AVAYA HOLDINGS CORP.之間於2023年2月24日簽訂的有擔保債權人佔有的優先權擔保債權協議執行版本， 作為控股公司（《破產法》第11章規定的債務人和佔有債務人），AVAYA INC.， 作為借款人（《破產法》第11章規定的債務人和佔有債務人），花旗銀行，N.A.， 作為行政代理人和抵押代理人，幾個貸款人 各方不時向花旗銀行，N.A.， 作為花旗銀行全球協調員， RBC資本市場，1美國銀行股份有限公司和德意志銀行股份有限公司 作為聯席牽頭行及聯席賬簿管理人1 RBC Capital Markets是加拿大皇家銀行及其附屬機構資本市場活動的品牌名稱。 表10 - 7 i目錄第1頁第1節定義. 2 1.1定義術語...... 2 1.2其他解釋性規定..... 71 1.3會計術語.... 72 1.4舍入. 72 1.5對協議、法律等的引用.... 72 1.6一天的時間...... 73 1.7付款或履約的時間安排.... 73 1.8 [已保留]............................................................................................................. 73 1.9貨幣等價物一般情況...... 73 1.10貸款及借款的分類..... 73 1.11許可留置權... 73 1.12 [已保留] ............................................................................................................. 74 1.13 [已保留]............................................................................................................. 74 1.14分部。.............................................................................................................. 74第2節信用證的金額和條件..... 74 2.1循環信用借款...... 74 2.2每次借款的最低金額;借款的最高次數.... 76 2.3借款、轉換和延續.... 76 2.4資金的支出..... 77 2.5償還貸款;債務證據.... 78 2.6 [已保留] ............................................................................................................. 79 2.7 [已保留].............................................................................................................79 2.8 Interest...................................................................................................................79 2.9利息Periods......................................................................................................80 2.10成本增加、違法等。.............................................................................80 2.11補償.......................................................................................................82 2.12出借處....................................................................................變更83 2.13關於某些費用的通知.........................................................................................83 2.14遞增學分延期..............................................................................83 2.15改裝至ABL設施..........................................................................出口852.16違約貸款人.................................................................................................862.17儲備................................................................................................................87 2.18基準替換設置..........................................................................88 2.19優先權和留置權..................................................................................................89 2.20不得解除；索賠的存活期........................................................................92 2.21 Obligations.........................................................................................的付款92 2.22關於現金管理債務和有擔保對衝債務的報告............................................................................................................92第3節信用額度和週轉額度貸款.......................................................................93 3.1....................................................................................................信用證93 II 3.2擺動額度貸款...............................................................................................102第4款費用；承諾......................................................................................................105 4.1費用.....................................................................................................................105 4.2循環信貸承諾終止或減少，L/C昇華或擺動額度昇華.......................................................................................106第5節Payments........................................................................................................................106 5.1自願提前還款.......................................................................................106 5.2強制提前還款.....................................................................................107 5.3付款方式和地點............................................................................108 5.4淨付款......................................................................................................109 5.5利息和費用的計算......................................................................113 5.6利率.....................................................................................的限制第113節截止日期前的第6條條件..................................................................114 6.1信用證單據...............................................................................................114 6.2抵押品.............................................................................................................114 6.3法律意見....................................................................................................115 6.4成交證書.............................................................................................115 6.5祕書證書；授權各信用方訴訟程序......115 6.6費用.....................................................................................................................115 6.7陳述和保修..........................................................................115 6.8實質性不良反應......................................................................................116 6.9核定預算；DIP預測......................................................................116 6.10[已保留] ........................................................................................................... 116 6.11 [已保留]...........................................................................................................116 6.12政府批准....................................................................................116 6.13《愛國者法案》；受益所有權條例...................................................116 6.14第11章案例.........................................................................................116 6.15[已保留]...........................................................................................................117 6.16無默認...........................................................................................................117 6.17無訴訟.......................................................................................................117 6.18重組支持協議......................................................................117 6.19借款基礎證書；可用性...........................................................117第7條在截止日期後所有信貸展期的先決條件......118 7.1收盤Date........................................................................................................118 7.2訂單..................................................................................................................118 7.3[已保留]...........................................................................................................118 7.4陳述和保修..........................................................................118 7.5無違約或違約事件...........................................................................1187.6借款申請；可用性..................................................................118 7.7不得違反法律...........................................................................................118 7.8費用和開支的支付.........................................................................119 7.9實質性不良反應......................................................................................119 7.10第11章案例.........................................................................................119 III 7.11里程碑...........................................................................................................119 7.12[已保留]...........................................................................................................119 7.13無訴訟.......................................................................................................119第8條陳述和保證.................................................................................119 8.1公司地位；符合Laws...........................................................120 8.2公司權力和權威..........................................................................120 8.3無Violation........................................................................................................120 8.4訴訟.............................................................................................................121 8.5保證金法規.............................................................................................121 8.6政府批准....................................................................................121.8.7投資公司法...................................................................................121 8.8真實而完整的Disclosure............................................................................121 8.9[已保留]...........................................................................................................122 8.10税務事項.........................................................................................................122 8.11符合ERISA.....................................................................................122 8.12子公司.........................................................................................................123 8.13知識產權............................................................................................123 8.14環境法...........................................................................................123 8.15物業............................................................................................................124 8.16無默認...........................................................................................................124 8.17擔保權益.................................................................................................124 8.18勞工事務......................................................................................................125 8.19受制裁人員；反貪污法；愛國者法案......125 8.20使用Proceeds...................................................................................................125 8.21訂單..................................................................................................................125 8.22義務的狀況；擔保權益的完善和優先次序......第126條第9條平權契諾.................................................................................................126 9.1信息Covenants........................................................................................1269.2圖書、記錄和檢查.........................................................................129 9.3保險...................................................................................的維護130 9.4納税................................................................................................130 9.5綜合企業特許經營權....................................................................130 9.6遵守法規、規例等......................................................131.9.7貸款人調用........................................................................................................131 9.8物業保養..................................................................................131 9.9現金管理訂單....................................................................................131 9.10財政年度末.............................................................................................131 9.11額外擔保人及授予人...................................................................131 9.12進一步Assurances..............................................................................................132 9.13 Proceeds...................................................................................................的使用133 9.14[已保留]...........................................................................................................133 9.15商務...........................................................................................的變化133 9.16里程碑...........................................................................................................134 9.17破產事項.............................................................................................1349.18現金管理系統................................................................................一百三十五
IV 9.19評價和實地考試....................................................................138 9.20某些債務的償還......................................................................第138條第10條負面公約.......................................................................................................139 10.1債務限額.................................................................................139 10.2對留置權.............................................................................................的限制142 10.3對根本性變化的限制..................................................................143 10.4處置...................................................................................的限制14410.5投資..................................................................................的限制147 10.6對受限支付的限制.....................................................................149 10.7債務提前還款和Amendments..........................................的限制151 10.8對附屬分派的限制...............................................................151 10.9《組織文件........................................................修正案》153 10.10允許的活動和向母公司轉移......153 10.11與關聯公司................................................................................的交易153 10.12允許的Variance..............................................................................................154 10.13公司間限制...................................................................................155 10.14破產事宜.............................................................................................155 10.15財務契約.............................................................................................第156節第11節違約事件...........................................................................................................156 11.1 Payments.............................................................................................................157份11.2份申述等...........................................................................................15711.3公約............................................................................................................157 11.4其他協議下的違約.......................................................................157 11.5破產案..........................................................................................................15811.6 ERISA.................................................................................................................159 11.7保證............................................................................................................159 11.8安全協議............................................................................................159 11.9判決...........................................................................................................159 11.10控制權變更...............................................................................................159 11.11解僱；轉換........................................................................................159 11.12超優先級索賠...........................................................................................160 11.13逗留救濟...........................................................................................................16011.14訂單；Actions...................................................................................................16011.15預付款..........................................................................................161 11.16[已保留]...........................................................................................................16111.17重組計劃............................................................................................161 11.18支持行動.............................................................................................161 11.19銷售動議.......................................................................................................161 11.20[已保留] ........................................................................................................... 162 11.21 [已保留]........................................... 162 11.22不利訂單.............................162 11.23收益的運用。..............................162第12條代理人......................164 12.1預約.....................................................。。164 v 12.2職責轉授...................................165 12.3免責條文..............165 12.4代理人信賴...................167 12.5失責通知書...................................167 12.6對行政代理、抵押代理和其他貸款人的不信賴行為................................................................ 168 12.7賠償.............168 12.8個以個人身份任職的代理。...............169 12.9繼任代理人...............................170 12.10預繳税金...................................171 12.11行政代理可提交索賠證明...........……171 12.12 ABL債權人間協議.......................172 12.13擔保文件和擔保；擔保文件和擔保下的代理人....................................。。第172條第13條雜項.....................174 13.1修訂、豁免及免除........................174 13.2通知書.......................................177 13.3無豁免；累積補救..................................1.178 13.4申述及保證的存續......。。178 13.5開支的支付；彌償............178 13.6繼承人和受讓人；參與和受讓............. 180 13.7在某些情況下更換貸款人...……185 13.8調整；抵銷..................。186 13.9副本；電子執行........187 13.10可分割性....................................................……187 13.11綜合...........................187 13.12管治法律..............……187 13.13服從司法管轄權；豁免............................ 188 13.14致謝.............188 13.15放棄陪審團審判。..........................................189 13.16保密性..............................................……190 13.17直接網站通信........................ 191 13.18《美國愛國者法案》;《受益所有權條例》.193 13.19付款集Aside.............................................................................................193 13.20判定貨幣.............................................................................................19313.21無現金展期..............................................................................................194 13.22承認並同意受影響金融機構的自救..........................................................................................................194 13.23關於任何受支持的合格FC的確認.....................................194 13.24對制裁條款的限制...................................................................19613.25訂單控制....................................................................................................196 13.26貸款人ERISA申述..........................................................................196 13.27錯誤的Payments............................................................................................197 vi vii附件I轉換日期條件附表1.1(A)貸款人承諾附表1.1(B)信用證附表1.1(C)指明現金管理協議附表1.1(D)客户附表8.4訴訟附表8.12附屬公司附表8.14環境事宜附表8.15財產事宜附表9.18 DDAS附表9.18(A)除外賬户附表10.4預定處置附表10.11成交日期附屬公司交易附表13.2通知處理展品A形式的借款通知/通知週轉額度借款通知的轉換或延續/格式附件B本票格式附件C[已保留]附件D[已保留]附件E[已保留]ABL債權人間協議附件F表格附件G[已保留]附件H[已保留]附件I轉讓和假設表格附件J 1-4非美國貸款人證書表格附件K借款基礎證書表格附件L臨時訂單表格附件M差異報告表格
Avaya控股公司、特拉華州的一家公司、破產法第11章下的債務人和佔有債務人(“控股”)，以控股公司、Avaya Inc.、特拉華州的一家公司和破產法第11章下的債務人和佔有債務人的身份(“借款人”)、本協議的貸款人、本協議的不時當事人、本協議的不時當事人、本協議的發行人和搖擺線貸款人之間簽署的一份日期為2023年2月24日的高級有擔保債務人佔有ABL信貸協議(經不時修訂、重述、補充或以其他方式修改)，和花旗銀行，北卡羅來納州，作為行政代理和抵押代理。摘要：鑑於前言和這些摘要中使用的和未定義的大寫術語應具有本協議第1.1節對此類術語的各自含義；鑑於，於2023年2月14日(“呈請日期”)，借款人、借款人及借款人的若干國內附屬公司(統稱為“債務人”)根據破產法第11章向美國德克薩斯州南區破產法院(該法院連同任何其他不時對此案具有專屬管轄權的法院及其任何聯邦上訴法院，即“破產法院”)提出自願濟助呈請，並開始審理案件。 借款人在貸款項下的所有義務將由擔保人擔保。 在每種情況下，貸方願意根據本協議規定的條款和條件向借方提供此類信貸，信用證簽發人願意向借方簽發信用證。 此外，貸款和其他債務相對於擔保物的各自優先權應在破產法院生效的臨時命令和最終命令中規定。 然而，根據臨時指令、最終指令和信貸文件授予抵押代理人和貸款人的所有關於貸款的索賠和留置權應受分割的限制。 鑑於本協議所包含的前提和契約及協議，雙方特此達成如下協議： 2第1節定義1.1定義的術語如本文所用，除非上下文另有要求，否則以下術語應具有本第1.1節規定的含義：“2023現場檢查/評估儲備金”是指，在不重複任何其他儲備金或項目的情況下，就信貸方而言，作為一個整體，相當於10，000，000美元的金額;前提是，2023年現場檢查/評估儲備金僅適用於截止日期，直至行政代理完成對貸方的滿意現場檢查和庫存評估之日。 “ABL貸款”應具有本協議引言中提供的含義。“ABL優先抵押品”應具有“ABL債權人間協議”下和定義的含義。為免生疑問，在轉換日期後，在當時存在的範圍內，DIP收益賬户、外匯儲備賬户以及其中的所有現金和現金等價物應為ABL優先抵押品。“ABR”是指任何一天的年浮動利率，等於(A)聯邦基金實際利率加1%的1/2，(B)行政代理不時公開宣佈為其“最優惠利率”的該日的有效利率，以及(C)該日(或如果該日不是營業日，則為緊接的前一個營業日)一個月利息期間的調整期限SOFR加上1.00%中的最大者；但如在任何時間，上述(A)或(B)款所述的任何費率低於下限，則(A)或(B)款所述的費率須當作為下限。由於行政代理宣佈的此類利率或聯邦基金有效利率的變化而導致的ABR的任何變化，應在該變化的公開公告中指定的開業日期或聯邦基金有效利率或調整後期限SOFR的生效日期(視情況而定)生效。“ABR貸款”是指以美元計價、以ABR為基礎計息的每筆貸款。“ABR術語SOFR確定日”應具有“術語SOFR”定義中規定的含義。3“帳户”係指(A)任何人因提供貨物或服務而產生的任何貨幣義務的付款權利，以及(B)任何“帳户”(在UCC或PPSA中定義，視具體情況而定)、任何“付款無形資產”(根據UCC中的定義)和任何應收賬款，以及在每種情況下獲得付款和/或補償的任何權利，不論是否通過履約賺取，在每種情況下都是在該人的經營過程中產生的。“賬户債務人”是指對某一賬户負有債務的任何人。14.就任何計算而言，“調整期限SOFR”應指等於(A)此類計算的期限SOFR加上(B)期限SOFR調整的年利率；但如果如此確定的調整期限SOFR應小於下限，則調整期限SOFR應被視為下限。“行政代理人”是指花旗銀行作為本協議和其他信貸文件項下貸款人的行政代理人，或根據第12.9條規定的任何後續行政代理人。“行政代理人辦公室”是指行政代理人的地址和附表13.2所列的適當帳户，或行政代理人可能不時通知借款人和貸款人的其他地址或帳户。“行政調查問卷”是指行政代理人提供的形式的行政調查問卷。“顧問”係指法律顧問、財務顧問、第三方評估師和顧問，就本協議、其他信貸單據和交易的完成向代理人、L/信用證發行人、貸款人及其關聯方提供諮詢，就法律顧問而言，僅限於代理人的一名主要律師(截至成交日為Davis Polk&Wardwell LLP)，如有必要，還指在每個適當的司法管轄區內有一家當地律師事務所(如果發生實際或被認為存在利益衝突的情況，則受衝突影響的人將該衝突通知借款人並在其後聘請其自己的律師)。另一家律師事務所為所有這些受影響的人(作為一個整體))。“受影響的金融機構”指(A)任何歐洲經濟區金融機構或(B)任何美國金融機構。K.金融機構。就任何人而言，“附屬公司”是指直接或間接控制、由該人控制或與該人直接或間接共同控制的任何其他人。如果一人直接或間接擁有通過有表決權證券的所有權或通過合同對該另一人的管理層和政策作出指示的權力，則該人應被視為控制該另一人。術語“管制”和“管制”應具有與之相關的含義。“合計季度認購合同ARR收入”對於借款人的每個會計季度是指(A)上一財季最後一天生效的所有認購合同的合計認購合同ARR和(Ii)該會計季度最後一天有效的所有認購合同的合計ARR除以(B)四(4)之和的算術平均值。“季度認購合同GAAP總收入”是指借款人每個會計季度在根據GAAP確定的該會計季度內所有認購合同產生的收入，包括ASC 606與客户簽訂的合同的規定。“總認購合同ARR”是指在任何時候，當時有效的所有認購合同的總認購合同ARR。“循環信貸承諾總額”是指所有貸款人的循環信貸承諾的總和。“循環信貸風險總額”是指所有貸款人的循環信貸風險風險總額。“代理方”應具有第13.17(D)節規定的含義。“協議”應具有本協議導言段中提供的含義。“協議貨幣”應具有第13.20節規定的含義。“替代貨幣”是指經行政代理和L/信用證簽發人就信用證的簽發批准的每種貨幣(美元除外)。“反腐敗法”應具有第8.19節規定的含義。“適用法律”對任何人而言，指由任何政府當局頒佈、公佈、施加或訂立或同意的任何法律(包括普通法)、成文法、條例、條例、規則、命令、判令、判決、同意判令、令狀、強制令、和解協議或政府規定，在每一種情況下，均適用於該人或其任何財產或資產，或對該人或其任何財產或資產適用或具有約束力。
5“適用利率”是指相當於(I)定期SOFR貸款3.00%、(Ii)ABR貸款2.00%和(Iii)信用證費用3.00%的年利率。“適用時間”對於以任何替代貨幣支付的任何款項，應指由行政代理或有關L/信用證出票人(視具體情況而定)所確定的替代貨幣結算地當地時間，以便在有關日期按照付款地的正常銀行程序及時結算。“適當貸款人”應在任何時候指(A)就循環信貸貸款而言，循環信貸貸款人，(B)[;（gg） ]保留區[（hh）對於任何外國子公司，適用法律強制規定的其他留置權和特權; ]保留區[（jj）（i）根據《統一商法典》第4-210條對託收過程中的項目產生的代收銀行的留置權，以及（ii）由於法律規定的存款而產生的有利於銀行機構的留置權（包括抵銷權）或附屬於商品交易賬户或其他商品經紀賬户的款項，及（iii）因法律或習慣合約而產生的有利於銀行或其他金融機構或其他電子支付服務供應商的存款，包括在“彙集存款”或“掃描”賬户中的存款（包括抵銷權），並且在銀行業或金融業的一般慣例範圍內;（kk）因借款人或任何子公司在本協議允許或不禁止的正常業務過程中訂立的有條件銷售、所有權保留、寄售或類似的貨物銷售或購買安排而產生的留置權; ]保留區[（mm） ]保留區
（一）與銀行建立存款關係有關的、與發行債務無關的留置權，（ii）與借款人或任何子公司的彙集存款或轉賬賬户有關，以允許償還借款人和子公司在正常業務過程中產生的透支或類似義務，或（iii）與借款人或任何子公司在正常業務過程中與客户簽訂的採購訂單和其他協議有關;
保留區
（pp）保險單上的留置權及其收益，以擔保保險費的籌措; [57(Qq)對特定存貨或其他貨品及其收益的留置權，以保證該人在為該人的賬户而開立或開立的跟單信用證或銀行承兑匯票方面的義務，以便利在正常業務過程中或與以往慣例一致的情況下購買、裝運或儲存該等存貨或貨品；(Rr)對借款人或任何附屬公司的任何股票或股票等價物或其他合資企業權益的任何限制，規定在任何所有者、參與、共享設施、合資企業、股東、會員、有限責任公司或合夥協議下該人與該人的該等股票或股票等價物或權益的一個或多個其他持有人之間的違約、終止或違約，如果因此而對該等股票或股票等價物或權益產生擔保權益或其他留置權以及其他類似的留置權；和(Ss)以借款人或任何子公司為受益人的債務或其他義務的留置權，以及(Ii)以非信用方為受益人的任何其他子公司的留置權。“許可計劃”指控股公司或其任何關聯公司的任何員工福利計劃，以及以任何此類計劃的受託人、代理人或其他受託人或管理人的身份行事的任何人。“允許差異”是指在任何適用的差異測試期間，(I)就總收入而言，不低於該差異測試期間預計總收入的85%；(Ii)就運營支出而言，不大於該差異測試期間項目運營支出的115%。“個人”是指任何個人、合夥企業、合資企業、商號、公司、有限責任公司、協會、信託或其他企業或任何政府機構。58“請願日期”應具有本協定摘要中規定的含義。“計劃”是指破產法第11章案件中的債務人的重組計劃(可以不時修改、補充或以其他方式修改)，該計劃在完成後規定全額償付債務。為免生疑問，本計劃不應損害本信貸協議中在償還貸款和本協議項下應支付的所有其他款項後仍明確存續的任何條款。“平臺”應具有第13.17(C)節規定的含義。“申請前的ABL信貸協議”是指借款人、控股公司、Avaya Canada Corp.、Avaya UK、Avaya International Sales Limited、Avaya Deutschland GmbH、Avaya GmbH&Co.kg(貸款方)、作為L/C發行人和擺動額度貸款方的貸款機構以及花旗銀行之間於2017年12月15日簽訂的特定ABL信貸協議。“先行ABL貸款”是指根據先行ABL信貸協議提供的信貸便利。“重複ABL償付”指(A)(I)根據重複ABL貸款安排全額償還所有債務，包括截至還款之日(按非違約合同利率)的利息和費用，以及(Ii)所有現有信用證、現有現金管理債務和現有有擔保對衝債務的現金抵押，在每種情況下，均使用初始提取的收益(定義見DIP定期貸款信貸協議)，並根據臨時定期貸款DIP令的條款，以及(B)終止其下的所有承諾，並解除與此相關的所有擔保和留置權。“請願前ABL還款函”指借款人與花旗銀行之間日期為2023年2月15日的還款函。，作為代理人和L/信用證的發行人，證明之前的美國銀行支付。“請願前債務”是指每一債務人在成為債務人之日未償和未付的債務。“請願前可交換票據”是指借款人、擔保方和全國協會威爾明頓信託公司根據該契約發行的8.00%可交換優先擔保票據，日期為2022年7月12日。作為受託人和票據抵押品代理人。“先行留置權債務”係指與(I)先行ABL貸款機制、(Ii)先行定期貸款信貸機制、(Iii)先行留置權票據和(Iv)先行可交換票據有關的所有債務。59“請願前第一留置權票據”是指借款人、擔保方和全國協會威爾明頓信託公司根據該契約發行的6.125的優先擔保第一留置權票據，日期為2020年9月25日。作為受託人和票據抵押品代理人。“預付款”是指因任何(I)預付款債務、(Ii)“關鍵或外國供應商付款”或(Iii)貿易應付款(包括但不限於回收索賠)或任何貸方的其他請願前索賠而支付的本金、利息或其他款項(以充分保護或其他方式支付)。“前期定期貸款信用協議”是指日期為2017年12月15日的某些定期貸款信用協議，該協議在本協議日期之前經借款人、控股公司、某些擔保方、貸款方和作為行政代理和抵押品代理的高盛銀行之間不時修改、重述、修訂和重述、補充或以其他方式修改。“請示前定期貸款貸款”是指根據請願前定期貸款信貸協議提供的信貸安排。“初始留置權”應具有第2.19(A)節中所給出的含義。“按比例分攤”指的是，就每個貸款人在任何時候的循環信貸承諾而言，一個分數(以百分比表示，執行到小數點後第九位)，其分子是該貸款人當時的循環信貸承諾額，其分母是當時的循環信貸承諾總額；但如果任何循環信貸承諾已經終止，則每個貸款人的按比例分攤份額應根據緊接終止之前和根據本條款作出的任何後續轉讓生效後該貸款人的按比例分攤份額來確定。“被禁止的交易”應具有ERISA第406節或守則第4975(C)節中賦予該術語的含義。“保護性預付款”應具有第2.1(C)節規定的含義。“PTE”是指由美國勞工部頒發的禁止交易類別豁免，因為任何此類豁免都可能不時修改。“QFC”應具有第13.23(B)節規定的含義。“QFC信用支持”應具有第13.23節中給出的含義。60“不動產”是指任何貸款方擁有、租賃或以其他方式持有的土地、建築物和改善設施的任何權益，但不包括所有經營固定裝置和設備。“應收款負債”是指，在任何時候，就任何應收款、證券化或類似融資(不包括在正常業務過程中產生的任何應收賬款保理融資)而言，“負債”、零碎的未分割權益(其聲明金額可被描述為“淨投資”或類似術語，反映投資於該未分割權益的金額)或根據該等應收款、證券化或類似融資產生或發行的其他證券的本金總額或聲明金額，在當時的每一種情況下均未償還。“應收款準備金”是指在不重複任何其他準備金或通過資格標準以其他方式處理或排除的項目的情況下，行政代理根據第2.17節的允許自由裁量權，在確定合格賬户在正常業務過程中的可收款性時認為適當的準備金，包括但不限於稀釋準備金、對總分類賬與應收款賬齡之間的差異的調節以及收到的未用現金。“登記冊”應具有第13.6(B)(Iii)節規定的含義。“U規則”指不時生效的董事會U規則，以及規定保證金要求的全部或部分規定的任何繼承者。“規則X”指不時生效的董事會規則X，以及規定保證金要求的全部或部分規定的任何繼承者。就任何特定人士而言，“關聯方”是指此人的關聯公司(或就第13.5節最後但書的(A)和(B)款及第13.5節倒數第二段而言，指此人的受控關聯公司)、此人的董事、高級職員、僱員、代理人、受託人、顧問、供應商和服務提供者，以及直接或間接擁有權力直接或間接指導此人的管理層或政策的任何人，無論是通過行使投票權的能力、合同或其他方式。就以美元計價或以美元計算的債務、利息、手續費、佣金或其他數額的基準替代而言，“相關政府機構”係指董事會或紐約聯邦儲備銀行、董事會或紐約聯邦儲備銀行正式認可或召集的委員會，或其任何繼承者。“重整計劃”是指在破產法第十一章中的任何一個或者全部案件中進行重整或者清算的計劃。]61“可報告事件”是指ERISA第4043條及其規定中所描述的事件，但免除了30天通知期的任何事件除外。“所需貸款人”是指，在任何日期，持有(A)循環信貸敞口(每個貸款人對L/信用證債務、迴旋額度貸款和保護性墊款的參與被視為由該貸款人“持有”)和(B)未使用的循環信貸承諾總額的50%以上的貸款人；但為了確定所需的貸款人，任何違約貸款人的循環信貸敞口和循環信貸承諾均應被排除在外。就借款基礎而言，“準備金”是指2023年現場考試/評估準備金、可用準備金、庫存準備金、應收賬款準備金、銀行產品準備金、套期保值準備金、優先應付款準備金、分拆準備金以及行政代理認為有必要根據第2.17節設立的合格賬户或合格庫存保留的任何和所有其他準備金，包括保修準備金。“決議機構”指歐洲經濟區決議機構，或就任何英國金融機構而言，指聯合王國決議機構。就借款人或任何附屬公司而言，“限制性支付”指向其股東派發任何股息或返還任何資本，或因該等股票及股票等價物而向其股東作出任何其他分派、支付或交付財產或現金，或直接或間接贖回、退回、購買或其他收購其任何類別股票或股票等價物以供對價，或為上述任何目的預留任何資金，但僅以其股票或股票等價物(不合格股票除外)支付的股息除外。“重組支持協議”指於2023年2月14日在控股公司、借款人、借款人的若干附屬公司、同意的利益相關者(定義見本協議)之間不時生效的若干重組支持協議。就任何投資而言，“回報”是指與該投資有關的任何股息、分配、利息、費用、溢價、資本回報、本金償還、收入、利潤(來自處置或其他)和其他收到或變現的金額。“循環信用借款”是指由適當的貸款人根據第2.1(A)節的規定向同一借款人提供的相同幣種和相同類型的循環信用貸款，如果是定期SOFR貸款，則具有相同的利息期限。“循環信貸承諾”對每個貸款人來説，是指其有義務(A)根據第2.1(A)節向借款人提供循環信貸貸款，(B)購買L信用證項下的債務，(C)購買62筆循環額度貸款和(D)購買保護性墊款，在任何時候未償還的本金總額不得超過所述金額，並在附表1.1(A)“循環信貸承諾”的標題下，或在該貸款人成為本協議一方的轉讓和假設(視情況而定)中與該貸款人的名稱相對之處，該金額可根據本協議不時調整。截止日期，所有貸款人的循環信貸承諾總額為128,125,000美元，因為該金額可能會根據本協議的條款(包括第4.2節)不時調整。對於每個循環信用貸款人而言，“循環信用風險”是指該貸款人的循環信用貸款餘額與其按比例或本協議規定的其他適用份額之和，包括當時的L/信用證債務、週轉額度貸款和保護性墊款。“循環信貸貸款人”是指在任何時候有循環信貸承諾的任何貸款人，或者如果循環信貸承諾已經終止，則指任何循環信貸風險敞口。“循環信用貸款”應具有第2.1(A)節規定的含義。“RSA計劃”是指根據破產法第11章，Avaya Inc.及其債務人附屬公司的某些聯合預打包重組計劃[ECF第50號]可不時以不會對貸款人造成重大不利的方式予以修訂。“S”係指標準普爾金融服務有限責任公司或其業務合併或合併後的任何繼承人。“當日資金”指的是，就美元付款和付款而言，可立即使用的資金。“被制裁人”是指任何時候被制裁禁止與之打交道的人。“制裁”應具有第8.19節規定的含義。“制裁法”應具有第8.19節規定的含義。“美國證券交易委員會”係指美國證券交易委員會或其任何後續機構。“有擔保現金管理協議”指借款人或任何附屬公司與任何現金管理銀行(任何指定的現金管理銀行除外)之間簽訂的任何現金管理協議，並由借款人以書面形式指定為“有擔保現金管理義務”，因此將成為本協議和擔保協議項下的義務。63“有擔保套期保值協議”是指借款人或任何附屬公司與任何對衝銀行(任何指定的對衝銀行除外)之間簽訂並由借款人以書面形式指定為“有擔保對衝義務”的任何套期保值協議，由此將成為本協議和擔保協議項下的義務。“有擔保的指定現金管理協議”是指借款人或任何子公司與指定的現金管理銀行之間簽訂並由借款人以書面形式指定為“有擔保的指定現金管理義務”的任何現金管理協議，由此將成為本協議和擔保協議項下的義務。“有擔保的特定套期保值協議”是指借款人或任何子公司與任何特定的對衝銀行之間簽訂的任何套期保值協議，該協議由借款人以書面形式指定為“有擔保的特定對衝義務”，因此將成為本協議和擔保協議項下的義務。“證券法”係指經修訂的1933年證券法及其頒佈的規則和條例。“擔保協議”是指借款人、其他設保人一方和擔保代理人為擔保當事人的利益而簽訂的擔保協議，其日期為截止日期(如該協議可能不時被修正、重述、修正和重述、補充或以其他方式修改或替換)。“擔保文件”統稱為：(A)擔保協議，(B)訂單，(C)抵押(在行政代理要求的範圍內)，(D)每項知識產權擔保協議，(E)ABL債權人間協議和(F)根據第9.11或9.12節或根據任何其他此類擔保文件簽署和交付的每份其他擔保協議或其他文書或文件。擔保文件(命令除外)應補充但不限於根據命令授予抵押品的留置權和擔保權益。“縮水”是指被借款人確認為丟失、放錯地方或被盜的存貨。“收縮準備金”是指行政代理合理估計為等於所需金額的金額，以便在適用貸方的當前總分類賬中反映的收縮將合理地相當於作為適用貸方最近實物庫存的一部分計算的收縮(應理解並同意，行政代理建立的收縮準備金不得複製在適用貸方的當前總賬中反映的任何收縮，或由適用貸方為計算借款基數而估計的任何收縮)。“塞拉”應指塞拉通信國際有限責任公司。“SOFR”指與SOFR管理人管理的擔保隔夜融資利率相等的利率。“SOFR管理人”指紐約聯邦儲備銀行(或有擔保隔夜融資利率的繼任管理人)。“指定現金管理銀行”是指，(I)僅從截止日期起至截止日期後90天(或行政代理酌情商定的較後日期)，本協議附表1.1(C)所列現金管理協議的提供者，只要每個該指定現金管理銀行已指定行政代理為其代理人，並書面同意受(1)第11.23款的約束，如同它是本協議的一方，以及(2)第2款。22.“指定對衝銀行”應指：(I)僅從截止日期起至截止日期後90天為止(或行政代理酌情商定的較後日期)；本協議附表1.1(C)所列套期保值協議的提供人，只要每家該等指定對衝銀行均已委任行政代理為其代理人，並以書面同意受(1)第11.23節及(2)第2.22節及本協議第12節條文的約束，猶如其為貸款人，及(Ii)任何對衝銀行就已根據第2.22節被指定為“最後退出”對衝協議及指定有擔保對衝協議的任何其他對衝協議。“指定的超額可獲得性”是指(I)超額可獲得性和(Ii)當時借款基數超過循環信貸承諾總額的金額之和，按本條款(Ii)不超過循環信貸承諾總額的2.50%為限。一種貨幣的“即期匯率”是指行政代理機構或L/信用證發行人(視情況而定)所確定的匯率，即以即期匯率的身份行事的人在上午11點左右通過其主要外匯交易機構以另一種貨幣購買該貨幣時所報的匯率。在計算外匯之日的前兩個工作日；但行政代理或任何L/信用證發行人可以從其他金融機構獲得該即期匯率[65由行政代理人或L匯票出票人(視具體情況而定)指定，如果以上述身份行事的人在確定之日尚無任何此類貨幣的現貨買入匯率；且條件是L匯票出票人可使用在計算外匯之日所報的即期匯率。“SPV”應具有第13.6(F)節規定的含義。“約定到期日”，就任何一系列債務的本金分期付款而言，是指管理該債務的原始文件中計劃支付該本金的日期，不包括在原定償付日期之前償還、贖回或回購該本金的任何或有債務。“股份”指公司、合夥、有限責任公司或同等實體的一股或多股股本(不論面值為普通股、優先股、普通股或優先股，視屬何情況而定)、實益、合夥或會員權益、參與或其他等價物(不論如何指定)，不論是否有投票權，但任何證明負債可轉換或可交換為股票的票據，除非及直至該票據如此轉換或交換，否則不得被視為股票；此外，僅就任何氟氯化碳或氟氯化碳控股公司而言，股票還應包括為美國聯邦所得税目的而視為股票的任何票據或證券。美國聯邦所得税的目的。“認購合同”是指借款人及其子公司簽訂的每份客户認購合同。“認購合同收入”是指就每份認購合同而言，相當於(1)每月訂貨價值乘以(2)12個月的金額。