hold the amount of such payment as cash collateral in support of the US Obligations until the last
day of such Interest Period and apply such amounts to the payment of the applicable LIBOR Rate Loan on such last day, it being
agreed that Agent has no obligation to so defer the application of payments to any LIBOR Rate Loan and that, in the event that
Agent does not defer such application, the applicable Borrowers shall be obligated to pay any resulting Funding Losses.

 

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(iii)        Unless
Agent, in its sole discretion, agrees otherwise, Borrowers shall have not more than ten (10) LIBOR Rate Loans in effect at any
given time. Borrowers may only exercise the LIBOR Option for proposed LIBOR Rate Loans of at least $1,000,000.

 

(c)         Conversion;
Prepayment. US Borrowers may convert LIBOR Rate Loans to Base Rate Loans or prepay LIBOR Rate Loans at any time; provided,
that in the event that LIBOR Rate Loans are converted or prepaid on any date that is not the last day of the Interest Period applicable
thereto, including as a result of any prepayment through the required application by Agent of any payments or proceeds of Collateral
in accordance with Section 2.4(b) or for any other reason, including early termination of the term of this Agreement or
acceleration of all or any portion of the Obligations pursuant to the terms hereof, each Borrower shall indemnify, defend, and
hold Agent and the Lenders and their Participants harmless against any and all Funding Losses in accordance with Section 2.12
(b)(ii).

 

(d)         Special
Provisions Applicable to LIBOR Rate.

 

(i)          The
LIBOR Rate may be adjusted by Agent with respect to any Lender on a prospective basis to take into account any additional or increased
costs to such Lender of maintaining or obtaining any eurodollar deposits, any other Applicable Currency deposits or increased costs
(other than Taxes which shall be governed by Section 16), in each case, due to changes in applicable law occurring subsequent
to the commencement of the then applicable Interest Period, including any Changes in Law and changes in the reserve requirements
imposed by the Board of Governors, which additional or increased costs would increase the cost of funding or maintaining loans
bearing interest at the LIBOR Rate. In any such event, the affected Lender shall give Borrowers and Agent notice of such a determination
and adjustment and Agent promptly shall transmit the notice to each other Lender and, upon its receipt of the notice from the affected
Lender, Borrowers may, by notice to such affected Lender (A) require such Lender to furnish to Borrowers a statement setting forth
in reasonable detail the basis for adjusting such LIBOR Rate and the method for determining the amount of such adjustment, or (B)
repay the LIBOR Rate Loans of such Lender with respect to which such adjustment is made (together with any amounts due under Section
2.12(b)(ii)).

 

(ii)         Subject
to clause (iii) below, in the event that any change in market conditions or any Change in Law shall at any time after the
date hereof, in the reasonable opinion of any Lender, make it unlawful or impractical for such Lender to fund or maintain LIBOR
Rate Loans or to continue such funding or maintaining, or to determine or charge interest rates at the LIBOR Rate, (x) such Lender
shall give notice of such changed circumstances to Agent and Borrowers and Agent promptly shall transmit the notice to each other
Lender and (y) in the case of any LIBOR Rate Loans of such Lender that are outstanding, the date specified in such Lender’s
notice shall be deemed to be the last day of the Interest Period of such LIBOR Rate Loans, and interest upon the LIBOR Rate Loans
of such Lender thereafter shall accrue interest at the rate then applicable to Base Rate Loans, and (z) Borrowers shall not be
entitled to elect the LIBOR Option until such Lender determines that it would no longer be unlawful or impractical to do so.

 

    	 	36	 

     

    

 

(iii)        If
at any time the Agent determines (which determination shall be conclusive absent manifest error), or the Borrowers reasonably determine,
or the Required Lenders notify the Agent (with a copy to the Borrowers) that the Required Lenders have determined that (A) adequate
and reasonable means do not exist for ascertaining the LIBOR Rate for any requested Interest Period, including, without limitation,
because the LIBOR Rate is not available or published on a current basis and such circumstances are unlikely to be temporary; or
(B) the administrator of the LIBOR Rate or a Governmental Authority having jurisdiction over the Agent has made a public statement
identifying a specific date after which the LIBOR Rate shall no longer be made available, or used for determining the interest
rate of loans (such specific date, the “Scheduled Unavailability Date”), then the Agent and the Borrowers shall
endeavor to establish an alternate rate of interest to the LIBOR Rate that gives due consideration to any selection, endorsement
or recommendation of a replacement rate and/or replacement spread or the mechanism for determining such a rate or spread by the
relevant Governmental Authority at such time, and shall enter into an amendment to this Agreement to reflect such alternate rate
of interest, an appropriate adjustment to the Applicable Margin, if any, and such other related changes to this Agreement as may
be applicable; provided that, if such alternate rate of interest shall be less than zero, such rate shall be deemed to be
zero for the purposes of this Agreement. Notwithstanding anything to the contrary in Section 14.1, such amendment shall
become effective without any further action or consent of any other party to this Agreement so long as the Agent shall not have
received, within five (5) Business Days of the date a copy of such amendment is provided to the Lenders, written notice from the
Required Lenders stating that such Required Lenders object to such amendment. If no such alternate rate has been determined and
the circumstances under clause (A) above exist or the Scheduled Unavailability Date has occurred (as applicable), the Agent will
promptly so notify the Borrowers and each Lender. Thereafter, (x) the obligation of the Lenders to make or maintain LIBOR Rate
Loans shall be suspended (to the extent of the affected LIBOR Rate Loans or Interest Periods) (it being understood that this provision
shall not limit or otherwise relieve the Lenders’ obligations to make UK Revolving Loans on the terms and subject to the
conditions of this Agreement), (y) the LIBOR Rate component shall no longer be utilized in determining the Base Rate, and (z) for
so long as an alternative rate has not been determined in accordance herewith, all outstanding Obligations (including, for the
avoidance of doubt, UK Obligations) will bear interest, and all Loans (including, for the avoidance of doubt, UK Revolving Loans)
will be made, at a rate per annum equal to the Base Rate plus the Base Rate Margin. Upon receipt of such notice, the Borrower
may revoke any pending request for a Loan of, conversion to or continuation of LIBOR Rate Loans (to the extent of the affected
LIBOR Rate Loans or Interest Periods) or, failing that, will be deemed to have converted such request into a request for a Borrowing
of Base Rate Loans (subject to the foregoing clause (y)) in the amount specified therein.

 

(e)         No
Requirement of Matched Funding. Anything to the contrary contained herein notwithstanding, neither Agent, nor any Lender, nor
any of their Participants, is required actually to acquire eurodollar deposits or any other Applicable Currency deposits to fund
or otherwise match fund any Obligation as to which interest accrues at the LIBOR Rate.

 

2.13       Capital
Requirements.

 

(a)         If,
after the date hereof, Issuing Bank or any Lender determines that (i) any Change in Law regarding capital, liquidity or reserve
requirements for banks or bank holding companies, or (ii) compliance by Issuing Bank or such Lender, or their respective parent
bank holding companies, with any guideline, request or directive of any Governmental Authority regarding capital adequacy or liquidity
requirements (whether or not having the force of law), has the effect of reducing the return on Issuing Bank’s, such Lender’s,
or such holding companies’ capital or liquidity as a consequence of Issuing Bank’s or such Lender’s commitments,
Loans, participations or other obligations hereunder to a level below that which Issuing Bank, such Lender, or such holding companies
could have achieved but for such Change in Law or compliance (taking into consideration Issuing Bank’s, such Lender’s,
or such holding companies’ then existing policies with respect to capital adequacy or liquidity requirements and assuming
the full utilization of such entity’s capital) by any amount deemed by Issuing Bank or such Lender to be material, then Issuing
Bank or such Lender may notify Borrowers and Agent thereof. Following receipt of such notice, the applicable Borrowers agree to
pay Issuing Bank or such Lender on demand the amount of such reduction of return of capital as and when such reduction is determined,
payable within 30 days after presentation by Issuing Bank or such Lender of a statement in the amount and setting forth in reasonable
detail Issuing Bank’s or such Lender’s calculation thereof and the assumptions upon which such calculation was based
(which statement shall be deemed true and correct absent manifest error). In determining such amount, Issuing Bank or such Lender
may use any reasonable averaging and attribution methods. Failure or delay on the part of Issuing Bank or any Lender to demand
compensation pursuant to this Section shall not constitute a waiver of Issuing Bank’s or such Lender’s right to demand
such compensation; provided that Borrowers shall not be required to compensate Issuing Bank or a Lender pursuant to this
Section for any reductions in return incurred more than 180 days prior to the date that Issuing Bank or such Lender notifies Borrowers
of such Change in Law giving rise to such reductions and of such Lender’s intention to claim compensation therefor; provided
further that if such claim arises by reason of the Change in Law that is retroactive, then the 180-day period referred to above
shall be extended to include the period of retroactive effect thereof.

 

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(b)         If
Issuing Bank or any Lender requests additional or increased costs referred to in Section 2.11(l) or Section 2.12(d)(i)
or amounts under Section 2.13(a) or sends a notice under Section 2.12(d)(ii) relative to changed circumstances (such
Issuing Bank or Lender, an “Affected Lender”), then, at the request of any Borrower, such Affected Lender shall
use reasonable efforts to promptly designate a different one of its lending offices or to assign its rights and obligations hereunder
to another of its offices or branches, if (i) in the reasonable judgment of such Affected Lender, such designation or assignment
would eliminate or reduce amounts payable pursuant to Section 2.11(l), Section 2.12(d)(i) or Section 2.13(a),
as applicable, or would eliminate the illegality or impracticality of funding or maintaining LIBOR Rate Loans and (ii) in the reasonable
judgment of such Affected Lender, such designation or assignment would not subject such Affected Lender to any material unreimbursed
cost or expense and would not otherwise be materially disadvantageous to it. The applicable Borrowers agree to pay all reasonable
out-of-pocket costs and expenses incurred by such Affected Lender in connection with any such designation or assignment. If, after
such reasonable efforts, such Affected Lender does not so designate a different one of its lending offices or assign its rights
to another of its offices or branches so as to eliminate Borrowers’ obligation to pay any future amounts to such Affected
Lender pursuant to Section 2.11(l), Section 2.12(d)(i) or Section 2.13(a), as applicable, or to enable the
applicable Borrowers to obtain LIBOR Rate Loans, then Borrowers (without prejudice to any amounts then due to such Affected Lender
under Section 2.11(l), Section 2.12(d)(i) or Section 2.13(a), as applicable) may, unless prior to the effective
date of any such assignment the Affected Lender withdraws its request for such additional amounts under Section 2.11(l),
Section 2.12(d)(i) or Section 2.13(a), as applicable, or indicates that it is no longer unlawful or impractical to
fund or maintain LIBOR Rate Loans, may designate a different Issuing Bank or substitute a Lender or prospective Lender, in each
case, reasonably acceptable to Agent and the Borrowers to purchase the Obligations owed to such Affected Lender and such Affected
Lender’s commitments hereunder (a “Replacement Lender”), and if such Replacement Lender agrees to such
purchase, such Affected Lender shall assign to the Replacement Lender its Obligations and commitments, and upon such purchase by
the Replacement Lender, which such Replacement Lender shall be deemed to be “Issuing Bank” or a “Lender”
(as the case may be) for purposes of this Agreement and such Affected Lender shall cease to be “Issuing Bank” or a
“Lender” (as the case may be) for purposes of this Agreement.

 

(c)         Notwithstanding
anything herein to the contrary, the protection of Sections 2.11(l), 2.12(d), and 2.13 shall be available
to Issuing Bank and each Lender (as applicable) regardless of any possible contention of the invalidity or inapplicability of the
law, rule, regulation, judicial ruling, judgment, guideline, treaty or other change or condition which shall have occurred or been
imposed, so long as it shall be customary for issuing banks or lenders affected thereby to comply therewith. Notwithstanding any
other provision herein, neither Issuing Bank nor any Lender shall demand compensation pursuant to this Section 2.13 if it
shall not at the time be the general policy or practice of Issuing Bank or such Lender (as the case may be) to demand such compensation
in similar circumstances under comparable provisions of other credit agreements, if any.

 

    	 	38	 

     

    

 

2.14       Joint
and Several Liability of Borrowers with Respect to UK Obligations.

 

(a)         In
consideration of the financial accommodations to be provided by the Lender Group under this Agreement in respect of the UK Obligations,
each Borrower is accepting joint and several liability hereunder and under the other Loan Documents in respect of the UK Obligations,
for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers
to accept joint and several liability for the UK Obligations.

 

(b)         Each
Borrower, jointly and severally, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor,
joint and several liability with the other Borrowers, with respect to the payment and performance of all of the UK Obligations
(including any UK Obligations arising under this Section 2.14), it being the intention of the parties hereto that all the
UK Obligations shall be the joint and several obligations of each Borrower without preferences or distinction among them. Accordingly,
each Borrower hereby waives any and all suretyship defenses that would otherwise be available to such Borrower under applicable
law.

 

(c)         If
and to the extent that any Borrower shall fail to make any payment with respect to any of the UK Obligations as and when due, whether
upon maturity, acceleration, or otherwise, or to perform any of the UK Obligations in accordance with the terms thereof, then in
each such event the other Borrowers will make such payment with respect to, or perform, such UK Obligation until such time as all
of the UK Obligations are paid in full, and without the need for demand, protest, or any other notice or formality.

 

(d)         The
UK Obligations of each Borrower under the provisions of this Section 2.14 constitute the absolute and unconditional, full
recourse UK Obligations of each Borrower enforceable against each Borrower to the full extent of its properties and assets, irrespective
of the validity, regularity or enforceability of the provisions of this Agreement (other than this Section 2.14(d)) or any
other circumstances whatsoever.

 

    	 	39	 

     

    

 

(e)         Without
limiting the generality of the foregoing and except as otherwise expressly provided in this Agreement, each Borrower hereby waives
presentments, demands for performance, protests and notices, including notices of acceptance of its joint and several liability,
notice of any UK Revolving Loans issued under or pursuant to this Agreement, notice of the occurrence of any Default, Event of
Default, notices of nonperformance, notices of protest, notices of dishonor, notices of acceptance of this Agreement, notices of
the existence, creation, or incurring of new or additional Obligations or other financial accommodations or of any demand for any
payment under this Agreement, notice of any action at any time taken or omitted by Agent or Lenders under or in respect of any
of the UK Obligations, any right to proceed against any other Borrower or any other Person, to proceed against or exhaust any security
held from any other Borrower or any other Person, to protect, secure, perfect, or insure any security interest or Lien on any property
subject thereto or exhaust any right to take any action against any other Borrower, any other Person, or any collateral, to pursue
any other remedy in any member of the Lender Group’s or any Bank Product Provider’s power whatsoever, any requirement
of diligence or to mitigate damages and, generally, to the extent permitted by applicable law, all demands, notices and other formalities
of every kind in connection with this Agreement (except as otherwise provided in this Agreement), any right to assert against any
member of the Lender Group or any Bank Product Provider, any defense (legal or equitable), set-off, counterclaim, or claim which
each Borrower may now or at any time hereafter have against any other Borrower or any other party liable to any member of the Lender
Group or any Bank Product Provider, any defense, set-off, counterclaim, or claim, of any kind or nature, arising directly or indirectly
from the present or future lack of perfection, sufficiency, validity, or enforceability of the Obligations or any security therefor,
and any right or defense arising by reason of any claim or defense based upon an election of remedies by any member of the Lender
Group or any Bank Product Provider including any defense based upon an impairment or elimination of such Borrower’s rights
of subrogation, reimbursement, contribution, or indemnity of such Borrower against any other Borrower. Without limiting the generality
of the foregoing, each Borrower hereby assents to, and waives notice of, any extension or postponement of the time for the payment
of any of the UK Obligations, the acceptance of any payment of any of the UK Obligations, the acceptance of any partial payment
thereon, any waiver, consent or other action or acquiescence by Agent or Lenders at any time or times in respect of any default
by any Borrower in the performance or satisfaction of any term, covenant, condition or provision of this Agreement, any and all
other indulgences whatsoever by Agent or Lenders in respect of any of the UK Obligations, and the taking, addition, substitution
or release, in whole or in part, at any time or times, of any security for any of the UK Obligations or the addition, substitution
or release, in whole or in part, of any Borrower. Without limiting the generality of the foregoing, each Borrower assents to any
other action or delay in acting or failure to act on the part of any Agent or Lender with respect to the failure by any Borrower
to comply with any of its respective UK Obligations, including any failure strictly or diligently to assert any right or to pursue
any remedy or to comply fully with applicable laws or regulations thereunder, which might, but for the provisions of this Section
2.14 afford grounds for terminating, discharging or relieving any Borrower, in whole or in part, from any of its UK Obligations
under this Section 2.14, it being the intention of each Borrower that, so long as any of the UK Obligations hereunder remain
unsatisfied, the UK Obligations of each Borrower under this Section 2.14 shall not be discharged except by performance and
then only to the extent of such performance. The UK Obligations of each Borrower under this Section 2.14 shall not be diminished
or rendered unenforceable by any winding up, reorganization, arrangement, liquidation, reconstruction or similar proceeding with
respect to any other Borrower or any Agent or Lender. Each of the Borrowers waives, to the fullest extent permitted by law, the
benefit of any statute of limitations affecting its liability hereunder or the enforcement hereof. Any payment by any Borrower
or other circumstance which operates to toll any statute of limitations as to any Borrower shall operate to toll the statute of
limitations as to each of the Borrowers. Each of the Borrowers waives any defense based on or arising out of any defense of any
Borrower or any other Person, other than payment of the UK Obligations to the extent of such payment, based on or arising out of
the disability of any Borrower or any other Person, or the validity, legality, or unenforceability of the UK Obligations or any
part thereof from any cause, or the cessation from any cause of the liability of any Borrower other than payment of the UK Obligations
to the extent of such payment. Agent may, when and Event of Default has occurred and is continuing and at the election of the Required
Lenders, foreclose upon any Collateral held by Agent by one or more judicial or nonjudicial sales or other dispositions, whether
or not every aspect of any such sale is commercially reasonable or otherwise fails to comply with applicable law or may exercise
any other right or remedy Agent, any other member of the Lender Group, or any Bank Product Provider may have against any Borrower
or any other Person, or any security, in each case, without affecting or impairing in any way the liability of any of the Borrowers
hereunder except to the extent the UK Obligations have been paid.

 

(f)          Each
Borrower represents and warrants to Agent and Lenders that such Borrower is currently informed of the financial condition of Borrowers
and of all other circumstances which a diligent inquiry would reveal and which bear upon the risk of nonpayment of the UK Obligations.
Each Borrower further represents and warrants to Agent and Lenders that such Borrower has read and understands the terms and conditions
of the Loan Documents. Each Borrower hereby covenants that such Borrower will continue to keep informed of Borrowers’ financial
condition and of all other circumstances which bear upon the risk of nonpayment or nonperformance of the UK Obligations.

 

(g)         The
provisions of this Section 2.14 are made for the benefit of Agent, each member of the Lender Group, each Bank Product Provider,
and their respective successors and assigns, and may be enforced by it or them from time to time against any or all Borrowers as
often as occasion therefor may arise and without requirement on the part of Agent, any member of the Lender Group, any Bank Product
Provider, or any of their successors or assigns first to marshal any of its or their claims or to exercise any of its or their
rights against any Borrower or to exhaust any remedies available to it or them against any Borrower or to resort to any other source
or means of obtaining payment of any of the UK Obligations hereunder or to elect any other remedy. The provisions of this Section
2.14 shall remain in effect until all of the UK Obligations shall have been paid in full or otherwise fully satisfied. If at
any time, any payment, or any part thereof, made in respect of any of the UK Obligations, is rescinded or must otherwise be restored
or returned by Agent or any Lender upon the insolvency, bankruptcy or reorganization of any Borrower, or otherwise, the provisions
of this Section 2.14 will forthwith be reinstated in effect, as though such payment had not been made.

 

    	 	40	 

     

    

 

(h)         Each
Borrower hereby agrees that it will not enforce any of its rights that arise from the existence, payment, performance or enforcement
of the provisions of this Section 2.14, including rights of subrogation, reimbursement, exoneration, contribution or indemnification
and any right to participate in any claim or remedy of Agent, any other member of the Lender Group, or any Bank Product Provider
against any Borrower, whether or not such claim, remedy or right arises in equity or under contract, statute or common law, including
the right to take or receive from any Borrower, directly or indirectly, in cash or other property or by set-off or in any other
manner, payment or security solely on account of such claim, remedy or right, unless and until such time as all of the UK Obligations
have been paid in full in cash. Any claim which any Borrower may have against any other Borrower with respect to any payments to
any Agent or any member of the Lender Group hereunder or under any of the Bank Product Agreements are hereby expressly made subordinate
and junior in right of payment, without limitation as to any increases in the UK Obligations arising hereunder or thereunder, to
the prior payment in full in cash of the UK Obligations and, in the event of any insolvency, bankruptcy, receivership, liquidation,
reorganization or other similar proceeding under the laws of any jurisdiction relating to any Borrower, its debts or its assets,
whether voluntary or involuntary, all such UK Obligations shall be paid in full in cash before any payment or distribution of any
character, whether in cash, securities or other property, shall be made to any other Borrower therefor. If any amount shall be
paid to any Borrower in violation of the immediately preceding sentence, such amount shall be held in trust for the benefit of
Agent, for the benefit of the Lender Group and the Bank Product Providers, and shall forthwith be paid to Agent to be credited
and applied to the UK Obligations and all other amounts payable under this Agreement, whether matured or unmatured, in accordance
with the terms of this Agreement, or to be held as Collateral for any UK Obligations or other amounts payable under this Agreement
thereafter arising. Notwithstanding anything to the contrary contained in this Agreement, no Borrower may exercise any rights of
subrogation, contribution, indemnity, reimbursement or other similar rights against, and may not proceed or seek recourse against
or with respect to any property or asset of, any Foreclosed Borrower, including after payment in full of the UK Obligations, if
all or any portion of the UK Obligations have been satisfied in connection with an exercise of remedies in respect of the Equity
Interests of such Foreclosed Borrower whether pursuant to this Agreement or otherwise.

 

2.15       Joint
and Several Liability of US Borrowers with respect to Obligations.

 

(a)         In
consideration of the financial accommodations to be provided by the Lender Group under this Agreement in respect of the Obligations,
each US Borrower is accepting joint and several liability hereunder and under the other Loan Documents in respect of the Obligations,
for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers
to accept joint and several liability for the Obligations.

 

(b)         Each
US Borrower, jointly and severally, hereby irrevocably and unconditionally accepts, not merely as a surety but also as a co-debtor,
joint and several liability with the other US Borrowers, with respect to the payment and performance of all of the Obligations
(including any Obligations arising under this Section 2.15), it being the intention of the parties hereto that all the Obligations
shall be the joint and several obligations of each US Borrower without preferences or distinction among them. Accordingly, each
US Borrower hereby waives any and all suretyship defenses that would otherwise be available to such US Borrower under applicable
law.

 

    	 	41	 

     

    

 

(c)         If
and to the extent that any Borrower shall fail to make any payment with respect to any of the Obligations as and when due, whether
upon maturity, acceleration, or otherwise, or to perform any of the Obligations in accordance with the terms thereof, then in each
such event the US Borrowers will make such payment with respect to, or perform, such Obligation until such time as all of the Obligations
are paid in full, and without the need for demand, protest, or any other notice or formality.

 

(d)         The
Obligations of each US Borrower under the provisions of this Section 2.15 constitute the absolute and unconditional, full
recourse Obligations of each US Borrower enforceable against each US Borrower to the full extent of its properties and assets,
irrespective of the validity, regularity or enforceability of the provisions of this Agreement (other than this Section 2.15(d))
or any other circumstances whatsoever.

 

(e)         Without
limiting the generality of the foregoing and except as otherwise expressly provided in this Agreement, each US Borrower hereby
waives presentments, demands for performance, protests and notices, including notices of acceptance of its joint and several liability,
notice of any US Revolving Loans or Letters of Credit issued under or pursuant to this Agreement, notice of the occurrence of any
Default, Event of Default, notices of nonperformance, notices of protest, notices of dishonor, notices of acceptance of this Agreement,
notices of the existence, creation, or incurring of new or additional Obligations or other financial accommodations or of any demand
for any payment under this Agreement, notice of any action at any time taken or omitted by Agent or Lenders under or in respect
of any of the Obligations, any right to proceed against any other Borrower or any other Person, to proceed against or exhaust any
security held from any other Borrower or any other Person, to protect, secure, perfect, or insure any security interest or Lien
on any property subject thereto or exhaust any right to take any action against any other Borrower, any other Person, or any collateral,
to pursue any other remedy in any member of the Lender Group’s or any Bank Product Provider’s power whatsoever, any
requirement of diligence or to mitigate damages and, generally, to the extent permitted by applicable law, all demands, notices
and other formalities of every kind in connection with this Agreement (except as otherwise provided in this Agreement), any right
to assert against any member of the Lender Group or any Bank Product Provider, any defense (legal or equitable), set-off, counterclaim,
or claim which each US Borrower may now or at any time hereafter have against any other US Borrower or any other party liable to
any member of the Lender Group or any Bank Product Provider, any defense, set-off, counterclaim, or claim, of any kind or nature,
arising directly or indirectly from the present or future lack of perfection, sufficiency, validity, or enforceability of the US
Obligations or any security therefor, and any right or defense arising by reason of any claim or defense based upon an election
of remedies by any member of the Lender Group or any Bank Product Provider including any defense based upon an impairment or elimination
of such Borrower’s rights of subrogation, reimbursement, contribution, or indemnity of such US Borrower against any other
US Borrower. Without limiting the generality of the foregoing, each US Borrower hereby assents to, and waives notice of, any extension
or postponement of the time for the payment of any of the US Obligations, the acceptance of any payment of any of the Obligations,
the acceptance of any partial payment thereon, any waiver, consent or other action or acquiescence by Agent or Lenders at any time
or times in respect of any default by any Borrower in the performance or satisfaction of any term, covenant, condition or provision
of this Agreement, any and all other indulgences whatsoever by Agent or Lenders in respect of any of the Obligations, and the taking,
addition, substitution or release, in whole or in part, at any time or times, of any security for any of the Obligations or the
addition, substitution or release, in whole or in part, of any Borrower. Without limiting the generality of the foregoing, each
US Borrower assents to any other action or delay in acting or failure to act on the part of any Agent or Lender with respect to
the failure by any Borrower to comply with any of its respective Obligations, including, without limitation, any failure strictly
or diligently to assert any right or to pursue any remedy or to comply fully with applicable laws or regulations thereunder, which
might, but for the provisions of this Section 2.15 afford grounds for terminating, discharging or relieving any Borrower,
in whole or in part, from any of its Obligations under this Section 2.15, it being the intention of each US Borrower that,
so long as any of the Obligations hereunder remain unsatisfied, the Obligations of each US Borrower under this Section 2.15
shall not be discharged except by performance and then only to the extent of such performance. The Obligations of each US Borrower
under this Section 2.15 shall not be diminished or rendered unenforceable by any winding up, reorganization, arrangement,
liquidation, reconstruction or similar proceeding with respect to any other US Borrower or any Agent or Lender. Each of the US
Borrowers waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability hereunder
or the enforcement hereof. Any payment by any US Borrower or other circumstance which operates to toll any statute of limitations
as to any US Borrower shall operate to toll the statute of limitations as to each of the US Borrowers. Each of the US Borrowers
waives any defense based on or arising out of any defense of any US Borrower or any other Person, other than payment of the Obligations
to the extent of such payment, based on or arising out of the disability of any US Borrower or any other Person, or the validity,
legality, or unenforceability of the Obligations or any part thereof from any cause, or the cessation from any cause of the liability
of any US Borrower other than payment of the Obligations to the extent of such payment. Agent may, when an Event of Default has
occurred and is continuing, at the election of the Required Lenders, foreclose upon any Collateral held by Agent by one or more
judicial or nonjudicial sales or other dispositions, whether or not every aspect of any such sale is commercially reasonable or
otherwise fails to comply with applicable law or may exercise any other right or remedy Agent, any other member of the Lender Group,
or any Bank Product Provider may have against any US Borrower or any other Person, or any security, in each case, without affecting
or impairing in any way the liability of any of the US Borrowers hereunder except to the extent the Obligations have been paid.

 

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(f)          Each
US Borrower represents and warrants to Agent and Lenders that such Borrower is currently informed of the financial condition of
the other US Borrowers and of all other circumstances which a diligent inquiry would reveal and which bear upon the risk of nonpayment
of the Obligations. Each US Borrower further represents and warrants to Agent and Lenders that such Borrower has read and understands
the terms and conditions of the Loan Documents. Each US Borrower hereby covenants that such Borrower will continue to keep informed
of the other US Borrowers’ financial condition and of all other circumstances which bear upon the risk of nonpayment or nonperformance
of the Obligations.

 

(g)         The
provisions of this Section 2.15 are made for the benefit of Agent, each member of the Lender Group, each Bank Product Provider,
and their respective successors and assigns, and may be enforced by it or them from time to time against any or all US Borrowers
as often as occasion therefor may arise and without requirement on the part of Agent, any member of the Lender Group, any Bank
Product Provider, or any of their successors or assigns first to marshal any of its or their claims or to exercise any of its or
their rights against any US Borrower or to exhaust any remedies available to it or them against any US Borrower or to resort to
any other source or means of obtaining payment of any of the US Obligations hereunder or to elect any other remedy. The provisions
of this Section 2.15 shall remain in effect until all of the US Obligations shall have been paid in full or otherwise fully
satisfied. If at any time, any payment, or any part thereof, made in respect of any of the Obligations, is rescinded or must otherwise
be restored or returned by Agent or any Lender upon the insolvency, bankruptcy or reorganization of any US Borrower, or otherwise,
the provisions of this Section 2.15 will forthwith be reinstated in effect, as though such payment had not been made.

 

    	 	43	 

     

    

 

(h)         Each
US Borrower hereby agrees that it will not enforce any of its rights that arise from the existence, payment, performance or enforcement
of the provisions of this Section 2.15, including rights of subrogation, reimbursement, exoneration, contribution or indemnification
and any right to participate in any claim or remedy of Agent, any other member of the Lender Group, or any Bank Product Provider
against any other Borrower, whether or not such claim, remedy or right arises in equity or under contract, statute or common law,
including the right to take or receive from any Borrower, directly or indirectly, in cash or other property or by set-off or in
any other manner, payment or security solely on account of such claim, remedy or right, unless and until such time as all of the
Obligations have been paid in full in cash. Any claim which any US Borrower may have against any other US Borrower with respect
to any payments to any Agent or any member of the Lender Group hereunder or under any of the Bank Product Agreements are hereby
expressly made subordinate and junior in right of payment, without limitation as to any increases in the Obligations arising hereunder
or thereunder, to the prior payment in full in cash of the Obligations and, in the event of any insolvency, bankruptcy, receivership,
liquidation, reorganization or other similar proceeding under the laws of any jurisdiction relating to any US Borrower, its debts
or its assets, whether voluntary or involuntary, all such US Obligations shall be paid in full in cash before any payment or distribution
of any character, whether in cash, securities or other property, shall be made to any other US Borrower therefor. If any amount
shall be paid to any US Borrower in violation of the immediately preceding sentence, such amount shall be held in trust for the
benefit of Agent, for the benefit of the Lender Group and the Bank Product Providers, and shall forthwith be paid to Agent to be
credited and applied to the Obligations and all other amounts payable under this Agreement, whether matured or unmatured, in accordance
with the terms of this Agreement, or to be held as Collateral for any US Obligations or other amounts payable under this Agreement
thereafter arising. Notwithstanding anything to the contrary contained in this Agreement, no US Borrower may exercise any rights
of subrogation, contribution, indemnity, reimbursement or other similar rights against, and may not proceed or seek recourse against
or with respect to any property or asset of, any other Borrower (the “Foreclosed Borrower”), including after payment
in full of the Obligations, if all or any portion of the Obligations have been satisfied in connection with an exercise of remedies
in respect of the Equity Interests of such Foreclosed Borrower whether pursuant to this Agreement or otherwise.

 

(i)          Each
US Borrower hereby agrees that after the occurrence and during the continuance of any Default or Event of Default, such Borrower
will not demand, sue for or otherwise attempt to collect any indebtedness of any other Borrower owing to such Borrower until the
Obligations shall have been paid in full in cash. If, notwithstanding the foregoing sentence, such Borrower shall collect, enforce
or receive any amounts in respect of such indebtedness, such amounts shall be collected, enforced and received by such Borrower
as trustee for Agent, and such Borrower shall deliver any such amounts to Agent for application to the Obligations in accordance
with Section 2.4(b).

 

2.16       Incremental
Revolving Commitments.

 

(a)         The
US Administrative Borrower may, at any time and from time to time prior to the Maturity Date, by notice to Agent, request an increase
in the Revolver Commitments of the Lenders (the “Incremental Revolving Commitments”), subject to the terms and
conditions set forth herein, in an aggregate principal amount for all such Incremental Revolving Commitments of up to $30,000,000
to be effective as of a date (the “Increase Date”) specified in the related notice to Agent; provided,
however, that:

 

(i)          any
Incremental Revolving Commitments requested hereby shall be in an amount not less than $5,000,000;

 

(ii)         on
the date of any request by the Borrowers for Incremental Revolving Commitments and on the related Increase Date, the applicable
conditions set forth in Section 3.2 (other than Section 3.2(b)) shall be satisfied;

 

(iii)        on
the date of any request by the Borrowers for any Incremental Revolving Commitments and on the related Increase Date, no Event of
Default shall have occurred and be continuing and no Event of Default shall result from such Incremental Revolving Commitments;

 

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(iv)        immediately
prior to the incurrence of the Incremental Revolving Commitments, and after giving effect thereto, the representations and warranties
set forth in Article IV shall be true and correct in all material respects (without duplication of materiality qualifiers)
(other than any such representations or warranties that, by their terms, refer to a specific date other than the applicable Increase
Date, in which case as of such specific date;

 

(v)         the
proceeds of such Incremental Revolving Commitments shall be used for acquisitions and other investments, capital expenditures,
working capital, and other general corporate purposes in accordance with, and as permitted by, the terms of the Loan Documents;

 

(b)         In
connection with any Incremental Revolving Commitments, this Agreement may be amended in a writing executed and delivered by the
Administrative Borrower and Agent to reflect any technical changes necessary to give effect to such increase in accordance with
its terms as set forth herein, including, without limitation, amending and restating or supplementing Schedule C-1 to reflect
the new Revolver Commitments of the Lenders (including any Incremental Revolver Commitments of the Incremental Revolving Lenders).
This Section 2.16(b) shall supersede any provisions in Section 13.1 to the contrary.

 

(c)         Agent
shall promptly notify the Lender Group of a request by the Administrative Borrower for Incremental Revolving Commitments, which
notice shall include (i) the proposed amount, (ii) the proposed Increase Date, (iii) whether the proposed increase should be made
to the UK Revolver Commitments or the US Revolver Commitments (or both), and (iii) the date by which Lender Parties wishing to
participate in the Incremental Revolving Commitments must commit to an Incremental Revolving Commitment (the “Incremental
Commitment Date”). Incremental Revolving Commitments may be provided, by any existing Lender (it being understood that
no existing Lender will have an obligation to make any Incremental Revolving Commitment, but the Borrowers will have an obligation
to approach the existing Lender Group first, prior to any Additional Lender, to provide any Incremental Revolving Commitment) or
by any Additional Lender (each such existing Lender or Additional Lender providing such Incremental Revolving Commitment, an “Incremental
Revolving Lender” and, collectively, the “Incremental Revolving Lenders”); provided that Agent,
the Swing Lender and each Issuing Bank shall have consented (not to be unreasonably conditioned, withheld or delayed) to such Additional
Lender’s providing such Incremental Revolving Commitments to the extent such consent, if any, would be required under Section
13.1 for an assignment of Revolver Commitments to such Additional Lender. If any Incremental Revolving Commitments are provided
in accordance with this Section 2.16, no Person who is not at the time a Lender will be selected to provide the Incremental
Revolving Commitments until the then-existing Lenders have been provided with a reasonable opportunity to provide all or a portion
of such Incremental Revolving Commitments; provided that none of the then-existing Lenders will be required to provide any
such Incremental Revolving Commitments without their respective consent. For the avoidance of doubt, no Loan Party or Subsidiary
thereof or any Affiliate of the foregoing shall be an Incremental Revolving Lender.

 

(d)         On
the applicable Increase Date, each Additional Lender shall be or become a Lender party to this Agreement as of such applicable
Increase Date by delivering an Incremental Agreement as of such Increase Date;

 

(e)         The
Incremental Revolving Commitments shall be subject to the prior satisfaction of conditions precedent to be agreed between the Administrative
Borrower and the Incremental Revolving Lenders providing such Incremental Revolving Commitments, including, without limitation,
that Agent shall have received on or before the Increase Date the following, each dated such date:

 

    	 	45	 

     

    

 

(i)          (A)
a certificate of an Authorized Person certifying to resolutions of such Loan Party’s Board of Directors or sole member, as
applicable, approving the Incremental Revolving Commitments, the borrowing of Revolving Loans thereunder and the corresponding
modifications to this Agreement and such other matters as requested by Agent and (B) if requested by Agent, an opinion of counsel
for the Borrowers, in form and substance reasonably satisfactory to Agent;

 

(ii)         an
Incremental Agreement from each Additional Lender in form and substance reasonably satisfactory to Agent (each, an “Incremental
Agreement”), duly executed by such Additional Lender, Agent (at the direction of the Required Lenders) and the Administrative
Borrower; and

 

(iii)        such
other documents, certificates, opinions, or other items (that are substantially consistent with the items delivered on the Closing
Date) as may be reasonably requested by Agent or the Incremental Revolving Lenders providing such Incremental Revolving Commitments;

 

(f)          On
the applicable Increase Date, upon fulfillment of the conditions set forth in Section 2.16(e), Agent shall notify the Lender
Group (including each Additional Lender) and the Administrative Borrower of the incurrence of the Incremental Revolving Commitments
to be effected on the related Increase Date and shall record in the Register the relevant information with respect to the Incremental
Revolving Lenders on such date.

 

(g)         Upon
any Increase Date on which any Incremental Revolving Commitments are effected if, on such Increase Date, there are any Revolving
Loans outstanding, each of the Lenders that has an existing Revolver Commitment or Revolving Loan, as applicable, shall assign
to each of the Incremental Revolving Lenders, and each of the Incremental Revolving Lenders shall purchase from each such Lender,
at par, such interests in the Revolving Loans outstanding on such Increase Date as shall be necessary in order that, after giving
effect to all such assignments and purchases, such Revolving Loans will be held by the Lenders with existing Revolver Commitments
or Revolving Loans, as applicable, and Incremental Revolving Lenders ratably in accordance with their Revolver Commitments after
giving effect to the addition of such Incremental Revolving Commitments.

 

2.17       Currencies.
The US Revolving Loans and other US Obligations (unless such other US Obligations expressly provide otherwise) shall be made and
repaid in Dollars. The UK Revolving Loans and other UK Obligations (unless such other UK Obligations expressly provide otherwise)
shall be made in Dollars or GBP, as selected by UK Administrative Borrower as provided herein. All such UK Obligations denominated
in GBP shall be repaid in GBP and all such UK Obligations denominated in Dollars shall be repaid in Dollars. Payment made in a
currency other than the currency in which the applicable Obligations are denominated may be accepted by Agent in its discretion
and if so accepted, the parties agree that Agent may convert the payment made to the currency of the applicable Obligations at
the applicable Spot Rate in accordance with its normal banking practices.

 

3.           CONDITIONS;
TERM OF AGREEMENT.

 

3.1         Conditions
Precedent to the Initial Extension of Credit. The obligation of each Lender to make the initial extensions of credit provided
for hereunder is subject to the fulfillment, to the satisfaction of Agent and each Lender, of each of the conditions precedent
set forth on Schedule 3.1 to this Agreement (the making of such initial extensions of credit by a Lender being conclusively
deemed to be its satisfaction or waiver of the conditions precedent).

 

    	 	46	 

     

    

 

3.2         Conditions
Precedent to all Extensions of Credit. Subject to Section 1.8 in the case of Limited Condition Transactions consummated
after the Closing Date, the obligation of the Lender Group (or any member thereof) to make any Revolving Loans hereunder (or to
extend any other credit hereunder) at any time shall be subject to the following conditions precedent:

 

(a)          at
and as of each extension of credit made after the Closing Date, each of the representations and warranties of each Loan Party or
its Subsidiaries contained in this Agreement or in the other Loan Documents shall be true and correct in all material respects
(except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified
or modified by materiality in the text thereof) on and as of the date of such extension of credit, as though made on and as of
such date (except to the extent that such representations and warranties relate solely to an earlier date);

 

(b)          at
and as of the date of each extension of credit made after the Closing Date, no Default or Event of Default shall have occurred
and be continuing on the date of such extension of credit, nor shall either result from the making thereof.

 

(c)          Agent
shall have received written notice of the request for such Revolving Loan in accordance with the terms of Section 2.3(a),
and

 

(d)          After
giving effect the borrowing of such Revolving Loans, the Revolver Usage shall not exceed the Maximum Revolver Amount.

 

3.3         Maturity.
The Commitments shall continue in full force and effect for a term ending on the Maturity Date (unless terminated earlier in
accordance with the terms hereof).

 

3.4         Effect
of Maturity. On the Maturity Date, all commitments of the Lender Group to provide additional credit hereunder shall automatically
be terminated and all of the Obligations (other than Hedge Obligations) immediately shall become due and payable without notice
or demand and Borrowers shall be required to repay all of the Obligations (other than Hedge Obligations) in full. No termination
of the obligations of the Lender Group (other than payment in full of the Obligations and termination of the Commitments) shall
relieve or discharge any Loan Party of its duties, obligations, or covenants hereunder or under any other Loan Document and Agent’s
Liens in the Collateral shall continue to secure the Obligations and shall remain in effect until all Obligations have been paid
in full. When all of the Obligations have been paid in full, Agent will, at Borrowers’ sole expense, execute and deliver
any termination statements, lien releases, discharges of security interests, and other similar discharge or release documents (and,
if applicable, in recordable form) as are reasonably necessary to release, as of record, Agent’s Liens and all notices of
security interests and liens previously filed by Agent.

 

3.5         Early
Termination by Borrowers. Borrowers have the option, at any time upon 5 Business Days prior written notice to Agent, to
repay all of the Obligations in full and terminate the Commitments. The foregoing notwithstanding, (a) Borrowers may rescind termination
notices relative to proposed payments in full of the Obligations with the proceeds of third party Indebtedness if the closing for
such issuance or incurrence does not happen on or before the date of the proposed termination (in which case, a new notice shall
be required to be sent in connection with any subsequent termination), and (b) Borrowers may extend the date of termination at
any time with the consent of Agent (which consent shall not be unreasonably withheld or delayed).

 

3.6         Conditions
Subsequent. The obligation of the Lender Group (or any member thereof) to continue to make Revolving Loans (or otherwise
extend credit hereunder) is subject to the fulfillment, on or before the date applicable thereto, of the conditions subsequent
set forth on Schedule 3.6 to this Agreement, unless such date is extended, in writing, by Agent, which Agent may do without
obtaining the consent of the other members of the Lender Group (the failure by Borrowers to so perform or cause to be performed
such conditions subsequent as and when required by the terms thereof, shall constitute an Event of Default).

 

    	 	47	 

     

    

 

4.           REPRESENTATIONS
AND WARRANTIES.

 

On the Closing Date
and on the other dates required pursuant to ‎Article 3, Holdings, Intermediate Holdings, CP Holdings LLC (in each case
solely with respect to Sections ‎4.1, 4.2, 4.3, ‎4.7, ‎4.8, 4.9, 4.13,
‎4.14, ‎4.15, ‎4.16 and ‎4.17), and the Borrowers, represent and warrant to the Lenders
that:

 

4.1         Organization;
Powers. Holdings, Intermediate Holdings, CP Holdings LLC, the Borrowers and each of their Restricted Subsidiaries (a) is
(i) duly organized and validly existing and (ii) in good standing (to the extent such concept exists in the relevant jurisdiction)
under the Requirements of Law of its jurisdiction of organization, (b) has all requisite organizational power and authority to
own its assets and to carry on its business as now conducted and (c) is qualified to do business in, and is in good standing (to
the extent such concept exists in the relevant jurisdiction) in, every jurisdiction where the ownership, lease or operation of
its properties or conduct of its business requires such qualification, except, in each case referred to in this ‎Section
4.1 (other than clause ‎(a)‎(i) with respect to the Borrowers) where the failure to do so, individually or in
the aggregate, would not reasonably be expected to result in a Material Adverse Effect.

 

4.2         Authorization;
Enforceability. The execution, delivery and performance by each Loan Party of each Loan Document to which such Loan Party
is a party are within such Loan Party’s corporate or other organizational power and have been duly authorized by all necessary
corporate or other organizational action of such Loan Party. Each Loan Document to which any Loan Party is a party has been duly
executed and delivered by such Loan Party and is a legal, valid and binding obligation of such Loan Party, enforceable against
such Loan Party in accordance with its terms, subject to the Legal Reservations.

 

4.3         Governmental
Approvals; No Conflicts. The execution and delivery of each Loan Document by each Loan Party party thereto and the performance
by such Loan Party thereof (a) do not require any consent or approval of, registration or filing with, or any other action by,
any Governmental Authority, except (i) such as have been obtained or made and are in full force and effect, (ii) in connection
with the Perfection Requirements and (iii) such consents, approvals, registrations, filings, or other actions the failure to obtain
or make which would not be reasonably expected to have a Material Adverse Effect, (b) will not violate any (i) of such Loan Party’s
Governing Documents or (ii) Requirement of Law applicable to such Loan Party which violation, in the case of this clause ‎(b)‎(ii),
would reasonably be expected to have a Material Adverse Effect and (c) will not violate or result in a default under any Contractual
Obligation to which such Loan Party is a party which violation, in the case of this clause ‎(c), would reasonably be
expected to result in a Material Adverse Effect.

 

4.4         Financial
Condition; No Material Adverse Effect.

 

(a)          The
financial statements of Holdings provided pursuant to ‎Item #10 of Schedule 3.1 present fairly, in all material
respects, the financial position and results of operations and cash flows of Holdings and its Subsidiaries on a consolidated basis
as of such dates and for such periods in accordance with GAAP, subject, in the case of any such unaudited financial statements,
to the absence of footnotes and normal year-end adjustments.

 

    	 	48	 

     

    

 

(b)          Since
the Closing Date, there have been no events, developments or circumstances that have had, or would reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect.

 

4.5         Properties.

 

(a)          As
of the Closing Date, Schedule 4.5(a) sets forth the address of each Real Property (or each set of such assets that collectively
comprise one operating property) having a fair market value in excess of $5,000,000 that is owned in fee simple by any Loan Party.

 

(b)          The
Borrowers and each of their Restricted Subsidiaries have good and valid fee simple title to or rights to purchase, or valid leasehold
interests in, or easements or other limited property interests in or in the case of any UK Loan Party, legal title to and beneficial
interest in all of their respective Real Property and have good title to their personal property and assets, in each case, except
(i) for defects in title that do not materially interfere with their ability to conduct their business as currently conducted or
to utilize such properties and assets for their intended purposes or (ii) where the failure to have such title or rights would
not reasonably be expected to have a Material Adverse Effect.

 

(c)          The
Borrowers and their Restricted Subsidiaries solely and exclusively own or otherwise have a valid license or right to use all rights
in any and all intellectual property or other similar proprietary rights throughout the world, including any and all Patents, Trademarks,
Copyrights, domain names, design rights, proprietary rights, technology, software, trade secrets, know-how, database rights and
all related documentation, registrations, additions, improvements or accessions, and all goodwill and rights to sue for past, present
and future infringement associated with any of the foregoing (collectively, “IP Rights”) that are used in, held
for use in or otherwise necessary for their respective businesses as presently conducted without any infringement, dilution, misappropriation
or other violation of the IP Rights of third parties, except to the extent the failure to own or have a license or have rights
to use would not, or where such infringement, dilution, misappropriation or other violation would not reasonably be expected to
have, individually or in the aggregate, a Material Adverse Effect. To the knowledge of the Borrowers, neither the Borrowers nor
any of their Restricted Subsidiaries infringes upon, misuses, dilutes, misappropriates or otherwise violates any IP Rights held
by any Person, except any such infringement, misuse, dilution, misappropriation or other violation would not reasonably be expected
to have, individually or in the aggregate, a Material Adverse Effect. No claim or litigation regarding any IP Rights is pending
or, to the knowledge of the Borrowers, threatened in writing against Borrower or any Restricted Subsidiary, that would reasonably
be expected to have, individually or in the aggregate, a Material Adverse Effect.

 

4.6         Litigation
and Environmental Matters.

 

(a)          There
are no actions, suits or proceedings by or before any arbitrator or Governmental Authority pending against or, to the knowledge
of the Borrowers, threatened in writing against or affecting the Borrowers or any of their Restricted Subsidiaries which would
reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect.

 

(b)          Except
for any matters that, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect,
(i) neither the Borrowers nor any of their Restricted Subsidiaries are subject to or have received written notice of any Environmental
Claim or knows of any basis for any Environmental Claim against the Borrowers or their Restricted Subsidiaries and (ii) neither
the Borrowers nor any of their Restricted Subsidiaries (A) have failed to comply with any Environmental Law or to obtain, maintain
or comply with any Governmental Authorization required under any Environmental Law or (B) is subject to, or knows of any basis
for, any Environmental Liability.

 

    	 	49	 

     

    

 

(c)          Neither
the Borrowers nor any of their Restricted Subsidiaries have conducted any Hazardous Materials Activities in a manner that would
reasonably be expected to have a Material Adverse Effect.

 

4.7         Compliance
with Laws. Each of Holdings, Intermediate Holdings, CP Holdings LLC, the Borrowers and each of their Restricted Subsidiaries
is in compliance with all Requirements of Law applicable to it or its property, except, in each case, where the failure to do so,
individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect; it being understood
and agreed that this ‎Section 4.7 shall not apply to the Requirements of Law covered by ‎Section 4.15.

 

4.8         Investment
Company Status. None of the Loan Parties is an “investment company” as defined in, or is required to be registered
under, the Investment Company Act of 1940.

 

4.9         Taxes.
Each of Holdings, Intermediate Holdings, CP Holdings LLC, the Borrowers and each of their Restricted Subsidiaries has timely filed
or caused to be filed all Tax returns and reports required to have been filed and has paid or caused to be paid all Taxes required
to have been paid by it that are due and payable (including in its capacity as a withholding agent), except (a) Taxes (or any requirement
to file Tax returns with respect thereto) that are being contested in good faith by appropriate proceedings and for which Holdings,
Intermediate Holdings, CP Holdings LLC, the Borrowers or such Restricted Subsidiary, as applicable, has set aside on its books
adequate reserves in accordance with GAAP or (b) to the extent that the failure to do so, individually or in the aggregate, would
not reasonably be expected to result in a Material Adverse Effect.

 

4.10       ERISA.

 

(a)          Each
Plan is in compliance in form and operation with its terms and with ERISA and the IRC and all other applicable Requirements of
Law, except where any failure to comply would not reasonably be expected to result in a Material Adverse Effect. There are no pending,
or to the knowledge of the Borrowers or any of their Restricted Subsidiaries, threatened material claims (other than claims for
benefits in the ordinary course), sanctions, actions, suits, or proceedings asserted or instituted by any Person against any Plan
or any Person as fiduciary or sponsor of any Plan, except as would not result in a Material Adverse Effect.

 

(b)          No
ERISA Event has occurred and is continuing or is reasonably expected to occur that, when taken together with all other such ERISA
Events, would reasonably be expected to result in a Material Adverse Effect.

 

4.11       Disclosure.

 

(a)          As
of the Closing Date, all written information (other than the Projections, other forward-looking and/or projected information and
information of a general economic or industry-specific nature) concerning Holdings, Intermediate Holdings, CP Holdings LLC, the
Borrowers and their subsidiaries that was included in the Information Memorandum or otherwise prepared by or on behalf of Holdings,
Intermediate Holdings, CP Holdings LLC, the Borrowers and their subsidiaries or their respective representatives and made available
to Lender or Agent in connection with the Transactions on or before the Closing Date (the “Information”), when
taken as a whole, did not, when furnished, contain any untrue statement of a material fact or omit to state a material fact necessary
in order to make the statements contained therein not materially misleading in light of the circumstances under which such statements
are made (after giving effect to all supplements and updates thereto from time to time).

 

    	 	50	 

     

    

 

(b)          The
Projections have been prepared in good faith based upon assumptions believed by the Borrowers to be reasonable at the time furnished
(it being recognized that such Projections are not to be viewed as facts and are subject to significant uncertainties and contingencies,
many of which are beyond the Borrowers’ control, that no assurance can be given that any particular financial projections
will be realized, that actual results may differ from projected results and that such differences may be material).

 

(c)          As
of the Closing Date, the information included in the Beneficial Ownership Certification is true and correct in all material respects.

 

4.12       Security
Interest in Collateral. Subject to the terms of the last paragraph of Schedule 3.1, the Legal Reservations, the
Perfection Requirements, the Intercreditor Agreement and the provisions of this Agreement and the other relevant Loan Documents,
the Security Documents create legal, valid and enforceable Liens on all of the Collateral in favor of Agent and/or UK Security
Agent for the benefit of itself and the other Secured Parties, and upon the satisfaction of the applicable Perfection Requirements,
such Liens constitute perfected Liens (with the priority that such Liens are expressed to have under the relevant Security Documents)
on the Collateral (to the extent such Liens are required to be perfected under the terms of the Loan Documents) securing the Obligations,
in each case as and to the extent set forth therein.

 

4.13       Labor
Disputes. As of the Closing Date, except as individually or in the aggregate would not reasonably be expected to have a
Material Adverse Effect, (a) there are no strikes, lockouts or slowdowns against the Borrowers or any of their Restricted Subsidiaries
pending or, to the knowledge of the Borrowers, threatened and (b) the hours worked by and payments made to employees of the Borrowers
and their Restricted Subsidiaries have not been in violation of the Fair Labor Standards Act or any other applicable Requirements
of Law dealing with such matters.

 

4.14       Federal
Reserve Regulations.

 

(a)          None
of Holdings, Intermediate Holdings, CP Holdings LLC, the Borrowers nor any of their respective Restricted Subsidiaries is engaged
principally, or as one of its important activities, in the business of extending credit for the purpose of buying or carrying Margin
Stock.

 

(b)          No
part of the proceeds of any Loan has been or will be used, whether directly or indirectly, and whether immediately, incidentally
or ultimately, for any purpose that results in a violation of the provisions of Regulation U or Regulation X.

 

4.15       OFAC;
Sanctions; Anti-Corruption Laws; Anti-Money Laundering Laws. No Loan Party or any of its Subsidiaries is in violation of
any Sanctions. No Loan Party nor any of its Subsidiaries nor, to the knowledge of such Loan Party, any director, officer, employee,
agent or Affiliate of such Loan Party or such Subsidiary (a) is a Sanctioned Person or a Sanctioned Entity, (b) has any assets
located in Sanctioned Entities, or (c) derives revenues from investments in, or transactions with Sanctioned Persons or Sanctioned
Entities. Each of the Loan Parties and its Subsidiaries has implemented and maintains in effect policies and procedures designed
to ensure compliance with all Sanctions, Anti-Corruption Laws and Anti-Money Laundering Laws. Each of the Loan Parties and its
Subsidiaries, and to the knowledge of each such Loan Party, each director, officer, employee, agent and Affiliate of each such
Loan Party and each such Subsidiary, is in compliance with all Sanctions, Anti-Corruption Laws and Anti-Money Laundering Laws.
No proceeds of any Loan made or Letter of Credit issued hereunder will be used to fund any operations in, finance any investments
or activities in, or make any payments to, a Sanctioned Person or a Sanctioned Entity, or otherwise used in any manner that would
result in a violation of any Sanction, Anti-Corruption Law or Anti-Money Laundering Law by any Person (including any Lender, Bank
Product Provider, or other individual or entity participating in any transaction).

 

    	 	51	 

     

    

 

4.16       Solvency.

 

(a) The sum of the
debt (including contingent liabilities) of Holdings and its Subsidiaries, taken as a whole, does not exceed the fair value of the
assets (on an ongoing basis) of Holdings and its Subsidiaries, taken as a whole; (b) the present fair saleable value of the assets
of Holdings and its Subsidiaries, taken as a whole, is not less than the amount that will be required to pay the probable liabilities
(including contingent liabilities) of Holdings and its Subsidiaries, taken as a whole, on their debts as they become absolute and
matured; (c) the capital of Holdings and its Subsidiaries, taken as a whole, is not unreasonably small in relation to the business
of Holdings and its Subsidiaries, taken as a whole, contemplated as of the Closing Date; and (d) Holdings and its Subsidiaries,
taken as a whole, do not intend to incur, or believe that they will incur, debts (including current obligations and contingent
liabilities) beyond their ability to pay such debt as they mature in the ordinary course of business. For the purposes hereof,
the amount of any contingent liability at any time shall be computed as the amount that, in light of all of the facts and circumstances
existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability.

 

4.17       Capitalization
and Subsidiaries. Schedule 4.17 sets forth as of the Closing Date (immediately after giving to the Transactions)
a correct and complete list containing (a) the name of each subsidiary of Holdings and the ownership interest therein held by Holdings
or its applicable subsidiary, and (b) the type of entity of Holdings and each of its subsidiaries.

 

4.18       [Reserved].

 

4.19       Patriot
Act. To the extent applicable, each Loan Party is in compliance, in all material respects, with the (a) Trading with the
Enemy Act, as amended, and each of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle
B, Chapter V, as amended) and any other enabling legislation or executive order relating thereto, and (b) Uniting and Strengthening
America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA Patriot Act of 2001, as amended) (the
“Patriot Act”). No part of the proceeds of the loans made hereunder will be used by any Loan Party or any of
their Affiliates, directly or indirectly, for any payments to any governmental official or employee, political party, official
of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain
or direct business or obtain any improper advantage, in violation of (x) the United States Foreign Corrupt Practices Act of 1977,
as amended, (y) the UK Bribery Act 2010, or (z) other similar legislation in other relevant jurisdictions.

 

4.20       Centre
of Main Interests and Establishments. For the purposes of Regulation (EU) 2015/848 of 20 May 2015 on insolvency proceedings
(recast) (the “Regulation”), (i) the centre of main interest (as that term is used in Article 3(1) of the Regulation)
of each UK Loan Party is situated in England and Wales and it has no “establishment” (as that term is used in Article
2(10) of the Regulation) in any other jurisdiction, and (ii) no Loan Party (to the extent such Loan Party is subject to the Regulation)
shall have a centre of main interest other than as situated in its jurisdiction of incorporation or organization.

 

4.21       [Reserved].

 

    	 	52	 

     

    

 

4.22       Eligible
Accounts. As to each Account that is identified by Borrowers as an Eligible Account in a Borrowing Base Certificate submitted
to Agent, as of the date of such Borrowing Base Certificate, such Account is (a) a bona fide existing payment obligation of the
applicable Account Debtor created by the sale and delivery of Inventory or the rendition of services to such Account Debtor in
the ordinary course of the Borrowers’ business, (b) owed to a Borrower without any known defenses, disputes, offsets, counterclaims,
or rights of return or cancellation, and (c) not excluded as ineligible by virtue of one or more of the excluding criteria (other
than any Agent-discretionary criteria) set forth in the definition of Eligible Accounts.

 

4.23       UK
Pension Plans. No UK Borrower has:

 

(a)          at
any time been an employer (for the purposes of sections 38 to 51 of the Pensions Act 2004 (UK) or its equivalent in any jurisdiction)
of an occupational pension scheme which is not a money purchase scheme (both terms as defined in the Pensions Schemes Act 1993
(UK));

 

(b)          at
any time been “connected” with or an “associate” of (as those terms are used in sections 38 and 43 of the
Pensions Act 2004 (UK)) such an employer;

 

(c)          been
issued with a Financial Support Direction or Contribution Notice in respect of any pension scheme; or

 

(d)          requested
or been granted contribution holiday in respect of any occupational pension scheme.

 

4.24       Eligible
Rolling Stock Collateral.

 

(a)          As
to each item of Rolling Stock or UK Equipment that is identified by UK Borrowers to Agent as Eligible Rolling Stock Collateral
and in each case as of the date of the relevant Borrowing Base Certificate, such Rolling Stock and UK Equipment is (a) in good
working order and condition, ordinary wear, tear, casualty, and condemnation and permitted Dispositions excepted, and (b) not excluded
as ineligible by virtue of one or more of the excluding criteria (other than any Agent-discretionary criteria) set forth in the
definition of Eligible Rolling Stock Collateral.

 

(b)          All
of the Rolling Stock which constitutes Eligible Rolling Stock Collateral: (i) is owned by a UK Borrower, (ii) was included in the
appraisal thereof delivered to Agent prior to the Closing Date, (iii) is subject to the valid and perfected first priority security
interest of UK Security Agent, (iv) is not subject to a Lien in favor of any person other than UK Security Agent, (v) is not subject
to any lease, other than leases between or among the Loan Parties, (vi) is used by a UK Borrower in the ordinary course of such
UK Borrower’s business, (vii) meets, in all material respects, all applicable safety or regulatory standards applicable to
it for the use for which it is intended or for which it is being used, (viii) meets, in all material respects, all applicable standards
of all motor vehicle laws or other statutes and regulations established by any Governmental Authority and is not subject to any
licensing or similar requirement that would limit the right of Agent and/or UK Security Agent to sell or otherwise Dispose of such
Rolling Stock, and (ix) is covered by an insurance policy of the applicable UK Borrower in such amounts as are acceptable to Agent,
which insurance policy provides that Agent is a loss payee, in the case of a casualty or other loss thereto, or in the case of
liabilities, losses or damages incurred “over the road”, is self-insured in accordance with the applicable UK Borrower’s
customary practices.

 

    	 	53	 

     

    

 

4.25       Location
of Inventory, Equipment and Rolling Stock. The Inventory, Equipment and Rolling Stock of Holdings and its Subsidiaries
is not stored with a bailee, warehouseman, or similar party and is located only at, or in-transit between, the locations identified
on Schedule 4.25 (as such Schedule may be updated pursuant to Section 5.17) other than (i) with respect to Rolling
Stock (and UK Equipment related thereto) in “over the road use”, out for repair or out on assignment, in each case,
in the ordinary course of business and (ii) leased locations at which the value of the Inventory, Equipment and Rolling Stock of
Holdings and its Subsidiaries located thereon is less than $500,000 in the aggregate.

 

4.26       Inventory,
Equipment and Rolling Stock Records. Each Loan Party keeps, in all material respects, correct and accurate records itemizing
and describing the type, quality, and quantity of its and its Subsidiaries’ Inventory, Equipment and Rolling Stock and, in
each case, the book value thereof.

 

5.           AFFIRMATIVE
COVENANTS.

 

From the Closing Date
until the date that all Commitments have expired or terminated and the principal of and interest on each Loan and all fees, expenses
and other amounts payable under any Loan Document (other than contingent indemnification obligations for which no claim or demand
has been made) have been paid in full in cash (such date, the “Termination Date”), Holdings (solely with respect
to ‎Section 5.1(a), ‎5.1(b), 5.3, 5.4, ‎5.12 and ‎5.14), Intermediate
Holdings (solely with respect to ‎Section 5.3, ‎5.4, ‎5.12 and ‎5.14), CP Holdings
LLC (solely with respect to ‎Section 5.3, ‎5.4, ‎5.12 and ‎5.14), and the Borrowers
hereby covenant and agree with the Lenders that:

 

5.1         Financial
Statements and Other Reports. Holdings will deliver to Agent for delivery to each Lender:

 

(a)          Quarterly
Financial Statements. As soon as available, and in any event within 45 days after the end of each of the first three Fiscal
Quarters of each Fiscal Year, the consolidated balance sheet of Holdings as at the end of such Fiscal Quarter and the related consolidated
statements of operations and cash flows of Holdings for such Fiscal Quarter and for the period from the beginning of the then current
Fiscal Year to the end of such Fiscal Quarter, and setting forth, in reasonable detail, in comparative form the corresponding figures
for the corresponding periods of the previous Fiscal Year, all in reasonable detail, together with a Responsible Officer Certification
(which may be included in the applicable Compliance Certificate) with respect thereto; provided, that any comparison to
a prior period will be a comparison between the entity or entities, as applicable, that issued the financial statements at the
applicable time;

 

(b)          Annual
Financial Statements. As soon as available, and in any event within 90 days after the end of each Fiscal Year, (i) the consolidated
balance sheet of Holdings as at the end of such Fiscal Year and the related consolidated statements of operations, stockholders’
equity and cash flows of Holdings for such Fiscal Year and, commencing after the completion of the second full Fiscal Year ended
after the Closing Date, setting forth, in reasonable detail, in comparative form the corresponding figures for the previous Fiscal
Year and (ii) with respect to such consolidated financial statements, a report thereon of BDO USA, LLP or another independent certified
public accountant of recognized national standing (which report shall be unqualified as to “going concern” and
scope of audit (except for any such qualification pertaining to the impending maturity of any Indebtedness (including Indebtedness
hereunder and/or the Term Loan Facility) occurring within 12 months of the date of the relevant audit opinion or the actual or
prospective breach of any financial covenant), and shall state that such consolidated financial statements fairly present, in all
material respects, the consolidated financial position of Holdings as at the dates indicated and the results of its operations
and cash flows for the periods indicated in conformity with GAAP);

 

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(c)          Compliance
Certificate. Together with each delivery of financial statements of Holdings pursuant to Sections ‎5.1(a) and ‎(b),
(i) a duly executed and completed Compliance Certificate and (ii) (A) a summary of the pro forma adjustments necessary to eliminate
the accounts of Unrestricted Subsidiaries (if any) from such financial statements and (B) a list identifying each subsidiary of
the Borrowers as a Restricted Subsidiary or an Unrestricted Subsidiary as of the date of delivery of such Compliance Certificate
or confirming that there is no change in such information since the later of the Closing Date and the date of the last such list;

 

(d)          Narrative
Report. Simultaneously with the delivery of each set of consolidated financial statements referred to in Sections ‎5.1(a)
and ‎(b) above, a Narrative Report;

 

(e)          Notice
of Default. Promptly upon any Responsible Officer of a Borrower obtaining knowledge of (i) any Default or Event of Default
or (ii) the occurrence of any event or change that has caused or evidences, either individually or in the aggregate, a Material
Adverse Effect, a reasonably-detailed notice specifying the nature and period of existence of such condition, event or change and
what action such Borrower has taken, is taking and proposes to take with respect thereto;

 

(f)          Notice
of Litigation. Promptly upon any Responsible Officer of a Borrower obtaining knowledge of (i) the institution of, or threat
of, any Adverse Proceeding not previously disclosed in writing by a Borrower to the Lenders, or (ii) any material development in
any Adverse Proceeding that, in the case of either clause ‎(i) or ‎(ii), could reasonably be expected to
have a Material Adverse Effect, written notice thereof from the Borrowers together with such other non-privileged information as
may be reasonably available to the Loan Parties to enable the Lenders to evaluate such matters;

 

(g)          ERISA.
Promptly upon any Responsible Officer of a Borrower becoming aware that any ERISA Event has occurred or is reasonably expected
to occur that, alone or together with any other ERISA Event that has occurred or is reasonably expected to occur, could reasonably
be expected to have a Material Adverse Effect, a written notice specifying the nature thereof;

 

(h)          Financial
Plan. As soon as available and in any event no later than 60 days after the beginning of each Fiscal Year, an annual budget
prepared by management of Holdings, consisting of condensed income statements on an annual basis for such Fiscal Year (such budget,
the “Financial Plan”);

 

(i)          Information
Regarding Collateral. Promptly (and, in any event, within 60 days of the relevant change (or such later date as Agent may reasonably
agree)) written notice of any change (i) in any Loan Party’s legal name, (ii) in any Loan Party’s type of organization
or (iii) in any Loan Party’s jurisdiction of organization, in each case to the extent such information is necessary to enable
Agent to perfect or maintain the perfection and priority of its or UK Security Agent’s security interest in the Collateral
of the relevant Loan Party;

 

(j)          Collateral
Verification. Together with the delivery of each Compliance Certificate provided with the financial statements required to
be delivered pursuant to ‎Section 5.1(b), a supplement to the Perfection Certificate;

 

(k)          Beneficial
Ownership Updates. Written notification of any change in the information provided in the Beneficial Ownership Certification
that would result in a change to the list of beneficial owners identified in parts (c) or (d) of such certification.

