Document:

Exhibit 10.24

    

     

    
      Execution Version

    

     

    

    CREDIT AGREEMENT AND GUARANTY

     

    dated as of March 23, 2022

     

    by and among

     

    ADMA BIOLOGICS, INC.,

    as Borrower,

     

    THE LENDERS PARTY HERETO,

     

    and

     

    HAYFIN SERVICES LLP,

    as the Agent for the Lenders

     

    
      
        

    

    
    TABLE OF CONTENTS

     

    
      	 	
              Page

            
	
              ARTICLE I

            	 
	 	
              DEFINITIONS AND ACCOUNTING TERMS

            	
              1

            
	 	
              SECTION 1.1

            	
              Defined Terms

            	
              1

            
	 	
              SECTION 1.2

            	
              Interpretation

            	
              27

            
	 	
              SECTION 1.3

            	
              Accounting and Financial Determinations

            	
              28

            
	 	
              SECTION 1.4

            	
              Divisions

            	
              28

            
	 	
              SECTION 1.5

            	
              Rates

            	
              28

            
	
              ARTICLE II

            	 
	 	
              THE LOANS

            	
              29

            
	 	
              SECTION 2.1

            	
              Commitments

            	
              29

            
	 	
              SECTION 2.2

            	
              Borrowing Procedures

            	
              29

            
	 	
              SECTION 2.3

            	
              Funding

            	
              29

            
	 	
              SECTION 2.4

            	
              Illegality

            	
              29

            
	 	
              SECTION 2.5

            	
              Benchmark Replacement Setting.

            	
              30

            
	
              ARTICLE III

            	 
	 	
              REPAYMENTS, PREPAYMENTS, INTEREST AND FEES

            	
              31

            
	 	
              SECTION 3.1

            	
              Applicable Currency for Repayments and Prepayments; Pro Rata Application

            	
              31

            
	 	
              SECTION 3.2

            	
              Repayments and Prepayments

            	
              31

            
	 	
              SECTION 3.3

            	
              Application

            	
              32

            
	 	
              SECTION 3.4

            	
              Interest Rate

            	
              32

            
	 	
              SECTION 3.5

            	
              Default Rate

            	
              32

            
	 	
              SECTION 3.6

            	
              Payment Dates

            	
              32

            
	 	
              SECTION 3.7

            	
              Interest Computation

            	
              33

            
	 	
              SECTION 3.8

            	
              Term SOFR Conforming Changes

            	
              33

            
	 	
              SECTION 3.9

            	
              Fees

            	
              33

            
	 	
              SECTION 3.10

            	
              Early Prepayment Fees

            	
              33

            
	 	
              SECTION 3.11

            	
              Exit Fees

            	
              33

            
	 	
              SECTION 3.12

            	
              PIK Interest

            	
              34

            
	 	
              SECTION 3.13

            	
              Capitalized Interest and Fees

            	
              34

            
	
              ARTICLE IV

            	 
	 	
              SOFR AND OTHER PROVISIONS

            	
              34

            
	 	
              SECTION 4.1

            	
              Increased Costs

            	
              34

            
	 	
              SECTION 4.2

            	
              Compensation for Losses

            	
              35

            

    

     

    

    
      -i-

      
        

    

    
      	 	
              SECTION 4.3

            	
              Taxes.

            	
              35

            
	 	
              SECTION 4.4

            	
              Payments, Computations; Proceeds of Collateral, Etc

            	
              38

            
	 	
              SECTION 4.5

            	
              Setoff

            	
              39

            
	 	
              SECTION 4.6

            	
              Inability to Determine Rates

            	
              39

            
	 	
              SECTION 4.7

            	
              Sharing of Payments

            	
              40

            
	
              ARTICLE V

            	 
	 	
              CONDITIONS PRECEDENT

            	
              40

            
	 	
              SECTION 5.1

            	
              Conditions to the Borrowing of the Closing Date Loans

            	
              40

            
	 	
              SECTION 5.2

            	
              Conditions to the Borrowing of the Delayed Draw Loan

            	
              44

            
	
              ARTICLE VI

            	 
	 	
              REPRESENTATIONS AND WARRANTIES

            	
              45

            
	 	
              SECTION 6.1

            	
              Organization, Etc

            	
              45

            
	 	
              SECTION 6.2

            	
              Due Authorization, Non-Contravention, Etc

            	
              45

            
	 	
              SECTION 6.3

            	
              Government Approval, Regulation, Exclusivities, Etc

            	
              45

            
	 	
              SECTION 6.4

            	
              Validity, Etc

            	
              46

            
	 	
              SECTION 6.5

            	
              Financial Information

            	
              46

            
	 	
              SECTION 6.6

            	
              No Material Adverse Effect

            	
              46

            
	 	
              SECTION 6.7

            	
              Litigation, Labor Matters and Environmental Matters

            	
              46

            
	 	
              SECTION 6.8

            	
              Subsidiaries

            	
              47

            
	 	
              SECTION 6.9

            	
              Ownership of Properties

            	
              47

            
	 	
              SECTION 6.10

            	
              Taxes

            	
              47

            
	 	
              SECTION 6.11

            	
              Pension Plans, Etc

            	
              47

            
	 	
              SECTION 6.12

            	
              Accuracy of Information

            	
              47

            
	 	
              SECTION 6.13

            	
              Regulations U and X

            	
              48

            
	 	
              SECTION 6.14

            	
              Solvency

            	
              48

            
	 	
              SECTION 6.15

            	
              Collateral and Intellectual Property

            	
              48

            
	 	
              SECTION 6.16

            	
              Data Privacy.

            	
              49

            
	 	
              SECTION 6.17

            	
              Material Agreements

            	
              51

            
	 	
              SECTION 6.18

            	
              Permits

            	
              51

            
	 	
              SECTION 6.19

            	
              Regulatory Matters

            	
              52

            
	 	
              SECTION 6.20

            	
              Transactions with Affiliates

            	
              53

            
	 	
              SECTION 6.21

            	
              Investment Company Act

            	
              53

            
	 	
              SECTION 6.22

            	
              OFAC

            	
              53

            
	 	
              SECTION 6.23

            	
              Anti-Corruption

            	
              54

            
	 	
              SECTION 6.24

            	
              Deposit and Disbursement Accounts

            	
              54

            
	 	
              SECTION 6.25

            	
              Registration Rights

            	
              54

            

      

    

    
      -ii-

      
        

    

    
      	 	
              SECTION 6.26

            	
              Royalty and Other Payments

            	
              54

            
	 	
              SECTION 6.27

            	
              Sale and Leaseback

            	
              54

            
	 	
              SECTION 6.28

            	
              Senior Secured Obligations

            	
              54

            
	 	
              SECTION 6.29

            	
              Beneficial Ownership Certification

            	
              54

            
	 	
              SECTION 6.30

            	
              Supply and Manufacturing.

            	
              54

            
	
              ARTICLE VII

            	 
	 	
              AFFIRMATIVE COVENANTS

            	
              55

            
	 	
              SECTION 7.1

            	
              Financial Information, Reports, Notices, Etc

            	
              55

            
	 	
              SECTION 7.2

            	
              Maintenance of Existence; Compliance with Contracts, Laws, Etc

            	
              56

            
	 	
              SECTION 7.3

            	
              Maintenance of Properties

            	
              57

            
	 	
              SECTION 7.4

            	
              Insurance

            	
              57

            
	 	
              SECTION 7.5

            	
              Books and Records

            	
              57

            
	 	
              SECTION 7.6

            	
              Environmental Law Covenant

            	
              57

            
	 	
              SECTION 7.7

            	
              Use of Proceeds

            	
              58

            
	 	
              SECTION 7.8

            	
              Future Guarantors, Security, Etc

            	
              58

            
	 	
              SECTION 7.9

            	
              Obtaining of Permits, Etc

            	
              59

            
	 	
              SECTION 7.10

            	
              Product Licenses

            	
              59

            
	 	
              SECTION 7.11

            	
              Maintenance of Regulatory Authorizations, Contracts, Intellectual Property, Etc

            	
              59

            
	 	
              SECTION 7.12

            	
              Cash Management

            	
              60

            
	 	
              SECTION 7.13

            	
              Post-Closing Covenants

            	
              60

            
	
              ARTICLE VIII

            	 
	 	
              NEGATIVE COVENANTS

            	
              62

            
	 	
              SECTION 8.1

            	
              Business Activities

            	
              62

            
	 	
              SECTION 8.2

            	
              Indebtedness

            	
              62

            
	 	
              SECTION 8.3

            	
              Liens

            	
              63

            
	 	
              SECTION 8.4

            	
              Financial Covenants

            	
              64

            
	 	
              SECTION 8.5

            	
              Investments

            	
              65

            
	 	
              SECTION 8.6

            	
              Restricted Payments, Etc

            	
              66

            
	 	
              SECTION 8.7

            	
              Issuance of Capital Securities

            	
              66

            
	 	
              SECTION 8.8

            	
              Consolidation, Merger, Etc

            	
              66

            
	 	
              SECTION 8.9

            	
              Permitted Dispositions

            	
              67

            
	 	
              SECTION 8.10

            	
              Modification of Certain Agreements

            	
              67

            
	 	
              SECTION 8.11

            	
              Transactions with Affiliates

            	
              67

            
	 	
              SECTION 8.12

            	
              Restrictive Agreements, Etc

            	
              67

            
	 	
              SECTION 8.13

            	
              Sale and Leaseback

            	
              67

            
	 	
              SECTION 8.14

            	
              Product Sales

            	
              67

            

    

    

    

    
      -iii-

      
        

    

    
      	 	
              SECTION 8.15

            	
              Outbound Licenses

            	
              68

            
	 	
              SECTION 8.16

            	
              Inbound Licenses

            	
              68

            
	 	
              SECTION 8.17

            	
              Change in Name, Location, Executive Office, or Executive Management; Change in Fiscal Year

            	
              68

            
	 	
              SECTION 8.18

            	
              Negative Pledge

            	
              68

            
	 	
              SECTION 8.19

            	
              Sanctions

            	
              69

            
	 	
              SECTION 8.20

            	
              USRPHC Status

            	
              69

            
	 	
              SECTION 8.21

            	
              Hazardous Materials

            	
              69

            
	 	
              SECTION 8.22

            	
              Passive Holding Company

            	
              69

            
	 	
              SECTION 8.23

            	
              Blood Center Acquisitions/Investments

            	
              70

            
	
              ARTICLE IX

            	 
	 	
              EVENTS OF DEFAULT

            	
              70

            
	 	
              SECTION 9.1

            	
              Listing of Events of Default

            	
              70

            
	 	
              SECTION 9.2

            	
              Action if Bankruptcy

            	
              73

            
	 	
              SECTION 9.3

            	
              Action if Other Event of Default

            	
              73

            
	
              ARTICLE X

            	 
	 	
              ADMINISTRATIVE AGENT

            	
              73

            
	 	
              SECTION 10.1

            	
              Appointment

            	
              73

            
	 	
              SECTION 10.2

            	
              Rights as a Lender

            	
              73

            
	 	
              SECTION 10.3

            	
              Exculpatory Provisions

            	
              73

            
	 	
              SECTION 10.4

            	
              Reliance by Agent

            	
              74

            
	 	
              SECTION 10.5

            	
              Delegation of Duties

            	
              75

            
	 	
              SECTION 10.6

            	
              Resignation of Agent

            	
              75

            
	 	
              SECTION 10.7

            	
              Non-Reliance on Agent and Other Lenders

            	
              75

            
	 	
              SECTION 10.8

            	
              Agent May File Proofs of Claim

            	
              75

            
	 	
              SECTION 10.9

            	
              Collateral and Guaranty Matters.

            	
              76

            
	 	
              SECTION 10.10

            	
              Erroneous Payments.

            	
              76

            
	
              ARTICLE XI

            	 
	 	
              MISCELLANEOUS PROVISIONS

            	
              77

            
	 	
              SECTION 11.1

            	
              Waivers, Amendments, Etc

            	
              77

            
	 	
              SECTION 11.2

            	
              Notices; Time

            	
              77

            
	 	
              SECTION 11.3

            	
              Payment of Costs and Expenses

            	
              78

            
	 	
              SECTION 11.4

            	
              Indemnification

            	
              78

            
	 	
              SECTION 11.5

            	
              Survival

            	
              79

            
	 	
              SECTION 11.6

            	
              Obligations Several

            	
              79

            
	 	
              SECTION 11.7

            	
              Severability

            	
              79

              

            

    

    

    

    
      -iv-

      
        

    

    
      	 	
              SECTION 11.8

            	
              Headings

            	
              80

            
	 	
              SECTION 11.9

            	
              Execution, Effectiveness, Etc.

            	
              80

            
	 	
              SECTION 11.10

            	
              Governing Law; Entire Agreement

            	
              80

            
	 	
              SECTION 11.11

            	
              Register; Successors and Assigns

            	
              80

            
	 	
              SECTION 11.12

            	
              Other Transactions

            	
              81

            
	 	
              SECTION 11.13

            	
              Forum Selection and Consent to Jurisdiction

            	
              81

            
	 	
              SECTION 11.14

            	
              Waiver of Jury Trial

            	
              82

            
	 	
              SECTION 11.15

            	
              Interest Rate Limitation

            	
              82

            
	 	
              SECTION 11.16

            	
              Acknowledgment and Consent to Bail-In of Affected Financial Institutions

            	
              82

            
	 	
              SECTION 11.17

            	
              Judgment Currency

            	
              83

            
	 	
              SECTION 11.18

            	
              Early Prepayment Fee and Exit Fee

            	
              83

            
	 	
              SECTION 11.19

            	
              USA PATRIOT Act

            	
              83

            
	
              ARTICLE XII

            	 
	 	
              GUARANTEE

            	
              85

            
	 	
              SECTION 12.1

            	
              The Guarantee

            	
              85

            
	 	
              SECTION 12.2

            	
              Obligations Unconditional

            	
              86

            
	 	
              SECTION 12.3

            	
              Reinstatement

            	
              86

            
	 	
              SECTION 12.4

            	
              Subrogation

            	
              87

            
	 	
              SECTION 12.5

            	
              Remedies

            	
              87

            
	 	
              SECTION 12.6

            	
              Instrument for the Payment of Money

            	
              87

            
	 	
              SECTION 12.7

            	
              Continuing Guarantee

            	
              87

            
	 	
              SECTION 12.8

            	
              General Limitation on Guarantee Obligations

            	
              87

            

    

    

    

    
      -v-

      
        

    

    SCHEDULES:

     

    	
            Schedule 1.1

          	
            Key Permits

          
	
            Schedule 2

          	
            Loans

          
	
            Schedule 2.3

          	
            Funds Flow Schedule

          
	
            Schedule 6.7(a)

          	
            Litigation

          
	
            Schedule 6.8

          	
            Existing Subsidiaries

          
	
            Schedule 6.10

          	
            Taxes

          
	
            Schedule 6.11

          	
            Pension Plans

          
	
            Schedule 6.15(a)

          	
            Intellectual Property

          
	
            Schedule 6.15(c)

          	
            Third Party Infringements

          
	
            Schedule 6.17

          	
            Material Agreements

          
	
            Schedule 6.19(a)

          	
            Regulatory Authorizations

          
	
            Schedule 6.19(d), (f) and (g)

          	
            Regulatory Actions

          
	
            Schedule 6.20

          	
            Transactions with Affiliates

          
	
            Schedule 6.24

          	
            Deposit and Disbursement Accounts

          
	
            Schedule 6.25

          	
            Registration Rights Agreements

          
	
            Schedule 6.26

          	
            Royalties

          
	
            Schedule 7.13(a)

          	
            Notices of Commencement

          
	
            Schedule 7.13(f)

          	
            Landlord Lien Waivers

          
	
            Schedule 7.13(g)

          	
            SNDAs

          
	
            Schedule 7.13(j)

          	
            Certain Material Agreements

          
	
            Schedule 8.2(c)

          	
            Existing Indebtedness

          
	
            Schedule 8.3(b)

          	
            Existing Liens

          
	
            Schedule 8.5(a)

          	
            Investments

          
	
            Schedule 11.2

          	
            Notice Information

          

     

    

    EXHIBITS:

     

    	
            Exhibit A

          	
            -

          	
            Form of Compliance Certificate

          
	
            Exhibit B

          	
            -

          	
            Form of Loan Request

          
	
            Exhibit C

          	
            -

          	
            Form of Perfection Certificate

          
	
            Exhibit D

          	
            -

          	
            Form of Assignment and Assumption

          
	
            Exhibit E-1

          	
            -

          	
            Form of U.S. Tax Compliance Certificate (For Foreign Lenders

          
	 	 	
            That Are Not Partnerships For U.S. Federal Income Tax Purposes)

          
	
            Exhibit E-2

          	
            -

          	
            Form of U.S. Tax Compliance Certificate (For Foreign Participants

          
	 	 	
            That Are Not Partnerships For U.S. Federal Income Tax Purposes)

          
	
            Exhibit E-3

          	
            -

          	
            Form of U.S. Tax Compliance Certificate (For Foreign Participants

          
	 	 	
            That Are Partnerships For U.S. Federal Income Tax Purposes)

          
	
            Exhibit E-4

          	
            -

          	
            Form of U.S. Tax Compliance Certificate (For Foreign Lenders

          
	 	 	
            That Are Partnerships For U.S. Federal Income Tax Purposes)

          
	
            Exhibit F

          	
            -

          	
            Form of Intercompany Subordination Agreement

          

    

    

    
      -vi-

      
        

    

    CREDIT AGREEMENT AND GUARANTY

     

    CREDIT AGREEMENT AND GUARANTY dated as of March 23, 2022 (as amended, supplemented or otherwise modified from time to time, this “Agreement”), by and among ADMA BIOLOGICS, INC., a Delaware
      corporation (the “Borrower”), the Subsidiaries of the  Borrower from time to party hereto, as guarantors, the lenders from time to time party hereto (the “Lenders”) and HAYFIN SERVICES LLP, as Agent for the Lenders hereunder (in such
      capacity, together with its successors and assigns in such capacity, the “Agent”).

     

    WHEREAS, the Borrower has requested that the Lenders extend credit to the Borrower in the form of term loans in an aggregate principal amount of up to $175,000,000; and

     

    WHEREAS, the Lenders are willing to extend credit to the Borrower on the terms and subject to the conditions set forth herein.

     

    NOW, THEREFORE, the parties hereto agree as follows:

     

    ARTICLE I

    DEFINITIONS AND ACCOUNTING TERMS

     

    SECTION 1.1     Defined Terms.  The following terms (whether or not underscored) when used in this Agreement, including its preamble and recitals, shall, except where the context otherwise
      requires, have the following meanings (such meanings to be equally applicable to the singular and plural forms thereof):

     

    “ABR” means, for any day, a rate per annum equal to the highest of (a) the Prime Rate in effect on such day, (b) the Federal Funds Rate in effect on such day plus 0.50% and (c) Adjusted Term
      SOFR for a one-month tenor in effect on such day plus 1.00%. Any change in the ABR due to a change in the Prime Rate, the Federal Funds Rate or Adjusted Term SOFR shall be effective from and including the effective date of such change in the Prime
      Rate, the Federal Funds Rate or Adjusted Term SOFR, respectively.

     

    “ABR Loan” means a Loan that bears interest based on the ABR.

     

    “ABR Term SOFR Determination Day” has the meaning specified in the definition of “Term SOFR”.

     

    “Adjusted Term SOFR” means, for purposes of any calculation, the rate per annum equal to (a) Term SOFR for such calculation plus (b) if Term SOFR is greater than the Floor, the Term SOFR
      Adjustment.

     

    “Affected Financial Institution” means (a) any EEA Financial Institution or (b) any UK Financial Institution.

     

    “Affiliate” of any Person means any other Person which, directly or indirectly, controls, is controlled by or is under common control with such Person.  “Control” (and its correlatives)
      by any Person means the power of such Person, directly or indirectly, (i) to vote 10% or more of the Capital Securities (on a fully diluted basis) of another Person which Capital Securities have ordinary voting power for the election of directors,
      managing members or general partners (as applicable), or (ii) to direct or cause the direction of the management and policies of such other Person (whether by contract or otherwise).

     

    “Agent” has the meaning specified in the preamble.

     

    
      
        

    

    
    “Agreement” has the meaning specified in the preamble.

     

    “Applicable Margin” means, for any day, as to any SOFR Loan, 9.50% per annum or as to any ABR Loan, 8.50% per annum, in each case, as such percentage may be increased pursuant to Section
        3.5 or 3.12.

     

    “Assignment and Assumption” means an assignment and assumption entered into by a Lender and an assignee of such Lender substantially in the form of Exhibit D hereto.

     

    “Authorized Officer” means, relative to any Credit Party or any of its Subsidiaries, those of its officers, general partners or managing members (as applicable) whose signatures and incumbency
      shall have been certified to the Agent pursuant to Section 5.1(a).

     

    “Available Tenor” means, as of any date of determination and with respect to the then-current Benchmark, as applicable, (x) if such Benchmark is a term rate, any tenor for such Benchmark (or
      component thereof) that is or may be used for determining the length of an interest period pursuant to this Agreement or (y) otherwise, any payment period for interest calculated with reference to such Benchmark (or component thereof) that is or may
      be used for determining any frequency of making payments of interest calculated with reference to such Benchmark, in each case, as of such date and not including, for the avoidance of doubt, any tenor for such Benchmark that is then-removed from the
      definition of “Interest Period” pursuant to Section 2.5(d).

     

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

     

    “Bail-In Legislation” means, (i) 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, regulation, rule or requirement for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule and (ii) with respect to the United Kingdom,  Part I of the United Kingdom Banking Act 2009 (as
      amended from time to time) and any other law, regulation or rule applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through
      liquidation, administration or other insolvency proceedings).

     

    “Benchmark” means, initially, the Term SOFR Reference Rate; provided that if a Benchmark Transition Event has occurred with respect to the Term SOFR Reference Rate or the then-current
      Benchmark, then “Benchmark” means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant to Section 2.5(a).

     

    “Benchmark Replacement” means with respect to any Benchmark Transition Event, the sum of: (a) the alternate benchmark rate that has been selected by the Agent and the Borrower giving due
      consideration to (i) any selection or recommendation of a replacement benchmark rate or the mechanism for determining such a rate by the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention for determining a benchmark
      rate as a replacement to the then-current Benchmark for Dollar-denominated syndicated credit facilities and (b) the related Benchmark Replacement Adjustment; provided that, if such Benchmark Replacement as so determined would be less than the
      Floor, such Benchmark Replacement will be deemed to be the Floor for the purposes of this Agreement and the other Loan Documents.

     

    
      2

      
        

    

    “Benchmark Replacement Adjustment” means, with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark Replacement, the spread adjustment, or method for
      calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected by the Agent and the Borrower giving due consideration to (a) any selection or recommendation of a spread adjustment, or
      method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body or (b) any evolving or then-prevailing market convention for
      determining a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement for Dollar-denominated syndicated credit facilities.

     

    “Benchmark Replacement Date” means the earliest to occur of the following events with respect to the then-current Benchmark:

     

    (a)          in the case of clause (a) or (b) of the definition of “Benchmark Transition Event”, the later of (i) the date of the public statement or publication of information
      referenced therein and (ii) the date on which the administrator of such Benchmark (or the published component used in the calculation thereof) permanently or indefinitely ceases to provide all Available Tenors of such Benchmark (or such component
      thereof); or

     

    (b)         in the case of clause (c) of the definition of “Benchmark Transition Event”, the first date on which such Benchmark (or the published component used in the calculation thereof)
      has been determined and announced by or on behalf of the administrator of such Benchmark (or such component thereof) or the regulatory supervisor for the administrator of such Benchmark (or such component thereof) to be non-representative or
      non-compliant with or non-aligned with the International Organization of Securities Commissions (IOSCO) Principles for Financial Benchmarks; provided that such non-representativeness, non-compliance or non-alignment will be determined by
      reference to the most recent statement or publication referenced in such clause (c) and even if any Available Tenor of such Benchmark (or such component thereof) continues to be provided on such date.

     

    For the avoidance of doubt, the “Benchmark Replacement Date” will be deemed to have occurred in the case of clause (a) or (b) with respect to any Benchmark upon the occurrence of the
      applicable event or events set forth therein with respect to all then-current Available Tenors of such Benchmark (or the published component used in the calculation thereof).

     

    “Benchmark Transition Event” means the occurrence of one or more of the following events with respect to the then-current Benchmark:

     

    (a)          a public statement or publication of information by or on behalf of the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that such
      administrator has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof), permanently or indefinitely; provided that, at the time of such statement or publication, there is no successor
      administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof);

     

    (b)          a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof), the
      Federal Reserve Board, the Federal Reserve Bank of New York, an insolvency official with jurisdiction over the administrator for such Benchmark (or such component), a resolution authority with jurisdiction over the administrator for such Benchmark
      (or such component) or a court or an entity with similar insolvency or resolution authority over the administrator for such Benchmark (or such component), which states that the administrator of such Benchmark (or such component) has ceased or will
      cease to provide all Available Tenors of such Benchmark (or such component thereof) permanently or indefinitely; provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide any
      Available Tenor of such Benchmark (or such component thereof); or

     

    
      3

      
        

    

    (c)       a public statement or publication of information by or on behalf of the administrator of such Benchmark (or the published component used in the calculation thereof) or the regulatory
      supervisor for the administrator of such Benchmark (or such component thereof) announcing that all Available Tenors of such Benchmark (or such component thereof) are not, or as of a specified future date will not be, representative or in compliance
      with or aligned with the International Organization of Securities Commissions (IOSCO) Principles for Financial Benchmarks.

     

    For the avoidance of doubt, a “Benchmark Transition Event” will be deemed to have occurred with respect to any Benchmark if a public statement or publication of information set forth above has
      occurred with respect to each then-current Available Tenor of such Benchmark (or the published component used in the calculation thereof).

     

    “Benchmark Transition Start Date” means, in the case of a Benchmark Transition Event, the earlier of (a) the applicable Benchmark Replacement Date and (b) if such Benchmark Transition Event is
      a public statement or publication of information of a prospective event, the ninetieth (90th) day prior to the expected date of such event as of such public statement or publication of information (or if the expected date of such prospective event is
      fewer than ninety (90) days after such statement or publication, the date of such statement or publication).

     

    “Benchmark Unavailability Period” means, the period (if any) (a) beginning at the time that a Benchmark Replacement Date has occurred if, at such time, no Benchmark Replacement has replaced
      the then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with Section 2.5 and (b) ending at the time that a Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and
      under any Loan Document in accordance with Section 2.5.

     

    “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.

     

    “Blood Center Acquisition/Investment” has the meaning specified in Section 8.23.

     

    “Boca Facility” means the FDA-licensed plasma fractionation manufacturing facility located in Boca Raton, FL at 5800 Park of Commerce Boulevard, NW, Boca Raton, FL 33487 and 5900 Park of
      Commerce Boulevard, NW, Boca Raton, Florida 33487.

     

    “Boca Facility Title Policy” has the meaning specified in Section 7.13(e).

     

    “Borrower” has the meaning specified in the preamble.

     

    “Business Day” means any day that is not a Saturday, Sunday or other day that is a legal holiday under the laws of the State of New York or London or Luxembourg or is a day on which banking
      institutions in such state are authorized or required by Law to close.

     

    “Capital Securities” means, with respect to any Person, all shares of, interests or participations in, or other equivalents in respect of (in each case however designated, whether voting or
      non-voting), such Person’s capital stock or other equity securities, issued and outstanding as of the date hereof or any time hereafter, including treasury stock.

     

    
      4

      
        

    

    “Capitalized Lease Liabilities” means, with respect to any Person, all monetary obligations of such Person and its Subsidiaries under any leasing or similar arrangement which have been (or, in
      accordance with GAAP, should be) classified as capitalized leases, and for purposes of each Loan Document the amount of such obligations shall be the capitalized amount thereof, determined in accordance with GAAP, and the stated maturity thereof
      shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be terminated by the lessee without payment of a premium or a penalty.

     

    “Cash Equivalent Investment” means, at any time:

     

    (a)          any direct obligation of (or unconditionally guaranteed by) the United States or a state thereof or of the District of Columbia (or any agency or political subdivision thereof, to the
      extent such obligations are supported by the full faith and credit of the United States or a state thereof or of the District of Columbia) maturing not more than one (1) year after such time;

     

    (b)         commercial paper, or corporate demand notes, maturing not more than 270 days from the date of issue, which is issued by a corporation (other than an Affiliate of a Credit Party or any of
      its Subsidiaries) organized under the laws of any state of the United States or of the District of Columbia and rated A‐1 or higher by S&P or P‐1 or higher by Moody’s; or

     

    (c)         any certificate of deposit, time deposit or banker’s acceptance, maturing not more than one year after its date of issuance, which is issued by any bank organized under the laws of the
      United States (or any state thereof or of the District of Columbia) and which has (x) a credit rating of A2 or higher from Moody’s or A or higher from S&P and (y) a combined capital and surplus greater than $500,000,000.

     

    (d)        any repurchase agreement entered into with any commercial banking institution meeting the requirements set forth in clause (c) above which (i) is secured by a fully perfected
      security interest in any obligation of the type described in any of clauses (a) through (c) above and (ii) has a market value at the time such repurchase agreement is entered into of not less than one-hundred percent (100%) of the
      repurchase obligation of such commercial banking institution thereunder;

     

    (e)          money market accounts or mutual funds which invest exclusively or substantially in assets satisfying the foregoing requirements; or

     

    (f)          other short-term liquid investments approved in writing by the Agent.

     

    “cGMP” means the applicable regulations setting forth current Good Manufacturing Practices, promulgated by the FDA under the FD&C Act.

     

    “Change in Control” means and shall be deemed to have occurred if:

     

    (a)         any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act, but excluding any employee benefit plan of such person or its subsidiaries, and any person
      or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that a person or group shall be deemed to have
      “beneficial ownership” of all securities that such person or group has the right to acquire, whether such right is exercisable immediately or only after the passage of time (such right, an “option right”)), directly or indirectly, of 35% or more of
      the equity securities of the Borrower entitled to vote for members of the board of directors or equivalent governing body of the Borrower on a fully-diluted basis (and taking into account all such securities that such person or group has the right to
      acquire pursuant to any option right);

     

    
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    (b)       a majority of the seats (other than vacant seats) on the board of directors (or equivalent) of the Borrower shall at any time be occupied by persons who were not (x) directors (or
      equivalent) on the Closing Date, (y) nominated or appointed by the board of directors (or equivalent) of the Borrower as of the Closing Date or (z) nominated or appointed by directors (or equivalent) so nominated;

     

    (c)         the sale, lease, transfer, conveyance or other Disposition, in one or more related transactions, of all or substantially all of the assets of the Borrower and its Subsidiaries, taken as a
      whole, shall occur; or

     

    (d)          the Borrower shall cease to directly or indirectly own, beneficially and of record, 100% of the issued and outstanding Capital Securities of each Subsidiary Guarantor, free and clear of
      all Liens (other than any Liens granted hereunder and other Permitted Liens).

     

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

     

    “Closing Date” means March 23, 2022.

     

    “Closing Date Certificate” has the meaning specified in Section 5.1(b).

     

    “Closing Date Lenders” means each Lender that has Commitments to make Closing Date Loans on the Closing Date.

     

    “Closing Date Loan” means the term loans made on the Closing Date pursuant to Section 2.1(a) in an aggregate principal amount of $150,000,000.

     

    “Closing Date Loan Commitment Amount” means $150,000,000.

     

    “Code” means the U.S. Internal Revenue Code of 1986, as amended.

     

    “Collateral” means any asset or property in which a Lien is purported to be granted under any Loan Document, including future acquired or created assets or property (or all such assets or
      property, as the context may require).

     

    “Collateral Documents” means the Security Agreement, the  Patent Security Agreement, the Trademark Security Agreement, any Controlled Account Agreement, any Mortgages, any Leasehold Mortgages
      and all other instruments, documents and agreements delivered by any Credit Party pursuant to this Agreement or any of the other Loan Documents, in each case, in order to grant to the Agent in favor and for the benefit of the Agent and the other
      Secured Parties or perfect a Lien on any Collateral as security for the Obligations, and all amendments, restatements, modifications or supplements thereof or thereto.

     

    
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    “Competitor” means, at any time of determination, any Person that is an operating company directly and primarily engaged in the same or substantially the same line of business as the Borrower
      as of such time, including without limitation, any Person that is listed as a competitor in the Borrower’s filings made with the SEC.

     

    “Compliance Certificate” means a certificate duly completed and executed by an Authorized Officer of the Borrower, substantially in the form of Exhibit A hereto, together with such
      changes thereto as the Agent or the Majority Lenders may from time to time request for the purpose of monitoring compliance with the financial covenants contained herein.

     

    “Conforming Changes” means, with respect to either the use or administration of Term SOFR or the use, administration, adoption or implementation of any Benchmark Replacement, any technical,
      administrative or operational changes (including changes to the definition of “ABR,” the definition of “Business Day,” the definition of “U.S. Government Securities Business Day,” the definition of “Interest Period” or any similar or analogous
      definition (or the addition of a concept of “interest period”), timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of
      lookback periods, the applicability of Section 4.2 and other technical, administrative or operational matters) that the Agent decides may be appropriate to reflect the adoption and implementation of any such rate or to permit the use and
      administration thereof by the Agent in a manner substantially consistent with market practice (or, if the Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Agent determines that no market
      practice for the administration of any such rate exists, in such other manner of administration as the Agent decides is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents).

     

    “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 Total Revenue” means, for any applicable Fiscal Period, the gross revenue of the Credit Parties and their Subsidiaries from the sale of Products during such Fiscal Period,
      determined on a consolidated basis in accordance with GAAP.

     

    “Contingent Liability” means any agreement, undertaking or arrangement by which any Person guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect
      agreement, contingent or otherwise, to provide funds for payment, to supply funds to, or otherwise to invest in, a debtor, or otherwise to assure a creditor against loss) the Indebtedness of any other Person (other than by endorsements of instruments
      in the course of collection), or guarantees the payment of dividends or other distributions upon the Capital Securities of any other Person. The amount of any Person’s obligation under any Contingent Liability shall (subject to any limitation set
      forth therein) be deemed to be the outstanding principal amount of the debt, obligation or other liability guaranteed thereby.

     

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

     

    “Controlled Account” has the meaning specified in Section 7.12(a).

     

    “Controlled Account Agreement” means, with respect to any Controlled Account, an account control agreement (or equivalent) in favor of, and satisfactory in form and substance to, the Agent
      (acting on the instructions of the Majority Lenders acting reasonably).

     

    
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    “Copyright Security Agreement” means any Copyright Security Agreement executed and delivered by any Credit Party and/or any of its Subsidiaries, as applicable, substantially in the form of
      Exhibit E to the Security Agreement, as amended or otherwise modified from time to time.

     

    “Copyrights” means all copyrights and rights in copyrightable subject matter, whether statutory or common law, and all exclusive and nonexclusive licenses from third parties or rights to use
      copyrights owned by such third parties, along with any and all (i) renewals, revisions, extensions, derivative works, enhancements, modifications, updates and new releases thereof, (ii) income, royalties, damages, claims and payments now and
      hereafter due and/or payable with respect thereto, including, without limitation, damages and payments for past, present or future infringements thereof, (iii) rights to sue for past, present and future infringements thereof, and (iv) foreign
      copyrights and any other rights corresponding thereto throughout the world.

     

    “Credit Parties” means, collectively, the Borrower and the Guarantors.

     

    “Data Activities” has the meaning specified in Section 6.16(a).

     

    “Default” means any Event of Default or any condition, occurrence or event which, after notice or lapse of time or both, would constitute an Event of Default.

     

    “Delayed Draw Commitment Expiration Date” means March 23, 2023.

     

    “Delayed Draw Date” means the date on which the Borrower requests the Delayed Draw Loan; provided that such date is after the later of the Closing Date and April 1, 2022 and before the
      Delayed Draw Commitment Expiration Date.

     

    “Delayed Draw Date Certificate” has the meaning specified in Section 5.2(a).

     

    “Delayed Draw Loan” means the term loan made after the later of the Closing Date and April 1, 2022 but before the Delayed Draw Commitment Expiration Date pursuant to Section 2.1(b)
      in an aggregate principal amount of $25,000,000.

     

    “Delayed Draw Loan Commitment Amount” means $25,000,000.

     

    “Designated Jurisdiction” means any country or territory to the extent that such country or territory is the subject of any Sanction.

     

    “Disposition” (or similar words such as “Dispose”) means any sale, transfer, lease, contribution or other conveyance (including by way of merger) of, or the granting of options,
      warrants or other rights to, a Credit Party’s or its Subsidiaries’ assets (including accounts receivable and Capital Securities of Subsidiaries) to any other Person (other than to the Borrower or a Wholly Owned Subsidiary Guarantor) in a single
      transaction or series of transactions.

     

    “Disqualified Capital Securities” means, with respect to any Person, any Capital Security of such Person that, by its terms (or by the terms of any security or other Capital Security into
      which it is convertible or for which it is exchangeable), or upon the happening of any event or condition (i) matures or is mandatorily redeemable (other than solely for Qualified Capital Securities of the Borrower), including pursuant to a sinking
      fund obligation or otherwise, (ii) is redeemable at the option of the holder thereof (other than solely for Qualified Capital Securities of the Borrower), in whole or in part, (iii) provides for the scheduled payments of dividends in cash, or (iv) is
      or becomes convertible into or exchangeable for Indebtedness or any other Capital Securities that would constitute Disqualified Capital Securities, in each case, prior to the date that is one hundred eighty (180) days after the Maturity Date.

     

    
      8

      
        

    

    “Disqualified Institution” means any hedge fund or private equity fund that principally invests in distressed debt for the purpose of owning equity in the applicable borrower.

     

    “Dollars” and the sign “$” mean lawful money of the United States.

     

    “Donor Account” means each deposit account held by ADMA BioCenters Georgia Inc. and maintained with SunTrust Bank and 3Pea International, Inc., from which withdrawals are made solely for the
      purpose of compensating the Borrower’s blood plasma donors for blood plasma donations in the ordinary course of Borrower’s business.

     

    “Early Prepayment Fee” means for any prepayment or repayment of Loans occurring (i) at any time on or prior to the first anniversary of the Closing Date, an amount equal to seven percent
      (7.0%) of the aggregate outstanding principal amount of the Loans being prepaid; (ii) at any time after the first anniversary of the Closing Date and on or prior to the second anniversary of the Closing Date, an amount equal to three percent (3.0%)
      of the aggregate outstanding principal amount of the Loans being prepaid; (iii) at any time after the second anniversary of the Closing Date and on or prior to the third anniversary of the Closing Date, an amount equal to one percent (1.0%) of the
      aggregate outstanding principal amount of the Loans being prepaid; and (iv) at any time after the third anniversary of the Closing Date, none.

     

    “EEA Financial Institution” means (i) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (ii)
      any entity established in an EEA Member Country which is a parent of an institution described in clause (i) of this definition, or (iii) any financial institution established in an EEA Member Country which is a subsidiary of an institution
      described in clauses (i) or (ii) 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.

     

    “Environmental Laws” means all federal, state, local or international laws, statutes, rules, regulations, codes, directives, treaties, requirements, ordinances, orders, decrees, judgments,
      injunctions, notices or binding agreements issued, promulgated or entered into by any Governmental Authority, relating in any way to (i) environmental matters, including those relating to any Hazardous Materials Activity; (ii) the generation, use,
      storage, transportation or disposal of Hazardous Materials; or (iii) occupational safety and health, industrial hygiene, land use or the protection of human, plant or animal health or welfare, in each case, in any manner applicable to any Credit
      Party, or any Subsidiary thereof or any of their respective facilities.

     

    “Environmental Liability” means any liability, loss, claim, suit, action, investigation, proceeding, damage, commitment or obligation, contingent or otherwise (including any liability for
      damages, costs of environmental remediation, fines, penalties or indemnities), of or affecting any Credit Party or its Subsidiaries directly or indirectly arising from, in connection with or based upon (i) any Environmental Law or Environmental
      Permit, (ii) the generation, use, handling, transportation, storage, treatment, recycling, presence, disposal, Release or threatened Release of, or exposure to, any Hazardous Materials or (iii) any contract, agreement, penalty, order, decree,
      settlement, injunction or other arrangement (including operation of law) pursuant to which liability is assumed, entered into, inherited or imposed with respect to any of the foregoing.

     

    
      9

      
        

    

    “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 (i) pursuant to or in connection with any actual or alleged violation of any Environmental Law, (ii) in connection with any Hazardous Material or any actual or alleged Hazardous Materials
      Activity or (iii) in connection with any actual or alleged damage, injury, threat or harm to health, safety, natural resources or the environment.

     

    “Environmental Permit” has the meaning specified in Section 6.7(c).

     

    “Environmental Reports” has the meaning specified in Section 7.13(b).

     

    “ERISA” means the Employee Retirement Income Security Act of 1974, as amended, and any successor statute thereto of similar import, together with the regulations thereunder, in each case as in
      effect from time to time. References to Sections of ERISA also refer to any successor Sections thereto.

     

    “ERISA Affiliate” means any person that for purposes of Title I and Title IV of ERISA and Section 412 of the Code would be deemed to be a single employer with the Borrower, pursuant to Section
      414(b), (c), (m) or (o) of the Code or Section 4001 of ERISA.

     

    “ERISA Event” means (i) any reportable event, as defined in Section 4043 of ERISA, with respect to a Pension Plan, as to which PBGC has not by regulation waived the requirement of Section
      4043(a) of ERISA that it be notified of such event, (ii) the filing of a notice of intent to terminate any Pension Plan, if such termination could reasonably be expected to require material additional contributions in order to be considered a
      standard termination within the meaning of Section 4041(b) of ERISA, the filing under Section 4041(c) of ERISA of a notice of intent to terminate any Pension Plan or the termination of any Pension Plan under Section 4041(c) of ERISA, (iii) the
      institution of proceedings under Section 4042 of ERISA by the PBGC for the termination of, or the appointment of a trustee to administer, any Pension Plan, (iv) any failure by any Pension Plan to satisfy the minimum funding requirements of Sections
      412 and 430 of the Code or Section 302 of ERISA applicable to such Pension Plan, if not waived, (v) the failure to make a required contribution to any Pension Plan that could reasonably be expected to result in the imposition of an encumbrance on a
      Credit Party, any of its Subsidiaries or any ERISA Affiliate under Section 412 or 430 of the Code or at any time prior to the Closing Date, a filing under Section 412 of the Code or Section 302 of ERISA of any request for a minimum funding variance
      with respect to any Pension Plan or Multiemployer Plan, (vi) an engagement in a non-exempt prohibited transaction within the meaning of Section 4975 of the Code or Section 406 of ERISA with respect to which a Credit Party or any of its Subsidiaries
      could reasonably be expected to incur liability which could reasonably be expected to have a Material Adverse Effect, (vii) the complete or partial withdrawal of a Credit Party, any of its Subsidiaries or any ERISA Affiliate from a Multiemployer
      Plan, (viii) a Credit Party, any of its Subsidiaries or an ERISA Affiliate incurring any material liability under Title IV of ERISA with respect to any Pension Plan (other than premiums due and not delinquent under Section 4007 of ERISA), (ix) a
      determination by an actuary for a Pension Plan that such Pension Plan is, or is expected to be, in “at risk” status (as defined in Section 303(i)(4) of ERISA or Section 430(i)(4) of the Code) and (x) the assertion of a material claim (other than a
      routine claim for benefits) against any Plan or against any Credit Party, any of its Subsidiaries or any ERISA Affiliate in connection with any Plan.

     

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

     

    
      10

      
        

    

    “Event of Default” has the meaning specified in Section 9.1.

     

    “Event of Loss” means, with respect to any asset of a Credit Party or any of its Subsidiaries, any of the following: (i) any loss, destruction or damage of such asset or (ii) any actual
      condemnation, seizure or taking, by exercise of the power of eminent domain or otherwise, of such asset, or confiscation of such asset or requisition of the use of such asset.