“任何人的附屬公司”指幷包括：(A)任何人持有超過50%股份的任何一個或多個類別的股份，而根據其條款有權選出該法團過半數董事的任何一個或多個類別的股份(不論該法團的任何一個或多個類別的股份在當時是否有或可能因任何或有任何意外情況的發生而具有投票權)在當時由該人直接或間接透過附屬公司擁有；及(B)任何有限責任公司、無限公司、合夥企業、協會、該人士當時直接或間接透過附屬公司擁有超過50%有表決權權益的合營企業或其他66個實體，或為控股普通合夥人。除非另有明文規定，本合同中所有提及的“子公司”均指借款人的子公司。“附屬擔保人”是指借款人的附屬擔保人。“超級多數貸款人”應指在任何日期持有(A)循環信貸敞口(每個貸款人對L/C債務、迴旋額度貸款和保護性墊款的參與被視為由該貸款人“持有”)和(B)未使用的循環信貸承諾總額的66.7%以上的貸款人；但為了確定超級多數貸款人，任何違約貸款人的循環信貸敞口和循環信貸承諾均應被排除在外。“支持的QFC”應具有第13節中提供的含義。23.“調查”係指對構成重大不動產(及其所有改進)的任何自有不動產進行的調查，包括基於航空攝影的調查，該調查是(A)(I)由註冊測量師或工程師準備的，(Ii)由測量師(根據所涉房地產的大小、類型和位置以合理的方式)向行政代理人和抵押品代理人證明的，以及(Iii)足夠的，單獨或與在適用司法管轄區慣用的調查(或“不改變”)有關的形式和實質的宣誓書。適用的所有權公司(在適用法律允許的範圍內)刪除或修訂與構成重大不動產的所有權保險保單(或承諾)有關的所有標準測量例外，並在適用司法管轄區可用的範圍內簽發抵押品代理人可能合理要求的背書或其他測量保險，或(B)抵押品代理人以其他方式合理接受，並考慮到所承保的不動產的大小、類型和位置。“互換義務”對於任何擔保人而言，是指根據構成商品交易法第1a(47)節所指的“互換”的任何協議、合同或交易支付或履行的任何義務。“週轉額度借款”是指根據第3.2節的規定，以相同貨幣向同一借款人借入週轉額度貸款。“擺動額度貸款人”是指花旗銀行，其作為擺動額度貸款的提供者，或本合同項下借款人的任何後續的擺動額度貸款人。“週轉額度貸款”應具有第3.2(A)節規定的含義。“擺動額度借款通知”係指根據第3.2(B)節的規定發出的擺動額度借款通知，如以書面形式發出，實質上應採用附件A的形式。“轉動線昇華”指的是等於(A)15,000,000美元和(B)循環信貸承諾總額中較小者的數額。擺動額度昇華是循環信貸承諾的一部分，而不是補充。“税”是指任何政府當局目前或將來徵收的任何或所有税收、關税、徵税、徵收、評税、扣除、扣繳或其他類似費用，不論是以單獨、合併、統一、合併或其他基礎計算的，以及與上述有關的任何利息、罰款、罰款或附加税。“條款優先抵押品”應具有ABL債權人間協議下和定義的含義。“SOFR期限”是指：(A)對於定期SOFR貸款的任何計算，與適用利息期相當的期限的SOFR參考利率在該利息期的第一天之前兩(2)個工作日(該日為“定期SOFR確定日”)，由SOFR管理人公佈；然而，如果截至下午5：00。(紐約市時間)在任何定期SOFR確定日，適用期限SOFR參考利率尚未由SOFR管理人發佈，並且關於SOFR參考利率的基準替換日期尚未出現，則SOFR將是SOFR管理人在該期間SOFR管理人發佈該期限SOFR參考利率的前一個營業日發佈的該期限SOFR參考利率，只要該首個前一個營業日不超過該週期性SOFR確定日之前三(3)個工作日，和(B)對於任何一天的ABR貸款的任何計算，期限為一個月的期限SOFR參考利率在該天之前兩(2)個工作日的日期(該日，“ABR Term 68 SOFR確定日”)，因為該利率由SOFR管理人術語公佈；然而，如果截至下午5：00，(紐約市時間)在任何ABR術語SOFR確定日，SOFR管理人尚未公佈適用期限的SOFR參考匯率，且關於SOFR參考利率的基準更換日期尚未出現，則SOFR將是SOFR管理員在該期限SOFR參考利率公佈的前一個營業日發佈的該期限的SOFR參考利率，只要該首個營業日不超過該ABR SOFR確定日之前的三(3)個工作日；此外，如果按照上述規定(包括根據上文(A)或(B)款的但書)確定的SOFR條款應小於下限，則SOFR條款應被視為下限。年利率為00%。“SOFR管理人”指CME Group Benchmark Administration Limited(CBA)(或由管理代理以其合理的酌情決定權選擇的SOFR參考率的繼任管理人)。“定期SOFR貸款”是指每筆以美元計價的貸款，按調整後的SOFR期限計息。“期限SOFR參考利率”是指基於SOFR的前瞻性期限利率。“交易費用”是指控股公司、借款人或其任何附屬公司因交易、本協議和其他信貸文件以及本協議擬進行的交易而產生或支付的任何費用、成本、負債或支出，包括與貸款的承諾、談判、辛迪加、文件編制和關閉(以及與抵押品相關的關閉後行動)有關的任何費用、成本、負債或支出。“交易”統稱指(I)與DIP定期貸款信貸協議有關的信貸文件及最終文件的籤立及融資，(Ii)申請前的ABL償付，(Iii)重組支持協議預期進行的其他交易，及(Iv)支付與上述各項有關的費用、成本、負債及開支，以及完成與前述有關的任何其他交易。“受讓人”應具有第13.6(E)節規定的含義。對於任何以美元計價的循環信貸貸款，“類型”應指其性質為ABR貸款或SOFR定期貸款。]69“UCC”係指紐約州或任何其他州的統一商法典，其法律要求適用於完善任何抵押品上的擔保權益。“英國金融機構”是指任何BBRD業務(該術語由英國審慎監管局頒佈的PRA規則手冊(經不時修訂)界定)或屬於由英國金融市場行為監管局頒佈的FCA手冊(經不時修訂)IFPRU 11.6範圍內的任何人，包括某些信貸機構和投資公司，以及這些信貸機構或投資公司的某些附屬公司。“聯合王國決議機構”指英格蘭銀行及任何其他負責英國金融機構決議的公共行政當局。“未調整基準替換”是指適用的基準替換，不包括相關的基準替換調整。“未設押財產”應具有第2.19(A)節規定的含義。任何養卹金計劃的“無資金流動負債”應指養老金計劃截至最近一個計劃年度結束時的累計福利債務(定義見財務會計準則第87號(“財務會計準則87”))，按照截止日期有效的財務會計準則第87號確定，超過可分配給該計劃的資產的公平市場價值的金額。“未重新分配部分”應具有第2.16(A)(Ii)節規定的含義。“未報銷金額”應具有第3.1(C)(Iii)節規定的含義。“不受限制現金”指於該日在借款人及附屬公司的綜合資產負債表上所列現金及現金等價物賬內的所有現金及現金等價物，但不包括任何現金及現金等價物，而該等現金及現金等價物的優先留置權(根據準許產權負擔定義第(X)或(Bb)款所準許的任何留置權除外)是為其他債務或債務的利益而授予的(但可包括擔保債務的現金及現金等價物，以及根據訂單及/或ABL債權人間協議所訂的DIP定期貸款信貸協議下的債務)。“未使用金額”是指，在任何一天，循環信貸承諾總額減去循環信貸貸款總額減去L/信用證債務總額；但未使用金額不得小於零。70“美國政府證券營業日”指任何營業日，但證券業和金融市場協會、紐約證券交易所或紐約聯邦儲備銀行因美國聯邦法律或紐約州法律(視具體情況而定)為法定假日而不營業的營業日除外。“美國貸方”應具有第5.4(H)節規定的含義。“美國受託人”是指美國受託人。“差異報告”應具有第9.1(C)節規定的含義。“差異測試期”應指(I)最初，請願日後的前兩週，(Ii)第二，請願日後的第一個四周，以及(Iii)之後，每個滾動四周的期限，在前一個差異測試期後兩週結束。美國聯邦所得税的目的。“每週監控期”是指(A)任何違約事件發生和持續期間，或(B)從規定的超額可獲得性小於(X)24,000,000美元和(Y)20兩者中較大者之日開始的一段時間。連續三(3)個工作日的額度上限為0%，並在規定的超額可用額度在連續二十個日曆日內至少大於額度上限的(X)$24,000,000和(Y)20.0%的日期結束。就一名人士對附屬公司的擁有權而言，“全資擁有”指該附屬公司的所有股份(根據適用法律規定的董事合資格股份或代名人或其他類似股份除外)由該人士或該人士的另一間全資附屬公司擁有。“退出責任”是指因完全或部分退出多僱主計劃而對多僱主計劃承擔的責任，這些術語在ERISA第四章中有定義。 1.2其他解釋性條款關於本協議和其他信用證文件，除非本協議或其他信用證文件中另有規定：（a）定義術語的含義同樣適用於定義術語的單數和複數形式。 (b)信用證文件中使用的“本”、“本”、“本”及“本協議項下”及類似含義的詞語，應指該信用證文件的整體，而非其任何特定條款。 (c)條、節、附件和附表的引用均指出現此類引用的信用證單據。 (d)術語“包括”是作為示例而非限制。 (e)“文件”一詞包括任何及所有文書、文件、協議、證書、通知、報告、財務報表和其他書面材料，無論其證據如何，無論是實物形式還是電子形式。 (f)“資產”和“財產”兩詞應解釋為具有相同的含義和效力，是指任何和所有有形和無形資產和財產，包括現金、證券、賬户和合同權利。 (g)所有提及的任何信貸方或其子公司的“知識”或“意識”指信貸方或該子公司的授權官員的實際知識。 (h)在計算由指明日期至較後指明日期的期間時，“由”一詞指“由及包括”;“至”及“直至”各指“至但不包括”;而“至”一詞指“至及包括”。 (i)本協議中提及的任何人士應被解釋為包括該人士的繼任者和允許的受讓人，以及在任何政府機構的情況下，應包括繼承其任何或所有職能的任何其他政府機構。 72（k）為了確定是否符合第10.1、10.2、10.3、10.4、10.5、10.6、10.7、10.11和1.1，(I)如果任何留置權、投資、負債、合併或類似的基本變更、處置、限制支付、關聯交易或合同義務滿足根據該條款任何條款允許的一種以上交易類別的標準，則該交易(或其部分)應在任何時間和不時根據借款人在該時間自行決定的一項或多項此類條款予以允許；只要信用證單據項下的所有未償債務在任何時候都將被視為僅根據第10.1款(A)項中的例外情況而產生，以及(Ii)對於任何留置權、投資、負債、合併或類似的基本變更、處置、限制性付款、關聯交易、合同義務或其他適用的美元以外的交易，任何違約或違約事件均不應被視為僅由於上述留置權、投資、負債、合併或類似的根本變更、處置、限制性付款或其他適用交易之後貨幣兑換率的變化而發生。關聯交易、合同義務或其他適用的交易(只要該等留置權、投資、負債、合併、合併或類似的根本性改變、處置、限制付款、關聯交易、合同義務或其他適用的交易)是在根據本協議允許發生或進行的時候進行的)。1.1.4根據本協議，借款人必須維持的任何財務比率(或為根據本協議允許的特定行動而必須滿足的任何財務比率)的計算方法是：將適當的部分除以另一個部分，將結果進位到比本協議所表示的該比率的位數多一位，並將結果向上或向下舍入到最接近的數字(如果沒有最接近的數字，則進行向上舍入)。1.5對協議、法律等的提述除非本合同另有明確規定，否則(A)對組織文件、協議(包括信用證文件)和其他合同要求的提及應被視為包括對其的所有後續修正、重述、修正和重述、延期、補充和其他修改，但僅限於此等修正、重述、修正和重述、延期、補充和其他修改是任何信用證單據允許或不禁止的，以及(B)對任何適用法律的提及應包括合併、修正、取代、補充或解釋該適用法律的所有法律和法規規定。[73 1.6除另有説明外，本文件中提及的所有時間均為紐約市時間(適用的夏令時或標準時間)。1.7付款或履行的時間如聲稱任何債務或履行任何契諾、責任或義務的日期並非營業日，則該等付款(利息期間的定義所述除外)或履行的日期應延至緊接的下一個營業日，而有關時間的延長應反映在計算利息或費用(視何者適用而定)中。1.8],
21 (g) [已保留]1.9貨幣等價物一般(A)行政代理應確定每個重估日期的即期匯率，用於計算以替代貨幣計價的信用延期美元金額和未償還金額。該等即期匯率應自該重估日期起生效，並應為在下一重估日期之前在適用貨幣之間兑換任何金額時所採用的即期匯率。(B)在本協議中，凡與以替代貨幣計價的信用證的簽發、修改或延期有關的，所要求的最低或倍數金額均以美元表示，但信用證以替代貨幣計價，則該金額應為該替代貨幣金額的相關等值金額(四捨五入至該替代貨幣的最接近單位，單位的0.5向上舍入)，由行政代理人或適用的L/信用證發票人(視情況而定)確定。(C)在確定以美元計價的“固定數額”貨幣籃子下的任何債務、投資、留置權、處分、限制性付款或任何其他數額是否可以美元以外的貨幣發生時，應根據發生這種情況時所確定的貨幣匯率(如果是任何循環債務或承諾作出的任何數額，則為首次承擔時)確定該數額；但在該等債務、投資、留置權、處分、有限制付款或該等其他款項發生或作出後，任何違約或違約事件不得純粹因匯率的改變而被視為已發生。1.10貸款和借款的分類就本協議而言，循環信貸貸款可按類型分類和指代(例如，“定期SOFR貸款”)。借款也可以按類型分類和指代(例如，“SOFR借款”一詞)。1.11允許留置權74第10.2節規定的允許留置權的存在，並不打算從屬於或推遲，也不應解釋為從屬於或推遲根據任何信用證文件設立的任何留置權，或解釋為從屬於或推遲根據任何信用證文件設立的任何留置權；不言而喻，任何此類留置權和根據任何信用證文件設立的留置權的優先權應由適用法律的命令和實施決定。1.12[113貸方、本協議的終止、貸款的支付以及根據本協議和任何其他信貸文件應支付的所有其他款項。5.5利息及費用的計算當ABR是根據行政代理不時公佈為其“最優惠利率”的日期的有效利率釐定時，ABR貸款的所有利息計算應以365天或366天(視屬何情況而定)的一年及實際經過的天數為基礎。所有其他費用和利息的計算應以一年360天和實際經過的天數為基礎(如果適用，支付的費用或利息將比按一年365天計算的費用或利息多)。每筆貸款的利息應在貸款發放之日產生，而貸款或其任何部分不得在貸款支付之日產生利息；但在貸款當日償還的任何貸款，除第5.3(A)節另有規定外，應計入一天的利息。行政代理對本合同項下利率或費用的每一次確定都應是決定性的，並對所有目的都具有約束力，沒有明顯的錯誤。5.6利率限制(A)任何付款不得超過合法利率。儘管本協議有任何其他條款，借款人沒有義務支付本協議項下或與本協議相關的或其他方面超過任何適用法律允許或符合的金額或利率的債務的任何利息或其他金額。(B)以最高合法利率付款。如果借款人沒有義務支付第5.6(A)條規定的款項，則借款人應在適用法律允許或符合的最大範圍內支付此類款項。如果本協議或任何其他信貸文件的任何條款規定借款人有義務向任何貸款人支付利息或其他應付款項，其金額或利率將被任何適用法律禁止，則儘管有此類規定，該金額或利率應被視為已被追溯調整至適用法律不會禁止的最高金額或利率(視情況而定)，這種調整應在必要的範圍內通過降低第2.8款規定借款人向受影響貸款人支付的金額或利率來實現。(D)傳播。在確定本協議項下的利息是否超過任何適用法律所允許或符合的金額或利率時，利息總額應在本協議的整個期限內分攤，直至付清為止。(E)儘管有上述規定，但在實施上述所有調整後，如果任何貸款人從借款人那裏收到的金額超過任何適用法律允許的最高金額，則借款人有權通過書面通知行政代理從該貸款人那裏獲得相當於該超出的金額的補償，在償還之前，該金額應被視為該貸款人應支付給借款人的金額。第六節成交日前的條件每一位貸款人和每一位L信用證發行人在成交之日對本合同項下的信用展期的義務取決於下列條件的滿足。6.1信貸文件(A)在每一種情況下，行政代理應已收到(I)由控股公司和借款人的授權人員簽署和交付的本協議，(Ii)在截止日期由每個擔保人的授權人員簽署和交付的擔保，(Iii)在截止日期由設保人一方的授權人員簽署和交付的擔保協議，以及(Iv)由設保人一方的授權人員在截止日期時簽署並交付的擔保協議，以及(Iv)本協議。自截止日期起，由各貸款方的DIP定期貸款代理和一名授權官員執行和交付。(B)如果在截止日期進行信用證延期(視為已簽發現有信用證除外)，行政代理以及相關的L/信用證發行人或循環貸款人(如適用)應已收到符合本協議要求的借款通知或信用證申請。6.2抵押品(A)於結算日存在的所有非債務人附屬票據/應收賬款須由境外公司間票據證明，並須已根據擔保協議及/或命令質押。(B)應將涵蓋其中所述抵押品的適當的《統一商法典》融資報表交付抵押品代理人。(D)對於構成“建築物”或“流動房屋”(根據防洪法的設想)所在的抵押品的所有自有不動產，已完成的“貸款使用年限”聯邦緊急事務管理署標準洪水災害確定(如果該不動產位於特別洪水危險地區，連同(A)由借款人和與之相關的每一方正式籤立的關於特殊洪水危險地區狀況和洪水災害援助的通知，以及(B)形式和實質合理地令行政代理人滿意的洪水保險證據)。行政代理可根據其合理的酌情決定權，選擇在成交日期後15個工作日內(或所需貸款人可自行決定批准的較長期限內)滿足第6.2節規定的先決條件。115 6.3法律意見行政代理和貸款人應已收到貸方紐約特別法律顧問Kirkland&Ellis LLP簽署的慣常法律意見，其形式和實質應令行政代理和所需貸款人合理滿意。控股公司、借款人、其他信貸方和行政代理特此指示該律師提供此類法律意見。6.4成交證書行政代理應已收到貸方關於第6.7、6.8和6.16節所述條件的證書，成交日期為成交日期。6.5祕書證書；各信用方程序的授權行政代理和貸款人應在截止日期或之前收到各信用方的證書，該證書註明截止日期，並由該信用方的授權官員簽署，並附有適當的插頁和附件，包括：(A)各信用方(或其正式授權的委員會)的董事會、其他經理或普通合夥人的決議副本，授權(I)簽署、交付和履行其為一方的第6.1條所指的信用證文件(及其任何相關協議)，以及(Ii)在借款人的情況下，(B)截止日期各信用方的組織文件的真實和完整的副本，(C)借款人和擔保人的良好信譽證書(如果該概念存在於該組織的相關司法管轄區內)，以及(D)經該決議和/或書面同意授權代表該信用方簽署信用證文件的該信用方代表的姓名、頭銜、任職資格和簽名樣本。6.6費用根據承諾書(包括其中提及的費用函)在成交日支付的所有費用以及根據承諾書和本協議在成交日支付的合理且有文件記錄的自付費用，如果是費用，至少在成交日前一(1)個營業日開具發票，應已支付，或應基本上與成交日同時支付。6.116 6.8重大不利影響自2022年9月30日以來，不應發生任何個別或合計構成或合理預期將構成重大不利影響的情況或狀況。6.9批准的預算；DIP預測行政代理和貸款人應已收到(A)初步批准的預算(日期不超過請願日期前五(5)天)和(B)DIP預測，在每種情況下，其形式和實質均為行政代理和所需的貸款人所接受。6.10]已保留
已保留
6.12在臨時命令及破產法院的任何其他命令生效後，所有必要的政府及第三方同意及批准須於結算日或之前取得(未施加任何不可被要求的貸款人合理接受的不利條件)，並應繼續有效；而在臨時命令及破產法院於結算日或之前訂立的任何其他命令生效後，任何法律或法規均不適用於限制、阻止或施加重大不利條件於結算日或之前的任何法律或法規。6.13《愛國者法案》；《實益所有權條例》(A)行政代理和每個提出要求的貸款人應已收到(至少在截止日期前一(1)個工作日)行政代理或貸款人在截止日期前以書面形式合理要求的關於借款人和每位擔保人的所有文件和其他信息，這是監管機構根據適用的《瞭解您的客户》和反洗錢規則和法規(包括但不限於《愛國者法案》)所要求的，但前提是此類請求已在截止日期前至少三(3)個工作日交付給借款人。(B)在借款人符合《實益所有權條例》規定的“法人客户”資格的情況下，行政代理應已(至少在截止日期前3個工作日)獲得與借款人有關的實益所有權證明。6.14《破產法》第11章案例(A)請願日期應當已經發生。[117(B)臨時命令的生效日期應已發生，臨時命令不得被撤銷、撤銷、修改、修改或擱置。(C)]; (w) [已保留]。(D)破產法第7章或第11章所指的受託人或具有超出破產法第1106(A)(3)及(4)條所列權力的審查員，不得在第11章的任何個案中獲委任。6.15
已保留[6.16無違約在截止日期時不存在違約或違約事件，或因在該日期進行信用延期(如有)或使用信用延期所得款項而產生的違約或違約事件。6.17任何訴訟不得在任何法院或任何仲裁員面前或在任何政府機構(破產法第11章的案件除外)中存在任何未被擱置的訴訟、訴訟、調查、訴訟或程序，這些訴訟、訴訟、調查、訴訟或程序不應合理地預期會導致實質性的不利影響。6.18重組支持協議重組支持協議應於截止日期全面生效，不得以對貸款人有重大不利的方式進行修訂或修改。6.19借款基礎證書；可用性(A)行政代理應已收到一份借款基礎證書，其中列出了截至2023年1月31日的借款基礎。(B)在實施初始信貸延期後，應滿足可用性要求。為確定在截止日期當日是否符合第6款規定的條件，或在截止日期後的任何信貸延期日期符合第7款規定的條件，已簽署或授權簽署本協議的每一貸款人應被視為已同意、批准或接受或滿意根據本第6款要求貸款人同意或批准、可接受或滿意的每一文件或其他事項，除非行政代理在該日期之前收到該貸款人的通知，説明其反對意見。所有授信延期的先決條件在截止日期後，每個貸款人和每個L/信用證發行人有義務在截止日期後進行授信延期(不包括任何期限的SOFR貸款的任何轉換或延續)，但必須在所有實質性方面滿足以下規定的條件。7.1截止日期截止日期應已發生。7.2命令臨時命令或最終命令(視情況而定)應具有完全效力和作用，不得被騰出或推翻，不得受到暫緩執行，且未經所需貸款人事先書面同意，不得修改或修改。7.3]已保留[7.4條款8或任何其他信用證文件中包含的借款人和其他信用方的陳述和擔保，在每次信貸延期之日應在所有重要方面真實和正確；但如果該陳述和保證明確提及較早的日期，則在該較早日期在所有重要方面均應真實和正確；此外，任何關於“重要性”、“重大不利影響”或類似措辭的陳述和保證應(在其中的任何限定生效後)在該各自的日期在所有方面真實和正確。7.5無違約或違約事件在建議的信貸延期或其收益的運用時不應存在違約或違約事件，也不會因此而導致違約或違約事件。7.6.借款申請；可獲得性(A)行政代理以及相關的L/信用證發行人或迴旋貸款人(如適用)應已收到符合本合同要求的借款通知或信用證申請。(B)在實施信貸延期後，應滿足可用性要求。7.7不違反法律在適用信貸延期之日或之前生效的命令和破產法院的任何其他119命令生效後，此類信貸延期不得違反適用於信貸當事人的適用法律的任何要求，且不得被臨時、初步或永久禁止。7.8費用和開支的支付行政代理和貸款人應在該日期或之前，按照臨時命令規定的程序和行政代理先前書面同意的金額或根據信用證文件(如有)收到的費用，以及貸方根據承諾函、本協議和臨時訂單應支付的所有費用(包括合理費用、支出和律師的其他費用)，且臨時命令關於費用的發票在該日期之前至少一個營業日已出示的費用應已支付。7.9重大不利影響自請願書日期起未發生重大不利影響。7.10破產法第11章案例(A)破產法第11章案例均不得被駁回或轉換為第7章案例。(B)在第11章的任何個案中，均不得委任受託人或審查員，其權力超越《破產法》第1106(A)(3)及(4)條的規定。7.11截至建議信貸延期之日，債務人須達到的所有里程碑均已達到或獲豁免。7.12]已保留
7.13無訴訟在任何法院或任何仲裁員或政府機構（第11章案件除外），均不存在未中止的訴訟、起訴、調查、訴訟或程序，這些訴訟、起訴、調查、訴訟或程序將合理預期會導致重大不利影響。 借款人提交的每份借款通知（但不包括任何轉換或延續通知）應被視為一份聲明和保證，即本第7條規定的條件已在適用的信貸延期之日得到滿足。 第8節陳述和保證為了促使貸方和信用證簽發人簽訂本協議，並按照規定進行循環信用貸款和簽發或參與信用證。 第120條在本協議中，控股公司和借款人各自代表其自身及其子公司向代理人、貸方和信用證簽發人做出以下陳述和保證，所有這些陳述和保證在本協議的簽署和交付以及循環信用貸款的發放和信用證的簽發後仍然有效：遵守法律各控股公司，借款人和借款人的每個子公司（a）是一個正式組織和有效存在的公司或其他信譽良好的實體（如適用）根據其組織管轄區的法律，並擁有公司或其他組織的權力和權力，擁有其財產和資產，進行其所從事的業務，除非合理預期不會導致重大不利影響，（b）具有適當資格並被授權開展業務，且信譽良好（如適用）在要求其具備此類資格的所有司法管轄區，除非不符合上述條件不會合理預期導致重大不利影響，且（c）符合所有適用法律，但不符合規定不會導致重大不利影響的情況除外。 8.2公司權力和授權各信用證方擁有公司或其他組織的權力和授權，根據訂單的輸入及其條款，執行，交付和履行其作為一方的信用證文件的條款和規定，並已採取所有必要的公司或其他組織行動授權執行，交付和履行其作為當事人的信用證文件。 根據訂單的輸入及其條款，每個信用證方已正式簽署並交付其作為一方的每份信用證文件，每份信用證文件構成該信用證方的合法、有效和有約束力的義務，可根據其條款強制執行，但受破產、資不抵債、欺詐性轉讓、一般涉及或影響債權人權利的重組法和其他類似法律以及衡平法的一般原則（無論是在衡平法程序中還是在法律程序中審議）（前提是，關於與外國子公司的債務、股票和股票等價物有關的擔保權益的設立和完善，只有在這種義務的建立和完善由UCC管轄的範圍內）。 8.3沒有違反既不執行，任何信用證方交付或履行其作為一方的信用證單據，或遵守其中的條款和規定，或完成本信用證所設想的融資交易，將（a）違反任何適用法律的任何適用規定（包括重大環境法律），但不包括任何合理預期不會導致重大不利影響的違規行為，（b）導致違反任何條款、契諾、條件或條文，或構成違約，或導致對控股公司、借款人或任何子公司的任何財產或資產產生或施加任何留置權（除本協議允許的留置權外）根據任何重大抵押、貸款協議、租賃協議、抵押、信託契約或其他重大債務協議或文書，控股公司、借款人或任何子公司
121方或其任何財產或資產受約束（任何此類條款、契約、條件或規定，“合同要求”），但不包括任何此類違約、違約或留置權，這些違約、違約或留置權合理預期不會導致重大不利影響，或（c）違反任何信貸方組織文件的任何規定。 8.4訴訟除附件8.4所述的第11章案件和事項外，不存在任何未決的或據借款人所知的、與控股公司、借款人或任何子公司有關的、有合理可能出現不利決定且合理預期此類決定將導致重大不利影響的訴訟、起訴或程序。 8.5保證金規定本協議項下的信用擴展及其收益的使用均不違反董事會T、U或X規定的規定。 8.6政府批准根據訂單的輸入和條款，信用證文件的簽署、交付和履行不需要任何政府機構的任何同意或批准、登記或備案或其他行動，除非（i）已經獲得或做出並具有完全效力，（ii）根據擔保文件創建的關於留置權的備案和記錄，以及（iii）此類許可、授權、同意、批准、登記、備案或其他行動，如果未能獲得或進行這些行動，將不會合理地預期會產生重大不利影響。 8.7根據1940年《投資公司法》（經修訂）的定義，信貸方均不是“投資公司”，並須根據該法註冊。 8.8真實和完整的披露（a）沒有書面的事實信息和書面數據（作為一個整體）由控股公司、借款人、借款人的任何子公司或其各自的任何授權代表在此之前或同時向行政代理機構提供，在截止日期當日或之前，（包括信用文件中包含的所有此類信息和數據），借款人及其子公司在與本協議或本協議擬進行的任何交易有關的交易中，包含任何重大事實的不真實陳述，或遺漏了任何必要的重大事實，以提供此類信息和數據（作為一個整體）根據提供該等信息或數據的情況，在當時不具有重大誤導性，雙方理解並同意，就本第8.8（a）條而言，該等事實信息和數據不應包括預測或估計（包括財務估計、預測及其他前瞻性資料）及一般經濟或一般行業性質的資料。 122（b）根據2023年2月14日的中期定期貸款DIP命令，並在該命令中定義的初始DIP預算是基於借款人認為在做出時合理的善意估計和假設，代理人，聯合牽頭人和貸款人承認，這些預測，前瞻性陳述，估計和形式財務信息不應被視為事實或業績保證，並受重大突發事件和假設的影響，其中許多是信貸方無法控制的，並且任何此類預測所涵蓋的期間內的實際結果，前瞻性陳述、估計和備考財務信息可能與預測結果存在重大差異。 (c)每份借款基礎證書中所載的信息在所有重大方面均真實正確，並已根據本協議在所有重大方面編制。 在提交時，在提交給行政代理的每份借款基礎證書中，借款人確定為合格賬户的賬户和借款人確定為合格庫存的庫存在所有重大方面分別符合合格賬户和合格庫存定義中規定的標準。 8.9
已保留
8.10税務事項，除非破產不會產生重大不利影響，或《破產法》允許或要求，(A)控股、借款人和每家子公司均已提交其要求提交的所有聯邦所得税申報表和所有其他國內和國外納税申報表(在實施所有適用延期後)，並已支付其應支付的所有到期的重要税款(無論是否顯示在該納税申報表上)，除(I)尚未拖欠或(Ii)在法律規定範圍內及根據公認會計原則已就是否已提供足夠儲備金而真誠提出異議外，(B)各控股公司、借款人及各附屬公司均已根據公認會計準則就尚未到期及應付的所有聯邦、州、省及外國税項提供充足儲備，及(C)各控股公司、借款人及各附屬公司均已履行其所有預扣税項責任。8.11遵守ERISA(A)未發生或合理預期不會發生ERISA事件；根據守則或ERISA對借款人或任何ERISA關聯公司的資產施加的留置權並不存在(或合理地很可能存在)，借款人或任何ERISA關聯公司也沒有接到書面通知，將因任何養老金計劃而對Holdings、借款人或任何ERISA關聯公司的資產施加此類留置權，除非違反第8.11(A)條中的任何陳述、擔保或協議不會單獨或整體導致合理地可能產生重大不利影響的負債金額。任何養老金計劃都沒有資金不足的流動負債，無論是單獨負債，還是與本第8節提到的任何其他負債一起承擔。 123（b）所有海外計劃均符合該等海外計劃的條款及適用法律，並已根據該等條款及適用法律設立、管理及運作，但未能如此遵守、設立、管理或運作海外計劃而合理預期不會產生重大不利影響的情況除外。 各海外計劃的所有到期供款或其他付款均已全額支付，且不存在任何資金不足，除非合理預期任何此類事件不會單獨或彙總產生重大不利影響。 8.12子公司附表8.12列出了截止日期存在的各控股子公司（以及控股公司在其中的直接和間接所有權權益）。 8.13知識產權各控股公司、借款人和子公司對所有專利、商標、服務標誌、商號、版權及其所有申請和許可，以及所有其他知識產權，均擁有良好且可銷售的所有權，或有效的許可或使用權，不附帶任何留置權（除本協議所允許的留置權外），是目前開展各自業務所必需的，除非未能擁有任何此類所有權，許可或權利不會合理預期產生重大不利影響。 8.14環境法律除非合理預期不會產生重大不利影響：（a）控股公司、借款人和子公司以及所有房地產均遵守所有環境法律;（b）控股公司、借款人和子公司已根據環境法律及時申請更新所有許可證，以建造和運營其目前建造的設施;（c）除附表8所載者外。除第8.14節另有規定外，控股公司、借款人和子公司不就環境法作出任何其他陳述或保證。124 8.15除附表8.15所述物業外，控股、借款人及附屬公司對彼等目前經營各自業務所需的所有物業擁有良好的所有權或有效的租賃或地役權權益或其他許可或使用權，且不受任何留置權(本協議所準許的任何留置權除外)的影響，除非未能擁有該等良好的所有權、租賃或地役權權益或其他許可或使用權並不會合理地預期會產生重大不利影響。附表8.15列出了任何貸款方在結算日構成重大不動產的每個不動產的街道地址(如果有)。8.16無違約在實施適用的信用延期後，未發生違約或違約事件。8.17在符合第6.2節規定的條件和《ABL債權人間協議》條款(如果當時有效)的情況下，對於每一貸方，擔保文件作為一個整體，有效地為擔保當事人的利益在擔保文件所述抵押品中設定合法、有效和可強制執行的第一優先權擔保權益(受本協議允許的留置權的約束)，在每個情況下，擔保文件的強制執行能力取決於適用的破產、無力償債、重組、暫緩執行或其他一般影響債權人權利的法律，但須遵守衡平法的一般原則，不論是在衡平法訴訟中考慮還是在法律上考慮。
125 8.18勞工事宜，除非合乎情理地預期不會產生重大不利影響：(A)沒有針對Holdings、借款人或任何附屬公司的罷工或其他勞資糾紛待決，或據借款人所知，有任何書面威脅；及(B)Holdings、借款人及各附屬公司的僱員的工作時數及支付款項並無違反公平勞工標準法或任何其他處理此等事宜的適用法律。8.19受制裁的人；反腐敗法；愛國者法任何控股公司、借款人或其任何子公司或其各自的任何董事或官員不受美國國務院或美國財政部(包括外國資產管制辦公室)或任何其他適用制裁機構(統稱為“制裁”，以及相關法律、規則、法規和命令，統稱為“制裁法”)實施或執行的任何經濟禁運或類似制裁的約束。控股、借款人及其附屬公司及其各自的高級職員和董事在所有重大方面均遵守(I)所有制裁法律、(Ii)美國1977年修訂的《反海外腐敗法》和任何其他適用的反賄賂或反腐敗法律、規則、法規和命令(統稱為《反腐敗法》)以及(Iii)《愛國者法》和任何其他適用的反恐怖主義和反洗錢法律、規則、法規和命令。信貸延期收益的任何部分將不會(I)直接或間接地在任何實質性方面違反《愛國者法》、《反腐敗法》、《制裁法》和/或任何其他反恐怖主義或反洗錢法，或(Ii)提供、給予、用於或以其他方式提供給(X)位於或居住於任何司法管轄區或根據該司法管轄區法律組織的任何個人或實體，而該司法管轄區是制裁法律規定的全面制裁的目標(目前為古巴、伊朗、朝鮮、敍利亞、克里米亞地區、非政府控制的烏克蘭扎波日日亞和赫森地區)，或(Y)制裁法律所針對的任何個人或實體(包括但不限於，列入美國財政部特別指定國民和受封鎖人士名單的個人或實體)。8.20收益的使用借款人將根據本協議第9.13節的規定使用信貸延期的收益。8.21命令臨時命令是有效的(最終命令在輸入時將是有效的)，可以為了擔保當事人的利益，在抵押品上建立合法、有效、具有約束力和可強制執行的完善的擔保權益，而不需要籤立抵押、擔保協議、質押協議、融資聲明或其他協議或文件。126 8.22義務的狀態；擔保權益的完備性和優先權取決於臨時命令(和最終命令，如適用)的輸入。義務應具有第2.19節中規定的地位和優先順序，為避免產生疑問，應在所有方面進行分割。第9款約定借款人在此約定並同意，在截止日期(緊接交易生效後)及之後，直至循環信貸承諾總額和所有信用證均已終止(已被L/C以現金作抵押、擔保或以其他方式以適用的L/C發行人合理滿意的條款和條件抵押的信用證除外)，貸款連同利息、費用和所有其他債務(有擔保對衝協議和有擔保特定對衝協議項下的對衝義務、有擔保現金管理協議和有擔保現金管理協議項下的現金管理義務或或有債務除外)，全額支付：9.1借款人將向行政代理提供的信息契約(行政代理應根據其慣例迅速向貸款人提供此類信息)：(A)月度運營報告。在申請後兩(2)個工作日內向破產法院提交適用月份的所有“月度運營報告”的複印件。(B)核準預算。在截止日期後每個四周期間的最後一個工作日，更新的批准預算實質上令要求的貸款人滿意；但該更新的批准預算未能令要求的貸款人滿意，不應被視為違反本第9.1(B)條，並且不應因要求的貸款人拒絕該更新的批准預算而導致違約或違約事件；此外，為避免疑問，就本協議而言，最近生效的批准預算應繼續構成批准預算；此外，所需貸款人的這種拒絕應導致違約事件，該事件應在未包括在最近生效的批准預算中的每週期間開始的兩個工作日之前發生。(C)差異報告。在每兩週期間(第一次交付時間為2023年3月1日，第二次交付時間為2023年3月15日，第二次交付時間為2023年3月15日，之後每個適用的時間段均為週三)之後的星期三，以附件M的形式提交一份報告(“差異報告”)。(D)[已保留]已保留[127(F)違約通知；訴訟；ERISA事件。借款人或任何附屬公司的授權人員獲知後，應立即通知(I)任何構成違約或違約事件的事件的發生，該通知應指明其性質、存續期及借款人擬對其採取的行動；(Ii)針對借款人或任何附屬公司的任何訴訟、監管或政府程序，而該訴訟、監管或政府程序有合理可能作出不利裁定，而該項裁定可合理地預期會被裁定為不利，如經裁定，則會導致重大不利影響；(Iii)任何ERISA事件或任何合理預期將會發生的ERISA事件的發生，這將合理地預計會導致重大不利影響，以及(Iv)任何其他合理預期將產生重大不利影響的事件。(G)其他資料。(H)要求提供的信息。在行政代理的合理要求下，行政代理以其自身或任何貸款人的名義(通過行政代理採取行動)可不時以書面形式合理要求的其他信息(財務或其他)應以合理的速度予以提供；但即使本第9.1(H)條有任何相反規定，在下列情況下，Holdings、借款人或其任何子公司均不需要根據本第9.1(H)條提供任何其他信息：(I)提供此類信息將違反任何律師客户特權(由貸方的(內部或外部)律師合理確定)、法律、規則或法規，或對貸方或其各自關聯公司具有約束力的任何合同保密義務(只要不是在本協議中訂立的)或(Ii)此類信息構成律師工作產品(由貸方的律師(內部或外部)合理確定)。(I)綜合EBITDA。在每個財政季度結束後45天內，從截至2023年3月31日的財政季度開始，借款人的授權官員的證書列出最近結束的四個財政季度的綜合EBITDA的計算。(J)(I)在向破產法院申請或向債權人委員會或美國政府交付之前，在合理可行的範圍內儘快完成。關於借款人或其任何子公司的財務狀況或貸款方的其他債務或根據破產法第363、365、1113或1114條或聯邦破產程序規則9019提出的任何救濟請求的所有其他通知、文件、動議、訴狀或其他信息。(K)借用基礎證書。(L)在交付第9.1(K)9.1(K)節規定的每月借款基礎證書時，借款人應各自提供按類別和地點分列的庫存報告，並與相應的每月借款基礎證書進行對賬，合理詳細地計算符合條件的庫存，並對貸方各自的庫存進行對賬，核對其庫存分類賬中所列金額與根據本條款交付的任何庫存報告(L)；(M)在交付第9.1(K)節規定的每個月借款基礎憑證時，借款人應提供流動應收賬款賬齡，同時提供賬齡與同時交付的資產負債表上的應收賬款金額之間的對賬；和]129(N)(I)借款人應在提取現金或現金等價物之前通知行政代理，該現金或現金等價物將從受第9.18節凍結帳户協議約束的凍結賬户中提取，構成合格的借款基礎現金；以及(Ii)在提取現金的一(1)個營業日內，借款人應向行政代理提供反映更新的合格借款基礎現金的更新的借款基礎證書。9.2和(2)行政代理機構在任何日曆年行使此種權利的次數不得超過兩次；此外，如果發生違約事件，行政代理機構(或其任何代表或獨立承包人)可在正常營業時間內的任何時間，在合理的事先通知下，由借款人承擔費用，行使上述任何權利。行政代理和所要求的貸款人應給予借款人參與與借款人的獨立公共會計師進行任何討論的機會。即使本第9.2條有任何相反規定，借款人或任何附屬公司均不得根據本第9.2條披露或允許查閲或討論任何文件、信息或其他事項，前提是此類行為違反任何律師-客户特權(由貸方律師(內部或外部)合理確定)、法律、規則或法規，或對貸方或其各自關聯公司或構成律師工作產品(由貸方律師(內部或外部)合理確定)具有約束力的任何合同保密義務(不是在考慮中產生的)。130 9.3保險的維持借款人將，並將促使每家子公司，根據自我保險安排，或與保險公司，根據自我保險安排，或與保險公司，在相關保險安排或續保時，借款人認為(根據借款人管理層的善意判斷)財務健全和負責任的保險，保險金額至少為(在實施借款人認為(根據借款人管理層的善意判斷)的任何自我保險之後，(如適用)根據其業務的規模和性質是合理和審慎的)，並至少防範借款人根據其業務的規模和性質以及在具有成本效益的基礎上可獲得的保險是合理和審慎的(並根據借款人管理層的善意判斷，酌情)所承擔的風險(以及風險保留)；並在行政代理人提出書面合理要求時，向行政代理人提供有關如此投保的保險的合理詳細資料，但只要失責事件並未發生且仍在繼續，行政代理人在任何公曆年內只有權提出該要求一次。 9.4支付税款借款人將支付和清償，並將促使各子公司支付和清償，在罰款附加之日之前，對借款人或其收入或利潤或其任何財產徵收的所有税款、評估和政府收費或徵税，以及與徵收、評估或徵收的任何税款有關的所有合法索賠，如果未支付，可合理預期成為借款人或任何子公司的任何財產的重大留置權;但借款人或任何該等附屬公司均無須支付任何該等税項、評税、收費，（i）已維持足夠儲備金，正以真誠及適當程序提出爭議的徵款或申索（根據借款人管理層的善意判斷）根據公認會計原則，或（ii）根據《破產法》，未能支付不會合理預期導致重大不利影響或被允許或要求。 9.5合併的公司特許經營權借款人將採取，並將促使作為子公司的各子公司採取，或促使採取一切必要措施，以保持其存在、公司權利和授權的充分效力和效果，但不採取這些措施不會合理預期產生重大不利影響的情況除外;但是，借款人和子公司可以完成本協議允許的任何交易，包括第10.2、10.3、10.4或10.5。131 9.6遵守法規、規例等借款人將並將促使每家子公司遵守適用於其或其財產的所有適用法律，包括開展業務所需的所有政府批准或授權，並在每種情況下保持所有此類政府批准或授權的全部效力，除非不遵守規定不會產生重大不利影響。9.7貸款人僅就任何商業事項召開電話會議時，貸款方(包括一名或多名其他高級管理層成員)應並應在合理時間安排其財務顧問(如適當和適用)由借款人和行政代理人不時(且不超過每月)相互合理地商定，主持與行政代理人、貸款人及其財務顧問的電話會議。9.8物業保養借款人將，並將促使附屬公司保持及保養所有物業材料，使其處於良好的運作狀態及狀況(正常損耗、傷亡及譴責除外)，但如未能做到這一點，合理地預期不會有重大不利影響者除外。9.9現金管理令各貸款方應在所有重要方面按照現金管理令維護其現金管理系統(受制於其中規定的貸款人的任何批准或同意權)。9.9.11在符合擔保、擔保文件、ABL債權人間協議(如果存在)和本協議(包括第9.12條)中規定的任何適用限制的情況下，借款人將使借款人在截止日期後組成或以其他方式購買或收購的每個直接或間接國內子公司(不包括任何被排除的子公司)以及借款人不再構成被排除子公司的每個其他國內子公司在成立、收購或停止之日(或所需貸款人在其合理酌情權下可能同意的較長期限)，對擔保和擔保協議各簽署一份補充文件，以成為擔保項下的擔保人和擔保協議項下的設保人/質押人。9.12進一步保證：(A)在符合本協議(包括第9.11節)、擔保文件和ABL債權人間協議(如果存在)規定的適用限制的情況下，借款人將並將促使對方貸方簽署任何和所有其他文件、融資報表、協議和票據，並採取任何適用法律可能要求的所有此類進一步行動(包括對融資報表、固定裝置檔案、抵押、信託契據和其他文件的存檔和記錄)，或抵押品代理人可以合理請求，以便授予、保存、保護和完善適用的擔保文件所設定或擬設定的擔保權益的有效性和優先權，一切費用由借款人和子公司承擔。(B)在證券文件(包括任何按揭)所列任何適用限制的規限下，如果任何擔保文件擔保的資產(包括任何自有不動產或構成重大不動產的改進)在截止日期後被借款人或任何附屬擔保人收購，或在根據第9.11節成為擔保人之時或之後由任何附屬擔保人持有(擔保文件下構成抵押品的資產在取得擔保文件時受任何擔保文件的留置權約束的資產或根據第10.2(D)或10.2(G)條授予的受留置權約束的資產除外)，借款人應立即將此情況通知抵押品代理人，如果抵押品代理人提出要求，將導致此類資產受到留置權的約束，以確保債務，並將在商業上合理的情況下儘快採取抵押品代理應採取或合理要求的行動，但在任何情況下不得晚於30天，除非抵押品代理以其合理的酌情決定權延長，以授予和完善符合擔保文件的適用要求的此類留置權，包括本節(A)段所述的行動，費用均由貸方承擔。(C)根據前款(B)向抵押品代理人交付的任何抵押品，應附有(D)款所列的該抵押品所涵蓋的資產類型的慣常項目。任何該等按揭所涵蓋的資產類別的慣常項目，如在按揭交付時未能合理地獲得，則可在按揭交付後一段商業合理的期間內交付。(D)對於構成重大不動產的任何自有不動產，在貸款人要求的範圍內，借款人將在60天內向抵押品代理人交付或安排交付(I)由每一債務人的授權人員籤立的關於構成重大不動產的每項自有不動產的抵押，(Ii)一份或多份所有權保險保單，將每項抵押的留置權作為構成其中所述重大不動產的自有不動產的有效留置權進行保險，而不受任何其他因素的影響[133除經抵押品代理人許可的產權負擔或經抵押品代理人書面同意(包括通過電子郵件)的留置權，連同抵押品代理人可能合理要求的背書和再保險，連同抵押品代理人合理接受的證據，證明支付上述所有權保險單所需的所有所有權保險費、檢索和審查費、第三方託管費和相關費用、費用、成本和開支；(Iii)按所需貸款人的要求和滿足上述第(Ii)款要求的合理必要程度進行的調查；(Iv)所有其他文件和文書，包括《統一商法典》或其他適用的固定設備擔保融資報表，(V)構成重大不動產的每個此類不動產所在州的法律顧問的書面意見應以適當的形式交付給擔保人，以便存檔、登記或記錄；(V)法律顧問的書面意見。如果任何構成重大不動產的自有不動產中包含的任何建築物或其他改善設施在任何時間位於聯邦緊急事務管理署(或任何後續機構)確定為根據1968年《國家洪水保險法》(現在或以後生效或其後續法案)提供洪水保險的特別洪水危險區域的區域內，則借款人應在交付抵押貸款之前交付或安排交付：(I)關於構成重大不動產的每個自有不動產的完整的聯邦緊急事務管理署標準洪水確定，在每一種情況下，其形式和實質均令抵押品代理人合理滿意；以及(Ii)在適用法律要求的範圍和金額內，關於構成重大不動產的每一財產的洪水保險證據，在每一種情況下，形式和實質均令抵押品代理人合理滿意。(E)儘管本協議有任何相反規定，但如果借款人和所需貸款人在其合理判斷中(以書面形式向借款人和行政代理確認)同意，在任何財產上設立或完善任何留置權的成本或其他後果(包括不利的税收和會計後果)相對於由此向擔保當事人提供的利益而言是過高的，則該財產可被排除在信貸文件的所有目的的抵押品之外。9.13使用款項借款人將使用在結算日簽發的信用證支持或取代結算日現有的信用證和/或在結算日之前向借款人或任何附屬公司簽發的任何信用證。借款人將在截止日期後將信貸延期所得資金用於營運資金和一般企業用途。9.14]已保留[9.15業務變更借款人及其附屬公司整體而言，不會從根本及實質上改變其整體業務的性質，不同於借款人及附屬公司於成交日期所進行的整體業務及其他業務134該等業務為其延伸或其他類似、附帶、互補、協同、合理相關或附屬於任何前述事項的活動，由借款人真誠地釐定。9.16里程碑借款人應遵守下列里程碑(統稱為“里程碑”)：(A)]已保留[已保留]。(C)最終命令應在請願書日期後不遲於四十五(45)天作出。(D)[已保留]。(E)2023年的PBGC和解應在該計劃確認之前獲得破產法院的批准。(F)[已保留]已保留
已保留
。(I)批准披露聲明的充分性的命令應不遲於請願書日期後六十(60)天作出，其形式和實質應為債務人和所需貸款人所接受。(J)以債務人和所需貸款人合理接受的形式和實質確認該計劃的命令(“確認命令”)應在請願書日期後不遲於六十(60)天發出。(K)在請願日期後九十(90)天內，“計劃”的實質完成應已完成。9.11.除非已根據《擔保協議》設定有效的留置權並根據有效的UCC融資聲明予以完善，否則借款人應立即通知抵押品代理人，如果抵押品代理人提出要求，借款人將使該等資產享有擔保債務的留置權，並將在商業上合理但在任何情況下不得晚於五(5)個工作日的情況下，採取並促使其他貸方採取抵押品代理人必要或合理要求的行動，除非抵押品代理人以其合理的酌情決定權延長給予和完善此類留置權，以符合證券文件的適用要求。包括本節(A)段所述的行為，費用全部由信用證各方承擔。9.18現金管理系統(A)作為附表9.18隨附的是截至結算日借款人和作為主要附屬公司的附屬擔保人所管理的所有DDA的附表，該附表包括就每個託管銀行而言，(I)該託管銀行的名稱和地址；(Ii)該託管銀行的賬號(S)；(Iii)該託管銀行的聯繫人；以及(Iv)該託管銀行是否必須遵守凍結賬户協議。(B)在截止日期後30天內，或行政代理根據其合理酌情決定權同意的較長期限內，借款人和每一附屬擔保人將作出商業上合理的努力，就DDA(除外賬户除外)(受封鎖賬户協議約束的此類DDA，統稱為“封鎖賬户”)訂立令行政代理合理滿意的彈性凍結賬户協議(各自為“封鎖賬户協議”)。借款人特此同意，一旦簽訂凍結賬户協議，借款人或任何附屬擔保人在非凍結賬户的任何DDA中收到的所有現金(除外賬户中持有的金額以及適用法律要求的僅就其定義第(Ii)款中確定的除外賬户而言的除外賬户除外)將立即轉移到凍結賬户(現金支配期內屬於現金集合賬户的凍結賬户除外)。在簽訂被凍結賬户協議後，此後任何時候都應至少有一個136被凍結賬户不是現金池賬户。在任何DDA既用於託收又用於其他目的(包括付款和支付或現金彙集功能)的範圍內，借款人應在截止日期後90天內(或行政代理在其合理的酌情決定權下同意的較長期限)或(I)終止每個此類賬户的其他功能(託收以外的功能)，或(Ii)將該賬户的託收功能轉移到另一個受阻止賬户協議約束且僅專用於託收的賬户。(C)每份凍結賬户協議(如有的話，不包括與DIP收益賬户或外匯儲備賬户有關的任何此類凍結賬户協議，該協議不得允許行政代理在DIP定期貸款未償還期間作出任何此類指示)應允許行政代理在現金支付期(以及行政代理遞交有關通知)期間指示託管機構在每個營業日向行政代理在北卡羅來納州花旗銀行維持的集中賬户轉賬。 如果在現金支配期內的任何時間，借款人或任何子公司擔保人擁有的任何現金或現金等價物（除外賬户中持有的金額，且僅適用法律要求的除外賬户定義第（ii）條中規定的除外賬户）存入任何賬户，或以任何方式持有或投資，除了在凍結的帳户中（作為現金池賬户的凍結賬户除外）受凍結賬户協議約束（或每日轉入凍結賬户（作為現金池賬户的凍結賬户除外）的DDA），行政代理人可以要求相關人員關閉該賬户，並將其中的所有資金轉移到凍結賬户（現金池賬户除外），以及所有未來存入凍結賬户的款項（作為現金池賬户的凍結賬户除外）受凍結賬户協議約束;前提是，如果現金或現金等價物在現金支配期內存入任何凍結賬户（即現金池賬户），則借款人應將此類現金和現金等價物轉移至非現金池賬户的凍結賬户，但是，除非違約事件已經發生並仍在繼續，行政代理人不得要求（i）關閉任何此類現金池賬户，或（ii）在現金支配期開始前存入任何此類現金池賬户的任何現金和現金等價物應轉移至凍結賬户，不是現金池賬户。除上述規定外，在現金管理期內，應行政代理人的要求，借款人應向行政代理人提供被凍結賬户內容的賬目，該賬目應確定抵押品的收益，並使行政代理人合理地滿意，這些抵押品被存入被凍結賬户並劃入集中賬户。[137(D)借款人和附屬擔保人可以關閉DDA或被凍結的賬户和/或開設新的DDA或被凍結的賬户，但須符合本第9.18節的規定，並在其他合理令行政代理滿意的情況下，簽署適當的被凍結賬户協議並交付給行政代理(與任何被排除的賬户相關的除外)。上述人員均應事先書面通知行政代理其開立或關閉被凍結帳户的意向，行政代理應立即通知借款人行政代理是否需要與將與其保持該帳户的人簽訂一份被凍結帳户協議。(E)借款人和附屬擔保人還可以維持一個或多個零餘額支出賬户，供這些人在正常業務過程中或在本協議允許的情況下用於支出和付款(包括工資)。(F)每個集中賬户在任何時候都應由行政代理獨家管轄和控制。各信用方在此確認並同意：(I)該信用方無權從任何集中賬户中提取資金；(Ii)每個集中賬户中存放的資金在任何時候都應繼續作為擔保文件規定的所有義務的抵押品；以及(Iii)每個集中賬户中存放的資金應按本協議的規定使用。如果不遵守本第9條的規定。(G)只要不存在現金管治期，借款人和附屬擔保人就可以指示並獨家控制被凍結賬户中的資金處置方式(屬於現金彙集賬户的被凍結賬户除外，借款人和附屬擔保人可就此指示並獨家控制資金處置方式，只要違約事件沒有發生且仍在繼續)。(H)任何集中賬户中任何時間收到的任何金額，應在根據第5.2(B)節使用該等金額後，匯入借款人的營運賬户。(I)在現金支付期終止或違約事件(視情況而定)發生時，行政代理人應根據第9.18(C)款向每個已被凍結賬户的開户人迅速(但無論如何在一個工作日內)提供終止通知的書面通知。(J)以下規定適用於根據本協議進行的存款和付款：138(I)資金應被視為已在繳存當日的營業日存入適用的集中賬户，但行政代理必須在下午4：00前收到存款。在該營業日(除非在下午2：00之前全額支付債務)支付給行政代理人的資金，除通過存入集中賬户的方式外，應視為在營業日收到，只要行政代理人在下午4：00前收到這筆款項。 在該工作日（iii）如果集中賬户的存款或付款在某個工作日下午4：00之後才可向行政代理人提供，則該存款或付款應被視為在下一個工作日上午9：00時作出;及（iv）若存入任何集中賬户並根據第5.2（b）條申請的任何項目因任何原因被拒付或退回未付款，無論該退回是否合法或及時，行政代理人應有權撤銷該申請，借款人應賠償擔保方因該拒付或退回而產生的所有合理的現金索賠和損失。 9.19評估和現場檢查（a）行政代理機構可以在任何財政年度進行一次庫存評估和一次現場檢查，費用由借款人承擔;但是，儘管有上述限制，（x）在超額可用性低於18，000美元（以較大者為準）之日後的任何時間，000美元和額度上限的15%，在每個財政年度可以進行一次額外的現場檢查和一次額外的庫存評估，直到超額可用性至少達到18，000美元，000和額度上限的15%，連續20個日曆日，以及（y）在違約事件持續期間的任何時間，可按照行政代理人在其允許的自由裁量權中確定的頻率進行現場檢查和庫存評估，費用由借款人承擔。17(A)。此類庫存評估和現場審查應不遲於2023年2月28日完成(行政代理可根據其允許的酌情決定權將該日期延長至2023年3月31日，任何進一步的延期均需徵得所需貸款人的同意)。9.20如借款人於臨時命令發出後五個營業日內償還若干債務，借款人應(或應促使其附屬公司)全額償還中期貸款DIP訂單附件(附件B 139)所載批准借款人訂立DIP定期貸款信貸協議的“DIP預算”所預期的與行政代理的若干現金池賬户有關的若干債務。第10條負面契約借款人在此約定並同意，在截止日期(緊接交易生效後)及之後，在循環信貸承諾總額之前，所有貸款、所有信用證均已終止(已擔保的信用證、L/C的現金擔保或以適用的L/C發行人合理滿意的條款和條件以其他方式抵押)，以及貸款連同利息、費用和所有其他債務(有擔保對衝協議和有擔保特定對衝協議項下的對衝義務、有擔保現金管理協議和有擔保現金管理協議項下的現金管理義務或或有債務除外)，全額償付：10.1債務限額借款人不會，也不會允許子公司產生、招致、承擔或忍受任何債務。5和10。13、借款人或任何附屬公司對借款人或任何附屬公司的債務；但任何貸款方對非貸款方的任何人所欠的所有此類債務應(X)無擔保，並根據行政代理合理滿意的公司間票據進行從屬；此外，該公司間票據不得要求任何外國子公司在截止日期後30天前交付；(E)在遵守第10.5條的前提下，(I)子公司因借款人或本協議允許發生的任何其他子公司的債務而發生的擔保義務，以及(Ii)借款人因根據本協議允許發生的子公司的債務而發生的擔保義務；但條件是：(X)如果根據第10.1(E)條提供擔保的債務從屬於債務，則該等擔保義務應服從對債務的擔保，其條款(作為整體)至少與該債務的從屬條款中所包含的條款一樣有利於貸款人，並且(Y)非貸款方的子公司不得根據本第10.1(E)條擔保該子公司在本第10條下不能產生的債務。5(第10.5節(L)參照第10.1節和第10.5(Q)節允許的投資除外)；但第(Ii)款不得解釋為限制第10節的要求。1(M)在任何時候不得超過30,000,000美元；(N)現金管理服務方面的債務，以及在正常業務過程中與透支設施、員工信用卡計劃、淨額結算服務、自動票據交換所安排和其他現金管理及類似安排有關的其他債務；(O)(I)在正常業務過程中因借款人或任何附屬公司支付商品或服務的延期購買價款或與該等商品和服務有關的進度付款的義務而產生的債務；及(Ii)]141借款人或與借款人的任何附屬公司或任何附屬公司就在正常業務過程中出售的貨物或提供的服務所產生的應付帳款而承擔的債務，並符合以往慣例，但不與借款有關；(P)借款人或任何附屬公司就賠償、調整購買價格或類似債務(包括收益)達成的協議所產生的債務，在每種情況下，這些債務都與投資和處置本協議所允許的任何業務、資產或股票或股票等價物有關；(Q)借款人或任何附屬公司的負債，包括(I)為保險費融資或(Ii)承擔或支付供應協議所載的債務，兩者均在通常業務過程中產生；。(R)對借款人及其附屬公司的僱員、顧問或獨立承建商在通常業務過程中產生的遞延補償或類似安排的債務；(S)
保留區
；(T)由借款人和附屬公司根據遞延補償或該人在與交易有關的其他類似安排下產生的債務組成的債務；(U)
保留區[保留區]保留區[保留區] 1.13 [保留區]保留區[(Aa)在正常業務過程中從客户收到的在正常業務過程中購買的貨物和服務的債務、客户保證金和預付款(包括預付款)；(Bb)(I)借款人或由信用證支持的任何附屬公司的債務，本金金額不超過該信用證規定的金額，只要該信用證是依據第10.1節以其他方式允許發生的，或(Ii)為借款人或借款人的任何附屬公司的利益而為借款人或借款人的任何附屬公司的利益而簽發、作出或發生的與在美國以外的司法管轄區進行的任何法定申報或提交審計意見有關的支持信用證、擔保或類似義務的義務；142(Cc)]保留區[；(Dd)]保留區
；(Ee)[保留區] 2.7 [(Ff)上述(A)至(Ee)條所述債務的所有保費(如有)、利息(包括呈請後的利息)、費用、開支、收費，以及額外或或有利息。就本公約而言，利息或股息的應計、增值的增加、原始發行折扣的增加或攤銷，以及以額外負債或不合格股票形式支付的利息或股息，不會被視為產生或發行負債或不合格股票。本協議不會僅僅因為(1)無擔保債務是無擔保債務而將其視為從屬於或次於有擔保債務，或(2)僅因其對同一抵押品具有較低的留置權優先權而將優先債務視為從屬於或次於任何其他優先債務。10.2對留置權的限制借款人將不會，也不會允許子公司在借款人或該附屬公司的任何財產或資產(不動產或非土地、有形或無形)上設立、招致、承擔或容受任何留置權，無論是現在擁有的還是以後獲得的，但以下情況除外：(A)信用證文件項下產生的留置權，包括訂單(為免生疑問，包括因啟動留置權而授予的足夠保護的留置權)；(B)確保根據第10.1(C)節允許發生的債務的留置權；但此類留置權不得附加於任何非抵押品的資產或財產(排除在外的建築物除外)，並應受ABL債權人間協議的約束；(C)保證請願前的第一留置權債務的留置權；(D)根據第10.1(H)節允許的保證債務的留置權；但除特此另予準許外，該等留置權在任何時候均只附連於如此融資的資產，但以下情況除外：(1)加入以該等債務的收益及其收益及其產品融資的財產；及(2)由一名貸款人提供的個別設備融資可與該貸款人提供的其他設備融資作交叉抵押；。(E)在呈請日存在的留置權；。]保留區
143(G)對除截止日期以外的現有信用證的現金和現金等價物的留置權；。(H)對任何附屬公司的資產的額外留置權，而該附屬公司不是為第10.1節允許的附屬公司的債務提供擔保的貸款方(或該附屬公司的其他不構成債務的義務)；。[保留區]保留區
(K)為貸方(借款債務除外)和非貸方子公司的債務提供擔保的額外留置權，只要由此擔保的債務總額在產生或發行時在任何時候不超過20,000,000美元；(L)[保留區]；(M)允許的產權負擔；及(N)補充、修正、修正和重述、修改、替換、再融資、退款、重組、延長或續期本第10.2節(E)款所允許的任何留置權，這些留置權位於或位於受該留置權約束的同一資產上(或在附加或併入該留置權所涵蓋的財產及其附加物或其任何收益或產品的基礎上或之後獲得的財產上)。10.3對基本變化的限制借款人將不會也不會允許子公司完成任何合併、合併或合併，或清算、清盤或解散(或遭受任何清算或解散)，或轉讓、出售、租賃、轉讓、轉讓或以其他方式完成其所有或基本上所有業務單位、資產或其他財產的處置，但下列情況除外：
保留區[；(B)只要未發生違約事件，且違約事件仍在繼續或將導致違約，則任何非債務人附屬公司可與任何一家或多家非債務人附屬公司合併、合併或合併為任何一家或多家非債務人附屬公司；]保留區[（d）非信貸方的任何子公司可向借款人或任何其他子公司出售、租賃、轉讓或以其他方式處置其任何或全部資產（在自願清算或其他情況下）;（e）借款人或借款人的任何子公司可向任何信貸方出售、租賃、轉讓或以其他方式處置其任何或全部資產（在自願清算或其他情況下）。 144締約方;但除債務人外的任何人對任何此類處置的對價不得超過此類資產的公允價值;（f）任何子公司可以清算或解散，如果（i）借款人真誠地確定該清算或解散符合借款人的最佳利益，並且不會對貸款人造成重大不利，以及（ii）該子公司是信貸方，該子公司的任何資產或業務未按照第10.4或10.5節的規定進行處置或轉讓，或在任何此類業務已終止的情況下，應在清算或解散生效後轉讓給債務人，或由債務人以其他方式擁有或經營;（g）任何非債務人子公司可以改變其法律形式，只要沒有發生違約事件，並且違約事件正在持續或將由此產生; ]保留區
（i）該等交易可能完成;及（j）借款人及附屬公司可完成合並、合併解散、清盤、清盤、合併或處置，構成或以其他方式導致，第10.4節允許的交易（除根據第10.4（d）和（y）節的規定處置借款人及其子公司的全部或絕大部分資產外，借款人或任何擔保人以外的任何人）、根據第10.5節（第10.5（l）節除外）允許的投資以及根據第10.6節（第10.6（f）節除外）允許的任何限制性付款。 10.4處置限制借款人不會也不會允許子公司進行任何處置，除非（在每種情況下，均應遵守本第10.4節最後一句中規定的要求，如適用）：（a）借款人及附屬公司可出售、轉讓或以其他方式處置（i）過時、可忽略、不重要、破舊、不經濟、廢料、使用過的，或剩餘或封存的資產（包括在該等處置的預期中已翻新的任何該等設備）或在業務中不再使用或有用或在商業上不再適宜維持的資產，（ii）庫存或貨物（iii）現金及現金等價物，（四）無形資產（包括允許任何非關鍵性知識產權的註冊或註冊申請在正常業務過程中失效或放棄），及（v）用作慈善捐款或類似饋贈的資產，但該等資產對借款人及附屬公司的能力而言並不重要，作為一個整體，在正常過程中開展其業務;（b）借款人和子公司可以進行資產處置，其公平市場價值總計不超過5，000，000美元;（c）（i）借款人及附屬公司可向借款人或任何其他信貸方作出處置，（ii）任何非信貸方的子公司可 [145對借款人或借款人的任何其他子公司的處置，以及（iii）任何信貸方可以在第10.13節允許的範圍內對非信貸方進行處置;（d）借款人和任何子公司可進行第10.2、10.3節允許的任何交易;（第10.3（j）節除外）、10.5（第10.5（l）節除外）或10.6節（第10.6（f）條除外）;（e）借款人和任何子公司可以租賃、轉租、許可（僅在非排他性的基礎上，就任何知識產權而言）或分許可（僅在非排他性的基礎上，就任何知識產權而言）正常經營過程中的不動產、動產或知識產權;（f）財產處置（包括同類交換），條件是（i）該財產被交換為類似替代財產（不包括其上的任何靴子）的購買價格的信貸，或（ii）該處置的收益被用於該替代財產的購買價格，在每種情況下，根據法典第1031條或其他規定;（g） ]; (h) [保留區]（h）處置（i）對合營企業的投資（無論法律實體的形式如何），合營安排及類似具約束力的安排所載的合營各方之間的慣常買賣安排或認沽/認購安排，或（ii）（一）在合營企業和類似安排所要求的範圍內，就合營企業的解散或終止向合營企業披露;
保留區[（j）附表10.4所列的處置;（k）在收到回收事件或報廢程序的淨現金收益後，轉讓受回收事件影響或與任何報廢程序相關的財產;（l）與應收賬款或應收票據的收回或妥協或應收賬款或應收票據轉換有關的應收賬款或應收票據的處置或折扣應收款;（m） ]保留區
（n）任何對衝協議的籤立（或修訂）、結算或解除;（o） [保留區]（p）放棄或放棄合約權利，以及和解或放棄合約或訴訟申索; 146（q）
保留區[保留區]；(S)借款人及任何附屬公司可(I)終止或以其他方式終止其與借款人或任何附屬公司的成本分擔協議，並結算與此相關的任何交叉付款；(Ii)將任何公司間對股票或任何股票的債務轉換為公司間債務；(Iii)清償、貼現、註銷、免除或取消借款人或任何附屬公司所欠的任何公司間債務或其他債務；或(Iv)清償、貼現、註銷、免除或取消控股公司任何現任或前任顧問、經理、董事、高級管理人員或僱員、借款人、其任何直接或間接母公司所欠下的任何債務。或其任何附屬公司或其任何繼承人或受讓人；(T)在以下範圍內作出的任何財產處置：(1)該等財產以自該財產起計270天內購買的同類重置財產的購買價格作抵扣，或(2)該項處置所得的收益迅速用於該重置財產的購買價格(該重置財產實際上是在該重置財產購買後270天內購買的)；。[保留區](V)在正常業務過程中交換服務或其他資產的任何交換，這些服務或其他資產對借款人和子公司的業務作為一個整體具有相當或更大的公平市場價值或有用性，由借款人真誠地確定；和(W)借款人和/或任何子公司之間或之間的任何資產的處置，作為與上文(A)至(V)款所允許的其他處置有關的基本上同時進行的臨時處置；但在任何該等產權處置生效後，在受該等產權處置所規限的資產構成抵押品的範圍內，該等資產須繼續受證券文件的留置權所規限，或重新加入證券文件的留置權。儘管有上述規定，除非根據第10.4(E)條的規定，否則貸方不得將任何知識產權轉讓或以其他方式處置給非貸方的任何人。基本上在完成任何處置(第10.4(A)(Ii)條允許的任何處置除外)的同時，如果在該處置中處置了構成借款基礎5%以上的資產，借款人應提交一份更新的借款基礎證書，使該處置具有形式上的效力，以及足以證明在該處置生效後應立即滿足可用性要求的147項計算。10.5投資限制借款人將不會、也不會允許子公司進行任何投資，但下列情況除外：(A)根據與他人的聯合營銷安排、原始設備製造商安排或開發協議，擴大貿易信貸、資產購買(包括購買庫存、用品、材料和設備)以及知識產權的許可或貢獻；(B)在進行此類投資時以現金或現金等價物進行投資；(C)[保留區](D)截止日期當日存在的或依據截止日期存在的具有法律約束力的書面承諾進行的投資；(E)借款人或任何附屬公司(I)為交換借款人或任何該等附屬公司所持有的任何其他投資或應收賬款，而持有的任何其他投資或應收賬款，而該等其他投資或應收賬款是與該等原始投資或應收賬款的發行人、債務人或借款人的發行人、債務人或借款人之間的糾紛或判決破產、清算、重組或資本重組或達成和解的結果，或(Ii)借款人或任何附屬公司就任何違約的擔保投資或任何其他所有權轉讓而止贖，或(Iii)由於訴訟的和解、妥協或解決所致，與非關聯人的仲裁或其他糾紛或對他人不利的裁決或判決；(F)
