AVAYA HOLDINGS CORP.之间于2023年2月24日签订的有担保债权人占有的优先权担保债权协议执行版本， 作为控股公司（《破产法》第11章规定的债务人和占有债务人），AVAYA INC.， 作为借款人（《破产法》第11章规定的债务人和占有债务人），花旗银行，N.A.， 作为行政代理人和抵押代理人，几个贷款人 各方不时向花旗银行，N.A.， 作为花旗银行全球协调员， RBC资本市场，1美国银行股份有限公司和德意志银行股份有限公司 作为联席牵头行及联席账簿管理人1 RBC Capital Markets是加拿大皇家银行及其附属机构资本市场活动的品牌名称。 表10 - 7 i目录第1页第1节定义. 2 1.1定义术语...... 2 1.2其他解释性规定..... 71 1.3会计术语.... 72 1.4舍入. 72 1.5对协议、法律等的引用.... 72 1.6一天的时间...... 73 1.7付款或履约的时间安排.... 73 1.8 [已保留]............................................................................................................. 73 1.9货币等价物一般情况...... 73 1.10贷款及借款的分类..... 73 1.11许可留置权... 73 1.12 [已保留] ............................................................................................................. 74 1.13 [已保留]............................................................................................................. 74 1.14分部。.............................................................................................................. 74第2节信用证的金额和条件..... 74 2.1循环信用借款...... 74 2.2每次借款的最低金额;借款的最高次数.... 76 2.3借款、转换和延续.... 76 2.4资金的支出..... 77 2.5偿还贷款;债务证据.... 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、违法等。.............................................................................80 2.11补偿.......................................................................................................82 2.12出借处....................................................................................变更83 2.13关于某些费用的通知.........................................................................................83 2.14递增学分延期..............................................................................83 2.15改装至ABL设施..........................................................................出口852.16违约贷款人.................................................................................................862.17储备................................................................................................................87 2.18基准替换设置..........................................................................88 2.19优先权和留置权..................................................................................................89 2.20不得解除；索赔的存活期........................................................................92 2.21 Obligations.........................................................................................的付款92 2.22关于现金管理债务和有担保对冲债务的报告............................................................................................................92第3节信用额度和周转额度贷款.......................................................................93 3.1....................................................................................................信用证93 II 3.2摆动额度贷款...............................................................................................102第4款费用；承诺......................................................................................................105 4.1费用.....................................................................................................................105 4.2循环信贷承诺终止或减少，L/C升华或摆动额度升华.......................................................................................106第5节Payments........................................................................................................................106 5.1自愿提前还款.......................................................................................106 5.2强制提前还款.....................................................................................107 5.3付款方式和地点............................................................................108 5.4净付款......................................................................................................109 5.5利息和费用的计算......................................................................113 5.6利率.....................................................................................的限制第113节截止日期前的第6条条件..................................................................114 6.1信用证单据...............................................................................................114 6.2抵押品.............................................................................................................114 6.3法律意见....................................................................................................115 6.4成交证书.............................................................................................115 6.5秘书证书；授权各信用方诉讼程序......115 6.6费用.....................................................................................................................115 6.7陈述和保修..........................................................................115 6.8实质性不良反应......................................................................................116 6.9核定预算；DIP预测......................................................................116 6.10[已保留] ........................................................................................................... 116 6.11 [已保留]...........................................................................................................116 6.12政府批准....................................................................................116 6.13《爱国者法案》；受益所有权条例...................................................116 6.14第11章案例.........................................................................................116 6.15[已保留]...........................................................................................................117 6.16无默认...........................................................................................................117 6.17无诉讼.......................................................................................................117 6.18重组支持协议......................................................................117 6.19借款基础证书；可用性...........................................................117第7条在截止日期后所有信贷展期的先决条件......118 7.1收盘Date........................................................................................................118 7.2订单..................................................................................................................118 7.3[已保留]...........................................................................................................118 7.4陈述和保修..........................................................................118 7.5无违约或违约事件...........................................................................1187.6借款申请；可用性..................................................................118 7.7不得违反法律...........................................................................................118 7.8费用和开支的支付.........................................................................119 7.9实质性不良反应......................................................................................119 7.10第11章案例.........................................................................................119 III 7.11里程碑...........................................................................................................119 7.12[已保留]...........................................................................................................119 7.13无诉讼.......................................................................................................119第8条陈述和保证.................................................................................119 8.1公司地位；符合Laws...........................................................120 8.2公司权力和权威..........................................................................120 8.3无Violation........................................................................................................120 8.4诉讼.............................................................................................................121 