     

    “Exchange Act” means the Securities Exchange Act of 1934, as amended.

     

    “Excluded Account” has the meaning set forth in the Security Agreement.

     

    “Excluded Taxes” means any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or deducted from a payment to a Recipient: (i) Taxes imposed on or
      measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (x) imposed as a result of such Recipient being organized under the laws of, or having its principal office or, in the case of any Lender, its
      applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (y) that are Other Connection Taxes, (ii) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan pursuant to a law in effect on the date on which (x) such Lender acquires such interest
      in a Loan or (y) such Lender changes its lending office, except in each case to the extent that, pursuant to Section 4.3, amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a
      party hereto or to such Lender immediately before it changed its lending office, (iii) Taxes attributable to such Recipient’s failure to comply with Section 4.3(g) and (iv) any withholding Taxes imposed under FATCA.

     

    “Exit Fee” means for any prepayment or repayment of Loans, an amount equal to one percent (1.0%) of the aggregate outstanding principal amount of the Loans being prepaid or repaid.

     

    “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 and any fiscal or regulatory legislation, rules or practices adopted pursuant to any
      intergovernmental agreement, treaty or convention among Governmental Authorities and implementing such Sections of the Code.

     

    “FDA” means the U.S. Food and Drug Administration and any successor entity.

     

    “FD&C Act” means the U.S. Federal Food, Drug and Cosmetic Act of 1938 (or any successor thereto), as amended from time to time, and the rules and regulations promulgated thereunder.

     

    “Federal Funds Rate” means, for any day, the greater of (a) 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 shall set forth on its public website from time to time) and published on the next succeeding Business Day by the Federal Reserve Bank of New York as the Federal funds
      effective rate and (b) 0%.

     

    “Federal Reserve Board” means the Board of Governors of the Federal Reserve System of the United States.

     

    “Floor” means a rate of interest equal to 1.25%.

     

    
      11

      
        

    

    “Fee Letter” means that certain Fee Letter, dated as of the date hereof, by and among the Borrower, the Agent and the Lenders, as amended or otherwise modified from time to time.

     

    “Fiscal Period” means, as applicable, a Fiscal Quarter or a Fiscal Year.

     

    “Fiscal Quarter” means a quarter ending on the last day of March, June, September or December.

     

    “Fiscal Year” means any period of twelve consecutive calendar months ending on December 31; references to a Fiscal Year with a number corresponding to any calendar year (e.g., the “2020 Fiscal
      Year”) refer to the Fiscal Year ending December 31 of such calendar year.

     

    “Foreign Lender” means a Lender that is not a U.S. Person.

     

    “F.R.S. Board” means the Board of Governors of the Federal Reserve System or any successor thereto.

     

    “Funded Indebtedness” of any Person means Indebtedness of the type described in clauses (a) and (c) of the definition of Indebtedness, and all Contingent Liabilities of such
      Person in respect of any such Funded Indebtedness.

     

    “GAAP” has the meaning specified in Section 1.3.

     

    “Governmental Authority” means any national, supranational, federal, state, county, provincial, local, municipal or other government or political subdivision thereof (including any Regulatory
      Authority), whether domestic or foreign, and any agency, authority, commission, ministry, instrumentality, regulatory body, court, tribunal, arbitrator, central bank or other Person exercising executive, legislative, judicial, taxing, regulatory or
      administrative powers or functions of or pertaining to any such government; any entity that contracts with a governmental entity to administer or assist in the administration of a governmental program (including any Medicare or Medicaid
      administrative contractors); or any arbitrator with authority to bind a party at law.

     

    “Guaranteed Obligations” has the meaning specified in Section 12.1.

     

    “Guarantors” means, collectively, the Borrower and each Subsidiary Guarantor.

     

    “Hayfin Equity Investors” means one or more Affiliates or related funds of the Closing Date Lenders.

     

    “Hazardous Material” means any material, substance, chemical, mixture or waste which is capable of damaging or causing harm to any living organism, the environment or natural resources,
      including all explosive, special, hazardous, polluting, toxic, industrial, dangerous, biohazardous, medical, infectious or radioactive substances, materials or wastes, noise, odor, electricity or heat, and including petroleum or petroleum products,
      byproducts or distillates, asbestos or asbestos-containing materials, urea formaldehyde, polychlorinated biphenyls, radon gas, ozone-depleting substances, greenhouse gases, and all other substances or wastes of any nature regulated pursuant to any
      Environmental Law or as to which any Governmental Authority requires investigation, reporting or remedial action.

     

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

     

    
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    “Healthcare Laws” means all applicable federal, state or local laws that govern Product Development and Commercialization Activities including, but not limited to, the FD&C Act; the Public
      Health Service Act; the federal False Claims Act; the federal Anti-Kickback Statute; the Anti-Inducement Law; the Stark Law; privacy and data security laws including without limitation the Health Insurance Portability and Accountability Act of 1996,
      as amended, and all implementing regulations (HIPAA); laws governing the Medicare Program (Title XVIII of the Social Security Act) and the Medicaid Program (Title XIX of the Social Security Act); all applicable rules, regulations and licensing
      requirements of applicable state agencies; laws and regulations pertaining to federal and state relief programs related to COVID-19; the Federal Trade Commission Act; and all other analogous laws to the foregoing within any other U.S. or foreign or
      supranational jurisdiction, and applicable rules and regulations issued thereunder.

     

    “Hedging Agreement” means any interest rate, foreign currency, commodity, credit or equity swap, collar, cap, floor or forward rate agreement, or other agreement or arrangement designed to
      protect against fluctuations in interest rates or currency, commodity or equity values (including any option with respect to any of the foregoing and any combination of the foregoing agreements or arrangements), and any confirmation executed in
      connection with any such agreement or arrangement.

     

    “Hedging Obligations” means, with respect to any Person, all liabilities of such Person under currency exchange agreements, interest rate swap agreements, interest rate cap agreements and
      interest rate collar agreements, and all other agreements or arrangements designed to protect such Person against fluctuations in interest rates or currency exchange rates.

     

    “herein”, “hereof”, “hereto”, “hereunder” and similar terms contained in any Loan Document refer to such Loan Document as a whole and not to any particular Section,
      paragraph or provision of such Loan Document.

     

    “Impermissible Qualification” means any qualification, exception or emphasis of matter to the opinion or certification of any independent public accountant as to any financial statement of a
      Credit Party or any of its Subsidiaries (i) which is of a “going concern” or similar nature (other than any such qualification arising from the Loans hereunder maturing less than one year following the date of such financial statements), (ii) which
      relates to the limited scope of examination of matters relevant to such financial statement or (iii) which relates to the treatment or classification of any item in such financial statement and which, as a condition to its removal, would require an
      adjustment to such item the effect of which could be to cause the Borrower to be in Default.

     

    “Indebtedness” of any Person means:

     

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

     

    (b)         all obligations, contingent or otherwise, relative to the face amount of all letters of credit, whether or not drawn, and banker’s acceptances issued for the account of such Person;

     

    (c)          all Capitalized Lease Liabilities of such Person;

     

    (d)         net Hedging Obligations of such Person and all obligations of such Person arising under Synthetic Leases;

     

    
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    (e)        all obligations issued, undertaken or assumed as the deferred purchase price of property or services, including earn outs, purchase price adjustments and seller notes in connection with
      acquisitions permitted hereunder (to the extent due and payable and included as a liability on the balance sheet in accordance with GAAP) (other than trade payables entered into in the ordinary course of business);

     

    (f)          whether or not so included as liabilities in accordance with GAAP, all obligations of such Person to pay the deferred purchase price of property or services (excluding trade accounts
      payable in the ordinary course of business which are not overdue for a period of more than ninety (90) days or, if overdue for more than ninety (90) days, as to which a dispute exists and adequate reserves in conformity with GAAP have been
      established on the books of such Person), and indebtedness secured by (or for which the holder of such indebtedness has an existing right, contingent or otherwise, to be secured by) a Lien on property owned or being acquired by such Person (including
      indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed by such Person or is limited in recourse;

     

    (g)          any Disqualified Capital Securities; and

     

    (h)        all Contingent Liabilities of such Person in respect of any of the foregoing clauses (a) through (g) inclusive.

     

    The Indebtedness of any Person shall include the Indebtedness of any other Person (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as
      a result of such Person’s ownership interest in or other relationship with such Person, except to the extent the terms of such Indebtedness expressly provide that such Person is not liable therefor.

     

    “Indemnified Liabilities” has the meaning specified in Section 11.4(a).

     

    “Indemnified Parties” has the meaning specified in Section 11.4(a).

     

    “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 Credit Party under any Loan Document
      and (b) to the extent not otherwise described in (a), Other Taxes.

     

    “Intellectual Property” means all (i) Patents, (ii) Trademarks, (iii) Copyrights and other works of authorship (registered or unregistered), and all applications, registrations and renewals
      therefor, (iv) Product Agreements, (v) computer software, databases, data and documentation, (vi) Trade Secrets and confidential business information, whether patentable or unpatentable and whether or not reduced to practice, know-how, inventions,
      manufacturing processes and techniques, research and development information, data and other information included in or supporting any Intellectual Property, (vii) financial, marketing and business data, pricing and cost information, business,
      finance and marketing plans, customer and prospective customer lists and information, and supplier and prospective supplier lists and information, (viii) other intellectual property or similar proprietary rights, (ix) copies and tangible embodiments
      of any of the foregoing (in whatever form or medium) and (x) any and all improvements to any of the foregoing.

     

    “Intercompany Subordination Agreement” means a subordination agreement to be executed and delivered by the Borrower and each of its Subsidiaries, pursuant to which all obligations in respect
      of any Indebtedness for borrowed money (or equivalent) owing between or among any party to such subordination agreement shall be subordinated to the prior Payment in Full of all Obligations, such agreement to be substantially in the form of Exhibit

        F hereto or such other form reasonably acceptable to the Agent.

     

    
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    “Interest Payment Date” means the last day of an Interest Period; provided, however that the first such day shall be April 30, 2022.

     

    “Interest Period” means, as to any Loans, the period commencing on the date of such Loan and ending on the numerically corresponding day in the calendar month that is one or three months
      thereafter (in each case, subject to the availability thereof), as specified in the applicable Loan Request; 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, (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, (iii) no Interest Period
      shall extend beyond the Maturity Date and (iv) no tenor that has been removed from this definition pursuant to Section 2.5(d) shall be available for specification in such Borrowing Request.  For purposes hereof, the date of a Loan initially
      shall be the date on which such Loan is made and thereafter shall be the effective date of the most recent conversion or continuation of such Loan.

     

    “Investment” means, relative to any Person, (i) any loan, advance or extension of credit made by such Person to any other Person, including the purchase by such Person of any bonds, notes,
      debentures or other debt securities of any other Person, (ii) Contingent Liabilities in favor of any other Person and (iii) any Capital Securities held by such Person in any other Person.  The amount of any Investment shall be the original principal
      or capital amount thereof less all returns of principal or equity thereon and shall, if made by the transfer or exchange of property other than cash, be deemed to have been made in an original principal or capital amount equal to the fair market
      value of such property at the time of such Investment.

     

    “Key Permits” means all material Permits relating to the Products (including all Regulatory Authorizations).  As of the Closing Date, the Key Permits are as set forth on Schedule 1.1.

     

    “Landlord Consent” has the meaning set forth in the Security Agreement.

     

    “Law” means, collectively, all international, foreign, federal, state and local laws (including common law), statutes, treaties, rules, legally enforceable guidelines, regulations, ordinances,
      codes and administrative or judicial precedents or authorities and executive orders, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation or administration thereof, and all
      applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority.

     

    “Leasehold Mortgage” means each mortgage, deed of trust or other agreement which conveys or evidences a Lien in favor of the Agent, for the benefit of the
        Secured Parties, on real property leased by a Credit Party, including any amendment, restatement, modification or supplement thereto.

     

    “Lender” has the meaning specified in the preamble.

     

    “Lien” means any security interest, mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or otherwise), charge against or interest in property, or
      other priority or preferential arrangement of any kind or nature whatsoever, to secure payment of a debt or performance of an obligation.

     

    “Liquidity” means, at any time, unrestricted, unencumbered cash and Cash Equivalent Investments in one or more Controlled Accounts that is free and clear of all Liens, other than Liens granted
      under the Loan Documents in favor of the Agent, for the benefit of the Secured Parties.

     

    
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    “Loans” means, collectively, the Closing Date Loan and the Delayed Draw Loan.

     

    “Loan Documents” means, collectively, this Agreement (as subsequently amended or otherwise modified), the Notes, the Fee Letter, the Security Agreement, any Mortgages, any Leasehold Mortgages,
      the Intercompany Subordination Agreement, the Patent Security Agreement, the Trademark Security Agreement, any Controlled Account Agreement and each other agreement pursuant to which any of the Agent or any of the other Secured Parties is granted a
      Lien to secure the Obligations, and each other agreement, certificate, document or instrument delivered in connection with any Loan Document, whether or not specifically mentioned herein or therein.

     

    “Loan Request” means a Loan request and certificate duly executed by an Authorized Officer of the Borrower substantially in the form of Exhibit B hereto.

     

    “Majority Lenders” means, at any time, Lenders holding more than 50% of the then-aggregate unpaid principal amount of the Loans.

     

    “Marietta Facility” has the meaning specified in Section 7.13(h)(i).

     

    “Marietta Landlord” has the meaning specified in Section 7.13(h)(i).

     

    “Material Adverse Effect” means a material adverse effect on (i) the business, condition (financial or otherwise), operations, performance or properties of any Credit Party and each of its
      Subsidiaries, taken as a whole, (ii) the rights and remedies of the Agent or any Lender under any Loan Document, or (iii) the ability of any Credit Party or any of its Subsidiaries to perform their respective Obligations under any Loan Document.

     

    “Material Agreements” means (i) each contract or agreement to which a Credit Party or any of its Subsidiaries is a party involving aggregate payments of more than $2,500,000 per Fiscal Year,
      whether such payments are being made by a Credit Party or any of its Subsidiaries to a Person that is not an Affiliate, or by any such Person to a Credit Party or any of its Subsidiaries; and (ii) all other contracts or agreements, individually or in
      the aggregate, that if breached or terminated could reasonably be expected to result in a Material Adverse Effect, including, in each case, all amendments, supplements, waivers and modifications thereto.

     

    “Material Intellectual Property” means any Intellectual Property owned by, licensed to or otherwise held by any Credit Party or any of its Subsidiaries, whether currently owned or licensed, or
      acquired, developed or otherwise licensed or obtained after the date hereof (i) the loss of which could reasonably be expected to result in a Material Adverse Effect or (ii) that has a fair market value in excess of $500,000.

     

    “Maturity Date” means March 23, 2027.

     

    “Moody’s” means Moody’s Investors Service, Inc. and its successors.

     

    “Mortgage” means each mortgage, deed of trust or other agreement which conveys or evidences a Lien in favor of the Agent, for the benefit of the Secured
        Parties, on real property owned by a Credit Party, including any amendment, restatement, modification or supplement thereto.

     

    “Mortgage Instruments” means such title reports, title insurance, flood certifications and
        flood insurance, opinions of counsel, surveys, appraisals and environmental reports and other similar information and related certifications as are reasonably requested by, and in form and substance reasonably acceptable to, the Agent from time to
        time.

     

    
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    “Multiemployer Plan” means a “multiemployer plan” (as defined in Section 4001(a)(3) of ERISA) that is subject to Title IV of ERISA contributed to for any employees of a Credit Party, any of
      its Subsidiaries or any ERISA Affiliate.

     

    “Net Cash Proceeds” means when used in respect of (i) any Disposition or (ii) the receipt of any proceeds in connection with any Event of Loss suffered, in each case, by a Credit Party or any
      of its Subsidiaries, the gross proceeds in cash or Cash Equivalent Investments received by such Person (excluding, in connection with any Disposition, any portion of such proceeds deposited in an escrow account pursuant to the documentation related
      thereto but including such proceeds subsequently received in respect of noncash consideration initially received and amounts initially placed in escrow that subsequently become available) from such Disposition or Event of Loss, minus, without duplication, (a) all direct costs and expenses incurred or to be incurred (including sales, commissions and legal, accounting and investment banking fees, commissions and expenses), (b) all
      federal, state, local and foreign Taxes assessed or to be assessed (if any), in connection therewith, (c) in connection with any Disposition, reserves for purchase price adjustments and retained liabilities reasonably expected to be payable by the
      Borrower or any Subsidiary in connection therewith, to the extent such reserves have been established in accordance with GAAP; provided that upon the final determination of the amount paid in respect of such purchase price adjustments and
      retained liabilities, if the actual amount of purchase price adjustments and retained liabilities paid is less than such reserves, the difference shall, at such time, constitute Net Cash Proceeds, and (d) with respect to any Disposition or Event of
      Loss, all money actually applied within three hundred sixty (360) days (or committed to be applied within three hundred sixty (360) days and actually applied within one hundred eighty (180) days following such commitment) following the receipt of any
      proceeds in connection with such Disposition or Event of Loss, to replace the assets in question, to acquire fixed or capital assets useful in the operation of the Borrower’s business or to repair or reconstruct damaged property or property affected
      by loss, destruction, damage, condemnation, confiscation, requisition, seizure or taking.

     

    “Net Income” means, for any applicable Fiscal Period for any Person determined on a consolidated basis for such Person and its Subsidiaries in accordance with GAAP, the aggregate of all
      amounts (exclusive of all amounts in respect of any extraordinary gains but including extraordinary losses) which would be included as net income on the consolidated financial statements of such Person and its Subsidiaries for such Fiscal Period.

     

    “Net Sales” means Consolidated Total Revenue minus sales of source plasma minus Net Sales Deductions.

     

    “Net Sales Deductions” means, with respect to Consolidated Total Revenue of any Product for any Fiscal Period, the sum of all applicable (i) billbacks, chargebacks, customer adjustments
      (including payment discounts and customer pricing), performance allowances, promotional monies, trade, quantity, cash discounts, volume incentives, off invoice discounts, government and other third-party rebates, and product service fees with respect
      to such Product, (ii) allowances or credits, including those in respect of rejection, defects, damaged item credits, sales returns, retroactive price reductions, shipping charges, shipment shortages, shelf-stock adjustments, invoice errors, and
      replacement costs with respect to such Product and (iii) such other discounts and other deductions customary in the trade, in each case attributable to the sale of such Product in such Fiscal Period as accrued (or as would be accrued) on financial
      statements prepared in accordance with GAAP.

     

    “Note” means a promissory note of the Borrower payable to a Lender (as such promissory note may be amended, endorsed or otherwise modified from time to time), evidencing the aggregate
      Indebtedness of the Borrower to such Lender resulting from the outstanding amount of the Loans, and also means all other promissory notes accepted from time to time in substitution therefor or renewal thereof.

     

    
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    “Obligations” means all obligations (monetary or otherwise, whether absolute or contingent, matured or unmatured) of any Credit Party or any of its Subsidiaries arising under or in connection
      with a Loan Document and the principal of and premium, if any, and interest (including interest accruing during the pendency of any proceeding of the type described in Section 9.1(h), whether or not allowed in such proceeding) on the Loans.

     

    “OFAC” means the Office of Foreign Assets Control of the United States Department of the Treasury.

     

    “Organic Document” means, relative to any Credit Party or any of its Subsidiaries, its certificate of incorporation, by‐laws, certificate of partnership, partnership agreement, certificate of
      formation, limited liability agreement, operating agreement and all stockholder agreements, voting trusts and similar arrangements applicable to such Credit Party’s or any of its Subsidiaries’ Capital Securities.

     

    “Other Administrative Proceeding” means any administrative proceeding relating to a dispute involving a patent office or other relevant intellectual property registry which relates to
      validity, revocation, ownership or enforceability of the relevant Intellectual Property.

     

    “Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient and the jurisdiction imposing such Tax (other
      than 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 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 Other Connection Taxes imposed with respect to an assignment.

     

    “Participant Register” has the meaning specified in Section 11.11(b).

     

    “Patent” means any patent, patent application and invention disclosure, including any divisions, continuations, continuations in-part, provisionals, continued prosecution applications,
      substitutions, reissues, reexaminations, renewals, extensions, restorations, supplemental protection certificates and other additions in connection therewith, whether in or related to the United States or any foreign country or other jurisdiction.

     

    “Patent Security Agreement” means any Patent Security Agreement executed and delivered by any Credit Party and/or any of its Subsidiaries, as applicable, substantially in the form of Exhibit C
      to the Security Agreement, as amended or otherwise modified from time to time.

     

    “Patriot Act” means the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)).

     

    “Payment in Full” means the entire principal amount of the Loans, interest thereon and all other Obligations, including all applicable Early Prepayment Fees and Exit Fees, shall have been
      indefeasibly paid in full in cash (other than inchoate indemnification, expense reimbursement obligations and other contingent obligations for which no claim has been asserted).

     

    
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    “PBGC” means the Pension Benefit Guaranty Corporation, or any entity succeeding to all or any of its functions under ERISA.

     

    “Pension Plan” means a “pension plan”, as such term is defined in Section 3(2) of ERISA, which is subject to Title IV of ERISA (other than a Multiemployer Plan), to which a Credit Party, any
      of its Subsidiaries or any ERISA Affiliate sponsors, contributes to, or provides benefits under, or has any obligation to contribute or provide benefits under, and to which a Credit Party, any of its Subsidiaries or any ERISA Affiliate may have
      liability, including any liability by reason of having been a substantial employer under Section 4063 of ERISA at any time during the preceding five years, or by reason of being deemed to be a contributing sponsor under Section 4069 of ERISA.

     

    “Perfection Certificate” means a certificate duly completed and executed by an Authorized Officer of the Borrower, substantially in the form of Exhibit C hereto, together with such
      changes thereto as the Agent or the Majority Lenders may from time to time request.

     

    “Periodic Term SOFR Determination Date” has the meaning specified in the definition of “Term SOFR”.

     

    “Permits” means all permits, licenses, registrations, certificates, orders, approvals, authorizations, consents, waivers, franchises, variances and similar rights issued by or obtained from
      any Governmental Authority, including, without limitation, those relating to Environmental Laws and Healthcare Laws.

     

    “Permitted Acquisition” means any acquisition by the Borrower or any of its Wholly Owned Subsidiary Guarantors, whether by purchase, merger or otherwise, of all or substantially all of the
      assets of, all of the Capital Securities of, or a business line or unit or a division of, any Person; provided that:

     

    (a)        immediately prior to, and after giving effect thereto, no Default or Event of Default shall have occurred and be continuing or could reasonably be expected to result therefrom;

     

    (b)        all transactions in connection with such acquisition shall have been consummated, in all material respects, in accordance with all applicable Laws and in conformity with all applicable
      approvals from any Governmental Authorities;

     

    (c)          in the case of an acquisition of all of the Capital Securities of such Person, all of such Capital Securities (except for any such securities in the nature of directors’ qualifying
      shares required pursuant to any law) acquired, or otherwise issued by such Person or any newly formed Subsidiary of the Borrower in connection with such acquisition, shall be owned one-hundred percent (100%) by a Credit Party, and the Borrower shall
      have taken, or caused to be taken, within thirty (30) days of the date such Person becomes a Subsidiary of the Borrower, each of the actions set forth in Section 7.8(b), if applicable;

     

    (d)          on a pro forma basis after giving effect to such acquisition, the Borrower and its Subsidiaries shall be (i) in compliance with the most recent financial covenant tests set forth in each
      of Section 8.4(a) and 8.4(b) and (ii) projected by the Company (in good faith and based on reasonable assumptions) to be in compliance with the financial covenants set forth in each of Section 8.4(a) and 8.4(b) on each
      date in the twelve (12) months following such acquisition;

     

    (e)          to the extent that the purchase price for any such acquisition is paid in cash, the amount thereof, when taken together with the purchase price paid in cash for all other acquisitions
      consummated or effected since the Closing Date, does not exceed $10,000,000 in the aggregate;

     

    
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    (f)          to the extent that the purchase price for any such acquisition is paid in Capital Securities, all such Capital Securities shall be Qualified Capital Securities of the Borrower;

     

    (g)          promptly upon request by the Agent in the case of any such acquisition that has a purchase price in excess of $10,000,000, the Borrower shall provide (i) a copy of the draft purchase
      agreement related to the proposed acquisition (and any related documents requested by the Agent), (ii) any available quarterly and annual financial statements of the Person whose Capital Securities or assets are being acquired for the twelve (12)
      month period ending forty-five (45) days immediately prior to such acquisition, including any audited financial statements that are available and (iii) any other information reasonably requested by the Agent and available to the Credit Parties;

     

    (h)        the Borrower shall have provided the Agent with at least fifteen (15) Business Days’ prior written notice of any such acquisition, together with summaries, prepared in reasonable detail,
      of all due diligence conducted by or on behalf of the Borrower or the applicable Subsidiary, as applicable, prior to such acquisition, and at least five (5) Business Days prior to the proposed date of such acquisition, the Agent shall have received a
      certificate of an Authorized Officer of the Borrower (prepared in reasonable detail), certifying that such acquisition complies with the requirements of this definition, and which certificate shall include a summary (prepared in reasonable detail),
      certifying as to any contingent liabilities and prospective research and development costs associated with the Person, business or assets being acquired;

     

    (i)       no Credit Party or any Subsidiary thereof shall, in connection with any such acquisition, assume or remain liable with respect to (i) any Indebtedness of the related seller or the business,
      Person or properties acquired, except to the extent permitted pursuant to Section 8.2, (ii) any Lien on any business, Person or assets acquired, except to the extent permitted pursuant to Section 8.2, (iii) any other liability
      (including Tax, ERISA and Environmental Liabilities), except (with respect to liabilities under this clause (iii) to the extent the assumption of any such liability could not reasonably be expected to result in a Material Adverse Effect. Any
      other such Indebtedness, liabilities or Liens not permitted to be assumed, continued or otherwise supported by any Credit Party or Subsidiary thereof hereunder shall be paid in full or released as to the business, Persons or properties being so
      acquired on or before the consummation of such acquisition; and

     

    (j)         the fair market value of such acquisition, when taken together with the fair market value for all other acquisitions consummated or effected since the Closing Date (including in all cases
      the amount of any deferred consideration and earn out or similar payments), does not exceed $20,000,000 in the aggregate.

     

    “Permitted Disposition” means any of the following: (i) Dispositions of inventory (which shall include, but not be limited to, plasma or plasma-derived product(s)) in the ordinary course of
      business, (ii) Dispositions of damaged or worn out property in the ordinary course of business, (iii) licenses, sublicenses or similar agreements that are permitted pursuant to Section 8.21, (iv) any issuance, offer, sale, transfer or other
      Disposition of Qualified Capital Securities of the Borrower, (v) the abandonment or other Disposition of a lease or sublease of real property or personal property that is, in the reasonable business judgment of Borrower, not used or useful or is no
      longer economically necessary in the conduct of the business of the Borrower or any of its Subsidiaries, not to exceed $2,000,000 in fair market value in the aggregate since the Closing Date; provided that in no event shall any Disposition of
      the Boca Facility be permitted by this clause (v) or (vi) other Dispositions that (x) do not include the Boca Facility, Products, Material Intellectual Property, Capital Securities with respect to Subsidiaries or acquired entities, businesses
      and real property and (y) when taken together with all other Dispositions (A) made during the preceding period of 12 consecutive months pursuant to this clause (vi), do not exceed $1,000,000 in the aggregate and (B) made since the Closing
      Date do not exceed $5,000,000 in the aggregate.

     

    
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    “Permitted Indebtedness” has the meaning specified in Section 8.2.

     

    “Permitted Investments” has the meaning specified in Section 8.5.

     

    “Permitted Liens” has the meaning specified in Section 8.3.

     

    “Person” means any natural person, corporation, limited liability company, partnership, joint venture, association, trust or unincorporated organization, Governmental Authority or any other
      legal entity, whether acting in an individual, fiduciary or other capacity.

     

    “Personal Data” means all data relating to one or more individual(s) that is personally identifying (i.e., data that identifies an individual or, in combination with any other information or
      data available to the Borrower or its Subsidiaries, is capable of identifying an individual) or capable of identifying a specific device or non-personally identifying, including, without limitation, aggregate or de-identified data and data collected
      automatically, including data collected through a mobile or other electronic device.

     

    “PIK Interest” has the meaning specified in Section 3.12.

     

    “Plan” means any employee benefit plan as defined in Section 3(3) of ERISA (other than a Multiemployer Plan) maintained currently, in the future or within the last six years by any Borrower,
      or to which any Credit Party is obligated or becomes obligated to contribute.

     

    “Prime Rate” means the rate of interest per annum last quoted by The Wall Street Journal as the “Prime Rate” in the U.S. or, if The Wall Street Journal ceases to quote such rate, the highest
      per annum interest rate published by the Federal Reserve Board in Federal Reserve Statistical Release H.15 (519) (Selected Interest Rates) as the “bank prime loan” rate or, if such rate is no longer quoted therein, any similar rate quoted therein (as
      determined by the Agent) or any similar release by the Federal Reserve Board (as determined by the Agent). Any change in the Prime Rate shall take effect at the opening of business on the day such change is publicly announced or quoted as being
      effective.

     

    “Privacy and Data Security Policies” has the meaning specified in Section 6.16(d).

     

    “Privacy Agreements” has the meaning specified in Section 6.16(a).

     

    “Pro Rata Share” means, with respect to any Lender, the percentage (expressed as a decimal and carried out to the ninth decimal place) obtained by dividing (x) the aggregate outstanding
      principal amount of Loans made hereunder by such Lender, by (y) the aggregate outstanding principal amount of all Loans made hereunder by all Lenders, in each case subject to adjustment as provided in Section 4.7. The Pro Rata Share of each
      Lender in respect of the Loans is set forth opposite the name of such Lender on Schedule 2 under the caption “Pro Rata Shares” or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable.

     

    “Product” means any current or future product developed, manufactured, licensed, marketed, sold, distributed, or otherwise commercialized by any Credit Party, including any such product in
      development or which may be developed.

     

    “Product Agreement” means each agreement, license, document, instrument, interest (equity or otherwise) or the like under which one or more Persons grants or receives any right, title or
      interest with respect to any Product Development and Commercialization Activities in respect of one or more Products specified therein, or receives or is granted the right to exclude any third parties from engaging in any Product Development and
      Commercialization Activities with respect thereto, including each contract or agreement with suppliers, manufacturers, distributors, clinical research organizations, wholesalers, pharmacies or with any other Person related to any such entity.

     

    
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    “Product Development and Commercialization Activities” means, with respect to any Product, any combination of research, development, manufacture, importation, exportation, use, sale, storage,
      design, labeling, marketing, promotion, supply, procurement or collection of supply or raw materials, distribution, testing, packaging, purchasing or other commercialization activities, receipt of payment in respect of any of the foregoing, or like
      activities the purpose of which is to commercially exploit such Product.

     

    “Prohibited Payment” means any bribe, rebate, payoff, influence payment, kickback or other payment or gift of money or anything of value (including meals or entertainment) to any officer,
      employee or ceremonial office holder of any government or instrumentality thereof, political party or supra-national organization (such as the United Nations), any political candidate, any royal family member or any other person who is connected or
      associated personally with any of the foregoing that is prohibited under any applicable Law or regulation or otherwise for the purpose of influencing any act or decision of such payee in his official capacity, inducing such payee to do or omit to do
      any act in violation of his lawful duty, securing any improper advantage or inducing such payee to use his influence with a government or instrumentality thereof to affect or influence any act or decision of such government or instrumentality.

     

    “PZR” has the meaning specified in Section 7.13(d).

     

    “Qualified Capital Securities” means, with respect to any Person, any Capital Security of such Person that is not a Disqualified Capital
      Security.

     

    “Recipient” means the Agent or any Lender, as applicable.

     

    “Registered Organization” means any “registered organization” as defined in the Code with such additions to such term as may hereafter be made.

     

    “Regulatory Authority” means any Governmental Authority, including the FDA and foreign equivalents thereof if and as applicable, that is concerned with or has regulatory oversight with respect
      to the use, control, safety, efficacy, reliability, manufacturing, labeling, packaging, handling, storage, marketing, advertising, promotion, distribution, sale or other Product Development and Commercialization Activities relating to any Product of
      any Credit Party or any of its Subsidiaries.

     

    “Regulatory Authorizations” means any and all clearances, approvals, licenses, registrations, permits and other forms of authorization of any Governmental Authority necessary for Product
      Development and Commercialization Activities in any country or jurisdiction, forming the basis for distribution of Products (including without limitation, approvals for plasma-derived products, and where applicable supplements and amendments,
      governmental price and reimbursement approvals and approvals of applications for regulatory exclusivity).

     

    “Related Party” means, with respect to any Person, such Person’s Affiliates and the partners, directors, officers, employees, agents, trustees, administrators, managers, advisors and
      representatives of such Person and such Person’s Affiliate.

     

    “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, surface
      water or groundwater, in each case, in the United States.

     

    
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    “Relevant Governmental Body” means the Federal Reserve Board or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Federal Reserve Board or the Federal
      Reserve Bank of New York, or any successor thereto.

     

    “Resignation Effective Date” has the meaning specified in Section 10.6(a).

     

    “Resolution Authority” means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.

     

    “Restricted Payment” means (i) the declaration or payment of any dividend (other than dividends payable solely in Capital Securities of a Credit Party or any of its Subsidiaries) on, or the
      making of any payment or distribution on account of, or setting apart assets for a sinking or other analogous fund for the purchase, redemption, defeasance, retirement or other acquisition of, any class of Capital Securities of a Credit Party or any
      of its Subsidiaries or any warrants, options or other right or obligation to purchase or acquire any such Capital Securities, whether now or hereafter outstanding or (ii) the making of any other distribution in respect of such Capital Securities, in
      each case either directly or indirectly, whether in cash, property or obligations of a Credit Party or any of its Subsidiaries or otherwise.

     

    “S&P” means Standard & Poor’s Financial Services LLC, a subsidiary of S&P Global Inc., and its successors.

     

    “Sanction” means any international economic sanction administered or enforced by the United States Government (including, without limitation, OFAC), the United Nations Security Council, the
      European Union or its Member States, Her Majesty’s Treasury or other relevant sanctions authority.

     

    “Sanctioned Person” means any Person that is a target of Sanctions, including without limitation, a Person that is (i) listed on OFAC’s Specially Designated Nationals and Blocked Persons List,
      (ii) listed on OFAC’s Consolidated Non-SDN List, (iii) a legal entity that is deemed by OFAC to be a Sanctions target based on the ownership of such legal entity by Sanctioned Peron(s), or (iv) a Person that is a Sanctions target pursuant to any
      list-based, territorial or country-based Sanctions program of a Governmental Authority.

     

    “SEC” means the Securities and Exchange Commission.

     

    “Secured Parties” means, collectively, the Agent and each of the Lenders.

     

    “Security Agreement” means the Security Agreement, dated as of the date hereof, by and among the Borrower, the Subsidiary Guarantors and the Agent, as amended or otherwise modified from time
      to time.

     

    “SNDA” has the meaning specified in Section 7.13(g).

     

    “SOFR” means a rate equal to the secured overnight financing rate as administered by the SOFR Administrator.

     

    “SOFR Administrator” means the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing rate).

     

    “SOFR Loan” means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “ABR”.

     

    
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    “Solvent” means, (x) with respect to the Credit Parties and their Subsidiaries on a particular date, that on such date (i) the fair value of the property of the Credit Parties and their
      Subsidiaries on a consolidated basis is greater than the total amount of liabilities, including Contingent Liabilities, of the Credit Parties and their Subsidiaries on a consolidated basis, (ii) the present fair saleable value of the assets of the
      Credit Parties and their Subsidiaries on a consolidated basis is not less than the amount that will be required to pay the probable liability of the Credit Parties and their Subsidiaries on a consolidated basis on its debts as they become absolute
      and matured, (iii) the Borrower does not intend to, and does not believe that it or its Subsidiaries will, incur debts or liabilities beyond the ability of the Credit Parties and their Subsidiaries to pay as such debts and liabilities mature, (iv)
      the Credit Parties and their Subsidiaries on a consolidated basis are not engaged in business or a transaction, and the Credit Parties on a consolidated basis are not about to engage in a business or a transaction, for which the property of the
      Credit Parties and their Subsidiaries on a consolidated basis would constitute an unreasonably small capital and (v) the Credit Parties and their Subsidiaries have not executed this Agreement or any other Loan Document or made any transfer or
      incurred any obligations hereunder, with actual intent to hinder, delay or defraud either present or future creditors; and (y) with respect to the Borrower on a particular date, that on such date (i) the fair value of the property of the Borrower is
      greater than the total amount of liabilities, including Contingent Liabilities, of the Borrower, (ii) the present fair saleable value of the assets of the Borrower is not less than the amount that will be required to pay the probable liability of the
      Borrower on its debts as they become absolute and matured, (iii) the Borrower does not intend to incur debts or liabilities beyond the ability of the Borrower to pay as such debts and liabilities mature, (iv) the Borrower is not engaged in business
      or a transaction, and the Borrower is not about to engage in a business or a transaction, for which the property of the Borrower would constitute an unreasonably small capital and (v) the Borrower have not executed this Agreement or any other Loan
      Document or made any transfer or incurred any obligations hereunder, with actual intent to hinder, delay or defraud either present or future creditors.  The amount of Contingent Liabilities at any time shall be computed as the amount that, in light
      of all the facts and circumstances existing at such time, can reasonably be expected to become an actual or matured liability.

     

    “Standard Bodies” means any of the organizations that create, sponsor and maintain safety, quality or other standards, including ISO, ANSI, CEN, SCC and the like.

     

    “Stewart” has the meaning specified in Section 7.13(a).

     

    “Subsidiary” means, with respect to any Person, any other Person of which more than 50% of the outstanding Voting Securities (irrespective of whether at the time Capital Securities of any
      other class or classes of such other Person shall or might have voting power upon the occurrence of any contingency) or the issued Capital Securities of such other Person is at the time directly or indirectly owned or Controlled by such Person, by
      such Person and one or more other Subsidiaries of such Person, or by one or more other Subsidiaries of such Person.  Unless the context otherwise specifically requires, the term “Subsidiary” shall be a reference to a Subsidiary of the Borrower,
      whether direct or indirect.

     

    “Subsidiary Guarantor” means initially as of the Closing Date, each Subsidiary of the Borrower identified under the caption “SUBSIDIARY GUARANTORS” on the signature pages hereto and,
      thereafter, each Subsidiary of the Borrower that becomes a “Subsidiary Guarantor” after the Closing Date pursuant to Section 7.8.

     

    “Survey” has the meaning specified in Section 7.13(c).

     

    “Synthetic Lease” means, as applied to any Person, any lease (including leases that may be terminated by the lessee at any time) of any property (whether real, personal or mixed) (i) that is
      not a capital lease in accordance with GAAP and (ii) in respect of which the lessee retains or obtains ownership of the property so leased for federal income tax purposes, other than any such lease under which that Person is the lessor.

     

    
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    “Systems” means the computers, servers, devices, networks, software, and systems used in connection with the operation of the business of the Borrower or any of its Subsidiaries.

     

    “Taxes” means all present or 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.

     

    “Term SOFR” means,

     

    (a)          for any calculation with respect to a SOFR Loan, the Term SOFR Reference Rate for a tenor comparable to the applicable Interest Period on the day (such day, the “Periodic Term SOFR
        Determination Day”) that is two (2) U.S. Government Securities Business Days prior to the first day of such Interest Period, as such rate is published by the Term SOFR Administrator; provided, however, that if as of 5:00 p.m. (New York
      City time) on any Periodic Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not
      occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was
      published by the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more than three (3) U.S. Government Securities Business Days prior to such Periodic Term SOFR Determination Day, and

     

    (b)        for any calculation with respect to an ABR Loan on any day, the Term SOFR Reference Rate for a tenor of one month on the day (such day, the “ABR Term SOFR Determination Day”) that
      is two (2) U.S. Government Securities Business Days prior to such day, as such rate is published by the Term SOFR Administrator; provided, however, that if as of 5:00 p.m. (New York City time) on any ABR Term SOFR Determination Day the Term SOFR
      Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such
      tenor as published by the Term SOFR Administrator on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as such first preceding U.S.
      Government Securities Business Day is not more than three (3) U.S. Government Securities Business Days prior to such ABR SOFR Determination Day;

     

    provided, further, that if Term SOFR determined as provided above (including pursuant to the proviso under clause (a)
        or clause (b) above) shall ever be less than the Floor, then Term SOFR shall be deemed to be the Floor.

     

    “Term SOFR Adjustment” means with respect to an Available Tenor of (a) one-month’s duration, 0.10%, and (b) three-month’s duration, 0.2616%.

     

    “Term SOFR Administrator” means CME Group Benchmark Administration Limited (CBA) (or a successor administrator of the Term SOFR Reference Rate selected by the Agent in its reasonable
      discretion).

     

    “Term SOFR Reference Rate” means the forward-looking term rate based on SOFR.

     

    “Termination Date” means the date on which Payment in Full occurs.

     

    
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    “Trademark” means any trademark, service mark, trade name, logo, symbol, trade dress, domain name, rights in social media accounts, corporate name and other indicator of source or origin, and
      all applications and registrations therefor, together with all of the goodwill associated therewith.

     

    “Trademark Security Agreement” means any Trademark Security Agreement executed and delivered by any Credit Party and/or any of its Subsidiaries, as applicable, substantially in the form of
      Exhibit D to the Security Agreement, as amended or otherwise modified from time to time.

     

    “Trade Secrets” shall mean trade secrets and other confidential information data and databases, in each case that derive economic value from not being generally known by the public and not
      being readily ascertainable by other Persons, and all claims and rights related to any of the foregoing.

     

    “Type”, when used in reference to any Loan, refers to whether the rate of interest on such Loan is determined by reference to Adjusted Term SOFR or ABR.

     

    “UCC” means the Uniform Commercial Code as in effect from time to time in the State of New York; provided that, if, with respect to any financing statement or by reason of any
      provisions of law, the perfection or the effect of perfection or non‐perfection of the security interests granted to the Agent, on behalf of the Secured Parties, pursuant to the applicable Loan Document is governed by the Uniform Commercial Code as
      in effect in a jurisdiction of the United States other than New York, then “UCC” means the Uniform Commercial Code as in effect from time to time in such other jurisdiction for purposes of the provisions of each Loan Document and any financing
      statement relating to such perfection or effect of perfection or non‐perfection.

     

    “UK Financial Institution” means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation
      Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain
      affiliates of such credit institutions or investment firms.

     

    “UK Resolution Authority” means the Bank of England or any other public administrative authority having responsibility for the resolution of any UK Financial Institution.

     

    “United States” or “U.S.” means the United States of America, its fifty states and the District of Columbia.

     

    “U.S. Government Securities Business Day” means any day except for (a) a Saturday, (b) a Sunday or (c) a day on which the Securities Industry and Financial Markets Association recommends that
      the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities.

     

    “U.S. Person” means any Person that is a “United States Person” as defined in Section 7701(a)(30) of the Code.

     

    “Voting Securities” means, with respect to any Person, Capital Securities of any class or kind ordinarily having the power to vote for the election of directors, managers or other voting
      members of the governing body of such Person.

     

    “Warrants” means each certain Warrant to Purchase Common Stock issued by the Borrower on or before the Closing Date to the applicable Hayfin Equity Investors.

     

    
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    “Welfare Plan” means a “welfare plan”, as such term is defined in Section 3(1) of ERISA, which any Credit Party or any of its Subsidiaries sponsors, contributes to, or provides benefits under,
      or has any obligation to contribute or provide benefits under.

     

    “Wholly Owned Subsidiary” means any direct or indirect Subsidiary of the Borrower, all of the outstanding Capital Securities of which (other than any director’s qualifying shares or
      investments by foreign nationals mandated by applicable Laws) are owned directly or indirectly by the Borrower.

     

    “Withholding Agent” means the Credit Parties and the Agent.

