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信贷协议第4号融资修正案
融资修正案第4号，日期为2024年10月30日（本“修正案“），日期为2023年6月12日的信贷协议（在本协议日期之前修订、重述、修改和重述、补充或以其他方式修改，”信贷协议“经本修正案修正，”修订后的信贷协议”），由KUEHG Corp.，特拉华州公司（“借款人”），KinderCare Learning Companies，Inc.，特拉华州公司（“初始持股量)，KC Sub，LLC，特拉华州一家有限责任公司(中级控股”）、巴克莱银行（“巴克莱”），作为行政代理人（以该身份，包括其任何继任者，“管理代理”）并作为贷款文件项下的抵押代理以及不时当事人的银行和金融机构（“出借人借款人、其他贷款方、每个同意的初始定期贷款出借人(定义见下文)、以“新定期贷款出借人”身份在本合同签字页上列出的每个额外出借人(以这种身份出借的每个此类额外出借人，新定期贷款机构总而言之，新定期贷款机构与转换初始定期贷款的贷款人(定义见下文)一起，修订第4号贷款人“)，循环贷款人，并得到行政代理的确认。信贷协议或经修订信贷协议中定义并在此使用的术语应与信贷协议或经修订信贷协议(视何者适用而定)所赋予的含义相同，除非本协议另有规定。
W I T N E S S E T H:
鉴于，受信贷协议的条款及条件规限，包括第2.17节根据信贷协议，借款人可通过订立再融资修正案等方式，以再融资定期贷款的形式，从任何贷款人或任何额外贷款人获得信贷协议对全部或任何部分初始定期贷款(定义见信贷协议)的债务进行再融资；
鉴于，借款人已要求在紧接第4号修正案生效日期(定义见下文)之前未偿还的初始定期贷款的每个持有人(该等贷款人、现有定期贷款机构“)提供再融资定期贷款(”2024年再融资定期贷款)金额相等于(或少于)该贷款人在紧接第4号修正案生效日期前所持有的初始定期贷款的未偿还本金金额(该等未偿还的首次定期贷款，再融资定期贷款“)对再融资定期贷款进行全额再融资(2024年再融资“)，而每间现有定期贷款贷款人已按本协议所附表格实质上交付同意书表现出 (a “同意书以及签立并交付同意书的每个现有定期贷款贷款人，同意提供初始定期贷款的贷款人“)愿意按本协议规定的条款和条件提供2024年再融资定期贷款；
鉴于，每个没有在下午12：00之前签署并向管理代理交付同意的现有定期贷款机构。纽约市时间2024年10月24日，被视为拒绝执行一项再融资修正案，该修正案要求适用类别的所有贷款人以2024年再融资定期贷款的形式提供信贷协议对债务进行再融资(每个此类贷款人，a非同意的初始定期贷款机构以及由该贷款人持有的任何再融资定期贷款，未转换的初始定期贷款“)，且借款人已通知该等非同意初期贷款贷款人及行政代理，其拟终止每名该等非同意初期贷款贷款人的初期贷款承诺，并偿还借款人因该等非同意初期贷款贷款人所承担的与该贷款人所持有的非转换初期贷款及参与有关的所有债务，在每种情况下，根据第3.07节 信贷协议（“2024年提前还款”);
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鉴于，2024年再融资定期贷款的收益将用于营运资金和其他一般企业用途，包括为2024年再融资和2024年预付款、限制性付款和贷款文件条款未禁止的其他交易提供资金；
鉴于、巴克莱、摩根大通银行、N.A.(“JPM”）、摩根士丹利高级融资公司(“女士“)，高盛美国银行(”GS”）、麦格理资本（美国）公司(“麦格理“)、瑞银证券有限责任公司(”瑞银集团)、德意志银行证券公司(DBSI”）和美国银行证券公司(“美国银行“并与巴克莱银行、摩根大通、MS、GS、麦格理、瑞银、DBSI和美国银行一起，”修正案第4号联合首席发行人和账簿管理人“）已同意担任2024年再融资定期贷款和本修正案的联合首席担保人和簿记管理人，借款人特此承认这一点;
鉴于，依据第2.17节 在信贷协议中，仅需要借款人执行的再融资修正案、每项第4号修正案均已确认并经行政代理确认才能生效本修正案;提供行政代理不承认本修正案不应影响本修正案的效力；以及
鉴于借款人还要求修改信贷协议的某些条款，并且每个循环贷款人都已同意；
现在，因此考虑到上述规定，并出于其他良好和有价值的对价，特此确认已收到并充分支付，双方特此同意如下：
第一条
修正
修正
第1.1条。
对信贷协议的修订。在满足下列先决条件的前提下第三条本修正案自第4号修正案生效之日起生效，如附件A所示，对信贷协议进行了修订，使其中新加入的所有双下划线条款(文本上以与以下示例相同的方式表示)：带双下划线的文本)应被视为已插入，且其中的所有删除文本(以与以下示例相同的方式在文本中表示)：被删除的文本）应视为已从中删除。
第二条
设立再融资定期贷款
设立再融资定期贷款
第2.1条。
在符合本协议和经修订的信贷协议的条款和条件的情况下，(I)在其同意中选择选项A(同意和转换)的每个同意的初始定期贷款贷款人(该现有定期贷款贷款人，a转换初始定期贷款机构“)特此同意本修正案，并同意将所有(或行政代理分配给该转换初始期限贷款机构的较小本金的初始期限贷款)转换为2024年再融资定期贷款(此类转换后的再融资期限贷款，转换后的初始定期贷款“)，(Ii)在其同意书中选择选项b(同意和成交后结算)的每个同意的初始期限贷款贷款人特此同意本修正案，并同意从行政代理机构以新期限贷款贷款人的身份接受2024年再融资定期贷款的转让，金额相当于该同意初始期限贷款贷款人在第4号修正案生效日期后不久的所有(或行政代理可能分配给该同意初始期限贷款贷款人的较小的再融资定期贷款本金)，及(Iii)每家新期限贷款机构已同意为2024年再融资定期贷款提供资金，本金总额相等于该新期限贷款机构名称旁所载的承诺额附表1在此以“2024年再融资期限”为标题
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贷款承诺“(或借款人和行政代理共同确定的较低本金金额)(每项此类承诺、2024年再融资定期贷款承诺“)。如果任何现有定期贷款贷款人是同意的初始定期贷款贷款人，但根据本款第一句获得2024年再融资定期贷款的分配，本金总额低于该现有定期贷款机构分配用于转换为2024年再融资定期贷款的再融资定期贷款的本金总额，则就如此分配用于转换的再融资定期贷款与其分配的2024年再融资定期贷款之间的本金差额而言，该现有定期贷款贷款人应被视为非同意初始期限贷款贷款人，该本金差额应被视为未转换的初始定期贷款。
第2.2条。
于第4号修正案生效日期：(I)每名第4号修正案贷款人，个别而非联名，须按照下列条款向借款人提供2024年再融资定期贷款(或如属任何转换为初始定期贷款的贷款人，则视为作出)第2.17节通过向行政代理提供立即可用的资金(对于任何转换的初始定期贷款贷款人，通过将其再融资定期贷款转换为2024年再融资定期贷款)，金额等于其2024年再融资定期贷款承诺，来履行信贷协议及其条款和修订后的信贷协议；(2)借款人应全额偿还再融资定期贷款和未转换的初始期限贷款，方法是指示行政代理机构使用根据上文第(I)款提供给行政代理机构的资金和手头的任何可用现金，以全额偿还再融资的定期贷款和未转换的初始期限贷款，以及与这些贷款有关的任何应计和未支付的利息和费用。双方理解并同意：(I)在各转换初始期限贷款贷款人被视为发放2024年再融资定期贷款，并向该转换初始期限贷款贷款人支付与其转换为转换初始期限贷款的再融资定期贷款金额有关的所有应计和未付利息和费用的同时，该转换初始期限贷款贷款人所持有的再融资定期贷款的该选择金额应被视为消灭，(Ii)任何转换初始期限贷款贷款人将不会收到从2024年再融资定期贷款所得款项向持有再融资定期贷款的其他现有定期贷款机构预付的任何款项，但以该等转换初始期限贷款贷款人的转换初始期限贷款为限。
第2.3条。
2024年再融资定期贷款应符合修订后的信贷协议和其他贷款文件的规定。
第三条
有效性的条件
有效性的条件
第3.1节。
生效日期。本修正案自下列日期起生效(“修正案4生效日期“)上：
(a)
行政代理应已收到：
(i)
本修正案的副本由借款人、其他贷款方、每个同意的初始期限贷款机构、每个新期限贷款机构和每个循环贷款机构正式签署；
(ii)
作为贷款当事人特别顾问的Kirkland&Ellis LLP的意见，其形式和实质令行政代理人合理满意；
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(iii)
在适用的范围内，由每个借款方的组织国(或当地同等机构)的适用国务秘书出具的良好信誉证明；
(iv)
由负责官员签署的各贷款方在截止日期提交的基本格式的证明，附(X)各贷款方自第4号修正案生效日期起完全有效的组织文件的正确和完整的副本，或证明自第3号修正案生效日期以来各贷款方的组织文件未有任何修改或修改；(Y)批准执行的各贷款方董事会(或类似管理机构)的决议或其他行动的副本；本修正案的交付和履行，以及(Z)贷款方负责人的在职证书和/或其他证书，证明每一位受权担任与本修正案相关的负责人的身份、权限和能力，或证明在修正案第3号生效日期向行政代理交付的贷款方负责人的在职证书和/或其他证书没有变化；
(v)
由首席财务官或其他高级人员于截止日期交付的格式大致上与借款人具有同等责任的证明书，说明借款人及其受限制附属公司的偿付能力(在本修订及本修订拟进行的交易生效后)；
(vi)
借款人的责任人员出具的证明书，证明(X)在第4号修正案生效日期当日并无发生及持续发生指明的违约事件，或在实施本协议拟进行的交易后仍会发生违约事件，及(Y)信贷协议第V条或任何其他贷款文件所载借款人及其他贷款方的陈述及担保于第4号修正案生效日期当日及截至该日在各重要方面均属真实无误；提供在该等陈述和保证明确提及较早日期的范围内，该等陈述和保证在截至该较早日期时在所有重要方面均属真实和正确，而任何有关“重要性”或“重大不利影响”的该等陈述和保证在各方面均属真实和正确；
(vii)
承诺贷款通知，应至少在第4号修正案生效日期前一个工作日送达；提供该项借用请求可以第4号修正案生效日期为条件，如第4号修正案生效日期并未在所要求的借用日期发生，则该请求可予撤销；及
(viii)
每一新定期贷款贷款人应在第4号修正案生效日期前至少3个工作日收到其合理的书面要求，并在第4号修正案生效日期前至少10个工作日收到(I)为遵守适用的“了解您的客户”和反洗钱法律而与贷款方有关的所有文件和其他信息，以及(Ii)在借款人符合实益所有权条例下的“法人客户”资格的情况下，收到实益所有权证明或借款人确认最近交付给行政代理的实益所有权证明仍然真实和正确。
(b)
借款人应已支付(X)与本协议拟进行的交易相关的向第4号修正案联合牵头安排人和账簿管理人支付的所有费用(或者，根据借款人的选择，该等费用可从2024年再融资定期贷款的收益中抵消)和(Y)行政代理和第4号修正案贷款人的自付费用(包括Davis Polk&Wardwell LLP、行政代理的律师和
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4号修正案贷款人)先前以书面约定在第4号修正案生效日期付款，并在第4号修正案生效日期前至少三(3)个工作日提交发票。
第四条
重申
重申
第4.1节。
。本文中包含的章节标题仅为参考方便，不得出于任何其他目的构成本文的一部分，也不得赋予其任何实质性的效力。
第5.5条。
成本和开支
成本和开支
。符合下列限制
第11.04条根据《信贷协议》，借款人同意自掏腰包支付所有合理且有记录的与本修正案的准备、执行和交付相关的行政代理费用和开支。
第5.6条。
可分割性。如果本修正案的任何条款在任何司法管辖区被裁定为非法、无效或不可执行，本修正案其余条款或义务的合法性、有效性和可执行性，或此类条款或义务在任何其他司法管辖区的合法性、有效性和可执行性，不应因此而受到影响或损害双方应本着善意进行谈判，以经济效果尽可能接近非法、无效或不可执行条款的有效条款取代非法、无效或不可执行的条款。某一特定法域的规定无效，不应使该规定在任何其他法域无效或无法执行。(C)第5.7条。没有更新;修改的效果.
。在第4号修正案生效日期及之后，任何贷款文件(包括附件中的任何附件或附表)中对信贷协议的每一次提及，应被视为对经本修正案修订的信贷协议的提及。自第4号修订生效日期起，信贷协议中凡提及“本协议”、“本协议”或类似含义的词语，以及其他贷款文件中对信贷协议的每一次提及(包括但不限于“本协议”、“本协议”及类似含义的词语)，应指并应是对经本修正案修订的信贷协议的提及，且本修正案和信贷协议应一并理解并被解释为单一文书。在信贷协议或其他贷款文件中，凡提及“贷款人”、“贷款人”、“定期贷款人”、“担保方”或任何类似术语时，应视为包括第4号修正案中的贷款人。除本修正案明文规定外，在类似或不同情况下，本修正案不得视为使任何贷款方有权同意信贷协议或任何其他贷款文件所载的任何条款、条件、义务、契诺或协议，或放弃、修订、修改或以其他方式更改。本修订或本修订拟提交的任何其他文件中明示或暗示的任何内容，均不得解释为免除或以其他方式解除初始控股、中间控股或信贷协议下的借款人或任何贷款文件下的借款人或任何其他贷款方在贷款文件下的任何义务和责任，除非明文规定，该等义务在所有方面都继续存在，只是条款按本修正案的规定进行了修改。除在此明确修订或在此明确阐明外，(I)信贷协议和所有其他贷款文件的所有条款和条款现在和将来都是完全有效的，并在此予以批准和确认，(Ii)本修正案不应以默示或其他方式限制、损害、放弃或以其他方式影响贷款人或行政代理人在信贷协议或任何其他贷款文件下的权利和补救，也不得更改、修改、修订或以任何方式影响信贷协议或任何其他贷款文件中包含的任何条款、条件、义务、契诺或协议，所有这些都已在各方面得到批准和确认，并将继续完全有效，(Iii)本修正案不取消信贷协议项下未偿还款项的义务，或解除或解除任何贷款文件或其任何其他担保或其任何担保的留置权或优先权，而在紧接第4号修正案生效日期之前，为保证偿付债务的抵押品代理人的利益而存在的留置权和担保权益，在所有方面都继续存在，并对所有债务具有十足的效力和效力，及(Iv)本文所载的任何内容不得解释为取代或更新信贷协议或任何其他贷款文件或为其提供担保的其他贷款文件项下的未偿还债务，这些债务应保持完全有效，除非在每一种情况下，在此或由与之相关或与之相关的任何文书进行修订、重述、替换和取代。本修正案在任何情况下都应构成“贷款文件”
信贷协议和其他贷款文件。本修正案仅适用于本合同中明确提及的信贷协议的规定，并有效。各担保人还同意，信贷协议、本修正案或任何其他贷款文件中的任何内容均不应被视为要求担保人同意未来对信贷协议的任何修订。尽管本修订有任何相反规定，除巴克莱银行外，除巴克莱银行外，任何修订第4号联合牵头安排人及账簿管理人(或其各自的联营公司)均不会在本修订下拥有任何权力、责任或责任，但其各自作为贷款人的身份除外，而该等修订第4号联合牵头安排人及账簿管理人将享有经修订信贷协议第X条的利益。. 第5.8条。修正。对本修正案任何条款的修改或放弃，除非由本修正案各方以书面形式签署，且另有要求，否则无效.
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第11.01条
信贷协议的。 第5.9节。
通知期
. 行政代理人、申请初始定期贷款贷方和新定期贷款贷方特此承认并同意借款人已遵守 第2.07节 与再融资定期贷款预付款相关的信贷协议。第5.10节。
定期贷款再融资
. 以下签署人的借款人负责官员特此指定且每位申请初始定期贷款贷方、新定期贷款贷方和行政代理承认并同意，2024年再融资定期贷款构成“信贷协议再融资债务”和“再融资定期贷款”修订后信贷协议项下的所有目的。签名页面如下(a)特此为证(b)，双方已于上文第一条所述日期促使本修正案正式签署。
KUEHG Corporation.，
作为借款人发信人：
6
/s/安东尼m.阿曼迪
姓名： Anthony M.阿曼迪
标题： 首席财务官KINDERCARE LEARNING COMPANIES，Inc.，KC SUb，LLC，KUEHG Corporation.，
KC REE Holdings，Inc.，
REE Investmentt，LLC，REE HOLDCO，Inc.，REE MIDWESt，Inc.，REE SOUTHEASt，Inc.，
KINDERCARE EDUCATION HOLDINGS LLC
知识学校有限责任公司，KINDERCARE EDUCATION LLC，
[托儿所教育在WORk LLC，]
7
KU EDUCATION LLC，幼儿园学习中心有限责任公司，
KCE冠军有限责任公司，
CDLC Early Learning，LLC，
各自作为担保人，作者：
/s/安东尼m.阿曼迪
姓名： Anthony M.阿曼迪
标题： 首席财务官
[信贷协议再融资修正案第4号签署页]
由以下人员确认：
巴克莱银行，
作为管理代理
发信人：
/s/肖恩·杜根
姓名： 肖恩·杜根
标题：董事
[信贷协议再融资修正案第4号签署页]
麦夸里资本基金有限责任公司
作为一个旋转按钮
发信人：
/s/ Ayesha Farooqi
姓名： 阿伊莎·法鲁奇
标题：授权签字人
发信人：
/s/ Jeff Abt 姓名： 杰夫·阿伯特
标题：授权签字人
[信贷协议再融资修正案第4号签署页]
KKR国家贷款有限责任公司
作为一个旋转按钮
发信人：
/s/约翰·诺克斯
姓名： 约翰·诺克斯职位：首席财务官
[信贷协议再融资修正案第4号签署页]
高盛美国银行
作为一个旋转按钮
发信人：,
/s/普里扬库什·戈斯瓦米
姓名： 普里扬库什·戈斯瓦米标题：授权签字人
[信贷协议再融资修正案第4号签署页]
高盛贷款合作伙伴有限责任公司
作为一个旋转按钮发信人：
/s/普里扬库什·戈斯瓦米
姓名： 普里扬库什·戈斯瓦米
标题：授权签字人
[信贷协议再融资修正案第4号签署页],
德意志银行纽约分行
作为一个旋转按钮发信人：
/s/菲利普·坦科拉
姓名： 菲利普·坦科拉
标题：董事
发信人：,
/s/苏珊·奥纳尔
姓名： 苏珊·奥纳尔标题：董事
[信贷协议再融资修正案第4号签署页]
新泽西州公民银行
作为一个旋转按钮
发信人：,
/s/丹妮尔·勒维罗内
姓名： 丹妮尔·勒维罗内标题：董事
[信贷协议再融资修正案第4号签署页]
珠宝金融有限责任公司
作为一个旋转按钮
发信人：,
/s/JR年轻
姓名： J.R.年轻标题：经营董事
[信贷协议再融资修正案第4号签署页]
北卡罗来纳州美国银行
作为一个旋转按钮发信人：
/s/斯科特·托尔钦
姓名： 斯科特·托尔钦
标题：经营董事
[信贷协议再融资修正案第4号签署页],
摩根士丹利高级基金有限公司。
作为一个旋转按钮发信人：
/s/迈克尔·金
姓名：迈克尔·金
职务：总裁副
[信贷协议再融资修正案第4号签署页],
瑞银股份公司斯坦福分公司
作为一个旋转按钮发信人：
/s/穆罕默德·阿夫扎尔
姓名： 穆罕默德·阿夫扎尔
标题：董事
发信人：,
/s/彼得·哈佐格鲁
姓名： 彼得·哈佐格鲁标题：授权签字人
[信贷协议再融资修正案第4号签署页]
摩根大通银行，N.A.，
作为一个旋转按钮
发信人：,
/s/克里斯汀·张
姓名： 张克里斯汀职务：总裁副
[信贷协议再融资修正案第4号签署页]
巴克莱银行，
作为一个旋转按钮
发信人：,
/s/肖恩·杜根
姓名： 肖恩·杜根标题：董事
[信贷协议再融资修正案第4号签署页]
巴克莱银行，
作为第4号修正案贷款人发信人：
/s/肖恩·杜根
姓名： 肖恩·杜根
标题：董事
[信贷协议再融资修正案第4号签署页],
[信贷协议再融资修正案第4号签署页]
附件A期限贷款人同意第4号融资修正案
同意（这个”
期限表同意
”）再融资修正案第4号（“
修正案
“）修改了日期为2023年6月12日的某些信贷协议（在本协议日期之前修订、重述、修改和重述、补充或以其他方式修改，”
信贷协议”）由KUEHG Corp.（“
借款人
)、KinderCare Learning Companies，Inc.作为初始持股，KC Sub，LLC作为中间持股，各贷款人、循环贷款人和巴克莱银行(Barclays Bank PLC)(
巴克莱
“)，作为行政代理人和抵押品代理人。除非本协议另有规定，在本修订或信贷协议中定义并在此使用的术语应具有修订或信贷协议中赋予它们的含义(视适用情况而定)。
选中下面的第一个或第二个框
备选方案A--同意和转换
以下签署的定期贷款人在此不可撤销地无条件地批准并同意修正案，并同意将该定期贷款人现有的初始定期贷款(或行政代理可能分配给该定期贷款的较低本金)的未偿还本金的100%转换为本金金额相同(或行政代理可能分配给该定期贷款的较低本金)的2024年再融资定期贷款。
备选案文b--同意和结算后结算
以下签署的定期贷款人在此不可撤销地无条件批准并同意修正案，并选择在修正案第4号生效日期预付该定期贷款人持有的所有初始定期贷款，并获得2024年的再融资定期贷款转让，金额相当于该定期贷款人在第4号修正案生效日期后不久的全部(或行政代理可能分配给该定期贷款人的较低的初始定期贷款本金金额)。
附件A
贷款人名称
通过姓名：标题：对于需要第二行签名的任何机构：通过姓名：标题：附件A表现出修订后的信贷协议信贷协议
日期截至2023年6月12日
(as经日期为2024年3月26日的第1号修正案、日期为2024年4月24日的第2号修正案修订， |
和: 第3号修正案，日期为2024年10月10日
|
和第4号修正案，日期为2024年10月30日 |
随处可见: KINDERCARE LEARNING COMPANIES，Inc.，
|
作为初始控股，
KC SUb，LLC，: ____________________________________________________
作为中间控股， |
巴克莱银行 作为行政代理和抵押品代理 |
巴克莱银行，
麦格理资本（美国）公司，
高盛银行美国分行，
德意志银行证券公司，
瑞银证券有限责任公司，
美国银行证券公司，杰富瑞金融有限责任公司，KKR资本市场有限责任公司，以及公民银行，北卡罗来纳州)
作为联席牵头安排人和联席簿记管理人
目录
页面
第一条
定义和会计术语
第1.01节
定义的术语 6
第1.02节,
其他解释性规定
第1.03节
会计术语;等
________________
第1.04节
舍入
第1.05节
对协议、法律等的引用
第1.06节
当日时间
第1.07节
可用金额交易 89
第1.08节
形式计算;有限条件交易;篮子和比率合规性 89
1
第1.09节
货币等值一般 93
第1.10节
无限制托管子公司
第1.11节 无现金交易 94
第1.12节 付款和绩效 8687
第1.13节 基准更换设置 8889
第二条 承诺和借款8889
第2.01节 定期贷款 8889
第2.02节 循环贷款 8889
第2.03节 摇摆线贷款。 99
第2.04节 签发信用证和购买其中的发票
第2.05节 转换/延续 111
第2.06节 可用性 1129394
第2.07节 预付款项
第2.08节 终止或减少承诺 9495
第2.09节 偿还贷款 9495
第2.10节
利息
第2.11节 费 1229596
第2.12节 利息和费用的计算 9798
第2.13节 负债的证据
第2.14节 一般付款 124102103
第2.15节 分享付款等
第2.16节 增量设施 126
第2.17节 再融资修正案 112113
第2.18节 贷款延期 119120
第2.19节 允许的债务交易所 120121
第2.20节 违约贷款人 121122
第2.21节 货币等值
第2.22节 判决货币 123124
第三条 税收、增加成本保护和违法行为123124
第3.01节 税
第3.02节 非法性 125126
第3.03节 无法确定费率
第3.04节 成本增加，回报减少;资本充足性 128129
第3.05节 供资损失 129130
第3.06节 适用于所有赔偿请求的事项 131132
第3.07节 在某些情况下更换贷款人 146134135
第3.08节 生死存亡137138
第四条 借款的先决条件137138
第4.01节
首次借款的条件
第4.02节 截止日期后所有借款的条件 149138139
第五条 陈述和保证142143
第5.01节 存在、资格和权力;遵守法律 142143
第5.02节 授权;无违规行为 143144
第5.03节 政府授权 144145
第5.04节 约束力 151145146
-i-
第5.05节 财务报表;无重大不利影响 151
第5.06节 诉讼 147148
第5.07节
劳工问题
第5.08节 财产所有权;优先权 147148
第5.09节 环境事项
第5.10节
税
第5.11节 [保留] 149150
第5.12节 附属公司150151
第5.13节 保证金规定;投资公司法 150151
第5.14节 公开
第5.15节 知识产权;许可证等 153
第5.16节 偿付能力 151152
第5.17节 美国爱国者法案、FCPA和OFAC 151152
第5.18节 抵押文件 154151152
第5.19节 收益的使用151152
第5.20节 被动控股公司 152153
第六条 平权契约152153
第6.01节 财务报表152153
第6.02节 证书;其他信息 157152153
第6.03节 通告152153
第6.04节 支付某些税款
第6.05节 保存存在等 153154
第6.06节 [保留] 159153154
第6.07节 保险的维护 159
第6.08节 遵守法律 154155
第6.09节 账簿和记录 154155
第6.10节
检查权
第6.11节 保证义务和提供安全的契约 160155156
第6.12节 进一步保证 163
第6.13节 与附属机构的交易 158159
第6.14节 子公司的指定 158159
第6.15节 评级维持 158159
第6.16节 关闭后事宜
第6.17节 收益的使用
第6.18节 收件箱电话 159160
第七条 消极契约159160
第7.01节 留置权 159160
第7.02节 投资
第7.03节 负债
第7.04节 根本性变化 163164
第7.05节 处置 165166
第7.06节 受限制付款 183165166
第7.07节 [保留] 187165166
第7.08节 [保留] 187165166
第7.09节 繁重的协议 187166167
第7.10节
控股公司债务
第7.11节 初级融资的预付款等;初级融资文件的修改 166167
-ii-
第八条 财务契约170171
第8.01节 第一优先权净杠杆率 190174175
第8.02节 借款人的治愈权 178179
第九条 违约事件及补救措施180181
第9.01节 违约事件 191
第9.02节 违约事件后的补救措施
第9.03节 资金运用
第十条 管理代理和其他代理
第10.01条 行政代理人的任命和权力 188189
第10.02条 作为收件箱的权利 188189
第10.03条
无罪条款
第10.04条 特工的依赖
第10.05条 职责授权 190191
第10.06条
不依赖代理人和其他贷方;代理人披露信息
第10.07条 代理人的赔偿
第10.08条 无其他职责;其他代理人、首席采购员、经理等 193194
第10.09条 行政代理人或抵押代理人的解雇 194195
第10.10节
行政代理人可以提出索赔证明;信用招标
第10.11节 抵押品和担保事项 195196
第10.12条 删除行动 205196197
第10.13条 任命补充行政代理人 196197
第10.14条 债权人间协议 197198
第10.15条 有担保现金管理协议和有担保对冲协议 198199
第10.16条 预扣税 207198199
第10.17条 某些ERISA事项 199200
第10.18条 返还某些付款。 200201
Xi文章 杂类200201
第11.01条 修正案、豁免等 210201202
第11.02条 通知和其他通讯;传真件 203204
第11.03条 不得放弃;累积补救措施
第11.04条 律师费用和费用 219205206
第11.05条 借款人的赔偿 206207
第11.06条 整理;付款预留 206207
第11.07条 继承人和受让人
第11.08节 保密 230207208
第11.09条 抵销 232208209
第11.10条
利率限制
第11.11条 对口部门;整合;有效性
第11.12条 电子签署发票和某些其他文件 233216217
第11.13节 生死存亡218219
第11.14条 可分割性
第11.15条 管辖法律 219220
第11.16条 陪审团放弃审判权 221222
第11.17条 责任限制 221222
第11.18条 个人责任的限制
-iii-
第11.19条 美国爱国者法案通知
第11.20条 法律程序文件 232233
第11.21条 没有咨询或信托责任 232233
第11.22条 约束力
第11.23条 几项义务;债权人权利的独立性 233234
第11.24条 标题 233234
第11.25条 确认并同意受影响金融机构的救助 233234
第11.26条 有关任何受支持的QFC的确认 234235
附表 1.01 不受限制的子公司235236
2.01 承诺和信用证贷款 2.04 现有信用证235236
5.06 诉讼 5.07 劳工问题235236
5.08 物质不动产 5.12 附属公司235236
6.13 与附属公司的现有交易 6.16结束交易后的事项235236
7.01 现有优先权 7.02 现有投资236237
7.03 现有债务 11.02 行政代理办公室，某些通知请求236237
展品 形式236237
A-1 承诺贷款通知 A-2 发布通知236237
A-3 摇摆线贷款请求 A-4 转换/延续通知237238
B-1 定期贷款票据
B-2 循环贷款票据
B-3 摇摆线贷款票据
C 合规证明
D-1 任务和假设
D-2 附属机构分配通知
E 担保
F 担保协议
G 非银行证书
H 公司间隶属协议
我 偿付能力证书
J 预付款通知
K 初级债权人间协议
L 平等优先权债权人间协议
M 拍卖程序
信贷协议
本信用协议于2023年6月12日签订（经日期为2024年3月26日的第1号修正案、日期为2024年4月24日的第2号修正案修订，
和
第3号修正案日期为10月10日，
2024年，以及日期为10月30日的第4号修正案，
2024年），由KUEHG Corp.，特拉华州公司（“
借款人
”），KinderCare Learning Companies，Inc.，特拉华州公司（“
首字母
持有量
”）、KC Sub，LLC，特拉华州有限责任公司（“
-iv-
中级
持有量
”）、巴克莱银行（“
巴克莱
”），作为行政代理人（以该身份，包括其任何继任者，“
管理代理
”）并作为担保代理人（以该身份，包括其任何继任者，”
抵押品代理
“）根据贷款文件，不时的各发行银行、不时的Swing Line贷款人以及不时的各贷款人（统称为“
-v-
出借人
“并且，单独来说，一个”出借人初步陈述借款人已要求（a）适用贷款人以以下形式向借款人提供信贷：（i）本金总额为1，325，000，000.00美元的初始定期贷款和（ii）本金总额为160，000，000.00美元的循环承诺，在每种情况下，在截止日期作为有担保信贷融资，并且（b）根据本协议的条款，循环贷款人不时发放循环贷款，摇摆线贷款人发放摇摆线贷款，发行银行在每种情况下发放信用证。考虑到本协议所载的相互契约和协议，本协议各方订立契约并达成如下协议：第一条定义和会计术语第1.01节 定义的术语。本协议中使用的下列术语的含义如下：2024年再融资定期贷款 “指根据第2.01(A)(Iv)节向借款人提供的任何定期贷款。2024年再融资定期贷款承诺“对于每个贷款人来说，指其在修正案第4号生效日期向借款人提供2024年再融资定期贷款的义务，以代表贷款人根据修正案第4号将发放的2024年再融资定期贷款的最高本金金额表示，每项此类承诺可能会(A)根据第2.08节不时减少，以及(B)根据根据一项或多项转让和假设由该贷款人或向该贷款人转让而不时减少或增加。每家贷款人2024年再融资定期贷款承诺的金额(X)等于该贷款人2024年再融资定期贷款承诺(定义见第4号修正案)或(Y)，否则在转让和假设中列出，根据该转让和假设，该贷款人应已承担其2024年再融资定期贷款承诺(视情况而定)。额外的贷款人“指在任何时候不是现有贷款人的任何人(自然人除外)，并且同意提供以下任何部分的任何部分：(A)根据第2.16节的增量修正案提供的增量贷款；或(B)根据第2.17节的再融资修正案对债务进行再融资的信贷协议；提供每一个额外的贷款人应得到行政代理的批准，对于提供任何循环承诺的任何这种额外的贷款人，开证行(在构成的范围内表现出根据第11.07(B)(Iii)(B)、(C)和/或(D)条的规定，在每一种情况下，只要行政代理、开证行和/或循环额度贷款人根据第11.07(B)(Iii)(B)、(C)和/或(D)条的规定，需要行政代理、开证行和/或周转额度贷款人根据第11.07(B)(Iii)(B)、(C)和/或(D)条的规定分别征得行政代理、开证行和/或周转额度贷款人的同意，才能将该类别的承诺或贷款转让给该额外贷款人。管理代理“具有本协定导言段中规定的含义。”).