8.5保证金法规.............................................................................................121 8.6政府批准....................................................................................121.8.7投资公司法...................................................................................121 8.8真实而完整的Disclosure............................................................................121 8.9[已保留]...........................................................................................................122 8.10税务事项.........................................................................................................122 8.11符合ERISA.....................................................................................122 8.12子公司.........................................................................................................123 8.13知识产权............................................................................................123 8.14环境法...........................................................................................123 8.15物业............................................................................................................124 8.16无默认...........................................................................................................124 8.17担保权益.................................................................................................124 8.18劳工事务......................................................................................................125 8.19受制裁人员；反贪污法；爱国者法案......125 8.20使用Proceeds...................................................................................................125 8.21订单..................................................................................................................125 8.22义务的状况；担保权益的完善和优先次序......第126条第9条平权契诺.................................................................................................126 9.1信息Covenants........................................................................................1269.2图书、记录和检查.........................................................................129 9.3保险...................................................................................的维护130 9.4纳税................................................................................................130 9.5综合企业特许经营权....................................................................130 9.6遵守法规、规例等......................................................131.9.7贷款人调用........................................................................................................131 9.8物业保养..................................................................................131 9.9现金管理订单....................................................................................131 9.10财政年度末.............................................................................................131 9.11额外担保人及授予人...................................................................131 9.12进一步Assurances..............................................................................................132 9.13 Proceeds...................................................................................................的使用133 9.14[已保留]...........................................................................................................133 9.15商务...........................................................................................的变化133 9.16里程碑...........................................................................................................134 9.17破产事项.............................................................................................1349.18现金管理系统................................................................................一百三十五
IV 9.19评价和实地考试....................................................................138 9.20某些债务的偿还......................................................................第138条第10条负面公约.......................................................................................................139 10.1债务限额.................................................................................139 10.2对留置权.............................................................................................的限制142 10.3对根本性变化的限制..................................................................143 10.4处置...................................................................................的限制14410.5投资..................................................................................的限制147 10.6对受限支付的限制.....................................................................149 10.7债务提前还款和Amendments..........................................的限制151 10.8对附属分派的限制...............................................................151 10.9《组织文件........................................................修正案》153 10.10允许的活动和向母公司转移......153 10.11与关联公司................................................................................的交易153 10.12允许的Variance..............................................................................................154 10.13公司间限制...................................................................................155 10.14破产事宜.............................................................................................155 10.15财务契约.............................................................................................第156节第11节违约事件...........................................................................................................156 11.1 Payments.............................................................................................................157份11.2份申述等...........................................................................................15711.3公约............................................................................................................157 11.4其他协议下的违约.......................................................................157 11.5破产案..........................................................................................................15811.6 ERISA.................................................................................................................159 11.7保证............................................................................................................159 11.8安全协议............................................................................................159 11.9判决...........................................................................................................159 11.10控制权变更...............................................................................................159 11.11解雇；转换........................................................................................159 11.12超优先级索赔...........................................................................................160 11.13逗留救济...........................................................................................................16011.14订单；Actions...................................................................................................16011.15预付款..........................................................................................161 11.16[已保留]...........................................................................................................16111.17重组计划............................................................................................161 11.18支持行动.............................................................................................161 11.19销售动议.......................................................................................................161 11.20[已保留] ........................................................................................................... 162 11.21 [已保留]........................................... 