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（g）（i）借款人或任何子公司對借款人或任何作為信貸方的子公司的投資，（ii）根據第10.13節，任何非信貸方的子公司對任何其他非信貸方的子公司的投資，（iii）根據第10.13節，從外匯儲備賬户中提取的初始公司間交易和對非信貸方的子公司的任何投資的預付款，以及（iv）根據L/C為非信貸方的任何子公司提供的貸款; [保留區] 6.11 [保留區]（j）構成第10.4節允許的資產處置所收到的非現金收益的投資;
保留區[; 148（l）由第10.1節允許的債務、留置權、限制性付款、基本變化和處置構成或產生的投資（第10.1（d）、10.1（e）和10.1（g）（ii）條除外）、10.2、10.3（第10.3（j）節除外）、10.4（第10.4（d）節除外）、10.6（第10.6（f）節除外）、10.7或10.8節（如適用）;（m）向借款人的任何直接或間接母公司發放的貸款和墊款，以代替但不超過第10.6條允許向該母公司發放的受限制付款的金額;但該等貸款和墊款的總金額應使借款人和子公司根據第10.6條的適用條款進行限制性付款的能力減少該等金額;（n）屬於在正常業務過程中給予貿易信貸而產生的應收賬款或應收票據性質的信貸展期的投資，（o）正常業務過程中的投資，包括背書收款或存款以及與客户達成的符合以往慣例的慣常貿易安排;（p）在正常業務過程中向僱員、顧問或獨立訂約人預支的工資，或向僱員、顧問或獨立訂約人預支的其他薪金或補償;（q）借款人或任何租賃附屬公司的擔保義務（資本租賃除外）或不構成債務的其他義務，在每種情況下，在正常業務過程中訂立;（r） ]保留區[（s）第10.1節允許的套期保值協議投資; ]保留區[（u）由現金和現金等價物存款組成的投資，作為第10.2節允許的抵押支持; ]保留區[保留區]（x）包括在正常業務過程中購買和獲得資產和服務的投資;（y）正常業務過程中的投資，包括第3條關於收款或存款的背書和第4條與客户達成的符合以往慣例的慣常貿易安排;
保留區[（aa）在借款人或其任何子公司破產的情況下，與向僱員、董事、合夥人、成員、顧問、獨立承包商或其他服務提供商的利益的“拉比”信託或受債權人索賠影響的其他授予人信託的賠償安排有關的出資;（bb）與養老金信託有關的投資;（cc） ]保留區
；(Dd)[保留區] (e) [（ee）對在正常業務過程中開立的存款賬户、商品和證券賬户的投資;（ff）僅在該等投資反映本協議允許的投資價值增加的範圍內的投資;及（gg）對預付費用、為收取及租賃而持有的可轉讓票據、公用事業及工人補償的投資，履約保證金及在正常業務過程中因經營業務而訂立的類似保證金。 儘管有上述規定，除根據（i）第10.5（l）條（僅與第10.4（e）或（g）條允許的處置有關）或（ii）第10.5（w）條的但書外，不得進行由信貸方向非信貸方子公司轉讓或以其他方式處置任何知識產權構成或由此產生的投資。 10.6限制性付款的限制借款人將不會，也不會允許子公司宣佈或支付任何限制性付款，除非： ]保留區
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；(C)借款人可以向Holdings支付所需數額的限制性付款，每次付款不得重複：(1)[保留區](Ii)(A)在正常業務過程中發生的一般營運開支及其他公司間接費用及開支(包括由第三方提供的行政、法律、會計及類似開支)，或。(B)借款人或其任何附屬公司的現任董事或高級職員(為免生疑問，不包括董事的任何前任董事或高級職員)提出的任何彌償申索；或。(Iii)特許經營税和消費税以及維持控股公司存在所需的其他費用、税項和開支；。(Iv)[保留區]. (b) [保留區](6)應付給借款人的任何直接或間接母公司的高級職員、僱員或顧問的慣常薪金、花紅、遣散費及其他福利，但這些薪金、花紅及其他福利須歸因於借款人及其附屬公司的所有權或經營權；[保留區]；(E)由留置權、基本變動、產權處置、投資或第10.2、10.3(第10.3(J)條除外)、第10.4(第10.4(D)條除外)、第10.5(第10.5(L)條除外)、第10.7或10.8條(視何者適用而定)所準許的其他付款或由留置權、基本變動、產權處置、投資或其他付款所構成或產生的限制付款；。[保留區]. (g) [保留區]. (h) [保留區]保留區
保留區
保留區[(L)借款人可以支付第10.11節所述款項(第10.11(B)節除外)；]保留區[保留區]; (v) [保留區]; (w) [保留區]; (x) [保留區]; (y) [保留區]; (z) [及151(S)每間附屬公司可向借款人及借款人的其他附屬公司作出有限制的付款(如屬非全資附屬公司的有限制付款，則向借款人及任何其他附屬公司支付，與該附屬公司的其他股份擁有人相比，按比例或超過按比例，以彼等擁有相關類別股份的權益為基準)。10.7對債務預付款的限制和修訂，除非訂單中的條款和條件明確允許，否則借款人將不會也不會允許子公司強制或自願支付或預付、回購或贖回或以其他方式抵銷債務人在第11章申請破產保護之前發生或產生的任何債務。10.8對附屬分配的限制借款人將不會，也不會允許任何非擔保人的子公司直接或間接地產生、以其他方式導致或忍受存在或生效對任何該等子公司(X)(I)向借款人或作為其股票或股票等價物擔保人的任何子公司支付股息或進行任何其他分配，或關於任何其他權益或參與其利潤，或(Ii)支付欠借款人或作為擔保人的任何子公司的任何債務的能力的任何自願的限制，(Y)向借款人或作為擔保人的任何附屬公司提供貸款或墊款，或(Z)向借款人或作為擔保人的任何附屬公司出售、租賃或轉讓其任何財產或資產，除非(在每種情況下)因下列原因而存在的該等產權負擔或限制：(A)在成交日期生效的合同產權負擔或限制，包括根據本協議、有關現金管理協議的文件、現有的對衝義務以及與DIP定期貸款信貸協議有關的合同產權負擔或限制；(B)購買貨幣債務和資本化租賃債務，該債務和資本化租賃債務對如此獲得的財產、該等財產或資產的任何替換及其附加和添加、受此種安排限制的獲取後的財產、其收益及其產品和有關該等財產的習慣擔保存款施加上文(X)、(Y)或(Z)款所述性質的限制，以及就任何貸款人提供的設備(或附加或附屬的資產以及添加和添加的設備)進行多次融資的情況下，由該貸款人提供資金的其他設備(或附加或附屬於該設備的資產以及附加物和附加物)(不言而喻，該項限制不得適用於如非該項取得則該項限制本不適用的任何財產)；(C)適用的法律或任何適用的規則、條例或命令，或對借款人或其任何附屬公司具有監管權力的任何政府當局的任何請求；]保留區[152(E)出售資產的合同，包括根據為出售或處置借款人的子公司的全部或幾乎所有股票或股票等價物或資產而訂立的協議對該子公司的慣例限制，以及對受本協議允許的受留置權限制的資產的轉讓的限制；(F)(X)依據第10.1和10.2節以其他方式準許產生的有擔保債務，該等債務限制債務人處置擔保該等債務的資產的權利；及。(Y)對轉讓受本條例所準許的留置權所規限的資產的限制或產權負擔(但就任何該等留置權而言，僅在該等轉讓限制只適用於該留置權的標的資產的範圍內)；。(G)客户根據在正常業務過程中訂立的合約所施加的現金或其他存款或資產淨值的限制或產權負擔，或客户在正常業務過程中訂立的合約所施加的限制或產權負擔；。(H)根據第10.1節的規定，允許在截止日期之後發生的子公司的其他債務或不合格股票所施加的限制或產權負擔；。(I)合資企業協議或安排和其他類似協議或安排中僅與該合資企業(包括其資產和子公司)以及由此發行的股票或股票等價物有關的習慣規定；。(J)在每種情況下在正常業務過程中訂立的租約、分租、許可證、分許可證或類似協議中的習慣規定；。]保留區[；(L)對租賃、轉租、許可證、再許可或以其他方式允許的資產出售協議的習慣限制，只要這些限制與財產權益、權利或受其約束的資產有關；(M)限制在正常業務過程中訂立的任何協議的轉讓或轉讓的習慣規定；(N)]保留區[；或(O)以上(A)至(N)條所指的合同、文書或義務的任何修訂、修改、重述、續期、增加、補充、退款、延期、替換或再融資所造成的上述(X)、(Y)和(Z)款所指類型的任何產權負擔或限制；但該等修訂、修改、重述、續期、增加、延期、補充、退款、延期、更換、重組或再融資(X)，在借款人的善意判斷下，就該等產權負擔及其他限制而言，與該等修訂、修改、重述、續期、增加、延期、重組、補充、退款、替換或再融資或(Y)不會實質上損害借款人在到期時(由借款人真誠地釐定)支付信貸文件項下債務的能力；]153但(X)任何優先股在以普通股支付股息或清算分配之前優先收取股息或清算分配，以及(Y)向借款人或作為擔保人的任何附屬公司提供的貸款或墊款(包括對借款人或作為擔保人的任何附屬公司產生的其他債務適用任何停頓要求)，不應被視為構成此類產權負擔或限制。10.9組織文件的修改借款人不會，也不會允許任何貸款方以對貸款人有實質性不利的方式修改或修改其任何組織文件，除非適用法律另有要求。10.10允許的活動和轉讓給母公司控股公司將不從事任何實質性的經營或經營活動；但在任何情況下，應允許下列及任何附帶活動：(I)其對借款人的股票(但不包括其他直接附屬公司)的所有權，包括與債務有關的股息和付款以及與股票有關的其他金額的收付，(Ii)其合法存在的維持(包括髮生和支付與此種維持有關的費用、成本和開支及税款的能力)，(Iii)履行其對交易的義務、信貸文件和任何其他允許的債務文件，(Iv)[保留區](5)融資活動，包括髮行證券、產生債務、收取和支付股息及分派、向借款人的資本供款及擔保借款人及附屬公司的義務；(6)如適用，以綜合集團成員身分參與税務、會計及其他行政事宜，並向其附屬公司提供通常由控股公司向其附屬公司提供的行政及顧問服務(包括金庫及保險服務)；(7)持有任何現金或其他財產(但不經營任何財產)；(8)支付及收取任何股息；(Ix)向高級職員及董事提供彌償；(X)[保留區]; (j) [，(Xi)與完成交易有關的活動和擬進行的活動，(十二)]保留區[、(Xiii)]保留區[、(Xiv)]保留區[，(Xv)與借款人或任何附屬公司的任何交易，但以本第10條、(Xvi)條明確允許的範圍為限。]Avaya DIP ABL信貸協議的簽名頁[出借人：S/蘇珊·奧納爾名稱：總裁副行長/S/菲利普·坦科拉名稱：總裁副行長附件一轉換日期條件(I)(A)RSA計劃和確認令應完全有效且不起作用，(B)RSA計劃和確認令均未被修改或修改或放棄其中包含的任何條件，(C)RSA計劃及RSA計劃下的“生效日期”生效前的所有條件須與轉換日期同時發生或將會同時發生，(D)DIP定期貸款已轉換為退出定期貸款(定義見生效日期生效的DIP定期貸款信貸協議)，及(E)所有HoldCo可轉換票據債權(定義見RSA計劃)將根據RSA計劃清償。(Ii)於轉換日期，(I)不得有任何未償還貸款及(Ii)於該日期或之前完成的任何供股生效後，(A)借款人及其附屬公司的負債定義(A)及(B)項所述類型的負債不得超過8.15億美元及(B)借款人及其附屬公司的現金及現金等價物應反映於根據公認會計原則於該日期編制的資產負債表內的現金及現金等價物的金額不得少於4億美元。(Iii)DIP收益賬户和外匯儲備賬户中持有的所有現金和現金等價物應已轉入公司的現金管理系統，並符合第9.18節的規定。(V)在轉換日期或將貸款轉換為退出ABL貸款時，不應存在違約或違約事件，也不會導致違約或違約事件。(Vi)行政代理應已收到以下各項：(1)已簽署的信貸協議副本，其中記錄了根據第2.15節在轉換日期退出ABL融資的條款和條件，該條款和條件應與第2.15節和退出ABL條款説明書一致。(2)在每個情況下，行政代理根據第2.15節的合理要求，根據第2.15節的規定，在轉換日期簽署的關於退出ABL貸款的修訂和重述信用證文件的籤立副本(包括但不限於對ABL債權人間協議的修訂和重述)，以反映退出ABL貸款的有效性和貸款在轉換日期轉換為退出ABL貸款的情況，並由貸款方和簽署頁上所列的其他各方正式簽署。附件一(3)貸方紐約特別律師Kirkland&Ellis LLP的習慣法律意見，其形式和實質令行政代理和所需貸款人合理滿意。(4)由獲授權人員發出的證明書，證明在轉換日期符合上文第(I)、(Ii)、(Iii)、(Iv)及(V)條所載的條件。(5)首席財務官證明書，證明在轉換日期，在實施本計劃預期於該日期完成的所有交易後，每一貸方均有償付能力。1（以及與之相關的任何協議），以及（ii）對於借款人而言，本協議項下預期的信貸延期，（b）截至轉換日期，各信貸方組織文件的真實完整副本，（c）良好的信譽證書（在相關司法管轄區內存在此類概念的情況下）借款人和擔保人，以及（d）該等決議及/或書面同意授權代表該等信用證方簽署信用證文件的該等信用證方代表的在職證明及簽名樣本。 (7)行政代理人和每一個提出同樣要求的代理人應收到（轉換日期前至少一（1）個營業日）管理代理人或貸款人在轉換日期前以書面形式合理要求的有關借款人和各擔保人的所有文件和其他信息，這些文件和其他信息是監管機構根據適用的“瞭解您的客户”以及反洗錢規則和法規，包括但不限於《愛國者法案》，前提是此類請求已在轉換日期前至少三（3）個營業日提交給借款人。 (8)在轉換日，借款人應符合受益所有權法規項下的“法人客户”資格，行政代理人應（至少在轉換日前3個營業日）收到與借款人有關的受益所有權證明。]附件I就以上第(Iv)款而言，“償付能力”就任何人而言，是指截至轉換日期，(I)該人財產(以持續經營為基礎)的現時公平可出售價值，大於在綜合基礎上支付其債務及其他債務(附屬債務、或有債務或其他負債)的可能負債所需的款額，因為該等債務及其他負債在正常業務過程中已成為絕對債務及到期債務；(Ii)該人並未從事，亦不會從事，(I)(I)於本協議日期擬進行的業務的資本額不合理地少，且(Iii)該人士有能力償付其附屬、或有或有或其他的債務及負債，因為該等負債在正常業務過程中成為絕對及到期的，及(Iv)該等人士的資產(按持續經營基準)的公允價值超過其附屬、或有或有或其他的債務及負債。就這一定義而言，任何或有負債在任何時候的數額，應計算為根據當時存在的所有事實和情況，代表可合理預期成為實際負債或到期負債的數額(無論這種或有負債是否符合財務會計準則第5號報表下的權責發生標準)。為確定轉換日期是否已發生，已簽署本協議的每一貸款人應被視為已同意、批准或接受或滿意本協議規定須經行政代理或該貸款人同意或批准、可接受或滿意的每一文件或其他事項。行政代理應將轉換日期通知借款人和貸款人，該通知具有決定性和約束力。
145 Dispositions to the Borrower or any other Subsidiary of the Borrower and (iii) any Credit Party may make Dispositions to a non-Credit Party to the extent permitted under Section 10.13; (d) the Borrower and any Subsidiary may effect any transaction permitted by Sections 10.2, 10.3 (other than Section 10.3(j)), 10.5 (other than Section 10.5(l)) or 10.6 (other than Section 10.6(f)); (e) the Borrower and any Subsidiary may lease, sublease, license (only on a non-exclusive basis, with respect to any intellectual property) or sublicense (only on a non- exclusive basis, with respect to any intellectual property) real, personal or intellectual property in the ordinary course of business; (f) Dispositions of property (including like-kind exchanges) to the extent that (i) such property is exchanged for credit against the purchase price of similar replacement property (excluding any boot thereon) or (ii) the proceeds of such Disposition are applied to the purchase price of such replacement property, in each case under Section 1031 of the Code or otherwise; (g) [reserved]; (h) Dispositions of (i) Investments in joint ventures (regardless of the form of legal entity) to the extent required by, or made pursuant to, customary buy/sell arrangements or put/call arrangements between the joint venture parties set forth in joint venture arrangements and similar binding arrangements or (ii) to joint ventures in connection with the dissolution or termination of a joint venture to the extent required pursuant to joint venture and similar arrangements; (i) [reserved]; (j) Dispositions listed on Schedule 10.4; (k) transfers of property subject to a Recovery Event or in connection with any condemnation proceeding upon receipt of the Net Cash Proceeds of such Recovery Event or condemnation proceeding; (l) Dispositions or discounts of accounts receivable or notes receivable in connection with the collection or compromise thereof or the conversion of accounts receivable to notes receivable; (m) [reserved]; (n) the execution of (or amendment to), settlement of or unwinding of any Hedging Agreement; (o) [reserved]; (p) the surrender or waiver of contractual rights and settlement or waiver of contractual or litigation claims, in each case, in the ordinary course of business; 146 (q) [reserved]; (r) [reserved]; (s) the Borrower and any Subsidiary may (i) terminate or otherwise collapse its cost sharing agreements with the Borrower or any Subsidiary and settle any crossing payments in connection therewith, (ii) convert any intercompany Indebtedness to Stock or any Stock to intercompany Indebtedness, (iii) settle, discount, write off, forgive or cancel any intercompany Indebtedness or other obligation owing by the Borrower or any Subsidiary or (iv) settle, discount, write off, forgive or cancel any Indebtedness owing by any present or former consultants, managers, directors, officers or employees of Holdings, the Borrower, any direct or indirect parent thereof, or any Subsidiary thereof or any of their successors or assigns; (t) any Disposition of property to the extent that (1) such property is exchanged for credit against the purchase price of similar replacement property that is purchased within 270 days thereof or (2) the proceeds of such Disposition are promptly applied to the purchase price of such replacement property (which replacement property is actually purchased within 270 days thereof); (u) [reserved]; (v) any swap of assets in exchange for services or other assets in the ordinary course of business of comparable or greater fair market value or usefulness to the business of the Borrower and the Subsidiaries, taken as a whole, as determined in good faith by the Borrower; and (w) Dispositions of any asset between or among the Borrower and/or any Subsidiary as a substantially concurrent interim Disposition in connection with a Disposition otherwise permitted pursuant to clauses (a) through (v) above; provided that after giving effect to any such Disposition, to the extent the assets subject to such Dispositions constituted Collateral, such assets shall remain subject to, or be rejoined to, the Lien of the Security Documents. Notwithstanding the foregoing, no transfer or other Disposition of any intellectual property by a Credit Party to any Person that is not a Credit Party may be made except pursuant to Section 10.4(e). Substantially simultaneously with the consummation of any Disposition (other than any Disposition permitted under Section 10.4(a)(ii)), if assets constituting more than 5% of the Borrowing Base are Disposed of in such Disposition, the Borrower shall deliver an updated Borrowing Base Certificate that gives pro forma effect to such Disposition, together with 147 calculations sufficient to demonstrate that the Availability Requirements shall be satisfied immediately after giving effect to such Disposition. 10.5 Limitation on Investments The Borrower will not, and will not permit the Subsidiaries, to make any Investment except: (a) extensions of trade credit, asset purchases (including purchases of inventory, supplies, materials and equipment) and the licensing or contribution of intellectual property pursuant to joint marketing arrangements, original equipment manufacturer arrangements or development agreements with other Persons, in each case in the ordinary course of business; (b) Investments in cash or Cash Equivalents when such Investments were made; (c) [reserved]; (d) Investments existing on, or made pursuant to legally binding written commitments in existence on, the Closing Date; (e) any Investment acquired by the Borrower or any Subsidiary (i) in exchange for any other Investment or accounts receivable held by the Borrower or any such Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization, or recapitalization of, or settlement of delinquent accounts or disputes with or judgments against, the issuer, obligor or borrower of such original Investment or accounts receivable, (ii) as a result of a foreclosure by the Borrower or any Subsidiary with respect to any secured Investment or other transfer of title with respect to any secured Investment in default or (iii) as a result of the settlement, compromise or resolution of litigation, arbitration or other disputes with Persons who are not Affiliates or in satisfaction or judgments against other Persons; (f) [reserved]; (g) (i) Investments by the Borrower or any Subsidiary in the Borrower or any Subsidiary that is a Credit Party, (ii) subject to Section 10.13, Investments by any Subsidiary that is not a Credit Party in any other Subsidiary that is not a Credit Party, (iii) subject to Section 10.13, the advance of the Initial Intercompany Transaction and any Investments in Subsidiary that is not a Credit Party with withdrawals from the Foreign Reserve Account and (iv) the issuance of Letters of Credit under the L/C Facility for the benefit of any Subsidiary that is not a Credit Party; (h) [reserved]; (i) [reserved]; (j) Investments constituting non-cash proceeds received from Disposition of assets permitted by Section 10.4; (k) [reserved]; 148 (l) Investments consisting of or resulting from Indebtedness, Liens, Restricted Payments, fundamental changes and Dispositions permitted by Section 10.1 (other than Sections 10.1(d), 10.1(e) and 10.1(g)(ii)), 10.2, 10.3 (other than Section 10.3(j)), 10.4 (other than Section 10.4(d)), 10.6 (other than Section 10.6(f)), 10.7 or 10.8, as applicable; (m) loans and advances to any direct or indirect parent of the Borrower in lieu of, and not in excess of the amount of, Restricted Payments to the extent permitted to be made to such parent in accordance with Section 10.6; provided that the aggregate amount of such loans and advances shall reduce the ability of the Borrower and the Subsidiaries to make Restricted Payments under the applicable clauses of Section 10.6 by such amount; (n) Investments consisting of extensions of credit in the nature of accounts receivable or notes receivable arising from the grant of trade credit in the ordinary course of business, and Investments received in satisfaction or partial satisfaction thereof from financially troubled account debtors and other credits to suppliers in the ordinary course of business; (o) Investments in the ordinary course of business consisting of endorsements for collection or deposit and customary trade arrangements with customers consistent with past practices; (p) advances of payroll payments to employees, consultants or independent contractors or other advances of salaries or compensation to employees, consultants or independent contractors, in each case in the ordinary course of business; (q) Guarantee Obligations of the Borrower or any Subsidiary of leases (other than Capital Leases) or of other obligations that do not constitute Indebtedness, in each case entered into in the ordinary course of business; (r) [reserved]; (s) Investments in Hedging Agreements permitted by Section 10.1; (t) [reserved]; (u) Investments consisting of deposits of cash and Cash Equivalents as collateral support permitted under Section 10.2; (v) [reserved]; (w) [reserved]; (x) Investments consisting of purchases and acquisitions of assets and services in the ordinary course of business; (y) Investments in the ordinary course of business consisting of Article 3 endorsements for collection or deposit and Article 4 customary trade arrangements with customers consistent with past practice;
149 (z) [reserved]; (aa) contributions in connection with compensation arrangements to a “rabbi” trust for the benefit of employees, directors, partners, members, consultants, independent contractors or other service providers or other grantor trust subject to claims of creditors in the case of a bankruptcy of the Borrower or any of its Subsidiaries; (bb) Investments relating to pension trusts; (cc) [reserved]; (dd) [reserved]; (ee) Investments in deposit accounts, commodities and securities accounts opened in the ordinary course of business; (ff) Investments solely to the extent such Investments reflect an increase in the value of Investments otherwise permitted under this Agreement; and (gg) Investments in prepaid expenses, negotiable instruments held for collection and lease, utility and workers compensation, performance and similar deposits entered into as a result of the operations of the business in the ordinary course of business. Notwithstanding the foregoing, no Investment consisting of or resulting from any transfer or other Disposition of any intellectual property by a Credit Party to a Subsidiary that is not a Credit Party may be made except pursuant to (i) Section 10.5(l) (solely in respect of Dispositions permitted by Section 10.4(e) or (g)) or (ii) the proviso to Section 10.5(w). 10.6 Limitation on Restricted Payments The Borrower will not, and will not permit the Subsidiaries to, declare or pay any Restricted Payments except that: (a) [reserved]; (b) [reserved]; (c) the Borrower may make Restricted Payments to Holdings in an amount required for Holdings to pay, in each case without duplication: (i) [reserved]; (ii) (A) Holdings’ general operating expenses incurred in the ordinary course of business and other corporate overhead costs and expenses (including administrative, legal, accounting and similar expenses provided by third parties) to the extent such costs and expenses are attributable to the ownership or operation of the Borrower and its Subsidiaries, or (B) any indemnification claims made by current directors or officers of the Borrower or Holdings (and not, for the avoidance of doubt, any former 150 director or officer of the Borrower or Holdings) to the extent such claims are attributable to the ownership or operation of the Borrower or any Subsidiary; (iii) franchise and excise Taxes and other fees, Taxes and expenses required to maintain the corporate existence of Holdings; (iv) [reserved]; (v) [reserved]; and (vi) customary salary, bonus, severance and other benefits payable to officers, employees or consultants of any direct or indirect parent company of the Borrower to the extent such salaries, bonuses and other benefits are attributable to the ownership or operation of the Borrower and its Subsidiaries; (d) [reserved]; (e) Restricted Payments consisting of or resulting from Liens, fundamental changes, Dispositions, Investments or other payments permitted by 10.2, 10.3 (other than Section 10.3(j)), 10.4 (other than Section 10.4(d)), 10.5 (other than Section 10.5(l)), 10.7 or 10.8, as applicable; (f) [reserved]; (g) [reserved]; (h) [reserved]; (i) [reserved]; (j) [reserved]; (k) [reserved]; (l) the Borrower may make payments described in Section 10.11 (other than Section 10.11(b)); (m) [reserved]; (n) [reserved]; (o) [reserved]; (p) [reserved]; (q) [reserved]; (r) [reserved]; and 151 (s) each Subsidiary may make Restricted Payments to the Borrower and other Subsidiaries of the Borrower (and, in the case of a Restricted Payment by a non-Wholly Owned Subsidiary, to the Borrower and any other Subsidiary, as compared to the other owners of Stock in such Subsidiary, on a pro rata or more than pro rata basis based on their ownership interests of the relevant class of Stock). 10.7 Limitations on Debt Prepayments and Amendments Except as expressly permitted by the terms and conditions set forth in the Orders, the Borrower will not, and will not permit the Subsidiaries to, mandatorily or voluntarily pay or prepay, repurchase or redeem or otherwise defease any Indebtedness of a Debtor that was incurred or arose prior to the filing of the Chapter 11 Cases. 10.8 Limitation on Subsidiary Distributions The Borrower will not, and will not permit any Subsidiary that is not a Guarantor to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or consensual restriction on the ability of any such Subsidiary to (x) (i) pay dividends or make any other distributions to the Borrower or any Subsidiary that is a Guarantor on its Stock or Stock Equivalents or with respect to any other interest or participation in, or measured by, its profits or (ii) pay any Indebtedness owed to the Borrower or any Subsidiary that is a Guarantor, (y) make loans or advances to the Borrower or any Subsidiary that is Guarantor or (z) sell, lease or transfer any of its properties or assets to the Borrower or any Subsidiary that is a Guarantor, except (in each case) for such encumbrances or restrictions existing under or by reason of: (a) contractual encumbrances or restrictions in effect on the Closing Date, including pursuant to this Agreement, documentation in respect of Cash Management Agreements, Existing Hedging Obligations and contractual encumbrances or restrictions in respect of the DIP Term Loan Credit Agreement; (b) purchase money obligations and Capitalized Lease Obligations that impose restrictions of the nature discussed in clause (x), (y) or (z) above on the property so acquired, any replacements of such property or assets and additions and accessions thereto, after-acquired property subject to such arrangement, the proceeds and the products thereof and customary security deposits in respect thereof and in the case of multiple financings of equipment (or assets affixed or appurtenant thereto and additions and accessions) provided by any lender, other equipment (or assets affixed or appurtenant thereto and additions and accessions) financed by such lender (it being understood that such restriction shall not be permitted to apply to any property to which such restriction would not have applied but for such acquisition); (c) Applicable Laws or any applicable rule, regulation or order, or any request of any Governmental Authority having regulatory authority over the Borrower or any of its Subsidiaries; (d) [reserved]; 152 (e) contracts for the sale of assets, including customary restrictions with respect to a Subsidiary of the Borrower pursuant to an agreement that has been entered into for the sale or Disposition of all or substantially all of the Stock or Stock Equivalents or assets of such Subsidiary and restrictions on transfer of assets subject to Liens permitted hereunder; (f) (x) secured Indebtedness otherwise permitted to be incurred pursuant to Sections 10.1 and 10.2 that limit the right of the debtor to Dispose of the assets securing such Indebtedness and (y) restrictions or encumbrances on transfers of assets subject to Liens permitted hereunder (but, with respect to any such Lien, only to the extent that such transfer restrictions apply solely to the assets that are the subject of such Lien); (g) restrictions or encumbrances on cash or other deposits or net worth imposed by customers under, or made necessary or advisable by, contracts entered into in the ordinary course of business; (h) restrictions or encumbrances imposed by other Indebtedness or Disqualified Stock of Subsidiaries permitted to be incurred subsequent to the Closing Date pursuant to the provisions of Section 10.1; (i) customary provisions in joint venture agreements or arrangements and other similar agreements or arrangements relating solely to such joint venture (including its assets and Subsidiaries) and the Stock or Stock Equivalents issued thereby; (j) customary provisions contained in leases, sub-leases, licenses, sub-licenses or similar agreements, in each case, entered into in the ordinary course of business; (k) [reserved]; (l) customary restrictions on leases, subleases, licenses, sublicenses or asset sale agreements otherwise permitted hereby so long as such restrictions relate to property interest, rights or the assets subject thereto; (m) customary provisions restricting assignment or transfer of any agreement entered into in the ordinary course of business; (n) [reserved]; or (o) any encumbrances or restrictions of the type referred to in clauses (x), (y) and (z) above imposed by any amendments, modifications, restatements, renewals, increases, supplements, refundings, extensions, replacements or refinancings of the contracts, instruments or obligations referred to in clauses (a) through (n) above; provided that such amendments, modifications, restatements, renewals, increases, extensions, supplements, refundings, extensions, replacements, restructurings or refinancings (x) are, in the good faith judgment of the Borrower, not materially more restrictive with respect to such encumbrance and other restrictions taken as a whole than those prior to such amendment, modification, restatement, renewal, increase, extension, restructuring, supplement, refunding, replacement or refinancing or (y) do not materially impair the Borrower’s ability to pay its obligations under the Credit Documents as and when due (as determined in good faith by the Borrower);