行政代理办公室
“指行政代理人的地址和附表11.02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
“指由行政代理提供的表格形式的行政调查问卷。
受影响的金融机构
受影响的金融机构
“指(A)任何欧洲经济区金融机构或(B)任何英国金融机构。
附属公司“就任何人而言，是指直接或通过一个或多个中间人间接控制或受指定人控制或与指定人共同控制的另一人。 “
“控制“指直接或间接拥有指导或导致指导某人管理或政策的权力，无论是通过行使投票权的能力、合同还是其他方式。 “
“受控“具有与之相关的含义。为免生疑问，任何牵头经办人、代理人或其各自的贷款关联公司均不得被视为控股、借款人或其各自的任何附属公司的关联公司。就本协议和其他贷款文件而言，Jefferies LLC及其附属公司应被视为Jefferies Finance LLC及其附属公司的附属公司。
“附属债务基金“指(A)保荐人的任何联营公司善意的银行、债务基金、不良资产基金、对冲基金、互惠基金、保险公司、金融机构或在正常过程中从事投资、获取或交易商业贷款、债券或类似信贷延伸业务的投资工具，在每种情况下，其组织的主要目的不是为了进行股权投资，以及(B)由第三方管理的任何投资基金或许可投资者的账户(包括通过许可投资者所投资的托管账户、基金或指数基金)，而该投资基金或账户并非组织或主要用于进行股权投资，在(A)和(B)条款的每一种情况下，保荐人或任何其他核准投资者均无权直接或间接指导或促使该实体的投资政策。
关联贷款人
“指在任何时候是保荐人或保荐人的关联公司的任何贷款人，在任何情况下不包括(A)控股公司、(B)借款人、(C)控股公司的任何子公司、(D)任何自然人和(E)任何关联债务基金。
“关联贷款人循环上限“具有第11.07(H)(Iv)节规定的含义。
“关联贷款机构定期贷款上限“具有第11.07(H)(Iii)节规定的含义。
“代理费信函“指借款人与巴克莱银行之间的代理费函件，日期为2023年4月25日，经修订、重述、修改或补充
“表现出根据其条款不时地执行。
“代理方“具有第11.02(E)节规定的含义。特工相关人员“指代理人及其各自的联营公司，以及该等人士及其联营公司的高级人员、董事、股东、雇员、代理人、代理律师、合伙人、受托人、顾问及其他代表。代理“统称为行政代理、抵押品代理、联合簿记管理人、补充行政代理(如有)和首席安排人。
“总承诺额”是指所有贷方的承诺。协议指根据本协议条款不时修改、重述、修改或补充的本信贷协议。
“协议货币“具有第2.22(B)节规定的含义。
“替代曲线S“系指(A)就循环贷款而言，是指行政代理人、借款人和各循环贷款人应借款人的请求以书面约定的欧元、英镑和任何其他货币(美元除外)；(B)对于借款人和适用的开证行应借款人的请求以书面约定的任何信用证、欧元、英镑和任何其他货币(美元除外)；(C)就任何增量融资而言，指借款人和提供此类增量融资的贷款人以书面约定的任何货币；
“提供只有在行政代理为以这种替代货币计价的产品提供代理服务在行政上可行的范围内，才应允许这种替代货币。
“第1号修正案“指借款人、其他贷款方、第1号修正案受益方于2024年3月26日制定的信贷协议第1号增量修正案，并经行政代理确认。
第1号修正案生效日期
“具有第1号修正案所指明的涵义。
“修正案1联合首席发行人和账簿管理人“具有第1号修正案所指明的涵义。
“第1号修正案警告“具有第1号修正案所指明的涵义。
“修正案1定期贷款承诺“具有第1号修正案所指明的涵义。
“修正案1定期贷款“具有第1号修正案所指明的涵义。
“修正案第2号“指借款人、其他贷款方、第2号修正案、循环贷款人于2024年4月24日签署的信贷协议第2号再融资修正案，并经行政代理确认。
“修正案2生效日期“具有第2号修正案中规定的含义。
“第2号修正案首席发行人和账簿管理人“具有第2号修正案中规定的含义。表现出修正案2贷款人
““具有第2号修正案中规定的含义。第2号修正案定期贷款承诺
““具有第2号修正案中规定的含义。第2号修正案定期贷款
““具有第2号修正案中规定的含义。修正案第3号
““是指借款人、其他贷款方、第3号修正案、循环贷款方、日期为2024年10月10日的信贷协议第3号修正案，由借款人、其他贷款方、第3号修正案贷方、循环贷方方共同制定，并得到行政代理人的认可。修正案3生效日期
““具有第3号修正案中规定的含义。修正案第3号联合首席发行人和账簿管理人
““具有第3号修正案中规定的含义。第3号修正案贷款人
““具有第3号修正案中规定的含义。修正案第4号
““指借款人、其他贷款方、贷款方双方于2024年10月30日签署的信贷协议第4号再融资修正案，并经行政代理确认。修正案4生效日期
““具有第4号修正案中规定的含义。修正案第4号联合首席发行人和账簿管理人
“具有第4号修正案中规定的含义。
“第4号修正案贷款人“具有第4号修正案所指明的涵义。
“年度财务报表指报告实体及其合并子公司截至2022年12月31日或前后的财政年度的经审计的综合资产负债表和相关的综合经营报表以及全面收益(亏损)和现金流量。
“反腐败法“1977年美国《反海外腐败法》和类似的反腐败法，由任何对借款人或其受限制的子公司拥有管辖权的政府机构实施，因为借款人或其受限制的子公司是在此类司法管辖区内组织的。
“反洗钱法“指与洗钱或恐怖分子融资有关的任何法律，包括但不限于《美国爱国者法》，由任何对借款人或其受限制的子公司拥有管辖权的政府当局因在该司法管辖区内组织而实施。
“适用承诺费“指自结算日起及之后的百分比
“每年这将等于，
“自结算日起至行政代理应根据第6.02(A)节收到适用的财务报表和合规证书之日后的第二个营业日，计算截至结算日后的第一个完整会计季度的第一个留置权净杠杆率，0.50%每年
“每年
“根据截至#年最后一天的第一留置权净杠杆率，在标题“适用承诺费”项下列明如下表现出
“管理代理根据第6.02(A)节收到的最新合规性证书中规定的适用测试期：第一留置权
“净杠杆率当日及以后
“ 修正案号 生效日期，关于
“首字母2024年再融资
“ 定期贷款，百分比 每年
“ 等于（i）对于定期基准贷款， %和（ii）对于基本利率贷款， 4.00%和（y）在第一号修正案和之后。
(a)
2生效日期，关于初始贷款，百分比 每年,
(b)
等于（i）定期基准贷款，4.50%;（ii）基本利率贷款，3.50(x)在第2号修正案生效日期之前，关于循环贷款，百分比 每年
等于，（i）对于定期基准贷款或RFR贷款，5.00%;（ii）对于基本利率贷款，4.00%;
提供
自行政代理根据第6.02（a）条收到适用财务报表和合规证书之日后的第一个营业日起和之后，计算截止日期后的第一个完整财政季度的第一个连续净杠杆率，循环贷款的“适用利率”应为适用利率 |
以下分别在“基本利率利差”或“期限基准利差或RFR利差”标题下列出，基于行政代理根据第6.02（a）条收到的最新合规证书中列出的截至适用测试期最后一天的第一保留权净杠杆率： |
净杠杆率 |
0.50% |
基本利率价差 |
0.375% |
期限基准利差或RFR利差 |
0.25% |
等于或低于4.00到1.00，但高于3.75到1.00等于或低于3.75至1.00
“和(y)第2号修正案前后
“生效日期，但在第4号修正案之前 生效日期，循环贷款的“适用利率”应为适用利率 每年
以下分别在“基本利率利差”或“期限基准利差或RFR利差”标题下列出，基于行政代理根据第6.02（a）条收到的最新合规证书中列出的截至适用测试期最后一天的第一保留权净杠杆率：
第一留置权
净杠杆率
“基本利率价差期限基准利差或RFR利差
(a)
4.00至1.00以上表现出等于或低于4.00到1.00，但高于3.75到1.0024等于或低于3.75至1.00)在修订编号自生效之日起，循环贷款的“适用利率”为适用利率。每年根据管理代理根据第6.02(A)节收到的最新合规性证书中规定的截至适用测试期最后一天的第一留置权净杠杆率，分别在标题“基本利率价差”或“期限基准价差或RFR价差”下列出：5.003.25第一留置权净杠杆率基本利率价差期限基准价差或RFR利差4.00至1.00以上等于或低于4.00到1.00，但高于3.75到1.002.25%;
(b)
等于或低于3.75至1.00对于适用的增量修正案、延期修正案、再融资修正案或其他适用的贷款文件中规定的任何其他类别的贷款。在行政代理收到适用的财务报表和符合第6.02(A)条规定的合规证书之日后的第一个营业日之前，循环贷款适用利率的变化不得生效。在借款人没有按照第6.02(A)节的要求向行政代理提交适用信息的任何时候，循环贷款的适用利率应按照第一留置权净杠杆率超过4.00至1.00来确定。在收到第6.02(A)条规定的适用信息后的1个工作日内，行政代理应向每个贷款人发出电话、传真或电话通知(以书面形式确认)自上述生效日期起生效的适用利率。表现出财务报表和凭证向行政代理支付因该适用期间该适用利率增加而应计的额外利息，在该10个营业日期限届满之前，不应被视为已就该少付款项发生任何违约或违约事件；
提供 |
|
“在任何时候，就任何类别的承诺或贷款而言，是指该类别的贷款人。 |
核准基金 |
4.00% |
5.00% |
“就任何贷款人而言，指由(A)该贷款人、(B)该贷款人的关联公司或(C)管理、建议或管理该借出机构的实体的关联公司管理、建议或管理的任何基金。 |
3.75% |
4.75% |
分配和假设 |
3.50% |
4.50% |
; 律师费“指任何律师事务所或其他外部法律顾问的所有合理和有合理详细记录的费用、开支和支出。拍卖代理“指(A)行政代理人或(B)借款人雇用的任何其他金融机构或顾问(不论是否行政代理人的联营公司)，就任何贴现贷款预付款(定义见附件M)担任安排人；提供 未经行政代理人书面同意，借款人不得指定行政代理人为拍卖代理人（不言而喻，行政代理人没有义务同意担任拍卖代理人）;
提供 |
|
自动展期信用证 |
“具有第2.04(B)(Iii)节规定的含义。 |
3.50% |
4.50% |
可用金额
指在任何时候( |
3.25% |
4.25% |
可用金额 |
3.00% |
4.00% |
; (z“)，累积额，总和不少于零，等于以下各项之和，不重复：加相当于留存超额现金流量金额的金额；
加 |
|
表现出 |
2.25% |
3.25% |
|
加 |
2.00% |
3.00% |
就根据第7.02(Y)(Ii)节作出的投资总额而言，借款人及其受限制附属公司对重新指定为受限制附属公司或与借款人或其任何受限制附属公司合并或合并的任何非受限制附属公司的投资，或在已成为受限制附属公司或已与借款人或其任何受限制附属公司合并或合并的任何合营企业的投资，在每种情况下，只要在适用的范围内，是指借款人及其受限制附属公司在重新指定或合并或合并时，在紧随结算日后的营业日起至可用金额参考日(包括可用金额参考日期)期间的可用金额(以借款人及其受限制附属公司在该不受限制的附属公司或合营企业的投资的公允市场价值为限)； |
1.75% |
2.75% |
就根据第7.02(Y)(Ii)节作出的投资总额而言，在未反映为资本回报的范围内，借款人或任何受限制附属公司因出售、转让或以其他方式处置其在任何非限制性附属公司或任何合营企业的所有权权益而收到的所有现金收益净额，在每种情况下均指借款人或任何受限制附属公司或任何合营公司在紧接结算日(包括并包括可用额参考日)期间收到的与出售、转让或以其他方式处置其在任何非限制性附属公司或合资企业的所有权权益有关的所有现金收益净额，但在每种情况下，对该非限制性附属公司或合营企业的原始投资是根据可动用金额进行的；
(c)
加
在根据第7.02(Y)(Ii)节确定投资金额时未反映为资本回报的范围内，借款人及其受限制子公司根据可用金额进行的投资的回报(包括本金的偿还和利息的支付)、利润、分配和类似金额的现金或现金等价物；
加
低于“所需ECF预付金额”定义的任何超额现金流，以及根据一般资产出售篮子处置抵押品所得的任何现金净额，以及低于第2.07(B)(Ii)(B)节规定的金额的抵押品的意外事故；加根据第2.07(B)节规定必须支付的、贷款人已拒绝并由借款人根据第2.07(B)节保留的强制性预付款金额(但仅限于借款人或任何受限制子公司的其他担保债务的持有人在要求向该等持有人提供的范围内)，从紧随结算日起至可用金额参考日期(包括可用金额参考日期)期间；
“减号表现出
“根据一般资产出售篮子或意外事故处置抵押品所得的现金净额超过规定的资产出售预付款金额；减号
“(A)[预留]、(B)[预留]、(C)根据第7.02(Y)(Ii)条进行的任何投资的总金额、(D)根据第7.06(Q)(Ii)条支付的限制性付款的总金额和(E)根据第7.11(A)(Vii)(2)条预付的初级融资本金总额，在每一种情况下，在紧接成交日期后的营业日开始至可用金额参考日期结束的期间内(以及，就本条(K)而言，而不考虑预期交易中该参考日期的可用量的预期用途)。可用量参考日期
“”具有“可用金额”定义中指定的含义。可用RP金额
““指在任何时候，根据第7.06(K)节、第7.06(Q)(I)节和第7.06(R)节允许支付的限制性付款总额。“可用男高音”指自确定日期起，就当时的基准(如适用)而言，(A)如果该基准(或其组成部分)是定期利率，则为该基准(或其组成部分)的任何期限，该基准(或其组成部分)用于或可用于根据本协议确定一个利息期的长度，或(B)在其他情况下，根据该基准(或其组成部分)计算的任何利息付款期，该基准(或其组成部分)是用于或可用于确定根据该基准计算的利息支付的任何频率，在每种情况下，截至该日期且不包括，为免生疑问，根据第1.13(D)节从“利息期”的定义中删除的该基准的任何基准期(但包括根据第1.13(D)节在“利息期”的定义中添加的基准期的任何基准期)。自救行动“指适用的决议机构对受影响金融机构的任何责任行使任何减记和转换权力。, 自救立法“指（a）对于实施欧洲议会和欧盟理事会第2014/59/EU号指令第55条的任何欧洲经济区成员国，欧盟救助立法附表中描述的该欧洲经济区成员国的实施法律、法规规则或要求，以及（b）对于英国，英国《2009年银行法》第一部分（经不时修订）和适用于英国的任何其他法律、法规或规则，涉及不健全或倒闭的银行、投资公司或其他金融机构或其附属机构的解决（通过清算、管理或其他破产程序除外）。
“破产法“指经修订的”美国法典“第11条。
“巴克莱“具有本协定导言段中规定的含义。基本费率 “指的是任何一天的汇率波动每年
(a)
等于（a）联邦基金利率中的最高值 加
(b)
1%的1/2、（b）最优惠利率和（c）该日的期限SOFR，利息期为一个月 加
(c)
1.00%(如果该日不是营业日，则为紧接其前一个营业日)；提供
（1）尽管有上述规定，“基本费率”在任何情况下均不得低于（1）
(d)
首字母2024年再融资
(e)
定期贷款，1.50% 每年
(f)
及（2）对于任何循环贷款，1.00% 每年
(g)
及（2）为免生疑问，任何一天的SOFR期限应为该日前两（2）个工作日的一个月利息期的SOFR期限， 表现出
(h)
这样的费率由术语SOFR管理员公布。由于最优惠利率、联邦基金利率或期限SOFR的变化而导致的基本利率的任何变化，应分别从最优惠利率、联邦基金利率或期限SOFR的此类变化的生效日期起生效。基本利率贷款
(i)
“指以美元计价、根据基本利率计息的贷款。基本利率期限SOFR确定日
“具有”SOFR“一词的定义中规定的含义。
(j)
基准“最初是指期限SOFR参考利率、EURIBO利率和每日简单RFR中的每一个；
(k)
提供
“如果基准转换事件或提前选择参加选举(视情况而定)，以及与SOFR期限参考利率、EURIBO利率或每日简单RFR(视情况而定)或当时的基准发生相关的基准替换日期，则“基准”是指适用的基准替换，只要该基准替换已根据第1.13(B)节替换了该先前基准利率。基准替换
““指对于任何基准过渡事件或提前选择加入选举，对于任何可用的期限，指由行政代理和借款人选择的替代基准利率，并适当考虑(I)有关政府机构对替代利率或确定该利率的机制的任何选择或建议，(Ii)任何演变中的或当时盛行的市场惯例，用于确定利率以取代当时以美元计价的银团信贷安排的基准，以及(Iii)根据拟议的美国财政部条例第(1.1001-6)款(截至其日期)对借款人的任何影响，以及任何后续法规或最终法规或与此相关的其他指导；提供
如果如此确定的基准替换将低于下限，则该基准替换将被视为下限首字母
“2024年再融资定期贷款和循环贷款，视情况而定。
“基准更换符合性变更“指就任何基准替换而言，任何技术、行政或操作上的改变(包括改变”基本利率“的定义、”营业日“的定义、”美国政府证券营业日“的定义、”利息期“的定义或任何类似或类似的定义(或增加”利息期“的概念)、确定利率和支付利息的时间和频率、借款请求或提前还款的时间、转换或继续通知、回顾期间的适用性和长度、第1.13节的适用性、违约条款的适用性和其他技术上的变化，行政或操作事项)经借款人同意，行政代理决定可能适当地反映该基准替代的采用和实施，并允许行政代理以与市场惯例基本一致的方式对其进行管理(或者，如果行政代理经借款人同意决定采用该市场惯例的任何部分在行政上不可行，或者如果行政代理经借款人同意确定不存在用于管理该基准替代的市场惯例，则行政代理经借款人同意决定的其他管理方式，对于本协议和其他贷款文件的管理是合理必要的)。
“基准更换日期“指与当时的基准有关的下列事件中最早发生的事件：
“就“基准过渡事件”的定义(A)或(B)款而言，以(I)其中所指的公开声明或信息的发布日期和表现出
“(2)该基准(或用于计算该基准的已公布组成部分)的管理人永久或无限期停止提供该基准(或其组成部分)的所有可用承诺书的日期；对于“基准过渡事件”定义的第（c）条，监管监管机构确定并宣布该基准（或计算该基准时使用的已发布组成部分）的管理人不具有代表性的第一个日期; 提供即使在该日期继续提供该基准(或其组成部分)的任何可用基准期，该不具代表性将通过参考该(C)款中提及的最新声明或出版物来确定；或在提前选择参加选举的情况下，由行政代理和借款人共同选择的日期，并由行政代理在征得借款人同意的情况下，通过通知贷款人指定。为免生疑问，在第(A)或(B)款的情况下，就任何基准而言，当(A)或(B)款所述的适用事件发生时，将被视为已发生“基准更换日期”，该事件涉及该基准的所有当时可用的承租人(或用于计算该基准的已公布组成部分)。基准过渡事件“指与当时的基准有关的以下一个或多个事件的发生：该基准（或用于计算该基准的已发布部分）的管理人或其代表的公开声明或信息发布，宣布该管理人已停止或将停止永久或无限期地提供该基准（或其该部分）的所有可用期限; 提供 在该声明或发布时，没有继任管理人将继续提供该基准（或其该部分）的任何可用期限;监管监管人对该基准(或用于计算该基准的已公布组成部分)的管理人、联邦储备系统理事会、纽约联邦储备银行、对该基准(或该组成部分)的管理人具有管辖权的破产官员、对该基准(或该组成部分)的管理人具有管辖权的解决机构或对该基准(或该组成部分)的管理人具有类似破产或解决权限的法院或实体的公开声明或信息发布，该声明指出，该基准(或其组成部分)的管理人已经停止或将永久或无限期地停止提供该基准(或其组成部分)的所有可用基调，但在该声明或公布时，没有继任管理人将继续提供该基准(或其组成部分)的任何可用基调；或监管机构为该基准(或用于计算该基准的已公布组成部分)的管理人发布的公开声明或信息发布，宣布该基准(或其组成部分)的所有可用承诺书不具有代表性，或截至指定的未来日期将不具有代表性。为免生疑问，如果公开声明或发布上述信息，则对于任何基准，将被视为已发生“基准转换事件”表现出关于该基准的当时可用的每个基调(或在其计算中使用的已公布的分量)发生。基准过渡开始日期
“指(A)在基准过渡事件的情况下，(I)适用的基准更换日期和(Ii)如果该基准过渡事件是预期事件的公开声明或信息发布，
(B)在提前选择参加选举的情况下，指行政代理人和借款人共同选择的、由行政代理人和借款人指定的日期。经借款人同意，向贷款人发出通知。
“基准不可用期限“是指自基准更换日期发生之时开始的期间(如果有)，如果在基准更换日期时，没有基准更换就本协议项下和根据第1.13节的任何贷款文件的所有目的替换当时的基准，以及(B)结束于基准替换已经为本协议项下的所有目的和根据第1.13节的任何贷款文件替换当时的基准之时。
“实益所有权认证
““指《受益所有权条例》所要求的关于受益所有权的证明。实益所有权监管“指31 C.F.R.第1010.230条。福利计划
“《BHC法案》附属机构一方的”是指“附属公司”（该术语的定义根据12 U.S.C.进行解释1841（k））。董事会对任何人来说，是指该人的董事会、管理委员会或其他管理机构，如果该人由单一实体拥有或管理，则指该实体的董事会、管理委员会或其他管理机构，而“董事”一语是指董事会成员。借款人“具有本协定导言段中规定的含义。
“借款人材料“具有第6.02节规定的含义。
“借贷“指由同一类别、类型和货币的贷款组成的借款，在同一日期进行、转换或继续，就定期基准贷款而言，具有相同的利息期。
(a)
英镑
“或”
“指联合王国的合法货币。
(b)
工作日“指(A)商业银行根据司法管辖区的法律获授权关闭或事实上在该司法管辖区内关闭的任何星期六、星期日或其他日子以外的任何日子表现出