 

(l)           Certain
Reports. Promptly upon their becoming available and without duplication of any obligations with respect to any such information
that is otherwise required to be delivered under the provisions of any Loan Document, copies of all regular and periodic reports
and all registration statements (other than on Form S-8 or a similar form) and prospectuses, if any, filed by Holdings, Intermediate
Holdings, CP Holdings LLC, or any Borrower or its applicable Parent Company with any securities exchange or with the SEC or any
analogous governmental or private regulatory authority with jurisdiction over matters relating to securities;

 

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(m)          Other
Information. Such other certificates, reports and information (financial or otherwise) as Agent may reasonably request from
time to time in connection with the financial condition or business of Holdings, Intermediate Holdings, CP Holdings LLC, the Borrowers
and their Restricted Subsidiaries, including information and documentation reasonably requested by Agent or any Lender for purposes
of compliance with applicable “know your customer” requirements under the USA PATRIOT Act or other applicable anti-money
laundering laws; provided, however, that none of Holdings, Intermediate Holdings, CP Holdings LLC, the Borrowers nor any Restricted
Subsidiary shall be required to disclose or provide any information (i) that constitutes non-financial trade secrets or non-financial
proprietary information of Holdings, Intermediate Holdings, CP Holdings LLC, the Borrowers or any of their subsidiaries or any
of their respective customers and/or suppliers, (ii) in respect of which disclosure to Agent or any Lender (or any of their respective
representatives) is prohibited by applicable Requirements of Law, (iii) that is subject to attorney-client or similar privilege
or constitutes attorney work product or (iv) in respect of which Holdings, Intermediate Holdings, CP Holdings LLC, the Borrowers
or any Restricted Subsidiary owes confidentiality obligations to any third party (provided such confidentiality obligations
were not entered into in contemplation of the requirements of this ‎Section 5.1(m)); provided, further
to the extent any certificates, reports or other information are withheld or otherwise not provided in reliance on any of the foregoing
clauses ‎(i) through ‎(iv), Holdings will provide notice to Agent that such information is being withheld
and Holdings shall use commercially reasonable efforts to obtain the relevant consents under such obligations of confidentiality
to permit the provision of such information; and

 

Holdings hereby acknowledges
that (a) Agent and/or Lead Arranger will make available to the Lenders materials and/or information provided by or on behalf of
Holdings hereunder (collectively, “Holdings Materials”) by posting the Holdings Materials on IntraLinks or another
similar electronic system (the “Platform”) and (b) Public Lenders may have personnel who do not wish to receive
MNPI with respect to the Holdings and its Restricted Subsidiaries, or the respective securities of any of the foregoing, and who
may be engaged in investment and other market-related activities with respect to any such Persons’ securities. Holdings hereby
agrees that it will use commercially reasonable efforts to identify that portion of the Holdings Materials that may be distributed
to the Public Lenders and that (w) all such Holdings Materials shall be clearly and conspicuously marked “PUBLIC” which,
at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page thereof; (x) by marking
Holdings Materials “PUBLIC,” Holdings shall be deemed to have authorized Agent, Lead Arranger, the Issuing Banks and
the Lenders to treat such Holdings Materials as not containing any MNPI (although it may be sensitive and proprietary) (provided,
however, that to the extent such Holdings Materials constitute Information, they shall be treated as set forth in ‎Section
17.9); (y) all Holdings Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform
designated “Public Side Information;” and (z) Agent and Lead Arranger shall treat any Holdings Materials that are not
marked “PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public Side Information.”
Notwithstanding the foregoing, Holdings shall not be under any obligation to mark any Holdings Materials “PUBLIC.”
Holdings agrees that (i) any Loan Documents, (ii) any financial statements delivered pursuant to ‎Section 5.1 and (iii)
any Compliance Certificates (excluding any annual budget required to be delivered pursuant to ‎Section 5.1(h) to the
extent attached to any Compliance Certificate) delivered pursuant to ‎Section 5.1(c) will, in each case, be deemed to
be “public-side” Holdings Materials and may be made available to Lenders; provided, however, that to the extent
Holdings believes in good faith that any Compliance Certificate (excluding any annual budget) contains MNPI, and Holdings so advises
Agent in writing at the time of delivery of such Compliance Certificate, such Compliance Certificate shall not be deemed to be
“public-side” Holdings Materials, but Holdings shall promptly provide Agent with a version of such Compliance Certificate
that redacts any portions thereof that contain MNPI so that such redacted version may be “public-side” Holdings Materials.

 

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5.2         Reporting.
Borrowers (a) will deliver to Agent (and if so requested by Agent, with copies for each Lender) each of the documents and other
reports set forth on Schedule 5.2 at the times specified therein, and (b) agree to use commercially reasonable efforts in
cooperation with Agent to facilitate and implement a system of electronic collateral reporting in order to provide electronic reporting
of each of the items set forth on such Schedule.

 

5.3         Existence.
Except as otherwise permitted under ‎Section 6.7 or ‎Section 6.11, Holdings, Intermediate Holdings, CP Holdings
LLC, and the Borrowers will, and the Borrowers will cause each of their Restricted Subsidiaries to, at all times preserve and keep
in full force and effect its existence and all rights and franchises, licenses and permits material to its business except, other
than with respect to the preservation of the existence of the Borrowers, to the extent that the failure to do so would not reasonably
be expected to result in a Material Adverse Effect; provided that, neither Holdings, Intermediate Holdings, CP Holdings
LLC, nor the Borrowers nor any of their Restricted Subsidiaries shall be required to preserve any such existence (other than with
respect to the preservation of existence of the Borrowers), right, franchise, license or permit if a Responsible Officer of such
Person or such Person’s Board of Directors (or similar governing body) determines that the preservation thereof is no longer
desirable in the conduct of the business of such Person, and that the loss thereof is not disadvantageous in any material respect
to such Person or to the Lenders.

 

5.4         Payment
of Taxes. Each of Holdings, Intermediate Holdings, CP Holdings LLC, and the Borrowers will, and the Borrowers will cause
each of their Restricted Subsidiaries to, pay all Taxes imposed upon it or any of its properties or assets or in respect of any
of its income or businesses or franchises as the same become due and payable; provided, however, that no such Tax
need be paid if (a) it is being contested in good faith by appropriate proceedings, so long as (i) adequate reserves or other appropriate
provisions, as are required in conformity with GAAP, have been made therefor and (ii) in the case of a Tax which has resulted or
may result in the creation of a Lien on any of the Collateral, such contest proceedings conclusively operate to stay the sale of
any portion of the Collateral to satisfy such Tax or (b) failure to pay or discharge the same would not reasonably be expected
to result in a Material Adverse Effect.

 

5.5         Maintenance
of Properties. The Borrowers will, and the Borrowers will cause each of their Restricted Subsidiaries to, maintain or cause
to be maintained in good repair, working order and condition, ordinary wear and tear excepted, all property (including all IP Rights)
reasonably necessary to the normal conduct of business of the Borrowers and their Restricted Subsidiaries and from time to time
will make or cause to be made all needed and appropriate repairs, renewals and replacements thereof except as expressly permitted
by this Agreement or where the failure to maintain such properties or make such repairs, renewals or replacements would not reasonably
be expected to have a Material Adverse Effect. In addition, the Borrowers will, and will cause each of their Restricted Subsidiaries
to take all reasonable actions to preserve, protect, enforce, renew and keep in full force and effect all IP Rights used in their
respective businesses except where the failure to so preserve, protect, enforce, renew or keep in full force would not reasonably
be expected to have a Material Adverse Effect.

 

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5.6         Insurance.
Holdings, Intermediate Holdings, CP Holdings LLC, and each Borrower will, and will cause each of its Subsidiaries to, at Borrowers’
expense, maintain insurance respecting each of Holdings’ and its Subsidiaries’ assets wherever located, covering liabilities,
losses or damages as are customarily are insured against by other Persons engaged in same or similar businesses and similarly situated
and located All such policies of insurance shall be with financially sound and reputable insurance companies acceptable to Agent
and in such amounts as is carried generally in accordance with sound business practice by companies in similar businesses similarly
situated and located and, in any event, in amount, adequacy, and scope reasonably satisfactory to Agent (it being agreed that the
amount, adequacy, and scope of the policies of insurance of Borrowers in effect as of the Closing Date are acceptable to Agent).
All property insurance policies are to be made payable to Agent for the benefit of Agent and the Lenders, as their interests may
appear, in case of loss, pursuant to a standard lender’s loss payable endorsement with a standard non-contributory “lender”
or “secured party” clause and are to contain such other provisions as Agent may reasonably require to fully protect
the Lenders’ interest in the Collateral and to any payments to be made under such policies. All certificates of property
and general liability insurance are to be delivered to Agent, with the lender’s loss payable and additional insured endorsements
in favor of Agent and shall provide for not less than 30 days (10 days in the case of non-payment) prior written notice to Agent
of the exercise of any right of cancellation. If Holdings or its Subsidiaries fails to maintain such insurance, Agent may arrange
for such insurance, but at the Loan Parties’ expense and without any responsibility on Agent’s part for obtaining the
insurance, the solvency of the insurance companies, the adequacy of the coverage, or the collection of claims. Borrowers shall
give Agent prompt notice of any loss exceeding $1,000,000 covered by Holdings’ or its Subsidiaries’ casualty or business
interruption insurance. Upon the occurrence and during the continuance of an Event of Default, Agent shall have the sole right
to file claims under any property and general liability insurance policies in respect of the Collateral, to receive, receipt and
give acquittance for any payments that may be payable thereunder, and to execute any and all endorsements, receipts, releases,
assignments, reassignments or other documents that may be necessary to effect the collection, compromise or settlement of any claims
under any such insurance policies.

 

5.7         Inspections.
Holdings will, and Holdings will cause each of its Restricted Subsidiaries to, permit any authorized representative designated
by Agent to visit and inspect any of the properties of Holdings or any of its Restricted Subsidiaries at which the principal financial
records and executive officers of the applicable Person are located, to inspect, copy and take extracts from its and their respective
financial and accounting records, and to discuss its and their respective affairs, finances and accounts with its and their Responsible
Officers (provided that Holdings(or any of its Subsidiaries) may, if it so chooses, be present at or participate in any
such discussion), all upon reasonable notice and at reasonable times during normal business hours; provided that, (a) only
Agent on behalf of the Lenders may exercise the rights of Agent and the Lenders under this ‎Section 5.7 and (b) except
as expressly set forth in the proviso below during the continuance of an Event of Default, (i) Agent shall not exercise such rights
more often than one time during any calendar year and (ii) only one such time per calendar year shall be at the expense of Holdings;
provided, further, that when an Event of Default exists, Agent (or any of its representatives or independent contractors) may do
any of the foregoing at the expense of Holdings at any time during normal business hours and upon reasonable advance notice; provided,
further, that notwithstanding anything to the contrary herein, neither Holdings nor any Restricted Subsidiary shall be required
to disclose, permit the inspection, examination or making of copies of or taking abstracts from, or discuss any document, information,
or other matter (A) that constitutes non-financial trade secrets or non-financial proprietary information of Holdings and its subsidiaries
and/or any of its customers and/or suppliers, (B) in respect of which disclosure to Agent or any Lender (or any of their respective
representatives or contractors) is prohibited by applicable Requirements of Law, (C) that is subject to attorney-client or similar
privilege or constitutes attorney work product or (D) in respect of which Holdings, Intermediate Holdings, CP Holdings LLC, the
Borrowers or any Restricted Subsidiary owes confidentiality obligations to any third party (provided such confidentiality obligations
were not entered into in contemplation of the requirements of this ‎Section 5.7); provided, to the extent any
documents, information or other matters are withheld or otherwise not made available for inspection in reliance on any of the foregoing
clauses ‎(A) through ‎(D), Holdings will provide notice to Agent that such information is being withheld
and Holdings shall use commercially reasonable efforts to obtain the relevant consents under such obligations of confidentiality
to permit the provision or inspection of such documents, information or other matters.

 

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5.8         Maintenance
of Book and Records. Holdings will, and Holdings will cause each of its Restricted Subsidiaries to, maintain proper books
of record and account containing entries of all material financial transactions and matters involving the assets and business of
Holdings and its Restricted Subsidiaries that are full, true and correct in all material respects and permit the preparation of
consolidated financial statements in accordance with GAAP (it being understood and agreed that Foreign Subsidiaries may maintain
individual books and records in a manner to allow financial statements to be prepared in conformity with generally accepted accounting
principles that are applicable in their respective jurisdictions of organization).

 

5.9         Compliance
with Laws. Holdings will, and Holdings will cause each of its Restricted Subsidiaries to, comply with the requirements
of all applicable Requirements of Law (including all applicable Environmental Laws and ERISA, but excluding Sanctions, the Patriot
Act and the Anti-Corruption Laws), except to the extent the failure of Holdings or the relevant Restricted Subsidiary to comply
would not reasonably be expected to have a Material Adverse Effect.

 

5.10       Environmental.

 

(a)         Environmental
Disclosure. Holdings will deliver to the Agent:

 

(i)          as
soon as practicable following receipt thereof, copies of all environmental audits, investigations, analyses and reports of any
kind or character, whether prepared by personnel of Holdings or any of its Restricted Subsidiaries or by independent consultants,
Governmental Authorities or any other Persons, with respect to environmental matters at Holdings’ or its Restricted Subsidiaries’
real property or with respect to any Environmental Claims or Environmental Liabilities that, in each case might reasonably be expected
to have a Material Adverse Effect;

 

(ii)         promptly
upon the occurrence thereof, written notice describing in reasonable detail (A) any Release that would reasonably be expected to
have a Material Adverse Effect, (B) any action taken by Holdings or any of its Restricted Subsidiaries or any other Persons of
which Holdings has knowledge in response to (1) any Hazardous Materials Activities, (2) any Environmental Claim or (3) any Environmental
Liability that in each case would reasonably be expected to have a Material Adverse Effect, or (C) discovery by Holdings or any
of its Restricted Subsidiaries of any occurrence or condition on or at any Real Property or any real property adjoining or in the
vicinity of Real Property would be expected, individually or in the aggregate, to have a Material Adverse Effect;

 

(iii)        as
soon as practicable following the sending or receipt thereof by the Holdings or any of its Restricted Subsidiaries, a copy of any
and all written communications with respect to any of the following that would reasonably be expected to have a Material Adverse
Effect: (A) any Environmental Claim, (B) any Release, (C) any Environmental Liability and (D) any request made to Holdings or any
of its Restricted Subsidiaries for information from any Governmental Authority that suggests such Governmental Authority is investigating
whether Holdings or any of its Restricted Subsidiaries may be potentially responsible for any Hazardous Materials Activity;

 

(iv)        prompt
written notice describing in reasonable detail (A) any proposed acquisition of stock, assets, or property by Holdings or any of
its Restricted Subsidiaries that would reasonably be expected to expose Holdings or any of its Restricted Subsidiaries to, or result
in, Environmental Claims against Holdings or any of its Restricted Subsidiaries or any Environmental Liability that would reasonably
be expected to have, individually or in the aggregate, a Material Adverse Effect and (B) any proposed action to be taken by Holdings
or any of its Restricted Subsidiaries to modify their operations in a manner that would subject Holdings or any of its Restricted
Subsidiaries to (x) any additional obligations or requirements under any Environmental Law or (y) Environmental Liability, in each
case, that would reasonably be expected to have a Material Adverse Effect; and

 

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(v)         with
reasonable promptness, such other documents and information as from time to time may be reasonably requested by Agent in relation
to any matters disclosed pursuant to this ‎Section 5.10.

 

(b)         Hazardous
Materials Activities, Etc. Holdings shall promptly take, and shall cause each of its Restricted Subsidiaries promptly to take,
any and all actions necessary to (i) cure any violation of applicable Environmental Laws by Holdings or its Restricted Subsidiaries,
and address with appropriate corrective or Remedial Action any Release or threatened Release of Hazardous Materials, in each case,
that would reasonably be expected to have a Material Adverse Effect and (ii) make an appropriate response to any Environmental
Claim against or Environmental Liability related to Holdings or any of its Restricted Subsidiaries and discharge any obligations
it may have to any Person thereunder, in each case, where failure to do so would reasonably be expected to have, individually or
in the aggregate, a Material Adverse Effect.

 

5.11       Designation
of Subsidiaries. Holdings may at any time after the Closing Date designate (or re-designate) any Subsidiary as an Unrestricted
Subsidiary or any Unrestricted Subsidiary as a Restricted Subsidiary; provided that (i) except to the extent such designation
(or re-designation) is made utilizing Section 6.6(x), the Payment Conditions have been satisfied, (ii) no Subsidiary may
be designated as an Unrestricted Subsidiary if it is a “Restricted Subsidiary” for purposes of the Term Loan Facility
Agreement, (iii) as of the date of designation thereof, no Unrestricted Subsidiary shall own any Capital Stock in any Restricted
Subsidiary of Holdings, and (iv) in the event that a Loan Party is designated as an Unrestricted Subsidiary (or re-designated from
a Restricted Subsidiary to an Unrestricted Subsidiary) then Borrowers shall have, prior to such designation or re-designation (as
the case may be), delivered to Agent an updated Borrowing Base Certificate that reflects the removal of the applicable assets from
the Borrowing Base. The designation of any subsidiary as an Unrestricted Subsidiary shall constitute an Investment by Holdings
therein at the date of designation in an amount equal to the portion of the fair market value of the net assets of such Restricted
Subsidiary attributable to Holdings’ equity interest therein (whether direct or indirect) as reasonably estimated by Holdings
(and such designation shall only be permitted to the extent such Investment is permitted under ‎Section 6.6). The designation
of any Unrestricted Subsidiary as a Restricted Subsidiary shall constitute the making, incurrence or granting as applicable, at
the time of designation of any then-existing Investment, Indebtedness or Lien of such Restricted Subsidiary, as applicable; provided
that upon any re-designation of any Unrestricted Subsidiary as a Restricted Subsidiary, Holdings shall be deemed to continue to
have an Investment in the resulting Restricted Subsidiary in an amount (if positive) equal to (a) Holdings’ “Investment”
in such subsidiary as calculated at the time re-designated as a Restricted Subsidiary, less (b) the portion of the fair
market value of the net assets of such Restricted Subsidiary attributable to the Holdings’ equity therein (whether direct
or indirect) as reasonably estimated by the Borrowers at the time of such re-designation.

 

5.12       Covenant
to Guarantee Obligations and Give Security.

 

(a)         Upon
(i) the formation or acquisition after the Closing Date of any Restricted Subsidiary that is a Domestic Subsidiary, (ii) the designation
of any Unrestricted Subsidiary that is a Domestic Subsidiary as a Restricted Subsidiary, (iii) any Restricted Subsidiary that is
a Domestic Subsidiary ceasing to be an Immaterial Subsidiary or (iv) any Restricted Subsidiary that was an Excluded Subsidiary
ceasing to be an Excluded Subsidiary, (x) if the event giving rise to the obligation under this ‎Section 5.12(a) occurs
during the first three Fiscal Quarters of any Fiscal Year, on or before the date on which financial statements are required to
be delivered pursuant to ‎Section 5.1(a) for the Fiscal Quarter in which the relevant formation, acquisition, designation
or cessation occurred (provided that if such date is less than sixty (60) days after the relevant formation, acquisition,
designation or cessation occurred, then the date in this clause (x) shall be deemed to be the date that is sixty (60) days
after the relevant formation, acquisition, designation or cessation occurred) or (y) if the event giving rise to the obligation
under this ‎Section 5.12(a) occurs during the fourth Fiscal Quarter of any Fiscal Year, on or before the date that is
60 days after the end of such Fiscal Quarter (or, in the cases of clauses (x) and (y), such longer period as Agent
may reasonably agree), Holdings shall (A) cause such Restricted Subsidiary (other than any Excluded Subsidiary) to comply with
the requirements set forth in the definition of “Collateral and Guarantee Requirement” and (B) upon the reasonable
request of Agent, cause the relevant Restricted Subsidiary to deliver to Agent a signed copy of a customary opinion of counsel
for such Restricted Subsidiary, addressed to Agent and the other relevant Lender.

 

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(b)         Notwithstanding
anything to the contrary herein or in any other Loan Document, it is understood that:

 

(i)          Agent
may grant extensions of time for the creation and perfection of security interests in, or obtaining of legal opinions or other
deliverables with respect to, particular assets or the provision of any Guaranty (as defined in the US Guaranty and Security Agreement)
by any Restricted Subsidiary (in connection with assets acquired, or Restricted Subsidiaries formed or acquired, after the Closing
Date), and each Lender hereby consents to any such extension of time,

 

(ii)         any
Lien required to be granted from time to time pursuant to the definition of “Collateral and Guarantee Requirement”
shall be subject to the exceptions and limitations set forth in the Security Documents,

 

(iii)        perfection
by control shall not be required with respect to assets requiring perfection through control agreements or other control arrangements,
including deposit accounts, Securities Accounts and commodities accounts (other than control of pledged Capital Stock (to the extent
certificated) and/or Material Debt Instruments and to the extent required by the Term Loan Facility Agreement and subject to the
Intercreditor Agreement),

 

(iv)        no
Loan Party will be required to (A) take any action outside of the U.S. or the United Kingdom in order to grant or perfect any security
interest in any asset located outside of the U.S. or the United Kingdom, (B) execute any foreign law security agreement, pledge
agreement, mortgage, deed or charge other than any English law Security Agreement or (C) make any foreign intellectual property
filing, conduct any foreign intellectual property search or prepare any foreign intellectual property schedule other than in the
UK;

 

(v)         in
no event will the Collateral include any Excluded Asset,

 

(vi)        no
action shall be required to perfect any Lien with respect to (1) any vehicle or other asset subject to a certificate of title (except
with respect to any such vehicle or asset that has a fair market value (as determined in good faith by the Administrative Borrower)
in excess of $150,000), (2) Letter-of-Credit Rights (except with respect to any Letter-of-Credit Rights with a value of greater
than or equal to $2,500,000), (3) the Capital Stock of any Immaterial Subsidiary and/or (4) the Capital Stock of any Person that
is not a subsidiary, which Person, if a subsidiary, would constitute an Immaterial Subsidiary, in each case except to the extent
that a security interest therein can be perfected by filing a Form UCC-1 (or similar) financing statement under the Code,

 

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(vii)       no
action shall be required to perfect a Lien in any asset in respect of which the perfection of a security interest therein would
(1) be prohibited by enforceable anti-assignment provisions set forth in any contract that is permitted or otherwise not prohibited
by the terms of this Agreement, (2) violate the terms of any contract relating to such asset that is permitted or otherwise not
prohibited by the terms of this Agreement or (3) trigger termination of any contract relating to such asset that is permitted or
otherwise not prohibited by the terms of this Agreement pursuant to any “change of control” or similar provision,

 

(viii)      no
Loan Party shall be required to perfect a security interest in any asset to the extent the perfection of a security interest in
such asset would (A) be prohibited under any applicable Requirement of Law and/or (B) result in material adverse tax consequences
to any Loan Party as reasonably determined by the Borrowers and specified in a written notice to the Agent,

 

(ix)         any
joinder or supplement to any Security Document and/or any other Loan Document executed by any Restricted Subsidiary that is required
to become a Loan Party pursuant to ‎Section 5.12(a) above may, with the consent of Agent (not to be unreasonably withheld
or delayed), include such schedules (or updates to schedules) as may be necessary to qualify any representation or warranty set
forth in any Loan Document to the extent necessary to ensure that such representation or warranty is true and correct to the extent
required thereby or by the terms of any other Loan Document, and

 

(x)          Agent
shall not require the taking of a Lien on, or require the perfection of any Lien granted in, those assets as to which the cost
of obtaining or perfecting such Lien (including any mortgage, stamp, intangibles or other tax or expenses relating to such Lien)
is excessive in relation to the benefit to the Lenders of the security afforded thereby as reasonably determined by the Borrowers
and the Agent.

 

5.13       [Reserved.]

 

5.14       Further
Assurances. Promptly upon request of Agent and subject to the limitations described in ‎Section 5.12:

 

(a)          Holdings,
Intermediate Holdings, CP Holdings LLC, and the Borrowers will, and will cause each other Loan Party to, execute any and all further
documents, financing statements, agreements, instruments, certificates, notices and acknowledgments and take all such further actions
(including the filing and recordation of financing statements, fixture filings and/or amendments thereto and other documents),
that may be required under any applicable Requirements of Law and which Agent may reasonably request to cause to ensure the creation,
perfection and priority of the Liens created or intended to be created under the Security Documents, all at the expense of the
relevant Loan Parties.

 

(b)          Holdings,
Intermediate Holdings, CP Holdings LLC, and the Borrowers will, and will cause each other Loan Party to, promptly (i) correct any
material defect or error that may be discovered in the execution, acknowledgment, filing or recordation of any Security Document
or other document or instrument relating to any Collateral and (ii) do, execute, acknowledge, deliver, record, re-record, file,
re-file, register and re-register any and all such further acts, deeds, certificates, assurances and other instruments, in each
case under this clause ‎(b), as Agent may reasonably request from time to time to create, perfect and maintain the priority
of the security interests intended to be granted under the relevant Security Documents.

 

5.15       [Reserved].

 

5.16       [Reserved].

 

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5.17       Location
of Inventory, Equipment and Rolling Stock. Holdings, Intermediate Holdings, CP Holdings LLC, and each Borrower will, and
will cause each of its Subsidiaries to, keep its Inventory, Equipment and Rolling Stock only at the locations identified on Schedule
4.25 (other than (i) with respect to Rolling Stock (and Equipment related thereto) in “over the road use”, out
for repair or out on assignment, in each case, in the ordinary course of business and (ii) leased locations at which the value
of the Inventory, Equipment and Rolling Stock of Holdings and its Subsidiaries located thereon is less than $500,000 in the aggregate)
and their chief executive offices only at the locations identified on Schedule 5.17.

 

5.18       Bank
Products. The US Loan Parties shall maintain their primary depository and treasury management relationships (excluding,
for the avoidance of doubt, any Hedge Agreements and card programs (including credit cards, stored value cards, and purchasing
card programs)) with Wells Fargo or one or more of its Affiliates (provided such depository and treasury management products
are offered on commercially reasonable terms) at all times during the term of this Agreement.

 

5.19       OFAC;
Sanctions; Anti-Corruption Laws; Anti-Money Laundering Laws; Beneficial Ownership Regulation. Each Loan Party will, and
will cause each of its Subsidiaries to comply with all applicable Sanctions, Anti-Corruption Laws and Anti-Money Laundering Laws.
Each of the Loan Parties and its Subsidiaries shall implement and maintain in effect policies and procedures designed to ensure
compliance by the Loan Parties and their Subsidiaries and their respective directors, officers, employees, agents and Affiliates
with all Sanctions, Anti-Corruption Laws and Anti-Money Laundering Laws. Each of the Loan Parties shall and shall cause their respective
Subsidiaries to comply with all Sanctions, Anti-Corruption Laws and Anti-Money Laundering Laws. Each Loan Party will, and will
cause each of its Subsidiaries to, notify Agent and each Lender that previously received a Beneficial Ownership Certification of
any change in the information provided in the Beneficial Ownership Certification that would result in a change to the list of beneficial
owners identified therein and, promptly upon the reasonable request of Agent or any Lender, provide Agent or such Lender, as the
case may be, any information or documentation requested by it for purposes of complying with the Beneficial Ownership Regulation.

 

5.20       Rolling
Stock.

 

(a)         Holdings,
Intermediate Holdings, CP Holdings LLC, and each Borrower will, and will cause each of its Subsidiaries to, at all times maintain
records with respect to Rolling Stock Collateral reasonably satisfactory to Agent, keeping correct, detailed and accurate records
describing the Rolling Stock Collateral, the quality and repair records with respect thereto, and such Loan Party’s or Subsidiaries’
cost therefor.

 

(b)         Subject
to the terms of the Intercreditor Agreement, unless and until Agent may direct otherwise, (i) any manufacturers’ statements
of origin or manufacturers’ certificates of origin and other certificates, statements, bills of sale or other evidence of
the transfer to or ownership of any Loan Party of any of the Rolling Stock Collateral, and (ii) if applicable, any Certificates
of Title at any time issued under the laws of any State or other jurisdiction with respect to any of the Rolling Stock Collateral
that is located in the United States, in each case, shall be held only at the locations set forth in the Rolling Stock Custodian
Agreements or as otherwise permitted by Agent in its sole discretion. In addition, and not in limitation of the rights of Agent
hereunder or under the Rolling Stock Custodian Agreements, promptly upon Agent’s request, Agent may require that Rolling
Stock Collateral Custodian deliver any or all of such items subject to the terms of the Rolling Stock Custodian Agreements to Agent
or to such third party as Agent may specify.

 

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5.21       People
with Significant Control Regime. Each UK Borrower shall:

 

(a)   
      within the relevant timeframe, comply with any notice it receives pursuant to Part 21A of
the Companies Act 2006 (UK) from any company incorporated in the United Kingdom whose shares are the subject of any UK
Security Document; and

 

(b)     
    promptly provide UK Security Agent with a copy of that notice.

 

5.22       Collateral
Access Agreements. Subject to Section 3.6, the Loan Parties shall use commercially reasonable efforts to deliver
a Collateral Access Agreement to Agent with respect to any parcel of Real Property owned or leased by any Loan Party where Collateral
in excess of $500,000 of fair market value is located to the extent reasonably requested by Agent from time to time.

 

5.23       Depreciation
Policy.

 

(a)          The
UK Administrative Borrower shall notify Agent in writing 15 Business Days before any UK Borrower amends, supplements or replaces
its Depreciation Policy.

 

(b)          On
receipt of any notice in accordance with Section 5.20(a) above, Agent and the UK Borrowers shall recalculate the net book
value of Eligible Rolling Stock Collateral taking into account the new Depreciation Policy and the UK Administrative Borrower shall,
on request by Agent, supply an valuation in order to make such recalculation.

 

6.           NEGATIVE
COVENANTS.

 

From the Closing Date
and until the Termination Date has occurred, each of Holdings (solely with respect to ‎Section 6.11 and ‎6.13(i)),
Intermediate Holdings (solely with respect to ‎Section 6.11 and ‎6.13(i)), CP Holdings LLC (solely with respect
to ‎Section 6.11 and ‎6.13(i)), and the Borrowers covenant and agree with the Lenders that:

 

6.1         Indebtedness.
The Borrowers shall not, nor shall it permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, assume
or otherwise become or remain liable with respect to any Indebtedness, except:

 

(a)          the
Obligations;

 

(b)          Indebtedness
of the Borrowers owed to any Restricted Subsidiary and/or of any Restricted Subsidiary or the Borrowers owed to Holdings, Intermediate
Holdings, CP Holdings LLC, and/or any other Restricted Subsidiary; provided that in the case of any Indebtedness of any
Restricted Subsidiary that is not a Loan Party owing to the Borrowers or any Subsidiary Guarantor, such Indebtedness shall be permitted
as an Investment under ‎Section 6.6; provided, further, that any Indebtedness of any Loan Party owing
to any Restricted Subsidiary that is not a Loan Party must be expressly subordinated to the Obligations of such Loan Party pursuant
to the Intercompany Subordination Agreement or on terms that are otherwise reasonably acceptable to Agent;

 

(c)          unsecured
Indebtedness arising from any agreement providing for indemnification, adjustment of purchase price or similar obligations (including
seller notes and contingent earn-out obligations) incurred in connection with any Permitted Acquisition or other Permitted Investments,
in each case subject to satisfaction of the Payment Conditions;

 

(d)          Indebtedness
of Holdings, Intermediate Holdings, CP Holdings LLC, and/or any Restricted Subsidiary (i) pursuant to tenders, statutory obligations,
bids, leases, governmental contracts, trade contracts, surety, stay, customs, appeal, performance and/or return of money bonds
or other similar obligations incurred in the ordinary course of business and (ii) in respect of any letters of credit, bank guaranties,
surety bonds, performance bonds or similar instruments to support any of the foregoing items;

 

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(e)          Indebtedness
of the Borrowers and/or any Restricted Subsidiary in respect of commercial credit cards, stored value cards, purchasing cards,
treasury management services, netting services, overdraft protections, check drawing services, automated payment services (including
depository, overdraft, controlled disbursement, ACH transactions, return items and interstate depository network services), employee
credit card programs, cash pooling services and any arrangements or services similar to any of the foregoing and/or otherwise in
connection with cash management and Deposit Accounts, including Bank Product Obligations and incentive, supplier finance or similar
programs;

 

(f)          (i)
Guarantees by the Borrowers or any of its Restricted Subsidiaries of the obligations of suppliers, customers and licensees in the
ordinary course of business, (ii) Indebtedness incurred in the ordinary course of business in respect of obligations of the Borrowers
and/or any Restricted Subsidiary to pay the deferred purchase price of goods or services or progress payments in connection with
such goods and services and (iii) Indebtedness in respect of letters of credit, bankers’ acceptances, bank guaranties or
similar instruments supporting trade payables, warehouse receipts or similar facilities entered into in the ordinary course of
business;

 

(g)          Guarantees
by the Borrowers and/or any Restricted Subsidiary of Indebtedness or other obligations of Holdings, Intermediate Holdings, CP Holdings
LLC, or any Restricted Subsidiary with respect to Indebtedness otherwise permitted to be incurred pursuant to this ‎Section
6.1 or other obligations not prohibited by this Agreement; provided that in the case of any Guarantee by any Loan Party
of the obligations of any non-Loan Party, the related Investment is permitted under ‎Section 6.6;

 

(h)          Indebtedness
of the Borrowers and/or any Restricted Subsidiary existing, or pursuant to commitments existing, on the Closing Date and described
on Schedule 6.1 and intercompany Indebtedness outstanding on the Closing Date;

 

(i)           Indebtedness
of Restricted Subsidiaries that are not Loan Parties; provided that the aggregate principal amount at any time outstanding
of such Indebtedness shall not exceed the Non-Loan Party Cap;

 

(j)           Indebtedness
of the Borrowers and/or any Restricted Subsidiary with respect to Capital Leases and purchase money Indebtedness incurred prior
to or within 270 days of the acquisition, lease, completion of construction, repair of, replacement, improvement to or installation
of the assets acquired, leased, constructed, repaired, replaced, improved or installed in connection with the incurrence of such
Indebtedness in an aggregate outstanding principal amount not to exceed (A) with respect to such Indebtedness incurred within the
United Kingdom under this clause (j) and clause (w) below, the greater of $2,000,000 and two and one-half percent
(2.5%) of Consolidated Adjusted EBITDA for the most recently ended Test Period in the aggregate and (B) with respect to such Indebtedness
incurred in jurisdictions other than the United Kingdom under this clause (j) and clause (w) below, the greater of
$10,000,000 and ten percent (10%) of Consolidated Adjusted EBITDA for the most recently ended Test Period in the aggregate;

 

    	 	65	 

     

    

 

(k)         Indebtedness
of any Person that becomes a Restricted Subsidiary or Indebtedness assumed in connection with a Permitted Acquisition or other
Permitted Investments; provided that (i) such Indebtedness (1) existed at the time such Person became a Restricted Subsidiary
or the assets subject to such Indebtedness were acquired and (2) was not created or incurred in anticipation thereof, (ii) no Event
of Default exists or would result from such acquisition or investment, (iii) after giving effect to the assumption thereof, the
outstanding principal amount of Non-Loan Party Indebtedness does not exceed the Non-Loan Party Cap, (iv) after giving effect to
the assumption thereof, (1) if such Indebtedness is secured by a Lien on the Collateral that is pari passu with the Lien on the
Collateral securing the “Secured Obligations” (as defined in the Term Loan Facility Agreement), the First Lien Leverage
Ratio does not exceed 3.50:1.00, (2) if such Indebtedness is secured by a Lien on the Collateral that is junior to the Lien on
the Collateral securing the “Secured Obligations” (as defined in the Term Loan Facility Agreement), the Secured Leverage
Ratio does not exceed 3.75:1.00 and (3) if such Indebtedness is unsecured, the Total Leverage Ratio does not exceed 4.20:1.00;
and (v) if such Indebtedness is secured by all or any portion of the Collateral, such Indebtedness shall be subject to an Acceptable
Intercreditor Agreement, and such Acceptable Intercreditor Agreement provides that the Liens on the ABL Priority Collateral and
the UK Collateral securing such Indebtedness shall rank junior in priority to the Liens on the ABL Priority Collateral and the
UK Collateral securing the Obligations;

 

(l)          Indebtedness
consisting of promissory notes issued by the Borrowers or any Restricted Subsidiary to any stockholder of any Parent Company or
any current or former director, officer, employee, member of management, manager or consultant of any Parent Company, the Borrowers
or any subsidiary (or their respective Immediate Family Members) to finance the purchase or redemption of Capital Stock of any
Parent Company permitted by ‎Section 6.4(a);

 

(m)        The
Borrowers and any of their Restricted Subsidiaries may become and remain liable for any Indebtedness refinancing, refunding or
replacing any Indebtedness permitted under this clause ‎(m) and clauses ‎(a), (c), ‎(h),
‎(i), ‎(j), ‎(k), ‎(n), ‎(p), ‎(r) and (w) of this ‎Section
6.1 (in any case, including any refinancing Indebtedness incurred in respect thereof, “Refinancing Indebtedness”)
and any subsequent Refinancing Indebtedness in respect thereof; provided that any refinancing, refunding or replacement
of Indebtedness permitted under ‎Section 6.1(c), ‎(i), ‎(j), ‎(n), ‎(r)
or (w) shall continue to constitute utilization of the applicable basket; provided further that:

 

(i)          the
principal amount of such Indebtedness does not exceed the principal amount of the Indebtedness being refinanced, refunded or replaced,
except by (A) an amount equal to unpaid accrued interest and premiums (including tender premiums) thereon plus underwriting discounts,
other reasonable and customary fees, commissions and expenses (including upfront fees, original issue discount or initial yield
payments) incurred in connection with the relevant refinancing, refunding or replacement and (B) additional amounts permitted to
be incurred pursuant to this ‎Section 6.1 (so long as such Indebtedness is permitted to be incurred pursuant to a subsection
of this ‎Section 6.1, other than this ‎Section 6.1(m), and, to the extent secured by Liens, such Liens are
permitted to secure such Indebtedness pursuant to a subsection of ‎Section 6.2, other than ‎Section 6.2(k)
and is deemed to constitute a utilization of the relevant basket or exception pursuant to which such additional amount is permitted),

 

(ii)         other
than in the case of Refinancing Indebtedness with respect to clauses ‎(h), ‎(j), ‎(k), and/or
‎(o) of this ‎Section 6.1 (A) such Indebtedness has a final maturity equal to or later than (and, in the
case of revolving Indebtedness, does not require mandatory commitment reductions, if any, prior to) the final maturity of the Indebtedness
being refinanced, refunded or replaced and (B) other than with respect to revolving Indebtedness, a Weighted Average Life to Maturity
equal to or greater than the Weighted Average Life to Maturity of the Indebtedness being refinanced, refunded or replaced,

 

(iii)        the
terms of any Refinancing Indebtedness (excluding pricing, fees, premiums, rate floors, optional prepayment or redemption terms
(and, if applicable, subordination terms) and, with respect to Refinancing Indebtedness incurred in respect of Indebtedness permitted
under clause ‎(a) above, security), are not, taken as a whole (as reasonably determined by Holdings), more favorable
to the lenders providing such Indebtedness than those applicable to the Indebtedness being refinanced, refunded or replaced (other
than any covenants or any other provisions applicable only to periods after the Latest Maturity Date as of such date or any covenants
or provisions which are then-current market terms for the applicable type of Indebtedness),

 

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(iv)        except
in the case of Refinancing Indebtedness incurred in respect of Indebtedness permitted under clause ‎(a) of this ‎Section
6.1, (A) such Indebtedness, if secured, is secured only by Permitted Liens at the time of such refinancing, refunding or replacement
(it being understood that such secured Indebtedness may go from being secured to being unsecured), (B) such Indebtedness is incurred
by the obligor or obligors in respect of the Indebtedness being refinanced, refunded or replaced, except to the extent otherwise
permitted pursuant to Sections ‎6.1, ‎6.2 and ‎6.6 and (C) if the Indebtedness being refinanced,
refunded or replaced was originally contractually subordinated to the Obligations in right of payment (or the Liens securing such
Indebtedness were originally contractually subordinated to the Liens on the Collateral securing the Obligations), such Indebtedness
is contractually subordinated to the Obligations in right of payment (or the Liens securing such Indebtedness are subordinated
to the Liens on the Collateral securing the Revolving Loans) on terms not materially less favorable (as reasonably determined by
the Borrower), taken as a whole, to the Lenders than those applicable to the Indebtedness (or Liens, as applicable) being refinanced,
refunded or replaced, taken as a whole,

 

(v)         in
the case of Refinancing Indebtedness incurred in respect of Indebtedness permitted under clause ‎(a) of this ‎Section
6.1, (A) such Indebtedness is pari passu or junior in right of payment and secured by the Collateral on a pari passu or junior
basis with respect to the remaining Obligations hereunder, or is unsecured; provided that any such Indebtedness that is
pari passu or junior with respect to the Collateral shall be subject to an Acceptable Intercreditor Agreement, and such Acceptable
Intercreditor Agreement shall provide that the Liens on the ABL Priority Collateral and the UK Collateral securing such Indebtedness
shall rank junior in priority to the Liens on the ABL Priority Collateral and UK Collateral securing the Obligations, (B) if the
Indebtedness being refinanced, refunded or replaced is secured, it is not secured by any assets other than the Collateral, (C)
if the Indebtedness being refinanced, refunded or replaced is Guaranteed, it shall not be Guaranteed by any Person other than one
or more Loan Parties and (D) such Indebtedness is incurred under (and pursuant to) documentation other than this Agreement; it
being understood and agreed that any such Indebtedness may not participate on a greater than pro rata basis in any mandatory prepayment
in respect of Revolving Loans; and

 

(vi)        intercompany
Indebtedness under ‎Section 6.1(h) may only be refinanced, refunded or replaced with other intercompany Indebtedness;

 

(n)         Indebtedness
of the Borrowers and/or any Restricted Subsidiary in an aggregate outstanding principal amount not to exceed $15,000,000;

 

(o)         to
the extent constituting Indebtedness, obligations arising under the Concrete Pumping Acquisition Agreement;

 

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(p)         additional
Indebtedness of the Borrowers and/or any Restricted Subsidiary so long as (i) no Event of Default has occurred and is continuing
or would result therefrom and (ii) after giving effect thereto, including the application of the proceeds thereof (but without
“netting” cash proceeds of the applicable Indebtedness), (ii) (1) if such Indebtedness is secured by a Lien on the
Collateral that is pari passu with the Lien on the Collateral securing the “Secured Obligations” (as defined in the
Term Loan Facility Agreement), the First Lien Leverage Ratio does not exceed 3.50:1.00, (3) if such Indebtedness is secured by
a Lien on the Collateral that is junior to the Lien on the Collateral securing the “Secured Obligations” (as defined
in the Term Loan Facility Agreement), the Secured Leverage Ratio does not exceed 3.75:1.00, (4) if such Indebtedness is unsecured,
the Total Leverage Ratio does not exceed 4.20:1.00, and (5) if such Indebtedness is secured by all or any portion of the Collateral,
such Indebtedness shall be subject to an Acceptable Intercreditor Agreement, providing that the Liens on the ABL Priority Collateral
and UK Collateral securing such Indebtedness shall rank junior in priority to the Liens on the ABL Priority Collateral and UK Collateral
securing the Obligations, (iii) any such Indebtedness that is subordinated to the Obligations in right of payment or collateral
shall be subject to an Acceptable Intercreditor Agreement, (iv) the Weighted Average Life to Maturity applicable to such Indebtedness
(other than customary bridge loans with a maturity date of no longer than one year; provided that any Indebtedness exchanged
for such bridge loans shall be subject to the requirements of this clause ‎(iv)) is no shorter than the Weighted Average
Life to Maturity of the then-existing Term Loans (as defined in the Term Loan Facility Agreement), (v) the final maturity date
with respect to such Indebtedness (other than customary bridge loans with a maturity date of no longer than one year; provided
that any Indebtedness exchanged for such bridge loans shall be subject to the requirements of this clause ‎(v)) is no
earlier than the Maturity Date on the date of the issuance or incurrence, as applicable, thereof and (vi) in the case of any such
Indebtedness in the form of term loans (other than customary bridge loans) that are pari passu with the Revolving Loans in right
of payment and with respect to security, the Effective Yield applicable thereto will not be more than 0.50% per annum higher than
the Effective Yield in respect of the Revolving Loans unless the Effective Yield with respect to the Revolving Loans is adjusted
to be equal to the Effective Yield applicable to such Indebtedness, minus 0.50% per annum; provided, however,
that the aggregate outstanding principal amount of Non-Loan Party Indebtedness shall not, at any time, exceed the Non-Loan Party
Cap;

 

(q)         (i)
Indebtedness of the Borrowers and/or any Restricted Subsidiary incurred in respect of the Term Loan Facility Agreement in an aggregate
outstanding principal or committed amount that does not exceed $357,000,000 plus the aggregate amount of any “Incremental
Facility” and “Incremental Equivalent Debt” (each as defined in the Term Loan Facility Agreement as in effect
on the date hereof) made or effected in accordance with the terms thereof plus any accrued interest, penalties, premiums,
expenses and indemnification obligations under the Term Loan Facility, or any “Incremental Facility” and “Incremental
Equivalent Debt” (each as defined in the Term Loan Facility Agreement as in effect on the date hereof) made or effected in
accordance with the terms thereof, and (ii) any Guarantee of any Indebtedness by Holdings, Intermediate Holdings, CP Holdings LLC,
the Borrowers and/or any Restricted Subsidiary and any permitted refinancing of any Indebtedness incurred pursuant to clause
(i) above to the extent such refinancing is permitted by the Term Loan Facility Agreement;

 

(r)          Incremental
Equivalent Debt;

 

(s)          Indebtedness
(including obligations in respect of letters of credit, bank guaranties, surety bonds, performance bonds or similar instruments
with respect to such Indebtedness) incurred by the Borrowers and/or any Restricted Subsidiary in respect of workers’ compensation
claims, unemployment insurance (including premiums related thereto), other types of social security, pension obligations, vacation
pay, health, disability or other employee benefits;

 

(t)          Indebtedness
of the Borrowers and/or any Restricted Subsidiary representing (i) deferred compensation to current or former directors, officers,
employees, members of management, managers, and consultants of Holdings, Intermediate Holdings, CP Holdings LLC, the Borrowers
and/or any Restricted Subsidiary in the ordinary course of business and (ii) deferred compensation or other similar arrangements
in connection with the Transactions, any Permitted Acquisition or any other Investment permitted hereby;

 

(u)         Indebtedness
of the Borrowers and/or any Restricted Subsidiary to the extent supported by any Letter of Credit;

 

    	 	68	 

     

    

 

(v)         Indebtedness
under Derivative Transactions that are not entered into for speculative purposes;

 

(w)        Capitalized
Lease Obligations arising under any Sale and Lease-Back Transaction permitted under Section 6.7(x); provided, that
at the time of incurrence of any such Indebtedness and after giving pro forma effect thereto and the use of proceeds thereof the
aggregate outstanding principal amount then outstanding under this clause (w) and clause (j) above shall not exceed
(A) with respect to such Indebtedness incurred within the United Kingdom under this clause (w) and clause (j) above,
the greater of $2,000,000 and two and one-half percent (2.5%) of Consolidated Adjusted EBITDA for the most recently ended Test
Period in the aggregate and (b) with respect to such Indebtedness incurred in jurisdictions other than the United Kingdom under
this clause (w) and clause (j) above, the greater of $10,000,000 and ten percent (10%) of Consolidated Adjusted EBITDA
for the most recently ended Test Period in the aggregate;

 

(x)          without
duplication of any other Indebtedness, all premiums (if any), interest (including post-petition interest and payment in kind interest),
accretion or amortization of original issue discount, fees, expenses and charges with respect to Indebtedness of the Borrowers
and/or any Restricted Subsidiary permitted under this ‎Section 6.1; and

 

(y)         unsecured
Indebtedness of the Borrowers and/or any Restricted Subsidiary subject to satisfaction of the Payment Conditions; provided,
that (x) the Weighted Average Life to Maturity applicable to such Indebtedness (other than customary bridge loans with a maturity
date of no longer than one year; provided that any Indebtedness exchanged for such bridge loans shall be subject to the
requirements of this clause ‎(x)) is no shorter than the Weighted Average Life to Maturity of the then-existing Term
Loans (as defined in the Term Loan Facility Agreement), (y) the final maturity date with respect to such Indebtedness (other than
customary bridge loans with a maturity date of no longer than one year; provided that any Indebtedness exchanged for such bridge
loans shall be subject to the requirements of this clause (y)) is no earlier than the Latest Term Loan Maturity Date on
the date of the issuance or incurrence, as applicable, thereof, and (z) the terms of such Indebtedness do not provide for any mandatory
prepayments (other than scheduled principal and interest payments) prior to the Latest Term Loan Maturity Date.

 

6.2         Liens.
The Borrowers shall not, nor shall it permit any of its Restricted Subsidiaries to, create, incur, assume or permit or suffer to
exist any Lien on or with respect to any property of any kind owned by it, whether now owned or hereafter acquired, or any income
or profits therefrom, except:

 

(a)         Liens
securing the Obligations created pursuant to the Loan Documents;

 

(b)         Liens
for Taxes which are (i) not then due or (ii) if due, not then required to be paid pursuant to Section 5.4;

 

(c)         statutory
Liens (and rights of set-off) of landlords, banks, carriers, warehousemen, mechanics, repairmen, workmen and materialmen, and other
Liens imposed by applicable Requirements of Law, in each case incurred in the ordinary course of business (i) for amounts not yet
overdue by more than 30 days, (ii) for amounts that are overdue by more than 30 days and that are being contested in good faith
by appropriate proceedings, so long as any reserves or other appropriate provisions required by GAAP have been made for any such
contested amounts or (iii) with respect to which the failure to make payment would not reasonably be expected to have a Material
Adverse Effect;

 

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(d)         Liens
incurred (i) in the ordinary course of business in connection with workers’ compensation, unemployment insurance and other
types of social security laws and regulations, (ii) in the ordinary course of business to secure the performance of tenders, statutory
obligations, surety, stay, customs and appeal bonds, bids, leases, government contracts, trade contracts, performance and return-of-money
bonds and other similar obligations (exclusive of obligations for the payment of borrowed money), (iii) pursuant to pledges and
deposits of cash or Cash Equivalents in the ordinary course of business securing (x) any liability for reimbursement or indemnification
obligations of insurance carriers providing property, casualty, liability or other insurance to Holdings, Intermediate Holdings,
CP Holdings LLC, the Borrowers and their subsidiaries or (y) leases or licenses of property otherwise permitted by this Agreement
and (iv) to secure obligations in respect of letters of credit, bank guaranties, surety bonds, performance bonds or similar instruments
posted with respect to the items described in clauses ‎(i) through ‎(iii) above;

 

(e)         Liens
consisting of easements, rights-of-way, restrictions, encroachments, and other minor defects or irregularities in title, in each
case which do not, individually or in the aggregate, materially detract from the value of the property subject thereto or materially
interfere with the ordinary conduct of the business of the Borrowers and their Restricted Subsidiaries, taken as a whole, or the
use of the affected property for its intended purpose;

 

(f)          Liens
consisting of any (i) interest or title of a lessor or sub-lessor under any lease of real estate permitted hereunder, (ii) landlord
lien permitted by the terms of any lease, (iii) restriction or encumbrance to which the interest or title of such lessor or sub-lessor
may be subject or (iv) subordination of the interest of the lessee or sub-lessee under such lease to any restriction or encumbrance
referred to in the preceding clause ‎(iii);

 

(g)         Liens
solely on any cash earnest money deposits made by Holdings and/or any of its Restricted Subsidiaries in connection with any letter
of intent or purchase agreement with respect to any Investment permitted hereunder;

 

(h)         purported
Liens evidenced by the filing of Uniform Commercial Code financing statements or similar filings relating solely to operating leases;

 

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

 

(j)           Liens
in connection with any zoning, building or similar Requirement of Law or right reserved to or vested in any Governmental Authority
to control or regulate the use of any or dimensions of real property or the structure thereon, including Liens in connection with
any condemnation or eminent domain proceeding or compulsory purchase order;

 

(k)          Liens
securing Indebtedness permitted pursuant to ‎Section 6.1(m) (solely with respect to the permitted refinancing of (x)
Indebtedness permitted pursuant to Sections ‎6.1(a), (j), ‎(k), and ‎(r) and (y)
Indebtedness that is secured in reliance on ‎Section 6.2(s) (without duplication of any amount outstanding thereunder,
and which shall continue to constitute utilization of the basket set forth therein)); provided that (i) no such Lien extends
to any asset not covered by the Lien securing the Indebtedness that is being refinanced and (ii) if the Lien securing the Indebtedness
being refinanced was subject to intercreditor arrangements, then (A) the Lien securing any refinancing Indebtedness in respect
thereof shall be subject to intercreditor arrangements that are not materially less favorable to the Secured Parties, taken as
a whole, than the intercreditor arrangements governing the Lien securing the Indebtedness that is refinanced or (B) the intercreditor
arrangements governing the Lien securing the relevant refinancing Indebtedness shall be set forth in an Acceptable Intercreditor
Agreement;

 

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(l)           Liens
described on Schedule 6.2 and any modification, replacement, refinancing, renewal or extension thereof; provided
that (i) no such Lien extends to any additional property other than (A) after-acquired property that is affixed or incorporated
into the property covered by such Lien and (B) proceeds and products thereof, accessions thereto and improvements thereon (it being
understood that individual financings of the type permitted under ‎Section 6.1(j) provided by any lender may be cross-collateralized
to other financings of such type provided by such lender or its affiliates) and (ii) such modification, replacement, refinancing,
renewal or extension of the obligations secured or benefited by such Liens, if constituting Indebtedness, is permitted by ‎Section
6.1;

 

(m)         Liens
securing Indebtedness permitted pursuant to ‎Section 6.1(j); provided that any such Lien shall encumber only
the asset acquired with the proceeds of such Indebtedness and proceeds and products thereof, accessions thereto and improvements
thereon (it being understood that individual financings of the type permitted under ‎Section 6.1(j) provided by any
lender may be cross-collateralized to other financings of such type provided by such lender or its affiliates);

 

(n)         Liens
securing Indebtedness permitted pursuant to ‎Section 6.1(k) on the relevant acquired assets or on the Capital Stock
and assets of the relevant newly acquired Restricted Subsidiary; provided that no such Lien (x) extends to or covers any
other assets (other than the proceeds or products thereof, accessions or additions thereto and improvements thereon) or (y) was
created in contemplation of the applicable acquisition of assets or Capital Stock;

 

(o)         (i)
Liens that are contractual rights of setoff or netting relating to (A) the establishment of depositary relations with banks not
granted in connection with the issuance of Indebtedness, (B) pooled deposit or sweep accounts of the Borrowers and/or any Restricted
Subsidiary to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business of the Borrowers
and/or any Restricted Subsidiary, (C) purchase orders and other agreements entered into with customers of the Borrowers and/or
any Restricted Subsidiary in the ordinary course of business and (D) commodity trading or other brokerage accounts incurred in
the ordinary course of business other than, in each such case, any UK Blocked Account, (ii) Liens encumbering reasonable customary
initial deposits and margin deposits, (iii) bankers Liens and rights and remedies as to Deposit Accounts other than in respect
of any UK Blocked Account and (iv) Liens on the proceeds of any Indebtedness incurred in connection with any transaction permitted
hereunder, which proceeds have been deposited into an escrow account on customary terms to secure such Indebtedness pending the
application of such proceeds to finance such transaction;

 

(p)         Liens
securing obligations (other than obligations representing Indebtedness for borrowed money) under operating, reciprocal easement
or similar agreements entered into in the ordinary course of business of the Borrowers and/or its Restricted Subsidiaries;

 

(q)         Liens
on fixed or capital assets subject to any Sale and Lease-back Transaction permitted under Section 6.7(x); provided that
(i) such Liens secure only Indebtedness permitted by Section 6.1(w) and obligations relating thereto not constituting Indebtedness
and (ii) such Lien shall encumber only the asset acquired with the proceeds of such Indebtedness and proceeds and products thereof,
accessions thereto and improvements thereon (it being understood that individual financings of the type permitted under Section
6.1(w) provided by any lender may be cross-collateralized to other financings of such type provided by such lender or its affiliates);

 

(r)          Liens
securing Indebtedness incurred pursuant to Sections ‎6.1(q) and ‎(r), in each case, subject to an Acceptable
Intercreditor Agreement, and such Acceptable Intercreditor Agreement shall provide that the Liens on the ABL Priority Collateral
and the UK Collateral securing such Indebtedness shall rank junior in priority to the Liens on the ABL Priority Collateral and
UK Collateral securing the Obligations;

 

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(s)         other
Liens on assets securing Indebtedness or other obligations in an aggregate principal amount at any time outstanding not to exceed
$15,000,000; provided that any such Liens on ABL Priority Collateral and UK Collateral are junior to the Agent’s and
UK Security Agent’s Liens on the ABL Priority Collateral and UK Collateral and are subject to an Acceptable Intercreditor
Agreement;

 

(t)          Liens
on assets securing judgments, awards, attachments and/or decrees and notices of lis pendens and associated rights not constituting
an Event of Default under ‎Section 8.1(h);

 

(u)         leases,
subleases, licenses or sublicenses granted to others in the ordinary course of business which do not secure any Indebtedness;

 

(v)         Liens
on securities that are the subject of repurchase agreements constituting Investments permitted under ‎Section 6.6 arising
out of such repurchase transaction;

 

(w)        Liens
securing obligations in respect letters of credit, bank guaranties, surety bonds, performance bonds or similar instruments permitted
under Sections ‎6.1(d), ‎(f), and ‎(s);

 

(x)          Liens
arising (i) out of conditional sale, title retention, consignment or similar arrangements for the sale of any asset in the ordinary
course of business and permitted by this Agreement or (ii) by operation of law under Article 2 of the Code (or similar Requirements
of Law of any jurisdiction);

 

(y)         Liens
(i) in favor of any Loan Party and/or (ii) granted by any non-Loan Party in favor of any Restricted Subsidiary that is not a Loan
Party, in the case of each of clauses ‎(i) and ‎(ii), securing intercompany Indebtedness permitted under
‎Section 6.1;

 

(z)          Liens
on insurance policies and the proceeds thereof securing the financing of the premiums with respect thereto;

 

(aa)       Liens
on specific items of inventory or other goods and the proceeds thereof securing the relevant Person’s obligations in respect
of documentary letters of credit or banker’s acceptances issued or created for the account of such Person to facilitate the
purchase, shipment or storage of such inventory or goods;

 

(bb)       [reserved];

 

(cc)       (i)
Liens on Capital Stock of joint ventures or Unrestricted Subsidiaries securing capital contributions to, or obligations of, such
Persons and (ii) customary rights of first refusal and tag, drag and similar rights in joint venture agreements and agreements
with respect to non-Wholly-Owned Subsidiaries;

 

(dd)       Liens
on cash, Cash Equivalents or other property arising in connection with the defeasance, discharge or redemption of Indebtedness;
and

 

(ee)       Liens
securing Indebtedness incurred in reliance on, and subject to the provisions set forth in, ‎Section 6.1(p) and Section
6.1(q); provided, that any Lien that is granted in reliance on this clause ‎(ee) on the Collateral and is
pari passu or junior to the Lien securing the “Secured Obligations” (as defined in the Term Loan Facility Agreement)
shall be subject to an Acceptable Intercreditor Agreement and shall not be pari passu to the Lien on ABL Priority Collateral and
UK Collateral securing the Obligations.

 

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6.3         No
Further Negative Pledges; Burdensome Agreements. The Borrowers shall not, nor shall they permit any of their Restricted
Subsidiaries to enter into any agreement prohibiting the creation or assumption of any Lien upon its properties, whether now owned
or hereafter acquired, for the benefit of the Secured Parties with respect to the Obligations, except with respect to:

 

(a)         specific
property to be sold pursuant to any Disposition permitted by ‎Section 6.7;

 

(b)         restrictions
contained in any agreement with respect to Indebtedness permitted by ‎Section 6.1 that is secured by a Permitted Lien,
but only if such restrictions apply only to the Person or Persons obligated under such Indebtedness and its or their Restricted
Subsidiaries or the property or assets securing such Indebtedness;

 

(c)          restrictions
contained in the documentation governing Indebtedness permitted by clauses ‎(j), ‎(n), ‎(p), ‎(q),
‎(r) and/or (w) of ‎Section 6.1 (and clause ‎(m) of ‎Section 6.1 to the extent
relating to any refinancing, refunding or replacement of Indebtedness incurred in reliance on clauses ‎(a), ‎(j),
‎(n), ‎(p), ‎(q), ‎(r) and/or (w) of ‎Section 6.1);

 

(d)         restrictions
by reason of customary provisions restricting assignments, subletting or other transfers (including the granting of any Lien) contained
in leases, subleases, licenses, sublicenses and other agreements entered into in the ordinary course of business (provided
that such restrictions are limited to the relevant leases, subleases, licenses, sublicenses or other agreements and/or the property
or assets secured by such Liens or the property or assets subject to such leases, subleases, licenses, sublicenses or other agreements,
as the case may be);

 

(e)         Permitted
Liens and restrictions in the agreements relating thereto that limit the right of the Borrowers and/or any Restricted Subsidiary
to Dispose of, or encumber the assets subject to such Liens;

 

(f)          provisions
limiting the Disposition or distribution of assets or property in joint venture agreements, sale-leaseback agreements, stock sale
agreements and other similar agreements, which limitation is applicable only to the assets that are the subject of such agreements
(or the Persons the Capital Stock of which is the subject of such agreement);

 

(g)         any
encumbrance or restriction assumed in connection with an acquisition of the property or Capital Stock of any Person, so long as
such encumbrance or restriction relates solely to the property so acquired (or to the Person or Persons (and its or their subsidiaries)
bound thereby) and was not created in connection with or in anticipation of such acquisition;

 

(h)         restrictions
imposed by customary provisions in partnership agreements, limited liability company organizational governance documents, joint
venture agreements and other similar agreements that restrict the transfer of the assets of, or ownership interests in, the relevant
partnership, limited liability company, joint venture or any similar Person;

 

(i)           restrictions
on cash or other deposits imposed by Persons under contracts entered into in the ordinary course of business or for whose benefit
such cash or other deposits exist;

 

(j)           restrictions
set forth in documents which exist on the Closing Date;

 

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(k)         restrictions
contained in documents governing Indebtedness permitted hereunder of any Restricted Subsidiary that is not a Loan Party;

 

(l)          restrictions
set forth in any Loan Document, any Hedge Agreement and/or any agreement relating to any Bank Product Obligation; and

 

(m)        other
restrictions or encumbrances imposed by any amendment, modification, restatement, renewal, increase, supplement, refunding, replacement
or refinancing of the contracts, instruments or obligations referred to in clauses ‎(a) through ‎(l) above;
provided that no such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing
is, in the good faith judgment of the Borrower, may be more restrictive with respect to such encumbrances and other restrictions,
taken as a whole, than those in effect prior to the relevant amendment, modification, restatement, renewal, increase, supplement,
refunding, replacement or refinancing.

 

6.4         Restricted
Payments; Restricted Debt Payments.

 

(a)          The
Borrowers shall not pay or make, directly or indirectly, any Restricted Payment, except that:

 

(i)          the
Borrowers may make Restricted Payments to the extent necessary to permit any Parent Company:

 

(A)         to
(1) pay general administrative and operating costs and expenses (including corporate overhead, legal or similar expenses and customary
salary, bonus and other benefits payable to officers, employees, members of management, managers, employees and/or consultants
of any Parent Company (and/or any Immediate Family Member of any of the foregoing)) and franchise fees, franchise Taxes and similar
fees, Taxes and expenses required to maintain the organizational existence of such Parent Company, in each case, which are reasonable
and customary and incurred in the ordinary course of business, to the extent attributable to the ownership or operations of Holdings
(but excluding, for the avoidance of doubt, the portion of any such amount, if any, that is attributable to the ownership or operations
of any subsidiary of Holdings other than Intermediate Holdings, CP Holdings LLC, Buyer, the Borrowers and/or their subsidiaries),
Intermediate Holdings, CP Holdings LLC, Buyer, the Borrowers and their subsidiaries; provided, that Restricted Payments made pursuant
to this Section 6.4(a)(i)(A)(1) shall not exceed $5,000,000 in any Fiscal Year, (2) pay customary salary or fees payable
to directors of any Parent Company (and/or any Immediate Family Member of the foregoing), which is reasonable and customary and
incurred in the ordinary course of business, to the extent attributable to the ownership of Intermediate Holdings, CP Holdings
LLC, Buyer, the Borrowers and/or their subsidiaries, subject, in the case of salary or fees in respect of directors appointed by,
and representatives of, the Sponsor, to the aggregate cap set forth in clause (a) of the definition of “Sponsor Fees”,
(3) any reasonable and customary indemnification claims made by directors, officers, members of management, managers, employees
or consultants of any Parent Company, in each case, to the extent attributable to the ownership or operations of Holdings (but
excluding, for the avoidance of doubt, the portion of any such amount, if any, that is attributable to the ownership or operations
of any subsidiary of Holdings other than Intermediate Holdings, CP Holdings LLC, Buyer, the Borrowers and/or its subsidiaries),
Intermediate Holdings, CP Holdings LLC, Buyer, the Borrowers and their subsidiaries; and (4) pay costs and expenses, including
any public company costs, associated with the compliance by Holdings with the requirements and/or regulations applicable to public
companies, including, without limitation, the “Sarbanes-Oxley” legislation and related regulatory rules and regulations
promulgated thereunder;

 

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(B)         to
pay Taxes due and payable by such Parent Company to any taxing authority and that are attributable to the income or operation of
Holdings, Intermediate Holdings, CP Holdings LLC, Buyer, the Borrowers or their Restricted Subsidiaries, including any consolidated,
combined or similar income tax liabilities attributable to taxable income of Holdings, Intermediate Holdings, CP Holdings LLC,
Buyer, Borrowers and their Restricted Subsidiaries; provided that such Tax payment shall not exceed the Taxes of the Borrowers
and their Restricted Subsidiaries that would be payable if the Borrowers and their Restricted Subsidiaries were a separate consolidated,
combined, unitary or similar group; provided, further that the amount permitted under this subclause (B) relating
to Taxes that are attributable to the taxable income of Unrestricted Subsidiaries in any period shall be limited to the amount
of dividends and other distributions actually made by such Unrestricted Subsidiaries to any Restricted Subsidiary for such purpose;

 

(C)         to
pay audit and other accounting and reporting expenses of such Parent Company to the extent attributable to Holdings (but excluding,
for the avoidance of doubt, the portion of any such expenses, if any, attributable to the ownership or operations of any subsidiary
of Holdings, other than Intermediate Holdings, CP Holdings LLC, Buyer, the Borrowers and/or their subsidiaries), Intermediate Holdings,
CP Holdings LLC, Buyer, the Borrowers and their Restricted Subsidiaries;

 

(D)         for
the payment of insurance premiums to the extent attributable to Holdings (but excluding, for the avoidance of doubt, the portion
of any such premiums, if any, attributable to the ownership or operations of any subsidiary of Holdings other than Intermediate
Holdings, CP Holdings LLC, Buyer, the Borrowers and/or their subsidiaries), Holdings, Intermediate Holdings, CP Holdings LLC, Buyer,
the Borrowers and their Restricted Subsidiaries; and

 

(E)         to
finance any Investment permitted under ‎Section 6.6 (provided that (x) any Restricted Payment under this clause
‎(a)‎(i)‎(E) shall be made substantially concurrently with the closing of such Investment and (y) the relevant
Parent Company shall, promptly following the closing thereof, cause (I) all property acquired to be contributed to a Borrower or
one or more of its Restricted Subsidiaries, or (II) the merger, consolidation or amalgamation of the Person formed or acquired
into a Borrower or one or more of its Restricted Subsidiaries, in order to consummate such Investment in compliance with the applicable
requirements of ‎Section 6.6 as if undertaken as a direct Investment by the relevant Borrower or the relevant Restricted
Subsidiary; provided further, any property received by a Borrower or any Restricted Subsidiary in connection with such transaction
shall only increase the Available Amount to the extent the fair market value of such property (as determined in good faith by the
Board of Directors of the applicable Borrower) exceeds the aggregate amount of Restricted Payments made pursuant to this clause
(a)(i)(E);

 

(ii)         the
Borrowers may (or may make Restricted Payments to allow any Parent Company to) repurchase, redeem or otherwise acquire or retire
for value the Capital Stock of any Parent Company or any subsidiary held by any future, present or former employee, director, member
of management, officer or consultant (or any Affiliate or Immediate Family Member thereof) of any Parent Company, the Borrowers
or any Restricted Subsidiary of the Borrowers:

 

(A)         with
cash and Cash Equivalents (and including, to the extent constituting a Restricted Payment, amounts paid in respect of promissory
notes issued to evidence any obligation to repurchase, redeem, retire or otherwise acquire or retire for value the Capital Stock
of any Parent Company or any Restricted Subsidiary held by any future, present or former employee, director, member of management,
officer or consultant (or any Affiliate or Immediate Family Member thereof) of any Parent Company, the Borrowers or any Subsidiary
of the Borrowers); provided, that at the time any such Restricted Payment is made and after giving pro forma effect thereto,
the aggregate amount of Restricted Payments made as of such date pursuant to this ‎Section 6.4(a)(ii)(A) shall not exceed
$5,000,000;

 

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(B)         with
the proceeds of any sale or issuance of the Capital Stock of a Borrower or any Parent Company (to the extent such proceeds are
contributed in respect of Qualified Capital Stock to the relevant Borrower or any Restricted Subsidiary), but only to the extent
such proceeds have not otherwise been applied to increase the Available Amount or Available Excluded Contribution Amount, to make
Restricted Payments or Restricted Debt Payments hereunder; or

 

(C)         with
the net proceeds of any key-man life insurance policies;

 

(iii)        the
Borrowers may make additional Restricted Payments in an amount not to exceed (A) the portion, if any, of the Available Amount (excluding
any Growth Amount) on such date that such Borrower elects to apply to this clause ‎(iii)‎(A), and/or (B) the portion,
if any, of the Available Excluded Contribution Amount on such date that the Borrowers elect to apply to this clause (iii)(B);

 

(iv)        the
Borrowers may make Restricted Payments (i) to any Parent Company to enable such Parent Company to make cash payments in lieu of
the issuance of fractional shares in connection with the exercise of warrants, options or other securities convertible into or
exchangeable for Capital Stock of such Parent Company and (ii) consisting of (A) payments made or expected to be made in respect
of withholding or similar Taxes payable by any future, present or former officers, directors, employees, members of management,
managers or consultants of the Borrower, any Restricted Subsidiary or any Parent Company or any of their respective Immediate Family
Members and/or (B) repurchases of Capital Stock in consideration of the payments described in sub-clause ‎(A) above;

 

(v)         the
Borrowers may make Restricted Payments to repurchase (or make Restricted Payments to any Parent Company to enable it to repurchase)
Capital Stock upon the exercise of warrants, options or other securities convertible into or exchangeable for Capital Stock if
such Capital Stock represents all or a portion of the exercise price of such warrants, options or other securities convertible
into or exchangeable for Capital Stock as part of a “cashless” exercise;

 

(vi)        the
Borrowers may make Restricted Payments, the proceeds of which are applied on the Closing Date, solely to effect the consummation
of, the Transactions;

 

(vii)       to
the extent constituting a Restricted Payment, the Borrowers may consummate any transaction permitted by ‎Section 6.6
(other than Sections ‎6.6(i) and ‎(s)), ‎Section 6.7 (other than ‎Section 6.7(g)) and
‎Section 6.8 (other than ‎Section 6.8(d));

 

(viii)      other
Restricted Payments; provided that (x) no Event of Default has occurred and is continuing or would result therefrom and
(y) at the time any such Restricted Payment is made and after giving pro forma effect thereto, the aggregate amount of Restricted
Payments made as of such date pursuant to this ‎Section 6.4(a)(viii) shall not exceed $5,000,000; and

 

(ix)         any
other Restricted Payment subject to compliance with the Payment Conditions.