153 provided that (x) the priority of any preferred stock in receiving dividends or liquidating distributions prior to dividends or liquidating distributions being paid on common stock and (y) the subordination of (including the application of any standstill requirements to) loans or advances made to the Borrower or any Subsidiary that is a Guarantor to other Indebtedness incurred by the Borrower or any Subsidiary that is a Guarantor shall not be deemed to constitute such an encumbrance or restriction. 10.9 Amendment of Organizational Documents The Borrower will not, nor will the Borrower permit any Credit Party to, amend or otherwise modify any of its Organizational Documents in a manner that is materially adverse to the Lenders, except as required by Applicable Laws. 10.10 Permitted Activities and Transfer to Parent Companies Holdings will not engage in any material operating or business activities; provided that the following and any activities incidental thereto shall be permitted in any event: (i) its ownership of the Stock of the Borrower (but no other direct Subsidiaries), including receipt and payment of dividends and payments in respect of Indebtedness and other amounts in respect of Stock, (ii) the maintenance of its legal existence (including the ability to incur and pay, as applicable, fees, costs and expenses and taxes relating to such maintenance), (iii) the performance of its obligations with respect to the Transactions, the Credit Documents and any other documents governing Indebtedness permitted hereby, (iv) [reserved], (v) financing activities, including the issuance of securities, incurrence of debt, receipt and payment of dividends and distributions, making contributions to the capital of the Borrower and guaranteeing the obligations of the Borrower and the Subsidiaries, (vi) if applicable, participating in tax, accounting and other administrative matters as a member of the consolidated group and the provision of administrative and advisory services (including treasury and insurance services) to its Subsidiaries of a type customarily provided by a holding company to its Subsidiaries, (vii) holding any cash or other property (but not operate any property), (viii) making and receiving of any dividends, payments in respect of Indebtedness or Investments permitted hereunder, (ix) providing indemnification to officers and directors, (x) [reserved], (xi) activities related to the consummation of the Transactions and activities contemplated thereby, (xii) [reserved], (xiii) [reserved], (xiv) [reserved], (xv) any transaction with the Borrower or any Subsidiary to the extent expressly permitted under this Section 10, (xvi) [reserved], (xvii) paying any Taxes it is obligated to pay, (xviii) [reserved] and (xix) any activities incidental or reasonably related to the foregoing. 10.11 Transactions with Affiliates The Borrower will not conduct, nor will the Borrower permit any Subsidiary to, enter into any transaction of any kind with any Affiliate of the Borrower, whether or not in the ordinary course of business, other than: (a) transactions (i) between or among Credit Parties, (ii) between or among Subsidiaries that are not Credit Parties or (iii) between a Credit Party and a Subsidiary that is not a Credit Party in the ordinary course of business; 154 (b) transactions permitted by Section 10.5 or Section 10.6 (other than Section 10.6(m)); (c) transactions on terms substantially as favorable to the Borrower or such Subsidiary as would reasonably be obtainable by the Borrower or such Subsidiary at the time in a comparable arm’s-length transaction with a Person other than an Affiliate; (d) [reserved]; (e) (i) employment, consulting and severance arrangements between the Borrower and the Subsidiaries (or any direct or indirect parent of the Borrower) and their respective officers, employees, directors or consultants in the ordinary course of business (including payments, loans and advances in connection therewith) and (ii) issuances of securities, or other payments, awards or grants in cash, securities or otherwise and other transactions pursuant to any equityholder, employee or director equity plan or stock or other equity option plan or any other management or employee benefit plan or agreement, other compensatory arrangement or any stock or other equity subscription, co-invest or equityholder agreement; (f) the payment of customary fees and reasonable out of pocket costs to, and indemnities provided on behalf of, directors, managers, consultants, officers and employees of the Borrower (or, to the extent attributable to the ownership of the Borrower and its Subsidiaries, any direct or indirect parent thereof) and the Subsidiaries of the Borrower; (g) [reserved]; (h) [reserved]; (i) transactions pursuant to permitted agreements in existence on the Closing Date and set forth on Schedule 10.11; (j) [reserved]; (k) [reserved]; or (l) to the extent covered thereby, affiliate transactions authorized or approved pursuant to (i) the Interim Order, and, when applicable, the Final Order, or any First Day Order or (ii) any other order entered by the Bankruptcy Court without the objection of the Administrative Agent or the Required Lenders; provided, for the avoidance of doubt, that such objection need not be filed with the Bankruptcy Court. 10.12 Permitted Variance Subject to the Permitted Variance, permit actual “total receipts” to exceed, or “operating disbursements” to be less than, for any Variance Test Period, total receipts or operating disbursements projected in the Approved Budget for such Variance Test Period to be determined on a bi-weekly basis. 155 10.13 Intercompany Limitations (a) Notwithstanding anything herein to the contrary and without limiting any other covenant contained herein, no credit support, guarantee, cash and/or Cash Equivalents (in each case, including proceeds of the loans made pursuant to the Facilities or the DIP Term Loan Credit Agreement, Cash Collateral (as defined in the Orders) or otherwise), may be transferred or otherwise provided by any Credit Party, directly or indirectly, to or for the benefit of any Subsidiary that is not a Credit Party (either in the form of Restricted Payments, Investments, intercompany advances, guarantee of obligations (including interest thereon) or otherwise (except for repayment of account payables for goods delivered or services rendered, including pursuant to shared services or other intercompany service agreements, in the ordinary course of business, consistent with past practice and subject to the Approved Budget)) other than (A) the issuance of Letters of Credit under the L/C Facility for the benefit of any Subsidiary that is not a Credit Party or (B) if: (i) any such amounts shall be made, (x) first, as an intercompany loan from the applicable Credit Party to Sierra, (y) second, as an intercompany loan from Sierra to the Initial Intercompany Borrower, and (z) third, except as prohibited by local law, as a substantially concurrent unsecured intercompany loan from the Initial Intercompany Borrower to the applicable non-Debtor Subsidiary which is the recipient or beneficiary of the proceeds, credit support or guarantee (the “Non-Debtor Subsidiary Transfer”); and (ii) each Non-Debtor Subsidiary Transfer shall be evidenced by the Foreign Intercompany Note (the “Non-Debtor Subsidiary Notes/Receivables”). All such Non-Debtor Subsidiary Notes/Receivables payable to Sierra shall be pledged by Sierra as Collateral. To the extent the proceeds of such Investment is further transferred, in one or more steps, to another Subsidiary that is not a Debtor, each step of such transfer shall be evidenced by a Foreign Intercompany Note. To the extent that local law limits the implementation of the foregoing and notwithstanding the fact that the Non-Debtor Subsidiary Notes/Receivables shall be unsecured obligations of the applicable non-Debtor Subsidiaries, the Orders shall provide that for all purposes in connection with the Cases (including, without limitation for purposes of creditor recoveries and value allocation in connection with these Cases (including in connection with any chapter 11 plan or otherwise)), all Non-Debtor Subsidiary Notes/Receivables shall be deemed to be secured obligations of the applicable non-Debtor Subsidiaries; the intent being to ensure that no creditor of the Debtors that asserts claims against Subsidiaries that are not Debtors on account of any claim against, obligation of, or transaction with, the Debtors (in respect of asserted joint and several liability or otherwise) unjustly benefits from the funding of Subsidiaries that are not Debtors through the use of proceeds of the Term Facility following the Petition Date. 10.14 Bankruptcy Matters The Credit Parties will not permit, and will not permit any of their respective Subsidiaries to, without the Required Lenders’ prior written consent (unless otherwise specified), do any of the following: 156 (a) use any portion or proceeds of the Credit Extensions or the Collateral for payments or purposes that would violate the terms of the Orders; (b) incur, create, assume, suffer to exist or permit, except for the Carve Out or as otherwise expressly permitted by the Orders or any other order of the Bankruptcy Court reasonably acceptable to the Required Lenders, any other superpriority administrative claim which is pari passu with or senior to the claim of the Secured Parties against any Debtor; (c) subject to the terms of the Orders, assert, join, investigate, support or prosecute any claim or cause of action against any of the Secured Parties (in their capacities as such), unless such claim or cause of action is in connection with the enforcement of the Credit Documents against any of the Secured Parties; (d) other than as provided in any First Day Order or any Order, enter into any agreement to return any of its inventory to any of its creditors for application against any Prepetition Indebtedness, trade payables arising before the Petition Date or other claims arising before the Petition Date under section 546(c) of the Bankruptcy Code if, after giving effect to any such agreement, the aggregate amount applied to Prepetition Indebtedness, trade payables arising before the Petition Date and other claims arising before the Petition Date subject to all such agreements, setoffs and recoupments since the Petition Date would exceed $500,000; (e) seek, consent to, or permit to resist any order granting authority to take any action that is prohibited by the terms of this Agreement, the Orders, the other Credit Documents or refrain from taking any action that is required to be taken by the terms of this Agreement, the Orders or any of the other Credit Documents; (f) subject to the terms of the Orders, object to, contest, delay, prevent or interfere with in any material manner the exercise of rights and remedies by the Agents, the Lenders or other Secured Parties with respect to the Collateral following the occurrence of an Event of Default, including without limitation a motion or petition by any Secured Party to lift an applicable stay of proceedings to do the foregoing (provided that any Debtor may contest or dispute whether an Event of Default has occurred in accordance with the terms of the Orders and the Credit Documents); or (g) make or permit to be made any change to the Orders. 10.15 Financial Covenant (a) Minimum Liquidity. The Borrower shall not permit the Consolidated Liquidity on the last Business Day of each month ending after the Final Order Entry Date to be less than $250,000,000. SECTION 11 Events of Default Upon the occurrence of any of the following specified events (each an “Event of Default”):
157 11.1 Payments The Borrower shall (a) default in the payment when due of any principal of the Loans, (b) default, and such default shall continue for more than two Business Days, in the payment when due of any interest on the Loans or (c) default, and such default shall continue for more than five Business Days, in the payment when due of any fees or any other amounts owing hereunder or under any other Credit Document; or 11.2 Representations, Etc. Any representation, warranty or statement made or deemed made by any Credit Party herein or in any other Credit Document or any certificate delivered or required to be delivered pursuant hereto or thereto shall prove to be materially untrue on the date as of which made or deemed made; or 11.3 Covenants Any Credit Party shall: (a) default in the due performance or observance by it of any term, covenant or agreement contained in Section 9.1(f)(i) (provided that notice of such default at any time shall timely cure the failure to provide such notice), Section 9.5 (solely with respect to the Borrower) or Section 10; or (b) default in the due performance or observance by it of any term, covenant or agreement contained in (i) Section 9.1(k) and such default shall continue unremedied for a period of at least five Business Days after receipt of written notice by the Borrower from the Administrative Agent (or, if such Borrowing Base Certificate is required to be delivered during a Weekly Monitoring Period, at least two Business Days after receipt of written notice by the Borrower from the Administrative Agent) or (ii) Section 9.18 (other than any such failure resulting solely from actions taken by one or more Persons not controlled directly or indirectly by the Borrower or such Person’s (or Persons’) failure to act in accordance with the instructions of the Borrower or the Administrative Agent) and, unless a Cash Dominion Period is ongoing, such default shall continue unremedied for a period of five Business Days after receipt of written notice by the Borrower of the Administrative Agent; or (c) default in the due performance or observance by it of any term, covenant or agreement (other than those referred to in Section 11.1 or 11.2 or clause (a) or (b) of this Section 11.3) contained in this Agreement or any other Credit Document and such default shall continue unremedied for a period of at least 15 calendar days after receipt of written notice by the Borrower from the Administrative Agent; or 11.4 Default Under Other Agreements The Borrower or any Subsidiary shall (i) default in any payment with respect to any Indebtedness (other than any Indebtedness described in Section 11.1 or Hedging Obligations) in excess of $10,000,000 in the aggregate for the Borrower and such Subsidiaries beyond the period of grace or cure and following all required notices, if any, provided in the instrument or agreement 158 under which such Indebtedness was created or (ii) default in the observance or performance of any agreement or condition relating to any such Indebtedness or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event shall occur or condition exist (other than any agreement or condition relating to, or provided in any instrument or agreement, under which such Hedging Obligations were created) beyond the period of grace or cure and following all required notices, if any, provided in the instrument or agreement under which such Indebtedness was created, if the effect of which default or other event or condition is to cause, or to permit the holder or holders of such Indebtedness (or a trustee or agent on behalf of such holder or holders) to cause, any such Indebtedness to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its Stated Maturity; or (b) without limiting the provisions of clause (a) above, any such Indebtedness shall be declared to be due and payable, or required to be prepaid other than by a regularly scheduled required prepayment (other than any Hedging Obligations) or as a mandatory prepayment, prior to the Stated Maturity thereof; provided that clauses (a) and (b) above shall not apply to secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness, if such sale or transfer is permitted hereunder and under the documents providing for such Indebtedness; provided, further, that this Section 11.4 shall not apply to (i) any Indebtedness if the sole remedy of the holder thereof following such event or condition is to elect to convert such Indebtedness into Stock or Stock Equivalents (other than Disqualified Stock) and cash in lieu of fractional shares, (ii) any such default that is remedied by or waived (including in the form of amendment) by the requisite holders of the applicable item of Indebtedness or contested in good faith by the Borrower or the applicable Subsidiary in either case, prior to acceleration of all the Loans and termination of the Revolving Credit Commitments pursuant to this Section 11, (iii) any Indebtedness outstanding hereunder or (iv) any Indebtedness of any Debtor that was incurred prior to the Petition Date unless such Indebtedness has been accelerated and the enforcement of remedies with respect to such Indebtedness shall not have been stayed by the commencement of the Chapter 11 Cases; or 11.5 Bankruptcy (a) An involuntary proceeding shall be commenced or a voluntary or involuntary petition shall be filed in a court of competent jurisdiction seeking (1) relief in respect of any Domestic Subsidiary that did not become a Debtor on the Petition Date, or of a substantial part of the assets of any Domestic Subsidiary that did not become a Debtor on the Petition Date, under the Bankruptcy Code (unless (A) prior to the commencement of such case such Domestic Subsidiary becomes a Credit Party hereunder, (B) within five (5) Business Days after the commencement of such case, such Subsidiary’s case becomes jointly administered with the Chapter 11 Cases and (C) each of the Interim Order and/or Final Order (as applicable) are made applicable to such Subsidiary as a post-petition Guarantor hereunder, (2) the appointment of a receiver, trustee, custodian, conservator or similar official for any material Foreign Subsidiary, or (3) the winding-up or liquidation of any material Foreign Subsidiary; provided that in the case of any of the foregoing with respect to any such Foreign Subsidiary, an Event of Default pursuant to this Section 11.5 shall only be deemed to occur if such occurrence shall result (or would reasonably be expected to result) in a Material Adverse Effect; or (b) any ancillary insolvency proceeding in any applicable foreign jurisdiction shall be commenced against any Debtor or any recognition, administrative, and substantive order shall be entered against any Debtor by the applicable court 159 (other than a proceeding that would not reasonably be expected to result in a Material Adverse Effect or cause a material delay of the Chapter 11 Cases), in each case without prior consent of the Required Lenders or on terms not satisfactory to the Required Lenders; or 11.6 ERISA The occurrence of any ERISA Event, which would be reasonably likely to have a Material Adverse Effect; or 11.7 Guarantee Any Guarantee provided by Holdings, the Borrower or any Subsidiary or any material provision thereof shall cease to be in full force or effect (other than pursuant to the terms hereof or thereof) or any such Guarantor thereunder or any other Credit Party shall deny or disaffirm in writing any such Guarantor’s obligations under the Guarantee; or 11.8 Security Agreement The Security Agreement or any other material Security Document pursuant to which the assets of any Credit Party are pledged as Collateral or any material provision thereof shall cease to be in full force or effect in respect of a material portion of the Collateral (other than pursuant to the terms hereof or thereof or any defect arising as a result of acts or omissions of the Collateral Agent or any Lender which do not result from a material breach by a Credit Party of its obligations under the Credit Documents) or any grantor thereunder or any other Credit Party shall deny or disaffirm in writing such grantor’s obligations under the Security Agreement or any other such Security Document; or 11.9 Judgments One or more final judgments or decrees shall be entered against the Borrower or any Subsidiary (excluding any First Day Order or any order fixing the amount of any claim in the Chapter 11 Cases) involving a liability requiring the payment of $10,000,000 or more in the aggregate for all such final judgments and decrees for the Borrower and the Subsidiaries (to the extent not paid or covered by indemnity or insurance provided by a carrier that has not denied coverage) (and in the case of such a judgment against any of the Debtors, such judgment arose post-petition) and any such final judgments or decrees shall not have been satisfied, vacated, discharged or stayed (including pursuant to the Bankruptcy Code) or bonded pending appeal within 30 consecutive days after the entry thereof; or 11.10 Change of Control A Change of Control shall occur; or 11.11 Dismissal; Conversion (i) Any of the Chapter 11 Cases of the Debtors shall be dismissed or converted to a case under chapter 7 of the Bankruptcy Code or any Debtors shall file a motion or other pleading seeking the dismissal of any of Chapter 11 Case of any Debtor under section 1112 of the 160 Bankruptcy Code or otherwise without causing Payment in Full of all Obligations hereunder or (ii) a trustee under chapter 11 of the Bankruptcy Code or an examiner with enlarged powers (powers beyond those set forth in sections 1106(a)(3) and (4) of the Bankruptcy Code) under section 1104(b) of the Bankruptcy Code shall be appointed in any of the Chapter 11 Cases of the Debtors and the order appointing such trustee or examiner shall not be reversed or vacated within thirty (30) days after the entry thereof (or the Credit Parties or their Affiliates shall have acquiesced to the entry of such order) unless consented to by the Required Lenders; or 11.12 Superpriority Claims Other than as permitted by the Orders, an application shall be filed by any Debtor for the approval of (i) any other Superpriority Claim or Lien, or an order of the Bankruptcy Court shall be entered granting any other than Superpriority Claim or Lien (other than the Carve Out), in any of the Chapter 11 Cases of the Debtors that is pari passu with or senior to the claims (as such word is defined in the Bankruptcy Code) or Liens of the Administrative Agent, the Lenders and the other Secured Parties against the Borrower or any other Credit Party hereunder or under any of the other Credit Documents (including the adequate protection Liens and claims provided for in the Orders) or (ii) any Liens senior or pari passu with (A) the Liens under the Prepetition First Lien Debt or (B) the adequate protection Liens granted on account of the Primed Liens; or 11.13 Stay Relief The Bankruptcy Court shall enter an order or orders granting relief from the automatic stay applicable under section 362 of the Bankruptcy Code to the holder or holders of any security interest to (i) permit foreclosure (or the granting of a deed in lieu of foreclosure or the like) on any assets of any of the Debtors which have a value in excess of $1,000,000 in the aggregate or (ii) permit other actions that would have a Material Adverse Effect on the Debtors or their estates (taken as a whole); or 11.14 Orders; Actions Subject to the last paragraph of Section 11 in all respects, (i) the Final Order Entry Date shall not have occurred by the date that is forty-five (45) days following the Petition Date; (ii) an order of the Bankruptcy Court shall be entered reversing, amending, supplementing, staying, vacating or otherwise amending, supplementing or modifying the Interim Order or the Final Order or Holdings, the Borrower or any Subsidiary of the Borrower shall apply for the authority to do so, in each case in a manner that is adverse in any respect to the Administrative Agent or the Lenders, without the prior written consent of the Administrative Agent and the Required Lenders; (iii) an order of the Bankruptcy Court shall be entered denying or terminating use of Cash Collateral by the Credit Parties or imposing any additional conditions on such use (and such order remains unstayed for more than three (3) Business Days) and the Credit Parties shall have not obtained use of Cash Collateral pursuant to an order consented to by, and in form and substance reasonably acceptable to, the Administrative Agent; (iv) the Interim Order (prior to the entry of the Final Order) or Final Order (at all times thereafter) shall cease to create a valid and perfected Lien on the Collateral described therein or the Final Order shall cease to be in full force and effect; (v) any of the Credit Parties or any Subsidiary of the Borrower shall fail to comply with the Orders in any material respect; (vi) other than with respect to the Carve Out (as provided for in Section
161 2.19), an order in the Chapter 11 Cases shall be entered (without the consent of the Administrative Agent and the Required Lenders) charging any of the Collateral under section 506(c) of the Bankruptcy Code against the Lenders; (vii) the Final Order shall not authorize the borrowing by the Borrower of the full amount of the Commitments provided for hereunder; (viii) the entry of an order in the Chapter 11 Cases authorizing the use Cash Collateral or obtaining of financing pursuant to section 364 of the Bankruptcy Code (other than the DIP Term Loan Credit Agreement or the Facilities, if any), unless such financing would (and actually does) provide for Payment in Full of all Obligations upon the consummation thereof; (ix) any order shall be entered in the Chapter 11 Cases providing adequate protection, other than the Interim Order or Final Order (as applicable) or pursuant to any First Day Order or “second day order” or any other order reasonably acceptable to the Administrative Agent or as otherwise permitted pursuant to Section 11.12; or (x) the Borrower or any of its Subsidiaries shall take any action in support of the items referred to in the foregoing clauses (i)-(ix); or 11.15 Prepetition Payments Except as permitted by the Orders, any Debtor shall make any Prepetition Payment other than Prepetition Payments (i) authorized by the Bankruptcy Court in accordance with the First Day Orders or “second day orders” of the Bankruptcy Court reasonably satisfactory to the Administrative Agent or (ii) as set forth under the Approved Budget; or 11.16 [Reserved] 11.17 Reorganization Plan A Reorganization Plan that is not the Plan shall be confirmed in any of the Chapter 11 Cases of the Debtors, or any of the Credit Parties or any of their Subsidiaries shall file, propose, support or fail to contest in good faith the filing or confirmation of any such plan or entry of any such order; or 11.18 Supporting Actions Any Credit Party or any of their Subsidiaries shall file any pleading with the Bankruptcy Court in support of any matter set forth in Sections 11.1, 11.12, 11.13, 11.14, 11.5 or 11.17; or 11.19 Sale Motions The Borrower shall file (or fail to oppose) any motion seeking an order authorizing the sale of all or substantially all of the assets of the Credit Parties; or 162 11.20 [Reserved] 11.21 [Reserved] 11.22 Adverse Orders Solely with respect to the Facilities, any order is entered by the Bankruptcy Court sustaining any objection or challenge of any kind or nature to the validity, priority, or amount of the Liens with created pursuant to the Credit Documents in favor of or claims held by, or an action to recharacterize or subordinate any Agent or any Lender; then, and in any such event, and at any time thereafter, if any Event of Default shall then be continuing, the Administrative Agent shall, at the written request of the Required Lenders, by written notice to the Borrower, take any or all of the following actions (subject to the terms of the Orders), without prejudice to the rights of the Administrative Agent or any Lender to enforce its claims against the Borrower, except as otherwise specifically provided for in this Agreement: (i) declare the Revolving Credit Commitments terminated, whereupon the Revolving Credit Commitment, if any, of each Lender shall forthwith terminate immediately and any fees theretofore accrued shall forthwith become due and payable without any other notice of any kind; (ii) declare the principal of and any accrued interest and fees in respect of any or all Loans and any or all Obligations owing hereunder and under any other Credit Document to be, whereupon the same shall become, forthwith due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower; (iii) terminate any Letter of Credit that may be terminated in accordance with its terms; (iv) direct the Collateral Agent to enforce any and all Liens and security interests created pursuant to the Security Documents and (v) enforce any and all of the Administrative Agent’s rights under the Guarantees. Notwithstanding anything to the contrary contained herein, any Event of Default under this Agreement or similarly defined term under any other Credit Document, other than any Event of Default which cannot be waived without the written consent of each Lender directly and adversely affected thereby, shall be deemed not to be “continuing” if the events, act or condition that gave rise to such Event of Default have been remedied or cured (including by payment, notice, taking of any action or omitting to take any action) or have ceased to exist and the Borrower is in compliance with this Agreement and/or such other Credit Document. 