     

    “Write-Down and Conversion Powers” means, (i) 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 and (ii) with respect to the United Kingdom,  any powers of the applicable Resolution Authority
      under the Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that liability into shares,
      securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers
      under that Bail-In Legislation that are related to or ancillary to any of those powers.

     

    SECTION 1.2     Interpretation.  For all purposes of this Agreement, except as otherwise expressly provided herein or unless the context otherwise requires,

     

    (a)          the terms defined in this Agreement include the plural as well as the singular and vice versa;

     

    (b)          words importing gender include all genders;

     

    (c)          any reference to a Section, Annex, Schedule or Exhibit refers to a Section of, or Annex, Schedule or Exhibit to, this Agreement;

     

    (d)       any reference to “this Agreement” refers to this Agreement, including all Annexes, Schedules and Exhibits hereto, and the words herein, hereof, hereto and hereunder and words of similar
      import refer to this Agreement and its Annexes, Schedules and Exhibits as a whole and not to any particular Section, Annex, Schedule, Exhibit or any other subdivision;

     

    (e)        references to days, months and years refer to calendar days, months and years, respectively;

     

    (f)          all references herein to “include” or “including” shall be deemed to be followed by the words “without limitation”;

     

    (g)          the word “from” when used in connection with a period of time means “from and including” and the word “until” means “to but not including”;

     

    (h)        the words “asset” and “property” shall be construed to have the same meaning and effect and to refer broadly to any and all assets and properties, whether tangible or intangible, real or
      personal, including cash, Capital Securities, rights under contractual obligations and permits and any right or interest in any such assets or property; and

     

    
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    (i)          the word “will” shall have the same meaning as the word “shall”.

     

    Unless otherwise expressly provided herein, references to organizational documents, agreements (including the Loan Documents) and other contractual instruments shall be deemed to include all subsequent amendments,
      restatements, extensions, supplements and other modifications thereto permitted by the Loan Documents.

     

    SECTION 1.3  Accounting and Financial Determinations.  Unless otherwise specified, all accounting terms used in each Loan Document shall be interpreted, and all accounting determinations and
      computations thereunder (including under Section 8.4 and any definitions used in such calculations) shall be made, in accordance with those generally accepted accounting principles (“GAAP”) applied in the preparation of the financial
      statements referred to in Section 5.1(d).  Unless otherwise expressly provided, all financial covenants and defined financial terms shall be computed on a consolidated basis for the Borrower and its Subsidiaries, in each case without
      duplication.  Notwithstanding any other provision contained herein, all terms of an accounting or  financial nature used herein shall be construed, and all computations of amounts and ratios  referred to herein, and the determination of Indebtedness
      hereunder, shall be made without giving effect to Financial Accounting Standards Board (FASB) Standard ASC 842 (Leases) (or any other applicable financial accounting standard having a similar result or effect) and related interpretations, in each
      case, to the extent any lease (or similar arrangement conveying the right to use) would be required to be treated as a capital lease thereunder where such lease (or similar arrangement) would have been treated as an operating lease under GAAP as in
      effect immediately prior to the effectiveness of the ASC 842.

     

    SECTION 1.4    Divisions.  For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different
      jurisdiction’s laws): (i) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent
      Person, and (ii) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Capital Securities at such time.

     

    SECTION 1.5     Rates.  The Agent does not warrant or accept responsibility for, and shall not have any liability with respect to (a) the continuation of, administration of, submission of,
      calculation of or any other matter related to ABR, the Term SOFR Reference Rate, Adjusted Term SOFR or Term SOFR, or any component definition thereof or rates referred to in the definition thereof, or any alternative, successor or replacement rate
      thereto (including any Benchmark Replacement), including whether the composition or characteristics of any such alternative, successor or replacement rate (including any Benchmark Replacement) will be similar to, or produce the same value or economic
      equivalence of, or have the same volume or liquidity as, ABR, the Term SOFR Reference Rate, Adjusted Term SOFR, Term SOFR or any other Benchmark prior to its discontinuance or unavailability, or (b) the effect, implementation or composition of any
      Conforming Changes.  The Agent and its affiliates or other related entities may engage in transactions that affect the calculation of ABR, the Term SOFR Reference Rate, Term SOFR, Adjusted Term SOFR, any alternative, successor or replacement rate
      (including any Benchmark Replacement) or any relevant adjustments thereto, in each case, in a manner adverse to the Borrower. The Agent may select information sources or services in its reasonable discretion to ascertain ABR, the Term SOFR Reference
      Rate, Term SOFR, Adjusted Term SOFR or any other Benchmark, in each case pursuant to the terms of this Agreement, and shall have no liability to the Borrower, any Lender or any other person or entity for damages of any kind, including direct or
      indirect, special, punitive, incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error or calculation of any such rate (or component thereof) provided by any
      such information source or service.

     

    
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    ARTICLE II

    THE LOANS

     

    SECTION 2.1     Commitments.

     

    (a)         On the terms and subject to the conditions of this Agreement, each of the Lenders agrees to make the Closing Date Loans to the Borrower on the Closing Date in an aggregate amount not to
      exceed the Closing Date Loan Commitment Amount. No amounts paid or prepaid with respect to the Closing Date Loans may be reborrowed. The Closing Date Loan Commitment Amount shall automatically and permanently be reduced to zero immediately after the
      making of the Closing Date Loans on the Closing Date.

     

    (b)         On the terms and subject to the conditions of this Agreement, each of the Lenders agrees to make the Delayed Draw Loan to the Borrower on the Delayed Draw Date in one drawing in an
      aggregate amount equal to the Delayed Draw Loan Commitment Amount. No amounts paid or prepaid with respect to the Delayed Draw Loan may be reborrowed. The Delayed Draw Loan Commitment Amount shall automatically and permanently be reduced to zero on
      the earlier to occur of the Delayed Draw Date and the Delayed Draw Commitment Expiration Date.

     

    SECTION 2.2     Borrowing Procedures.  Subject to the terms and conditions hereof, the Borrower may irrevocably request that the Loans be made by delivering to the Agent a Loan Request on or
      before 10:00 a.m. (London, England time) on a Business Day at least twelve (12) Business Days prior to the proposed Closing Date or proposed Delayed Draw Date, as applicable (or such shorter period as the Agent may agree in its sole discretion).

     

    SECTION 2.3    Funding.  After receipt of a Loan Request for a Loan pursuant to Section 2.2, each Lender shall, on the Closing Date or on the Delayed Draw Date, as applicable, and
      subject to the terms and conditions hereof (including the satisfaction of all conditions precedent set forth in Article V hereof), make the applicable Loans to the Borrower, in the amounts set forth opposite such Lender’s name on Schedule
        2, as applicable; provided that, at the request of the Borrower, the Agent shall cause the proceeds of the Loans to be disbursed, by wire transfer of immediately available funds, in the amount and to the accounts set forth on Schedule

        2.3.

     

    SECTION 2.4     Illegality. If any Lender determines that any law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for any Lender or its applicable
      lending office to make, maintain or fund Loans whose interest is determined by reference to SOFR, the Term SOFR Reference Rate, Adjusted Term SOFR or Term SOFR, or to determine or charge interest rates based upon SOFR, the Term SOFR Reference Rate,
      Adjusted Term SOFR or Term SOFR, then, upon notice thereof by such Lender to the Borrower (through the Agent), (a) any obligation of the Lenders to make SOFR Loans, and any right of the Borrower to continue SOFR Loans or to convert ABR Loans to SOFR
      Loans, shall be suspended, and (b) the interest rate on which ABR Loans shall, if necessary to avoid such illegality, be determined by the Agent without reference to clause (c) of the definition of “ABR”, in each case until such Lender
      notifies the Agent and the Borrower that the circumstances giving rise to such determination no longer exist. Upon receipt of such notice, (i) the Borrower shall, if necessary to avoid such illegality, upon demand from any Lender (with a copy to the
      Agent), prepay or, if applicable, convert all SOFR 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 Agent without reference to clause (c) of the
      definition of “ABR”), on the last day of the Interest Period therefor, if all affected Lenders may lawfully continue to maintain such SOFR Loans to such day, or immediately, if any Lender may not lawfully continue to maintain such SOFR Loans to such
      day, and (ii) if necessary to avoid such illegality, the Agent shall during the period of such suspension compute the ABR without reference to clause (c) of the definition of “ABR,” in each case until the Agent is advised in writing by each
      affected Lender that it is no longer illegal for such Lender to determine or charge interest rates based upon SOFR, the Term SOFR Reference Rate, Adjusted Term SOFR or Term SOFR. Upon any such prepayment or conversion, the Borrower shall also pay
      accrued interest on the amount so prepaid or converted, together with any additional amounts required pursuant to Section 4.2.

     

    
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    SECTION 2.5      Benchmark Replacement Setting.

     

    (a)          Benchmark Replacement.

     

    (i)          Notwithstanding anything to the contrary herein or in any other Loan Document, upon the occurrence of a Benchmark Transition Event, the Agent and the Borrower may amend this Agreement
      to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the Agent has posted
      such proposed amendment to all affected Lenders and the Borrower so long as the Agent has not received, by such time, written notice of objection to such amendment from Lenders comprising the Required Lenders. No replacement of a Benchmark with a
      Benchmark Replacement pursuant to this Section 2.5(a)(i) will occur prior to the applicable Benchmark Transition Start Date.

     

    (ii)        No swap agreement shall be deemed to be a “Loan Document” for purposes of this Section 2.5).

     

    (b)      Benchmark Replacement Conforming Changes.  In connection with the use, administration, adoption or implementation of a Benchmark Replacement, the Agent will have the right to make
      Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other
      party to this Agreement or any other Loan Document.

     

    (c)        Notices; Standards for Decisions and Determinations.  The Agent will promptly notify the Borrower and the Lenders of (i) the implementation of any Benchmark Replacement and (ii)
      the effectiveness of any Conforming Changes in connection with the use, administration, adoption or implementation of a Benchmark Replacement.  The Agent will promptly notify the Borrower of the removal or reinstatement of any tenor of a Benchmark
      pursuant to Section 2.5(d). Any determination, decision or election that may be made by the Agent or, if applicable, any Lender (or group of Lenders) pursuant to this Section 2.5, including any determination with respect to a tenor,
      rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error and may be made in its or
      their sole discretion and without consent from any other party to this Agreement or any other Loan Document, except, in each case, as expressly required pursuant to this Section 2.5.

     

    (d)          Unavailability of Tenor of Benchmark.  Notwithstanding anything to the contrary herein or in any other Loan Document, at any time (including in connection with the implementation
      of a Benchmark Replacement), (i) if the then-current Benchmark is a term rate (including the Term SOFR Reference Rate) and either (A) any tenor for such Benchmark is not displayed on a screen or other information service that publishes such rate from
      time to time as selected by the Agent in its reasonable discretion or (B) the administrator of such Benchmark or the regulatory supervisor for the administrator of such Benchmark has provided a public statement or publication of information
      announcing that any tenor for such Benchmark is not or will not be representative or in compliance with or aligned with the International Organization of Securities Commissions (IOSCO) Principles for Financial Benchmarks, then the Agent may modify
      the definition of “Interest Period” (or any similar or analogous definition) for any Benchmark settings at or after such time to remove such unavailable, non-representative, non-compliant or non-aligned tenor and (ii) if a tenor that was removed
      pursuant to clause (i) above either (A) is subsequently displayed on a screen or information service for a Benchmark (including a Benchmark Replacement) or (B) is not, or is no longer, subject to an announcement that it is not or will not be
      representative or in compliance with or aligned with the International Organization of Securities Com-missions (IOSCO) Principles for Financial Benchmarks for a Benchmark (including a Benchmark Replacement), then the Agent may modify the definition
      of “Interest Period” (or any similar or analogous definition) for all Benchmark settings at or after such time to reinstate such previously removed tenor.

     

    
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    (e)        Benchmark Unavailability Period.  Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a
      conversion to or continuation of SOFR Loans to be converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a conversion to ABR Loans. During
      a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of ABR based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in
      any determination of ABR.

     

    ARTICLE III

    REPAYMENTS, PREPAYMENTS, INTEREST AND FEES

     

    SECTION 3.1    Applicable Currency for Repayments and Prepayments; Pro Rata Application.  The Borrower agrees that the Loans, and any fees or interest accrued or accruing thereon, shall be
      repaid and prepaid solely in Dollars. Except as otherwise provided in this Agreement, each payment (including each repayment and prepayment) by the Borrower will be deemed to be made ratably in accordance with the Pro Rata Shares of the Lenders, and
      upon receipt of any such payment the Agent will promptly thereafter distribute like funds relating to any such payment to the Lenders in accordance with their Pro Rata Shares.

     

    SECTION 3.2   Repayments and Prepayments.  There will be no scheduled repayments of principal on the Loans prior to the Maturity Date.  On the Maturity Date, the Borrower shall repay
      the entire unpaid principal amount of the Loans in full in cash.  Prior thereto, payments and prepayments of the Loans shall be made as set forth below in this Section 3.2. Nothing in this Section 3.2 shall be deemed to (or be
      construed to) permit or authorize any transaction by any Credit Party that otherwise is prohibited or not specifically permitted by this Agreement or any other Loan Document. Unless otherwise expressly provided herein, all payments, repayments and
      prepayments described in this Section 3.2 shall be subject to Sections 3.10 and 3.11.

     

    (a)        Loans.  The Borrower may, upon five (5) Business Days’ prior written notice to the Agent, voluntarily prepay the outstanding principal amount of the Loans in whole or in part.

     

    (b)        Dispositions.  Upon any Disposition by a Credit Party or any of its Subsidiaries (other than a Permitted Disposition), made in any period of twelve (12) consecutive months that,
      when taken together with all other Dispositions made during such 12-month period, results in aggregate Net Cash Proceeds from such Dispositions that exceed $1,000,000 for such 12-month period, the Borrower shall, within five (5) Business Days of such
      Person’s receipt of such excess proceeds thereof, prepay the outstanding principal amount of the Loans in an amount equal to 100% of such excess Net Cash Proceeds.  The provisions of this clause shall not be deemed to be implied consent to any
      Disposition otherwise prohibited by the terms and conditions of this Agreement.

     

    
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    (c)        Events of Loss.  Upon the receipt by a Credit Party or any of its Subsidiaries of any Event of Loss, received in any period of 12 consecutive months, that when taken together with
      all other Events of Loss during such 12-month period, results in aggregate Net Cash Proceeds from such Events of Loss that exceed $1,000,000 for such 12-month period, the Borrower shall, within five (5) Business Days of such Person’s receipt of such
      excess proceeds thereof, prepay the outstanding principal amount of the Loans in an amount equal to 100% of such excess Net Cash Proceeds.

     

    (d)       Other Indebtedness.  Upon the issuance, sale or other incurrence of any debt securities or other Indebtedness by a Credit Party or any of its Subsidiaries (other than Permitted
      Indebtedness), the Borrower shall, within five (5) Business Days of such Person’s receipt of the proceeds thereof, prepay the outstanding principal amount of the Loans in an amount equal to 100% of the net cash proceeds therefrom.  The provisions of
      this clause shall not be deemed to be implied consent to any such issuance, sale or incurrence otherwise prohibited by the terms and conditions of this Agreement.

     

    (e)         Acceleration.  Immediately upon any acceleration of the applicable Maturity Date of the Loans pursuant to Section 9.2 or Section 9.3, the Borrower shall repay the
      Loans in full, unless, pursuant to Section 9.3, only a portion of the Loans are so accelerated (in which case the portion so accelerated shall be so repaid).

     

    (f)          Change in Control.  Immediately upon the occurrence of a Change in Control, the Borrower shall repay the Loans in full.

     

    (g)        Acquisitions.  Upon any acquisition by a Credit Party or any of its Subsidiaries, the Borrower shall, within three (3) Business Days of such Person’s receipt of any cash payments
      from vendor indemnities or report providers, prepay the outstanding principal amount of the Loans in an amount equal to 100% of such cash payments. The provisions of this clause shall not be deemed to be implied consent to any acquisition otherwise
      prohibited by the terms and conditions of this Agreement.

     

    SECTION 3.3    Application.  Proceeds of each prepayment or repayment of the Loans shall be applied as set forth in clause (b) of Section 4.4.

     

    SECTION 3.4    Interest Rate.  Subject to Section 3.5, (i) each ABR Loan shall bear interest at a rate per annum equal to the ABR plus the Applicable
      Margin and (ii) each SOFR Loan shall bear interest at a rate per annum equal to Adjusted Term SOFR for the Interest Period therefor plus the Applicable Margin.

     

    SECTION 3.5    Default Rate.  Upon the occurrence and during the continuance of an Event of Default, and continuing until such Event of Default is no longer continuing, upon written notice by
      the Agent (acting pursuant to the instruction of the Majority Lenders (in their sole discretion)), the Applicable Margin shall be increased by 3.00% per annum.

     

    SECTION 3.6    Payment Dates.  Subject to Section 3.12, interest accrued on the Loans shall be payable in cash, without duplication:

     

    (a)          on the applicable Maturity Date therefor;

     

    (b)       on the date of any payment or prepayment, in whole or in part, of principal outstanding on the Loans, on the principal amount so paid or prepaid;

     

    (c)       subject to Section 3.12, on the last day of each Interest Period for the Loans; provided, however that the first such day shall be April 30, 2022;

     

    
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    (d)         upon the occurrence and during the continuance of an Event of Default, subject to Section 3.5, on the last day of each calendar month, at the rate set forth in Section 3.5;
      and

     

    (e)         on that portion of the Loans that is accelerated pursuant to Section 9.2 or Section 9.3, immediately upon such acceleration.

     

    Interest accrued on the Loans or any other monetary Obligations after the date such amount is due and payable (whether on the applicable Maturity Date, upon acceleration or otherwise) shall be
      payable upon demand.

     

    SECTION 3.7     Interest Computation.  All interest hereunder shall be computed on the basis of a year of 360 days (or in the case of interest computed by reference to the ABR at times when
      the ABR is based on the Prime Rate, such interest 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). All interest hereunder on any Loan shall be computed on a daily basis based upon the outstanding principal amount of such Loan as of the applicable date of determination. The applicable ABR or Adjusted Term SOFR shall be determined by the
      Agent, and such determination shall be conclusive absent manifest error.

     

    SECTION 3.8     Term SOFR Conforming Changes.  In connection with the use or administration of Term SOFR, the Agent will have the right to make Conforming Changes from time to time and,
      notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan
      Document. The Agent will promptly notify the Borrower and the Lenders of the effectiveness of any Conforming Changes in connection with the use or administration of Term SOFR.

     

    SECTION 3.9     Fees.  The Credit Parties agree, jointly and severally, to pay to the Agent and the Lenders the fees set forth in the Fee Letter.

     

    SECTION 3.10  Early Prepayment Fees.  Unless otherwise expressly provided herein, all payments, repayments and prepayments described in Section 3.2 and made at any time prior to the
      third anniversary of the Closing Date (whether resulting from voluntary or involuntary prepayments or repayments, acceleration (including as a result of the occurrence of any event described in Section 9.1(h) or otherwise)), shall be subject
      to the payment of Early Prepayment Fees as described below in this Section 3.10. Until Payment in Full occurs, all such Early Prepayment Fees shall continue to be due and payable, including after the occurrence of any Default, acceleration,
      maturity or otherwise. If all or any portion of the outstanding Loans are repaid or prepaid for any reason on or prior to the third anniversary of the Closing Date, the Borrower shall pay the Early Prepayment Fee to the Agent at the time of such
      prepayment or repayment, together with any other fees payable hereunder.  Early Prepayment Fees shall be nonrefundable once paid.

     

    SECTION 3.11    Exit Fees.  If all or any portion of the outstanding Loans are repaid or prepaid for any reason, including pursuant to Section 3.2, including after the occurrence of
      any Default or Event of Default, acceleration, on the Maturity Date or otherwise, the Borrower shall pay the Exit Fee to the Agent at the time of such prepayment or repayment, together with any other fees payable hereunder.  Exit Fees shall be
      nonrefundable once paid.

     

    
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    SECTION 3.12   PIK Interest.  So long as no Default has occurred and is continuing, the Borrower will pay “in kind” a portion of the interest on the Loans for the Interest Period ending on
      each Interest Payment Date in an amount equal to two and one-half percent (2.5%) per annum (“PIK Interest”); provided that (a) by delivery of written notice to the Agent not less than five (5) Business Days prior to any Interest
      Payment Date, the Borrower may elect not to pay “in kind” all or a portion of the interest on the Loans for the Interest Period ending on such Interest Payment Date and subsequent Interest Payment Dates in an amount up to the PIK Interest and (b) if
      a Default has occurred and is continuing, Borrower will not be permitted to pay any PIK Interest. Such election shall only relate to interest that is (x) due and payable on such Interest Payment Dates specified in such written notice and (y) accrued
      during the Interest Period ending on such Interest Payment Dates. Any PIK Interest shall be capitalized and added to the outstanding principal amount of the Loans on the applicable Interest Payment Date.

     

    SECTION 3.13    Capitalized Interest and Fees. For purposes of this Agreement and the other Loan Documents, all amounts capitalized and added to the principal balance of the Loans (including,
      but not limited to, PIK Interest pursuant to Section 3.12 and capitalized fees pursuant to the Fee Letter) will constitute a portion of the outstanding principal amount of the Loans as of the Closing Date or the applicable Interest Payment
      Date, as applicable, will bear interest (which shall be due and payable) in accordance with Sections 3.4, 3.5, 3.6 and, to the extent available, 3.12, and will be subject to Early Prepayment Fees and Exit Fees in
      accordance with Sections 3.10 and 3.11. Notwithstanding anything to the contrary contained in this Agreement or in any other Loan Document, in the event that any Default has occurred and is continuing on any Interest Payment Date, all
      interest due and payable on such date must be paid in cash, irrespective of any election at any time by the Borrower to pay such interest in the form of PIK Interest.

     

    ARTICLE IV

    SOFR AND OTHER PROVISIONS

     

    SECTION 4.1      Increased Costs.

     

    (a)          Increased Costs Generally.  If any Change in Law shall:

     

    (i)       impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against assets of, deposits with or for the account of, or credit
      extended or participated in by, any Lender (except any reserve requirement reflected in Adjusted Term SOFR);

     

    (ii)          subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (d) 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)          impose on any Lender any other condition, cost or expense (other than Taxes) affecting this Agreement or Loans made by such Lender or any participation therein;

     

    and the result of any of the foregoing shall be to increase the cost to such Lender or such other Recipient of making, converting to, continuing or maintaining any Loan or of maintaining its obligation to make any such
      Loan, or to increase the cost to such Lender or such other Recipient of participating in, or to reduce the amount of any sum received or receivable by such Lender or other Recipient hereunder (whether of principal, interest or any other amount) then,
      upon request of such Lender or other Recipient, the Borrower will pay to such Lender or other Recipient, as the case may be, such additional amount or amounts as will compensate such Lender or other Recipient, as the case may be, for such additional
      costs incurred or reduction suffered.

     

    
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    (b)          Capital Requirements.  If any Lender determines that any Change in Law affecting such Lender or any lending office of such Lender or such Lender’s holding company, if any,
      regarding capital or liquidity requirements, has or would have the effect of reducing the rate of return on such Lender’s capital or on the capital of such Lender’s holding company, if any, as a consequence of this Agreement, 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), then from time to time 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.

     

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

     

    (d)          Delay in Requests.  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 that the Borrower shall not be required to compensate a Lender pursuant to this Section for any increased costs incurred or reductions suffered more than nine months prior to the date that such Lender, as the case may
      be, 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 (except that, if the Change in Law giving rise to such increased costs or reductions is
      retroactive, then the nine-month period referred to above shall be extended to include the period of retroactive effect thereof).

     

    SECTION 4.2     Compensation for Losses.  In the event of (a)  the payment of any principal of any SOFR
        Loan other than on the last day of the Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any SOFR Loan other than on the last day of the Interest Period applicable thereto (including as a
        result of an Event of Default), (c) the failure to borrow, convert, continue or prepay any SOFR Loan on the date specified in any notice delivered pursuant hereto, or (d) the assignment of any SOFR Loan other than on the last day of the Interest
        Period applicable thereto as a result of a request by the Borrower, then, in any such event, the Borrower shall compensate each Lender for any loss, cost and expense attributable to such event, including any loss, cost or expense arising from the
        liquidation or redeployment of funds. A certificate of any Lender setting forth any amount or amounts that such Lender is entitled to receive pursuant to this Section 4.2 shall be delivered to the Borrower and shall be conclusive absent manifest
        error. The Borrower shall pay such Lender the amount shown as due on any such certificate within ten (10) days after receipt thereof.

     

    SECTION 4.3      Taxes.

     

    (a)         Defined Terms.  For purposes of this Section, the term “applicable law” includes FATCA.

     

    (b)       Payments Free of Taxes.  Any and all payments by or on account of any Obligation of a Credit Party under any Loan Document shall be made without deduction or withholding for any
      Taxes, except as required by applicable law.  If any applicable 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 any Withholding Agent, then
      such Withholding Agent shall be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and, if such Tax is an Indemnified Tax,
      then the sum payable by such Credit Party shall be increased as necessary so that after such deduction or withholding has been made (including such deductions and withholdings applicable to additional sums payable under this Section) the applicable
      Recipient receives an amount equal to the sum it would have received had no such deduction or withholding been made.

     

    
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    (c)       Payment of Other Taxes by the Credit Parties.  Each Credit Party agrees that, without duplication, it shall, or shall cause the appropriate Credit Party to, timely pay to the
      relevant Governmental Authority in accordance with applicable law, or at the option of the Agent timely reimburse it for the payment of, any Other Taxes.

     

    (d)     Indemnification by Credit Parties.  Each Credit Party agrees that, without duplication, it shall, or shall cause the appropriate Credit Party to, indemnify each Recipient, within ten
      (10) Business 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) payable or paid by such Recipient or required to be
      withheld or deducted from a payment to such Recipient and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified 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 a Credit Party by a Lender (with a copy to the Agent), or by the Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error.

     

    (e)       Indemnification by the Lenders.  Each Lender shall severally indemnify the Agent, within ten (10) Business Days after demand therefor, for (i) any Indemnified Taxes attributable to
      such Lender (but only to the extent that the Borrower has not already indemnified the Agent for such Indemnified Taxes and without limiting the obligation of the Borrower to do so), (ii) any Taxes attributable to such Lender’s failure to comply with
      the provisions of Section 11.11(b) relating to the maintenance of a Participant Register, and (iii) any Excluded Taxes attributable to such Lender, in each case, that are payable or paid by the 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 Agent shall be conclusive absent manifest error.  Each Lender hereby authorizes the 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 Agent to such
      Lender from any other source against any amount due to the Agent under this paragraph (e).

     

    (f)          Evidence of Payments.  As soon as practicable after any payment of Taxes by any Credit Party to a Governmental Authority pursuant to this Section, such Credit Party shall deliver
      to the 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 satisfactory to the Agent (acting on the
      instructions of the Majority Lenders acting reasonably).

     

    (g)          Status of Lenders.

     

    (i)        Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any Loan Document shall deliver to the Borrower and the Agent, at the
      time or times reasonably requested by the Borrower or the Agent, such properly completed and executed documentation reasonably requested by the Borrower or the Agent as will 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 Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by the Borrower or the Agent as will enable the Borrower or the
      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 paragraphs (g)(ii)(A), (ii)(B) and (ii)(D) of this Section) shall not be required if in such 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)        any Lender that is a U.S. Person shall deliver to the Borrower and the Agent on or about 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 Agent), executed copies of IRS Form W-9 certifying that such Lender is exempt from U.S. federal backup withholding tax;

     

    (B)        any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the 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 Agent), whichever of the following is applicable:

     

    (1)          in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document,
      executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E 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, IRS Form W-8BEN or IRS Form W-8BEN-E 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)       in the case of a Foreign Lender claiming that its extension of credit will generate U.S. effectively connected income, executed copies of IRS Form W-8ECI;

     

    (3)          in the case of a 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

        E-1 hereto 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 871(h)(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

     

    (4)        to the extent a Foreign Lender is not the beneficial owner, executed copies of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN, IRS Form W‐8BEN-E, a U.S. Tax Compliance
      Certificate substantially in the form of Exhibit E-2 or Exhibit E-3 hereto, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if the 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 E-4 hereto on behalf of each
      such direct and indirect partner;

     

    (C)        any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the 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 Agent), executed copies of any other form prescribed by applicable 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 law to permit the Borrower or the Agent to determine the withholding or
      deduction required to be made; and

     

    
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    (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 Agent at the time or times prescribed by law and at such time or times reasonably requested
      by the Borrower or the Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or the Agent as may be necessary for
      the Borrower and the 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 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
      Agent in writing of its legal inability to do so.

     

    (h)       Treatment of Certain Refunds.  If any party 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 pursuant to this Section (including by the payment of additional amounts pursuant to this Section), it shall pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made under this
      Section with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority with respect to
      such refund).  Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this paragraph (h) (plus any penalties, interest or other charges imposed by the relevant
      Governmental Authority) in the event that such indemnified party is required to repay such refund to such Governmental Authority.  Notwithstanding anything to the contrary in this paragraph (h), in no event will the indemnified party be required to
      pay any amount to an indemnifying party pursuant to this paragraph (h) the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party 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 paragraph shall not be construed to require
      any indemnified party to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other Person.

     

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

     

    SECTION 4.4     Payments, Computations; Proceeds of Collateral, Etc.  The parties hereto agree as follows:

     

    (a)        Unless otherwise expressly provided in a Loan Document, all payments by the Borrower pursuant to each Loan Document shall be made without setoff, deduction or counterclaim not later than
      11:00 a.m. (New York City time) on the date due in same day or immediately available funds to such account as the Agent shall specify from time to time by notice to the Borrower.  Funds received after that time shall be deemed to have been received
      by the Agent on the next succeeding Business Day.  All interest and fees shall be computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest or fee is
      payable over a year comprised of 360 days.  Payments due on other than a Business Day shall be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees in connection with that payment.

     

    
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    (b)       All amounts received as a result of the exercise of remedies under the Loan Documents (including from the proceeds of collateral securing the Obligations) or under applicable Law shall be
      applied upon receipt to the Obligations as follows: (i) first, to the payment in full in cash of all interest (including interest accruing after the commencement of a proceeding in bankruptcy, insolvency or similar law, whether or not permitted as a
      claim under such law) and fees owing under the Loan Documents, and all costs and expenses owing to the Agent and the Lenders (or any of them) pursuant to the terms of the Loan Documents, until paid in full in cash, (ii) second, after payment in full
      in cash of the amounts specified in clause (b)(i), to the payment of the principal amount of the Loans then outstanding, (iii) third, after payment in full in cash of the amounts specified in clauses (b)(i) and (b)(ii), to the
      payment of all other Obligations owing to the Agent and the Lenders (or any of them), and (iv) fourth, after payment in full in cash of the amounts specified in clauses (b)(i) through (b)(iii), and following the Termination Date, to
      the Borrower or any other Person lawfully entitled to receive such surplus.

     

    SECTION 4.5    Setoff.  Each Lender and the Agent shall, upon the occurrence and during the continuance of any Default described in clauses (i) through (iv), inclusive, of Section

        9.1(h) or, upon the occurrence and during the continuance of any other Event of Default, have the right to appropriate and apply to the payment of the Obligations owing to it (whether or not then due), and (as security for such Obligations)
      each Credit Party and each of its Subsidiaries hereby grants to each Lender and the Agent a continuing security interest in, any and all balances, credits, deposits, accounts (other than Excluded Accounts) or moneys of each Credit Party and each of
      its Subsidiaries then or thereafter maintained with such Lender or the Agent, as applicable.  Each Lender and the Agent agrees promptly to notify the Borrower after any such appropriation and application made by such Lender or the Agent, as
      applicable; provided that, the failure to give such notice shall not affect the validity of such setoff and application.  The rights of each Lender and the Agent under this Section are in addition to other rights and remedies (including other
      rights of setoff under applicable Law or otherwise) which such Lender or the Agent, as applicable, may have.

     

    SECTION 4.6     Inability to Determine Rates.  Subject to Section 2.5, if, on or prior to the first day of any Interest Period for any SOFR Loan:

     

    (a)        the Agent determines (which determination shall be conclusive and binding absent manifest error) that “Adjusted Term SOFR” cannot be determined pursuant to the definition thereof, or

     

    (b)        the Majority Lenders determine that for any reason in connection with any request for a SOFR Loan or a conversion thereto or a continuation thereof that Adjusted Term SOFR for any
      requested Interest Period with respect to a proposed SOFR Loan does not adequately and fairly reflect the cost to such Lenders of funding such Loan, and the Majority Lenders have provided notice of such determination to the Agent, the Agent will
      promptly so notify the Borrower and each Lender.

     

    
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    Upon notice thereof by the Agent to the Borrower, any obligation of the Lenders to make SOFR Loans, and any right of the Borrower to continue SOFR Loans or to convert ABR Loans to SOFR Loans, shall be suspended (to the
      extent of the affected SOFR Loans or affected Interest Periods) until the Agent (with respect to clause (b), at the instruction of the Majority Lenders) revokes such notice. Upon receipt of such notice, (i) the Borrower may revoke any pending
      request for a borrowing of, conversion to or continuation of SOFR Loans (to the extent of the affected SOFR Loans or affected Interest Periods) or, failing that, the Borrower will be deemed to have con-verted any such request into a request for a
      Borrowing of or conversion to ABR Loans in the amount specified therein and (ii) any outstanding affected SOFR Loans will be deemed to have been converted into ABR Loans at the end of the applicable Interest Period. Upon any such conversion, the
      Borrower shall also pay accrued interest on the amount so converted, together with any additional amounts required pursuant to Section 4.2. Subject to Section 2.5, if the Agent determines (which determination shall be conclusive and
      binding absent manifest error) that “Adjusted Term SOFR” cannot be determined pursuant to the definition thereof on any given day, the interest rate on ABR Loans shall be determined by the Agent without reference to clause (c) of the
      definition of “ABR” until the Agent revokes such determination.

     

    SECTION 4.7   Sharing of Payments.  If any Lender will, by exercising any right of setoff or counterclaim or otherwise, obtain payment in respect of any principal of or interest on the Loans
      or other obligations hereunder resulting in such Lender receiving payment of a proportion of the aggregate amount of its Loans and accrued interest thereon or other such obligations greater than its Pro Rata Share thereof as provided herein, then the
      Lender receiving such greater proportion will (a) notify the Agent of such fact, and (b) purchase (for cash at face value) participations in the Loans and such other obligations of the other Lenders, or make such other adjustments as will be
      equitable, so that the benefit of all such payments will be shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Loans and other amounts owing them; provided that, (i)
      if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations will be rescinded and the purchase price restored to the extent of such recovery, without interest; and (ii) the
      provisions of this Section will not be construed to apply to (i) any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement or (ii) any payment obtained by a Lender as consideration for the assignment of
      or sale of a participation in its Loans to any assignee or participant, other than to the Borrower or any of their respective Subsidiaries (as to which the provisions of this subsection will apply).

     

    ARTICLE V

    CONDITIONS PRECEDENT

     

    SECTION 5.1    Conditions to the Borrowing of the Closing Date Loans.  The obligation of the Lenders to make the Closing Date Loans on the Closing Date shall be subject to the execution and
      delivery of this Agreement by the parties hereto, the delivery of a Loan Request for the Closing Date Loans pursuant to Section 2.2, and the prior or concurrent satisfaction of each of the conditions precedent set forth below in this Section

        5.1.

     

    (a)        Secretary’s Certificate, Etc.  The Agent shall have received from each Credit Party (x) a copy of a good standing certificate (to the extent such concept it applicable in any
      relevant jurisdiction), dated a date reasonably close to the Closing Date, for each such Person and (y) a certificate, dated as of the Closing Date, duly executed and delivered by such Person’s Secretary, Assistant Secretary, or other Authorized
      Officer, director, managing member or general partner, as applicable, as to:

     

    (i)          resolutions of each such Person’s board of directors (or other managing body, in the case of other than a corporation) then in full force and effect authorizing the execution, delivery
      and performance of each Loan Document to be executed by such Person and the transactions contemplated hereby and thereby;

     

    (ii)        the incumbency and signatures of those of its officers, managing member or general partner, as applicable, authorized to act with respect to each Loan Document to be executed by such
      Person;

     

    
      40

      
        

    

    (iii)        the full force and validity of each Organic Document of such Person and copies thereof; and

     

    (iv)        certifying that each copy document relating to it specified in this Section 5.1(a) is correct, complete and in full force and effect and has not been amended or superseded as at
      the date no earlier than the Closing Date;

     

    in each case, upon which certificates the Agent may conclusively rely until it shall have received a further certificate of the Secretary, Assistant Secretary, director, managing member or general partner, as
      applicable, of any such Person cancelling or amending the prior certificate of such Person.

     

    (b)          Closing Date Certificate.  The Agent shall have received a certificate, dated as of the Closing Date and duly executed and delivered by an Authorized Officer of the Borrower (the
      “Closing Date Certificate”), which certificate shall be in form and substance satisfactory to the Agent (acting on the instructions of the Majority Lenders acting reasonably) and shall, among other things, represent and warrant that the
      statements made therein are true and correct as of such date, and, at the time such certificate is delivered, such statements shall in fact be true and correct. The statements in such certificate shall include: (i) (x) the representations and
      warranties set forth herein and in each Loan Document shall, in each case, be true and correct in all material respects as of the Closing Date (unless stated to relate solely to an earlier date, in which case such representations and warranties shall
      be true and correct in all material respects as of such earlier date); provided that any representations and warranties that are by their terms qualified by materiality, Material Adverse Effect or similar qualification shall be true and
      correct in all respects, and (y) no Default or Event of Default under and as defined in this Agreement shall have occurred and then be continuing and (ii) all of the conditions set forth in this Section 5.1 have been satisfied. All documents
      and agreements required to be appended to the Closing Date Certificate, if any, shall be in form and substance satisfactory to the Agent, shall have been executed and delivered by the requisite parties, and shall be in full force and effect.

     

    (c)          Delivery of Notes.  The Agent shall have received Notes for each Lender that has requested as such, evidencing the Closing Date Loans, which Notes shall be duly executed and
      delivered by an Authorized Officer of the Borrower.

     

    (d)        Financial Information, Etc.  The Agent shall have received, which such receipt shall include the Company’s uploading of such information to the Electronic Data Gathering, Analysis,
      and Retrieval system (“EDGAR”), the SEC’s public database:

     

    (i)       audited consolidated financial statements of the Borrower and its Subsidiaries for the Fiscal Year ended December 31, 2020;

     

    (ii)        unaudited consolidated financial statements of the Borrower and its Subsidiaries for the fiscal period ended September 30, 2021;

     

    (iii)     draft consolidated financial statements of the Borrower and its Subsidiaries for the Fiscal Year ended December 31, 2021; and

     

    (iv)        such other financial information as to the Borrower and each of its Subsidiaries and their respective businesses, assets and liabilities as the Agent may reasonably request.

     

    (e)         Compliance Certificate.  The Agent shall have received a Compliance Certificate, dated as of the Closing Date, duly executed (and with all schedules thereto duly completed) and
      delivered by the chief financial or accounting Authorized Officer of the Borrower.

     

    
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    (f)         Solvency, Etc.  The Agent shall have received a solvency certificate duly executed and delivered by the chief financial or accounting Authorized Officer of the Borrower, dated as
      of the Closing Date, in form and substance satisfactory to the Agent.

     

    (g)         Fee Letter. The Agent shall have received the Fee Letter, dated as of the Closing Date, duly executed and delivered by the Borrower, the Agent and the Lenders.

     

    (h)         Security Agreement, Etc. The Agent shall have received executed counterparts of the Security Agreement, dated as of the Closing Date, duly executed and delivered by the Credit
      Parties together with:

     

    (i)        certificates (in the case of Capital Securities that are securities (as defined in the UCC)) evidencing all of the issued and outstanding Capital Securities owned by each Credit Party,
      which certificates in each case shall be accompanied by undated instruments of transfer duly executed in blank, or, if any Capital Securities (in the case of Capital Securities that are uncertificated securities (as defined in the UCC)), confirmation
      and evidence satisfactory to the Agent that the security interest therein has been transferred to and perfected by the Agent in accordance with Articles 8 and 9 of the UCC and all laws otherwise applicable to the perfection of the pledge of such
      Capital Securities;

     

    (ii)          financing statements suitable in form for naming each Credit Party as a debtor and the Agent for the benefit of the Secured Parties as the secured party, or other similar instruments
      or documents to be filed under the UCC of all jurisdictions as may be necessary or, in the opinion of the Agent, desirable to perfect the security interests of the Secured Parties pursuant to the Security Agreement; and

     

    (iii)      any Patent Security Agreement, Trademark Security Agreement or Copyright Security Agreement required to be provided under the Security Agreement, each dated as of the Closing Date, duly
      executed and delivered by an Authorized Officer of the applicable Credit Party.

     

    (i)         Intercompany Subordination Agreement.  The Agent shall have received executed counterparts of the Intercompany Subordination Agreement, duly executed and delivered by each
      Credit Party and each of their respective Subsidiaries.

     

    (j)         Material Agreements.  Copies of all Material Agreements shall have been made available to the Agent upon its request.

     

    (k)        Opinion of Counsel.  The Agent shall have received a legal opinion, dated as of the Closing Date and addressed to the Agent and the Lenders, from independent legal counsel to the
      Credit Parties, in each case, in form and substance reasonably acceptable to the Agent.

     

    (l)         Fees, Expenses, Etc.  The Agent shall have received for its own account and for the account of the Lenders and all fees, costs and expenses due and payable pursuant to Section
        11.3, the Fee Letter or any other Loan Documents, including all closing costs and fees and all unpaid reasonable and documented expenses of the Agent and the Lenders incurred in connection with the transactions contemplated hereby (including
      the Agent’s legal fees and expenses).

     

    (m)        Anti-Terrorism Laws and Beneficial Ownership.  The Agent shall have received, as applicable, (i) all documentation and other information required by bank regulatory authorities
      under applicable “know your customer” and anti-money laundering rules and regulations, including the Patriot Act and (ii) if the Borrower qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, at least five (5) Business
      Days prior to the Closing Date, a Beneficial Ownership Certification.

     

    
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    (n)         No Material Adverse Effect.  As of the Closing Date, (i) the representations and warranties set forth herein and in each Loan Document are true and correct in all material
      respects; provided that any representations and warranties that are by their terms qualified by materiality, Material Adverse Effect or similar qualification shall be true and correct in all respects, (ii) no Default or Event of Default shall
      have then occurred and be continuing, and (iii) no Material Adverse Effect shall have occurred since December 31, 2020.

     

    (o)        Satisfactory Legal Form.  All documents executed or submitted pursuant hereto by or on behalf of any Credit Party shall be satisfactory in form and substance to the Agent, and the
      Agent and its counsel shall have received all information, approvals, resolutions, opinions, documents or instruments as the Agent may reasonably request.

     

    (p)        Debt Securities and Credit Facilities; Senior Secured Loans.  The Agent shall have received a certificate from an Authorized Officer of the Borrower certifying that, as of
      the time of the Closing Date Loans on the Closing Date (i) neither any Credit Party nor any of their respective Subsidiaries has issued, or authorized the issuance of, any debt securities or entered into, or authorized the entrance into, any other
      credit facilities and (ii) the Obligations constitute the sole secured obligations and sole Indebtedness of the Credit Parties (other than Permitted Indebtedness).

     

    (q)       Perfection Certificate.  The Agent shall have received a Perfection Certificate, dated as of the Closing Date, duly executed (and with all schedules thereto duly completed) and
      delivered by the Authorized Officer of the Borrower.

     

    (r)       Organizational Chart.  The Borrower shall have provided an accurate and complete organization chart reflecting all of the direct and indirect subsidiaries of the Borrower (including
      the applicable ownership percentages of each entity) as of the Closing Date, and the Agent and the Majority Lenders, in their sole discretion, shall have been satisfied with the direct and indirect equity ownership of the Credit Parties.