162 11.22不利订单.............................162 11.23收益的运用。..............................162第12条代理人......................164 12.1预约.....................................................。。164 v 12.2职责转授...................................165 12.3免责条文..............165 12.4代理人信赖...................167 12.5失责通知书...................................167 12.6对行政代理、抵押代理和其他贷款人的不信赖行为................................................................ 168 12.7赔偿.............168 12.8个以个人身份任职的代理。...............169 12.9继任代理人...............................170 12.10预缴税金...................................171 12.11行政代理可提交索赔证明...........……171 12.12 ABL债权人间协议.......................172 12.13担保文件和担保；担保文件和担保下的代理人....................................。。第172条第13条杂项.....................174 13.1修订、豁免及免除........................174 13.2通知书.......................................177 13.3无豁免；累积补救..................................1.178 13.4申述及保证的存续......。。178 13.5开支的支付；弥偿............178 13.6继承人和受让人；参与和受让............. 180 13.7在某些情况下更换贷款人...……185 13.8调整；抵销..................。186 13.9副本；电子执行........187 13.10可分割性....................................................……187 13.11综合...........................187 13.12管治法律..............……187 13.13服从司法管辖权；豁免............................ 188 13.14致谢.............188 13.15放弃陪审团审判。..........................................189 13.16保密性..............................................……190 13.17直接网站通信........................ 191 13.18《美国爱国者法案》;《受益所有权条例》.193 13.19付款集Aside.............................................................................................193 13.20判定货币.............................................................................................19313.21无现金展期..............................................................................................194 13.22承认并同意受影响金融机构的自救..........................................................................................................194 13.23关于任何受支持的合格FC的确认.....................................194 13.24对制裁条款的限制...................................................................19613.25订单控制....................................................................................................196 13.26贷款人ERISA申述..........................................................................196 13.27错误的Payments............................................................................................197 vi vii附件I转换日期条件附表1.1(A)贷款人承诺附表1.1(B)信用证附表1.1(C)指明现金管理协议附表1.1(D)客户附表8.4诉讼附表8.12附属公司附表8.14环境事宜附表8.15财产事宜附表9.18 DDAS附表9.18(A)除外账户附表10.4预定处置附表10.11成交日期附属公司交易附表13.2通知处理展品A形式的借款通知/通知周转额度借款通知的转换或延续/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债权人间协议附件F表格附件G[已保留]附件H[已保留]附件I转让和假设表格附件J 1-4非美国贷款人证书表格附件K借款基础证书表格附件L临时订单表格附件M差异报告表格
Avaya控股公司、特拉华州的一家公司、破产法第11章下的债务人和占有债务人(“控股”)，以控股公司、Avaya Inc.、特拉华州的一家公司和破产法第11章下的债务人和占有债务人的身份(“借款人”)、本协议的贷款人、本协议的不时当事人、本协议的不时当事人、本协议的发行人和摇摆线贷款人之间签署的一份日期为2023年2月24日的高级有担保债务人占有ABL信贷协议(经不时修订、重述、补充或以其他方式修改)，和花旗银行，北卡罗来纳州，作为行政代理和抵押代理。摘要：鉴于前言和这些摘要中使用的和未定义的大写术语应具有本协议第1.1节对此类术语的各自含义；鉴于，于2023年2月14日(“呈请日期”)，借款人、借款人及借款人的若干国内附属公司(统称为“债务人”)根据破产法第11章向美国德克萨斯州南区破产法院(该法院连同任何其他不时对此案具有专属管辖权的法院及其任何联邦上诉法院，即“破产法院”)提出自愿济助呈请，并开始审理案件。 借款人在贷款项下的所有义务将由担保人担保。 在每种情况下，贷方愿意根据本协议规定的条款和条件向借方提供此类信贷，信用证签发人愿意向借方签发信用证。 此外，贷款和其他债务相对于担保物的各自优先权应在破产法院生效的临时命令和最终命令中规定。 然而，根据临时指令、最终指令和信贷文件授予抵押代理人和贷款人的所有关于贷款的索赔和留置权应受分割的限制。 鉴于本协议所包含的前提和契约及协议，双方特此达成如下协议： 2第1节定义1.1定义的术语如本文所用，除非上下文另有要求，否则以下术语应具有本第1.1节规定的含义：“2023现场检查/评估储备金”是指，在不重复任何其他储备金或项目的情况下，就信贷方而言，作为一个整体，相当于10，000，000美元的金额;前提是，2023年现场检查/评估储备金仅适用于截止日期，直至行政代理完成对贷方的满意现场检查和库存评估之日。 “ABL贷款”应具有本协议引言中提供的含义。“ABL优先抵押品”应具有“ABL债权人间协议”下和定义的含义。为免生疑问，在转换日期后，在当时存在的范围内，DIP收益账户、外汇储备账户以及其中的所有现金和现金等价物应为ABL优先抵押品。“ABR”是指任何一天的年浮动利率，等于(A)联邦基金实际利率加1%的1/2，(B)行政代理不时公开宣布为其“最优惠利率”的该日的有效利率，以及(C)该日(或如果该日不是营业日，则为紧接的前一个营业日)一个月利息期间的调整期限SOFR加上1.00%中的最大者；但如在任何时间，上述(A)或(B)款所述的任何费率低于下限，则(A)或(B)款所述的费率须当作为下限。由于行政代理宣布的此类利率或联邦基金有效利率的变化而导致的ABR的任何变化，应在该变化的公开公告中指定的开业日期或联邦基金有效利率或调整后期限SOFR的生效日期(视情况而定)生效。“ABR贷款”是指以美元计价、以ABR为基础计息的每笔贷款。“ABR术语SOFR确定日”应具有“术语SOFR”定义中规定的含义。3“帐户”系指(A)任何人因提供货物或服务而产生的任何货币义务的付款权利，以及(B)任何“帐户”(在UCC或PPSA中定义，视具体情况而定)、任何“付款无形资产”(根据UCC中的定义)和任何应收账款，以及在每种情况下获得付款和/或补偿的任何权利，不论是否通过履约赚取，在每种情况下都是在该人的经营过程中产生的。“账户债务人”是指对某一账户负有债务的任何人。14.就任何计算而言，“调整期限SOFR”应指等于(A)此类计算的期限SOFR加上(B)期限SOFR调整的年利率；但如果如此确定的调整期限SOFR应小于下限，则调整期限SOFR应被视为下限。“行政代理人”是指花旗银行作为本协议和其他信贷文件项下贷款人的行政代理人，或根据第12.9条规定的任何后续行政代理人。“行政代理人办公室”是指行政代理人的地址和附表13.2所列的适当帐户，或行政代理人可能不时通知借款人和贷款人的其他地址或帐户。“行政调查问卷”是指行政代理人提供的形式的行政调查问卷。“顾问”系指法律顾问、财务顾问、第三方评估师和顾问，就本协议、其他信贷单据和交易的完成向代理人、L/信用证发行人、贷款人及其关联方提供咨询，就法律顾问而言，仅限于代理人的一名主要律师(截至成交日为Davis Polk&Wardwell LLP)，如有必要，还指在每个适当的司法管辖区内有一家当地律师事务所(如果发生实际或被认为存在利益冲突的情况，则受冲突影响的人将该冲突通知借款人并在其后聘请其自己的律师)。另一家律师事务所为所有这些受影响的人(作为一个整体))。“受影响的金融机构”指(A)任何欧洲经济区金融机构或(B)任何美国金融机构。K.金融机构。就任何人而言，“附属公司”是指直接或间接控制、由该人控制或与该人直接或间接共同控制的任何其他人。如果一人直接或间接拥有通过有表决权证券的所有权或通过合同对该另一人的管理层和政策作出指示的权力，则该人应被视为控制该另一人。术语“管制”和“管制”应具有与之相关的含义。“合计季度认购合同ARR收入”对于借款人的每个会计季度是指(A)上一财季最后一天生效的所有认购合同的合计认购合同ARR和(Ii)该会计季度最后一天有效的所有认购合同的合计ARR除以(B)四(4)之和的算术平均值。“季度认购合同GAAP总收入”是指借款人每个会计季度在根据GAAP确定的该会计季度内所有认购合同产生的收入，包括ASC 606与客户签订的合同的规定。“总认购合同ARR”是指在任何时候，当时有效的所有认购合同的总认购合同ARR。“循环信贷承诺总额”是指所有贷款人的循环信贷承诺的总和。“循环信贷风险总额”是指所有贷款人的循环信贷风险风险总额。“代理方”应具有第13.17(D)节规定的含义。“协议”应具有本协议导言段中提供的含义。“协议货币”应具有第13.20节规定的含义。“替代货币”是指经行政代理和L/信用证签发人就信用证的签发批准的每种货币(美元除外)。“反腐败法”应具有第8.19节规定的含义。“适用法律”对任何人而言，指由任何政府当局颁布、公布、施加或订立或同意的任何法律(包括普通法)、成文法、条例、条例、规则、命令、判令、判决、同意判令、令状、强制令、和解协议或政府规定，在每一种情况下，均适用于该人或其任何财产或资产，或对该人或其任何财产或资产适用或具有约束力。
5“适用利率”是指相当于(I)定期SOFR贷款3.00%、(Ii)ABR贷款2.00%和(Iii)信用证费用3.00%的年利率。“适用时间”对于以任何替代货币支付的任何款项，应指由行政代理或有关L/信用证出票人(视具体情况而定)所确定的替代货币结算地当地时间，以便在有关日期按照付款地的正常银行程序及时结算。“适当贷款人”应在任何时候指(A)就循环信贷贷款而言，循环信贷贷款人，(B)[;（gg） ]保留区[（hh）对于任何外国子公司，适用法律强制规定的其他留置权和特权; ]保留区[（jj）（i）根据《统一商法典》第4-210条对托收过程中的项目产生的代收银行的留置权，以及（ii）由于法律规定的存款而产生的有利于银行机构的留置权（包括抵销权）或附属于商品交易账户或其他商品经纪账户的款项，及（iii）因法律或习惯合约而产生的有利于银行或其他金融机构或其他电子支付服务供应商的存款，包括在“汇集存款”或“扫描”账户中的存款（包括抵销权），并且在银行业或金融业的一般惯例范围内;（kk）因借款人或任何子公司在本协议允许或不禁止的正常业务过程中订立的有条件销售、所有权保留、寄售或类似的货物销售或购买安排而产生的留置权; ]保留区[（mm） ]保留区
（一）与银行建立存款关系有关的、与发行债务无关的留置权，（ii）与借款人或任何子公司的汇集存款或转账账户有关，以允许偿还借款人和子公司在正常业务过程中产生的透支或类似义务，或（iii）与借款人或任何子公司在正常业务过程中与客户签订的采购订单和其他协议有关;
保留区
（pp）保险单上的留置权及其收益，以担保保险费的筹措; [57(Qq)对特定存货或其他货品及其收益的留置权，以保证该人在为该人的账户而开立或开立的跟单信用证或银行承兑汇票方面的义务，以便利在正常业务过程中或与以往惯例一致的情况下购买、装运或储存该等存货或货品；(Rr)对借款人或任何附属公司的任何股票或股票等价物或其他合资企业权益的任何限制，规定在任何所有者、参与、共享设施、合资企业、股东、会员、有限责任公司或合伙协议下该人与该人的该等股票或股票等价物或权益的一个或多个其他持有人之间的违约、终止或违约，如果因此而对该等股票或股票等价物或权益产生担保权益或其他留置权以及其他类似的留置权；和(Ss)以借款人或任何子公司为受益人的债务或其他义务的留置权，以及(Ii)以非信用方为受益人的任何其他子公司的留置权。“许可计划”指控股公司或其任何关联公司的任何员工福利计划，以及以任何此类计划的受托人、代理人或其他受托人或管理人的身份行事的任何人。“允许差异”是指在任何适用的差异测试期间，(I)就总收入而言，不低于该差异测试期间预计总收入的85%；(Ii)就运营支出而言，不大于该差异测试期间项目运营支出的115%。“个人”是指任何个人、合伙企业、合资企业、商号、公司、有限责任公司、协会、信托或其他企业或任何政府机构。58“请愿日期”应具有本协定摘要中规定的含义。“计划”是指破产法第11章案件中的债务人的重组计划(可以不时修改、补充或以其他方式修改)，该计划在完成后规定全额偿付债务。为免生疑问，本计划不应损害本信贷协议中在偿还贷款和本协议项下应支付的所有其他款项后仍明确存续的任何条款。“平台”应具有第13.17(C)节规定的含义。“申请前的ABL信贷协议”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(贷款方)、作为L/C发行人和摆动额度贷款方的贷款机构以及花旗银行之间于2017年12月15日签订的特定ABL信贷协议。“先行ABL贷款”是指根据先行ABL信贷协议提供的信贷便利。“重复ABL偿付”指(A)(I)根据重复ABL贷款安排全额偿还所有债务，包括截至还款之日(按非违约合同利率)的利息和费用，以及(Ii)所有现有信用证、现有现金管理债务和现有有担保对冲债务的现金抵押，在每种情况下，均使用初始提取的收益(定义见DIP定期贷款信贷协议)，并根据临时定期贷款DIP令的条款，以及(B)终止其下的所有承诺，并解除与此相关的所有担保和留置权。“请愿前ABL还款函”指借款人与花旗银行之间日期为2023年2月15日的还款函。，作为代理人和L/信用证的发行人，证明之前的美国银行支付。“请愿前债务”是指每一债务人在成为债务人之日未偿和未付的债务。“请愿前可交换票据”是指借款人、担保方和全国协会威尔明顿信托公司根据该契约发行的8.00%可交换优先担保票据，日期为2022年7月12日。作为受托人和票据抵押品代理人。“先行留置权债务”系指与(I)先行ABL贷款机制、(Ii)先行定期贷款信贷机制、(Iii)先行留置权票据和(Iv)先行可交换票据有关的所有债务。59“请愿前第一留置权票据”是指借款人、担保方和全国协会威尔明顿信托公司根据该契约发行的6.125的优先担保第一留置权票据，日期为2020年9月25日。作为受托人和票据抵押品代理人。“预付款”是指因任何(I)预付款债务、(Ii)“关键或外国供应商付款”或(Iii)贸易应付款(包括但不限于回收索赔)或任何贷方的其他请愿前索赔而支付的本金、利息或其他款项(以充分保护或其他方式支付)。“前期定期贷款信用协议”是指日期为2017年12月15日的某些定期贷款信用协议，该协议在本协议日期之前经借款人、控股公司、某些担保方、贷款方和作为行政代理和抵押品代理的高盛银行之间不时修改、重述、修订和重述、补充或以其他方式修改。“请示前定期贷款贷款”是指根据请愿前定期贷款信贷协议提供的信贷安排。“初始留置权”应具有第2.19(A)节中所给出的含义。“按比例分摊”指的是，就每个贷款人在任何时候的循环信贷承诺而言，一个分数(以百分比表示，执行到小数点后第九位)，其分子是该贷款人当时的循环信贷承诺额，其分母是当时的循环信贷承诺总额；但如果任何循环信贷承诺已经终止，则每个贷款人的按比例分摊份额应根据紧接终止之前和根据本条款作出的任何后续转让生效后该贷款人的按比例分摊份额来确定。“被禁止的交易”应具有ERISA第406节或守则第4975(C)节中赋予该术语的含义。