 

(b)         The
Borrowers shall not, nor shall the Borrowers permit any Restricted Subsidiary to, make any payment in cash on or in respect of
principal of or interest on any (x) Junior Lien Indebtedness, (y) Junior Indebtedness and (z) unsecured Indebtedness permitted
hereunder (the Indebtedness described in clauses (x) through (z), the “Restricted Debt”), including
any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination
of any Restricted Debt prior to the scheduled maturity (collectively, “Restricted Debt Payments”), except:

 

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(i)          any
purchase, defeasance, redemption, repurchase, repayment or other acquisition or retirement thereof made by exchange for, or out
of the proceeds of, Refinancing Indebtedness permitted to be incurred pursuant to ‎Section 6.1(m);

 

(ii)         payments
of regularly scheduled interest and payments of fees, expenses and indemnification obligations as and when due (other than payments
with respect to Junior Indebtedness that are prohibited by the subordination provisions thereof);

 

(iii)        (A)
Restricted Debt Payments in exchange for, or with proceeds of any issuance of, Qualified Capital Stock of Holdings and/or any capital
contribution in respect of Qualified Capital Stock of the Borrowers, but only to the extent such proceeds have not otherwise been
applied to increase the Available Amount or the Available Excluded Contribution Amount, to make Restricted Payments or Restricted
Debt Payments hereunder, (B) Restricted Debt Payments as a result of the conversion of all or any portion of any Restricted Debt
into Qualified Capital Stock of the Borrowers or any Parent Company and (C) to the extent constituting a Restricted Debt Payment,
payment-in-kind interest with respect to any Restricted Debt that is permitted under ‎Section 6.1;

 

(iv)        Restricted
Debt Payments in an aggregate amount not to exceed (A) the portion, if any, of the Available Amount (excluding any Growth Amount)
on such date that Borrowers elect to apply to this clause ‎(iv)‎(A), and (B) the portion, if any, of the Available
Excluded Contribution Amount on such date that Borrowers elect to apply to this clause ‎(iv)‎(B);

 

(v)         customary
AHYDO Payments;

 

(vi)        other
Restricted Debt Payments; provided that (A) no Event of Default has occurred and is continuing or would result therefrom,
and (B) at the time any such Restricted Debt Payment is made and after giving pro forma effect thereto, the aggregate amount of
Restricted Debt Payments made as of date pursuant to this clause (vi) shall not exceed $5,000,000; and

 

(vii)       any
other Restricted Debt Payments subject to compliance with the Payment Conditions.

 

6.5         Restrictions
on Subsidiary Distributions. Except as provided herein or in any other Loan Document, the Term Loan Facility Agreement, any
document with respect to any Incremental Equivalent Debt, and/or in agreements with respect to refinancings, renewals or replacements
of such Indebtedness that are permitted by ‎Section 6.1, Holdings shall not, nor shall it permit any of its Restricted
Subsidiaries to, enter into or cause to exist any agreement restricting the payment of dividends or other distributions or the
making of cash loans or advances by any Restricted Subsidiary to any Loan Party, except restrictions:

 

(a)         set
forth in any agreement evidencing (i) Indebtedness of a Restricted Subsidiary that is not a Loan Party permitted by ‎Section
6.1, (ii) Indebtedness permitted by ‎Section 6.1 that is secured by a Permitted Lien if the relevant restriction
applies only to the Person obligated under such Indebtedness and its Restricted Subsidiaries or the property or assets intended
to secure such Indebtedness and (iii) Indebtedness permitted pursuant to clauses ‎(j), ‎(m) (as it
relates to Indebtedness in respect of clauses ‎(a), ‎(j), ‎(o), ‎(q), ‎(s)
and/or (w) of ‎Section 6.1), ‎(n), ‎(p), ‎(r) and/or (w) of ‎Section
6.1;

 

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(b)         arising
under customary provisions restricting assignments, subletting or other transfers (including the granting of any Lien) contained
in leases, subleases, licenses, sublicenses, joint venture agreements and similar agreements entered into in the ordinary course
of business;

 

(c)          that
are or were created by virtue of any Lien granted upon, transfer of, agreement to transfer or grant of, any option or right with
respect to any assets or Capital Stock not otherwise prohibited under this Agreement;

 

(d)         that
are assumed in connection with any acquisition of property or the Capital Stock of any Person, so long as the relevant encumbrance
or restriction relates solely to the Person and its subsidiaries (including the Capital Stock of the relevant Person or Persons)
and/or property so acquired and was not created in connection with or in anticipation of such acquisition;

 

(e)         set
forth in any agreement for any Disposition of any Restricted Subsidiary (or all or substantially all of the property and/or assets
thereof) that restricts the payment of dividends or other distributions or the making of cash loans or advances by such Restricted
Subsidiary pending such Disposition;

 

(f)          set
forth in provisions in agreements or instruments which prohibit the payment of dividends or the making of other distributions with
respect to any class of Capital Stock of a Person other than on a pro rata basis;

 

(g)         imposed
by customary provisions in partnership agreements, limited liability company organizational governance documents, joint venture
agreements and other similar agreements;

 

(h)         on
cash, other deposits or net worth or similar restrictions imposed by any Person under any contract entered into in the ordinary
course of business or for whose benefit such cash, other deposits or net worth or similar restrictions exist;

 

(i)          set
forth in documents which exist on the Closing Date;

 

(j)          arising
pursuant to an agreement or instrument relating to any Indebtedness permitted to be incurred after the Closing Date if such restrictions,
taken as a whole, are not materially less favorable to the Lenders than the restrictions contained in this Agreement, taken as
a whole (as determined in good faith by the Borrower);

 

(k)         arising
under or as a result of applicable Requirements of Law or the terms of any license, authorization, concession or permit;

 

(l)          arising
in any Hedge Agreement and/or any agreement relating to any Bank Product Obligation;

 

(m)        relating
to any asset (or all of the assets) of and/or the Capital Stock of the Borrowers and/or any Restricted Subsidiary which is imposed
pursuant to an agreement entered into in connection with any Disposition of such asset (or assets) and/or all or a portion of the
Capital Stock of the relevant Person that is permitted or not restricted by this Agreement;

 

(n)         set
forth in any agreement relating to any Permitted Lien that limits the right of the Borrowers or any Restricted Subsidiary to Dispose
of or encumber the assets subject thereto; and/or

 

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(o)         imposed
by any amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing of any contract,
instrument or obligation referred to in clauses ‎(a) through ‎(n) above; provided that such amendment,
modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing is, in the good faith judgment
of the Borrower, no more restrictive with respect to such restrictions, taken as a whole, than those in existence prior to such
amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing.

 

6.6         Investments.
None of Holdings, Intermediate Holdings, Buyer, CP Holdings LLC, or the Borrowers shall, nor shall the Borrowers permit any Restricted
Subsidiary to, make or own any Investment in any other Person except:

 

(a)         cash
or Investments that were Cash Equivalents at the time made;

 

(b)         (i)
Investments existing on the Closing Date in the Borrowers or in any Subsidiary, (ii) Investments made after the Closing Date among
the Borrowers and/or one or more Restricted Subsidiaries that are Loan Parties, (iii) Investments made after the Closing Date by
any Loan Party in Holdings, Intermediate Holdings, CP Holdings LLC, and/or any Restricted Subsidiary that is not a Loan Party,
together with Permitted Acquisitions to the extent permitted by clause (b)(i) of the definition thereof and Investments
made in reliance on Section 6.6(p), in an aggregate outstanding amount not to exceed the Non-Loan Party Investment Cap so
long as the Payment Conditions have been satisfied, (iv) Investments made by any Restricted Subsidiary that is not a Loan Party
in any Loan Party and/or any other Restricted Subsidiary that is not a Loan Party and (v) Investments made by any Loan Party and/or
any Restricted Subsidiary that is not a Loan Party in the form of any contribution or Disposition of the Capital Stock of any Person
that is not a Loan Party;

 

(c)         Investments
(i) constituting deposits, prepayments and/or other credits to suppliers, (ii) made in connection with obtaining, maintaining or
renewing client and customer contracts and/or (iii) in the form of advances made to distributors, suppliers, licensors and licensees,
in each case, in the ordinary course of business or to the extent necessary to maintain the ordinary course of supplies to Holdings
or any Restricted Subsidiary;

 

(d)         subject
to satisfaction of the Payment Conditions, (i) Permitted Acquisitions and (ii) any Investment in any Restricted Subsidiary that
is not a Loan Party in an amount required to permit such Restricted Subsidiary to consummate a Permitted Acquisition (in compliance,
if applicable, with any cap on Investments in non-Loan Parties that is set forth in the relevant carve-out from this ‎Section
6.6), which amount is actually applied by such Restricted Subsidiary to consummate such Permitted Acquisition.

 

(e)         Investments
(i) existing on, or contractually committed to as of, the Closing Date and described on Schedule 6.6 and (ii) any modification,
replacement, renewal or extension of any Investment described in clause ‎(i) above so long as no such modification,
renewal or extension thereof increases the amount of such Investment except by the terms thereof or as otherwise permitted by this
‎Section 6.6;

 

(f)          Investments
received in lieu of cash in connection with any Disposition permitted by ‎Section 6.7;

 

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(g)         loans
or advances to present or former employees, directors, members of management, officers, managers or consultants or independent
contractors (or their respective Immediate Family Members) of any Parent Company, any of its subsidiaries and/or any joint venture
to the extent permitted by Requirements of Law, in connection with such Person’s purchase of Capital Stock of any Parent
Company, either (i) in an aggregate principal amount not to exceed at any one time outstanding the greater of $5,000,000 and 6%
of Consolidated Adjusted EBITDA for the most recently ended Test Period or (ii) so long as the proceeds of such loan or advance
are substantially contemporaneously contributed to the relevant Borrower for the purchase of Capital Stock;

 

(h)         Investments
consisting of extensions of credit in the nature of accounts receivable or notes receivable arising from the grant of trade credit
in the ordinary course of business;

 

(i)          Investments
consisting of (or resulting from) Indebtedness permitted under ‎Section 6.1 (other than Indebtedness permitted under
Sections ‎6.1(b) and ‎(g)), Permitted Liens, Restricted Payments permitted under ‎Section 6.4
(other than ‎Section 6.4(a)(vii)), Restricted Debt Payments permitted by ‎Section 6.4 and mergers, consolidations,
amalgamations, liquidations, windings up, dissolutions or Dispositions permitted by ‎Section 6.7 (other than ‎Section
6.7(a) (if made in reliance on sub-clause (ii)(y) of the proviso thereto), ‎Section 6.7(b) (if made in reliance
on clause (ii) therein), ‎Section 6.7(c)(ii) (if made in reliance on clause (B) therein) and ‎Section
6.7(g));

 

(j)           Investments
in the ordinary course of business consisting of endorsements for collection or deposit and customary trade arrangements with customers;

 

(k)          Investments
(including debt obligations and Capital Stock) received (i) in connection with the bankruptcy, restructuring or reorganization
of any Person, (ii) in settlement of delinquent obligations of, or other disputes with, customers, suppliers and other account
debtors arising in the ordinary course of business, (iii) upon foreclosure with respect to any secured Investment or other transfer
of title with respect to any secured Investment and/or (iv) as a result of the settlement, compromise, resolution of litigation,
arbitration or other disputes;

 

(l)           loans
and advances of (x) payroll payments or other compensation and (y) moving, entertainment and travel expenses, drawing accounts
and similar expenditures, in each case under this clause ‎(l) to present or former employees, directors, members of
management, officers, managers or consultants of any Parent Company (to the extent such payments or other compensation relate to
services provided to such Parent Company (but excluding, for the avoidance of doubt, the portion of any such amount, if any, attributable
to the ownership or operations of any subsidiary of any Parent Company other than the Borrowers and/or their subsidiaries)), the
Borrowers and/or any subsidiary of the Borrowers in the ordinary course of business;

 

(m)        Investments
to the extent that payment therefor is made solely with Capital Stock of any Parent Company or Qualified Capital Stock of the Borrowers
or any Restricted Subsidiary, in each case, to the extent not resulting in a Change of Control;

 

(n)         (i)
Investments of any Restricted Subsidiary acquired after the Closing Date, or of any Person acquired by, or merged into or consolidated
or amalgamated with, Holdings or any Restricted Subsidiary after the Closing Date, in each case as part of an Investment otherwise
permitted by this ‎Section 6.6 to the extent that such Investments were not made in contemplation of or in connection
with such acquisition, merger, amalgamation or consolidation and were in existence on the date of the relevant acquisition, merger,
amalgamation or consolidation and (ii) any modification, replacement, renewal or extension of any Investment permitted under clause
‎(i) of this ‎Section 6.6(n) so long as no such modification, replacement, renewal or extension thereof increases
the amount of such Investment except as otherwise permitted by this ‎Section 6.6;

 

(o)         Investments
made in connection with the Transactions;

 

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(p)         Investments
made after the Closing Date by the Borrowers and/or any of their Restricted Subsidiaries in an aggregate amount at any time outstanding
not to exceed, together with Investments made in reliance on Section 6.6(b)(iii) and Permitted Acquisitions to the extent
permitted by clause (b)(i) of the definition thereof, the greater of $20,000,000 and twenty-five percent (25%) of Consolidated
Adjusted EBITDA for the most recently ended Test Period;

 

(q)          Investments
made after the Closing Date by the Borrowers and/or any of their Restricted Subsidiaries in an aggregate outstanding amount not
to exceed (i) the portion, if any, of the Available Amount (excluding any Growth Amount) on such date that such Borrower elects
to apply to this clause ‎(q)‎(i); provided that no Specified Event of Default has occurred and is continuing
or would result therefrom, and (ii) the portion, if any, of the Available Excluded Contribution Amount on such date that such Borrower
elects to apply to this clause ‎(q)‎(ii);

 

(r)           to
the extent not constituting Indebtedness, (i) Guarantees of leases (other than Capital Leases) or of other obligations and (ii)
Guarantees of the lease obligations of suppliers, customers, franchisees and licensees of the Borrowers and/or their Restricted
Subsidiaries, in each case, in the ordinary course of business;

 

(s)         Investments
in any Parent Company in amounts and for purposes for which Restricted Payments to such Parent Company are permitted under ‎Section
6.4(a); provided that any Investment made as provided above in lieu of any such Restricted Payment shall reduce availability
under the applicable Restricted Payment basket under ‎Section 6.4(a);

 

(t)          Investments
under any Derivative Transaction of the type permitted under Section 6.1(v);

 

(u)         Investments
(i) in joint ventures and Unrestricted Subsidiaries, or (ii) in any Restricted Subsidiary to enable such Restricted Subsidiary
to make Investments in joint ventures and Unrestricted Subsidiaries, or (iii) in joint ventures or non-Wholly-Owned Subsidiaries
as required by, or made pursuant to, customary buy/sell arrangements between the joint venture parties set forth in joint venture
agreements and similar binding arrangements entered into in the ordinary course of business, in the cases of this clause (u),
an aggregate outstanding amount not to exceed $5,000,000; provided that no Specified Event of Default has occurred and is
continuing or would result from any such Investment pursuant to this clause (u);

 

(v)         unfunded
pension fund and other employee benefit plan obligations and liabilities to the extent that the same are permitted to remain unfunded
under applicable Requirements of Law;

 

(w)        Investments
in Holdings, Intermediate Holdings, CP Holdings LLC, the Borrowers any subsidiary and/or any joint venture in connection with intercompany
cash management arrangements and related activities in the ordinary course of business; and

 

(x)          any
other Investments (other than Permitted Acquisitions) subject to satisfaction of the Payment Conditions.

 

6.7         Fundamental
Changes; Disposition of Assets. The Borrowers shall not, nor shall the Borrowers permit any of their Restricted Subsidiaries
to, enter into any transaction of merger, consolidation or amalgamation or liquidate, wind up or dissolve themselves (or suffer
any liquidation or dissolution), or make any Disposition of any assets having a fair market value in excess of $2,500,000, in a
single transaction or in a series of related transactions, except:

 

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(a)          any
Restricted Subsidiary may be merged, consolidated or amalgamated with or into a Borrower or another Restricted Subsidiary; provided
that (i) in the case of any such merger, consolidation or amalgamation with or into a Borrower, (A) a Borrower shall be the continuing
or surviving Person or (B) if the Person formed by or surviving any such merger, consolidation or amalgamation is not a Borrower
(any such Person, the “Successor Borrower”), (w) the Successor Borrower shall provide the documentation and
other information reasonably requested in writing by the Lenders that they reasonably determine is required by regulatory authorities
under applicable “know your customer” and anti-money-laundering rules and regulations, including the PATRIOT Act, and
including, with respect to any Successor Borrower that qualifies as a “legal entity customer” under the Beneficial
Ownership Regulation, a Beneficial Ownership Certification in relation to such Borrower, in each case at least three Business Days
prior to the effectiveness of such merger, consolidation or amalgamation (or such shorter period as Agent shall otherwise agree),
(x)(1) in the case of a US Borrower, the Successor Borrower shall be an entity organized or existing under the laws of the U.S.,
any state thereof or the District of Columbia, and (2) in the case of a UK Borrower, the Successor Borrower shall be an entity
organized or existing under the laws of England and Wales, (y) the Successor Borrower shall expressly assume the Obligations of
the applicable Borrower in a manner reasonably satisfactory to Agent and (z) except as Agent may otherwise agree, each Guarantor,
unless it is the other party to such merger, consolidation or amalgamation, shall have executed and delivered a reaffirmation agreement
with respect to its obligations under the Loan Documents; it being understood that if the foregoing conditions under clauses
(w) through (z) are satisfied, the Successor Borrower will succeed to, and be substituted for, such Borrower under this
Agreement and the other Loan Documents, and (ii) in the case of any such merger, consolidation or amalgamation with or into any
Subsidiary Guarantor or sale of assets by any Subsidiary Guarantor, either (x) such Subsidiary Guarantor shall be the continuing
or surviving Person or the continuing or surviving Person shall expressly assume the obligations of the Subsidiary Guarantor in
a manner reasonably satisfactory to the Agent or (y) the relevant transaction shall be treated as an Investment and shall comply
with ‎Section 6.6;

 

(b)          Dispositions
(including of Capital Stock) among the Borrowers and/or any Restricted Subsidiary (upon voluntary liquidation or otherwise); provided
that any such Disposition made by any Loan Party to a Person that is not a Loan Party shall be (i) for fair market value (as reasonably
determined by such Person) with at least 75% of the consideration for such Disposition consisting of cash or Cash Equivalents at
the time of such Disposition or (ii) treated as an Investment and otherwise made in compliance with ‎Section 6.6 (other
than in reliance on clause ‎(i) thereof);

 

(c)          (i)
the liquidation or dissolution of any Restricted Subsidiary if Holdings reasonably determines in good faith that such liquidation,
dissolution is in the best interests of Holdings, is not materially disadvantageous to the Lenders and Holdings or any Restricted
Subsidiary receives any assets of the relevant dissolved or liquidated Restricted Subsidiary; provided that in the case
of any liquidation or dissolution of any Loan Party that results in a distribution of assets to any Restricted Subsidiary that
is not a Loan Party, such distribution shall be treated as an Investment and shall comply with ‎Section 6.6 (other than
in reliance on clause ‎(i) thereof); (ii) any merger, amalgamation, dissolution, liquidation or consolidation, the purpose
of which is to effect (A) any Disposition otherwise permitted under this ‎Section 6.7 (other than clause ‎(a),
clause ‎(b) or this clause ‎(c)) or (B) any Investment permitted under ‎Section 6.6 (other than
in reliance on clause (i) thereof); and (iii) the conversion of a Borrower or any Restricted Subsidiary into another form
of entity so long as such conversion does not adversely affect the value of the Guaranty (as defined in the US Guaranty and Security
Agreement) or Collateral, if any;

 

(d)          the
leasing or subleasing of real property in the ordinary course of business;

 

(e)          Dispositions
in the ordinary course of business of surplus, obsolete, used or worn out property or other property that, in the reasonable judgment
of Holdings, is (i) no longer used or useful in its business (or in the business of any Restricted Subsidiary) or (ii) otherwise
economically impracticable to maintain;

 

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(f)          Dispositions
of cash and/or Cash Equivalents and/or other assets that were Cash Equivalents when the relevant original Investment was made;

 

(g)         Dispositions,
mergers, amalgamations, consolidations or conveyances that constitute Investments permitted pursuant to ‎Section 6.6
(other than ‎Section 6.6(i), Permitted Liens and Restricted Payments permitted by ‎Section 6.4(a) (other
than ‎Section 6.4(a)(vii));

 

(h)         Dispositions
for fair market value (as determined in good faith by the Borrower); provided that with respect to any such Disposition
with a purchase price in excess of the greater of $10,000,000 and 12.5% of Consolidated Adjusted EBITDA for the most recently ended
Test Period, at least 75% of the consideration for such Disposition shall consist of cash or Cash Equivalents (provided
that for purposes of the 75% cash consideration requirement, (x) the amount of any Indebtedness or other liabilities (other than
Indebtedness or other liabilities that are subordinated to the Obligations or that are owed to the Holdings or any Restricted Subsidiary)
of Holdings and any Restricted Subsidiary (as shown on such Person’s most recent balance sheet or statement of financial
position (or in the notes thereto)) that are assumed by the transferee of any such assets and for which Holdings and/or its applicable
Restricted Subsidiary have been validly released by all relevant creditors in writing, (y) any securities received by Holdings
or any Restricted Subsidiary from such transferee that are converted by such Person into cash or Cash Equivalents (to the extent
of cash or Cash Equivalents received) within 180 days following the closing of the applicable Disposition and (z) any Designated
Non-Cash Consideration received in respect of such Disposition having an aggregate fair market value, taken together with all other
Designated Non-Cash Consideration received pursuant to this clause (z) that is at that time outstanding not in excess of
the greater of $20,000,000 and 25.0% of Consolidated Adjusted EBITDA for the most recently ended Test Period shall be deemed to
be cash); provided, further, that immediately prior to and after giving effect to such Disposition, as determined
on the date on which the agreement governing such Disposition is executed, no Event of Default exists;

 

(i)          to
the extent that (i) the relevant property is exchanged for credit against the purchase price of similar replacement property or
(ii) the proceeds of the relevant Disposition are promptly applied to the purchase price of such replacement property;

 

(j)          Dispositions
of Investments in joint ventures or any subsidiary that is not a Wholly-Owned Subsidiary to the extent required by, or made pursuant
to, buy/sell arrangements between joint venture or similar parties set forth in the relevant joint venture arrangements and/or
similar binding arrangements;

 

(k)         Dispositions
of accounts receivable or in connection with the collection or compromise thereof (including any discounting or forgiveness thereof)
in the ordinary course of business;

 

(l)          Dispositions
and/or terminations of leases, subleases, licenses or sublicenses (including the provision of software under any open source license),
which do not materially interfere with the business of the Borrowers and its Restricted Subsidiaries;

 

(m)        (i)
any termination of any lease in the ordinary course of business, (ii) any expiration of any option agreement in respect of real
or personal property and (iii) any surrender or waiver of contractual rights or the settlement, release or surrender of contractual
rights or litigation claims (including in tort);

 

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(n)         Dispositions
of property subject to foreclosure, casualty, eminent domain or condemnation proceedings (including in lieu thereof or any similar
proceeding);

 

(o)         [reserved];

 

(p)         exchanges
or swaps, including transactions covered by Section 1031 of the IRC (or any comparable provision of any foreign jurisdiction),
of assets so long as any such exchange or swap is made for fair value (as reasonably determined by the Borrower) for like assets;
provided that upon the consummation of any such exchange or swap by any Loan Party, to the extent the assets received do
not constitute an Excluded Asset, the Agent has a perfected Lien with the same priority as the Lien held on the Real Estate Assets
so exchanged or swapped;

 

(q)         other
Dispositions; provided that the aggregate for fair market value (as determined in good faith by Holdings) of all assets
subject to such Dispositions since the Closing Date shall not exceed $10,000,000;

 

(r)          (i)
non-exclusive licensing arrangements involving any IP Rights of the Borrowers or any Restricted Subsidiary in the ordinary course
of business and (ii) Dispositions, abandonments, cancellations or lapses of IP Rights, or issuances or registrations, or applications
for issuances or registrations, of IP Rights, in the ordinary course of business, which, in the reasonable good faith determination
of the relevant Borrower, are no longer used, useful or economical to maintain in light of its use;

 

(s)         terminations
or unwinds of Derivative Transactions;

 

(t)          Dispositions
of Capital Stock of, or sales of Indebtedness or other securities of, Unrestricted Subsidiaries;

 

(u)         any
merger, consolidation, Disposition or conveyance the sole purpose of which is to reincorporate or reorganize (i) any Domestic Subsidiary
in another jurisdiction in the U.S. and/or (ii) any Foreign Subsidiary in the U.S. or any other jurisdiction;

 

(v)         Dispositions
contemplated on the Closing Date and described on Schedule 6.7(v);

 

(w)        Dispositions
of letters of credit and/or bank guarantees (and/or the rights thereunder) to banks or other financial institutions in the ordinary
course of business in exchange for cash and/or Cash Equivalents; and

 

(x)          Sale
and Lease-Back Transactions so long as the aggregate fair market value (as determined in good faith by Borrowers) of the assets
sold subject to all Sale and Lease-Back Transactions under this clause ‎(x) shall not exceed (i) with respect to assets
in the United Kingdom, the greater of $2,000,000 and two and one-half percent (2.50%) of Consolidated Adjusted EBITDA for the most
recently ended Test Period in the aggregate and (ii) with respect to assets in jurisdictions other than the United Kingdom, $10,000,000;
provided, that the Net Proceeds of such Sale and Lease-Back Transaction subject to this clause (ii) shall be applied
pursuant to ‎Section 2.08(b)(ii) of the Term Loan Facility Agreement (it being understood that any Net Proceeds so received
shall not be permitted to be reinvested pursuant to such Section);

 

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provided, that if, as of any date
of determination, sales or Dispositions by the Loan Parties of ABL Priority Collateral and/or UK Collateral during the period of
time from the first day of the month in which such date of determination occurs until such date of determination, either individually
or in the aggregate, involve $2,500,000 or more of assets included in the Borrowing Base (based on the fair market value of the
assets so Disposed, determined in good faith by the Administrative Borrower) (the “Disposition Threshold Amount”),
then Borrowers shall have, prior to consummation of the sale or Disposition that causes the assets included in the Borrowing Base
that are sold or Disposed of during such period to exceed the Disposition Threshold Amount, delivered to Agent an updated Borrowing
Base Certificate that reflects the removal of the applicable assets from the Borrowing Base; and provided further that such
sales or Dispositions by the Loan Parties of ABL Priority Collateral and/or UK Collateral shall not result in an overadvance requiring
repayment of the Obligations under Section 2.4(e)(i).

 

To the extent any Collateral
is Disposed of as expressly permitted by this ‎Section 6.7 to any Person other than a Loan Party, such Collateral shall
automatically be sold free and clear of the Liens created by the Loan Documents, and Agent and/or UK Security Agent shall be authorized
to take, and shall take, any actions deemed appropriate in order to effect the foregoing. Notwithstanding anything herein to the
contrary, no Borrower shall itself enter into any division or allocation of assets to a series of limited liability companies under
any applicable law.

 

6.8         Transactions
with Affiliates. Holdings shall not, nor shall it permit any of its Restricted Subsidiaries to, enter into any transaction
(including the purchase, sale, lease or exchange of any property or the rendering of any service) involving payment in excess of
$5,000,000 with any of their respective Affiliates on terms that are less favorable to Holdings or such Restricted Subsidiary,
as the case may be (as reasonably determined by Holdings), than those that might be obtained at the time in a comparable arm’s-length
transaction from a Person who is not an Affiliate; provided that the foregoing restriction shall not apply to:

 

(a)          any
transaction between or among Holdings and/or one or more Restricted Subsidiaries (or any entity that becomes a Restricted Subsidiary
as a result of such transaction) to the extent permitted or not restricted by this Agreement;

 

(b)         any
issuance, sale or grant of securities or other payments, awards or grants in cash, securities or otherwise pursuant to, or the
funding of employment arrangements, stock options and stock ownership plans approved by the Board of Directors (or equivalent governing
body) of any Parent Company or of Holdings or any Restricted Subsidiary;

 

(c)          (i)
any collective bargaining agreement, employment agreement, severance agreement or compensatory (including profit sharing) arrangement
entered into by the Borrowers or any of their Restricted Subsidiaries with their respective current or former officers, directors,
members of management, managers, employees, consultants or independent contractors or those of any Parent Company, (ii) any subscription
agreement or similar agreement pertaining to the repurchase of Capital Stock pursuant to put/call rights or similar rights with
current or former officers, directors, members of management, managers, employees, consultants or independent contractors and (iii)
transactions pursuant to any employee compensation, benefit plan, stock option plan or arrangement, any health, disability or similar
insurance plan which covers current or former officers, directors, members of management, managers, employees, consultants or independent
contractors or any employment contract or arrangement;

 

(d)          (i)
transactions permitted by Sections ‎6.1(c), ‎(l) and ‎(u), ‎6.4 and ‎6.6(g),
‎(l), ‎(n), ‎(p) and ‎(u) (to the extent the relevant transaction is an Investment
of the type described in ‎Section 6.6(g)), ‎(s), ‎(u), ‎(w) and ‎(v) and
(ii) issuances of Capital Stock and issuances or incurrences of Indebtedness not restricted by this Agreement;

 

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(e)         transactions
in existence on the Closing Date and described on Schedule 6.8 and any amendment, modification or extension thereof to the
extent such amendment, modification or extension, taken as a whole, is not adverse to the Lenders in any material respect;

 

(f)          the
payment of all indemnification obligations and expenses owed to any Management Equityholder and any of their respective directors,
officers, members of management, managers, employees and consultants whether currently due or paid in respect of accruals from
prior periods;

 

(g)         the
Transactions, including the payment of Transaction Costs and other payments required under the Concrete Pumping Acquisition Agreement;

 

(h)         Guarantees
permitted by ‎Section 6.1 or ‎Section 6.6;

 

(i)           the
payment of customary fees and reasonable out-of-pocket costs to, and indemnities provided on behalf of, former and current members
of the Board of Directors (or similar governing body), officers, employees, members of management, managers, consultants and independent
contractors of Holdings and/or any of its Restricted Subsidiaries and, in the case of payments to such Person in such capacity
on behalf of any Parent Company, to the extent attributable to the operations of Holdings, Intermediate Holdings, CP Holdings LLC,
Buyer, any Borrower or its Subsidiaries;

 

(j)           transactions
with customers, clients, suppliers, joint ventures, purchasers or sellers of goods or services or providers of employees or other
labor entered into in the ordinary course of business, which are (i) fair to the applicable Borrower and/or its applicable Restricted
Subsidiaries in the good faith determination of the Board of Directors (or similar governing body) of the applicable Borrower or
the senior management thereof or (ii) on terms at least as favorable to the applicable Borrower and/or its applicable Restricted
Subsidiary as might reasonably be obtained from a Person other than an Affiliate;

 

(k)          the
payment of reasonable out-of-pocket costs and expenses related to registration rights and customary indemnities provided to shareholders
under any shareholder agreement;

 

(l)           any
purchase by Holdings or Intermediate Holdings of the Capital Stock of (or contribution to the equity capital of) Target;

 

(m)         any
transaction in respect of which Holdings delivers to Agent a letter addressed to the Board of Directors (or equivalent governing
body) of Holdings from an accounting, appraisal or investment banking firm of nationally recognized standing stating that such
transaction is on terms that are no less favorable to the applicable Borrower or the applicable Restricted Subsidiary than might
be obtained at the time in a comparable arm’s length transaction from a Person who is not an Affiliate; and

 

(n)          any
issuance, sale or grant of Qualified Capital Stock or other payments, awards or grants in cash, Qualified Capital Stock or otherwise
pursuant to, or the funding of employment arrangements, stock options and stock ownership plans approved by a majority of the members
of the Board of Directors (or similar governing body) or a majority of the disinterested members of the Board of Directors (or
similar governing body) of the applicable Borrower or the applicable Restricted Subsidiary in good faith; and

 

(o)          payments
of Sponsor Fees; provided that if an Event of Default under ‎Section 8.1(a) or, with respect to the Borrowers,
‎Section 8.1(g), has occurred and is continuing, any Sponsor Fee payable in cash or Cash Equivalents thereunder shall
accrue but shall not be paid until such Event of Default is cured or waived.

 

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6.9         Amendments
or Waivers of Governing Documents. Holdings shall not, nor shall it permit any Guarantor to, amend or modify their respective
Governing Documents, in each case in a manner that is materially adverse to the Lenders (in their capacities as such) without obtaining
the prior written consent of Agent.

 

6.10       Amendments
of or Waivers with Respect to Restricted Debt. Holdings shall not, nor shall it permit any of its Restricted Subsidiaries
to, amend or otherwise modify the terms of any Restricted Debt (or the documentation governing any Restricted Debt) (a) if the
effect of such amendment or modification, together with all other amendments or modifications made, is materially adverse to the
interests of the Lenders (in their capacities as such) or (b) in violation of any intercreditor agreement related to such Restricted
Debt entered into with Agent or the subordination terms set forth in the definitive documentation governing any Restricted Debt.

 

6.11       Permitted
Activities of Holdings, Intermediate Holdings, and Buyer. None of Holdings, Intermediate Holdings, or Buyer shall:

 

(a)          incur
any Indebtedness for borrowed money other than the Obligations and other Guarantees of Indebtedness or other obligations of the
Borrowers and/or any Restricted Subsidiary that are otherwise permitted hereunder;

 

(b)          create
or suffer to exist any Lien on any asset now owned or hereafter acquired by it other than (i) the Liens created under the Security
Documents and, subject to an Acceptable Intercreditor Agreement, the collateral documents related to the Term Loan Facility Agreement,
to which it is a party, (ii) any other Lien created in connection with the Transactions, (iii) Permitted Liens on the Collateral
that are secured on a pari passu or junior basis with the Obligations, so long as such Permitted Liens secure Guarantees permitted
under clause ‎(a) above and the underlying Indebtedness subject to such Guarantee is permitted to be secured to the
extent permitted pursuant to ‎Section 6.2 and (iv) Liens of the type permitted under ‎Section 6.2 (other
than in respect of debt for borrowed money);

 

(c)          engage
in any business activity or own any material assets other than (i) holding the Capital Stock of any of its direct or indirect Subsidiaries;
(ii) performing its obligations under the Loan Documents, the Term Loan Facility Agreement, other Indebtedness, Liens (including
the granting of Liens) and Guarantees permitted hereunder; (iii) any grants, issuances, repurchases or withholdings by Holdings
of its own Capital Stock (including, the making of any dividend or distribution on account of, or any redemption, retirement, sinking
fund or similar payment, purchase or other acquisition for value of, any shares of any class of Capital Stock), stock options,
stock appreciation rights, restricted stock, restricted stock units, other stock-based awards and performance awards pursuant to
any equity incentive plans of Holdings; (iv) filing Tax reports and paying Taxes and other customary obligations in the ordinary
course (and contesting any Taxes); (v) preparing reports to Governmental Authorities and to its shareholders; (vi) holding director
and shareholder meetings, preparing organizational records and other organizational activities required to maintain its separate
organizational structure or to comply with applicable Requirements of Law; (vii) effecting any public offering of its Capital Stock
and/or any transaction in connection therewith; (viii) holding cash, Cash Equivalents and other assets received in connection with
Restricted Payments received from, or Investments made by, the Borrowers and/or any Restricted Subsidiary or any of their direct
or indirect subsidiaries or contributions to the capital of, or proceeds from the issuance of, Capital Stock of Holdings, in each
case, pending the application thereof; (ix) providing indemnification and expense reimbursement for its officers, directors, members
of management, managers, employees and advisors or consultants; (x) participating in tax, accounting and other administrative matters;
(xi) making payments of the type permitted under ‎Section 6.8(f) and the performance of its obligations under the Concrete
Pumping Acquisition Agreement and any other document, agreement and/or Investment contemplated by the Transactions and other transactions
expressly contemplated under this Agreement; (xii) complying with applicable Requirements of Law (including with respect to the
maintenance of its existence); (xiii) performance of rights and obligations under the Sponsor Management Agreement to which it
is a party, and (xiv) activities incidental to any of the foregoing or effecting any transaction permitted under this Agreement,
including, without limitation, the Transactions; and

 

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(d)          consolidate
or amalgamate with, or merge with or into, or convey, sell or otherwise transfer all or substantially all of its assets to, any
Person; provided that, so long as no Event of Default exists or would result therefrom, (i) Holdings, Intermediate Holdings,
and/or Buyer may consolidate or amalgamate with, or merge with or into, any other Person (other than the Borrowers or any of its
Restricted Subsidiaries) so long as (A) Holdings, Intermediate Holdings, and/or Buyer, as applicable, is the continuing or surviving
Person or (B) if the Person formed by or surviving any such consolidation, amalgamation or merger is not Holdings, Intermediate
Holdings, and/or Buyer, as applicable, (1) the successor Person (such successor Person, “Successor Holdings”,
“Successor Intermediate Holdings”, and/or “Successor Buyer”, as applicable) expressly assumes
all obligations of Holdings, Intermediate Holdings, and/or Buyer, as applicable, under this Agreement and the other Loan Documents
to which Holdings, Intermediate Holdings, and/or Buyer, as applicable, is a party pursuant to a supplement hereto and/or thereto
in a form reasonably satisfactory to the Agent, (2) Successor Holdings, Successor Intermediate Holdings, and/or Successor Buyer,
as applicable, shall provide the documentation and other information reasonably requested in writing by the Lenders that they reasonably
determine is required by regulatory authorities under applicable “know your customer” and anti-money-laundering rules
and regulations, including the PATRIOT Act, in each case at least three Business Days prior to the effectiveness of such merger,
consolidation or amalgamation (or such shorter period as the Agent shall otherwise agree), (3) Successor Holdings, Successor Intermediate
Holdings, and/or Successor Buyer, as applicable, shall be an entity organized or existing under the laws of the U.S., any state
thereof or the District of Columbia, and (4) the US Administrative Borrower delivers a certificate of a Responsible Officer with
respect to the satisfaction of the conditions set forth in clause (1) of this clause ‎(B) and (ii) Holdings, Intermediate Holdings,
and/or Buyer, as applicable, may otherwise convey, sell or otherwise transfer all or substantially all of its assets to any other
Person (other than the Borrowers and any of their respective Subsidiaries) so long as (A) no Change of Control results therefrom,
(B) the Person acquiring such assets expressly assumes all of the obligations of Holdings, Intermediate Holdings, and/or Buyer,
as applicable, under this Agreement and the other Loan Documents to which Holdings, Intermediate Holdings, and/or Buyer, as applicable,
is a party pursuant to a supplement hereto and/or thereto in a form reasonably satisfactory to the Agent and (C) the US Administrative
Borrower delivers a certificate of a Responsible Officer with respect to the satisfaction of the conditions under clause (A) set
forth in this clause ‎(ii); provided, further, that (x) if the conditions set forth in the preceding proviso
are satisfied, Successor Holdings, Successor Intermediate Holdings, and/or Successor Buyer, as applicable, will succeed to, and
be substituted for, Holdings, Intermediate Holdings, and/or Buyer, as applicable, under this Agreement and (y) it is understood
and agreed that Holdings, Intermediate Holdings, and/or Buyer, as applicable, may convert into another form of entity so long as
such conversion does not adversely affect the value of the Guaranty (as defined in the US Guaranty and Security Agreement) or the
Collateral.

 

6.12       Use
of Proceeds. Holdings, Intermediate Holdings, CP Holdings LLC, and each Borrower will not, and will not permit any of its
Subsidiaries to use the proceeds of any Loan or Letter of Credit made or issued hereunder for any purpose other than to: (a) (i)
with respect to Loans made on the Closing Date, to finance the Transactions or for other working capital purposes and to fund OID
or upfront fees required to be funded under the Term Flex Provisions (as defined in the Commitment Letter), and (ii) with respect
to Letters of Credit issued on the Closing Date, to backstop or replace letters of credit outstanding on the Closing Date under
facilities no longer available to the Borrowers and its Subsidiaries as of the Closing Date after giving effect to the transactions
contemplated hereby; and (b) with respect to Loans made, and Letters of Credit issued, after the Closing Date, to fund working
capital and for the general corporate purposes of Borrowers and their Subsidiaries and for any other purpose consistent with the
terms and conditions hereof, including to finance Permitted Acquisitions and other Permitted Investments; provided that
(x) no part of the proceeds of the Loans will be used to purchase or carry any such Margin Stock or to extend credit to others
for the purpose of purchasing or carrying any such Margin Stock or for any purpose that violates the provisions of Regulation T,
U or X of the Board of Governors, (y) no part of the proceeds of any Loan or Letter of Credit will be used, directly or indirectly,
to make any payments to a Sanctioned Entity or a Sanctioned Person, to fund any investments, loans or contributions in, or otherwise
make such proceeds available to, a Sanctioned Entity or a Sanctioned Person, to fund any operations, activities or business of
a Sanctioned Entity or a Sanctioned Person, or in any other manner that would result in a violation of Sanctions by any Person,
and (z) that no part of the proceeds of any Loan or Letter of Credit will be used, directly or indirectly, in furtherance of an
offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in
violation of any Sanctions, Anti-Corruption Laws or Anti-Money Laundering Laws.

 

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6.13       Conduct
of Business. From and after the Closing Date, (i) neither Holdings, Intermediate Holdings, CP Holdings LLC, nor the Borrowers
shall change its Fiscal Year-end to a date other than on or about October 31 and (ii) Holdings shall not, nor shall it permit any
of its Restricted Subsidiaries to, engage in any material line of business other than (a) the businesses engaged in by the Borrowers
or any of their Restricted Subsidiaries on the Closing Date and similar, complementary, ancillary or related businesses and (b)
such other lines of business as may be consented to by the Required Lenders.

 

6.14       UK
Pension Plans.

 

(a)          No
Borrower shall permit pension schemes operated by or maintained for the benefit of the UK Loan Parties and/or any of their employees
to be less than fully funded based on the statutory funding objective under sections 221 and 222 of the Pensions Act 2004 (UK)
or take any action or omission by any company in relation to such a pension scheme which has or is reasonably likely to have a
Material Adverse Effect (including the termination or commencement of winding-up proceedings of any such pension scheme or any
English company ceasing to employ any member of such a pension scheme).

 

(b)          No
Borrower shall permit any UK Loan Party to be at any time an employer (for the purposes of sections 38 to 51 of the Pensions Act
2004 (UK)) of an occupational pension scheme which is not a money purchase scheme (both terms as defined in the Pension Schemes
Act 1993) or “connected” with or an “associate” of (as those terms are defined in sections 38 or 43 of
the Pensions Act 2004) such an employer.

 

(c)          No
Borrower shall permit any UK Borrower to request or take the benefit of any pension contribution holiday in respect of any occupational
pension scheme which is not a money purchase scheme (both terms as defined in the Pension Schemes Act 1993 (UK)).

 

(d)          Each
Borrower shall deliver to Agent: (i) at such times as those reports are prepared in order to comply with the then current statutory
or auditing requirements (as applicable either to the trustees of any relevant schemes or to the UK Loan Party); and (ii) at any
other time if Agent reasonably believes that any relevant statutory or auditing requirements are not being complied with, actuarial
reports in relation to all pension schemes mentioned in clause (a) above.

 

(e)          Each
Borrower shall promptly notify Agent of any material change in the rate of contributions to any pension scheme mentioned in clause
(a) above paid or recommended to be paid (whether by the scheme actuary or otherwise) or required (by law or otherwise).

 

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6.15       Repayment.
No Borrower shall fund any repayment of any Loan or Letter of Credit with proceeds derived from a transaction prohibited by
any Anti-Corruption Law, Anti-Money Laundering Law or Sanction or in any manner that would cause any party hereto to be in breach
of any Anti-Corruption Law, Anti-Money Laundering Law or Sanction.

 

7.           FINANCIAL
COVENANT.

 

While a Compliance Period
is in effect, each of Holdings and each Borrower covenants and agrees that, until termination of all of the Commitments and payment
in full of the Obligations, Holdings and its Restricted Subsidiaries will have a Fixed Charge Coverage Ratio for the trailing twelve-month
period of at least 1.00:1.00 measured (a) as of the first day of such Compliance Period and (ii) thereafter, at the end of each
fiscal quarter during such Compliance Period for which financial statements under Section 5.1(a) or (b) were, or
were required to be, delivered hereunder.

 

8.           EVENTS
OF DEFAULT

 

8.1         Events
of Default. If any of the following events (each, an “Event of Default”) shall occur:

 

(a)          Failure
To Make Payments When Due. Failure by a Borrower to pay (i) any installment of principal of any Loan or any amount payable
to Issuing Bank in reimbursement of any drawing under a Letter of Credit when due, whether at stated maturity, by acceleration,
by notice of voluntary prepayment, by mandatory prepayment or otherwise, or (ii) any interest on any Loan or any fee or any other
amount due hereunder within five (5) Business Days after the date due; or

 

(b)          Default
in Other Agreements. (i) Failure by any Loan Party or any of its Restricted Subsidiaries to pay when due any principal of or
interest on or any other amount payable in respect of one or more items of Indebtedness (other than Indebtedness referred to in
clause ‎(a) above) with an aggregate outstanding principal amount exceeding the Threshold Amount; or (ii) breach or
default by any Loan Party or any of its Restricted Subsidiaries with respect to any other term of such Indebtedness described under
the foregoing clause ‎(i) (other than Indebtedness under the Term Loan Facility Agreement) pursuant to any loan agreement,
mortgage, indenture or other agreement relating to such item(s) of Indebtedness (other than, for the avoidance of doubt, with respect
to Indebtedness consisting of Hedge Obligations, termination events or equivalent events pursuant to the terms of the relevant
Hedge Agreement which are not the result of any default thereunder by any Loan Party or any Restricted Subsidiary), in each case
under the foregoing clauses ‎(i) and ‎(ii), beyond the grace period, if any, provided therefor, if the effect
of such breach or default is to cause, or to permit the holder or holders of such Indebtedness (or a trustee or agent on behalf
of such holder or holders) to cause, such Indebtedness to become or to be declared due and payable (or redeemable) or require that
an offer to repurchase, prepay, defease or redeem such Indebtedness be made prior to its stated maturity or the stated maturity
of any underlying obligation, as the case may be; provided that clause ‎(ii) of this paragraph ‎(b)
shall not apply to secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property securing
such Indebtedness if such sale or transfer is permitted hereunder; provided, further, that any failure under clauses
‎(i) or ‎(ii) above is unremedied and is not waived by the holders of such Indebtedness prior to any termination
of the Commitments or acceleration of the Loans pursuant to ‎Article 7. A breach or default by any Loan Party with respect
to the Term Loan Facility Agreement or with respect to the Term Loan Facility will constitute an Event of Default hereunder; or

 

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(c)          Breach
of Certain Covenants. Failure of any of Holdings, Intermediate Holdings, CP Holdings LLC, or any other Loan Party, as required
by the relevant provision, to perform or comply with any term or condition contained in Section 5.1(c) (solely if any Borrower
has failed to deliver a Compliance Certificate as prescribed thereby), ‎Section 5.1(e)(i) (provided that delivery
of any notice of default required to be delivered therein at any time will cure any Event of Default arising from the failure to
timely deliver such notice), Section 5.2 (solely if any Borrower has failed to deliver a Borrowing Base Certificate within
three (3) Business Days of the date as prescribed thereby (or one (1) Business Day if such breach is during a U.S. Cash Dominion
Period); provided that, the Borrowers shall not be permitted to request, and the Lender shall have no obligation to advance,
any Borrowing during such three (3) Business Days’ (or one (1) Business Day’s, as applicable) grace period), ‎Section
5.3 (with respect to the preservation of the legal existence of the Borrowers), Article 6 or Article 7 or Section
7 of the US Guaranty and Security Agreement; or

 

(d)          Breach
of Representations, Etc. (i) Any representation, warranty or certification made or deemed to be made by any of Holdings, Intermediate
Holdings, CP Holdings LLC, or any other Loan Party in any Borrowing Base Certificate delivered to the Agent pursuant hereto shall
prove to be untrue in any material respect as of the date made or deemed to be made; and (ii) any representation, warranty or certification
(other than any representation, warranty or certification set forth in the Borrowing Base Certificate) made or deemed made by any
Holdings, Intermediate Holdings, CP Holdings LLC, or any Loan Party in any Loan Document or in any certificate required to be delivered
in connection herewith or therewith (including, for the avoidance of doubt, any Perfection Certificate and any Perfection Certificate
Supplement) being untrue in any material respect as of the date made or deemed made (subject to a thirty (30) day grace period
in the case of any breached representation, warranty or certification (other than a Specified Representation) that is reasonably
capable of being cured); or

 

(e)          Other
Defaults Under Loan Documents. Default by Holdings, Intermediate Holdings, CP Holdings LLC, or any other Loan Party in the
performance of or compliance with any term contained herein or any of the other Loan Documents, other than any such term referred
to in any other Section of this ‎Article 8, which default has not been remedied or waived within 30 days after receipt
by the Administrative Borrower of written notice thereof from Agent; or

 

(f)          Involuntary
Bankruptcy; Appointment of Receiver, Etc. Other than in respect of the UK Loan Parties, (i) the entry by a court of competent
jurisdiction of a decree or order for relief in respect of Holdings, Intermediate Holdings, CP Holdings LLC, a Borrower or any
of their Restricted Subsidiaries (other than any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now
or hereafter in effect, which decree or order is not stayed; or any other similar relief shall be granted under any applicable
federal, state or local Requirements of Law; or (ii) the commencement of an involuntary case against Holdings, Intermediate Holdings,
CP Holdings LLC, the Borrowers or any of their Restricted Subsidiaries (other than any Immaterial Subsidiary) under any Debtor
Relief Law; or the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver,
receiver and manager, administrator, examiner, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, custodian
or other officer having similar powers over Holdings, Intermediate Holdings, CP Holdings LLC, the Borrowers or any of their Restricted
Subsidiaries (other than any Immaterial Subsidiary), or over all or a substantial part of its or their property; or the involuntary
appointment of an interim receiver, trustee or other custodian of Holdings, Intermediate Holdings, CP Holdings LLC, the Borrowers
or any of their Restricted Subsidiaries (other than any Immaterial Subsidiary) for all or a substantial part of its property, which
remains undismissed, unvacated, unbonded or unstayed pending appeal for 60 consecutive days; or

 

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(g)          Voluntary
Bankruptcy; Appointment of Receiver, Etc. Other than in respect of the UK Loan Parties (i) the entry against Holdings, Intermediate
Holdings, CP Holdings LLC, the Borrowers or any of their respective Restricted Subsidiaries (other than any Immaterial Subsidiary)
of an order for relief, the commencement by Holdings, Intermediate Holdings, CP Holdings LLC, any Borrower or any of its Restricted
Subsidiaries (other than any Immaterial Subsidiary) of a voluntary case under any Debtor Relief Law, or the consent by Holdings,
Intermediate Holdings, CP Holdings LLC, any Borrower or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary)
to the entry of an order for relief in an involuntary case or to the conversion of an involuntary case to a voluntary case, under
any Debtor Relief Law, or the consent by Holdings, Intermediate Holdings, CP Holdings LLC, any Borrower or any of its Restricted
Subsidiaries (other than any Immaterial Subsidiary) to the appointment of or taking possession by a receiver, receiver and manager,
trustee or other custodian for all or a substantial part of its property; (ii) the making by Holdings, Intermediate Holdings, CP
Holdings LLC, any Borrower or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) of a general assignment
for the benefit of creditors; or (iii) the admission by Holdings, Intermediate Holdings, CP Holdings LLC, any Borrower or any of
its Restricted Subsidiaries (other than any Immaterial Subsidiary) in writing of their inability to pay their respective debts
as such debts become due; or

 

(h)          Judgments
and Attachments. The entry or filing of one or more final money judgments, writs or warrants of attachment or similar process
against Holdings, Intermediate Holdings, CP Holdings LLC, any Borrower or any of its Restricted Subsidiaries or any of their respective
assets involving in the aggregate at any time an amount in excess of the Threshold Amount (in either case to the extent not adequately
covered by self-insurance (if applicable) or by insurance as to which the relevant third party insurance company has been notified
and not denied coverage), which judgment, writ, warrant or similar process remains unpaid, undischarged, unvacated, unbonded or
unstayed pending appeal for a period of 60 days; or

 

(i)           Employee
Benefit Plans. The occurrence of one or more ERISA Events, which individually or in the aggregate result in liability of Holdings
or any of its Restricted Subsidiaries, in an aggregate amount which would reasonably be expected to result in a Material Adverse
Effect; or

 

(j)           Change
of Control. The occurrence of a Change of Control; or

 

(k)          Guaranties,
Security Documents and Other Loan Documents. At any time after the execution and delivery thereof, (i) any material Guaranty
(as defined in the US Guaranty and Security Agreement) for any reason, other than the occurrence of the Termination Date, shall
cease to be in full force and effect (other than in accordance with its terms) or shall be declared to be null and void or any
Guarantor shall repudiate in writing its obligations thereunder (other than as a result of the discharge of such Guarantor in accordance
with the terms thereof), (ii) this Agreement or any material Security Document ceases to be in full force and effect or shall be
declared null and void (other than by reason of (x) a release of Collateral in accordance with the terms hereof or thereof or (y)
the occurrence of the Termination Date or any other termination of such Security Document in accordance with the terms thereof)
or (iii) any Loan Party shall contest in writing the validity or enforceability of any Loan Document or any material provision
of any Loan Document or deny in writing that it has any further liability (other than by reason of the occurrence of the Termination
Date), including with respect to future advances by the Lenders, under any Loan Document to which it is a party; it being understood
and agreed that the failure of the Agent to maintain possession of any Collateral actually delivered to it or file any Uniform
Commercial Code (or equivalent) continuation statement shall not result in an Event of Default under this clause (k) or
any other provision of any Loan Document; or

 

(l)          Subordination.
The Obligations ceasing or the assertion in writing by any Loan Party that the Obligations cease to constitute senior indebtedness
under the subordination provisions of any document or instrument evidencing any Junior Indebtedness or Junior Lien Indebtedness
in excess of the Threshold Amount or any such subordination provision being invalidated or otherwise ceasing, for any reason, to
be valid, binding and enforceable obligations of the parties thereto; or

 

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(m)          UK
Insolvency. (a) An Insolvency Proceeding is filed against any UK Loan Party and such Insolvency Proceeding is not a winding-up
petition which is frivolous or vexatious and is discharged, stayed or dismissed within ten (10) days after the date of its commencement
or, if earlier, the date any such petition is advertised; (b) a UK Loan Party (i) is unable or admits inability to pay its debts
as they fall due or is deemed to or declared to be unable to pay its debts under applicable law (including from Section 123(1)
of the Insolvency Act 1986 only sub-section 123(1)(e) and not sub-sections 123(1)(a) to (d)); (ii) suspends making payments on
any of its debts, (iii) by reason of actual or anticipated financial difficulties, commences negotiations with one or more of its
creditors with a view to rescheduling any of its Indebtedness, or (c) in respect of any UK Loan Party, it is proved to the satisfaction
of a court that the value of its assets is less than that its liabilities (taking into account contingent and prospective liabilities)
or a moratorium or other protection from its creditors is declared or imposed in respect of any its Indebtedness; or

 

(n)          UK
Pension Plans. The Pensions Regulator issues a Financial Support Direction or a Contribution Notice to any UK Loan Party.

 

9.           RIGHTS
AND REMEDIES.

 

9.1         Rights
and Remedies. Upon the occurrence and during the continuation of an Event of Default, Agent may, and, at the instruction
of the Required Lenders, shall, in addition to any other rights or remedies provided for hereunder or under any other Loan Document
or by applicable law, do any one or more of the following:

 

(a)          by
written notice to Borrowers, (i) declare the principal of, and any and all accrued and unpaid interest and fees in respect of,
the Loans and all other Obligations (other than the Bank Product Obligations), whether evidenced by this Agreement or by any of
the other Loan Documents to be immediately due and payable, whereupon the same shall become and be immediately due and payable
and Borrowers shall be obligated to repay all of such Obligations in full, without presentment, demand, protest, or further notice
or other requirements of any kind, all of which are hereby expressly waived by each Borrower, and (ii) direct Borrowers to provide
(and Borrowers agree that upon receipt of such notice Borrowers will provide) Letter of Credit Collateralization to Agent to be
held as security for Borrowers’ reimbursement obligations for drawings that may subsequently occur under issued and outstanding
Letters of Credit;

 

(b)          by
written notice to Borrowers, declare the Commitments terminated, whereupon the Commitments shall immediately be terminated together
with (i) any obligation of any Revolving Lender to make Revolving Loans, (ii) the obligation of the Swing Lender to make Swing
Loans, and (iii) the obligation of Issuing Bank to issue Letters of Credit; and

 

(c)          exercise
all other rights and remedies available to Agent or the Lenders under the Loan Documents, under applicable law, or in equity; provided,
that, with respect to any Event of Default resulting solely from failure of Borrowers to comply with the financial covenant set
forth in Article 7, neither Agent nor the Required Lenders may exercise the foregoing remedies in this Section 9.1
until the date that is the earlier of (i) ten (10) Business Days after the day on which financial statements are required to be
delivered for the applicable month and (ii) the date that Agent receives notice that there will not be a Curative Equity contribution
made for such month.

 

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The foregoing to the contrary notwithstanding,
upon the occurrence of any Event of Default described in Section 8.1(f) or Section 8.1(g) in relation to a US Borrower,
in addition to the remedies set forth above, without any notice to Borrowers or any other Person or any act by the Lender Group,
the US Revolver Commitments shall automatically terminate and the US Obligations (other than the Bank Product Obligations), inclusive
of the principal of, and any and all accrued and unpaid interest and fees in respect of, the US Loans and all other US Obligations
(other than the Bank Product Obligations), whether evidenced by this Agreement or by any of the other Loan Documents, shall automatically
become and be immediately due and payable and US Borrowers shall automatically be obligated to repay all of such US Obligations
in full (including US Borrowers being obligated to provide (and US Borrowers agree that they will provide) (1) Letter of Credit
Collateralization to Agent to be held as security for US Borrowers’ reimbursement obligations in respect of drawings that
may subsequently occur under issued and outstanding Letters of Credit and (2) Bank Product Collateralization to be held as security
for Holdings’ or its Subsidiaries’ obligations in respect of outstanding Bank Products), without presentment, demand,
protest, or notice or other requirements of any kind, all of which are expressly waived by Holdings, Intermediate Holdings, CP
Holdings LLC, and US Borrowers.

 

9.2         Remedies
Cumulative. The rights and remedies of the Lender Group under this Agreement, the other Loan Documents, and all other agreements
shall be cumulative. The Lender Group shall have all other rights and remedies not inconsistent herewith as provided under the
Code, by law, or in equity. No exercise by the Lender Group of one right or remedy shall be deemed an election, and no waiver —by
the Lender Group of any Event of Default shall be deemed a continuing waiver. No delay by the Lender Group shall constitute a waiver,
election, or acquiescence by it.

 

9.3         Curative
Equity.

 

(a)          At
the election of Administrative Borrower upon written notice to Agent and subject to the limitations set forth in clause (d)
below, Holdings and Borrowers may cure (and shall be deemed to have cured) an Event of Default arising out of a breach of the Fixed
Charge Coverage Ratio financial covenant set forth in Article 7 if they receive the cash proceeds of an investment of Curative
Equity within 10 Business Days after the date on which the Fixed Charge Coverage Ratio is first required to be tested pursuant
to the terms hereof.

 

(b)          Borrowers
shall promptly notify Agent of its receipt of any proceeds of Curative Equity and any investment of Curative Equity shall be in
immediately available funds.

 

(c)          Upon
delivery of a certificate by Administrative Borrower to Agent as to the amount of the proceeds of such Curative Equity and that
such amount complies with the provisions of this Section 9.3, then any Event of Default that occurred and is continuing
from a breach of the Fixed Charge Coverage Ratio shall be deemed cured with no further action required by the Required Lenders.
Prior to the date of the delivery of a certificate conforming to the requirements of this Section, any Event of Default that has
occurred as a result of a breach of the Fixed Charge Coverage Ratio shall be deemed to be continuing and, as a result, the Lenders
(including the Swing Lender and the Issuing Bank) shall have no obligation to make additional Loans or otherwise extend additional
credit hereunder. In the event Holdings and Borrowers do not cure all financial covenant violations as provided in this Section
9.3, the existing Event of Default shall continue unless waived in writing by the Required Lenders in accordance herewith.

 

(d)          Notwithstanding
anything to the contrary contained in the foregoing or this Agreement, (i) Holdings and Borrowers’ rights under this Section
9.3 may (A) be exercised not more than five (5) times during the term of this Agreement, (B) not be exercised unless in each
four fiscal quarter period, there shall be a period of two fiscal quarters in which no Curative Equity is contributed pursuant
hereto, (ii) the Curative Equity contributed in any month shall be no greater than the amount required to cause Borrowers to be
in pro forma compliance with the Fixed Charge Coverage Ratio for the applicable period, and (iii) the Curative Equity shall be
disregarded for purposes of determining EBITDA for any pricing, financial covenant based conditions or any baskets with respect
to the covenants contained in this Agreement and there shall be no pro forma reduction in Indebtedness with the proceeds of any
Curative Equity for determining compliance with the Fixed Charge Coverage Ratio or for determining any pricing, financial covenant
based conditions or baskets with respect to the covenants contained in this Agreement, in each case in the quarter in which such
Curative Equity is used.

 

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10.         WAIVERS;
INDEMNIFICATION.

 

10.1       Demand;
Protest; etc. Each Borrower waives demand, protest, notice of protest, notice of default or dishonor, notice of payment
and nonpayment, nonpayment at maturity, release, compromise, settlement, extension, or renewal of documents, instruments, chattel
paper, and guarantees at any time held by the Lender Group on which any Borrower may in any way be liable.

 

10.2       The
Lender Group’s Liability for Collateral. Each Borrower hereby agrees that: (a) so long as Agent complies with its
obligations, if any, under the Code, the Lender Group shall not in any way or manner be liable or responsible for: (i) the safekeeping
of the Collateral, (ii) any loss or damage thereto occurring or arising in any manner or fashion from any cause, (iii) any diminution
in the value thereof, or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other Person, and
(b) all risk of loss, damage, or destruction of the Collateral shall be borne by Borrowers.

 

10.3       Indemnification.
Without duplication of any amounts paid pursuant to Section 2.11(f), each Loan Party shall pay, indemnify, defend, and
hold the Agent-Related Persons, the Lender-Related Persons, and each Participant (each, an “Indemnified Person”)
harmless (to the fullest extent permitted by law) from and against any and all claims, demands, suits, actions, investigations,
proceedings, liabilities, fines, costs, penalties, and damages, and all reasonable fees and disbursements of attorneys (limited
to such fees and disbursements of attorneys of one firm of counsel for all such Indemnified Persons and one local counsel for all
such Indemnified Persons in each appropriate jurisdiction and, to the extent required by the subject matter, one specialist counsel
for each specialized area of law in each appropriate jurisdiction (and, solely in the event of an actual or perceived conflict
of interest as determined by the affected Indemnified Persons, one counsel for such affected Indemnified Persons taken as a whole),
experts, or consultants and all other costs and out-of-pocket expenses actually incurred in connection therewith or in connection
with the enforcement of this indemnification (as and when they are incurred and irrespective of whether suit is brought), at any
time asserted against, imposed upon, or incurred by any of them (a) in connection with or as a result of or related to the execution
and delivery (provided that Borrowers shall not be liable for costs and expenses (including attorneys fees) of any Lender
(other than Wells Fargo) incurred in advising, structuring, drafting, reviewing, administering or syndicating the Loan Documents),
enforcement, performance, or administration (including any restructuring or workout with respect hereto) of this Agreement, any
of the other Loan Documents, any Related Agreement or the transactions contemplated hereby or thereby or the monitoring of Holdings’
and its Subsidiaries’ compliance with the terms of the Loan Documents, (b) with respect to any actual or prospective investigation,
litigation, or proceeding related to this Agreement, any other Loan Document, any Related Agreement, the making of any Loans or
issuance of any Letters of Credit hereunder, or the use of the proceeds of the Loans or the Letters of Credit provided hereunder
(irrespective of whether any Indemnified Person is a party thereto), or any act, omission, event, or circumstance in any manner
related thereto, and (c) in connection with or arising out of any presence or release of Hazardous Materials at, on, under, to
or from any assets or properties owned, leased or operated by any Borrower or any of its Subsidiaries or any Environmental Claims,
Environmental Liabilities or Remedial Actions related in any way to any such assets or properties of any Borrower or any of its
Subsidiaries (each and all of the foregoing, the “Indemnified Liabilities”) (provided, that the foregoing
indemnifications in clauses (a) through (c) shall not extend to (i) disputes solely between or among the Lenders
that do not involve any acts or omissions of any Loan Party, or (ii) disputes solely between or among the Lenders and their respective
Affiliates that do not involve any acts or omissions of any Loan Party; it being understood and agreed that the indemnification
in such clauses shall extend to Agent (but not the Lenders) relative to disputes between or among Agent on the one hand, and one
or more Lenders, or one or more of their Affiliates, on the other hand. The foregoing to the contrary notwithstanding, no Loan
Party shall have any obligation to any Indemnified Person under this Section 10.3 with respect to any Indemnified Liability
that a court of competent jurisdiction finally determines to have resulted from the gross negligence, willful misconduct or bad
faith of such Indemnified Person or its officers, directors, employees, attorneys, or agents. This provision shall survive the
termination of this Agreement and the repayment in full of the Obligations. If any Indemnified Person makes any payment to any
other Indemnified Person with respect to an Indemnified Liability as to which Borrowers were required to indemnify the Indemnified
Person receiving such payment, the Indemnified Person making such payment is entitled to be indemnified and reimbursed by Borrowers
with respect thereto. This Section 10.3 shall not apply with respect to Taxes other than Taxes that represent losses, claims
or damages arising from any non-Tax claim. WITHOUT LIMITATION, THE FOREGOING INDEMNITY SHALL APPLY TO EACH INDEMNIFIED PERSON
WITH RESPECT TO INDEMNIFIED LIABILITIES WHICH IN WHOLE OR IN PART ARE CAUSED BY OR ARISE OUT OF ANY NEGLIGENT ACT OR OMISSION OF
SUCH INDEMNIFIED PERSON OR OF ANY OTHER PERSON.

 

    	 	95	 

     

    

 

11.         NOTICES.

 

Unless otherwise provided
in this Agreement, all notices or demands relating to this Agreement or any other Loan Document shall be in writing and (except
for financial statements and other informational documents which may be sent by first-class mail, postage prepaid) shall be personally
delivered or sent by registered or certified mail (postage prepaid, return receipt requested), overnight courier, electronic mail
(at such email addresses as a party may designate in accordance herewith), or telefacsimile. In the case of notices or demands
to any Borrower or Agent, as the case may be, they shall be sent to the respective address set forth below:

 

	If to any Borrower:	 	BRUNDAGE BONE CONCRETE PUMPING

    HOLDINGS INC.

    6461 Downing Street

    Denver, CO 80029

    Attn: Iain Humphries

    Tel. No.: (303) 289-7497

    Email: iainhumphries@brundagebone.com
	 	 	 
	with copy to (which shall not constitute notice to any Loan Party):	 	ARGAND PARTNERS LP LLC

    Club Row Building

    28 West 44th Street, Suite 501

    New York, NY 10036

    Attn: Tariq Osman

    Tel. No.: (212) 588-6470

    Email: tosman@argandequity.com
	 	 	 
	with additional copy to (which shall not constitute notice to any Loan Party):	 	WINSTON & STRAWN LLP

    200 Park Avenue

    New York, NY 10166-4193

    Attn: Peter Alfano

    Tel. No.: (212) 294-6765

    Email: palfano@winston.com

 

    	 	96	 

     

    

 

	If to Agent:	 	WELLS FARGO BANK, NATIONAL

    ASSOCIATION

    2450 Colorado Ave, Suite 3000 West

    Santa Monica, CA 90404

    Attn: Peter Aziz, Senior Vice President

    Fax No.: (866) 358-0984

    Email: Peter.Aziz@WellsFargo.com
	 	 	 
	with copies to:	 	
        MORGAN, LEWIS & BOCKIUS LLP

        300 South Grand Avenue, 22nd Floor

        Los Angeles, California 90071-3132

        Attn: Marshall Stoddard, Jr., Esq.