     

    (s)        Warrants.  Prior to or substantially concurrently with the making of the Closing Date Loans on the Closing Date, the Warrants shall shave been issued to the applicable Hayfin
      Equity Investors.

     

    (t)        Controlled Accounts.  Each Credit Party shall deliver evidence that all deposit accounts, lockboxes, disbursement accounts, investment accounts or other similar accounts of the
      Credit Parties (other than Excluded Accounts) are Controlled Accounts.

     

    (u)         Mortgages.  The Credit Parties shall deliver a Mortgage with respect to the Boca Facility.

     

    (v)         Insurance.  The Agent shall have received (i) certificates of insurance evidencing that the insurance required to be maintained pursuant to Section 7.4 is in full force
      and effect, together with endorsements satisfying the requirements of the last paragraph of Section 7.4, in each case, in form and substance satisfactory to the Agent (acting on the instructions of the Majority Lenders acting reasonably); and
      (ii) certified copies of the insurance policies (or binders in respect thereof), from one or more insurance companies satisfactory to the Agent, required to be maintained pursuant to Section 7.4.

     

    
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    (w)        Payoff and Release Documents.  The Agent shall have received evidence that all existing indebtedness of all Credit Parties and any Subsidiaries thereof has been (or will be,
      substantially concurrently with the borrowing of the Closing Date Loan) paid in full, including but not limited to (i) executed counterparts of a payoff letter, duly executed and delivered by each applicable Credit Party and/or Subsidiary and any
      Person extending such indebtedness to such Credit Parties and/or Subsidiaries, (ii) UCC-3 termination statements, if any, necessary to release all Liens and other rights of any Person in any collateral described in the Security Agreement previously
      granted by any Person, together with such other UCC-3 termination statements as the Agent may reasonably request from any Credit Party or any Subsidiary thereof, as applicable, (iii) executed agreements, if any, necessary to release all Liens and
      other rights of any Person in any Intellectual Property previously granted by any Person and (iv) such other discharge, release and termination documents as the Agent may reasonably request from any Credit Party or any Subsidiary thereof, necessary
      to release all Liens in any other collateral described in the Security Agreement previously granted by any Person, in each case, in form and substance satisfactory to the Agent.

     

    SECTION 5.2    Conditions to the Borrowing of the Delayed Draw Loan.  The obligation of the Lenders to
        make the Delayed Draw Loan on the Delayed Draw Date shall be subject to the delivery of a Loan Request for the Delayed Draw Loan pursuant to Section 2.2, and the prior or concurrent satisfaction of each of the conditions precedent set forth
        below in this Section 5.2.

     

    (a)          Closing Date Certificate.  The Agent shall have received a certificate, dated as of the Delayed Draw Date and duly executed and delivered by an Authorized Officer of the Borrower
      (the “Delayed Draw Date Certificate”), which certificate shall be in form and substance satisfactory to the Agent (acting on the instructions of the Majority Lenders acting reasonably) and shall, among other things, represent and warrant that
      the statements made therein are true and correct as of such date, and, at the time such certificate is delivered, such statements shall in fact be true and correct. The statements in such certificate shall include, among others, (i) (x) the
      representations and warranties set forth herein and in each Loan Document shall, in each case, be true and correct in all material respects as of the Delayed Draw Date (unless stated to relate solely to an earlier date, in which case such
      representations and warranties shall be true and correct in all material respects as of such earlier date); provided that any representations and warranties that are by their terms qualified by materiality, Material Adverse Effect or similar
      qualification shall be true and correct in all respects, and (y) no Default or Event of Default under and as defined in this Agreement shall have occurred and then be continuing and (ii) all of the conditions set forth in this Section 5.2
      have been satisfied. All documents and agreements required to be appended to the Delayed Draw Date Certificate, if any, shall be in form and substance satisfactory to the Agent, shall have been executed and delivered by the requisite parties, and
      shall be in full force and effect.

     

    (b)         Delivery of Notes.  The Agent shall have received Notes for each Lender that has requested as such, evidencing the Delayed Draw Date Loan, which Notes shall be duly
      executed and delivered by an Authorized Officer of the Borrower.

     

    (c)         Compliance Certificate.  The Agent shall have received a Compliance Certificate, dated as of the Delayed Draw Date, duly executed (and with all schedules thereto duly completed)
      and delivered by the chief financial or accounting Authorized Officer of the Borrower, evidencing, as of the Delayed Draw Date, the Borrower’s and its Subsidiaries’ compliance with the conditions set forth in Section 5.2(d) and Section
        8.4, in each case immediately prior to the incurrence of the Delayed Draw Loan.

     

    (d)        Minimum Net Sales.  Net Sales of BIVIGAM®, ASCENIVTM, Nabi-HB® and any by-products produced during
      the fractionation of human plasma by Borrower including, but not limited to, cryoprecipitate, Fraction V paste and Fraction I and Fraction IV intermediates for the two consecutive Fiscal Quarters ending on the most recent test date prior to the
      Delayed Draw Date set forth below are greater than or equal to the corresponding amount set forth opposite such test date:

     

    
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            Test Date

          	 	
             

              

            Minimum Net Sales

          	 
	
            March 31, 2022

          	 	
            $

          	
            45,000,000

          	 
	
            June 30, 2022

          	 	
            $

          	
            50,000,000

          	 
	
            September 30, 2022

          	 	
            $

          	
            55,000,000

          	 
	
            December 31, 2022

          	 	
            $

          	
            60,000,000

          	 

    

    

    ARTICLE VI

    REPRESENTATIONS AND WARRANTIES

     

    In order to induce the Agent and the Lenders to enter into this Agreement, each Credit Party hereby jointly and severally represents and warrants to the Agent and the Lenders as follows:

     

    SECTION 6.1     Organization, Etc.  Each Credit Party (i) is validly organized and existing and in good standing under the laws of the jurisdiction of its incorporation or organization (to
      the extent such concept it applicable in any relevant jurisdiction), (ii) is duly qualified to do business and is in good standing as a foreign entity in each jurisdiction where the nature of its business requires such qualification and (iii) has
      full power and authority and holds all requisite Permits required to enter into and perform its Obligations under each Loan Document to which it is a party, to own and hold under lease its property and to conduct its business substantially as
      currently conducted by it; except in the cases of clauses (ii) and (iii), where the failure to do so could not reasonably be expected to result in a Material Adverse Effect.

     

    SECTION 6.2  Due Authorization, Non-Contravention, Etc.  The execution, delivery and performance by each Credit Party and each of its Subsidiaries of each Loan Document executed or to be
      executed by it are in each case within such Person’s powers, have been duly authorized by all necessary action, and do not:

     

    (a)        contravene (i) any Organic Documents of such Credit Party or such Subsidiary, (ii) any court decree or order binding on or affecting such Credit Party or such Subsidiary, or (iii) any law
      or governmental regulation binding on or affecting such Credit Party or such Subsidiary; or

     

    (b)         result in (i) or require the creation or imposition of, any Lien on a Credit Party’s or any of its Subsidiaries’ properties (except Permitted Liens) or (ii) a default under any
      contractual restriction binding on or affecting a Credit Party or any of its Subsidiaries.

     

    SECTION 6.3      Government Approval, Regulation, Exclusivities, Etc.

     

    (a)       Each Credit Party and each Subsidiary involved in Product Development and Commercialization Activities has all Regulatory Authorizations material to its business and operations.

     

    (b)        Each Credit Party, each Subsidiary (as applicable) and, to the knowledge of the Credit Parties, each licensee of a Credit Party or a Subsidiary of any Intellectual Property, is in
      compliance with, and at all times during the past five (5) years, has materially complied with, all Healthcare Laws, the failure of compliance with which, individually or together with any other such failures, could reasonably be expected to result
      in a Material Adverse Effect. No Credit Party or any Subsidiary thereof has received any written notice from any Regulatory Authority citing action or inaction by any Credit Party or any Subsidiary thereof that would constitute a violation of any
      applicable Healthcare Law, which could reasonably be expected to result in a Material Adverse Effect.

     

    
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    SECTION 6.4  Validity, Etc.  Each Loan Document to which a Credit Party or any of its Subsidiaries is a party constitutes the legal, valid and binding obligations of such Person enforceable
      against such Person in accordance with its respective terms (except, in any case, as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization or similar laws affecting creditors’ rights generally and by principles of
      equity).

     

    SECTION 6.5     Financial Information.  The consolidated financial statements of the Borrower and its Subsidiaries furnished to the Agent pursuant to Section 5.1(d) and Sections
        7.1(a) and (b) have been prepared in accordance with GAAP consistently applied, and present fairly the consolidated financial condition of the Persons covered thereby as at the dates thereof and the results of their operations for the
      periods then ended.

     

    SECTION 6.6      No Material Adverse Effect.  Since December 31, 2020, there has been no event, occurrence or other circumstance that has resulted in a Material Adverse Effect.

     

    SECTION 6.7      Litigation, Labor Matters and Environmental Matters.

     

    (a)        Except as set forth on Schedule 6.7(a), there are no actions, suits or proceedings by or before any arbitrator or Governmental Authority pending against or threatened against or
      affecting any Credit Party or any of its Subsidiaries, which could reasonably be expected to result in a Material Adverse Effect.

     

    (b)       There are no material labor controversies pending against or threatened, in writing, against or affecting any Credit Party or any of its Subsidiaries.

     

    (c)          No Credit Party or any Subsidiary thereof, nor any of their respective facilities or operations is subject to any outstanding written order, consent decree or settlement agreement with
      any Person relating to any Environmental Law, any Environmental Claim, or any Hazardous Materials Activity that, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect. There are and, to the knowledge of
      the Credit Parties, have been, no conditions, occurrences, or Hazardous Materials Activities which would reasonably be expected to form the basis of an Environmental Claim against the Borrower or any of its Subsidiaries that, individually or in the
      aggregate, could reasonably be expected to result in a Material Adverse Effect. To the knowledge of the Credit Parties, no predecessor of the Borrower or any of its Subsidiaries has filed any notice under any Environmental Law indicating past or
      present treatment of Hazardous Materials at any facility of the Borrower or such Subsidiary, which could reasonably be expected to form the basis of an Environmental Claim against the Borrower or any of its Subsidiaries that, individually or in the
      aggregate, could reasonably be expected to result in a Material Adverse Effect (but, for the avoidance of doubt, the Borrower has not undertaken any investigation of or made any inquiries to, or relating to, any of its or its Subsidiaries’
      predecessors), and neither the Borrower’s nor any of its Subsidiaries’ operations involves the generation, transportation, treatment, storage or disposal of hazardous waste, as defined under 40 C.F.R. Parts 260 270 or any state equivalent, which
      could reasonably be expected to form the basis of an Environmental Claim against the Borrower or any of its Subsidiaries that, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect. No event or
      condition has occurred or is occurring with respect to any Credit Party relating to any Environmental Law, any Release of Hazardous Materials, or any Hazardous Materials Activity which, individually or in the aggregate, has resulted in, or could
      reasonably be expected to result in, a Material Adverse Effect.

     

    SECTION 6.8     Subsidiaries.  Schedule 6.8 sets forth the name and jurisdiction of incorporation or formation of each direct and indirect Subsidiary of the Borrower.  Except as set
      forth on Schedule 6.8, neither the Borrower nor any of its Subsidiaries owns or holds, whether beneficially or of record, any Capital Securities of any other Person.  All of the outstanding Capital Securities of the Borrower’s Subsidiaries as
      set forth on Schedule 6.8 have been validly issued, are fully paid and nonassessable and are owned directly or indirectly by the Borrower free and clear of all Liens except for Permitted Liens.

     

    
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    SECTION 6.9     Ownership of Properties.  Each Credit Party and each of its Subsidiaries owns (i) in the case of owned real property, good and marketable fee title to, and (ii) in the case of
      owned personal property, good and valid title to, or, in the case of leased real or personal property, valid and enforceable leasehold interests (as the case may be) in, all of its properties and assets, tangible and intangible, of any nature
      whatsoever, free and clear in each case of all Liens or claims, except for non-consensual Permitted Liens.

     

    SECTION 6.10   Taxes.  Each Credit Party and each of its Subsidiaries has filed all income and other material Tax returns and reports required by law to have been filed by it and each Credit
      Party has paid all Taxes owed (whether or not shown on any such Tax returns), except any such Taxes which are being diligently contested in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP shall have been
      set aside on its books and that are set forth on Schedule 6.10. Neither any Credit Party nor any of their respective Subsidiaries is (or has ever been) a “United States real property holding corporation” within the meaning of Section
      897(c)(2) of the Code.

     

    SECTION 6.11  Pension Plans, Etc.  As of the date hereof, (i) none of the assets of any Credit Party or any of their respective Subsidiaries constitute “plan assets” of one or more such plans
      within the meaning of 29 C.F.R. Section 2510.3-101, as modified by Section 3(42) of ERISA, (ii) no Credit Party nor any Subsidiaries thereof constitutes a “governmental plan” within the meaning of Section 3(32) of ERISA, and (iv) transactions by or
      with a Credit Party are not subject to any statute, rule or regulation regulating investments of, or fiduciary obligations with respect to, “governmental plans” within the meaning of Section 3(32) of ERISA. Except as would not reasonably be expected
      to result in a Material Adverse Effect: (i) each Welfare Plan, Plan and each Pension Plan has been established and operated in compliance with applicable Law, (ii) no ERISA Event has occurred with respect to any Pension Plan or Multiemployer Plan and
      (iii) no Credit Party, nor any Subsidiary thereof has any Contingent Liability with respect to any post-retirement benefit under a Welfare Plan, other than (1) liability for continuation coverage described in Part 6 of Title I of ERISA or similar
      state law, (2) benefits through the end of the month of termination of employment, to the extent provided under the terms of the applicable Welfare Plan and underlying insurance policy, (3) death or disability benefits attributable to deaths or
      disabilities occurring at or prior to termination of employment, and (4) conversion rights, and has complied with the terms of such Welfare Plan. No formal steps have been taken to terminate any Pension Plan, and no contribution failure has occurred
      with respect to any Pension Plan sufficient to give rise to a Lien on any Credit Party, any Subsidiary thereof or, to its knowledge, any ERISA Affiliate under Section 303(k) of ERISA or under Section 430(k) of the Code.

     

    SECTION 6.12 Accuracy of Information.  None of the factual information heretofore or contemporaneously furnished in writing to the Agent or any Lender by or on behalf of any Credit Party or
      any of its Subsidiaries in connection with this Agreement or any other Loan Document or any transaction contemplated hereby or thereby, when taken as a whole, contains any untrue statement of a material fact, or omits to state any material fact
      necessary to make any information, in the light of the circumstances under which they were made, not materially misleading; provided that, with respect to projected or pro forma financial information, the Borrower represents only that such
      information was prepared in good faith based upon assumptions believed as of the date hereof to be reasonable (it being understood that such projected information may vary from actual results and that such variances may be material).

     

    
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    SECTION 6.13   Regulations U and X.  No Credit Party and none of its Subsidiaries is engaged in the business of extending credit for the purpose of buying or carrying margin stock, and no
      proceeds of any of the Loans will be used to purchase or carry margin stock or otherwise for a purpose which violates, or would be inconsistent with, F.R.S. Board Regulation U or Regulation X.  Terms for which meanings are provided in F.R.S. Board
      Regulation U or Regulation X or any regulations substituted therefor, as from time to time in effect, are used in this Section with such meanings.

     

    SECTION 6.14   Solvency.  The Borrower is Solvent, and the Credit Parties and their Subsidiaries taken as a whole, on a consolidated basis, are Solvent.

     

    SECTION 6.15    Collateral and Intellectual Property.

     

    (a)         Schedule 6.15(a) sets forth (i) a complete and accurate list of all (A) applied for, issued or registered Patents, (B) registered Trademarks (including domain names) and any
      pending registrations for Trademarks and (C) Copyrights and any other registered Intellectual Property, in each case that is owned or co-owned by, or exclusively or non-exclusively licensed to, any Credit Party or any Subsidiary thereof, including
      its name/title, current owner, registration, patent or application number, and registration or application date, and (ii) all agreements pursuant to which a Credit Party or any of its Subsidiaries obtains a license to any Intellectual Property that
      is material to the business of such Credit Party or its Subsidiary (excluding licenses for computer software that is commercially available to the public that are generally available for an annual or one-time license fee of no more than $250,000).
      For each item of Intellectual Property listed on Schedule 6.15(a), the applicable Credit Party or Subsidiary has, where relevant, indicated the following: the countries in each case in which such item is patented, registered or applied for,
      the application numbers, the registration or patent numbers, the filing and registration dates, and the owner of such item of Intellectual Property.

     

    (b)        Each Credit Party and each of its Subsidiaries owns or has a valid license to all Intellectual Property used in, material to or otherwise necessary for the operation of the business of
      such Credit Party and Subsidiary, free and clear of any and all Liens other than Permitted Liens and all Intellectual Property set forth or required to be set forth on Schedule 6.15(a) is in full force and effect, and has not expired, lapsed
      or been forfeited, cancelled or abandoned except as set forth on Schedule 6.15(a). Each Credit Party and each of its Subsidiaries is the exclusive owner of all right, title and interest in and to, all such Intellectual Property that is owned
      or purported to be owned by such Person.

     

    (c)          Each Credit Party and each of its Subsidiaries has taken commercially reasonable measures consistent with commercially reasonable practices in the industry in which it operates to
      maintain and protect its Intellectual Property, and there are no unpaid maintenance or renewal fees payable by such Person that are currently overdue for any of such registered Intellectual Property.

     

    (d)       There is no proceeding challenging the validity or enforceability of any Intellectual Property set forth on Schedule 6.15(a), no Credit Party nor any of its Subsidiaries is involved
      in any such proceeding with any Person and none of the Intellectual Property set forth on Schedule 6.15(a) is the subject of any Other Administrative Proceeding.

     

    (e)       Each item of Intellectual Property owned by a Credit Party or any Subsidiary thereof is valid, enforceable and, where registered, subsisting and such Intellectual Property licensed to a
      Credit Party or any Subsidiary thereof is, to the knowledge of such Credit Party or Subsidiary, valid, enforceable and subsisting and no event has occurred, and nothing has been done or omitted to have been done by the Credit Parties that could
      reasonably be expected to affect the validity or enforceability of such Intellectual Property.

     

    
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    (f)        Except for as set forth on Schedule 6.15(c)(i), to the knowledge of the Credit Parties, no third party is infringing, misappropriating or otherwise violating any Intellectual
      Property of any Credit Party or Subsidiary.

     

    (g)         With respect to each license agreement listed on Schedule 6.15(a), and except as set forth thereon, such license agreement (i) is in full force and effect and is binding upon and
      enforceable against the Credit Party or Subsidiary party thereto and all other parties party thereto in accordance with its terms, (ii) has not been amended or modified and (iii) has not suffered a default thereunder. No Credit Party nor any
      Subsidiary thereof has taken any action that could reasonably be expected to permit any other Person party to any Material Agreement to have, and no such Person otherwise has, any defenses, counterclaims or rights of setoff thereunder.

     

    (h)       No Credit Party or Subsidiary is infringing, misappropriating or otherwise violating the Intellectual Property rights of any other Person. Except as set forth on Schedule 6.15(c)(ii),
      no Credit Party nor any Subsidiary thereof has received written notice from any third party alleging that the conduct of its business (including the development, manufacture, use, sale or other commercialization of any Product) currently infringes,
      misappropriates or otherwise violates any Intellectual Property of that third party and the conduct of its business (including the development, manufacture, use, sale or other commercialization of any Product).

     

    (i)       (i) Each Credit Party’s exact legal name is that indicated on the Perfection Certificate and on the signature page hereof, (ii) each Credit Party is an organization of the type and is
      organized in the jurisdiction set forth in the Perfection Certificate, (iii) the Perfection Certificate accurately sets forth its organizational identification number or accurately states that it has none, (iv) the Perfection Certificate accurately
      sets forth as of the Closing Date its place of business, or, if more than one, its chief executive office as well as its mailing address (if different than its chief executive office), (v) each Credit Party (and each of its predecessors) has not, in
      the five (5) years prior to the Closing Date, changed its jurisdiction of formation, organizational structure or type, or any organizational number assigned by its jurisdiction and (vi) all other information set forth on the Perfection Certificate
      pertaining to each Credit Party and each Subsidiary thereof is accurate and complete in all material respects as of the Closing Date. If any Credit Party is not now a Registered Organization but later becomes one, it shall promptly notify the Agent
      of such occurrence and provide the Agent with such Credit Party’s organizational identification number. The Agent and the Lenders hereby agree that the Perfection Certificate shall be updated or deemed to be updated after the Closing Date to reflect
      information provided in any written notice delivered by any Credit Party to the Lenders pursuant to Section 8.17; provided that any update to the Perfection Certificate by any Credit Party pursuant to Section 8.17 shall not
      relieve any Credit Party of any other Obligation under this Agreement.

     

    (j)         Each Credit Party (i) has good title to, has rights in, and the power to transfer each item of the Collateral, upon which it purports to grant a Lien under any Collateral Document, free
      and clear of any and all Liens except Permitted Liens, except for such minor irregularities or defects in title that do not materially interfere with the Credit Parties’ ability to conduct their business as currently conducted, including any material
      loss of rights and (ii) it has no deposit accounts maintained at a bank or other depository or financial institution located in the United States other than the deposit or current accounts described in the Perfection Certificate delivered to Agent in
      connection herewith.

     

    SECTION 6.16    Data Privacy.

     

    (a)         Each Credit Party and each of its Subsidiaries is, and for the past three years has been, in material compliance with (A) all Healthcare Laws; and (B) all Material Agreements (or portions
      thereof) to which the Borrower or any of its Subsidiaries is a party that are applicable to Data Activities, including the Borrower’s and each of its Subsidiaries’ contractual commitments to third-party analytics and advertising providers
      (collectively, “Privacy Agreements”). The Borrower and each of its Subsidiaries has delivered to the Agent accurate and complete copies of all Privacy Agreements.

     

    
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    (b)       Each Credit Party and each of its Subsidiaries takes commercially reasonable steps to protect Personal Data in its possession or control against damage or loss, and against unauthorized
      access, acquisition, use, modification, disclosure or other misuse, except to the extent that failure to take such steps would not reasonably result in a Material Adverse Effect. To the knowledge of the Credit Parties, in the past three (3) years,
      there has been no unauthorized access, use, or disclosure by a third-party of Personal Data in the possession or control of any Credit Party or any of its Subsidiaries with regard to any Personal Data of such Credit Party or such Subsidiary, except
      to the extent any such unauthorized access or use, either individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect.

     

    (c)          [Reserved]

     

    (d)      The Borrower and each of its Subsidiaries has, for the past three years, implemented applicable written policies relating to Data Activities, including, without limitation, a publicly posted
      website privacy policy, annual privacy statements required under the Gramm-Leach-Bliley Act or applicable Healthcare Law, and a comprehensive information security program that includes appropriate written information security policies (“Privacy
        and Data Security Policies”). The Borrower and each of its Subsidiaries has made available a true, correct, and complete copy of each Borrower Privacy and Data Security Policy in effect at any time over the past three years. For the past three
      years, the Borrower and each of its Subsidiaries has been and is in material compliance with all such Privacy and Data Security Policies, and neither the Borrower nor any of its Subsidiaries engages in any undisclosed collection of Personal Data on
      its website or any third-party websites. Neither the execution, delivery, or performance of this Agreement, nor the consummation of any of the transactions contemplated under this Agreement, nor the Agent’s or any Lender’s possession, use, or
      disclosure of Personal Data will materially violate any of the Privacy Agreements, Privacy and Data Security Policies, or any applicable Healthcare Laws.

     

    (e)         For the past three years, the Borrower and each of its Subsidiaries have provided notifications to, and have obtained consent from, Persons regarding its Data Activities where such notice
      or consent is required by Healthcare Laws.  The Borrower and each of its Subsidiaries have, for the past three years, collected all Personal Data in accordance with its Privacy Policies and Healthcare Laws, and the Borrower’s and each of its
      Subsidiaries’ collection of such Personal Data or any other data from third parties is in accordance with any requirements from such third parties, including written website terms and conditions. In the past three years, neither the Borrower nor any
      of its Subsidiaries have (i) received direct written communication from any website owner or operator that the Borrower’s or any of its Subsidiaries’ access to such website is unauthorized; (ii) entered into a written agreement with any website owner
      or operator prohibiting scraping activity; (iii) accessed any website’s information through illicitly circumventing a password requirement or similar technological barrier; or (iv) scraped any data from a website that has a clickwrap agreement
      prohibiting such activity.

     

    (f)        There is no pending, nor in the past three years has there been any, complaint, audit, proceeding, investigation, or claim against the Borrower or any of its Subsidiaries initiated by (a)
      any person or entity; (b) the United States Federal Trade Commission, any state attorney general or similar state official; (c) any other Governmental Authority, in the case of clauses (a) through (e), inclusive, alleging that any
      Data Activity of any Credit Party or any Subsidiary thereof: (A) is in violation of any applicable Healthcare Laws, (B) is in violation of any Privacy Agreements, (C) is in violation of any Privacy and Data Security Policies, or (D) otherwise
      constitutes an unfair, deceptive, or misleading trade practice.

     

    
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    (g)         For the past three years, the Borrower and each of its Subsidiaries have taken all commercially reasonable steps (including, without limitation, implementing, maintaining, and monitoring
      compliance with government-issued or industry standard measures with respect to administrative, technical and physical security) to ensure that all Personal Data in its possession or control is protected against damage, loss, and against unauthorized
      access, acquisition, use, modification, disclosure or other misuse. To the knowledge of the Credit Parties, in the past three years there has been no material unauthorized access, use, or disclosure of Personal Data in the possession or control of
      the Borrower or any of its Subsidiaries and any of its contractors with regard to any Personal Data obtained from or on behalf of the Borrower and each of its Subsidiaries.

     

    (h)       For the past three years, the Borrower and each of its Subsidiaries have taken commercially reasonable steps and implemented commercially reasonable measures and procedures to ensure that
      the Borrower’s and each of its Subsidiaries’ Systems are free from malware and other harmful code, including, but not limited to, the use of commercially available up to date antivirus software. For the past three years there have been no material
      successful unauthorized intrusions or breaches of the security of the Borrower’s or any of its Subsidiaries’ Systems or any unauthorized access, use, damage to or disclosure of the Borrower’s or any of its Subsidiaries’ information or Intellectual
      Property which, individually or in the aggregate, has resulted in, or could reasonably be expected to result in, a Material Adverse Effect.

     

    (i)      For the past three years, the Borrower and each of its Subsidiaries have contractually required all third parties, including vendors, affiliates, and other persons providing services to the
      Borrower and each of its Subsidiaries that have access to or receive Personal Data from or on behalf of the Borrower and each of its Subsidiaries to comply with all applicable Healthcare Laws, and to take all commercially reasonable steps to ensure
      that all of the Borrower’s and each of its Subsidiaries’ Personal Data in such third parties’ possession or control is protected against damage, loss, and against unauthorized access, acquisition, use, modification, disclosure or other misuse.

     

    (j)        For the past three years, the Borrower and each of its Subsidiaries has been in material compliance with all U.S. federal and state laws and regulations pertaining to sales, marketing, and
      electronic communications, including, without limitation, the CAN-SPAM Act, the Telephone Consumer Protection Act, and the Telemarketing Sales Rule.

     

    SECTION 6.17   Material Agreements.  Set forth on Schedule 6.17 is a complete and accurate list of each Material Agreement of the Credit Parties and their Subsidiaries. After giving
      effect to the consummation of the transactions contemplated by this Agreement, each such Material Agreement is a valid and binding obligation of the applicable Credit Party and, to the knowledge of the Credit Parties, each other party thereto, and is
      in full force and effect, and neither the applicable Credit Party nor, to the knowledge of the Credit Parties, any other party thereto is in material breach thereof or default thereunder, except where such breach or default (which default has not
      been cured or waived) could not reasonably be expected to give rise to any cancellation, termination or acceleration right of the applicable counterparty thereto. No Credit Party or any Subsidiary thereof has received any written notice from any
      party thereto asserting or, to the knowledge of the Credit Parties threatening to assert, circumstances that could reasonably be expected to result in the cancellation, termination or invalidation of any such Material Agreement.

     

    SECTION 6.18  Permits.  The Credit Parties and their Subsidiaries have all material Permits, including Environmental Permits, necessary or required for the ownership, operation and conduct of
      its business and the distribution of the Products.  All such Permits are validly held and there are no material defaults thereunder.

     

    
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    SECTION 6.19    Regulatory Matters.  With respect to each Product:

     

    (a)      Set forth on Schedule 6.19(a) is a complete and accurate list of all material Regulatory Authorizations relating to the Credit Parties and their Subsidiaries, the conduct of their
      business, and the Products. All such material Regulatory Authorizations are (i) legally and beneficially owned exclusively by the Credit Parties and their Subsidiaries, as applicable, free and clear of all Liens other than Permitted Liens, and (ii)
      as applicable, validly registered and on file with the applicable Governmental Authority, in material compliance with all filing and maintenance requirements (including any fee requirements) thereof, and are in good standing, valid and enforceable
      with the applicable Governmental Authority. All material required notices, registrations and listings, applications, supplemental applications or notifications, reports (including recalls, field alerts, and other reports of adverse experiences) and
      other required material filings with respect to the Products for the last five (5) years have been timely filed with the FDA and all other applicable Governmental Authorities.

     

    (b)       (i) All material regulatory filings required by any Regulatory Authority or in respect of any Regulatory Authorization with respect to any Product or any Product Development and
      Commercialization Activities in the last five (5) years have been made, and all such filings are materially complete and correct and have complied in all material respects with all applicable Healthcare Laws, (ii) all clinical and pre-clinical
      trials, if any, of investigational Products have been and are being conducted by the Credit Parties and their Subsidiaries in material accordance with all applicable Healthcare Laws along with appropriate monitoring of clinical investigator trial
      sites for their compliance, and (iii) the Credit Parties and their Subsidiaries have disclosed to the Agent all such material regulatory filings and all material communications between representatives of the Credit Parties (and their Subsidiaries)
      and any Regulatory Authority.

     

    (c)         The Credit Parties, their Subsidiaries and the agents thereof are and for the past three (3) years have been in compliance in all material respects with all applicable statutes, rules and
      regulations (including all Healthcare Laws and Regulatory Authorizations) of all applicable Governmental Authorities, including the FDA and all other Regulatory Authorities, with respect to each Product and all Product Development and
      Commercialization Activities related thereto.

     

    (d)        Except as set forth on Schedule 6.19(d), no Credit Party nor any of its Subsidiaries has received from any Regulatory Authority any material written notice of non-compliance,
      potential non-compliance or adverse findings with respect to any Product or any Product Development and Commercialization Activities related thereto, including any FDA Form 483, notices of violations or potential violations, Warning Letters, untitled
      letters, criminal proceeding notices under Section 305 of the FD&C Act, or any other similar communication from any Regulatory Authority within the last three (3) years.  Except as set forth on Schedule 6.19(d), there have been no
      recalls, market withdrawals, field notifications or corrections, detentions, seizures, notifications or allegations of misbranding or adulteration or safety alerts conducted, requested, or threatened by any Regulatory Authority, or (for example in
      the case of a recall) initiated by Credit Party or any of its Subsidiaries, relating to any Products within the last five (5) years.  No Credit Party nor any of its Subsidiaries has received any written notification that remains unresolved from the
      FDA or any other Regulatory Authority indicating any material breach or violation of any applicable Regulatory Authorization, including that any of the Products are misbranded or adulterated as defined in the FD&C Act, or the rules and
      regulations promulgated thereunder, within the last five (5) years.

     

    (e)        No Credit Party, nor any of its Subsidiaries, nor any officer, employee or agent thereof, has made an untrue statement of a material fact or fraudulent statements to the FDA or any other
      Regulatory Authority, failed to disclose a material fact required to be disclosed to the FDA or any other Regulatory Authority, or committed an act, made a statement, or failed to make a statement that, at the time such disclosure was made (or was
      not made), could reasonably be expected to provide a basis for the FDA or any other Regulatory Authority to invoke its policy respecting Fraud, Untrue Statements of Material Facts, Bribery and Illegal Gratuities, set forth in 56 Fed. Reg. 46191
      (September 10, 1991) or any similar policy.

     

    
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    (f)         Except as set forth on Schedule 6.19(f), no Credit Party nor any of its Subsidiaries has received any written notice that the FDA or any other applicable Regulatory Authority has
      commenced or initiated, or threatened to commence or initiate, any action to withdraw any Regulatory Authorization, requested a recall of any Products or commenced or initiated or threatened to commence or initiate, any action to enjoin any Product
      Development and Commercialization Activities of such Credit Party or such Subsidiary.

     

    (g)          Except as set forth on Schedule 6.19(g), the clinical, preclinical, safety and other studies and tests conducted by or on behalf of or sponsored by the Credit Parties and their
      Subsidiaries, or in respect of which any Products or Product candidates under development have participated, were (and if still pending, are) being conducted in material accordance with all applicable Regulatory Authorizations and Healthcare Laws.

     

    (h)        The transactions contemplated by the Loan Documents (or contemplated by the conditions to effectiveness of any Loan Document) will not impair any Credit Party’s or any of its Subsidiaries’
      ownership of or rights under (or the license or the right to use, as the case may be) any Regulatory Authorizations relating to the Products in any material manner, and no consent or other authorization of any Governmental Authority is required in
      connection with the transactions contemplated hereby, including the Liens granted in connection herewith and the exercise of rights and remedies with respect thereto.

     

    SECTION 6.20   Transactions with Affiliates.  Except as set forth on Schedule 6.20, no Credit Party and none of its Subsidiaries has entered into, renewed, extended or been a
      party to, any transaction (including the purchase, sale, lease, transfer or exchange of property or assets of any kind or the rendering of services of any kind) with any Affiliate during the three (3)-year period prior to the Closing Date, which
      would not be permitted pursuant to Section 8.11.

     

    SECTION 6.21  Investment Company Act.  No Credit Party and none of its Subsidiaries is an “investment company” or is “controlled” by an “investment company,” as such terms are defined in, or
      subject to regulation under, the Investment Company Act of 1940, as amended.

     

    SECTION 6.22   OFAC.  No Credit Party, any of its Subsidiaries, any Related Party, any of their respective directors, officers, or employees nor any agents or other persons acting on behalf
      of any of the foregoing (a) is currently the target of any Sanctions, (b) is located, organized or residing in any Designated Jurisdiction, (c) is or has been (within the previous five (5) years) engaged in any transaction with, or for the benefit
      of, any Person who is now or was then the target of Sanctions or who is located, organized or residing in any Designated Jurisdiction or (d) is or has ever been in violation of or subject to an investigation relating to Sanctions.  No Loans, and none
      of the proceeds from the Loans, have been or will be used, directly or indirectly, to lend, contribute or provide to, or has been or will be otherwise made available to fund, any activity or business in any Designated Jurisdiction or to fund any
      activity or business of any Person located, organized or residing in any Designated Jurisdiction or who is the subject of any Sanctions, or in any other manner that will result in any violation by any Person (including the Agent, any Lender and its
      and their respective Affiliates) of Sanctions.

     

    
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    SECTION 6.23   Anti-Corruption.  No Credit Party, any of its Subsidiaries, any Related Party, or any of their respective directors, officers, or employees or any agents or other persons
      acting on behalf of any of the foregoing, directly or indirectly, has (a) violated or is in violation of any applicable anti-corruption law, (b) made, offered to make, promised to make or authorized the payment or giving of, directly or indirectly,
      any Prohibited Payment or (c) been subject to any investigation by any Governmental Authority with regard to any actual or alleged Prohibited Payment.

     

    SECTION 6.24   Deposit and Disbursement Accounts.  Schedule 6.24 contains a list of all banks and other financial institutions at which any Credit Party or any of its Subsidiaries
      maintains deposit accounts, lockboxes, disbursement accounts, investment accounts or other similar accounts, and Schedule 6.24 correctly identifies the name, address and telephone number of each bank or financial institution, the name in
      which the account is held, the type of account, and the complete account number therefor. Each such account (other than each Excluded Account) is a Controlled Account.

     

    SECTION 6.25  Registration Rights.  Except as set forth on Schedule 6.25, no Credit Party and none of its Subsidiaries has granted or agreed to grant any registration rights,
      including piggyback rights, to any Person.

     

    SECTION 6.26  Royalty and Other Payments.  Except as set forth on Schedule 6.26, no Credit Party and none of its Subsidiaries is obligated to pay any royalty, milestone payment,
      deferred payment or any other contingent payment in respect of any Product.

     

    SECTION 6.27  Sale and Leaseback.  No Credit Party and none of its Subsidiaries has entered, directly or indirectly, into any agreement or arrangement providing for the sale or transfer by it
      of any property (now owned or hereafter acquired) to a Person and the subsequent lease or rental of such property or other similar property from such Person.

     

    SECTION 6.28  Senior Secured Obligations.  The Obligations constitute the sole senior secured obligations and sole Indebtedness (except as set forth in Schedule 8.2(c)) of the Credit
      Parties and their Subsidiaries as of the time of receipt of the Closing Date Loans on the Closing Date.

     

    SECTION 6.29   Beneficial Ownership Certification.  The information included in the Beneficial Ownership Certification is true and correct in all respects.

     

    SECTION 6.30    Supply and Manufacturing.

     

    (a)      To the knowledge of the Credit Parties, the Products have at all times been manufactured in sufficient quantities and of a sufficient quality to satisfy demand of the Products, without the
      occurrence of any event causing inventory of the Products to have become exhausted prior to satisfying such demand or any other event in which the manufacture and release to the market of the Products does not satisfy the sales demand for the
      Products and which has resulted in, or could reasonably be expected to result in, a Material Adverse Effect.

     

    (b)       To the knowledge of the Credit Parties, no manufacturer of any Product is currently subject to a Form 483 that prevents the manufacturing, testing, and release of such Product and that,
      with respect to any such Form 483, all scientific and technical violations or other issues relating to good manufacturing practice requirements documented therein, and any disputes regarding any such violations or issues, have been corrected or
      otherwise resolved.

     

    
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    ARTICLE VII

    AFFIRMATIVE COVENANTS

     

    The Credit Parties hereby jointly and severally covenant and agree for the benefit of the Agent and the Lenders that, until the Termination Date has occurred, the Credit Parties will perform or cause
      to be performed by each of their respective Subsidiaries, as applicable, the obligations set forth below.

     

    SECTION 7.1    Financial Information, Reports, Notices, Etc.  The Borrower will furnish the Agent copies of the following financial statements, reports, notices and information:

     

    (a)         as soon as available and in any event within forty-five (45) days after the end of each Fiscal Quarter (excluding the last Fiscal Quarter of each Fiscal Year), an unaudited consolidated
      balance sheet of the Borrower and its Subsidiaries as of the end of such Fiscal Quarter, and consolidated statements of income and cash flow of the Borrower and its Subsidiaries for such period, including (in each case), in comparative form the
      figures for the corresponding Fiscal Quarter in, and year to date portion of, the immediately preceding Fiscal Year, certified as complete and correct by the chief financial or accounting Authorized Officer of the Borrower and its Subsidiaries
      (subject to normal year-end audit adjustments); provided that such financial statements, reports and information shall be deemed to be furnished to the Agent upon uploading such statements, reports and information publicly to EDGAR prior to
      the date that is forty-five (45) days after the end of such Fiscal Quarter;

     

    (b)         as soon as available and in any event within ninety (90) days after the end of each Fiscal Year, a copy of the consolidated balance sheet of the Borrower and its Subsidiaries, and the
      related consolidated statements of income and cash flow of the Borrower and its Subsidiaries for such Fiscal Year, setting forth in comparative form the figures for the immediately preceding Fiscal Year, audited (without any Impermissible
      Qualification) by independent public accountants acceptable to the Agent, which shall include a calculation of the financial covenants set forth in Section 8.4 and stating that, in performing the examination necessary to deliver the audited
      financial statements of the Borrower, no knowledge was obtained of any Event of Default; provided that such financial statements, reports and information shall be deemed to be furnished to the Agent upon uploading such statements, reports and
      information publicly to EDGAR prior to the date that is ninety (90) days after the end of such Fiscal Year;

     

    (c)       (i) within ten (10) days after the end of each calendar month, a Compliance Certificate, executed by the chief financial or accounting Authorized Officer of the Borrower, showing compliance
      with the financial covenant set forth in Section 8.4(a) and (ii) concurrently with the delivery of the financial information required to be delivered pursuant to clauses (a) and (b) above, a Compliance Certificate, executed by
      the chief financial or accounting Authorized Officer of the Borrower, (x) showing compliance with the financial covenant set forth in Section 8.4(b), (y) stating that no Default has occurred and is continuing (or, if a Default has occurred,
      specifying the details of such Default and the action that the Borrower or any of its Subsidiaries has taken or proposes to take with respect thereto) and (z) stating that no Subsidiary has been formed or acquired since the delivery of the last
      Compliance Certificate (or, if a Subsidiary has been formed or acquired since the delivery of the last Compliance Certificate, a statement that such Subsidiary has complied with Section 7.8);

     

    (d)         as soon as available and in any event within sixty (60) days after the end of each Fiscal Year, an annual budget, a business plan and financial forecasts of the Borrower and its
      Subsidiaries for the then-current Fiscal Year of the Borrower, in form and substance as approved by the board of directors (or equivalent) of the Borrower, which shall include a projection of income and a projected cash flow statement for each Fiscal
      Quarter in such Fiscal Year and a projected balance sheet as of the end of each Fiscal Quarter in such Fiscal Year, in each case prepared in reasonable detail, with appropriate presentation and discussion (in reasonable detail) of the principal
      assumptions upon which such budgets and projections are based, which shall be accompanied by the statement of an Authorized Officer of the Borrower to the effect that such budget and projections are based on reasonable and good faith estimates and
      assumptions made by the management of the Borrower for the respective periods covered thereby;

     

    
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    (e)       as soon as possible and in any event within five (5) Business Days after the Borrower obtains knowledge of the occurrence of a Default, a statement of an Authorized Officer of the Borrower
      setting forth details of such Default, event or occurrence and the action which the Borrower has taken and proposes to take with respect thereto;

     

    (f)       as soon as possible and in any event within five (5) Business Days after the Borrower obtains knowledge of (i) the occurrence of any material adverse development with respect to any
      litigation, action, proceeding or labor controversy described in Schedule 6.7(a) and in the following clause (ii), (ii) the commencement of any litigation, action, proceeding or labor controversy of the type and materiality described
      in Section 6.7 or alleging actual violations of any Healthcare Laws or (iii) notice of or the occurrence of, as applicable, any communications or activity of the type described in Sections 6.19(d), (e) or (f), notice
      thereof and, to the extent the Agent or any Lender requests, copies of all material documentation relating thereto;

     

    (g)       as soon as possible and in any event within five (5) Business Days after the Borrower obtains knowledge of any return, recovery, dispute or claim related to any Product or inventory that
      involves more than $2,500,000, written notice thereof from an Authorized Officer of the Borrower which notice shall include any statement setting forth details of such return, recovery, dispute or claim;

     

    (h)        as soon as possible and in any event within five (5) Business Days after becoming aware of (i) the institution of any formal steps by any Person to terminate any Pension Plan, (ii) the
      failure of a Credit Party or any Subsidiary thereof to make a required contribution to any Pension Plan if such failure is sufficient to give rise to a Lien such Credit Party or such Subsidiary under Section 303(k) of ERISA or under Section 430(k) of
      the Code, (iii) the taking of any action with respect to a Pension Plan which could reasonably be expected to result in the requirement that any such Person furnish a bond or other security to the PBGC or such Pension Plan, or (iv) the occurrence of
      any ERISA Event or event with respect to any Pension Plan which could reasonably be expected to result in the incurrence by a Credit Party or any of its Subsidiaries of any material liability, fine or penalty, notice thereof and copies of all
      documentation relating thereto, written notice thereof from an Authorized Officer of the Borrower, which notice shall include a statement setting forth details of such events;

     

    (i)          promptly upon receipt thereof, copies of all “management letters” (or equivalent) submitted to the Borrower or any of its Subsidiaries by the independent public accountants referred to
      in Section 7.1(b) in connection with each audit made by such accountants; and

     

    (j)          such other financial and other information as the Agent or any Lender may from time to time reasonably request (including information and reports in such detail as the Agent or any
      Lender may request with respect to the terms of and information provided pursuant to the Compliance Certificate).