“保护性预付款”应具有第2.1(C)节规定的含义。“PTE”是指由美国劳工部颁发的禁止交易类别豁免，因为任何此类豁免都可能不时修改。“QFC”应具有第13.23(B)节规定的含义。“QFC信用支持”应具有第13.23节中给出的含义。60“不动产”是指任何贷款方拥有、租赁或以其他方式持有的土地、建筑物和改善设施的任何权益，但不包括所有经营固定装置和设备。“应收款负债”是指，在任何时候，就任何应收款、证券化或类似融资(不包括在正常业务过程中产生的任何应收账款保理融资)而言，“负债”、零碎的未分割权益(其声明金额可被描述为“净投资”或类似术语，反映投资于该未分割权益的金额)或根据该等应收款、证券化或类似融资产生或发行的其他证券的本金总额或声明金额，在当时的每一种情况下均未偿还。“应收款准备金”是指在不重复任何其他准备金或通过资格标准以其他方式处理或排除的项目的情况下，行政代理根据第2.17节的允许自由裁量权，在确定合格账户在正常业务过程中的可收款性时认为适当的准备金，包括但不限于稀释准备金、对总分类账与应收款账龄之间的差异的调节以及收到的未用现金。“登记册”应具有第13.6(B)(Iii)节规定的含义。“U规则”指不时生效的董事会U规则，以及规定保证金要求的全部或部分规定的任何继承者。“规则X”指不时生效的董事会规则X，以及规定保证金要求的全部或部分规定的任何继承者。就任何特定人士而言，“关联方”是指此人的关联公司(或就第13.5节最后但书的(A)和(B)款及第13.5节倒数第二段而言，指此人的受控关联公司)、此人的董事、高级职员、雇员、代理人、受托人、顾问、供应商和服务提供者，以及直接或间接拥有权力直接或间接指导此人的管理层或政策的任何人，无论是通过行使投票权的能力、合同或其他方式。就以美元计价或以美元计算的债务、利息、手续费、佣金或其他数额的基准替代而言，“相关政府机构”系指董事会或纽约联邦储备银行、董事会或纽约联邦储备银行正式认可或召集的委员会，或其任何继承者。“重整计划”是指在破产法第十一章中的任何一个或者全部案件中进行重整或者清算的计划。]61“可报告事件”是指ERISA第4043条及其规定中所描述的事件，但免除了30天通知期的任何事件除外。“所需贷款人”是指，在任何日期，持有(A)循环信贷敞口(每个贷款人对L/信用证债务、回旋额度贷款和保护性垫款的参与被视为由该贷款人“持有”)和(B)未使用的循环信贷承诺总额的50%以上的贷款人；但为了确定所需的贷款人，任何违约贷款人的循环信贷敞口和循环信贷承诺均应被排除在外。就借款基础而言，“准备金”是指2023年现场考试/评估准备金、可用准备金、库存准备金、应收账款准备金、银行产品准备金、套期保值准备金、优先应付款准备金、分拆准备金以及行政代理认为有必要根据第2.17节设立的合格账户或合格库存保留的任何和所有其他准备金，包括保修准备金。“决议机构”指欧洲经济区决议机构，或就任何英国金融机构而言，指联合王国决议机构。就借款人或任何附属公司而言，“限制性支付”指向其股东派发任何股息或返还任何资本，或因该等股票及股票等价物而向其股东作出任何其他分派、支付或交付财产或现金，或直接或间接赎回、退回、购买或其他收购其任何类别股票或股票等价物以供对价，或为上述任何目的预留任何资金，但仅以其股票或股票等价物(不合格股票除外)支付的股息除外。“重组支持协议”指于2023年2月14日在控股公司、借款人、借款人的若干附属公司、同意的利益相关者(定义见本协议)之间不时生效的若干重组支持协议。就任何投资而言，“回报”是指与该投资有关的任何股息、分配、利息、费用、溢价、资本回报、本金偿还、收入、利润(来自处置或其他)和其他收到或变现的金额。“循环信用借款”是指由适当的贷款人根据第2.1(A)节的规定向同一借款人提供的相同币种和相同类型的循环信用贷款，如果是定期SOFR贷款，则具有相同的利息期限。“循环信贷承诺”对每个贷款人来说，是指其有义务(A)根据第2.1(A)节向借款人提供循环信贷贷款，(B)购买L信用证项下的债务，(C)购买62笔循环额度贷款和(D)购买保护性垫款，在任何时候未偿还的本金总额不得超过所述金额，并在附表1.1(A)“循环信贷承诺”的标题下，或在该贷款人成为本协议一方的转让和假设(视情况而定)中与该贷款人的名称相对之处，该金额可根据本协议不时调整。截止日期，所有贷款人的循环信贷承诺总额为128,125,000美元，因为该金额可能会根据本协议的条款(包括第4.2节)不时调整。对于每个循环信用贷款人而言，“循环信用风险”是指该贷款人的循环信用贷款余额与其按比例或本协议规定的其他适用份额之和，包括当时的L/信用证债务、周转额度贷款和保护性垫款。“循环信贷贷款人”是指在任何时候有循环信贷承诺的任何贷款人，或者如果循环信贷承诺已经终止，则指任何循环信贷风险敞口。“循环信用贷款”应具有第2.1(A)节规定的含义。“RSA计划”是指根据破产法第11章，Avaya Inc.及其债务人附属公司的某些联合预打包重组计划[ECF第50号]可不时以不会对贷款人造成重大不利的方式予以修订。“S”系指标准普尔金融服务有限责任公司或其业务合并或合并后的任何继承人。“当日资金”指的是，就美元付款和付款而言，可立即使用的资金。“被制裁人”是指任何时候被制裁禁止与之打交道的人。“制裁”应具有第8.19节规定的含义。“制裁法”应具有第8.19节规定的含义。“美国证券交易委员会”系指美国证券交易委员会或其任何后续机构。“有担保现金管理协议”指借款人或任何附属公司与任何现金管理银行(任何指定的现金管理银行除外)之间签订的任何现金管理协议，并由借款人以书面形式指定为“有担保现金管理义务”，因此将成为本协议和担保协议项下的义务。63“有担保套期保值协议”是指借款人或任何附属公司与任何对冲银行(任何指定的对冲银行除外)之间签订并由借款人以书面形式指定为“有担保对冲义务”的任何套期保值协议，由此将成为本协议和担保协议项下的义务。“有担保的指定现金管理协议”是指借款人或任何子公司与指定的现金管理银行之间签订并由借款人以书面形式指定为“有担保的指定现金管理义务”的任何现金管理协议，由此将成为本协议和担保协议项下的义务。“有担保的特定套期保值协议”是指借款人或任何子公司与任何特定的对冲银行之间签订的任何套期保值协议，该协议由借款人以书面形式指定为“有担保的特定对冲义务”，因此将成为本协议和担保协议项下的义务。“证券法”系指经修订的1933年证券法及其颁布的规则和条例。“担保协议”是指借款人、其他设保人一方和担保代理人为担保当事人的利益而签订的担保协议，其日期为截止日期(如该协议可能不时被修正、重述、修正和重述、补充或以其他方式修改或替换)。“担保文件”统称为：(A)担保协议，(B)订单，(C)抵押(在行政代理要求的范围内)，(D)每项知识产权担保协议，(E)ABL债权人间协议和(F)根据第9.11或9.12节或根据任何其他此类担保文件签署和交付的每份其他担保协议或其他文书或文件。担保文件(命令除外)应补充但不限于根据命令授予抵押品的留置权和担保权益。“缩水”是指被借款人确认为丢失、放错地方或被盗的存货。“收缩准备金”是指行政代理合理估计为等于所需金额的金额，以便在适用贷方的当前总分类账中反映的收缩将合理地相当于作为适用贷方最近实物库存的一部分计算的收缩(应理解并同意，行政代理建立的收缩准备金不得复制在适用贷方的当前总账中反映的任何收缩，或由适用贷方为计算借款基数而估计的任何收缩)。“塞拉”应指塞拉通信国际有限责任公司。“SOFR”指与SOFR管理人管理的担保隔夜融资利率相等的利率。“SOFR管理人”指纽约联邦储备银行(或有担保隔夜融资利率的继任管理人)。“指定现金管理银行”是指，(I)仅从截止日期起至截止日期后90天(或行政代理酌情商定的较后日期)，本协议附表1.1(C)所列现金管理协议的提供者，只要每个该指定现金管理银行已指定行政代理为其代理人，并书面同意受(1)第11.23款的约束，如同它是本协议的一方，以及(2)第2款。22.“指定对冲银行”应指：(I)仅从截止日期起至截止日期后90天为止(或行政代理酌情商定的较后日期)；本协议附表1.1(C)所列套期保值协议的提供人，只要每家该等指定对冲银行均已委任行政代理为其代理人，并以书面同意受(1)第11.23节及(2)第2.22节及本协议第12节条文的约束，犹如其为贷款人，及(Ii)任何对冲银行就已根据第2.22节被指定为“最后退出”对冲协议及指定有担保对冲协议的任何其他对冲协议。“指定的超额可获得性”是指(I)超额可获得性和(Ii)当时借款基数超过循环信贷承诺总额的金额之和，按本条款(Ii)不超过循环信贷承诺总额的2.50%为限。一种货币的“即期汇率”是指行政代理机构或L/信用证发行人(视情况而定)所确定的汇率，即以即期汇率的身份行事的人在上午11点左右通过其主要外汇交易机构以另一种货币购买该货币时所报的汇率。在计算外汇之日的前两个工作日；但行政代理或任何L/信用证发行人可以从其他金融机构获得该即期汇率[65由行政代理人或L汇票出票人(视具体情况而定)指定，如果以上述身份行事的人在确定之日尚无任何此类货币的现货买入汇率；且条件是L汇票出票人可使用在计算外汇之日所报的即期汇率。“SPV”应具有第13.6(F)节规定的含义。“约定到期日”，就任何一系列债务的本金分期付款而言，是指管理该债务的原始文件中计划支付该本金的日期，不包括在原定偿付日期之前偿还、赎回或回购该本金的任何或有债务。“股份”指公司、合伙、有限责任公司或同等实体的一股或多股股本(不论面值为普通股、优先股、普通股或优先股，视属何情况而定)、实益、合伙或会员权益、参与或其他等价物(不论如何指定)，不论是否有投票权，但任何证明负债可转换或可交换为股票的票据，除非及直至该票据如此转换或交换，否则不得被视为股票；此外，仅就任何氟氯化碳或氟氯化碳控股公司而言，股票还应包括为美国联邦所得税目的而视为股票的任何票据或证券。美国联邦所得税的目的。“认购合同”是指借款人及其子公司签订的每份客户认购合同。“认购合同收入”是指就每份认购合同而言，相当于(1)每月订货价值乘以(2)12个月的金额。“任何人的附属公司”指并包括：(A)任何人持有超过50%股份的任何一个或多个类别的股份，而根据其条款有权选出该法团过半数董事的任何一个或多个类别的股份(不论该法团的任何一个或多个类别的股份在当时是否有或可能因任何或有任何意外情况的发生而具有投票权)在当时由该人直接或间接透过附属公司拥有；及(B)任何有限责任公司、无限公司、合伙企业、协会、该人士当时直接或间接透过附属公司拥有超过50%有表决权权益的合营企业或其他66个实体，或为控股普通合伙人。除非另有明文规定，本合同中所有提及的“子公司”均指借款人的子公司。“附属担保人”是指借款人的附属担保人。“超级多数贷款人”应指在任何日期持有(A)循环信贷敞口(每个贷款人对L/C债务、回旋额度贷款和保护性垫款的参与被视为由该贷款人“持有”)和(B)未使用的循环信贷承诺总额的66.7%以上的贷款人；但为了确定超级多数贷款人，任何违约贷款人的循环信贷敞口和循环信贷承诺均应被排除在外。“支持的QFC”应具有第13节中提供的含义。23.“调查”系指对构成重大不动产(及其所有改进)的任何自有不动产进行的调查，包括基于航空摄影的调查，该调查是(A)(I)由注册测量师或工程师准备的，(Ii)由测量师(根据所涉房地产的大小、类型和位置以合理的方式)向行政代理人和抵押品代理人证明的，以及(Iii)足够的，单独或与在适用司法管辖区惯用的调查(或“不改变”)有关的形式和实质的宣誓书。适用的所有权公司(在适用法律允许的范围内)删除或修订与构成重大不动产的所有权保险保单(或承诺)有关的所有标准测量例外，并在适用司法管辖区可用的范围内签发抵押品代理人可能合理要求的背书或其他测量保险，或(B)抵押品代理人以其他方式合理接受，并考虑到所承保的不动产的大小、类型和位置。“互换义务”对于任何担保人而言，是指根据构成商品交易法第1a(47)节所指的“互换”的任何协议、合同或交易支付或履行的任何义务。“周转额度借款”是指根据第3.2节的规定，以相同货币向同一借款人借入周转额度贷款。“摆动额度贷款人”是指花旗银行，其作为摆动额度贷款的提供者，或本合同项下借款人的任何后续的摆动额度贷款人。“周转额度贷款”应具有第3.2(A)节规定的含义。“摆动额度借款通知”系指根据第3.2(B)节的规定发出的摆动额度借款通知，如以书面形式发出，实质上应采用附件A的形式。“转动线升华”指的是等于(A)15,000,000美元和(B)循环信贷承诺总额中较小者的数额。摆动额度升华是循环信贷承诺的一部分，而不是补充。“税”是指任何政府当局目前或将来征收的任何或所有税收、关税、征税、征收、评税、扣除、扣缴或其他类似费用，不论是以单独、合并、统一、合并或其他基础计算的，以及与上述有关的任何利息、罚款、罚款或附加税。“条款优先抵押品”应具有ABL债权人间协议下和定义的含义。“SOFR期限”是指：(A)对于定期SOFR贷款的任何计算，与适用利息期相当的期限的SOFR参考利率在该利息期的第一天之前两(2)个工作日(该日为“定期SOFR确定日”)，由SOFR管理人公布；然而，如果截至下午5：00。(纽约市时间)在任何定期SOFR确定日，适用期限SOFR参考利率尚未由SOFR管理人发布，并且关于SOFR参考利率的基准替换日期尚未出现，则SOFR将是SOFR管理人在该期间SOFR管理人发布该期限SOFR参考利率的前一个营业日发布的该期限SOFR参考利率，只要该首个前一个营业日不超过该周期性SOFR确定日之前三(3)个工作日，和(B)对于任何一天的ABR贷款的任何计算，期限为一个月的期限SOFR参考利率在该天之前两(2)个工作日的日期(该日，“ABR Term 68 SOFR确定日”)，因为该利率由SOFR管理人术语公布；然而，如果截至下午5：00，(纽约市时间)在任何ABR术语SOFR确定日，SOFR管理人尚未公布适用期限的SOFR参考汇率，且关于SOFR参考利率的基准更换日期尚未出现，则SOFR将是SOFR管理员在该期限SOFR参考利率公布的前一个营业日发布的该期限的SOFR参考利率，只要该首个营业日不超过该ABR SOFR确定日之前的三(3)个工作日；此外，如果按照上述规定(包括根据上文(A)或(B)款的但书)确定的SOFR条款应小于下限，则SOFR条款应被视为下限。年利率为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决定权选择的SOFR参考率的继任管理人)。“定期SOFR贷款”是指每笔以美元计价的贷款，按调整后的SOFR期限计息。“期限SOFR参考利率”是指基于SOFR的前瞻性期限利率。“交易费用”是指控股公司、借款人或其任何附属公司因交易、本协议和其他信贷文件以及本协议拟进行的交易而产生或支付的任何费用、成本、负债或支出，包括与贷款的承诺、谈判、辛迪加、文件编制和关闭(以及与抵押品相关的关闭后行动)有关的任何费用、成本、负债或支出。“交易”统称指(I)与DIP定期贷款信贷协议有关的信贷文件及最终文件的签立及融资，(Ii)申请前的ABL偿付，(Iii)重组支持协议预期进行的其他交易，及(Iv)支付与上述各项有关的费用、成本、负债及开支，以及完成与前述有关的任何其他交易。“受让人”应具有第13.6(E)节规定的含义。对于任何以美元计价的循环信贷贷款，“类型”应指其性质为ABR贷款或SOFR定期贷款。]69“UCC”系指纽约州或任何其他州的统一商法典，其法律要求适用于完善任何抵押品上的担保权益。“英国金融机构”是指任何BBRD业务(该术语由英国审慎监管局颁布的PRA规则手册(经不时修订)界定)或属于由英国金融市场行为监管局颁布的FCA手册(经不时修订)IFPRU 11.6范围内的任何人，包括某些信贷机构和投资公司，以及这些信贷机构或投资公司的某些附属公司。“联合王国决议机构”指英格兰银行及任何其他负责英国金融机构决议的公共行政当局。“未调整基准替换”是指适用的基准替换，不包括相关的基准替换调整。“未设押财产”应具有第2.19(A)节规定的含义。任何养恤金计划的“无资金流动负债”应指养老金计划截至最近一个计划年度结束时的累计福利债务(定义见财务会计准则第87号(“财务会计准则87”))，按照截止日期有效的财务会计准则第87号确定，超过可分配给该计划的资产的公平市场价值的金额。“未重新分配部分”应具有第2.16(A)(Ii)节规定的含义。“未报销金额”应具有第3.1(C)(Iii)节规定的含义。“不受限制现金”指于该日在借款人及附属公司的综合资产负债表上所列现金及现金等价物账内的所有现金及现金等价物，但不包括任何现金及现金等价物，而该等现金及现金等价物的优先留置权(根据准许产权负担定义第(X)或(Bb)款所准许的任何留置权除外)是为其他债务或债务的利益而授予的(但可包括担保债务的现金及现金等价物，以及根据订单及/或ABL债权人间协议所订的DIP定期贷款信贷协议下的债务)。“未使用金额”是指，在任何一天，循环信贷承诺总额减去循环信贷贷款总额减去L/信用证债务总额；但未使用金额不得小于零。70“美国政府证券营业日”指任何营业日，但证券业和金融市场协会、纽约证券交易所或纽约联邦储备银行因美国联邦法律或纽约州法律(视具体情况而定)为法定假日而不营业的营业日除外。“美国贷方”应具有第5.4(H)节规定的含义。“美国受托人”是指美国受托人。“差异报告”应具有第9.1(C)节规定的含义。“差异测试期”应指(I)最初，请愿日后的前两周，(Ii)第二，请愿日后的第一个四周，以及(Iii)之后，每个滚动四周的期限，在前一个差异测试期后两周结束。美国联邦所得税的目的。“每周监控期”是指(A)任何违约事件发生和持续期间，或(B)从规定的超额可获得性小于(X)24,000,000美元和(Y)20两者中较大者之日开始的一段时间。连续三(3)个工作日的额度上限为0%，并在规定的超额可用额度在连续二十个日历日内至少大于额度上限的(X)$24,000,000和(Y)20.0%的日期结束。就一名人士对附属公司的拥有权而言，“全资拥有”指该附属公司的所有股份(根据适用法律规定的董事合资格股份或代名人或其他类似股份除外)由该人士或该人士的另一间全资附属公司拥有。“退出责任”是指因完全或部分退出多雇主计划而对多雇主计划承担的责任，这些术语在ERISA第四章中有定义。 