        Fax No: (212) 309-6001

        Email: Marshall.Stoddard@MorganLewis.com

 

Any party hereto may
change the address at which they are to receive notices hereunder, by notice in writing in the foregoing manner given to the other
party. All notices or demands sent in accordance with this Section 11, shall be deemed received on the earlier of the date
of actual receipt or 3 Business Days after the deposit thereof in the mail; provided, that (a) notices sent by overnight
courier service shall be deemed to have been given when received, (b) notices by facsimile shall be deemed to have been given when
sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening
of business on the next Business Day for the recipient) and (c) notices by electronic mail shall be deemed received upon the sender’s
receipt of an acknowledgment from the intended recipient (such as by the “return receipt requested” function, as available,
return email or other written acknowledgment).

 

12.         CHOICE
OF LAW AND VENUE; JURY TRIAL WAIVER; JUDICIAL REFERENCE PROVISION.

 

(a)          THE
VALIDITY OF THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS (UNLESS EXPRESSLY PROVIDED TO THE CONTRARY IN ANOTHER LOAN DOCUMENT IN
RESPECT OF SUCH OTHER LOAN DOCUMENT), THE CONSTRUCTION, INTERPRETATION, AND ENFORCEMENT HEREOF AND THEREOF, THE RIGHTS OF THE PARTIES
HERETO AND THERETO WITH RESPECT TO ALL MATTERS ARISING HEREUNDER OR THEREUNDER OR RELATED HERETO OR THERETO, AND ANY CLAIMS, CONTROVERSIES
OR DISPUTES ARISING HEREUNDER OR THEREUNDER OR RELATED HERETO OR THERETO SHALL BE DETERMINED UNDER, GOVERNED BY, AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK; PROVIDED THAT (I) THE INTERPRETATION OF THE DEFINITION OF “MATERIAL
ADVERSE EFFECT” (AS DEFINED IN THE CONCRETE PUMPING ACQUISITION AGREEMENT) (AND WHETHER OR NOT SUCH A MATERIAL ADVERSE EFFECT
HAS OCCURRED), (II) THE DETERMINATION OF THE ACCURACY OF ANY SPECIFIED ACQUISITION AGREEMENT REPRESENTATION AND WHETHER AS
A RESULT OF ANY INACCURACY THEREOF EITHER THAT CONCRETE MERGER SUB OR ANY OF ITS AFFILIATES HAS THE RIGHT TO TERMINATE ITS OBLIGATIONS
UNDER THE CONCRETE PUMPING ACQUISITION AGREEMENT OR TO DECLINE TO CONSUMMATE THE CONCRETE PUMPING ACQUISITION AND (III) THE
DETERMINATION OF WHETHER THE CONCRETE PUMPING ACQUISITION HAS BEEN CONSUMMATED IN ACCORDANCE WITH THE TERMS OF THE CONCRETE PUMPING
ACQUISITION AGREEMENT AND, IN ANY CASE, CLAIMS OR DISPUTES ARISING OUT OF ANY SUCH INTERPRETATION OR DETERMINATION OR ANY ASPECT
THEREOF SHALL, IN EACH CASE, BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF DELAWARE, REGARDLESS OF THE LAWS THAT
MIGHT OTHERWISE GOVERN UNDER APPLICABLE PRINCIPLES OF CONFLICTS OF LAWS THEREOF.

 

    	 	97	 

     

    

 

(b)          THE
PARTIES AGREE THAT ALL ACTIONS OR PROCEEDINGS ARISING IN CONNECTION WITH THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS SHALL BE TRIED
AND LITIGATED ONLY IN THE STATE AND, TO THE EXTENT PERMITTED BY APPLICABLE LAW, FEDERAL COURTS LOCATED IN THE COUNTY OF NEW YORK,
STATE OF NEW YORK; PROVIDED, THAT ANY SUIT SEEKING ENFORCEMENT AGAINST ANY COLLATERAL OR OTHER PROPERTY MAY BE BROUGHT,
AT AGENT’S OR UK SECURITY AGENT’S OPTION, IN THE COURTS OF ANY JURISDICTION WHERE AGENT OR UK SECURITY AGENT ELECTS
TO BRING SUCH ACTION OR WHERE SUCH COLLATERAL OR OTHER PROPERTY MAY BE FOUND. EACH OF HOLDINGS, INTERMEDIATE HOLDINGS, CP HOLDINGS
LLC, AND EACH BORROWER AND EACH MEMBER OF THE LENDER GROUP WAIVE, TO THE EXTENT PERMITTED UNDER APPLICABLE LAW, ANY RIGHT EACH
MAY HAVE TO ASSERT THE DOCTRINE OF FORUM NON CONVENIENS OR TO OBJECT TO VENUE TO THE EXTENT ANY PROCEEDING IS BROUGHT IN
ACCORDANCE WITH THIS SECTION 12(b).

 

(c)          TO
THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, EACH OF HOLDINGS, INTERMEDIATE HOLDINGS, CP HOLDINGS LLC, AND EACH BORROWER AND
EACH MEMBER OF THE LENDER GROUP HEREBY WAIVE THEIR RESPECTIVE RIGHTS, IF ANY, TO A JURY TRIAL OF ANY CLAIM, CONTROVERSY, DISPUTE
OR CAUSE OF ACTION DIRECTLY OR INDIRECTLY BASED UPON OR ARISING OUT OF ANY OF THE LOAN DOCUMENTS OR ANY OF THE TRANSACTIONS CONTEMPLATED
THEREIN, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW OR STATUTORY CLAIMS (EACH A “CLAIM”).
EACH OF HOLDINGS, INTERMEDIATE HOLDINGS, CP HOLDINGS LLC, AND EACH BORROWER AND EACH MEMBER OF THE LENDER GROUP REPRESENT THAT
EACH HAS REVIEWED THIS WAIVER AND EACH KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL
COUNSEL. IN THE EVENT OF LITIGATION, A COPY OF THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT.

 

(d)          EACH
PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS LOCATED
IN THE COUNTY OF NEW YORK AND THE STATE OF NEW YORK, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENTS,
OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR
PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED
BY LAW. NOTHING IN THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT AGENT MAY OTHERWISE HAVE TO BRING ANY
ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST ANY LOAN PARTY OR ITS PROPERTIES IN THE COURTS
OF ANY JURISDICTION.

 

    	 	98	 

     

    

 

(e)          NO
CLAIM MAY BE MADE BY ANY LOAN PARTY AGAINST AGENT, UK SECURITY AGENT, SWING LINE LENDER, ANY OTHER LENDER, ISSUING BANK, OR ANY
AFFILIATE, DIRECTOR, OFFICER, EMPLOYEE, COUNSEL, REPRESENTATIVE, AGENT, OR ATTORNEY-IN-FACT OF ANY OF THEM FOR ANY SPECIAL, INDIRECT,
CONSEQUENTIAL, PUNITIVE OR EXEMPLARY DAMAGES OR LOSSES IN RESPECT OF ANY CLAIM FOR BREACH OF CONTRACT OR ANY OTHER THEORY OF LIABILITY
ARISING OUT OF OR RELATED TO THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR ANY ACT, OMISSION,
OR EVENT OCCURRING IN CONNECTION THEREWITH, AND EACH LOAN PARTY HEREBY WAIVES, RELEASES, AND AGREES NOT TO SUE UPON ANY CLAIM FOR
SUCH DAMAGES, WHETHER OR NOT ACCRUED AND WHETHER OR NOT KNOWN OR SUSPECTED TO EXIST IN ITS FAVOR.

 

(f)          IN
THE EVENT ANY LEGAL PROCEEDING IS FILED IN A COURT OF THE STATE OF CALIFORNIA (THE “COURT”) BY OR AGAINST ANY
PARTY HERETO IN CONNECTION WITH ANY CLAIM AND THE WAIVER SET FORTH IN CLAUSE (C) ABOVE IS NOT ENFORCEABLE IN SUCH PROCEEDING,
THE PARTIES HERETO AGREE AS FOLLOWS:

 

(i)          WITH
THE EXCEPTION OF THE MATTERS SPECIFIED IN SUBCLAUSE (ii) BELOW, ANY CLAIM SHALL BE DETERMINED BY A GENERAL REFERENCE PROCEEDING
IN ACCORDANCE WITH THE PROVISIONS OF CALIFORNIA CODE OF CIVIL PROCEDURE SECTIONS 638 THROUGH 645.1. THE PARTIES INTEND THIS GENERAL
REFERENCE AGREEMENT TO BE SPECIFICALLY ENFORCEABLE. VENUE FOR THE REFERENCE PROCEEDING SHALL BE IN THE COUNTY OF LOS ANGELES, CALIFORNIA.

 

(ii)         THE
FOLLOWING MATTERS SHALL NOT BE SUBJECT TO A GENERAL REFERENCE PROCEEDING: (A) NON-JUDICIAL FORECLOSURE OF ANY SECURITY INTERESTS
IN REAL OR PERSONAL PROPERTY, (B) EXERCISE OF SELF-HELP REMEDIES (INCLUDING SET-OFF OR RECOUPMENT), (C) APPOINTMENT OF A RECEIVER,
AND (D) TEMPORARY, PROVISIONAL, OR ANCILLARY REMEDIES (INCLUDING WRITS OF ATTACHMENT, WRITS OF POSSESSION, TEMPORARY RESTRAINING
ORDERS, OR PRELIMINARY INJUNCTIONS). THIS AGREEMENT DOES NOT LIMIT THE RIGHT OF ANY PARTY TO EXERCISE OR OPPOSE ANY OF THE RIGHTS
AND REMEDIES DESCRIBED IN CLAUSES (A) - (D) AND ANY SUCH EXERCISE OR OPPOSITION DOES NOT WAIVE THE RIGHT OF ANY PARTY
TO PARTICIPATE IN A REFERENCE PROCEEDING PURSUANT TO THIS AGREEMENT WITH RESPECT TO ANY OTHER MATTER.

 

(iii)        UPON
THE WRITTEN REQUEST OF ANY PARTY, THE PARTIES SHALL SELECT A SINGLE REFEREE, WHO SHALL BE A RETIRED JUDGE OR JUSTICE. IF THE PARTIES
DO NOT AGREE UPON A REFEREE WITHIN 10 DAYS OF SUCH WRITTEN REQUEST, THEN, ANY PARTY SHALL HAVE THE RIGHT TO REQUEST THE COURT TO
APPOINT A REFEREE PURSUANT TO CALIFORNIA CODE OF CIVIL PROCEDURE SECTION 640(B). THE REFEREE SHALL BE APPOINTED TO SIT WITH ALL
OF THE POWERS PROVIDED BY LAW. PENDING APPOINTMENT OF THE REFEREE, THE COURT SHALL HAVE THE POWER TO ISSUE TEMPORARY OR PROVISIONAL
REMEDIES.

 

    	 	99	 

     

    

 

(iv)        EXCEPT
AS EXPRESSLY SET FORTH IN THIS AGREEMENT, THE REFEREE SHALL DETERMINE THE MANNER IN WHICH THE REFERENCE PROCEEDING IS CONDUCTED
INCLUDING THE TIME AND PLACE OF HEARINGS, THE ORDER OF PRESENTATION OF EVIDENCE, AND ALL OTHER QUESTIONS THAT ARISE WITH RESPECT
TO THE COURSE OF THE REFERENCE PROCEEDING. ALL PROCEEDINGS AND HEARINGS CONDUCTED BEFORE THE REFEREE, EXCEPT FOR TRIAL, SHALL BE
CONDUCTED WITHOUT A COURT REPORTER, EXCEPT WHEN ANY PARTY SO REQUESTS A COURT REPORTER AND A TRANSCRIPT IS ORDERED, A COURT REPORTER
SHALL BE USED AND THE REFEREE SHALL BE PROVIDED A COURTESY COPY OF THE TRANSCRIPT. THE PARTY MAKING SUCH REQUEST SHALL HAVE THE
OBLIGATION TO ARRANGE FOR AND PAY THE COSTS OF THE COURT REPORTER; PROVIDED THAT SUCH COSTS, ALONG WITH THE REFEREE’S FEES,
SHALL ULTIMATELY BE BORNE BY THE PARTY WHO DOES NOT PREVAIL, AS DETERMINED BY THE REFEREE.

 

(v)         THE
REFEREE MAY REQUIRE ONE OR MORE PREHEARING CONFERENCES. THE PARTIES HERETO SHALL BE ENTITLED TO DISCOVERY, AND THE REFEREE SHALL
OVERSEE DISCOVERY IN ACCORDANCE WITH THE RULES OF DISCOVERY, AND SHALL ENFORCE ALL DISCOVERY ORDERS IN THE SAME MANNER AS ANY TRIAL
COURT JUDGE IN PROCEEDINGS AT LAW IN THE STATE OF CALIFORNIA.

 

(vi)        THE
REFEREE SHALL APPLY THE RULES OF EVIDENCE APPLICABLE TO PROCEEDINGS AT LAW IN THE STATE OF CALIFORNIA AND SHALL DETERMINE ALL ISSUES
IN ACCORDANCE WITH CALIFORNIA SUBSTANTIVE AND PROCEDURAL LAW. THE REFEREE SHALL BE EMPOWERED TO ENTER EQUITABLE AS WELL AS LEGAL
RELIEF AND RULE ON ANY MOTION WHICH WOULD BE AUTHORIZED IN A TRIAL, INCLUDING MOTIONS FOR DEFAULT JUDGMENT OR SUMMARY JUDGMENT.
THE REFEREE SHALL REPORT HIS OR HER DECISION, WHICH REPORT SHALL ALSO INCLUDE FINDINGS OF FACT AND CONCLUSIONS OF LAW. THE REFEREE
SHALL ISSUE A DECISION AND PURSUANT TO CALIFORNIA CODE OF CIVIL PROCEDURE, SECTION 644, THE REFEREE’S DECISION SHALL BE ENTERED
BY THE COURT AS A JUDGMENT IN THE SAME MANNER AS IF THE ACTION HAD BEEN TRIED BY THE COURT. THE FINAL JUDGMENT OR ORDER FROM ANY
APPEALABLE DECISION OR ORDER ENTERED BY THE REFEREE SHALL BE FULLY APPEALABLE AS IF IT HAS BEEN ENTERED BY THE COURT.

 

(vii)       THE
PARTIES RECOGNIZE AND AGREE THAT ALL CLAIMS RESOLVED IN A GENERAL REFERENCE PROCEEDING PURSUANT HERETO WILL BE DECIDED BY A REFEREE
AND NOT BY A JURY. AFTER CONSULTING (OR HAVING HAD THE OPPORTUNITY TO CONSULT) WITH COUNSEL OF THEIR OWN CHOICE, EACH PARTY HERETO
KNOWINGLY AND VOLUNTARILY AND FOR THEIR MUTUAL BENEFIT AGREES THAT THIS REFERENCE PROVISION SHALL APPLY TO ANY DISPUTE BETWEEN
THEM THAT ARISES OUT OF OR IS RELATED TO THIS AGREEMENT OR THE OTHER LOAN DOCUMENTS.

 

13.         ASSIGNMENTS
AND PARTICIPATIONS; SUCCESSORS.

 

13.1       Assignments
and Participations.

 

(a)          (i)
Subject to the conditions set forth in clause (a)(ii) below, any Lender may assign and delegate all or any portion of its
rights and duties under the Loan Documents (including the Obligations owed to it and its Commitments) to one or more assignees
so long as such prospective assignee is an Eligible Transferee (each, an “Assignee”), with the prior written
consent (such consent not be unreasonably withheld or delayed) of:

 

    	 	100	 

     

    

 

(A)         Administrative
Borrower; provided, that no consent of Administrative Borrower shall be required (1) if an Event of Default has occurred
and is continuing, or (2) in connection with an assignment to a Person that is a Lender or an Affiliate (other than natural persons)
of a Lender; provided further, that Borrowers shall be deemed to have consented to a proposed assignment unless they object
thereto by written notice to Agent within 5 Business Days after having received notice thereof; and

 

(B)         Agent,
Swing Lender, and Issuing Bank.

 

(ii)         Assignments
shall be subject to the following additional conditions:

 

(A)        no
assignment may be made to a natural person,

 

(B)         no
assignment may be made to a Loan Party, an Affiliate of a Loan Party or any Sponsor Affiliated Entity,

 

(C)         no
assignment may be made to a Disqualified Institution unless a Specified Event of Default of the type referred to in clause (a),
(d) or (e) of the definition thereof has occurred and is continuing,

 

(D)         the
amount of the Commitments and the other rights and obligations of the assigning Lender hereunder and under the other Loan Documents
subject to each such assignment (determined as of the date the Assignment and Acceptance with respect to such assignment is delivered
to Agent) shall be in a minimum amount (unless waived by Agent) of $5,000,000 (except such minimum amount shall not apply to (I)
an assignment or delegation by any Lender to any other Lender, an Affiliate of any Lender, or a Related Fund of such Lender or
(II) a group of new Lenders, each of which is an Affiliate of each other or a Related Fund of such new Lender to the extent that
the aggregate amount to be assigned to all such new Lenders is at least $5,000,000),

 

(E)         each
partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations
under this Agreement,

 

(F)          the
parties to each assignment shall execute and deliver to Agent an Assignment and Acceptance; provided, that Borrowers and
Agent may continue to deal solely and directly with the assigning Lender in connection with the interest so assigned to an Assignee
until written notice of such assignment, together with payment instructions, addresses, and related information with respect to
the Assignee, have been given to Borrowers and Agent by such Lender and the Assignee,

 

(G)         unless
waived by Agent, the assigning Lender or Assignee has paid to Agent, for Agent’s separate account, a processing fee in the
amount of $3,500, and

 

(H)         the
assignee, if it is not a Lender, shall deliver to Agent an Administrative Questionnaire in a form approved by Agent (the “Administrative
Questionnaire”).

 

Notwithstanding anything
contained herein to the contrary, no assignment may be made unless after giving effect thereto (i) the Pro Rata Share of the US
Revolver Commitment of a Lender and its Affiliates shall equal the Pro Rata Share of the UK Revolver Commitments of such Lender
and its Affiliates and (ii) the Pro Rata Share of the UK Revolver Commitments of a Lender and its Affiliates shall equal the Pro
Rata Share of the US Revolver Commitments of such Lender and its Affiliates.

 

    	 	101	 

     

    

 

(b)         From
and after the date that Agent receives the executed Assignment and Acceptance and, if applicable, payment of the required processing
fee, subject to Section 13.1(h), (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and
obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall be a “Lender” and
shall have the rights and obligations of a Lender under the Loan Documents, and (ii) the assigning Lender shall, to the extent
that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and
Acceptance, relinquish its rights (except with respect to Section 10.3) and be released from any future obligations under
this Agreement (and in the case of an Assignment and Acceptance covering all or the remaining portion of an assigning Lender’s
rights and obligations under this Agreement and the other Loan Documents, such Lender shall cease to be a party hereto and thereto);
provided, that nothing contained herein shall release any assigning Lender from obligations that survive the termination
of this Agreement, including such assigning Lender’s obligations under Section 15 and Section 17.9(a).

 

(c)          By
executing and delivering an Assignment and Acceptance, the assigning Lender thereunder and the Assignee thereunder confirm to and
agree with each other and the other parties hereto as follows: (i) other than as provided in such Assignment and Acceptance, such
assigning Lender makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or
representations made in or in connection with this Agreement or the execution, legality, validity, enforceability, genuineness,
sufficiency or value of this Agreement or any other Loan Document furnished pursuant hereto, (ii) such assigning Lender makes no
representation or warranty and assumes no responsibility with respect to the financial condition of any Borrower or the performance
or observance by any Borrower of any of its obligations under this Agreement or any other Loan Document furnished pursuant hereto,
(iii) such Assignee confirms that it has received a copy of this Agreement, together with such other documents and information
as it has deemed appropriate to make its own credit analysis and decision to enter into such Assignment and Acceptance, (iv) such
Assignee will, independently and without reliance upon Agent, such assigning Lender or any other Lender, and based on 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 this Agreement, (v) such Assignee appoints and authorizes Agent to take such actions and to exercise such powers under this
Agreement and the other Loan Documents as are delegated to Agent, by the terms hereof and thereof, together with such powers as
are reasonably incidental thereto, and (vi) such Assignee agrees that it will perform all of the obligations which by the terms
of this Agreement are required to be performed by it as a Lender.

 

(d)          Immediately
upon Agent’s receipt of the required processing fee, if applicable, and delivery of notice to the assigning Lender pursuant
to Section 13.1(b), this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect
the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitment allocated to each
Assignee shall reduce such Commitments of the assigning Lender pro tanto.

 

    	 	102	 

     

    

 

(e)          Any
Lender may at any time sell to one or more commercial banks, financial institutions, or other Persons (a “Participant”)
participating interests in all or any portion of its Obligations, its Commitment, and the other rights and interests of that Lender
(the “Originating Lender”) hereunder and under the other Loan Documents; provided, that (i) the Originating
Lender shall remain a “Lender” for all purposes of this Agreement and the other Loan Documents and the Participant
receiving the participating interest in the Obligations, the Commitments, and the other rights and interests of the Originating
Lender hereunder shall not constitute a “Lender” hereunder or under the other Loan Documents and the Originating Lender’s
obligations under this Agreement shall remain unchanged, (ii) the Originating Lender shall remain solely responsible for the performance
of such obligations, (iii) Borrowers, Agent, and the Lenders shall continue to deal solely and directly with the Originating Lender
in connection with the Originating Lender’s rights and obligations under this Agreement and the other Loan Documents, (iv)
no Lender shall transfer or grant any participating interest under which the Participant has the right to approve any amendment
to, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment to,
or consent or waiver with respect to this Agreement or of any other Loan Document would (A) extend the final maturity date of the
Obligations hereunder in which such Participant is participating, (B) reduce the interest rate applicable to the Obligations hereunder
in which such Participant is participating, (C) release all or substantially all of the Collateral or guaranties (except to the
extent expressly provided herein or in any of the Loan Documents) supporting the Obligations hereunder in which such Participant
is participating, (D) postpone the payment of, or reduce the amount of, the interest or fees payable to such Participant through
such Lender (other than a waiver of default interest), or (E) decreases the amount or postpones the due dates of scheduled principal
repayments or prepayments or premiums payable to such Participant through such Lender, (v) no participation shall be sold to a
natural person, (vi) no participation shall be sold to a Loan Party, an Affiliate of a Loan Party, or any Sponsor Affiliated Entity,
and (vii) except as provided below, all amounts payable by Borrowers hereunder shall be determined as if such Lender had not sold
such participation, except that, if amounts outstanding under this Agreement 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 be deemed to have the right
of set off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of
its participating interest were owing directly to it as a Lender under this Agreement. The rights of any Participant only shall
be derivative through the Originating Lender with whom such Participant participates and no Participant shall have any rights under
this Agreement or the other Loan Documents, or any direct rights as to the other Lenders, Agent, Borrowers, the Collateral, or
otherwise in respect of the Obligations. No Participant shall have the right to participate directly in the making of decisions
by the Lenders among themselves.

 

(f)          In
connection with any such assignment or participation or proposed assignment or participation or any grant of a security interest
in, or pledge of, its rights under and interest in this Agreement, a Lender may, subject to the provisions of Section 17.9,
disclose all documents and information which it now or hereafter may have relating to Holdings and its Subsidiaries and their respective
businesses.

 

(g)          Any
other provision in this Agreement notwithstanding, any Lender may at any time create a security interest in, or pledge, all or
any portion of its rights under and interest in this Agreement to secure obligations of such Lender, including any pledge in favor
of any Federal Reserve Bank in accordance with Regulation A of the Federal Reserve Bank or US Treasury Regulation 31 CFR §203.24,
and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law; provided
that no such pledge shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee
for such Lender as a party hereto.

 

    	 	103	 

     

    

 

(h)          Agent
(as a non-fiduciary agent on behalf of Borrowers) shall maintain, or cause to be maintained, a register (the “Register”)
on which it enters the name and address of each Lender as the registered owner of the Revolving Loans (and the principal amount
thereof and stated interest thereon) held by such Lender (each, a “Registered Loan”). Other than in connection
with an assignment by a Lender of all or any portion of its portion of the Revolving Loans to an Affiliate of such Lender or a
Related Fund of such Lender (i) a Registered Loan (and the registered note, if any, evidencing the same) may be assigned or sold
in whole or in part only by registration of such assignment or sale on the Register (and each registered note shall expressly so
provide) and (ii) any assignment or sale of all or part of such Registered Loan (and the registered note, if any, evidencing the
same) may be effected only by registration of such assignment or sale on the Register, together with the surrender of the registered
note, if any, evidencing the same duly endorsed by (or accompanied by a written instrument of assignment or sale duly executed
by) the holder of such registered note, whereupon, at the request of the designated assignee(s) or transferee(s), one or more new
registered notes in the same aggregate principal amount shall be issued to the designated assignee(s) or transferee(s). Prior to
the registration of assignment or sale of any Registered Loan (and the registered note, if any evidencing the same), Borrowers
shall treat the Person in whose name such Registered Loan (and the registered note, if any, evidencing the same) is registered
as the owner thereof for the purpose of receiving all payments thereon and for all other purposes, notwithstanding notice to the
contrary. In the case of any assignment by a Lender of all or any portion of its Revolving Loans to an Affiliate of such Lender
or a Related Fund of such Lender, and which assignment is not recorded in the Register, the assigning Lender, on behalf of the
Borrowers, shall maintain a register comparable to the Register.

 

(i)          In
the event that a Lender sells participations in the Registered Loan, such Lender, as a non-fiduciary agent on behalf of Borrowers,
shall maintain (or cause to be maintained) a register on which it enters the name of all participants in the Registered Loans held
by it (and the principal amount (and stated interest thereon) of the portion of such Registered Loans that is subject to such participations)
(the “Participant Register”). A Registered Loan (and the registered note, if any, evidencing the same) may be
participated in whole or in part only by registration of such participation on the Participant Register (and each registered note
shall expressly so provide). Any participation of such Registered Loan (and the registered note, if any, evidencing the same) may
be effected only by the registration of such participation on the Participant Register. No Lender shall have any obligation to
disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating
to a Participant’s interest in any commitments, loans, letters of credit or its other obligations under any Loan Document)
to any Person except to the extent that such disclosure is necessary to establish that such commitment, loan, letter of credit
or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the
Participant Register shall be conclusive absent manifest error, and such Lender shall treat each person whose name is recorded
in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to
the contrary. For the avoidance of doubt, Agent (in its capacity as Agent) shall have no responsibility for maintaining a Participant
Register.

 

(j)          Agent
shall make a copy of the Register (and each Lender shall make a copy of its Participant Register to the extent it has one) available
for review by Borrowers from time to time as Borrowers may reasonably request.

 

13.2       Successors.
This Agreement shall bind and inure to the benefit of the respective successors and assigns of each of the parties; provided,
that no Borrower may assign this Agreement or any rights or duties hereunder without the Lenders’ prior written consent and
any prohibited assignment shall be absolutely void ab initio. No consent to assignment by the Lenders shall release any
Borrower from its Obligations. A Lender may assign this Agreement and the other Loan Documents and its rights and duties hereunder
and thereunder pursuant to Section 13.1 and, except as expressly required pursuant to Section 13.1, no consent or
approval by any Borrower is required in connection with any such assignment.

 

14.         AMENDMENTS;
WAIVERS.

 

14.1       Amendments
and Waivers.

 

(a)          No
amendment, waiver or other modification of any provision of this Agreement or any other Loan Document (other than Bank Product
Agreements or the Fee Letter), and no consent with respect to any departure by any Borrower therefrom, shall be effective unless
the same shall be in writing and signed by the Required Lenders (or by Agent at the written request of the Required Lenders) and
the Loan Parties that are party thereto and then any such waiver or consent shall be effective, but only in the specific instance
and for the specific purpose for which given; provided, that no such waiver, amendment, or consent shall, unless in writing
and signed by all of the Lenders directly affected thereby and all of the Loan Parties that are party thereto, do any of the following:

 

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(i)          increase
the amount of or extend the expiration date of any Commitment of any Lender or amend, modify, or eliminate the last sentence of
Section 2.4(c),

 

(ii)         postpone
or delay any date fixed by this Agreement or any other Loan Document for any payment of principal, interest, fees, or other amounts
due hereunder or under any other Loan Document,

 

(iii)        reduce
the principal of, or the rate of interest on, any loan or other extension of credit hereunder, or reduce any fees or other amounts
payable hereunder or under any other Loan Document (except (y) in connection with the waiver of applicability of Section 2.6(c)
(which waiver shall be effective with the written consent of the Required Lenders), and (z) that any amendment or modification
of defined terms used in the financial covenant in this Agreement shall not constitute a reduction in the rate of interest or a
reduction of fees for purposes of this clause (iii)),

 

(iv)        amend,
modify, or eliminate this Section or any provision of this Agreement providing for consent or other action by all Lenders,

 

(v)         amend,
modify, or eliminate Section 3.1 or 3.2,

 

(vi)        amend,
modify, or eliminate Section 15.11,

 

(vii)       other
than as permitted by Section 15.11, release Agent’s Lien in and to any of the Collateral,

 

(viii)      amend,
modify, or eliminate the definitions of “Required Lenders” or “Pro Rata Share”,

 

(ix)        contractually
release or contractually subordinate any of Agent’s Liens,

 

(x)          other
than in connection with a merger, liquidation, dissolution or sale of such Person expressly permitted by the terms hereof or the
other Loan Documents, release any Borrower or any Guarantor from any obligation for the payment of money or consent to the assignment
or transfer by any Borrower or any Guarantor of any of its rights or duties under this Agreement or the other Loan Documents,

 

(xi)         amend,
modify, or eliminate any of the provisions of Section 2.4(b)(i) or (ii) or Section 2.4(e) or (f), or

 

(xii)        amend,
modify, or eliminate any of the provisions of Section 13.1 with respect to assignments to, or participations with, Persons
who are Loan Parties, Affiliates of a Loan Party, or Sponsor Affiliated Entities.

 

(b)         No
amendment, waiver, modification, or consent shall amend, modify, waive, or eliminate,

 

    	 	105	 

     

    

 

(i)          the
definition of, or any of the terms or provisions of, the Fee Letter, without the written consent of Agent and Borrowers (and shall
not require the written consent of any of the Lenders),

 

(ii)         any
provision of Section 15 pertaining to Agent, or any other rights or duties of Agent under this Agreement or the other Loan
Documents, without the written consent of Agent, Borrowers, and the Required Lenders;

 

(c)         No
amendment, waiver, modification, elimination, or consent shall, without written consent of Agent, Borrowers and the Supermajority
Lenders, amend, modify, or eliminate the definition of Aggregate Borrowing Base, UK Borrowing Base, US Borrowing Base or any of
the defined terms (including the definitions of Eligible Accounts or Eligible Rolling Stock Collateral) that are used in such definition
to the extent that any such change results in more credit being made available to Borrowers based upon the Borrowing Base, but
not otherwise, or the definition of Maximum Revolver Amount, US Maximum Revolver Amount, or UK Maximum Revolver Amount, or change
Section 2.1(e);

 

(d)         No
amendment, waiver, modification, elimination, or consent shall amend, modify, or waive any provision of this Agreement or the other
Loan Documents pertaining to Issuing Bank, or any other rights or duties of Issuing Bank under this Agreement or the other Loan
Documents, without the written consent of Issuing Bank, Agent, Borrowers, and the Required Lenders;

 

(e)          No
amendment, waiver, modification, elimination, or consent shall amend, modify, or waive any provision of this Agreement or the other
Loan Documents pertaining to Swing Lender, or any other rights or duties of Swing Lender under this Agreement or the other Loan
Documents, without the written consent of Swing Lender, Agent, Borrowers, and the Required Lenders; and

 

(f)          Anything
in this Section 14.1 to the contrary notwithstanding, (i) any amendment, modification, elimination, waiver, consent, termination,
or release of, or with respect to, any provision of this Agreement or any other Loan Document that relates only to the relationship
of the Lender Group among themselves, and that does not affect the rights or obligations of Holdings or any Borrower, shall not
require consent by or the agreement of any Loan Party, and (ii) any amendment, waiver, modification, elimination, or consent of
or with respect to any provision of this Agreement or any other Loan Document may be entered into without the consent of, or over
the objection of, any Defaulting Lender other than any of the matters governed by Section 14.1(a)(i) through (iii)
that affect such Lender.

 

14.2       Replacement
of Certain Lenders.

 

(a)          If
(i) any action to be taken by the Lender Group or Agent hereunder requires the consent, authorization, or agreement of all Lenders
or all Lenders affected thereby and if such action has received the consent, authorization, or agreement of the Required Lenders
but not of all Lenders or all Lenders affected thereby, or (ii) any Lender makes a claim for compensation under Section 16,
then Borrowers or Agent, upon at least five (5) Business Days prior irrevocable notice, may permanently replace any Lender that
failed to give its consent, authorization, or agreement (a “Non-Consenting Lender”) or any Lender that made
a claim for compensation (a “Tax Lender”) with one or more Replacement Lenders, and the Non-Consenting Lender
or Tax Lender, as applicable, shall have no right to refuse to be replaced hereunder. Such notice to replace the Non-Consenting
Lender or Tax Lender, as applicable, shall specify an effective date for such replacement, which date shall not be later than fifteen
(15) Business Days after the date such notice is given.

 

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(b)         Prior
to the effective date of such replacement, the Non-Consenting Lender or Tax Lender, as applicable, and each Replacement Lender
shall execute and deliver an Assignment and Acceptance, subject only to the Non-Consenting Lender or Tax Lender, as applicable,
being repaid in full its share of the outstanding Obligations (without any premium or penalty of any kind whatsoever, but including
(i) all interest, fees and other amounts that may be due in payable in respect thereof, (ii) an assumption of its Pro Rata Share
of participations in the Letters of Credit, and (iii) Funding Losses). If the Non-Consenting Lender or Tax Lender, as applicable,
shall refuse or fail to execute and deliver any such Assignment and Acceptance prior to the effective date of such replacement,
Agent may, but shall not be required to, execute and deliver such Assignment and Acceptance in the name or and on behalf of the
Non-Consenting Lender or Tax Lender, as applicable, and irrespective of whether Agent executes and delivers such Assignment and
Acceptance, the Non-Consenting Lender or Tax Lender, as applicable, shall be deemed to have executed and delivered such Assignment
and Acceptance. The replacement of any Non-Consenting Lender or Tax Lender, as applicable, shall be made in accordance with the
terms of Section 13.1. Until such time as one or more Replacement Lenders shall have acquired all of the Obligations, the
Commitments, and the other rights and obligations of the Non-Consenting Lender or Tax Lender, as applicable, hereunder and under
the other Loan Documents, the Non-Consenting Lender or Tax Lender, as applicable, shall remain obligated to make the Non-Consenting
Lender’s or Tax Lender’s, as applicable, Pro Rata Share of Revolving Loans and to purchase a participation in each
Letter of Credit, in an amount equal to its Pro Rata Share of participations in such Letters of Credit.

 

14.3       No
Waivers; Cumulative Remedies. No failure by Agent or any Lender to exercise any right, remedy, or option under this Agreement
or any other Loan Document, or delay by Agent or any Lender in exercising the same, will operate as a waiver thereof. No waiver
by Agent or any Lender will be effective unless it is in writing, and then only to the extent specifically stated. No waiver by
Agent or any Lender on any occasion shall affect or diminish Agent’s and each Lender’s rights thereafter to require
strict performance by Holdings, Intermediate Holdings, CP Holdings LLC, Borrowers, and the other Loan Parties of any provision
of this Agreement. Agent’s and each Lender’s rights under this Agreement and the other Loan Documents will be cumulative
and not exclusive of any other right or remedy that Agent or any Lender may have.

 

15.         AGENT;
UK SECURITY AGENT; THE LENDER GROUP.

 

15.1       Appointment
and Authorization of Agent and UK Security Agent. Each Lender hereby designates and appoints Wells Fargo as its agent under
this Agreement and the other Loan Documents and each Lender hereby irrevocably authorizes (and by entering into a Bank Product
Agreement, each Bank Product Provider shall be deemed to designate, appoint, and authorize) Agent to execute and deliver each of
the other Loan Documents on its behalf and to take such other action on its behalf under the provisions of this Agreement and each
other Loan Document and to exercise such powers and perform such duties as are expressly delegated to Agent by the terms of this
Agreement or any other Loan Document, together with such powers as are reasonably incidental thereto. Agent agrees to act as agent
and security agent, as applicable, for and on behalf of the Lenders (and the Bank Product Providers), respectively on the conditions
contained in this Section 15. Any provision to the contrary contained elsewhere in this Agreement or in any other Loan Document
notwithstanding, neither Agent nor UK Security Agent shall have any duties or responsibilities, except those expressly set forth
herein or in the other Loan Documents, nor shall Agent or UK Security Agent have or be deemed to have any fiduciary relationship
with any Lender (or Bank Product Provider), and no implied covenants, functions, responsibilities, duties, obligations or liabilities
shall be read into this Agreement or any other Loan Document or otherwise exist against Agent or UK Security Agent. Without limiting
the generality of the foregoing, the use of the term “agent” in this Agreement or the other Loan Documents with reference
to Agent or UK Security Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under
agency doctrine of any applicable law. Instead, such term is used merely as a matter of market custom, and is intended to create
or reflect only a representative relationship between independent contracting parties. Each Lender hereby further authorizes (and
by entering into a Bank Product Agreement, each Bank Product Provider shall be deemed to authorize) Agent or UK Security Agent,
as applicable, to act as the secured party under each of the Loan Documents that create a Lien on any item of Collateral. Except
as expressly otherwise provided in this Agreement, Agent and UK Security Agent, as applicable, shall have and may use its sole
discretion with respect to exercising or refraining from exercising any discretionary rights or taking or refraining from taking
any actions that Agent or UK Security Agent expressly is entitled to take or assert under or pursuant to this Agreement and the
other Loan Documents. Without limiting the generality of the foregoing, or of any other provision of the Loan Documents that provides
rights or powers to Agent or UK Security Agent, Lenders agree that Agent or UK Security Agent shall have the right to exercise
the following powers as long as this Agreement remains in effect: (a) maintain, in accordance with its customary business practices,
ledgers and records reflecting the status of the Obligations, the Collateral, payments and proceeds of Collateral, and related
matters, (b) execute or file any and all financing or similar statements or notices, amendments, renewals, supplements, documents,
instruments, proofs of claim, notices and other written agreements with respect to the Loan Documents, or to take any other action
with respect to any Collateral or Loan Documents which may be necessary to perfect, and maintain perfected, the security interests
and Liens upon Collateral pursuant to the Loan Documents, (c) make Revolving Loans, for itself or on behalf of Lenders, as provided
in the Loan Documents, (d) exclusively receive, apply, and distribute payments and proceeds of the Collateral as provided in the
Loan Documents, (e) open and maintain such bank accounts and cash management arrangements as Agent deems necessary and appropriate
in accordance with the Loan Documents for the foregoing purposes, (f) perform, exercise, and enforce any and all other rights and
remedies of the Lender Group with respect to any Loan Party or its Subsidiaries, the Obligations, the Collateral, or otherwise
related to any of same as provided in the Loan Documents, and (g) incur and pay such Lender Group Expenses as Agent or UK Security
Agent may deem necessary or appropriate for the performance and fulfillment of its functions and powers pursuant to the Loan Documents.

 

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15.2       Delegation
of Duties. Agent and UK Security Agent may execute any of its duties under this Agreement or any other Loan Document by
or through agents, employees or attorneys in fact and shall be entitled to advice of counsel concerning all matters pertaining
to such duties. Neither Agent nor UK Security Agent shall be responsible for the negligence or misconduct of any agent or attorney
in fact that it selects as long as such selection was made without gross negligence or willful misconduct.

 

15.3       Liability
of Agent. None of the Agent-Related Persons shall (a) be liable for any action taken or omitted to be taken by any of them
under or in connection with this Agreement or any other Loan Document or the transactions contemplated hereby (except for its own
gross negligence or willful misconduct), or (b) be responsible in any manner to any of the Lenders (or Bank Product Providers)
for any recital, statement, representation or warranty made by any Loan Party or any of its Subsidiaries or Affiliates, or any
officer or director thereof, contained in this Agreement or in any other Loan Document, or in any certificate, report, statement
or other document referred to or provided for in, or received by Agent under or in connection with, this Agreement or any other
Loan Document, or the validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document,
or for any failure of any Loan Party or its Subsidiaries or any other party to any Loan Document to perform its obligations hereunder
or thereunder. No Agent-Related Person shall be under any obligation to any Lenders (or Bank Product Providers) to ascertain or
to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other
Loan Document, or to inspect the books and records or properties of any Loan Party or its Subsidiaries. No Agent-Related Person
shall have any liability to any Lender, and Loan Party or any of their respective Affiliates if any request for a Loan, Letter
of credit or other extension of credit was not authorized by the applicable Borrower. Neither Agent nor UK Security Agent shall
be required to take any action that, in its opinion or in the opinion of its counsel, may expose it to liability or that is contrary
to any Loan Document or applicable law or regulation.

 

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15.4       Reliance
by Agent and UK Security Agent. Agent and UK Security Agent shall be entitled to rely, and shall be fully protected in
relying, upon any writing, resolution, notice, consent, certificate, affidavit, letter, telegram, telefacsimile or other electronic
method of transmission, telex or telephone message, statement or other document or conversation believed by it to be genuine and
correct and to have been signed, sent, or made by the proper Person or Persons, and upon advice and statements of legal counsel
(including counsel to Borrowers or counsel to any Lender), independent accountants and other experts selected by Agent. Agent and
UK Security Agent shall each be fully justified in failing or refusing to take any action under this Agreement or any other Loan
Document unless Agent or UK Security Agent, as applicable, shall first receive such advice or concurrence of the Lenders as it
deems appropriate and until such instructions are received, Agent or UK Security Agent, as applicable, shall act, or refrain from
acting, as it deems advisable. If Agent or UK Security Agent, as applicable, so requests, it shall first be indemnified to its
reasonable satisfaction by the Lenders (and, if it so elects, the Bank Product Providers) against any and all liability and expense
that may be incurred by it by reason of taking or continuing to take any such action. Agent and UK Security Agent shall in all
cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Loan Document in accordance
with a request or consent of the Required Lenders and such request and any action taken or failure to act pursuant thereto shall
be binding upon all of the Lenders (and Bank Product Providers).

 

15.5       Notice
of Default or Event of Default. Neither Agent nor UK Security Agent shall be deemed to have knowledge or notice of the
occurrence of any Default or Event of Default, except in the case of Agent with respect to defaults in the payment of principal,
interest, fees, and expenses required to be paid to Agent for the account of the Lenders and, except with respect to Events of
Default of which Agent has actual knowledge, unless Agent shall have received written notice from a Lender or Borrowers referring
to this Agreement, describing such Default or Event of Default, and stating that such notice is a “notice of default.”
Agent promptly will notify the Lenders of its receipt of any such notice or of any Event of Default of which Agent has actual knowledge.
If any Lender obtains actual knowledge of any Event of Default, such Lender promptly shall notify the other Lenders and Agent of
such Event of Default. Each Lender shall be solely responsible for giving any notices to its Participants, if any. Subject to Section
15.4, Agent and UK Security Agent shall take such action with respect to such Default or Event of Default as may be requested
by the Required Lenders in accordance with Section 9; provided, that unless and until Agent or UK Security Agent,
as applicable, has received any such request, Agent or UK Security 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.

 

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15.6       Credit
Decision. Each Lender (and Bank Product Provider) acknowledges that none of the Agent-Related Persons has made any representation
or warranty to it, and that no act by any Agent-Related Person hereinafter taken, including any review of the affairs of any Loan
Party and its Subsidiaries or Affiliates, shall be deemed to constitute any representation or warranty by any Agent-Related Person
to any Lender (or Bank Product Provider). Each Lender represents (and by entering into a Bank Product Agreement, each Bank Product
Provider shall be deemed to represent) to Agent and UK Security Agent that it has, independently and without reliance upon any
Agent-Related Person and based on such due diligence, documents and information as it has deemed appropriate, made its own appraisal
of, and investigation into the business, prospects, operations, property, financial and other condition and creditworthiness of
each Borrower or any other Person party to a Loan Document, and all applicable bank regulatory laws relating to the transactions
contemplated hereby, and made its own decision to enter into this Agreement and to extend credit to Borrowers. Each Lender also
represents (and by entering into a Bank Product Agreement, each Bank Product Provider shall be deemed to represent) that it will,
independently and without reliance upon any Agent-Related Person and based on such documents and information as it shall deem appropriate
at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement
and the other Loan Documents, and to make such investigations as it deems necessary to inform itself as to the business, prospects,
operations, property, financial and other condition and creditworthiness of each Borrower or any other Person party to a Loan Document.
Except for notices, reports, and other documents expressly herein required to be furnished to the Lenders by Agent or UK Security
Agent, as applicable, Agent or UK Security Agent, as applicable, shall not have any duty or responsibility to provide any Lender
(or Bank Product Provider) with any credit or other information concerning the business, prospects, operations, property, financial
and other condition or creditworthiness of any Borrower or any other Person party to a Loan Document that may come into the possession
of any of the Agent-Related Persons. Each Lender acknowledges (and by entering into a Bank Product Agreement, each Bank Product
Provider shall be deemed to acknowledge) that Agent and UK Security Agent do not have any duty or responsibility, either initially
or on a continuing basis (except to the extent, if any, that is expressly specified herein) to provide such Lender (or Bank Product
Provider) with any credit or other information with respect to any Borrower, its Affiliates or any of their respective business,
legal, financial or other affairs, and irrespective of whether such information came into Agent’s or UK Security Agent’s
or its Affiliates’ or representatives’ possession before or after the date on which such Lender became a party to this
Agreement (or such Bank Product Provider entered into a Bank Product Agreement).

 

15.7       Costs
and Expenses; Indemnification. Agent and UK Security Agent may incur and pay Lender Group Expenses to the extent Agent
or UK Security Agent, as applicable, reasonably deems necessary or appropriate for the performance and fulfillment of its functions,
powers, and obligations pursuant to the Loan Documents, including court costs, reasonable attorneys’ fees and expenses, fees
and expenses of financial accountants, advisors, consultants, and appraisers, costs of collection by outside collection agencies,
auctioneer fees and expenses, and costs of security guards or insurance premiums paid to maintain the Collateral, whether or not
Borrowers are obligated to reimburse Agent, UK Security Agent or Lenders for such expenses pursuant to this Agreement or otherwise.
Agent and UK Security Agent are authorized and directed to deduct and retain sufficient amounts from payments or proceeds of the
Collateral received by Agent or UK Security Agent, as applicable, to reimburse Agent or UK Security Agent, as applicable, for such
out-of-pocket costs and expenses prior to the distribution of any amounts to Lenders (or Bank Product Providers). In the event
Agent or UK Security Agent is not reimbursed for such costs and expenses by the Loan Parties and their Subsidiaries, each Lender
hereby agrees that it is and shall be obligated to pay to Agent or UK Security Agent, as applicable, such Lender’s ratable
share thereof. Whether or not the transactions contemplated hereby are consummated, each of the Lenders, on a ratable basis, shall
indemnify and defend the Agent-Related Persons (to the extent not reimbursed by or on behalf of Borrowers and without limiting
the obligation of Borrowers to do so) from and against any and all Indemnified Liabilities; provided, that no Lender shall
be liable for the payment to any Agent-Related Person of any portion of such Indemnified Liabilities resulting solely from such
Person’s gross negligence or willful misconduct nor shall any Lender be liable for the obligations of any Defaulting Lender
in failing to make a Revolving Loan or other extension of credit hereunder. Without limitation of the foregoing, each Lender shall
reimburse Agent and/or UK Security Agent upon demand for such Lender’s ratable share of any costs or out of pocket expenses
(including attorneys, accountants, advisors, and consultants fees and expenses) incurred by Agent or UK Security Agent, as applicable,
in connection with the preparation, execution, delivery, administration, modification, amendment, or enforcement (whether through
negotiations, legal proceedings or otherwise) of, or legal advice in respect of rights or responsibilities under, this Agreement
or any other Loan Document to the extent that Agent or UK Security Agent, as applicable,. is not reimbursed for such expenses by
or on behalf of Borrowers. The undertaking in this Section shall survive the payment of all Obligations hereunder and the resignation
or replacement of Agent or UK Security Agent, as applicable.

 

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15.8       Agent
in Individual Capacity. Wells Fargo and its Affiliates may make loans to, issue letters of credit for the account of, accept
deposits from, provide Bank Products to, acquire Equity Interests in, and generally engage in any kind of banking, trust, financial
advisory, underwriting, or other business with any Loan Party and its Subsidiaries and Affiliates and any other Person party to
any Loan Document as though Wells Fargo were not Agent or UK Security Agent hereunder, and, in each case, without notice to or
consent of the other members of the Lender Group. The other members of the Lender Group acknowledge (and by entering into a Bank
Product Agreement, each Bank Product Provider shall be deemed to acknowledge) that, pursuant to such activities, Wells Fargo or
its Affiliates may receive information regarding a Loan Party or its Affiliates or any other Person party to any Loan Documents
that is subject to confidentiality obligations in favor of such Loan Party or such other Person and that prohibit the disclosure
of such information to the Lenders (or Bank Product Providers), and the Lenders acknowledge (and by entering into a Bank Product
Agreement, each Bank Product Provider shall be deemed to acknowledge) that, in such circumstances (and in the absence of a waiver
of such confidentiality obligations, which waiver Agent will use its reasonable best efforts to obtain), neither Agent nor UK Security
Agent, as applicable, shall be under any obligation to provide such information to them. The terms “Lender” and “Lenders”
include Wells Fargo in its individual capacity.

 

15.9       Successor
Agent and Successor UK Security Agent. Agent and UK Security Agent may resign as Agent and UK Security Agent respectively
upon 30 days (ten days if an Event of Default has occurred and is continuing) prior written notice to the Lenders (unless such
notice is waived by the Required Lenders) and Borrowers (unless such notice is waived by Borrowers or a Default or Event of Default
has occurred and is continuing) and without any notice to the Bank Product Providers. If Agent or UK Security Agent resigns under
this Agreement, the Required Lenders shall be entitled, with (so long as no Event of Default has occurred and is continuing) the
consent of Borrowers (such consent not to be unreasonably withheld, delayed, or conditioned), appoint a successor Agent or UK Security
Agent, as applicable, for the Lenders (and the Bank Product Providers). If, at the time that Agent’s resignation is effective,
it is acting as Issuing Bank or Swing Lender, such resignation shall also operate to effectuate its resignation as Issuing Bank
or Swing Lender, as applicable, and it shall automatically be relieved of any further obligation to issue Letters of Credit, or
to make Swing Loans. If no successor Agent or UK Security Agent is appointed prior to the effective date of the resignation of
Agent or UK Security Agent, as applicable, Agent or UK Security Agent, as applicable, may appoint, after consulting with the Lenders
and Borrowers, a successor Agent or UK Security Agent, as applicable. If Agent or UK Security Agent, as applicable, has materially
breached or failed to perform any material provision of this Agreement or of applicable law, the Required Lenders may agree in
writing to remove and replace Agent or UK Security Agent, as applicable, with a successor Agent or a successor UK Security Agent,
as applicable, from among the Lenders with (so long as no Event of Default has occurred and is continuing) the consent of Borrowers
(such consent not to be unreasonably withheld, delayed, or conditioned). In any such event, upon the acceptance of its appointment
as successor Agent or successor UK Security Agent, as applicable, hereunder, such successor Agent or successor UK Security Agent,
as applicable, shall succeed to all the rights, powers, and duties of the retiring Agent or retiring UK Security Agent, as applicable,
and the term “Agent” or “UK Security Agent” shall mean such successor Agent or successor UK Security Agent
and the retiring Agent’s or UK Security Agent’s appointment, powers, and duties as Agent shall be terminated. After
any retiring Agent’s or UK Security Agent’s resignation hereunder as Agent or UK Security Agent, as applicable, the
provisions of this Section 15 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was
Agent under this Agreement or UK Security Agent under any UK Security Document. If no successor Agent or UK Security Agent has
accepted appointment as Agent or UK Security Agent by the date which is thirty days following a retiring Agent’s or retiring
UK Security Agent’s notice of resignation, the retiring Agent’s or retiring UK Security Agent’s resignation shall
nevertheless thereupon become effective and the Lenders shall perform all of the duties of Agent or UK Security Agent hereunder
until such time, if any, as the Lenders appoint a successor Agent or UK Security Agent as provided for above.

 

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15.10     Lender
in Individual Capacity. Any Lender and its respective Affiliates may make loans to, issue letters of credit for the account
of, accept deposits from, provide Bank Products to, acquire Equity Interests in and generally engage in any kind of banking, trust,
financial advisory, underwriting, or other business with any Loan Party and its Subsidiaries and Affiliates and any other Person
party to any Loan Documents as though such Lender were not a Lender hereunder without notice to or consent of the other members
of the Lender Group (or the Bank Product Providers). The other members of the Lender Group acknowledge (and by entering into a
Bank Product Agreement, each Bank Product Provider shall be deemed to acknowledge) that, pursuant to such activities, such Lender
and its respective Affiliates may receive information regarding a Loan Party or its Affiliates or any other Person party to any
Loan Documents that is subject to confidentiality obligations in favor of such Loan Party or such other Person and that prohibit
the disclosure of such information to the Lenders, and the Lenders acknowledge (and by entering into a Bank Product Agreement,
each Bank Product Provider shall be deemed to acknowledge) that, in such circumstances (and in the absence of a waiver of such
confidentiality obligations, which waiver such Lender will use its reasonable best efforts to obtain), such Lender shall not be
under any obligation to provide such information to them.

 

15.11     Collateral
Matters.

 

(a)          The
Lenders hereby irrevocably authorize (and by entering into a Bank Product Agreement, each Bank Product Provider shall be deemed
to authorize) Agent and UK Security Agent to release any Lien on any Collateral (and Agent’s execution of any agreement to
evidence such release) (i) upon the termination of the Commitments and payment and satisfaction in full by the Loan Parties and
their Subsidiaries of all of the Obligations, (ii) constituting property being sold or Disposed of if a release is required or
desirable in connection therewith and if Borrowers certify to Agent or UK Security Agent, as applicable, that the sale or disposition
is permitted under Section 6.4 (and Agent and/or UK Security Agent may rely conclusively on any such certificate, without
further inquiry), (iii) constituting property in which no Loan Party or any of its Subsidiaries owned any interest at the time
the relevant Lien was granted nor at any time thereafter, (iv) constituting property leased or licensed to any Loan Party or its
Subsidiaries under a lease or license that has expired or is terminated in a transaction permitted under this Agreement, or (v)
in connection with a credit bid or purchase authorized under this Section 15.11. The Loan Parties and the Lenders hereby
irrevocably authorize (and by entering into a Bank Product Agreement, each Bank Product Provider shall be deemed to authorize)
Agent, based upon the instruction of the Required Lenders, to (a) consent to the sale of, credit bid, or purchase (either directly
or indirectly through one or more entities) all or any portion of the Collateral at any sale thereof conducted under the provisions
of the Bankruptcy Code or any other Debtor Relief Law, including Section 363 of the Bankruptcy Code, (b)credit bid or purchase
(either directly or indirectly through one or more entities) all or any portion of the Collateral at any sale or other disposition
thereof conducted under the provisions of the Code, including pursuant to Sections 9-610 or 9-620 of the Code, or (c) credit bid
or purchase (either directly or indirectly through one or more entities) all or any portion of the Collateral at any other sale
or foreclosure conducted or consented to by Agent in accordance with applicable law in any judicial action or proceeding or by
the exercise of any legal or equitable remedy. In connection with any such credit bid or purchase, (i) the Obligations owed to
the Lenders and the Bank Product Providers shall be entitled to be, and shall be, credit bid on a ratable basis (with Obligations
with respect to contingent or unliquidated claims being estimated for such purpose if the fixing or liquidation thereof would not
impair or unduly delay the ability of Agent to credit bid or purchase at such sale or other disposition of the Collateral and,
if such contingent or unliquidated claims cannot be estimated without impairing or unduly delaying the ability of Agent to credit
bid at such sale or other disposition, then such claims shall be disregarded, not credit bid, and not entitled to any interest
in the Collateral that is the subject of such credit bid or purchase) and the Lenders and the Bank Product Providers whose Obligations
are credit bid shall be entitled to receive interests (ratably based upon the proportion of their Obligations credit bid in relation
to the aggregate amount of Obligations so credit bid) in the Collateral that is the subject of such credit bid or purchase (or
in the Equity Interests of any entities that are used to consummate such credit bid or purchase), and (ii) Agent, based upon the
instruction of the Required Lenders, may accept non-cash consideration, including debt and equity securities issued by any entities
used to consummate such credit bid or purchase and in connection therewith Agent may reduce the Obligations owed to the Lenders
and the Bank Product Providers (ratably based upon the proportion of their Obligations credit bid in relation to the aggregate
amount of Obligations so credit bid) based upon the value of such non-cash consideration; provided, that Bank Product Obligations
not entitled to the application set forth in Section 2.4(b)(iii) shall not be entitled to be, and shall not be, credit bid,
or used in the calculation of the ratable interest of the Lenders and Bank Product Providers in the Obligations which are credit
bid. Except as provided above, Agent will not execute and deliver a release of any Lien on any Collateral without the prior written
authorization of (y) if the release is of all or substantially all of the Collateral, all of the Lenders (without requiring the
authorization of the Bank Product Providers), or (z) otherwise, the Required Lenders (without requiring the authorization of the
Bank Product Providers). Upon request by Agent or Borrowers at any time, the Lenders will (and if so requested, the Bank Product
Providers will) confirm in writing Agent’s authority to release any such Liens on particular types or items of Collateral
pursuant to this Section 15.11; provided, that (1) anything to the contrary contained in any of the Loan Documents
notwithstanding, Agent shall not be required to execute any document or take any action necessary to evidence such release on terms
that, in Agent’s opinion, could expose Agent to liability or create any obligation or entail any consequence other than the
release of such Lien without recourse, representation, or warranty, and (2) such release shall not in any manner discharge, affect,
or impair the Obligations or any Liens (other than those expressly released) upon (or obligations of Borrowers in respect of) any
and all interests retained by any Borrower, including, the proceeds of any sale, all of which shall continue to constitute part
of the Collateral. Each Lender further hereby irrevocably authorize (and by entering into a Bank Product Agreement, each Bank Product
Provider shall be deemed to irrevocably authorize) Agent, at its option and in its sole discretion, to subordinate (by contract
or otherwise) any Lien granted to or held by Agent on any property under any Loan Document (a) to the holder of any Permitted Lien
on such property if such Permitted Lien secures purchase money Indebtedness (including Capitalized Lease Obligations) which constitute
Indebtedness permitted under Section 6.1 and (b) to the extent Agent has the authority under this Section 15.11 to
release its Lien on such property.

 

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(b)          Neither
Agent nor UK Security Agent shall have any obligation whatsoever to any of the Lenders (or the Bank Product Providers) (i) to verify
or assure that the Collateral exists or is owned by a Loan Party or any of its Subsidiaries or is cared for, protected, or insured
or has been encumbered, (ii) to verify or assure that the relevant Liens have been properly or sufficiently or lawfully created,
perfected, protected, or enforced or are entitled to any particular priority, (iii) to verify or assure that any particular items
of Collateral meet the eligibility criteria applicable in respect thereof, (iv) to impose, maintain, increase, reduce, implement,
or eliminate any particular reserve hereunder or to determine whether the amount of any reserve is appropriate or not, or (v) to
exercise at all or in any particular manner or under any duty of care, disclosure or fidelity, or to continue exercising, any of
the rights, authorities and powers granted or available to Agent or UK Security Agent pursuant to any of the Loan Documents, it
being understood and agreed that in respect of the Collateral, or any act, omission, or event related thereto, subject to the terms
and conditions contained herein, Agent may act in any manner it may deem appropriate, in its sole discretion given Agent’s
own interest in the Collateral in its capacity as one of the Lenders and that Agent and UK Security Agent shall have no other duty
or liability whatsoever to any Lender (or Bank Product Provider) as to any of the foregoing, except as otherwise expressly provided
herein.

 

15.12     Restrictions
on Actions by Lenders; Sharing of Payments.

 

(a)          Each
of the Lenders agrees that it shall not, without the express written consent of Agent, and that it shall, to the extent it is lawfully
entitled to do so, upon the written request of Agent, set off against the Obligations, any amounts owing by such Lender to Holdings
or its Subsidiaries or any deposit accounts of Holdings or its Subsidiaries now or hereafter maintained with such Lender. Each
of the Lenders further agrees that it shall not, unless specifically requested to do so in writing by Agent, take or cause to be
taken any action, including, the commencement of any legal or equitable proceedings to enforce any Loan Document against any Borrower
or any Guarantor or to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral.

 

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(b)          If,
at any time or times any Lender shall receive (i) by payment, foreclosure, setoff, or otherwise, any proceeds of Collateral or
any payments with respect to the Obligations, except for any such proceeds or payments received by such Lender from Agent pursuant
to the terms of this Agreement, or (ii) payments from Borrowers or Agent in excess of such Lender’s Pro Rata Share of all
such distributions by Agent, such Lender promptly shall (A) turn the same over to Agent, in kind, and with such endorsements as
may be required to negotiate the same to Agent, or in immediately available funds, as applicable, for the account of all of the
Lenders and for application to the Obligations in accordance with the applicable provisions of this Agreement, or (B) purchase,
without recourse or warranty, an undivided interest and participation in the Obligations owed to the other Lenders so that such
excess payment received shall be applied ratably as among the Lenders in accordance with their Pro Rata Shares; provided,
that to the extent that such excess payment received by the purchasing party is thereafter recovered from it, those purchases of
participations shall be rescinded in whole or in part, as applicable, and the applicable portion of the purchase price paid therefor
shall be returned to such purchasing party, but without interest except to the extent that such purchasing party is required to
pay interest in connection with the recovery of the excess payment.

 

15.13     Agency
for Perfection. Agent hereby appoints each other Lender (and each Bank Product Provider) as its agent (and each Lender
hereby accepts (and by entering into a Bank Product Agreement, each Bank Product Provider shall be deemed to accept) such appointment)
for the purpose of perfecting Agent’s Liens in assets which, in accordance with Article 8 or Article 9, as applicable, of
the Code can be perfected by possession or control. Should any Lender obtain possession or control of any such Collateral, such
Lender shall notify Agent thereof, and, promptly upon Agent’s request therefor shall deliver possession or control of such
Collateral to Agent or in accordance with Agent’s instructions.

 

15.14     Payments
by Agent to the Lenders. All payments to be made by Agent to the Lenders (or Bank Product Providers) shall be made by bank
wire transfer of immediately available funds pursuant to such wire transfer instructions as each party may designate for itself
by written notice to Agent. Concurrently with each such payment, Agent shall identify whether such payment (or any portion thereof)
represents principal, premium, fees, or interest of the Obligations.

 

15.15     Concerning
the Collateral and Related Loan Documents. Each member of the Lender Group authorizes and directs Agent and UK Security
Agent to enter into this Agreement and the other Loan Documents. Each member of the Lender Group agrees (and by entering into a
Bank Product Agreement, each Bank Product Provider shall be deemed to agree) that any action taken by Agent and UK Security Agent
in accordance with the terms of this Agreement or the other Loan Documents relating to the Collateral and the exercise by Agent
and UK Security Agent of its powers set forth therein or herein, together with such other powers that are reasonably incidental
thereto, shall be binding upon all of the Lenders (and such Bank Product Provider).

 

15.16     Field
Examination Reports; Confidentiality; Disclaimers by Lenders; Other Reports and Information. By becoming a party to this
Agreement, each Lender:

 

(a)          is
deemed to have requested that Agent furnish such Lender, promptly after it becomes available, a copy of each field examination
report respecting Holdings or its Subsidiaries (each, a “Report”) prepared by or at the request of Agent, and
Agent shall so furnish each Lender with such Reports,

 

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(b)          expressly
agrees and acknowledges that Agent does not (i) make any representation or warranty as to the accuracy of any Report, and (ii)
shall not be liable for any information contained in any Report,

 

(c)          expressly
agrees and acknowledges that the Reports are not comprehensive audits or examinations, that Agent or other party performing any
field examination will inspect only specific information regarding Holdings and its Subsidiaries and will rely significantly upon
Holdings’ and its Subsidiaries’ books and records, as well as on representations of Borrowers’ personnel,

 

(d)          agrees
to keep all Reports and other material, non-public information regarding Holdings and its Subsidiaries and their operations, assets,
and existing and contemplated business plans in a confidential manner in accordance with Section 17.9, and

 

(e)          without
limiting the generality of any other indemnification provision contained in this Agreement, agrees: (i) to hold Agent and any other
Lender preparing a Report harmless from any action the indemnifying Lender may take or fail to take or any conclusion the indemnifying
Lender may reach or draw from any Report in connection with any loans or other credit accommodations that the indemnifying Lender
has made or may make to Borrowers, or the indemnifying Lender’s participation in, or the indemnifying Lender’s purchase
of, a loan or loans of Borrowers, and (ii) to pay and protect, and indemnify, defend and hold Agent, and any such other Lender
preparing a Report harmless from and against, the claims, actions, proceedings, damages, costs, expenses, and other amounts (including,
reasonable attorneys’ fees and costs) incurred by Agent and any such other Lender preparing a Report as the direct or indirect
result of any third parties who might obtain all or part of any Report through the indemnifying Lender.

 

(f)          In
addition to the foregoing, (x) any Lender may from time to time request of Agent in writing that Agent provide to such Lender a
copy of any report or document provided by Holdings or its Subsidiaries to Agent that has not been contemporaneously provided by
Holdings or such Subsidiary to such Lender, and, upon receipt of such request, Agent promptly shall provide a copy of same to such
Lender, (y) to the extent that Agent is entitled, under any provision of the Loan Documents, to request additional reports or information
from Holdings or its Subsidiaries, any Lender may, from time to time, reasonably request Agent to exercise such right as specified
in such Lender’s notice to Agent, whereupon Agent promptly shall request of Borrowers the additional reports or information
reasonably specified by such Lender, and, upon receipt thereof from Holdings or such Subsidiary, Agent promptly shall provide a
copy of same to such Lender, and (z) any time that Agent renders to Borrowers a statement regarding the Loan Account, Agent shall
send a copy of such statement to each Lender.

 

15.17     Several
Obligations; No Liability. Notwithstanding that certain of the Loan Documents now or hereafter may have been or will be
executed only by or in favor of Agent or UK Security Agent in its capacity as such, and not by or in favor of the Lenders, any
and all obligations on the part of Agent (if any) to make any credit available hereunder shall constitute the several (and not
joint) obligations of the respective Lenders on a ratable basis, according to their respective Commitments, to make an amount of
such credit not to exceed, in principal amount, at any one time outstanding, the amount of their respective Commitments. Nothing
contained herein shall confer upon any Lender any interest in, or subject any Lender to any liability for, or in respect of, the
business, assets, profits, losses, or liabilities of any other Lender. Each Lender shall be solely responsible for notifying its
Participants of any matters relating to the Loan Documents to the extent any such notice may be required, and no Lender shall have
any obligation, duty, or liability to any Participant of any other Lender. Except as provided in Section 15.7, no member
of the Lender Group shall have any liability for the acts of any other member of the Lender Group. No Lender shall be responsible
to any Borrower or any other Person for any failure by any other Lender (or Bank Product Provider) to fulfill its obligations to
make credit available hereunder, nor to advance for such Lender (or Bank Product Provider) or on its behalf, nor to take any other
action on behalf of such Lender (or Bank Product Provider) hereunder or in connection with the financing contemplated herein.

 

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15.18     UK
Security Agent as security trustee for UK Security Documents. For the purposes of any Liens or Collateral created under
the UK Security Documents, the following additional provisions shall apply, in addition to the provisions set out in Section
15 or otherwise hereunder.

 

(a)          In
this Section 15.18, the following expressions have the following meanings:

 

“Appointee”
means any receiver, administrator or other insolvency officer appointed in respect of any Loan Party or its assets.

 

“Charged
Property” means the assets of the Loan Parties subject to a security interest under the UK Security Documents.

 

“Delegate”
means any delegate, agent, attorney or co-trustee appointed by UK Security Agent (in its capacity as security trustee).

 

“Secured
Parties” means UK Security Agent, the Lenders and the Bank Product Providers.

 

(b)         The
Secured Parties appoint UK Security Agent to hold the security interests constituted by the UK Security Documents on trust for
the Secured Parties on the terms of the Loan Documents and UK Security Agent accepts that appointment.

 

(c)          UK
Security Agent, its subsidiaries and associated companies may each retain for its own account and benefit any fee, remuneration
and profits paid to it in connection with (i) its activities under the Loan Documents; and (ii) its engagement in any kind of banking
or other business with any Loan Party.

 

(d)         Nothing
in this Agreement constitutes UK Security Agent as a trustee or fiduciary of, nor shall UK Security Agent have any duty or responsibility
to, any Loan Party.

 

(e)         UK
Security Agent shall have no duties or obligations to any other Person except for those which are expressly specified in the Loan
Documents or mandatorily required by applicable law.