     

    SECTION 7.2    Maintenance of Existence; Compliance with Contracts, Laws, Etc.  Each Credit Party will, and will cause each of its Subsidiaries to, (i) preserve and maintain its legal
      existence (except as otherwise permitted by Section 8.8), (ii) perform in all material respects its obligations under Material Agreements to which it is a party, and (iii) comply in all material respects with all applicable Laws, rules,
      regulations and orders, including all Healthcare Laws and the payment (before the same become delinquent) of all Taxes imposed upon such Credit Party or such Subsidiary or upon its property, except to the extent being diligently contested in good
      faith by appropriate proceedings and for which adequate reserves in accordance with GAAP have been set aside on the books of such Credit Party or such Subsidiary.

     

    
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    SECTION 7.3    Maintenance of Properties.  Each Credit Party will, and will cause each of its Subsidiaries to, maintain, preserve, protect and keep its respective properties in good repair,
      working order and condition (ordinary wear and tear excepted), and make necessary material repairs, renewals and replacements so that the business carried on by such Credit Party or such Subsidiary may be properly conducted at all times, unless the
      Disposition of such property is otherwise permitted by Section 8.8 or Section 8.9.

     

    SECTION 7.4   Insurance.  Each Credit Party will, and will cause each of its Subsidiaries to, maintain:

     

    (a)      insurance on its property with financially sound and reputable insurance companies against loss and damage in at least the amounts (and with only those deductibles) customarily maintained,
      and against such risks as are typically insured against in the same general area, by Persons of comparable size engaged in the same or similar business as such Credit Party or such Subsidiary; and

     

    (b)          all worker’s compensation, employer’s liability insurance or similar insurance as may be required under the laws of any state or jurisdiction in which it may be engaged in business.

     

    Without limiting the foregoing, all insurance policies required pursuant to this Section shall (i) name the Agent, for the benefit of the Secured Parties, as mortgagee (in the case of property
      insurance) or loss payee or additional insured (in the case of liability insurance), as applicable, and provide that no cancellation or material modification of the policies will be made without the prior written notice to the Agent and (ii) be in
      addition to any requirements to maintain specific types of insurance contained in the other Loan Documents. If any Credit Party or any of its Subsidiaries fails to provide or pay for any such insurance, the Agent may but is not obligated to, obtains
      the same at such Credit Party’s or such Subsidiary’s expense.

     

    SECTION 7.5   Books and Records.  Each Credit Party will, and will cause each of its Subsidiaries to, keep books and records that accurately reflect all of its business affairs and
      transactions and permit the Agent, any Lenders or any of their respective representatives, at reasonable times and intervals upon reasonable notice to the Borrower, to visit such Credit Party’s or such Subsidiary’s offices, to discuss such Credit
      Party’s or such Subsidiary’s financial matters with its officers and employees, and its independent public accountants (and the Credit Parties hereby authorize such independent public accountant to discuss such Credit Party’s or such Subsidiary’s
      financial matters with the Agent, any Lenders or any of their respective representatives whether or not any representative of such Credit Party or such Subsidiary, as applicable, is present) and to examine (and photocopy extracts from) any of its
      books and records.  The Credit Parties will, and will cause each of their Subsidiaries to, pay all fees and expenses of the Agent or such Lender, including any fees of such independent public accountant incurred in connection with the Agent’s or any
      Lender’s exercise of its rights pursuant to this Section; provided, however, that in the absence of a Default and an Event of Default, the Credit Parties shall not be responsible for the costs associated with more than one such visit or
      inspection during any Fiscal Year.

     

    SECTION 7.6     Environmental Law Covenant.  Each Credit Party will, and will cause each of its Subsidiaries to, (i) use and operate all of its and their businesses, facilities and properties
      in material compliance with all Environmental Laws, and keep and maintain all Environmental Permits and remain in compliance therewith and (ii) promptly notify the Agent of, and provide the Agent with copies of all material claims, complaints,
      notices or inquiries relating to, any actual or alleged non-compliance with any Environmental Laws or Environmental Permits or any actual or alleged Environmental Liabilities. Each Credit Party will, and will cause each of its Subsidiaries to,
      promptly resolve, remedy and mitigate any such non-compliance or Environmental Liabilities, and shall keep the Agent informed as to the progress of same.

     

    
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    SECTION 7.7     Use of Proceeds.  Proceeds of the Loans shall be used only (i) to refinance in full the existing debt of the Credit Parties, (ii) to advance the commercial sales of the
      Borrower’s FDA-approved products through the procurement of raw materials for the manufacturing of BIVIGAM® and ASCENIVTM, (iii) to expand the Borrower’s plasma
      collection facility network, (iv) to scale the manufacturing capacity of the Boca Facility and make continuous improvements thereto in order to adhere to cGMP compliance, (v) to explore business development opportunities, (vi) to acquire inventory,
      (vii) for general corporate purposes and (viii) to pay transaction costs and expenses under the Loan Documents.

     

    SECTION 7.8      Future Guarantors, Security, Etc.  Each Credit Party agrees that:

     

    (a)          it will, and will cause each of its Subsidiaries, existing as of the Closing Date to, execute any documents, Mortgages and Mortgage Instruments, UCC-1 financing statements, UCC-3
      termination statements, agreements and instruments, and take all further action that may be required under applicable Law, or that the Agent may reasonably request, in order to effectuate the transactions contemplated by the Loan Documents and in
      order to grant, preserve, protect and perfect the validity and first priority (subject to Permitted Liens) of the Liens created or intended to be created by the Loan Documents; including, without limitation, actions in any non-U.S. jurisdiction or
      required by the laws of any non-U.S. jurisdiction to create any security interests in assets of the Credit Parties located or titled outside of the United States or to perfect or make enforceable any security interests in any Collateral;

     

    (b)        it will cause each of its Subsidiaries that is acquired or organized by it after the Closing Date, on or within thirty (30) days of such acquisition or organization (or such longer period
      as the Agent may agree in its sole discretion), to (i) execute a supplement (in form and substance satisfactory to the Agent (acting on the instructions of the Majority Lenders acting reasonably)) to each applicable Loan Document (including the
      Security Agreement, the Intercompany Subordination Agreement, the Patent Security Agreement, the Trademark Security Agreement, the Copyright Security Agreement and other security documents, and the Subsidiary Guaranty) in favor of the Agent and the
      other Secured Parties, (ii) execute or deliver such other UCC-1 financing statements, UCC-3 termination statements, documents, Mortgages, Mortgage Instruments and Leasehold Mortgages, agreements and instruments as the Agent may reasonably request,
      and (iii) take all further action that may be required under applicable Law, or that the Agent may reasonably request, in order to effectuate the transactions contemplated by the Loan Documents and in order to grant, preserve, protect and perfect the
      validity and first priority (subject to Permitted Liens) of the Liens created or intended to be created by the Loan Documents; provided that no Mortgage or Mortgage Instruments will be required with respect to any real property having a fair
      market value of less than $1,250,000;

     

    (c)         it will promptly notify the Agent of any real property subsequently (i) acquired by it or any of its Subsidiaries and will provide the Agent with a description of such real property, the
      acquisition date thereof and the purchase price therefor, and if reasonably requested by the Agent, execute and deliver Mortgages and Mortgage Instruments in order to grant perfected and first priority Liens on such real property and (ii) leased by
      it or any of its Subsidiaries and will provide the Agent with a description of such real property, a copy of the lease agreement therefor, and if reasonably requested by the Agent, execute and deliver Leasehold Mortgages in order to grant perfected
      and first priority Liens on such real property, Landlord Consents and/or SNDAs; provided that no Mortgage or Mortgage Instruments will be required with respect to any real property having a fair market value of less than $1,250,000;

     

    (d)           it will, and will cause each of its Subsidiaries to, at its cost and expense, promptly secure the Obligations by pledging or creating, or causing to be pledged or created, perfected
      Liens with respect to such of its assets and properties as the Agent shall designate, it being agreed that it is the intent of the parties that the Obligations shall at all times be secured by, among other things, substantially all the assets of
      Credit Parties and such Subsidiaries (including personal property acquired subsequent to the Closing Date), in each case, located in the United States and in any non-U.S. jurisdiction;

     

    
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    (e)        it will, and will cause each of its Subsidiaries, to, at its cost and expense, promptly upon acquisition, filing or issuance of any Patent, Trademark, Copyright, Product Agreement or other
      Material Intellectual Property anywhere in the world, notify the Agent of such acquisition, filing or issuance of any Patent, Trademark, Copyright, Product Agreement or other Material Intellectual Property and execute a supplement (in form and
      substance satisfactory to the Agent (acting on the instructions of the Majority Lenders acting reasonably)) to each applicable Loan Document (including the Security Agreement, the Copyright Security Agreement, the Patent Security Agreement, the
      Trademark Security Agreement and other security documents); and

     

    (f)       all Liens described above in this Section 7.8 will be created under the Loan Documents in form and substance satisfactory to the Agent (acting on the instructions of the Majority
      Lenders acting reasonably), and each Credit Party will, and will cause each of its Subsidiaries to, deliver or cause to be delivered to the Agent all such instruments and documents (including legal opinions and lien searches) as the Agent shall
      reasonably request to evidence compliance with this Section 7.8.

     

    SECTION 7.9     Obtaining of Permits, Etc.  With respect to Products, each Credit Party will, and will cause each of its Subsidiaries to, obtain, maintain and preserve, and take all necessary
      action to timely renew all Permits (including Key Permits) and accreditations which are necessary in the proper conduct of its business.

     

    SECTION 7.10   Product Licenses.  Each Credit Party will, and will cause each of its Subsidiaries to, (i) maintain each Permit, including each Regulatory Authorization, from, or file any
      notice or registration in, each jurisdiction in which such Credit Party or such Subsidiary is required to obtain any Permit or Regulatory Authorization or to file any notice or registration, in order to sell or distribute the Products and (ii) upon
      request of the Agent, promptly provide evidence of same to the Agent.

     

    SECTION 7.11   Maintenance of Regulatory Authorizations, Contracts, Intellectual Property, Etc.  With respect to the Products, each Credit Party will, and will cause each of its Subsidiaries
      to, (i) maintain in full force and effect all Regulatory Authorizations, contract rights, or other rights necessary for the operations of its business, (ii) notify the Agent, promptly after learning thereof, of any Product recalls, safety alerts,
      corrections, withdrawals, marketing suspensions, removals or the like conducted, to be undertaken or issued by such Credit Party, such Subsidiary or its respective suppliers whether or not at the request, demand or order of any Governmental Authority
      or otherwise with respect to any Product, or any basis for undertaking or issuing any such action or item, (iii) maintain in full force and effect, and pay all costs and expenses relating to, all Material Intellectual Property owned or Controlled by
      such Credit Party or such Subsidiary and all Material Agreements, (iv) notify the Agent, promptly after learning thereof, of any infringement or other violation by any Person of its Intellectual Property and aggressively pursue any such infringement
      or other violation except in any specific circumstances where both (x) such Credit Party or such Subsidiary is able to demonstrate that it is not commercially reasonable to do so and (y) not doing so does not materially adversely affect any Product,
      (v) use commercially reasonable efforts to pursue and maintain in full force and effect legal protection for all new Intellectual Property developed or Controlled by such Credit Party or such Subsidiary, (vi) notify the Agent, promptly after learning
      thereof, of (x) any claim by any Person that the conduct of such Credit Party’s or such Subsidiary’s business (including the development, manufacture, use, sale or other commercialization of any Product) infringes any Intellectual Property of such
      Credit Party or such Subsidiary and, if requested by the Agent, use commercially reasonable efforts to resolve such claim, or (y) any event, circumstance, act or omission that could reasonably be expected to cause any representation or warranty
      contained in Section 6.19 to be incorrect in any material respect if such representation or warranty was to be made at the time such Credit Party or such Subsidiary learned of such event, circumstance, act or omission and (vii) notify the
      Agent, promptly after learning thereof, if any Patents constituting Material Intellectual Property are challenged or found invalid by any relevant Governmental Authority.

     

    
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    SECTION 7.12   Cash Management.  Each Credit Party will, and will cause each of its Subsidiaries to:

     

    (a)        maintain all deposit accounts, disbursement accounts, investment accounts (and other similar accounts) and lockboxes (other than Excluded Accounts) with a bank or financial institution
      that has executed and delivered to the Agent a Controlled Account Agreement in form and substance reasonably acceptable to the Agent; each such deposit account, disbursement account, investment account (or similar account) and lockbox (each, a “Controlled

        Account”) shall be a cash collateral account, with all cash, checks and other similar items of payment in such account securing payment of the Obligations, and the Credit Parties shall have granted a Lien to the Agent, for the benefit of the
      Secured Parties, over such Controlled Accounts; and

     

    (b)        deposit promptly, and in any event no later than (i) five (5) Business Days after the date of receipt thereof, all cash, checks, drafts or other similar items of payment relating to or
      constituting payments made in respect of any and all accounts and other rights and interests into Controlled Accounts; and

     

    (c)       at any time after the occurrence and during the continuance of an Event of Default, at the request of the Agent, the Credit Parties and their Subsidiaries will cause all payments
      constituting proceeds of accounts to be directed into lockbox accounts under Controlled Account Agreements in form and substance satisfactory to the Agent.

     

    SECTION 7.13    Post-Closing Covenants.

     

    (a)        Notices of Commencement.  As soon as possible, but in no event later than the earlier of (i) the date that is forty-five (45) days following the Closing Date and (ii) the date on
      which Stewart Title Company (“Stewart”), as the title insurance company, is prepared to issue the Boca Facility Title Policy, the Credit Parties shall have delivered to the Agent and Stewart all applicable documents necessary to evidence the
      termination of the Notices of Commencement identified on Schedule 7.13(a), including, but not limited to (i) owner’s affidavits identifying all parties who gave notice to owner, (ii) contractor’s final affidavits, together with final waiver
      and releases of liens from each of the subcontractors and materialmen who gave notice to owner or who are listed as unpaid in the contractor’s final affidavits, (iii) terminations of notice of commencement in compliance with Section 713.132, Florida
      Statutes and (iv) final lien waiver and releases from the general contractor(s).

     

    (b)         Environmental Matters.  As soon as possible but in no event later than forty-five (45) days following the Closing Date, the Credit Parties shall deliver to the Agent a Phase I
      Environmental Site Assessment Report and such other reports, in form, scope and substance satisfactory to the Agent, and certified to the Agent and Lenders (“Environmental Reports”) regarding environmental matters relating to the Boca
      Facility. In the event that any Environmental Report identifies any environmental issues and/or recommendations to address such issues, the Credit Parties shall implement the recommendations as stated in such Environmental Report and shall deliver
      documentation in form, scope and substance that is satisfactory to the Agent demonstrating that the identified environmental issues have been addressed.

     

    (c)      Survey.  As soon as possible but in no event later than forty-five (45) days following the Closing Date, the Credit Parties shall deliver to the Agent a 2021 ALTA/NSPS Land Title
      Survey prepared by a licensed surveyor reasonably satisfactory to the Agent and Stewart, in form, scope and substance satisfactory to Agent, certified to the Agent, Lenders and Stewart and sufficient to remove the standard title survey exceptions
      (the “Survey”) for the Boca Facility.

     

    
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    (d)          Property Zoning Report.  As soon as possible but in no event later than forty-five (45) days following the Closing Date, the Credit Parties shall deliver to the Agent a zoning
      report, in form, scope and substance satisfactory to the Agent, and certified to the Agent and Lenders (the “PZR”) for the Boca Facility.

     

    (e)      Title Insurance Policy; Mortgage.  Within forty-five (45) days following the Closing Date, and subject to the consent of the Agent, the Credit Parties shall have (i) caused the
      Mortgage for the Boca Facility to be properly recorded in the public records of Palm Beach County, (ii) caused the UCC-1 financing statement relating to the Boca Facility to be filed with the Secretary of State of the State of Delaware, (iii) caused
      the ALTA mortgagee title insurance policy in a form acceptable to the Agent to be issued with respect to the Boca Facility and insuring the first priority lien of the Mortgage encumbering the Boca Facility (the “Boca Facility Title Policy”)
      and (iv) delivered such other Mortgage Instruments as required by the Agent or Stewart in connection with the Mortgage.

     

    (f)          Landlord Lien Waivers.  Within ninety (90) days following the Closing Date, the Credit Parties shall use commercially reasonable efforts to deliver the Landlord Consents from the
      landlords under the leases listed on Schedule 7.13(f).

     

    (g)         SNDAs.  Within ninety (90) days following the Closing Date (or such later date as may be consented to by the Agent in its sole discretion), the Credit Parties shall use
      commercially reasonable efforts to deliver subordination, non-disturbance and attornment agreements in form, scope and substance satisfactory to the Agent (each, an “SNDA”) with respect to the leased locations listed on Schedule 7.13(g)
      or written confirmation, including via email, from the landlords under the leases for such leased locations that there is no mortgage, deed of trust or other security interest encumbering the premises on which such leased locations are located.

     

    (h)          Leasehold Mortgages.

     

    (i)            As soon as possible but in no event later than thirty (30) days following the Closing Date, the Credit Parties shall have delivered confirmation to the Agent of whether Home Center
      Properties, LLC, a Georgia limited liability company (the “Marietta Landlord”) intends to consent to the granting of a Leasehold Mortgage with respect to that certain leased real property located at 166 Ernest W. Barrett Parkway, NW, Marietta,
      GA (the “Marietta Facility”).

     

    (ii)         In the event that the Marietta Landlord consents to the granting of a Leasehold Mortgage, as soon as possible but in no event later (y) than forty-five (45) days following the date of
      such confirmation, the Credit Parties shall have delivered to Agent a leasehold title insurance commitment, Survey, Environmental Report and PZR with respect to the Marietta Facility in form and substance reasonably satisfactory to the Agent and (z)
      one hundred twenty (120) days following the date of such confirmation a Leasehold Mortgage with respect to the Marietta Facility. In the event that any Environmental Report identifies any environmental issues and/or recommendations to address such
      issues, the Credit Parties shall implement the recommendations as stated in such Environmental Report and shall deliver documentation in form, scope and substance that is satisfactory to the Agent demonstrating that the identified environmental
      issues have been addressed.

     

    (iii)       In the event that the Marietta Landlord rejects the request for a Leasehold Mortgage, then as soon as possible but in no event later than ninety (90) days following such rejection, the
      Credit Parties shall use commercially reasonable efforts to deliver to the Agent a Landlord Consent and SNDA with respect to the Marietta Facility.

     

    
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    (i)        Intellectual Property.  Within ninety (90) days following the Closing Date, the Borrower shall record assignments in the United States Patent and Trademark Office and the United
      States Copyright Office, as and to the extent applicable, to assign all Material Intellectual Property to one or more Subsidiary Guarantor, and shall provide evidence to the Agent of submission of such recordations.

     

    (j)         Certain Material Agreements.  Within one hundred eighty (180) days following the Closing Date, the Borrower shall use commercially reasonable efforts assign all of its
      rights and obligations under each Material Agreement listed on Schedule 7.13(j) to the applicable Subsidiary Guarantor listed on such schedule, and shall provide evidence to the Agent of such assignment; provided that no such
      assignment shall be required (x) to the extent the Borrower, in its business or commercial judgment, believes that such Material Agreement cannot be assigned without such assignment giving rise to federal, state or other governmental regulatory,
      legal, compliance or commercial risks or concerns or (y) as otherwise agreed by the Agent in writing; provided, further, that if the Borrower’s board of directors (the “Board”) determines that the Borrower’s performance of the
      covenant contained in this Section 7.13(j) would be inconsistent with the Board’s fiduciary duties under applicable Law, this Section 7.13(j) shall not apply.

     

    ARTICLE VIII

    NEGATIVE COVENANTS

     

    The Credit Parties hereby jointly and severally covenant and agree for the benefit of the Agent and the Lenders that until the Termination Date has occurred unless the Majority Lenders shall
      otherwise consent in writing, the Credit Parties will perform or cause to be performed by each of their respective Subsidiaries, as applicable, the obligations set forth below.

     

    SECTION 8.1    Business Activities.  No Credit Party will, nor will it permit any of its Subsidiaries to, engage in any business activity except those business activities engaged in on
      the date of this Agreement and activities reasonably related, incidental or complimentary thereto.

     

    SECTION 8.2     Indebtedness.  No Credit Party will, nor will it permit any of its Subsidiaries to, create, incur, assume or permit to exist any Indebtedness, other than the following (“Permitted

        Indebtedness”):

     

    (a)          Indebtedness in respect of the Obligations;

     

    (b)       unsecured Indebtedness of any Credit Party pursuant to Hedging Agreements entered into in such Credit Party’s ordinary course of business for the purpose of hedging currency risks or
      interest rate risks (and not for speculative purposes) and in an aggregate notional amount for all such Hedging Agreements not in excess of $500,000;

     

    (c)       unsecured Indebtedness existing as of the Closing Date which is identified in Schedule 8.2(c);

     

    (d)        purchase money Indebtedness and Capitalized Lease Liabilities incurred by any Credit Party in an aggregate amount at any time outstanding, when combined with the aggregate principal amount
      of all Indebtedness incurred pursuant to Section 8.2(i), not to exceed $1,000,000;

     

    

    
      
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      (e)       Indebtedness (i) arising from customary agreements for indemnification related to sales of goods (ii) representing deferred compensation to employees of a Credit
        Party or any of its Subsidiaries incurred in the ordinary course of business consistent with past practice, and (iii) representing customer deposits and advance payments received in the ordinary course of business from customers for goods purchased
        in the ordinary course of business;

       

      (f)      Indebtedness incurred in connection with cash management services, including treasury, depository, overdraft, credit or debit card, purchasing cards, electronic funds transfer, automatic
        clearing house arrangements, cash pooling arrangements, netting services, merchant services and other similar arrangements of Borrower or any Subsidiary, in each case in the ordinary course of business; provided that at no time shall such
        Indebtedness exceed $500,000 in the aggregate;

       

      (g)        unsecured Indebtedness in the nature of account or trade payables originated in the ordinary course of business;

       

      (h)       (i) intercompany Indebtedness of any Credit Party or owing to another Credit Party subject to the Intercompany Subordination Agreement and (ii) unsecured guarantees of outstanding
        Permitted Indebtedness made in the ordinary course of business by the Borrower or any other Credit Party of obligations of any Credit Party permitted hereunder in an aggregate amount not to exceed $500,000 at any time outstanding; provided
        that to the extent that any such Permitted Indebtedness is subordinated to the Obligations, such guarantees are similarly subordinated;

       

      (i)       (i) Indebtedness of the Borrower or any Subsidiary Guarantor incurred to finance the acquisition, construction or improvement of any fixed or capital assets; provided that (x)
        such Indebtedness is incurred prior to or within two hundred seventy (270) days after such acquisition or the completion of such construction or improvement and (y) the aggregate principal amount of Indebtedness permitted by this Section 8.2(i),
        when combined with the aggregate principal amount of all purchase money Indebtedness and Capitalized Lease Liabilities incurred pursuant to Section 8.2(d), does not exceed $1,000,000 at any time outstanding and (ii) extensions, renewals,
        refinancings and replacements thereof; provided that no such extension, renewal, refinancing or replacement shall result in an increase in the outstanding principal amount of such Indebtedness;

       

      (j)        Indebtedness incurred in connection with letters of credit that are secured solely by cash or cash equivalents and issued on behalf of the Borrower in an aggregate amount outstanding not
        to exceed $750,000 at any time;

       

      (k)      Indebtedness at any time incurred in connection with financing insurance premiums in respect of insurance policies insuring assets or businesses of any Credit Party written or arranged in
        the ordinary course of business consistent with past practice, in each case, in an aggregate amount at any time outstanding not to exceed $5,000,000; and

       

      (l)        other unsecured Indebtedness in an aggregate amount not to exceed $2,500,000. provided that, no
          Indebtedness otherwise permitted by clauses (d) or (i) of this Section 8.2 shall be assumed, created or otherwise incurred if at the time of such assumption, creation or incurrence, a Default has occurred and is then
          continuing or could reasonably be expected to result therefrom.

       

      SECTION 8.3          Liens.  No Credit Party will, nor will it permit any of its
        Subsidiaries to, create, incur, assume or permit to exist any Lien upon any of its property (including Capital Securities of any Person), revenues or assets, whether now owned or hereafter acquired, except for the following (“Permitted Liens”):

       

      
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      (a)        Liens securing payment of the Obligations;

       

      (b)        Liens existing on the Closing Date which are disclosed in Schedule 8.3(b);

       

      (c)        Liens in favor of carriers, warehousemen, mechanics, materialmen and landlords granted in the ordinary course of business for amounts not overdue or being diligently contested in good
        faith by appropriate proceedings and for which adequate reserves in accordance with GAAP shall have been set aside on its books;

       

      (d)        Liens incurred or deposits made in the ordinary course of business in connection with worker’s compensation, unemployment insurance or other forms of governmental insurance or benefits,
        or to secure performance of tenders, statutory obligations, bids, leases or other similar obligations (other than for borrowed money) entered into in the ordinary course of business or to secure obligations on surety and appeal bonds or performance
        bonds;

       

      (e)        judgment Liens in existence for less than thirty (30) days after the entry thereof or with respect to which execution has been stayed or the payment of which is covered in full (subject
        to a customary deductible) by insurance maintained with responsible insurance companies and which do not otherwise result in an Event of Default under Section 9.1(f);

       

      (f)        easements, rights-of-way, zoning restrictions, minor defects or irregularities in title and other similar encumbrances not interfering in any material respect with the value or use of
        the property to which such Lien is attached;

       

      (g)       Liens for Taxes not yet due and payable or being diligently contested in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP shall have been set
        aside on its books;

       

      (h)        purchase money security interests in real property, improvements thereto, equipment or other assets hereafter acquired (or, in the case of improvements, constructed) by the Borrower or
        any Subsidiary Guarantor; provided that (i) such security interests secure Indebtedness permitted by Section 8.2(d) or Section 8.2(i), (ii) such security interests are incurred, and the Indebtedness secured thereby is
        created, within two hundred seventy (270) days after such acquisition (or construction) (or in the case of the first or any successive extensions, renewals or refinancings of the underlying Indebtedness, such security interests are incurred and the
        security is created within thirty (30) days after the incurrence of such new Indebtedness), (iii) the Indebtedness secured thereby does not exceed the cost of such real property, improvements or equipment at the time of such acquisition (or
        construction) and (iv) such security interests do not apply to any other property or assets of the Borrower or any Subsidiary;

       

      (i)        any interest or title of a lessor under any lease entered into by the Borrower or any of its Subsidiaries as lessees in the ordinary course of business and
        covering only the assets so leased;

       

      (j)        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; and

       

      (k)        Liens arising solely by virtue of any statutory or common law provision relating to bankers’ liens, rights of set-off or similar rights.

       

      SECTION 8.4     Financial Covenants.

       

      
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      (a)         Minimum Liquidity.  The Credit Parties shall maintain at all times Liquidity in an amount equal to or greater than $6,000,000.

       

      (b)       Minimum Net Sales. As of the last day of each Fiscal Quarter set forth below, Net Sales for the twelve (12) consecutive month period ending on the last day of such Fiscal Quarter
        shall not be less than the corresponding amount set forth opposite such Fiscal Quarter:

       

      	
              Fiscal Quarter Ending

            	 	
              Net Sales

            	 
	
              June 30, 2022

            	 	
              $

            	
              75,000,000

            	 
	
              September 30, 2022

            	 	
              $

            	
              75,000,000

            	 
	
              December 31, 2022

            	 	
              $

            	
              90,000,000

            	 
	
              March 31, 2023

            	 	
              $

            	
              90,000,000

            	 
	
              June 30, 2023

            	 	
              $

            	
              110,000,000

            	 
	
              September 30, 2023

            	 	
              $

            	
              110,000,000

            	 
	
              December 31, 2023

            	 	
              $

            	
              130,000,000

            	 
	
              March 31, 2024

            	 	
              $

            	
              130,000,000

            	 
	
              June 30, 2024

            	 	
              $

            	
              150,000,000

            	 
	
              September 30, 2024

            	 	
              $

            	
              150,000,000

            	 
	
              December 31, 2024

            	 	
              $

            	
              175,000,000

            	 
	
              March 31, 2025

            	 	
              $

            	
              175,000,000

            	 
	
              June 30, 2025

            	 	
              $

            	
              200,000,000

            	 
	
              September 30, 2025

            	 	
              $

            	
              200,000,000

            	 
	
              December 31, 2025

            	 	
              $

            	
              215,000,000

            	 
	
              March 31, 2026

            	 	
              $

            	
              215,000,000

            	 
	
              June 30, 2026

            	 	
              $

            	
              230,000,000

            	 
	
              September 30, 2026

            	 	
              $

            	
              230,000,000

            	 
	
              December 31, 2026 and each Fiscal Quarter thereafter

            	 	
              $

            	
              250,000,000

            	 

      

      

      SECTION 8.5    Investments.  No Credit Party will, nor will it permit any of its Subsidiaries to, purchase, make, incur, assume or permit to exist any Investment in any other Person, except
        (“Permitted Investments”):

       

      (a)        Investments existing on the Closing Date and identified in Schedule 8.5(a);

       

      (b)        any purchase or other acquisition by the Borrower or any other Credit Party of assets or of the Capital Securities of any Subsidiary of the Borrower or such other Credit Party that
        becomes a Credit Party hereunder, in each case, acquired pursuant to a Permitted Acquisition;

       

      (c)        Cash Equivalent Investments;

       

      (d)       Investments received in connection with the bankruptcy or reorganization of, or settlement of delinquent accounts and disputes with, customers and suppliers, in each case in the ordinary
        course of business;

       

      (e)        Investments consisting of any deferred portion of the sales price received by a Credit Party or any of its Subsidiaries in connection with any Disposition permitted under Section 8.9;

       

      
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      (f)         Investments in and loans to any Credit Party;

       

      (g)       Investments constituting (i) accounts receivable arising, (ii) trade debt granted, or (iii) deposits made in connection with the purchase price of goods or services, in each case in the
        ordinary course of business;

       

      (h)        employee loans, travel advances and guarantees in accordance with the Borrower’s usual and customary practices with respect thereto (if permitted by applicable Laws) which in the
        aggregate shall not exceed $750,000 outstanding at any time;

       

      (i)       cash deposits in the Donor Accounts provided that, at any given time, the aggregate account balance of all Donor Accounts shall not exceed $1,000,000; and

       

      (j)         Investments permitted pursuant to Section 8.23.

       

      SECTION 8.6    Restricted Payments, Etc.  No
        Credit Party will, nor will it permit any of its Subsidiaries to, declare or make a Restricted Payment, or make any deposit for any Restricted Payment, other than:

       

      (a)        Restricted Payments made by Subsidiaries of the Borrower to the Borrower;

       

      (b)        dividends with respect to the Borrower’s Capital Securities payable solely in shares of its Qualified Capital Securities (or the equivalent thereof);

       

      (c)        the Borrower’s purchase, redemption, retirement, or other acquisition of shares of its Capital Securities with the proceeds received from a substantially concurrent issue of new shares
        of its Qualified Capital Securities; and

       

      (d)       dividends paid by any Subsidiary Guarantor to any other Credit Party (other than the Borrower or any Subsidiary that is required to become a Subsidiary Guarantor but has not yet done so).

       

      SECTION 8.7    Issuance of Capital Securities. No Credit Party will, nor will it permit any of its Subsidiaries to, issue any Capital Securities (whether for value or otherwise) to any
        Person other than:

       

      (a)        in the case of Subsidiaries of the Credit Parties, Qualified Capital Securities issued to a Credit Party so long as such issuance could not reasonably be expected to result in a Default
        or an Event of Default; and

       

      (b)       the issuance of Qualified Capital Securities of the Borrower so long as such issuance could not reasonably be expected to result in an Event of Default.

       

      SECTION 8.8     Consolidation, Merger, Etc.  No Credit Party will, nor will it permit any of its Subsidiaries to, liquidate or
        dissolve, consolidate with, or merge or amalgamate into or with, any other Person, or purchase or otherwise acquire any other Person or all or substantially all of the assets of any other Person (or any division thereof) (other than a Permitted
        Acquisition), except that so long as no Default or Event of Default has occurred and is continuing (or could reasonably be expected to occur) any Subsidiary (other than the Borrower) of a Credit Party may liquidate or dissolve voluntarily into, and
        may merge or amalgamate with and into, a Credit Party; provided, that such Credit Party is the surviving entity; and provided, further, that immediately following any such merger or amalgamation, the Credit Parties directly or
        indirectly hold the same or greater percentage of the issued and outstanding Capital Securities of such Subsidiary as the Credit Parties held immediately prior to such merger or amalgamation.

       

      
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      SECTION 8.9    Permitted Dispositions.  No Credit Party will, nor will it permit any of its Subsidiaries to, Dispose of any of its assets (including accounts receivable and Capital
        Securities) to any Person in one transaction or series of transactions except for Permitted Dispositions.

       

      SECTION 8.10  Modification of Certain Agreements. 

        No Credit Party will, nor will it permit any of its Subsidiaries to, amend, supplement, waive or otherwise modify, consent to any amendment, supplement, waiver or other modification of, or enter into any forbearance from exercising any rights with
        respect to the terms or provisions contained in (i) any Organic Documents of a Credit Party or any of its Subsidiaries that could reasonably be expected to result in a Material Adverse Effect or in a manner that could
        reasonably be expected to be adverse to the interests of the Agent or any of the Lenders without the consent of the Agent or (ii) any Material Agreement, Product Agreement or any documents relating thereto, in any such case
        in this clause (ii), in a manner that could be adverse to the interests of the Agent or any of the Lenders without the consent of the Agent. No Credit Party will, nor will it permit any of its Subsidiaries to, amend or otherwise modify, or
        waive any rights under, any other document, instrument or agreement if, in any such case, such amendment, modification or waiver could be adverse to the interests of the Agent or any of the Lenders without the consent of the Agent.

       

      SECTION 8.11   Transactions with Affiliates.  No Credit Party will, nor will it permit any of its Subsidiaries to, enter into or cause or permit to exist any arrangement, transaction or
        contract (including for the purchase, lease or exchange of property or the rendering of services) with any of its other Affiliates, unless such arrangement, transaction or contract (i) is on fair and reasonable terms no less favorable to such
        Credit Party or such Subsidiary than it could obtain in an arm’s-length transaction with a Person that is not an Affiliate, (ii) is of the kind which would be entered into by a prudent Person in the position of such Credit Party or such Subsidiary
        with a Person that is not one of its Affiliates and (iii) the value of such arrangements, transactions and contracts in the aggregate do not exceed $500,000 on an annual basis.

       

      SECTION 8.12   Restrictive Agreements, Etc.  No Credit Party will, nor will it permit any of its Subsidiaries to, enter into any
        agreement (i) prohibiting the creation or assumption of any Lien upon its properties, revenues or assets, whether now owned or hereafter acquired, or limiting in any way granting to the Secured Parties (or any of them) a Lien on any of its assets,
        (ii) restricting the ability of a Credit Party or any of its Subsidiaries to amend or otherwise modify any Loan Document, (iii) containing any provision which could reasonably be expected to be violated or breached by a party hereunder by the
        performance by such party of any of its obligations hereunder or under any other Loan Document, (iv) encumbering or restricting the ability of a Credit Party or any of its Subsidiaries to (a) make any payments, directly or indirectly, to the
        Borrower, including by way of dividends, advances, repayments of Indebtedness owed to the Borrower, reimbursements of management and other intercompany charges, expenses and accruals or other returns on investments, (b) make loans or advances to
        the Borrower or (c) transfer any of its assets or properties to the Borrower.  The foregoing prohibitions shall not apply to restrictions contained in (x) any Loan Document or (y) in the case of clause (i), any agreement governing any
        Indebtedness permitted by clause (e) of Section 8.2 as to the assets financed with the proceeds of such Indebtedness.

       

      SECTION 8.13   Sale and Leaseback.  No Credit Party will, nor will it permit any of its Subsidiaries to, directly or indirectly enter into any agreement or
        arrangement providing for the sale or transfer by it of any property (now owned or hereafter acquired) to a Person and the subsequent lease or rental (whether by it or any Credit Party or any of their Subsidiaries) of such property or other similar
        property from such Person.

       

      SECTION 8.14  Product Sales.  No Credit Party will, nor will it permit any of its Subsidiaries to, sell or distribute Products or permit any sale or distribution
        where a Credit Party or any of its Subsidiaries is required to obtain any Permit, or to file any notice or registration in any jurisdiction prior to any such sale or distribution, in each case, until such Credit Party or such Subsidiary has
        obtained such required Permit or filed such notice or registration.

       

      
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      SECTION 8.15   Outbound Licenses.

       

      (a)       No Credit Party will, nor will it permit any of its Subsidiaries to, on or after the Closing Date, grant any license to any Intellectual Property other than a license that is not
        perpetual, is entered into for the purpose of Product Development and Commercialization Activities and:

       

      (i)          is in the ordinary course of business, on commercially reasonable terms, is consistent with past practice;

       

      (ii)          is (A) on a non-exclusive basis or (B) on an exclusive basis so long as each such exclusive license is limited to a particular geographic area (other than the U.S.);

       

      (iii)          will not prevent, restrict or otherwise impair such Credit Party’s or such Subsidiary’s or the Agent’s ability to use or otherwise monetize such Intellectual Property;

       

      (iv)          will not prevent or impair the ability of the Agent or the Lenders from fully exercising their rights under any of the Loan Documents in the event of a disposition or liquidation
        (including in connection with a foreclosure) of the rights, assets or properties that are the subject of such license; and

       

      (v)          will not prevent, restrict or otherwise impair the Agent’s ability to assume such Credit Party’s or such Subsidiary’s rights under such license.

       

      SECTION 8.16   Inbound Licenses.

       

      No Credit Party will, nor will it permit any of its Subsidiaries to, enter into or become or remain bound by any inbound license agreement requiring any such Person, (a) during any twelve (12)
        month period during the term of such license agreement, to make aggregate payments in excess of $2,500,000 when taken together with all other inbound licenses agreements of any such Credit Party and all of its respective Subsidiaries (determined on
        a consolidated basis) or (b) on or prior to the Maturity Date, to make aggregate payments in excess of $2,500,000 when taken together with all other payments which may become payable on or prior to the Maturity Date pursuant to all other inbound
        license agreements of any such Credit Party and all of its respective Subsidiaries (determined on a consolidated basis).

       

      SECTION 8.17  Change in Name, Location, Executive Office, or Executive Management; Change in Fiscal Year.  No Credit Party will, nor will it permit any of its Subsidiaries to, (i) change
        its legal name or any trade name used to identify it in the conduct of its business or ownership of its properties, (ii) change its jurisdiction of organization or legal structure, (iii) relocate its chief executive office, principal place of
        business or any other office in which it maintains books or records relating to its business (including the establishment of any new office or facility), (iv) change its federal taxpayer identification number or organizational number (or
        equivalent) without ten (10) days’ prior written notice to the Agent, (v) replace its chief financial officer without ten (10) days’ prior written notice to the Agent or (vi) change its Fiscal Year or any of its Fiscal Quarters.

       

      SECTION 8.18  Negative Pledge.  No Credit Party will, nor will it permit any of its Subsidiaries to, create, permit or suffer to exist any Lien (whether such
        interest is based on common law, statute, other law or contract and whether junior or equal or superior in priority to the security interests and Liens created by the Loan Documents) upon any of its property (including Capital Securities of any
        Person), revenues or assets, whether now owned or hereafter acquired, except Permitted Liens. No Credit Party will, nor will it permit any of its Subsidiaries to, incur senior secured obligations other than the Obligations incurred hereunder.

       

      
        68

        
          

      

      SECTION 8.19    Sanctions.

       

      (a)       No Credit Party will, and no Credit Party will permit any of its Affiliates to, use any proceeds of the Loans for the purpose of: (i) providing financing to or otherwise making funds
        directly or indirectly available to any Sanctioned Person, or (ii) providing financing to or otherwise funding any transaction which would be prohibited by Sanctions or would otherwise cause the Agent or any of the Lenders to be in breach of any
        Sanction.

       

      (b)        No Credit Party will, and no Credit Party will permit any of its Affiliates to, fund any repayment of the credit with proceeds derived from any transaction that would be prohibited by
        Sanctions or would otherwise cause the Agent or any of the Lenders to be in breach of any Sanction.

       

      SECTION 8.20   USRPHC Status.  No Credit Party will, nor will it permit any of its Subsidiaries to, become a “United States real property holding corporation” within the meaning of Section
        897(c)(2) of the Code.

       

      SECTION 8.21   Hazardous Materials.  No Credit Party will, nor will it permit any of its Subsidiaries to, cause or suffer to exist a Release of any Hazardous Material at, on, under, to or
        from any real estate that would violate any Environmental Law, form the basis for any Environmental Liabilities or otherwise adversely affect the value or marketability of any real estate (whether or not owned by any Credit Party or any Subsidiary
        of any Credit Party), other than such violations, Environmental Liabilities and effects that would not, in the aggregate, reasonably be expected to result in a material liability.

       

      SECTION 8.22  Passive Holding Company.  Following the Closing Date and prior to the Termination Date, the Borrower will use commercially reasonable efforts to not conduct, transact or
        otherwise engage in any active trade or business or operations (collectively, “Business Operations”); provided that the foregoing will not prohibit the Borrower from the following: (i) the maintenance of its legal existence and
        obligations that are incidental thereto (including the ability to incur reasonable fees, costs, expenses and other liabilities directly relating to such maintenance), (ii) obligations that are limited to obligations under the Loan Documents to
        which it is a party, (iii) the making of contributions to (or other equity investments in) its direct Subsidiaries, which contributions shall be subordinated to the Obligations, (iv) participating in tax, accounting and other administrative and
        fiduciary matters as a direct owner of its direct Subsidiaries, in accordance with the terms of the Loan Documents, (v) providing customary compensation, indemnification and insurance coverage to officers and directors (or equivalent), (vi) subject
        to Sections 7.13(i) and (j), the ownership of assets, employment of employees and performance of Material Agreements owned, employed or existing, as applicable, as of the date hereof and all activities incidental or related thereto,
        (vii) obtaining, maintaining and performing Permits and Regulatory Authorizations from Governmental Authorities, (viii) owning cash or cash equivalents, (ix) making any public offering of its common stock or any other issues of its common stock,
        (x) engaging in payment of dividends not otherwise prohibited by the Loan Documents, (xi) providing indemnification to officers and directors, (xii) employing employees or engaging independent contractors, and (xiii) conducting any Business
        Operations (and any activities that are incidental or related thereto) that the Borrower in its business or commercial judgment determines is necessary, reasonable or appropriate for the operation of the Borrower’s business, including entering into
        any contract or agreement; provided, further, that if the Board determines that the Borrower’s performance of the covenant contained in this Section 8.22 would be inconsistent with the Board’s fiduciary duties under applicable Law,
        this Section 8.22 shall not apply.