1.2其他解释性条款关于本协议和其他信用证文件，除非本协议或其他信用证文件中另有规定：（a）定义术语的含义同样适用于定义术语的单数和复数形式。 (b)信用证文件中使用的“本”、“本”、“本”及“本协议项下”及类似含义的词语，应指该信用证文件的整体，而非其任何特定条款。 (c)条、节、附件和附表的引用均指出现此类引用的信用证单据。 (d)术语“包括”是作为示例而非限制。 (e)“文件”一词包括任何及所有文书、文件、协议、证书、通知、报告、财务报表和其他书面材料，无论其证据如何，无论是实物形式还是电子形式。 (f)“资产”和“财产”两词应解释为具有相同的含义和效力，是指任何和所有有形和无形资产和财产，包括现金、证券、账户和合同权利。 (g)所有提及的任何信贷方或其子公司的“知识”或“意识”指信贷方或该子公司的授权官员的实际知识。 (h)在计算由指明日期至较后指明日期的期间时，“由”一词指“由及包括”;“至”及“直至”各指“至但不包括”;而“至”一词指“至及包括”。 (i)本协议中提及的任何人士应被解释为包括该人士的继任者和允许的受让人，以及在任何政府机构的情况下，应包括继承其任何或所有职能的任何其他政府机构。 72（k）为了确定是否符合第10.1、10.2、10.3、10.4、10.5、10.6、10.7、10.11和1.1，(I)如果任何留置权、投资、负债、合并或类似的基本变更、处置、限制支付、关联交易或合同义务满足根据该条款任何条款允许的一种以上交易类别的标准，则该交易(或其部分)应在任何时间和不时根据借款人在该时间自行决定的一项或多项此类条款予以允许；只要信用证单据项下的所有未偿债务在任何时候都将被视为仅根据第10.1款(A)项中的例外情况而产生，以及(Ii)对于任何留置权、投资、负债、合并或类似的基本变更、处置、限制性付款、关联交易、合同义务或其他适用的美元以外的交易，任何违约或违约事件均不应被视为仅由于上述留置权、投资、负债、合并或类似的根本变更、处置、限制性付款或其他适用交易之后货币兑换率的变化而发生。关联交易、合同义务或其他适用的交易(只要该等留置权、投资、负债、合并、合并或类似的根本性改变、处置、限制付款、关联交易、合同义务或其他适用的交易)是在根据本协议允许发生或进行的时候进行的)。1.1.4根据本协议，借款人必须维持的任何财务比率(或为根据本协议允许的特定行动而必须满足的任何财务比率)的计算方法是：将适当的部分除以另一个部分，将结果进位到比本协议所表示的该比率的位数多一位，并将结果向上或向下舍入到最接近的数字(如果没有最接近的数字，则进行向上舍入)。1.5对协议、法律等的提述除非本合同另有明确规定，否则(A)对组织文件、协议(包括信用证文件)和其他合同要求的提及应被视为包括对其的所有后续修正、重述、修正和重述、延期、补充和其他修改，但仅限于此等修正、重述、修正和重述、延期、补充和其他修改是任何信用证单据允许或不禁止的，以及(B)对任何适用法律的提及应包括合并、修正、取代、补充或解释该适用法律的所有法律和法规规定。[73 1.6除另有说明外，本文件中提及的所有时间均为纽约市时间(适用的夏令时或标准时间)。1.7付款或履行的时间如声称任何债务或履行任何契诺、责任或义务的日期并非营业日，则该等付款(利息期间的定义所述除外)或履行的日期应延至紧接的下一个营业日，而有关时间的延长应反映在计算利息或费用(视何者适用而定)中。1.8],
21 (g) [已保留]1.9货币等价物一般(A)行政代理应确定每个重估日期的即期汇率，用于计算以替代货币计价的信用延期美元金额和未偿还金额。该等即期汇率应自该重估日期起生效，并应为在下一重估日期之前在适用货币之间兑换任何金额时所采用的即期汇率。(B)在本协议中，凡与以替代货币计价的信用证的签发、修改或延期有关的，所要求的最低或倍数金额均以美元表示，但信用证以替代货币计价，则该金额应为该替代货币金额的相关等值金额(四舍五入至该替代货币的最接近单位，单位的0.5向上舍入)，由行政代理人或适用的L/信用证发票人(视情况而定)确定。(C)在确定以美元计价的“固定数额”货币篮子下的任何债务、投资、留置权、处分、限制性付款或任何其他数额是否可以美元以外的货币发生时，应根据发生这种情况时所确定的货币汇率(如果是任何循环债务或承诺作出的任何数额，则为首次承担时)确定该数额；但在该等债务、投资、留置权、处分、有限制付款或该等其他款项发生或作出后，任何违约或违约事件不得纯粹因汇率的改变而被视为已发生。1.10贷款和借款的分类就本协议而言，循环信贷贷款可按类型分类和指代(例如，“定期SOFR贷款”)。借款也可以按类型分类和指代(例如，“SOFR借款”一词)。1.11允许留置权74第10.2节规定的允许留置权的存在，并不打算从属于或推迟，也不应解释为从属于或推迟根据任何信用证文件设立的任何留置权，或解释为从属于或推迟根据任何信用证文件设立的任何留置权；不言而喻，任何此类留置权和根据任何信用证文件设立的留置权的优先权应由适用法律的命令和实施决定。1.12[113贷方、本协议的终止、贷款的支付以及根据本协议和任何其他信贷文件应支付的所有其他款项。5.5利息及费用的计算当ABR是根据行政代理不时公布为其“最优惠利率”的日期的有效利率厘定时，ABR贷款的所有利息计算应以365天或366天(视属何情况而定)的一年及实际经过的天数为基础。所有其他费用和利息的计算应以一年360天和实际经过的天数为基础(如果适用，支付的费用或利息将比按一年365天计算的费用或利息多)。每笔贷款的利息应在贷款发放之日产生，而贷款或其任何部分不得在贷款支付之日产生利息；但在贷款当日偿还的任何贷款，除第5.3(A)节另有规定外，应计入一天的利息。行政代理对本合同项下利率或费用的每一次确定都应是决定性的，并对所有目的都具有约束力，没有明显的错误。5.6利率限制(A)任何付款不得超过合法利率。尽管本协议有任何其他条款，借款人没有义务支付本协议项下或与本协议相关的或其他方面超过任何适用法律允许或符合的金额或利率的债务的任何利息或其他金额。(B)以最高合法利率付款。如果借款人没有义务支付第5.6(A)条规定的款项，则借款人应在适用法律允许或符合的最大范围内支付此类款项。如果本协议或任何其他信贷文件的任何条款规定借款人有义务向任何贷款人支付利息或其他应付款项，其金额或利率将被任何适用法律禁止，则尽管有此类规定，该金额或利率应被视为已被追溯调整至适用法律不会禁止的最高金额或利率(视情况而定)，这种调整应在必要的范围内通过降低第2.8款规定借款人向受影响贷款人支付的金额或利率来实现。(D)传播。在确定本协议项下的利息是否超过任何适用法律所允许或符合的金额或利率时，利息总额应在本协议的整个期限内分摊，直至付清为止。(E)尽管有上述规定，但在实施上述所有调整后，如果任何贷款人从借款人那里收到的金额超过任何适用法律允许的最高金额，则借款人有权通过书面通知行政代理从该贷款人那里获得相当于该超出的金额的补偿，在偿还之前，该金额应被视为该贷款人应支付给借款人的金额。第六节成交日前的条件每一位贷款人和每一位L信用证发行人在成交之日对本合同项下的信用展期的义务取决于下列条件的满足。6.1信贷文件(A)在每一种情况下，行政代理应已收到(I)由控股公司和借款人的授权人员签署和交付的本协议，(Ii)在截止日期由每个担保人的授权人员签署和交付的担保，(Iii)在截止日期由设保人一方的授权人员签署和交付的担保协议，以及(Iv)由设保人一方的授权人员在截止日期时签署并交付的担保协议，以及(Iv)本协议。自截止日期起，由各贷款方的DIP定期贷款代理和一名授权官员执行和交付。(B)如果在截止日期进行信用证延期(视为已签发现有信用证除外)，行政代理以及相关的L/信用证发行人或循环贷款人(如适用)应已收到符合本协议要求的借款通知或信用证申请。6.2抵押品(A)于结算日存在的所有非债务人附属票据/应收账款须由境外公司间票据证明，并须已根据担保协议及/或命令质押。(B)应将涵盖其中所述抵押品的适当的《统一商法典》融资报表交付抵押品代理人。(D)对于构成“建筑物”或“流动房屋”(根据防洪法的设想)所在的抵押品的所有自有不动产，已完成的“贷款使用年限”联邦紧急事务管理署标准洪水灾害确定(如果该不动产位于特别洪水危险地区，连同(A)由借款人和与之相关的每一方正式签立的关于特殊洪水危险地区状况和洪水灾害援助的通知，以及(B)形式和实质合理地令行政代理人满意的洪水保险证据)。行政代理可根据其合理的酌情决定权，选择在成交日期后15个工作日内(或所需贷款人可自行决定批准的较长期限内)满足第6.2节规定的先决条件。115 6.3法律意见行政代理和贷款人应已收到贷方纽约特别法律顾问Kirkland&Ellis LLP签署的惯常法律意见，其形式和实质应令行政代理和所需贷款人合理满意。控股公司、借款人、其他信贷方和行政代理特此指示该律师提供此类法律意见。6.4成交证书行政代理应已收到贷方关于第6.7、6.8和6.16节所述条件的证书，成交日期为成交日期。6.5秘书证书；各信用方程序的授权行政代理和贷款人应在截止日期或之前收到各信用方的证书，该证书注明截止日期，并由该信用方的授权官员签署，并附有适当的插页和附件，包括：(A)各信用方(或其正式授权的委员会)的董事会、其他经理或普通合伙人的决议副本，授权(I)签署、交付和履行其为一方的第6.1条所指的信用证文件(及其任何相关协议)，以及(Ii)在借款人的情况下，(B)截止日期各信用方的组织文件的真实和完整的副本，(C)借款人和担保人的良好信誉证书(如果该概念存在于该组织的相关司法管辖区内)，以及(D)经该决议和/或书面同意授权代表该信用方签署信用证文件的该信用方代表的姓名、头衔、任职资格和签名样本。6.6费用根据承诺书(包括其中提及的费用函)在成交日支付的所有费用以及根据承诺书和本协议在成交日支付的合理且有文件记录的自付费用，如果是费用，至少在成交日前一(1)个营业日开具发票，应已支付，或应基本上与成交日同时支付。6.116 6.8重大不利影响自2022年9月30日以来，不应发生任何个别或合计构成或合理预期将构成重大不利影响的情况或状况。6.9批准的预算；DIP预测行政代理和贷款人应已收到(A)初步批准的预算(日期不超过请愿日期前五(5)天)和(B)DIP预测，在每种情况下，其形式和实质均为行政代理和所需的贷款人所接受。6.10]已保留
已保留
6.12在临时命令及破产法院的任何其他命令生效后，所有必要的政府及第三方同意及批准须于结算日或之前取得(未施加任何不可被要求的贷款人合理接受的不利条件)，并应继续有效；而在临时命令及破产法院于结算日或之前订立的任何其他命令生效后，任何法律或法规均不适用于限制、阻止或施加重大不利条件于结算日或之前的任何法律或法规。6.13《爱国者法案》；《实益所有权条例》(A)行政代理和每个提出要求的贷款人应已收到(至少在截止日期前一(1)个工作日)行政代理或贷款人在截止日期前以书面形式合理要求的关于借款人和每位担保人的所有文件和其他信息，这是监管机构根据适用的《了解您的客户》和反洗钱规则和法规(包括但不限于《爱国者法案》)所要求的，但前提是此类请求已在截止日期前至少三(3)个工作日交付给借款人。(B)在借款人符合《实益所有权条例》规定的“法人客户”资格的情况下，行政代理应已(至少在截止日期前3个工作日)获得与借款人有关的实益所有权证明。6.14《破产法》第11章案例(A)请愿日期应当已经发生。[117(B)临时命令的生效日期应已发生，临时命令不得被撤销、撤销、修改、修改或搁置。(C)]; (w) [已保留]。(D)破产法第7章或第11章所指的受托人或具有超出破产法第1106(A)(3)及(4)条所列权力的审查员，不得在第11章的任何个案中获委任。6.15
已保留[6.16无违约在截止日期时不存在违约或违约事件，或因在该日期进行信用延期(如有)或使用信用延期所得款项而产生的违约或违约事件。6.17任何诉讼不得在任何法院或任何仲裁员面前或在任何政府机构(破产法第11章的案件除外)中存在任何未被搁置的诉讼、诉讼、调查、诉讼或程序，这些诉讼、诉讼、调查、诉讼或程序不应合理地预期会导致实质性的不利影响。6.18重组支持协议重组支持协议应于截止日期全面生效，不得以对贷款人有重大不利的方式进行修订或修改。6.19借款基础证书；可用性(A)行政代理应已收到一份借款基础证书，其中列出了截至2023年1月31日的借款基础。(B)在实施初始信贷延期后，应满足可用性要求。为确定在截止日期当日是否符合第6款规定的条件，或在截止日期后的任何信贷延期日期符合第7款规定的条件，已签署或授权签署本协议的每一贷款人应被视为已同意、批准或接受或满意根据本第6款要求贷款人同意或批准、可接受或满意的每一文件或其他事项，除非行政代理在该日期之前收到该贷款人的通知，说明其反对意见。所有授信延期的先决条件在截止日期后，每个贷款人和每个L/信用证发行人有义务在截止日期后进行授信延期(不包括任何期限的SOFR贷款的任何转换或延续)，但必须在所有实质性方面满足以下规定的条件。7.1截止日期截止日期应已发生。7.2命令临时命令或最终命令(视情况而定)应具有完全效力和作用，不得被腾出或推翻，不得受到暂缓执行，且未经所需贷款人事先书面同意，不得修改或修改。7.3]已保留[7.4条款8或任何其他信用证文件中包含的借款人和其他信用方的陈述和担保，在每次信贷延期之日应在所有重要方面真实和正确；但如果该陈述和保证明确提及较早的日期，则在该较早日期在所有重要方面均应真实和正确；此外，任何关于“重要性”、“重大不利影响”或类似措辞的陈述和保证应(在其中的任何限定生效后)在该各自的日期在所有方面真实和正确。7.5无违约或违约事件在建议的信贷延期或其收益的运用时不应存在违约或违约事件，也不会因此而导致违约或违约事件。7.6.借款申请；可获得性(A)行政代理以及相关的L/信用证发行人或回旋贷款人(如适用)应已收到符合本合同要求的借款通知或信用证申请。(B)在实施信贷延期后，应满足可用性要求。7.7不违反法律在适用信贷延期之日或之前生效的命令和破产法院的任何其他119命令生效后，此类信贷延期不得违反适用于信贷当事人的适用法律的任何要求，且不得被临时、初步或永久禁止。7.8费用和开支的支付行政代理和贷款人应在该日期或之前，按照临时命令规定的程序和行政代理先前书面同意的金额或根据信用证文件(如有)收到的费用，以及贷方根据承诺函、本协议和临时订单应支付的所有费用(包括合理费用、支出和律师的其他费用)，且临时命令关于费用的发票在该日期之前至少一个营业日已出示的费用应已支付。7.9重大不利影响自请愿书日期起未发生重大不利影响。7.10破产法第11章案例(A)破产法第11章案例均不得被驳回或转换为第7章案例。(B)在第11章的任何个案中，均不得委任受托人或审查员，其权力超越《破产法》第1106(A)(3)及(4)条的规定。7.11截至建议信贷延期之日，债务人须达到的所有里程碑均已达到或获豁免。7.12]已保留
7.13无诉讼在任何法院或任何仲裁员或政府机构（第11章案件除外），均不存在未中止的诉讼、起诉、调查、诉讼或程序，这些诉讼、起诉、调查、诉讼或程序将合理预期会导致重大不利影响。 借款人提交的每份借款通知（但不包括任何转换或延续通知）应被视为一份声明和保证，即本第7条规定的条件已在适用的信贷延期之日得到满足。 第8节陈述和保证为了促使贷方和信用证签发人签订本协议，并按照规定进行循环信用贷款和签发或参与信用证。 第120条在本协议中，控股公司和借款人各自代表其自身及其子公司向代理人、贷方和信用证签发人做出以下陈述和保证，所有这些陈述和保证在本协议的签署和交付以及循环信用贷款的发放和信用证的签发后仍然有效：遵守法律各控股公司，借款人和借款人的每个子公司（a）是一个正式组织和有效存在的公司或其他信誉良好的实体（如适用）根据其组织管辖区的法律，并拥有公司或其他组织的权力和权力，拥有其财产和资产，进行其所从事的业务，除非合理预期不会导致重大不利影响，（b）具有适当资格并被授权开展业务，且信誉良好（如适用）在要求其具备此类资格的所有司法管辖区，除非不符合上述条件不会合理预期导致重大不利影响，且（c）符合所有适用法律，但不符合规定不会导致重大不利影响的情况除外。 8.2公司权力和授权各信用证方拥有公司或其他组织的权力和授权，根据订单的输入及其条款，执行，交付和履行其作为一方的信用证文件的条款和规定，并已采取所有必要的公司或其他组织行动授权执行，交付和履行其作为当事人的信用证文件。 根据订单的输入及其条款，每个信用证方已正式签署并交付其作为一方的每份信用证文件，每份信用证文件构成该信用证方的合法、有效和有约束力的义务，可根据其条款强制执行，但受破产、资不抵债、欺诈性转让、一般涉及或影响债权人权利的重组法和其他类似法律以及衡平法的一般原则（无论是在衡平法程序中还是在法律程序中审议）（前提是，关于与外国子公司的债务、股票和股票等价物有关的担保权益的设立和完善，只有在这种义务的建立和完善由UCC管辖的范围内）。 8.3没有违反既不执行，任何信用证方交付或履行其作为一方的信用证单据，或遵守其中的条款和规定，或完成本信用证所设想的融资交易，将（a）违反任何适用法律的任何适用规定（包括重大环境法律），但不包括任何合理预期不会导致重大不利影响的违规行为，（b）导致违反任何条款、契诺、条件或条文，或构成违约，或导致对控股公司、借款人或任何子公司的任何财产或资产产生或施加任何留置权（除本协议允许的留置权外）根据任何重大抵押、贷款协议、租赁协议、抵押、信托契约或其他重大债务协议或文书，控股公司、借款人或任何子公司