11.23 Application of Proceeds Any amount received by the Administrative Agent or the Collateral Agent from any Credit Party (or from proceeds of any Collateral), in each case, following any acceleration of the Obligations under this Agreement or any Event of Default under Section 11.5 shall be applied in accordance with the ABL Intercreditor Agreement and the Orders, but subject and subordinate to the Carve Out in all respects, including with respect to amounts received to be funded into the Carve Out Reserve. In the event that either (x) the ABL Intercreditor Agreement or the Orders directs the application with respect to such amount be made with reference to this Agreement or the Other Credit Documents or (y) the ABL Intercreditor Agreement or the Orders are no longer in effect that is applicable to such amount, any amount received by the Administrative Agent or the Collateral Agent from any Credit Party (or from proceeds of any Collateral), in each case, 163 following any acceleration of the Obligations under this Agreement or any Event of Default under Section 11.5 shall be applied: (i) First, to the payment of all reasonable costs and expenses, fees, commissions and taxes of such sale, collection or other realization, including compensation to the Administrative Agent, Collateral Agent and their agents and counsel, and all expenses, liabilities and advances made or incurred by the Administrative Agent and Collateral Agent in connection therewith and all amounts for which the Administrative Agent and Collateral Agent is entitled to indemnification pursuant to the provisions of any Credit Document, together with interest on each such amount at the highest rate then in effect under this Agreement from and after the date such amount is due, owing or unpaid, in each case constituting Obligations, until paid in full; (ii) Second, to the repayment of all Protective Advances; (iii) Third, to the payment of all other reasonable costs and expenses of such sale, collection or other realization including all costs, liabilities and advances made or incurred by the other Secured Parties in connection therewith, together with interest on each such amount at the highest rate then in effect under this Agreement from and after the date such amount is due, owing or unpaid, in each case constituting Obligations, until paid in full; (iv) Fourth, without duplication of amounts applied pursuant to clauses (i) - (iii) above, to the indefeasible payment in full in cash, pro rata, of interest and other amounts constituting Obligations (other than principal or premium or reimbursement obligations in respect of Letters of Credit and obligations to L/C Cash Collateralize Letters of Credit) and any fees, premiums and scheduled periodic payments due under Secured Hedging Agreement (to the extent Hedging Reserves have been taken) and Secured Cash Management Agreements (to the extent Bank Product Reserves have been taken) to the extent constituting Obligations and any interest accrued thereon (excluding any breakage, termination or other payments thereunder), in each case equally and ratably in accordance with the respective amounts thereof then due and owing; (v) Fifth, to the payment in full in cash, pro rata, of principal amount of the Obligations (including in respect of Secured Hedging Agreements (to the extent Hedging Reserves have been taken) and Secured Cash Management Agreements (to the extent Bank Product Reserves have been taken)) and to L/C Cash Collateralize all L/C Obligations and any premium thereon and any breakage, termination or other payments under Secured Hedging Agreements (to the extent Hedging Reserves have been taken) or Secured Cash Management Agreements (to the extent Bank Product Reserves have been taken), in each case to the extent constituting Obligations; (vi) Sixth, without duplication of amounts applied pursuant to clauses (i) - (v) above, to the indefeasible payment in full in cash, pro rata, of interest and other amounts constituting Obligations and any fees, premiums and scheduled periodic payments, in each case due under Secured Hedging Agreements (other than those described in clause (iv) above) and Secured Cash Management Agreements (other than those 164 described in clause (iv) above) to the extent constituting Obligations and any interest accrued thereon (excluding any breakage, termination or other payments thereunder), in each case equally and ratably in accordance with the respective amounts thereof then due and owing; (vii) Seventh, to the payment in full in cash, pro rata, of principal amount of the Obligations and any breakage, termination or other payments under Secured Hedging Agreements (other than those described in clause (v) above) or Secured Cash Management Agreements (other than those described in clause (v) above), in each case to the extent constituting Obligations; (viii) Eighth, without duplication of amounts applied pursuant to clauses (i) - (vii) above, to the indefeasible payment in full in cash, pro rata, of interest and other amounts constituting Obligations and any fees, premiums and scheduled periodic payments, in each case due under Secured Specified Hedging Agreements and Secured Specified Cash Management Agreements to the extent constituting Obligations and any interest accrued thereon (excluding any breakage, termination or other payments thereunder), in each case equally and ratably in accordance with the respective amounts thereof then due and owing; (ix) Ninth, to the payment in full in cash, pro rata, of principal amount of the Obligations and any breakage, termination or other payments under Secured Specified Hedging Agreements or Secured Specified Cash Management Agreements, in each case to the extent constituting Obligations; and (x) Tenth, the balance, if any, to the person lawfully entitled thereto (including the applicable Credit Party or its successors or assigns) or as a court of competent jurisdiction may direct. Notwithstanding the foregoing, amounts received from any Credit Party shall not be applied to any Excluded Swap Obligation of such Credit Party. SECTION 12 The Agents 12.1 Appointment (a) Each Secured Party (other than the Administrative Agent) hereby irrevocably designates and appoints the Administrative Agent as the agent of such Secured Party under this Agreement and the other Credit Documents and irrevocably authorizes the Administrative Agent, in such capacity, to take such action on its behalf under the provisions of this Agreement and the other Credit Documents and to exercise such powers and perform such duties as are expressly delegated to the Administrative Agent by the terms of this Agreement and the other Credit Documents, together with such other powers as are reasonably incidental thereto. The provisions of this Section 12 (other than this Section 12.1 and Sections 12.2, 12.9, 12.12 and 12.13, in each case, with respect to the Borrower) are solely for the benefit of the Agents and the other Secured Parties, and the Borrower shall not have any rights as a third party beneficiary of such provision. Notwithstanding any provision to the contrary elsewhere in this Agreement, no Agent shall have any duties or responsibilities, except those expressly set forth herein or in any
165 other Credit Document, any fiduciary relationship with any other Secured Party or any agency or trust obligations with respect to any Credit Party, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Credit Document or otherwise exist against such Agent. (b) The Secured Parties hereby irrevocably designate and appoint the Collateral Agent as the agent with respect to the Collateral, and each of the Secured Parties hereby irrevocably authorizes the Collateral Agent, in such capacity, to take such action on its behalf under the provisions of this Agreement and the other Credit Documents and to exercise such powers and perform such duties as are expressly delegated to the Collateral Agent by the terms of this Agreement and the other Credit Documents, together with such other powers as are reasonably incidental thereto. Notwithstanding any provision to the contrary elsewhere in this Agreement, the Collateral Agent shall have no duties or responsibilities except those expressly set forth herein or in any other Credit Document, any fiduciary relationship with any of the other Secured Parties or any agency or trust obligations with respect to any Credit Party, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Credit Document or otherwise exist against the Collateral Agent. (c) Each of the Global Coordinator listed on the cover page of this agreement and the Joint Lead Arrangers, in their capacities as such, shall not have any obligations, duties or responsibilities under this Agreement but shall be entitled to all benefits of this Section 12. 12.2 Delegation of Duties The Administrative Agent and the Collateral Agent may each execute any of its duties under this Agreement and the other Credit Documents by or through agents, sub-agents, employees or attorneys-in-fact and shall be entitled to advice of counsel concerning all matters pertaining to such duties. Neither the Administrative Agent nor the Collateral Agent shall be responsible for the negligence or misconduct of any agents, sub-agents or attorneys-in-fact selected by it in the absence of gross negligence or willful misconduct by such agents, sub-agents or attorneys-in-fact (as determined in the final judgment of a court of competent jurisdiction). 12.3 Exculpatory Provisions (a) No Agent nor any of its officers, directors, employees, agents, attorneys-in- fact or Affiliates shall be (a) liable for any action lawfully taken or omitted to be taken by any of them under or in connection with this Agreement or any other Credit Document (except for its or such Person’s own gross negligence or willful misconduct, as determined in the final judgment of a court of competent jurisdiction, in connection with its duties expressly set forth herein) or (b) responsible in any manner to any of the Lenders or any participant for any recitals, statements, representations or warranties made by any of Holdings, the Borrower, any other Guarantor, any other Credit Party or any officer thereof contained in this Agreement or any other Credit Document or in any certificate, report, statement or other document referred to or provided for in, or received by such Agent under or in connection with, this Agreement or any other Credit Document or for the value, validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Credit Document, or the perfection or priority of any Lien or security interest created or purported to be created under the Security Documents, or for any failure of Holdings, the 166 Borrower, any other Guarantor or any other Credit Party to perform its obligations hereunder or thereunder. No Agent shall be under any obligation to any other Secured Party to ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other Credit Document, or to inspect the properties, books or records of any Credit Party or any Affiliate thereof. (b) Each Lender confirms to the Administrative Agent, the Collateral Agent, each other Lender and each of their respective Related Parties that it (i) possesses (individually or through its Related Parties) such knowledge and experience in financial and business matters that it is capable, without reliance on the Administrative Agent, the Collateral Agent, any other Lender or any of their respective Related Parties, of evaluating the merits and risks (including tax, legal, regulatory, credit, accounting and other financial matters) of (x) entering into this Agreement, (y) making Loans and other Credit Extensions hereunder and under the other Credit Documents and (z) in taking or not taking actions hereunder and thereunder, (ii) is financially able to bear such risks and (iii) has determined that entering into this Agreement and making Loans and other Credit Extensions hereunder and under the other Credit Documents is suitable and appropriate for it. (c) Each Lender acknowledges that (i) it is solely responsible for making its own independent appraisal and investigation of all risks arising under or in connection with this Agreement and the other Credit Documents, (ii) that it has, independently and without reliance upon the Administrative Agent, the Collateral Agent, any other Lender or any of their respective Related Parties, made its own appraisal and investigation of all risks associated with, and its own credit analysis and decision to enter into, this Agreement based on such documents and information, as it has deemed appropriate and (iii) it will, independently and without reliance upon the Administrative Agent, the Collateral Agent, any other Lender or any of their respective Related Parties, continue to be solely responsible for making its own appraisal and investigation of all risks arising under or in connection with, and its own credit analysis and decision to take or not take action under, this Agreement and the other Credit Documents based on such documents and information as it shall from time to time deem appropriate, which may include, in each case: (i) the financial condition, status and capitalization of the Borrower and each other Credit Party; (ii) the legality, validity, effectiveness, adequacy or enforceability of this Agreement and each other Credit Document and any other agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection with any Credit Document; (iii) determining compliance or non-compliance with any condition hereunder to the making of a Loan or the issuance of a Letter of Credit and the form and substance of all evidence delivered in connection with establishing the satisfaction of each such condition; and (iv) the adequacy, accuracy and/or completeness of any information delivered by the Administrative Agent, the Collateral Agent, any other Lender or by any of their respective Related Parties under or in connection with this Agreement or any other Credit Document, the transactions contemplated hereby and thereby or any other 167 agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection with any Credit Document. 12.4 Reliance by Agents The Administrative Agent and the Collateral Agent shall be entitled to rely, and shall be fully protected in relying, upon any writing, resolution, notice, consent, certificate, affidavit, letter, telecopy, telex, electronic mail, or teletype message, statement, order or other document or instruction believed by it in good faith to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including counsel to Holdings and/or the Borrower), independent accountants and other experts selected by the Administrative Agent or the Collateral Agent. The Administrative Agent may deem and treat the Lender specified in the Register with respect to any amount owing hereunder as the owner thereof for all purposes unless a written notice of assignment, negotiation or transfer thereof shall have been filed with the Administrative Agent. The Administrative Agent and the Collateral Agent shall be fully justified in failing or refusing to take any action under this Agreement or any other Credit Document unless it shall first receive such advice or concurrence of the Required Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense that may be incurred by it by reason of taking or continuing to take any such action. The Administrative Agent and the Collateral Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Credit Documents in accordance with a request of the Required Lenders, and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders and all future holders of the Loans; provided that none of the Administrative Agent or the Collateral Agent shall be required to take any action that, in its opinion or in the opinion of its counsel, may expose it to liability or that is contrary to any Credit Document or Applicable Law. 12.5 Notice of Default Neither the Administrative Agent nor the Collateral Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default hereunder unless the Administrative Agent or the Collateral Agent, as applicable, has received written notice from a Lender, Holdings or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that the Administrative Agent or the Collateral Agent receives such a notice, it shall give notice thereof to the Lenders, the Administrative Agent or the Collateral Agent, as applicable. The Administrative Agent and the Collateral Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders; provided that unless and until the Administrative Agent or the Collateral Agent, as applicable, shall have received such directions, the Administrative Agent or the Collateral Agent, as applicable, may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as is within its authority to take under this Agreement and otherwise as it shall deem advisable in the best interests of the Lenders except to the extent that this Agreement requires that such action be taken only with the approval of the Required Lenders or each of the Lenders, as applicable. 168 12.6 Non-Reliance on Administrative Agent, Collateral Agent and Other Lenders Each Lender expressly acknowledges that none of the Administrative Agent, the Collateral Agent, the Joint Lead Arrangers or any of their respective officers, directors, employees, agents, attorneys-in-fact or Affiliates has made any representations or warranties to it and that no act by the Administrative Agent, the Collateral Agent or any of the Joint Lead Arrangers hereinafter taken, including any review of the affairs of Holdings, the Borrower, any other Guarantor or any other Credit Party, shall be deemed to constitute any representation or warranty by the Administrative Agent, the Collateral Agent or any Joint Lead Arranger to any Lender or the L/C Issuer. Each Lender and the L/C Issuer represents to Administrative Agent, the Collateral Agent and the Joint Lead Arrangers that it has, independently and without reliance upon the Administrative Agent, Collateral Agent or any other Lender, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness of Holdings, the Borrower, each other Guarantor and each other Credit Party and made its own decision to make its Loans hereunder and enter into this Agreement. Each Lender also represents that it will, independently and without reliance upon the Administrative Agent, Collateral Agent, any Joint Lead Arranger or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Credit Documents, and to make such investigation as it deems necessary to inform itself as to the business, operations, property, financial and other condition and creditworthiness of Holdings, the Borrower, each other Guarantor and each other Credit Party. Except for notices, reports and other documents expressly required to be furnished to the Lenders by the Administrative Agent hereunder, none of the Administrative Agent, the Collateral Agent or any Joint Lead Arranger shall have any duty or responsibility to provide any Lender with any credit or other information concerning the business, assets, operations, properties, financial condition, prospects or creditworthiness of Holdings, the Borrower, any other Guarantor or any other Credit Party that may come into the possession of the Administrative Agent, the Collateral Agent, any Joint Lead Arranger or any of their respective officers, directors, employees, agents, attorneys-in-fact or Affiliates. 12.7 Indemnification The Lenders agree to indemnify each Agent, each in its capacity as such (to the extent not reimbursed by the Credit Parties and without limiting the obligation of the Credit Parties to do so), ratably according to their respective portions of the Revolving Credit Exposure in effect on the date on which indemnification is sought (or, if indemnification is sought after the date upon which the Aggregate Revolving Credit Commitments shall have terminated and the Loans shall have been paid in full, ratably in accordance with their respective portions of the Revolving Credit Exposure in effect immediately prior to such date), from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind whatsoever that may at any time occur (including at any time following the payment of the Loans) be imposed on, incurred by or asserted against such Agent, including all fees, disbursements and other charges of counsel to the extent required to be reimbursed by the Credit Parties pursuant to Section 13.5, in any way relating to or arising out of the Revolving Credit Commitments, the Loans and Letters of Credit, this Agreement, any of the other Credit Documents
169 or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby or any action taken or omitted by such Agent under or in connection with any of the foregoing (SUBJECT TO THE PROVISOS BELOW, WHETHER OR NOT CAUSED BY OR ARISING IN WHOLE OR IN PART, OUT OF THE COMPARATIVE, CONTRIBUTORY OR SOLE ORDINARY NEGLIGENCE OF THE INDEMNIFIED PERSON); provided that no Lender shall be liable to any Agent for the payment of any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements resulting from such Agent’s gross negligence or willful misconduct as determined by a final judgment of a court of competent jurisdiction; provided, further, that no action taken in accordance with the directions of the Required Lenders (or such other number or percentage of the Lenders as shall be required by the Credit Documents) shall be deemed to constitute gross negligence or willful misconduct for purposes of this Section 12.7. In the case of any investigation, litigation or proceeding giving rise to any liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind whatsoever that may at any time occur, be imposed upon, incurred by or asserted against the Administrative Agent or the Collateral Agent in any way relating to or arising out of the Revolving Credit Commitments, the Loans and Letters of Credit, this Agreement, any of the other Credit Documents or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby or any action taken or omitted by such Agent under or in connection with any of the foregoing (including at any time following the payment of the Loans), this Section 12.7 applies whether any such investigation, litigation or proceeding is brought by any Lender or any other Person. Without limitation of the foregoing, each Lender shall reimburse such Agent upon demand for its ratable share of any costs or out-of-pocket expenses (including attorneys’ fees) incurred by such Agent in connection with the preparation, execution, delivery, administration, modification, amendment or enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice rendered in respect of rights or responsibilities under, this Agreement, any other Credit Document, or any document contemplated by or referred to herein, to the extent that such Agent is not reimbursed for such expenses by or on behalf of the Borrower; provided that such reimbursement by the Lenders shall not affect the Borrower’s continuing reimbursement obligations with respect thereto. If any indemnity furnished to any Agent for any purpose shall, in the opinion of such Agent, be insufficient or become impaired, such Agent may call for additional indemnity and cease, or not commence, to do the acts indemnified against until such additional indemnity is furnished; provided that in no event shall this sentence require any Lender to indemnify any Agent against any liability, obligation, loss, damage, penalty, action, judgment, suit, cost, expense or disbursement in excess of such Lender’s pro rata portion thereof; and provided, further, this sentence shall not be deemed to require any Lender to indemnify any Agent against any liability, obligation, loss, damage, penalty, action, judgment, suit, cost, expense or disbursement resulting from such Agent’s gross negligence or willful misconduct (as determined by a final judgment of court of competent jurisdiction). The agreements in this Section 12.7 shall survive the payment of the Loans and all other amounts payable hereunder. 12.8 Agents in their Individual Capacities Each Agent and its Affiliates may make loans to, accept deposits from and generally engage in any kind of business with Holdings, the Borrower, any other Guarantor, and any other Credit Party as though such Agent were not an Agent hereunder and under the other 170 Credit Documents. With respect to the Loans made by it, each Agent shall have the same rights and powers under this Agreement and the other Credit Documents as any Lender and may exercise the same as though it were not an Agent, and the terms “Lender” and “Lenders” shall include each Agent in its individual capacity. 12.9 Successor Agents Each of the Administrative Agent and Collateral Agent may resign at any time by notifying the other Agent, the Lenders, the L/C Issuers and the Borrower. Upon receipt of any such notice of resignation, the Required Lenders shall have the right, subject to the consent of the Borrower (not to be unreasonably withheld or delayed) so long as no Event of Default under Section 11.1 or 11.5 (solely with respect to the Borrower) has occurred and is continuing, to appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of any such bank with an office in the United States. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Agent gives notice of its resignation, then the retiring Agent may on behalf of the Lenders and the L/C Issuers, appoint a successor Agent meeting the qualifications set forth above (including receipt of the Borrower’s consent); provided that if such Agent shall notify the Borrower and the Lenders that no qualifying Person (including as a result of the absence of consent of the Borrower) has accepted such appointment, then such resignation shall nonetheless become effective in accordance with such notice and (x) the retiring Agent shall be discharged from its duties and obligations hereunder and under the other Credit Documents (except that in the case of any collateral security held by the Collateral Agent on behalf of the Secured Parties under any of the Credit Documents, the retiring Collateral Agent shall continue to hold such collateral security until such time as a successor Collateral Agent is appointed) and (y) all payments, communications and determinations provided to be made by, to or through such Agent shall instead be made by or to each Lender and the L/C Issuer directly, until such time as the Required Lenders with (except after the occurrence and during the continuation of an Event of Default under Section 11.1 or 11.5 (solely with respect to the Borrower)) the consent of the Borrower (not to be unreasonably withheld) appoint successor Agents as provided for above in this paragraph. Upon the acceptance of a successor’s appointment as the Administrative Agent or Collateral Agent, as the case may be, hereunder, and upon the execution and filing or recording of such financing statements, or amendments thereto, and such amendments or supplements to the Mortgages, and such other instruments or notices, as may be necessary or desirable, or as the Required Lenders may request, in order to continue the perfection of the Liens granted or purported to be granted by the Security Documents, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired) Agent, and the retiring Agent shall be discharged from all of its duties and obligations hereunder or under the other Credit Documents (if not already discharged therefrom as provided above in this Section). The fees payable by the Borrower (following the effectiveness of such appointment) to such Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the retiring Agent’s resignation hereunder and under the other Credit Documents, the provisions of this Section 12 (including Section 12.7) and Section 13.5 shall continue in effect for the benefit of such retiring Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while the retiring Agent was acting as an Agent. 171 12.10 Withholding Tax To the extent required by any Applicable Law, the Administrative Agent may withhold from any interest payment to any Lender an amount equivalent to any applicable withholding Tax. If the Internal Revenue Service or any authority of the United States or other jurisdiction asserts a claim that the Administrative Agent did not properly withhold Tax from amounts paid to or for the account of any Lender (because the appropriate form was not delivered, was not properly executed, or because such Lender failed to notify the Administrative Agent or of a change in circumstances that rendered the exemption from, or reduction of, withholding Tax ineffective, or for any other reason), such Lender shall indemnify the Administrative Agent (to the extent that the Administrative Agent has not already been reimbursed by the Borrower (solely to the extent required by this Agreement) and without limiting the obligation of the Borrower to do so) fully for all amounts paid, directly or indirectly, by the Administrative Agent as Tax or otherwise, including penalties and interest, together with all expenses incurred, including legal expenses, allocated staff costs and any out of pocket expenses. 12.11 Administrative Agent May File Proofs of Claim In case of the pendency of any receivership, insolvency, liquidation, administration, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to any Credit Party, the Administrative Agent (irrespective of whether the principal of any Loan shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and empowered, by intervention in such proceeding or otherwise: (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 and to file such other documents as may be necessary or advisable in order to have the claims of the Secured Parties (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders and the Administrative Agent hereunder) 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 Secured Party to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the Secured Parties, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Agents and their respective agents and counsel, and any other amounts due the Administrative Agent under Sections 4.1 and 13.5. Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of any Lender any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Secured 172 Party or to authorize the Administrative Agent to vote in respect of the claim of any Secured Party in any such proceeding. 12.12 ABL Intercreditor Agreement Each of the Collateral Agent and the Administrative Agent is hereby authorized to enter into the ABL Intercreditor Agreement contemplated hereby, and the parties hereto acknowledge that the ABL Intercreditor Agreement to which the Collateral Agent and/or the Administrative Agent is a party are each binding upon them. Each Secured Party (a) hereby agrees that it will be bound by and will take no actions contrary to the provisions of the ABL Intercreditor Agreement and (b) hereby authorizes and instructs the Collateral Agent and the Administrative Agent to enter into the ABL Intercreditor Agreement and to subject the Liens on the Collateral securing the Obligations to the provisions thereof. In addition, each Secured Party hereby authorizes the Collateral Agent and the Administrative Agent to enter into any other intercreditor arrangements to the extent required to give effect to the establishment of intercreditor rights and privileges as contemplated and required by Section 10.2 of this Agreement. 12.13 Security Documents and Guarantee; Agents under Security Documents and Guarantee (a) Each Secured Party hereby further authorizes the Administrative Agent or the Collateral Agent, as applicable, on behalf of and for the benefit of the Secured Parties, to be the agent for and representative of the Secured Parties with respect to the Guarantees, the Collateral and the Security Documents, as applicable. Subject to Section 13.1, without further written consent or authorization from any Secured Party, the Administrative Agent or the Collateral Agent, as applicable, may (or otherwise instruct the Collateral Agent to) execute any documents or instruments necessary to (x) subordinate any Lien on any property granted to or held by the Administrative Agent or the Collateral Agent under any Credit Document to the holder of any Lien permitted under clauses (d), (g) and (l) of Section 10.2 or (y) enter into subordination or intercreditor agreements with respect to Indebtedness to the extent the Administrative Agent or the Collateral Agent is otherwise contemplated herein as being a party to such intercreditor or subordination agreement (including the ABL Intercreditor Agreement). The Secured Parties hereby irrevocably agree that the Liens granted to the Collateral Agent by the Credit Parties on any Collateral shall be automatically released (i) upon the termination of the Aggregate Revolving Credit Commitments and all Letters of Credit (other than Letters of Credit that have been L/C Cash Collateralized, backstopped or otherwise collateralized on terms and conditions reasonably satisfactory to the applicable L/C Issuer) and the repayment in full of the Loans, together with interest, fees and all other Obligations (other than Hedging Obligations under Secured Hedging Agreements and Secured Specified Hedging Agreements, Cash Management Obligations under Secured Cash Management Agreements and Secured Specified Cash Management Agreements, or Contingent Obligations), (ii) upon the sale or other Disposition of such Collateral (including as part of or in connection with any other sale or other Disposition permitted hereunder) to any Person other than another Credit Party, to the extent such sale or other Disposition is made in compliance with the terms of this Agreement (and the Collateral Agent may rely conclusively on a certificate to that effect provided to it by any Credit Party upon its reasonable request without further inquiry), (iii) to the extent such Collateral is comprised of property leased to a Credit Party, upon termination or expiration of such lease, (iv) if the release of such Lien is approved, authorized or ratified in
173 writing by the Required Lenders (or such other percentage of the Lenders whose consent may be required in accordance with this Section 13.1), (v) to the extent the property constituting such Collateral is owned by any Guarantor, upon the release of such Guarantor from its obligations under the applicable Guarantee, (vi) as required to effect any sale or other Disposition of Collateral in connection with any exercise of remedies of the Collateral Agent pursuant to the Security Documents, and (vii) if such assets constitute Excluded Collateral. Any such release shall not in any manner discharge, affect or impair the Obligations or any Liens (other than those being released) upon (or obligations (other than those being released) of the Credit Parties in respect of) all interests retained by the Credit Parties, including the proceeds of any sale, all of which shall continue to constitute part of the Collateral except to the extent otherwise released in accordance with the provisions of the Credit Documents. Additionally, the Secured Parties hereby irrevocably agree that the Guarantors (other than Holdings) shall be automatically released from the applicable Guarantee upon consummation of any transaction resulting in such Subsidiary ceasing to constitute a Subsidiary or upon becoming a Excluded Subsidiary. The Lenders hereby authorize the Administrative Agent and the Collateral Agent, as applicable, and the Administrative Agent and the Collateral Agent agree to execute and deliver any instruments, documents, and agreements necessary or desirable or reasonably requested by the Borrower to evidence and confirm the release of any Guarantor or Collateral and its security interest therein pursuant to the foregoing provisions of this paragraph, all without the further consent or joinder of any Lender. (b) Right to Realize on Collateral and Enforce Guarantee. Anything contained in any of the Credit Documents to the contrary notwithstanding, Holdings, the Borrower, the Agents and each Secured Party hereby agree that (i) no Secured Party shall have any right individually to realize upon any of the Collateral or to enforce any Guarantee, it being understood and agreed that all powers, rights and remedies hereunder and under any Guarantee may be exercised solely by the Administrative Agent, on behalf of the Secured Parties in accordance with the terms hereof and thereof and all powers, rights and remedies under the Security Documents may be exercised solely by the Collateral Agent on behalf of the Secured Parties, and (ii) in the event of a foreclosure by the Collateral Agent on any of the Collateral pursuant to a public or private sale or other Disposition, the Collateral Agent or any Secured Party may be the purchaser or licensor of any or all of such Collateral at any such sale or other Disposition and the Collateral Agent, as agent for and representative of the Secured Parties (but not any Lender or Lenders in its or their respective individual capacities unless Required Lenders shall otherwise agree in writing) shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Collateral sold at any such public sale, to use and apply any of the Obligations as a credit on account of the purchase price for any collateral payable by the Collateral Agent at such sale or other Disposition. No holder of Hedging Obligations under Secured Hedging Agreements or Secured Specified Hedging Agreements, or Cash Management Obligations under Secured Cash Management Agreements or Secured Specified Cash Management Obligations, shall have any rights in connection with the management or release of any Collateral or of the obligations of any Credit Party under this Agreement. No holder of Hedging Obligations under Secured Hedging Agreements or Secured Specified Hedging Agreements, or Cash Management Obligations under Secured Cash Management Agreements or Secured Specified Cash Management Agreements, that obtains the benefits of any Guarantee or any Collateral by virtue of the provisions hereof or of any other Credit Document shall have any right to notice of any action or to consent to or vote on, direct or object to any action hereunder or under any other Credit Document or otherwise in respect of the Collateral (including the release 174 or impairment of any Collateral) other than in its capacity as a Lender, L/C Issuer or Agent and, in such case, only to the extent expressly provided in the Credit Documents. Notwithstanding any other provision of this Agreement to the contrary, the Administrative Agent shall not be required to verify the payment of, or that other satisfactory arrangements have been made with respect to, Obligations arising under Secured Hedging Agreements, Secured Specified Hedging Agreements, Secured Cash Management Agreements and Secured Specified Cash Management Agreements, unless the Administrative Agent has received written notice of such Obligations, together with such supporting documentation as the Administrative Agent may request, from the Cash Management Bank or Hedge Bank, as the case may be. SECTION 13 Miscellaneous 13.1 Amendments, Waivers and Releases Except as otherwise expressly set forth in the Credit Documents (including Section 2.10(e)), neither this Agreement nor any other Credit Document, nor any terms hereof or thereof, may be amended, supplemented or modified except in accordance with the provisions of this Section 13.1. The Required Lenders may, or, with the written consent of the Required Lenders, the Administrative Agent and/or the Collateral Agent may, from time to time, (a) enter into with the relevant Credit Party or Credit Parties written amendments, supplements or modifications hereto and to the other Credit Documents for the purpose of adding any provisions to this Agreement or the other Credit Documents or changing in any manner the rights of the Lenders or of the Credit Parties hereunder or thereunder or (b) waive in writing, on such terms and conditions as the Required Lenders or the Administrative Agent and/or Collateral Agent, as the case may be, may specify in such instrument, any of the requirements of this Agreement or the other Credit Documents or any Default or Event of Default and its consequences; provided, however, that each such waiver and each such amendment, supplement or modification shall be effective only in the specific instance and for the specific purpose for which given; and provided, further, that no such waiver and no such amendment, supplement or modification shall: (i) forgive or reduce any portion of any Loan or fee or extend the final scheduled maturity date of any Loan or reduce the stated rate, or forgive any portion thereof, or extend the date for the payment of any principal, any interest or fee payable hereunder (other than as a result of waiving the applicability of any post-default increase in interest rates), or extend the final expiration date of any Lender’s Revolving Credit Commitment or extend the final expiration date of any Letter of Credit beyond the Letter of Credit Expiration Date, or increase the aggregate amount of the Revolving Credit Commitments of any Lender, or modify clause (i) of the proviso to Section 4.2(a) in a manner that would alter the pro rata allocation to the Appropriate Lenders of any reduction in the Revolving Credit Commitments, or modify Section 11.23 in a manner that would alter the pro rata allocation to the Appropriate Lenders in the “waterfall”, in each case without the written consent of each Lender directly and adversely affected thereby; provided that, in each case for purposes of this clause (i), a waiver of any condition precedent in Section 7 of this Agreement, the waiver of any Default, Event of Default, default interest, mandatory prepayment or reductions, any modification, waiver or amendment of the Financial Covenant (or any financial definitions or financial ratios or any component thereof), the making of any Protective Advance in accordance herewith or 175 the waiver of any other covenant shall not constitute an increase of any Revolving Credit Commitment of a Lender, a reduction or forgiveness of any portion of any Loan or in the interest rates or the fees or premiums or a postponement of any date scheduled for the payment of principal or interest or an extension of the final maturity of any Loan, or the scheduled termination date of any Revolving Credit Commitment; (ii) (x) reduce the percentages specified in the definition of the term “Required Lenders” or “Supermajority Lenders” without the consent of each Lender, or (y) amend any other provision of this Section 13.1 that has the effect of decreasing the number of Lenders that are required to approve any amendment, modification or waiver, consent to the assignment or transfer by Holdings or the Borrower of their respective rights and obligations under any Credit Document to which it is a party (except as permitted pursuant to Section 10.3 or as contemplated by the definition of “Holdings”), alter the order of application set forth in Section 5.2(b) during the continuance of an Event of Default or Section 11.23 or change Section 13.8 or any other provision requiring pro rata sharing among the Lenders, in each case of this clause (y) without the written consent of each Lender directly and adversely affected thereby or (z) amend or modify the Superpriority Claim status of the Lenders under the Orders or under any Credit Document without the written consent of each Lender directly and adversely affected thereby, (iii) amend, modify or waive any provision of Section 12 without the written consent of the then-current Administrative Agent and Collateral Agent or any other former or current Agent to whom Section 12 then applies in a manner that directly and adversely affects such Person, (iv) amend, modify or waive any provision of Section 3.1 without the written consent of each L/C Issuer to whom such provision then applies in a manner that directly and adversely affects such Person, (v) amend, modify or waive any provision of Section 3.2 without the written consent of the Swing Line Lender to whom such provision then applies in a manner that directly and adversely affects such Person, (vi) release all or substantially all of the value of the Guarantors under the Guarantees (except as expressly permitted by this Agreement) or release all or substantially all of the Collateral under the Security Documents (except as expressly permitted by the Security Documents or this Agreement), in either case without the prior written consent of each Lender, or (vii) increase the advance rates provided for in the Borrowing Base referenced in the definition thereof or any component definition of any of the foregoing, or modify the definitions of “Eligible Accounts”, “Eligible Borrowing Base Cash”, “Eligible In-Transit Inventory”, “Eligible Investment Grade Accounts”, “Eligible Inventory” or the eligibility criteria set forth therein, if as a result thereof the amounts available to be borrowed by the Borrower would be increased, without the written consent of the Supermajority Lenders; provided that the foregoing shall not limit the discretion of the 176 Administrative Agent to change, establish or eliminate any Reserves without the consent of any Lender. Any such waiver and any such amendment, supplement or modification shall apply equally to each of the affected Lenders and shall be binding upon Holdings, the Borrower, the applicable Credit Parties, such Lenders, the Administrative Agent and all future holders of the affected Loans. In the case of any waiver, Holdings, the Borrower, the applicable Credit Parties, the Lenders, the Administrative Agent shall be restored to their former positions and rights hereunder and under the other Credit Documents, and any Default or Event of Default waived shall be deemed to be cured and not continuing, it being understood that no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. In connection with the foregoing provisions, the Administrative Agent may, but shall have no obligations to, with the concurrence of any Lender, execute amendments, modifications, waivers or consents on behalf of such Lender. Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, modification, supplement, waiver or consent hereunder, except that the Revolving Credit Commitment of such Lender may not be increased or extended without the consent of such Lender (it being understood that any Revolving Credit Commitments or Loans held or deemed held by any Defaulting Lender shall be excluded for a vote of the Lenders hereunder requiring any consent of the Lenders, except as expressly provided for by this Agreement). Notwithstanding anything in this Agreement (including, without limitation, this Section 13.1) or any other Credit Document to the contrary, (i) this Agreement and the other Credit Documents may be amended to effect any Incremental Commitments pursuant to Section 2.14 or Extension Amendments pursuant to Section 2.15 (and the Administrative Agent and the Borrowers may effect such amendments to this Agreement and the other Credit Documents without the consent of any other party as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Borrowers, to effect the terms of any such incremental facility or extension amendment); (ii) [reserved]; (iii) any provision of this Agreement or any other Credit Document (including, for the avoidance of doubt, any exhibit, schedule or other attachment to any Credit Document) may be amended by an agreement in writing entered into by the Borrower and the Administrative Agent (A) to cure any ambiguity, omission, mistake, defect or inconsistency (as reasonably determined by the Administrative Agent and the Borrower), (B) to effect administrative changes of a technical or immaterial nature (as reasonably determined by the Administrative Agent and the Borrower), (C) to correct incorrect cross-references or similar inaccuracies or (D) to add benefit to the existing Revolving Credit Commitments if adding such benefit is a condition to the incurrence of any Indebtedness permitted to be incurred under the Credit Documents; provided that in the case of clauses (A) and (B) above, the Lenders shall have received at least five Business Days’ prior written notice thereof and the Administrative Agent shall not have received, within five Business Days of the date of such notice to the Lenders, a written notice from the Required Lenders stating that the Required Lenders object to such amendment; (iv) guarantees, collateral documents and related documents executed by the Credit Parties in connection with this Agreement may be in a form reasonably determined by the Administrative Agent and may be, together with any other Credit Document, entered into, amended, supplemented or waived, without the consent of any other Person, by the applicable
177 Credit Party or Credit Parties and the Administrative Agent or the Collateral Agent in its or their respective sole discretion if applicable, (A) to effect the granting, perfection, protection, expansion or enhancement of any security interest in any Collateral or additional property to become Collateral for the benefit of the applicable Secured Parties, (B) as required by local law or advice of counsel to give effect to, or protect any security interest for the benefit of the Secured Parties, in any property or so that the security interests therein comply with the Applicable Law or (C) to cure ambiguities, omissions, mistakes or defects (as reasonably determined by the Administrative Agent and the Borrower) or to cause such guarantee, collateral security document or other document to be consistent with this Agreement and the other Credit Documents; and (v) the Credit Parties and the Collateral Agent, without the consent of any other Secured Party, shall be permitted to enter into amendments and/or supplements to any Security Documents in order to include customary provisions permitting the Collateral Agent to appoint sub-collateral agents or representatives to act with respect to Collateral matters thereunder in its stead. Notwithstanding anything in this Agreement or any Security Document to the contrary, the Administrative Agent may, in its sole discretion, grant extensions of time (and direct the Collateral Agent to grant such extensions) for the satisfaction of any of the requirements under Sections 9.10, Section 9.12, Section Error! Reference source not found. or any Security Documents in respect of any particular Collateral or any particular Subsidiary if it determines that the satisfaction thereof with respect to such Collateral or such Subsidiary cannot be accomplished without undue expense or unreasonable effort or due to factors beyond the control of Holdings, the Borrower and the Subsidiaries by the time or times at which it would otherwise be required to be satisfied under this Agreement or any Security Document. At any time that any Real Estate constitutes Collateral, no modification of a Credit Document shall add, increase, renew or extend any loan, commitment or credit line hereunder until the completion of the Flood Documentation as otherwise satisfactory to all Lenders. 13.2 Notices Unless otherwise expressly provided herein, all notices and other communications provided for hereunder or under any other Credit Document shall be in writing (including by facsimile or other electronic transmission). All such written notices shall be mailed, faxed or delivered to the applicable address, facsimile number or e-mail address, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows: (a) if to Holdings, the Borrower, the Administrative Agent, the Collateral Agent, an L/C Issuer, or the Swing Line Lender to the address, facsimile number, e-mail address or telephone number specified for such Person on Schedule 13.2 or to such other address, facsimile number, electronic mail address or telephone number as shall be designated by such party in a notice to the other parties; and (b) if to any other Lender, to the address, facsimile number, e-mail address or telephone number specified in its Administrative Questionnaire or to such other address, facsimile number, electronic mail address or telephone number as shall be designated by such party in a 178 notice to Holdings, the Borrower, the Administrative Agent, the Collateral Agent, the relevant L/C Issuer. All such notices and other communications shall be deemed to be given or made upon the earlier to occur of (i) actual receipt by the relevant party hereto and (ii) (A) if delivered by hand or by courier, when signed for by or on behalf of the relevant party hereto; (B) if delivered by mail, three Business Days after deposit in the mails, postage prepaid; (C) if delivered by facsimile, when sent and receipt has been confirmed by telephone; and (D) if delivered by e-mail, when delivered; provided that notices and other communications to the Administrative Agent or the Lenders pursuant to Sections 2.3, 2.9, 4.2 and 5.1 shall not be effective until received. 13.3 No Waiver; Cumulative Remedies No failure to exercise and no delay in exercising, on the part of the Administrative Agent, the Collateral Agent or any Lender, any right, remedy, power or privilege hereunder or under the other Credit Documents shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law. 13.4 Survival of Representations and Warranties All representations and warranties made hereunder, in the other Credit Documents and in any document, certificate or statement delivered pursuant hereto or in connection herewith shall survive the execution and delivery of this Agreement and the making of the Credit Extensions hereunder. 13.5 Payment of Expenses; Indemnification The Borrower agree, within thirty (30) days after written demand therefor (including documentation reasonably supporting such request), or, in the case of expenses of the type described in clause (a) below incurred prior to the Closing Date, on the Closing Date, (a) if the Closing Date occurs, to pay or reimburse the Agents and the Joint Lead Arrangers (and, in the case of the following clause (ii), the Lenders) for all their reasonable and documented out-of- pocket costs and expenses incurred (i) in connection with the syndication, preparation, execution, delivery, negotiation and administration of this Agreement and the other Credit Documents and any other documents prepared in connection herewith or therewith (including any amendment or waiver with respect thereto and for reimbursement of reasonable expenses related to appraisals, field examinations and collateral review permitted hereunder), and the consummation and administration of the transactions contemplated hereby and thereby, including the reasonable and documented fees, disbursements and other charges of Davis Polk & Wardwell LLP and to the extent reasonably necessary, one local counsel in each relevant material jurisdiction, excluding in each case allocated costs of in-house counsel and fees and solely to the extent the Borrower has consented to the retention of such other Person, expenses with respect to any other advisor or consultant, and (ii) upon the occurrence and during the continuation of an Event of Default, in connection with the enforcement or preservation of any rights under this Agreement, the other 179 Credit Documents and any such other documents, including the reasonable and documented out- of-pocket fees, disbursements and other charges of Advisors (limited, in the case of Advisors, as set forth in the definition thereof), (b) to pay, indemnify, and hold harmless each Lender, the L/C Issuers and each Agent from, any and all recording and filing fees and (c) to pay, indemnify, and hold harmless each Lender, the L/C Issuers and each Agent and their respective Affiliates, and the directors, officers, partners, employees and agents of any of the foregoing, from and against any and all other liabilities, obligations, losses, damages, penalties, claims, demands, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever, including reasonable and documented out-of-pocket fees, disbursements and other charges of Advisors related to the Transactions or, with respect to the execution, delivery, enforcement, performance and administration of this Agreement, the other Credit Documents and any such other documents, including, any of the foregoing relating to the violation of, noncompliance with or liability under, any Environmental Law (other than by such indemnified person or any of its Related Parties (other than trustees and advisors)) or to any actual or alleged presence, release or threatened release into the environment of Hazardous Materials attributable to the operations of Holdings, the Borrower, any of the Borrower’s Subsidiaries or any of the Real Estate (all the foregoing in this clause (c), collectively, the “indemnified liabilities”) (SUBJECT TO THE PROVISO BELOW, WHETHER OR NOT CAUSED BY OR ARISING IN WHOLE OR IN PART, OUT OF THE COMPARATIVE, CONTRIBUTORY OR SOLE ORDINARY NEGLIGENCE OF THE INDEMNIFIED PERSON); provided that none of the Borrower nor any other Credit Party shall have any obligation hereunder to any Agent, any L/C Issuer or any Lender or any of their respective Related Parties with respect to indemnified liabilities to the extent they result from (A) the gross negligence, bad faith or willful misconduct of such indemnified Person or any of its Related Parties (acting on behalf of or at such indemnified Person’s direction) as determined by a final non-appealable judgment of a court of competent jurisdiction, (B) a material breach of the obligations of such indemnified Person or any of its Related Parties (acting on behalf of or at such indemnified Person’s direction) under the Credit Documents as determined by a final non- appealable judgment of a court of competent jurisdiction, (C) disputes not involving an act or omission of Holdings, the Borrower or any other Credit Party and that is brought by an indemnified Person against any other indemnified Person, other than any claims against any indemnified Person in its capacity or in fulfilling its role as an Agent or any similar role under the Credit Facilities or (D) any settlement effected without the Borrower’s prior written consent, but if settled with the Borrower’s prior written consent (not to be unreasonably withheld, delayed, conditioned or denied) or if there is a final non-appealable judgment in any such proceeding, the Borrower will indemnify and hold harmless such indemnified Person from and against any and all losses, claims, damages, liabilities and expenses by reason of such settlement or judgment in accordance with this Section 13.5. All amounts payable under this Section 13.5 shall be paid within 30 days of receipt by the Borrower of an invoice relating thereto setting forth such expense in reasonable detail. The agreements in this Section 13.5 shall survive repayment of the Loans and all other amounts payable hereunder. No Credit Party nor any indemnified Person shall have any liability for any special, punitive, indirect or consequential damages resulting from this Agreement or any other Credit Document or arising out of its activities in connection herewith or therewith (whether before or after the Closing Date) (except, in the case of the Borrower’s obligation hereunder to indemnify and hold harmless the indemnified Person, to the extent of any losses, claims, damages, liabilities and expenses incurred or paid by such indemnified Person to a third party unaffiliated with such 180 indemnified Person). No indemnified Persons 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 Credit Documents or the transactions contemplated hereby or thereby, except to the extent that such damages have resulted from the willful misconduct, bad faith or gross negligence of any indemnified Person or any of its Related Parties (acting on behalf of or at such indemnified Person’s direction) (as determined by a final non-appealable judgment of a court of competent jurisdiction). This Section 13.5 shall not apply to Taxes. Each indemnified Person, by its acceptance of the benefits of this Section 13.5, agrees to refund and return any and all amounts paid by the Borrower (or on their behalf) to it if, pursuant to limitations on indemnification set forth in this Section 13.5, such indemnified Person was not entitled to receipt of such amounts. 