 

(f)          UK
Security Agent may appoint one or more Delegates on such terms (which may include the power to sub-delegate) and subject to such
conditions as it thinks fit, to exercise and perform all or any of the duties, rights, powers and discretions vested in it by the
UK Security Documents and shall not be obliged to supervise any Delegate or be responsible to any person for any loss incurred
by reason of any act, omission, misconduct or default on the part of any Delegate.

 

(g)         UK
Security Agent may (whether for the purpose of complying with any law or regulation of any overseas jurisdiction, or for any other
reason) appoint (and subsequently remove) any person to act jointly with UK Security Agent either as a separate trustee or as a
co-trustee on such terms and subject to such conditions as UK Security Agent thinks fit and with such of the duties, rights, powers
and discretions vested in UK Security Agent by the UK Security Documents as may be conferred by the instrument of appointment of
that person.

 

(h)         UK
Security Agent shall notify the Lenders of the appointment of each Appointee (other than a Delegate).

 

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(i)          UK
Security Agent may pay reasonable remuneration to any Delegate or Appointee, together with any costs and expenses (including legal
fees) reasonably incurred by the Delegate or Appointee in connection with its appointment. All such remuneration, costs and expenses
shall be treated, for the purposes of this Agreement and any Fee Letter, as paid or incurred by UK Security Agent.

 

(j)          Each
Delegate and each Appointee shall have every benefit, right, power and discretion and the benefit of every exculpation (together
“Rights”) of UK Security Agent (in its capacity as security trustee) under the UK Security Documents, and each reference
to UK Security Agent (where the context requires that such reference is to UK Security Agent in its capacity as security trustee)
in the provisions of the UK Security Documents which confer Rights shall be deemed to include a reference to each Delegate and
each Appointee.

 

(k)          Each
Secured Party confirms its approval of the UK Security Documents and authorizes and instructs UK Security Agent: (i) to execute
and deliver the UK Security Documents; (ii) to exercise the rights, powers and discretions given to UK Security Agent (in its capacity
as security trustee) under or in connection with the UK Security Documents together with any other incidental rights, powers and
discretions; and (iii) to give any authorizations and confirmations to be given by UK Security Agent (in its capacity as security
trustee) on behalf of the Secured Parties under the UK Security Documents.

 

(l)           UK
Security Agent may accept without inquiry the title (if any) which any person may have to the Charged Property.

 

(m)         Each
other Secured Party confirms that it does not wish to be registered as a joint proprietor of any security interest constituted
by a UK Security Document and accordingly authorizes: (a) UK Security Agent to hold such security interest in its sole name (or
in the name of any Delegate) as trustee for the Secured Parties; and (b) the Land Registry (or other relevant registry) to register
UK Security Agent (or any Delegate or Appointee) as a sole proprietor of such security interest.

 

(n)         Except
to the extent that a UK Security Document otherwise requires, any moneys which UK Security Agent receives under or pursuant to
a UK Security Document may be: (a) invested in any investments which UK Security Agent selects and which are authorized by applicable
law; or (b) placed on deposit at any bank or institution (including UK Security Agent) on terms that UK Security Agent thinks fit,
in each case in the name or under the control of UK Security Agent, and UK Security Agent shall hold those moneys, together with
any accrued income (net of any applicable Tax) to the order of the Lenders, and shall pay them to the Lenders on demand.

 

(o)         On
a disposal of any of the Charged Property which is permitted under the Loan Documents, UK Security Agent shall (at the cost of
the Loan Parties) execute any release of the UK Security Documents or other claim over that Charged Property and issue any certificates
of non-crystallisation of floating charges that may be required or take any other action that UK Security Agent considers desirable.

 

(p)          UK
Security Agent shall not be liable for:

 

(i)          any
defect in or failure of the title (if any) which any person may have to any assets over which security is intended to be created
by a UK Security Document;

 

(ii)         any
loss resulting from the investment or deposit at any bank of moneys which it invests or deposits in a manner permitted by the Loan
Documents;

 

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(iii)        the
exercise of, or the failure to exercise, any right, power or discretion given to it by or in connection with any Loan Document
or any other agreement, arrangement or document entered into, or executed in anticipation of, under or in connection with, any
Loan Document; or

 

(iv)        any
shortfall which arises on enforcing a UK Security Document.

 

(q)         UK
Security Agent shall not be obligated to:

 

(i)          obtain
any authorization or environmental permit in respect of any of the Charged Property or a UK Security Document;

 

(ii)         hold
in its own possession a UK Security Document, title deed or other document relating to the Charged Property or a UK Security Document;

 

(iii)        perfect,
protect, register, make any filing or give any notice in respect of a UK Security Document (or the order of ranking of a UK Security
Document), unless that failure arises directly from its own gross negligence or willful misconduct; or

 

(iv)        require
any further assurances in relation to a UK Security Document.

 

(r)          In
respect of any UK Security Document, UK Security Agent shall not be obligated to: (i) insure, or require any other person to insure,
the Charged Property; or (ii) make any enquiry or conduct any investigation into the legality, validity, effectiveness, adequacy
or enforceability of any insurance existing over such Charged Property.

 

(s)          In
respect of any UK Security Document, UK Security Agent shall not have any obligation or duty to any person for any loss suffered
as a result of: (i) the lack or inadequacy of any insurance; or (ii) the failure of UK Security Agent to notify the insurers of
any material fact relating to the risk assumed by them, or of any other information of any kind, unless Required Lenders have requested
it to do so in writing and UK Security Agent has failed to do so within fourteen (14) days after receipt of that request.

 

(t)          Every
appointment of a successor UK Security Agent under a UK Security Document shall be by deed.

 

(u)         Section
1 of the Trustee Act 2000 (UK) shall not apply to the duty of UK Security Agent in relation to the trusts constituted by this Agreement.

 

(v)         In
the case of any conflict between the provisions of this Agreement and those of the Trustee Act 1925 (UK) or the Trustee Act 2000
(UK), the provisions of this Agreement shall prevail to the extent allowed by law, and shall constitute a restriction or exclusion
for the purposes of the Trustee Act 2000 (UK).

 

(w)         The
rights, powers and discretions conferred upon UK Security Agent by this Agreement shall be supplemental to the Trustee Act 1925
and the Trustee Act 2000 and in addition to any which may be vested in UK Security Agent by any other Loan Document by general
law or otherwise.

 

(x)          The
perpetuity period under the rule against perpetuities if applicable to this Agreement and any UK Security Document shall be 80
years from the date of this Agreement.

 

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15.19     Arranger
Provisions. The Lead Arranger, in such capacity, shall not have any right, power, obligation, liability, responsibility,
or duty under this Agreement other than those applicable to it in its capacity as a Lender, as Agent, as Swing Lender, or as Issuing
Bank, as applicable. Without limiting the foregoing, the Lead Arranger in such capacity, shall not have or be deemed to have any
fiduciary relationship with any Lender or any Loan Party. Each Lender, Agent, Swing Lender, Issuing Bank, and each Loan Party acknowledges
that it has not relied, and will not rely, on the Lead Arranger in deciding to enter into this Agreement or in taking or not taking
action hereunder. The Lead Arranger, in such capacity, shall be entitled to resign at any time by giving notice to Agent and Borrowers.

 

16.         TAXES.

 

The provisions of Section 16.5 shall
apply in respect of any Loan made to a UK Borrower and accordingly Sections 16.1 to 16.4 shall not apply to any such
Loan or any payments thereunder. Each party’s obligations under this Section 16 shall survive the resignation or replacement
of the Agent or any assignment of rights by, or the replacement of, a Lender, the termination of the Commitments and the repayment,
satisfaction or discharge of all obligations under any Loan Document.

 

16.1       Payments.
All payments made by any Loan Party under any Loan Document will be made free and clear of, and without deduction or withholding
for, any Taxes, except as otherwise required by applicable law, and in the event any deduction or withholding of Taxes is required
(as determined in the good faith discretion of the applicable Withholding Agent), the applicable Loan Party shall make the requisite
withholding, promptly pay over to the applicable Governmental Authority the withheld Tax, and furnish to Agent as promptly as possible
after the date the payment of any such Tax is due pursuant to applicable law, certified copies of Tax receipts evidencing such
payment by the Loan Parties. Furthermore, if any such Tax is an Indemnified Tax or an Indemnified Tax is so levied or imposed,
the Loan Parties agree to pay the full amount of such Indemnified Tax and such additional amounts as may be necessary so that every
payment of all amounts due under this Agreement, any note, or Loan Document, including any amount paid pursuant to this Section
16.1 after withholding or deduction for or on account of any Indemnified Taxes, will not be less than the amount provided for
herein. The Loan Parties will promptly pay any Other Taxes or reimburse Agent for such Other Taxes upon Agent’s demand. The
Loan Parties shall jointly and severally indemnify each Indemnified Person (as defined in Section 10.3) (collectively a
“Tax Indemnitee”) for the full amount of Indemnified Taxes arising in connection with this Agreement or any
other Loan Document or breach thereof by any Loan Party (including any Indemnified Taxes imposed or asserted on, or attributable
to, amounts payable under this Section 16) imposed on, or paid by, such Tax Indemnitee and all reasonable costs and expenses
related thereto, as and when they are incurred and irrespective of whether suit is brought, whether or not such Indemnified Taxes
were correctly or legally imposed or asserted by the relevant Governmental Authority (other than Indemnified Taxes and additional
amounts that a court of competent jurisdiction finally determines to have resulted from the gross negligence or willful misconduct
of such Tax Indemnitee). The obligations of the Loan Parties under this Section 16 shall survive the termination of this
Agreement, the resignation and replacement of Agent, and the repayment of the Obligations.

 

16.2       Exemptions.

 

(a)         If
a Lender or Participant is entitled to claim an exemption or reduction from United States withholding tax, such Lender or Participant
agrees with and in favor of Agent, to deliver to Agent (or, in the case of a Participant, to the Lender granting the participation
only) and the Administrative Borrower on behalf of all Borrowers one of the following (as well as such other documentation prescribed
by applicable law or reasonably requested by Borrowers or the Agent as will enable the Borrowers or the Agent to determine whether
or not such Lender or Participant is subject to backup withholding or information reporting requirements) before receiving its
first payment under this Agreement and at the time or times reasonably requested as will permit such payments to be made without
withholding or at a reduced rate of withholding:

 

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(i)          if
such Lender or Participant is entitled to claim an exemption from United States withholding tax pursuant to the portfolio interest
exception, (A) a statement of the Lender or Participant, signed under penalty of perjury, that it is not a (I) a “bank”
as described in Section 881(c)(3)(A) of the IRC, (II) a 10% shareholder of Administrative Borrower (within the meaning of Section
871(h)(3)(B) of the IRC), or (III) a controlled foreign corporation related to Borrowers within the meaning of Section 864(d)(4)
of the IRC, and (B) a properly completed and executed IRS Form W-8BEN, Form W-8BEN-E or Form W-8IMY (with proper attachments as
applicable);

 

(ii)         if
such Lender or Participant is entitled to claim an exemption from, or a reduction of, withholding tax under a United States tax
treaty, a properly completed and executed copy of IRS Form W-8BEN or Form W-8BEN-E, as applicable;

 

(iii)        if
such Lender or Participant is entitled to claim that interest paid under this Agreement is exempt from United States withholding
tax because it is effectively connected with a United States trade or business of such Lender, a properly completed and executed
copy of IRS Form W-8ECI;

 

(iv)        if
such Lender or Participant is entitled to claim that interest paid under this Agreement is exempt from United States withholding
tax because such Lender or Participant serves as an intermediary, a properly completed and executed copy of IRS Form W-8IMY (including
a withholding statement and copies of the tax certification documentation for its beneficial owner(s) of the income paid to the
intermediary, if required based on its status provided on the Form W-8IMY); or

 

(v)         a
properly completed and executed copy of any other form or forms, including IRS Form W-9, as may be required under the IRC or other
laws of the United States as a condition to exemption from, or reduction of, United States withholding or backup withholding tax.

 

(b)         Each
Lender or Participant shall provide new forms (or successor forms) upon the expiration or obsolescence of any previously delivered
forms and to promptly notify Agent and Administrative Borrower (or, in the case of a Participant, to the Lender granting the participation
only) of any change in circumstances which would modify or render invalid any claimed exemption or reduction.

 

(c)         If
a Lender or Participant claims an exemption from withholding tax in a jurisdiction other than the United States, such Lender or
such Participant agrees with and in favor of Agent and Borrowers, to deliver to Agent and Administrative Borrower (or, in the case
of a Participant, to the Lender granting the participation only) any such form or forms, as may be required under the laws of such
jurisdiction as a condition to exemption from, or reduction of, foreign withholding or backup withholding tax before receiving
its first payment under this Agreement, and from time to time thereafter upon the reasonable request of the Agent or Borrowers,
but only if such Lender or such Participant is legally able to deliver such forms, or the providing of or delivery of such forms
in the Lender’s reasonable judgment would not subject such Lender to any material unreimbursed cost or expense or materially
prejudice the legal or commercial position of such Lender (or its Affiliates); provided, further, that nothing in
this Section 16.2(c) shall require a Lender or Participant to disclose any information that it deems to be confidential
(including its tax returns). Each Lender and each Participant shall provide new forms (or successor forms) upon the expiration
or obsolescence of any previously delivered forms and to promptly notify Agent and Administrative Borrower (or, in the case of
a Participant, to the Lender granting the participation only) of any change in circumstances which would modify or render invalid
any claimed exemption or reduction.

 

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(d)          If
a Lender or Participant claims exemption from, or reduction of, withholding tax and such Lender or Participant sells, assigns,
grants a participation in, or otherwise transfers all or part of the Obligations of Borrowers to such Lender or Participant, such
Lender or Participant agrees to notify Agent and Administrative Borrower (or, in the case of a sale of a participation interest,
to the Lender granting the participation only) of the percentage amount in which it is no longer the beneficial owner of Obligations
of Borrowers to such Lender or Participant. To the extent of such percentage amount, Agent and Administrative Borrower will treat
such Lender’s or such Participant’s documentation provided pursuant to Section 16.2(a) or 16.2(c) as
no longer valid. With respect to such percentage amount, such Participant or Assignee may provide new documentation, pursuant to
Section 16.2(a) or 16.2(c), if applicable. Borrowers agree that each Participant shall be entitled to the benefits
of this Section 16 with respect to its participation in any portion of the Commitments and the Obligations so long as such
Participant complies with the obligations set forth in this Section 16 with respect thereto.

 

(e)          If
a payment made to a Lender under any Loan Document would be subject to US federal withholding tax imposed by FATCA if such Lender
were to fail to comply with the applicable due diligence and reporting requirements of FATCA (including those contained in Section
1471(b) or 1472(b) of the IRC, as applicable), such Lender shall deliver to Agent or the Administrative Borrower(or, in the case
of a Participant, to the Lender granting the participation only) at the time or times prescribed by law and at such time or times
reasonably requested by Agent or Borrowers (or, in the case of a Participant, the Lender granting the participation) such documentation
prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the IRC) and such additional documentation
reasonably requested by Agent or Borrowers (or, in the case of a Participant, the Lender granting the participation) as may be
necessary for Agent or Borrowers to comply with their obligations under FATCA and to determine that such Lender has complied with
such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes
of this clause (e), “FATCA” shall include any amendments made to FATCA after the date of this Agreement.

 

16.3       Reductions.

 

(a)          If
a Lender or a Participant is subject to an applicable withholding tax, Agent (or, in the case of a Participant, the Lender granting
the participation) may withhold from any payment to such Lender or such Participant an amount equivalent to the applicable withholding
tax. If the forms or other documentation required by Section 16.2(a) or 16.2(c) are not delivered to Agent (or, in
the case of a Participant, to the Lender granting the participation), then Agent (or, in the case of a Participant, to the Lender
granting the participation) may withhold from any payment to such Lender or such Participant not providing such forms or other
documentation an amount equivalent to the applicable withholding tax.

 

(b)          If
the IRS or any other Governmental Authority of the United States or other jurisdiction asserts a claim that Agent (or, in the case
of a Participant, to the Lender granting the participation) did not properly withhold tax from amounts paid to or for the account
of any Lender or any Participant due to a failure on the part of the Lender or any Participant (because the appropriate form was
not delivered, was not properly executed, or because such Lender failed to notify Agent (or such Participant failed to notify the
Lender granting the participation) of a change in circumstances which rendered the exemption from, or reduction of, withholding
tax ineffective, or for any other reason) such Lender shall indemnify and hold Agent harmless (or, in the case of a Participant,
such Participant shall indemnify and hold the Lender granting the participation harmless) for all amounts paid, directly or indirectly,
by Agent (or, in the case of a Participant, to the Lender granting the participation), as tax or otherwise, including penalties
and interest, and including any taxes imposed by any jurisdiction on the amounts payable to Agent (or, in the case of a Participant,
to the Lender granting the participation only) under this Section 16, together with all costs and expenses (including attorneys’
fees and expenses). The obligation of the Lenders and the Participants under this subsection shall survive the payment of all Obligations
and the resignation or replacement of Agent.

 

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16.4       Refunds.
If Agent or a Lender determines, in its sole discretion exercised in good faith, that it has received a refund of any Taxes as
to which the Loan Parties have paid any amounts pursuant to this Section 16, it shall pay over such refund to the Administrative
Borrower on behalf of the Loan Parties (but only to the extent of payments made, or additional amounts paid, by the Loan Parties
under this Section 16 with respect to Indemnified Taxes giving rise to such a refund), net of all out-of-pocket expenses
of Agent or such Lender and without interest (other than any interest paid by the applicable Governmental Authority with respect
to such a refund); provided, that the Loan Parties, upon the request of Agent or such Lender, agrees to repay the amount
paid over to the Loan Parties (plus any penalties, interest or other charges, imposed by the applicable Governmental Authority,
other than such penalties, interest or other charges imposed as a result of the willful misconduct or gross negligence of Agent
or Lender hereunder as finally determined by a court of competent jurisdiction) to Agent or such Lender in the event Agent or such
Lender is required to repay such refund to such Governmental Authority. Notwithstanding anything in this Agreement to the contrary,
this Section 16.4 shall not be construed to require Agent or any Lender to make available its tax returns (or any other
information which it deems confidential) to Loan Parties or any other Person or require Agent or any Lender to pay any amount to
an indemnifying party pursuant to Section 16.4, the payment of which would place Agent or such Lender (or their Affiliates)
in a less favorable net after-Tax position than such Person would have been in if the Tax subject to indemnification and giving
rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts
with respect to such Tax had never been paid.

 

16.5       United
Kingdom Tax Matters.

 

(a)         UK
Taxes. The provisions of this Section 16.5 shall only apply in respect of any UK Borrower.

 

(b)         Tax
Gross-Up.

 

(i)          Each
UK Borrower shall make all payments to be made by it under any Loan Document without any Tax Deduction unless a Tax Deduction is
required by law.

 

(ii)         A
UK Borrower shall, promptly upon becoming aware that it must make a Tax Deduction (or that there is any change in the rate or the
basis of a Tax Deduction) notify Agent accordingly. Similarly, a Lender shall promptly notify Agent on becoming so aware in respect
of a payment payable to that Lender. If Agent receives such notification from a Lender it shall notify the UK Borrowers.

 

(iii)        Subject
to Section 16.5(b)(iv), if a Tax Deduction is required by law to be made by a UK Borrower, the amount of the payment due
from that UK Borrower shall be increased to an amount which (after making any Tax Deduction) leaves an amount equal to the payment
which would have been due if no Tax Deduction had been required.

 

(iv)        A
payment shall not be increased under Section 16.5(b)(iii) above by reason of a Tax Deduction on account of Taxes imposed
by the United Kingdom if, on the date on which the payment falls due:

 

(A)         the
payment could have been made to the relevant Lender without a Tax Deduction if the Lender had been a Qualifying Lender, but on
that date that Lender is not or has ceased to be a Qualifying Lender other than as a result of any change after the date it became
a Lender under this Agreement in (or in the interpretation, administration, or application of) any law or Treaty or any published
practice or published concession of any relevant taxing authority; or

 

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(B)         the
relevant Lender is a Qualifying Lender solely by virtue of clause (b) of the definition of Qualifying Lender, and:

 

an officer of H.M. Revenue & Customs
has given (and not revoked) a direction (a “Direction”) under section 931 of the UK ITA which relates to the payment
and that Lender has received from the UK Borrowers making the payment a certified copy of that Direction;

 

the payment could have been made to the
Lender without any Tax Deduction if that Direction had not been made; or

 

(C)         the
relevant Lender is a Qualifying Lender solely by virtue of clause (b) of the definition of Qualifying Lender and:

 

the relevant Lender has not given a Tax
Confirmation to the UK Borrowers; and

 

the payment could have been made to the
Lender without any Tax Deduction if the Lender had given a Tax Confirmation to the UK Borrowers, on the basis that the Tax Confirmation
would have enabled the UK Borrowers to have formed a reasonable belief that the payment was an “excepted payment” for
the purpose of section 930 of the UK ITA; or

 

(D)         the
relevant Lender is a Treaty Lender and the UK Borrowers making the payment is able to demonstrate that the payment could have been
made to the Lender without the Tax Deduction had that Lender complied with its obligations under Section 16.5(b)(vii) and
Section 16.5(f) below.

 

(v)        If
a UK Borrower is required to make a Tax Deduction, that UK Borrower shall make that Tax Deduction and any payment required in connection
with that Tax Deduction within the time allowed and in the minimum amount required by law.

 

(vi)       Within
thirty days of making either a Tax Deduction or any payment required in connection with that Tax Deduction, the UK Borrowers making
that Tax Deduction shall deliver to Agent for the benefit of the Lender entitled to the payment a statement under section 975 of
the UK ITA or other evidence reasonably satisfactory to that Lender that the Tax Deduction has been made or (as applicable) any
appropriate payment paid to the relevant taxing authority.

 

(vii)      A
Treaty Lender and each UK Borrower which makes a payment to which that Treaty Lender is entitled shall co-operate in completing
any procedural formalities necessary for that UK Borrower to obtain authorization to make that payment without a Tax Deduction
and, until such time as the UK Borrowers have obtained authorization (including under the HMRC DT Treaty Passport scheme) to make
payments without any Tax Deduction, the UK Borrowers will continue to comply with their obligations under the remaining provisions
of this Section 16.5(b).

 

(viii)     Nothing
in Section 16.5(b)(vii) above shall require a Treaty Lender to:

 

(A)         register
under the HMRC DT Treaty Passport scheme;

 

(B)         apply
the HMRC DT Treaty Passport scheme to any advance if it has so registered; or

 

    	 	123	 

     

    

 

(C)         file
Treaty forms if it has given a confirmation to the effect that it wishes the HMRC DT Treaty Passport Scheme to apply to this Agreement
in accordance with Section 16.5(b)(xi) or Section 16.5(f)(i) (HMRC DT Treaty Passport scheme confirmation) and the
UK Borrowers making that payment has not complied with its obligations under Section 16.5(b)(xii) or Section 16.5(f)(ii)
(HMRC DT Treaty Passport scheme confirmation).

 

(ix)        A
UK Non-Bank Lender which becomes a party on the day on which this Agreement is entered into gives a Tax Confirmation to the UK
Borrowers by entering into this Agreement.

 

(x)         A
UK Non-Bank Lender shall promptly notify the UK Borrowers and Agent if there is any change in the position from that set out in
the Tax Confirmation.

 

(xi)        A
Treaty Lender which becomes a party on the day on which this Agreement is entered into that holds a passport under the HMRC DT
Treaty Passport scheme, and which wishes that scheme to apply to this Agreement, shall give a confirmation to that effect (for
the benefit of Agent and without liability to any UK Borrower) by notifying the Administrative Borrowers of its scheme reference
number and its jurisdiction of tax residence.

 

(xii)       Where
a Lender notifies the Administrative Borrowers as described in Section 16.5(b)(xi) above, each UK Borrower shall file a
duly completed form DTTP2 in respect of such Lender with HM Revenue & Customs within 30 days of the date of this Agreement
and shall promptly provide the Lender with a copy of that filing.

 

(xiii)      Where
a Lender has notified the Administrative Borrowers as described in Section 16.5(b)(xi) and a UK Borrower which has complied
with its obligations under Section 16.5(b)(xii) has filed a duly completed form DTTP2 but that form DTTP2 has been rejected
by H.M. Revenue & Customs or H.M. Revenue & Customs has not given the UK Borrowers authority to make payments to that Lender
without a Tax Deduction within 60 days of the date of filing the form DTTP2, the UK Borrowers shall notify the Lender in writing
and the Lender shall co-operate in completing any additional procedural formalities necessary for that UK Borrower to obtain authorization
to make a payment without a Tax Deduction.

 

(xiv)      If
a Lender has not given a confirmation to the effect that it wishes the HMRC DT Treaty Passport scheme to apply to this Agreement
in accordance with Section 16.5(b)(xi) above or Section 16.5(f)(i), no UK Borrower shall file any form relating to
the HMRC DT Treaty Passport scheme in respect of that Lender’s advance or its participation in any advance, unless the Lender
agrees otherwise.

 

(c)         Tax
indemnity.

 

(i)          Subject
to Section 16.5(c)(ii), the UK Borrowers shall (within three Business Days of demand by Agent) pay to the Lender an amount
equal to the loss, liability or cost which that Lender determines will be or has been (directly or indirectly) suffered for or
on account of Tax by that Lender in respect of a Loan Document.

 

(ii)         Section
16.5(c)(i) above shall not apply:

 

(A)         with
respect to any Tax assessed on a Lender:

 

i.            under
the law of the jurisdiction in which that Lender is incorporated or, if different, the jurisdiction (or jurisdictions) in which
that Lender is treated as resident for tax purposes; or

 

    	 	124	 

     

    

 

ii.        under
the law of the jurisdiction in which that Lender’s lending office is located in respect of amounts received or receivable
in that jurisdiction,

 

(B)         if
that Tax is imposed on or calculated by reference to the net income received or receivable (but not any sum deemed to be received
or receivable) by that Lender; or

 

(C)         to
the extent a loss, liability or cost:

 

i.          is
compensated for by an increased payment under Section 16.5(b); or

 

ii.         would
have been compensated for by an increased payment under Section 16.5(b) but was not so compensated solely because one of
the exclusions in Section 16.5(b) applied; or

 

iii.        relates
to a deduction or withholding from a payment under a Loan Document required by FATCA.

 

(iii)        A
Lender making, or intending to make a claim under Section 16.5(c)(i) above shall promptly notify Agent of the event which
will give, or has given, rise to the claim, following which Agent shall notify the UK Borrowers.

 

(iv)        A
Lender shall, on receiving a payment from a UK Borrower under Section 16.5(c)(i), notify Agent.

 

(d)         Tax
Credit. If a UK Borrower makes a Tax Payment and the relevant Lender reasonably determines that (1) a Tax Credit is attributable
either to an increased payment of which that Tax Payment forms part, or to that Tax Payment; and that (2) Lender has obtained,
utilized and retained the benefit of that Tax Credit, the Lender shall pay an amount to the UK Borrowers which that Lender reasonably
determines will leave it (after that payment) in the same after-Tax position as it would have been in had the Tax Payment not been
required to be made by the UK Borrowers. Each Lender shall promptly notify the UK Borrowers of any Tax Credit that may give rise
to a payment under this Section 16.5(d).

 

(e)         Lender
Status Confirmation. Each Lender which becomes a party to this Agreement after the date of this Agreement (“New Lender”)
shall confirm, in the Assignment and Acceptance Agreement which it executes on becoming a party, and for the benefit of Agent and
without liability to any UK Borrower, which of the following categories it falls within:

 

(i)          not
a Qualifying Lender;

 

(ii)         a
Qualifying Lender (other than a Treaty Lender); or

 

(iii)        a
Treaty Lender.

 

If a New Lender fails to indicate its status
in accordance with this Section 16.5(e), then such New Lender or Lender (as appropriate) shall be treated for the purposes
of this Agreement (including by each UK Borrower) as if it is not a Qualifying Lender until such time as it notifies Agent which
category of Qualifying Lender applies (and Agent, upon receipt of such notification, shall inform the UK Borrowers). For the avoidance
of doubt, an Assignment and Acceptance shall not be invalidated by any failure of a New Lender to comply with this Section 16.5.
A New Lender who has indicated its status in accordance with this Section 16.5(e) shall use reasonable efforts to notify
the UK Borrowers if it becomes aware of a change in that status.

 

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(f)          HMRC
DT Treaty Passport Scheme Confirmation.

 

(i)          A
New Lender that is a Treaty Lender that holds a passport under the HMRC DT Treaty Passport scheme, and which wishes that scheme
to apply to this Agreement, shall give a confirmation to that effect (for the benefit of Agent and without liability to any UK
Borrower) in the Assignment and Acceptance which it executes by including its scheme reference number and its jurisdiction of tax
residence in that Assignment and Acceptance.

 

(ii)         Where
an Assignment and Acceptance includes the confirmation described in Section 16.5(f)(i) above in the relevant Assignment
and Acceptance each UK Borrower which is a Party as a Borrower as at the date that the relevant Assignment and Acceptance Agreement
is executed (the “Transfer Date”) shall file a duly completed form DTTP2 in respect of such Lender with HM Revenue
& Customs within 30 days of that Transfer Date and shall promptly provide the Lender with a copy of that filing.

 

(iii)        Where
a New Lender that is a Treaty Lender has confirmed that it wishes the HMRC DT Treaty Passport scheme to apply in the Assignment
and Acceptance as described in Section 16.5(f)(i) and a UK Borrower which has complied with its obligations under Section
16.5(f)(ii) has filed a duly completed form DTTP2 but that form DTTP2 has been rejected by H.M. Revenue & Customs or H.M.
Revenue & Customs has not given the UK Borrowers authority to make payments to that Lender without a Tax Deduction within 60
days of the date of filing the form DTTP2, the UK Borrowers shall notify the Lender in writing and the Lender shall co-operate
in completing any additional procedural formalities necessary for that UK Borrower to obtain authorization to make a payment without
a Tax Deduction.

 

(g)         Stamp
Taxes. The UK Borrowers shall pay and, within three Business Days of demand, indemnify each Lender against any cost, loss or
liability that Lender incurs in relation to all stamp duty, registration and other similar Taxes payable in respect of any Loan
Document (including such taxes or duties payable in order to register or enforce any Loan Document) or the transactions occurring
under any of them.

 

(h)         Value
Added Tax.

 

(i)          All
amounts set out or expressed in a Loan Document to be payable by any party to any Lender which (in whole or in part) constitute
the consideration for a supply or supplies for VAT purposes shall be deemed to be exclusive of any VAT which is chargeable on such
supply or supplies, and accordingly, subject to Section 16.5(h)(ii) below, if VAT is or becomes chargeable on any supply
made by any Lender to any party under a Loan Document, that party shall pay to the Lender (in addition to and at the same time
as paying any other consideration for such supply) an amount equal to the amount of such VAT (and such Lender shall promptly provide
an appropriate VAT invoice to such party).

 

(ii)         If
VAT is or becomes chargeable on any supply made by any Lender (the “Supplier”) to any other Lender (the “Recipient”)
under a Loan Document, and any party other than the Recipient (the “Subject Party”) is required by the terms
of any Loan Document to pay an amount equal to the consideration for such supply to the Supplier (rather than being required to
reimburse the Recipient in respect of that consideration):

 

    	 	126	 

     

    

 

(A)         (where
the Supplier is the person required to account to the relevant tax authority for the VAT) the Subject Party shall also pay to the
Supplier (in addition to and at the same time as paying such amount) an amount equal to the amount of such VAT. The Recipient will
promptly pay to the Subject Party an amount equal to any credit or repayment obtained by the Recipient from the relevant tax authority
which the Recipient reasonably determines is in respect of such VAT.

 

(B)         (where
the Recipient is the person required to account to the relevant tax authority for the VAT) the Subject Party shall promptly, following
demand from the Recipient, pay to the Recipient an amount equal to VAT chargeable on that supply but only to the extent that the
Recipient reasonably determines that it is not entitled to credit or repayment from the relevant tax authority in respect of that
VAT.

 

(iii)        Where
a Loan Document requires any party to reimburse or indemnify a Lender for any cost or expense, that party shall reimburse or indemnify
(as the case may be) such Lender for the full amount of such cost or expense, including such part thereof as represents VAT, save
to the extent that such Lender reasonably determines that it is entitled to credit or repayment in respect of such VAT from the
relevant tax authority.

 

(iv)        Any
reference in this Section 16.5(h) to any party shall, at any time when such party is treated as a member of a group for
VAT purposes, include (where appropriate and unless the context otherwise requires) a reference to the representative member of
such group at such time (the term “representative member” to have the same meaning as in the United Kingdom Value Added
Tax Act 1994).

 

(v)         (v)         In
relation to any supply made by a Lender or Agent to any party under any Loan Document, if reasonably requested by such Lender or
Agent, that party shall promptly provide such Lender or Agent with details of that party’s VAT registration and such other
information as is reasonably requested in connection with such Lender’s or Agent’s VAT reporting requirements in relation
to such supply.

 

(i)          Determination.
Except as otherwise expressly provided in Section 16.5, a reference to “determines” or “determined”
in connection with tax provisions contained in Section 16.5 means a determination made in the absolute discretion of the
person making the determination.

 

17.         GENERAL
PROVISIONS.

 

17.1       Effectiveness.
This Agreement shall be binding and deemed effective when executed by Holdings, Intermediate Holdings, CP Holdings LLC, Buyer,
each Borrower, Agent, and each Lender whose signature is provided for on the signature pages hereof.

 

17.2       Section
Headings. Headings and numbers have been set forth herein for convenience only. Unless the contrary is compelled by the
context, everything contained in each Section applies equally to this entire Agreement.

 

17.3       Interpretation.
Neither this Agreement nor any uncertainty or ambiguity herein shall be construed against the Lender Group or Holdings or Intermediate
Holdings or CP Holdings LLC or any Loan Party, whether under any rule of construction or otherwise. On the contrary, this Agreement
has been reviewed by all parties and shall be construed and interpreted according to the ordinary meaning of the words used so
as to accomplish fairly the purposes and intentions of all parties hereto.

 

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17.4       Severability
of Provisions. Each provision of this Agreement shall be severable from every other provision of this Agreement for the
purpose of determining the legal enforceability of any specific provision.

 

17.5       Bank
Product Providers. Each Bank Product Provider in its capacity as such shall be deemed a third party beneficiary hereof
and of the provisions of the other Loan Documents for purposes of any reference in a Loan Document to the parties for whom Agent
is acting. Agent hereby agrees to act as agent for such Bank Product Providers and, by virtue of entering into a Bank Product Agreement,
the applicable Bank Product Provider shall be automatically deemed to have appointed Agent as its agent and to have accepted the
benefits of the Loan Documents. It is understood and agreed that the rights and benefits of each Bank Product Provider under the
Loan Documents consist exclusively of such Bank Product Provider’s being a beneficiary of the Liens and security interests
(and, if applicable, guarantees) granted to Agent and the right to share in payments and collections out of the Collateral as more
fully set forth herein. In addition, each Bank Product Provider, by virtue of entering into a Bank Product Agreement, shall be
automatically deemed to have agreed that Agent shall have the right, but shall have no obligation, to establish, maintain, relax,
or release reserves in respect of the Bank Product Obligations and that if reserves are established there is no obligation on the
part of Agent to determine or insure whether the amount of any such reserve is appropriate or not. In connection with any such
distribution of payments or proceeds of Collateral, Agent shall be entitled to assume no amounts are due or owing to any Bank Product
Provider unless such Bank Product Provider has provided a written certification (setting forth a reasonably detailed calculation)
to Agent as to the amounts that are due and owing to it and such written certification is received by Agent a reasonable period
of time prior to the making of such distribution. Agent shall have no obligation to calculate the amount due and payable with respect
to any Bank Products, but may rely upon the written certification of the amount due and payable from the applicable Bank Product
Provider. In the absence of an updated certification, Agent shall be entitled to assume that the amount due and payable to the
applicable Bank Product Provider is the amount last certified to Agent by such Bank Product Provider as being due and payable (less
any distributions made to such Bank Product Provider on account thereof). Borrowers may obtain Bank Products from any Bank Product
Provider, although Borrowers are not required to do so. Each Borrower acknowledges and agrees that no Bank Product Provider has
committed to provide any Bank Products and that the providing of Bank Products by any Bank Product Provider is in the sole and
absolute discretion of such Bank Product Provider. Notwithstanding anything to the contrary in this Agreement or any other Loan
Document, no provider or holder of any Bank Product shall have any voting or approval rights hereunder (or be deemed a Lender)
solely by virtue of its status as the provider or holder of such agreements or products or the Obligations owing thereunder, nor
shall the consent of any such provider or holder be required (other than in their capacities as Lenders, to the extent applicable)
for any matter hereunder or under any of the other Loan Documents, including as to any matter relating to the Collateral or the
release of Collateral or Guarantors.

 

17.6       Debtor-Creditor
Relationship. The relationship between the Lenders and Agent, on the one hand, and the Loan Parties, on the other hand,
is solely that of creditor and debtor. No member of the Lender Group has (or shall be deemed to have) any fiduciary relationship
or duty to any Loan Party arising out of or in connection with the Loan Documents or the transactions contemplated thereby, and
there is no agency or joint venture relationship between the members of the Lender Group, on the one hand, and the Loan Parties,
on the other hand, by virtue of any Loan Document or any transaction contemplated therein.

 

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17.7       Counterparts;
Electronic Execution. This Agreement may be executed in any number of counterparts and by different parties on separate
counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of which, when taken together,
shall constitute but one and the same Agreement. Delivery of an executed counterpart of this Agreement by telefacsimile or other
electronic method of transmission shall be equally as effective as delivery of an original executed counterpart of this Agreement.
Any party delivering an executed counterpart of this Agreement by telefacsimile or other electronic method of transmission also
shall deliver an original executed counterpart of this Agreement but the failure to deliver an original executed counterpart shall
not affect the validity, enforceability, and binding effect of this Agreement. The foregoing shall apply to each other Loan Document
mutatis mutandis.

 

17.8       Revival
and Reinstatement of Obligations. If any member of the Lender Group or any Bank Product Provider repays, refunds, restores,
or returns in whole or in part, any payment or property (including any proceeds of Collateral) previously paid or transferred to
such member of the Lender Group or such Bank Product Provider in full or partial satisfaction of any Obligation or on account of
any other obligation of any Loan Party under any Loan Document or any Bank Product Agreement, because the payment, transfer, or
the incurrence of the obligation so satisfied is asserted or declared to be void, voidable, or otherwise recoverable under any
law relating to creditors’ rights, including provisions of the Bankruptcy Code or any other Debtor Relief Law relating to
fraudulent transfers, preferences, or other voidable or recoverable obligations or transfers (each, a “Voidable Transfer”),
or because such member of the Lender Group or Bank Product Provider elects to do so on the reasonable advice of its counsel in
connection with a claim that the payment, transfer, or incurrence is or may be a Voidable Transfer, then, as to any such Voidable
Transfer, or the amount thereof that such member of the Lender Group or Bank Product Provider elects to repay, restore, or return
(including pursuant to a settlement of any claim in respect thereof), and as to all reasonable costs, expenses, and attorneys fees
of such member of the Lender Group or Bank Product Provider related thereto, (i) the liability of the Loan Parties with respect
to the amount or property paid, refunded, restored, or returned will automatically and immediately be revived, reinstated, and
restored and will exist and (ii) Agent’s Liens securing such liability shall be effective, revived, and remain in full force
and effect, in each case, as fully as if such Voidable Transfer had never been made. If, prior to any of the foregoing, (A) Agent’s
Liens shall have been released or terminated or (B) any provision of this Agreement shall have been terminated or cancelled, Agent’s
Liens, or such provision of this Agreement, shall be reinstated in full force and effect and such prior release, termination, cancellation
or surrender shall not diminish, release, discharge, impair or otherwise affect the obligation of any Loan Party in respect of
such liability or any Collateral securing such liability. This provision shall survive the termination of this Agreement and the
repayment in full of the Obligations.

 

17.9       Confidentiality.

 

(a)          Agent
and Lenders each individually (and not jointly or jointly and severally) agree that material, non-public information regarding
Sponsor, Buyer, Holdings and its Subsidiaries, their operations, assets, and existing and contemplated business plans (“Confidential
Information”) shall be treated by Agent and the Lenders in a confidential manner, and shall not be disclosed by Agent
and the Lenders to Persons who are not parties to this Agreement, except: (i) to attorneys for and other advisors, accountants,
auditors, and consultants to any member of the Lender Group and to employees, directors and officers of any member of the Lender
Group (the Persons in this clause (i), “Lender Group Representatives”) on a “need to know”
basis in connection with this Agreement and the transactions contemplated hereby and on a confidential basis, (ii) to Subsidiaries
and Affiliates of any member of the Lender Group (including the Bank Product Providers), provided that any such Subsidiary
or Affiliate shall have agreed to receive such information hereunder subject to the terms of this Section 17.9, (iii) as
may be required by regulatory authorities so long as such authorities are informed of the confidential nature of such information,
(iv) as may be required by statute, decision, or judicial or administrative order, rule, or regulation; provided that (x)
prior to any disclosure under this clause (iv), the disclosing party agrees to provide Borrowers with prior notice thereof,
to the extent that it is practicable to do so and to the extent that the disclosing party is permitted to provide such prior notice
to Borrowers pursuant to the terms of the applicable statute, decision, or judicial or administrative order, rule, or regulation
and (y) any disclosure under this clause (iv) shall be limited to the portion of the Confidential Information as may be
required by such statute, decision, or judicial or administrative order, rule, or regulation, (v) as may be agreed to in advance
in writing by Borrowers, (vi) as requested or required by any Governmental Authority pursuant to any subpoena or other legal process,
provided, that, (x) prior to any disclosure under this clause (vi) the disclosing party agrees to provide Borrowers
with prior written notice thereof, to the extent that it is practicable to do so and to the extent that the disclosing party is
permitted to provide such prior written notice to Borrowers pursuant to the terms of the subpoena or other legal process and (y)
any disclosure under this clause (vi) shall be limited to the portion of the Confidential Information as may be required
by such Governmental Authority pursuant to such subpoena or other legal process, (vii) as to any such information that is or becomes
generally available to the public (other than as a result of prohibited disclosure by Agent or the Lenders or the Lender Group
Representatives), (viii) in connection with any assignment, participation or pledge of any Lender’s interest under this Agreement,
provided that prior to receipt of Confidential Information any such assignee, participant, or pledgee shall have agreed
in writing to receive such Confidential Information either subject to the terms of this Section 17.9 or pursuant to confidentiality
requirements substantially similar to those contained in this Section 17.9 (and such Person may disclose such Confidential
Information to Persons employed or engaged by them as described in clause (i) above), (ix) in connection with any litigation
or other adversary proceeding involving parties hereto which such litigation or adversary proceeding involves claims related to
the rights or duties of such parties under this Agreement or the other Loan Documents; provided, that, prior to any disclosure
to any Person (other than any Loan Party, Agent, any Lender, any of their respective Affiliates, or their respective counsel) under
this clause (ix) with respect to litigation involving any Person (other than any Borrower, Agent, any Lender, any of their
respective Affiliates, or their respective counsel), the disclosing party agrees to provide Borrowers with prior written notice
thereof, and (x) in connection with, and to the extent reasonably necessary for, the exercise of any secured creditor remedy under
this Agreement or under any other Loan Document.

 

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(b)          Anything
in this Agreement to the contrary notwithstanding, Agent may disclose information concerning the terms and conditions of this Agreement
and the other Loan Documents to loan syndication and pricing reporting services or in its marketing or promotional materials, with
such information to consist of deal terms and other information customarily found in such publications or marketing or promotional
materials and may otherwise use the name, logos, and other insignia of any Borrower or the other Loan Parties and the Commitments
provided hereunder in any “tombstone” or other advertisements, on its website or in other marketing materials of Agent.

 

(c)          Each
Loan Party agrees that Agent may make materials or information provided by or on behalf of Borrowers hereunder (collectively, “Borrower
Materials”) available to the Lenders by posting the Communications on the Platform. The Platform is provided “as
is” and “as available.” Agent does not warrant the accuracy or completeness of the Borrower Materials, or the
adequacy of the Platform and expressly disclaim liability for errors or omissions in the communications. No warranty of any kind,
express, implied or statutory, including any warranty of merchantability, fitness for a particular purpose, non-infringement of
third party rights or freedom from viruses or other code defects, is made by Agent in connection with the Borrower Materials or
the Platform. In no event shall Agent or any of the Agent-Related Persons have any liability to the Loan Parties, any Lender or
any other person for damages of any kind, including direct or indirect, special, incidental or consequential damages, losses or
expenses (whether in tort, contract or otherwise) arising out of any Loan Party’s or Agent’s transmission of communications
through the Internet, except to the extent the liability of such person is found in a final non-appealable judgment by a court
of competent jurisdiction to have resulted from such person’s gross negligence or willful misconduct. Each Loan Party further
agrees that certain of the Lenders may be “public-side” Lenders (i.e., Lenders that do not wish to receive material
non-public information with respect to the Loan Parties or their securities) (each, a “Public Lender”). The
Loan Parties shall be deemed to have authorized Agent and its Affiliates and the Lenders to treat Borrower Materials marked “PUBLIC”
or otherwise at any time filed with the SEC as not containing any material non-public information with respect to the Loan Parties
or their securities for purposes of United States federal and state securities laws. All Borrower Materials marked “PUBLIC”
are permitted to be made available through a portion of the Platform designated as “Public Investor” (or another similar
term). Agent and its Affiliates and the Lenders shall be entitled to treat any Borrower Materials that are not marked “PUBLIC”
or that are not at any time filed with the SEC as being suitable only for posting on a portion of the Platform not marked as “Public
Investor” (or such other similar term).

 

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17.10     Survival.
All representations and warranties made by the Loan Parties in the Loan Documents and in the certificates or other instruments
delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon
by the other parties hereto and shall survive the execution and delivery of the Loan Documents and the making of any Loans and
issuance of any Letters of Credit, regardless of any investigation made by any such other party or on its behalf and notwithstanding
that Agent, Issuing Bank, or any Lender may have had notice or knowledge of any Default or Event of Default or incorrect representation
or warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as the principal
of, or any accrued interest on, any Loan or any fee or any other amount payable under this Agreement is outstanding or unpaid or
any Letter of Credit is outstanding and so long as the Commitments have not expired or been terminated.

 

17.11     Patriot
Act. Each Lender that is subject to the requirements of the Patriot Act hereby notifies the Loan Parties that pursuant
to the requirements of the Patriot Act, it is required to obtain, verify and record information that identifies each Loan Party,
which information includes the name and address of each Loan Party and other information that will allow such Lender to identify
each Loan Party in accordance with the Patriot Act. In addition, Agent and each Lender shall have the right to periodically conduct
due diligence on all Loan Parties, their senior management and key principals and legal and beneficial owners. Each Loan Party
agrees to cooperate in respect of the conduct of such due diligence and further agrees that the reasonable costs and charges for
any such due diligence by Agent shall constitute Lender Group Expenses hereunder and be for the account of Borrowers.

 

17.12     Judgment
Currency. If, for the purposes of obtaining judgment in any court, it is necessary to convert a sum due hereunder or any
other Loan Document in one currency into another currency, the rate of exchange used shall be that at which in accordance with
normal banking procedures Agent could purchase the first currency with such other currency on the Business Day preceding that on
which final judgment is given. The obligation of each Borrower in respect of any such sum due from it to Agent or any Lender hereunder
or under the other Loan Documents shall, notwithstanding any judgment in a currency (the “Judgment Currency”)
other than that in which such sum is denominated in accordance with the applicable provisions of this Agreement (the “Agreement
Currency”), be discharged only to the extent that on the Business Day following receipt by Agent or such Lender, as the
case may be, of any sum adjudged to be so due in the Judgment Currency, Agent or such Lender, as the case may be, may in accordance
with normal banking procedures purchase the Agreement Currency with the Judgment Currency. If the amount of the Agreement Currency
so purchased is less than the sum originally due to Agent or any Lender from any Borrower in the Agreement Currency, such Borrower
agrees, as a separate obligation and notwithstanding any such judgment, to indemnify Agent or such Lender, as the case may be,
against such loss. If the amount of the Agreement Currency so purchased is greater than the sum originally due to Agent or any
Lender in such currency, Agent or such Lender, as the case may be, agrees to return the amount of any excess to such Borrower (or
to any other Person who may be entitled thereto under applicable law).

 

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17.13     Integration.
This Agreement, together with the other Loan Documents, reflects the entire understanding of the parties with respect to the
transactions contemplated hereby and shall not be contradicted or qualified by any other agreement, oral or written, before the
date hereof. The foregoing to the contrary notwithstanding, all Bank Product Agreements, if any, are independent agreements governed
by the written provisions of such Bank Product Agreements, which will remain in full force and effect, unaffected by any repayment,
prepayments, acceleration, reduction, increase, or change in the terms of any credit extended hereunder, except as otherwise expressly
provided in such Bank Product Agreement.

 

17.14     Administrative
Borrowers

 

(a)          Target
as Administrative Borrower for US Borrowers. Each US Borrower hereby irrevocably appoints Target as the borrowing agent
and attorney-in-fact for all US Borrowers (the “US Administrative Borrower”) which appointment shall remain
in full force and effect unless and until Agent shall have received prior written notice signed by each US Borrower that such appointment
has been revoked and that another US Borrower has been appointed US Administrative Borrower. Each US Borrower hereby irrevocably
appoints and authorizes the US Administrative Borrower (a) to provide Agent with all notices with respect to US Revolving Loans
and Letters of Credit obtained for the benefit of any US Borrower and all other notices and instructions under this Agreement and
the other Loan Documents (and any notice or instruction provided by US Administrative Borrower shall be deemed to be given by US
Borrowers hereunder and shall bind each US Borrower), (b) to receive notices and instructions from members of the Lender Group
(and any notice or instruction provided by any member of the Lender Group to the US Administrative Borrower in accordance with
the terms hereof shall be deemed to have been given to each US Borrower), and (c) to take such action as the US Administrative
Borrower deems appropriate on its behalf to obtain US Revolving Loans and Letters of Credit and to exercise such other powers as
are reasonably incidental thereto to carry out the purposes of this Agreement. It is understood that the handling of the US Loan
Account and Collateral in a combined fashion, as more fully set forth herein, is done solely as an accommodation to US Borrowers
in order to utilize the collective borrowing powers of US Borrowers in the most efficient and economical manner and at their request,
and that Lender Group shall not incur liability to any US Borrower as a result hereof. Each US Borrower expects to derive benefit,
directly or indirectly, from the handling of the US Loan Account and the Collateral in a combined fashion since the successful
operation of each US Borrower is dependent on the continued successful performance of the integrated group. To induce the Lender
Group to do so, and in consideration thereof, each Borrower hereby jointly and severally agrees to indemnify each member of the
Lender Group and hold each member of the Lender Group harmless against any and all liability, expense, loss or claim of damage
or injury, made against the Lender Group by any US Borrower or by any third party whosoever, arising from or incurred by reason
of (i) the handling of the US Loan Account and Collateral of US Borrowers as herein provided, or (ii) the Lender Group’s
relying on any instructions of the US Administrative Borrower, except that US Borrowers will have no liability to
the relevant Agent-Related Person or Lender-Related Person under this Section 17.14(a) with respect to any liability that
has been finally determined by a court of competent jurisdiction to have resulted solely from the gross negligence or willful misconduct
of such Agent-Related Person or Lender-Related Person, as the case may be.

 

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(b)          Camfaud
Concrete as Administrative Borrower for UK Borrowers. Each UK Borrower hereby irrevocably appoints Camfaud Concrete as
the borrowing agent and attorney-in-fact for all UK Borrowers (the “UK Administrative Borrower”) which appointment
shall remain in full force and effect unless and until Agent shall have received prior written notice signed by each UK Borrower
that such appointment has been revoked and that another UK Borrower has been appointed UK Administrative Borrower. Each UK Borrower
hereby irrevocably appoints and authorizes the UK Administrative Borrower (a) to provide Agent with all notices with respect to
UK Revolving Loans obtained for the benefit of any UK Borrower and all other notices and instructions under this Agreement and
the other Loan Documents (and any notice or instruction provided by UK Administrative Borrower shall be deemed to be given by UK
Borrowers hereunder and shall bind each UK Borrower), (b) to receive notices and instructions from members of the Lender Group
(and any notice or instruction provided by any member of the Lender Group to the UK Administrative Borrower in accordance with
the terms hereof shall be deemed to have been given to each UK Borrower), and (c) to take such action as the UK Administrative
Borrower deems appropriate on its behalf to obtain UK Revolving Loans and to exercise such other powers as are reasonably incidental
thereto to carry out the purposes of this Agreement. It is understood that the handling of the UK Loan Account and Collateral in
a combined fashion, as more fully set forth herein, is done solely as an accommodation to UK Borrowers in order to utilize the
collective borrowing powers of UK Borrowers in the most efficient and economical manner and at their request, and that Lender Group
shall not incur liability to any UK Borrower as a result hereof. Each UK Borrower expects to derive benefit, directly or indirectly,
from the handling of the UK Loan Account and the Collateral in a combined fashion since the successful operation of each UK Borrower
is dependent on the continued successful performance of the integrated group. To induce the Lender Group to do so, and in consideration
thereof, each Borrower hereby jointly and severally agrees to indemnify each member of the Lender Group and hold each member of
the Lender Group harmless against any and all liability, expense, loss or claim of damage or injury, made against the Lender Group
by any UK Borrower or by any third party whosoever, arising from or incurred by reason of (i) the handling of the UK Loan Account
and Collateral of UK Borrowers as herein provided, or (ii) the Lender Group’s relying on any instructions of the UK Administrative
Borrower, except that UK Borrowers will have no liability to the relevant Agent-Related Person or Lender-Related
Person under this Section 17.14(b) with respect to any liability that has been finally determined by a court of competent
jurisdiction to have resulted solely from the gross negligence or willful misconduct of such Agent-Related Person or Lender-Related
Person, as the case may be.

 

17.15     Intercreditor
Agreement. Notwithstanding anything to the contrary in this Agreement or in any other Loan Document: (a) the Liens granted
to Agent and/or UK Security Agent in favor of each member of the Lender Group and the Bank Product Providers pursuant to the Loan
Documents and the exercise of any right related to any Collateral shall be subject, in each case, to the terms of the Intercreditor
Agreement, (b) in the event of any conflict between the express terms and provisions of this Agreement or any other Loan Document,
on the one hand, and of the Intercreditor Agreement, on the other hand, the terms and provisions of the Intercreditor Agreement
shall control, and (c) each Lender authorizes, and, by accepting the benefits of the Collateral, each Bank Product Provider shall
be deemed to have authorized, Agent to execute the Intercreditor Agreement on behalf of such Lender, and such Lender agrees to
be bound by the terms thereof.

 

17.16     Acknowledgement
and Consent to Bail-In of EEA Financial Institutions. Notwithstanding anything to the contrary in any Loan Document or
in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability
of any EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to
the Write-Down and Conversion Powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to
be bound by:

 

(a)         the
application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which
may be payable to it by any party hereto that is an EEA Financial Institution; and

 

(b)         the
effects of any Bail-in Action on any such liability, including, if applicable:

 

(i)          a
reduction in full or in part or cancellation of any such liability;

 

    	 	133	 

     

    

 

(ii)         a
conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial Institution,
its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or
other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement
or any other Loan Document; or

 

(iii)        the
variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of any EEA Resolution
Authority.

 

17.17     UK
“Know your customer” checks.

 

(a)          If
(i) the introduction of or any change in (or in the interpretation, administration or application of) any law, regulation, applicable
market guidance or internal policy in relation to the periodic review and/or updating of customer information made after the date
of this Agreement; (ii) any change in the status, or composition of the shareholders, of a UK Loan Party after the date of this
Agreement; or (iii) a proposed assignment or transfer by a Lender of any of its rights and obligations under this Agreement to
a party that is not a Lender prior to such assignment or transfer, obliges Agent or any Lender (or, in the case of clause (iii)
above, any prospective new Lender) to comply with “know your customer” or similar identification procedures in circumstances
where the necessary information is not already available to it, each UK Loan Party shall promptly upon the request of Agent or
any Lender supply, or procure the supply of, such documentation and other evidence as is reasonably requested by Agent (for itself
or on behalf of any Lender) or any Lender (for itself or, in the case of the event described in clause (iii) above, on behalf
of any prospective new Lender) in order for Agent, such Lender or, in the case of the event described in clause (iii) above,
any prospective new Lender to carry out and be satisfied it has complied with all necessary “know your customer” or
other similar checks under all applicable laws and regulations pursuant to the transactions contemplated in the Loan Documents.

 

(b)          Each
Lender shall promptly upon the request of Agent supply, or procure the supply of, such documentation and other evidence as is reasonably
requested by Agent (for itself) in order for Agent to carry out and be satisfied it has complied with all necessary “know
your customer” or other similar checks under all applicable laws and regulations pursuant to the transactions contemplated
in the Loan Documents.

 

(c)          UK
Administrative Borrower shall, by not less than 10 Business Days’ prior written notice to Agent, notify Agent (which shall
promptly notify the UK Lenders) of its intention to request that one of its Subsidiaries becomes a party hereto as a UK Borrower
in accordance with the terms hereof.

 

(d)         Following
the giving of any notice pursuant to Section 17.17(c), if the accession of such Subsidiary obliges Agent, UK Security Agent
or any UK Lender to comply with “know your customer” or similar identification procedures in circumstances where the
necessary information is not already available to it, the Company shall promptly upon the request of Agent, UK Security Agent or
any UK Lender supply, or procure the supply of, such documentation and other evidence as is requested by Agent (for itself or on
behalf of any UK Lender) or UK Security Agent or any UK Lender (for itself or on behalf of any prospective new UK Lender) in order
for Agent, UK Security Agent or such UK Lender or any prospective new UK Lender to carry out and be satisfied it has complied with
all necessary “know your customer” or other similar checks under all applicable laws and regulations pursuant to the
accession of such Subsidiary to this Agreement as a UK Borrower.

 

17.18     [Reserved].

 

    	 	134	 

     

    

 

17.19     Process
Agent. Borrowers shall cause each UK Loan Party to irrevocably appoint a process agent reasonably satisfactory to Agent
(the “Process Agent”), as its agent to receive on behalf of each such UK Loan Party, service of the summons
and complaint and any other process which may be served in any action or proceeding in connection with any Loan Document or the
Obligations thereunder, for a term ending no earlier than one year immediately following the Maturity Date. Such service may be
made by mailing or delivering a copy of such process to each UK Loan Party, in care of the Process Agent at the address specified
in the instrument whereby the Process Agent accepts its appointment (a copy of which will be delivered to Agent upon receipt thereof),
and Borrowers shall cause each such UK Loan Party to irrevocably authorize and direct the Process Agent to accept such service
on its behalf. Borrowers shall cause each UK Loan Party to covenant and agree that, for so long as it shall be bound under any
Loan Document, it shall (a) maintain a duly appointed agent for the service of summons and other legal process in the County of
San Francisco, California, United States of America, for the purposes of any legal action, suit or proceeding brought by any party
in respect of this Agreement or such other Loan Document and (b) keep Agent advised of the identity and location of such agent.
If for any reason there is no authorized agent for service of process in California, United States of America, Borrowers shall
cause each UK Loan Party to irrevocably consent to the service of process out of the said courts by mailing copies thereof by registered
United States air mail postage prepaid to it at its address specified in Section 11. Nothing in this Section shall affect
the right of any member of the Lender Group to (i) commence legal proceedings or otherwise sue any UK Loan Party in the country
in which it is domiciled or in any other court having jurisdiction over such UK Loan Party or (ii) serve process upon any UK Loan
Party in any manner authorized by the laws of any such jurisdiction.

 

17.20     Assignment
and Delegation to and Assumption. Effective immediately following the consummation of the Concrete Pumping Acquisition
and the initial Borrowing on the Closing Date, and without any further action by or on behalf of any of the parties hereto or any
other Person, each of the Target, Brundage Pumping, Eco-Pan US, Camfaud Concrete, and Premier Concrete, hereby irrevocably and
unconditionally (a) assumes and agrees to punctually pay, perform and discharge when due each of the Obligations (in the case of
Target, Brundage Pumping, and Eco-Pan US), the UK Obligations (in the case of Camfaud Concrete and Premier Concrete), and each
and every debt, covenant and agreement incurred, made or to be paid, performed or discharged by the Borrowers under the Loan Documents
in accordance with their terms, (b) agrees to be bound by all the terms, provisions and conditions of the Loan Documents applicable
to the Borrowers and (C) agrees that it will be responsible for and deemed to have made all the representations and warranties
of the Borrowers, whenever made or deemed to have been made, in the case of each of the foregoing clauses, with the same force
and effect as if each such Person were an original Borrower under the Loan Documents prior to the consummation of the Concrete
Pumping Acquisition and the initial Borrowing on the Closing Date; provided, that in no event shall the UK Borrowers or
any of their respective Subsidiaries be obligated or have any liability in respect of the US Obligations. Upon the effectiveness
of the assignment and assumption provided for above, each such Person will be Borrowers for all purposes of the Loan Documents.

 

[Signature pages to follow.]

 

    	 	135	 

     

    

 

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

 

	 	HOLDINGS:
	 	 
	 	CONCRETE PUMPING HOLDINGS ACQUISITION CORP., a Delaware corporation (to be renamed Concrete Pumping Holdings, Inc. upon consummation of the Concrete Pumping Acquisition)

 

	 	By:	/s/ Iain Humphries
	 	Name:	Iain Humphries
	 	Title:	Chief Financial Officer

 

	 	INTERMEDIATE HOLDINGS:
	 	 
	 	CONCRETE PUMPING INTERMEDIATE ACQUISITION CORP., a Delaware corporation

 

	 	By:	/s/ Tariq Osman
	 	Name:	Tariq Osman
	 	Title:	President

 

	 	CP HOLDINGS LLC:
	 	 
	 	CONCRETE PUMPING INTERMEDIATE HOLDINGS, LLC, a Delaware limited liability company

 

	 	By:	/s/ Iain Humphries
	 	Name:	Iain Humphries
	 	Title:	Chief Financial Officer, Secretary and Treasurer

 

	 	BUYER:
	 	 
	 	INDUSTREA ACQUISITION CORP., a Delaware corporation

 

	 	By:	/s/ Tariq Osman
	 	Name:	Tariq Osman
	 	Title:	Executive Vice President

 

[Concrete Pumping - Signature Page to Credit
Agreement]

 

     

     

    

 

	 	BORROWERS:
	 	 
	 	CONCRETE PUMPING MERGER SUB INC., a Delaware corporation (to be merged with and into Concrete Pumping Holdings, Inc., which is to be renamed Brundage Bone Concrete Pumping Holdings Inc. upon consummation of the Concrete Pumping Acquisition)

 

	 	By:	/s/ Tariq Osman
	 	Name:	Tariq Osman
	 	Title:	President

 

	 	CONCRETE PUMPING HOLDINGS, INC., a Delaware corporation (which is to be renamed Brundage Bone Concrete Pumping Holdings Inc. upon consummation of the Concrete Pumping Acquisition)

 

	 	By:	/s/ Iain Humphries
	 	Name:	Iain Humphries
	 	Title:	Chief Financial Officer, Secretary and Treasurer

 

	 	BRUNDAGE-BONE CONCRETE PUMPING, INC., a Colorado corporation

 

	 	By:	/s/ Iain Humphries
	 	Name:	Iain Humphries
	 	Title:	Chief Financial Officer, Secretary and Treasurer

 

	 	ECO-PAN, INC., a Colorado corporation

 

	 	By:	/s/ Iain Humphries
	 	Name:	Iain Humphries
	 	Title:	Chief Financial Officer, Secretary and Treasurer

 

[Concrete Pumping - Signature Page to Credit
Agreement]

 

     

     

    

 

	 	BORROWERS (CONT’D):
	 	 
	 	CAMFAUD CONCRETE PUMPS LIMITED, a private limited company incorporated and registered under the laws of England and Wales with Company Number 02635232

 

	 	By:	/s/ David Faud
	 	 	Name: David Faud
	 	 	Title: Director

 

	 	PREMIER CONCRETE PUMPING LIMITED, a private limited company incorporated and registered under the laws of England and Wales with Company Number 01714938

 

	 	By:	/s/ David Faud
	 	 	Name: David Faud
	 	 	Title: Director

 

[Concrete Pumping - Signature Page to Credit
Agreement]

 

     

     

    

 

	 	AGENT AND US LENDER:

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as Agent and as a US Lender

 

	 	By:	/s/ Kathryn A. Scharre
	 	 	Name: Kathryn A. Scharre
	 	 	Title: Its Authorized Signatory

 

[Concrete Pumping - Signature Page to Credit
Agreement]

 

     

     

    

 

	 	UK SECURITY AGENT AND UK LENDER:
	 	 
	 	WELLS FARGO CAPITAL FINANCE (UK) LIMITED, as UK Security Agent and as UK Lender

 

	 	By:	/s/ Ian Conway
	 	 	Name: Ian Conway
	 	 	Title: Its Authorized Signatory

 

[Concrete Pumping - Signature Page to Credit
Agreement]

 

     

     

    

 

Schedule 1.1

 

As used in the Agreement, the following terms shall have the
following definitions:

 

“ABL Priority
Collateral” has the meaning set forth in the Intercreditor Agreement.

 

“Acceptable
Intercreditor Agreement” means the Intercreditor Agreement or another intercreditor agreement that is reasonably satisfactory
to the Agent and the Borrowers.

 

“Account”
means an account (as that term is defined in the Code).

 

“Account Debtor”
means any Person who is obligated on an Account, chattel paper, or a general intangible.

 

“Account Party”
has the meaning specified therefor in Section 2.11(h) of this Agreement.

 

“Accounting
Change” means any change in accounting principles required by the promulgation of any rule, regulation, pronouncement
or opinion by the Financial Accounting Standards Board of the American Institute of Certified Public Accountants (or successor
thereto or any agency with similar functions).

 

“Acquisition”
means (a) the purchase or other acquisition by a Person or its Subsidiaries of all or substantially all of the assets of (or any
division or business line of) any other Person, or (b) the purchase or other acquisition (whether by means of a merger, consolidation,
or otherwise) by a Person or its Subsidiaries of all of the Equity Interests of any other Person.

 

“Additional
Lender” means, at any time, any bank, other financial institution or institutional investor that, in each case, is not
an existing Lender and that agrees to provide any portion of any Incremental Revolving Commitment pursuant to an Incremental Agreement
pursuant to Section 2.16

 

“Administrative
Borrower” means a US Administrative Borrower or a UK Administrative Borrower, as the context requires.

 

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

 

“Administrative
Questionnaire” has the meaning specified therefor in Section 13.1(a) of this Agreement.

 

“Affected Lender”
has the meaning specified therefor in Section 2.13(b) of this Agreement.

 

     

     

    

 

“Affiliate”
means, as applied to any Person, any other Person who controls, is controlled by, or is under common control with, such Person.
For purposes of this definition, “control” means the possession, directly or indirectly through one or more intermediaries,
of the power to direct the management and policies of a Person, whether through the ownership of Equity Interests, by contract,
or otherwise; provided that for purposes of the definition of Eligible Accounts and Section 6.8 of this Agreement:
(a) if any Person owns directly or indirectly 10% or more of the Equity Interests having ordinary voting power for the election
of directors or other members of the governing body of a Person or 10% or more of the partnership or other ownership interests
of a Person (other than as a limited partner of such Person), then both such Persons shall be Affiliates of each other, (b) each
director (or comparable manager) of a Person shall be deemed to be an Affiliate of such Person, and (c) each partnership in which
a Person is a general partner shall be deemed an Affiliate of such Person.

 

“Agent”
has the meaning assigned in the Preamble hereto.

 

“Agent-Related
Persons” means Agent or UK Security Agent, together with its Affiliates, officers, directors, employees, attorneys, delegates
and agents.

 

“Agent’s
Applicable Account” means Agent’s US Account or Agent’s UK Account, as the context requires.

 

“Agent’s
Liens” means the Liens granted by Holdings or its Subsidiaries to Agent and/or UK Security Agent under the Loan Documents
and securing the Obligations.

 

“Agent’s
UK Account” means the Deposit Account of Agent identified on Schedule A-1 as Agent’s UK Account (or such
other Deposit Account of Agent that has been designated as such, in writing, by Agent to UK Borrowers and the Lenders).

 

“Agent’s
US Account” means the Deposit Account of Agent identified on Schedule A-1 as Agent’s US Account (or such
other Deposit Account of Agent that has been designated as such, in writing, by Agent to US Borrowers and the Lenders).

 

“Aggregate Borrowing
Base” means, as of any date of determination, the sum of the US Borrowing Base and the Dollar Equivalent of the UK Borrowing
Base.

 

“Agreement”
means the Credit Agreement to which this Schedule 1.1 is attached, as the same may be amended, amended and restated, restated,
supplemented or otherwise modified from time to time.

 

“Agreement Currency”
has the meaning specified therefor in Section 17.12 of this Agreement.

 

“Anti-Corruption
Laws” means the FCPA, the UK Bribery Act of 2010, as amended, and all other applicable laws and regulations or ordinances
concerning or relating to bribery, money laundering or corruption in any jurisdiction in which any Loan Party or any of its Subsidiaries
or Affiliates is located or is doing business.

 

“Anti-Money
Laundering Laws” means the applicable laws or regulations in any jurisdiction in which any Loan Party or any of its Subsidiaries
or Affiliates is located or is doing business that relates to money laundering, any predicate crime to money laundering, or any
financial record keeping and reporting requirements related thereto.