(c)
行政代理办公室的所在地(截止日期为纽约，纽约州)，(B)如果该日涉及美元定期基准贷款的任何利率设置，或涉及SOFR期限的任何其他计算或确定，则上文(A)款所述的任何该日也是美国政府证券营业日，(C)如果该日涉及欧元定期基准贷款的任何利率设置，或涉及欧元定期基准贷款的任何其他计算或确定，第(A)款所述的任何此类日期也是跨欧自动实时总汇快速转账(TARGET)支付系统开放进行欧元支付结算的日期；(D)如果该日期涉及与RFR贷款有关的任何利率设置，或涉及RFR贷款的任何其他计算或确定，则第(A)款所述的任何此类日期也是银行在伦敦一般营业的日期；及(E)如果该日期与以美元、英镑或欧元以外的货币计价的贷款或信用证相关的任何利率设置有关，
资本支出
““指借款人及受限制附属公司在任何期间的所有支出(不论是以现金支付或应计为负债，并在所有情况下包括根据资本化租赁已支出或资本化的所有金额)的总额，而该等支出总额是指借款人及受限制附属公司根据公认会计准则须在综合现金流量表上列为或须列为资本支出的期间。资本化租赁债务
(a)
“指在作出任何厘定时，与资本化租赁有关的负债额，而该负债额在当时须资本化，并在按照公认会计原则编制的资产负债表(不包括资产负债表的脚注)上反映为负债，而该负债额是由借款人真诚厘定的。资本化租赁“指已经或必须根据公认会计准则记录为资本化租赁的所有资本或融资租赁，即使采用《财务会计准则委员会会计准则更新第2016-02号，租赁(专题842)》导致根据公认会计准则对租赁的会计处理发生任何变化，但这种采用将要求将任何租赁(或转让使用权的类似安排)视为资本化租赁；
(b)
提供
(c)
资本化的软件支出
专属自保保险子公司
““指借款人的任何附属公司，其受保险公司（或其任何附属公司）监管。现金抵押品账户 9仅就任何专属自保保险子公司而言，
“表现出根据适用法律，专属自保子公司不被禁止。
“尽管有上述规定，现金等价物应包括以以上(A)或(B)款所列货币以外的货币计价的金额； 提供
“现金管理银行“指(A)在成交之日或在订立任何设定现金管理债务的协议时，上述任何人的代理人、贷款人、开证行或回旋额度贷款人或其关联方的任何人，或(B)借款人不时以书面向行政代理指定的任何其他人，包括就成交日期存在的任何此类现金管理债务而言；
“提供在第(B)款的情况下，该人应已提交了一份加入协议，其格式基本上与本条款附件中作为证据E所附的担保的格式相同。
“现金管理债务指借款人或任何受限制附属公司就任何现金管理服务或与任何现金管理服务有关而欠任何现金管理银行的债务，并由借款人以书面形式指定为“现金管理债务”。
“现金管理服务
“伤亡事件“指任何导致借款人或任何受限制附属公司收到有关任何设备、固定资产或不动产(包括其任何改善)的保险收益或报废赔偿以更换或修理该等设备、固定资产或不动产的任何事件。
“法律上的变化“指在截止日期之后(或如在截止日期后成为贷款人的人，则在该人成为贷款人的日期之后)以下任何情况的发生：(A)任何法律、规则、条例或条约的通过或生效(不包括在截止日期之前通过的法律、规则、条例或条约在截止日期后生效)；(B)任何法律、规则、条例或条约的任何改变，或任何政府当局对其实施、解释或适用的任何改变，或(C)提出或发出任何请求，任何政府当局的指导方针或指令(无论是否具有法律效力)。双方理解并同意：(I)《多德-弗兰克华尔街改革和消费者保护法》(Pub.L.111-203，H.R.4173)，与之相关的所有法律，其所有解释和适用，以及贷款人根据这些法律或在执行或与之相关或与之相关的任何和所有要求、规则、准则、要求和指令的任何遵守情况；以及(Ii)任何美国或外国监管机构为实施国际清算银行或巴塞尔银行委员会的建议而发布的所有请求、规则、准则、要求或指令
“表现出就本协议而言，根据《巴塞尔协议III》或《巴塞尔协议四》(贷款人在成为本协议项下的贷款人之前已知道或可合理预期知道此类规则的潜在影响的情况除外)的每一种情况下的法规和监督做法(或任何继承者或类似的权力机构)，应被视为在截止日期和法律变更之后采用，而不论颁布、通过、发布、颁布或实施的日期。
“控制权的变更£(I)在符合资格的首次公开招股完成前的任何时间，核准持有人不再直接或间接实益拥有合共50%或以上的总普通投票权(定义见《交易所法》第13d-3及13d-5条)，该等总投票权由控股公司已发行及未偿还的股权所代表；或
“在符合资格的首次公开招股完成之日或之后的任何时间，任何人(除核准持有人外)或人士(除一个或多个核准持有人外)构成“集团”(该词在交易法第13(D)和14(D)条中使用，该词在截止日期有效，但不包括任何员工福利计划，以及以受托人身份行事的任何个人或实体，任何该等计划的代理人或其他受信人或管理人)直接或间接成为“实益拥有人”(如交易法下的规则13(D)-3和13(D)-5所界定)，该等权益占当时已发行及尚未发行的控股股权所代表的总普通投票权的50%以上，
“类“在用于(A)任何定期贷款时，是指遵守本协议下相同条款的定期贷款，无论此类定期贷款是否在相同的效力条件下同时发生，和/或已就其支付相同的OID、预付费用或类似费用；(B)任何承诺，是指在本协议项下符合相同条款的承诺，无论这些承诺是在相同的效力条件下同时发生的，和/或是与其发生相同的预付费用或类似费用的
“表现出(C)任何贷款人，是指拥有特定类别的贷款和/或承诺的贷款人。“类别”的确定不应考虑贷款类型或利息期限的差异，也不应考虑税收待遇的差异，包括税收可替换性。循环延期付款承付款应与循环延期付款贷款构成同一类别。循环非延期付款承付款应与循环非延期付款贷款构成同一类别。
“截止日期截止日期EBITDA“指347,000,000.00美元。
“截止日期再融资
“共同投资者“指任何(A)于成交日期持有控股公司(或控股公司的任何直接或间接母公司)股权的人士(保荐人或任何管理股东除外)，及(B)第(A)款所述任何此等人士的联营公司。
“代码加
“(A)购进会计、公允价值会计或资本重组会计的影响(包括向该人及其所作调整的影响)计入该测试期的综合净收入表现出及(B)“直线”租金开支中的非现金部分较少“直线”租金费用的现金部分，超过支付的现金数额；加
“加该人在该测试期内的少数股权支出，包括第三方在任何受限制子公司的少数股权应占的支出或扣除；
(a)
加
(b)
与高级管理人员或雇员持有的股权的展期、加速或支付有关的所有费用、成本、费用、应计项目或准备金；
(c)
加
(d)
在测试期内对资产、证券、服务或业务的递延购买价格支付，包括盈利和或有对价义务、奖金和其他补偿、与持不同意见的股份有关的支付，以及购买价格调整；
(e)
加
(f)
在计入该测试期的综合净收入的范围内，指借款人善意判断合理地预期将被放弃、关闭或停止的业务或业务造成的任何亏损金额；
(g)
加
(h)
(i)
加
(j)
向任何证券化子公司出售与合格证券化融资或与应收账款融资交易有关的应收账款、证券化资产和相关资产的损失或折扣；
(k)
根据第(Xxii)款，在该试用期内，就每个地点(借款人以其合理的酌情决定权真诚地确定该地点的类型)可加回的总金额不得超过：(1)就每个儿童护理中心而言，$450,000.00；(2)就每个幼儿护理中心而言，$275,000.00；(3)就每个收购中心而言，$275,000.00；及(4)$275,000.00，关于每个工作场所的幼儿护理教育中心(在计算合并调整后的EBITDA时，应从每个此类场所的所有实际收入和支出项目中剔除)；
在每一种情况下，减去的幅度均为确定该试验期的综合净收入(无重复，并在适用的范围内按照公认会计原则确定)：
增加该人在该测试期间的综合净收入的任何非现金收益，不包括任何代表冲销任何前期预期现金费用的应计或现金储备的收益(不包括在根据该定义计算综合调整后EBITDA时已重新计入综合净收入的此类现金费用)，
加与前一测试期实际收到的现金相关的任何非现金收益，除非此类现金没有增加该前一测试期的合并调整后EBITDA，加
“任何非常、非经常性、罕见或不寻常的收益，加出售或停止经营的任何净收入(不包括持有待售的停止经营，直至实际出售)。尽管有上述规定，截至2022年6月30日、2022年9月30日及2022年12月31日止财政季度的综合经调整EBITDA应被视为
“95,081,563美元、79,214,530美元和92,047,172美元分别根据第1.08节在形式基础上进一步调整。
“表现出尽管上文有任何规定，在“综合净收入”或“综合调整后EBITDA”的定义中，无论是以费用抵销、报销或直接付款的形式，计入或排除因新冠肺炎大流行而产生的刺激资金或计划，其确定方式应基本上与计算与交易相关的营销材料中包含的融资EBITDA时处理此类刺激资金或计划的方式相同(为免生疑问，该等资金EBITDA等于347,000,000.00美元)。此外，各方承认并同意，对“综合净收入”或“综合调整后EBITDA”所作的任何调整，因收到与营销材料所述类型的“增量刺激投资”有关的付款，不得超过为此目的实际收到的刺激资金或赠款的实际数额。
“合并流动资产“指于任何厘定日期，借款人及受限制附属公司在综合基础上可按公认会计原则适当分类为流动资产的总资产，不包括现金及现金等价物、与基于收入或利润的流动或递延税项有关的金额、持有待售资产、向第三方提供的贷款、退休金资产、递延银行费用及衍生金融工具，亦不包括因应用资本重组会计或购买会计(视属何情况而定)而根据通用会计准则就有关交易或任何已完成收购作出调整的影响。
“合并流动负债“指在任何确定日期，借款人和受限制附属公司在综合基础上的总负债，可根据公认会计原则适当地归类为流动负债，不包括(A)任何出资债务的当前部分，(B)利息的当前部分，(C)基于收入或利润的当期或递延税项的应计项目，(D)与重组准备金有关的任何成本或支出的应计项目，(E)循环贷款、周转额度贷款和信用证债务或任何其他循环贷款，(F)任何资本化租赁债务的当前部分，(G)指定用于具体项目的现金收入产生的递延收入；(H)与未付收益有关的负债；(1)任何其他长期负债的当期部分；以及，此外，不包括因对交易或任何已完成的收购适用资本重组会计或购进会计(视具体情况而定)而根据公认会计准则进行调整的影响。
合并利息支出
“指在任何测试期内，指借款人及其受限制附属公司在最近完成的测试期内以现金(包括资本化利息)支付或应付的与借入款项有关的所有利息、溢价及债务折扣的总和，但为免生疑问，不包括：
“递延融资成本、债务发行成本、佣金、手续费和支出以及任何其他非现金利息的摊销(包括由于收购法会计或下推会计的影响)；非现金利息支出，可归因于根据会计准则汇编815对套期保值协议或其他衍生工具项下债务的按市值计价的变动，
(a)
与利率套期保值协议违约相关的任何一次性现金成本，
(i)
佣金、折扣、收益、全额溢价及其他与任何准许应收账款融资有关的费用及收费(包括任何利息开支)，
表现出
(b)
根据关于任何证券的登记权协议所欠的任何“额外利息”，
就任何债务的全额保费或其他破坏成本支付的任何款项，包括但不限于与交易有关的任何债务，
“与税收有关的罚款和利息，不构成负债的贴现负债的增加或应计，
直接或间接上级单位因下推会计产生的利息支出，
因应用资本重组或购进会计而对债务进行贴现而产生的任何费用，
“可归因于行使评估权和解决与评估权有关的任何债权或诉讼(无论是实际的、或有的或潜在的)以及与本协议允许的任何许可收购或类似投资有关的任何利息支出，就任何有担保或无担保贷款、债务融通、债权证、债券、商业票据融通或其他形式的债务(包括与之有关的任何担保或抵押品信托安排)向任何行政代理人、抵押品代理人和受托人支付的年度代理费，
“与任何托管收益有关的任何利息支出或其他费用或收费(为免生疑问，只要此类托管收益以托管形式持有)，以及与非融资租赁相关的任何租赁、租金或其他费用。
“为免生疑问，利息开支应于借款人及其受限制附属公司就有关利率保障的对冲协议所支付或收到的任何款项净额生效后厘定。综合债务净额
““指截至任何确定日期：(A)综合债务总额减号
“(B)借款人和受限制子公司截至不受限制的日期的现金和现金等价物总额；提供
“合并净收入
““指在任何试用期内，任何人士及其受限制附属公司在综合基础上根据公认会计准则厘定的净收入；提供
“，则不包括在该综合净收入内(以其他方式包括在内的范围内)，而不重复：
“表现出非限制性子公司，或按权益会计法核算；
“提供借款人或任何受限制附属公司在该人的净收入中的权益，应计入借款人在该测试期内的综合净收入中，但不得超过该人在该测试期内以现金或现金等价物(或在转换为现金或现金等价物的范围内)向借款人或受限制附属公司实际支付的股息、分派或其他支付的总额(如属股息，则以尚未计入的范围为限)。在以下(B)款所载限制的情况下，向受限制子公司作出的此类股权的分配或其他付款)；
提供
“该人的综合净收入应按该试用期内实际支付给该人或其受限制子公司的股息或分派或其他付款金额增加；该人或其任何受限制附属公司在测试期内出售或以其他方式处置任何人的任何股权(正常业务过程中的任何处置除外)的任何收益(或亏损)，连同任何该等收益(或任何该等亏损的税务影响)的任何相关税项拨备；
“完全由于货币价值的波动以及按照公认会计原则确定的该测试期的相关税收影响而产生的损益；在测试期内因资产的任何重估、重估或减记(或减记)而产生的收益(或损失)，包括任何减值费用；
“任何不寻常、不常见、非常或非经常性项目，不论是否根据公认会计准则归类，包括以下项目：(A)重组、遣散费、搬迁、合并、整合或其他类似项目，包括但不限于任何税收的雇主部分，(B)开办、关闭或过渡费用，(C)与战略举措有关的费用，设施关闭和启用费用，(D)签约、保留和完工奖金，(E)搬迁或招聘费用，(F)与任何战略或新举措有关的费用、开支和损失，(G)过渡，设施的合并和关闭成本，(H)业务优化费用(包括与业务优化计划有关的成本和费用)，(I)新系统设计和实施成本，(J)上市公司费用，(K)任何重组费用或准备金，无论是否根据公认会计准则归类，(L)与诉讼(包括威胁诉讼)、监管、政府或执法机构(包括任何司法部长)进行的任何调查或诉讼(或任何威胁调查或诉讼程序)有关的费用和费用，(M)在正常业务过程之外发生的与伤亡事件或资产出售有关的费用和(N)
(a)
表现出
(i)
与任何获准的首次公开募股/税务重组有关的费用，由该人或其任何受限制的子公司在试验期内记录或确认；在试验期内，会计原则的变化和因采用或修改会计政策而发生的变化的累积效果；
(ii)
在该试验期内处置已处置、放弃或停止的业务的税后收益(或亏损)；根据公认会计原则对该测试期内该人士的合并财务报表中的库存、财产和设备、软件、商誉、其他无形资产、正在进行的研究和开发、递延收入、债务以及不利或有利租赁项目进行调整的影响(包括该调整的影响)，该影响是由于对该测试期内在结算日之前完成的任何交易和任何允许的收购或其他投资或其任何税项净额的摊销或注销而引起的；
(iii)
测试期内的任何非现金补偿费用或支出，包括因授予股票增值或类似权利、股票期权、限制性股票或其他权利而产生的任何此类费用或支出，以及与该人或其任何受限制子公司的管理层与交易有关的股权展期、加速或支付相关的任何现金费用或支出；(I)测试期内发生的交易费用，及(Ii)测试期内发生的任何费用和支出，或测试期内发生的任何费用和支出，或测试期内与任何债务或股权的收购、投资、处置、发行或偿还、股权发行、再融资交易或任何债务或股权工具的修订或修改有关的任何费用和支出(在每种情况下，包括任何此类交易，无论是在成交日、之后或之前完成的，以及进行但未完成的任何此类交易)，以及因任何此类交易而在测试期内产生的任何费用或非经常性成本；
(iv)
本协议允许的任何投资、许可收购或任何出售、转让、转让或其他资产处置的赔偿或其他补偿条款所涵盖的测试期间的任何费用、收费或损失，但以实际已偿还的范围为限，或者只要借款人已确定存在合理的赔偿或补偿基础，且仅限于在确定后365天内事实上赔偿或偿还的金额(含扣减在适用的未来期间内，任何如此加回但在该365天内未获如此弥偿或偿还的款额)，连同实现该等款额的所有费用及开支；及
(v)
在保险承保且实际得到偿还的范围内，或只要借款人已确定有合理证据表明该金额实际上将在确定之日起365天内得到偿还(在适用的未来期间中扣除在该365天内未得到偿还的任何如此添加的金额)，则该测试期内与责任或意外事件或业务中断有关的费用、收费或损失以及实现该等费用和支出的所有成本和开支。尽管上文有任何规定，包括或不包括新冠肺炎大流行引起的刺激资金或方案，无论是以费用抵消或报销的形式表现出
对于“综合净收入”或“综合调整后EBITDA”的定义而言，确定直接或直接付款的方式应基本上与在计算与交易相关的营销材料中包括的融资EBITDA时处理此类刺激资金或计划的方式相同(为免生疑问，该金额等于347,000,000.00美元)。此外，各方承认并同意，对“综合净收入”或“综合调整后EBITDA”所作的任何调整，因收到与营销材料所述类型的“增量刺激投资”有关的付款，不得超过为此目的实际收到的刺激资金或赠款的实际数额。
合并担保净债务“指截至任何确定日期，以包括全部或部分抵押品在内的资产的留置权担保的综合净债务数额。
(vi)
合并总资产“指借款人和受限制子公司在符合公认会计原则的综合基础上的总资产，截至适用测试期的最后一天。
(vii)
合并总债务
(viii)
“指在任何厘定日期，借款人及尚未偿还的受限制附属公司在该日期的债务本金总额，以综合基础厘定，并反映在按照公认会计原则(但不包括采用购入会计制度的影响)编制的资产负债表上，包括借入款项的负债、已提取信用证的未偿还债务(以未作现金抵押及未在提取后3个营业日内偿还的部分)，以及由承付票或类似票据证明的债务；提供
(ix)
，综合总债务将不包括与(I)任何合格证券化融资或应收账款融资交易有关的债务，(Ii)为满足营运资金需要(由借款人善意决定)或其他营运资金安排而提取的循环贷款，(Iii)资本化租赁债务及(Iv)任何对冲协议下的债务。
(x)
合并营运资金
“指截至任何确定日期的合并流动资产的超额部分
完毕合并流动负债。合并财务报表例外指：(X)就第6.01(D)节而言，如借款人及其合并附属公司的综合总资产及经合并调整EBITDA与借款人及其受限附属公司的综合总资产及经合并调整EBITDA分别与借款人及其受限制附属公司的综合总资产及经合并调整EBITDA分别不超过2.5%及(Y)在所有其他情况下，如控股公司(或控股公司的任何母公司，包括报告实体)及其综合附属公司的综合总资产及经合并调整EBITDA与综合总资产及经合并调整EBITDA并无分别不同借款人及其子公司的比例超过2.5%。
(xi)
合同对价“具有第2.07(B)(I)(9)节规定的含义。
(xii)
合同义务“对任何人而言，指由该人发出的任何保证的任何规定，或该人是当事一方的任何协议、文书或其他承诺的任何规定，或该人或其任何财产受其约束的任何协议、文书或其他承诺的任何规定。
(xiii)
供款欠款“指借款人或任何受限制附属公司的债务，其未偿还本金总额在每次产生时厘定，不得超过现金及现金等价物累计金额的100%，以及作为借款人的合资格股权贡献予借款人的资产(指定股本贡献除外)的公平市价(I)自紧接结算日起至产生该等现金及现金等价物之日(包括该日)止期间(I)及(Ii)未以其他方式运用。
(xiv)
表现出控制
(xv)
具有“附属公司”的定义中所规定的含义。转换/延续通知
(xvi)
“是指关于(A)根据第二条将贷款从一种类型转换为另一种类型或(B)继续提供定期基准贷款的通知，如果是书面通知，基本上应采用附件A-4的形式。覆盖实体
(xvii)
“指下列任何一项：(I)该术语在12 C.F.R.§252.82(B)中定义并根据其解释的”承保实体“；(Ii)该术语在12 C.F.R.§47.3(B)中定义并根据其解释的”承保银行“；或(Iii)该术语在12 C.F.R.§382.2(B)中定义并根据其解释的”承保金融机构“。 被保险方
(xviii)
“具有第11.26节规定的含义。信贷协议为债务再融资
(xix)
“指借款人或任何受限制附属公司的同等留置权债务、次级留置权债务、其他担保债务或无担保债务；提供那发生或以其他方式获得(包括通过延长或续期现有债务)，以交换或全部或部分延长、续期、替换或再融资任何贷款项下的债务或承诺(如在本定义中使用的)。再融资债务
该债务的原始本金总额(或增值，如适用)不大于再融资债务的本金(或增值，如适用)，
加首字母
(xx)
2024年再融资定期贷款，(Ii)这种债务(循环贷款除外)的最终到期日不得早于(X)再融资债务的最终到期日和(Y)再融资债务的最后到期日
(xxi)
首字母2024年再融资
(xxii)
定期贷款和(3)构成循环融资的这种债务的最终到期日不得早于(X)再融资债务的最终到期日和(Y)循环承付款的最晚到期日； t任何此类债务的强制性提前还款，这是对等留置权债务，应在首字母
(b)
2024年再融资
(i)
定期贷款和(4)担保相关再融资债务的任何贷款方的资产)；以及
(ii)
治愈过期日期“具有第8.02节规定的含义。
(iii)
治愈的默认设置“具有第1.02(E)节规定的含义。
(iv)
每日简单RFR