121方或其任何财产或资产受约束（任何此类条款、契约、条件或规定，“合同要求”），但不包括任何此类违约、违约或留置权，这些违约、违约或留置权合理预期不会导致重大不利影响，或（c）违反任何信贷方组织文件的任何规定。 8.4诉讼除附件8.4所述的第11章案件和事项外，不存在任何未决的或据借款人所知的、与控股公司、借款人或任何子公司有关的、有合理可能出现不利决定且合理预期此类决定将导致重大不利影响的诉讼、起诉或程序。 8.5保证金规定本协议项下的信用扩展及其收益的使用均不违反董事会T、U或X规定的规定。 8.6政府批准根据订单的输入和条款，信用证文件的签署、交付和履行不需要任何政府机构的任何同意或批准、登记或备案或其他行动，除非（i）已经获得或做出并具有完全效力，（ii）根据担保文件创建的关于留置权的备案和记录，以及（iii）此类许可、授权、同意、批准、登记、备案或其他行动，如果未能获得或进行这些行动，将不会合理地预期会产生重大不利影响。 8.7根据1940年《投资公司法》（经修订）的定义，信贷方均不是“投资公司”，并须根据该法注册。 8.8真实和完整的披露（a）没有书面的事实信息和书面数据（作为一个整体）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权代表在此之前或同时向行政代理机构提供，在截止日期当日或之前，（包括信用文件中包含的所有此类信息和数据），借款人及其子公司在与本协议或本协议拟进行的任何交易有关的交易中，包含任何重大事实的不真实陈述，或遗漏了任何必要的重大事实，以提供此类信息和数据（作为一个整体）根据提供该等信息或数据的情况，在当时不具有重大误导性，双方理解并同意，就本第8.8（a）条而言，该等事实信息和数据不应包括预测或估计（包括财务估计、预测及其他前瞻性资料）及一般经济或一般行业性质的资料。 122（b）根据2023年2月14日的中期定期贷款DIP命令，并在该命令中定义的初始DIP预算是基于借款人认为在做出时合理的善意估计和假设，代理人，联合牵头人和贷款人承认，这些预测，前瞻性陈述，估计和形式财务信息不应被视为事实或业绩保证，并受重大突发事件和假设的影响，其中许多是信贷方无法控制的，并且任何此类预测所涵盖的期间内的实际结果，前瞻性陈述、估计和备考财务信息可能与预测结果存在重大差异。 (c)每份借款基础证书中所载的信息在所有重大方面均真实正确，并已根据本协议在所有重大方面编制。 在提交时，在提交给行政代理的每份借款基础证书中，借款人确定为合格账户的账户和借款人确定为合格库存的库存在所有重大方面分别符合合格账户和合格库存定义中规定的标准。 8.9
已保留
8.10税务事项，除非破产不会产生重大不利影响，或《破产法》允许或要求，(A)控股、借款人和每家子公司均已提交其要求提交的所有联邦所得税申报表和所有其他国内和国外纳税申报表(在实施所有适用延期后)，并已支付其应支付的所有到期的重要税款(无论是否显示在该纳税申报表上)，除(I)尚未拖欠或(Ii)在法律规定范围内及根据公认会计原则已就是否已提供足够储备金而真诚提出异议外，(B)各控股公司、借款人及各附属公司均已根据公认会计准则就尚未到期及应付的所有联邦、州、省及外国税项提供充足储备，及(C)各控股公司、借款人及各附属公司均已履行其所有预扣税项责任。8.11遵守ERISA(A)未发生或合理预期不会发生ERISA事件；根据守则或ERISA对借款人或任何ERISA关联公司的资产施加的留置权并不存在(或合理地很可能存在)，借款人或任何ERISA关联公司也没有接到书面通知，将因任何养老金计划而对Holdings、借款人或任何ERISA关联公司的资产施加此类留置权，除非违反第8.11(A)条中的任何陈述、担保或协议不会单独或整体导致合理地可能产生重大不利影响的负债金额。任何养老金计划都没有资金不足的流动负债，无论是单独负债，还是与本第8节提到的任何其他负债一起承担。 123（b）所有海外计划均符合该等海外计划的条款及适用法律，并已根据该等条款及适用法律设立、管理及运作，但未能如此遵守、设立、管理或运作海外计划而合理预期不会产生重大不利影响的情况除外。 各海外计划的所有到期供款或其他付款均已全额支付，且不存在任何资金不足，除非合理预期任何此类事件不会单独或汇总产生重大不利影响。 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间接所有权权益）。 8.13知识产权各控股公司、借款人和子公司对所有专利、商标、服务标志、商号、版权及其所有申请和许可，以及所有其他知识产权，均拥有良好且可销售的所有权，或有效的许可或使用权，不附带任何留置权（除本协议所允许的留置权外），是目前开展各自业务所必需的，除非未能拥有任何此类所有权，许可或权利不会合理预期产生重大不利影响。 8.14环境法律除非合理预期不会产生重大不利影响：（a）控股公司、借款人和子公司以及所有房地产均遵守所有环境法律;（b）控股公司、借款人和子公司已根据环境法律及时申请更新所有许可证，以建造和运营其目前建造的设施;（c）除附表8所载者外。除第8.14节另有规定外，控股公司、借款人和子公司不就环境法作出任何其他陈述或保证。124 8.15除附表8.15所述物业外，控股、借款人及附属公司对彼等目前经营各自业务所需的所有物业拥有良好的所有权或有效的租赁或地役权权益或其他许可或使用权，且不受任何留置权(本协议所准许的任何留置权除外)的影响，除非未能拥有该等良好的所有权、租赁或地役权权益或其他许可或使用权并不会合理地预期会产生重大不利影响。附表8.15列出了任何贷款方在结算日构成重大不动产的每个不动产的街道地址(如果有)。8.16无违约在实施适用的信用延期后，未发生违约或违约事件。8.17在符合第6.2节规定的条件和《ABL债权人间协议》条款(如果当时有效)的情况下，对于每一贷方，担保文件作为一个整体，有效地为担保当事人的利益在担保文件所述抵押品中设定合法、有效和可强制执行的第一优先权担保权益(受本协议允许的留置权的约束)，在每个情况下，担保文件的强制执行能力取决于适用的破产、无力偿债、重组、暂缓执行或其他一般影响债权人权利的法律，但须遵守衡平法的一般原则，不论是在衡平法诉讼中考虑还是在法律上考虑。
125 8.18劳工事宜，除非合乎情理地预期不会产生重大不利影响：(A)没有针对Holdings、借款人或任何附属公司的罢工或其他劳资纠纷待决，或据借款人所知，有任何书面威胁；及(B)Holdings、借款人及各附属公司的雇员的工作时数及支付款项并无违反公平劳工标准法或任何其他处理此等事宜的适用法律。8.19受制裁的人；反腐败法；爱国者法任何控股公司、借款人或其任何子公司或其各自的任何董事或官员不受美国国务院或美国财政部(包括外国资产管制办公室)或任何其他适用制裁机构(统称为“制裁”，以及相关法律、规则、法规和命令，统称为“制裁法”)实施或执行的任何经济禁运或类似制裁的约束。控股、借款人及其附属公司及其各自的高级职员和董事在所有重大方面均遵守(I)所有制裁法律、(Ii)美国1977年修订的《反海外腐败法》和任何其他适用的反贿赂或反腐败法律、规则、法规和命令(统称为《反腐败法》)以及(Iii)《爱国者法》和任何其他适用的反恐怖主义和反洗钱法律、规则、法规和命令。信贷延期收益的任何部分将不会(I)直接或间接地在任何实质性方面违反《爱国者法》、《反腐败法》、《制裁法》和/或任何其他反恐怖主义或反洗钱法，或(Ii)提供、给予、用于或以其他方式提供给(X)位于或居住于任何司法管辖区或根据该司法管辖区法律组织的任何个人或实体，而该司法管辖区是制裁法律规定的全面制裁的目标(目前为古巴、伊朗、朝鲜、叙利亚、克里米亚地区、非政府控制的乌克兰扎波日日亚和赫森地区)，或(Y)制裁法律所针对的任何个人或实体(包括但不限于，列入美国财政部特别指定国民和受封锁人士名单的个人或实体)。8.20收益的使用借款人将根据本协议第9.13节的规定使用信贷延期的收益。8.21命令临时命令是有效的(最终命令在输入时将是有效的)，可以为了担保当事人的利益，在抵押品上建立合法、有效、具有约束力和可强制执行的完善的担保权益，而不需要签立抵押、担保协议、质押协议、融资声明或其他协议或文件。126 8.22义务的状态；担保权益的完备性和优先权取决于临时命令(和最终命令，如适用)的输入。义务应具有第2.19节中规定的地位和优先顺序，为避免产生疑问，应在所有方面进行分割。第9款约定借款人在此约定并同意，在截止日期(紧接交易生效后)及之后，直至循环信贷承诺总额和所有信用证均已终止(已被L/C以现金作抵押、担保或以其他方式以适用的L/C发行人合理满意的条款和条件抵押的信用证除外)，贷款连同利息、费用和所有其他债务(有担保对冲协议和有担保特定对冲协议项下的对冲义务、有担保现金管理协议和有担保现金管理协议项下的现金管理义务或或有债务除外)，全额支付：9.1借款人将向行政代理提供的信息契约(行政代理应根据其惯例迅速向贷款人提供此类信息)：(A)月度运营报告。在申请后两(2)个工作日内向破产法院提交适用月份的所有“月度运营报告”的复印件。(B)核准预算。在截止日期后每个四周期间的最后一个工作日，更新的批准预算实质上令要求的贷款人满意；但该更新的批准预算未能令要求的贷款人满意，不应被视为违反本第9.1(B)条，并且不应因要求的贷款人拒绝该更新的批准预算而导致违约或违约事件；此外，为避免疑问，就本协议而言，最近生效的批准预算应继续构成批准预算；此外，所需贷款人的这种拒绝应导致违约事件，该事件应在未包括在最近生效的批准预算中的每周期间开始的两个工作日之前发生。(C)差异报告。在每两周期间(第一次交付时间为2023年3月1日，第二次交付时间为2023年3月15日，第二次交付时间为2023年3月15日，之后每个适用的时间段均为周三)之后的星期三，以附件M的形式提交一份报告(“差异报告”)。(D)[已保留]已保留[127(F)违约通知；诉讼；ERISA事件。借款人或任何附属公司的授权人员获知后，应立即通知(I)任何构成违约或违约事件的事件的发生，该通知应指明其性质、存续期及借款人拟对其采取的行动；(Ii)针对借款人或任何附属公司的任何诉讼、监管或政府程序，而该诉讼、监管或政府程序有合理可能作出不利裁定，而该项裁定可合理地预期会被裁定为不利，如经裁定，则会导致重大不利影响；(Iii)任何ERISA事件或任何合理预期将会发生的ERISA事件的发生，这将合理地预计会导致重大不利影响，以及(Iv)任何其他合理预期将产生重大不利影响的事件。(G)其他资料。(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贷款人的名义(通过行政代理采取行动)可不时以书面形式合理要求的其他信息(财务或其他)应以合理的速度予以提供；但即使本第9.1(H)条有任何相反规定，在下列情况下，Holdings、借款人或其任何子公司均不需要根据本第9.1(H)条提供任何其他信息：(I)提供此类信息将违反任何律师客户特权(由贷方的(内部或外部)律师合理确定)、法律、规则或法规，或对贷方或其各自关联公司具有约束力的任何合同保密义务(只要不是在本协议中订立的)或(Ii)此类信息构成律师工作产品(由贷方的律师(内部或外部)合理确定)。(I)综合EBITDA。在每个财政季度结束后45天内，从截至2023年3月31日的财政季度开始，借款人的授权官员的证书列出最近结束的四个财政季度的综合EBITDA的计算。(J)(I)在向破产法院申请或向债权人委员会或美国政府交付之前，在合理可行的范围内尽快完成。关于借款人或其任何子公司的财务状况或贷款方的其他债务或根据破产法第363、365、1113或1114条或联邦破产程序规则9019提出的任何救济请求的所有其他通知、文件、动议、诉状或其他信息。(K)借用基础证书。(L)在交付第9.1(K)9.1(K)节规定的每月借款基础证书时，借款人应各自提供按类别和地点分列的库存报告，并与相应的每月借款基础证书进行对账，合理详细地计算符合条件的库存，并对贷方各自的库存进行对账，核对其库存分类账中所列金额与根据本条款交付的任何库存报告(L)；(M)在交付第9.1(K)节规定的每个月借款基础凭证时，借款人应提供流动应收账款账龄，同时提供账龄与同时交付的资产负债表上的应收账款金额之间的对账；和]129(N)(I)借款人应在提取现金或现金等价物之前通知行政代理，该现金或现金等价物将从受第9.18节冻结帐户协议约束的冻结账户中提取，构成合格的借款基础现金；以及(Ii)在提取现金的一(1)个营业日内，借款人应向行政代理提供反映更新的合格借款基础现金的更新的借款基础证书。9.2和(2)行政代理机构在任何日历年行使此种权利的次数不得超过两次；此外，如果发生违约事件，行政代理机构(或其任何代表或独立承包人)可在正常营业时间内的任何时间，在合理的事先通知下，由借款人承担费用，行使上述任何权利。行政代理和所要求的贷款人应给予借款人参与与借款人的独立公共会计师进行任何讨论的机会。即使本第9.2条有任何相反规定，借款人或任何附属公司均不得根据本第9.2条披露或允许查阅或讨论任何文件、信息或其他事项，前提是此类行为违反任何律师-客户特权(由贷方律师(内部或外部)合理确定)、法律、规则或法规，或对贷方或其各自关联公司或构成律师工作产品(由贷方律师(内部或外部)合理确定)具有约束力的任何合同保密义务(不是在考虑中产生的)。130 9.3保险的维持借款人将，并将促使每家子公司，根据自我保险安排，或与保险公司，根据自我保险安排，或与保险公司，在相关保险安排或续保时，借款人认为(根据借款人管理层的善意判断)财务健全和负责任的保险，保险金额至少为(在实施借款人认为(根据借款人管理层的善意判断)的任何自我保险之后，(如适用)根据其业务的规模和性质是合理和审慎的)，并至少防范借款人根据其业务的规模和性质以及在具有成本效益的基础上可获得的保险是合理和审慎的(并根据借款人管理层的善意判断，酌情)所承担的风险(以及风险保留)；并在行政代理人提出书面合理要求时，向行政代理人提供有关如此投保的保险的合理详细资料，但只要失责事件并未发生且仍在继续，行政代理人在任何公历年内只有权提出该要求一次。 9.4支付税款借款人将支付和清偿，并将促使各子公司支付和清偿，在罚款附加之日之前，对借款人或其收入或利润或其任何财产征收的所有税款、评估和政府收费或征税，以及与征收、评估或征收的任何税款有关的所有合法索赔，如果未支付，可合理预期成为借款人或任何子公司的任何财产的重大留置权;但借款人或任何该等附属公司均无须支付任何该等税项、评税、收费，（i）已维持足够储备金，正以真诚及适当程序提出争议的征款或申索（根据借款人管理层的善意判断）根据公认会计原则，或（ii）根据《破产法》，未能支付不会合理预期导致重大不利影响或被允许或要求。 9.5合并的公司特许经营权借款人将采取，并将促使作为子公司的各子公司采取，或促使采取一切必要措施，以保持其存在、公司权利和授权的充分效力和效果，但不采取这些措施不会合理预期产生重大不利影响的情况除外;但是，借款人和子公司可以完成本协议允许的任何交易，包括第10.2、10.3、10.4或10.5。131 9.6遵守法规、规例等借款人将并将促使每家子公司遵守适用于其或其财产的所有适用法律，包括开展业务所需的所有政府批准或授权，并在每种情况下保持所有此类政府批准或授权的全部效力，除非不遵守规定不会产生重大不利影响。9.7贷款人仅就任何商业事项召开电话会议时，贷款方(包括一名或多名其他高级管理层成员)应并应在合理时间安排其财务顾问(如适当和适用)由借款人和行政代理人不时(且不超过每月)相互合理地商定，主持与行政代理人、贷款人及其财务顾问的电话会议。9.8物业保养借款人将，并将促使附属公司保持及保养所有物业材料，使其处于良好的运作状态及状况(正常损耗、伤亡及谴责除外)，但如未能做到这一点，合理地预期不会有重大不利影响者除外。9.9现金管理令各贷款方应在所有重要方面按照现金管理令维护其现金管理系统(受制于其中规定的贷款人的任何批准或同意权)。9.9.11在符合担保、担保文件、ABL债权人间协议(如果存在)和本协议(包括第9.12条)中规定的任何适用限制的情况下，借款人将使借款人在截止日期后组成或以其他方式购买或收购的每个直接或间接国内子公司(不包括任何被排除的子公司)以及借款人不再构成被排除子公司的每个其他国内子公司在成立、收购或停止之日(或所需贷款人在其合理酌情权下可能同意的较长期限)，对担保和担保协议各签署一份补充文件，以成为担保项下的担保人和担保协议项下的设保人/质押人。9.12进一步保证：(A)在符合本协议(包括第9.11节)、担保文件和ABL债权人间协议(如果存在)规定的适用限制的情况下，借款人将并将促使对方贷方签署任何和所有其他文件、融资报表、协议和票据，并采取任何适用法律可能要求的所有此类进一步行动(包括对融资报表、固定装置档案、抵押、信托契据和其他文件的存档和记录)，或抵押品代理人可以合理请求，以便授予、保存、保护和完善适用的担保文件所设定或拟设定的担保权益的有效性和优先权，一切费用由借款人和子公司承担。(B)在证券文件(包括任何按揭)所列任何适用限制的规限下，如果任何担保文件担保的资产(包括任何自有不动产或构成重大不动产的改进)在截止日期后被借款人或任何附属担保人收购，或在根据第9.11节成为担保人之时或之后由任何附属担保人持有(担保文件下构成抵押品的资产在取得担保文件时受任何担保文件的留置权约束的资产或根据第10.2(D)或10.2(G)条授予的受留置权约束的资产除外)，借款人应立即将此情况通知抵押品代理人，如果抵押品代理人提出要求，将导致此类资产受到留置权的约束，以确保债务，并将在商业上合理的情况下尽快采取抵押品代理应采取或合理要求的行动，但在任何情况下不得晚于30天，除非抵押品代理以其合理的酌情决定权延长，以授予和完善符合担保文件的适用要求的此类留置权，包括本节(A)段所述的行动，费用均由贷方承担。(C)根据前款(B)向抵押品代理人交付的任何抵押品，应附有(D)款所列的该抵押品所涵盖的资产类型的惯常项目。任何该等按揭所涵盖的资产类别的惯常项目，如在按揭交付时未能合理地获得，则可在按揭交付后一段商业合理的期间内交付。(D)对于构成重大不动产的任何自有不动产，在贷款人要求的范围内，借款人将在60天内向抵押品代理人交付或安排交付(I)由每一债务人的授权人员签立的关于构成重大不动产的每项自有不动产的抵押，(Ii)一份或多份所有权保险保单，将每项抵押的留置权作为构成其中所述重大不动产的自有不动产的有效留置权进行保险，而不受任何其他因素的影响[133除经抵押品代理人许可的产权负担或经抵押品代理人书面同意(包括通过电子邮件)的留置权，连同抵押品代理人可能合理要求的背书和再保险，连同抵押品代理人合理接受的证据，证明支付上述所有权保险单所需的所有所有权保险费、检索和审查费、第三方托管费和相关费用、费用、成本和开支；(Iii)按所需贷款人的要求和满足上述第(Ii)款要求的合理必要程度进行的调查；(Iv)所有其他文件和文书，包括《统一商法典》或其他适用的固定设备担保融资报表，(V)构成重大不动产的每个此类不动产所在州的法律顾问的书面意见应以适当的形式交付给担保人，以便存档、登记或记录；(V)法律顾问的书面意见。如果任何构成重大不动产的自有不动产中包含的任何建筑物或其他改善设施在任何时间位于联邦紧急事务管理署(或任何后续机构)确定为根据1968年《国家洪水保险法》(现在或以后生效或其后续法案)提供洪水保险的特别洪水危险区域的区域内，则借款人应在交付抵押贷款之前交付或安排交付：(I)关于构成重大不动产的每个自有不动产的完整的联邦紧急事务管理署标准洪水确定，在每一种情况下，其形式和实质均令抵押品代理人合理满意；以及(Ii)在适用法律要求的范围和金额内，关于构成重大不动产的每一财产的洪水保险证据，在每一种情况下，形式和实质均令抵押品代理人合理满意。(E)尽管本协议有任何相反规定，但如果借款人和所需贷款人在其合理判断中(以书面形式向借款人和行政代理确认)同意，在任何财产上设立或完善任何留置权的成本或其他后果(包括不利的税收和会计后果)相对于由此向担保当事人提供的利益而言是过高的，则该财产可被排除在信贷文件的所有目的的抵押品之外。9.13使用款项借款人将使用在结算日签发的信用证支持或取代结算日现有的信用证和/或在结算日之前向借款人或任何附属公司签发的任何信用证。借款人将在截止日期后将信贷延期所得资金用于营运资金和一般企业用途。9.14]已保留[9.15业务变更借款人及其附属公司整体而言，不会从根本及实质上改变其整体业务的性质，不同于借款人及附属公司于成交日期所进行的整体业务及其他业务134该等业务为其延伸或其他类似、附带、互补、协同、合理相关或附属于任何前述事项的活动，由借款人真诚地厘定。9.16里程碑借款人应遵守下列里程碑(统称为“里程碑”)：(A)]已保留[已保留]。(C)最终命令应在请愿书日期后不迟于四十五(45)天作出。(D)[已保留]。(E)2023年的PBGC和解应在该计划确认之前获得破产法院的批准。(F)[已保留]已保留