 

“Applicable
Currency” means (a) Dollars, with respect to Obligations denominated in Dollars and (b) GBP, with respect to Obligations
denominated in GBP.

 

    	 	-2-	 

     

    

 

“Applicable
Margin” means, as of any date of determination and with respect to Base Rate Loans, or LIBOR Rate Loans, as applicable,
the applicable margin set forth in the following table that corresponds to the Quarterly Average Excess Availability of Borrowers
for the most recently completed calendar quarter; provided, that for the period from the Closing Date through and including
March 31, 2019, the Applicable Margin shall be set at the margin in the row styled “Level III”:

 

	Level	 	Quarterly Average

Excess Availability	 	Applicable Margin

Relative to Base Rate

Loans (the “Base

Rate Margin”)	 	Applicable Margin

Relative to LIBOR

Rate Loans (the

“LIBOR Rate

Margin”)
	 	 	 	 	 	 	 
	I	 	3 66.67% of the Maximum Revolver Amount	 	0.75 percentage points	 	1.75 percentage points
	 	 	 	 	 	 	 
	II	 	< 66.67% of the Maximum Revolver Amount and 3 33.33% of the Maximum Revolver Amount	 	1.00 percentage points	 	2.00 percentage points
	 	 	 	 	 	 	 
	III	 	< 33.33% of the Maximum Revolver Amount	 	1.25 percentage points	 	2.25 percentage points

 

The Applicable Margin
shall be re-determined as of the first day of each calendar quarter by Agent.

 

“Applicable
Unused Line Fee Percentage” means, as of any date of determination, the applicable percentage set forth in the following
table that corresponds to the Quarterly Average Revolver Usage of Borrowers for the most recently completed calendar quarter as
determined by Agent in its Permitted Discretion; provided, that for the period from the Closing Date through and including
March 31, 2019, the Applicable Unused Line Fee Percentage shall be set at the rate in the row styled “Level II”:

 

	Level	 	Quarterly Average Revolver Usage	 	Applicable Unused Line Fee

Percentage
	 	 	 	 	 
	I	 	3 50% of the Maximum Revolver Amount	 	0.25 percentage points
	 	 	 	 	 
	II	 	< 50% of the Maximum Revolver Amount	 	0.50 percentage points

 

The Applicable Unused
Line Fee Percentage shall be re-determined on the first day of each successive three-month period following the date above by Agent

 

“Application
Event” means the occurrence of (a) a failure by Borrowers to repay all of the Obligations in full on the Maturity Date,
or (b) an Event of Default and the election by Agent or the Required Lenders to require that payments and proceeds of Collateral
be applied pursuant to Section 2.4(b)(iii) or Section 2.4(b)(iv) of this Agreement, as the case may be.

 

“Appraised Eligible
Rolling Stock Collateral” means Eligible Rolling Stock Collateral that is subject to a recent appraisal thereof delivered
to Agent in form and substance satisfactory to Agent.

 

    	 	-3-	 

     

    

 

“Arranger”
means Wells Fargo, in its capacities as sole lead arranger and sole Bookrunner.

 

“Assignee”
has the meaning specified therefor in Section 13.1(a) of this Agreement.

 

“Assignment
and Acceptance” means an Assignment and Acceptance Agreement substantially in the form of Exhibit A-1 to the Agreement.

 

“Available Amount” means, at any
time, an amount equal to, without duplication:

 

(a)          the
sum of:

 

(i)          the
greater of $10,000,000 and 12% of Consolidated Adjusted EBITDA for the most recently ended Test Period; plus

 

(ii)         the
Retained Excess Cash Flow Amount; plus

 

(iii)        the
amount of any capital contribution or the proceeds of any issuance of Capital Stock (other than any amounts (x) constituting an
Available Excluded Contribution Amount or proceeds of an issuance of Disqualified Capital Stock, (y) received from the Target or
any Restricted Subsidiary or (z) otherwise applied to make Restricted Payments pursuant to Section 6.4(a)(ii)(B) or Restricted
Debt Payments pursuant to Section 6.4(b)(iii)) received in cash and Cash Equivalents (up to fair market value) by the Target,
from and including the day immediately following the Closing Date; plus

 

(iv)        the
net proceeds of any Indebtedness or Disqualified Capital Stock received in cash and Cash Equivalents (up to fair market value),
in each case, of the Target or any of its Restricted Subsidiaries issued after the Closing Date (other than Indebtedness or such
Disqualified Capital Stock issued to the Target or any of its Restricted Subsidiaries), which has been converted into or exchanged
for Capital Stock of the Target or any Parent Company that does not constitute Disqualified Capital Stock, in each case, during
the period from and including the day immediately following the Closing Date through and including such time; plus

 

(v)         the
net proceeds received in cash and Cash Equivalents (up to fair market value) by the Target or any Restricted Subsidiary during
the period from and including the day immediately following the Closing Date through and including such time in connection with
the Disposition to any Person (other than the Borrower or any Restricted Subsidiary) of any Investment made pursuant to Section
6.6(q)(i) (in an amount not to exceed the original amount of such Investment); plus

 

(vi)        to
the extent not already reflected as a return of capital with respect to such Investment for purposes of determining the amount
of such Investment, the proceeds received in cash and Cash Equivalents (up to fair market value) by the Target or any of its Restricted
Subsidiaries during the period from and including the day immediately following the Closing Date through and including such time
in connection with cash returns, cash profits, cash distributions and similar cash amounts, including cash principal repayments
of loans, in each case received in respect of any Investment made after the Closing Date pursuant to Section 6.6(q)(i) (in
an amount not to exceed the original amount of such Investment); plus

 

(vii)       without
duplication, (A) the amount of any Investments by the Target or any Restricted Subsidiary pursuant to Section 6.6(q)(i)
in any Unrestricted Subsidiary (in an amount not to exceed the original amount of such Investment) that has been re-designated
as a Restricted Subsidiary or has been merged, consolidated or amalgamated with or into, or is liquidated, wound up or dissolved
into, the Target or any Restricted Subsidiary and (B) the fair market value (as reasonably determined by the Target) of the property
or assets of any Unrestricted Subsidiary that have been transferred, conveyed or otherwise distributed (in an amount not to exceed
the original amount of the Investment in such Unrestricted Subsidiary) to the Target or any Restricted Subsidiary, in each case,
during the period from and including the day immediately following the Closing Date through and including such time; plus

 

    	 	-4-	 

     

    

 

(viii)      the
amount of any Declined Proceeds; plus

 

(ix)         the
net proceeds received in cash and Cash Equivalents (up to fair market value) of any non-ordinary course sale or other Disposition
of assets that (A) are not required to be used to prepay the Term Loan Facility pursuant to Section 2.08(b)(ii) of the Term
Loan Facility Agreement because such net cash proceeds do not exceed any threshold therein and (B) are not required to be used
to prepay loans outstanding under this Agreement, minus

 

(b)         an
amount equal to the sum of (i) Restricted Payments made pursuant to Section 6.4(a)(iii)(A), plus (ii) Restricted Debt Payments
made pursuant to Section 6.4(b)(iv)(A), plus (iii) Investments made pursuant to Section 6.6(q)(i), in each
case, after the Closing Date and prior to such time, or contemporaneously therewith;

 

provided that,
(i) except with respect to amounts described in clause (a)(iii) above, (1) the use of any amounts hereunder pursuant to Section
6.4(a)(iii)(A) or Section 6.4(b)(iv)(A) shall not be available to the extent that any Event of Default has occurred
and is continuing and (2) the use of any amounts hereunder pursuant to Section 6.4(a)(iii)(A) or Section 6.4(b)(iv)(A)
shall not be available to the extent that, on a Pro Forma Basis, the Total Leverage Ratio would exceed 4.20:1.00 and (ii) the Target
shall not be permitted to use clause (ii) of the Available Amount for Restricted Payments to the extent such Restricted
Payment is made from Retained Excess Cash Flow Amount that results from the application of the final proviso to Section 2.08(b)(i)
of the Term Loan Facility Agreement.

 

“Available Excluded
Contribution Amount” means, at any time, an amount equal to:

 

(a)         the
aggregate amount of cash or Cash Equivalents, received by the Target or any of its Restricted Subsidiaries after the Closing Date
from:

 

(1)         contributions
in respect of Qualified Capital Stock (other than any amounts received from the Target), and

 

(2)         the
sale of Qualified Capital Stock of the Target (other than (i) to the Target or pursuant to any management equity plan or stock
option plan or any other management or employee benefit plan and (ii) any amounts otherwise applied to make Restricted Payments
pursuant to Section 6.4(a)(ii)(B) or Restricted Debt Payments pursuant to Section 6.4(b)(iii)),

 

in each case, designated
as an Available Excluded Contribution Amount pursuant to a certificate of a Responsible Officer of the Target delivered to the
Administrative Agent on or promptly after the date the relevant capital contribution is made or the relevant proceeds are received,
as the case may be, and which are, for the avoidance of doubt, excluded from the calculation of the Available Amount; minus

 

(b)         an
amount equal to the sum of (i) Restricted Payments made pursuant to Section 6.4(a)(iii)(B), plus (ii) Restricted
Debt Payments made pursuant to Section 6.4(b)(iv)(B), plus (iii) Investments made pursuant to Section 6.6(q)(ii),
in each case, after the Closing Date and prior to such time or contemporaneously therewith.

 

“Authorized
Person” means a US Authorized Person or a UK Authorized Person, as the context requires.

 

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

 

    	 	-5-	 

     

    

 

“Bail-In Legislation”
means, with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of
the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the
EU Bail-In Legislation Schedule.

 

“Bank Product”
means a UK Bank Product or a US Bank Product, as the context requires.

 

“Bank Product
Agreements” means UK Bank Product Agreements or US Bank Product Agreements, as the context requires.

 

“Bank Product
Collateralization” means UK Bank Product Collateralization or US Bank Product Collateralization, as the context requires.

 

“Bank Product
Obligations” means UK Bank Product Obligations or US Bank Product Obligations, as the context requires.

 

“Bank Product
Provider” means Wells Fargo or any of its Affiliates, including each of the foregoing in its capacity, if applicable,
as a Hedge Provider.

 

“Bank Product
Reserves” means UK Bank Product Reserves or US Bank Product Reserves, as the context requires.

 

“Bankruptcy
Code” means title 11 of the United States Code, as in effect from time to time.

 

“Bona Fide Debt
Fund” means a debt fund, investment vehicle, regulated bank entity or a regulated lending entity that is engaged in making,
purchasing, holding, or otherwise investing in commercial loans or similar extensions of credit in the ordinary course of business.

 

“Base Rate”
means the greatest of (a) one percent (1%) per annum, (b) the Federal Funds Rate plus 1⁄2%, (c) the LIBOR Rate
(which rate shall be calculated based upon an Interest Period of one month and shall be determined on a daily basis), plus
one percentage point, and (d) the rate of interest announced, from time to time, within Wells Fargo at its principal office in
San Francisco as its “prime rate”, with the understanding that the “prime rate” is one of Wells Fargo’s
base rates (not necessarily the lowest of such rates) and serves as the basis upon which effective rates of interest are calculated
for those loans making reference thereto and is evidenced by the recording thereof after its announcement in such internal publications
as Wells Fargo may designate (and, if any such announced rate is below zero, then the rate determined pursuant to this clause
(d) shall be deemed to be zero).

 

“Base Rate Loan”
means each portion of the Revolving Loans that bears interest at a rate determined by reference to the Base Rate.

 

“Base Rate Margin”
has the meaning set forth in the definition of Applicable Margin.

 

“Beneficial
Ownership Certification” means a certification regarding beneficial ownership as required by the Beneficial Ownership
Regulation.

 

“Beneficial
Ownership Regulation” means 31 CFR § 1010.230.

 

    	 	-6-	 

     

    

 

“Board of Directors”
means, as to any Person, the board of directors (or comparable managers) of such Person, or any committee thereof duly authorized
to act on behalf of the board of directors (or comparable managers).

 

“Board of Governors”
means the Board of Governors of the Federal Reserve System of the United States (or any successor).

 

“Borrower”
and “Borrowers” have the respective meanings specified therefor in the Preamble hereto.

 

“Borrower Materials”
has the meaning specified therefor in Section 17.9(c) of this Agreement.

 

“Borrowing”
means a US Borrowing, or a UK Borrowing, as the context requires.

 

“Borrowing Base”
means the US Borrowing Base or the UK Borrowing Base, as the context requires.

 

“Borrowing Base
Certificate” means a consolidated Borrowing Base certificate in the form of Exhibit B-1.

 

“Brundage Pumping”
has the meaning assigned in the Preamble hereto.

 

“Business Day”
means any day that is not a Saturday, Sunday, or other day on which banks are authorized or required to close in the state of California
or New York, except that, if a determination of a Business Day shall relate to a LIBOR Rate Loan or a UK Revolving Loan, the term
“Business Day” also shall exclude any day on which banks are closed for dealings in the London interbank market.

 

“Buyer”
has the meaning assigned in the Recitals hereto.

 

“Buyer Trust
Funds” has the meaning assigned in the Recitals hereto.

 

“Camfaud Concrete”
has the meaning assigned in the Preamble hereto.

 

“Capital Expenditures”
means, with respect to any Person for any period, the amount of all expenditures by such Person and its Subsidiaries during such
period that are capital expenditures as determined in accordance with GAAP, whether such expenditures are paid in cash or financed,
but excluding, without duplication (a) expenditures made during such period in connection with the replacement, substitution, or
restoration of assets or properties pursuant to Section 2.08(b)(ii) of the Term Loan Facility Agreement as in effect on
the Closing Date, (b) with respect to the purchase price of assets that are purchased substantially contemporaneously with the
trade-in of existing assets during such period, the amount that the gross amount of such purchase price is reduced by the credit
granted by the seller of such assets for the assets being traded in at such time, (c) expenditures made during such period to the
extent made with the identifiable proceeds of an equity investment in Holdings or any of its Subsidiaries, which equity investment
is made substantially contemporaneously with the making of the expenditure, (d) capitalized software development costs to the extent
such costs are deducted from net earnings under the definition of EBITDA or Consolidated Adjusted EBITDA, as applicable for such
period, (e) expenditures during such period that, pursuant to a written agreement, are reimbursed by a third Person (excluding
Holdings or any of its Affiliates), and (f) expenditures made during such period to consummate one or more Permitted Acquisitions.
Notwithstanding anything to the contrary, it is agreed, that for the purpose of calculating the Fixed Charge Coverage Ratio for
any period that includes the fiscal quarters ended on or about October 31, 2017, January 31, 2018, April 30, 2018 and July 31,
2018, (i) Capital Expenditures for the fiscal quarter ended on or about October 31, 2017 shall be deemed to be $9,419,211, (ii)
Capital Expenditures for the fiscal quarter ended on or about January 31, 2018 shall be deemed to be $5,885,376, (iii) Capital
Expenditures for the fiscal quarter ended on or about April 30, 2018 shall be deemed to be $5,765,870, and (iv) Capital Expenditures
for the fiscal quarter ended on or about July 31, 2018 shall be deemed to be $9,317,140, in each case, as adjusted on a Pro Forma
Basis, as applicable.

 

    	 	-7-	 

     

    

 

“Capital Lease”
means a lease that is required to be capitalized for financial reporting purposes in accordance with GAAP.

 

“Capital Stock”
means any and all shares, interests, participations, preferred equity certificates or other equivalents (however designated) of
capital stock of a corporation or limited liability company (if applicable), any and all equivalent ownership interests in a Person
(other than a corporation or limited liability company, if applicable), including partnership interests and membership interests,
and any and all warrants, profit participation interests, rights or options to purchase or other arrangements or rights to acquire
any of the foregoing, but excluding, for the avoidance of doubt, any Indebtedness convertible into or exchangeable for any of the
foregoing.

 

“Capitalized
Lease Obligation” means that portion of the obligations under a Capital Lease that is required to be capitalized in accordance
with GAAP.

 

“Cash Equivalents”
means (a) marketable direct obligations issued by, or unconditionally guaranteed by, the United States or issued by any agency
thereof and backed by the full faith and credit of the United States, in each case maturing within 1 year from the date of acquisition
thereof, (b) marketable direct obligations issued or fully guaranteed by any state of the United States or any political subdivision
of any such state or any public instrumentality thereof maturing within 1 year from the date of acquisition thereof and, at the
time of acquisition, having one of the two highest ratings obtainable from either Standard & Poor’s Rating Group (“S&P”)
or Moody’s Investors Service, Inc. (“Moody’s”), (c) commercial paper maturing no more than 270 days
from the date of creation thereof and, at the time of acquisition, having a rating of at least A-1 from S&P or at least P-1
from Moody’s, (d) certificates of deposit, time deposits, overnight bank deposits or bankers’ acceptances maturing
within 1 year from the date of acquisition thereof issued by any bank organized under the laws of the United States or any state
thereof or the District of Columbia or any United States branch of a foreign bank having at the date of acquisition thereof combined
capital and surplus of not less than $1,000,000,000, (e) Deposit Accounts maintained with (i) any bank that satisfies the criteria
described in clause (d) above, or (ii) any other bank organized under the laws of the United States or any state thereof
so long as the full amount maintained with any such other bank is insured by the Federal Deposit Insurance Corporation, (f) repurchase
obligations of any commercial bank satisfying the requirements of clause (d) of this definition or of any recognized securities
dealer having combined capital and surplus of not less than $1,000,000,000, having a term of not more than seven days, with respect
to securities satisfying the criteria in clauses (a) or (d) above, (g) debt securities with maturities of six months
or less from the date of acquisition backed by standby letters of credit issued by any commercial bank satisfying the criteria
described in clause (d) above, and (h) Investments in money market funds substantially all of whose assets are invested
in the types of assets described in clauses (a) through (g) above.

 

“Cash Management
Services” means any cash management or related services including treasury, depository, return items, overdraft, controlled
disbursement, merchant store value cards, e-payables services, electronic funds transfer, interstate depository network, automatic
clearing house transfer (including the Automated Clearing House processing of electronic funds transfers through the direct Federal
Reserve Fedline system) and other cash management arrangements.

 

    	 	-8-	 

     

    

 

“Certificate
of Title” means a certificate of title or a manufacturer’s statement of origin with respect to a unit of Rolling
Stock.

 

“CFC”
means a controlled foreign corporation (as that term is defined in the IRC) in which any Loan Party is a “United States shareholder”
within the meaning of Section 951(b) of the IRC.

 

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

 

“Change of Control”
means the earliest to occur of:

 

(a)          the
acquisition by any person or group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act), including
any group acting for the purpose of acquiring, holding or disposing of Securities (within the meaning of Rule 13d-5(b)(1) under
the Exchange Act, but excluding any employee benefit plan and/or person acting as the trustee, agent or other fiduciary or administrator
therefor), other than one or more Permitted Holders, of capital stock representing more than the greater of (x) 35% of the total
voting power of all of the outstanding voting Equity Interests of Holdings and (y) the percentage of the total voting power of
all the outstanding voting Equity Interests of Holdings owned, directly or indirectly, by the Permitted Holders;

 

(b)          occupation
of a majority of the seats (other than vacant seats) on the Board of Directors of Holdings by Persons who were not directors of
Holdings on the date of this Agreement, or nominated or appointed by the Board of Directors of Holdings;

 

(c)          each
Borrower ceasing to be a direct or indirect Wholly-Owned Subsidiary of Holdings or Intermediate Holdings (except in connection
with a transaction permitted hereunder); or

 

(d)          the
occurrence of any “Change in Control” as defined in the Term Loan Facility Agreement.

 

“Charge”
means any loss (as defined under GAAP), charge, fee, expense, cost, accrual or reserve of any kind.

 

“CIS Regulations”
means the Income Tax (Construction Industry Scheme) Regulations 2005.

 

“Claim”
has the meaning specified therefor in Section 12(c) of this Agreement.

 

    	 	-9-	 

     

    

 

“Closing Date”
means the date of the making of the initial Revolving Loan (or other extension of credit) under this Agreement.

 

“Closing Date
Investor Equity Contribution” has the meaning assigned in the Recitals hereto.

 

“Closing Date
Investors” has the meaning assigned in the Preamble hereto.

 

“Closing Date
Revolving Loans” has the meaning specified therefor in Section 2.1(a) of the Agreement.

 

“Code”
means the New York Uniform Commercial Code, as in effect from time to time.

 

“Collateral”
means all assets and interests in assets and proceeds thereof now owned or hereafter acquired by Holdings or its Subsidiaries in
or upon which a Lien is granted by such Person in favor of Agent, UK Security Agent or the Lenders under any of the Loan Documents.

 

“Collateral
Access Agreement” means a landlord waiver, bailee letter, or acknowledgement agreement of any lessor, warehouseman, processor,
consignee, or other Person in possession of, having a Lien upon, or having rights or interests in any Borrower’s or its Subsidiaries’
books and records, Equipment, Rolling Stock or Inventory, in each case, in form and substance reasonably satisfactory to Agent.

 

“Collateral
and Guarantee Requirement” means, at any time, subject to (x) the applicable limitations set forth in this Agreement
and/or any other Loan Document and (y) the time periods (and extensions thereof) set forth in ‎Section 5.12, the requirement
that the Agent shall have received in the case of any Restricted Subsidiary that is required to become a Loan Party after the Closing
Date (including by ceasing to be an Excluded Subsidiary):

 

(A)         (1)
a joinder to the US Guaranty and Security Agreement or UK Guarantee and Debenture in substantially the forms attached as an exhibit
thereto, (2) if the respective Restricted Subsidiary required to comply with the requirements set forth in this definition pursuant
to ‎Section 5.12 owns registrations of or applications for U.S. patents, trademarks and/or copyrights or exclusive licenses
to U.S. copyrights that constitute Collateral, a Patent Security Agreement in substantially the form attached as Exhibit B to the
US Guaranty and Security Agreement, a Trademark Security Agreement in substantially the form attached as Exhibit D to the US Guaranty
and Security Agreement, or a Copyright Security Agreement in substantially the form attached as Exhibit A to the US Guaranty and
Security Agreement, (3) a completed Perfection Certificate, (4) Uniform Commercial Code financing statements in appropriate form
for filing in such jurisdictions as the Agent may reasonably request and (5) an executed joinder to the Intercreditor Agreement
in substantially the form attached as an exhibit thereto; and

 

(B)         each
item of Collateral required to be delivered under Section 7 of the US Guaranty and Security Agreement (which, for the avoidance
of doubt, shall be delivered within the time periods set forth in ‎Section 5.12(a)).

 

“Commitment”
means, with respect to each US Lender, its US Revolver Commitment and with respect to each UK Lender, its UK Revolver Commitment,
as the context requires, and, with respect to all US Lenders, their US Revolver Commitments, with respect to all UK Lenders or
their UK Revolver Commitments, in each case as such Dollar Equivalent amounts are set forth beside such Lender’s name under
the applicable heading on Schedule C-1 to the Agreement or in the Assignment and Acceptance pursuant to which such Lender
became a Lender under the Agreement, as such amounts may be reduced or increased from time to time pursuant to assignments made
in accordance with the provisions of Section 13.1 of the Agreement.

 

    	 	-10-	 

     

    

 

“Commitment
Letter” means that certain Commitment Letter dated September 7, 2018, by and between Concrete Merger Sub and Wells Fargo,
as amended, amended and restated, restated, supplemented, modified or otherwise in effect from time to time.

 

“Commodity Exchange
Act” means the Commodity Exchange Act (7 USC. § 1 et seq.), as amended from time to time, and any successor statute.

 

“Company Competitor”
means any competitor of Concrete Merger Sub and/or any of its subsidiaries and/or Holdings and/or any of its subsidiaries.

 

“Compliance
Certificate” means a certificate substantially in the form of Exhibit C-1 to the Agreement delivered by the chief
financial officer of Holdings to Agent.

 

“Compliance
Period” means the period (a) commencing on the date that Excess Availability is at any time less than the greatest of
(i) 10% of the Line Cap, (ii) $5,000,000 and (iii) 12.5% of the UK Borrowing Base, and (b) continuing until, during each of the
preceding 30 consecutive days, Excess Availability has been greater than (i) 12.5% of the Line Cap, (ii) $5,000,000 and (iii) 12.5%
of the UK Borrowing Base.

 

“Concrete Merger
Sub” has the meaning specified therefor in the Preamble hereto.

 

“Concrete Pumping
Acquisition” has the meaning assigned in the Recitals hereto.

 

“Concrete Pumping
Acquisition Agreement” has the meaning assigned in the Recitals hereto.

 

“Confidential
Information” has the meaning specified therefor in Section 17.9(a) of the Agreement.

 

“Consolidated
Adjusted EBITDA” means, as to any Person on a consolidated basis for any period, the sum of:

 

(a)         Consolidated
Net Income for such period; plus

 

(b)         the
sum, without duplication, of (to the extent deducted (and not added back) in calculating Consolidated Net Income, other than in
respect of clauses (ix), (xv) and (xvi) below) the amounts of:

 

(i)          Taxes
paid and any provision for Taxes, including income, capital, state, franchise and similar Taxes, property Taxes and foreign withholding
Taxes (including (i) penalties and interest related to any such Tax or arising from any Tax examination and (ii) pursuant to any
Tax sharing arrangement, in each case as permitted by Section 6.04(a)(i)(A) of the Term Loan Facility Agreement or Section
6.04(a)(i)(B) of the Term Loan Facility Agreement of such Person paid or accrued during such period;

 

(ii)         consolidated
interest expense whether paid or accrued and whether or not capitalized in respect of such period (including (A) fees and expenses
paid or payable to the Term Loan Agent in connection with its services under the Term Loan Facility Agreement (and to each agent
under this Agreement in connection with its services thereunder), (B) amortization of debt issuance cost and/or original issue
discount resulting from the issuance of Indebtedness at less than par and other bank, administrative agency (or trustee) and financing
fees, (C) the interest component of Capitalized Lease obligations, (D) costs of surety bonds in connection with financing activities,
(E) commissions, discounts and other fees, expenses and charges paid or owed with respect to letters of credit, bank guarantees,
bankers’ acceptances, ancillary facilities or any similar facilities or financing and hedging agreements and (F) any interest
cost or expected return on any plan assets related to any post-employment benefit scheme or any other pension-related items and
any curtailments or settlements related thereto);

 

    	 	-11-	 

     

    

 

(iii)        (A)
depreciation, amortization (including, without limitation, amortization of goodwill, software and other intangible assets), (B)
any impairment Charge (including any non-cash Charge related to the impairment of goodwill and other assets) and (C) any asset
write-off and/or write-down (other than write-offs or write-downs of inventory and accounts receivable in the ordinary course of
business);

 

(iv)        (A)
Transaction Costs (including costs in connection with payments related to the rollover, acceleration or payout of equity interest
and stock options held by management and members of the board of the Target and its subsidiaries), (B) Charges incurred (1) in
connection with the consummation of any transaction (or any transaction proposed and not consummated), not prohibited by the Term
Loan Facility Agreement, including any issuance or offering of Capital Stock any Investment, any Disposition, any recapitalization,
any merger, consolidation or amalgamation, any option buyout or any incurrence, repayment, refinancing, amendment or modification
of Indebtedness (including any amortization or write-off of debt issuance or deferred financing costs, premiums and prepayment
penalties) or similar transaction and/or (2) in connection with any Qualifying Offering (whether or not consummated) and (C)
the amount of any Charge that is actually reimbursed or reimbursable by one or more third parties pursuant to indemnification or
reimbursement provisions or similar agreements or insurance; provided that in respect of any Charge that is added back in
reliance on clause (C) above, the relevant Person in good faith expects to receive reimbursement for such fee, cost, expense
or reserve within the next four Fiscal Quarters (it being understood that to the extent any reimbursement amount is not actually
received within such Fiscal Quarters, such reimbursement amount shall be deducted in calculating Consolidated Adjusted EBITDA for
such Fiscal Quarters);

 

(v)         any
Charge attributable to the undertaking and/or implementation of cost savings, operating expense reductions and/or synergies (including,
without limitation, in connection with any integration or transition, any reconstruction, decommissioning, recommissioning or reconfiguration
of fixed assets for alternative uses, any facility opening and/or pre-opening, any inventory optimization program and/or any curtailment),
any business optimization Charge, any restructuring Charge (including any Charge relating to any Tax restructuring), any Charge
relating to the closure or consolidation of any facility (including but not limited to severance, rent termination costs, moving
costs and legal costs), any systems implementation Charge, any Charge relating to entry into a new market, any Charge relating
to any strategic initiative, any consulting Charge, any signing Charge, any retention or completion bonus, any expansion and/or
relocation Charge, any Charge associated with any modification to any pension and post-retirement employee benefit plan, any Charge
associated with new systems design, any implementation Charge and/or any project startup Charge;

 

(vi)        other
add-backs and adjustments reflected in the model delivered to the Arranger on May 27, 2018;

 

(vii)       the
amount of any Charge or deduction associated with any subsidiary of such Person attributable to non-controlling interests or minority
interests of third parties;

 

(viii)      the
amount of any loss from (i) extraordinary items and (ii) non-recurring (including non-recurring credit expense) or unusual
items (including costs of, and payments of, (x) litigation expenses, actual or prospective legal settlements, fines, judgments
or orders, (y) recruitment and hiring bonuses and legal fees and Taxes related to issuances of significant options and (z) corporate
reorganizations);

 

    	 	-12-	 

     

    

 

(ix)         the
amount of any expected pro forma “run rate” cost savings, operating expense reductions and synergies (collectively,
“Expected Cost Savings”) (net of actual amounts realized) that are reasonably identifiable and factually supportable
(in the good faith determination of such Person, as certified by a Responsible Officer of such Person) related to (A) the Transactions
and (B) any acquisition, divestiture, permitted Investment, Disposition, operating improvement, restructuring, cost savings initiative,
any similar initiative and/or specified transaction, whether before or after the Closing Date (any such operating improvement,
restructuring, cost savings initiative or similar initiative or specified transaction, a “Cost Saving Initiative”);
provided that, the results of such Expected Cost Savings and/or Cost Saving Initiatives are projected by the Target in good
faith to result from actions that have been taken or with respect to which substantial steps have been taken or are expected to
be taken (in the good faith determination of the Target) within 12 months after (i) with respect to the Transactions, the Closing
Date and (ii) with respect to any Cost Saving Initiative, the date of such operating improvement, restructuring, cost savings initiative
or similar initiative or specified transaction (it being understood that pro forma “run rate” being the full benefit
associated with any action taken or with respect to which substantial steps have been taken or are expected to be taken as though
such Expected Cost Savings had been fully realized on the first date of the applicable Test Period for the entirety of such Test
Period); provided, further that the aggregate amount added to or included in Consolidated Adjusted EBITDA pursuant to this
clause (ix) shall not, for any Test Period, exceed an amount equal to 25% of Consolidated Adjusted EBITDA for such Test
Period, calculated before giving effect to any such add-backs or inclusion;

 

(x)          (A)
any Charge incurred as a result of, in connection with or pursuant to any management equity plan, profits interest or stock option
plan or any other management or employee benefit plan or agreement, any pension plan (including any post-employment benefit scheme
which has been agreed to with the relevant pension trustee), any stock subscription or shareholder agreement, any employee benefit
trust, any employee benefit scheme or any similar equity plan or agreement, (B) any Charges in connection with the rollover (including
any deferred compensation agreement), acceleration or payout (including in the form of dividends or distributions) of Capital Stock
held by management and members of the board of directors of any Parent Company, Holdings, Intermediate Holdings, CP Holdings LLC,
Target and/or any of its subsidiaries, in each case, to the extent that (in the case of any cash Charges) such Charges, are funded
with net cash proceeds contributed to the Subject Person as a capital contribution or as a result of the sale or issuance of Capital
Stock (other than Disqualified Capital Stock) of the Subject Person and (C) the amount of travel and other expenses, payroll taxes,
indemnification payments, director’s fees and any other Charges incurred in connection with, or amounts payable to, any director
of the board of Holdings or its parent entities in connection with such director serving as a member of such board of directors
and performing his or her duties in respect thereof;

 

(xi)         any
earn-out obligation incurred or accrued in connection with the Acquisition, any acquisition and/or other Investment permitted pursuant
to Section 6.06 of the Term Loan Facility Agreement and paid or accrued during such period and on similar acquisitions and Investments
completed prior to the Closing Date;

 

(xii)        Public
Company Costs;

 

(xiii)       any
non-cash Charge (provided that to the extent that any such non-cash Charge represents an accrual or reserve for any potential
cash item in any future period, (A) such Person may elect not to add back such non-cash Charge in the current period or (B) to
the extent such Person elects to add back such non-cash Charge, the cash payment in respect thereof in such future period shall
be subtracted from Consolidated Adjusted EBITDA to such extent);

 

(xiv)      the
amount of any Charge in connection with a single or one-time event, including, in connection with (A) the Acquisition, any acquisition
or similar Investment permitted hereunder after the Closing Date (including without limitation, legal, accounting and other professional
fees and expenses incurred in connection with acquisitions and other Investments made prior to the Closing Date), (B) the consolidation,
closing or reconfiguration of any facility during such period and (C) one-time consulting costs;

 

    	 	-13-	 

     

    

 

(xv)       to
the extent not otherwise included in Consolidated Net Income, proceeds of business interruption insurance in an amount representing
the earnings for the applicable period that such proceeds are intended to replace (whether or not received so long as such Person
in good faith expects to receive the same within the next four Fiscal Quarters (it being understood that to the extent not actually
received within such Fiscal Quarters, such proceeds shall be deducted in calculating Consolidated Adjusted EBITDA for such Fiscal
Quarters));

 

(xvi)      cash
actually received (or any netting arrangements resulting in reduced Cash expenditure) during such period, and not included in Consolidated
Net Income, to the extent that the non-cash gain relating to such cash receipt or netting arrangement was deducted in the calculation
of Consolidated Adjusted EBITDA pursuant to clause (c)(i) below for any previous period and not added back; and

 

(xvii)     amounts
paid or accrued in respect of Sponsor Fees to the extent permitted pursuant to Section 6.08(o) of the Term Loan Facility Agreement;
minus

 

(c)          to
the extent such amounts increase Consolidated Net Income:

 

(i)          non-cash
gains or income; provided that if any non-cash gain or income relates to potential cash items in any future period, such Person
may determine not to deduct such non-cash gain or income in the current period;

 

(ii)         the
amount added back to Consolidated Adjusted EBITDA pursuant to clause (b)(iv)(C) above (as described in such clause) to the extent
such reimbursement amounts were not received within the time period required by such clause;

 

(iii)        the
amount added back to Consolidated Adjusted EBITDA pursuant to clause (b)(xv) above (as described in such clause) to the extent
such business interruption insurance proceeds were not received within the time period required by such clause;

 

(iv)        to
the extent that such Person added back the amount of any non-cash charge to Consolidated Adjusted EBITDA pursuant to clause (b)(xiii)
above in respect of any previous period, the subsequent cash payment in respect thereof;

 

(v)         the
amount of any gain from (i) extraordinary items and (ii) non-recurring (including non-recurring credit expense) or unusual
items (including costs of, and payments of, (x) litigation expenses, actual or prospective legal settlements, fines, judgments
or orders, (y) recruitment and hiring bonuses and legal fees and Taxes related to issuances of significant options and (z) corporate
reorganizations); and

 

(vi)        the
amount of any gain in connection with a single or one-time event.

 

Notwithstanding anything to the contrary,
it is agreed, that for the purpose of calculating the Total Leverage Ratio, the First Lien Leverage Ratio and the Secured Leverage
Ratio for any period that includes the Fiscal Quarters ended on or about October 31, 2017, January 31, 2018, April 30, 2018 and
July 31, 2018, (i) Consolidated Adjusted EBITDA for the Fiscal Quarter ended on or about October 31, 2017 shall be deemed to be
$23,000,000, (ii) Consolidated Adjusted EBITDA for the Fiscal Quarter ended on or about January 31, 2018 shall be deemed to be
$17,500,000, (iii) Consolidated Adjusted EBITDA for the Fiscal Quarter ended on or about April 30, 2018 shall be deemed to be $20,900,000,
and (iv) Consolidated Adjusted EBITDA for the Fiscal Quarter ended on or about July 31, 2018 shall be deemed to be $21,700,000,
in each case, as adjusted on a Pro Forma Basis, as applicable.

 

    	 	-14-	 

     

    

 

Unless otherwise stated or context clearly
dictates otherwise, references to Consolidated Adjusted EBITDA shall refer to the Consolidated Adjusted EBITDA of the Target and
its Restricted Subsidiaries. Defined terms used in this definition shall have the meanings ascribed to such terms in the Term Loan
Facility Agreement as in effect on the Closing Date unless otherwise noted.

 

“Consolidated
Net Income” means, as to any Person (the “Subject Person”) for any period, the net income (or loss)
of the Subject Person on a consolidated basis for such period taken as a single accounting period determined in conformity with
GAAP; provided that there shall be excluded, without duplication,

 

(a)          the
cumulative effect of any change in accounting principles during such period,

 

(b)          any
net gains or Charges (as defined in the Term Loan Agreement as in effect on the Closing Date) with respect to (i) disposed, abandoned,
closed and discontinued operations (other than, at the option of the Target, any operations pending the disposal, abandonment,
divestiture and/or termination thereof) and any accretion or accrual of discounted liabilities and on the disposal of disposed,
abandoned, and discontinued operations and/or (ii) any facilities, plants or distribution centers that have been closed during
such period,

 

(c)          gains,
income, losses, expenses or charges (less all fees and expenses chargeable thereto) attributable to any sales or dispositions of
Capital Stock or assets (including asset retirement costs) or returned surplus assets of any employee benefit plan, in each case,
outside of the ordinary course of business,

 

(d)          (i) the
income of any Person (other than a subsidiary of the Subject Person) in which any other Person (other than the Subject Person or
any of its subsidiaries) has a joint interest, except to the extent of the amount of dividends or distributions or other payments
(including any ordinary course dividend, distribution or other payment) paid in cash (or to the extent converted into cash) to
the Subject Person or any of its subsidiaries by such Person during such period and (ii) the loss of any Person (other than a subsidiary
of the Subject Person) in which any other Person (other than the Subject Person or any of its subsidiaries) has a joint interest,
other than to the extent that the Subject Person or any of its subsidiaries has contributed cash or Cash Equivalents to such person
in respect of such loss during such period,

 

(e)          effects
of adjustments (including the effects of such adjustments pushed down to the Subject Person and its Restricted Subsidiaries) in
the Subject Person’s consolidated financial statements pursuant to GAAP (including in the inventory, property and equipment,
software, goodwill, intangible assets, in-process research and development, deferred revenue, deferred rent and debt line items
thereof) resulting from the application of recapitalization accounting or acquisition accounting, as the case may be, in relation
to the Transactions or any consummated acquisition or the amortization or write-off of any amounts thereof,

 

(f)          any
net income or loss (less all fees and expenses or charges related thereto) attributable to the early extinguishment of Indebtedness
(and the termination of any associated Hedge Agreements),

 

(g)          any
(i) write-off or amortization made in such period of deferred financing costs and premiums paid or other expenses incurred directly
in connection with any early extinguishment of Indebtedness, (ii) good will or other asset impairment charges, write-offs or write-downs
or (iii) amortization of intangible assets,

 

(h)          any
non-cash compensation charge, cost, expense, accrual or reserve, including any such charge, cost, expense, accrual or reserve arising
from the grant of stock appreciation or similar rights, stock options, restricted stock or other equity incentive programs, and
any cash charges associated with the rollover, acceleration or payment of management equity in connection with the Transactions,

 

    	 	-15-	 

     

    

 

(i)          any
fees, commissions and expenses incurred during such period, or any amortization or write-off thereof for such period in connection
with any Investment, Disposition, incurrence or repayment of Indebtedness, issuance of Capital Stock, refinancing transaction or
amendment or modification of any Indebtedness (in each case, including any such transaction consummated prior to the Closing Date
and any such transaction undertaken but not completed) and any charges or non-recurring merger costs incurred during such period
as a result of any such transaction,

 

(j)          accruals
and reserves that are established or adjusted within 12 months after (i) the Closing Date that are so required to be established
or adjusted as a result of the Transactions and (ii) the date of any Permitted Acquisition or other similar Investment permitted
pursuant to Section 6.06 of the Term Loan Agreement as in effect on the Closing Date, in each case, in accordance with GAAP
or as a result of the adoption or modification of accounting policies,

 

(k)          any
realized or unrealized foreign currency exchange gain or loss (including any currency re-measurement of Indebtedness, any net gain
or loss resulting from Hedge Agreements for currency exchange risk associated with the foregoing or any other currency related
risk and any gain or loss resulting from intercompany Indebtedness),

 

(l)          any
unrealized gain or loss in respect of the fair market value of (x) any obligation under any Hedge Agreement as determined in accordance
with GAAP and/or (y) any other derivative instrument pursuant to, in the case of this clause (y), FASB ASC No. 815
– Derivatives and Hedging,

 

(m)         solely
for the purpose of determining the Available Amount, the net income for such period of any subsidiary (other than any Subsidiary
Guarantor (as defined in the Term Loan Agreement as in effect on the Closing Date), to the extent the declaration or payment of
dividends or similar distributions by that subsidiary of its net income is not at the date of determination permitted without any
prior governmental approval (which has not been obtained) or, directly or indirectly, by the operation of the terms of its charter
or any agreement, instrument, judgment, decree, order, statute, rule, or governmental regulation applicable to that subsidiary
or its stockholders, unless such restriction with respect to the payment of dividends or similar distributions has been legally
waived; provided that Consolidated Net Income will be increased by the amount of dividends or other distributions or other payments
actually paid in cash (or to the extent converted into cash) to the Subject Person or a subsidiary thereof in respect of such period,
to the extent not already included therein, and

 

(n)         solely
for purposes of calculating Excess Cash Flow (as defined in the Term Loan Agreement as in effect on the Closing Date), the income
or loss of any Person accrued prior to the date on which such Person becomes a Restricted Subsidiary of such Person or is merged
into or consolidated with such Person or any Restricted Subsidiary of such Person or the date that such other Person’s assets
are acquired by such Person or any Restricted Subsidiary of such Person.

 

Unless otherwise stated
or context clearly dictates otherwise, references to Consolidated Net Income shall refer to the Consolidated Net Income of the
Borrowers and their Restricted Subsidiaries.

 

“Consolidated
Total Assets” means, at any date, all amounts that would, in conformity with GAAP, be set forth opposite the caption
“total assets” (or any like caption) on a consolidated balance sheet of the applicable Person at such date; provided
that, at all times prior to the first delivery of financial statements pursuant to Section 5.1(a) or (b), this definition
shall be applied based on the pro forma balance sheet of Holdings delivered pursuant to Section 3.1.

 

“Contractual
Obligation” means, as applied to any Person, any indenture, mortgage, deed of trust, contract, undertaking, agreement
or other instrument to which that Person is a party or by which it or any of its properties is bound or to which it or any of its
properties is subject.

 

    	 	-16-	 

     

    

 

“Contribution
Notice” means a contribution notice issued by the Pensions Regulator under section 38 or section 47 of the Pensions Act
2004 (UK).

 

“Controlled
Account Agreement” has the meaning specified therefor in the US Guaranty and Security Agreement.

 

“Copyright Security
Agreement” has the meaning specified therefor in the US Guaranty and Security Agreement.

 

“Cost Saving
Initiative” has the meaning specified in the definition of “Consolidated Adjusted EBITDA”.

 

“Court”
has the meaning specified therefor in Section 12(f) of this Agreement.

 

“CP Holdings
LLC” means Concrete Pumping Intermediate Holdings, LLC, a Delaware limited liability company.

 

“CTA”
means the United Kingdom Corporation Tax Act 2009.

 

“Curative Equity”
means common equity (or other form of equity reasonably acceptable to Agent) contributions to Holdings in immediately available
funds which Holdings contributes as additional common equity (or such other form of equity reasonably acceptable to Agent) contributions
to Borrowers in immediately available funds and which is designated “Curative Equity” by Borrowers under Section
9.3 of the Agreement at the time it is contributed. For the avoidance of doubt, the forgiveness of antecedent debt (whether
Indebtedness, trade payables, or otherwise) shall not constitute Curative Equity.

 

“Debtor Relief
Laws” means (a) the Bankruptcy Code, (b) the Insolvency Act 1986 (UK), (c) the Enterprise Act 2002 (UK) and (d) and all
other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership,
insolvency, reorganization, compromise, arrangement or similar debtor relief laws of the United States, the United Kingdom, the
European Union or other applicable jurisdictions from time to time in effect, including the corporate statutes where such statute
is used by a Person to propose an arrangement involving the compromise of the claims of creditors, and any law of any jurisdiction
permitting a debtor to obtain a stay or a compromise of the claims of its creditors against it.

 

“Declined Proceeds”
has the meaning set forth in the Term Loan Facility Agreement (as in effect on the Closing Date).

 

“Default”
means an event, condition, or default that, with the giving of notice, the passage of time, or both, would be an Event of Default.

 

    	 	-17-	 

     

    

 

“Defaulting
Lender” means any Lender that (a) has failed to (i) fund all or any portion of its Loans within two Business Days of
the date such Loans were required to be funded hereunder unless such Lender notifies Agent and Administrative Borrower in writing
that such failure is the result of such Lender’s determination that one or more conditions precedent to funding (each of
which conditions precedent, together with any applicable Default or Event of Default, shall be specifically identified in such
writing) has not been satisfied, or (ii) pay to Agent, Issuing Bank, or any other Lender any other amount required to be paid by
it hereunder (including in respect of its participation in Letters of Credit) within two Business Days of the date when due, (b)
has notified any Borrower, Agent or Issuing Bank in writing that it does not intend to comply with its funding obligations hereunder,
or has made a public statement to that effect (unless such writing or public statement relates to such Lender’s obligation
to fund a Loan hereunder and states that such position is based on such Lender’s determination that a condition precedent
to funding (which condition precedent, together with any applicable Default or Event of Default, shall be specifically identified
in such writing or public statement) cannot be satisfied), (c) has failed, within three Business Days after written request by
Agent or Administrative Borrower, to confirm in writing to Agent and Administrative Borrower that it will comply with its prospective
funding obligations hereunder (provided, that such Lender shall cease to be a Defaulting Lender pursuant to this clause
(c) upon receipt of such written confirmation by Agent and Administrative Borrower), or (d) has, or has a direct or indirect
parent company that has, (i) become the subject of any Insolvency Proceeding, (ii) had appointed for it a receiver, custodian,
conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation
of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority
acting in such a capacity, or (iii) become the subject of a Bail-in Action; provided, that a Lender shall not be a Defaulting
Lender solely by virtue of the ownership or acquisition of any Equity Interest in that Lender or any direct or indirect parent
company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity
from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets
or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made
with such Lender. Any determination by Agent that a Lender is a Defaulting Lender under any one or more of clauses (a) through
(d) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender
upon delivery of written notice of such determination to Administrative Borrower, Issuing Bank, and each Lender.

 

“Defaulting
Lender Rate” means (a) with respect to US Obligations, (i) for the first three days from and after the date the relevant
payment is due, the Base Rate, and (ii) thereafter, the interest rate then applicable to US Revolving Loans that are Base Rate
Loans (inclusive of the Base Rate Margin applicable thereto) and (b) with respect to UK Obligations, the interest rate then applicable
to UK Revolving Loans.

 

“Delegate”
means any delegate, agent, attorney, or co-trustee appointed by UK Security Agent.

 

“Deposit Account”
means any deposit account (as that term is defined in the Code).

 

“Depreciation
Policy” means the annual rate at which each UK Borrower charges depreciation against its assets and which has previously
been agreed with its auditors and disclosed to Agent prior to the date of this Agreement.

 

“Derivative
Transaction” means (a) any interest-rate transaction, including any interest-rate swap, basis swap, forward rate
agreement, interest rate option (including a cap, collar or floor), and any other instrument linked to interest rates that gives
rise to similar credit risks (including when-issued securities and forward deposits accepted), (b) any exchange-rate transaction,
including any cross-currency interest-rate swap, any forward foreign-exchange contract, any currency option, and any other instrument
linked to exchange rates that gives rise to similar credit risks, (c) any equity derivative transaction, including any equity-linked
swap, any equity-linked option, any forward equity-linked contract, and any other instrument linked to equities that gives rise
to similar credit risk and (d) any commodity (including precious metal) derivative transaction, including any commodity-linked
swap, any commodity-linked option, any forward commodity-linked contract, and any other instrument linked to commodities that gives
rise to similar credit risks; provided, that no phantom stock or similar plan providing for payments only on account of
services provided by current or former directors, officers, employees, members of management, managers or consultants of Holdings
or its subsidiaries shall be a Derivative Transaction.

 

    	 	-18-	 

     

    

 

“Designated
Account” means the US Designated Account or the UK Designated Account, as the context requires.

 

“Designated
Account Bank” means the US Designated Account Bank or the UK Designated Account Bank, as the context requires.

 

“Designated
Non-Cash Consideration” has the meaning specified therefor in the Term Loan Facility Agreement as in effect on the date
hereof.

 

“Dilution”
means a UK Dilution or a US Dilution, as the context requires.

 

“Dilution Reserve”
means a UK Dilution Reserve or a US Dilution Reserve, as the context requires.

 

“Direction”
has the meaning specified therefor in Section 16.5(b)(iv)(B) of this Agreement.

 

“Disbursement
Letter” means a disbursement letter, dated as of even date herewith, in form and substance reasonably satisfactory to
Agent, executed and delivered by each of the Borrowers.

 

“Disposition”
or “Dispose” means the sale, lease, sublease, or other disposition of any property of any Person.

 

“Disposition
Threshold Amount” has the meaning specified therefor in Section 6.7 of the Agreement.

 

“Disqualified
Capital Stock” means any Capital Stock which, by its terms (or by the terms of any security into which it is convertible
or for which it is exchangeable), or upon the happening of any event, (a) matures (excluding any maturity as the result of
an optional redemption by the issuer thereof) or is mandatorily redeemable (other than for Qualified Capital Stock), pursuant to
a sinking fund obligation or otherwise, or is redeemable at the option of the holder thereof (other than for Qualified Capital
Stock), in whole or in part, on or prior to 91 days following the Latest Maturity Date at the time such Capital Stock is issued
(it being understood that if any such redemption is in part, only such part coming into effect prior to 91 days following the Latest
Maturity Date shall constitute Disqualified Capital Stock), (b) is or becomes convertible into or exchangeable (unless at
the sole option of the issuer thereof) for (i) debt securities or (ii) any Capital Stock that would constitute Disqualified
Capital Stock, in each case at any time on or prior to 91 days following the Latest Maturity Date at the time such Capital Stock
is issued, (c) contains any mandatory repurchase obligation or any other repurchase obligation at the option of the holder
thereof (other than for Qualified Capital Stock), in whole or in part, which may come into effect prior to 91 days following the
Latest Maturity Date at the time such Capital Stock is issued, or (d) provides for the scheduled payments of (but not accrual
of) dividends required to be paid in cash on or prior to 91 days following the Latest Maturity Date at the time such Capital Stock
is issued (it being understood that if any such repurchase obligation is in part, only such part coming into effect prior to 91
days following the Latest Maturity Date shall constitute Disqualified Capital Stock); provided that any Capital Stock that
would not constitute Disqualified Capital Stock but for provisions thereof giving holders thereof (or the holders of any security
into or for which such Capital Stock is convertible, exchangeable or exercisable) the right to require the issuer thereof to redeem
such Capital Stock upon the occurrence of any change of control, Qualifying Offering (as defined in the Term Loan Facility Agreement)
or any Disposition occurring prior to 91 days following the Latest Maturity Date at the time such Capital Stock is issued shall
not constitute Disqualified Capital Stock, if such Capital Stock provides that the issuer thereof will not redeem any such Capital
Stock pursuant to such provisions prior to the Termination Date (as defined in the Term Loan Facility Agreement).

 

    	 	-19-	 

     

    

 

Notwithstanding the preceding
sentence, (A) if such Capital Stock is issued pursuant to any plan for the benefit of directors, officers, employees, members of
management, managers or consultants or by any such plan to such directors, officers, employees, members of management, managers
or consultants, in each case in the ordinary course of business of Holdings, Intermediate Holdings, CP Holdings LLC, the Borrowers
or any Restricted Subsidiary (or any Parent Company or any subsidiary), such Capital Stock shall not constitute Disqualified Capital
Stock solely because it may be required to be repurchased by the issuer thereof in order to satisfy applicable statutory or regulatory
obligations and (B) no Capital Stock held by any future, present or former employee, director, officer, manager, member of management
or consultant (or their respective Affiliates or Immediate Family Members) of any Borrower (or any Parent Company or any subsidiary)
shall be considered Disqualified Capital Stock solely because such stock is redeemable or subject to repurchase pursuant to any
management equity subscription agreement, stock option, stock appreciation right or other stock award agreement, stock ownership
plan, put agreement, stockholder agreement or similar agreement that may be in effect from time to time.

 

“Disqualified
Equity Interests” means any Equity Interests that, by their terms (or by the terms of any security or other Equity Interests
into which they are convertible or for which they are exchangeable), or upon the happening of any event or condition (a) matures
or are mandatorily redeemable (other than solely for Qualified Equity Interests), pursuant to a sinking fund obligation or otherwise
(except as a result of a change of control or asset sale so long as any rights of the holders thereof upon the occurrence of a
change of control or asset sale event shall be subject to the prior repayment in full of the Loans and all other Obligations that
are accrued and payable and the termination of the Commitments), (b) are redeemable at the option of the holder thereof (other
than solely for Qualified Equity Interests), in whole or in part, (c) provide for the scheduled payments of dividends in cash,
or (d) are or become convertible into or exchangeable for Indebtedness or any other Equity Interests that would constitute Disqualified
Equity Interests, in each case, prior to the date that is 180 days after the Maturity Date.

 

“Disqualified
Institution” means:

 

(a)          (i)
any Person identified to the Lead Arranger on or prior to November 14, 2018, (ii) any Affiliate of any Person described in clause
(a)(i) above that is identified in a written notice to the Lead Arranger (if after November 14, 2018, and prior to the Closing
Date) or the Agent (if after the Closing Date) and (iii) any other Affiliate of any Person described in clause (a)(i) above
reasonably identifiable as such based solely on its name; and/or

 

(b)          (i)
any Company Competitor and/or any Affiliate of any Company Competitor, in each case identified to the Arranger on or prior to November
14, 2018, (ii) any Company Competitor that is identified in writing and reasonably acceptable to the Arranger (if after November
14, 2018 and prior to the Closing Date) or the Agent (if after the Closing Date), (iii) any Affiliate of any Person described in
clauses (b)(i) and/or (b)(ii) above reasonably identifiable as such based solely on its name and (iv) any other Affiliate
of any Person described in clauses (b)(i), (ii) and/or (iii) above that is (x) identifiable based solely
on the name of such Affiliate or (y) identified by a written notice to the Lead Arranger (or, after the Closing Date, to the Agent)
after November 14, 2018 (it being understood and agreed that no Bona Fide Debt Fund may be designated as a Disqualified Institution
pursuant to this clause (b));

 

it being understood and
agreed that (x) no written notice may be delivered pursuant to clause (a)(ii), (b)(ii) and/or (b)(iv) above
if a Specified Event of Default has occurred and is continuing, and if such written notice is delivered while a Specified Event
of Default has occurred and is continuing, such written notice shall be deemed to be void and of no effect, and (y) no written
notice delivered pursuant to clauses (a)(ii), (b)(ii) and/or (b)(iv) above shall apply retroactively to disqualify
any person that has previously acquired an assignment or participation interest in the Loans.

 

    	 	-20-	 

     

    

 

“Dollar Equivalent”
means, at any time, (a) with respect to any amount denominated in Dollars, such amount, and (b) with respect to any amount denominated
in another currency (including, as applicable GBP), the equivalent amount thereof in Dollars as reasonably determined in good faith
by Agent, at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date or such other date
determined by Agent) for the purchase of Dollars with such currency.

 

“Dollars”
or “$” means United States dollars.

 

“Domestic Subsidiary”
means any Subsidiary formed or organized under the laws of the United States, any state thereof or the District of Columbia.

 

“Domestic Subsidiary
Holdco” means any Domestic Subsidiary substantially all of the assets of which are Equity Interests in and/or Indebtedness
of Foreign Subsidiaries so long as such Subsidiary does not guarantee any other material Indebtedness of a US Person.

 

“Drawing Document”
means any Letter of Credit or other document presented for purposes of drawing under any Letter of Credit, including by electronic
transmission such as SWIFT, electronic mail, facsimile or computer generated communication.

 

“EBITDA”
means, with respect to any fiscal period,

 

(a)         Borrowers’
and their respective Restricted Subsidiaries’ consolidated net earnings (or loss),

 

minus

 

(b)         without
duplication, the sum of the following amounts of Borrowers and their respective Restricted Subsidiaries for such period to the
extent included in determining consolidated net earnings (or loss) for such period:

 

(i)          extraordinary
gains,

 

(ii)         interest
income,

 

plus

 

(c)         without
duplication, the sum of the following amounts of Borrowers and their respective Restricted Subsidiaries for such period to the
extent included in determining consolidated net earnings (or loss) for such period:

 

(i)          non-cash
extraordinary losses,

 

(ii)         Interest
Expense,

 

(iii)        Taxes,

 

(iv)        and
depreciation and amortization for such period,

 

    	 	-21-	 

     

    

 

(v)         expenses,
fees and charges in connection with the Transactions and in connection with the transactions consummated on the Closing Date,

 

(vi)        with
respect to the Concrete Pumping Acquisition: (1) purchase accounting adjustments, including, without limitation, a dollar for dollar
adjustment for that portion of revenue that would have been recorded in the relevant period had the balance of deferred revenue
(unearned income) recorded on the closing balance sheet and before application of purchase accounting not been adjusted downward
to fair value to be recorded on the opening balance sheet in accordance with GAAP purchase accounting rules; and (2) non-cash adjustments
in accordance with GAAP purchase accounting rules under FASB Statement No. 141 and EITF Issue No. 01-3, in the event that such
an adjustment is required by Holdings’ independent auditors, in each case, as determined in accordance with GAAP,

 

(vii)       management
and director fees and expenses permitted to be paid or accrued in accordance with Section 6.8(i) of the Agreement,

 

(viii)      the
amount of any expenses in connection with any actual or proposed Investment (including any Permitted Acquisition), incurrence or
repayment of Indebtedness, issuance of Equity Interests or Acquisition or Disposition outside the ordinary course of business to
the extent such amount is acceptable to Agent,

 

(ix)        expenses
incurred to the extent covered by indemnification provisions in any agreement in connection with an Acquisition (including the
Concrete Pumping Acquisition any Permitted Acquisition) to the extent reimbursed in cash and such indemnification payments are
not otherwise included in EBITDA,

 

(x)         proceeds
from any business interruption insurance to the extent reimbursed in cash and such proceeds are not otherwise included in net earnings,

 

(xi)        any
unusual or nonrecurring items and any restructuring charges or reserves, including, without limitation, in connection with an acquisition
made after the Closing Date (which, for the avoidance of doubt, shall include retention, severance, systems establishment costs,
excess pension charges, contract and lease termination costs, and costs to consolidate facilities and relocate employees), in each
case solely to the extent acceptable to Agent,

 

(xii)       any
non-cash charges resulting from the application of ASC 718 (formerly SFAS No. 123) and any other non-cash compensation charges
or other non-cash expenses or charges arising from the grant of or issuance or repricing of stock, stock options or other equity
based awards or any amendment, modification, substitution or change of any such stock, stock options or other equity based awards,

 

(xiii)      all
deferred financing costs written off, and premiums paid, in connection with any early extinguishment of Indebtedness,

 

(xiv)      any
purchase accounting adjustments (including, without limitation, the impact of writing up inventory, deferred marketing and deferred
financing costs or deferred revenue at fair value), amortizations, impairments, write-offs, or non-cash charges with respect to
purchase accounting with respect to any Acquisitions, Disposition, merger, consolidation, amalgamation or similar transactions
on or after the Closing Date,

 

    	 	-22-	 

     

    

 

(xv)       pro
forma “run rate” cost savings, operating expense reductions and synergies related to the Transactions and other Acquisitions,
Investments, Dispositions, divestitures, restructurings, operating improvements, cost savings initiatives and other similar initiatives
and other “specified transactions” that are reasonably identifiable and factually supportable and projected by the
Borrowers in good faith to result from actions that have been taken or with respect to which substantial steps have been taken
or are expected to be taken (in the good faith determination of the Borrowers) within 12 months after the Closing Date (in the
case of the Transactions) or such transaction (in the case of any other transaction, initiative or event), calculated on a pro
forma basis as though such cost savings, operating expense reductions and synergies had been fully realized on the first day
of the applicable period for the entirety of such period; provided that the aggregate amount added back to pursuant to this
clause (xv) in any four-fiscal quarter period (together with any amounts added back pursuant to clause (xvi) and
clause (xvii) below) shall not exceed the sum of (A) 20% of EBITDA for such period plus (B) $5,000,000,

 

(xvi)      the
amount of any restructuring and related charges actually incurred by the Loan Parties; provided that the aggregate amount
added back to pursuant to this clause (xvi) in any four-fiscal quarter period (together with any amounts added back pursuant
to clause (xv) above and clause (xvii) below) shall not exceed the sum of (A) 20% of EBITDA for such period plus
(B) $5,000,000,

 

(xvii)     the
amount of fees, costs, expenses and other charges incurred in connection with Acquisitions (including any Permitted Acquisitions),
Investments, Dispositions, debt and equity issuances permitted under the Loan Documents and amendments or waivers to the Loan Documents
and other debt or equity agreements; provided that the aggregate amount added back pursuant to this clause (xvii)
in any four-fiscal quarter period (together with any amounts added back pursuant to clause (xv) and clause (xvi)
above) shall not exceed the sum of (A) 20% of EBITDA for such period plus (B) $5,000,000,

 

(xviii)    the
amount of any extraordinary, unusual or non-recurring losses, charges or expenses,

 

(xix)      without
duplication of any other foregoing clause, adjustments, exclusions and add-backs reflected in the Projections delivered to Agent
prior to the Closing Date, and

 

(xx)        charges
of Holdings, Intermediate Holdings, Target or its subsidiaries associated with, or in anticipation of, or preparation for, compliance
with the requirements of the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated in connection therewith and charges
relating to compliance with the provisions of the Securities Act and the Exchange Act (and, in each case, similar Requirements
of Law under other jurisdictions), as applicable to companies with equity or debt securities held by the public, the rules of national
securities exchange companies with listed equity or debt securities, directors’ or managers’ compensation, fees and
expense reimbursement, indemnities, disbursements, charges relating to investor relations, shareholder meetings and reports to
shareholders or debtholders, directors’ and officers’ insurance and other executive costs, legal and other professional
fees and listing fees, in each case incurred within twelve (12) months of the Closing Date,

 

in each case, determined
on a consolidated basis in accordance with GAAP.

 

For the purposes of
calculating EBITDA for any Reference Period, if at any time during such Reference Period (and after the Closing Date), Holdings
or any of its Subsidiaries shall have made a Permitted Acquisition or any Investment, EBITDA for such Reference Period shall be
calculated after giving pro forma effect thereto (including pro forma adjustments arising out of events which are
directly attributable to such Permitted Acquisition or any other Investment, are factually supportable, and are expected to have
a continuing impact, in each case to be mutually and reasonably agreed upon by Borrowers and Agent or in such other manner reasonably
acceptable to Agent as if any such Permitted Acquisition or any other Investment or adjustment occurred on the first day of such
Reference Period.

 

    	 	-23-	 

     

    

 

Notwithstanding anything
to the contrary, it is agreed that for any period that includes the fiscal quarters ended on or about October 31, 2017, January
31, 2018, April 30, 2018 and July 31, 2018, (i) EBITDA for the fiscal quarter ended on or about October 31, 2017 shall be deemed
to be $23,000,000, (ii) EBITDA for the fiscal quarter ended on or about January 31, 2018 shall be deemed to be $17,500,000, (iii)
EBITDA for the fiscal quarter ended on or about April 30, 2018 shall be deemed to be $20,900,000, and (iv) EBITDA for the fiscal
quarter ended on or about July 31, 2018 shall be deemed to be $21,700,000, in each case, as adjusted on a Pro Forma Basis, as applicable.

 

“Eco-Pan US”
has the meaning assigned in the Preamble hereto.

 

“EEA Financial
Institution” means (a) any credit institution or investment firm established in any EEA Member Country which is subject
to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an
institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country
which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated
supervision with its parent.

 

“EEA Member
Country” means any of the member states of the European Union, Iceland, Liechtenstein, and Norway.

 

“EEA Resolution
Authority” means any public administrative authority or any person entrusted with public administrative authority of
any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution.

 

“Effective Yield”
means, as to any Indebtedness, the effective yield applicable thereto calculated by the Term Agent in consultation with the Borrowers
in a manner consistent with generally accepted financial practices, taking into account (a) interest rate margins, (b) interest
rate floors (subject to the proviso set forth below), (c) any amendment to the relevant interest rate margins and interest rate
floors prior to the applicable date of determination and (d) original issue discount and upfront or similar fees (based on an assumed
four-year average life to maturity or lesser remaining average life to maturity), but excluding (i) any arrangement, commitment,
structuring, underwriting and/or amendment fees (regardless of whether any such fees are paid to or shared in whole or in part
with any lender) and (ii) any other fee that is not payable to all relevant lenders generally; provided, however,
that (A) to the extent that the Eurodollar Rate or Alternate Base Rate (each such term as defined in the Term Loan Facility Agreement)
(without giving effect to any floor specified in the definition thereof) is less than any floor applicable to the loans in respect
of which the Effective Yield is being calculated on the date on which the Effective Yield is determined, the amount of the resulting
difference will be deemed added to the interest rate margin applicable to the relevant Indebtedness for purposes of calculating
the Effective Yield and (B) to the extent that the Eurodollar Rate (as defined in the Term Loan Facility Agreement) (for a period
of three months) or Alternate Base Rate (as defined in the Term Loan Facility Agreement) (without giving effect to any floor specified
in the definition thereof) is greater than any applicable floor on the date on which the Effective Yield is determined, the floor
will be disregarded in calculating the Effective Yield.

 

“Eligible Accounts”
means those Accounts created by a Borrower in the ordinary course of its business, that arise out of such Borrower’s sale
of goods or rendition of services, that comply with each of the representations and warranties respecting Eligible Accounts made
in the Loan Documents, and that are not excluded as ineligible by virtue of one or more of the excluding criteria set forth below;
provided, that such criteria may be revised from time to time by Agent in Agent’s Permitted Discretion to address
the results of any information with respect to the Borrowers’ business or assets of which Agent becomes aware after the Closing
Date, including any field examination performed by (or on behalf of) Agent from time to time after the Closing Date. In determining
the amount to be included, Eligible Accounts shall be calculated net of customer deposits, unapplied cash, taxes, finance charges,
service charges, discounts, credits, allowances, and rebates. Eligible Accounts shall not include the following:

 

    	 	-24-	 

     

    

 

(a)         Accounts
that the Account Debtor has failed to pay within 90 days of original invoice date,

 

(b)         Accounts
owed by an Account Debtor (or its Affiliates) where 50% or more of all Accounts owed by that Account Debtor (or its Affiliates)
are deemed ineligible under clause (a) above,

 

(c)         Accounts
with respect to which the Account Debtor is an Affiliate of any Borrower or an employee or agent of any Borrower or any Affiliate
of any Borrower,

 

(d)         Accounts
arising in a transaction wherein goods are placed on consignment or are sold pursuant to a guaranteed sale, a sale or return, a
sale on approval, a bill and hold, or any other terms by reason of which the payment by the Account Debtor may be conditional,

 

(e)         Accounts
that are not payable in Dollars; provided that UK Eligible Accounts may also be payable in GBP,

 

(f)          Accounts
with respect to which the Account Debtor either (i) does not maintain its chief executive office in the United States (in the case
of US Eligible Accounts) or the United Kingdom (in the case of UK Eligible Accounts), or (ii) is not organized under the laws of
the United States or any state thereof States (in the case of US Eligible Accounts) or the United Kingdom (in the case of UK Eligible
Accounts), or (iii) is the government of any foreign country or sovereign state, or of any state, province, municipality, or other
political subdivision thereof, or of any department, agency, public corporation, or other instrumentality thereof, unless (A) the
Account is supported by an irrevocable letter of credit reasonably satisfactory to Agent (as to form, substance, and issuer or
domestic confirming bank) that has been delivered to Agent and is directly drawable by Agent, or (B) the Account is covered by
credit insurance in form, substance, and amount, and by an insurer, reasonably satisfactory to Agent,

 

(g)         Accounts
with respect to which the Account Debtor is either (i) the United States or any department, agency, or instrumentality of the United
States (exclusive, however, of Accounts with respect to which Borrowers have complied, to the reasonable satisfaction of Agent,
with the Assignment of Claims Act, 31 USC §3727), or (ii) any state of the United States,

 

(h)         Accounts
with respect to which the Account Debtor is a creditor of a Borrower, has or has asserted a right of recoupment or setoff, or has
disputed its obligation to pay all or any portion of the Account, to the extent of such claim, right of recoupment or setoff, or
dispute,

 

(i)          Accounts
with respect to an Account Debtor whose total obligations owing to Borrowers exceed 10% (such percentage, as applied to a particular
Account Debtor, being subject to reduction by Agent in its Permitted Discretion if the creditworthiness of such Account Debtor
deteriorates) of all Eligible Accounts, to the extent of the obligations owing by such Account Debtor in excess of such percentage;
provided, that, in each case, the amount of Eligible Accounts that are excluded because they exceed the foregoing percentage
shall be determined by Agent based on all of the otherwise Eligible Accounts prior to giving effect to any eliminations based upon
the foregoing concentration limit,

 

    	 	-25-	 

     

    

 

(j)          Accounts
with respect to which the Account Debtor is subject to an Insolvency Proceeding, is not Solvent, has gone out of business, or as
to which any Borrower has received notice of an imminent Insolvency Proceeding or a material impairment of the financial condition
of such Account Debtor,

 

(k)         Accounts,
the collection of which, Agent, in its Permitted Discretion, believes to be doubtful, including by reason of the Account Debtor’s
financial condition,

 

(l)          Accounts
that are not subject to a valid and perfected first priority Agent’s Lien,

 

(m)        Accounts
with respect to which (i) the goods giving rise to such Account have not been shipped and billed to the Account Debtor, or (ii)
the services giving rise to such Account have not been performed and billed to the Account Debtor,

 

(n)         Accounts
with respect to which the Account Debtor is a Sanctioned Person or Sanctioned Entity,

 

(o)         Accounts
that represent the right to receive progress payments or other advance billings that are due prior to the completion of performance
by the applicable Borrower of the subject contract for goods or services,

 

(p)         Accounts
owned by a target acquired in connection with a Permitted Acquisition, until the completion of a field examination with respect
to such target, in each case, reasonably satisfactory to Agent (which field examination may be conducted prior to the closing of
such Permitted Acquisition), and

 

(q)         Accounts
which are subject to any deduction under the CIS Regulations (to the extent of such deduction).