指任何一天(或任何时间)RFR利息日“)，年利率相等于(A)前5个营业日的SONIA年利率，(A)如果该RFR利息日是营业日，则为该RFR利息日，或(B)如果该RFR利息日不是营业日，则为紧接该RFR利息日之前的营业日，以及(B)0%。由于适用的RFR的变化而导致的日常简单RFR的任何变化，应从RFR的这种变化的生效日期起生效，而不通知借款人。如果在紧接任何一天之后的第二个工作日的下午5：00之前，关于该日的RFR尚未在SONIA管理员的网站上发布，并且关于Daily Simple RFR的基准更换日期尚未出现，则该日的RFR将与在SONIA管理员的网站上发布RFR的前一个营业日的RFR相同；
提供
根据本句确定的RFR用于计算每日简单RFR的时间不得超过连续三(3)个RFR利息日。
“债务代表“就以对包括全部或部分抵押品的资产的留置权而担保的任何一系列债务而言，指根据借以发行、招致或以其他方式取得(视属何情况而定)该等债务的契据或协议下的受托人、行政代理人、抵押品代理人、证券代理人或相类代理人或唯一贷款人，以及他们各自以该等身分的继承人。
“表现出债务人救济法
““指美国破产法，以及所有其他清算、托管、破产、为债权人利益转让、暂停、重新安排、接管、破产、重组或类似的债务人救济美国或其他适用司法管辖区不时生效并普遍影响债权人权利的法律。默认
(i)
“指构成违约事件的任何事件或条件，或在发出任何通知后，时间的流逝，或两者兼而有之(在每种情况下，根据本条例的要求)，将构成违约事件。
(ii)
违约率
(iii)
“指等于(A)基本利率的利率
(iv)
加
(B)适用于属于循环贷款的基本利率贷款的利率
(v)
加
(vi)
每年
(vii)
提供
(viii)
就到期未支付的任何贷款的未偿还本金而言，违约利率应等于适用于该贷款的利率(包括任何适用的利率)(执行第2.05(C)节)
(ix)
加
(x)
每年
(xi)
在每种情况下，均在适用法律允许的最大范围内进行。
(xii)
默认权限
(xiii)
“具有C.F.R.第12编252.81、47.2或382.1节(视情况适用)中赋予该术语的含义，并应根据其解释。
(xiv)
违约贷款人
“除第2.20(B)款另有规定外，指任何贷款人，
“未能(I)在根据本协议要求为其贷款提供资金之日起2个工作日内为其全部或任何部分贷款(包括信用证或周转额度贷款的参与)提供资金，除非该贷款人以书面形式通知管理代理和借款人，这种失败是由于该贷款人确定未满足融资前的一个或多个条件(哪些前提条件连同适用的违约(如有)应在该书面文件中明确指出)，或(Ii)向管理代理、开证行、循环额度贷款人或任何其他贷款人必须在到期之日起2个工作日内支付本协议规定的任何其他金额(包括就其参与信用证或循环额度贷款而言)，已书面通知借款人、行政代理行或开证行或循环额度贷款人，不打算履行其在本协议项下的融资义务，或已就此发表公开声明(除非该书面或公开声明与该贷款人为本协议项下贷款提供资金的义务有关，并声明该立场是基于该贷款人确定不能满足融资的先决条件(该条件连同适用的违约(如有)应在该书面或公开声明中明确指出))，在行政代理或借款人提出书面请求后3个工作日内，未能向行政代理和借款人书面确认其将履行本协议项下的预期资金义务(提供“或”已处置
“指任何人对任何财产的出售、转让、许可、租赁或其他处置(不包括留置权，但包括根据特拉华州有限责任公司分部的任何回租交易，以及任何出售受限制子公司的股权或发行股权)，包括任何票据或应收账款或与之相关的任何权利和债权的任何出售、转让、转让或其他处置，不论是否有追索权。不符合条件的股权到期或可强制赎回(仅限合格股权除外)，根据偿债基金义务或其他方式(除非由于控制权变更或资产出售，只要其持有人在发生变更时有任何权利)
(a)
表现出
控制权或资产出售事件以终止条件的发生为准)，
是否可转换为或可交换构成不合格股权的债务或任何其他股权，
(b)
提供
(c)
被取消资格的贷款人
(d)
“意思是，
(e)
(f)
任何主要从事私募股权、夹层融资或风险投资的负责人，以及在本条款(B)中的每一种情况下，由借款人或其代表在2023年4月21日或之前以书面向牵头安排人指明的银行、金融机构、其他机构贷款人和其他人，以及
(g)
任何属(或成为)上述(A)及(B)条所述实体的联营公司的人(就(A)或(B)条而言，任何
善意的
其债务基金关联公司(除非(I)在(A)或(B)或(Ii)款(B)项中单独指明的范围内，适用于与(B)条所述债务基金相关联的真正债务基金)；
(h)
提供
(i)
就第(C)款而言，借款人或代表借款人以书面形式向总协调人或行政代理人证明此人是联营公司，或仅凭其名称即可明确识别此人为联营公司，
(j)
提供
(k)
根据上述(A)和(C)条款在截止日期后的任何补充，(I)该补充将在向行政代理提供该指定后的1个营业日才生效(不言而喻，该补充将不适用于目前是未决交易的任何一方的任何实体)和(Ii)该补充将不追溯地适用于取消任何人在紧接该补充交付之前所持有的任何贷款的资格，并且为免生疑问，该人应被视为在该补充交付之后其所获得的任何贷款的丧失资格的贷款人。
(l)
在任何贷款人向行政代理询问特定潜在受让人或潜在参与者是否在不合格贷款人名单上时，行政代理应被允许向该贷款人披露该特定潜在受让人或潜在参与者是否在不合格贷款人名单上。
(m)
表现出 美元
(n)
“和”
美元
“指的是美国的合法货币。
美元金额
““任何时候都意味着：(A)就任何以美元计价的贷款而言，当时未偿还的本金(或持有该参与的贷款的本金)；
“(B)就以任何替代货币计价的任何贷款而言，当时以有关替代货币计算的未偿还本金，并按汇率(就最近的重估日期或其他有关厘定日期而厘定)折算为美元的本金；及
“国内子公司“指根据美国、其任何州或哥伦比亚特区的法律成立的任何子公司。提前选择加入选举“指发生下列情况： (A)行政代理通知(或借款人请求行政代理通知)本合同的每一方当事人此时正在执行以美元计价的银团信贷安排，或正在执行或修订以适用的方式纳入或采用新的基准利率以取代相关基准的银团信贷安排，以及
“(B)行政代理和借款人共同选择宣布提前举行选择加入选举，并在适用的情况下，由行政代理向贷款人提供关于这种选择的书面通知。欧洲经济区金融机构“指（a）在任何欧洲经济区成员国设立的、受欧洲经济区决议机构监督的任何信贷机构或投资公司，（b）在欧洲经济区成员国设立的、是本定义第（a）条所述机构母公司的任何实体，或（c）在欧洲经济区成员国设立的任何金融机构，该机构是（a）或（b）条所述机构的子公司符合这一定义，并受到其母公司的统一监督。欧洲经济区成员国
““指欧盟的任何成员国、冰岛、列支敦士登和挪威。EEA决议授权机构
““指任何欧洲经济区成员国的任何公共行政当局或受托负责任何欧洲经济区金融机构决议的任何人(包括任何受权人)。符合条件的受让人
““指符合第11.07(B)(Iii)节(包括在收到该节可能要求的任何同意之后)和(V)项下的受让人要求的任何人；提供
“任何违约贷款人或任何丧失资格的贷款人都不是合格的受让人。动车组
“指欧盟条约所设想的经济和货币联盟。
“表现出环境索赔
““指与任何环境责任或根据环境法有关的任何和所有行政、监管或司法行动、诉讼、要求、请求书、索赔、留置权、不遵守或违反通知、任何政府当局的调查或诉讼，包括(A)任何政府当局根据任何环境法执行、清理、清除、回应、补救或其他行动或损害赔偿，以及(B)任何人根据任何环境法寻求损害赔偿、分担、赔偿、成本回收、赔偿或强制令救济。环境法
““指与环境保护有关的任何和所有法律，或在与接触危险材料有关的范围内，指与人类健康有关的任何和所有法律。环境责任
“错误支付对班级的影响“具有第10.18(D)节规定的含义。
“错误的付款退货不足“具有第10.18(D)节规定的含义。被托管收益“指在适用的要约或债务发生之日，根据允许在满足某些条件或发生某些事件时解除存入此类托管账户的保证金的安排，将任何债务证券或其他债务在适用的要约或发生之日存入独立托管账户的收益。“代管收益”一词应包括代管金额所赚取的任何利息。
(a)
欧盟自救立法时间表"是指贷款市场协会（或任何继承人）发布的不时有效的欧盟纾困立法表。”);
(b)
欧盟条约“是指《欧盟条约》。EURIBO汇率
(c)
提供每年，EURIBO利率将被视为0.00%每年EURIBO屏幕价格
(d)
指由欧洲货币市场协会(或接管该利率管理的任何其他人)在相关期间(在管理人进行任何更正、重新计算或重新发布之前)在汤森路透屏幕的EURIBOR01页(或显示该利率的任何替代汤森路透页面)上显示的欧元银行间同业拆借利率，或在该等其他信息服务的适当页面上不时发布该利率以取代汤森路透，如在上午11：00左右发布。如果这样的页面或服务不再可用，管理代理可以在与借款人协商后指定另一个页面或服务来显示相关费率。
(i)
欧元EUR“和”“指根据欧洲货币联盟采用的参与成员国的合法货币。违约事件“具有第9.01节规定的含义。超额现金流
(ii)
表现出以下各项的总和(不包括重复项)：
借款人和受限制子公司在该期间的综合净收入，
(e)
加
(f)
相当于该期间的所有非现金费用(包括折旧和摊销)的数额，但不包括代表任何未来期间潜在现金项目的应计或准备金的任何此类非现金费用，也不包括在前一期间支付的预付现金项目的摊销。
(i)
加该期间综合营运资金的减少(不包括因借款人和在该期间完成的受限附属公司的收购或处置、采购会计的应用或项目从短期重新分类为长期或反之亦然而产生的任何此类减少)。加加加在该期间内与套期保值协议有关的现金收入，但不得计入该综合净收入内；完毕以下各项的总和(不包括重复项)：
(ii)
相当于达到上述综合净收入(但不包括上文(A)(2)款所述应计或准备金冲销的任何非现金贷项)和根据“综合净收入”定义(A)至(L)款而不包括的现金费用的数额，
“加相当于借款人和受限制附属公司在该期间的处置(正常业务过程中的处置除外)的净非现金收益合计的数额，其幅度包括在获得该综合净收入时，
“加实际以现金支付的支出总额，在计算综合净收入时将这些支出加回，
“加该期间综合营运资金的增加(借款人和在该期间完成的受限附属公司的收购或处置、采购会计的应用或将项目从短期重新分类为长期或相反的项目而产生的任何此类增加除外)；加表现出在该期间与对冲协议有关的现金支出，但不得在计算综合净收入时扣除。《交易所法案》
““指经修订的1934年证券交易法。汇率，汇率
“指在任何一种货币的任何日期，这种货币可以兑换成任何其他货币的汇率，如在该日期在华尔街日报的”收盘“汇率页面上所述。如果该汇率没有出现在《华尔街日报》的任何页面上，汇率的确定应参考行政代理可能选择的用于显示汇率的其他公共可用服务，或者，如果没有选择该服务，则该汇率应改为行政代理在市场上的现货汇率的算术平均值，该市场当时正在进行与该货币有关的外币兑换操作，时间为当地时间上午10点或大约10：00，用于购买相关货币，以便在2个工作日后交付；
“提供如果在任何此类确定时，由于任何原因没有引用该即期汇率，则行政代理在与借款人协商后，可使用其认为适当的任何合理方法来确定该汇率，该确定应推定为正确的，没有明显错误。
“排除资产“意思是：
“提供(C)在任何租赁、许可、特许经营、特许经营、租船、授权、合同或协议的条款、条款或条件被禁止或违反的情况下，除非上述(A)、(B)和(C)条款中的每一项都会根据UCC或其他适用法律或公平原则使禁止或限制无效(在每一种情况下，在实施UCC或其他适用法律的适用的反转让规定之后)；提供除外资产不应包括任何此类资产、租赁、许可、特许经营权、包机、授权、合同或协议的任何收益(除非此类收益构成除外资产)； (c) 2.00% 排除股权；; (A)不动产的任何租赁权益(包括任何地面租赁权益)；。(B)非实质性不动产或位于美国境外的任何不动产的任何收费权益；。(C)以其他方式构成重大不动产的任何收费权益(不论是否已经抵押，或要求或打算)。表现出 2.00% 在确定的任何时间根据本协议条款抵押)位于特殊洪水危险地区或将根据洪水保险法要求投保洪水保险(双方同意：(I)如果随后确定任何受抵押或以其他方式要求或打算受抵押约束的改善的不动产位于特殊洪水危险区域，或将根据洪水保险法要求投保洪水保险，该财产应被视为除外资产，除非和直到借款人(真诚行事)已确定该财产不是位于特殊洪水危险地区，并且不需要根据洪水保险法投保洪水保险，以及(Ii)如果该财产已经受抵押，则位于特殊洪水危险地区或根据洪水保险法需要洪水保险的该改良财产应免除抵押(但如果该抵押承保的改良不动产只有一部分位于特殊洪水危险地区，或将根据洪水保险法要求洪水保险，则：只要该等财产的其余部分本身将构成本合同项下的重大不动产，则只有位于特殊洪水危险区域或根据洪水保险法需要洪水保险的部分才应如此解除)和(D)任何不动产上的任何固定附着物，只要(1)此类不动产不构成抵押品和(2)此类固定附着物的担保权益不能通过在适用贷款方组织的管辖范围内提交UCC融资报表而得到完善；(A)作为提取的抵押品，(B)待砍伐的木材，(C)农产品，(D)制造的房屋和(E)医疗保险应收款；
“任何资产，如果其质押或其中的担保权益将对控股公司(或控股公司的任何母公司，如果该重大不利税收后果与其对控股公司或借款人及其受限制附属公司的股权的所有权有关)、借款人或任何受限制附属公司在与管理代理磋商后真诚地合理确定，将对控股公司(或控股公司的任何母公司)造成重大不利税收后果，行政代理和借款人合理地同意质押、完善或维持质押的费用或其他后果(包括不利的税收后果)的任何资产，考虑到贷款人将从该资产获得的利益，该资产的成本或其他后果(包括不利的税收后果)应过高；
“信用证权利，只要信用证上的担保权益不能通过提交UCC融资报表来完善；
(a)
任何在司法程序中没有提出索赔或在司法程序中提出索赔的价值低于25，000，000美元的商业侵权索赔;
(b)
专门用于向借款人或任何受限制子公司员工或为其利益支付信托、工资、工资税、预扣税以及员工工资和福利的任何存款账户或证券账户;以及
(c)
表现出任何须接受证券化融资的资产。 借款人、Holdings、瑞士信贷股份公司（作为其项下的行政代理人和抵押代理人）及其贷方。
(d)
现有的第一留置权票据“指根据日期为2020年7月6日的第一份扣押票据购买协议（在本协议生效前不时修订、重述、修改或补充）发行的票据，由以下人士和其中 中间别名
、控股、借款人作为发行人、买方一方以及威尔明顿信托、全国协会作为行政代理人和抵押代理人。
现有信用证
“具有第2.04（j）节中规定的含义。
“现有的第二留置权信贷协议“是指日期为2017年8月22日的第二份扣押信贷协议（在本协议生效前不时修订、重述、修改或补充），其中
“中间别名 借款人、控股公司、KEUHG、瑞士信贷股份公司（作为其项下的行政代理人和抵押代理人）及其贷方。
“延长承诺“统称为延长的循环承付款和延长的定期承付款。
“延期贷款“统称为延长循环贷款和延长期限贷款。延长的循环承付款”).
““是指延伸分包商持有的循环承诺。展期循环贷款
““指根据延长循环承诺发放的循环贷款。”, “延长循环到期日“意味着任何一天的利率 每年等于联邦储备银行在该日的下一个营业日公布的在该日与联邦储备系统成员进行隔夜联邦基金交易的加权平均利率；
“提供(A)如果该日不是营业日，则该日的联邦基金利率应为在下一个营业日的下一个营业日公布的该等交易的利率，以及(B)如果在该下一个营业日没有公布该利率，则该日的联邦基金利率应为行政代理人在该日就该等交易收取的平均利率(如有必要，向上舍入至1/100的1%的整数倍)。如果联邦基金利率小于零，则应视为零。
(a)
财务契约
“指第8.01节规定的财务契约。
财务契约确定日期
(b)
“具有第8.01条规定的含义。
(c)
财务契约违约事件
(d)
“具有第9.01(B)(Ii)节规定的含义。
第一留置权净杠杆率“指于任何决定日期，(A)构成同等留置权债务的综合担保净债务及截至该日期的未偿还债务与(B)适用测试期的综合调整后EBITDA的比率。固定增量
““指在计量之日，以下各项的总和：(I)截止日期EBITDA和(Ii)TTM合并调整后EBITDA中较大者的75%，按形式计算，
(a)
加
(b)
[保留];
(c)
加(I)定期贷款或循环贷款(如伴随循环承诺的相应减少)、其他同等连带债务、其他次级留置权债务或其他担保债务在截止日期后(不论是否向所有贷款人提出)项下的自愿预付款、赎回和回购的本金总额(包括根据“yank-a-bank”条款支付的金额和转换为控股公司的合格股权权益的金额，以及任何低于面值的回购，包括由此减少的债务的全部本金)，以及(Ii)项下承诺的其他永久性减少，在每种情况下，因依赖固定增量数额而产生的任何债务(或先前因依赖固定增量数额而产生的再融资债务)，但以融资债务收益(循环贷款除外)提供资金的范围除外；提供自愿提前还款、赎回和回购，表现出
在适用的情况下，次级留置权债务和其他担保债务仅应增加本条(C)项下的能力，以便进一步产生次级留置权债务或其他担保债务(视情况而定)；加
如债务有助于有效延长定期贷款、循环贷款或任何其他同等留置权债务、其他次级留置权债务或其他担保债务的到期日，数额等于定期贷款、循环贷款、此类同等留置权债务、此类次级留置权债务或此类其他担保债务(视情况而定)；
减号
“(I)因依赖固定增量金额而产生的任何增量融资或增量等值债务以及(Ii)根据本协议第7.03(G)节因依赖固定增量金额而发生的任何债务的本金总额。”, “$洪水保险证书《洪水保险法》
““统称为(A)现在或以后有效的1968年《国家洪水保险法》或其任何后续法规，(B)现在或以后有效的1973年《洪水灾害保护法》或其任何后续法规，(C)现在或以后有效的1994年《国家洪水保险改革法》或其任何后续法规，(D)现在或以后有效的2004年《洪水保险改革法》或其任何后续法规，以及(E)现在或以后有效的2012年《比格特-沃特斯洪水保险改革法》或其任何后续法规。地板
“指相当于(A)定期贷款0.50%的利率
每年
及(B)就任何循环贷款而言，为0%
“每年外国伤亡事件
““具有第2.07(B)(Vii)(A)节规定的含义。对外处置
“具有第2.07(B)(Vii)(A)节规定的含义。
外国贷款人
““具有第3.01(B)节规定的含义。外国子公司
““指非国内附属公司的任何直接或间接受限制附属公司。FRB
““指美国联邦储备系统理事会。正面曝光
““是指在任何时候发生违约的贷款人，(A)就开证行而言，该违约贷款人在未偿还信用证债务中的比例份额，但该违约贷款人的参与义务已被重新分配给其他贷款人或根据本合同条款抵押的现金除外，以及(B)就回旋贷款机构而言，该违约贷款人按比例分摊与该摆动额度贷款人发放的摆动额度贷款有关的未偿还债务，但该违约贷款人的参与债务已被重新分配给其他贷款人或根据本合同条款抵押的现金除外。FSHCO表现出
“基金
“指在正常过程中从事商业贷款和类似信贷延伸的任何人(自然人除外)。
“融资债务
“公认会计原则“指在美国不时生效的公认会计原则；
“提供担保
“危险材料
“对冲协议
““指与(A)任何及所有利率掉期交易、基差掉期、信用衍生交易、远期汇率交易、商品掉期、商品期权、远期商品合约、股票或股票指数掉期或期权、债券或债券价格或债券指数掉期或期权、远期债券或远期债券价格或远期债券指数交易、利率期权、远期外汇交易、上限交易、下限交易、挂钩交易、货币掉期交易、交叉货币汇率掉期交易、货币期权、现货合约或任何其他类似交易或上述任何交易的任何组合(包括订立任何前述的任何期权)有关的任何协议，不论任何此类交易是否受任何主协议的约束或约束，以及(B)任何类型的任何交易以及相关的确认书，受国际掉期和衍生工具协会发布的任何形式的主协议、任何国际外汇主协议或任何其他主协议(任何此等主协议连同任何相关的附表，a)的条款和条件的约束或约束主协议
““)，包括任何主协议项下的任何此类义务或责任。对冲银行
““指(A)在成交之日或在签订任何有担保对冲协议时，作为上述任何人的代理人、贷款人、开证行或回旋额度贷款人或其关联方的任何人，或(B)借款人不时以书面向行政代理指定的任何其他人，包括就成交之日存在的任何此类有担保对冲协议而言；提供
“持有量
新控股
“ 表现出初始控股(或以前的新控股，视属何情况而定)(“
“以前的控股“)而该人在该项合并或合并中幸存；
“提供非贷款方产生或担保的增量等值债务的本金总额，连同(X)作为其他担保债务的任何增量定期融资和增量循环融资的本金总额，以及(Y)发生的任何许可比率债务的本金总额
“表现出第7.03(J)条规定的债务和任何其他债务，在第(Y)款的情况下，由非贷款方产生或担保的，不得超过非贷款方债务上限；
“强制提前偿还任何增量等值债务，即同等连带债务可在按比例
“ 基础或低于 按比例
“与第2.07(B)节规定的任何相应的强制性预付款(但不超过按比例)；如果该等递增等值债务是等额留置权债务或次级留置权债务，则代表该等增额等值债务持有人行事的债务管理人可以(并且已经)作为“附加第一留置权代表”(或类似称谓)的同等优先权债权人间协议和作为“高级优先权代表”(或类似称谓)而存在的任何次级留置权债权人间协议，或(Ii)如果此类递增等值债务是次级留置权债务，则作为“第二优先权代表”(或类似称谓)的初级留置权债权人间协议的规定；以及
“如果这种增量等值债务是定期贷款的形式，则第2.16(H)节的规定(包括其中规定的所有条件和免责条款)应适用，如同此类增量等值债务是增量定期贷款一样。增量设施“具有第2.16(A)节规定的含义。增量贷款“具有第2.16(A)节规定的含义。增量式循环设施.