已保留
。(I)批准披露声明的充分性的命令应不迟于请愿书日期后六十(60)天作出，其形式和实质应为债务人和所需贷款人所接受。(J)以债务人和所需贷款人合理接受的形式和实质确认该计划的命令(“确认命令”)应在请愿书日期后不迟于六十(60)天发出。(K)在请愿日期后九十(90)天内，“计划”的实质完成应已完成。9.11.除非已根据《担保协议》设定有效的留置权并根据有效的UCC融资声明予以完善，否则借款人应立即通知抵押品代理人，如果抵押品代理人提出要求，借款人将使该等资产享有担保债务的留置权，并将在商业上合理但在任何情况下不得晚于五(5)个工作日的情况下，采取并促使其他贷方采取抵押品代理人必要或合理要求的行动，除非抵押品代理人以其合理的酌情决定权延长给予和完善此类留置权，以符合证券文件的适用要求。包括本节(A)段所述的行为，费用全部由信用证各方承担。9.18现金管理系统(A)作为附表9.18随附的是截至结算日借款人和作为主要附属公司的附属担保人所管理的所有DDA的附表，该附表包括就每个托管银行而言，(I)该托管银行的名称和地址；(Ii)该托管银行的账号(S)；(Iii)该托管银行的联系人；以及(Iv)该托管银行是否必须遵守冻结账户协议。(B)在截止日期后30天内，或行政代理根据其合理酌情决定权同意的较长期限内，借款人和每一附属担保人将作出商业上合理的努力，就DDA(除外账户除外)(受封锁账户协议约束的此类DDA，统称为“封锁账户”)订立令行政代理合理满意的弹性冻结账户协议(各自为“封锁账户协议”)。借款人特此同意，一旦签订冻结账户协议，借款人或任何附属担保人在非冻结账户的任何DDA中收到的所有现金(除外账户中持有的金额以及适用法律要求的仅就其定义第(Ii)款中确定的除外账户而言的除外账户除外)将立即转移到冻结账户(现金支配期内属于现金集合账户的冻结账户除外)。在签订被冻结账户协议后，此后任何时候都应至少有一个136被冻结账户不是现金池账户。在任何DDA既用于托收又用于其他目的(包括付款和支付或现金汇集功能)的范围内，借款人应在截止日期后90天内(或行政代理在其合理的酌情决定权下同意的较长期限)或(I)终止每个此类账户的其他功能(托收以外的功能)，或(Ii)将该账户的托收功能转移到另一个受阻止账户协议约束且仅专用于托收的账户。(C)每份冻结账户协议(如有的话，不包括与DIP收益账户或外汇储备账户有关的任何此类冻结账户协议，该协议不得允许行政代理在DIP定期贷款未偿还期间作出任何此类指示)应允许行政代理在现金支付期(以及行政代理递交有关通知)期间指示托管机构在每个营业日向行政代理在北卡罗来纳州花旗银行维持的集中账户转账。 如果在现金支配期内的任何时间，借款人或任何子公司担保人拥有的任何现金或现金等价物（除外账户中持有的金额，且仅适用法律要求的除外账户定义第（ii）条中规定的除外账户）存入任何账户，或以任何方式持有或投资，除了在冻结的帐户中（作为现金池账户的冻结账户除外）受冻结账户协议约束（或每日转入冻结账户（作为现金池账户的冻结账户除外）的DDA），行政代理人可以要求相关人员关闭该账户，并将其中的所有资金转移到冻结账户（现金池账户除外），以及所有未来存入冻结账户的款项（作为现金池账户的冻结账户除外）受冻结账户协议约束;前提是，如果现金或现金等价物在现金支配期内存入任何冻结账户（即现金池账户），则借款人应将此类现金和现金等价物转移至非现金池账户的冻结账户，但是，除非违约事件已经发生并仍在继续，行政代理人不得要求（i）关闭任何此类现金池账户，或（ii）在现金支配期开始前存入任何此类现金池账户的任何现金和现金等价物应转移至冻结账户，不是现金池账户。除上述规定外，在现金管理期内，应行政代理人的要求，借款人应向行政代理人提供被冻结账户内容的账目，该账目应确定抵押品的收益，并使行政代理人合理地满意，这些抵押品被存入被冻结账户并划入集中账户。[137(D)借款人和附属担保人可以关闭DDA或被冻结的账户和/或开设新的DDA或被冻结的账户，但须符合本第9.18节的规定，并在其他合理令行政代理满意的情况下，签署适当的被冻结账户协议并交付给行政代理(与任何被排除的账户相关的除外)。上述人员均应事先书面通知行政代理其开立或关闭被冻结帐户的意向，行政代理应立即通知借款人行政代理是否需要与将与其保持该帐户的人签订一份被冻结帐户协议。(E)借款人和附属担保人还可以维持一个或多个零余额支出账户，供这些人在正常业务过程中或在本协议允许的情况下用于支出和付款(包括工资)。(F)每个集中账户在任何时候都应由行政代理独家管辖和控制。各信用方在此确认并同意：(I)该信用方无权从任何集中账户中提取资金；(Ii)每个集中账户中存放的资金在任何时候都应继续作为担保文件规定的所有义务的抵押品；以及(Iii)每个集中账户中存放的资金应按本协议的规定使用。如果不遵守本第9条的规定。(G)只要不存在现金管治期，借款人和附属担保人就可以指示并独家控制被冻结账户中的资金处置方式(属于现金汇集账户的被冻结账户除外，借款人和附属担保人可就此指示并独家控制资金处置方式，只要违约事件没有发生且仍在继续)。(H)任何集中账户中任何时间收到的任何金额，应在根据第5.2(B)节使用该等金额后，汇入借款人的营运账户。(I)在现金支付期终止或违约事件(视情况而定)发生时，行政代理人应根据第9.18(C)款向每个已被冻结账户的开户人迅速(但无论如何在一个工作日内)提供终止通知的书面通知。(J)以下规定适用于根据本协议进行的存款和付款：138(I)资金应被视为已在缴存当日的营业日存入适用的集中账户，但行政代理必须在下午4：00前收到存款。在该营业日(除非在下午2：00之前全额支付债务)支付给行政代理人的资金，除通过存入集中账户的方式外，应视为在营业日收到，只要行政代理人在下午4：00前收到这笔款项。 在该工作日（iii）如果集中账户的存款或付款在某个工作日下午4：00之后才可向行政代理人提供，则该存款或付款应被视为在下一个工作日上午9：00时作出;及（iv）若存入任何集中账户并根据第5.2（b）条申请的任何项目因任何原因被拒付或退回未付款，无论该退回是否合法或及时，行政代理人应有权撤销该申请，借款人应赔偿担保方因该拒付或退回而产生的所有合理的现金索赔和损失。 9.19评估和现场检查（a）行政代理机构可以在任何财政年度进行一次库存评估和一次现场检查，费用由借款人承担;但是，尽管有上述限制，（x）在超额可用性低于18，000美元（以较大者为准）之日后的任何时间，000美元和额度上限的15%，在每个财政年度可以进行一次额外的现场检查和一次额外的库存评估，直到超额可用性至少达到18，000美元，000和额度上限的15%，连续20个日历日，以及（y）在违约事件持续期间的任何时间，可按照行政代理人在其允许的自由裁量权中确定的频率进行现场检查和库存评估，费用由借款人承担。17(A)。此类库存评估和现场审查应不迟于2023年2月28日完成(行政代理可根据其允许的酌情决定权将该日期延长至2023年3月31日，任何进一步的延期均需征得所需贷款人的同意)。9.20如借款人于临时命令发出后五个营业日内偿还若干债务，借款人应(或应促使其附属公司)全额偿还中期贷款DIP订单附件(附件B 139)所载批准借款人订立DIP定期贷款信贷协议的“DIP预算”所预期的与行政代理的若干现金池账户有关的若干债务。第10条负面契约借款人在此约定并同意，在截止日期(紧接交易生效后)及之后，在循环信贷承诺总额之前，所有贷款、所有信用证均已终止(已担保的信用证、L/C的现金担保或以适用的L/C发行人合理满意的条款和条件以其他方式抵押)，以及贷款连同利息、费用和所有其他债务(有担保对冲协议和有担保特定对冲协议项下的对冲义务、有担保现金管理协议和有担保现金管理协议项下的现金管理义务或或有债务除外)，全额偿付：10.1债务限额借款人不会，也不会允许子公司产生、招致、承担或忍受任何债务。5和10。13、借款人或任何附属公司对借款人或任何附属公司的债务；但任何贷款方对非贷款方的任何人所欠的所有此类债务应(X)无担保，并根据行政代理合理满意的公司间票据进行从属；此外，该公司间票据不得要求任何外国子公司在截止日期后30天前交付；(E)在遵守第10.5条的前提下，(I)子公司因借款人或本协议允许发生的任何其他子公司的债务而发生的担保义务，以及(Ii)借款人因根据本协议允许发生的子公司的债务而发生的担保义务；但条件是：(X)如果根据第10.1(E)条提供担保的债务从属于债务，则该等担保义务应服从对债务的担保，其条款(作为整体)至少与该债务的从属条款中所包含的条款一样有利于贷款人，并且(Y)非贷款方的子公司不得根据本第10.1(E)条担保该子公司在本第10条下不能产生的债务。5(第10.5节(L)参照第10.1节和第10.5(Q)节允许的投资除外)；但第(Ii)款不得解释为限制第10节的要求。1(M)在任何时候不得超过30,000,000美元；(N)现金管理服务方面的债务，以及在正常业务过程中与透支设施、员工信用卡计划、净额结算服务、自动票据交换所安排和其他现金管理及类似安排有关的其他债务；(O)(I)在正常业务过程中因借款人或任何附属公司支付商品或服务的延期购买价款或与该等商品和服务有关的进度付款的义务而产生的债务；及(Ii)]141借款人或与借款人的任何附属公司或任何附属公司就在正常业务过程中出售的货物或提供的服务所产生的应付帐款而承担的债务，并符合以往惯例，但不与借款有关；(P)借款人或任何附属公司就赔偿、调整购买价格或类似债务(包括收益)达成的协议所产生的债务，在每种情况下，这些债务都与投资和处置本协议所允许的任何业务、资产或股票或股票等价物有关；(Q)借款人或任何附属公司的负债，包括(I)为保险费融资或(Ii)承担或支付供应协议所载的债务，两者均在通常业务过程中产生；。(R)对借款人及其附属公司的雇员、顾问或独立承建商在通常业务过程中产生的递延补偿或类似安排的债务；(S)
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；(T)由借款人和附属公司根据递延补偿或该人在与交易有关的其他类似安排下产生的债务组成的债务；(U)
保留区[保留区]保留区[保留区] 1.13 [保留区]保留区[(Aa)在正常业务过程中从客户收到的在正常业务过程中购买的货物和服务的债务、客户保证金和预付款(包括预付款)；(Bb)(I)借款人或由信用证支持的任何附属公司的债务，本金金额不超过该信用证规定的金额，只要该信用证是依据第10.1节以其他方式允许发生的，或(Ii)为借款人或借款人的任何附属公司的利益而为借款人或借款人的任何附属公司的利益而签发、作出或发生的与在美国以外的司法管辖区进行的任何法定申报或提交审计意见有关的支持信用证、担保或类似义务的义务；142(Cc)]保留区[；(Dd)]保留区
；(Ee)[保留区] 2.7 [(Ff)上述(A)至(Ee)条所述债务的所有保费(如有)、利息(包括呈请后的利息)、费用、开支、收费，以及额外或或有利息。就本公约而言，利息或股息的应计、增值的增加、原始发行折扣的增加或摊销，以及以额外负债或不合格股票形式支付的利息或股息，不会被视为产生或发行负债或不合格股票。本协议不会仅仅因为(1)无担保债务是无担保债务而将其视为从属于或次于有担保债务，或(2)仅因其对同一抵押品具有较低的留置权优先权而将优先债务视为从属于或次于任何其他优先债务。10.2对留置权的限制借款人将不会，也不会允许子公司在借款人或该附属公司的任何财产或资产(不动产或非土地、有形或无形)上设立、招致、承担或容受任何留置权，无论是现在拥有的还是以后获得的，但以下情况除外：(A)信用证文件项下产生的留置权，包括订单(为免生疑问，包括因启动留置权而授予的足够保护的留置权)；(B)确保根据第10.1(C)节允许发生的债务的留置权；但此类留置权不得附加于任何非抵押品的资产或财产(排除在外的建筑物除外)，并应受ABL债权人间协议的约束；(C)保证请愿前的第一留置权债务的留置权；(D)根据第10.1(H)节允许的保证债务的留置权；但除特此另予准许外，该等留置权在任何时候均只附连于如此融资的资产，但以下情况除外：(1)加入以该等债务的收益及其收益及其产品融资的财产；及(2)由一名贷款人提供的个别设备融资可与该贷款人提供的其他设备融资作交叉抵押；。(E)在呈请日存在的留置权；。]保留区
143(G)对除截止日期以外的现有信用证的现金和现金等价物的留置权；。(H)对任何附属公司的资产的额外留置权，而该附属公司不是为第10.1节允许的附属公司的债务提供担保的贷款方(或该附属公司的其他不构成债务的义务)；。[保留区]保留区
(K)为贷方(借款债务除外)和非贷方子公司的债务提供担保的额外留置权，只要由此担保的债务总额在产生或发行时在任何时候不超过20,000,000美元；(L)[保留区]；(M)允许的产权负担；及(N)补充、修正、修正和重述、修改、替换、再融资、退款、重组、延长或续期本第10.2节(E)款所允许的任何留置权，这些留置权位于或位于受该留置权约束的同一资产上(或在附加或并入该留置权所涵盖的财产及其附加物或其任何收益或产品的基础上或之后获得的财产上)。10.3对基本变化的限制借款人将不会也不会允许子公司完成任何合并、合并或合并，或清算、清盘或解散(或遭受任何清算或解散)，或转让、出售、租赁、转让、转让或以其他方式完成其所有或基本上所有业务单位、资产或其他财产的处置，但下列情况除外：
保留区[；(B)只要未发生违约事件，且违约事件仍在继续或将导致违约，则任何非债务人附属公司可与任何一家或多家非债务人附属公司合并、合并或合并为任何一家或多家非债务人附属公司；]保留区[（d）非信贷方的任何子公司可向借款人或任何其他子公司出售、租赁、转让或以其他方式处置其任何或全部资产（在自愿清算或其他情况下）;（e）借款人或借款人的任何子公司可向任何信贷方出售、租赁、转让或以其他方式处置其任何或全部资产（在自愿清算或其他情况下）。 144缔约方;但除债务人外的任何人对任何此类处置的对价不得超过此类资产的公允价值;（f）任何子公司可以清算或解散，如果（i）借款人真诚地确定该清算或解散符合借款人的最佳利益，并且不会对贷款人造成重大不利，以及（ii）该子公司是信贷方，该子公司的任何资产或业务未按照第10.4或10.5节的规定进行处置或转让，或在任何此类业务已终止的情况下，应在清算或解散生效后转让给债务人，或由债务人以其他方式拥有或经营;（g）任何非债务人子公司可以改变其法律形式，只要没有发生违约事件，并且违约事件正在持续或将由此产生; ]保留区
（i）该等交易可能完成;及（j）借款人及附属公司可完成合并、合并解散、清盘、清盘、合并或处置，构成或以其他方式导致，第10.4节允许的交易（除根据第10.4（d）和（y）节的规定处置借款人及其子公司的全部或绝大部分资产外，借款人或任何担保人以外的任何人）、根据第10.5节（第10.5（l）节除外）允许的投资以及根据第10.6节（第10.6（f）节除外）允许的任何限制性付款。 10.4处置限制借款人不会也不会允许子公司进行任何处置，除非（在每种情况下，均应遵守本第10.4节最后一句中规定的要求，如适用）：（a）借款人及附属公司可出售、转让或以其他方式处置（i）过时、可忽略、不重要、破旧、不经济、废料、使用过的，或剩余或封存的资产（包括在该等处置的预期中已翻新的任何该等设备）或在业务中不再使用或有用或在商业上不再适宜维持的资产，（ii）库存或货物（iii）现金及现金等价物，（四）无形资产（包括允许任何非关键性知识产权的注册或注册申请在正常业务过程中失效或放弃），及（v）用作慈善捐款或类似馈赠的资产，但该等资产对借款人及附属公司的能力而言并不重要，作为一个整体，在正常过程中开展其业务;（b）借款人和子公司可以进行资产处置，其公平市场价值总计不超过5，000，000美元;（c）（i）借款人及附属公司可向借款人或任何其他信贷方作出处置，（ii）任何非信贷方的子公司可 [145对借款人或借款人的任何其他子公司的处置，以及（iii）任何信贷方可以在第10.13节允许的范围内对非信贷方进行处置;（d）借款人和任何子公司可进行第10.2、10.3节允许的任何交易;（第10.3（j）节除外）、10.5（第10.5（l）节除外）或10.6节（第10.6（f）条除外）;（e）借款人和任何子公司可以租赁、转租、许可（仅在非排他性的基础上，就任何知识产权而言）或分许可（仅在非排他性的基础上，就任何知识产权而言）正常经营过程中的不动产、动产或知识产权;（f）财产处置（包括同类交换），条件是（i）该财产被交换为类似替代财产（不包括其上的任何靴子）的购买价格的信贷，或（ii）该处置的收益被用于该替代财产的购买价格，在每种情况下，根据法典第1031条或其他规定;（g） ]; (h) [保留区]（h）处置（i）对合营企业的投资（无论法律实体的形式如何），合营安排及类似具约束力的安排所载的合营各方之间的惯常买卖安排或认沽/认购安排，或（ii）（一）在合营企业和类似安排所要求的范围内，就合营企业的解散或终止向合营企业披露;