 

“Eligible Inventory”
means Inventory of a UK Borrower, that complies with each of the representations and warranties respecting Eligible Inventory made
in the Loan Documents, and that is not excluded as ineligible by virtue of one or more of the excluding criteria set forth below;
provided, that such criteria may be revised from time to time by Agent in Agent’s Permitted Discretion to address
the results of any field examination or appraisal performed by Agent from time to time after the Closing Date. In determining the
amount to be so included, Inventory shall be valued at the lower of cost or market on a basis consistent with the UK Borrowers’
historical accounting practices. An item of Inventory shall not be included in Eligible Inventory if

 

(a)          it
is obsolete, slow-moving, not in good condition or not currently usable or saleable,

 

(b)          it
is held at third party premises without acceptable access arrangements for Agent,

 

(c)          it
constitutes materials over which UK Security Agent does not have a valid first ranking Lien under the UK Security Documents,

 

(d)         constitutes
packaging or shipping materials,

 

(e)          it
constitutes returned, damaged or defective materials,

 

    	 	-26-	 

     

    

 

(f)          it
is held by a UK Borrower as consignee for a third party;

 

(g)         it
is not the property of the relevant UK Borrower by virtue of retention of title or Romalpa provisions in favour of any person,

 

(h)         it
is scrap,

 

(i)           it
is in transit outside property which is owned and controlled by any UK Borrower except in cases where they are (i) in transit between
such properties and the aggregate value of such Inventory does not at any time exceed the sum of $10,000, or

 

(j)           it
is unsuitable for forming the basis of a lending decision as a result of any legal, regulatory or similar consideration.

 

“Eligible Rolling
Stock Collateral” means the UK Equipment listed in the Initial Eligible Rolling Stock Schedule and any additional mobile
and static pumps or other classes of assets with the consent of Agent (in the exercise of its Permitted Discretion) acquired by
a UK Borrower for the purpose of hire to customers save for any such UK Equipment which (in the opinion of Agent (acting reasonably)
and after consultation with the UK Administrative Borrower):

 

(a)         is
work-in-progress,

 

(b)         is
not the property of a UK Borrower or in respect of which the purchase price has not been paid by that UK Borrower in full,

 

(c)         is
obsolete, damaged, defective or not currently usable, except as necessitated for repair or maintenance in the ordinary course of
operations.

 

(d)         is
located outside of the United Kingdom,

 

(e)          is
not subject to a Lien in favor of UK Security Agent under the UK Security Documents, or

 

(f)           is
unsuitable for forming the basis of a lending decision as a result of any regulatory or similar consideration relating to its use.

 

“Eligible Transferee”
means (a) any Lender (other than a Defaulting Lender), any Affiliate of any Lender and any Related Fund of any Lender; and (b)
(i) a commercial bank organized under the laws of the United States or any state thereof, and having total assets in excess of
$1,000,000,000; (ii) a savings and loan association or savings bank organized under the laws of the United States or any state
thereof, and having total assets in excess of $1,000,000,000; (iii) a commercial bank organized under the laws of any other country
or a political subdivision thereof; provided that (A) (x) such bank is acting through a branch or agency located in the
United States or (y) such bank is organized under the laws of a country that is a member of the Organization for Economic Cooperation
and Development or a political subdivision of such country, and (B) such bank has total assets in excess of $1,000,000,000; (d)
any other entity (other than a natural person) that is an “accredited investor” (as defined in Regulation D under the
Securities Act) that extends credit or buys loans as one of its businesses including insurance companies, investment or mutual
funds and lease financing companies, and having total assets in excess of $1,000,000,000; and (f) during the continuation of an
Event of Default, any other Person approved by Agent; provided that no Sponsor Affiliated Entity shall qualify as an Eligible
Transferee.

 

    	 	-27-	 

     

    

 

“Environmental
Claim” means any investigation, notice, notice of violation, claim, action, suit, proceeding, demand, abatement order
or other order or directive (conditional or otherwise), by any Governmental Authority or any other Person, arising (a) pursuant
to or in connection with any actual or alleged violation of any Environmental Law or actual or alleged Environmental Liability;
(b) in connection with any Hazardous Material or any actual or alleged Hazardous Materials Activity; or (c) in connection with
any actual or alleged damage, injury, threat or harm to health, safety, natural resources or the environment.

 

“Environmental
Laws” means any and all applicable Requirements of Law and Governmental Authorizations relating to (a) environmental
matters, including those relating to pollution or protection of the environment or to any Hazardous Materials Activity; or (b)
the generation, use, storage, transportation or disposal of or exposure to hazardous or toxic wastes or materials.

 

“Environmental
Liability” means any liability, contingent or otherwise (including any liability for damages, costs of environmental
remediation, fines, penalties or indemnities), directly or indirectly resulting from, based upon or relating to (a) any Environmental
Law, (b) any Hazardous Material Activities, (c) exposure to any Hazardous Materials, or (d) any contract pursuant to which liability
is assumed or imposed with respect to any of the foregoing.

 

“Equipment”
means equipment (as that term is defined in the Code).

 

“Equity Contribution”
has the meaning specified therefor in the Recitals to the Agreement.

 

“Equity Interests”
means, with respect to a Person, all of the shares, options, warrants, interests, participations, or other equivalents (regardless
of how designated) of or in such Person, whether voting or nonvoting, including capital stock (or other ownership or profit interests
or units), preferred stock, or any other “equity security” (as such term is defined in Rule 3a11-1 of the General Rules
and Regulations promulgated by the SEC under the Exchange Act).

 

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended, and any successor statute thereto.

 

“ERISA Affiliate”
means, as applied to any Person, (a) any corporation which is a member of a controlled group of corporations within the meaning
of Section 414(b) of the IRC of which that Person is a member; (b) any trade or business (whether or not incorporated) which is
a member of a group of trades or businesses under common control within the meaning of Section 414(c) of the IRC of which that
Person is a member; and (c) any member of an affiliated service group within the meaning of Section 414(m) or (o) of the IRC of
which that Person, any corporation described in clause (a) above or any trade or business described in clause (b)
above is a member.

 

    	 	-28-	 

     

    

 

“ERISA Event”
means (a) a “reportable event” within the meaning of Section 4043 of ERISA and the regulations issued thereunder with
respect to any Pension Plan (excluding those for which the 30-day notice period has been waived); (b) the failure to meet the minimum
funding standard of Sections 412 or 430 of the IRC or Sections 302 or 303 of ERISA with respect to any Pension Plan (whether or
not waived in accordance with Section 412(c) of the IRC); (c) the occurrence of a non-exempt prohibited transaction within the
meaning of Section 4975 of the IRC or Section 406 of ERISA with respect to which a Borrower or any of its Restricted Subsidiaries
is a “disqualified person” (within the meaning of Section 4975 of the IRC) or a “party in interest” (within
the meaning of Section 3(14) of ERISA); (d) the provision by the administrator of any Pension Plan pursuant to Section 4041(a)(2)
or Section 302 of ERISA of a notice of intent to terminate such plan in a distress termination described in Section 4041(c) of
ERISA; (e) the withdrawal by any Borrower or any of its Restricted Subsidiaries or any of their respective ERISA Affiliates from
any Pension Plan with two or more contributing sponsors or the termination of any such Pension Plan resulting in liability to any
Borrower or any of its Restricted Subsidiaries or any of their respective ERISA Affiliates pursuant to Section 4063 or 4064 of
ERISA; (f) the institution by the PBGC of proceedings to terminate any Pension Plan or to appoint a trustee to administer any Pension
Plan under Section 4042 of ERISA; (g) the imposition of liability on any Borrower or any of its Restricted Subsidiaries or any
of their respective ERISA Affiliates pursuant to Section 4062(e) or 4069 of ERISA or by reason of the application of Section 4212(c)
of ERISA; (h) a complete or partial withdrawal (within the meaning of Sections 4203 and 4205 of ERISA) of any Borrower or any of
its Restricted Subsidiaries or any of their respective ERISA Affiliates from any Multiemployer Plan if there is any potential liability
therefor under Title IV of ERISA, or the receipt by any Borrower or any of its Restricted Subsidiaries or any of their respective
ERISA Affiliates of notice from any Multiemployer Plan that it is “insolvent” (within the meaning of Section 4245 of
ERISA) or in “endangered” or “critical” status (within the meaning of Section 432 of the IRC or Section
305 of ERISA), or that it intends to terminate or has terminated under Section 4041A or 4042 of ERISA; (i) the incurrence of liability
or the imposition of a Lien pursuant to Section 436 or 430(k) of the IRC or pursuant to ERISA with respect to any Pension Plan;
(j) any Foreign Benefit Event; or (k) any other event or condition with respect to a Pension Plan or Multiemployer Plan that could
result in liability of any Borrower or any of its Restricted Subsidiaries.

 

“EU Bail-In
Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor
person), as in effect from time to time.

 

“European Member
State” means any member state of the European Union.

 

“European Union”
means the European Union, as formed by the Treaty on European Union on November 1, 1993 (the Maastricht Treaty).

 

“Event of Default”
has the meaning specified therefor in Section 8.1 of the Agreement.

 

“Excess Availability”
means, as of any date of determination, an amount equal to (a) the Line Cap, minus (b) the then outstanding Revolver Usage.

 

“Exchange Act”
means the Securities Exchange Act of 1934, as in effect from time to time.

 

“Excluded Asset”
has the meaning specified therefor in the US Guaranty and Security Agreement.

 

“Excluded Subsidiary”
means any Excluded UK Guarantor Subsidiary or any Excluded US Guarantor Subsidiary, as the context requires.

 

“Excluded Swap
Obligation” means, with respect to any Loan Party, any Swap Obligation if, and to the extent that, all or a portion of
the guaranty of such Loan Party of (including by virtue of the joint and several liability provisions of Section 2.15),
or the grant by such Loan Party of a security interest to secure, such Swap Obligation (or any guaranty thereof) is or becomes
illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application
or official interpretation of any thereof) by virtue of such Loan Party’s failure for any reason to constitute an “eligible
contract participant” as defined in the Commodity Exchange Act and the regulations thereunder at the time the guaranty of
such Loan Party or the grant of such security interest becomes effective with respect to such Swap Obligation. If a Swap Obligation
arises under a master agreement governing more than one swap, such exclusion shall apply only to the portion of such Swap Obligation
that is attributable to swaps for which such guaranty or security interest is or becomes illegal.

 

    	 	-29-	 

     

    

 

“Excluded Taxes”
means (i) any tax imposed on the net income or net profits of any Lender or any Participant (including any franchise taxes and
branch profits taxes), in each case imposed by the jurisdiction (or by any political subdivision or taxing authority thereof) in
which such Lender or such Participant is organized or the jurisdiction (or by any political subdivision or taxing authority thereof)
in which such Lender’s or such Participant’s principal office is located in or as a result of a present or former connection
between such Lender or such Participant and the jurisdiction or taxing authority imposing the tax (other than any such connection
arising solely from such Lender or such Participant having executed, delivered or performed its obligations or received payment
under, or enforced its rights or remedies under this Agreement or any other Loan Document), (ii) withholding taxes that would not
have been imposed but for a Lender’s or a Participant’s failure to comply with the requirements of Section 16.2
of this Agreement, (iii) any United States federal withholding taxes that would be imposed on amounts payable to a Foreign Lender
based upon the applicable withholding rate in effect at the time such Foreign Lender becomes a party to this Agreement (or designates
a new lending office, other than a designation made at the request of a Loan Party), except that Excluded Taxes shall not
include (A) any amount that such Foreign Lender (or its assignor, if any) was previously entitled to receive pursuant to Section
16.1 of this Agreement, if any, with respect to such withholding tax at the time such Foreign Lender becomes a party to this
Agreement (or designates a new lending office), and (B) additional United States federal withholding taxes that may be imposed
after the time such Foreign Lender becomes a party to this Agreement (or designates a new lending office), as a result of a change
in law, rule, regulation, treaty, order or other decision or other Change in Law with respect to any of the foregoing by any Governmental
Authority, and (iv) any United States federal withholding taxes imposed under FATCA.

 

“Excluded UK
Guarantor Subsidiary” means (a) any Immaterial Subsidiary, (b) any Subsidiary of Holdings (i) that is prohibited from
providing a guarantee of the UK Obligations by (A) any law or regulation or (B) any contractual obligation that, in the case of
this clause (B), exists on the Closing Date or at the time such Subsidiary becomes a Subsidiary of Holdings (and was not
entered into in contemplation thereof), (ii) that would require a governmental (including regulatory) consent, approval, license
or authorization in order to provide a guarantee of the UK Obligations (unless such consent, approval, license or authorization
has been obtained), or (iii) where the provision of a guarantee of the UK Obligations would result in material adverse tax consequences
as reasonably determined by the UK Borrowers (in consultation with Agent), (c) any not-for-profit Subsidiaries, (d) any captive
insurance Subsidiaries, and (e) any Subsidiary of Holdings to the extent that the burden or cost of guaranteeing the UK Obligations
or providing the relevant security outweighs the benefit afforded thereby and it is unnecessary for the perfection of any Collateral,
in each case as reasonably agreed by the UK Borrowers and Agent.

 

“Excluded US
Guarantor Subsidiary” means (a) any Subsidiary of Holdings that is (i) a Foreign Subsidiary, (ii) a Domestic Subsidiary
Holdco, (iii) a CFC, (iv) a Subsidiary of a Foreign Subsidiary, or (v) not a wholly-owned Restricted Subsidiary, (b) any Immaterial
Subsidiary, (c) any not-for-profit Subsidiaries, (d) any captive insurance Subsidiaries, (e) any Subsidiary of Holdings to the
extent that the burden or cost of guaranteeing the Obligations or providing the relevant security outweighs the benefit afforded
thereby and it is unnecessary for the perfection of any Collateral, in each case as reasonably agreed by the US Borrowers and Agent,
and (f) any Subsidiary of Holdings (i) that is prohibited from providing a guarantee of the US Obligations by (A) any law or regulation
or (B) any contractual obligation that, in the case of this clause (B), exists on the Closing Date or at the time such Subsidiary
becomes a Subsidiary of Holdings (and was not entered into in contemplation thereof), (ii) that would require a governmental (including
regulatory) consent, approval, license or authorization in order to provide a guarantee of the UK Obligations (unless such consent,
approval, license or authorization has been obtained), or (iii) where the provisions of a guarantee of the US Obligations would
result in material adverse tax consequences as reasonably determined by the US Borrowers (in consultation with Agent); provided,
that notwithstanding the foregoing in no event shall “Excluded US Guarantor Subsidiaries” include (x) any US Borrower
or (y) any Loan Party as such term is defined in the Term Loan Facility Agreement.

 

    	 	-30-	 

     

    

 

“Existing Credit
Agreement” means that certain Amended and Restated Credit Agreement, dated August 18, 2014, by and among Wells Fargo
Bank, National Association, the Lenders (as defined therein), CP Holdings LLC, Brundage Pumping, as borrower, and Eco-Pan US, as
borrower, as amended and in effect immediately prior to giving effect to the transactions contemplated hereby on the Closing Date.

 

“Existing Letters
of Credit” means those letters of credit described on Schedule E-1 to the Agreement.

 

“Expected Cost
Savings” has the meaning specified in the definition of “Consolidated Adjusted EBITDA”.

 

“Extraordinary
Advances” has the meaning specified therefor in Section 2.3(d)(iii) of this Agreement.

 

“FATCA”
means Sections 1471 through 1474 of the IRC, as of the date of this Agreement (or any amended or successor version that is substantively
comparable and not materially more onerous to comply with), and (a) any current or future regulations or official interpretations
thereof, (b) any agreements entered into pursuant to Section 1471(b)(1) of the IRC, and (c) any intergovernmental agreement entered
into by the United States (or any fiscal or regulatory legislation, rules, or practices adopted pursuant to any such intergovernmental
agreement entered into in connection therewith).

 

“FCPA”
means the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder.

 

“Fee Letter”
means that certain fee letter, dated as September 7, 2018, among Borrowers and Agent, in form and substance reasonably satisfactory
to Agent.

 

“Federal Funds
Rate” means, for any period, a fluctuating interest rate per annum equal to, for each day during such period, the weighted
average of the rates on overnight Federal funds transactions with members of the Federal Reserve System, as published on the next
succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which is a Business
Day, the average of the quotations for such day on such transactions received by Agent from three Federal funds brokers of recognized
standing selected by it (and, if any such rate is below zero, then the rate determined pursuant to this definition shall be deemed
to be zero).

 

“Financial Plan”
has the meaning specified therefor in Section 5.1(h) of this Agreement.

 

“Financial Support
Direction” means a financial support direction issued by the Pensions Regulator under section 43 of the Pensions Act
2004 (UK).

 

    	 	-31-	 

     

    

 

“First Lien
Leverage Ratio” means the ratio, as of any date of determination, of (a) Consolidated First Lien Debt (as defined
in the Term Loan Facility Agreement as in effect on the Closing Date) as of such date to (b) Consolidated Adjusted EBITDA
for the Test Period then most recently ended, in each case of the US Borrowers and their Restricted Subsidiaries on a consolidated
basis.

 

“Fiscal Quarter”
means a fiscal quarter of any Fiscal Year.

 

“Fiscal Year”
means the fiscal year of Holdings for financial reporting purposes hereunder ending on or about October 31 of each calendar
year.

 

“Fixed Charges”
means, with respect to any fiscal period and with respect to Borrowers determined on a consolidated basis in accordance with GAAP,
the sum, without duplication, of (a) Interest Expense accrued (other than interest paid-in-kind, amortization of financing fees,
and other non-cash Interest Expense) during such period, (b) scheduled principal payments in respect of Indebtedness that are required
to be paid during such period, (c) all federal, state, and local income taxes paid in cash during such period, (d) all management,
consulting, monitoring, and advisory fees paid in cash to Sponsor or its Affiliates during such period, (e) Restricted Payments
paid pursuant to Section 6.4(a)(i)(B) during such period (without duplication of any items under clause (c) of this
definition) and (f) all Restricted Payments pursuant to Sections 6.4(a)(ii)(A), 6.4(a)(iii), 6.4(a)(viii)
and 6.4(a)(ix) in excess of $25,000,000 in the aggregate paid (whether in cash or other property, other than common Equity
Interests) during such period. Notwithstanding anything to the contrary, it is agreed, that for the purpose of calculating the
Fixed Charge Coverage Ratio for any period that includes the fiscal quarters ended on or about October 31, 2017, January 31, 2018,
April 30, 2018 and July 31, 2018, (i) Fixed Charges for the fiscal quarter ended on or about October 31, 2017 shall be deemed to
be $11,600,000, (ii) Fixed Charges for the fiscal quarter ended on or about January 31, 2018 shall be deemed to be $10,200,000,
(iii) Fixed Charges for the fiscal quarter ended on or about April 30, 2018 shall be deemed to be $11,600,000, and (iv) Fixed Charges
for the fiscal quarter ended on or about July 31, 2018 shall be deemed to be $11,500,000, in each case, as adjusted on a Pro Forma
Basis, as applicable.

 

“Fixed Charge
Coverage Ratio” means, with respect to any fiscal period and with respect to Borrowers determined on a consolidated basis
in accordance with GAAP, the ratio of (a) EBITDA for such period minus Capital Expenditures made (to the extent not already
incurred in a prior period) or incurred during such period (except to the extent financed by proceeds of any Indebtedness permitted
under Section 6.1 (other than Revolving Loans) or proceeds of the issuance, or contribution made in respect, of Equity Interests)
plus the amount of Net Proceeds received during such period from the sale of any machinery or Equipment owned by a Loan
Party, to (b) Fixed Charges for such period.

 

“Foreclosed
Borrower” has the meaning specified therefor in Section 2.14(h) of this Agreement.

 

“Foreign Benefit
Event” means, with respect to any Foreign Pension Plan, (a) the existence of unfunded liabilities in excess of the amount
permitted under any applicable law, or in excess of the amount that would be permitted absent a waiver from a Governmental Authority,
(b) the failure to make the required contributions or payments, under any applicable law, on or before the due date for such contributions
or payments, (c) the receipt of a notice by a Governmental Authority relating to the intention to terminate any such Foreign Pension
Plan or to appoint a trustee or similar official to administer any such Foreign Pension Plan, or alleging the insolvency of any
such Foreign Pension Plan, (d) the incurrence of any liability by Holdings or any of its Restricted Subsidiaries under applicable
law on account of the complete or partial termination of such Foreign Pension Plan or the complete or partial withdrawal of any
participating employer therein, or (e) the occurrence of any transaction that is prohibited under any applicable law and that could
reasonably be expected to result in the incurrence of any liability Holdings or any of its Restricted Subsidiaries, or the imposition
on the Borrower or any of its Restricted Subsidiaries of any fine, excise tax or penalty resulting from any noncompliance with
any applicable law.

 

    	 	-32-	 

     

    

 

“Foreign Lender”
means any Lender or Participant that is not a United States person within the meaning of IRC section 7701(a)(30).

 

“Foreign Pension
Plan” means any Plan that under applicable law other than the laws of the United States or any political subdivision
thereof, is required to be funded through a trust or other funding vehicle other than a trust or funding vehicle maintained exclusively
by a Governmental Authority.

 

“Foreign Subsidiary”
means any Subsidiary that is not a Domestic Subsidiary.

 

“Fund Affiliates”
shall mean, with respect to any Person, any other Person which (a) directly or indirectly, is in Control of, is Controlled by,
or is under common Control with, such Person and (b) is organized by the former such Person (or by a Person Controlling both of
such Persons) primarily for the purpose of making equity or debt investments in one or more companies, but, in each case, not including
any of such Person’s portfolio companies.

 

“Funding Date”
means the date on which a Borrowing occurs.

 

“Funding Losses”
has the meaning specified therefor in Section 2.12(b)(ii) of this Agreement.

 

“GAAP”
means generally accepted accounting principles as in effect from time to time in the United States, consistently applied.

 

“GBP”
or “£” means the lawful currency of the United Kingdom, as in effect from time to time.

 

“Governing Documents”
means (a) with respect to any corporation, its certificate or articles of incorporation or organization and its by-laws, (b) with
respect to any limited partnership, its certificate of limited partnership and its partnership agreement, (c) with respect to any
general partnership, its partnership agreement, (d) with respect to any limited liability company, its articles of organization
or certificate of formation or incorporation, and its operating agreement and/or memorandum and articles of association and (e)
with respect to any other form of entity, such other organizational documents required by local Requirements of Law or customary
under such jurisdiction to document the formation and governance principles of such type of entity. In the event that any term
or condition of this Agreement or any other Loan Document requires any Organizational Document to be certified by a secretary of
state or similar governmental official, the reference to any such “Governing Document” shall only be to a document
of a type customarily certified by such governmental official.

 

“Governmental
Authority” means the government of any nation or any political subdivision thereof, whether at the national, state, territorial,
provincial, municipal or any other level, and any agency, authority, instrumentality, regulatory body, court, central bank or other
entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of, or pertaining
to, government (including any supra-national bodies such as the European Union or the European Central Bank).

 

“Growth Amount”
means the portion of the Available Amount included in the calculation thereof pursuant to clause (a)(ii) of the definition
thereof.

 

    	 	-33-	 

     

    

 

“Guarantee”
of or by any Person (the “guarantor”) means any obligation, contingent or otherwise, of the guarantor guaranteeing
or having the economic effect of guaranteeing any Indebtedness or other monetary obligation of any other Person (the “primary
obligor”) in any manner and including any obligation of the guarantor (a) to purchase or pay (or advance or supply funds
for the purchase or payment of) such Indebtedness or other monetary obligation or to purchase (or to advance or supply funds for
the purchase of) any security for the payment thereof, (b) to purchase or lease property, securities or services for the purpose
of assuring the owner of such Indebtedness or other monetary obligation of the payment thereof, (c) to maintain working capital,
equity capital or any other financial statement condition or liquidity of the primary obligor so as to enable the primary obligor
to pay such Indebtedness or other monetary obligation, (d) as an account party in respect of any letter of credit or letter of
guaranty issued to support such Indebtedness or monetary obligation, (e) entered into for the purpose of assuring in any other
manner the obligee in respect of such Indebtedness or other monetary obligation of the payment or performance thereof or to protect
such obligee against loss in respect thereof (in whole or in part) or (f) secured by any Lien on any assets of such guarantor securing
any Indebtedness or other monetary obligation of any other Person, whether or not such Indebtedness or other monetary obligation
is assumed by such guarantor (or any right, contingent or otherwise, of any holder of such Indebtedness or other monetary obligation
to obtain any such Lien); provided that the term “Guarantee” shall not include endorsements for collection or
deposit in the ordinary course of business, or customary and reasonable indemnity obligations in effect on the Closing Date or
entered into in connection with any acquisition, Disposition or other transaction permitted under this Agreement (other than such
obligations with respect to Indebtedness). The amount of any Guarantee shall be deemed to be an amount equal to the stated or determinable
amount of the related primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or determinable,
the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in good faith.

 

“Guarantors”
means US Guarantors and UK Guarantors, as the context requires.

 

“Hazardous Materials”
means any chemical, material, substance or waste, or any constituent thereof, (i) that is defined, listed or regulated as hazardous,
toxic, a pollutant or a contaminant, or words or similar import under Environmental Law or (ii) exposure to which is prohibited,
limited or regulated by any Environmental Law or any Governmental Authority.

 

“Hazardous Materials
Activity” means any past, current, proposed or threatened activity, event or occurrence involving any Hazardous Material,
including the use, manufacture, possession, storage, holding, presence, existence, location, Release, threatened Release, discharge,
placement, generation, transportation, import, export, processing, construction, treatment, abatement, removal, remediation, disposal,
disposition or handling of any Hazardous Material, and any corrective action or response action with respect to any of the foregoing.

 

“Hedge Agreement”
means a “swap agreement” as that term is defined in Section 101(53B)(A) of the Bankruptcy Code.

 

“Hedge Obligations”
means UK Hedge Obligations or US Hedge Obligations, as the context requires.

 

“Hedge Provider”
means Wells Fargo or any of its Affiliates.

 

“HMRC DT Treaty
Passport scheme” means the Board of H.M. Revenue and Customs Double Taxation Treaty Passport scheme.

 

“Holdings”
has the meaning assigned in the Preamble hereto.

 

    	 	-34-	 

     

    

 

“Holdings Materials”
has the meaning specified therefor in Section 5.1(m) of this Agreement.

 

“Immaterial
Subsidiary” means any Subsidiary of Holdings that, as of the most recently-ended fiscal quarter of Holdings for which
financial statements were, or were required to be, delivered hereunder, does not have, (a) assets in excess of 2.5% of Consolidated
Total Assets of Borrowers and their respective Restricted Subsidiaries; or (b) revenues for such fiscal quarter in excess of 2.5%
of the combined revenues of Borrowers and their respective Restricted Subsidiaries for such period; provided that (x) all
Immaterial Subsidiaries, taken as a whole, shall not have (1) assets with a value in excess of 5.0% of Consolidated Total Assets
of Borrowers and their respective Restricted Subsidiaries or (2) revenues for such fiscal quarter in excess of 5.0% of the combined
revenues of Borrowers and their respective Restricted Subsidiaries for such period; (y) in no event shall (1) a Borrower be considered
an Immaterial Subsidiary or (2) an Immaterial Subsidiary hold any assets that are material to the business of Holdings and its
Restricted Subsidiaries.

 

“Immediate Family
Member” means, with respect to any individual, such individual’s child, stepchild, grandchild or more remote descendant,
parent, stepparent, grandparent, spouse, former spouse, domestic partner, former domestic partner, sibling, mother-in-law, father-in-law,
son-in-law and daughter-in-law (including adoptive relationships), any trust, partnership or other bona fide estate-planning vehicle
the only beneficiaries of which are any of the foregoing individuals, such individual’s estate (or an executor or administrator
acting on its behalf), heirs or legatees or any private foundation or fund that is controlled by any of the foregoing individuals
or any donor-advised fund of which any such individual is the donor.

 

“Increase Date”
has the meaning as assigned in Section 2.16(a).

 

“Incremental
Agreement” has the meaning as assigned in Section 2.16(e)(ii).

 

“Incremental
Commitment Date” has the meaning as assigned in Section 2.16(c).

 

“Incremental
Equivalent Debt” has the meaning set out in the Term Loan Facility Agreement (as in effect on the Closing Date).

 

“Incremental
Revolving Commitments” has the meaning as assigned in Section 2.16(a).

 

“Incremental
Revolving Lender” has the meaning as assigned in Section 2.16(c).

 

    	 	-35-	 

     

    

 

“Indebtedness”
as applied to any Person means, without duplication, (a) all indebtedness for borrowed money of such Person; (b) that
portion of obligations with respect to Capital Leases to the extent recorded as a liability on a balance sheet (excluding the footnotes
thereto) of such Person prepared in accordance with GAAP; (c) all obligations of such Person evidenced by bonds, debentures,
notes or similar instruments to the extent the same would appear as a liability on a balance sheet (excluding the footnotes thereto)
of such Person prepared in accordance with GAAP; (d) any obligation owed for all or any part of the deferred purchase price
of property or services which purchase price is (A) due more than six months from the date of incurrence of the obligation in respect
thereof or (B) evidenced by a note or similar written instrument (excluding (i) any earn out obligation or purchase price adjustment
until such obligation (A) becomes a liability on the statement of financial position or balance sheet (excluding the footnotes
thereto) in accordance with GAAP and (B) has not been paid within 60 days after becoming due and payable, (ii) accrued expenses
and trade accounts payable in the ordinary course of business (including on an inter-company basis) and (iii) liabilities associated
with customer prepayments and deposits); (e) all Indebtedness of others secured by any Lien on any asset owned by such Person
regardless of whether the Indebtedness secured thereby have been assumed by such Person or is non-recourse to the credit of such
Person; (f) the face amount of any letter of credit issued for the account of such Person or as to which such Person is otherwise
liable for reimbursement of drawings (except to the extent the relevant reimbursement obligations relate to trade payables and
are satisfied within 3 days following the incurrence thereof); (g) the Guarantee by such Person of the Indebtedness of another;
(h) all obligations of such Person in respect of any Disqualified Capital Stock and (i) all net obligations of such Person
in respect of any Derivative Transaction, including any Hedge Agreement, whether or not entered into for hedging or speculative
purposes; provided that (i) in no event shall obligations under any Derivative Transaction be deemed “Indebtedness”
for any calculation of the First Lien Leverage Ratio, Total Leverage Ratio, the Secured Leverage Ratio or any other financial ratio
under this Agreement and (ii) the amount of Indebtedness of any Person for purposes of clause (e) shall be deemed to
be equal to the lesser of (A) the aggregate unpaid amount of such Indebtedness and (B) the fair market value of the property encumbered
thereby as determined by such Person in good faith. For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness
of any third person (including any partnership in which such Person is a general partner and any unincorporated joint venture in
which such Person is a joint venturer) to the extent such Person would be liable therefor under applicable Requirements of Law
or any agreement or instrument by virtue of such Person’s ownership interest in such Person, except to the extent the terms
of such Indebtedness provided that such Person is not liable therefor; provided that notwithstanding anything herein to
the contrary, the term “Indebtedness” shall not include, and shall be calculated without giving effect to, the effects
of Accounting Standards Codification Topic 815 and related interpretations to the extent such effects would otherwise increase
or decrease an amount of Indebtedness for any purpose hereunder as a result of accounting for any embedded derivatives created
by the terms of such Indebtedness.

 

“Indemnified
Liabilities” has the meaning specified therefor in Section 10.3 of this Agreement.

 

“Indemnified
Person” has the meaning specified therefor in Section 10.3 of this Agreement.

 

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

 

“Information”
has the meaning specified therefor in Section 4.11(a) of this Agreement.

 

“Information
Memorandum” means the Confidential Information Memorandum posted to SyndTrak on October 22, 2018 relating to Holdings,
Intermediate Holdings, CP Holdings LLC, the Borrowers and their Restricted Subsidiaries and the Transactions.

 

“Initial Eligible
Rolling Stock Schedule” means the schedule of Eligible Rolling Stock Collateral, in a form and substance acceptable to
Agent, delivered by the UK Administrative Borrower as a closing condition under the Agreement.

 

“Insolvency
Proceeding” means any proceeding commenced by or against any Person under any provision of the Bankruptcy Code or under
any other Debtor Relief Law or other national, state, provincial or federal bankruptcy or insolvency law or equivalent laws of
any other jurisdiction, assignments for the benefit of creditors, formal or informal moratoria, compositions, extensions generally
with creditors, or proceedings seeking reorganization, arrangement, or other similar relief, including, with respect to any UK
Person, any corporate action, legal proceedings, or other procedure or formal step taken in relation to: (i) a suspension of payments,
a moratorium of its indebtedness generally (or any class thereof), its winding-up, dissolution, administration, or reorganization
(by way of voluntary arrangement, scheme of arrangement or otherwise), other than pursuant to a consolidation, amalgamation or
merger permitted under the terms of this Agreement, (ii) a composition, compromise, assignment or similar arrangement for the financial
benefit of its creditors, or (iii) the appointment of a liquidator, a receiver, an administrator, compulsory manager or other similar
officer in respect of it or any of its assets.

 

    	 	-36-	 

     

    

 

“Institutional
Investor” means an institutional investor that is engaged in making financial investments and is identified by written
notice from the US Administrative Borrower to the Agent delivered no later than fifteen (15) calendar days after the Closing Date.

 

“Intercompany
Subordination Agreement” means that certain Intercompany Subordination Agreement, dated as of the date hereof, by Holdings,
each of its Subsidiaries, and Agent, the form and substance of which is reasonably satisfactory to Agent.

 

“Intercreditor
Agreement” means that certain Intercreditor Agreement, dated as of the date hereof by and among Agent, Term Agent and
the Loan Parties, as the same may be amended, restated, supplemented or modified from time to time in accordance with the terms
hereof and thereof.

 

“Interest Expense”
means, for any period, the aggregate of the interest expense of Holdings and its Subsidiaries for such period, determined on a
consolidated basis in accordance with GAAP.

 

“Interest Period”
means, (i) with respect to each LIBOR Rate Loan to a US Borrower, a period commencing on the date of the making of such LIBOR Rate
Loan (or the continuation of a LIBOR Rate Loan or the conversion of a Base Rate Loan to a LIBOR Rate Loan) and ending 1, 2, 3 or
6 months thereafter and (ii) with respect to each LIBOR Rate Loan to a UK Borrower, 1 month; provided, that (a) interest
shall accrue at the applicable rate based upon the LIBOR Rate from and including the first day of each Interest Period to, but
excluding, the day on which any Interest Period expires, (b) any Interest Period that would end on a day that is not a Business
Day shall be extended to the next succeeding Business Day unless such Business Day falls in another calendar month, in which case
such Interest Period shall end on the next preceding Business Day, (c) with respect to an Interest Period that begins on the last
Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the
end of such Interest Period), the Interest Period shall end on the last Business Day of the calendar month that is 1, 2, or 3 months
after the date on which the Interest Period began, as applicable, and (d) Borrowers may not elect an Interest Period which will
end after the Maturity Date.

 

“Interim Eligible
Rolling Stock Collateral” means Eligible Rolling Stock Collateral that was acquired after the most recent acceptable
appraisal of Eligible Rolling Stock Collateral delivered to Agent and is not Appraised Eligible Rolling Stock Collateral. For the
avoidance of doubt it is understood and agreed that upon such Interim Eligible Rolling Stock Collateral becoming subject to an
appraisal thereof delivered to Agent in form and substance satisfactory to it, such Interim Eligible Rolling Stock Collateral shall
cease to be Interim Eligible Rolling Stock Collateral and shall constitute Appraised Eligible Rolling Stock Collateral.

 

“Intermediate
Holdings” has the meaning assigned in the Preamble hereto.

 

“Inventory”
means inventory (as that term is defined in the Code).

 

    	 	-37-	 

     

    

 

“Investment”
means (a) any purchase or other acquisition by Holdings or any of its Restricted Subsidiaries of any of the Securities of any other
Person, (b) the acquisition by purchase or otherwise (other than any purchase or other acquisition of inventory, materials, supplies
and/or equipment in the ordinary course of business) of all or a substantial portion of the business, property or fixed assets
of any other Person or any division or line of business or other business unit of any other Person and (c) any loan, advance or
capital contribution by any Borrower or any of its Restricted Subsidiaries to any other Person. Subject to ‎Section 5.11,
the amount of any Investment shall be the original cost of such Investment, plus the cost of any addition thereto that would
otherwise constitute an Investment, without any adjustments for increases or decreases in value, or write-ups, write-downs or write-offs
with respect thereto, but giving effect to any repayments of principal in the case of any Investment in the form of a loan and
any return of capital or return on Investment in the case of any equity Investment (whether as a distribution, dividend, redemption
or sale but not in excess of the amount of the relevant initial Investment).

 

“Investors”
has the meaning specified therefor in the Recitals to this Agreement.

 

“IP Rights”
has the meaning specified therefor in Section 4.5(c) of this Agreement.

 

“IRC”
means the Internal Revenue Code of 1986, as in effect from time to time.

 

“ISP”
means, with respect to any Letter of Credit, the International Standby Practices 1998 (International Chamber of Commerce Publication
No. 590) and any version or revision thereof accepted by the Issuing Bank for use.

 

“Issuer Document”
means, with respect to any Letter of Credit, a letter of credit application, a letter of credit agreement, or any other document,
agreement or instrument entered into (or to be entered into) by a Borrower in favor of Issuing Bank and relating to such Letter
of Credit.

 

“Issuing Bank”
means a US Issuing Bank or a UK Issuing Bank.

 

“Joinder Agreement”
means the Joinder Agreement substantially in the form of Exhibit B-2.

 

“Judgment Currency”
has the meaning specified therefor in Section 17.12 of this Agreement.

 

“Junior Indebtedness”
means any Indebtedness (other than Indebtedness (i) among the Borrowers and/or their Restricted Subsidiaries and (ii) under the
Term Loan Facility Agreement) that is expressly subordinated in right of payment to the Obligations with an individual outstanding
principal amount in excess of the Threshold Amount.

 

“Junior Lien
Indebtedness” means any Indebtedness that is secured by a security interest on the Collateral (other than Indebtedness
(i) among the Borrowers and/or their Restricted Subsidiaries and (ii) under the Term Loan Facility Agreement) that is expressly
junior or subordinated to the Lien securing the Obligations with an individual outstanding principal amount in excess of the Threshold
Amount.

 

“Latest Maturity
Date” means, as of any date of determination, the latest maturity or expiration date applicable to any Loan (as defined
in the Term Loan Facility Agreement) or commitment under the Term Loan Facility Agreement at such time, including the latest maturity
or expiration date of any Term Loan or Term Commitment (each such term as defined in the Term Loan Facility Agreement).

 

“Latest Term
Loan Maturity Date” means, as of any date of determination, the latest maturity or expiration date applicable to any
term loan or term commitment under the Term Loan Facility Agreement at such time, including the latest maturity or expiration date
of any Term Loan or any Additional Term Loan Commitment (each such term as defined in the Term Loan Facility Agreement).

 

    	 	-38-	 

     

    

 

“LCT Election”
has the meaning specified therefor in Section 1.8 of this Agreement.

 

“LCT Test Date”
has the meaning specified therefor in Section 1.8 of this Agreement.

 

“Lead Arranger”
has the meaning assigned in the Preamble hereto.

 

“Lead Common
Investor” means that certain equity investor in Holdings party to the Subscription Agreement, dated as of September 7,
2018, among such equity investor, Buyer and Holdings, which agreement has been provided by Buyer to the Agent on or prior to the
date hereof.

 

“Legal Reservations”
means (a) the principle that equitable remedies may be granted or refused at the discretion of a court and the limitation of enforcement
by laws relating to insolvency, reorganisation and other laws generally affecting the rights of creditors; (b) the time barring
of claims under the Limitation Acts, the possibility that an undertaking to assume liability for or indemnify a person against
non-payment of UK stamp duty may be void and defences of set-off or counterclaim; (c) similar principles, rights and defences under
the laws of any jurisdiction where a UK Borrower has a place of business or assets and (d) any other matters which are set out
as qualifications or reservations as to matters of law of general application in any legal opinion delivered to Agent in connection
with this Agreement.

 

“Lender”
has the meaning assigned in the Preamble hereto, shall include Issuing Bank and the Swing Lender, and shall also include
any other Person made a party to the Agreement pursuant to the provisions of Section 13.1 of this Agreement and “Lenders”
means each of the Lenders or any one or more of them.

 

“Lender Group”
means each of the Lenders (including Issuing Bank and the Swing Lender) and Agent, or any one or more of them.

 

“Lender Group
Expenses” means all (a) costs or expenses (including taxes and insurance premiums) required to be paid by Holdings or
its Subsidiaries under any of the Loan Documents that are paid, advanced, or incurred by the Lender Group, (b) documented out-of-pocket
fees or charges paid or incurred by Agent and/or UK Security Agent in connection with the Lender Group’s transactions with
Holdings and its Subsidiaries under any of the Loan Documents, including, photocopying, notarization, couriers and messengers,
telecommunication, public record searches, filing fees, recording fees, publication, real estate surveys, real estate title policies
and endorsements, and environmental audits, (c) Agent’s customary fees and charges imposed or incurred in connection with
any background checks or OFAC/PEP searches related to Holdings or its Subsidiaries, (d) Agent’s customary fees and charges
(as adjusted from time to time) with respect to the disbursement of funds (or the receipt of funds) to or for the account of any
Borrower (whether by wire transfer or otherwise), together with any out-of-pocket costs and expenses incurred in connection therewith,
(e) customary charges imposed or incurred by Agent resulting from the dishonor of checks payable by or to any Loan Party, (f) reasonable
documented out-of-pocket costs and expenses paid or incurred by the Lender Group to correct any default or enforce any provision
of the Loan Documents, or during the continuance of an Event of Default, in gaining possession of, maintaining, handling, preserving,
storing, shipping, selling, preparing for sale, or advertising to sell the Collateral, or any portion thereof, irrespective of
whether a sale is consummated, (g) field examination, appraisal, and valuation fees and expenses of Agent related to any field
examinations, appraisals, or valuation to the extent of the fees and charges (and up to the amount of any limitation) provided
in Section 2.10 of this Agreement, (h) Agent’s, UK Security Agent’s and Lenders’ reasonable costs and
expenses (including reasonable documented attorneys’ fees and expenses) relative to third party claims or any other lawsuit
or adverse proceeding paid or incurred, whether in enforcing or defending the Loan Documents or otherwise in connection with the
transactions contemplated by the Loan Documents, Agent’s Liens in and to the Collateral, or the Lender Group’s relationship
with Holdings or any of its Subsidiaries, (i) Agent’s reasonable documented costs and expenses (including reasonable documented
attorneys’ fees and due diligence expenses) incurred in advising, structuring, drafting, reviewing, administering (including
travel, meals, and lodging), syndicating (including reasonable costs and expenses relative to CUSIP, DXSyndicateTM,
SyndTrak or other communication costs incurred in connection with a syndication of the loan facilities), or amending, waiving,
or modifying the Loan Documents, and (j) Agent’s and each Lender’s reasonable documented costs and expenses (including
reasonable documented attorneys, accountants, consultants, and other advisors fees and expenses) incurred in terminating, enforcing
(including attorneys, accountants, consultants, and other advisors fees and expenses incurred in connection with a “workout,”
a “restructuring,” or an Insolvency Proceeding concerning Holdings or any of its Subsidiaries or in exercising rights
or remedies under the Loan Documents), or defending the Loan Documents, irrespective of whether a lawsuit or other adverse proceeding
is brought, or in taking any enforcement action or any Remedial Action with respect to the Collateral; provided, that notwithstanding
anything to contrary contained herein, the attorneys’ fees and disbursements referenced above shall be limited to the reasonable
fees and disbursements of attorneys of one firm of counsel for all members of the Lender Group and one local counsel for all members
of the Lender Group in each appropriate jurisdiction (and, to the extent required by the subject matter, one specialist counsel
for each specialized are of law in each appropriate jurisdiction).

 

    	 	-39-	 

     

    

 

“Lender Group
Representatives” has the meaning specified therefor in Section 17.9(a) of this Agreement.

 

“Lender-Related
Person” means, with respect to any Lender, such Lender, together with such Lender’s Affiliates, officers, directors,
employees, attorneys, and agents.

 

“Letter of Credit”
means a letter of credit (as that term is defined in the Code) issued by Issuing Bank.

 

“Letter of Credit
Collateralization” means either (a) providing cash collateral (pursuant to documentation reasonably satisfactory (including
that Agent or UK Security Agent has a first priority perfected Lien in such cash collateral) to Agent, including provisions that
specify that the Letter of Credit Fees and all commissions, fees, charges and expenses provided for in Section 2.11(k) of
this Agreement (including any fronting fees) will continue to accrue while the Letters of Credit are outstanding) to be held by
Agent or UK Security Agent for the benefit of the Revolving Lenders with Letter of Credit Exposure in an amount equal to 103% of
the then existing Letter of Credit Usage, (b) delivering to Agent documentation executed by all beneficiaries under the Letters
of Credit, in form and substance reasonably satisfactory to Agent and Issuing Bank, terminating all of such beneficiaries’
rights under the Letters of Credit, or (c) providing Agent with a standby letter of credit, in form and substance reasonably satisfactory
to Agent, from a commercial bank acceptable to Agent (in its sole discretion) in an amount equal to 103% of the then existing Letter
of Credit Usage (it being understood that the Letter of Credit Fee and all fronting fees set forth in the Agreement will continue
to accrue while the Letters of Credit are outstanding and that any such fees that accrue must be an amount that can be drawn under
any such standby letter of credit).

 

“Letter of Credit
Disbursement” means a payment made by Issuing Bank pursuant to a Letter of Credit.

 

“Letter of Credit
Exposure” means, as of any date of determination with respect to any Lender, such Lender’s participation in the
Letter of Credit Usage pursuant to Section 2.11(e) of this Agreement on such date.

 

    	 	-40-	 

     

    

 

“Letter of Credit
Fee” has the meaning specified therefor in Section 2.6(b) of this Agreement.

 

“Letter of Credit
Indemnified Costs” has the meaning specified therefor in Section 2.11(f) of this Agreement.

 

“Letter of Credit
Related Person” has the meaning specified therefor in Section 2.11(f) of this Agreement.

 

“Letter-of-Credit
Right” has the meaning set forth in Article 9 of the Code.

 

“Letter of Credit
Sublimit” means $7,500,000.

 

“Letter of Credit
Usage” means, as of any date of determination, the sum of (a) US Letter of Credit Usage as of such date plus (b)
UK Letter of Credit Usage as of such date.

 

“LIBOR Deadline”
has the meaning specified therefor in Section 2.12(b)(i) of this Agreement.

 

“LIBOR Notice”
means a written notice in the form of Exhibit L-1 to the Agreement.

 

“LIBOR Option”
has the meaning specified therefor in Section 2.12(a) of this Agreement.

 

“LIBOR Rate”
means the rate per annum as published by ICE Benchmark Administration Limited (or any successor page or other commercially available
source as Agent may designate from time to time) as of 11:00 a.m., London time, (i) in respect of Revolving Loans to the US Borrowers,
two (2) Business Days prior to the commencement of the requested Interest Period, for a term, and in an amount, comparable to the
Interest Period and the amount of the LIBOR Rate Loan requested (whether as an initial LIBOR Rate Loan or as a continuation of
a LIBOR Rate Loan or as a conversion of a Base Rate Loan to a LIBOR Rate Loan) by US Borrowers or (ii) in respect of Revolving
Loans to the UK Borrowers, the 30 day rate for the relevant currency on each day, and if such day is not a Business Day, on the
immediately preceding Business Day, in each case in accordance with this Agreement (and, if any such published rate is below zero,
then the “LIBOR Rate” shall be deemed to be zero). Each determination of the LIBOR Rate shall be made by Agent and
shall be conclusive in the absence of manifest error.

 

“LIBOR Rate
Loan” means each portion of a Revolving Loan that bears interest at a rate determined by reference to the LIBOR Rate.

 

“LIBOR Rate
Margin” has the meaning set forth in the definition of Applicable Margin.

 

“Lien”
means any mortgage, deed of trust, pledge, hypothecation, assignment, charge, deposit arrangement, encumbrance, easement, lien
(statutory or other), security interest, or other security arrangement and any other preference, priority, or preferential arrangement
of any kind or nature whatsoever, including any conditional sale contract or other title retention agreement, the interest of a
lessor under a Capital Lease and any synthetic or other financing lease having substantially the same economic effect as any of
the foregoing.

 

“Limitation
Acts” means the Limitation Act 1980 and the Foreign Limitation Act 1984.

 

    	 	-41-	 

     

    

 

“Limited Condition
Transaction” means any Permitted Acquisition or similar Investment whose consummation is not conditioned on the availability
of, or on obtaining, third party financing, in each case which is designated as a Limited Condition Transaction by the Administrative
Borrower in writing to Agent.

 

“Line Cap”
means, as of any date of determination, the lesser of (1) the Maximum Revolver Amount, and (2) the Aggregate Borrowing Base as
of such date of determination.

 

“Loan”
shall mean any Revolving Loan, Swing Loan or Extraordinary Advance made (or to be made) hereunder.

 

“Loan Account”
means the US Loan Account or the UK Loan Account, as the context requires.

 

“Loan Documents”
means the Agreement, the Controlled Account Agreements, each Copyright Security Agreement, any Borrowing Base Certificate, the
Fee Letter, the US Guaranty and Security Agreement, the UK Security Documents, the US Security Documents, the Intercompany Subordination
Agreement, any Issuer Documents, the Letters of Credit, each Patent Security Agreement, each Trademark Security Agreement, the
Intercreditor Agreement, the Rolling Stock Custodian Agreements, each Joinder Agreements, any note or notes executed by Borrowers
in connection with the Agreement and payable to any member of the Lender Group, and any other instrument or agreement entered into,
now or in the future, by Holdings or any of its Subsidiaries and any member of the Lender Group in connection with the Agreement.

 

“Loan Management
Service” means Agent’s proprietary automated loan management program currently known as “Loan Manager”
and any successor service or product of Lender which performs similar services.

 

“Loan Party”
means any US Loan Party or any UK Loan Party, as the context requires.

 

“Management
Equityholders” means the officers, directors, managers, employees and members of management of the Target and its subsidiaries
(i) who have entered into rollover agreements, dated as of September 7, 2018, with Holdings and Buyer, as applicable or (ii) who
are identified by Holdings and Buyer as “Management Equityholders” pursuant to the applicable rollover documentation
by written notice to the Agent delivered at least two (2) Business Days prior to the Closing Date.

 

“Margin Stock”
has the meaning assigned to such term in Regulation U.

 

“Material Adverse
Effect” means (a) on the Closing Date, a “Material Adverse Effect” (as defined in the Concrete Pumping Acquisition
Agreement) and (b) at any time thereafter, a material adverse effect on (i) the business, financial condition or results of operations,
in each case, of the Borrowers and their Restricted Subsidiaries (taken as a whole), (ii) the ability of the Borrowers and the
Guarantors (taken as a whole) to perform their payment obligations under this Agreement and the other Loan Documents or (iii) the
rights and remedies, taken as a whole, of Agent and the Lenders under this Agreement and the other Loan Documents.

 

“Material Debt
Instrument” means any physical instrument evidencing any Indebtedness for borrowed money which is required to be pledged
and delivered to Agent (or its bailee) pursuant to the US Guaranty and Security Agreement.

 

    	 	-42-	 

     

    

 

“Maturity Date”
means December 6, 2023; provided, however, that, if such date is not a Business Day, the Maturity Date shall be the
immediately preceding Business Day.

 

“Maximum Revolver
Amount” means $60,000,000, as may be decreased by the amount of reductions in the Revolver Commitments made in accordance
with Section 2.4(c) of this Agreement and as may be increased by any Incremental Revolving Commitments made in accordance
with Section 2.16 of this Agreement.

 

“Merger”
has the meaning assigned in the Recitals hereto.

 

“Minimum Equity
Contribution Percentage” has the meaning specified therefor in the Recitals to this Agreement.

 

“MNPI”
means material information concerning Holdings, any Subsidiary of Holdings or their securities that has not been disseminated in
a manner making it available to investors generally, within the meaning of Regulation FD under the Securities Act and the Exchange
Act. For purposes of this definition, “material information” means information concerning Holdings, any Subsidiary
of Holdings, or any of their securities, that is material for purposes of the United States federal and state securities laws.

 

“Moody’s”
has the meaning specified therefor in the definition of Cash Equivalents.

 

“Multiemployer
Plan” means any employee benefit plan which is a “multiemployer plan” as defined in Section 3(37) of ERISA,
that is subject to the provisions of Title IV of ERISA, and in respect of which any Borrower or any of its Restricted Subsidiaries
or any of their respective ERISA Affiliates, sponsors, maintains or contributes to or has an obligation to contribute to, or with
respect to which any of them has any liability, contingent or otherwise.

 

“Narrative Report”
means, with respect to the financial statements in respect of which it is delivered, a customary narrative report describing the
operations of Holdings, Intermediate Holdings, CP Holdings LLC, any Borrower and its Restricted Subsidiaries for the relevant Fiscal
Quarter or Fiscal Year and for the period from the beginning of the then-current Fiscal Year to the end of the period to which
the relevant financial statements relate.

 

“Net Proceeds”
means (a) with respect to any Disposition, the cash proceeds (including Cash Equivalents and cash proceeds subsequently received
(as and when received) in respect of non-cash consideration initially received) received by any Borrower or any Restricted Subsidiary,
net of (i) selling costs and out-of-pocket expenses (including reasonable broker’s fees or commissions, legal fees,
transfer and similar Taxes and the Borrower’s good faith estimate of income Taxes paid or payable (including pursuant to
Tax sharing arrangements) in connection with such Disposition), (ii) amounts provided as a reserve in accordance with GAAP
against any liabilities under any indemnification obligation or purchase price adjustment associated with such Disposition (provided
that to the extent and at the time any such amounts are released from such reserve, such amounts shall constitute Net Proceeds),
(iii) the principal amount, premium or penalty, if any, interest and other amounts on any Indebtedness (other than the Loans,
Indebtedness under the Term Loan Facility Agreement and any other Indebtedness secured by a Lien that is pari passu or expressly
subordinated to the Lien on the Collateral securing the Secured Obligations) which is secured by the asset sold in such Disposition
and which is required to be repaid or otherwise comes due or would be in default and is repaid (other than any such Indebtedness
that is assumed by the purchaser of such asset) and (iv) cash escrows (until released from escrow to any Borrower or any of
its Restricted Subsidiaries) from the sale price for such Disposition; and (b) with respect to any issuance or incurrence
of Indebtedness or Capital Stock, the cash proceeds thereof, net of all Taxes and customary fees, commissions, costs, underwriting
discounts and other fees and expenses incurred in connection therewith, in each case, less any withholding Taxes payable upon the
distribution of such amounts to the Borrowers or any of their Restricted Subsidiaries.

 

    	 	-43-	 

     

    

 

“New Lender”
has the meaning specified therefor in Section 16.5(e) of this Agreement.

 

“NOLV”
means, as to Eligible Rolling Stock Collateral or Eligible Inventory of Borrowers, at any time, the value of such Eligible Rolling
Stock Collateral or Eligible Inventory determined on an orderly liquidation basis, reduced by commissions, fees, costs and expenses
reasonably contemplated in connection with the liquidation thereof, as set forth in the most recent appraisal thereof delivered
to Agent in form and substance satisfactory to Agent.

 

“Non-Consenting
Lender” has the meaning specified therefor in Section 14.2(a) of this Agreement.

 

“Non-Defaulting
Lender” means each Lender other than a Defaulting Lender.

 

“Non-Loan Party
Cap” means, with respect to any Indebtedness, as of any date of determination and after giving pro forma effect thereto
and the use of proceeds thereof, an amount for all such Indebtedness incurred on or prior to such date of determination equal to
$10,000,000.

 

“Non-Loan Party
Investment Cap” means, with respect to any Investment, as of any date of determination and after giving pro forma effect
thereto, an amount for all such Investments incurred on or prior to such date of determination equal to the greater of $20,000,000
and twenty-five percent (25%) of Consolidated Adjusted EBITDA for the most recently ended Test Period.

 

“Non-Loan Party
Indebtedness” means Indebtedness incurred by Restricted Subsidiaries that are not Loan Parties pursuant to 6.1(i),
6.1(k) and the proviso to 6.1(p).

 

“Non-Management
Equityholders” means the individuals who are (i) identified on Exhibit A to the Rollover Agreement, dated as of September
7, 2018, among the rollover holders party thereto, Holdings and Buyer, (ii) identified by Holdings and Buyer as “Non-Management
Equityholders” pursuant to the applicable rollover documentation by written notice to the Administrative Agent delivered
at least two (2) Business Days prior to the Closing Date, and (iii) identified on Schedule I (the “Vendors”) to the
UK Share Purchase Agreement, dated as of September 7, 2018, among the Vendors, Lux Concrete Holdings II S.A R.L. and Holdings.

 

“Nuveen” has the meaning
assigned in the Recitals hereto.

 

“Obligations”
means the US Obligations and the UK Obligations, as the context requires.

 

“OFAC”
means The Office of Foreign Assets Control of the US Department of the Treasury.

 

“Originating
Lender” has the meaning specified therefor in Section 13.1(e) of this Agreement.

 

“Other Taxes”
means all present or future stamp, court, excise, value added or documentary, intangible, recording, filing or similar Taxes that
arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt
or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are imposed
as a result of a present or former connection between such Recipient and the jurisdiction imposing such Tax (other than connections
arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under,
received or perfected a security interest under, engaged in any other transaction pursuant or enforced any Loan Document or sold
or assigned an interest in any Loan or Loan Document) imposed with respect to an assignment (other than an assignment made pursuant
to Section 2.11).

 

    	 	-44-	 

     

    

 

“Overadvance”
means, as of any date of determination, that the Revolver Usage is greater than any of the limitations set forth in Section
2.1 or Section 2.11.

 

“Parent Company”
means (a) Holdings, and (b) any other Person of which the Target is an indirect Wholly-Owned Subsidiary.

 

“Participant”
has the meaning specified therefor in Section 13.1(e) of this Agreement.

 

“Participant
Register” has the meaning set forth in Section 13.1(i) of this Agreement.

 

“Patent Security
Agreement” has the meaning specified therefor in the US Guaranty and Security Agreement.

 

“Patriot Act”
has the meaning specified therefor in Section 4.19 of this Agreement.

 

“Payment Conditions”
means, at the time of determination with respect to any Specified Transaction, that:

 

(a)          no
Event of Default then exists or would arise as a result of the consummation of such Specified Transaction,

 

(b)          Excess
Availability (i) at all times during the 30 consecutive days immediately preceding the date of consummation of such Specified Transaction,
calculated on a pro forma basis as if such Specified Transaction was consummated and the borrowing of any Loans or issuance
of any Letters of Credit, if any, in connection therewith had taken place, on the first day of such period, and (ii) after giving
effect to such Specified Transaction (and such borrowings or issuances hereunder, if any), is not less than (A) in the case of
a Specified Transaction consisting of Permitted Investments or a Restricted Debt Payment, the greater of (1) $7,250,000 and (2)
15.0% of the Line Cap, and (B) in the case of a Specified Transaction consisting of a Restricted Payment, the greater of (1) $8,500,000
and (2) 17.5% of the Line Cap,

 

(c)          the
Fixed Charge Coverage Ratio of Holdings and its Restricted Subsidiaries is equal to or greater than 1.00:1.00 for the trailing
12-month period most recently ended for which financial statements are required to have been delivered to Agent pursuant to this
Agreement (calculated on a pro forma basis as if such Specified Transaction was consummated on the last day of such 12-month period
(it being understood that such Specified Transaction shall also be deemed consummated on the last day of such 12-month period for
purposes of calculating the Fixed Charge Coverage Ratio under this clause (c) for any subsequent Specified Transaction),
and taking into account the full amount of any Restricted Payments whether or not such Restricted Payments would be included in
the calculation of Fixed Charges pursuant to the definition thereof), provided that (A) if at no time during the 30-consecutive
day period immediately preceding such Specified Transaction was Excess Availability less than, with respect to Permitted Investments
and Restricted Debt Payments, the greater of (x) $8,500,000 and (y) 17.5% of the Line Cap and (B) with respect to Restricted Payments,
the greater of (i) $10,000,000 and (ii) 20% of the Line Cap (in each case, calculated on a pro forma basis to include the
borrowing of any Loans or issuance of any Letters of Credit in connection with the Specified Transaction), then this clause
(c) shall not apply, and

 

    	 	-45-	 

     

    

 

(d)          Administrative
Borrower has delivered a customary officer’s certificate to Agent certifying as to compliance with the requirements of clauses
(a) through (c) (if applicable).

 

“PBGC”
means the Pension Benefit Guaranty Corporation or any successor agency.

 

“Pension Plan”
means any employee pension benefit plan, as defined in Section 3(2) of ERISA (other than a Multiemployer Plan), which is subject
to the provisions of Title IV of ERISA or Sections 412 or 430 of the IRC or Sections 302 or 303 of ERISA and which any Borrower
or any of its Restricted Subsidiaries, or any of their respective ERISA Affiliates, sponsors, maintains or contributes to or has
an obligation to contribute to, or with respect to which any of them has any liability, contingent or otherwise.

 

“Pensions Regulator”
means the body corporate called the Pensions Regulator established under Part I of the Pensions Act 2004 (UK).

 

“Perfection
Certificate” means a certificate in the form of Exhibit P-1 to the Agreement.

 

“Perfection
Requirements” means the filing of appropriate financing statements with the office of the Secretary of State or other
appropriate office of the state of organization of each Loan Party, the filing of appropriate grants, assignments, notices or Intellectual
Property Security Agreements with the U.S. Patent and Trademark Office and the U.S. Copyright Office, the proper recording or filing,
as applicable, of Mortgages and fixture filings with respect to any Material Real Property constituting Collateral and any notations
on certificates of title, in each case in favor of the Administrative Agent for the benefit of the Secured Parties and the delivery
to the Agent of any stock certificate or promissory note required to be delivered pursuant to the applicable Loan Documents, together
with instruments of transfer executed in blank.

 

“Permitted Acquisition”
means any acquisition made by Holdings or any of its Restricted Subsidiaries, whether by purchase, merger or otherwise, of all
or substantially all of the assets of, or any business line, unit or division of, any Person or of all of the outstanding Capital
Stock of any Person who is engaged in a Similar Business and becomes a Restricted Subsidiary; provided that the total consideration
paid by Persons that are Loan Parties (a) for the Capital Stock of any Person that does not become a Loan Party or is not a Loan
Party, and (b) in the case of an asset acquisition, assets that are not acquired by any Loan Party, when taken together with the
total consideration for all such Persons and assets so acquired after the Closing Date and all Investments made since the Closing
Date pursuant to ‎Section 6.6(b)(iii), shall not exceed the sum of (i) the Non-Loan Party Investment Cap and (ii) amounts
otherwise available under ‎Section 6.6 to be invested in non-Loan Parties (it being understood that amounts utilized
under this clause (ii) shall be deemed a utilization of the applicable basket or exception in ‎Section 6.6);
provided that (A) the limitation described in this proviso shall not apply to any acquisition to the extent (1) any such
consideration is financed with the proceeds of sales of the Qualified Capital Stock of, or common equity capital contributions
to, Holdings or any Restricted Subsidiary (but only to the extent not otherwise applied to increase the Available Amount or Available
Excluded Contribution Amount, or to make Restricted Payments or Restricted Debt Payments hereunder), or (2) the Person so acquired
(or the Person owning the assets so acquired) becomes a Subsidiary Guarantor within the time periods required by Section 5.12
even though such Person owns Capital Stock in Persons that are not otherwise required to become Subsidiary Guarantors, if, in the
case of this clause (2), at least 70.0% of the Consolidated Adjusted EBITDA of the Person(s) acquired in such acquisition
(or the Persons owning the assets so acquired) (for this purpose and for the component definitions used in the definition of “Consolidated
Adjusted EBITDA”, determined on a consolidated basis for such Person(s) and their respective Restricted Subsidiaries) is
generated by Person(s) that will become Subsidiary Guarantors within the time periods required by Section 5.12 (i.e., disregarding
any Consolidated Adjusted EBITDA generated by Restricted Subsidiaries of such Persons that are not (or will not become) Subsidiary
Guarantors), and (B) in the event that the amount available under the Non-Loan Party Investment Cap is reduced as a result of any
acquisition of any Restricted Subsidiary that does not become a Loan Party or any assets that are not transferred to a Loan Party
and such Restricted Subsidiary subsequently becomes a Loan Party or such assets are subsequently transferred to a Loan Party, as
the case may be, the amount available under the Non-Loan Party Investment Cap shall be proportionately increased as a result thereof
based upon the amount of the Non-Loan Party Investment Cap utilized with respect to the acquisition of such Person or assets, as
the case may be; provided further that no Event of Default then exists or would result after giving pro forma effect to
such acquisition, provided, further, that if such purchase or other acquisition is a Limited Condition Transaction,
and the Borrowers make an LCT Election with respect to such Limited Condition Transaction, the foregoing condition shall be tested
as of the LCT Test Date, so long as upon consummation of such acquisition, no Event of Default under ‎Section 8.1(a),
‎8.1(f) (solely with respect to Borrowers) or ‎8.1(g) (solely with respect to Borrowers) shall exist.

 

    	 	-46-	 

     

    

 

“Permitted Discretion”
means a determination made in good faith in the exercise of reasonable business judgment based on how a secured asset-based lender
with similar rights providing a credit facility of the type set forth in this Agreement would act in similar circumstances at the
time with the information then available to it.

 

“Permitted Holders”
means, collectively, (i) the Sponsor, (ii) Nuveen Alternatives Advisors, LLC, BBCP Investors, LLC, Lead Common Investor, Institutional
Investors, and their respective Fund Affiliates; and (iii) the Non-Management Equityholders and the Management Equityholders (or,
in each case, within sixty (60) days after their death or incapacity, one or more successors acceptable to the Agent).

 

“Permitted Investments”
means Investments permitted pursuant to Section 6.6.

 

“Permitted Liens”
means Liens permitted pursuant to Section 6.2.

 

“Person”
means natural persons, corporations, limited liability companies, limited partnerships, general partnerships, limited liability
partnerships, joint ventures, trusts, land trusts, business trusts, or other organizations, irrespective of whether they are legal
entities, and governments and agencies and political subdivisions thereof.

 

“Plan”
means an “employee benefit plan” as defined in Section 3(3) of ERISA (regardless of whether such plan is subject
to ERISA) that Holdings or any of its Restricted Subsidiaries sponsors, maintains or contributes to or has an obligation to contribute
to, or otherwise has liability, contingent or otherwise.

 

“Platform”
has the meaning specified therefor in Section 5.1(m) of this Agreement.

 

“Premier Concrete”
has the meaning assigned in the Preamble hereto.

 

“Process Agent”
has the meaning specified therefor in Section 17.19 of this Agreement.

 

“Pro Forma Basis”
has the meaning set out in the Term Loan Facility Agreement (as in effect on the Closing Date).