“增量循环设施收件箱“具有第2.16(I)节规定的含义。
“增量循环贷款”, ““具有第11.05节规定的含义。独立财务顾问€“指具有国家认可地位的会计、评估、投资银行或咨询公司，即借款人出于善意判断，有资格履行其所从事的任务，并且独立于借款人及其关联公司。
“信息“具有第11.08节规定的含义。
“初始默认设置“具有第1.02(E)节规定的含义。
初始持股量
“具有本协定导言段中规定的含义。
(a)
表现出
(i)
首发银行“是指截止日期作为初始开证行的每一家循环贷款人，以及其允许的继承人和受让人。各初始开证行信用证百分比的金额列于附表2.01“信用证百分比”项下。Jefferies Finance LLC将促使非关联金融机构签发信用证，根据贷款文件的所有目的，此类信用证应视为由Jefferies Finance LLC签发。
(ii)
初始定期贷款“指(A)在第2号修正案生效日期前，根据第2.01(A)(I)及2.01(A)(Ii)条向借款人提供的任何定期贷款，及(B)在第2号修正案生效日期或之后，根据第2.01(A)(Iii)条向借款人提供的任何定期贷款。
(iii)
初始定期贷款承诺“对每一贷款人而言，指(I)在第2号修正案生效日期前，其在(X)截止日期向借款人提供初步定期贷款的义务，表示为该贷款人根据本协议作出的初步定期贷款的最高本金金额，及(Y)第1号修正案生效日期，表示为该贷款人根据第1号修正案作出的第1号修正案定期贷款的最高本金金额，及(Ii)在第2号修正案生效日期及之后，其在第2号修正案生效日期向借款人发放初始定期贷款的义务，表示为该贷款人根据第2号修正案将发放的第2号修正案定期贷款的最高本金金额，在每种情况下，每项此类承诺均可(A)根据第2.08节不时减少，以及(B)根据根据一项或多项转让和假设由该贷款人或向该贷款人转让而不时减少或增加。每家贷款人的初始定期贷款承诺额(X)等于该贷款人在转让和假设中列出的该贷款人的第2号修正案定期贷款承诺(如第2号修正案所界定)或(Y)，该贷款人应根据该转让和假设承担其初始定期贷款承诺(视具体情况而定)。
(iv)
知识产权“具有《安全协议》中规定的含义。
(v)
知识产权安全协议“具有《安全协议》中规定的含义。
(vi)
(D)关于第3号修正案、第3号修正案联合牵头安排人和簿记管理人，及(E)关于于第4号修正案生效日期提供资金的2024年再融资定期贷款，第4号修正案联合牵头安排人及账簿管理人
(b)
合资企业
(i)
指(A)任何会构成借款人或任何受限制附属公司的“权益法受投资人”的人士，及(B)借款人或任何受限制附属公司实益拥有并非受限制附属公司(非受限制附属公司除外)的任何股权的任何人士。联合投资
(ii)
判断货币
(iii)
初级融资
(iv)
“指综合总债务中所包括的任何债务，其偿还权在合同上从属于其条款明示的债务(借款人与其受限制附属公司之间或之间的债务除外)，其未偿还本金总额等于或大于门槛金额，且剩余期限大于一年。初级融资文档
“指管辖任何初级融资的任何文件。
(v)
表现出
“初级留置权债务“指由资产留置权担保的综合债务总额中的任何债务，包括所有或部分抵押品，其优先权低于抵押品留置权，以担保构成同等留置权债务或任何其他同等留置权债务的债务。
“次级留置权债权人间协议最迟到期日“指在任何确定日期适用于本协议项下的任何贷款或承诺的最新到期日或到期日，包括任何增量贷款、任何再融资定期贷款、任何再融资循环贷款、任何延长的定期贷款或任何延长的循环承诺的最新到期日或到期日，在每种情况下均根据本协议不时延长。
“法律
(a)
LCT选举“具有第1.08(F)节规定的含义。LCT测试日期首席排班员
(b)
“指(A)就于截止日期提供资金的初始定期贷款而言，巴克莱银行、麦格理资本(美国)有限公司、高盛美国银行、德意志银行证券公司、瑞银证券有限责任公司、美国银行证券有限公司、Jefferies Finance LLC、KKR Capital Markets LLC及Citizens Bank，N.A.共同作为联席牵头安排人；(B)就于第1号修订生效日期、第1号修订联合牵头安排人及簿记管理人提供的初步定期贷款而言，(C)就于第2号修订生效日期提供的初始定期贷款而言，修正案第2号首席安排人和簿记管理人，
(c)
和
(d)
(D)关于第3号修正案、第3号修正案联合牵头安排人和簿记管理人
，及(E)关于于第4号修正案生效日期提供资金的2024年再融资定期贷款，第4号修正案联合牵头安排人及账簿管理人
出借人
(e)
(f)
，修订第4号贷款人
(g)
(为免生疑问，包括每个循环出借人和每个定期出借人)，以及它们各自的继承人和受让人，这些人和受让人在本文中被称为“出借人”。尽管有上述规定，任何不合格的贷款人均无权享有贷款人享有的任何权利或特权(包括担保和担保、赔偿、责任限制、投票、信息获取和贷款人会议)。
(h)
出借处
(i)
“就任何贷款人而言，指在该贷款人的行政调查问卷中描述的该贷款人的一个或多个办事处，或贷款人可能不时通知借款人和行政代理人的其他一个或多个办事处。
(j)
表现出
(k)
信用证
“指根据本协议由任何开证行签发或将开立的信用证，该信用证应为(A)备用信用证或(B)仅在适用开证行以其唯一和绝对酌情决定权同意的范围内为商业信用证或”贸易“信用证。
(l)
预付款信用证
“进一步为免生疑问，根据第2.08(B)(Ii)款的规定，信用证的升华金额在任何时候都不得超过循环承诺额的总和。
(a)
信用证用途
(b)
“是指，在任何确定日期，(A)当时所有未清偿信用证项下可提取的或此后任何时间可供提取的最高美元总额，以及(B)当时所有未清偿债务的美元总额。
(c)
留置权
(d)
“指任何种类或性质的任何按揭、质押、许可证、抵押、抵押品转让、存款安排、产权负担、留置权(法定或其他)、押记、或优先权、优先权或其他担保权益或优惠安排(包括任何有条件出售或其他所有权保留协议、任何地役权、通行权或对不动产所有权的其他产权负担，以及任何具有与上述任何一项实质相同的经济效果的资本化租赁)；
(e)
提供
(f)
那是在
(g)
表现出
(h)
根据2015年12月31日生效的GAAP，任何经营租赁本身都不应被视为留置权。
“有限条件交易“指(A)任何根据本协议准许的投资或其他类似交易，(B)任何赎回、回购、作废、清偿及清偿或偿还需要在赎回、回购、作废、清偿及清偿或偿还债务之前(可能是有条件的)任何债务，(C)任何须事先发出不可撤销通知的限制性付款，及(D)任何与前述有关的交易及事件(包括准许投资、产生或发行债务及其收益的使用、留置权的产生、赎回、回购、清偿、清偿或偿还债务及受限付款)。
(a)
贷款
(b)
“指向借款人发放的定期贷款、贷款人根据第二条(包括第2.16款)向借款人发放的循环贷款以及向借款人发放的周转额度贷款。
贷款文件
“指(A)本协议、(B)附注、(C)任何再融资修正案、递增修正案或延期修正案、(D)担保、(E)抵押品文件、(F)公司间附属协议、(G)代理费函件、(H)第1号修正案、(I)第2号修正案、(J)第3号修正案，
(c)
和
(d)
(e)
借款人和行政代理共同指定为“贷款文件”的、与上述任何一项有关或根据上述任何一项签署的任何其他文件。贷款方“指在任何确定日期，借款人的每一家受限制附属公司(A)在适用测试期的最后一天的总资产(与该附属公司的受限制附属公司在该测试期最后一天的总资产合计)等于或大于借款人及受限制附属公司截至该测试期最后一天的综合总资产的7.5%，在根据GAAP确定的每一种情况下，或(B)在该测试期内的收入(当与该子公司在该测试期内的受限制子公司的收入合计时)等于或大于借款人和受限制子公司在该测试期内的综合收入的7.5%，在每种情况下均根据GAAP确定；提供如在截止日期后90天(或行政代理人以其合理酌情决定权同意的较长期间)后的任何时间及不时，仅因未达到第(A)或(B)款规定的门槛而不是担保人的子公司，合计占借款人和受限制子公司在适用测试期结束时的综合总资产的10.0%以上(当与这些子公司的受限制子公司在适用测试期最后一天的总资产一起计算时)，或超过借款人和受限制子公司在该测试期内的综合收入的10.0%(当与这些子公司的受限制子公司在该测试期内的收入一起计算时)，则借款人应：(I)不迟于根据本协议规定必须在该测试期内提交财务报表之日起90天(或行政代理根据其合理酌情权同意的较长期限)，以书面形式向行政代理指定一家或多家此类子公司为“重要子公司”，以使上述条件不再成立；及(Ii)在第6.11节规定的适用期限内，遵守与任何此类子公司有关的条款。双方同意，任何证券化附属公司不应是重大附属公司，就本定义而言，该附属公司不应计入借款人及其受限制附属公司的综合总资产或总收入。
(f)
到期日
(g)
“意思是：
(h)
相对于
(i)
首字母
(j)
2024年再融资
(k)
未根据第2.18条延长的定期贷款，即截止日期后7年的日期(该日期，
(l)
原始定期贷款到期日
关于未根据第2.18节延期的循环非延期部分贷款，为截止日期后5年的日期(该日期为原始循环到期日
“关于循环延期部分贷款，以(X)延长的循环到期日和(Y)如果全部或部分首字母
“2024年再融资定期贷款在春季到期日、春季到期日和
对于任何其他类别的贷款，指适用于本协议的增量修正案、再融资修正案、延期修正案或其他修正案中规定的日期；
“表现出提供在每种情况下，如果该日不是营业日，则适用的到期日应为紧接该日之前的营业日。最大速率
““具有第11.10节规定的含义。最高投标条件“具有第2.19(B)节规定的含义。最低抵押品金额
“最低投标条件
““具有第2.19(B)节规定的含义。穆迪”指穆迪投资者服务公司。及其任何继任者。按揭政策
““和/或”按揭政策
“抵押物业
“抵押贷款
““统称为指贷款当事人以抵押代理人的名义或为抵押代理人的利益而作出的信托契据、信托契据、抵押和抵押，其形式和实质令抵押代理人合理满意，以及根据第6.11或6.16节签立和交付的任何其他抵押。多雇主计划
““是指ERISA第4001(A)(3)节所界定并受ERISA第四章约束的任何多雇主计划，任何贷款方或其各自的ERISA关联公司已作出或有义务作出贡献的，或在前五个计划年度内已作出或有义务作出贡献的，只要对贷款方的任何责任仍然存在。现金净收益
““指以下各项：借款人或任何受限制附属公司对任何资产的处置，或任何意外事故，超出的部分，如有：
“与该等处置或意外事故有关而收到的现金及现金等价物的总和(包括根据应收票据或其他方式以递延付款方式收到的任何现金及现金等价物，但仅在收到时，以及就任何意外事故而实际收到或支付给借款人或任何受限制附属公司或为借款人或任何受限制附属公司的账户支付的任何保险收益或谴责赔偿金)；完毕
“总和，表现出
“任何债务的本金、保费或罚金(如有的话)、利息、损毁费用及其他数额，而该等债务是由受该等处置或意外事故影响的资产所担保，并须因该等处置或意外事件而偿还的(由平价通行证
“担保构成同等连带债务的债务的留置权或从属于留置权)，借款人或该受限制附属公司因该等处置或伤亡事件及意外事故后的复原费用而实际招致的自付费用及开支(包括律师费、会计费、投资银行费、勘测费、业权保险费及相关的查册及记录费用、转让税、契据或按揭记录税、其他惯例开支及经纪、顾问及其他惯例费用)，
“(I)根据第7.06(G)(I)条或第7.06(G)(Iii)条作出的税收和(Ii)分配，在每一种情况下，已支付或合理估计应为此支付的税款(包括对分配或汇回任何此类现金收益净额征收的税款)，
“按比例可归因于少数股东权益的现金收益净额的一部分(在不考虑本条款(D)的情况下计算)，并且因此而不能分配给借款人或全资拥有的受限制附属公司或为其账户分配；
关于(1)按照公认会计原则确定的一项或多项资产的销售价格，以及(2)借款人或任何受限制附属公司在出售或以其他方式处置资产后保留的与一项或多项资产有关的任何负债，包括退休金和其他离职后福利负债以及与环境事项有关的负债或与该项交易有关的任何赔偿义务的调整准备金，但有一项理解是，“现金收益净额”应包括本条(E)所述的任何准备金的任何冲销(不偿还相应数额的任何适用的现金负债)的金额，以及
与解除与此类交易有关的任何相关对冲协议相关的任何成本；以及
“借款人或任何受限制附属公司出售、产生或发行任何债务，超出的部分，如有：收到的现金和现金等价物的总和，与这种发生或发行有关
“完毕因此而支付或合理估计应支付的税款、借款人或该受限制附属公司因该等出售、产生或发行而招致的费用(包括投资银行费、律师费、会计费、承销费及折扣)、佣金、成本及其他自付费用及其他习惯开支；表现出借款人发行任何符合条件的股权，发行该等符合条件的股权所产生的现金及现金等价物均构成借款人的资本。净收入“就任何人而言，指该人的净收益(亏损)，按照公认会计原则(为免生疑问，以非综合方式厘定)厘定，并在任何优先股股息扣减前厘定。
“净多头表示法“具有第11.01(I)(I)节规定的含义。
“净空头“就任何贷款人而言，指在适用的厘定日期，(A)其短期衍生工具的价值超过(X)借款人所发行的借款或借款人的其他合约债务的贷款及其他债务的价值之和，其直接或间接母实体及其附属公司(贷款及任何其他交易债务的价值须为信誉良好的定价来源在上一交易日所报的交易价，而任何其他借款债务的价值不得超过任何具有可比较或较短期限及可比较或较佳信用支持的交易债务的交易价格)(使该贷款人持有或出售的该等贷款或债务的任何参与或其他类似的权益转让生效，但参与或转让并不构成衍生工具)
“加(Y)其长期衍生工具于该厘定日期的价值或(B)合理地预期在紧接该厘定日期之前就借款人或任何担保人而发生的“未能偿付”或“破产信贷事件”(两者均见2014年ISDA信用衍生工具定义)或任何类似或同等定义的情况下会出现这种情况。
“净空头代表权
“新控股“具有”控股“的定义所指明的涵义。
(a)
非银行证书“具有第3.01(B)节规定的含义。
(b)
未经同意的贷款人“具有第3.07节倒数第二段规定的含义。
(c)
非违约贷款人“在任何时候，指的是当时不属于违约应收账款的每个应收账款。非融资租赁
为免生疑问，与不动产有关的直线或经营性租赁或租赁应被视为非融资租赁。
非贷款方“指借款人的任何受限制子公司，但不是贷款方。
(d)
非贷款方债务上限“指(I)截止日期EBITDA和(Ii)TTM综合调整后EBITDA中较大者的50%，按适用确定日期的形式计算。
(e)
不延期通知日期
““具有第2.04(B)(Iii)节规定的含义。表现出
“未以其他方式应用
“注意“指每笔定期贷款票据、循环贷款票据及周转额度票据。意向治疗通知书“具有第8.02节规定的含义。义务.
“提供
“这些债务应排除任何被排除在外的互换债务。在不限制前述一般性的情况下，贷款当事人在贷款文件下的义务(以及他们在贷款文件下负有义务的任何子公司)包括支付任何贷款方应支付的本金、利息、偿还义务、费用、律师费、赔偿金和其他金额的义务(包括担保义务)，以及在任何贷款文件下提供现金抵押品的义务。其他税种
““具有第3.01（f）节中规定的含义。隔夜利率
““指任何一天，（a）对于任何以美元计价的金额，（i）联邦基金利率和（ii）行政代理根据银行业银行间报酬规则确定的隔夜利率中较高者;（b）对于任何以替代货币计价的金额，利率 每年
“ 由行政代理合理确定为其资助该金额的成本。同等财产留置权债务
““指包括在综合总债务中的、以资产留置权为担保的任何债务，包括以下全部或部分抵押品平价通行证
“ 优先考虑抵押品上的优先权确保 首字母
2024年再融资
定期贷款和循环贷款。
“参与者“具有第11.07（d）条规定的含义。
“参与者注册“具有第11.07（e）条规定的含义。
“付款通知“具有第10.18（b）节中规定的含义。付款收件人, “具有第10.18(A)节规定的含义。PBGC
““指养老金福利担保公司。养老金计划
““指受ERISA第四章或守则第412和430节或ERISA第302节约束，或由任何贷款方或其各自的ERISA关联公司发起或维持的，或任何贷款方或其各自的ERISA关联公司出资或有义务缴费的任何”雇员养老金福利计划“(ERISA第3(2)节中定义的术语)，或在ERISA第4064(A)节所述的多重雇主或其他计划的情况下，在前五年的任何时间已经或有义务做出贡献的任何”雇员养老金福利计划“。完美证书
““指担保协议附件二形式的证书或抵押品代理人合理批准的任何其他形式的证书，并应不时予以补充。绩效推荐人
““具有”衍生工具“的定义所指明的涵义。周期期限SOFR确定日
““具有”SOFR“一词的定义中规定的含义。表现出允许的收购“具有第7.02(K)节规定的含义。
许可债务交换
“具有第2.19(A)节规定的含义。允许债务交换要约“具有第2.19(A)节规定的含义。
“许可债务交易所证券
“法律规定的或根据习惯保留或保留所有权而产生的留置权(包括有利于货物卖家和供应商的合同留置权)在正常业务过程中发生，但不构成借款的款项逾期未超过90天，或正通过适当的诉讼程序真诚地提出异议表现出
“与工伤补偿、失业保险和其他社会保障立法有关的质押或存款；
“根据第7.02节回购协议的投资被视为存在的留置权，以及合理的习惯初始存款和保证金存款；由第7.09节允许的合同限制构成的留置权(第7.09(B)(Iv)(A)和7.09(B)(Xiii)节除外)；声称的留置权，通过提交预防性的《统一商法典》融资报表或类似的备案证明；以及
“根据非美国法律对外国子公司强制施加或要求授予的留置权和特权。认可持有人“指(A)保荐人、(B)共同投资者、(C)管理股东和(D)上述(A)、(B)或(C)款所述人士为其成员的任何团体(《交易法》第13d-3和13d-5条所指的团体)；提供
“就本条(D)而言，上文(A)、(B)或(C)项所述人士合共拥有该“集团”实益拥有的控股公司全部有表决权股权的50%以上。允许的投资“指(A)任何允许的收购和/或(B)根据本协议允许的任何其他投资或收购。认可投资者
“指(A)保荐人，(B)保荐人的每一关联公司和投资经理，(C)由本定义(A)或(B)项所述任何人管理的任何基金或账户，(D)控股或其任何附属公司的任何雇员福利计划，以及以任何此类计划的受托人、代理人或其他受信人或管理人的身份行事的任何人或实体，及(E)控股公司管理层成员或借款人的投资工具，但不包括自然人、控股公司、借款人及其附属公司。
获准首次公开募股/税务重组“指与符合资格的首次公开招股或税务筹划及税务重组有关并与之合理相关的任何交易或行动，只要在其生效后，担保的价值或抵押品代理人在抵押品中的担保权益作为一个整体并未受到重大减损(由借款人真诚地厘定)。准许比率债务2024年再融资自产生之日起的定期贷款；
“提供进一步
“非贷款方产生或担保的允许比率债务的本金总额，连同(X)作为其他担保债务的任何增量定期融资和增量循环融资的本金总额，以及(Y)非贷款方根据第7.03(J)款发生或担保的任何增量等值债务、已发生的收购债务和任何其他债务的本金总额，不得超过非贷款方债务上限；允许再融资
““就任何人而言，指该人的任何债务的任何修改、再融资、再偿还、续期、替换或延期；提供
“加
“与该等修改、再融资、退款、续期、更换或延期有关而支付的其他合理款额及合理招致的费用及开支，以及相等于任何现有表现出(B)就根据第7.03(E)条产生的债务而进行的准许再融资除外，而该等修改、再融资、再融资、续期、重置或延期的加权平均到期寿命等于或长于(X)被修改、再融资、退款、续期、替换或延长的债务的剩余加权平均到期寿命及(Y)首字母
(a)
2024年再融资
(b)
首字母
(c)
人“指任何自然人、公司、有限责任公司、信托、合资企业、协会、公司、合伙企业、政府主管部门或其他实体。计划支出
“具有第2.07（b）（i）（B）（9）条中规定的含义。
站台
(d)
“具有第6.02条规定的含义。质押债务“具有《安全协议》中规定的含义。质押股权“具有《安全协议》中规定的含义。
(e)
位置表示法
(f)
“具有第11.01（i）（i）（i）条规定的含义。
“提前还款日“具有第2.07（b）（VIII）条中规定的含义。
“预付款通知“指根据第2.07（a）（i）条发出的基本上以附件J形式的书面通知。
“以前的控股“具有“控股”定义中指定的含义。
“最优惠利率”是指《华尔街日报》最后引用的美国“最优惠利率”利率，或者，如果《华尔街日报》停止引用该利率，则指美联储委员会在美联储统计发布的最高年利率H.15（519）（选定利率）作为“银行优质贷款”利率，或者，如果该利率不再引用，其中引用的任何类似利率（由行政代理人确定）或美联储发布的任何类似利率（由行政代理人确定）。
“私密端信息“指有关控股及其子公司的任何非公开信息的信息。
“表现出备考基数
““和”形式效应
““是指根据第1.08节确定或计算符合本协议项下的任何测试、契诺或计算(包括与特定交易有关的)。按比例分摊
““指(A)就任何贷款人在任何时间的某一特定类别的定期贷款的所有付款、计算及其他事宜而言，是一个分数(以百分率表示，计算至小数点后第九位)，其分子为该类别贷款人在当时的定期贷款本金，其分母为该类别所有贷款人在当时的定期贷款本金总额；(B)就任何贷款人在任何时间与某类别贷款人的无资金来源定期贷款承诺有关的所有付款、计算及其他事宜而言，指一个分数(以百分比表示，计算至小数点后第九位)，其分子为该类别贷款人在该时间的无资金来源定期贷款承诺的本金额，其分母为该类别所有贷款人在该时间的无资金来源定期贷款承诺的本金总额；及。(C)(I)就任何时间与任何特定类别贷款人的循环承诺有关的所有付款、计算及其他事宜，分数(以百分比表示，执行到小数点后第九位)，其分子是该贷款人类别的未使用的循环承付款，分母是该类别的所有贷款人在当时未使用的循环承付款的总和，以及(Ii)关于任何贷款人的给定类别的循环贷款的所有付款、计算和其他事项，以及任何贷款人在其中发出或购买的任何信用证，或任何贷款人在任何时间购买的任何循环额度贷款的任何参与(以百分比表示，执行到小数点后第九位)，其分子是该类别贷款人的循环风险金额，其分母是该类别所有贷款人在当时的循环风险总额。PTE
““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。上市公司成本
董事和高级管理人员的保险和其他行政费用、法律和其他专业费用以及上市费用。
公共贷款机构“指的是不希望收到私人信息的贷款人。公共信息“指(A)在控股公司或其任何附属公司或直接或间接母公司成为任何交易证券的发行人之前的任何时间，属于(I)适用法律规定须就控股公司或其任何附属公司根据当时登记的公开发售发行其债务或股权证券而公开披露的类型的资料，或(Ii)对于就控股公司或其任何附属公司的证券作出投资决定(就美国联邦、州或其他适用证券法而言)而言并无重大意义的资料，及(B)在Holdings或其任何附属公司或直接或间接母公司成为任何交易证券发行人之时或之后的任何时间，不构成有关Holdings或其任何附属公司或其各自证券之重大非公开资料(按美国联邦、州或其他适用证券法之涵义)的资料。表现出
“QFC“具有美国法典12中“合格金融合同”一词赋予的含义，并应根据美国法典12进行解释5390（c）（8）（D）。
“QFC信用支持对于将作为同等连带债务发生的增量贷款或增量等值债务，借款人的第一留置权净杠杆率等于或小于4.00至1.00；
“
“借款人的总净杠杆率等于或小于5.25：1.00；或适用测试期的利息覆盖比率等于或大于2.00至1.00。
“应收账款融资交易“指由控股公司、中间控股公司、借款人或任何受限附属公司达成的任何交易或一系列交易，借款人根据该交易或一系列交易，按借款人真诚确定的市场条件，完成将其应收款”真正出售“给无关的第三方；
“收件人“指（a）行政代理人、（b）任何贷方和（c）任何发行银行（如适用）。
参考日期
“具有“可用量”的定义中所规定的含义。再融资修正案
“指(A)借款人和(B)同意提供信贷协议的任何部分再融资根据第2.17节产生的债务的每个额外贷款人和贷款人签署的对本协议的修订。表现出
“再融资承诺“指任何再融资定期承诺或再融资循环承诺。
“再融资贷款“指任何再融资定期贷款或再融资循环贷款。
“再融资循环承付款“指本合同项下因再融资修正案而产生的一种或多种循环贷款承诺。
“再融资循环贷款“指由再融资修正案产生的一种或多种循环贷款。
“再融资定期承诺
“定期贷款再融资“指由再融资修正案产生的一种或多种定期贷款。
“退还的摇摆线贷款“具有第2.03(C)(I)节规定的含义。注册偿还义务“具有第2.04(C)(I)节规定的含义。
相关受偿人
“提供本定义中对受控关联方或控制人的每一次提及均应与参与融资谈判或辛迪加的受控关联方或控制人有关。相关政府机构“指(A)对于以美元计价的贷款、联邦储备系统理事会或纽约联邦储备银行理事会、或由联邦储备系统理事会或纽约联邦储备银行理事会正式认可或召集的委员会(在每种情况下，是指其任何继承者)和(Y)对于以欧元计价的贷款、欧洲货币市场协会或其任何继承者以及(B)对于Daily Simple RFR、SONIA管理人或其任何继承者。
(a)
可报告的事件
(b)
“就任何养老金计划而言，是指《雇员退休保障条例》第4043(C)节或根据该条例颁布的条例所规定的任何事项，但根据截止日期生效的条例免除了30天通知期的事项除外。
(c)
报告实体
“指KinderCare Learning Companies，Inc.，一家特拉华州公司。
重新定价事件
““意思是：借款人或任何其他贷款方产生任何以美元计价并构成同等优先权债务的广泛银团“定期贷款B”融资（包括构成本协议项下同等优先权债务的任何新的或额外的定期贷款，无论是直接产生的还是通过转换产生的
“首字母2024年再融资
定期贷款进入另一个
表现出
“本协议项下的再融资定期贷款类别）（i）利率差低于适用利率 首字母
“2024年再融资 定期贷款（基于当时的有效定价水平）和（ii）其收益用于预付（或在转换的情况下，被视为预付或替代）全部或部分未偿还本金
“首字母2024年再融资
“ 定期贷款，或适用费率的任何降低
“首字母2024年再融资 通过修订本协议的方式提供定期贷款;表现出.
“受限支付“指因购买、赎回、退休、失败、收购、注销或终止任何该等股权，或因向借款人或受限制附属公司的股东、合伙人或成员(或其同等人士)返还资本而就借款人或任何受限制附属公司的任何股权作出的任何股息或其他分派(不论以现金、证券或其他财产)，或任何付款(不论以现金、证券或其他财产)，包括任何偿债基金或类似存款。
“受限子公司“指借款人的任何子公司，但不受限制的子公司除外。
“留存超额现金流金额“指与下列数额之和相等的数额：(A)超额现金流量
“减号(B)由截至2024年12月31日的财政年度开始，在截止日期后结束的每个财政年度所需的赔偿基金预付款额。
“重估日期“指(A)就以另一种货币计价的任何循环贷款而言，包括下列各项：(1)借款的每个日期；(2)根据本协定条款继续借款的每个日期；(3)借款人每个财政季度的最后一天；及(4)自愿减少与之有关的循环承付款的日期；(B)就以另一种货币计价的任何信用证而言，下列各项中的每一项：(I)该信用证的每个签发日期，(Ii)该信用证的任何修改的每个日期，其效果是增加其声明的金额和(Iii)每个财政季度的最后一天；以及(C)在(I)违约事件已经发生并仍在继续，或(Ii)所有循环贷款人的循环风险总额(为此，使用最近重估日期的有效美元金额)超过循环承诺本金总额90%的范围和时间的任何时间，规定循环贷款人应要求的额外日期。
循环承诺
“循环承诺期
““指从结算日到但不包括循环承付终止日的期间。循环承诺终止日期
““指(A)(一)就循环非延期付款承付款而言，截止日期的五周年，和(二)就循环延期付款承诺而言，(X)延长的循环到期日和(Y)如果首字母
“2024年再融资除另一家证券化附属公司外，任何控股公司、借款方或借款方的任何其他附属公司均无责任维持或维持该实体的财务状况或促使该实体达到一定水平的经营业绩。
“安全协议“指贷款方主要以附件F的形式签署的担保协议，以及根据第6.11节签署和交付的每份担保协议补充条款。
“安全协议补充“具有《安全协议》中规定的含义。
“短导数乐器“是指衍生工具(I)其价值普遍减少，及/或该衍生工具持有人的付款或交付义务普遍增加，而履约基准则有正面变动；及/或(Ii)其价值普遍增加，及/或该衍生工具持有人的付款或交付义务普遍减少，而履约基准则出现负面变动。重要子公司“指任何受限制附属公司，将是美国证券交易委员会S-X规则第1条规则1-02所界定的”重要附属公司“，该规则于截止日期生效。类似的业务.