       

      
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      SECTION 8.23     Blood Center Acquisitions/Investments.  No Credit Party will, nor will it permit any of its Subsidiaries to make acquisitions, payments, Investments or capital expenditures
        in respect of the buildout, construction, acquisition or lease (other than leases existing as of the Closing Date, in the form existing as of the Closing Date) of blood plasma collection centers in the United States (each, a “Blood Center
          Acquisition/Investment”), other than Blood Center Acquisitions/Investments made by any Subsidiary Guarantor; provided that immediately prior to, and after giving effect thereto, no Default or Event of Default shall have occurred and
        be continuing or could reasonably be expected to result therefrom on a pro forma basis after giving effect to such acquisition, and the Borrower and its Subsidiaries shall be (i) in compliance with the most recent financial covenant tests set forth
        in each of Section 8.4(a) and 8.4(b) and (ii) projected by the Company (in good faith and based on reasonable assumptions) to be in compliance with the financial covenants set forth in each of Section 8.4(a) and 8.4(b)
        on each date in the twelve (12) months following such acquisition; provided further that (A) the costs of such Blood Center Acquisitions/Investments do not (and are not projected in the aggregate prior to the Maturity Date to) exceed
        $12,000,000 in the aggregate since the Closing Date, (B) the Borrower shall have provided the Agent not less than thirty (30) days’ written notice prior to the commencement or consummation, as the case may be, of each such Blood Center
        Acquisitions/Investments, (C) the Borrower shall have provided to the Agent all documentation relating to each such Blood Center Acquisition/Investment as the Agent shall reasonably request and (D) prior to the commencement or consummation, as the
        case may be, of each such Blood Center Acquisition/Investment the Borrower shall have taken, and shall have caused each other Credit Party and any Subsidiary thereof, as applicable, to have taken, all such action, including without limitation the
        execution and delivery to the Agent of all documentation as the Agent shall reasonably request to perfect the Agent’s first priority security interest in all assets (including, without limitation, Mortgages, Leasehold Mortgages and Landlord
        Consents in respect of real property) in which the Borrower, any Credit Party or any of their respective Subsidiaries has an interest or will acquire an interest in connection with each such Blood Center Acquisition/Investment.

       

      ARTICLE IX

        EVENTS OF DEFAULT

       

      SECTION 9.1    Listing of Events of Default.  Each of the following events or occurrences described in this Article shall
        constitute an “Event of Default”.

       

      (a)         Non-Payment of Obligations.  (i) The Borrower shall default in the payment or prepayment when due of any principal or interest on the Loans, or (ii) any Credit Party or any
        Subsidiary thereof, shall default in the payment or prepayment of any fee described in Article III or any other monetary Obligation, and in the case of clause (ii) such default shall continue unremedied for a period of five (5)
        Business Days after such amount was due.

       

      (b)         Breach of Representation or Warranty.  Any representation or warranty made or deemed to be made by a Credit Party or its Subsidiaries in any Loan Document (including any
        certificates delivered pursuant to Article V) is or shall be incorrect in any material respect when made or deemed to have been made or, in the case of any representation or warranty that, by its terms, is qualified by materiality, Material
        Adverse Effect or similar qualification, such representation or warranty is or shall be incorrect in any respect when made or deemed made.

       

      (c)        Non-Performance of Certain Covenants and Obligations.  A Credit Party or any of its Subsidiaries shall default in the due performance or observance of any of its obligations
        under Sections 7.1(a), 7.1(b), 7.1(c), 7.7, 7.8, 7.11 or 7.12 or Article VIII.

       

      
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      (d)        Non-Performance of Other Covenants and Obligations. A Credit Party or any of its Subsidiaries shall default in the due performance and observance of any other covenant,
        obligation or agreement contained in any Loan Document (other than any default of the type contemplated by any other subsection of this Section 9.1) executed by it, and such default shall continue unremedied for a period of thirty (30) days
        after the earlier to occur of (i) notice thereof given to the Borrower by the Agent or the Majority Lenders or (ii) the date on which a Credit Party or any of its Subsidiaries has knowledge of such default.

       

      (e)        Default on Other Indebtedness.  A default shall occur in the payment of any amount when due (subject to any applicable grace period), whether by acceleration or otherwise, of any
        principal or stated amount of, or interest or fees on, any Indebtedness (other than Indebtedness permitted under Section 8.2(a)) of any Credit Party or any of its Subsidiaries having a principal or stated amount, individually or in the
        aggregate, in excess of $2,500,000, or a default shall occur in the performance or observance of any obligation or condition with respect to such Indebtedness if the effect of such default is to accelerate the maturity of any such Indebtedness or such default shall continue unremedied for any applicable period of time sufficient to permit the holder or holders of such Indebtedness, or any trustee or agent for such holders, to cause or declare such
        Indebtedness to become due and payable or to require such Indebtedness to be prepaid, redeemed, purchased or defeased, or require an offer to purchase or defease such Indebtedness to be made, prior to its expressed maturity.

       

      (f)          Judgments.  Any judgment or order for the payment of money individually or in the aggregate in excess of $2,500,000 (exclusive of any amounts fully covered by insurance (less
        any applicable deductible) and as to which the insurer has acknowledged its responsibility to cover such judgment or order) shall be rendered against any Credit Party or any of its Subsidiaries and such judgment shall not have been vacated or
        discharged or stayed or bonded pending appeal within thirty (30) days after the entry thereof or enforcement proceedings shall have been commenced by any creditor upon such judgment or order.

       

      (g)         Change in Control.  Any Change in Control shall occur.

       

      (h)         Bankruptcy, Insolvency, Etc.  Any Credit Party or any of its Subsidiaries shall:

       

      (i)          become insolvent or generally fail to pay, or admit in writing its inability or unwillingness generally to pay, debts as they become due;

       

      (ii)          apply for, consent to, or acquiesce in the appointment of a trustee, receiver, sequestrator or other custodian for any substantial part of the property
        of any thereof, or make a general assignment for the benefit of creditors;

       

      (iii)          in the absence of such application, consent or acquiescence in or permit or suffer to exist the appointment of a trustee, receiver, sequestrator or
        other custodian for a substantial part of the property of any thereof, and such trustee, receiver, sequestrator or other custodian shall not be discharged within sixty (60) days; provided that, the Credit Parties and their Subsidiaries
        hereby expressly authorize the Agent to appear in any court conducting any relevant proceeding during such sixth (60) day period to preserve, protect and defend its rights under the Loan Documents;

       

      (iv)          permit or suffer to exist the commencement of any bankruptcy, reorganization, debt arrangement or other case or proceeding under any bankruptcy or
        insolvency law or any dissolution, winding up or liquidation proceeding, in respect thereof, and, if any such case or proceeding is not commenced by a Credit Party or any of its Subsidiaries, such case or proceeding shall be consented to or
        acquiesced in by a Credit Party or any of its Subsidiaries or shall result in the entry of an order for relief or shall remain for sixty (60) days undismissed; provided that, the Credit Parties and their Subsidiaries hereby expressly
        authorize the Agent to appear in any court conducting any such case or proceeding during such sixty (60) day period to preserve, protect and defend its rights under the Loan Documents; or

       

      
        71

        
          

      

      (v)          take any action authorizing, or in furtherance of, any of the foregoing in clause (ii), (iii) or (iv) above.

       

      (i)          Impairment of Security, Etc.  Any Loan Document or any Lien granted thereunder shall (except in accordance with its terms), in whole or in part,
        terminate, cease to be effective or cease to be the legally valid, binding and enforceable obligation of a Credit Party or any of its Subsidiaries party thereto; any Credit Party or any of its Subsidiaries shall, directly or indirectly, contest in
        any manner such effectiveness, validity, binding nature or enforceability; or, except as permitted under any Loan Document, any Lien securing any Obligation shall, in whole or in part, cease to be a perfected first priority Lien, except to the
        extent that any such loss of perfection results from the failure of the Agent to maintain possession of certificates actually delivered to or representing securities pledged under this Agreement or any other Loan Documents.

       

      (j)          Material Adverse Effect.  Any circumstance occurs that has or could reasonably be expected to have a Material Adverse Effect.

       

      (k)        Regulatory Matters.  If any of the following events or circumstances occur: (i) the FDA or the Department of Justice (DOJ) on its behalf, or any other Governmental Authority (A)
        makes a final determination that any Product lacks a required Regulatory Authorization or otherwise takes a regulatory or enforcement action that until and unless successfully resolved through Credit Party responsive action and remediation, dispute
        resolution, appeal, or other action prohibits or enjoins, the commercial distribution of Product by Credit Party under the then-held Regulatory Authorization, or (B) enters a consent decree with respect to, any Credit Party or any of its
        Subsidiaries or any of their Products that causes such Credit Party or such Subsidiary to discontinue operating in any applicable jurisdiction or (ii) any Credit Party or any of its Subsidiaries enters into a settlement agreement with the FDA and
        DOJ or any other Governmental Authority that results in aggregate liability as to any single or related series of transactions, incidents or conditions, in excess of $2,500,000.

       

      (l)          Pension Plans.  Any of the following events shall occur with respect to any Pension Plan:

       

      (i)          the institution of any steps by any Credit Party or any Subsidiary thereof to terminate a Pension Plan if, as a result of such termination, any such Credit Party or any such
        Subsidiary could reasonably be expected to be required to make a contribution to such Pension Plan, or could reasonably expect to incur a liability or obligation to such Pension Plan;

       

      (ii)          a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien on any Credit Party or any ERISA Affiliate under Section 303(k) of ERISA or under
        Section 430(k) of the Code that would reasonably be expected to result in a Material Adverse Effect; or

       

      (iii)          any ERISA Event shall occur that, when taken together with all other ERISA Events that have
        occurred, could reasonably be expected to result in a Material Adverse Effect.

       

      (m)       Key Permit Events.  Any Key Permit or any Credit Party’s or any of its Subsidiaries’ material rights or interests thereunder is terminated or amended or
        determined, in each case, so as to be ineffective in any manner adverse to any of the Products or a Credit Party or any of its Subsidiaries in any manner that could be reasonably expected to be material and adverse to the interests of the Agent or
        any of the Lenders.

       

      
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      (n)        Material Agreements.  Any default or event of default shall occur under any Material Agreement, or any Material Agreement shall cease, for any reason, to be in full force and
        effect other than upon expiration thereof in accordance with its terms unless the Credit Party party thereto determines in the exercise of its good faith business judgment that termination thereof by Credit Party is not materially adverse to such
        Credit Party, or any party to any Material Agreement (other than a Credit Party) shall challenge or repudiate its obligations under such Material Agreement or the enforceability of such Material Agreement, in each case, to the extent that any such
        occurrence could be reasonably expected to be material and adverse to the interests of the Agent or any of the Lenders.

       

      SECTION 9.2     Action if Bankruptcy.  If any Event of Default described in Section 9.1(h) with respect to any Credit Party or any of its Subsidiaries
        shall occur, and the outstanding principal amount of the Loans and all other Obligations shall automatically be and become immediately due and payable, without notice, demand or presentment to or on any Person.

       

      SECTION 9.3     Action if Other Event of Default.  If any Event of Default (other than any Event of Default described in Section 9.1(h)) shall occur for any reason, whether
        voluntary or involuntary, and be continuing, the Agent or the Majority Lenders may, by notice to the Borrower declare all or any portion of the outstanding principal amount of the Loans and other Obligations to be due and payable whereupon the full
        unpaid amount of the Loans and other Obligations which shall be so declared due and payable shall be and become immediately due and payable, without further notice, demand or presentment to or on any Person.

       

      ARTICLE X 

        ADMINISTRATIVE AGENT

       

      SECTION 10.1          Appointment.  Each of the Lenders hereby irrevocably appoints Hayfin Services LLP to act on its behalf as the Agent hereunder and under the
        other Loan Documents and authorizes the Agent to take such actions on its behalf and to exercise such powers as are delegated to the Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. 
        The provisions of this Article X are solely for the benefit of the Agent and the Lenders, and neither any Credit Party nor any of its respective Subsidiaries will have rights as a third-party beneficiary of any of such provisions.  It is
        understood and agreed that the use of the term “agent” herein or in any other Loan Documents (or any other similar term) with reference to the 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 as a matter of market custom and is intended to create or reflect only an administrative relationship between contracting parties.

       

      SECTION 10.2          Rights as a Lender.  The Person serving as the Agent hereunder will 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 Agent, and the term “Lender” or “Lenders” will, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Agent hereunder in its
        individual capacity.  Such Person and its Affiliates may accept deposits from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity for, and generally engage in any kind of business with, the Borrower or
        any of its Affiliates as if such Person were not the Agent hereunder and without any duty to account therefor to the Lenders.

       

      SECTION 10.3          Exculpatory Provisions.

       

      (a)          The Agent will not have any duties or obligations except those expressly set forth herein and in the other Loan Documents, and its duties hereunder are administrative in nature. 
        Without limiting the generality of the foregoing, the Agent:

       

      
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      (i)          will not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing;

       

      (ii)        will not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan
        Documents that the Agent is required to exercise as directed in writing by the Majority Lenders (or such other number or percentage of the Lenders as will be expressly provided for herein or in the other Loan Documents); provided that the
        Agent will not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Agent to liability or that is contrary to any Loan Document or applicable Law, including for the avoidance of doubt any action that may
        be in violation of the automatic stay under any debtor relief law; and

       

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

       

      (b)        The Agent will not be liable for any action taken or not taken by it (i) with the consent or at the request of the Majority Lenders (or such other number or percentage of the Lenders as
        will be necessary, or as the Agent believes in good faith will be necessary, under the circumstances as provided in Sections 9.2, 9.3, and 11.1) or (ii) in the absence of its own gross negligence or willful misconduct as
        determined by a court of competent jurisdiction by final and nonappealable judgment.  The Agent will be deemed not to have knowledge of any Default or Event of Default unless and until notice describing such Default or Event
        of Default is given to the Agent in writing by the Borrower or a Lender.

       

      (c)        The Agent will not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or any
        other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or
        conditions set forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document or (v) the
        satisfaction of any condition set forth in Article V or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Agent.

       

      SECTION 10.4    Reliance by Agent.  The Agent will be entitled to rely upon, and will 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) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person.  The
        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 will not incur any liability for relying thereon.  In determining compliance with any condition hereunder to the
        making of the Loans that by its terms must be fulfilled to the satisfaction of a Lender, the Agent may presume that such condition is satisfactory to such Lender unless the Agent has received notice to the contrary from such Lender prior to the
        making of such Loans.  The Agent may consult with legal counsel (who may be counsel for the Borrower or any of its Affiliates), independent accountants and other experts selected by it, and will not be liable for any action taken or not taken by it
        in accordance with the advice of any such counsel, accountants or experts.

       

      
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      SECTION 10.5      Delegation of Duties.  The Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any other Loan
        Document by or through any one or more sub-agents appointed by the Agent.  The Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective Affiliates.  The exculpatory
        provisions of this Article X will apply to any such sub-agent and to the Affiliates of the Agent and any such sub-agent and will apply to their respective activities in connection with the syndication of the facility as well as activities
        as the Agent.  The Agent will not be responsible for the negligence or misconduct of any sub-agents except to the extent that a court of competent jurisdiction determines in a final and nonappealable judgment that the Agent acted with gross
        negligence or willful misconduct in the selection of such sub-agents.

       

      SECTION 10.6      Resignation of Agent.

       

      (a)        The Agent may at any time give notice of its resignation to the Lenders and the Borrower.  Upon receipt of any such notice of resignation, the Majority Lenders will have the right, with
        the consent of the Borrower (unless an Event of Default is in existence), to appoint a successor.  If no such successor will have been so appointed by the Majority Lenders and will have accepted such appointment within thirty (30) days after the
        retiring Agent gives notice of its resignation (or such earlier day as will be agreed by the Majority Lenders) (the “Resignation Effective Date”), then the retiring Agent may (but will not be obligated to), on behalf of the Lenders, appoint
        a successor Agent meeting the qualifications set forth above.  Whether or not a successor has been appointed, such resignation will become effective in accordance with such notice on the Resignation Effective Date.

       

      (b)         With effect from the Resignation Effective Date (i) the retiring Agent will be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in
        the case of any Collateral held by the Agent on behalf of the Lenders under any of the Loan Documents, the retiring Agent will continue to hold such Collateral until such time as a successor Agent is appointed) and (ii) except for any indemnity
        payments owed to the retiring Agent, all payments, communications and determinations provided to be made by, to or through the Agent will instead be made by or to each Lender directly, until such time, if any, as the Majority Lenders appoint a
        successor Agent as provided for above.  Upon the acceptance of a successor’s appointment as the Agent hereunder, such successor will succeed to and become vested with all of the rights, powers, privileges and duties of the retiring Agent (other
        than any rights to indemnity payments owed to the retiring Agent), and the retiring Agent will be discharged from all of its duties and obligations hereunder or under the other Loan Documents.  The fees payable by the Borrower to a successor Agent
        will be the same as those payable to its predecessor unless otherwise agreed among the Borrower and such successor.  After the retiring Agent’s resignation hereunder and under the other Loan Documents, the provisions of this Article X, Section

          11.3 and Section 11.4 will continue in effect for the benefit of such retiring Agent, its sub-agents and their respective Affiliates in respect of any actions taken or omitted to be taken by any of them while the retiring Agent was
        acting as the Agent.

       

      SECTION 10.7      Non-Reliance on Agent and Other Lenders.  Each Lender acknowledges that it has, independently and without reliance upon the Agent or any other
        Lender or any of their respective Affiliates 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 Agent or any other Lender or any of their respective Affiliates and based on such documents and information as it will from time to time deem appropriate, continue to make its own decisions in taking or
        not taking action under or based upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder.

       

      SECTION 10.8     Agent May File Proofs of Claim.  In case of the pendency of any insolvency proceeding or any other judicial proceeding
        relative to the Borrower, the Agent (irrespective of whether the principal of the Loans will then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Agent has made any demand on the Borrower) will
        be entitled and empowered (but not obligated), by intervention in such proceeding or otherwise:

       

      
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      (a)       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 hereunder or
        under any other Loan Document to file such other documents as may be necessary or advisable in order to have the claims of the Lenders and the Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the
        Lenders and the Agent and their respective agents and counsel and all other amounts due the Lenders and the Agent under Sections 3.9, 3.10, 3.11, 11.3 and 11.4) allowed in such
        judicial proceeding; and

       

      (b)      to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same; and any custodian, receiver, assignee, trustee, liquidator,
        sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender to make such payments to the Agent and, in the event that the Agent consents to the making of such payments directly to the Lenders, to pay
        to the Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Agent and its agents and counsel, and any other amounts due the Agent under Sections 3.9, 3.10, 3.11, 11.3 and
        11.4.

       

      SECTION 10.9       Collateral and Guaranty Matters.

       

      (a)         Without limiting the provisions of Section 10.8, the Lenders irrevocably authorize the Agent, at its option and in its discretion:

       

      (i)          to release any Lien on any property granted to or held by the Agent under any Loan Document (A) on the Termination Date (or such other date on which all Obligations then outstanding
        have been paid in full), (B) that is sold or otherwise disposed of or to be sold or otherwise disposed of as part of or in connection with any sale or other disposition permitted under the Loan Documents or (C) subject to Section 11.1, if
        approved, authorized or ratified in writing by the Majority Lenders; and

       

      (ii)          to release any Guarantor from its obligations under its Guaranty if such Person ceases to be a Subsidiary as a result of a transaction permitted under the Loan Documents.

       

      Upon request by the Agent at any time, the Majority Lenders will confirm in writing the Agent’s authority to release or subordinate its interest in particular types or items of Collateral, or to
        release any Guarantor from its obligations under its Guaranty pursuant to this Section 10.9.

       

      (b)        The Agent will not be responsible for or have a duty to ascertain or inquire into any representation or warranty regarding the existence, value or collectability of the Collateral, the
        existence, priority or perfection of the Agent’s Lien thereon, or any certificate prepared by the Borrower in connection therewith, nor will the Agent be responsible or liable to the Lenders for any failure to monitor or maintain any portion of the
        Collateral.

       

      (c)       The Agent is authorized on behalf of all the Lenders, without the necessity of any notice to or further consent from the Lenders, from time to time to take any action with respect to any
        Collateral or any Security Agreement which may be necessary to perfect and maintain perfected the Liens on the Collateral granted pursuant to any such Security Agreement or protect and preserve the Agent’s ability to enforce the Liens or realize
        upon the Collateral.

       

      SECTION 10.10          Erroneous Payments.

       

      
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      If a payment is made by the Agent (or its Affiliates) in error (whether known to the recipient or not) or if a Lender or another recipient of funds is not otherwise entitled to receive such funds
        at such time of such payment or from such Person in accordance with the Loan Documents, then such Lender or recipient shall forthwith on demand repay to the Agent the portion of such payment that was made in error (or otherwise not intended (as
        determined by the Agent) to be received) in the amount made available by the Agent (or its Affiliate) to such Lender or recipient, with interest thereon, for each day from and including the date such amount was made available by the Agent (or its
        Affiliate) to it to but excluding the date of payment to the Agent, at the greater of the Federal Funds Rate and a rate determined by the Agent in accordance with banking industry rules on interbank compensation; provided that, without
        limiting any other rights or remedies (whether at law or in equity), the Agent may not make any such demand under this Section 10.10 with respect to such payment unless such demand is made within sixty (60) days of the date of receipt of
        such payment by the applicable Lender. Each Lender and other party hereto waives the discharge for value defense in respect of any such payment.

       

      ARTICLE XI 

        MISCELLANEOUS PROVISIONS

       

      SECTION 11.1    Waivers, Amendments, Etc.  Except as otherwise provided
        herein or in any other Loan Document, (i) no amendment to any provision of this Agreement or any of the other Loan Documents will in any event be effective unless the same is in writing and signed by the Borrower (and/or any Guarantor or other
        party thereto, as applicable), the Agent and the Majority Lenders (or the Agent with the written consent of the Majority Lenders) and (ii) no waiver of any provision of this Agreement or any other Loan Document, or consent to any departure by a
        Credit Party, any of its Subsidiaries or other party therefrom, will in any event be effective unless the same is in writing and signed by the Agent and the Majority Lenders (or the Agent with the consent of the Majority Lenders).  Any such
        amendment, waiver or consent will be effective only in the specific instance and for the specific purpose for which given; provided that, notwithstanding the foregoing provisions of this Section 11.1, any term or provision of Article X
        (other than the provisions of Section 10.6 pertaining to the Borrower’s consent) may be amended without the agreement or consent of, or prior notice to, a Credit Party or any of its Subsidiaries; provided that such amendment does
        not add any additional obligations or burdens on such Credit Party or such Subsidiary.

       

      No failure or delay on the part of the Agent or the Lenders in exercising any power or right under any Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of
        any such power or right preclude any other or further exercise thereof or the exercise of any other power or right.  No notice to or demand on the Borrower or any other Subsidiary in any case shall entitle it to any notice or demand in similar or
        other circumstances.  No waiver or approval by the Agent or the Lenders under any Loan Document shall, except as may be otherwise stated in such waiver or approval, be applicable to subsequent transactions.  No waiver or approval hereunder shall
        require any similar or dissimilar waiver or approval thereafter to be granted hereunder.

       

      SECTION 11.2   Notices; Time.  All notices and other communications provided under any Loan Document
        shall be in writing or by facsimile and addressed, delivered or transmitted, if to the Borrower or the Agent, to the applicable Person at its address or facsimile number set forth on Schedule 11.2 hereto, or at such
        other address or facsimile number as may be designated by such party in a notice to the other parties.  Any notice, if mailed and properly addressed with postage prepaid or if properly addressed and sent by pre-paid courier service, shall be deemed
        given when received; any notice, if transmitted by facsimile or email, shall be deemed given when the confirmation of transmission thereof is received by the transmitter.  Unless otherwise indicated, all references to the time of a day in a Loan
        Document shall refer to New York City time.

       

      
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      SECTION 11.3    Payment of Costs and Expenses.  The Credit Parties agree to, jointly and severally, pay promptly on demand all expenses of the Agent and the Lenders (or any of them)
        (including the reasonable fees and out-of-pocket expenses of DLA Piper LLP (US), counsel to the Agent and the Lenders and of one local counsel in each relevant jurisdiction, if any, who may reasonably be retained by or on behalf of the Agent and
        the Lenders (or any of them)) in connection with:

       

      (a)       the negotiation, preparation, execution and delivery of (i) each Loan Document, including schedules and exhibits, whether or not the transactions contemplated hereby are consummated and
        (ii) any amendments, waivers, consents, supplements or other modifications to any Loan Document as may from time to time be entered into after the Closing Date;

       

      (b)       the filing or recording of any Loan Document (including any financing statements) and all amendments, supplements, amendment and restatements and other modifications to any thereof,
        searches made after the date hereof in jurisdictions where financing statements (or other documents evidencing Liens in favor of the Agent and the other Secured Parties) have been recorded and any and all other documents or instruments of further
        assurance required to be filed or recorded by the terms of any Loan Document; and

       

      (c)       the preparation and review of the form of any document or instrument relevant to any Loan Document, including any amendments or other modifications thereto.

       

      The Credit Parties agree to, jointly and severally, pay, and to save the Agent and the Lenders harmless from all liability for, any stamp or other taxes which may be payable in connection with the execution or
        delivery of each Loan Document, the Loans or the issuance of the Notes.  The Credit Parties also agree to reimburse the Agent and the Lenders upon demand for all reasonable and documented or invoiced out-of-pocket expenses (including reasonable
        attorneys’ fees and legal expenses of counsel to Agent and the Lenders (or any of them)) incurred by the Agent and the Lenders (or any of them) in connection with (i) the negotiation of any restructuring or “work-out” with the Borrower, whether or
        not consummated, of any Obligations and (ii) the enforcement of any Obligations.

       

      SECTION 11.4   Indemnification.  Reimbursement by the Borrower.

       

      (a)        In consideration of the execution and delivery of this Agreement by the Agent and the Lenders, the Credit Parties hereby, jointly and severally, indemnify, agree to defend, exonerate and
        hold the Agent, the Lenders and each of their respective officers, directors, employees and agents (collectively, the “Indemnified Parties”) free and harmless from and against any and all actions, causes of action, suits, losses, costs,
        liabilities, obligations and damages, and expenses incurred in connection therewith (irrespective of whether any such Indemnified Party is a party to the action for which indemnification hereunder is sought), including reasonable attorneys’ and
        professionals’ fees and disbursements, of one primary counsel for all Indemnified Parties (and, in the case of an actual or perceived conflict of interest where the Indemnified Party affected by such conflict notifies the Borrower of the existence
        of such conflict and thereafter retains its own counsel, another counsel for each such affected Indemnified Party), and one local counsel in each relevant jurisdiction, whether incurred in connection with actions between the parties hereto or the
        parties hereto and third parties (collectively, the “Indemnified Liabilities”), incurred by the Indemnified Parties or any of them as a result of, or arising out of, or relating to (i) the entering into and performance of any Loan Document
        by any of the Indemnified Parties or (ii) any Environmental Liability, any actual or alleged breach of or non-compliance with Environmental Laws or Environmental Permits, any Hazardous Materials, or any other decision, act, omission or matter
        relating to the environment, natural resources, health, safety or welfare; provided that such indemnity shall not, as to any Indemnified Party, be available to the extent that such Indemnified Liabilities (A) are determined by a court of
        competent jurisdiction by final and non-appealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnified Party, (B) result from a claim brought by any Credit Party against an Indemnified Party for breach in
        bad faith of such Indemnified Party’s obligations hereunder or under any other Loan Document, if such Credit Party has obtained a final and nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction or (C)
        result from a claim not involving an act or omission of any Credit Party and that is brought by an Indemnified Party against another Indemnified Party (other than against the Agent in its capacity as such).

       

      
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      (b)      If and to the extent that the foregoing indemnification may be unenforceable for any reason, the Credit Parties agree to, jointly and severally, make the maximum contribution to the
        payment and satisfaction of each of the Indemnified Liabilities which is permissible under applicable Law. To the fullest extent permitted by applicable Law, no party hereunder shall assert, and each hereby waives, any claim against any other party
        hereunder, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement
        or instrument contemplated hereby, the transactions contemplated hereby or thereby, or the use of the proceeds thereof.  No Indemnified Party shall be liable for any damages arising from the use by unintended recipients of any information or other
        materials distributed by it through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby.  All amounts due under
        this Section shall be payable promptly after demand therefor.  This Section 11.4 shall not apply to Taxes, other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim.

       

      (c)        Reimbursement by the Lenders.  To the extent that the Borrower for any reason fails to pay any amount required under Section 11.3 or subsection (a) of this
        Section to be paid by it to the Agent (or any sub-agent thereof) or any Affiliate thereof, each Lender severally agrees to pay to the Agent (or any such sub-agent) or such Affiliate, as the case may be, such Lender’s Pro Rata Share (determined as
        of the time that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s Pro Rata Share at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender); provided
        that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Agent (or any such sub-agent), or such Affiliate acting for the Agent (or any such
        sub-agent) in connection with such capacity.  The obligations of the Lenders under this subsection (b) are subject to the provisions of Section 11.6.

       

      SECTION 11.5    Survival.  The obligations of the Borrower under Section 4.1, Section 4.2, Section 4.3, Section 11.3, Section 11.4 and this Section

          11.5, shall in each case survive any assignment by the Lender and the occurrence of the Termination Date.  The representations and warranties made by the Borrower in each Loan Document shall survive the execution and delivery of such Loan
        Document.

       

      SECTION 11.6     Obligations Several.  The obligations of the Lenders under the Loan Documents are several. The failure of any Lender or the Agent to carry out its obligations thereunder
        will not relieve any other Lender or the Agent of any obligations thereunder, nor will any Lender or the Agent be responsible for the obligations of, or any action taken or omitted by, any other Person hereunder or thereunder. Nothing contained in
        any Loan Documents will be deemed to cause any Lender or the Agent to be considered a partner or a joint venture with any other Lender or Lenders or the Agent.

       

      SECTION 11.7    Severability.  Any provision of any Loan Document which is prohibited or unenforceable in any jurisdiction shall, as to such provision and such jurisdiction, be ineffective
        to the extent of such prohibition or unenforceability without invalidating the remaining provisions of such Loan Document or affecting the validity or enforceability of such provision in any other jurisdiction.

       

      
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      SECTION 11.8   Headings. The various headings of each Loan Document are inserted for convenience only and shall not affect the meaning or interpretation of such
        Loan Document or any provisions thereof.

       

      SECTION 11.9      Execution, Effectiveness, Etc.

       

      (a)       Execution in Counterparts.  This Agreement may be executed by the parties hereto in several counterparts, each of which shall be an original and all of which shall constitute
        together but one and the same agreement.

       

      (b)       Effectiveness.  This Agreement shall become effective when counterparts hereof executed on behalf of the Borrower and the Lenders shall have been received by the Agent.

       

      (c)      Electronic Signatures.  Delivery of an executed counterpart of a signature page to this Agreement by email (e.g. “pdf” or “tiff”) or telecopy shall be effective as delivery of a
        manually executed counterpart of this Agreement.  Any signature (including, without limitation, (x) any electronic symbol or process attached to, or associated with, a contract or other record and adopted by a Person with the intent to sign,
        authenticate or accept such contract or record and (y) any facsimile or “pdf” signature) hereto or the other Loan Documents or to any other certificate, agreement or document related to any Loan Document or the transactions contemplated hereby or
        by any other Loan Document, and any contract formation or record-keeping, in each case, through electronic means, shall have the same legal validity and enforceability as a manually executed signature or use of a paper-based record-keeping system
        to the fullest extent permitted by applicable Law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any similar state law based on the Uniform Electronic
        Transactions Act, and the parties hereto hereby waive any objection to the contrary.

       

      SECTION 11.10   Governing Law; Entire Agreement.  EACH LOAN DOCUMENT AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING
        OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT CONTEMPLATED HEREBY AND THEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING FOR SUCH PURPOSE SECTIONS 5-1401 AND
        5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK).  THE LOAN DOCUMENTS CONSTITUTE THE ENTIRE UNDERSTANDING AMONG THE PARTIES HERETO WITH RESPECT TO THE SUBJECT MATTER THEREOF AND SUPERSEDE ANY PRIOR AGREEMENTS, WRITTEN OR ORAL, WITH
        RESPECT THERETO.

       

      SECTION 11.11    Register; Successors and Assigns. 

       

      (a)          The Agent, acting solely for this purpose as a non-fiduciary agent of the Borrower, shall maintain at one of its offices in the United States a copy of each Assignment and Assumption
        delivered to it and register for the recordation of the names and addresses of the Lenders, and principal amounts (and stated interest) of 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 Agent and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all
        purposes under this Agreement.  The Register shall be available for inspection by any Credit Party and any Lender, at any reasonable time and from time to time upon reasonable prior notice.

       

      
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      (b)        This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns; provided that, the Credit Parties may not
        assign or transfer their rights or obligations hereunder without the prior written consent of the Agent.  The Lenders may freely assign, participate or otherwise transfer any or all of their rights and/or obligations hereunder and/or under the
        other Loan Documents; provided that, except in the case of an assignment to a Lender, an Affiliate of a Lender or related funds, (i) so long as no Event of Default has occurred and is continuing, there shall be no assignment, sale or
        participation to a Competitor or Disqualified Institution without the written consent of the Borrower (such consent not to be unreasonably withheld or delayed and such consent to be deemed to have been given if the Borrower has not responded within
        five (5) Business Days of a request for such consent), and (ii) any such assignment, sale or participation shall (when aggregated with all other substantially simultaneous assignments, sales and participations) be in a minimum amount of $1,000,000
        (or, if less, the entire remaining amount of such Lender’s then outstanding Loans). In the event of any assignment, the Lender making such assignment shall provide prompt notice thereof to the Agent so such assignment can be reflected on the
        Register.  Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each participant and the principal amounts (and stated
        interest) of each participant’s interest in the Loans or other obligations under the Loan Documents (the “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 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 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, the Agent (in its
        capacity as the Agent) shall have no responsibility for maintaining a Participant Register.  Each participant shall be entitled to the benefits of Sections 4.1, 4.2 and 4.3 (subject to the requirements and limitations
        therein, including the requirements under Section 4.3(g) (it being understood that the documentation required under Section 4.3(g) shall be delivered to the participating Lender)) to the same extent as if it were a Lender and had
        acquired its interest by assignment; provided that such participant shall not be entitled to receive any greater payment under Section 4.3, with respect to any participation, than its participating lender would have been entitled to
        receive, except to the extent that such entitlement to receive a greater payment results from a Change in Law that occurs after the participant acquired the applicable participation.

       

      SECTION 11.12   Other Transactions.  Nothing contained herein shall preclude the Agent or any of the Lenders, from engaging in any transaction, in addition to
        those contemplated by the Loan Documents, with a Credit Party, any of its Subsidiaries or any of their Affiliates in which such Credit Party or such Affiliate is not restricted hereby from engaging with any other Person.

       

      SECTION 11.13    Forum Selection and Consent to Jurisdiction.  ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN
        CONNECTION WITH, ANY LOAN DOCUMENT, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER ORAL OR WRITTEN) OR ACTIONS OF THE AGENT, THE LENDERS (OR ANY OF THEM), OR ANY CREDIT PARTY (OR ANY OF ITS SUBSIDIARIES) IN CONNECTION HEREWITH OR
        THEREWITH SHALL BE BROUGHT AND MAINTAINED IN THE COURTS OF THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK IN THE STATE OF NEW YORK OR IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK; PROVIDED THAT, ANY SUIT
        SEEKING ENFORCEMENT AGAINST ANY COLLATERAL OR OTHER PROPERTY MAY BE BROUGHT, AT THE AGENT’S OR SUCH LENDER’S OPTION, IN THE COURTS OF ANY JURISDICTION WHERE SUCH COLLATERAL OR OTHER PROPERTY MAY BE FOUND.  EACH PARTY IRREVOCABLY CONSENTS TO THE
        SERVICE OF PROCESS BY REGISTERED MAIL, POSTAGE PREPAID, OR BY PERSONAL SERVICE WITHIN OR WITHOUT THE STATE OF NEW YORK AT THE ADDRESS FOR NOTICES SPECIFIED IN SECTION 11.2.  EACH PARTY HEREBY EXPRESSLY AND IRREVOCABLY WAIVES, TO THE FULLEST
        EXTENT PERMITTED BY LAW, ANY OBJECTION WHICH IT MAY HAVE OR HEREAFTER MAY HAVE TO THE LAYING OF VENUE OF ANY SUCH LITIGATION BROUGHT IN ANY SUCH COURT REFERRED TO ABOVE AND ANY CLAIM THAT ANY SUCH LITIGATION HAS BEEN BROUGHT IN AN INCONVENIENT
        FORUM.  TO THE EXTENT THAT ANY PARTY HAS OR HEREAFTER MAY ACQUIRE ANY IMMUNITY FROM JURISDICTION OF ANY COURT OR FROM ANY LEGAL PROCESS (WHETHER THROUGH SERVICE OR NOTICE, ATTACHMENT PRIOR TO JUDGMENT, ATTACHMENT IN AID OF EXECUTION OR OTHERWISE)
        WITH RESPECT TO ITSELF OR ITS PROPERTY, SUCH PARTY HEREBY IRREVOCABLY WAIVES TO THE FULLEST EXTENT PERMITTED BY LAW SUCH IMMUNITY IN RESPECT OF ITS OBLIGATIONS UNDER THE LOAN DOCUMENTS.

       

      
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      SECTION 11.14   Waiver of Jury Trial.  THE AGENT, EACH OF THE LENDERS, AND THE CREDIT PARTIES HEREBY KNOWINGLY, VOLUNTARILY AND
        INTENTIONALLY WAIVE TO THE FULLEST EXTENT PERMITTED BY LAW ANY RIGHTS THEY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH, EACH LOAN DOCUMENT, OR ANY COURSE OF CONDUCT, COURSE
        OF DEALING, STATEMENTS (WHETHER ORAL OR WRITTEN) OR ACTIONS OF THE AGENT, THE LENDERS OR THE CREDIT PARTIES IN CONNECTION THEREWITH.  EACH PARTY ACKNOWLEDGES AND AGREES THAT IT HAS RECEIVED FULL AND SUFFICIENT CONSIDERATION FOR THIS PROVISION (AND
        EACH OTHER PROVISION OF EACH OTHER LOAN DOCUMENT TO WHICH IT IS A PARTY) AND THAT THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE AGENT AND THE LENDERS ENTERING INTO THE LOAN DOCUMENTS.

       

      SECTION 11.15    Interest Rate Limitation.  Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or
        agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”).  If the Agent or any Lender shall receive interest in an amount that exceeds the Maximum
        Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower.  In determining whether the interest contracted for, charged, or received by the Agent or a Lender exceeds
        the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c)
        amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder.

       

      SECTION 11.16    Acknowledgment and Consent to Bail-In of Affected 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 Affected 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 the applicable 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 the applicable Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto
        that is an Affected Financial Institution; and

       

      (b)          the effects of any Bail-In Action on any such liability, including, if applicable:

       

      
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      (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 Affected 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 the applicable Resolution Authority.

       

      SECTION 11.17      Judgment Currency.

       

      (a)      If, for the purposes of obtaining judgment in any court, it is necessary to convert a sum due hereunder in one currency (the “first currency”) into another currency (the “other
          currency”), the parties hereto agree, to the fullest extent permitted by law, that the rate of exchange used shall be that at which, in accordance with normal banking procedures, the Agent could purchase the first
        currency with such other currency at the applicable buying spot rate of exchange in the New York foreign exchange market on the Business Day immediately preceding that on which any such judgment, or any relevant part thereof, is given.

       

      (b)      The obligations of the Credit Parties in respect of any sum due to the Agent hereunder or under the other Loan Documents shall, notwithstanding any judgment in a currency other than
        Dollars, be discharged only to the extent that on the Business Day following receipt by the Agent of any sum adjudged to be so due in such other currency the Agent may, in accordance with normal banking procedures, purchase Dollars with such other
        currency. If the amount of Dollars so purchased is less than the sum originally due to the Agent in Dollars, the Credit Parties agree, jointly and severally, to the fullest extent that it may effectively do so, as a separate obligation and
        notwithstanding any such judgment, to indemnify the Agent against such loss. If the amount of Dollars so purchased exceeds the sum originally due to the Agent in Dollars, the Agent shall remit such excess to the Credit Parties.

       

      SECTION 11.18       Early Prepayment Fee and Exit Fee.  The parties hereto acknowledge and agree that, to the extent the Early Prepayment Fee and/or the Exit Fee
        is applicable to any repayment or prepayment of principal of any Loan at any time, such Early Prepayment Fee and/or the Exit Fee is not intended to be a penalty assessed as a result of any such repayment or prepayment of the Loans, but rather is
        the product of a good faith, arm’s length commercial negotiation between the Borrower and the Lenders relating to the mutually satisfactory compensation payable to the Lenders by the Borrower in respect of the Loans made hereunder.  In furtherance
        of the foregoing, to the fullest extent permitted by applicable Law, the Credit Parties hereby jointly and severally waive any rights or claims any of them may have under any such applicable Law (whether or not in effect on the Closing Date) that
        would prohibit or restrict the payment of the Early Prepayment Fee and/or the Exit Fee under any of the circumstances provided herein or in any other Loan Document, including payment after acceleration of the Loans.

       

      SECTION 11.19     USA PATRIOT Act.  The Agent and the Lenders hereby notify the Credit Parties that pursuant to the requirements of the Patriot Act, they are
        required to obtain, verify and record information that identifies each Credit Party, which information includes the name and address of each Credit Party and other information that shall allow such Person to identify such Credit Party in accordance
        with the Patriot Act. Promptly following any written request therefor, the Borrower shall deliver to the Agent such information and documentation in respect of any Credit Party reasonably requested by the Agent or any Lender for purposes of
        compliance by the Agent or such Lender with applicable “know your customer” requirements under the Patriot Act, the Beneficial Ownership Regulation or other applicable anti-money laundering laws.

       

      
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      SECTION 11.20 Confidentiality. Each of the Agent and the Lenders agree to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to
        its Affiliates and to its Related Parties (it being understood that the Persons to whom such disclosure is made have a need-to-know such Information, will be informed of the confidential nature of such Information and instructed to keep such
        Information confidential); (b) to the extent required or requested by any regulatory authority purporting to have jurisdiction over such Person or its Related Parties (including any self-regulatory authority, such as the National Association of
        Insurance Commissioners); (c) to the extent required by applicable Laws or by any subpoena or similar legal process; (provided, that the Agent and the Lenders will, to the extent permitted by applicable Laws, notify the Borrower promptly in writing
        so that the Borrower may seek a protective order or other appropriate remedy (at Borrower’s sole cost and expense) and, in the event no such protective order or remedy is obtained, the Agent and the Lenders shall only furnish that portion of the
        Information which it is advised by counsel is legally required by applicable Laws and will exercise its reasonable efforts to obtain reliable assurance that confidential treatment will be accorded the Information); (d) to any other party hereto;
        (e) in connection with the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder; (f) subject to an
        agreement containing provisions substantially the same as (or no less restrictive than) those of this Section, to (i) any assignee of or participant in, or any prospective assignee of or participant in, any of its rights and obligations under this
        Agreement, or (ii) any actual or prospective party (or its Related Parties) to any swap, derivative or other transaction under which payments are to be made by reference to the Borrower and its obligations, this Agreement or payments hereunder;
        (g) on a confidential basis to (i) any rating agency in connection with rating the Borrower or its Subsidiaries or any credit facility or (ii) the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP
        numbers with respect to any credit facility; (h) with the written consent of the Borrower; or (i) to the extent such Information (x) becomes publicly available other than as a result of a breach of this Section, or (y) becomes available to the
        Agent, any Lender, or any of their respective Affiliates on a nonconfidential basis from a source other than the Borrower who did not acquire such information as a result of a breach of this Section.  In addition, the Agent and the Lenders may
        disclose the existence of this Agreement and information about this Agreement (for the avoidance of doubt, excluding Information) to market data collectors, similar service providers to the lending industry and service providers to the Agents or
        any Lender in connection with the administration of this Agreement, the other Loan Documents, and the Commitments.