13.6 Successors and Assigns; Participations and Assignments (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby (including any Affiliate of an L/C Issuer that issues any Letter of Credit), except that (i) except as expressly permitted by Section Error! Reference source not found. or Section 10.3 or Section Error! Reference source not found., neither Holdings nor the Borrower may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Administrative Agent and each Lender (and any attempted assignment or transfer by Holdings or the Borrower without such consent shall be null and void) and (ii) no Lender may assign or otherwise transfer its rights or obligations hereunder except in accordance with this Section 13.6. Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby (including any Affiliate of a L/C Issuer that issues any Letter of Credit), Participants (to the extent provided in clause (c) of this Section 13.6), to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the Collateral Agent, the L/C Issuers and the Lenders and each other Person entitled to indemnification under Section 13.5) any legal or equitable right, remedy or claim under or by reason of this Agreement. (b) (i) Subject to the conditions set forth in clause (b)(ii) below, any Lender may at any time assign to one or more assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its Revolving Credit Commitments and the Revolving Credit Loans at the time owing to it) with the prior written consent (in each case, such consent not to be unreasonably withheld, delayed, conditioned or denied) of: (A) the Borrower; provided that no consent of the Borrower shall be required for an assignment of Revolving Credit Loans (1) to a Lender, an Affiliate of a Lender or an Approved Fund or (2) if an Event of Default has occurred and is continuing, to any other assignee; and (B) the Administrative Agent, each L/C Issuer and the Swing Line Lender; provided that no such shall be required for any assignment of any Revolving
181 Credit Commitments or Revolving Credit Loan to a Lender, an Affiliate of a Lender, an Approved Fund. Notwithstanding the foregoing, no such assignment shall be made to (x) a natural person, (y) any investment vehicle established primarily for the benefit of a natural person or (z) a Disqualified Institution (provided that the prohibition in clause (z) shall not apply retroactively to disqualify any entity that has previously acquired an assignment or participation interest in the Revolving Credit Loans to the extent such entity was not a Disqualified Institution at the time of the applicable assignment or participation, as the case may be), and any attempted assignment in violation of clauses (x) - (z) shall be null and void. For the avoidance of doubt, (i) the Administrative Agent shall have no obligation with respect to, and shall bear no responsibility or liability for, the ascertaining, monitoring, inquiring or enforcing of the list of Persons who are Disqualified Institutions (or any provisions relating thereto) at any time, and shall have, and shall have no liability with respect to or arising out of any assignment or participation of any Revolving Credit Commitments or Revolving Credit Loans to any Disqualified Institution and (ii) the Administrative Agent may share a list of Persons who are Disqualified Institutions with any Lender upon request. (ii) Assignments shall be subject to the following additional conditions: (A) except in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund or an assignment of the entire remaining amount of the assigning Lender’s Revolving Credit Commitments or Revolving Credit Loans, the amount of the Revolving Credit Commitments or Revolving Credit Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent), shall not be less than $5,000,000, unless each of the Borrower and the Administrative Agent otherwise consents (which consents shall not be unreasonably withheld, delayed, conditioned or denied); provided that no such consent of the Borrower shall be required if an Event of Default has occurred and is continuing; provided, further, that contemporaneous assignments to a single assignee made by Affiliates of Lenders and related Approved Funds shall be aggregated for purposes of meeting the minimum assignment amount requirements stated above; (B) each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement; (C) the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee in the amount of $3,500; provided that the Administrative Agent may, in its sole discretion, elect to waive such processing and recordation fee in the case of any assignment; (D) the assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire and the applicable tax forms as required under Section 5.4 (or the comparable provisions under Section 14); and 182 (E) the assignee shall not be Holdings, the Borrower or any of its Subsidiaries. (iii) Subject to acceptance and recording thereof pursuant to clause (b)(iv) of this Section 13.6, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 2.10, 2.11, 5.4 (and the comparable provisions under Section 14) and 13.5). Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 13.6 shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with clause (c) of this Section 13.6 (other than attempted assignments or transfers in violation of the last paragraph of Section 13.6(b)(i) above, which shall be null and void as provided above). (iv) The Administrative Agent, acting for this purpose as a non-fiduciary agent of the Borrower, shall maintain at the Administrative Agent’s Office in the United States a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Revolving Credit Commitments of, and principal amount of the Loans and any payment made by any L/C Issuer under any Letter of Credit, Revolving Credit Loans owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). Further, each Register shall contain the name and address of the Administrative Agent and the Lending Office through which each such Person acts under this Agreement. The entries in the Register shall be conclusive, absent manifest error, and the Borrower, the Administrative Agent, the Collateral Agent and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by Holdings, the Borrower, the Collateral Agent, the L/C Issuers and any Lender (solely with respect to its own outstanding Loans and Revolving Credit Commitments), at any reasonable time and from time to time upon reasonable prior notice. (v) Upon its receipt of a duly completed Assignment and Assumption executed by an assigning Lender and an assignee, the assignee’s completed Administrative Questionnaire (unless the assignee shall already be a Lender hereunder), the processing and recordation fee referred to in clause (b) of this Section 13.6 (unless waived) and any written consent to such assignment required by clause (b) of this Section 13.6, the Administrative Agent shall promptly accept such Assignment and Assumption and record the information contained therein in the Register. (c) (i) Any Lender may, without the consent of Holdings, the Borrower, the Administrative Agent or any L/C Issuer, sell participations to one or more banks or other entities that are not (x) a natural person, (y) any investment vehicle established primarily for the benefit of 183 a natural person or (z) a Disqualified Institution (provided that the prohibition in clause (z) shall not apply retroactively to disqualify any entity that has previously acquired an assignment or participation interest in the Revolving Credit Loans to the extent such entity was not a Disqualified Institution at the time of the applicable assignment or participation, as the case may be) (each, a “Participant”) (and any such attempted sales to the Persons identified in clauses (x) - (z) above shall be null and void) (provided that the last sentence of Section 13.6(b)(i) shall apply) in all or a portion of such Lender’s rights and obligations under this Agreement (including all or a portion of its Revolving Credit Commitments and the Revolving Credit Loans owing to it); provided that (A) such Lender’s obligations under this Agreement shall remain unchanged, (B) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, and (C) Holdings, the Borrower, the Administrative Agent, the L/C Issuers and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. For the avoidance of doubt, the Administrative Agent shall have no obligation with respect to, and shall bear no responsibility or liability for, the monitoring or enforcing of the list of Disqualified Institutions with respect to the sales of participations at any time. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement or any other Credit Document; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any consent, amendment, modification, supplement or waiver described in clause (i) or (iv) of the second proviso of the first paragraph of Section 13.1 that directly and adversely affects such Participant. Subject to clause (c)(ii) of this Section 13.6, the Borrower agree that each Participant shall be entitled to the benefits of Sections 2.10, 2.11 and 5.4 (and the comparable provisions of Section 14) to the same extent as if it were a Lender, and provided that such Participant agrees to be subject to the requirements and limitations of those Sections and Sections 2.12 and 13.7(a) as though it were a Lender and had acquired its interest by assignment pursuant to clause (b) of this Section 13.6. To the extent permitted by Applicable Law, each Participant also shall be entitled to the benefits of Section 13.8(b) as though it were a Lender; provided that such Participant agrees to be subject to Section 13.8(a) as though it were a Lender. Each Lender that sells a participation agrees, at the Borrower’s request and expense, to use reasonable efforts to cooperate with the Borrower to effectuate the provisions of Section 13.7 with respect to any Participant. (ii) A Participant shall not be entitled to receive any greater payment under Section 2.10, 2.11 or 5.4 (or the comparable provisions under Section 14) than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower’s prior written consent. (iii) Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each participant and the principal amounts (and stated interest) of each Participant’s interest in the Revolving Credit Loans (or other rights or obligations) held by it (the “Participant Register”). 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. No Lender shall have any 184 obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant’s interest in any commitments, loans, letters of credit or its other obligations under any Credit Document) to any Person except to the extent that such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. (d) Any Lender may, without the consent of Holdings, the Borrower or the Administrative Agent, at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank, and this Section 13.6 shall not apply to any such pledge or assignment of a security interest; provided that no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. (e) Subject to Section 13.16, the Borrower authorize each Lender to disclose (other than to any Disqualified Institutions) to any Participant, secured creditor of such Lender or assignee (each, a “Transferee”), any prospective Transferee and any prospective direct or indirect contractual counterparties to any swap or derivative transactions to be entered into in connection with or relating to Revolving Credit Loans made hereunder any and all financial information in such Lender’s possession concerning the Borrower and their Affiliates that has been delivered to such Lender by or on behalf of the Borrower and their Affiliates pursuant to this Agreement or that has been delivered to such Lender by or on behalf of the Borrower and their Affiliates in connection with such Lender’s credit evaluation of the Borrower and their Affiliates prior to becoming a party to this Agreement. (f) SPV Lender. Notwithstanding anything to the contrary contained herein, any Lender (a “Granting Lender”) may grant to a special purpose funding vehicle (an “SPV”), identified as such in writing from time to time by the Granting Lender to the Administrative Agent and the Borrower, the option to provide to the Borrower all or any part of any Revolving Credit Loan that such Granting Lender would otherwise be obligated to make the Borrower pursuant to this Agreement; provided that (i) nothing herein shall constitute a commitment by any SPV to make any Revolving Credit Loan and (ii) if an SPV elects not to exercise such option or otherwise fails to provide all or any part of such Revolving Credit Loan, the Granting Lender shall be obligated to make such Revolving Credit Loan pursuant to the terms hereof. The making of a Revolving Credit Loan by an SPV hereunder shall utilize the Revolving Credit Commitment of the Granting Lender to the same extent, and as if, such Revolving Credit Loan were made by such Granting Lender. Each party hereto hereby agrees that no SPV shall be liable for any indemnity or similar payment obligation under this Agreement (all liability for which shall remain with the Granting Lender). In furtherance of the foregoing, each party hereto hereby agrees (which agreement shall survive the termination of this Agreement) that, prior to the date that is one year and one day after the payment in full of all outstanding commercial paper or other senior indebtedness of any SPV, it shall not institute against, or join any other Person in instituting against, such SPV any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings under the laws of the United States or any State thereof. In addition, notwithstanding anything to the contrary contained in this Section 13.6, any SPV may (i) with notice to, but without the prior written consent of, the Borrower and the Administrative Agent and without paying any
185 processing fee therefor, assign all or a portion of its interests in any Revolving Credit Loans to the Granting Lender or to any financial institutions (consented to by the Borrower and the Administrative Agent) other than a Disqualified Institution providing liquidity and/or credit support to or for the account of such SPV to support the funding or maintenance of Revolving Credit Loans and (ii) disclose on a confidential basis any non-public information relating to its Revolving Credit Loans to any rating agency, commercial paper dealer or provider of any surety, guarantee or credit or liquidity enhancement to such SPV. This Section 13.6(f) may not be amended without the written consent of the SPV. Notwithstanding anything to the contrary in this Agreement, (x) no SPV shall be entitled to any greater rights under Sections 2.10, 2.11, and 5.4 (and the comparable provisions under Section 14) than its Granting Lender would have been entitled to absent the use of such SPV and (y) each SPV agrees to be subject to the requirements of Sections 2.10, 2.11, and 5.4 (and the comparable provisions under Section 14) as though it were a Lender and has acquired its interest by assignment pursuant to clause (b) of this Section 13.6. This Section 13.6 shall be construed so that all Loans are at all times maintained in “registered form” within the meaning of Section 5f.103-1(c) of the United States Treasury Regulations. 13.7 Replacements of Lenders under Certain Circumstances (a) The Borrower shall be permitted (x) to replace any Lender with a replacement bank or institution or (y) terminate the Revolving Credit Commitment of such Lender, as the case may be, and repay all Obligations of the Borrower due and owing to such Lender relating to the Revolving Credit Loans and participations held by such Lender as of such termination date that (a) requests reimbursement for amounts owing pursuant to Section 2.10, Section 5.4 (or the comparable provisions under Section 14) (or the Borrower is required to pay any Indemnified Taxes or additional amounts to any Agent or Lender or to any Governmental Authority on account of any Agent or Lender pursuant to Section 5.4 (or the comparable provisions under Section 14)), (b) is affected in the manner described in Section 2.10(a)(iii) and as a result thereof any of the actions described in such Section is required to be taken, or (c) becomes a Defaulting Lender; provided that, solely in the case of the foregoing clause (x), (i) no Event of Default shall have occurred and be continuing at the time of such replacement, (ii) the Borrower shall repay (or the replacement bank or institution shall purchase, at par) all Revolving Credit Loans and other amounts (other than any disputed amounts), pursuant to Section 2.10, 2.11 or 5.4 (or the comparable provisions under Section 14), as the case may be, owing to such replaced Lender prior to the date of replacement, (iii) the replacement bank or institution, if not already a Lender, an Affiliate of a Lender or an Approved Fund, and the terms and conditions of such replacement, shall be reasonably satisfactory to the Administrative Agent (solely to the extent such consent would be required under Section 13.6), (iv) the replaced Lender shall be obligated to make such replacement in accordance with the provisions of Section 13.6 (provided that the Borrower shall be obligated to pay the registration and processing fee referred to therein unless otherwise agreed) and (v) any such replacement shall not be deemed to be a waiver of any rights that the Borrower, the Administrative Agent or any other Lender shall have against the replaced Lender. (b) If any Lender (such Lender, a “Non-Consenting Lender”) has failed to consent to a proposed amendment, modification, supplement, waiver, discharge or termination that pursuant to the terms of Section 13.1 requires the consent of either (i) all of the Lenders directly and adversely affected or (ii) all of the Lenders, and, in each case, with respect to which the 186 Required Lenders or a majority (in principal amount) of the directly and adversely affected Lenders shall, in each such case, have granted their consent, then so long as no Event of Default then exists, the Borrower shall have the right (unless such Non-Consenting Lender grants such consent) to (x) replace such Non-Consenting Lender by requiring such Non-Consenting Lender to assign its Revolving Credit Loans and its Revolving Credit Commitments hereunder to one or more assignees reasonably acceptable to the Administrative Agent (to the extent such consent would be required under Section 13.6) or (y) terminate the Revolving Credit Commitment of such Lender, repay all Obligations of the Borrower due and owing to such Lender relating to the Revolving Credit Loans and participations held by such Lender as of such termination date; provided that: (a) all Obligations of the Borrower hereunder owing to such Non-Consenting Lender being replaced shall be paid in full to such Non-Consenting Lender concurrently with such assignment, and (b) the replacement Lender shall purchase the foregoing by paying to such Non-Consenting Lender a price equal to the principal amount thereof plus accrued and unpaid interest thereon. In connection with any such assignment, the Borrower, Administrative Agent, such Non-Consenting Lender and the replacement Lender shall otherwise comply with Section 13.6. (c) Nothing in this Section 13.7 shall be deemed to prejudice any right or remedy that Holdings or the Borrower may otherwise have at law or at equity. 13.8 Adjustments; Set-off (a) Except as contemplated in Section 13.6 or elsewhere herein or in any other Credit Document, if any Lender (a “Benefited Lender”) shall in its capacity as a Revolving Credit Lender, at any time receive any payment of all or part of its Revolving Credit Loans, or interest thereon, or the participations in L/C Obligations and Swing Line Loans held by it, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 11.5, or otherwise), in a greater proportion than its Pro Rata Share (or other applicable share contemplated hereunder) compared to any such payment to or collateral received by any other Revolving Credit Lender, if any, in respect of such other Revolving Credit Lender’s Revolving Credit Loans, or interest thereon or the participations in the L/C Obligations and Swing Line Loans, in each case, such Benefited Lender shall purchase for cash from the other applicable Lenders a participating interest in such portion of each such other Lender’s applicable Revolving Credit Loans, applicable participations in L/C Obligations and Swing Line Loans, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such Benefited Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the applicable Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such Benefited Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. (b) After the occurrence and during the continuance of an Event of Default, in addition to any rights and remedies of the Lenders provided by Applicable Law, each Lender shall have the right, upon any amount becoming due and payable by the Borrower hereunder (whether at the Stated Maturity, by acceleration or otherwise) to set-off and appropriate and apply against such amount any and all deposits (general or special, time or demand, provisional or final) (other than any Excluded Account of the type described in clause (i), (ii), (vi), (vii) and (viii) of the definition thereof), in any currency, and any other credits, indebtedness or claims, in any currency, 187 in each case whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing by such Lender or any branch or agency thereof to or for the credit or the account of the Borrower. Each Lender agrees promptly to notify the Borrower and the Administrative Agent after any such set-off and application made by such Lender; provided that the failure to give such notice shall not affect the validity of such set-off and application. 13.9 Counterparts; Electronic Execution This Agreement may be executed by one or more of the parties to this Agreement on any number of separate counterparts (including by facsimile or other electronic transmission), and all of said counterparts taken together shall be deemed to constitute one and the same instrument. A set of the copies of this Agreement signed by all the parties shall be lodged with the Borrower and the Administrative Agent. The words “execution,” “signed,” “signature,” and words of like import in any Assignment and Assumption or any other Credit Document shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any Applicable Law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. 13.10 Severability Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 13.11 INTEGRATION THIS WRITTEN AGREEMENT AND THE OTHER CREDIT DOCUMENTS REPRESENT THE FINAL AGREEMENT OF PARENT BORROWER, HOLDINGS, THE OTHER BORROWERS, THE COLLATERAL AGENT, THE ADMINISTRATIVE AGENT, THE L/C ISSUERS AND THE LENDERS WITH RESPECT TO THE SUBJECT MATTER HEREOF, AND (1) THERE ARE NO PROMISES, UNDERTAKINGS, REPRESENTATIONS OR WARRANTIES BY HOLDINGS, THE BORROWERS, THE ADMINISTRATIVE AGENT, THE COLLATERAL AGENT, THE L/C ISSUERS OR ANY LENDER RELATIVE TO SUBJECT MATTER HEREOF NOT EXPRESSLY SET FORTH OR REFERRED TO HEREIN OR IN THE OTHER CREDIT DOCUMENTS, (2) THIS AGREEMENT AND THE OTHER CREDIT DOCUMENTS MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES AND (3) THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES; PROVIDED THAT THE SYNDICATION PROVISIONS AND THE PARENT BORROWER’S AND HOLDINGS’ CONFIDENTIALITY OBLIGATIONS IN THE COMMITMENT LETTER SHALL REMAIN IN FULL FORCE AND EFFECT PURSUANT TO THE TERMS THEREOF. 188 13.12 GOVERNING LAW THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK (WHETHER IN TORT, CONTRACT OR OTHERWISE AND WHETHER AT LAW OR IN EQUITY) AND (TO THE EXTENT APPLICABLE) THE BANKRUPTCY CODE. 13.13 Submission to Jurisdiction; Waivers Each party hereto irrevocably and unconditionally: (a) submits for itself and its property in any legal action or proceeding relating to this Agreement and the other Credit Documents to which it is a party, or for recognition and enforcement of any judgment in respect thereof, to the exclusive general jurisdiction of the Bankruptcy Court and, if the Bankruptcy Court does not have (or abstains from) jurisdiction, the courts of the State of New York, the courts of the United States of America for the Southern District of New York, in each case sitting in New York City in the Borough of Manhattan, and appellate courts from any thereof; (b) consents that any such action or proceeding shall be brought in such courts and waives (to the extent permitted by Applicable Law) any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same; (c) agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to such Person at its address set forth on Schedule 13.2 or at such other address of which the Administrative Agent shall have been notified pursuant to Section 13.2; (d) agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law or, in the case of the Administrative Agent, the Collateral Agent, the Lenders, the L/C Issuers and the Swing Line Lender, shall limit the right to sue in any other jurisdiction; (e) subject to the last paragraph of Section 13.5, waives, to the maximum extent not prohibited by Applicable Law, any right it may have to claim or recover in any legal action or proceeding referred to in this Section 13.13 any special, exemplary, punitive or consequential damages; and (f) agrees that a final judgment in any action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by Applicable Law.