保留区[（j）附表10.4所列的处置;（k）在收到回收事件或报废程序的净现金收益后，转让受回收事件影响或与任何报废程序相关的财产;（l）与应收账款或应收票据的收回或妥协或应收账款或应收票据转换有关的应收账款或应收票据的处置或折扣应收款;（m） ]保留区
（n）任何对冲协议的签立（或修订）、结算或解除;（o） [保留区]（p）放弃或放弃合约权利，以及和解或放弃合约或诉讼申索; 146（q）
保留区[保留区]；(S)借款人及任何附属公司可(I)终止或以其他方式终止其与借款人或任何附属公司的成本分担协议，并结算与此相关的任何交叉付款；(Ii)将任何公司间对股票或任何股票的债务转换为公司间债务；(Iii)清偿、贴现、注销、免除或取消借款人或任何附属公司所欠的任何公司间债务或其他债务；或(Iv)清偿、贴现、注销、免除或取消控股公司任何现任或前任顾问、经理、董事、高级管理人员或雇员、借款人、其任何直接或间接母公司所欠下的任何债务。或其任何附属公司或其任何继承人或受让人；(T)在以下范围内作出的任何财产处置：(1)该等财产以自该财产起计270天内购买的同类重置财产的购买价格作抵扣，或(2)该项处置所得的收益迅速用于该重置财产的购买价格(该重置财产实际上是在该重置财产购买后270天内购买的)；。[保留区](V)在正常业务过程中交换服务或其他资产的任何交换，这些服务或其他资产对借款人和子公司的业务作为一个整体具有相当或更大的公平市场价值或有用性，由借款人真诚地确定；和(W)借款人和/或任何子公司之间或之间的任何资产的处置，作为与上文(A)至(V)款所允许的其他处置有关的基本上同时进行的临时处置；但在任何该等产权处置生效后，在受该等产权处置所规限的资产构成抵押品的范围内，该等资产须继续受证券文件的留置权所规限，或重新加入证券文件的留置权。尽管有上述规定，除非根据第10.4(E)条的规定，否则贷方不得将任何知识产权转让或以其他方式处置给非贷方的任何人。基本上在完成任何处置(第10.4(A)(Ii)条允许的任何处置除外)的同时，如果在该处置中处置了构成借款基础5%以上的资产，借款人应提交一份更新的借款基础证书，使该处置具有形式上的效力，以及足以证明在该处置生效后应立即满足可用性要求的147项计算。10.5投资限制借款人将不会、也不会允许子公司进行任何投资，但下列情况除外：(A)根据与他人的联合营销安排、原始设备制造商安排或开发协议，扩大贸易信贷、资产购买(包括购买库存、用品、材料和设备)以及知识产权的许可或贡献；(B)在进行此类投资时以现金或现金等价物进行投资；(C)[保留区](D)截止日期当日存在的或依据截止日期存在的具有法律约束力的书面承诺进行的投资；(E)借款人或任何附属公司(I)为交换借款人或任何该等附属公司所持有的任何其他投资或应收账款，而持有的任何其他投资或应收账款，而该等其他投资或应收账款是与该等原始投资或应收账款的发行人、债务人或借款人的发行人、债务人或借款人之间的纠纷或判决破产、清算、重组或资本重组或达成和解的结果，或(Ii)借款人或任何附属公司就任何违约的担保投资或任何其他所有权转让而止赎，或(Iii)由于诉讼的和解、妥协或解决所致，与非关联人的仲裁或其他纠纷或对他人不利的裁决或判决；(F)
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（g）（i）借款人或任何子公司对借款人或任何作为信贷方的子公司的投资，（ii）根据第10.13节，任何非信贷方的子公司对任何其他非信贷方的子公司的投资，（iii）根据第10.13节，从外汇储备账户中提取的初始公司间交易和对非信贷方的子公司的任何投资的预付款，以及（iv）根据L/C为非信贷方的任何子公司提供的贷款; [保留区] 6.11 [保留区]（j）构成第10.4节允许的资产处置所收到的非现金收益的投资;
保留区[; 148（l）由第10.1节允许的债务、留置权、限制性付款、基本变化和处置构成或产生的投资（第10.1（d）、10.1（e）和10.1（g）（ii）条除外）、10.2、10.3（第10.3（j）节除外）、10.4（第10.4（d）节除外）、10.6（第10.6（f）节除外）、10.7或10.8节（如适用）;（m）向借款人的任何直接或间接母公司发放的贷款和垫款，以代替但不超过第10.6条允许向该母公司发放的受限制付款的金额;但该等贷款和垫款的总金额应使借款人和子公司根据第10.6条的适用条款进行限制性付款的能力减少该等金额;（n）属于在正常业务过程中给予贸易信贷而产生的应收账款或应收票据性质的信贷展期的投资，（o）正常业务过程中的投资，包括背书收款或存款以及与客户达成的符合以往惯例的惯常贸易安排;（p）在正常业务过程中向雇员、顾问或独立订约人预支的工资，或向雇员、顾问或独立订约人预支的其他薪金或补偿;（q）借款人或任何租赁附属公司的担保义务（资本租赁除外）或不构成债务的其他义务，在每种情况下，在正常业务过程中订立;（r） ]保留区[（s）第10.1节允许的套期保值协议投资; ]保留区[（u）由现金和现金等价物存款组成的投资，作为第10.2节允许的抵押支持; ]保留区[保留区]（x）包括在正常业务过程中购买和获得资产和服务的投资;（y）正常业务过程中的投资，包括第3条关于收款或存款的背书和第4条与客户达成的符合以往惯例的惯常贸易安排;
保留区[（aa）在借款人或其任何子公司破产的情况下，与向雇员、董事、合伙人、成员、顾问、独立承包商或其他服务提供商的利益的“拉比”信托或受债权人索赔影响的其他授予人信托的赔偿安排有关的出资;（bb）与养老金信托有关的投资;（cc） ]保留区
；(Dd)[保留区] (e) [（ee）对在正常业务过程中开立的存款账户、商品和证券账户的投资;（ff）仅在该等投资反映本协议允许的投资价值增加的范围内的投资;及（gg）对预付费用、为收取及租赁而持有的可转让票据、公用事业及工人补偿的投资，履约保证金及在正常业务过程中因经营业务而订立的类似保证金。 尽管有上述规定，除根据（i）第10.5（l）条（仅与第10.4（e）或（g）条允许的处置有关）或（ii）第10.5（w）条的但书外，不得进行由信贷方向非信贷方子公司转让或以其他方式处置任何知识产权构成或由此产生的投资。 10.6限制性付款的限制借款人将不会，也不会允许子公司宣布或支付任何限制性付款，除非： ]保留区
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；(C)借款人可以向Holdings支付所需数额的限制性付款，每次付款不得重复：(1)[保留区](Ii)(A)在正常业务过程中发生的一般营运开支及其他公司间接费用及开支(包括由第三方提供的行政、法律、会计及类似开支)，或。(B)借款人或其任何附属公司的现任董事或高级职员(为免生疑问，不包括董事的任何前任董事或高级职员)提出的任何弥偿申索；或。(Iii)特许经营税和消费税以及维持控股公司存在所需的其他费用、税项和开支；。(Iv)[保留区]. (b) [保留区](6)应付给借款人的任何直接或间接母公司的高级职员、雇员或顾问的惯常薪金、花红、遣散费及其他福利，但这些薪金、花红及其他福利须归因于借款人及其附属公司的所有权或经营权；[保留区]；(E)由留置权、基本变动、产权处置、投资或第10.2、10.3(第10.3(J)条除外)、第10.4(第10.4(D)条除外)、第10.5(第10.5(L)条除外)、第10.7或10.8条(视何者适用而定)所准许的其他付款或由留置权、基本变动、产权处置、投资或其他付款所构成或产生的限制付款；。[保留区]. (g) [保留区]. (h) [保留区]保留区
保留区
保留区[(L)借款人可以支付第10.11节所述款项(第10.11(B)节除外)；]保留区[保留区]; (v) [保留区]; (w) [保留区]; (x) [保留区]; (y) [保留区]; (z) [及151(S)每间附属公司可向借款人及借款人的其他附属公司作出有限制的付款(如属非全资附属公司的有限制付款，则向借款人及任何其他附属公司支付，与该附属公司的其他股份拥有人相比，按比例或超过按比例，以彼等拥有相关类别股份的权益为基准)。10.7对债务预付款的限制和修订，除非订单中的条款和条件明确允许，否则借款人将不会也不会允许子公司强制或自愿支付或预付、回购或赎回或以其他方式抵销债务人在第11章申请破产保护之前发生或产生的任何债务。10.8对附属分配的限制借款人将不会，也不会允许任何非担保人的子公司直接或间接地产生、以其他方式导致或忍受存在或生效对任何该等子公司(X)(I)向借款人或作为其股票或股票等价物担保人的任何子公司支付股息或进行任何其他分配，或关于任何其他权益或参与其利润，或(Ii)支付欠借款人或作为担保人的任何子公司的任何债务的能力的任何自愿的限制，(Y)向借款人或作为担保人的任何附属公司提供贷款或垫款，或(Z)向借款人或作为担保人的任何附属公司出售、租赁或转让其任何财产或资产，除非(在每种情况下)因下列原因而存在的该等产权负担或限制：(A)在成交日期生效的合同产权负担或限制，包括根据本协议、有关现金管理协议的文件、现有的对冲义务以及与DIP定期贷款信贷协议有关的合同产权负担或限制；(B)购买货币债务和资本化租赁债务，该债务和资本化租赁债务对如此获得的财产、该等财产或资产的任何替换及其附加和添加、受此种安排限制的获取后的财产、其收益及其产品和有关该等财产的习惯担保存款施加上文(X)、(Y)或(Z)款所述性质的限制，以及就任何贷款人提供的设备(或附加或附属的资产以及添加和添加的设备)进行多次融资的情况下，由该贷款人提供资金的其他设备(或附加或附属于该设备的资产以及附加物和附加物)(不言而喻，该项限制不得适用于如非该项取得则该项限制本不适用的任何财产)；(C)适用的法律或任何适用的规则、条例或命令，或对借款人或其任何附属公司具有监管权力的任何政府当局的任何请求；]保留区[152(E)出售资产的合同，包括根据为出售或处置借款人的子公司的全部或几乎所有股票或股票等价物或资产而订立的协议对该子公司的惯例限制，以及对受本协议允许的受留置权限制的资产的转让的限制；(F)(X)依据第10.1和10.2节以其他方式准许产生的有担保债务，该等债务限制债务人处置担保该等债务的资产的权利；及。(Y)对转让受本条例所准许的留置权所规限的资产的限制或产权负担(但就任何该等留置权而言，仅在该等转让限制只适用于该留置权的标的资产的范围内)；。(G)客户根据在正常业务过程中订立的合约所施加的现金或其他存款或资产净值的限制或产权负担，或客户在正常业务过程中订立的合约所施加的限制或产权负担；。(H)根据第10.1节的规定，允许在截止日期之后发生的子公司的其他债务或不合格股票所施加的限制或产权负担；。(I)合资企业协议或安排和其他类似协议或安排中仅与该合资企业(包括其资产和子公司)以及由此发行的股票或股票等价物有关的习惯规定；。(J)在每种情况下在正常业务过程中订立的租约、分租、许可证、分许可证或类似协议中的习惯规定；。]保留区[；(L)对租赁、转租、许可证、再许可或以其他方式允许的资产出售协议的习惯限制，只要这些限制与财产权益、权利或受其约束的资产有关；(M)限制在正常业务过程中订立的任何协议的转让或转让的习惯规定；(N)]保留区[；或(O)以上(A)至(N)条所指的合同、文书或义务的任何修订、修改、重述、续期、增加、补充、退款、延期、替换或再融资所造成的上述(X)、(Y)和(Z)款所指类型的任何产权负担或限制；但该等修订、修改、重述、续期、增加、延期、补充、退款、延期、更换、重组或再融资(X)，在借款人的善意判断下，就该等产权负担及其他限制而言，与该等修订、修改、重述、续期、增加、延期、重组、补充、退款、替换或再融资或(Y)不会实质上损害借款人在到期时(由借款人真诚地厘定)支付信贷文件项下债务的能力；]153但(X)任何优先股在以普通股支付股息或清算分配之前优先收取股息或清算分配，以及(Y)向借款人或作为担保人的任何附属公司提供的贷款或垫款(包括对借款人或作为担保人的任何附属公司产生的其他债务适用任何停顿要求)，不应被视为构成此类产权负担或限制。10.9组织文件的修改借款人不会，也不会允许任何贷款方以对贷款人有实质性不利的方式修改或修改其任何组织文件，除非适用法律另有要求。10.10允许的活动和转让给母公司控股公司将不从事任何实质性的经营或经营活动；但在任何情况下，应允许下列及任何附带活动：(I)其对借款人的股票(但不包括其他直接附属公司)的所有权，包括与债务有关的股息和付款以及与股票有关的其他金额的收付，(Ii)其合法存在的维持(包括发生和支付与此种维持有关的费用、成本和开支及税款的能力)，(Iii)履行其对交易的义务、信贷文件和任何其他允许的债务文件，(Iv)[保留区](5)融资活动，包括发行证券、产生债务、收取和支付股息及分派、向借款人的资本供款及担保借款人及附属公司的义务；(6)如适用，以综合集团成员身分参与税务、会计及其他行政事宜，并向其附属公司提供通常由控股公司向其附属公司提供的行政及顾问服务(包括金库及保险服务)；(7)持有任何现金或其他财产(但不经营任何财产)；(8)支付及收取任何股息；(Ix)向高级职员及董事提供弥偿；(X)[保留区]; (j) [，(Xi)与完成交易有关的活动和拟进行的活动，(十二)]保留区[、(Xiii)]保留区[、(Xiv)]保留区[，(Xv)与借款人或任何附属公司的任何交易，但以本第10条、(Xvi)条明确允许的范围为限。]Avaya DIP ABL信贷协议的签名页[出借人：S/苏珊·奥纳尔名称：总裁副行长/S/菲利普·坦科拉名称：总裁副行长附件一转换日期条件(I)(A)RSA计划和确认令应完全有效且不起作用，(B)RSA计划和确认令均未被修改或修改或放弃其中包含的任何条件，(C)RSA计划及RSA计划下的“生效日期”生效前的所有条件须与转换日期同时发生或将会同时发生，(D)DIP定期贷款已转换为退出定期贷款(定义见生效日期生效的DIP定期贷款信贷协议)，及(E)所有HoldCo可转换票据债权(定义见RSA计划)将根据RSA计划清偿。(Ii)于转换日期，(I)不得有任何未偿还贷款及(Ii)于该日期或之前完成的任何供股生效后，(A)借款人及其附属公司的负债定义(A)及(B)项所述类型的负债不得超过8.15亿美元及(B)借款人及其附属公司的现金及现金等价物应反映于根据公认会计原则于该日期编制的资产负债表内的现金及现金等价物的金额不得少于4亿美元。(Iii)DIP收益账户和外汇储备账户中持有的所有现金和现金等价物应已转入公司的现金管理系统，并符合第9.18节的规定。(V)在转换日期或将贷款转换为退出ABL贷款时，不应存在违约或违约事件，也不会导致违约或违约事件。(Vi)行政代理应已收到以下各项：(1)已签署的信贷协议副本，其中记录了根据第2.15节在转换日期退出ABL融资的条款和条件，该条款和条件应与第2.15节和退出ABL条款说明书一致。(2)在每个情况下，行政代理根据第2.15节的合理要求，根据第2.15节的规定，在转换日期签署的关于退出ABL贷款的修订和重述信用证文件的签立副本(包括但不限于对ABL债权人间协议的修订和重述)，以反映退出ABL贷款的有效性和贷款在转换日期转换为退出ABL贷款的情况，并由贷款方和签署页上所列的其他各方正式签署。附件一(3)贷方纽约特别律师Kirkland&Ellis LLP的习惯法律意见，其形式和实质令行政代理和所需贷款人合理满意。(4)由获授权人员发出的证明书，证明在转换日期符合上文第(I)、(Ii)、(Iii)、(Iv)及(V)条所载的条件。(5)首席财务官证明书，证明在转换日期，在实施本计划预期于该日期完成的所有交易后，每一贷方均有偿付能力。1（以及与之相关的任何协议），以及（ii）对于借款人而言，本协议项下预期的信贷延期，（b）截至转换日期，各信贷方组织文件的真实完整副本，（c）良好的信誉证书（在相关司法管辖区内存在此类概念的情况下）借款人和担保人，以及（d）该等决议及/或书面同意授权代表该等信用证方签署信用证文件的该等信用证方代表的在职证明及签名样本。 (7)行政代理人和每一个提出同样要求的代理人应收到（转换日期前至少一（1）个营业日）管理代理人或贷款人在转换日期前以书面形式合理要求的有关借款人和各担保人的所有文件和其他信息，这些文件和其他信息是监管机构根据适用的“了解您的客户”以及反洗钱规则和法规，包括但不限于《爱国者法案》，前提是此类请求已在转换日期前至少三（3）个营业日提交给借款人。 (8)在转换日，借款人应符合受益所有权法规项下的“法人客户”资格，行政代理人应（至少在转换日前3个营业日）收到与借款人有关的受益所有权证明。]附件I就以上第(Iv)款而言，“偿付能力”就任何人而言，是指截至转换日期，(I)该人财产(以持续经营为基础)的现时公平可出售价值，大于在综合基础上支付其债务及其他债务(附属债务、或有债务或其他负债)的可能负债所需的款额，因为该等债务及其他负债在正常业务过程中已成为绝对债务及到期债务；(Ii)该人并未从事，亦不会从事，(I)(I)于本协议日期拟进行的业务的资本额不合理地少，且(Iii)该人士有能力偿付其附属、或有或有或其他的债务及负债，因为该等负债在正常业务过程中成为绝对及到期的，及(Iv)该等人士的资产(按持续经营基准)的公允价值超过其附属、或有或有或其他的债务及负债。就这一定义而言，任何或有负债在任何时候的数额，应计算为根据当时存在的所有事实和情况，代表可合理预期成为实际负债或到期负债的数额(无论这种或有负债是否符合财务会计准则第5号报表下的权责发生标准)。为确定转换日期是否已发生，已签署本协议的每一贷款人应被视为已同意、批准或接受或满意本协议规定须经行政代理或该贷款人同意或批准、可接受或满意的每一文件或其他事项。行政代理应将转换日期通知借款人和贷款人，该通知具有决定性和约束力。
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.