““指(I)任何业务，其大部分收入来自借款人及其受限制附属公司在结算日所进行的业务或活动，(Ii)任何该等业务的自然衍生或合理延伸、发展或扩大的任何业务，或任何类似、合理相关、附带、补充或附属于上述任何业务的业务，(Iii)在借款人真诚的业务判断下构成借款人及其受限制附属公司所进行的业务的合理多元化的任何业务，及(Iv)进行第(I)至(Iii)款及/或其任何附属公司所述任何业务的任何人。为免生疑问，任何人士如至少拥有从事类似业务的另一人的大部分股权，应被视为从事类似业务。SOFR“指年利率等于有担保的隔夜融资利率，如表现出
“由SOFR管理员管理。SOFR管理员
“溶剂“和”
“偿付能力税费
““具有第3.01（a）节中规定的含义。期限基准
““意思是：（a） 对于以美元计价的定期基准贷款的任何利息期，利率
“每年 等于SOFR期限;以及
“（b） 对于以欧元计价的定期基准贷款的任何利息期，利率 每年
“ 等于欧元汇率。期限基准借款
““就任何借款而言，指构成此类借款的期限基准贷款。定期基准贷款“指以美元或欧元计价的贷款，其利率基于“期限基准”定义的第（a）或（b）条（如适用）。定期贷款机构
““指具有定期贷款承诺和/或定期贷款的贷方。定期贷款“意思是首字母2024年再融资 “指(A)截止日期EBITDA和(B)TTM合并调整后EBITDA中较大者的30%，按适用确定日期的形式计算。总净杠杆率
““指在任何确定日期，(A)截至该日期的综合未偿净债务与(B)借款人在适用测试期内的综合调整后EBITDA的比率。循环承付款项的利用总额
““指在任何确定日期，(1)所有未偿还循环贷款(循环贷款除外)的本金总额，其目的是偿还任何已偿还的循环额度贷款或向开证行偿还根据任何信用证提取但尚未如此运用的任何金额，(2)所有未偿还循环额度贷款的本金总额和(3)信用证用途。交易型证券“指根据美国的公开发行或第144A条发行，或根据加拿大、英国或任何欧盟成员国的类似法律发行的任何债务或股权证券。交易费用
“指控股或其任何附属公司因交易、本协议及其他贷款文件及拟进行的交易而产生或支付的任何费用或开支，包括在任何期间内的任何摊销。
交易记录
““统称为：(A)再融资截止日期，(B)[保留]，(C)贷款文件的签署和交付，(D)完成与上述有关的任何其他交易，以及(E)支付与上述任何一项有关的费用和开支，包括交易费用。表现出
“变革性交易“指(A)将导致控制权变更的任何交易或事件，(B)将导致合格IPO的任何交易，(C)借款人或任何受限制子公司(I)在紧接该收购完成前的任何贷款文件条款不允许的(X)或(Y)在紧接该收购完成前的贷款文件条款允许的情况下的任何收购，将不会根据贷款文件为借款人及其受限制子公司在完成收购后继续和/或扩大其合并业务提供足够的灵活性，(Ii)借款人的综合经调整EBITDA(按备考基准计算)增加超过25,000,000美元，或(D)借款人的任何股权分担额、借款人或其受限制附属公司的任何处置或投资或任何其他交易，所得收益或购买价格(视何者适用而定)不少于75,000,000美元或(E)任何股息资本重组。
“TTM合并调整后EBITDA“指在任何确定日期，借款人在当时有效的适用测试期内的综合调整后EBITDA。类型(k) “就一笔贷款而言，是指其作为基本利率贷款、定期基准贷款或RFR贷款的性质，或就以替代货币计价的贷款而言，是指在该货币成为替代货币时，参照与适用类别贷款人商定的一个或多个基准利率计息的贷款的性质。美国政府证券营业日
““指除(A)星期六、(B)星期日或(C)证券业和金融市场协会建议其会员的固定收益部门全天关闭以进行美国政府证券交易的任何一天。美国收件箱
““具有第3.01(E)节规定的含义。美国特别决议制度
““具有第11.26节规定的含义。英国金融机构
““指任何BRRD事业（该术语的定义根据英国审慎监管局颁布的TRA规则手册（不时修订））或任何属于FCA手册IFPRU 11.6范围的人（经不时修订）由英国金融行为监管局颁布，其中包括某些信贷机构和投资公司，以及此类信贷机构或投资公司的某些附属机构。英国决议机构
““指英格兰银行或任何其他负责解决任何英国金融机构问题的公共行政当局。无资金预付款/预付款“指(A)就行政代理人而言，指(I)在假设各贷款人已向行政代理人提供第2.01(B)(Iv)条和第2.02(B)(Ii)节所设想的可供行政代理人使用的适用借款中的贷款人份额的情况下，向借款人提供的总额，以及(Ii)借款人实际上不应将相应的金额退还给行政代理人或由任何该等贷款人提供给行政代理人的相应金额；(B)就回旋贷款机构而言，如有的话，对于任何循环贷款人未能将第2.03(C)和(C)节规定该贷款人就开证行支付的任何款项转给行政代理的未偿还的循环额度贷款，指循环贷款人未根据第2.04(C)节向适用的开证行提供的信用证项下提取的款项的总额(如有)。表现出
“统一商业代码“或”
“UCC“指《统一商法典》或其任何后续条款，该条款可能不时在纽约州生效，或《统一商法典》或其任何后续条款（或类似的法典或法规）在可能需要适用于任何一项或多项抵押品的范围内。
美国
“和”
“美国"指的是美利坚合众国。
“无限制托管子公司“具有第1.10节规定的含义。不受限子公司“指(A)截至结算日，借款人的每家附属公司列于附表1.01；(B)借款人在结算日后根据第6.14节指定借款人的任何附属公司为非限制性附属公司；及(C)非限制性附属公司的任何附属公司。
“《美国爱国者法案》“是指《通过提供拦截和阻止恐怖主义所需的适当工具来团结和加强美国》2001年法案（第107-56号公共法第三篇（2001年10月26日签署成为法律）），并不时修订。
(a)
加权平均寿命至成熟期“指在任何日期适用于任何债务的年数，除以：乘积的总和，乘以(I)每笔当时剩余的分期付款、偿债基金、连续到期日或其他需要支付的本金(包括最后到期日的付款)的金额，乘以(Ii)从该日期到支付上述款项之间的年数(计算到最接近的十二分之一)，乘以该债务当时的未偿还本金金额；但为确定(I)任何再融资贷款、(Ii)任何正被修改、再融资、退款、续期、替换或延期的债务，或(Iii)任何为招致任何其他债务的目的的定期贷款的加权平均到期日(在任何该等情况下，“”),
(b)
适用的负债“)，在适用的修改、再融资、退款、续期、替换、延期或发生之日之前对此类适用债务所作的任何摊销付款或其他预付款的影响(包括任何预付款对剩余的预定摊销的影响)应不予考虑。”),
(c)
全资拥有“就某人的附属公司而言，指该人的附属公司，而该附属公司的所有已发行股权(除(A)董事的合资格股份及(B)在适用法律规定范围内向外国人或其他第三方发行的名义股份除外)由该人和/或由该人的一间或多间全资附属公司拥有。提款责任“指贷款方或其各自的任何ERISA关联公司因完全或部分退出多雇主计划而对该多雇主计划承担的责任，该术语在ERISA第四章副标题E第一部分中有定义。
(d)
扣缴义务人
“指借款人或任何其他贷款方和行政代理。
减值和折算权力“指：(A)就任何欧洲经济区决议当局而言，指该欧洲经济区决议当局根据适用的欧洲经济区成员国的自救立法不时减记和转换的权力，
“表现出欧盟自救立法附表中描述了权力，以及(B)就联合王国而言，自救立法下适用的决议管理局取消、减少、修改或改变任何英国金融机构的负债或产生该负债的任何合同或文书的形式，将该负债的全部或部分转换为该人或任何其他人的股份、证券或义务的任何权力，本条例旨在规定任何该等合约或文书的效力，犹如某项权利已根据该合约或文书行使一样，或暂时吊销与该等权力有关或附属于该等权力的任何法律责任或该自救法例所赋予的任何权力的任何义务。
“第1.02节其他解释条款
“。关于本协议和其他贷款文件，除非本协议或其他贷款文件另有规定，否则：定义术语的含义同样适用于定义术语的单数形式和复数形式。
“在任何贷款文件中使用的“本文件”、“本文件”、“本文件”和“本文件下文”以及类似含义的词应指该贷款文件作为一个整体，而不是其中的任何特定规定。本协议中对附件、附表、条款、章节、条款或子款的引用是指(A)本协议中相应的附件或附表，或本协议中的条款、章节、条款或子条款，或(B)如果本协议中没有此类引用，则指出现此类引用的贷款文件。
““包括”一词是举例说明，而不是限制。“文件”一词包括任何和所有文书、文件、协议、证书、通知、报告、财务报表和其他书面形式，无论是实物形式还是电子形式。
“在计算从某一特定日期到后一特定日期的时间段时，“自”一词是指“自”和“包括”；“到”和“到”是指“到但不包括”；而“通过”一词是指“到并包括”。(A)违约或违约事件及(B)因违反无违约或无违约事件条件而导致的任何违约或违约事件，或仅因该等事件、失败或交易的存在而在任何时间就没有违约或违约事件作出的任何失实陈述，在每种情况下均应停止“持续”或“存在”，如导致该违约或违约事件的初始事件、失败或交易已在任何定期或特别报告(包括合规证书)中向行政代理人及贷款人作出公开宣布或书面通知，则视为已治愈。自该公告或通知之日起两年后，管理代理或本合同项下必要的贷款人未就该事件、失败或交易采取任何加速或其他执法行动(包括交付违约通知)。就任何违约或违约事件而言，“已存在”、“仍在继续”或与之相关的类似表述应指该违约或违约事件已经发生并且尚未得到补救或放弃。如果由于以下原因而发生违约或违约事件：(A)任何借款方或其他受限制子公司未能在规定时间前采取任何行动，该违约或违约事件应被视为在适用的借款方或其他受限制子公司采取此类行动时(如有)得到纠正，或(B)任何贷款方或其他受限制子公司采取本协议或任何其他贷款文件的条款当时不允许的任何行动，例如表现出
“违约或违约事件应被视为在(I)根据本协议和其他贷款文件允许在该时间采取该行动的日期和(Ii)该行动被平仓或以其他方式修改至本协议和其他贷款文件在该时间允许该修订的行动所需的范围内发生的较早者被视为治愈。如果发生随后治愈的任何违约或违约事件(a“治愈的默认设置
““)，任何贷款方作出或被视为作出任何陈述或担保，或任何贷款方或任何贷款方的任何附属公司采取任何行动而导致的任何其他违约或违约事件，在每一种情况下，如果没有发生已治愈的违约，随后的违约或违约事件就不会发生，应被视为在治愈违约时自动治愈，并与治愈的违约同时治愈。即使本第1.02(E)节有任何相反规定，违约事件(初始默认设置
““)可能无法根据本第1.02(E)节进行治愈：如果任何贷款方或贷款方的子公司采取了在该初始违约持续期间不被允许的任何行动，并且由于该初始违约的持续而直接导致该初始违约的补救，并且适用的贷款方或子公司在采取任何该等行动时实际知道该初始违约已经发生并且正在继续，
“如果9.01(H)或(I)项下的违约事件直接导致贷款人、抵押品代理人和行政代理人在贷款文件下的权利和补救措施受到实质性损害，并且无法治愈，如果第8.01(C)款下的违约事件是由于不履行或遵守第6.07款而导致的，直接对借款人和其他贷款方(作为一个整体)履行其在借款人或任何其他贷款方作为一方的任何贷款文件下的各自付款义务的能力造成重大不利影响，或
(a)
在初始违约的情况下，(I)借款人没有按照第6.03(A)和(Ii)节的规定及时向行政代理和贷款人发出关于该初始违约的通知；(Ii)借款人实际知道该违约没有及时发出通知。
(i)
“招致”一词应解释为意味着招致、产生、发出、承担、对存在承担责任或忍受存在(而“招致”和“招致”一词应具有相关含义)。任何债务的“到期日”、“到期日”、“预定到期日”或“最终到期日”(或类似含义的词语)或任何债务“到期日”，应指在有关该债务的最终文件中指明为最终本金到期和应付的固定日期，而不是指由于违反任何契约或发生任何交叉违约而成为到期和应付债务的日期。任何循环贷款的到期日应为循环承付款的终止日期。任何延迟提取定期贷款的到期日应是根据其作出的定期贷款的到期日，而不是定期贷款承诺的终止日期。
(ii)
对于彼此基本上同时完成的多笔交易，应允许借款人指定完成此类交易的顺序；
提供
(A)
为免生疑问，根据第1.08(E)节的规定，在确定任何篮子的可用性或任何财务比率的计算时，应对所有此类交易给予形式上的效力。此处和其他贷款文件中的章节标题仅用于参考，不应影响对本协议或任何其他贷款文件的解释。表现出
(B)
行政代理不保证也不承担任何责任，也不对以下情况承担任何责任：(I)符合变更的任何基准更换；(Ii)与基准定义中的费率有关的管理、提交或任何事项；或与基准定义中的费率或作为其替代、可比或后续费率的任何费率有关的任何事项；或(Iii)任何前述影响。
(C)
第1.03节
(D)
会计术语;等。除本协议另有明确规定外，所有未明确或完全定义的会计术语均应按照本协议规定提交的所有财务数据(包括财务比率和其他财务计算)进行解释，所有财务数据(包括财务比率和其他财务计算)应按照GAAP编制。除上下文另有说明外，凡提及“财政年度”应指借款人的财政年度，任何提及“财政季度”应指借款人的财政季度。贷款文件下的“公平市价”(或类似条款)或“公平距离”(或类似条款)的所有厘定应由借款人真诚地作出，如该等厘定与独立财务顾问的估值或意见一致，则该等厘定在贷款文件的所有目的下均为最终决定。在合并财务报表例外允许的范围内，除非借款人酌情选择，否则报告实体的合并结果应被视为借款人的综合结果。尽管本协议有任何其他相反规定，借款人仍可选择更改其财政年度的决定，包括更改为“5-4-4”财政年度，并征得行政代理的同意(此类同意不得被无理扣留、附加条件或延迟)，修改本协议以实施与此相关的任何行政和技术更改，且该修改将在任何贷款人不采取任何进一步行动的情况下生效，行政代理不需要贷款人同意即可进行该修改。第1.04节
(E)
舍入
(F)
。根据本协议允许采取的具体行动所需满足的任何财务比率，应通过将适当的组成部分除以另一个组成部分来计算，并将结果带到小数点后一位，比本协议中表示该比率的小数位数多一位(“
(b)
适用的小数位数
(i)
”）并将结果向上或向下四舍五入至适用的小数位。第1.05节
(ii)
对协议、法律等的提述
除非本合同另有明确规定，否则：(A)凡提及组织文件、协议(包括贷款文件)和其他合同文件时，应被视为包括对其进行的所有后续修订、重述、延期、补充和其他修改，但仅限于任何贷款文件不禁止此类修改、重述、延期、补充和其他修改的范围；以及(B)对任何法律的提及应包括不时生效的合并、修正、取代、补充或解释该法律的所有法规和规章规定。
(c)
第1.06节
“一天中的时间. 除非另有规定，否则本文中所有提及的时间均应参考纽约市时间（白天或标准，如适用）。
“第1.07节可用金额交易
“。如果在任何给定日期发生一项以上行动，而采取行动的允许性是参照紧接在采取该行动之前的可用量确定的，则采取每一项此类行动的允许性应独立确定，但在任何情况下，任何两项或两项以上此类行动都不能被视为同时发生，即，每项交易都必须在如此计算的可用量下获得许可。第1.08节形式计算.有限条件交易.篮子和比率表现出
“合规性尽管本协议有任何相反规定，财务比率和测试，包括第一留置权净杠杆率、担保净杠杆率、总净杠杆率、利息覆盖率和TTM综合调整后EBITDA(在每种情况下，其组成部分定义)应按第1.08节规定的方式计算；
“提供，尽管第1.08节第(B)、(C)或(D)款有任何相反规定，但在计算第一留置权净杠杆率时，(1)“适用承诺费”的定义，(2)“适用费率”的定义，(3)[保留]，(4)“适用ECF预付款百分比”的定义和(5)实际遵守财务公约的情况(但不是其任何形式上的遵守)，在适用测试期结束后发生的第1.08节中描述的事件不应被赋予形式上的效力；
“提供进一步
“为确定适用的ECF预付款百分比，(I)在借款人的选择下，但如在计算上一财政年度的适用ECF预付款百分比时已考虑对等连带债务的减少，则应对在适用强制性预付款日期或之前作出的定期贷款、递增等值债务和其他同等连带债务的所有自愿预付款生效；及(Ii)应按照“适用ECF预付百分比”的定义，对适用的强制性预付款给予影响。为了计算任何财务比率或测试，包括第一留置权净杠杆率、担保净杠杆率、总净杠杆率、利息覆盖率和TTM综合调整后EBITDA(在每种情况下，其组成部分的定义)，在适用的测试期内或(Ii)在测试期之后以及在计算任何该等比率、测试或金额的事件之前或同时进行的指明交易应以
“形式上假设所有该等指定交易(以及综合调整后EBITDA及其中使用的可归因于任何指定交易的财务定义的任何增加或减少)已于适用测试期的第一天发生，而就任何获准投资而言，该等备考效力应于签署有关最终文件时生效，犹如该等交易在签署该最终文件后立即结束(除非及直至终止)。如果自任何适用的测试期开始以来，任何后来成为受限制子公司或自测试期开始以来与借款人或其任何受限制子公司合并、合并或合并的任何人进行了任何需要根据第1.08节进行调整的特定交易，则财务比率或测试，包括第一留置权净杠杆率、担保净杠杆率、总净杠杆率、利息覆盖率和TTM综合调整后EBITDA，应根据第1.08节计算，以使其具有形式上的效力。关于任何
“形式上与任何收购或投资有关的计算，如有关目标的财务报表在借款人有财务报表的同一测试期内不能获得，借款人应确定
“形式上根据现有财务报表(如果不同时期进行适当调整)或借款人以商业上合理的方式确定的其他基础进行计算。
“每当将形式上的效果赋予指定的交易时，形式上
“借款人的负责人员应真诚地进行计算，为免生疑问，可包括借款人真诚地预计由于采取、承诺采取或预期采取的具体行动而实现的成本节约、运营费用减少和协同增效的金额(按形式上
如该等成本节省、营运开支削减及协同效应已在试用期的第一天及犹如该等成本节省、营运开支削减及协同效应已在整段期间内实现一样)与该指定交易有关)，扣除在该期间内从该等交易中取得的实际利益
“表现出行动(如节省费用和协同增效，“
“指定的事务处理调整提供
“在借款人的善意判断下，(I)该等指定交易调整是可合理识别、合理预期可实现及可在事实上支持的，(Ii)该等行动已采取、承诺或预期将在该等指定交易日期后18个月内进行，(Iii)不得根据本条(C)在与计算综合调整后EBITDA时以其他方式加回的任何金额重复的范围内增加任何金额，不论是通过形式上
“关于任何测试期的调整或其他方面，以及(Iv)根据综合调整后EBITDA定义第(A)(Xix)条在该测试期内可加回的“运行率”成本节约、运营费用削减和其他成本协同效应的总额，连同关于该测试期的指定交易调整，合计不得超过该测试期的合并调整后EBITDA的30%(在实施该等追加和指定交易调整后计算)；提供进一步，借款人可在借款人的唯一和绝对酌情决定权下，选择不将所有
“形式上对金额或价值(如适用)少于25,000,000美元的指明交易(受限制付款除外)的调整。
“如果借款人或任何受限附属公司产生(包括通过假设或担保)或偿还(包括通过赎回、偿还、报废或清偿)计算任何财务比率或测试中包括的任何债务，包括第一留置权净杠杆率、担保净杠杆率、总净杠杆率和利息覆盖率(视属何情况而定)，则该财务比率或测试包括第一留置权净杠杆率，或(Ii)在适用测试期结束后以及在计算任何该等比率的事件之前或同时，在计算有担保净杠杆率、总净杠杆率和利息覆盖率时，应在所需的范围内对该等债务的产生或偿还给予形式上的影响，就杠杆率而言，犹如其发生在适用测试期的最后一天，或就覆盖率而言，在测试期的第一天发生相同情况。如任何债项采用浮动利率并具有形式上的效力，则计算该等债项的利息时，须视乎计算利息覆盖率或其他覆盖率当日的有效利率为整段期间的适用利率(已考虑适用于该等债务的任何利息对冲安排)。资本化租赁债务的利息应被视为按借款人的负责人员根据公认会计准则合理确定的利率计提，该利率为该资本化租赁债务中隐含的利率。债务利息可根据最优惠利率或类似利率的系数或其他利率选择性地确定，应根据实际选择的利率确定，如果没有实际选择，则根据借款人或其受限制附属公司可能指定的可选利率确定。即使本协议或任何贷款文件中有任何相反的规定(I)除非借款人另有选择，否则如果借款人或其受限制的附属公司与任何交易或一系列此类相关交易(A)产生债务、设定留置权、进行处置、进行投资、指定任何附属公司为受限制或不受限制的附属公司、偿还任何债务或根据比率篮子或按比率篮子允许的方式采取任何其他行动，以及(B)产生债务、设定留置权、进行处置、进行投资、将任何附属公司指定为受限制或不受限制，或偿还一个或多个非比率篮子下的任何债务或采取任何其他行动(应发生在上文(A)款事件发生后5个工作日内)，则适用比率将针对任何负面契约下适用的比率篮子下的任何此类行动计算，而不考虑与该交易或一系列相关交易相关的该负面契约下该非比率篮子下的任何此类行动；及(Ii)如果借款人或任何受限制的附属公司在比率篮子下产生债务，(A)这种基于比率的货币篮子(连同与此相关使用的任何其他基于比率的货币篮子，包括关于其他债务、留置权、处分、投资、限制性付款或与初级融资有关的付款)将是
“表现出(B)为厘定任何杠杆率或覆盖率(包括第一留置权净杠杆率、担保净杠杆率、总净杠杆率或利息覆盖率(视乎情况而定))，(B)在厘定任何杠杆率或覆盖率时，不包括因此而产生的任何循环贷款或任何其他循环融资项下的借款。例如，如果借款人在比率增量数额项下产生无担保增量等值债务的同一天发生一般债务篮子下的债务，则将根据比率增量数额就此类债务计算总净杠杆率和任何其他适用比率，而不考虑一般债务篮子下发生的任何债务。在不限制以下(F)款的情况下，(I)如果借款人或其受限子公司作出任何循环融资承诺(包括任何增量循环融资或以增量等值债务形式作出的循环承诺)，则该循环融资应被视为自首次收到此类承诺之日起已全部提取，此后，就第7.03节或计算增量金额而言，该循环融资项下的借款不应构成债务，以及(Ii)如果借款人或其受限子公司进行任何延迟提取定期贷款或其他承诺定期债务融资，就本协定而言，就该融资提供全额承诺的日期不应构成在该时间产生或使用任何篮子容量(本条款(E)、“
(a)
堆叠规定
(b)
即使本协议或任何贷款文件中有任何相反规定，当(I)计算任何适用的比率或篮子(包括基于TTM综合调整后EBITDA的篮子)时，(I)计算与债务发生、设立留置权、进行任何处置、进行投资、进行限制性付款、指定子公司为受限制或不受限制的子公司、偿还债务或出于任何其他目的有关的任何适用比率或篮子时，(Ii)确定任何陈述或担保的准确性，(Iii)确定任何违约或违约事件是否已经发生、正在继续或将因任何行动而导致，或(Iv)决定是否符合任何诉讼或交易的任何其他条件，在第(I)至(Iv)条中的每一项与有限条件交易有关的情况下，该比率或篮子的厘定日期、该陈述或担保的准确性(但须考虑其中指定的任何较早日期)、任何失责或违约事件(或任何指定的失责事件)是否已经发生、是否持续或将由此导致的任何其他条件的满足，或任何其他条件的满足，应由借款人选择(借款人选择就任何有限条件交易行使该选择权)
(c)
LCT选举
““)，应视为(I)订立该有限条件交易的最终协议或意向书之日，或(Ii)交付不可撤销的预付款或赎回通知之日(视适用情况而定)。提供
“尽管根据上述第(I)和(Ii)款作出了长期合同选择，借款人仍可在(W)第(I)款所指的任何最终协议或意向书的任何修订、(X)在该有限条件交易或与之相关的其他交易或与之相关的其他交易完成之前交付任何财务报表时，选择(凭其完全酌情决定权)重新确定上述第(I)、(Ii)、(Iii)和(Iv)条中的一项或多项。(Y)在该有限条件交易或与之相关的其他交易或与之相关的行动或交易完成之前，贷款文件规定需要进行形式计算的任何其他交易完成，或(Z)该有限条件交易或与之相关的其他交易或与之相关的行动或交易完成)表现出
(“
“LCT测试日期“)。如果在实施该等有限条件交易及与该等交易相关的其他交易(包括任何债务的产生及所得款项的使用)后，按形式计算该等比率、金额、陈述及保证、无违约、条件的满足及其他条款，则该等有限条件交易或其他交易的计算方式，犹如该等有限条件交易或其他交易是在截止于LCT测试日期之前的适用测试期开始时发生的，则借款人本可在相关的LCT测试日期按照适用的比率、金额或其他规定采取该等行动，则该等规定应视为已获遵守。为免生疑问，(I)若任何该等比率、金额、陈述及保证、无违约、满足条件或其他规定因该等比率的波动(包括综合调整后EBITDA的波动)、在相关有限条件交易完成时或之前的事实及情况的改变或其他规定而被超越或违反，则该等比率、陈述及保证、无违约、满足先决条件及其他规定不会被视为已被超越、违反，或仅为确定有限条件交易和任何关联交易是否在本协议下被允许的目的而因该等波动或情况变化而失败(
“提供如果任何比率因该等波动而改善或增加，则可利用该等经改善的比率或增加的一篮子)及(Ii)该等比率及符合该等条件的情况，不得在该等有限条件交易或相关指定交易完成时进行测试；
“提供如果借款人已就任何有限条件交易进行长期现金转移选择，则在相关长期转移测试日期当日或之后以及在该有限条件交易完成日期之前，就任何其他指定交易的任何比率或篮子可用性的任何后续计算而言，该有限条件交易的最终协议或意向书终止或到期的日期，或不可撤销通知到期的日期，而该有限条件交易仍未完成，任何该等比率或篮子应按备考基准计算，假设该有限条件交易及与此相关的其他交易(包括任何债务产生及所得款项的使用)已完成。就根据本条款(F)计算利息覆盖率或其他覆盖率而言，综合利息开支可根据任何融资承诺文件所载有关该等债务的指示性利差，或如无该等指示性利差，由借款人善意合理厘定，以计算与该有限条件交易有关的债务的假设利率。