189 13.14 Acknowledgments Each of Holdings and the Borrower hereby acknowledge that: (a) it has been advised by counsel in the negotiation, execution and delivery of this Agreement and the other Credit Documents; (b) (i) the credit facilities provided for hereunder and any related arranging or other services in connection therewith (including in connection with any amendment, waiver or other modification hereof or of any other Credit Document) are an arm’s-length commercial transaction between Holdings and the Borrower, on the one hand, and the Administrative Agent, the L/C Issuer, the Lenders and the other Agents on the other hand, and Holdings, the Borrower and the other Credit Parties are capable of evaluating and understanding and understand and accept the terms, risks and conditions of the transactions contemplated hereby and by the other Credit Documents (including any amendment, waiver or other modification hereof or thereof); (ii) in connection with the process leading to such transaction, each of the Administrative Agent and the other Agents, is and has been acting solely as a principal and is not the financial advisor, agent or fiduciary for any of Holdings, the Borrower, any other Credit Parties or any of their respective Affiliates, stockholders, creditors or employees or any other Person; (iii) neither the Administrative Agent nor any other Agent has assumed or will assume an advisory, agency or fiduciary responsibility in favor of Holdings, the Borrower or any other Credit Party with respect to any of the transactions contemplated hereby or the process leading thereto, including with respect to any amendment, waiver or other modification hereof or of any other Credit Document (irrespective of whether the Administrative Agent or any other Agent has advised or is currently advising Holdings, the Borrower, the other Credit Parties or their respective Affiliates on other matters) and neither the Administrative Agent or other Agent has any obligation to Holdings, the Borrower, the other Credit Parties or their respective Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other Credit Documents; (iv) the Administrative Agent, each other Agent and each Affiliate of the foregoing may be engaged in a broad range of transactions that involve interests that differ from those of Holdings, the Borrower and their respective Affiliates, and neither the Administrative Agent nor any other Agent has any obligation to disclose any of such interests by virtue of any advisory, agency or fiduciary relationship; and (v) neither the Administrative Agent nor any other Agent has provided and none will provide any legal, accounting, regulatory or tax advice with respect to any of the transactions contemplated hereby (including any amendment, waiver or other modification hereof or of any other Credit Document) and Holdings and the Borrower has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate. Holdings and the Borrower agree not to claim that the Administrative Agent or any other Agent has rendered advisory services of any nature or respect, or owes a fiduciary or similar duty to Holdings, the Borrower or any other Affiliates, in connection with the transactions contemplated hereby or the process leading hereto. (c) no joint venture is created hereby or by the other Credit Documents or otherwise exists by virtue of the transactions contemplated hereby among the Lenders or among Holdings and the Borrower, on the one hand, and any Lender, on the other hand. 190 13.15 WAIVERS OF JURY TRIAL HOLDINGS, THE BORROWERS, EACH AGENT AND EACH LENDER HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE (TO THE EXTENT PERMITTED BY APPLICABLE LAW) TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN. 13.16 Confidentiality The Administrative Agent, each L/C Issuer, each other Agent and each Lender shall hold all non-public information furnished by or on behalf of Holdings, the Borrower or any Subsidiary of the Borrower in connection with such Person’s evaluation of whether to become an Agent or Lender hereunder or obtained by such Lender, the Administrative Agent, L/C Issuer or such other Agent pursuant to the requirements of this Agreement or in connection with any amendment, supplement, modification or waiver or proposed amendment, supplement, modification or waiver hereto or the other Credit Documents (“Confidential Information”), confidential; provided that the Administrative Agent, each L/C Issuer, each other Agent and each Lender may make disclosure (a) as required by the order of any court or administrative agency or in any pending legal, judicial or administrative proceeding, or otherwise as required by Applicable Law, regulation or compulsory legal process (in which case such Lender, the Administrative Agent, L/C Issuer or such other Agent shall use commercially reasonable efforts to inform the Borrower promptly thereof to the extent lawfully permitted to do so (except with respect to any audit or examination conducted by bank accountants or any self-regulatory authority or governmental or regulatory authority exercising examination or regulatory authority)), (b) to such Lender’s or the Administrative Agent’s or such L/C Issuer’s or such other Agent’s attorneys, professional advisors, Advisors, independent auditors, trustees or Affiliates involved in the Transactions on a “need to know” basis and who are made aware of and agree to comply with the provisions of this Section 13.16, in each case on a confidential basis (with such Lender, the Administrative Agent, L/C Issuer or such other Agent responsible for such persons’ compliance with this Section 13.16), (c) on a confidential basis to any bona fide prospective Lender, prospective participant, swap counterparty or other party in respect of any other transaction under which payments are to be made by reference to the Borrower, any of its Subsidiaries, Holdings, any of its Subsidiaries or any of their respective obligations (in each case, other than a Disqualified Institution or a Person who the Borrower has affirmatively denied assignment thereto in accordance with Section 13.6), (d) to the extent requested by any bank regulatory authority having jurisdiction over a Lender or its Affiliates (including in any audit or examination conducted by bank accountants or any self-regulatory authority or governmental or regulatory authority exercising examination or regulatory authority), (e) to the extent such information: (i) becomes publicly available other than as a result of a breach of this Section 13.16 or other confidential or fiduciary obligation owed by the Administrative Agent, such other Agent or such Lender to the Borrower or its Affiliates or (ii) becomes available to the Administrative Agent, such other Agent or such Lender on a non-confidential basis from a source other than Holdings, the Borrower or any Subsidiary or on behalf of Holdings, the Borrower or any Subsidiary that, to the knowledge (after due inquiry) the Administrative Agent, such other Agent or such Lender, is not in violation of any confidentiality obligation owed to the Borrower or its Affiliates, (f) to the extent the Borrower shall have consented to such disclosure in writing (which may include through electronic means), 191 (g) as is necessary in protecting and enforcing the rights of the Administrative Agent, such other Agent or such Lender with respect to this Agreement or any other Credit Document, (h) for purposes of establishing any defense available under Applicable Laws, including, without limitation, establishing a “due diligence” defense, (i) to the extent independently developed by the Administrative Agent, such other Agent or such Lender or any Affiliates thereof without reliance on confidential information, (j) on a confidential basis, to the rating agencies in consultation with the Borrower, (k) on a confidential basis, to the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers with respect to the Credit Facilities or market data collectors, similar services providers to the lending industry, as part of a “case study” incorporated into promotional materials and service providers to the Administrative Agent in connection with the administration and management of this Agreement and the Credit Documents, (l) to ClearPar® or any other pricing settlement provider and (m) to the extent required by a potential or actual insurer or reinsurer in connection with providing insurance, reinsurance or other credit risk mitigation coverage under which payments are to be made or may be made by reference to the Borrower, any of its Subsidiaries, Holdings, any of its Subsidiaries and any of their respective obligations, this Agreement or payments hereunder. Each Lender, the Administrative Agent and each other Agent agrees that it will not provide to prospective Transferees or to any pledgee referred to in Section 13.6 or to prospective direct or indirect contractual counterparties to any swap, derivative transactions or other transaction under which payments are to be made by reference to the Borrower, any of its Subsidiaries, Holdings, any of its Subsidiaries or any of their respective obligations to be entered into in connection with or relating to Loans made hereunder any of the Confidential Information unless such Person is advised of and agrees to be bound by the provisions of this Section 13.16 or confidentiality provisions at least as restrictive as those set forth in this Section 13.16. 13.17 Direct Website Communications (a) Holdings and the Borrower may, at their option, provide to the Administrative Agent any information, documents and other materials that they are obligated to furnish to the Administrative Agent pursuant to the Credit Documents, including, all notices, requests, financial statements, financial and other reports, certificates and other information materials, but excluding any such communication (provided that such communications described in clauses (A) - (D) will be delivered pursuant to Section 13.2, including by e-mail) that (A) relates to a request for a new, or a conversion of an existing, Borrowing or other extension of credit (including any election of an interest rate or Interest Period relating thereto), (B) relates to the payment of any principal or other amount due under this Agreement prior to the scheduled date therefor, (C) provides notice of any Default or Event of Default under this Agreement, or (D) is required to be delivered to satisfy any condition precedent to the effectiveness of this Agreement and/or any Borrowing or other extension of credit thereunder (all such non-excluded communications being referred to herein collectively as “Communications”), by transmitting the Communications in an electronic/soft medium in a format reasonably acceptable to the Administrative Agent at an email address separately identified by the Administrative Agent; provided that: (i) upon written request by the Administrative Agent, Holdings or the Borrower shall deliver paper copies of such documents to the Administrative Agent for further distribution to each Lender until a written request to cease delivering paper copies is given by the Administrative Agent and (ii) Holdings or the Borrower shall notify (which may be by facsimile or electronic mail) the Administrative Agent of the posting of any such documents and provide to 192 the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents. Each Lender shall be solely responsible for timely accessing posted documents or requesting delivery of paper copies of such documents from the Administrative Agent and maintaining its copies of such documents. Nothing in this Section 13.17 shall prejudice the right of Holdings, the Borrower, the Administrative Agent, any other Agent or any Lender to give any notice or other communication pursuant to any Credit Document in any other manner specified in such Credit Document. (b) The Administrative Agent agrees that the receipt of the Communications by the Administrative Agent at its e-mail address set forth above shall constitute effective delivery of the Communications to the Administrative Agent for purposes of the Credit Documents. Each Lender agrees that notice to it (as provided in the next sentence) specifying that the Communications have been posted to the Platform shall constitute effective delivery of the Communications to such Lender for purposes of the Credit Documents. Each Lender agrees (A) to notify the Administrative Agent in writing (including by electronic communication) from time to time of such Lender’s e-mail address to which the foregoing notice may be sent by electronic transmission and (B) that the foregoing notice may be sent to such e-mail address. (c) Holdings and the Borrower further agree that the Agents may make the Communications available to the Lenders by posting the Communications on Debtdomain or a substantially similar electronic transmission system (the “Platform”), so long as the access to such Platform is limited (i) to the Agents, the L/C Issuers, the Lenders or any bona fide potential Transferee and (ii) remains subject the confidentiality requirements set forth in Section 13.16. (d) THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE”. THE AGENT PARTIES DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE COMMUNICATIONS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE COMMUNICATIONS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE COMMUNICATIONS OR THE PLATFORM. In no event shall any Agent or their Related Parties (collectively, the “Agent Parties” and each an “Agent Party”) have any liability to Holdings, the Borrower, any Lender, any L/C Issuer or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of Holdings’, the Borrower’s or any Agent’s transmission of Communications through the internet, except to the extent the liability of any Agent Party resulted from such Agent Party’s (or any of its Related Parties’ (other than trustees or advisors)) gross negligence, bad faith or willful misconduct or material breach of the Credit Documents (as determined in a final non-appealable judgment of a court of competent jurisdiction). (e) The Borrower and each Lender acknowledge that certain of the Lenders may be “public-side” Lenders (Lenders that do not wish to receive material non-public information with respect to Holdings, the Borrower, the Subsidiaries of the Borrower or their securities) and, if documents or notices required to be delivered pursuant to the Credit Documents or otherwise are being distributed through the Platform, any document or notice that Holdings or the Borrower
193 has indicated contains only publicly available information with respect to Holdings, the Borrower and the Subsidiaries of the Borrower and their securities may be posted on that portion of the Platform designated for such public-side Lenders. If Holdings or the Borrower has not indicated whether a document or notice delivered contains only publicly available information, the Administrative Agent shall post such document or notice solely on that portion of the Platform designated for Lenders who wish to receive material nonpublic information with respect to Holdings, the Borrower, the Subsidiaries of the Borrower and their securities. Notwithstanding the foregoing, Holdings and the Borrower shall use commercially reasonable efforts to indicate whether any document or notice contains only publicly available information. 13.18 USA PATRIOT Act; Beneficial Ownership Regulation Each Lender hereby notifies the Borrower that pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Patriot Act”), it is 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 will allow such Lender to identify each Credit Party in accordance with the Patriot Act, including, without limitation, with respect to the Borrower only, as applicable, the Beneficial Ownership Regulation (including, for the avoidance of doubt, any information that would result in a change to the list of beneficial owners identified in a Beneficial Ownership Certification). 13.19 Payments Set Aside To the extent that any payment by or on behalf of the Borrower is made to any Agent or any Lender, or any Agent or any Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by such Agent or such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding or otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such setoff had not occurred, and (b) each Lender severally agrees to pay to the Administrative Agent upon demand its applicable share of any amount so recovered from or repaid by any Agent, plus interest thereon from the date of such demand to the date such payment is made at a rate per annum equal to the applicable Overnight Rate from time to time in effect. 13.20 Judgment Currency If, for the purposes of obtaining judgment in any court, it is necessary to convert a sum due hereunder or any other Credit Document in one currency into another currency, the rate of exchange used shall be that at which in accordance with normal banking procedures the Administrative Agent could purchase the first currency with such other currency on the Business Day preceding that on which final judgment is given. The obligation of the Borrower in respect of any such sum due from it to the Administrative Agent or the Lenders hereunder or under the other Credit Documents shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than that in which such sum is denominated in accordance with the applicable provisions of this Agreement (the “Agreement Currency”), be discharged only to the extent that 194 on the Business Day following receipt by the Administrative Agent of any sum adjudged to be so due in the Judgment Currency, the Administrative Agent may in accordance with normal banking procedures purchase the Agreement Currency with the Judgment Currency. If the amount of the Agreement Currency so purchased is less than the sum originally due to the Administrative Agent from the Borrower in the Agreement Currency, the Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Administrative Agent or the Person to whom such obligation was owing against such loss. If the amount of the Agreement Currency so purchased is greater than the sum originally due to the Administrative Agent in such currency, the Administrative Agent agrees to return the amount of any excess to the Borrower (or to any other Person who may be entitled thereto under Applicable Law). 13.21 Cashless Rollovers Notwithstanding anything to the contrary contained in this Agreement or in any other Credit Document, to the extent that any Lender extends the maturity date of, or replaces, renews or refinances, any of its then-existing Revolving Credit Loans by way of any other amendment to this Agreement, in each case, to the extent such extension, replacement, renewal or refinancing is effected by means of a “cashless roll” by such Lender, such extension, replacement, renewal or refinancing shall be deemed to comply with any requirement hereunder or any other Credit Document that such payment be made “in Dollars”, “in immediately available funds”, “in Same Day Funds”, “in cash” or any other similar requirement. 13.22 Acknowledgement and Consent to Bail-In of Affected Financial Institutions Notwithstanding anything to the contrary in any Credit Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Affected Financial Institution arising under any Credit Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of 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: (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 Credit Document; or (iii) the variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of the applicable Resolution Authority. 195 13.23 Acknowledgement Regarding Any Supported QFCs To the extent that the Credit Documents provide support, through a guarantee or otherwise, for Hedge Agreements or any other agreement or instrument that is a QFC (such support, “QFC Credit Support” and each such QFC a “Supported QFC”), the parties acknowledge and agree as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations promulgated thereunder, the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Credit Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of New York and/or of the United States or any other state of the United States): (a) In the event a Covered Entity that is party to a Supported QFC (each, a “Covered Party”) becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws of the United States or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Credit Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Credit Documents were governed by the laws of the United States or a state of the United States. Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect to a Supported QFC or any QFC Credit Support. (b) As used in this Section 13.23, the following terms have the following meanings: “BHC Act Affiliate” of a party means an “affiliate” (as such term is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k)) of such party. “Covered Entity” means any of the following: (i) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b); (ii) a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or (iii) a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b). 196 “Default Right” has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable. “QFC” has the meaning assigned to the term “qualified financial contract” in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D). 13.24 Limitations on Sanctions Provisions Notwithstanding anything set forth herein or in any other Credit Document, Section 8.19 and any other provision in the Credit Documents relating to Sanctions shall not be interpreted or applied to the extent that such obligations and /or representations would violate or expose Holdings, the Borrower or any Subsidiary of the Borrower or any directors, officer or employee thereof to any liability under any anti-boycott or blocking law, regulation or statute that is in force from time to time in the European Union (and/or any of its member states) that are applicable to such Person (including EU Regulation (EC) 2271/96 and § 7 of the German Foreign Trade Ordinance (Verordnung zur Durchführung des Außenwirtschaftsgesetzes (Außenwirtschaftsverordnung – AWV))). The representations given and undertakings assumed by any Credit Party to any other party resident in Germany (gebietsansässig) are made only to the extent that any party resident in Germany (gebietsansässig) would be permitted to receive such representations and undertakings pursuant to §7 of the AWV or any other Applicable Law applicable to such Credit Party resident in Germany. 13.25 Orders Control Notwithstanding anything set forth herein or in any other Credit Document to the contrary, in the event of any conflict between the provisions of this Agreement and those of any other Credit Document, the provisions of this Agreement shall control. To the extent that any specific provision hereof is inconsistent with any of the Orders, the Interim Order or Final Order (as applicable) shall control. 13.26 Lender ERISA Representations (a) Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Credit Party, that at least one of the following is and will be true: (i) such Lender is not using “plan assets” (within the meaning of Section 3(42) of ERISA or otherwise) of one or more Benefit Plans with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit or this Agreement, (ii) the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions
197 involving insurance company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96- 23 (a class exemption for certain transactions determined by in-house asset managers), is applicable with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit and this Agreement, (iii) such Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer and perform the Loans, the Letters of Credit, the Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit and this Agreement satisfies the requirements of sub-sections (b) through (g) of Part I of PTE 84- 14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit and this Agreement, or (iv) such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion, and such Lender. In addition, unless either (1) sub-clause (i) in the immediately preceding clause (a) is true with respect to a Lender or (2) a Lender has provided another representation, warranty and covenant in accordance with sub-clause (iv) in the immediately preceding clause (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Credit Party, that the Administrative Agent is not a fiduciary with respect to the assets of such Lender involved in such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit and this Agreement (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Credit Document or any documents related hereto or thereto). 13.27 Erroneous Payments (a) If the Administrative Agent (x) notifies a Lender, or any Person who has received funds on behalf of a Lender (any such Lender or other recipient (and each of their respective successors and assigns), a “Payment Recipient”) that the Administrative Agent has determined in its sole discretion (whether or not after receipt of any notice under immediately succeeding clause (b)) that any funds (as set forth in such notice from the Administrative Agent) received by such Payment Recipient from the Administrative Agent or any of its Affiliates were erroneously or mistakenly transmitted to, or otherwise erroneously or mistakenly received by, such Payment Recipient (whether or not known to such Lender or other Payment Recipient on its behalf) (any such funds, whether transmitted or received as a payment, prepayment or repayment of principal, interest, fees, distribution or otherwise, individually and collectively, an “Erroneous 198 Payment”) and (y) demands in writing the return of such Erroneous Payment (or a portion thereof), such Erroneous Payment shall at all times remain the property of the Administrative Agent pending its return or repayment as contemplated below in this Section 13.27 and held in trust for the benefit of the Administrative Agent, and such Lender shall (or, with respect to any Payment Recipient who received such funds on its behalf, shall cause such Payment Recipient to) promptly, but in no event later than two Business Days thereafter (or such later date as the Administrative Agent may, in its sole discretion, specify in writing), return to the Administrative Agent the amount of any such Erroneous Payment (or portion thereof) as to which such a demand was made, in same day funds (in the currency so received), together with interest thereon (except to the extent waived in writing by the Administrative Agent) in respect of each day from and including the date such Erroneous Payment (or portion thereof) was received by such Payment Recipient to the date such amount is repaid to the Administrative Agent in same day funds at the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation from time to time in effect. A notice of the Administrative Agent to any Payment Recipient under this clause (a) shall be conclusive, absent manifest error. (b) Without limiting immediately preceding clause (a), each Lender or any Person who has received funds on behalf of a Lender (and each of their respective successors and assigns) agrees that if it receives a payment, prepayment or repayment (whether received as a payment, prepayment or repayment of principal, interest, fees, distribution or otherwise) from the Administrative Agent (or any of its Affiliates) (x) that is in a different amount than, or on a different date from, that specified in this Agreement or in a notice of payment, prepayment or repayment sent by the Administrative Agent (or any of its Affiliates) with respect to such payment, prepayment or repayment, (y) that was not preceded or accompanied by a notice of payment, prepayment or repayment sent by the Administrative Agent (or any of its Affiliates), or (z) that such Lender, or other such recipient, otherwise becomes aware was transmitted, or received, in error or by mistake (in whole or in part), then in each such case: (i) it acknowledges and agrees that (A) in the case of immediately preceding clauses (x) or (y), an error and mistake shall be presumed to have been made (absent written confirmation from the Administrative Agent to the contrary) or (B) an error and mistake has been made (in the case of immediately preceding clause (z)), in each case, with respect to such payment, prepayment or repayment; and (ii) such Lender shall (and shall use commercially reasonable efforts to cause any other recipient that receives funds on its respective behalf to) promptly (and, in all events, within one Business Day of its knowledge of the occurrence of any of the circumstances described in immediately preceding clauses (x), (y) and (z)) notify the Administrative Agent of its receipt of such payment, prepayment or repayment, the details thereof (in reasonable detail) and that it is so notifying the Administrative Agent pursuant to this Section 13.27(b). For the avoidance of doubt, the failure to deliver a notice to the Administrative Agent pursuant to this Section 13.27(b) shall not have any effect on a Payment Recipient’s obligations pursuant to Section 13.27(a) or on whether or not an Erroneous Payment has been made. 199 (c) Each Lender hereby authorizes the Administrative Agent to set off, net and apply any and all amounts at any time owing to such Lender under any Credit Document, or otherwise payable or distributable by the Administrative Agent to such Lender under any Credit Document with respect to any payment of principal, interest, fees or other amounts, against any amount that the Administrative Agent has demanded to be returned under immediately preceding clause (a). (d) (i) In the event that an Erroneous Payment (or portion thereof) is not recovered by the Administrative Agent for any reason, after demand therefor in accordance with immediately preceding clause (a), from any Lender that has received such Erroneous Payment (or portion thereof) (and/or from any Payment Recipient who received such Erroneous Payment (or portion thereof) on its respective behalf) (such unrecovered amount, an “Erroneous Payment Return Deficiency”), upon the Administrative Agent’s notice to such Lender at any time, then effective immediately (with the consideration therefor being acknowledged by the parties hereto), (A) such Lender shall be deemed to have assigned its Loans (but not its Revolving Credit Commitments) with respect to which such Erroneous Payment was made (the “Erroneous Payment Impacted Class”) in an amount equal to the Erroneous Payment Return Deficiency (or such lesser amount as the Administrative Agent may specify) (such assignment of the Loans (but not Revolving Credit Commitments) of the Erroneous Payment Impacted Class, the “Erroneous Payment Deficiency Assignment”) (on a cashless basis and such amount calculated at par plus any accrued and unpaid interest (with the assignment fee to be waived by the Administrative Agent in such instance)), and is hereby (together with the Borrower) deemed to execute and deliver an Assignment and Acceptance (or, to the extent applicable, an agreement incorporating an Assignment and Acceptance by reference pursuant to a Platform as to which the Administrative Agent and such parties are participants) with respect to such Erroneous Payment Deficiency Assignment, and such Lender shall deliver any notes evidencing such Loans to the Borrower or the Administrative Agent (but the failure of such Person to deliver any such notes shall not affect the effectiveness of the foregoing assignment), (B) the Administrative Agent as the assignee Lender shall be deemed to have acquired the Erroneous Payment Deficiency Assignment, (C) upon such deemed acquisition, the Administrative Agent as the assignee Lender shall become a Lender, as applicable, hereunder with respect to such Erroneous Payment Deficiency Assignment and the assigning Lender shall cease to be a Lender, as applicable, hereunder with respect to such Erroneous Payment Deficiency Assignment, excluding, for the avoidance of doubt, its obligations under the indemnification provisions of this Agreement and its applicable Commitments which shall survive as to such assigning Lender, (D) the Administrative Agent and the Borrower shall each be deemed to have waived any consents required under this Agreement to any such Erroneous Payment Deficiency Assignment, and (E) the Administrative Agent will reflect in the Register its ownership interest in the Advances subject to the Erroneous Payment Deficiency Assignment. For the avoidance of doubt, no Erroneous Payment Deficiency Assignment will reduce the Revolving Credit Commitments of any Lender and such Revolving Credit Commitments shall remain available in accordance with the terms of this Agreement. 200 (ii) Subject to Section 13.6 (but excluding, in all events, any assignment consent or approval requirements (other than the requirement to obtain the Borrower’s consent, if any)), the Administrative Agent may, in its discretion, sell any Loans acquired pursuant to an Erroneous Payment Deficiency Assignment and upon receipt of the proceeds of such sale, the Erroneous Payment Return Deficiency owing by the applicable Lender shall be reduced by the net proceeds of the sale of such Loans (or portion thereof), and the Administrative Agent shall retain all other rights, remedies and claims against such Lender (and/or against any recipient that receives funds on its respective behalf). In addition, an Erroneous Payment Return Deficiency owing by the applicable Lender (x) shall be reduced by the proceeds of prepayments or repayments of principal and interest, or other distribution in respect of principal and interest, received by the Administrative Agent on or with respect to any such Loans acquired from such Lender pursuant to an Erroneous Payment Deficiency Assignment (to the extent that any such Advances are then owned by the Administrative Agent) and (y) may, in the sole discretion of the Administrative Agent, be reduced by any amount specified by the Administrative Agent in writing to the applicable Lender from time to time. (e) The parties hereto agree that (x) irrespective of whether the Administrative Agent may be equitably subrogated, in the event that an Erroneous Payment (or portion thereof) is not recovered from any Payment Recipient that has received such Erroneous Payment (or portion thereof) for any reason, the Administrative Agent shall be subrogated to all the rights and interests of such Payment Recipient (and, in the case of any Payment Recipient who has received funds on behalf of a Lender, to the rights and interests of such Lender) under the Credit Documents with respect to such amount (the “Erroneous Payment Subrogation Rights”) (provided that the Borrower’s obligations hereunder and under the other Credit Documents in respect of the Erroneous Payment Subrogation Rights shall not be duplicative of such obligations in respect of Loans that have been assigned to the Administrative Agent under an Erroneous Payment Deficiency Assignment) and (y) an Erroneous Payment shall not pay, prepay, repay, discharge or otherwise satisfy any obligations owed by the Borrower hereunder or under any other Credit Document; provided that this Section 13.27 shall not be interpreted to increase (or accelerate the due date for), or have the effect of increasing (or accelerating the due date for), the obligations of any of the Borrower relative to the amount (and/or timing for payment) of the obligations that would have been payable had such Erroneous Payment not been made by the Administrative Agent; provided, further, that for the avoidance of doubt, immediately preceding clauses (x) and (y) shall not apply to the extent any such Erroneous Payment is, and solely with respect to the amount of such Erroneous Payment that is, comprised of funds received by the Administrative Agent from the Borrower for the purpose of making such Erroneous Payment. (f) To the extent permitted by applicable law, no Payment Recipient shall assert any right or claim to an Erroneous Payment, and hereby waives, and is deemed to waive, any claim, counterclaim, defense or right of set-off or recoupment with respect to any demand, claim or counterclaim by the Administrative Agent for the return of any Erroneous Payment received, including, without limitation, any defense based on “discharge for value” or any similar doctrine. (g) Each party’s obligations, agreements and waivers under this Section 13.27 shall survive the resignation or replacement of the Administrative Agent, any transfer of rights or obligations by, or the replacement of, a Lender, the termination of the Revolving Credit
201 Commitments and/or the repayment, satisfaction or discharge of all obligations (or any portion thereof) owed by the Borrower hereunder or under any Credit Document. [Signature Page Follows][Signature Page to Avaya DIP ABL Credit Agreement] IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their respective authorized officers as of the day and year first above written. AVAYA HOLDINGS CORP., as Holdings By: /s/ John Sullivan Name: John Sullivan Title: Vice President and Corporate Treasurer AVAYA INC., as the Borrower By: /s/ John Sullivan Name: John Sullivan Title: Vice President and Corporate Treasurer [Signature Page to Avaya DIP ABL Credit Agreement] CITIBANK, N.A., as Administrative Agent, Lender, L/C Issuer and Swing Line Lender By: /s/ Allister Chan Name: Allister Chan Title: Vice President [Signature Page to Avaya DIP ABL Credit Agreement] ROYAL BANK OF CANADA, as Lender and L/C Issuer By: /s/ Guido Borrelli Name: /s/ Guido Borrelli Title: Authorized Signatory
[Signature Page to Avaya DIP ABL Credit Agreement] BANK OF AMERICA, N.A., as Lender and L/C Issuer By: /s/ Chad Shimabukuro Name: Chad Shimabukuro Title: Vice President [Signature Page to Avaya DIP ABL Credit Agreement] DEUTSCHE BANK AG NEW YORK BRANCH, as Lender and L/C Issuer By: /s/ Suzan Onal Name: Suzan Onal Title: Vice President By: /s/ Philip Tancorra Name: Philip Tancorra Title: Vice President Annex I ANNEX I Conversion Date Conditions (i) (a) The RSA Plan and the Confirmation Order shall be in full force and effect and no stay thereof shall be in effect, (b) neither the RSA Plan nor the Confirmation Order shall have been amended or modified or any condition contained therein waived, (c) all conditions precedent to the effectiveness of the RSA Plan and the “effective date” under the RSA Plan shall have occurred or will occur substantially concurrently with the Conversion Date, (d) the DIP Term Loans have been, or concurrently with the occurrence of the Conversion Date, are converted into Exit Term Loans (as defined in the DIP Term Loan Credit Agreement in effect as of the date hereof) and (e) all HoldCo Convertible Notes Claims (as defined in the RSA Plan) shall have been discharged under the RSA Plan. (ii) On the Conversion Date, (I) no Loans shall be outstanding and (II) after giving effect to any rights offering that are consummated on or before such date, (a) Indebtedness of the types described in clauses (a) and (b) of the definition of Indebtedness of the Borrower and its Subsidiaries shall not exceed $815 million and (b) the amount of cash and cash equivalents of the Borrower and its Subsidiaries that would be reflected on a balance sheet prepared as of such date on a consolidated basis in accordance with GAAP shall not be less than $400 million. (iii) All cash and Cash Equivalents held in the DIP Proceeds Account and the Foreign Reserve Account shall have been transferred into the Company’s cash management system, and subject to Section 9.18. (iv) The representations and warranties of the Borrower and each other Credit Party contained in Section 8 or any other Credit Document shall be true and correct in all material respects on and as of the Conversion Date; provided that, to the extent that such representations and warranties specifically refer to an earlier date, they shall be true and correct in all material respects as of such earlier date; provided, further that, any representation and warranty that is qualified as to “materiality,” “Material Adverse Effect” or similar language shall be true and correct (after giving effect to any qualification therein) in all respects on such respective dates. (v) No Default or Event of Default shall exist at the time of, or would result from, the occurrence of the Conversion Date or the conversion of the Loans into Exit ABL Loans. (vi) The Administrative Agent shall have received each of the following: (1) Executed counterparts of a credit agreement documenting the terms and conditions of the Exit ABL Facility on the Conversion Date pursuant to Section 2.15, which shall be consistent with Section 2.15 and the Exit ABL Term Sheet. (2) Executed counterparts of the amendment and restatement of credit documents documenting the Exit ABL Facility on the Conversion Date (including, without limitation, an amendment and restatement of the ABL Intercreditor Agreement), in each case to the extent reasonably requested by the Administrative Agent to reflect the effectiveness of the Exit ABL Facility and the conversion of the Loans into Exit ABL Loans on the Conversion Date pursuant to Section 2.15, duly executed by each Credit Party thereto and each of the other parties listed on the signature pages thereto. Annex I (3) Customary legal opinions of Kirkland & Ellis LLP, special New York counsel to the Credit Parties, in form and substance reasonably satisfactory to the Administrative Agent and the Required Lenders. (4) A certificate of an Authorized Officer certifying as to the satisfaction of the conditions set forth in clauses (i), (ii), (iii), (iv) and (v) above on the Conversion Date. (5) A Chief Financial Officer’s certificate certifying that on the Conversion Date, after giving effect to all of the transactions contemplated by the Plan to be consummated on such date, each Credit Party is Solvent. (6) The Administrative Agent and the Lenders shall have received, on or prior to the Conversion Date, a certificate of each Credit Party, dated the Conversion Date and executed by an Authorized Officer of such Credit Party, with appropriate insertions and attachments, including (a) a copy of the resolutions of the board of directors, other managers or general partner of each Credit Party (or a duly authorized committee thereof) authorizing (i) the execution, delivery and performance of the Credit Documents referred to in Section 6.1 (and any agreements relating thereto) to which it is a party and (ii) in the case of the Borrower, the extensions of credit contemplated hereunder, (b) true and complete copies of the Organizational Documents of each Credit Party as of the Conversion Date, (c) good standing certificates (to the extent such concept exists in the relevant jurisdiction of organization) of the Borrower and the Guarantors and (d) the names, titles, incumbency and signature specimens of those representatives of such Credit Party who have been authorized by such resolutions and/or written consents to execute Credit Documents on behalf of such Credit Party. (7) The Administrative Agent and each Lender who has requested the same shall have received (at least one (1) Business Day prior to the Conversion Date) all documentation and other information about the Borrower and each Guarantor as has been reasonably requested in writing prior to the Conversion Date by the Administrative Agent or the Lenders that is required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including without limitation the Patriot Act, to the extent such request has been delivered to the Borrower at least three (3) Business Days prior to the Conversion Date. (8) To the extent on the Conversion Date the Borrower shall qualify as a “legal entity customer” under the Beneficial Ownership Regulation, the Administrative Agent shall have received (at least 3 Business Days prior to the Conversion Date) a Beneficial Ownership Certification in relation to the Borrower. (vii) The Administrative Agent and the Joint Lead Arrangers shall have received payment of all fees and other amounts as the Borrower shall have agreed to pay on or prior to the Conversion Date to the Administrative Agent or any Joint Lead Arranger in connection herewith at the time such amounts were required to be paid, including the reasonable and documented fees and expenses of Davis Polk & Wardwell LLP, special New York counsel to the Joint Lead Arrangers.
Annex I For purposes of clause (iv) above, “Solvent” shall mean, with respect to any Person, that as of the Conversion Date, (i) the present fair saleable value of the property (on a going concern basis) of such Person is greater than the amount that will be required to pay the probable liability, on a consolidated basis, of their debts and other liabilities, subordinated, contingent or otherwise, as such debts and other liabilities become absolute and matured in the ordinary course of business, (ii) such Person is not engaged in, and are not about to engage in, business contemplated as of the date hereof for which they have unreasonably small capital and (iii) such Person is able to pay their debts and liabilities, subordinated, contingent or otherwise, as such liabilities become absolute and matured in the ordinary course of business, and (iv) the fair value of the assets (on a going concern basis) of such Person exceeds, their debts and liabilities, subordinated, contingent or otherwise. For purposes of this definition, the amount of any contingent liability at any time shall be computed as the amount that, in light of all of the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability (irrespective of whether such contingent liabilities meet the criteria for accrual under Statement of Financial Accounting Standard No. 5). For purposes of determining whether the Conversion Date has occurred, each Lender that has executed this Agreement shall be deemed to have consented to, approved or accepted, or to be satisfied with, each document or other matter required hereunder to be consented to or approved by or acceptable or satisfactory to the Administrative Agent or such Lender, as the case may be. The Administrative Agent shall notify the Borrower and the Lenders of the Conversion Date, and such notice shall be conclusive and binding.