       

      For purposes of this Section, “Information” means all information received from the Borrower or any of its Subsidiaries relating to the Borrower or any of its Subsidiaries or any of their
        respective businesses, regardless of whether such Information is marked or indicated as being confidential (provided the confidentiality of such Information is reasonably apparent on its face), other than any such information that is available to
        the Agent or any Lender on a nonconfidential basis prior to disclosure by the Borrower or any of its Subsidiaries. Information includes, but is not limited to, technical, marketing, financial, personnel, planning, statistical, pricing, purchasing,
        product and health care data and information, customer, member and supplier lists and information, and other non-public, proprietary and confidential information, including cost and pricing data, operations, systems, programs, inventions,
        techniques, trade secrets, know-how, and other intellectual property, processes, analyses, plans, designs, financial information and marketing information, any other information of or relating to the Borrower’s or any of its Subsidiaries’ business,
        and any analysis, compilation, study, notes, copies, summaries, derivative works, reports or other material prepared by the Agent or Lender (regardless of the form in which it is maintained) that contains or otherwise reflects any information
        disclosed or made available by Borrower or any of its Subsidiaries to Agent or Lender (collectively, “Derivatives”).  Confidential Information may be disclosed orally, in writing, by visual observation, electronically or fixed in any
        tangible medium of expression. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to
        maintain the confidentiality of such Information as such Person would accord to its own confidential information, and promptly notifies the Credit Parties upon discovery of any loss or unauthorized disclosure of any Information.  Agent and the
        Lenders shall be responsible for the breach of this Agreement by any Person to whom Information is disclosed pursuant to this Agreement.

       

      
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      Agent and the Lenders acknowledge that they may become aware of material, non-public information concerning the Credit Parties in the course of the discussions and negotiations contemplated
        herein.  Accordingly, Agent and the Lenders agree not to: (i) effect or seek, offer or propose (whether publicly or otherwise) to effect, or cause or participate in or in any way assist any other person to effect or seek, offer or propose (whether
        publicly or otherwise) to effect or participate in any trading of any securities (or beneficial ownership thereof) of the Credit Parties, (ii) disclose or “tip” material, non-public information concerning the Credit Parties to any person or entity,
        (iii) give trading advice of any kind to any person or entity concerning the Credit Parties or (iv) except with the prior written consent of the Credit Parties, take any action that might force the other Credit Parties to make a public announcement
        under applicable securities laws.

       

      Upon expiration or termination of this Agreement and repayment in full of all Obligations, Agent and the Lenders shall promptly return to the Credit Parties all copies of the Information of
        Discloser then in its possession; provided, however, that Agent and the Lenders may promptly destroy any Information in its possession (including, without limitation, any Derivatives) in lieu of returning such materials.  Agent and the Lenders
        hereby agree to certify in a letter to the Credit Parties that such return or destruction required hereunder have been accomplished.   Notwithstanding the foregoing, Agent and the Lenders may retain a copy of Information in its confidential legal
        files.  Agent and the Lenders’ obligation to maintain the confidentiality of Information shall survive for a period of five (5) years following the termination of this Agreement.

       

      No license or other right under any patent, trademark, copyright, trade secret, know-how or other intellectual property right is being granted by any Credit Party hereunder except the right to use
        Information in accordance with the terms of this Agreement.  All Information is provided “AS IS” and without any warranty, express, implied or otherwise regarding its accuracy or performance.

       

      ARTICLE XII 

        GUARANTEE

       

      SECTION 12.1    The Guarantee.  Each of the Subsidiary Guarantors and any other Person that becomes a Subsidiary Guarantor after the Closing Date hereby guarantees to the Agent and the
        Lenders, and their respective successors, endorsees, transferees and assigns, the full and prompt payment in full when due (whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise) and performance of the
        indebtedness, liabilities and other obligations of the Borrower to the Agent and the Lenders under or in connection with this Agreement, the Notes and the other Loan Documents, including all unpaid principal of the Loans, all interest accrued
        thereon, all fees due under this Agreement and all other amounts payable by the Borrower to the Agent and the Lenders hereunder or in connection herewith.  The terms “indebtedness,” “liabilities” and “obligations” are used herein in their most
        comprehensive sense and include any and all advances, debts, obligations and liabilities, now existing or hereafter arising, whether voluntary or involuntary and whether due or not due, absolute or contingent, liquidated or unliquidated, determined
        or undetermined, and whether recovery upon such indebtedness, liabilities and obligations may be or hereafter become unenforceable or shall be an allowed or disallowed claim in any insolvency proceeding and including interest that accrues after the
        commencement by or against any Credit Party or any of its Subsidiaries of any insolvency proceeding naming such Credit Party or such Subsidiary as the debtor in such insolvency proceeding.  The foregoing indebtedness, liabilities and other
        obligations of the Borrower, and all other indebtedness, liabilities and obligations to be paid or performed by the Subsidiary Guarantors in connection with this Section 12.1 shall hereinafter be collectively referred to as the “Guaranteed

          Obligations.”

       

      
        85

        
          

      

      SECTION 12.2   Obligations Unconditional.  The obligations of the Subsidiary Guarantors under Section 12.1 are absolute and unconditional, irrespective of the value, genuineness,
        validity, regularity or enforceability of the obligations of the Borrower under this Agreement or any other agreement or instrument referred to herein, or any substitution, release or exchange of any other guarantee of or security for any of the
        Guaranteed Obligations, and, to the fullest extent permitted by law, irrespective of any other circumstance whatsoever that might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, it being the intent of this Section

          12.1 that the obligations of the Subsidiary Guarantors hereunder shall be absolute and unconditional under any and all circumstances other than the Payment in Full of the Guaranteed Obligations.  Without limiting the generality of the
        foregoing, it is agreed that the occurrence of any one or more of the following shall not alter or impair the liability of the Subsidiary Guarantors hereunder, which shall remain absolute and unconditional as described above:

       

      (a)          at any time or from time to time, without notice to the Subsidiary Guarantors, the time for any performance of or compliance with any of the Guaranteed Obligations shall be extended,
        or such performance or compliance shall be waived;

       

      (b)          any of the acts mentioned in any of the provisions of this Agreement or any other agreement or instrument referred to herein shall be done or omitted;

       

      (c)          the maturity of any of the Guaranteed Obligations shall be accelerated, or any of the Guaranteed Obligations shall be modified, supplemented or amended in any respect, or any right
        under this Agreement or any other Loan Document shall be waived or any other guarantee of any of the Guaranteed Obligations or any security therefor shall be released or exchanged in whole or in part or otherwise dealt with; or

       

      (d)          any Lien or security interest granted to, or in favor of, the Secured Parties as security for any of the Guaranteed Obligations shall fail to be perfected.

       

      Each of the Subsidiary Guarantors hereby expressly waives diligence, presentment, demand of payment, protest and all notices whatsoever, and any requirement that the Agent or the Lenders exhaust
        any right, power or remedy or proceed against the Borrower under this Agreement or any other agreement or instrument referred to herein, or against any other Person under any other guarantee of, or security for, any of the Guaranteed Obligations.

       

      SECTION 12.3    Reinstatement.  The obligations of the Subsidiary Guarantors under this Article XII shall be automatically reinstated if and to the
        extent that for any reason any payment by or on behalf of the Borrower in respect of the Guaranteed Obligations is rescinded or must be otherwise restored by any holder of any of the Guaranteed Obligations, whether as a result of any proceedings in
        bankruptcy or reorganization or otherwise, and each of the Subsidiary Guarantors agrees that it will indemnify the Agent and the Lenders on demand for all reasonable costs and expenses (including reasonable fees of one primary counsel and one local
        counsel in each relevant jurisdiction) incurred by such Persons in connection with such rescission or restoration, including any such costs and expenses incurred in defending against any claim alleging that such payment constituted a preference,
        fraudulent transfer or similar payment under any bankruptcy, insolvency or similar law.

       

      
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      SECTION 12.4    Subrogation.  Until the Guaranteed Obligations shall be satisfied in full (other than inchoate indemnification, expense reimbursement obligations
        and other contingent obligations for which no claim has been asserted), no Subsidiary Guarantor shall directly or indirectly exercise, (i) any rights that it may acquire by way of subrogation under this Article XII, by any payment hereunder
        or otherwise, (ii) any rights of contribution, indemnification, reimbursement or similar suretyship claims arising out of this Article XII or (iii) any other right which it might otherwise have or acquire (in any way whatsoever) which could
        entitle it at any time to share or participate in any right, remedy or security of the Agent or any Lender as against the Borrower or other Credit Parties (or any of their Subsidiaries), whether in connection with this Article XII, any of
        the other Loan Documents or otherwise.  If any amount shall be paid to the Subsidiary Guarantors on account of the foregoing rights at any time when all the Guaranteed Obligations shall not have been paid in full, such amount shall be held in trust
        for the benefit of the Agent and the Lenders and shall forthwith be paid to the Agent to be credited and applied to the Guaranteed Obligations, whether matured or unmatured, in accordance with the terms of the Loan
        Documents.

       

      SECTION 12.5  Remedies.  Each of the Subsidiary Guarantors agrees that, as between any Subsidiary Guarantor, on one hand, and the Agent and the Lenders, on the
        other hand, the obligations of the Borrower under this Agreement and under the other Loan Documents may be declared to be forthwith due and payable as provided in Article IX (and shall be deemed to have become automatically due and payable
        in the circumstances provided in Article IX) for purposes of Section 12.1 notwithstanding any stay, injunction or other prohibition preventing such declaration (or such obligations from becoming automatically due and payable) as
        against the Borrower and that, in the event of such declaration (or such obligations being deemed to have become automatically due and payable), such obligations (whether or not due and payable by the Borrower) shall forthwith become due and
        payable by the Subsidiary Guarantors for purposes of Section 12.1.

       

      SECTION 12.6   Instrument for the Payment of Money.  Each of the Subsidiary Guarantors hereby acknowledges that the guarantee in this Article XII
        constitutes an instrument for the payment of money, and consents and agrees that the Agent and the Lenders, at their sole option, in the event of a dispute by any Subsidiary Guarantor in the payment of any moneys due hereunder, shall have the right
        to proceed by motion for summary judgment in lieu of complaint pursuant to N.Y. Civ. Prac. L&R § 3213.

       

      SECTION 12.7  Continuing Guarantee.  The guarantee in this Article XII is a continuing guaranty and agreement of subordination relating to any Guaranteed Obligations, including
        Guaranteed Obligations which may exist continuously or which may arise from time to time under successive transactions, and each of the Subsidiary Guarantors expressly acknowledges that the guarantee in this Article XII shall remain in full
        force and effect notwithstanding that there may be periods in which no Guaranteed Obligations exist.  The guarantee in this Article XII shall continue in effect and be binding upon the Subsidiary Guarantors until payment and performance in
        full of the Guaranteed Obligations (other than inchoate indemnification, expense reimbursement obligations and other contingent obligations for which no claim has been asserted).

       

      SECTION 12.8    General Limitation on Guarantee Obligations.  In any action or proceeding involving any provincial, territorial or state corporate law, or any
        state or federal bankruptcy, insolvency, reorganization or other law affecting the rights of creditors generally, if the obligations of the Borrower or any Subsidiary Guarantor under Section 12.1 would otherwise be held or determined to be
        void, invalid or unenforceable, or subordinated to the claims of any other creditors, on account of the amount of its liability under Section 12.1, then, notwithstanding any other provision hereof to the contrary, the amount of such
        liability shall, without any further action by the Subsidiary Guarantors, the Agent, the Lenders or any other Person, be automatically limited and reduced to the highest amount that is valid and enforceable and not
        subordinated to the claims of other creditors as determined in such action or proceeding.

       

      [SIGNATURE PAGES FOLLOW]

       

      
        87

        
          

      

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

       

      	 	
              BORROWER:

            
	 	 
	 	
              ADMA BIOLOGICS, INC.

            
	 	 
	 	
              By

              

            	
              /s/ Brian Lenz

            
	 	
              Name:

            	
              Brian Lenz

            
	 	
              Title:

            	
              Executive Vice President, Chief Financial Officer, and Secretary

            
	 	 	 
	 	
              SUBSIDIARY GUARANTORS:

            
	 	 
	 	
              ADMA BIOMANUFACTURING, LLC

            
	 	 
	 	
              By

            	
              /s/ Brian Lenz

            
	 	
              Name:

            	
              Brian Lenz

            
	 	
              Title:

            	
              Vice President, Chief Financial  Officer

            
	 	 	 
	 	
              ADMA PLASMA BIOLOGICS, INC.

            
	 	 
	 	
              By

            	
              /s/ Brian Lenz

            
	 	
              Name:

            	
              Brian Lenz

            
	 	
              Title:

            	
              Vice President, Chief Financial  Officer

            
	 	 	 
	 	
              ADMA BIOCENTERS GEORGIA INC.

            
	 	 
	 	
              By

            	
              /s/ Brian Lenz

            
	 	
              Name:

            	
              Brian Lenz

            
	 	
              Title:

            	
              Vice President, Chief Financial  Officer

            

      

      

       

      [Signature Page to Credit Agreement and Guaranty (ADMA Biologics)]

      

      

      
        88

        
          

      

      	 	
              AGENT:

            
	 	 
	 	
              HAYFIN SERVICES LLP

            
	 	 
	 	
              By

            	
              /s/ Vikas Melita

            
	 	 	
              Authorised Signatory

            

      

      

      [Signature Page to Credit Agreement and Guaranty (ADMA Biologics)]

       

      

      
        89

        
          

      

      	 	
              LENDERS:

            
	 	 
	 	
              Signed for and on behalf of Hayfin Healthcare

              Opportunities LuxCo S.à r.l.

            
	 	 
	 	
              /s/ Lina Kavoliune

            
	 	
              Name: Lina Kavoliune

            
	 	
              Position: Manager

            
	 	 
	 	
              Signed for and on behalf of Hayfin SOF III LuxCo

              S.à.r.l.

            
	 	 
	 	
              /s/ Lina Kavoliune

            
	 	
              Name: Lina Kavoliune

            
	 	
              Position: Manager

            
	 	 
	 	
              Signed for and on behalf of Hayfin Chief LuxCo

              S.à.r.l.

            
	 	 
	 	
              /s/ Lina Kavoliune

            
	 	
              Name: Lina Kavoliune

            
	 	
              Position: Manager

            
	 	 
	 	
              Signed for and on behalf of Hayfin Big Cypress LuxCo

              S.à.r.l.

            
	 	 
	 	
              /s/ Lina Kavoliune

            
	 	
              Name: Lina Kavoliune

            
	 	
              Position: Manager

            
	 	 
	 	
              Signed for and on behalf of SunHay LuxCo

              S.à.r.l.

            
	 	 
	 	
              /s/ Lina Kavoliune

            
	 	
              Name: Lina Kavoliune

            
	 	
              Position: Manager

            

       

      

      [Signature Page to Credit Agreement and Guaranty (ADMA Biologics)]

      

      

      
        90

        
          

      

      	 	
              Signed for and on behalf of Hayfin Opal 2020 (A) LP,

              acting by its manager Hayfin Management Limited

            
	 	 
	 	
              /s/ Tej Kumar GUJADHUR

            
	 	
              Name: Tej Kumar GUJADHUR

            
	 	
              Position: Director

            
	 	 
	 	
              Signed for and on behalf of Hayfin Opal 2020 (B) LP,

              acting by its manager Hayfin Management Limited

            
	 	 
	 	
              /s/ Tej Kumar GUJADHUR

            
	 	
              Name: Tej Kumar GUJADHUR

            
	 	
              Position: Director

            
	 	 
	 	
              Signed for and on behalf of Hayfin Hamilton LuxCo

              S.à.r.l.

            
	 	 
	 	
              /s/ Lina Kavoliune

            
	 	
              Name: Lina Kavoliune

            
	 	
              Position: Manager

            

      

      

      [Signature Page to Credit Agreement and Guaranty (ADMA Biologics)]

      

      

       

        

      91Exhibit 10.25

    

     

      

    
      EXECUTION VERSION

       

    

    
      SECURITY AGREEMENT

       

      THIS SECURITY AGREEMENT (as amended, supplemented or otherwise modified from time to time, this “Agreement”), dated as of March 23, 2022, is made by and among ADMA BIOLOGICS, INC., a
        Delaware corporation (the “Borrower”), the Subsidiaries of the Borrower named in the signature pages hereto or having joined this Agreement pursuant to Section 23 (each a “Subsidiary Guarantor” and, together with the Borrower,
        each a “Grantor” and, collectively, the “Grantors”), and HAYFIN SERVICES LLP, as administrative agent for the Lenders referred to below (in such capacity, together with its successors and assigns, the “Agent”).

       

      WHEREAS, the Borrower, certain other Credit Parties from time to time party thereto, the lenders from time to time party thereto (the “Lenders”) and the Agent are parties to that certain
        Credit Agreement and Guaranty, dated as of the date hereof (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), pursuant to which the Borrower will incur Indebtedness and the other Obligations and the
        Subsidiary Guarantors will guarantee such Indebtedness and other Obligations (the “Guaranty”).

       

      WHEREAS, it is a condition precedent to the making of the Loans by the Lenders under the Credit Agreement that the Grantors enter into this Agreement and grant to the Agent, for

        itself and for the ratable benefit of the other Secured Parties, the security interests hereinafter provided to secure the obligations of the Borrower and the Subsidiary Guarantors described below.

       

      NOW, THEREFORE, the parties hereto agree as follows:

       

      SECTION 1          Definitions; Interpretation.

       

      
        
          (a)    Terms Defined in Credit Agreement.  All capitalized terms
              used in this Agreement (including in the recitals hereof) and not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement.

           

            

        

      

      
        
          (b)      Certain Defined Terms.  As
              used in this Agreement, the following terms shall have the following meanings:

           

            

        

      

      “Accounts” means any and all of any Grantor’s accounts, as such term is defined in Section 9-102 of the UCC.

       

      “Agreement” has the meaning set forth in the preamble to this Agreement.

       

      “Bailee Letter” means a bailment agreement substantially in the form of Exhibit F or otherwise in form and substance satisfactory to the Agent.

       

      “Books” means all books, records and other written, electronic or other documentation in whatever form maintained now or hereafter by or for any Grantor in connection with the ownership of
        its assets or the conduct of its business or evidencing or containing information relating to the Collateral, including: (i) ledgers; (ii) records indicating, summarizing, or evidencing any Grantor’s assets (including Inventory and Rights to
        Payment), business operations or financial condition; (iii) computer programs and software; (iv) computer discs, tapes, files, manuals, spreadsheets; (v) computer printouts and output of whatever kind; (vi) any other computer prepared or
        electronically stored, collected or reported information and equipment of any kind; and (vii) any and all other rights now or hereafter arising out of any contract or agreement between any Grantor and any service bureau, computer or data processing
        company or other Person charged with preparing or maintaining any of any Grantor’s books or records or with credit reporting, including with regard to any such Grantor’s Accounts.

       

      
        
          

      

      “Chattel Paper” means any and all of any Grantor’s chattel paper, as such term is defined in Section 9-102 of the UCC, including all Electronic Chattel Paper.

       

      “Collateral” has the meaning set forth in Section 2(a).

       

      “Commercial Tort Claims” means any and all of any Grantor’s commercial tort claims, as such term is defined in Section 9-102 of the UCC, including any such claims described in Schedule 1.

       

      “Control Agreement” means any control agreement or other agreement with any securities intermediary, bank, depository or other Person establishing the Agent’s control with respect to any
        Deposit Accounts, Securities Accounts, lockboxes, disbursement accounts, investment accounts or similar accounts, Letter-of-Credit Rights or Investment Property, for purposes of Article 8 or Sections 9-104, 9-106 and 9-107 of the UCC.

       

      “Deposit Account” means any deposit account, as such term is defined in Section 9-102 of the UCC, maintained by or for the benefit of any Grantor, whether or not restricted or designated for
        a particular purpose.

       

      “Documents” means any of any Grantor’s documents, as such term is defined in Section 9-102 of the UCC.

       

      “Electronic Chattel Paper” means any and all of any Grantor’s electronic chattel paper, as such term is defined in Section 9-102 of the UCC.

       

      “Equipment” means any and all of any Grantor’s equipment, including any and all fixtures, as such terms are defined in Section 9-102 of the UCC.

       

      “Exchange Act” means the Securities Exchange Act of 1934.

       

      “Excluded Accounts” means any (a) Deposit Account or Securities Account specially and exclusively used in the ordinary course of business for payroll, payroll
        taxes and other employee wage and benefit payments to or for the benefit of any Grantor or any of their respective Subsidiaries’ employees, which accounts are funded only in the ordinary course of business and not in excess of any amounts necessary
        to fulfill payroll obligations that are then currently owing, (b) 401(k) accounts, escrow accounts and trust accounts and any other accounts the pledge or encumbrance of which would be prohibited by applicable Law, (c) Deposit Account or Securities
        Account that is a zero-balance disbursement account, (d) Deposit Account or Securities Account with an average daily balance not in excess of $100,000 individually or $250,000 in the aggregate and (e) Deposit Account into which payments with
        respect to Governmental Payors are deposited and for which assignment is prohibited under applicable Law (“Governmental Payment Account”) (but not including any Deposit accounts into which such Governmental Payor deposited payments are
        swept).

       

      “Excluded Property” has the meaning set forth in Section 2(a).

       

      “General Intangibles” means any and all of any Grantor’s general intangibles, as such term is defined in Section 9-102 of the UCC.

       

      
        
          

      

      “Goods” means any and all of any Grantor’s goods, as such term is defined in Section 9-102 of the UCC.

       

      “Governmental Payor” means a federal or state healthcare program including, without limitation, Medicare or Medicaid.

       

      “Grantors” has the meaning set forth in the preamble to this Agreement.

       

      “Guaranty” has the meaning set forth in the recitals to this Agreement.

       

      “Instruments” means any and all of any Grantor’s instruments, as such term is defined in Section 9-102 of the UCC.

       

      “Intellectual Property Collateral” means the following properties and assets owned or held by any Grantor or in which any Grantor otherwise has any interest, now existing or hereafter
        acquired or arising:

       

      (i)           all Patents, including domestic and foreign Patents, all licenses relating to any of the foregoing and all income and royalties with respect to any licenses (including such Patents
        and licenses described in Schedule 2), together with all rights to sue and collect damages for past, present or future infringement thereof, all rights arising therefrom and pertaining thereto and all reissues, divisions, continuations,
        renewals and extensions in part thereof;

       

      (ii)          all Copyrights, including domestic and foreign Copyrights, together with underlying works of authorship (including titles), whether or not the underlying works of authorship have been
        published and whether said Copyrights are statutory or arise under the common law, and all other rights and works of authorship, all licenses relating to any of the foregoing and all income and royalties with respect to any licenses (including the
        Copyrights and licenses described in Schedule 2), and all income and royalties with respect thereto, and all other rights, Claims and demands in any way relating to any such Copyrights or works, including royalties and rights to sue and
        collect damages for past, present or future infringement thereof, and all rights arising therefrom and pertaining thereto;

       

      (iii)       all Trademarks, including state (including common law), federal and foreign trademarks, service marks and trade names, and applications for registration of such Trademarks, all licenses
        relating to any of the foregoing and all income and royalties with respect to any licenses (including the Trademarks and licenses described in Schedule 2), whether registered or unregistered and wherever registered, all rights to sue for
        past, present or future infringement or unconsented use thereof, all rights arising therefrom and pertaining thereto and all reissues, extensions and renewals thereof,, other than any “intent to use” application for registration of a Trademark
        filed pursuant to Section 1(b) of the Lanham Act, 15 U.S.C. § 1051, prior to the filing of a “Statement of Use” pursuant to Section 1(d) of the Lanham Act or an “Amendment to Allege Use” pursuant to Section 1(c) of the Lanham Act with respect
        thereto, to the extent that, and during the period in which, the grant of a security interest therein would impair the validity or enforceability of any registration that issues from such intent-to-use application under applicable federal law,
        together with all rights to sue and collect damages for past, present and future infringement thereof, all rights arising therefrom and pertaining thereto;

       

      (iv)          all Trade Secrets, trade dress, trade styles, logos, other source of business identifiers, mask-works, mask-work registrations, mask-work applications, software, confidential and
        proprietary information, customer lists, license rights, advertising materials, operating manuals, methods, processes, know-how, algorithms, formulae, databases, quality control procedures, product, service and technical specifications, operating,
        production and quality control manuals, sales literature, drawings, specifications, blue prints, descriptions, inventions, name plates, catalogs, internet websites, and internet domain names and associated URL addresses, together with all rights to
        sue and collect damages for past, present and future infringement thereof, all rights arising therefrom and pertaining thereto;

       

      
        
          

      

      (v)           the entire goodwill of or associated with the businesses now or hereafter conducted by such Grantor connected with and symbolized by any of the aforementioned properties and assets;
        and

       

      (vi)         all other intellectual property and proprietary rights, or other similar property and all other general intangibles associated with or arising out of any of the aforementioned
        properties and assets and not otherwise described above, including rights to sue for or collect damages for any past, present or future infringement of any of the foregoing.

       

      “Intellectual Property Security Agreement” means each Patent Security Agreement in substantially the form of Exhibit C, each Trademark Security Agreement in substantially the form of
        Exhibit D, each Copyright Security Agreement in substantially the form of Exhibit E or any amendment thereto, in form and substance satisfactory to the Agent, supplementary to this Agreement and prepared for purposes of recordation
        with the U.S. Copyright Office or the U.S. Patent and Trademark Office, as applicable.

       

      “Inventory” means any of any Grantor’s inventory, as such term is defined in Section 9-102 of the UCC.

       

      “Investment Property” means any of any Grantor’s investment property, as such term is defined in Section 9-102 of the UCC.

       

      “IP License” means all contractual obligations, whether written or oral, granting any right, title and interest in any Intellectual Property.

       

      “Joinder Agreement” has the meaning set forth in Section 23.

       

      “Joining Grantor” has the meaning set forth in Section 23.

       

      “Landlord Consent” means a landlord waiver substantially in the form of Exhibit G or otherwise in form and substance reasonably satisfactory to the Agent and the applicable landlord.

       

      “Letter-of-Credit Rights” means any and all of any Grantor’s letter-of-credit rights, as such term is defined in Section 9-102 of the UCC.

       

      “Partnership and LLC Collateral” means any and all limited, limited liability and general partnership interests and limited liability company interests of any type or nature (including any
        such interests in the Borrower’s direct or indirect Subsidiaries now or hereafter owned by any Grantor), whether now existing or hereafter acquired or arising, including any such interests specified in Schedule 3.

       

      “Pledge Supplement” has the meaning specified in Section 3(h).

       

      “Pledged Collateral” means any and all (i) Pledged Shares; (ii) additional capital stock or other Capital Securities of the direct or indirect Subsidiaries of the Borrower), whether
        certificated or uncertificated; (iii) other Investment Property of any Grantor; (iv) warrants, options or other rights entitling any Grantor to acquire any interest in capital stock or other Capital Securities of such Subsidiaries or any other
        Person; (v) Partnership and LLC Collateral; (vi) Instruments; (vii) securities, property, interest, dividends and other payments and distributions issued as an addition to, in redemption of, in renewal or exchange for, in substitution or upon
        conversion of, or otherwise on account of, any of the foregoing; (viii) certificates and instruments now or hereafter representing or evidencing any of the foregoing; (ix) rights, interests and claims with respect to the foregoing, including under
        any and all related agreements, instruments and other documents and (x) cash and non-cash proceeds of any of the foregoing, in each case whether presently existing or owned or hereafter arising or acquired and wherever located, and as from time to
        time received or receivable by, or otherwise paid or distributed to or acquired by, any Grantor.

       

      
        
          

      

      “Pledged Collateral Agreements” has the meaning specified in Section 5(q)(i).

       

      “Pledged Shares” means all of the issued and outstanding Capital Securities, whether certificated or uncertificated, of the Borrower’s direct or indirect Subsidiaries now or hereafter owned
        by any Grantor, including each Subsidiary identified on Schedule 3 (as amended or supplemented from time to time).

       

      “Proceeds” means all proceeds, as such term is defined in Section 9-102 of the UCC.

       

      “Rights to Payment” means any and all of any Grantor’s Accounts and any and all of any Grantor’s rights and claims to the payment or receipt of money or other forms of consideration of any
        kind in, to and under or with respect to its Chattel Paper, Documents, General Intangibles, Instruments, Investment Property, Letter-of-Credit Rights, Proceeds and Supporting Obligations.

       

      “Secured Obligations” means all Obligations, whether in respect of Indebtedness or other obligations of the Grantors to any Secured Party under the Credit Agreement, the Notes, the Guarantee
        or any of the other Loan Documents or otherwise.

       

      “Secured Parties” means the Agent and the Lenders.

       

      “Securities Account” means securities account, as such term is defined in Section 8-501 of the UCC, maintained by or for the benefit of any Grantor, whether or not restricted or designated
        for a particular purpose.

       

      “Supporting Obligations” means all supporting obligations, as such term is defined in Section 9-102 of the UCC.

       

      “UCC” means the Uniform Commercial Code in effect in the State of New York, as amended from time to time.

       

      
        
          (c)  Terms Defined in UCC.  Where applicable and except as otherwise defined herein,
              terms used in this Agreement shall have the meanings assigned to them in the UCC; provided, however, that to the extent that the UCC is used to define any term herein and such term is defined differently in different Articles
              of the UCC, the definition of such term contained in Article 9 shall govern.

           

            

        

      

      
        
          (d)   Interpretation.  The rules of interpretation set forth in Section 1.2 of the
              Credit Agreement shall be applicable to this Agreement and are incorporated herein by this reference.

           

            

          
            
              

          

        

      

      SECTION 2          Security Interest.

       

      (a)          Grant of Security Interest.  As security for the payment and performance of the Secured Obligations, each Grantor hereby grants to the
        Agent, for itself and on behalf of and for the ratable benefit of the other Secured Parties, a security interest in all of such Grantor’s right, title and interest in, to and under all of such Grantor’s personal property, wherever located and
        whether now existing or owned or hereafter acquired or arising, including the following property (collectively, the “Collateral”): (i) all Accounts; (ii) all Chattel Paper; (iii) all Commercial Tort Claims; (iv) all Deposit Accounts; (v) all
        Books and Documents; (vi) all Equipment; (vii) all General Intangibles; (viii) all Instruments; (ix) all Inventory; (x) all Investment Property; (xi) all Letter-of-Credit Rights; (xii) all other Goods; (xiii) all Intellectual Property Collateral;
        (xiv) all Rights to Payment; (xv) all Pledged Collateral; (xvi) all money; (xvii) all products and Proceeds of any and all of the foregoing; (xviii) all Supporting Obligations of any and all of the foregoing and (xviii) all IP Licenses; provided that the following property shall be excluded from the Collateral (collectively, the “Excluded
            Property”):

      

      

      (A) motor vehicles or
          any other property or equipment subject to certificate of title laws or the perfection of a security interest in which is excluded from the UCC in the relevant jurisdiction;

      

      

      (B) Excluded Accounts;

      

      

      (C) any property to the
          extent that (i) the grant of a security interest therein is prohibited by or in violation of any law, rule or regulation applicable to such Grantor, or requires a consent not obtained of any Governmental Authority pursuant to any applicable law
          or regulation, or (ii) any grant of a security interest therein is prohibited by, constitutes a breach or default under, requires any consent not obtained under, or results in the termination of (or a termination right for any party thereto
          (other than the applicable Grantor)) any permit, lease, license, contract or agreement; provided, that such property shall not be excluded under this clause (ii) to the extent that such prohibition would be rendered unenforceable or
          otherwise deemed ineffective with respect to the creation of the security interest hereunder pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the UCC; provided, further that in the case of clauses (i) and (ii),
          such assets shall be included (and such security interest shall attach) immediately at such time as the contractual or legal prohibition shall no longer be applicable and to the extent severable, shall attach immediately to any portion of such
          property not subject to the provisions specified in clause (i) or (ii) above;

      

      

      (D) any application for
          registration of a Trademark filed with the U.S. Patent and Trademark Office on an intent-to-use basis for which, and solely during the period in which, an
            amendment to allege use or a statement of use has not been filed under 15 U.S.C. Section 1051(c) or 15 U.S.C. Section 1051(d), respectively, or if filed, has not been deemed in conformance with 15 U.S.C. Section 1051(a) and accepted by the U.S.

          Patent and Trademark Office as set forth in the defined term “Intellectual Property Collateral”;

      

      

      (E) assets subject to
          capital leases, purchase money financing or similar arrangements permitted under the Credit Agreement (i) if the contractual provisions governing the relevant capital lease, purchase money financing or similar arrangement prohibits (or would
          require the consent of any Person other than the Borrower and its Affiliates which has not been obtained) the grant and/or perfection of a first priority Lien thereon to secure the Obligations or (ii) to the extent that any applicable law
          prohibits the creation of a Lien thereon, but only, with respect to the prohibition in (i) and (ii), to the extent, and for as long as, such prohibition is not terminated or rendered unenforceable or otherwise deemed ineffective by the UCC;

      

      

      (F) Governmental Payment Accounts;

      

      

      
        
          

      

      (G) any assets to the extent that such grant of a Lien thereon would reasonably be expected to result in material adverse tax consequences to the Grantors, as reasonably
        determined by the Borrower;

      

      

      (H) any Capital Securities in partnerships, joint ventures and non-wholly owned Subsidiaries which cannot be pledged without the consent of one or more third parties (other
        than the Borrower or any of their Subsidiaries (after giving effect to any applicable anti-assignment provision of the UCC or other applicable law)) which has not been obtained or violates applicable law (provided, that (x) such requirement existed
        at the time of the acquisition of such asset and was not incurred in contemplation thereof and (y) such acquisition was permitted by the Loan Documents); and

      

      

      (I) any other assets where the cost (or other consequences) of creating, attaching or perfecting of Lien thereon exceeds the practical benefit to the Secured Parties afforded
        thereby, as reasonably determined by the Agent and the Borrower;

      

      

      provided, further, that the exclusions set forth in the foregoing clauses shall
          not apply to any Proceeds, products, substitutions or replacements of the foregoing property unless such Proceeds, products, substitutions or replacements would themselves constitute property excluded pursuant to foregoing clauses.

       

      
        
          (b) Grantors Remain Liable.  Notwithstanding anything herein to the
              contrary, (i) each Grantor shall remain liable under any contracts, agreements and other documents included in the Collateral, to the extent set forth therein, to perform all of its duties and obligations thereunder to the same extent as if
              this Agreement had not been executed, (ii) the exercise by the Agent of any of the rights granted to the Agent hereunder shall not release any Grantor from any of its duties or obligations under any such contracts, agreements and other
              documents included in the Collateral, and (iii) neither the Agent nor any other Secured Party shall have any obligation or liability under any such contracts, agreements and other documents included in the Collateral by reason of this
              Agreement, nor shall the Agent or any other Secured Party be obligated to perform any of the obligations or duties of any Grantor thereunder or to take any action to collect or enforce any such contract, agreement or other document included
              in the Collateral hereunder.

           

            

        

      

      
        
          (c) Continuing Security Interest.  Each Grantor
              agrees that this Agreement shall create a continuing security interest in the Collateral which shall remain in effect until terminated in accordance with Section 24.

           

            

        

      

      SECTION 3          Perfection and Priority.

       

      
        
          (a)   Financing Statements, Etc. 

            Each Grantor hereby authorizes the Agent (or its designee) to file at any time and from time to time any financing statements describing the Collateral (including describing the Collateral as
              “all assets” or “all personal property” of such Grantor, or words of similar effect), and each Grantor shall execute and deliver to the Agent, and each Grantor hereby authorizes the Agent (or its designee) to file (with or without such
              Grantor’s signature), at any time and from time to time, all amendments to financing statements, continuation financing statements, termination statements, Intellectual Property Security Agreements, assignments, fixture filings, affidavits,
              reports, notices and all other documents and instruments, in form satisfactory to the Agent, as the Agent or the Majority Lenders may reasonably request, to perfect, continue the perfection of, maintain the priority of or provide notice of
              the Agent’s security interest in the Collateral and to accomplish the purposes of this Agreement. Without limiting the generality of the foregoing, each Grantor (i) ratifies and authorizes the filing by the Agent (or its designee) of any
              financing statements filed with respect to the Collateral prior to the date hereof and (ii) shall from time to time take the actions specified in subsections (b) through (i) below.

           

            

          
            
              

          

        

      

      
        
          (b)     Delivery of
                Pledged Collateral.  Each Grantor hereby agrees to deliver to or for the account of the Agent, at the address and to the Person to be designated by the Agent, the certificates, instruments and other writings representing any Pledged
              Collateral, to the extent certificated, which shall be in suitable form for transfer by delivery, or shall be accompanied by duly executed instruments of transfer or assignment in blank, in form satisfactory to the Agent. If any Grantor
              becomes entitled to receive or receives any Pledged Collateral after the date hereof, such Grantor shall accept the foregoing as the agent for the Agent, shall hold it in trust for the Agent, shall segregate it from other property or funds of
              such Grantor and shall promptly deliver the same and all certificates, instruments and other writings representing such Pledged Collateral forthwith to or for the account of the Agent, at the address and to the Person to be designated by the
              Agent, which shall be in suitable form for transfer by delivery, or shall be accompanied by duly executed instruments of transfer or assignment in blank in form satisfactory to the Agent.

           

            

        

      

      
        
          (c)   Transfer of
                Security Interest Other Than by Delivery.  If for any reason Pledged Collateral cannot be delivered to or for the account of the Agent as provided in Section 3(b), each applicable Grantor shall promptly take such other steps as
              may be necessary or as reasonably requested from time to time by the Agent to effect a transfer of a perfected first priority security interest in and pledge of the Pledged Collateral to the Agent for itself and on behalf of and for the
              ratable benefit of the other Secured Parties pursuant to the UCC. As soon as practicable, each such Grantor shall thereafter deliver the Pledged Collateral to or for the account of the Agent as provided in Section 3(b).

           

            

        

      

      
        
          (d) Intellectual Property Collateral.

           

            

        

      

      (i)          Each Grantor shall execute and deliver to the Agent, concurrently with the execution of this Agreement, such Intellectual Property Security Agreements as the Agent may reasonably
        request, and record or cause to be recorded (including by giving authorization to the Agent to so record) such Intellectual Property Security Agreements with the U.S. Copyright Office or the U.S. Patent and Trademark Office and any other
        intellectual property offices that the Agent may require, as applicable, and take any such other action as may be necessary, or as the Agent may request, to perfect the Agent’s security interest in such Intellectual Property Collateral.

       

      (ii)          Promptly following the creation or other acquisition of any Intellectual Property Collateral created or acquired by any Grantor after the date hereof which is registered or becomes
        registered or the subject of an application for registration with the U.S. Copyright Office or the U.S. Patent and Trademark Office, as applicable, such Grantor shall modify this Agreement by amending Schedule 2 to include any Intellectual
        Property Collateral which becomes part of the Collateral and which was not included on Schedule 2 as of the date hereof and record such Intellectual Property Security Agreement with the U.S. Copyright Office or the U.S. Patent and Trademark
        Office and any other intellectual property offices that the Agent may request, as applicable, and take (or cause to be taken) such other action as may be necessary, or as the Agent or the Majority Lenders may request, to perfect the Agent’s
        security interest in such Intellectual Property Collateral.

       

      
        
          (e) Documents, Etc. 

              Each Grantor shall deliver to the Agent, or an agent designated by it, appropriately endorsed or accompanied by appropriate instruments of transfer or assignment, all Documents and Chattel Paper, and all other Rights to Payment at any time
              evidenced by promissory notes, trade acceptances or other instruments, not already delivered hereunder pursuant to this Section 3. Upon the reasonable request of the Agent, the Grantors shall mark all Documents and Chattel Paper with
              such legends as the Agent shall reasonably specify.

           

            

          
            
              

          

        

      

      
        
          (f) Bailees.  Any
              Person (other than the Agent) at any time and from time to time holding all or any portion of the Collateral shall be deemed to, and shall, hold the Collateral as the agent of, and as pledge holder for, the Agent. At any time and from time to
              time, the Agent may give notice to any such Person holding all or any portion of the Collateral that such Person is holding the Collateral as the agent and bailee of, and as pledge holder for, the Agent, and obtain such Person’s written
              acknowledgment thereof, in form and substance satisfactory to the Agent.  Without limiting the generality of the foregoing, each Grantor will join with the Agent in notifying any Person who has possession of any Collateral of the Agent’s
              security interest therein and obtaining an acknowledgment from such Person that it is holding the Collateral for the benefit of the Agent.

           

            

        

      

      
        
          (g) Control. 
              Each Grantor will cooperate with the Agent in obtaining control (as defined in the UCC) of or otherwise obtaining a perfected security interest in the Collateral consisting of any Deposit Accounts, Electronic Chattel Paper, Investment
              Property or Letter-of-Credit Rights, including delivery of Control Agreements, in form and substance satisfactory to the Agent, as the Agent may request, to perfect, continue the perfection of, maintain the priority of or provide notice of
              the Agent’s security interest in such Collateral.

           

            

        

      

      
        
          (h) Additional
                Capital Securities.  In the event that any Grantor acquires any Pledged Collateral after the date hereof, such Grantor shall deliver to the Agent a pledge supplement, duly executed by such Grantor and substantially in the form of Exhibit B
              (the “Pledge Supplement”), together with all schedules thereto, reflecting such additional Pledged Collateral, and the certificates and other documents required to be delivered pursuant to Section 3(b) in respect of such
              additional Pledged Collateral. Notwithstanding the foregoing, it is understood and agreed that the security interest of the Agent shall attach to such Pledged Collateral immediately upon any Grantor’s acquisition of rights therein and shall
              not be affected by the failure of any Grantor to deliver a Pledge Supplement.

           

            

        

      

      
        
          (i) Further
                Assurances.  Each Grantor agrees to, at its own expense, promptly execute and deliver all further instruments and documents and take all other commercially reasonable actions as the Agent may reasonably request to perfect, preserve and
              protect any security interest granted or purported to be granted hereby or to enable the Agent to exercise and enforce its rights and remedies hereunder with respect to any Collateral.

           

            

        

      

      SECTION 4          Representations and Warranties.  Each Grantor represents and warrants to each Secured Party that:

       

      
        
          (a) Location of Chief
                Executive Office and Collateral.  Such Grantor’s chief executive office and principal place of business (as of the date of this Agreement) is located at the address set forth in Schedule 1, and all other locations (as of the
              date of this Agreement) where such Grantor conducts business or Collateral is kept are set forth in Schedule 1.

           

            

        

      

      
        
          (b) Locations of
                Books.  All locations where Books pertaining to the Rights to Payment of such Grantor are kept, including all equipment necessary for accessing such Books and the names and addresses of all service bureaus, computer or data processing
              companies and other Persons keeping any Books or collecting Rights to Payment for such Grantor, are set forth in Schedule 1.

           

            

          
            
              

          

        

      

      
        
          (c) Jurisdiction of
                Organization and Names.  Such Grantor’s jurisdiction of organization is set forth in Schedule 1, and such Grantor’s exact legal name is as set forth in the signature pages of this Agreement. All trade names and trade styles
              under which such Grantor presently conducts its business operations are set forth in Schedule 1, and, except as set forth in Schedule 1, such Grantor has not, at any time in the last five years: (i) been known as or used any
              other corporate, trade or fictitious name; (ii) changed its name; (iii) been the surviving or resulting corporation in a merger or consolidation; or (iv) acquired through asset purchase or otherwise any business of any Person.

           

            

        

      

      
        
          (d) Collateral. 
              Such Grantor has rights in or the power to transfer the Collateral, and such Grantor is the sole and complete owner of the Collateral (or, in the case of after-acquired Collateral, at the time such Grantor acquires rights in such Collateral,
              will be the sole and complete owner thereof), free from any Liens other than Permitted Liens.

           

            

        

      

      
        
          (e) Enforceability; Priority of Security
                Interest.

           

            

        

      

      (i)          This Agreement creates a security interest which is enforceable against the Collateral in which such Grantor now has rights and will create a security interest which is enforceable
        against the Collateral in which such Grantor hereafter acquires rights at the time such Grantor acquires any such rights; and

       

      (ii)          the Agent has a perfected and first priority security interest in the Collateral in which such Grantor now has rights, and will have a perfected and first priority security interest
        in the Collateral in which such Grantor hereafter acquires rights at the time such Grantor acquires any such rights, in each case, for the Agent’s own benefit and for the ratable benefit of the other Secured Parties, subject to Permitted Liens and
        securing the payment and performance of the Secured Obligations.