“[保留]。如产生任何债务、设定留置权、作出处置、作出投资、指定任何附属公司为受限制或不受限制的附属公司、偿还任何债务或根据本协议或任何其他贷款文件(或前述贷款文件的任何部分)的任何规定采取任何其他行动，而该等债务或其他贷款文件(或前述贷款文件的任何部分)先前在任何基于比率的篮子内划分和分类(或重新划分和重新分类)，则在任何情况下，此类重新划分和重新分类应被视为自动发生，除非借款人另行选择。此外，对于多笔交易，借款人应被允许对这些交易被视为完成的顺序进行排序(并随后重新排序)，以便在适用的篮子中产生每一笔此类交易
“形式基数提供在符合叠加规定的情况下，在确定任何非比率篮子或比率篮子的可用性时，应对所有此类交易给予形式上的效力。第1.09节
“货币等价物一般表现出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以美元以外的货币发生，或以美元计价的任何最低限额或资格要求是否适用时，借款人应根据产生或产生时确定的货币汇率(如果是循环债务或承诺支付的任何数额，则为首次承担时)，或在发生这种情况之前合理地提前确定数额；提供如为其他以外币计价的债务进行再融资而产生任何债务，而该等再融资如按该再融资当日有效的有关货币汇率计算，则会导致超出适用的以美元计价的限制，只要该等再融资债务的本金不超过该等再融资债务的本金，则该以美元计价的限制应被视为并未超过。在债务、投资、留置权、处分、限制性付款或此类其他金额发生后，任何违约或违约事件不应被视为纯粹由于汇率变化而发生的。为厘定综合经调整EBITDA、综合总资产、综合利息开支、第一留置权净杠杆率、有担保净杠杆率、净杠杆率总额、利息覆盖率及任何其他财务比率，所有以美元以外货币计值的金额，将按借款人于适用测试期间(或借款人选择)的综合财务报表所反映的有效汇率，就任何目的(包括测试财务契约或任何其他财务契约)折算为美元。在适用的测试期内对适用货币的平均汇率)，并将反映在确定此类债务的美元等值之日，根据本协议允许的对适用货币的货币兑换风险的对冲协议的货币换算效果。第1.10节
“无限制托管子公司根据本协议允许发生的任何债务(包括任何增量贷款)，可由借款人选择由新设立和新指定的不受限制的子公司(AN)承担
“无限制托管子公司“)除了这种产生的债务的现金收益外，没有其他资产
“加根据第7.02节的规定，任何现金和现金等价物，如利息、费用和费用的保证金、额外的现金抵押品或用于其他目的，提供给该无限制托管子公司，该无限制托管子公司随后将与借款人或任何有限制的子公司合并并并入借款人或任何有限制的子公司，借款人或该受限制的子公司在合并后仍然存在，并承担该无限制托管子公司的所有债务。只要借款人或任何受限制附属公司在无限制托管附属公司发生此类债务时被允许直接产生此类债务，或就与有限条件交易有关的任何债务而言，借款人可在作出长期托管选择时作出选择，则设立、指定和重新指定无限制托管附属公司以及将无限制托管附属公司合并为借款人或任何受限制附属公司不应受任何附加条件的限制，包括任何条件，即当时不会发生任何违约或违约事件且仍在继续。
“第1.11节无现金交易
“尽管本协议或任何其他贷款文件中有任何相反规定，但只要(X)任何贷款人延长其任何当时现有贷款的到期日，或用增量贷款、再融资贷款、延期贷款或在新信贷安排下发生的贷款，或(Y)借款人或受限制附属公司的任何债务表现出
“在上述每种情况下，只要该贷款人或该其他债务的债权人以“无现金滚动”的方式对任何贷款进行延期、置换、续期或再融资，则此类延期、置换、续期或再融资应被视为符合(X)本合同项下的任何要求或任何其他贷款文件中关于以“美元”、“立即可用资金”、“现金”或任何其他类似要求或(Y)第2.01节的任何现金资金要求付款的要求。第2.02节或第2.14节，视情况而定。第1.12节
“付款和绩效如果任何债务或履行任何契诺、责任或义务被声明为在营业日以外的某一天到期或履行，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随其后的下一个营业日(有一项理解并达成一致，即仅为了计算本协议所载的财务契诺和计算并确定其遵守情况，如果在任何该延长的到期日全额付款，则该等付款应被视为已在原定到期日支付，而不影响其任何延期)。
“第1.13节基准替换设置
“基准替换。尽管本协议或任何其他贷款文件有任何相反规定，在发生基准转换事件或提前选择加入时(视情况而定)，行政代理和借款人可修改本协议，以基准替代方案取代当时的基准。任何此类修正案都将于下午5点生效。在行政代理向所有贷款人和借款人张贴该建议修订后的第五(5)个工作日，只要行政代理在该时间尚未收到由所需贷款人(或在仅影响某些设施的情况下，由受影响的一个或多个设施的所需设施贷款人组成的贷款人)发出的反对该修订的书面通知(如果是受影响的多个设施，则作为一个类别投票)。在适用的基准过渡开始日期之前，不得根据第1.13(A)节的规定用基准替换来替换基准。
基准更换符合性变更
“。在使用、管理、采用或实施基准替换时，行政代理和借款人可以修改本协议，以使基准替换符合不时的更改，并且，尽管本协议或任何其他贷款文件中有任何相反规定，实施该基准替换符合更改的任何修订将生效，而无需本协议或任何其他贷款文件的任何其他各方的进一步行动或同意。通知；决定和决定的标准
“。行政代理将及时通知借款人和贷款人：(I)发生基准转换事件或提前选择(视情况而定)及其相关基准替换日期和基准转换开始日期；(Ii)任何基准替换的实施；(Iii)任何符合更改的基准替换的有效性；(Iv)根据第1.13(D)节的规定移除或恢复基准的任何期限；以及(V)任何基准不可用期间的开始或结束。行政代理或借款人，或任何贷款人(或贷款人团体，如适用)根据第1.13节作出的任何决定、决定或选择，包括关于期限、利率或调整的任何决定，或关于某一事件、情况或日期的发生或不发生的任何决定，以及采取或不采取任何行动或选择的任何决定，将是决定性的和具有约束力的，没有明显错误，并且可以单独作出表现出
“未经本协议或任何其他贷款文件的任何其他当事人的同意，酌情决定，除非在每种情况下，根据本1.13节明确要求。无法获得或增加基准的基准期
“。尽管本协议或任何其他贷款文件中有任何相反规定，但在任何时候(包括与基准替代的实施有关)，(I)如果当时的基准是定期利率(包括期限SOFR参考利率)，并且(A)该基准的任何基调没有显示在屏幕上或发布由管理代理以其合理决定权不时选择的该利率的其他信息服务，或者(B)该基准的管理人的监管监管者已经提供了公开声明或信息发布，宣布该基准的任何基调不具有或将不具有代表性，则管理代理：经借款人同意，借款人可在该时间或之后修改任何基准设置的“利息期”的定义(或任何类似或类似的定义)，以删除该不可用或不具代表性的基调，(Ii)如果根据上述第(I)款被删除的基调随后显示在屏幕或信息服务上，用于发布行政代理根据其合理决定权不时选择的利率的基准(包括基准替换)，或者(B)不是或不再是，在宣布其不代表或将不代表基准(包括基准替换)的情况下，经借款人同意，行政代理可在该时间或之后修改所有基准设置的“利息期”的定义(或任何类似或类似的定义)，以恢复该先前移除的基准期，以及(Iii)如果该基准的新基准期显示在屏幕或信息服务上，且该基准(包括基准替换)不时发布由管理代理根据其合理决定权选择的利率，则行政代理经借款人同意，可在该时间或之后修改所有基准设定的“利息期限”的定义(或任何类似或类似的定义)，以增加该新的期限。基准不可用期限
“。借款人在收到基准不可用期间开始的通知后，可在任何基准不可用期间撤销任何期限基准借款、转换为或继续发放、转换或继续定期基准贷款的请求，或在每种情况下作出或转换为基准利率贷款的任何RFR借款或转换为RFR贷款的请求，否则，借款人将被视为已将任何此类请求转换为借款请求或转换为基本利率贷款。在基准不可用期间或在当时基准的基期不是可用的基期的任何时间，基于当时基准的基本利率的组成部分或该基准的该基期(视情况而定)将不会用于任何基本利率的确定。第二条
(a)
承诺和借款
(b)
第2.01节
(c)
定期贷款
(d)
定期贷款承诺
(e)
初始定期贷款可以是基本利率贷款或定期基准贷款，如本文进一步规定的那样。已偿还或已预付的初始期限贷款不得再借入。
(f)
(g)
表现出
第1号修正案)各自同意在第1号修正案生效日向借款人提供以美元计价的初始定期贷款，本金金额等于该贷款人的第1号修正案定期贷款承诺。
只有在符合修正案第2号所列条件的情况下，每一拥有修正案第2号定期贷款承诺(定义见修正案2)的修正案第2号贷款人分别同意在修正案2生效日期向借款人提供以美元计值的初始定期贷款，本金金额与该贷款人的修正案2定期贷款承诺相同。初始定期贷款可以是基本利率贷款或定期基准贷款，如本文进一步规定的那样。已偿还或已预付的初始期限贷款不得再借入。
(h)
仅在符合第4号修正案所列条件的情况下，每一拥有2024年再融资定期贷款承诺的第4号修正案贷款人各自同意在第4号修正案生效日向借款人提供2024年以美元计价的再融资定期贷款，本金金额等于该贷款人的2024年再融资定期贷款承诺。
(i)
定期贷款的借款机制
(j)
每一次定期贷款的借款应在借款人向行政代理发出不可撤销的通知后进行，该通知只能以书面形式发出。行政代理必须在不迟于(A)下午1：00之前收到上述通知。(纽约市时间)在任何定期基准贷款借款请求日期之前3个工作日(或行政代理全权酌情同意的较晚时间)和(B)下午1：00。(纽约市时间)任何基本利率贷款借款请求日期之前的1个营业日(或行政代理自行决定的较晚时间)；
(k)
提供
(l)
该等通知可以截止日期的发生为条件，或就递增定期贷款而言，可以预期与该等递增定期贷款有关而发生的任何交易为条件；
(m)
如果进一步提供
(n)
，有关在截止日期借入初步定期贷款的通知，可于截止日期前1个营业日中午12：00(纽约市时间)前送达。
(o)
借款人根据第2.01(B)节发出的每份通知必须以承诺贷款通知的形式交付给行政代理，并由借款人的一名负责官员适当填写和签署。每笔定期贷款的本金不得低于2500,000美元。如果借款人未在承诺贷款通知中指明期限贷款类型，则适用的期限贷款应作为期限基准贷款。如果借款人在任何此类承诺贷款通知中请求借用定期基准贷款，但没有指明利息期限，则借款人将被视为已指明1个月的利息期限。
(p)
一种以上类型的借款可能同时未偿还；
(q)
然而，
在借款人就这种借款发出承诺贷款通知之日，如果仍有未偿还的债务，则这种借款的收益应首先用于全额偿付任何此种偿还义务，其次用于如上所述的借款人。
任何贷款人未能将其将发放的循环贷款作为借款的一部分，并不免除任何其他贷款人在借款之日根据本协议承担的循环贷款义务(如有)，但贷款人不应对此负责。
(r)
表现出
(s)
任何其他贷款人在任何借款之日提供将由该其他贷款人提供的循环贷款。
(t)
循环贷款的处理
(u)
。即使有任何相反的规定，就本协定的所有目的而言，循环延期付款承付款和循环延期付款贷款应分别以与循环非延期付款承诺和循环非延期付款贷款相同的方式处理(本协定明确规定的范围除外)。
(v)
第2.03节
(w)
摇摆线贷款。
“摆动额度贷款。在符合本协议规定的条款和条件的情况下，循环额度贷款人根据第2.03节规定的循环贷款人的协议，同意在循环承诺期内的任何营业日不时向借款人发放循环额度贷款，本金总额在任何时候不得超过循环额度贷款金额；提供循环额度贷款实施后，(一)循环承诺额的使用总额不得超过循环承诺额，(二)任何循环贷款人的循环承诺额的总使用率，不得超过该贷款人的循环承诺额，(三)所有循环额度贷款的未偿还本金总额不得超过循环额度上限；
“提供进一步
“，不应要求摇摆线贷款人为未偿还的摇摆线贷款进行再融资。在上述限制范围内，借款人可以借入、预付和再借周转额度贷款，但须遵守本协议规定的条款和条件。在回旋贷款人发放回旋额度贷款后，每一循环贷款人应立即被视为并在此不可撤销地无条件地同意从该回旋额度贷款人购买该回旋额度贷款的参与额，其金额相当于该循环贷款人在该回旋额度贷款金额中的比例份额；提供
“为免生疑问，在循环非延期部分承付款的循环承诺终止日期，循环非延期部分贷款人对循环额度贷款的任何参与将根据每个循环延长部分贷款人在此类循环额度贷款金额中的比例自动重新分配给循环延长部分贷款人。摆动额度贷款的借款机制
“。每笔回旋额度贷款应在借款人向回旋额度贷款人和行政代理发出不可撤销的通知后进行。每份此类通知应以书面形式提交，并由借款人的一名负责官员适当填写和签署，并必须在下午2：00之前送达回旋贷款机构和行政代理。(纽约市时间)在申请的回旋额度贷款的日期(或行政代理可能自行决定的较后时间)，并且该通知应指明(I)借款金额，最少应为100,000美元，或超过25,000美元的整数倍，以及(Ii)此类回旋额度贷款借款的日期(应为营业日)。摆动授信机构收到通知后，应立即与行政代理机构确认行政代理机构也已收到该通知，如未收到，则通知行政代理机构其内容。除非摆动额度贷款机构在下午2：00之前收到行政代理的通知(包括应所需循环贷款机构的要求)。(纽约市时间)在请求的借款日期(A)指示放款人不得因第2.03(A)或(B)节第一句中规定的限制而发放此类放款，则在不满足第4.02节规定的一个或多个适用条件的情况下，放贷人应根据向放贷人提供(并合理接受)的指示，以电汇方式向借款人提供每笔放款。在该周转额度贷款的请求日期(该指示可包括可由借款人不时更新的常备付款指示，提供那就是，除非摇摆线贷款人表现出
(a)
应另行同意，任何此类更新应在紧接向摆线贷款人提供该更新之日后的第二个工作日生效)。
(i)
摇摆线贷款的再融资
摆动额度贷款人可在任何时候以其唯一和绝对的酌情权代表借款人(在此不可撤销地授权摆动额度贷款人代表其请求)，让每个循环贷款人发放一笔循环贷款，该循环贷款的金额等于该贷款人在当时未偿还的摆动额度贷款人发放的摆动额度贷款中按比例发放的基本利率贷款。
(ii)
退还的摇摆线贷款
(iii)
“)。此类申请应以书面形式提出(就本协议而言，书面申请应被视为周转贷款申请)，并应符合第2.02(B)节的要求(包括关于事先通知的要求)，不考虑第2.02(B)节规定的最小和倍数，但受未使用的循环承付款总额和第4.02节规定的条件的约束。回旋贷款机构应在将该通知送达行政代理后，立即向借款人提供该回旋贷款申请的副本。每一循环贷款人应在不迟于下午1：00在行政代理办公室向行政代理提供一笔相当于其在此类周转额度贷款申请中规定的金额的按比例份额的资金(行政代理可在适用的周转额度贷款中使用可用现金抵押品)，用于该周转额度贷款人的账户。根据第2.03(C)(Ii)条的规定，每家提供资金的循环贷款人应被视为已向借款人发放了该金额的循环贷款，即基准利率贷款。
(A)
如果由于任何原因，根据第2.03(C)(I)节的规定，任何循环额度贷款不能通过这样的循环贷款借款进行再融资，则此处所述的由该循环额度贷款人提交的作为基准利率贷款的循环贷款请求应被视为由该循环额度贷款人请求每个循环贷款人为其参与相关的循环额度贷款提供资金，并且每个循环贷款人根据第2.03(C)(I)节向行政代理支付的款项应被视为就此类参与支付款项。行政代理应将根据第(2)款提供资金的任何回旋额度贷款的任何参与情况通知借款人，此后有关此类回旋额度贷款的付款(在此类资金参与的范围内)应支付给行政代理，用于循环贷款人的利益，而不是支付给回旋额度贷款人。
(B)
如果任何循环贷款人未能在第2.03(C)(I)节规定的时间前，将根据本第2.03(C)节前述规定须由该循环贷款人支付的任何款项转给行政代理，则该循环贷款人有权应要求从该循环贷款人(通过行政代理)收回该金额及其利息，从要求付款之日起至该循环贷款人立即可获得该付款之日为止。
每年
(b)
等于不时生效的联邦基金利率和摇摆线贷款人根据银行业关于银行同业薪酬的规则确定的利率中的较大者，
(c)
加; 任何合理的行政、手续费或类似费用通常由摆动额度贷款人就上述规定收取。如果该循环贷款人支付该金额(连同上述利息和费用)，则该支付的金额应构成该贷款人的循环贷款，包括在相关的循环贷款借款或融资参与相关的循环额度贷款中(视情况而定)。向任何循环贷款人提交的摇摆线贷款人证书(通过表现出在没有明显错误的情况下，对于根据第(Iii)款欠下的任何金额，行政代理人)应是决定性的。每一循环贷款人根据第2.03(C)节的规定提供循环贷款或购买和资助参与循环贷款的义务应是绝对和无条件的，不受任何情况的影响，包括：(A)该贷款人可能因任何原因对该循环贷款人、借款人或任何其他人拥有的任何抵销、反索赔、补偿、抗辩或其他权利；(B)违约的发生或持续；或(C)任何其他事件、事件或条件，不论是否与上述任何情况相似；; 提供每个循环贷款人根据第2.03(C)节规定提供循环贷款的义务符合第4.02节规定的条件；提供进一步为免生疑问，第4.02节规定的条件不适用于根据第2.03(C)节购买或资助参赛者。任何此类参与资金不得解除或以其他方式损害借款人偿还回旋额度贷款的义务，以及本协议规定的利息。偿还贷款 在任何循环贷款人购买并为参与回旋额度贷款提供资金后的任何时候，如果该回旋额度贷款人因该回旋额度贷款而收到任何付款，该回旋额度贷款人将迅速将该循环贷款人在此类付款中的比例按比例汇给行政代理(在支付利息的情况下，适当调整，以反映该循环贷款人参与贷款的时间段)，该资金与该回旋额度贷款人收到的资金相同，行政代理收到的任何此类金额将由行政代理汇给根据第2.03(C)(Ii)节为其参与提供资金的循环贷款人，但以其在其中的权益为限。如果在第11.06节所述的任何情况下(包括根据由摆动贷款人以其合理的酌情决定权达成的任何和解协议)，要求摆动贷款人退还其就任何摆动贷款的本金或利息而收到的任何付款，则每个循环贷款人应应行政代理的要求，按比例向摆动贷款人支付其所占份额，
“加利息，由要求付款之日起至退还该笔款项之日止，按每年相当于不时生效的联邦基金利率。行政代理将应摆动额度贷款人的要求提出此类要求。循环贷款人在第(2)款项下的义务在全额偿付和本协议终止后继续有效。摆动额度贷款人的账户利息。摇摆线贷款人应负责向借款人开具由摇摆线贷款人发放的摇摆线贷款利息的发票。在每个循环贷款人根据第2.03节为其基本利率贷款或参与提供资金，以按比例再融资该贷款人在摆动额度贷款人发放的任何摆动额度贷款中所占份额之前，该额度贷款份额的利息应完全由摆动额度贷款人承担。
直接向摆动额度贷款人付款
。除非本合同另有明文规定，否则借款人应将所有与摆动额度贷款有关的本金和利息直接支付给摆动额度贷款人。表现出摇摆线贷款人的辞职和撤职。在提前60天书面通知行政代理、贷款人和借款人后，摆动额度贷款人可辞去摆动额度贷款人职务。可随时通过借款人、行政代理、被替换的摆动贷款机构之间的书面协议更换摆动额度贷款机构(提供如果被取代的摇摆线贷款人没有未偿还的摇摆线贷款，则不需要同意)和继任者摇摆线贷款人。行政代理应通知循环贷款人有关更换摆动额度贷款机构的任何此类情况。在任何该等替代或辞呈生效时，(I)借款人应预付由辞职或被撤职的摇摆线贷款人作出的任何未偿还的摆动线贷款，(Ii)在预付款项后，辞职或被撤职的摆动线贷款人应将其持有的任何摆动线票据交回借款人注销，及(Iii)如继任的摆动线贷款人提出要求，借款人应向继任的摆动线贷款人发出新的摆动线票据，金额为当时有效的摆动线再抵押本金，并加上其他适当的注明。自任何该等更换或辞职生效日期起及之后，(X)任何接任的摆动贷款机构在本协议项下，就其后发放的摆动贷款而言，应享有该协议项下的所有权利及义务，及(Y)本协议中提及的“摆动贷款机构”一词，应视作指该等继任或任何先前的摆动贷款机构，或该等继任及所有以前的摆动贷款机构，视乎上下文所需而定。第2.04节
“签发信用证和购买信用证的参与权信用证承诺
“在符合本协议所列条款和条件的情况下，(A)各开证行根据第2.04节规定的循环贷款人的协议，(1)在适用于该开证行(或其关联公司，构成本条款下的循环贷款人)在信用证到期之日或之前的循环承诺期内的任何营业日，不时同意为借款人或受限制附属公司的账户签发信用证(提供
“提供
“在下列情况下，开证行无义务开具、增加或延长任何信用证的到期日：(1)循环承付款的总使用量将超过循环承付款，(2)任何循环贷款人的循环承付款的总使用量将超过该贷款人的循环承付款，(3)信用证使用量将超过信用证升华金额，或(4)开证行就信用证开具的信用证使用量将超过开证行信用证金额占信用证升华金额的百分比。在上述限制范围内，在本协议条款和条件的约束下，借款人获得信用证的能力应完全循环，因此，在上述期间，借款人可以获得信用证，以取代已过期或已被提取并偿还的信用证。在下列情况下，开证行不承担开立任何信用证的义务：
“任何政府当局或仲裁员的任何命令、判决或法令，其条款应旨在禁止或限制该开证行开具该信用证、适用于该开证行的任何法律或任何具有管辖权的政府当局发出的任何请求或指示(不论是否具有法律效力)。表现出
“开证行应禁止或要求开证行不开立一般信用证或特别是此类信用证，或对开证行施加在截止日期未生效的任何限制、准备金或资本要求(开证行不因此而获得补偿)，或对开证行施加在截止日期未生效且开证行真诚地认为对其有重要影响的任何未偿还的损失、费用或费用(开证行在本合同下不对其进行其他补偿)；
“除非行政代理和开证行另有约定，该信用证的初始金额低于10,000美元；此类信用证应以美元、英镑、欧元或其他替代货币以外的货币计价；
“提供
“该信用证包含在任何提款后自动恢复金额的任何规定；以及任何循环贷款人此时均为违约贷款人，除非该开证行已作出安排，包括根据第2.20(A)(Iii)条按比例重新分配该贷款人在未偿信用证债务中的份额，或交付现金抵押品，
“在下列情况下，开证行无义务修改或延长任何信用证：(A)开证行在此时没有义务根据本合同条款开立经修改的信用证，或(B)该信用证的受益人不接受对信用证的拟议修改。每份备用信用证应在(A)信用证签发之日后12个月(或就任何自动延期信用证而言，为该信用证当前到期日后12个月之日)和(B)信用证融资到期之日(除非已达成交付现金抵押品或其他合理地令开证行满意的信贷支持的安排)当日或之前于营业时间结束前失效。
“信用证的签发和修改程序；自动延期信用证每份信用证应根据借款人的要求，以信用证申请书的形式提交给适用的开证行(副本送交行政代理)，并按具体情况予以签发或修改。
表现出
“由借款人的一名负责人签署。此类信用证申请必须在下午2：00之前由适用的开证行和行政代理收到。(纽约时间)(1)在建议的签发日期或修改日期(视属何情况而定)之前，(1)以美元开立的信用证至少3个工作日或(2)以任何其他货币开立的信用证至少5个工作日(或在每种情况下，适用开证行和行政代理在特定情况下以其合理酌情决定权在特定情况下商定的较短期限)。在要求开立信用证的情况下，信用证申请书应以令开证行合理满意的格式和细节规定：(A)所要求信用证的建议签发日期(应为营业日)；(B)信用证金额；(C)信用证的到期日；(D)受益人的名称和地址；(E)受益人在开出信用证时应出示的单据；(F)受益人在开出信用证时应出示的任何证书的全文；(G)所要求的信用证将以何种货币计价(必须是美元、英镑、欧元或其他替代货币)；及(H)适用开证行可能合理要求的其他事项。如果要求修改任何未完成的信用证，信用证申请书应在格式和细节上合理地使开证行满意：(1)拟修改的信用证；(2)拟修改的日期(应为营业日)；(3)拟修改的性质。此外，借款人应向适用开证行和行政代理提供适用开证行或行政代理可能合理要求的与所要求的信用证签发或修改有关的其他文件和信息，包括任何信用证文件。行政代理收到借款人根据第2.04(B)(I)款提出的信用证申请书副本后，应向相关开证行确认根据本合同条款是否允许所要求的签发或修改，然后，在符合本合同规定的条款和条件的情况下，开证行应在所要求的日期开立一份由借款人开立的信用证或根据具体情况进行相应的修改。提供为免生疑问，在循环非延期付款承付款终止之日，循环非延期付款贷款人对信用证的任何参与将根据每个循环延期付款贷款人在信用证金额中所占比例自动重新分配给循环延期付款贷款人。
“如果借款人在任何适用信用证申请中提出备用信用证申请，则适用开证行可在其合理酌情权下同意开立一份具有自动延期条款的备用信用证(每份、一份、一份)。自动展期信用证
“提供任何此类自动延期信用证应允许开证行在每12个月期间(自该信用证签发之日起)至少一次，提前通知受益人不迟于一天(“
“不延期通知日期“)在信用证签发时商定的每个12个月的期限内。除非适用的开证行另有指示，否则借款人无需向该开证行提出任何此类延期的具体请求。一旦签发了自动延期信用证，循环贷款人应被视为已授权(但可以不要求)
“表现出适用开证行允许在任何时候将信用证延期至不迟于信用证融资到期日期的到期日；
“提供然而，
，任何循环贷款人或借款人不符合第4.02节规定的一个或多个适用条件，并在每一种情况下指示适用的开证行不允许这种延期。
“在向通知行或其受益人交付任何信用证或对信用证的任何修改后，适用开证行还应立即向借款人和行政代理交付该信用证或修改的真实、完整的副本。抽奖和报销；参赛经费
“在从受益人处收到符合信用证规定的任何信用证后，适用的开证行应通知借款人及其行政代理，该开证行应在收到信用证后的合理时间内审查所有据称代表该信用证项下付款要求的单据。(X)如果开证行在上午10：00之前通知借款人该开证行根据信用证支付的任何款项。(纽约时间)在付款之日，借款人应在收到通知后的下一个营业日内，(Y)如果在上午10：00之前没有向借款人提供通知，则应向开证行偿还相当于上述提款金额的金额。(纽约市时间)，则借款人应在收到该通知后的第二个营业日结束前向开证行偿还一笔相当于该笔提款金额的款项，而该期限的延长应反映在该信用证的计算费用中。如果借款人未能在该时间之前向开证行偿付，开证行应立即通知行政代理，行政代理此后应立即将付款日期、未偿还提款的金额(如果是替代货币，则以美元表示)(偿还义务