 

“Pro Rata Share”
means, as of any date of determination:

 

    	 	-47-	 

     

    

 

(a)          with
respect to a Lender’s obligation to make all or a portion of the US Revolving Loans, with respect to such Lender’s
right to receive payments of interest, fees, and principal with respect to the US Revolving Loans, and with respect to all other
computations and other matters related to the US Revolver Commitments or the US Revolving Loans, the percentage obtained by dividing
(i) the US Revolving Loan Exposure of such Lender by (ii) the aggregate US Revolving Loan Exposure of all Lenders,

 

(b)          with
respect to a Lender’s obligation to participate in the Letters of Credit, with respect to such Lender’s obligation
to reimburse Issuing Bank, and with respect to such Lender’s right to receive payments of Letter of Credit Fees, and with
respect to all other computations and other matters related to the Letters of Credit, the percentage obtained by dividing
(i) the US Revolving Loan Exposure of such Lender by (ii) the aggregate US Revolving Loan Exposure of all Lenders; provided,
that if all of the US Revolving Loans have been repaid in full and all US Revolver Commitments have been terminated, but Letters
of Credit remain outstanding, Pro Rata Share under this clause shall be determined as if the US Revolver Commitments had not been
terminated and based upon the US Revolver Commitments as they existed immediately prior to their termination,

 

(c)          with
respect to a Lender’s obligation to make all or a portion of the UK Revolving Loans, with respect to such Lender’s
right to receive payments of interest, fees, and principal with respect to the UK Revolving Loans, and with respect to all other
computations and other matters related to the UK Revolver Commitments or the UK Revolving Loans, the percentage obtained by dividing
(i) the UK Revolving Loan Exposure of such Lender by (ii) the aggregate UK Revolving Loan Exposure of all Lenders, and

 

(d)          with
respect to all other matters and for all other matters as to a particular Lender (including the indemnification obligations arising
under Section 15.7 of this Agreement), the percentage obtained by dividing (i) the Revolving Loan Exposure of such
Lender, by (ii) the aggregate Revolving Loan Exposure of all Lenders, in any such case as the applicable percentage may be adjusted
by assignments permitted pursuant to Section 13.1 of this Agreement; provided, that if all of the Loans have been
repaid in full, all Letters of Credit have been made the subject of Letter of Credit Collateralization, and all Commitments have
been terminated, Pro Rata Share under this clause shall be determined as if the Revolving Loan Exposures had not been repaid, collateralized,
or terminated and shall be based upon the Revolving Loan Exposures as they existed immediately prior to their repayment, collateralization,
or termination.

 

“Projections”
means the financial projections and pro forma financial statements of the Borrowers and their subsidiaries included in the Information
Memorandum (or a supplement thereto).

 

“Protective
Advances” has the meaning specified therefor in Section 2.3(d)(i).

 

“Public Lender”
has the meaning specified therefor in Section 17.9(c) of this Agreement.

 

“Qualified Capital
Stock” of any Person means any Capital Stock of such Person that is not Disqualified Capital Stock.

 

“Qualified Equity
Interest” means and refers to any Equity Interests issued by Holdings (and not by one or more of its Subsidiaries) that
is not a Disqualified Equity Interest.

 

“Qualifying
Lender” means for the purposes of Section 16.5 of this Agreement a Lender which is beneficially entitled to interest
payable to that Lender in respect of an advance under a Loan Document and is:

 

    	 	-48-	 

     

    

 

		(a)	a Lender:

 

		(i)	which is a bank (as defined for the purpose of section 879 of the UK ITA) making an advance under
a Loan Document and is within the charge to United Kingdom corporation tax as respects any payments of interest made in respect
of that advance or would be within such charge as respects such payment apart from section 18A of the CTA; or

 

		(ii)	in respect of an advance made under a Loan Document by a person that was a bank (as defined for
the purpose of section 879 of the UK ITA) at the time that that advance was made and within the charge to United Kingdom corporation
tax as respects any payments of interest made in respect of that advance; or

 

		(b)	a Lender which is:

 

		(i)	a company resident in the United Kingdom for United Kingdom tax purposes;

 

		(ii)	a partnership, each member of which is:

 

		(A)	a company so resident in the United Kingdom for UK
tax purposes; or

 

		(B)	a company not so resident in the United Kingdom which carries on a trade in the United Kingdom
through a permanent establishment and which brings into account in computing its chargeable profits (within the meaning of Section
19 of the CTA) the whole of any share of interest payable in respect of that advance that falls to it by reason of Part 17 of the
CTA; or

 

		(iii)	a company not so resident in the United Kingdom which carries on a trade in the United Kingdom
through a permanent establishment and which brings into account interest payable in respect of that advance in computing the chargeable
profits (within the meaning of Section 19 of the CTA) of that company; or

 

		(c)	a Treaty Lender; or

 

		(d)	a building society (as defined for the purposes of
section 880 of the UK ITA).

 

“Quarterly Average
Excess Availability” means, at any time, the sum of the aggregate amount of Excess Availability for each Business Day
for the immediately preceding three-month period (calculated as of the end of each respective Business Day) divided by the
number of Business Days in such three-month period, commencing on the first Business Day of such three-month period.

 

“Quarterly Average
Revolver Usage” means, at any time, the sum of the aggregate amount of Revolver Usage for each Business Day for the immediately
preceding three-month period (calculated as of the end of each respective Business Day) divided by the number of Business
Days in such three-month period, commencing on the first Business Day of such three-month period.

 

    	 	-49-	 

     

    

 

“Real Property”
means any estates or interests in real property now owned or hereafter acquired by any Borrower or one of its Subsidiaries and
the improvements thereto.

 

“Receivable
Reserves” means, as of any date of determination, those reserves that Agent deems necessary or appropriate, in its Permitted
Discretion and subject to Section 2.1(e), to establish and maintain (including reserves for rebates, discounts, warranty
claims, and returns) with respect to the Eligible Accounts or the Maximum Revolver Amount.

 

“Recipient”
has the meaning specified therefor in Section 16.5(n)(ii) of this Agreement.

 

“Record”
means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable
in perceivable form.

 

“Reference Period”
means any period of 12 consecutive calendar months.

 

“Refinancing
Indebtedness” has the meaning set forth in Section 6.1(m) of this Agreement.

 

“Register”
has the meaning set forth in Section 13.1(h) of this Agreement.

 

“Registered
Loan” has the meaning set forth in Section 13.1(h) of this Agreement.

 

“Regulation”
has the meaning specified therefor in Section 4.20 of this Agreement.

 

“Related Agreements”
means the Concrete Pumping Acquisition Agreement (including all other documents entered into in connection therewith) and the Term
Loan Facility Agreement (including all other documents entered into in connection therewith).

 

“Related Fund”
means any Person (other than a natural person) that is engaged in making, purchasing, holding or investing in bank loans and similar
extensions of credit in the ordinary course and that is administered, advised or managed by (a) a Lender, (b) an Affiliate of a
Lender or (c) an entity or an Affiliate of an entity that administers, advises or manages a Lender.

 

“Release”
means any release, spill, emission, leaking, pumping, pouring, injection, escaping, deposit, disposal, discharge, dispersal, dumping,
leaching or migration of any Hazardous Material into the indoor or outdoor environment (including the abandonment or disposal of
any barrels, containers or other closed receptacles containing any Hazardous Material), including the movement of any Hazardous
Material through the air, soil, sediment, surface water or groundwater.

 

“Remedial Action”
means all actions taken to (a) clean up, remove, remediate, contain, treat, monitor, assess, evaluate, or in any way address Hazardous
Materials in the indoor or outdoor environment, (b) prevent or minimize a release or threatened release of Hazardous Materials
so they do not migrate or endanger or threaten to endanger public health or welfare or the indoor or outdoor environment, (c) restore
or reclaim natural resources or the environment, (d) perform any pre-remedial studies, investigations, or post-remedial operation
and maintenance activities, or (e) conduct any other actions with respect to Hazardous Materials required by Environmental Laws.

 

“Replacement
Lender” has the meaning specified therefor in Section 2.13(b) of this Agreement.

 

“Report”
has the meaning specified therefor in Section 15.16(a) of this Agreement.

 

    	 	-50-	 

     

    

 

“Required Lenders”
means, at any time, Lenders having or holding more than 50% of the sum of the aggregate Revolving Loan Exposure of all Lenders,
provided, that (i) the Revolving Loan Exposure of any Defaulting Lender shall be disregarded in the determination of the
Required Lenders, and (ii) at any time there are 2 or more Lenders, “Required Lenders” must include at least 2 Lenders
(who are not Affiliates of one another).

 

“Requirements
of Law” means, with respect to any Person, collectively, the common law and all federal, state, local, foreign, multinational
or international laws, statutes, codes, treaties, rules and regulations, guidelines, ordinances, orders, judgments, writs, injunctions,
decrees (including administrative or judicial precedents or authorities) and the interpretation or administration thereof by, and
other determinations, directives, requirements of any Governmental Authority, in each case that are applicable to or binding upon
such Person or any of its property or to which such Person or any of its property is subject.

 

“Reserves”
means, as of any date of determination, those reserves (including, without limitation, any Receivable Reserves, Bank Product Reserves,
UK Priority Payable Reserves and/or Vehicle Sales/Use Taxes Reserve, if any) that Agent deems necessary or appropriate, in its
Permitted Discretion and subject to Section 2.1(e), to establish and maintain (including reserves with respect to (a) sums
that Holdings or its Subsidiaries are required to pay under any Section of this Agreement or any other Loan Document (such as taxes,
assessments, insurance premiums, or, in the case of leased assets, rents or other amounts payable under such leases) and has failed
to pay, and (b) amounts owing by Holdings or its Subsidiaries to any Person to the extent secured by a Lien on, or trust over,
any of the Collateral (other than a Permitted Lien), which Lien or trust, in the Permitted Discretion of Agent likely would have
a priority superior to Agent’s Liens (such as Liens or trusts in favor of landlords, warehousemen, carriers, mechanics, materialmen,
laborers, or suppliers, or Liens or trusts for ad valorem, excise, sales, or other taxes where given priority under applicable
law) in and to such item of the Collateral) with respect to, without double counting, the UK Borrowing Base, the US Borrowing Base
and/or the Aggregate Borrowing Base or the Maximum Revolver Amount.

 

“Responsible
Officer” means, with respect to any Person, the chief executive officer, the president, the chief financial officer,
the treasurer, any assistant treasurer, any executive vice president, any senior vice president, any vice president or the chief
operating officer of such Person and any other individual or similar official thereof responsible for the administration of the
obligations of such Person in respect of this Agreement, and, as to any document delivered on the Closing Date, shall include any
secretary or assistant secretary or any other individual or similar official thereof with substantially equivalent responsibilities
of a Loan Party. Any document delivered hereunder that is signed by a Responsible Officer of any Loan Party shall be conclusively
presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of such Loan Party, and
such Responsible Officer shall be conclusively presumed to have acted on behalf of such Loan Party.

 

“Responsible
Officer Certification” means, with respect to the financial statements for which such certification is required, the
certification of a Responsible Officer of Holdings that such financial statements fairly present, in all material respects, in
accordance with GAAP, the consolidated financial condition of Holdings as at the dates indicated and its consolidated income and
cash flows for the periods indicated, subject to changes resulting from audit and normal year-end adjustments.

 

“Restricted
Debt” has the meaning specified therefor in Section 6.4(b) of this Agreement.

 

“Restricted
Debt Payment” has the meaning specified therefor in Section 6.4(b) of this Agreement.

 

    	 	-51-	 

     

    

 

“Restricted
Payment” means (a) any dividend or other distribution on account of any shares of any class of the Equity Interests
of the Target, except a dividend payable solely in shares of Qualified Equity Interests to the holders of such class; (b) any
redemption, retirement, sinking fund or similar payment, purchase or other acquisition for value of any shares of any class of
the Equity Interests of Holdings and (c) any payment made to retire, or to obtain the surrender of, any outstanding warrants,
options or other rights to acquire shares of any class of the Equity Interests of Holdings now or hereafter outstanding.

 

“Restricted
Subsidiary” means, as to any Person, any subsidiary of such Person that is not an Unrestricted Subsidiary. Unless otherwise
specified, “Restricted Subsidiary” shall mean Holdings and the Borrowers and any Restricted Subsidiary of such Person.

 

“Retained Excess
Cash Flow Amount” means, at any date of determination, an amount, not less than zero and determined on a cumulative basis,
that is equal to the aggregate cumulative sum of Excess Cash Flow (as defined in the Term Loan Facility Agreement) that is not
required to be applied as a mandatory prepayment under Section 2.08(b)(i) of the Term Loan Facility Agreement (without giving
effect to clause (B)(1) or (B)(2) thereof or to Section 2.08(b)(iv) of the Term Loan Facility Agreement, but giving effect
to the proviso at the end of Section 2.08(b)(i) of the Term Loan Facility Agreement) for all Excess Cash Flow Periods (as
defined in the Term Loan Facility Agreement) ending after the Closing Date and prior to such date of determination.

 

“Revaluation
Date” means (a) with respect to any Loan denominated in GBP, each of the following: (i) each date of a Borrowing of such
Loan, and (ii) such additional dates as Agent shall reasonably determine or the Required Lenders shall reasonably require, in each
case, taking into account any reasonable request by a UK Borrower, and (b) with respect to any other Obligations denominated in
GBP, each date as Agent shall reasonably determine (taking into account any reasonable request by a UK Borrower) unless otherwise
prescribed in this Agreement or any other Loan Documents.

 

“Revolver Commitments”
means a US Revolver Commitment or a UK Revolver Commitment, as the context requires.

 

“Revolver Usage”
means the US Revolver Usage or the UK Revolver Usage, as the context requires.

 

“Revolving Lender”
means a Lender that has a Revolving Loan Exposure or Letter of Credit Exposure.

 

“Revolving Loan
Exposure” means the US Revolving Loan Exposure or the UK Revolving Loan Exposure, as the context requires.

 

“Revolving Loans”
means UK Revolving Loans or US Revolving Loans, as the context requires.

 

“Rolling Equity”
has the meaning specified therefor in the Recitals of this Agreement.

 

“Rolling Investors”
has the meaning specified therefor in the Recitals of this Agreement.

 

“Rolling Stock”
means all of the Loan Parties’ trucks (including, without limitation, all boom pump trucks, telebelt trucks, flatbed trucks
and truck mounted pumps), and any and all other vehicles used in any Loan Party’s business, along with any mobile Equipment
and/or UK Equipment related to or used in connection with the foregoing, in each case wherever located.

 

    	 	-52-	 

     

    

 

“Rolling Stock
Collateral” means all Rolling Stock constituting Collateral.

 

“Rolling Stock
Collateral Administrator” means Corporation Service Company, and its successors and assigns, together with any substitute
or supplemental collateral custodian acceptable to Agent.

 

“Rolling Stock
Custodian Agreements” means, collectively, the following: (a) any collateral administration agreement by and among, inter
alia, the US Loan Parties, the Rolling Stock Collateral Administrator, the Agent, and the Term Loan Agent, and (b) all of the
other agreements, documents and instruments now or at any time hereafter executed and/or delivered in connection therewith or related
thereto, in each case in form and substance satisfactory to Agent, in each case, as the same may be amended, restated, supplement
or otherwise modified from time to time.

 

“Rollover Equity”
has the meaning specified therefor in the Recitals of this Agreement.

 

“Sale and Lease-Back
Transaction” means any transaction under which any Borrower or any of its Restricted Subsidiaries shall, directly or
indirectly, become or remain liable as lessee or as a guarantor or other surety with respect to any lease of any property (whether
real, personal or mixed), whether now owned or hereafter acquired, which such Borrower or the relevant Restricted Subsidiary (a) is
to sell or to transfer to any other Person (other than any Borrower or any of its Restricted Subsidiaries) and (b) intends
to use for substantially the same purpose as the property which has been or is to be sold or transferred by such Borrower or such
Restricted Subsidiary to any Person (other than such Borrower or any of its Restricted Subsidiaries) in connection with such lease.

 

“Sanctioned
Entity” means (a) a country or territory or a government of a country or territory, (b) an agency of the government of
a country or territory, (c) an organization directly or indirectly controlled by a country or territory or its government, or (d)
a Person resident in or determined to be resident in a country or territory, in each case of clauses (a) through (d)
that is a target of Sanctions, including a target of any country sanctions program administered and enforced by OFAC.

 

“Sanctioned
Person” means, at any time (a) (i) any Person named on the list of Specially Designated Nationals and Blocked Persons
maintained by OFAC, OFAC’s consolidated Non-SDN list each administered and enforced by OFAC; (ii) the “Financial Sanctions:
Consolidated List of Targets” and “Ukraine: list of persons subject to restrictive measures in view of Russia’s
actions destabilizing the situation in Ukraine” administered and enforced by HMT, in each case as amended, supplemented or
substituted from time to time; or (iii) or any other Sanctions-related list maintained by any Governmental Authority, (b) a Person
or legal entity that is a target of Sanctions, (c) any Person operating, organized or resident in a Sanctioned Entity, or (d) any
Person directly or indirectly owned or controlled (individually or in the aggregate) by or acting on behalf of any such Person
or Persons described in clauses (a) through (c) above.

 

“Sanctions”
means the economic, financial, trade, sectoral, secondary, trade embargoes anti-terrorism laws or other sanctions laws, regulations
or embargoes, administered and enforced from time to time by any Sanctions Authority.

 

“Sanctions Authority”
means: (a) the United Nations Security Council; (b) the European Union or any European Member State; or (c) the governmental institutions
and agencies of the United States of America, including, without limitation, the Office of Foreign Assets Control of the United
States Department of Treasury (OFAC), the US Department of State, the US Department of Commerce, or through any existing or future
executive order or the governmental institutions and agencies of the United Kingdom, including, without limitation, Her Majesty’s
Treasury (HMT) or any other Governmental Authority with jurisdiction over any member of Lender Group or any Loan Party or any of
their respective Subsidiaries or Affiliates.

 

    	 	-53-	 

     

    

 

“S&P”
has the meaning specified therefor in the definition of Cash Equivalents.

 

“Scheduled Unavailability
Date” has the meaning specified therefor in Section 15.18(a) of this Agreement.

 

“SEC”
means the United States Securities and Exchange Commission and any successor thereto.

 

“Secured Party”
has the meaning specified therefor in Section 15.18(a) of this Agreement.

 

“Securities
Account” means a securities account (as that term is defined in the Code).

 

“Securities
Act” means the Securities Act of 1933, as amended from time to time, and any successor statute.

 

“Secured Leverage
Ratio” means the ratio, as of any date of determination, of (a) Consolidated Secured Debt (as defined in the Term Loan
Facility Agreement as in effect on the Closing Date) as of such date to (b) Consolidated Adjusted EBITDA for the Test Period then
most recently ended of the US Borrowers and their Restricted Subsidiaries on a consolidated basis.

 

“Security Documents”
means the UK Security Documents and/or the US Security Documents, as the context requires.

 

“Settlement”
has the meaning specified therefor in Section 2.3(e)(i) of this Agreement.

 

“Settlement
Date” has the meaning specified therefor in Section 2.3(e)(i) of this Agreement.

 

“Solvency Certificate”
means a certificate in the form of Exhibit S-1 to the Agreement.

 

“Solvent”
means, with respect to any Person as of any date of determination, that (a) the fair value of the assets of such Person’s
debts and liabilities exceeds such Person’s debts and liabilities, subordinated, contingent or otherwise, (b) the present
fair saleable value of the property of such Person is greater than the amount that will be required to pay the probable liability,
on a consolidated basis, of their debts and other liabilities, subordinated, contingent or otherwise, as such debts and other liabilities
become absolute and matured, (c) such Person is able to pay its debts and liabilities, subordinated, contingent or otherwise, as
such liabilities become absolute and matured, (d) such Person is not engaged in, and are not about to engage in, business for which
they have unreasonably small capital, and (e) such Person is “solvent” or not “insolvent”, as applicable
within the meaning given those terms and similar terms under applicable Debtor Relief Laws or other laws relating to fraudulent
transfers and conveyances. For purposes of this definition, the amount of any contingent liability at any time shall be computed
as the amount that, in light of all of the facts and circumstances existing at such time, represents the amount that can reasonably
be expected to become an actual or matured liability (irrespective of whether such contingent liabilities meet the criteria for
accrual under Statement of Financial Accounting Standard No. 5).

 

    	 	-54-	 

     

    

 

“Specified Acquisition
Agreement Representations” shall mean such of the representations made by or on behalf of Holdings, its subsidiaries
or their respective businesses in the Concrete Pumping Acquisition Agreement as are material to the interests of the Lenders, but
only to the extent that Concrete Merger Sub or any of its Affiliates have the right (giving effect to applicable cure provisions)
to terminate its obligations under the Concrete Pumping Acquisition Agreement or to decline to consummate the Concrete Pumping
Acquisition as a result of a breach of such representations in the Concrete Pumping Acquisition Agreement.

 

“Specified Event
of Default” means any Event of Default occurring pursuant to: (a) Section 8.1(a) of this Agreement; (b) Section
8.1(e) of this Agreement arising due to the failure of Holdings or its Subsidiaries to comply with Section 5.1(c) of
this Agreement (solely with respect to the failure of the Loan Parties to deliver a Compliance Certificate in accordance with the
terms thereof), (c) Section 8.1(c) of this Agreement arising due to the failure of Holdings or its Subsidiaries to comply
with (i) Section 5.2 of this Agreement (solely with respect to the failure of the Loan Parties to deliver a Borrowing Base
Certificate in accordance with the terms thereof), or (ii) Article 7 of this Agreement; (d) Section 8.1(f) of this
Agreement; (e) Section 8.1(g) of this Agreement; (f) solely with respect to any Borrowing Base Certificate, Section 8.1(d)
of this Agreement or (g) Section 7 of the US Guaranty and Security Agreement.

 

“Specified Representations”
mean the representations and warranties set forth in ‎Section 4.1(a) (as it relates to organizational existence of the
Loan Parties), ‎Section 4.2 (as it relates to corporate or organizational power or authority (in connection with the
due authorization, execution, delivery and performance of the Loan Documents) and the enforceability thereof), ‎Section
4.3(b)(i), ‎Section 4.8, ‎Section 4.12 (as it relates to the creation, validity and perfection of the
security interests in the Collateral), ‎Section 4.14, Section 4.15 (limited to the last sentence thereof solely
as it relates to the use of proceeds), ‎Section 4.16 and Section 4.19(b).

 

“Specified Transaction”
means, any Disposition, Investment (including, without limitation, any Permitted Acquisition), prepayment or incurrence of Indebtedness,
the incurrence of a Lien or the making of a Restricted Payment (or declaration of any prepayment or Restricted Payment) or Restricted
Debt Payment.

 

“Sponsor”
means Argand Partners LP and its Affiliates and its funds, partnerships or other co-investment vehicles managed, advised or controlled
by the foregoing, but not including, however, any of their respective portfolio companies.

 

“Sponsor Affiliated
Entity” means Sponsor or any of its Affiliates (other than Loan Parties or their Subsidiaries and other than operating
portfolio companies of Sponsor and its Affiliates).

 

“Sponsor Equity
Contribution” has the meaning specified therefor in the Recitals of this Agreement.

 

“Sponsor Fees”
means (i) any fee paid or payable to the Sponsor and its Affiliates pursuant to any Sponsor Management Agreement and (ii) any fee
paid or payable to the Sponsor (or any Person that is an Affiliate of, or otherwise employed by, the Sponsor) that is in respect
of the Sponsor’s (or such Person’s) service as a member of the board of directors (or similar governing body) of Holdings,
Intermediate Holdings, CP Holdings LLC, any Borrower or any of its Restricted Subsidiaries; provided that (a) the aggregate
amount of all such fees payable pursuant to the foregoing clauses (i) and (ii) in any fiscal year shall not exceed $1,000,000,
plus the amount of any such fees that have accrued but were not permitted to be paid under Section 6.8(o) due to
the occurrence and continuance of an Event of Default, and (b) Sponsor Fees shall not include any amounts attributable to the payment
or reimbursement of reasonable out-of-pocket costs to, and indemnities provided on behalf of, the Sponsor or such Person either
(x) in connection with management, monitoring, consulting and advisory services provided by them to Holdings, Intermediate Holdings,
CP Holdings LLC, any Borrower or any of its Restricted Subsidiaries or (y) serving in its, his or her capacity as a member of the
Board of Directors (or similar governing body) of Holdings, Intermediate Holdings, CP Holdings LLC, any Borrower or any of its
Restricted Subsidiaries.

 

    	 	-55-	 

     

    

 

“Sponsor Management
Agreement” means any management, monitoring, consulting or advisory services agreement entered into from time to time
between the Sponsor and/or its Affiliates and Parent, Intermediate Parent, the Borrowers or any of their Restricted Subsidiaries,
in each case in form and substance reasonably satisfactory to the Agent, and without giving effect to any amendments, modifications
or supplements thereto unless such amendments, modifications or supplements are in form and substance reasonably satisfactory to
the Agent.

 

“Spot Rate”
means, for a currency, the rate determined by Agent to be the rate quoted by Wells Fargo as the spot rate for the purchase by Wells
Fargo of such currency with another currency through its principal foreign exchange trading office at approximately 1:00 p.m. on
the date 2 Business Days prior to the date as of which the foreign exchange computation is made; provided, that Agent may
obtain such spot rate from another financial institution designated by Agent if Wells Fargo acting in such capacity does not have
as of the date of determination a spot buying rate for any such currency.

 

“Standard Letter
of Credit Practice” means, for Issuing Bank, any domestic or foreign law or letter of credit practices applicable in
the city in which Issuing Bank issued the applicable Letter of Credit or, for its branch or correspondent, such laws and practices
applicable in the city in which it has advised, confirmed or negotiated such Letter of Credit, as the case may be, in each case,
(a) which letter of credit practices are of banks that regularly issue letters of credit in the particular city, and (b) which
laws or letter of credit practices are required or permitted under ISP or UCP, as chosen in the applicable Letter of Credit.

 

“Subject Party”
has the meaning specified therefor in Section 16.5(h)(ii) of this Agreement.

 

“Subsidiary”
of a Person means a corporation, partnership, limited liability company, or other entity in which that Person directly or indirectly
owns or controls the Equity Interests having ordinary voting power to elect a majority of the Board of Directors of such corporation,
partnership, limited liability company, or other entity.

 

“Successor Borrower”
has the meaning specified therefor in Section 6.7(a) of this Agreement.

 

“Successor Buyer”
has the meaning specified therefor in Section 6.11(d) of this Agreement.

 

“Successor Holdings”
has the meaning specified therefor in Section 6.11(d) of this Agreement.

 

“Successor Intermediate
Holdings” has the meaning specified therefor in Section 6.11(d) of this Agreement.

 

“Supermajority
Lenders” means, at any time, Lenders having or holding more than 66 2/3% of the aggregate Revolving Loan Exposure of
all Lenders; provided, that (i) the Revolving Loan Exposure of any Defaulting Lender shall be disregarded in the determination
of the Supermajority Lenders, and (ii) at any time there are two or more Lenders (who are not Affiliates of one another), “Supermajority
Lenders” must include at least two Lenders (who are not Affiliates of one another or Defaulting Lenders).

 

    	 	-56-	 

     

    

 

“Swap Obligation”
means, with respect to any Loan Party, any obligation to pay or perform under any agreement, contract or transaction that constitutes
a “swap” within the meaning of section 1a(47) of the Commodity Exchange Act.

 

“Swing Lender”
means Wells Fargo or any other Lender that, at the request of Borrowers and with the consent of Agent agrees, in such Lender’s
sole discretion, to become the Swing Lender under Section 2.3(b) of this Agreement.

 

“Swing Loan”
has the meaning specified therefor in Section 2.3(b) of this Agreement.

 

“Swing Loan
Exposure” means, as of any date of determination with respect to any Lender, such Lender’s Pro Rata Share of the
Swing Loans on such date.

 

“Target”
has the meaning assigned in the Preamble to the Agreement.

 

“Target Refinancing”
has the meaning assigned in Schedule 3.1 attached to the Agreement.

 

“Tax Confirmation”
means for the purposes Section 16.5 of this Agreement, a confirmation by a Lender that the person beneficially entitled
to interest payable to that Lender in respect of an advance under a Loan Document is either:

 

(i)          a
company resident in the United Kingdom for United Kingdom tax purposes;

 

(ii)         a
partnership each member of which is:

 

(1)         a
company so resident in the United Kingdom; or

 

(2)         a
company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment
and which brings into account in computing its chargeable profits (within the meaning of section 19 of the CTA) the whole of any
share of interest payable in respect of that advance that falls to it by reason of Part 17 of the CTA; or

 

(iii)        a
company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment
and which brings into account interest payable in respect of that advance in computing the chargeable profits (within the meaning
of section 19 of the CTA) of that company.

 

“Tax Credit”
means for the purposes of this Agreement, a credit against, relief or remission for, or repayment of, any Taxes.

 

“Tax Deduction”
means for the purposes Section 16.5 of this Agreement, a deduction or withholding for or on account of Taxes from a payment under
a Loan Document, other than a deduction or withholding from a payment under a Loan Document required by FATCA.

 

“Tax Indemnitee”
has the meaning specified therefor in Section 16.1 of this Agreement.

 

    	 	-57-	 

     

    

 

“Tax Payment”
means for the purposes Section 16.5 of this Agreement, either the increase in a payment made by a UK Borrower to a Lender
under Section 16.5(b) of this Agreement or a payment under Section 16.5(c) of this Agreement.

 

“Taxes”
means any taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), fees, assessments or other charges
of whatever nature now or hereafter imposed by any jurisdiction or by any political subdivision or taxing authority thereof or
therein, and all interest, additions, penalties or similar liabilities with respect thereto.

 

“Tax Lender”
has the meaning specified therefor in Section 14.2(a) of this Agreement.

 

“Term Agent”
shall mean Credit Suisse AG, Cayman Islands Branch, or any successor agent thereto.

 

“Term Loan Lenders”
means the “Lenders” as defined in the Term Loan Facility Agreement.

 

“Term Loan Facility”
has the meaning assigned in the Recitals hereto.

 

“Term Loan Facility
Agreement” shall mean the Term Loan Agreement, dated as of December 6, 2018, by and among Holdings, Intermediate Holdings,
Concrete Merger Sub, the Target, Credit Suisse AG, Cayman Islands Branch, as administrative agent, and the lenders from time to
time party thereto, as the same may be amended, amended and restated, modified, replaced or refinanced as permitted under the Intercreditor
Agreement.

 

“Term Loan Fee
Letter” shall mean the “Fee Letter” under and as defined in the Term Loan Facility Agreement.

 

“Termination
Date” has the meaning specified therefor in Section 5 of this Agreement.

 

“Test Period”
means, as of any date, the period of four consecutive fiscal quarters then most recently ended for which financial statements under
Section 5.1(a) or (b), as applicable, have been delivered (or are required to have been delivered); it being understood
and agreed that prior to the first delivery of financial statements of Section 5.1, “Test Period” means the
period of four consecutive fiscal quarters in respect of which financial statements for Holdings are available and have been delivered
to the Agent.

 

“Threshold Amount”
means $30,000,000.

 

“Total Leverage
Ratio” means the ratio, as of any date of determination, of (a) Consolidated Total Debt (as defined in the Term
Loan Facility Agreement in effect on the Closing Date) outstanding as of such date to (b) Consolidated Adjusted EBITDA for the
Test Period then most recently ended of the US Borrowers and their Restricted Subsidiaries on a consolidated basis.

 

“Trademark Security
Agreement” has the meaning specified therefor in the US Guaranty and Security Agreement.

 

“Transaction
Costs” means fees, premiums, expenses and other transaction costs (including original issue discount or upfront fees)
payable or otherwise borne by Holdings and/or its subsidiaries in connection with the Transactions and the transactions contemplated
thereby.

 

    	 	-58-	 

     

    

 

“Transactions”
means, collectively, (a) the execution and delivery by the Loan Parties of the Loan Documents to which they are a party and
the borrowing of Revolving Loans hereunder on the Closing Date, (b) the Merger and the other transactions contemplated by
the Concrete Pumping Acquisition Agreement, (c) the Equity Contributions, (d) the Target Refinancing, (e) the execution
and delivery by the Loan Parties of the Loan Documents (as defined in the Term Loan Facility Agreement) to which they are a party
and (f) the payment of Transaction Costs.

 

“Transfer Date”
has the meaning specified therefor in Section 16.5(f)(ii) of this Agreement.

 

“Treaty Lender”
means in respect of a UK Borrower, a Lender which, on the date a payment of interest falls due under this Agreement:

 

(a)          is
treated as a resident of a Treaty State for the purposes of the relevant Treaty;

 

(b)          does
not carry on a business in the United Kingdom through a permanent establishment with which that Lender’s participation in
any Loan is effectively connected; and

 

(c)          meets
all other conditions in the Treaty for full exemption from United Kingdom taxation on interest which relate to the Lender (including
its tax, qualified person or other status, the manner in which or the period for which it holds any rights under this Agreement
and any other Loan Document, the reasons or purposes for its acquisition of such rights and the nature of any arrangements by which
it disposes of or otherwise turns to account such rights).

 

“Treaty State”
means a jurisdiction having a double taxation agreement (a “Treaty”) with the United Kingdom which makes provision
for full exemption from, or a full refund of, Taxes imposed by the United Kingdom.

 

“UCP”
means, with respect to any Letter of Credit, the Uniform Customs and Practice for Documentary Credits 2007 Revision, International
Chamber of Commerce Publication No. 600 and any version or revision thereof accepted by Issuing Bank for use.

 

“UK Administrative
Borrower” has the meaning specified therefor in Section 17.14(b).

 

“UK Authorized
Person” means any one of the individuals identified as an officer of UK Administrative Borrower on Schedule A-2,
or any other officer of UK Administrative Borrower identified by UK Administrative Borrower as an authorized person with respect
to UK Administrative Borrower and authenticated through Agent’s electronic platform or portal in accordance with its procedures
for such authentication.

 

“UK Availability”
means, as of any date of determination, the aggregate Dollar Equivalent amount that UK Borrowers are entitled to borrow as UK Revolving
Loans under Section 2.1(c) (after giving effect to the then outstanding UK Revolver Usage and all UK Reserves imposed in
accordance with the terms hereof and then applicable thereunder).

 

“UK Bank Product”
means any one or more of the following financial products or accommodations extended to any UK Loan Party by a Bank Product Provider:
(a) credit cards (including commercial cards (including so-called “purchase cards”, “procurement cards”
or “p-cards”)), (b) credit card processing services, (c) debit cards, (d) stored value cards, (e) Cash Management Services,
or (f) transactions under Hedge Agreements.

 

    	 	-59-	 

     

    

 

“UK Bank Product
Agreements” means those agreements entered into from time to time by any UK Loan Party with a Bank Product Provider in
connection with the obtaining of any of the UK Bank Products.

 

“UK Bank Product
Collateralization” means providing cash collateral (pursuant to documentation reasonably satisfactory to Agent) to be
held by Agent for the benefit of the Bank Product Providers (other than the Hedge Providers) in an amount determined by Agent as
sufficient to satisfy the reasonably estimated credit exposure with respect to the then existing UK Bank Product Obligations (other
than UK Hedge Obligations).

 

“UK Bank Product
Obligations” means (a) all obligations, liabilities, reimbursement obligations, fees, or expenses owing by any UK Loan
Party to any Bank Product Provider pursuant to or evidenced by a UK Bank Product Agreement and irrespective of whether for the
payment of money, whether direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arising,
(b) all UK Hedge Obligations, and (c) all amounts that Agent or any Lender is obligated to pay to a Bank Product Provider as a
result of Agent or such Lender purchasing participations from, or executing guarantees or indemnities or reimbursement obligations
to, a Bank Product Provider with respect to the UK Bank Products provided by such Bank Product Provider to a UK Loan Party.

 

“UK Bank Product
Reserves” means, as of any date of determination, those reserves that Agent deems necessary or appropriate to establish
(based upon the Bank Product Providers’ determination of the liabilities and obligations of each UK Loan Party in respect
of UK Bank Product Obligations) in respect of UK Bank Products then provided or outstanding.

 

“UK Borrower”
and “UK Borrowers” have the respective meanings assigned in the Preamble hereto.

 

“UK Borrowing”
means a borrowing consisting of UK Revolving Loans made on the same day by the UK Lenders.

 

“UK Borrowing
Base” means, as of any date of determination, the Dollar Equivalent amount equal to the result of:

 

(a)         85%
of the amount of Eligible Accounts of any UK Borrower, less the amount, if any, of the Dilution Reserve, plus

 

(b)         the
lower of

 

(i)          $2,500,000,

 

(ii)         35%
of the UK Borrowers’ cost of Eligible Inventory, and

 

(iii)        85%
of the NOLV of the UK Borrowers’ Eligible Inventory, plus

 

(c)         the
lower of

 

(i)          85%
of the NOLV of Appraised Eligible Rolling Stock Collateral of any UK Borrower (for the avoidance of doubt, this calculation shall
not include any Eligible Rolling Stock Collateral constituting Interim Eligible Rolling Stock Collateral on such date of determination);
and

 

    	 	-60-	 

     

    

 

(ii)         100%
of the net book value of aggregate Appraised Eligible Rolling Stock Collateral of any UK Borrower (for the avoidance of doubt,
this calculation shall not include any Eligible Rolling Stock Collateral constituting Interim Eligible Rolling Stock Collateral
on such date of determination), plus

 

(d)         the
lower of

 

(i)          80%
of the hard costs of Interim Eligible Rolling Stock Collateral of any UK Borrower (for the avoidance of doubt, this calculation
shall not include any Eligible Rolling Stock Collateral constituting Appraised Eligible Rolling Stock Collateral on such date of
determination), and

 

(ii)         $5,000,000,
minus

 

(e)         the
aggregate amount of Reserves, if any, established by Agent under Section 2.1(e) of this Agreement.

 

“UK Blocked
Accounts” means the “Blocked Accounts” as defined in the UK Security Documents.

 

“UK Collateral”
means the Collateral pledged to UK Security Agent, for the benefit of the Secured Parties and any other holder of any Obligations
pursuant to the UK Security Documents.

 

“UK Designated
Account” means the Deposit Account of UK Administrative Borrower identified on Schedule D-1 to this Agreement
(or such other Deposit Account of UK Administrative Borrower located at UK Designated Account Bank that has been designated as
such, in writing, by UK Borrowers to Agent).

 

“UK Designated
Account Bank” has the meaning specified therefor in Schedule D-1 to this Agreement (or such other bank that is located
within the United Kingdom that has been designated as such, in writing, by UK Borrowers to Agent).

 

“UK Dilution”
means, as of any date of determination, a percentage, based upon the experience of the immediately prior 12 months, that is the
result of dividing the Dollar amount of (a) bad debt write-downs, discounts, advertising allowances, credits, or other dilutive
items with respect to the UK Borrowers’ Accounts during such period, by (b) the UK Borrowers’ billings with
respect to the relevant Accounts during such period.

 

“UK Dilution
Reserve” means, as of any date of determination, an amount sufficient to reduce the advance rate against the applicable
Eligible Accounts of the UK Borrowers by 1 percentage point for each percentage point by which UK Dilution is in excess of 5%.

 

“UK Eligible
Accounts” means the Eligible Accounts owned by a UK Borrower that comply with each of the representations and warranties
respecting Eligible Accounts and UK Eligible Accounts made in the Loan Documents.

 

“UK Equipment”
means all fixed and moveable plant, machinery, tools, vehicles, computers and office and other equipment and the benefit of all
related authorizations, agreements and warranties but excluding any stock in trade.

 

    	 	-61-	 

     

    

 

“UK Guarantee
and Debenture” means the English law governed guarantee and debenture dated as of the date hereof, in form and substance
satisfactory to Agent, executed and delivered by each UK Loan Party and UK Security Agent.

 

“UK Guarantor”
means (a) each UK Borrower (other than with respect to its own obligations), (b) any Person that is a “Guarantor” under
the UK Guarantee and Debenture, and (c) each Person organized under the laws of England and Wales that becomes a guarantor after
the Closing Date pursuant to Section 5.12 of this Agreement.

 

“UK Hedge Obligations”
means any and all obligations or liabilities, whether absolute or contingent, due or to become due, now existing or hereafter arising,
of each UK Loan Party arising under, owing pursuant to, or existing in respect of Hedge Agreements entered into with one or more
of the Hedge Providers.

 

“UK Issuing
Bank” means any UK Revolving Lender which issues a Letter of Credit (which includes the giving of any indemnity or guarantee
to any third party issuer of any underlying instrument) or any other lenders that at the request of the UK Administrative Borrowers
and with consent of Agent agrees in such lender’s sole discretion, to become a UK Issuing Bank for the purposes of this Agreement.

 

“UK ITA”
means the United Kingdom Income Tax Act 2007.

 

“UK Lender”
means a Lender with a UK Revolver Commitment or that is holding outstanding UK Revolver Usage.

 

“UK Letter of
Credit Usage” means, as of any date of determination, the sum of (a) the aggregate undrawn amount of all outstanding
Letters of Credit issued for the account of UK Borrowers, plus (b) the aggregate amount of outstanding reimbursement obligations
with respect to Letters of Credit issued for the account of UK Borrowers which remain unreimbursed or which have not been paid
through a UK Revolving Loan.

 

“UK Loan Account”
has the meaning specified therefor in Section 2.9.

 

“UK Loan Party”
means any UK Borrower or any UK Guarantor.

 

“UK Maximum
Revolver Amount” means the Dollar Equivalent of $60,000,000, as such amount may be increased by the amount of any Incremental
Revolving Commitments made in accordance with Section 2.14 of this Agreement.

 

“UK Non-Bank
Lender” means:

 

(a)          a
Lender (which falls within clause (a)(ii) of the definition of Qualifying Lender) which is a party to this Agreement and
which has provided a Tax Confirmation to Agent; and

 

(b)          where
a Lender becomes a party after the Closing Date, an Assignee which gives a Tax Confirmation in the Assignment and Acceptance which
it executes on becoming a party.

 

    	 	-62-	 

     

    

 

“UK Obligations”
means (a) all loans (including the UK Revolving Loans) debts, principal, interest (including any interest that accrues after the
commencement of an Insolvency Proceeding, regardless of whether allowed or allowable in whole or in part as a claim in any such
Insolvency Proceeding), reimbursement or indemnification obligations with respect to Letters of Credit issued for the account of
UK Borrowers (irrespective of whether contingent), premiums, liabilities (including all amounts charged to the UK Loan Account
pursuant to this Agreement), obligations (including indemnification obligations) of any UK Loan Party, fees (including the fees
provided for in the Fee Letter) of any UK Loan Party, Lender Group Expenses (including any fees or expenses that accrue after the
commencement of an Insolvency Proceeding, regardless of whether allowed or allowable in whole or in part as a claim in any such
Insolvency Proceeding) of any UK Loan Party, guaranties of any UK Loan Party, and all covenants and duties of any other kind and
description owing by any UK Loan Party arising out of, under, pursuant to, in connection with, or evidenced by this Agreement or
any of the other Loan Documents and irrespective of whether for the payment of money, whether direct or indirect, absolute or contingent,
due or to become due, now existing or hereafter arising, and including all interest not paid when due and all other expenses or
other amounts that any UK Loan Party is required to pay or reimburse by the Loan Documents or by law or otherwise in connection
with the Loan Documents, and (b) all UK Bank Product Obligations. Without limiting the generality of the foregoing, the UK Obligations
under the Loan Documents include the obligation to pay (i) the principal of the UK Revolving Loans, (ii) interest accrued on the
UK Revolving Loans, (iii) the amount necessary to reimburse Issuing Bank for amounts paid or payable pursuant to Letters of Credit
issued for the account of UK Borrowers, (iv) Letter of Credit commissions, fees (including fronting fees) and charges, (v) Lender
Group Expenses of any UK Loan Party, (vi) fees payable by any UK Loan Party under this Agreement or any of the other Loan Documents,
(vii) indemnities and other amounts payable by any UK Loan Party under or in connection with any Loan Document, and (viii) any
guaranties by any US Loan Party of all or any part of the UK Obligations. Any reference in this Agreement or in the Loan Documents
to the UK Obligations shall include all or any portion thereof and any extensions, modifications, renewals, or alterations thereof,
both prior and subsequent to any Insolvency Proceeding.

 

“UK Priority
Payables Reserve” means on any date of determination, a reserve in such amount as Agent may determine in its Permitted
Discretion which reflects the full amount of any liabilities or amounts which (by virtue of any Liens or any statutory provision)
rank in priority to Agent’s Liens on the Accounts or personal property of a UK Borrower or for amounts which may represent
costs relating to the enforcement of such Liens including, without limitation, (a) reserves with respect to carrier’s liens
and workman’s liens, (b) the expenses and liabilities incurred by any administrator (or other restructuring or insolvency
officer) and any remuneration of such administrator (or other restructuring or insolvency officer), (c) the amounts in the future,
currently or past due and not contributed, remitted or paid in respect of any occupational pension schemes and state scheme premiums,
together with any charges which are entitled to be levied by a Governmental Authority as a result of any default in payment obligations
in respect of any UK pension plan, (d) any preferential debt due and not paid under any legislation relating to employee compensation
or to employment insurance and all amounts deducted or withheld and not paid and remitted when due under Section 175 and 386 of
the Insolvency Act 1986 (UK) or any similar legislation related to taxes and any amount which could reasonably be expected to be
required to be made available by a UK Loan Party (or any insolvency officer) to unsecured creditors under Section 176A of the Insolvency
Act 1986 (UK).

 

“UK Reserves”
means (a) Reserves established and/or adjusted from time to time in connection with or related to any UK Loan Party in accordance
with the terms of this Agreement and (b) UK Bank Product Reserves.

 

“UK Revolver
Commitment” means, with respect to each Revolving Lender, its UK Revolver Commitment, and, with respect to all Revolving
Lenders, their UK Revolver Commitments, in each case as such Dollar Equivalent amounts are set forth beside such Revolving Lender’s
name under the applicable heading on Schedule C-1 or in the Assignment and Acceptance pursuant to which such Revolving Lender
became a Revolving Lender under this Agreement, as such amounts may be reduced or increased from time to time pursuant to assignments
made in accordance with the provisions of Section 13.1.

 

    	 	-63-	 

     

    

 

“UK Revolver
Usage” means with respect to UK Borrowers, as of any date of determination, (a) the Dollar Equivalent of the amount of
outstanding UK Revolving Loans plus (b) the Dollar Equivalent of the amount of the UK Letter of Credit Usage.

 

“UK Revolving
Lender” means a Lender that has a UK Revolver Commitment or that has an outstanding UK Revolving Loan.

 

“UK Revolving
Loan Exposure” means, with respect to any Revolving Lender, as of any date of determination (a) prior to the termination
of the UK Revolver Commitments, the amount of such Revolving Lender’s UK Revolver Commitment, and (b) after the termination
of the UK Revolver Commitments, the aggregate outstanding principal amount of the UK Revolving Loans of such Revolving Lender.

 

“UK Revolving
Loans” has the meaning specified therefor in Section 2.1(c).

 

“UK Security
Agent” means Wells Fargo Capital Finance (UK) Limited.

 

“UK Security
Documents” means the UK Guarantee and Debenture and each other pledge or security agreement or debenture governed by
English law and entered into by and among one or more Loan Parties and UK Security Agent, for the benefit of the Secured Parties
and any other holder of any Obligations, as may be amended, restated, supplemented or otherwise modified from time to time.

 

“United States”
or “US” means the United States of America.

 

“Unrestricted
Subsidiary” means any subsidiary of the Borrowers designated by the Borrowers as an Unrestricted Subsidiary after the
Closing Date pursuant to Section 5.11.

 

“Unused Line
Fee” has the meaning specified therefor in Section 2.10(b) of this Agreement.

 

“US Administrative
Borrower” has the meaning specified therefor in Section 17.14(a).

 

“US Authorized
Person” means any one of the individuals identified as an officer of US Administrative Borrower on Schedule A-2,
or any other officer of US Administrative Borrower identified by US Administrative Borrower as an authorized person with respect
to US Administrative Borrower and authenticated through Agent’s electronic platform or portal in accordance with its procedures
for such authentication.

 

“US Availability”
means, as of any date of determination, the aggregate Dollar Equivalent amount that US Borrowers are entitled to borrow as US Revolving
Loans under Section 2.1(a) (after giving effect to the then outstanding US Revolver Usage and all US Reserves imposed in
accordance with the terms hereof and then applicable thereunder).

 

“US Bank Product”
means any one or more of the following financial products or accommodations extended to any US Loan Party by a Bank Product Provider:
(a) credit cards (including commercial cards (including so-called “purchase cards”, “procurement cards”
or “p-cards”)), (b) credit card processing services, (c) debit cards, (d) stored value cards, (e) Cash Management Services,
or (f) transactions under Hedge Agreements.

 

    	 	-64-	 

     

    

 

“US Bank Product
Agreements” means those agreements entered into from time to time by any US Loan Party with a Bank Product Provider in
connection with the obtaining of any of the US Bank Products.

 

“US Bank Product
Collateralization” means providing cash collateral (pursuant to documentation reasonably satisfactory to Agent) to be
held by Agent for the benefit of the Bank Product Providers (other than the Hedge Providers) in an amount determined by Agent as
sufficient to satisfy the reasonably estimated credit exposure with respect to the then existing US Bank Product Obligations (other
than US Hedge Obligations).

 

“US Bank Product
Obligations” means (a) all obligations, liabilities, reimbursement obligations, fees, or expenses owing by any US Loan
Party to any Bank Product Provider pursuant to or evidenced by a US Bank Product Agreement and irrespective of whether for the
payment of money, whether direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arising,
(b) all US Hedge Obligations, and (c) all amounts that Agent or any Lender is obligated to pay to a Bank Product Provider as a
result of Agent or such Lender purchasing participations from, or executing guarantees or indemnities or reimbursement obligations
to, a Bank Product Provider with respect to the US Bank Products provided by such Bank Product Provider to a US Loan Party.

 

“US Bank Product
Reserves” means, as of any date of determination, those reserves that Agent deems necessary or appropriate to establish
(based upon the Bank Product Providers’ determination of the liabilities and obligations of each US Loan Party in respect
of US Bank Product Obligations) in respect of US Bank Products then provided or outstanding.

 

“US Borrower”
and “US Borrowers” have the respective meanings assigned in the Preamble hereto.

 

“US Borrowing”
means a borrowing consisting of US Revolving Loans made on the same day by the Lenders (or Agent on behalf thereof), or by Swing
Lender in the case of a Swing Loan, or by Agent in the case of an Extraordinary Advance.

 

“US Borrowing
Base” means, as of any date of determination, the result of:

 

(a)          85%
of the amount of Eligible Accounts of any US Borrower, less the amount, if any, of the Dilution Reserve, minus

 

(b)          the
aggregate amount of any Reserves, if any, established by Agent under Section 2.1(e) of this Agreement.

 

“US Cash Dominion
Period” means the period (a) commencing on the date that (i) Excess Availability at any time is less than the greater
of (A) 12.5% of the Line Cap or (B) $5,000,000 for a period of three (3) consecutive Business Days or (ii) a Specified Event of
Default shall exist or have occurred and be continuing and (b) continuing until (i) to the extent that the US Cash Dominion Period
has occurred due to clause (a)(i) of this definition during each of the preceding 30 consecutive days, Excess Availability
has been at least equal to greater of (x) 12.5% of the Line Cap or (y) $5,000,000 or (ii) to the extent that the US Cash Dominion
Period has occurred due to clause (a)(ii) of this definition, until such Specified Event of Default shall have been waived
by the Lenders in accordance with the terms of this Agreement.

 

“US Designated
Account” means the Deposit Account of US Administrative Borrower identified on Schedule D-1 to this Agreement
(or such other Deposit Account of US Administrative Borrower located at US Designated Account Bank that has been designated as
such, in writing, by US Borrowers to Agent).

 

    	 	-65-	 

     

    

 

“US Designated
Account Bank” has the meaning specified therefor in Schedule D-1 to this Agreement (or such other bank that is
located within the United States that has been designated as such, in writing, by US Borrowers to Agent).

 

“US Dilution”
means, as of any date of determination, a percentage, based upon the experience of the immediately prior 12 months, that is the
result of dividing the Dollar amount of (a) bad debt write-downs, discounts, advertising allowances, credits, or other dilutive
items with respect to the US Borrowers’ Accounts during such period, by (b) the US Borrowers’ billings with
respect to the relevant Accounts during such period.

 

“US Dilution
Reserve” means, as of any date of determination, an amount sufficient to reduce the advance rate against the applicable
Eligible Accounts of the US Borrowers by 1 percentage point for each percentage point by which US Dilution is in excess of 5%.

 

“US Eligible
Accounts” means the Eligible Accounts owned by a US Borrower that comply with each of the representations and warranties
respecting Eligible Accounts and US Eligible Accounts made in the Loan Documents.

 

“US Guarantor”
means (a) each US Borrower (other than with respect to its own obligations), (b) each Person organized under the laws of a jurisdiction
within the United States that guaranties all or a portion of the Obligations, including any Person that is a “Guarantor”
under the US Guaranty and Security Agreement, and (c) each other Person organized under the laws of a jurisdiction within the United
States that becomes a guarantor after the Closing Date pursuant to Section 5.12 of this Agreement.

 

“US Guaranty
and Security Agreement” means a guaranty and security agreement, dated as of even date with this Agreement, in form and
substance reasonably satisfactory to Agent, executed and delivered by each of the US Loan Parties to Agent.

 

“US Hedge Obligations”
means any and all obligations or liabilities, whether absolute or contingent, due or to become due, now existing or hereafter arising,
of each US Loan Party arising under, owing pursuant to, or existing in respect of Hedge Agreements entered into with one or more
of the Hedge Providers.

 

“US Issuing
Bank” means Wells Fargo or any other Lender that, at the request of Borrowers and with the consent of Agent, agrees,
in such Lender’s sole discretion, to become an Issuing Bank for the purpose of issuing Letters of Credit pursuant to Section
2.11 of this Agreement, and Issuing Bank shall be a Lender.

 

“US Lender”
means a Lender with a US Revolver Commitment or that is holding outstanding US Revolver Usage.

 

“US Letter of
Credit Usage” means, as of any date of determination, the sum of (a) the aggregate undrawn amount of all outstanding
Letters of Credit issued for the account of US Borrowers, plus (b) the aggregate amount of outstanding reimbursement obligations
with respect to Letters of Credit issued for the account of US Borrowers which remain unreimbursed or which have not been paid
through a US Revolving Loan.

 

    	 	-66-	 

     

    

 

“US Loan Account”
has the meaning specified therefor in Section 2.9.

 

“US Loan Party”
means any US Borrower or any US Guarantor.

 

“US Maximum
Revolver Amount” means $60,000,000, as such amount may be increased by the amount of any Incremental Revolving Commitments
made in accordance with Section 2.16 of this Agreement.

 

“US Obligations”
means (a) all loans (including the US Revolving Loans (inclusive of Extraordinary Advances and Swing Loans)), debts, principal,
interest (including any interest that accrues after the commencement of an Insolvency Proceeding, regardless of whether allowed
or allowable in whole or in part as a claim in any such Insolvency Proceeding), reimbursement or indemnification obligations with
respect to Letters of Credit issued for the account of US Borrowers (irrespective of whether contingent), premiums, liabilities
(including all amounts charged to the US Loan Account pursuant to this Agreement), obligations (including indemnification obligations)
of any US Loan Party, fees (including the fees provided for in the Fee Letter) of any US Loan Party, Lender Group Expenses (including
any fees or expenses that accrue after the commencement of an Insolvency Proceeding, regardless of whether allowed or allowable
in whole or in part as a claim in any such Insolvency Proceeding) of any US Loan Party, guaranties, and all covenants and duties
of any other kind and description owing by any US Loan Party arising out of, under, pursuant to, in connection with, or evidenced
by this Agreement or any of the other Loan Documents and irrespective of whether for the payment of money, whether direct or indirect,
absolute or contingent, due or to become due, now existing or hereafter arising, and including all interest not paid when due and
all other expenses or other amounts that any US Loan Party is required to pay or reimburse by the Loan Documents or by law or otherwise
in connection with the Loan Documents, and (b) all US Bank Product Obligations; provided, that the US Obligations of any
US Loan Party shall not include such US Loan Party’s Excluded Swap Obligations. Without limiting the generality of the foregoing,
the US Obligations under the Loan Documents include the obligation to pay (i) the principal of the US Revolving Loans, (ii) interest
accrued on the US Revolving Loans, (iii) the amount necessary to reimburse Issuing Bank for amounts paid or payable pursuant to
Letters of Credit issued for the account of US Borrowers, (iv) Letter of Credit commissions, fees (including fronting fees) and
charges, (v) Lender Group Expenses of any US Loan Party, (vi) fees payable by any US Loan Party under this Agreement or any of
the other Loan Documents, and (vii) indemnities and other amounts payable by any US Loan Party under or in connection with any
Loan Document. Any reference in this Agreement or in the Loan Documents to the US Obligations shall include all or any portion
thereof and any extensions, modifications, renewals, or alterations thereof, both prior and subsequent to any Insolvency Proceeding.

 

“US Person”
means any Person that is a “United States Person” as defined in Section 7701(a)(30) of the IRC.

 

“US Reserves”
means (a) Reserves established and/or adjusted from time to time in connection with or related to any US Loan Party in accordance
with the terms of this Agreement and (b) US Bank Product Reserves.

 

“US Revolver
Commitment” means, with respect to each Revolving Lender, its US Revolver Commitment, and, with respect to all Revolving
Lenders, their US Revolver Commitments, in each case as such Dollar amounts are set forth beside such Revolving Lender’s
name under the applicable heading on Schedule C-1 to this Agreement or in the Assignment and Acceptance pursuant to which
such Revolving Lender became a Revolving Lender under this Agreement, as such amounts may be reduced or increased from time to
time pursuant to assignments made in accordance with the provisions of Section 13.1.

 

    	 	-67-	 

     

    

 

“US Revolver
Usage” means, as of any date of determination, the sum of (a) the amount of outstanding US Revolving Loans (inclusive
of Swing Loans and Protective Advances), plus (b) the amount of the US Letter of Credit Usage.

 

“US Revolving
Lender” means a Lender that has a US Revolver Commitment or that has an outstanding US Revolving Loan.

 

“US Revolving
Loan Exposure” means, with respect to any Revolving Lender, as of any date of determination (a) prior to the termination
of the US Revolver Commitments, the amount of such Revolving Lender’s US Revolver Commitment, and (b) after the termination
of the Commitments, the aggregate outstanding principal amount of the US Revolving Loans of such Revolving Lender.

 

“US Revolving
Loans” has the meaning specified therefor in Section 2.1(b).

 

“US Security
Documents” means the US Guaranty and Security Agreement, the Controlled Account Agreements, each Copyright Security Agreement,
each Patent Security Agreement, each Trademark Security Agreement, each other pledge or security agreement entered into by and
among one or more Loan Parties and Agent, for the benefit of the Secured Parties and any other holder of any Obligations, in each
case as may be amended, restated, supplemented or otherwise modified from time to time.

 

“VAT”
means:

 

(a)          any
tax imposed in compliance with the Council Directive of 28 November 2006 on the common system of value added tax (EC Directive
2006/112); and

 

(b)          any
other tax of a similar nature, whether imposed in a member state of the European Union in substitution for, or levied in addition
to, such tax referred to in paragraph (a) above, or imposed elsewhere.

 

“Vehicle Sales/Use
Taxes Liabilities” means sales and/or use taxes which may potentially become due and payable, but which have not been
paid, by a Borrower with respect to Rolling Stock or related pumping Equipment relocated by a Borrower into Arkansas, Kansas, Missouri
or Texas from another State (other than Arkansas, Kansas, Missouri or Texas), which such Rolling Stock or Equipment is subject
to a Certificate of Title in a State other than Arkansas, Kansas, Missouri or Texas.

 

“Vehicle Sales/Use
Taxes Reserves” means, as of any date of determination, reserves that Agent deems necessary or appropriate, in its Permitted
Discretion and subject to Section 2.1(e), to establish and maintain with respect to the Vehicle Sales/Use Taxes Liabilities;
provided, that such reserves shall not exceed $500,000 in the aggregate at any one time.

 

“Voidable Transfer”
has the meaning specified therefor in Section 17.8 of this Agreement.

 

“Weighted Average
Life to Maturity” means, when applied to any Indebtedness at any date, the number of years obtained by dividing: (a) the
sum of the products obtained by multiplying (i) the amount of each then remaining installment, sinking fund, serial maturity
or other required payments of principal, including payment at final maturity, in respect thereof, by (ii) the number of years
(calculated to the nearest one-twelfth) that will elapse between such date and the making of such payment; by (b) the then
outstanding principal amount of such Indebtedness.

 

    	 	-68-	 

     

    

 

“Wells Fargo”
means Wells Fargo Bank, National Association, a national banking association.

 

“Wholly-Owned
Subsidiary” of any Person means a subsidiary of such Person, 100% of the Capital Stock of which (other than directors’
qualifying shares or shares required by Requirements of Law to be owned by a resident of the relevant jurisdiction) shall be owned
by such Person or by one or more Wholly-Owned Subsidiaries of such Person.

 

“Withholding
Agent” means any Loan Party and Agent.

 

“Write-Down
and Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion powers of such
EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down
and conversion powers are described in the EU Bail-In Legislation Schedule.

 

    	 	-69-	 

     

    

 

Schedule 3.1

 

The obligation of each
Lender to make its initial extension of credit provided for in the Agreement is subject to the fulfillment, to the satisfaction
of each Lender (the making of such initial extension of credit by any Lender being conclusively deemed to be its satisfaction or
waiver of the following), of each of the following conditions precedent, subject to the last paragraph of this Schedule 3.1:

 

		1.	Agent shall have received each of the following documents duly executed and delivered, and each
such document shall be in full force and effect:

 

		(a)	this Agreement,

 

		(b)	a completed Borrowing Base Certificate,

 

		(c)	a Solvency Certificate,

 

		(d)	the Intercreditor Agreement,

 

		(e)	the Disbursement Letter,

 

		(f)	the US Guaranty and Security Agreement,

 

		(g)	the UK Guarantee and Debenture,

 

		(h)	the Patent Security Agreement,

 

		(i)	the Trademark Security Agreement,

 

		(j)	a completed Perfection Certificate for each of the
initial Loan Parties.

 

		2.	The Agent shall have received (i) a certificate of each Loan Party, dated the Closing Date and
executed by a secretary, assistant secretary or other Responsible Officer thereof, which shall (ii) certify that attached thereto
are (x) a true and complete copy of the certificate or articles of incorporation, formation or organization of such Loan Party
which in the case of a US Loan Party shall be certified by the relevant authority of its jurisdiction of organization, which certificate
or articles of incorporation, formation or organization of such Loan Party attached thereto have not been amended (except as attached
thereto) since the date reflected thereon, (y) a true and correct copy of the by-laws or operating, management, partnership or
similar agreement of such Loan Party, together with all amendments thereto as of the Closing Date and such by-laws or operating,
management, partnership or similar agreement are in full force and effect and (z) a true and complete copy of the resolutions or
written consent, as applicable, of its board of directors, board of managers, sole member or other applicable governing body authorizing
the execution, delivery and performance of the Loan Documents, and, in the case of the Borrowers, the borrowings and other obligations
thereunder, which resolutions or consent have not been modified, rescinded or amended (other than as attached thereto) and are
in full force and effect, and (iii) identify by name and title and bear the signatures of the officers, managers, directors or
authorized signatories of such Loan Party authorized to sign the Loan Documents to which such Loan Party is a party on the Closing
Date and (iv) a good standing (or equivalent) certificate as of a recent date for such US Loan Party from the relevant authority
of its jurisdiction of organization.

 

     

     

    

 

		3.	Agent shall have received a customary written opinion of (i) Winston & Strawn LLP, as U.S.
counsel to the Loan Parties, and (ii) Holland & Hart LLP, as local Colorado counsel to the U.S. Borrowers;

 

		4.	The (i) Specified Acquisition Agreement Representations shall be true and correct to the extent
required by the terms of the definition thereof and (ii) the Specified Representations shall be true and correct in all material
respects on and as of the Closing Date; provided that (A) in the case of any Specified Representation which expressly relates to
a given date or period, such representation and warranty shall be true and correct in all material respects as of the respective
date or for the respective period, as the case may be and (B) if any Specified Representation is qualified by or subject to a “material
adverse effect”, “material adverse change” or similar term or qualification, (1) the definition thereof shall
be the definition of “Material Adverse Effect” for purposes of the making or deemed making of such Specified Representation
on, or as of, the Closing Date (or any date prior thereto) and (2) such Specified Representation shall be true and correct in all
respects.

 

		5.	The Equity Contributions shall have been consummated, and the proceeds shall have been used to
pay a portion of the cash purchase price for the Concrete Pumping Acquisition.

 

		6.	Substantially concurrently with the effectiveness of the Commitments hereunder, the Concrete Pumping
Acquisition shall be consummated in accordance with the terms of the Concrete Pumping Acquisition Agreement.

 

		7.	Prior to or substantially concurrently with the effectiveness of the Commitments hereunder,  all
existing third party debt for borrowed money of the Holdings and its subsidiaries, other than (A) Indebtedness outstanding under
the Term Loan Facility, (B) Indebtedness permitted to remain outstanding after the Closing Date under the Concrete Pumping Acquisition
Agreement and (C) Indebtedness described on Schedule 6.1 hereto, will be repaid, redeemed, defeased, discharged, refinanced
or terminated (or irrevocable notice for the repayment or redemption thereof will be given to the extent accompanied by any prepayments
or deposits required to defease, terminate and satisfy in full the obligations under any related indentures or notes) and all commitments
thereunder shall have been terminated (the actions described in this paragraph 7 are hereinafter collectively referred to as the
“Target Refinancing”).

 

		8.	All “Loan Documents” (as defined in the Term Loan Facility Agreement) shall have been
executed and delivered by the parties thereto and shall be effective to the extent required by the Term Loan Facility Agreement
as of the Closing Date.

 

		9.	Except as otherwise contemplated by the Concrete Pumping Acquisition Agreement, since September
7, 2018, there shall not have occurred a Material Adverse Effect (as defined in the Concrete Pumping Acquisition Agreement as in
effect on September 7, 2018) on Holdings.

 

		10.	The Lead Arranger shall have received (which, in the case of clauses (a) and (b),
may be delivered electronically on EDGAR at www.sec.gov via a link provided by the Borrowers) (a) an audited consolidated
balance sheet and audited consolidated statements of income, stockholders’ equity and cash flows of the Borrowers as of the
end of and for the fiscal years ended on or about October 31, 2015, October 31, 2016 and October 31, 2017, (b) unaudited consolidated
balance sheets and related statements of income and cash flows of the Borrowers for the fiscal quarters ended on or about April
30, 2018 and July 31, 2018 and (c) a pro forma consolidated balance sheet and related pro forma statement of income of the Borrowers
as of the last day of and for the four fiscal quarters ended on July 31, 2018, prepared after giving effect to the Transactions
as if the Transactions had occurred as of such date (in the case of such balance sheet) or at the beginning of such period (in
the case of the statement of income); provided, that each such pro forma financial statement shall be prepared in good faith
by the Borrowers.

 

    	 	-2-	 

     

    

 

		11.	Subject to the provisions of the Intercreditor Agreement, Agent shall have received all filings
and recordations that are necessary to perfect the security interests of Agent, on behalf of itself, the members of the Lender
Group and the Bank Product Providers, in the Collateral and Agent shall have received evidence reasonably satisfactory to Agent
that upon such filings and recordations such security interests constitute valid and perfected first priority Liens thereon (subject
only to specified Permitted Liens that by operation of law have priority).

 

		12.	Subject to the provisions of the Intercreditor Agreement, Agent shall have received (a) original
stock certificates or other certificates evidencing the Equity Interests pledged pursuant to the US Guaranty and Security Agreement,
together with an undated stock (or equivalent) power for each such certificate duly executed in blank by the registered owner thereof
and (b) each original promissory note pledged pursuant to the US Guaranty and Security Agreement, if any, together with an undated
endorsement for each such promissory note duly executed in blank by the holder thereof;

 

		13.	All (a) fees required to be paid on the Closing Date pursuant to the Fee Letter and (b) expenses
required to be paid on the Closing Date pursuant to the Commitment Letter (in the case of this clause (b), to the extent
invoiced at least 3 Business Days prior to the Closing Date or such later date to which the Borrowers may agree), shall, in each
case, have been paid (which amounts may be offset against the proceeds of any Loans deemed made on the Closing Date pursuant to
the Disbursement Letter).

 

		14.	Agent shall have received, at least 3 Business Days prior to the Closing Date, all documentation
and other information required by regulatory authorities with respect to the Loan Parties and their senior management and key principals
under applicable “know your customer” and anti-money laundering rules and regulations, including, without limitation,
the Patriot Act (including, without limitation, with respect to each Loan Party or Subsidiary thereof that qualifies as a “legal
entity customer” under the Beneficial Ownership Regulation, a Beneficial Ownership Certification in relation to such Loan
Party or such Subsidiary), that has been reasonably requested by Agent at least ten (10) Business Days in advance of the Closing
Date; provided that Agent shall have received all documentation and other information required under this Item #14
of Schedule 3.1 for any new Loan Party formed or senior management or key principal appointed within ten (10) Business Days
prior to the Closing Date.

 

Notwithstanding
the foregoing, to the extent any Collateral (including the creation or perfection of any Lien in favor of Agent) is not or cannot
be provided on the Closing Date (other than (i) the perfection of a Lien on Collateral that is of the type where a Lien on
such Collateral may be perfected solely by the filing of a financing statement under the Code or by filing form MR01 with the Registrar
of Companies House in respect of any Loan Party incorporated in England and Wales and (ii) a pledge or charge of the Equity
Interests of the Borrowers and the Subsidiary Guarantors with respect to which a lien may be perfected on the Closing Date by the
delivery of a stock or equivalent certificate (together with a stock power or similar instrument of transfer endorsed in blank
for the relevant certificate) to the extent such certificates are delivered to Concrete Merger Sub under the Concrete Pumping Acquisition
Agreement at least two Business Days prior to the Closing Date (after the Loan Parties’ use of commercially reasonable efforts
to obtain such certificates)), after the Loan Parties’ use of commercially reasonable efforts to do so without undue burden
or expense, then the provision and/or perfection of such Collateral shall not constitute a condition precedent to the availability
or initial funding of the Loans (or other extensions of credit) on the Closing Date but may instead be delivered and/or perfected
within 90 days (or such longer period as Agent may reasonably agree) after the Closing Date pursuant to arrangements to be mutually
agreed by the Administrative Borrower and Agent, each acting reasonably).

 

    	 	-3-

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