       

      
        
          (f) Other Financing Statements.  Other than (i) financing statements filed in connection
              with any Permitted Liens and (ii) financing statements in favor of the Agent for itself and on behalf of the other Secured Parties, no effective financing statement naming such Grantor as debtor, assignor, grantor, mortgagor, pledgor or the
              like and covering all or any part of the Collateral is on file in any filing or recording office in any jurisdiction.

           

            

        

      

      
        
          (g) Rights to
                Payment.

           

            

        

      

      (i)          The Rights to Payment of such Grantor represent valid, binding and enforceable obligations of the account debtors or other Persons obligated thereon, representing undisputed, bona fide
        transactions completed in accordance with the terms and provisions contained in any documents related thereto unless such Rights to Payment are being disputed in good faith by such Grantor and the amount in dispute does not exceed $150,000 in the
        aggregate, and are and will be genuine and what they purport to be;

       

      (ii)          such Grantor has not assigned any of its rights under any of its Rights to Payment except as provided in this Agreement or as set forth in the other Loan Documents; and

       

      (iii)         all Rights to Payment of such Grantor comply in all material respects with all applicable laws concerning form, content and manner of preparation and execution.

       

      
        
          

      

      
        
          (h) Inventory. 
              No Inventory of such Grantor is stored with any bailee, warehouseman or similar Person or on any premises leased to such Grantor, no such Inventory has been consigned to such Grantor or consigned by such Grantor to any Person, nor is any such
              Inventory held by such Grantor for any Person under any “bill and hold” or other arrangement, except as set forth in Schedule 1.

           

            

        

      

      
        
          (i)          Intellectual

                Property.  Except as set forth in Schedule 2, such Grantor does not (directly or through any
              Subsidiary) own, possess or use under any licensing arrangement (other than software that is commercially available to the public) any Intellectual Property, nor is there currently pending before any Governmental Authority any application for
              registration of any Intellectual Property.  The Intellectual Property owned by each Grantor is valid and enforceable, and where the subject of a registration or application for registration, subsisting.  Neither the use of any Intellectual
              Property of any Grantor, nor the operation of any Grantor’s business infringes, misappropriates or otherwise violates the Intellectual Property of any other Person. The Grantors exclusively own, or have a valid, enforceable license to, all
              Intellectual Property used in, necessary for or otherwise material to the operation of the business of the Grantors.  Each employee, contractor or other Person responsible for the development, invention or creation of any Intellectual
              Property owned or purported to be owned by a Grantor has executed a valid, enforceable agreement with such Grantor, whereby such employee, contractor or other Person has assigned to such Grantor, pursuant to present, affirmative assignment
              language, all right, title and interest in and to such Intellectual Property.

           

            

        

      

      
        
          (j)          Equipment. 

              None of the Equipment that constitutes Collateral is leased from or to any Person, except as set forth in Schedule 1 or as otherwise disclosed to the Agent and the Lenders.

           

            

        

      

      
        
          (k)         Deposit
                Accounts.  The names and addresses of all financial institutions at which such Grantor maintains its Deposit Accounts, and the account numbers and account names of such Deposit Accounts, are set forth in Schedule 1.

           

            

        

      

      
        
          (l)         Instrument

                Collateral.  (i) Such Grantor has not previously assigned any interest in any Instruments held by such Grantor (other than such interests as will be released on or before the date hereof), (ii) no Person other than such Grantor owns an
              interest in such Instruments (whether as joint holders, participants or otherwise), and (iii) no material default exists under or in respect of such Instruments.

           

            

        

      

      
        
          (m)       Pledged
                Shares, Partnership and LLC Collateral and other Pledged Collateral.  (i) All of the Pledged Shares and Partnership and LLC Collateral of such Grantor have been, and upon issuance any additional Pledged Collateral consisting of Pledged
              Shares, Partnership and LLC Collateral or any other Capital Securities of such Grantor, will be, duly and validly issued, and are and will be fully paid and non-assessable, subject in the case of Partnership and LLC Collateral to future
              assessments required under applicable law and any applicable partnership or operating agreement, (ii) such Grantor is or, in the case of any such additional Pledged Collateral, will be, the legal record and beneficial owner thereof,
              (iii) there are no restrictions on the transferability of such Pledged Collateral or such additional Pledged Collateral to the Agent or with respect to the foreclosure, transfer or disposition thereof by the Agent, except as provided under
              applicable securities or “Blue Sky” laws, (iv) the Pledged Shares and Partnership and LLC Collateral of such Grantor constitute 100% of the issued and outstanding Capital Securities of all directly and indirectly owned Subsidiaries of such
              Grantor, and no securities convertible into or exchangeable for any Capital Securities of any such Subsidiary, or any options, warrants or other commitments entitling any Person to purchase or otherwise acquire any Capital Securities of any
              such Subsidiary, are issued and outstanding, (v) any and all Pledged Collateral Agreements which affect or relate to the voting or giving of written consents with respect to any of the Pledged Shares pledged by such Grantor, and any and all
              other Pledged Collateral Agreements relating to the Partnership and LLC Collateral of such Grantor, have been disclosed in writing to the Agent and the Lenders, and (vi) as to each such Pledged Collateral Agreement relating to the Partnership
              and LLC Collateral of such Grantor (A) such agreement contains the entire agreement between the parties thereto with respect to the subject matter thereof, has not been amended or modified, and is in full force and effect in accordance with
              its terms, (B) there exists no material violation or material default under any such agreement by such Grantor or, to the best knowledge of such Grantor party thereto, the other parties thereto, and (C) such Grantor has not knowingly waived
              or released any of its material rights under or otherwise consented to a material departure from the terms and provisions of any such agreement.

           

            

          
            
              

          

        

      

      
        
          (n) Other Investment
                Property; Instruments; and Chattel Paper.  All Securities Accounts of such Grantor and other Investment Property of such Grantor are set forth in Schedule 1, and all Instruments and Chattel Paper held by such Grantor are also
              set forth in Schedule 1.

           

            

        

      

      
        
          (o) Control
                Agreements.  No Control Agreements exist with respect to any Collateral held by such Grantor other than any Control Agreements in favor of the Agent.

           

            

        

      

      
        
          (p) Letter-of-Credit
                Rights.  Such Grantor does not have any Letter-of-Credit Rights except as set forth in Schedule 1.

           

            

        

      

      
        
          (q) Commercial Tort
                Claims.  Such Grantor does not have any Commercial Tort Claims except as set forth in Schedule 1.

           

            

        

      

      
        
          (r) Leases.  Such
              Grantor is not and will not become a lessee, sublessee or licensee under any real property lease, sublease, license or other agreement governing the location of Collateral at the premises of another Person, including those agreements set
              forth under the heading, “Real Estate Leases” on Schedule 6.17 to the Credit Agreement (together with any amendments, modifications, supplements, addenda, replacements and renewals thereof, each, a “Lease”) pursuant to which the lessor
              or such other Person may obtain any rights in any of the Collateral unless such Grantor uses commercially reasonable efforts to obtain a Leasehold Mortgage from the lessor thereof in favor of  Agent in accordance with the terms and provisions
              of the Credit Agreement.

           

            

        

      

      SECTION 5          Covenants.  So long as any of the Secured Obligations (other than inchoate indemnification and expense reimbursement obligations for which no claim has been asserted)
        remain outstanding, each Grantor agrees that:

       

      
        
          (a) Defense of
                Collateral.  Such Grantor will appear in and defend any action, suit or proceeding which may affect to a material extent its title to, or right or interest in, or the Agent’s right or interest in, the Collateral.

           

            

        

      

      
        
          (b) Preservation of
                Collateral.  Such Grantor will do and perform all reasonable acts that may be necessary and appropriate to maintain, preserve and protect the Collateral.

           

            

        

      

      
        
          (c) Compliance with
                Laws, Etc.  Such Grantor will comply with all laws, regulations and ordinances, and all policies of insurance, relating to the possession, operation, maintenance and control of the Collateral having a value in excess of $150,000 in the
              aggregate.

           

            

          
            
              

          

        

      

      
        
          (d) Location of Books
                and Chief Executive Office.  Such Grantor will: (i) keep all Books pertaining to the Rights to Payment of such Grantor at the locations set forth in Schedule 1; and (ii) give at least ten (10) days’ prior written notice to the
              Agent of (A) any changes in any location where Books pertaining to the Rights to Payment of such Grantor are kept, including any change of name or address of any service bureau, computer or data processing company or other Person preparing or
              maintaining any such Books or collecting Rights to Payment for such Grantor or (B) any changes in the location of such Grantor’s chief executive office or principal place of business.

           

            

        

      

      
        
          (e) Location of Collateral.  Such
              Grantor will:

           

            

        

      

      (i)          keep the Collateral held by such Grantor at the locations set forth in Schedule 1 or at such other locations as may be disclosed in writing to the Agent pursuant to clause
        (ii) and will not remove any such Collateral from such locations (other than in connection with sales of Inventory in the ordinary course of such Grantor’s business, other dispositions permitted hereunder or under the Credit Agreement and movements
        of Collateral from one disclosed location to another disclosed location within the United States), except upon at least ten (10) days’ prior written notice of any removal to the Agent; and

       

      (ii)          give the Agent at least ten (10) days’ prior written notice of any change in the locations set forth in Schedule 1.

       

      
        
          (f) Change in Name,
                Identity or Structure.  No Grantor will (i) change its legal name or any trade name used to identify it in the conduct of its business or ownership of its properties, (ii) change its jurisdiction of organization or legal structure,
              (iii) relocate its chief executive office, principal place of business or any office in which it maintains books or records relating to its business (including the establishment of any new office or facility), (iii) change its registration as
              an organization or (iv) otherwise make any changes in its identity or structure in any manner which might make any financing statement filed hereunder incorrect or misleading.

           

            

        

      

      
        
          (g) Maintenance of
                Records.  Such Grantor will keep separate, accurate and complete Books with respect to the Collateral held by or owned by such Grantor, disclosing the Agent’s security interest hereunder.

           

            

        

      

      
        
          (h) Disposition of
                Collateral.  Such Grantor will not surrender or lose possession of (other than to the Agent), sell, lease, rent, or otherwise dispose of or transfer any of the Collateral held by or owned by such Grantor or any right or interest
              therein, other than Permitted Dispositions.

           

            

        

      

      
        
          (i) Liens.  Such Grantor will keep
              the Collateral held by such Grantor free of all Liens except Permitted Liens.

           

            

        

      

      
        
          (j) Leased Premises;
                Collateral Held by Warehouseman, Bailee, Etc.  Except for the Landlord Consents, SNDAs and Leasehold Mortgage required to be delivered pursuant to Section 7.13 of the Credit Agreement, such Grantor hereby agrees to use commercially
              reasonable efforts to deliver to the Agent, within sixty (60) days after the Closing Date (or such later date as the Agent may agree to in its sole discretion) from each Person from whom such Grantor leases any premises, and from each other
              Person at whose premises any Collateral held by such Grantor is at any time present (including any bailee, warehouseman or similar Person), any such Bailee Letter, Leasehold Mortgage, collateral access, subordination, consent and estoppel
              agreements as the Agent may reasonably require, in form and substance satisfactory to the Agent.  With respect to any new Lease or modification or amendment to a Lease, each Grantor will use commercially reasonable efforts to include therein
              a waiver of the lessor lien rights, including a waiver of all statutory lien rights, to the Collateral and a requirement for such lessor to enter into a Landlord Consent and deliver a SNDA in form and substance satisfactory to the Agent. 
              Further, with respect to any new Lease or other agreements or arrangements entered into or occurring after the date hereof, each Grantor hereby agrees to use commercially reasonable efforts to deliver to Agent from each Person from whom such
              Grantor leases any premises, and from each other Person at whose premises any Collateral held by such Grantor is at any time present (including any bailee, warehouseman or similar Person), any such Bailee Letter, Landlord Consent, SNDA,
              Leasehold Mortgage, collateral access, subordination, consent and estoppel agreements as the Agent may reasonably require, in form and substance satisfactory to the Agent.

           

            

          
            
              

          

        

      

      
        
          (k) Rights to Payment.  Such
              Grantor will:

           

            

        

      

      (i)          as may be required under the Credit Agreement, furnish to the Agent full and complete reports, in form and substance satisfactory to the Agent, with respect to the Accounts;

       

      (ii)          if any Accounts of such Grantor arise from contracts with the United States or any department, agency or instrumentality thereof, promptly notify the Agent thereof and execute any
        documents and instruments and take any other steps reasonably requested by the Agent in order that all monies due and to become due thereunder shall be assigned to the Agent and notice thereof given to the Federal authorities under the Federal
        Assignment of Claims Act;

       

      (iii)          upon the written request of the Agent upon the occurrence and during the continuation of an Event of Default (A) notify all or any designated portion of the account debtors and
        other obligors on the Rights to Payment of such Grantor of the security interest hereunder, and (B) notify the account debtors and other obligors on the Rights to Payment or any designated portion thereof that payment shall be made directly to the
        Agent or to such other Person or location as the Agent shall specify; and

       

      (iv)          upon the occurrence and during the continuation of any Event of Default, establish such lockbox or similar arrangements for the payment of the Accounts and other Rights to Payment of
        such Grantor as the Agent shall require.

       

      
        
          (l) Instruments,
                Investment Property, Etc.  Upon the written request of the Agent, such Grantor will (i) promptly deliver to the Agent, or an agent designated by it, appropriately endorsed or accompanied by appropriate instruments of transfer or
              assignment, all Instruments, Documents, Chattel Paper and certificated Capital Securities with respect to any Investment Property held by such Grantor, all letters of credit of such Grantor, and all other Rights to Payment held by such
              Grantor at any time evidenced by promissory notes, trade acceptances or other instruments, (ii) cause any securities intermediaries to show on their books that the Agent is the entitlement holder with respect to any Investment Property held
              by such securities intermediary on behalf of such Grantor, and/or obtain Control Agreements in favor of the Agent from such securities intermediaries, in form and substance satisfactory to the Agent, with respect to any such Investment
              Property, as reasonably requested by the Agent, and (iii) provide such notice, obtain such acknowledgments and take all such other action, with respect to any Chattel Paper, Documents and Letter-of-Credit Rights held by such Grantor, as the
              Agent shall reasonably specify.

           

            

        

      

      
        
          (m) Deposit Accounts
                and Securities Accounts.  Such Grantor will give the Agent prompt notice of the establishment of any new Deposit Account and of any new Securities Account established by such Grantor with respect to any Investment Property held by such
              Grantor.

           

            

        

      

      
        
          (n) Inventory. 
              Other than those locations identified in Schedule 1, such Grantor will not (i) store any Inventory with a bailee, warehouseman or similar Person or on premises leased to such Grantor, (ii) dispose of any Inventory on a bill-and-hold,
              guaranteed sale, sale and return, sale on approval, consignment or similar basis, or (iii) acquire any Inventory from any Person on any such basis.

           

            

          
            
              

          

        

      

      
        
          (o) Intellectual Property Collateral. 

              Such Grantor:

           

            

        

      

      (i)          will not allow or suffer any Intellectual Property Collateral held by such Grantor to lapse or become abandoned, nor any registration
        thereof to be terminated, forfeited, expired or dedicated to the public, except as reasonable and appropriate in accordance with prudent business practices;

       

      (ii)          will diligently prosecute all applications for Patents and Trademarks, and file and prosecute any and all continuations,
        continuations-in-part, applications for reissue, applications for certificate of correction and like matters as reasonable and appropriate in accordance with prudent business practice, and promptly and timely pay any and all maintenance, license,
        registration and other fees, Taxes and expenses incurred in connection with any Intellectual Property Collateral held by such Grantor; and

       

      (iii)          will not license any Intellectual Property Collateral to any third party except to the extent expressly permitted by the Credit Agreement.

       

      
        
          (p) Notices, Reports
                and Information.  Such Grantor will (i) promptly notify the Agent of any other modifications of or additions to the information contained in Schedule 1 (including any acquisition or holding of an interest in any Chattel Paper,
              Commercial Tort Claims and Letter-of-Credit Rights); (ii) promptly notify the Agent of any claim made or asserted against the Collateral having a value in excess of $150,000 in the aggregate by any Person and of any change in the composition
              of the Collateral or other event which could materially adversely affect the value of the Collateral or the Agent’s security interest thereon; (iii) promptly furnish to the Agent such listings, descriptions and schedules with respect to the
              Equipment and Inventory of such Grantor, and such other reports and other information in connection with the Collateral, as the Agent may reasonably request in writing, all in reasonable detail; and (iv) upon the reasonable written request of
              the Agent make such demands and requests for information and reports as such Grantor is entitled to make in respect of the Collateral.

           

            

        

      

      
        
          (q) Shareholder Agreements and Other
                Agreements.  Such Grantor shall:

           

            

        

      

      (i)          comply in all material respects with all of its obligations under any shareholders agreement, operating agreement, partnership agreement, voting trust, proxy agreement or other
        agreement or understanding (collectively, the “Pledged Collateral Agreements”) to which it is a party and shall enforce all of its rights thereunder;

       

      (ii)          take all actions necessary to cause each such Pledged Collateral Agreement relating to Partnership and LLC Collateral to (A) not include in its Pledged Collateral Agreements any
        provision that any Capital Securities in such Partnership and LLC Collateral be a “security” as defined under Article 8 of the UCC; and (B) provide specifically at all times that no consent of any member, manager, partner or other Person shall be a
        condition to the admission as a member or partner of any transferee (including the Agent) that acquires ownership of such Partnership and LLC Collateral as a result of the exercise by the Agent of any remedy hereunder or under applicable Law;

       

      (iii)          not take vote or enable to take any other action to certificate any Pledged Shares or Partnership and LLC Collateral of any Grantor to the extent such Pledged Shares or Partnership
        and LLC Collateral is not certificated as of the Closing Date, unless such Grantor delivers a certificate evidencing such Capital Security to the Agent in accordance with this Agreement; and

       

      
        
          

      

      (iv)          not vote to enable or take any other action to: (A) amend or terminate, or waive compliance with any of the terms of, any such Pledged Collateral Agreement, certificate or articles
        of incorporation, bylaws or other organizational documents in any way that materially changes the rights of such Grantor with respect to any such Pledged Collateral in a manner materially adverse to the Agent or the other Secured Parties or that
        adversely affects the validity, perfection or priority of the Agent’s security interest therein.

       

      (v)          Additionally, such Grantor agrees that no such Partnership and LLC Collateral (A) shall be dealt in or traded on any securities exchange or in any securities market, (B) shall
        constitute an investment company security, or (C) shall be held by such Grantor in a Securities Account.

       

      
        
          (r) Insurance.  Such Grantor shall:

           

            

        

      

      (i)          carry and maintain in full force and effect, at the expense of such Grantor and with financially sound and reputable insurance companies,
        insurance with respect to the Collateral held by such Grantor in such amounts, with such deductibles and covering such risks in accordance with Section 7.4 of the Credit Agreement. Upon the reasonable written request of the Agent, and in any event
        not less often than annually, such Grantor shall furnish the Agent with full information as to the insurance carried by it and, if so requested, copies of all such insurance policies. All insurance policies required under this subsection (r) shall
        provide that they shall not be terminated or cancelled without at least thirty (30) days’ prior written notice to the applicable Grantor and the Agent (or ten (10) days’ prior written notice if the Agent consents to such shorter notice). Receipt of
        notice of termination or cancellation of any such insurance policies or reduction of coverages or amounts thereunder shall entitle the Agent to renew any such policies, cause the coverages and amounts thereof to be maintained at levels required
        pursuant to the first sentence of this subsection (r) or otherwise to obtain similar insurance in place of such policies, in each case at the expense of the Grantors; and

       

      (ii)          give prompt notice to the Agent if there is an Event of Loss in connection with any Collateral of such Grantor and make any mandatory prepayments of the Loans to the extent required
        by Section 3.2(c) of the Credit Agreement.

       

      SECTION 6          Rights to Payment and Pledged Collateral.

       

      
        
          (a)   Collection of
                Rights to Payment.  Until the Agent exercises its rights hereunder to collect any Rights to Payment of any Grantor, each such Grantor shall endeavor in the first instance diligently to collect all amounts due or to become due on or with
              respect to the Rights to Payment held by such Grantor. At the request of the Agent, upon the occurrence and during the continuation of any Event of Default, all remittances received by such Grantor shall be held in trust for the Agent and, in
              accordance with the Agent’s instructions, remitted to the Agent or deposited to an account with the Agent in the form received (with any necessary endorsements or instruments of assignment or transfer) to be applied to the repayment of the
              Loans in accordance with the terms of the Credit Agreement.

           

            

          
            
              

          

        

      

      
        
          (b) Pledged
                Collateral.  Unless and until an Event of Default has occurred and is continuing, each Grantor shall be entitled to receive and retain for its own account any cash dividend on or other cash distribution or payment, if any, in respect of
              the Pledged Collateral, to the extent consistent with the Credit Agreement or the Guaranty, as applicable; provided, however, that, except in connection with transactions permitted under Section 8.5 or Section 8.6 of the
              Credit Agreement, such Grantor shall not be entitled to receive (i) cash paid, payable or otherwise distributed in redemption of, or in exchange for or in substitution of, any Pledged Collateral held by such Grantor, or (ii) dividends and
              other distributions paid or payable in cash in respect of any such Pledged Collateral in connection with a partial or total liquidation or dissolution of any Person whose ownership interests constitute Pledged Collateral or in connection with
              a reduction of capital, capital surplus or paid-in-surplus or any other type of recapitalization involving any such Person. At the written request of the Agent, upon the occurrence and during the continuation of any Event of Default, the
              Agent shall be entitled to receive all distributions and payments of any nature with respect to any Pledged Collateral, and all such distributions or payments received by such Grantor shall be held in trust for the Agent and, in accordance
              with the Agent’s instructions, remitted to the Agent or deposited to an account with the Agent in the form received (with any necessary endorsements or instruments of assignment or transfer). Following the occurrence and continuation of an
              Event of Default, any such distributions and payments with respect to any such Pledged Collateral held in any Securities Account shall be held and retained in such Securities Account, in each case as part of the Collateral hereunder.
              Additionally, the Agent shall have the right, upon the occurrence and continuation of an Event of Default, following prior written notice to any applicable Grantor, to vote and to give consents, ratifications and waivers with respect to any
              Pledged Collateral held by such Grantor, and to exercise all rights of conversion, exchange, subscription or any other rights, privileges or options pertaining thereto, as if the Agent were the absolute owner thereof; provided that
              the Agent shall have no duty to exercise any of the foregoing rights afforded to it and shall not be responsible to such Grantor or any other Person for any failure to do so or delay in doing so.

           

            

        

      

      
        
          (c) Voting Prior to
                an Event of Default.  Unless and until an Event of Default has occurred and is continuing, each Grantor shall have the right to vote the Pledged Collateral held by such Grantor and to give consents, ratifications and waivers in respect
              thereof, and shall retain the power to control the direction, management and policies of any Person comprising such Pledged Collateral to the same extent as such Grantor would if such Pledged Collateral were not pledged to the Agent pursuant
              to this Agreement; provided, however, that no vote shall be cast or consent, waiver or ratification given or action taken which would have the effect of materially impairing the position or interest of the Agent and the other
              Secured Parties in respect of such Pledged Collateral or which would alter the voting rights with respect to the stock or other ownership interest in or of any such Person or be inconsistent with or violate any provision of this Agreement,
              the Credit Agreement, or any other Loan Documents. If applicable, such Grantor shall be deemed the beneficial owner of all such Pledged Collateral for purposes of Sections 13 and 16 of the Exchange Act and agrees to file all reports required
              to be filed by beneficial owners of securities thereunder. The Agent shall execute and deliver (or cause to be executed and delivered) to each Grantor all such proxies and other instruments as such Grantor may reasonably request for the
              purpose of enabling such Grantor to exercise the voting and other rights which it is entitled to exercise pursuant to this subsection (c) and to receive the distributions which it is authorized to receive and retain pursuant to this subsection (c).

           

            

        

      

      
        
          (d) Certain Other
                Administrative Matters.  Following the occurrence and continuation of an Event of Default, the Agent may cause any of the Pledged Collateral to be transferred into its name or into the name of its nominee or nominees (subject to the
              revocable rights specified in this Section 6). The Agent shall at all times have the right to exchange uncertificated Pledged Collateral for certificated Pledged Collateral, and to exchange certificated Pledged Collateral for
              certificates of larger or smaller denominations, for any purpose consistent with this Agreement.

           

            

          
            
              

          

        

      

      SECTION 7          Authorization; Agent Appointed Attorney-in-Fact.  In addition to (and not in limitation of) any other right or remedy provided to the Agent hereunder, the Agent shall have
        the right to, in the name of any Grantor, or in the name of the Agent or otherwise, without notice to or assent by any such Grantor, and each Grantor hereby constitutes and appoints the Agent (and any of the Agent’s officers or employees or agents
        designated by the Agent) as such Grantor’s true and lawful attorney-in-fact, with full power and authority to:

       

      (a)          file any of the financing statements which must be filed to perfect or continue to perfect, maintain the priority of or provide notice of the Agent’s security interest in the
        Collateral;

       

      (b)          take possession of and endorse any notes, acceptances, checks, drafts, money orders or other forms of payment or security and collect any Proceeds of any Collateral;

       

      (c)          sign and endorse any invoice or bill of lading relating to any of the Collateral, warehouse or storage receipts, drafts against customers or other obligors, assignments, notices of
        assignment, verifications and notices to customers or other obligors;

       

      (d)          notify the U.S. Postal Service and other postal authorities to change the address for delivery of mail addressed to such Grantor to such address as the Agent may designate; and,
        without limiting the generality of the foregoing, establish with any Person lockbox or similar arrangements for the payment of the Rights to Payment of such Grantor;

       

      (e)          receive, open and dispose of all mail addressed to such Grantor;

       

      (f)          send requests for verification of Rights to Payment to the customers or other obligors of such Grantor;

       

      (g)          contact, or direct such Grantor to contact, all account debtors and other obligors on the Rights to Payment of such Grantor and instruct such account debtors and other obligors to make
        all payments directly to the Agent;

       

      (h)          assert, adjust, sue for, compromise or release any claims under any policies of insurance;

       

      (i)          exercise dominion and control over, and refuse to permit further withdrawals from, any Deposit Accounts of such Grantor maintained with the Agent, any Lender or any other bank,
        financial institution or other Person;

       

      (j)          notify each Person maintaining lockbox or similar arrangements for the payment of the Rights to Payment of such Grantor to remit all amounts representing collections on such Rights to
        Payment directly to the Agent;

       

      (k)          ask, demand, collect, receive and give acquittances and receipts for any and all Rights to Payment of such Grantor, enforce payment or any other rights in respect of the Rights to
        Payment and other Collateral, grant consents, agree to any amendments, modifications or waivers of the agreements and documents governing such Rights to Payment and other Collateral, and otherwise file any claims, take any action or institute,
        defend, settle or adjust any actions, suits or proceedings with respect to the Collateral, as the Agent may deem necessary or desirable to maintain, preserve and protect the Collateral, to collect the Collateral or to enforce the rights of the
        Agent with respect to the Collateral;

       

      (l)          execute any and all applications, documents, papers and instruments necessary for the Agent to use the Intellectual Property Collateral and grant or issue any exclusive or
        non-exclusive license or sublicense with respect to any Intellectual Property Collateral;

       

      
        
          

      

      (m)          execute any and all endorsements, assignments or other documents and instruments necessary to sell, lease, assign, convey or otherwise transfer title in or dispose of the Collateral;

       

      (n)          execute and deliver to any securities intermediary or other Person any entitlement order or other notice, document or instrument which the Agent may deem necessary or advisable to
        maintain, protect, realize upon and preserve the Deposit Accounts and Investment Property of such Grantor and the Agent’s security interest therein; and

       

      (o)          execute any and all such other documents and instruments, and do any and all acts and things for and on behalf of such Grantor, in each case which the Agent may deem necessary or
        advisable to maintain, protect, realize upon and preserve the Collateral and the Agent’s security interest therein and to accomplish the purposes of this Agreement.

       

      The Agent agrees that, except upon the occurrence and continuation of an Event of Default, it shall not exercise the power of attorney, or any rights granted to the Agent, pursuant to clauses (b) through (o). 

        The foregoing power of attorney is coupled with an interest and irrevocable so long as the Secured Obligations (other than inchoate indemnification and expense reimbursement obligations for which no claim has been asserted) have not been Paid In
        Full. Each Grantor hereby ratifies, to the extent permitted by law, all that the Agent shall lawfully and in good faith do or cause to be done by virtue of and in compliance with this Section 7.

       

      SECTION 8          Agent Performance of Grantor Obligations.  The Agent may perform or pay any obligation which any Grantor has agreed to perform or pay under or in connection with this
        Agreement, and such Grantor shall reimburse the Agent on written demand for any amounts paid, or costs incurred, by the Agent pursuant to this Section 8.

       

      SECTION 9          Agent’s Duties.  Notwithstanding any provision contained in this Agreement, the Agent shall have no duty to exercise any of the rights, privileges or powers afforded to it
        and shall not be responsible to any Grantor or any other Person for any failure to do so or delay in doing so. Beyond the exercise of reasonable care to assure the safe custody of Collateral in the Agent’s possession and the accounting for moneys
        actually received by the Agent hereunder and as otherwise required by applicable law, the Agent shall have no duty or liability to exercise or preserve any rights, privileges or powers pertaining to the Collateral.

       

      SECTION 10          Remedies.

       

      
        
          (a) Remedies. 
              Upon the occurrence and during the continuation of any Event of Default, the Agent shall have, in addition to all other rights and remedies granted to it in this Agreement, the Credit Agreement, the Guaranty or any other Loan Document, all
              rights and remedies of a secured party under the UCC and other applicable laws. Without limiting the generality of the foregoing, each Grantor agrees that:

           

            

        

      

      (i)          The Agent may collect, receive, appropriate and realize upon all or any part of the Collateral, and demand, give receipt for, settle, renew, extend, exchange, compromise, adjust, or
        sue for all or any part of the Collateral, as the Agent may determine.

       

      (ii)          The Agent may require such Grantor to assemble all or any part of the Collateral and make it available to the Agent, at any place and time designated by the Agent.

       

      
        
          

      

      (iii)          The Agent may use or transfer any of such Grantor’s rights and interests in any Intellectual Property Collateral, by license, by sublicense (to the extent permitted by an applicable
        license) or otherwise, on such conditions and in such manner as the Agent may reasonably determine.

       

      (iv)          The Agent may secure the appointment of a receiver of the Collateral or any part thereof (to the extent and in the manner provided by applicable law).

       

      (v)          The Agent may withdraw (or cause to be withdrawn) any and all funds from any Deposit Accounts or Securities Accounts.

       

      (vi)          The Agent may sell, resell, lease, use, assign, transfer or otherwise dispose of any or all of the Collateral in its then condition or following any commercially reasonable
        preparation or processing (utilizing in connection therewith any of such Grantor’s assets, without charge or liability to the Agent therefor) at public or private sale, by one or more contracts, in one or more parcels, at the same or different
        times, for cash or credit or for future delivery without assumption of any credit risk, all as the Agent deems advisable in accordance with the UCC or other applicable law; provided, however, that such Grantor shall be credited with
        the net proceeds of sale only when such proceeds are finally collected by the Agent. The Agent and each of the other Secured Parties shall have the right upon any such public sale, and, to the extent permitted by law, upon any such private sale, to
        purchase the whole or any part of the Collateral so sold, free of any right or equity of redemption, which right or equity of redemption such Grantor hereby releases, to the extent permitted by law. The Agent shall give such Grantor such notice of
        any public or private sale as may be required by the UCC or other applicable law. Such Grantor recognizes that the Agent may be unable to make a public sale of any or all of the Pledged Collateral, by reason of prohibitions contained in applicable
        securities laws or otherwise, and expressly agrees that a private sale to a restricted group of purchasers for investment and not with a view to any distribution thereof shall be considered a commercially reasonable sale.

       

      (vii)          Neither the Agent nor any other Secured Party shall have any obligation to clean up or otherwise prepare the Collateral for sale. The Agent has no obligation to attempt to satisfy
        the Secured Obligations by collecting them from any other Person liable for them and the Agent and the other Secured Parties may release, modify or waive any Collateral provided by any other Person to secure any of the Secured Obligations, all
        without affecting the Agent’s or any other Secured Party’s rights against such Grantor. Such Grantor waives any right it may have to require the Agent or any other Secured Party to pursue any third Person for any of the Secured Obligations. The
        Agent and the other Secured Parties may comply with any applicable state or federal law requirements in connection with a disposition of the Collateral and compliance will not be considered adversely to affect the commercial reasonableness of any
        sale of the Collateral so long as the Agent and the Secured Parties have complied with the UCC or other applicable law in connection with the disposition of any Collateral. The Agent may sell the Collateral without giving any warranties as to the
        Collateral. The Agent may specifically disclaim any warranties of title or the like. This procedure will not be considered adversely to affect the commercial reasonableness of any sale of the Collateral. If the Agent sells any of the Collateral
        upon credit, such Grantor will be credited only with payments actually made by the purchaser, received by the Agent and applied to the indebtedness of the purchaser. In the event the purchaser fails to pay for the Collateral, the Agent may resell
        the Collateral and the Grantors shall be credited with the proceeds of the sale.

       

      
        
          (b) License.  For the purpose of
              enabling the Agent to exercise its rights and remedies under this Section 10 or otherwise in connection with this Agreement, each Grantor hereby grants to the Agent an irrevocable, non-exclusive and assignable license (exercisable
              without payment or royalty or other compensation to such Grantor) to use, license or sublicense any Intellectual Property Collateral.

           

            

          
            
              

          

        

      

      
        
          (c) Application of Proceeds.  The cash proceeds actually received from the sale or other
              disposition or collection of any Grantor’s Collateral, and any other amounts received in respect of such Collateral the application of which is not otherwise provided for herein, shall be applied as provided in Section 4.4(b) of the Credit
              Agreement. Any surplus thereof which exists after payment and performance in full of the Secured Obligations shall be promptly paid over to such Grantor or otherwise disposed of in accordance with the UCC or other applicable law. Each Grantor
              shall remain liable to the Agent and the other Secured Parties for any deficiency which exists after any sale or other disposition or collection of Collateral.

           

            

        

      

      SECTION 11          Certain Waivers.  Each Grantor waives, to the fullest extent permitted by law, (a) any right of redemption with respect to the Collateral, whether before or after sale
        hereunder, and all rights, if any, of marshalling of the Collateral or other collateral or security for the Secured Obligations; (b) any right to require the Agent or the other Secured Parties (i) to proceed against any Person, (ii) to exhaust any
        other collateral or security for any of the Secured Obligations, (iii) to pursue any remedy in the Agent’s or any of the other Secured Parties’ power, or (iv) to make or give any presentments, demands for performance, notices of nonperformance,
        protests, notices of protests or notices of dishonor in connection with any of the Collateral; and (c) all claims, damages, and demands against the Agent or the other Secured Parties arising out of the repossession, retention, sale or application
        of the proceeds of any sale of the Collateral.

       

      SECTION 12          Notices.  All notices or other communications hereunder shall be given in the manner and to the addresses specified in Section 11.2 of the Credit Agreement. Any notice,
        if mailed and properly addressed with postage prepaid or if properly addressed and sent by pre-paid courier service, shall be deemed given when received; any notice, if transmitted by facsimile or email, shall be deemed given when the confirmation
        of transmission thereof is received by the transmitter.

       

      SECTION 13          No Waiver; Cumulative Remedies.  No failure on the part of the Agent or any other Secured Party to exercise, and no delay in exercising, any right, remedy, power or
        privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, remedy, power or privilege preclude any other or further exercise thereof or the exercise of any other right, remedy, power or
        privilege. The rights and remedies under this Agreement are cumulative and not exclusive of any rights, remedies, powers and privileges that may otherwise be available to the Agent or any other Secured Party.

       

      SECTION 14          Binding Effect.  This Agreement shall be binding upon, inure to the benefit of and be enforceable by each Grantor, the Agent, each Secured Party and their respective
        successors and permitted assigns and shall bind any Person who becomes bound as a debtor, agent or secured party to this Agreement.

       

      SECTION 15          Governing Law.  THIS AGREEMENT AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING
        TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT CONTEMPLATED HEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING FOR SUCH PURPOSE SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS
        LAW OF THE STATE OF NEW YORK).

       

      
        
          

      

      SECTION 16          Submission to Jurisdiction.

       

      
        
          (a)          Submission

                to Jurisdiction.  Any litigation based hereon, or arising out of, under, or in connection with, this Agreement, or any course of conduct, course of dealing, statements (whether oral or written) or actions of the Agent or any Grantor (or
              any of their Subsidiaries) in connection herewith shall be brought and maintained in the courts of the Borough of Manhattan in the City of New York in the State of New York or in the United States District Court for the Southern District of
              New York; provided that any suit seeking enforcement against any Collateral or other property may be brought, at the Agent’s option, in the courts of any jurisdiction where such Collateral or property may be found.

           

            

        

      

      
        
          (b)          Waiver
                of Venue.  Each party hereby expressly and irrevocably waives, to the fullest extent permitted by law, any objection which it may have or hereafter may have to the laying of venue of any such litigation brought in any such court
              referred to above and any claim that any such litigation has been brought in an inconvenient forum. To the extent that any party has or hereafter may acquire any immunity from jurisdiction of any court or from any legal process (whether
              through service or notice, attachment prior to judgment, attachment in aid of execution or otherwise) with respect to itself or its property, such party hereby irrevocably waives to the fullest extent permitted by law such immunity in respect
              of its obligations, including the Secured Obligations, hereunder.

           

            

        

      

      
        
          (c)          Service
                of Process.  Each party irrevocably consents to the service of process by registered mail, postage prepaid, or by personal service within or without the State of New York at the address for notices specified in Section 11.2 of the
              Credit Agreement. Nothing in this Agreement will affect the right of any party hereto to serve process in any other manner permitted by applicable law.

           

            

        

      

      SECTION 17          Waiver of Jury Trial and Judicial Reference Provision.  EACH PARTY HERETO HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES TO THE FULLEST EXTENT PERMITTED BY LAW
        ANY RIGHTS THEY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH, THIS AGREEMENT, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER ORAL OR WRITTEN) OR ACTIONS OF
        ANY SUCH PARTY IN CONNECTION HEREWITH. EACH PARTY ACKNOWLEDGES AND AGREES THAT IT HAS RECEIVED FULL AND SUFFICIENT CONSIDERATION FOR THIS PROVISION (AND EACH OTHER PROVISION OF EACH OTHER LOAN DOCUMENT TO WHICH IT IS A PARTY) AND THAT THIS
        PROVISION IS A MATERIAL INDUCEMENT FOR THE AGENT AND THE LENDERS ENTERING INTO THE LOAN DOCUMENTS.

       

      If any action or proceeding is filed in a court of the State of California by or against any party hereto in connection with any of the transactions contemplated by this Agreement or any
        other Loan Document, (a) the court shall, and is hereby directed to, make a general reference pursuant to California Code of Civil Procedure Section 638 to a referee (who shall be a single active or retired judge) to hear and determine all of the
        issues in such action or proceeding (whether of fact or of law) and to report a statement of decision, provided that at the option of any party to such proceeding, any such issues pertaining to a “provisional remedy” as defined in California Code
        of Civil Procedure Section 1281.8 shall be heard and determined by the court, and (b) each Grantor shall be solely responsible to pay all fees and expenses of any referee appointed in such action or proceeding.

       

      
        
          

      

      SECTION 18          Entire Agreement; Amendment.  This Agreement constitutes the entire understanding among the parties hereto with respect to the subject matter hereof and supersedes any
        prior agreements, written or oral, with respect thereto. This Agreement shall not be amended except by the written agreement of the parties as provided in the Credit Agreement.

       

      SECTION 19          Severability.  Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such provision and such jurisdiction, be ineffective
        to the extent of such prohibition or unenforceability without invalidating the remaining provisions of this Agreement or affecting the validity or enforceability of such provision in any other jurisdiction.

       

      SECTION 20          Counterparts.  This Agreement may be executed by the parties hereto in several counterparts, each of which shall be an original and all of which shall constitute together
        but one and the same agreement. Delivery of an executed counterpart of a signature page to this Agreement by email (e.g. “pdf” or “tiff”) or telecopy shall be effective as delivery of a manually executed counterpart of this Agreement.

       

      SECTION 21          Incorporation of Provisions of the Credit Agreement.  To the extent the Credit Agreement contains provisions of general applicability to the Loan Documents, including any
        such provisions contained in Article XI thereof, such provisions are incorporated herein by this reference.

       

      SECTION 22          No Inconsistent Requirements.  Each Grantor acknowledges that this Agreement and the other Loan Documents may contain covenants and other terms and provisions variously
        stated regarding the same or similar matters, and agrees that all such covenants, terms and provisions are cumulative and all shall be performed and satisfied in accordance with their respective terms.

       

      SECTION 23          Joinder.  At such time following the date hereof as any Person (an “Joining Grantor”) is required to join this Agreement pursuant to the terms of Section 7.8 of
        the Credit Agreement, such Joining Grantor shall execute and deliver to the Agent a joinder agreement substantially in the form of Exhibit A (a “Joinder Agreement”), signifying its agreement to be bound by the provisions of this
        Agreement as a Grantor to the same extent as if such Joining Grantor had originally executed this Agreement as of the date hereof.

       

      SECTION 24          Termination.  Upon the Payment In Full of all Secured Obligations (other than inchoate indemnification and expense reimbursement obligations for which no claim has been
        asserted), the security interests created by this Agreement shall automatically terminate and the Agent shall promptly execute and deliver to each Grantor (at such Grantor’s expense) such documents and instruments reasonably requested by such
        Grantor as necessary to evidence the termination and release of all security interests given by such Grantor to the Agent hereunder.

       

      [Remainder of page intentionally left blank; signature pages follow]

       

      
        
          

      

      IN WITNESS WHEREOF, the parties hereto have
          duly executed this Agreement as of the date first above written.

       

    

    	 	
            BORROWER:

          
	 	 
	 	
            ADMA BIOLOGICS, INC.

          
	 	 
	 	
            By

          	
            /s/ Brian Lenz

          
	 	 	
            Name: Brian Lenz

          
	 	 	
            Title: Executive Vice President, Chief Financial Officer, and Secretary

          
	 	 
	 	
            SUBSIDIARY GUARANTORS:

          
	 	 
	 	
            ADMA BIOMANUFACTURING, INC.

          
	 	 
	 	
            By

          	
            /s/ Brian Lenz

          
	 	 	
            Name: Brian Lenz

          
	 	 	
            Title: Vice President, Chief Financial Officer

          
	 	 
	 	
            ADMA PLASMA BIOLOGICS, INC.

          
	 	 
	 	
            By

          	
            /s/ Brian Lenz

          
	 	 	
            Name: Brian Lenz

          
	 	 	
            Title: Vice President, Chief Financial Officer

          
	 	 
	 	
            ADMA BIOCENTERS GEORGIA INC.

          
	 	 
	 	
            By

          	
            /s/ Brian Lenz

          
	 	 	
            Name: Brian Lenz

          
	 	 	
            Title: Vice President, Chief Financial Officer

          
	 	 

    
       

      

      [Signature Page to Security Agreement (ADMA Biologics)]

       

    

    
      
        

    

    
      	 	
              AGENT:

            
	 	 
	 	
              HAYFIN SERVICES LLP, as the Agent

            
	 	 
	 	
              By

            	
              /s/ Vikas Mehta_

            
	 	 	
              Name: Vikas Mehta

            
	 	 	
              Title: Authorised Signatory

            

    

     

    

    
      [Signature Page to Security Agreement (ADMA Biologics)]

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