“在这种情况下，(X)对于以美元和欧元计价的偿还义务，借款人应被视为已请求(1)以美元为单位的基本利率贷款的循环贷款借款，或(2)以欧元为单位的定期基准贷款的循环贷款借款，其利息期限为1个月；(Y)对于以英镑计价的偿还义务，借款人应被视为已申请了RFR贷款的循环贷款借款，以及(Z)如果偿还债务以另一种货币(英镑或欧元以外)(但以其美元金额表示)计价，借款人应被视为已请求以美元计价的定期基准贷款的循环贷款借款，每种情况下的利息期限均为1个月，在该付款日支付的金额相当于(A)该偿还债务的美元金额加
“(B)如属以任何其他货币(英镑或欧元除外)(但以其美元金额表示)的任何偿还债务，则另加相等于兑换所需款额的款额表现出
(a)
将美元兑换成未偿还提款的货币，不考虑第2.02(B)节规定的适用类型贷款本金金额的最小和倍数，但受第4.02节规定的未使用循环承付款总额和第4.02节规定的条件(交付已承诺贷款通知除外)的限制。开证行或行政代理根据第(I)款发出的任何通知应以书面形式发出。
(b)
每一循环贷款人(包括作为开证行的每一循环贷款人)应根据第2.04(C)(I)节的任何通知，在不迟于下午3：00之前在行政代理办公室向适用开证行的账户提供美元资金(行政代理可使用为此提供的现金抵押品)，金额相当于其在相关偿还义务中按比例分摊的金额。(纽约市时间)在行政代理在通知中指定的营业日，因此，在第2.04(C)(Iii)节的规定的规限下，如此提供资金的每个循环贷款人应被视为已提供循环贷款(A)对于以美元或欧元计价的信用证，即(1)对于美元，即(1)基本利率贷款的循环贷款，或(2)对于欧元，以欧元计价的定期基准贷款的循环贷款借款，其利息期限为1个月，(B)对于以英镑计价的信用证，这是一笔RFR贷款；。(C)对于以另一种货币(英镑或欧元以外)计价的信用证，这是一笔以美元计价的定期基准贷款，每笔贷款的利息期限均为1个月
(c)
加
(d)
在以任何替代货币(但以其美元金额表示)计价的任何偿还债务的情况下，相当于将美元兑换成未偿还提款所用货币所需的金额的额外金额。行政代理行应按照开证行向行政代理行提供的指示将收到的资金汇至适用开证行(该指示可包括常备付款指示，该指示可由该开证行不时更新，
(e)
提供
“除非行政代理另有同意，否则任何此类更新应在紧接向行政代理提供更新之日后的下一个营业日生效)。对于没有通过以下循环贷款借款完全再融资的任何偿还义务：(A)以美元或欧元计价的信用证的循环贷款借款，(1)美元的基本利率贷款的循环贷款借款，或(2)以欧元为单位的定期基准贷款的循环贷款借款，利息期限为1个月，(B)以英镑计价的信用证的RFR贷款，或(C)以另一种货币(英镑或欧元以外)计价的定期信用证的基准贷款，视情况而定，由于不能满足第4.02节规定的条件或任何其他原因，借款人应被视为已从适用的开证行借入了一笔未如此再融资的偿还义务金额的信用证
“加在任何以替代货币(但以其美元金额表示)计价的偿还债务的情况下，额外的金额等于将美元兑换成未偿还提款所用货币所需的金额。在这种情况下，每一循环贷款人按照第2.04(C)(I)节的规定向行政代理支付的款项应被视为就其参与此类信用证借款而支付的款项，并应构成该贷款人为履行其本节规定的参与义务而预付的信用证。
在每个循环贷款人为其循环贷款或信用证预付款提供资金以偿还适用开证行根据任何信用证提取的任何金额之前，该贷款人在该金额中按比例分摊的利息应完全由开证行承担。
表现出
“每一循环贷款人提供循环贷款或信用证垫款以偿还开证行根据本第2.04(C)款规定提取的金额的义务应是绝对和无条件的，不受任何情况的影响，包括：(A)贷款人可能因任何原因对开证行、借款人或任何其他人拥有的任何抵销、反索赔、补偿、抗辩或其他权利；(B)违约的发生或持续；或(C)任何其他事件、事件或条件，不论是否与上述任何情况相似；提供每一循环贷款人根据本款(C)项提供循环贷款的义务受第4.02节所述条件的约束。参与任何信用证的资金不应解除或以其他方式损害借款人向开证行偿还开证行根据该信用证支付的任何款项的义务，以及本合同规定的利息。如果任何循环贷款人未能在第2.04(C)(Ii)节规定的时间前，将根据本款(C)项前述规定须由该贷款人支付的任何款项转给适用开证行的行政代理行，则在不限制本协议其他规定的情况下，该开证行有权应要求向该贷款人(通过该行政代理行)收回该金额及其利息，该期间自要求付款之日起至该开证行立即可获得该付款之日为止。
(a)
每年
(b)
相当于不时生效的联邦基金利率和该开证银行根据银行业同业拆借规则确定的利率中的较大者，
(c)
加
(i)
开证行就上述规定通常收取的任何合理的行政费、加工费或类似费用。如果该贷款人支付该金额(连同上述利息和费用)，则该金额应构成该贷款人的循环贷款，包括在有关借款或就有关信用证借款(视属何情况而定)的信用证预付款内。适用的开证行向任何循环贷款人(通过行政代理)提交的关于本条第(Vi)款所规定的任何欠款的证书，在没有明显错误的情况下，应是决定性的。
(ii)
偿还贷款
“在适用开证行就其签发的任何信用证项下的任何提款支付款项，并根据第2.04(C)款从任何循环贷款人收到关于该项付款的信用证预付款后的任何时间，如果行政代理为该开证行的账户收到与相关偿付义务有关的任何付款，或在以替代货币(但以其美元金额表示)的情况下，收到相当于将美元兑换成未偿还提款的货币所需金额的额外金额，或在每种情况下，在支付利息(无论是直接来自借款人或其他方面，包括行政代理对其应用的现金抵押品的收益)后，行政代理将按比例将其份额(如果是利息支付，以反映该贷款人的信用证预付款未偿还的时间段)按比例分配给该贷款人，与行政代理收到的资金相同。如果行政代理根据第2.04(C)(I)节为适用开证行的账户收到的任何付款在第11.06节所述的任何情况下(包括根据该开证行酌情达成的任何和解协议)被要求退还，各循环贷款人应应行政代理的要求，向该开证行的账户按比例支付其份额，
“加利息，由该要求付款之日起计，至下列日期为止
“表现出这样的贷款人以一定的利率
“每年相当于不时生效的联邦基金利率。循环贷款人在第(2)款项下的义务在全额偿付和本协议终止后继续有效。
绝对债务
“。借款人应绝对、无条件和不可撤销地偿还开证行在每份信用证项下的每一张提款和偿还每一份信用证借款的义务，并应严格按照本协议的条款在任何情况下付款，包括下列情况：此类信用证或其任何条款或条款、任何贷款文件或与之相关的任何其他协议或文书缺乏有效性或可执行性；
“借款人可能在任何时候针对该信用证的任何受益人或任何受让人(或任何该受益人或任何该受让人可能代其行事的任何人)、开证行或任何其他人提出的任何索赔、反索赔、抵销、抗辩或其他权利的存在，无论是与本协议、本协议、本信用证或与之有关的任何协议或文书所拟进行的交易，还是与此无关的交易；根据该信用证提交的任何汇票、付款要求、证书或其他单据证明在任何方面是伪造的、欺诈性的、无效的或不充分的，或其中的任何陈述在任何方面都是不真实或不准确的；或为根据该信用证开具支票所需的任何单据在传输或其他方面的任何遗失或延迟；
“开证行在提交不符合该信用证条款的单据时根据该信用证支付的任何款项；或开证行根据该信用证向任何声称是破产受托人、占有债务人、债权人利益的受让人、清算人、该信用证的任何受益人或任何受让人的其他代表或继承人支付的任何款项，包括与根据任何债务人救济法进行的任何诉讼有关的任何款项；对借款人对该信用证的全部或任何义务的任何抵押品的交换、解除或不完善，或对任何担保的任何免除、修改、放弃或同意背离；或
“任何其他情况或发生的任何事情，不论是否与上述任何情况相似，包括可能构成借款人的抗辩或解除责任的任何其他情况；提供
“前述规定不得免除开证行对借款人造成的任何直接损害(而不是后果性损害，借款人在适用法律允许的范围内放弃索赔)对借款人的责任，这些损害是由于开证行的重大疏忽、恶意或故意不当行为造成的，开证行在确定信用证下提交的汇票和其他单据是否符合信用证条款时，做出了不可上诉的最终判决。发钞银行的角色
“。每一循环贷款人和借款人都同意，在支付信用证项下的任何提款时，开证行没有责任获得任何单据(信用证明确要求的任何即期汇票、证书和单据除外)，也没有责任确定或查询任何单据的有效性或准确性或签约人的权威。表现出
“借款人特此承担任何受益人或受让人因其使用任何信用证而有遗漏行为的所有风险；提供
“这一假设不是有意也不应阻止借款人在法律上或任何其他协议下对受益人或受让人享有的权利和补救。开证行及其任何与代理有关的人，或开证行的任何代理行、参与者或受让人，均不对第2.04(E)节所述的任何事项负责或负责。为进一步说明但不限于上述规定，适用开证行可以接受表面上看是正确的单据，不承担进一步调查的责任，而不考虑任何相反的通知或信息，开证行不对转让或转让或声称转让或转让信用证或信用证下的权利或利益或收益的任何票据的有效性或充分性负责，该票据可能因任何原因而全部或部分被证明无效或无效。开证行可以通过环球银行间金融电信协会(SWIFT)的报文或隔夜快递，或任何其他商业上合理的与受益人的沟通方式，向受益人发送信用证或进行任何与受益人的沟通。网络服务提供商的适用性
“。除非适用的开证行和借款人在开具备用信用证时另有明确约定，否则国际银行法与惯例协会发布的《1998年国际备用信用证惯例》规则(或在签发时生效的较新版本)应列明适用于该备用信用证。与信用证申请冲突
“。如果本协议的条款与任何信用证申请的条款有任何冲突，以本协议的条款为准。报道。适用开证行应每月(或按行政代理行和适用开证行商定的其他时间间隔)向行政代理行提供其签发的信用证的明细表，其形式和内容应合理地令行政代理行满意，注明每份信用证的签发日期和当月未付金额、到期日和任何未付信用证的编号，并显示借款人在该月向开证行支付的总金额(如有)。现有信用证
“。为免生疑问，本协议项下的开证行(或其指定人)在履行本协议时同意继续担任开证行，并列于附表2.04(每份、一份、一份或多份)中，为借款人或任何受限制附属公司的账户开立的、根据现有的第一留置权信贷协议开立的、在截止日期仍未结清的、为借款人或任何受限制附属公司账户开立的信用证。现有信用证
““)应在结算日由适用的开证行在本协议项下自动延续，在结算日，循环贷款人应获得或继续持有其中的参与权，为免生疑问，就本协议而言，每份该等现有信用证在结算日应为信用证，借款人不再采取任何行动。开证行的辞职和撤职
“。任何开证行在提前60天书面通知行政代理行、循环贷款人和借款人后，均可辞去开证行职务。任何开证行可随时通过借款人、行政代理、被替换的开证行之间的书面协议(提供
“不需要同意，如果表现出
(a)
被替换的开证行没有未偿还的信用证或偿付义务)和继任开证行。行政代理应将开证行的任何此类更换通知循环贷款人。在任何此类替代或辞职生效时，借款人应支付被替代开证行账户的所有未付费用。从任何此类替换或辞职生效之日起及之后，(I)任何继任开证行应具有本协定项下开证行关于此后签发的信用证的所有权利和义务，以及(Ii)本协议中提及的“开证行”一词应视为指该继任开证行或以前的开证行，或根据上下文需要，指该开证行和所有开证行。在本协议项下开证行被替换或辞职后，被替换或辞职的开证行在其签发的信用证仍未结清的范围内，仍应是本协议的当事一方，并应继续拥有开证行在被替换或辞职之前签发的信用证在本协议项下的所有权利和义务，但不应要求其出具额外的信用证。现金抵押品账户。在违约事件发生后和持续期间的任何时间，行政代理可在所需的循环贷款人的指示或同意下，要求借款人向行政代理交付相当于所有信用证在任何未清偿时间的规定总金额的101%的现金(无论任何信用证下的受益人是否已在该信用证下提取或有权提取)，该现金将由行政代理在现金抵押品账户中持有。借款人特此为开证行和循环贷款人的利益向行政代理授予现金抵押品账户的留置权和担保权益以及不时持有的所有金额，作为信用证使用的担保，并在发生信用证义务时适用于借款人的信用证义务。行政代理人对该账户拥有专有的支配权和控制权，包括专有的提款权。除投资于现金等价物的任何利息外，现金抵押品账户中的金额不应计入利息，应在借款人的指示下进行投资(除非违约事件已经发生并仍在继续，在这种情况下，投资应由行政代理选择并酌情决定)。此类投资的利息和利润(如有)应计入该账户。如果适用开证行在任何时间根据任何信用证提款并随后付款，且在现金抵押品账户中持有任何金额，行政代理将向开证行交付一笔金额，相当于因该付款而产生的偿还义务(或，如果所持金额少于该偿还义务，则向该开证行支付所有此类金额)，以偿还该开证行。在所有信用证到期后，现金抵押品账户中的任何剩余金额，且没有待定提款和各开证行对其所有义务的全额偿还，应由行政代理人为借款人的利益而持有，并按行政代理人指示的顺序和方式用来抵销债务。如果借款人根据第2.04节(L)被要求提供现金抵押品，应应要求将该金额(不适用于上述范围)退还给借款人，提供
在退还后，(A)当时循环承付款项的总使用率不会超过当时的循环承付款项总额，以及(B)在当时不会发生或继续发生任何违约事件。
增加开证行。借款人选择的一个或多个同意以这种身份行事并为行政代理人合理接受的循环贷款人(违约贷款人除外)，可根据借款人、行政代理人和该循环贷款人之间以行政代理人合理满意的形式和实质达成的书面协议，成为本合同项下的额外开证行。行政代理应通知循环贷款人任何此类额外开证行。表现出第2.05节转换/延续每次从一种类型的贷款转换为另一种类型的贷款，每次延续一种类型的贷款，以及每次为RFR借款选择一个新的付息日期，应在借款人向行政代理发出不可撤销的通知后进行，该通知只能以书面形式发出，提供
(b)
不得将以替代货币计价的贷款转换为本协议中不适用于该替代货币的贷款类型。每个此类通知必须以书面形式发出，并且必须在下午1：00之前由管理代理收到。借款人根据第2.05(A)条发出的每份通知必须以转换/延续通知的形式提交给行政代理，并由借款人的一名负责官员适当填写和签署。每一次转换为RFR贷款的本金应不低于500,000 GB，或超过100,000 GB的整数倍(或此类贷款的全部本金)。每一次转换为基本利率贷款的本金金额应为500,000美元，或超过100,000美元的整数倍(或该贷款的全部本金)。以替代货币(英镑和欧元除外)计价的每笔贷款的转换或延续，应在该货币成为替代货币时与适用类别的适当贷款人商定的最低金额。根据前一句话的任何此类自动转换或延续，应自当时有效的利息期的最后一天起对适用的期限基准贷款或以替代货币(英镑以外)计价的贷款有效。如果借款人在任何该等转换/延续通知中要求转换为或延续定期基准贷款或以其他货币(英镑除外)计价的贷款，但没有指明利息期限，则该通知将被视为已指明1个月的利息期限。如果没有就任何RFR借款指定付息日期，借款人应被视为选择了1个月的付息日期。在收到转换/延续通知后，行政代理应迅速通知每一适用贷款人其在适用贷款类别中的按比例份额，如果借款人没有及时通知转换或延续，行政代理应将第2.05(A)节所述的任何自动转换为基本利率贷款或继续贷款的细节通知每一贷款人。表现出本节不适用于不能转换或延续的周转额度贷款。
第2.06节可用性。除非行政代理在任何借款日期之前收到贷款人的通知，表示该贷款人将不会按比例向行政代理提供该贷款人在该借款中的份额，否则该行政代理可假定该贷款人在该借款日期已按比例向该行政代理提供该份额，行政代理可根据这一假设，在该日期向借款人提供相应的金额。如果行政代理应已如此提供资金，则在贷款人不应向行政代理提供该部分的范围内，贷款人和借款人各自同意应要求立即向行政代理偿还相应的金额及其利息，自向借款人提供该金额之日起至向行政代理偿还该金额之日止的每一天：(A)就借款人而言，为当时适用于构成此种借款的贷款的利率；(B)就贷款人而言，为隔夜利率加行政代理根据前述规定通常收取的任何行政费用、处理费用或类似费用。在没有明显错误的情况下，行政代理提交给任何贷款人的关于第2.06节所规定的任何欠款的证明应是决定性的。如果借款人和贷款人应向行政代理支付相同或重叠期间的利息，行政代理应立即将借款人在该期间支付的利息金额汇给借款人。如果贷款人将其在适用借款中的份额支付给行政代理，则如此支付的金额应构成该贷款人的适用贷款，包括在借款中。借款人的任何付款不应损害借款人对贷款人未能向行政代理支付此类款项的任何索赔。
“第2.07节提前还款
“任选借款人在收到借款人以预付通知形式向行政代理发出的通知后，可随时或随时自愿预付任何类别的全部或部分贷款，而无需支付溢价或罚款，但须遵守以下(E)条款；
“提供 即：
“该预付款通知必须在下午1：00之前由行政代理(1)收到。(纽约市时间)在提前偿还定期基准贷款、RFR贷款或以替代货币计价的贷款的任何日期前3个工作日，(2)不迟于下午1：00(纽约市时间)在提前偿还基本利率贷款的任何日期前1个工作日和(3)不迟于下午1：00(纽约市时间)提前偿还摆动额度贷款的日期；(X)以美元计价的任何定期基准贷款(1)的本金金额应为500,000美元，或超过100,000美元的整数倍，如果低于，则为当时未偿还的全部本金，或(2)以欧元计价的贷款的本金应为500,000欧元，或超过100,000欧元的整数倍，如果低于50,000欧元，则为未偿还的全部本金；(Y)RFR贷款的本金金额应为500,000 GB，或超过100,000 GB的整数倍，或，如果低于100,000，当时未偿还的全部本金和(Z)基本利率贷款的本金金额应为500,000美元，或超过100,000美元的整数倍，如果低于500,000美元，则为当时未偿还的全部本金(或在每种情况下，由行政代理全权酌情商定的较晚时间)；
“表现出任何以替代货币(英镑和欧元除外)计价的贷款的任何预付款，应在该货币成为替代货币时与适用类别的适当贷款人商定的最低金额，如果低于该金额，则为当时未偿还的全部本金；
“在原循环到期日之前，根据本款规定的循环贷款的任何自愿预付款应按比例适用于循环延期分期付款贷款和循环非延期分期付款贷款(为免生疑问，在原循环到期日支付未偿还的循环延期分期付款贷款金额除外)；任何提前还款
“首字母2024年再融资
“在《修正案》生效后6个月前发放的定期贷款。生效日期应与支付第2.11(G)节所述的费用(如果适用)相伴随。
每份预付款通知应指明预付款的日期和金额，以及要预付的贷款的币种、类别和类型(S)，并且在不违反下文第2.07(A)(Ii)节的情况下，每份预付款通知中规定的付款金额应在通知中指定的日期到期并支付。行政代理将立即通知每个适当的贷款人其收到预付款通知，并告知该贷款人在预付款中按比例分摊的金额。任何提前还款应遵守第2.07(C)节的规定。
“根据本协议允许的定期贷款的自愿提前还款，应按照借款人在适用的提前还款通知中的指示使用(如果没有该指示，则直接按到期顺序用于剩余的预定本金分期付款)。
“即使在任何贷款文件中有任何相反的规定(包括第2.15节)，(A)借款人可以提前偿还任何贷款人的未偿还定期贷款-按比例计算
“仅在征得贷款人同意的基础上或低于面值，以及(B)借款人可以提前偿还低于面值的一个或多个类别的定期贷款-按比例计算根据表m中规定的拍卖程序。强制性
“超额现金流。根据第6.01(A)节，自提交截至2024年12月31日的财政年度的财务报表开始，借款人应在财务报表已经交付或根据第9.01(C)节规定必须交付(实施任何治疗期)后5个工作日内，根据第2.07(B)(Vi)条和第2.07(B)(Vii)条的规定，预付不少于以下金额的定期贷款本金总额(该金额为
“所需的ECF预付款金额“)，该数额如小于零，应当作为零：
“(A)该等财务报表所涵盖的财政年度超额现金流量中适用的ECF预付百分比，减号
“表现出(B)以下各项的总和，而不重复，所有自愿预付定期贷款和任何其他同等连带债务(包括通过债务回购(包括低于面值的等额已偿还债务本金的回购)的债务)；所有自愿支付的循环贷款和任何其他循环贷款，在每一种情况下，只要伴随着相应的永久性承诺减少，应计或以现金支付的资本支出、资本化软件支出或知识产权收购的金额，以及在此期间未支出的任何其他现金支出的金额，
“借款人和受限制子公司的债务本金(包括资本化租赁债券)的合计减少额，不包括上文第(1)或(2)款所述的任何付款，就借款人和受限制附属公司的任何收购价格扣留、赚取债务、长期负债(任何债务除外)支付的现金，
“允许投资的金额(不包括公司间投资以及现金和现金等价物的投资)，根据第7.06条(第(A)、(B)、(D)、(Q)(Ii)或(O)条除外)实际以现金支付的限制性付款的金额(但就第(O)条而言，仅限于最初根据第7.06(A)、(B)、(D)或(Q)(Ii)条宣布的此类限制性付款的范围)；
与任何债务本金的预付有关而实际以现金支付的任何保费、全额或罚款的总额，
(I)借款人或任何受限制的附属公司根据有约束力的合同、承诺或有约束力的采购订单(“
“合同对价“)在该期间之前或期间订立；及(Ii)借款人或任何受限制附属公司计划或编入预算的任何现金支出(”
“计划支出“)在上述第(I)款和第(Ii)款中，与许可收购或其他投资、资本支出、资本化软件支出或知识产权收购有关；
“提供在任何期间，实际用于资助此类允许收购或其他投资、资本支出、资本化软件支出或知识产权收购的总金额少于第(9)款所包括的前几个期间的金额，则该差额应从该交易完成或终止时根据第(9)款计算的金额中扣除，
“表现出已支付的现金税额(包括罚金和利息)、已支付的税金分配或预留或应付的税金或税额分配准备金(无重复)，超过在计算该期间综合净收入时扣除的税费金额；以及
“在借款人选择时，以下款所述的全部或任何部分信用证；减号
“(C)相当于以下两者中较大者的10%的数额：(1)截止日期EBITDA和(2)TTM合并调整后EBITDA，按适用确定日期的形式计算；在每一种情况下，(I)(X)借款人或其受限制子公司在适用的财政年度内或在借款人选择时，在该财政年度结束后和该预付款日期之前支付的范围，或(Y)在合同对价和计划支出的情况下，打算在紧接计算所需ECF预付款金额的财政年度之后的财政年度内支付的范围；
“提供如果当选，则在该财政年度结束后发生或产生的任何数额，在以后财政年度的计算中不得计入贷方，以及(2)这种预付款不是用融资债务的收益(循环贷款除外)提供资金的；
“提供在任何财政年度，如上文(B)项所列款额超过上文(A)项所述款额，则该款额可根据第(B)(11)款在未来期间用作贷项；
“提供进一步
“如在作出任何该等预付款时，借款人须按照管理该等债务的文件的条款，偿还或回购或要约回购或偿还部分超额现金流(须予偿还或回购或被提出如此偿还或回购的等额留置权债务)，其他适用ECF债务
“)，则借款人可将所需的ECF预付款额
按比例
“对于提前偿还定期贷款和偿还或回购其他适用ECF债务的基准，以及在如此适用于此类其他适用ECF债务的范围内，根据本第2.07(B)(I)节要求的定期贷款的预付额应相应减少(为本但书的目的按比例
“基准应根据当时定期贷款的未偿还本金总额和其他适用的ECF债务确定)；双方同意，分配给其他适用的ECF债务的所需ECF预付款额的部分，不得超过根据其条款要求分配给其他适用的ECF债务的所需ECF预付金额的金额，而该等净收益的剩余金额(如有)应根据本协议的条款分配给定期贷款，并且(Iii)(X)如果在任何财政年度，上文(C)款所述的金额超过上文(A)款所述的金额，则应将该等净收益的剩余金额分配给定期贷款减号
“(Y)任何根据上文(C)款在未来财政年度可动用的款项，可在当时适用的财政年度使用(但须相应扣除该未来财政年度的可动用款项)。资产出售；伤亡事件
“如果借款人或任何受限制附属公司根据一般资产出售篮子处置任何抵押品，或发生与任何抵押品有关的任何伤亡事件，
“表现出在任何一种情况下导致借款人或该受限制附属公司变现或收到现金净收益，借款人应在变现或收到该现金净收益之日后10个工作日或之前预付相当于如此变现或收到的现金净收益的100%的定期贷款本金总额(该金额为
“要求的资产销售预付款金额提供
“如在需要预付任何该等款项时，借款人须根据管理该等债务的文件的条款，偿还或回购或要约回购或偿还同等留置权债务(该等同等留置权债务须予偿还或购回，或被提出予以偿还或购回)，其他适用的资产出售负债
““)，则借款人可将所需的资产出售预付款额用于按比例
“在此基础上(根据当时定期贷款和其他适用的资产出售债务的未偿还本金总额确定)，该现金收益净额的剩余部分用于偿还或回购其他适用的资产出售债务，对于所需的资产出售预付款金额，在如此适用于该等其他适用的资产出售债务的范围内，根据第2.07(B)(Ii)节的其他规定本应要求的定期贷款的预付额应相应减少；提供
“进一步根据第2.07(B)(Ii)条，借款人应在该日或之前向行政代理书面通知其根据第2.07(B)(Ii)条进行再投资的意向，则不需要根据第2.07(B)(Ii)条就所需资产出售预付款金额中的部分进行预付款。仅为确定符合第2.07(B)(Ii)节强制性预付款要求的现金收益净额，(I)每笔交易或一系列相关交易或任何意外事故的现金收益净额应被视为零，除非(I)在不执行本条款的情况下的金额超过25,000,000美元，和(Ii)在每个会计年度，就第2.07(B)(Ii)节而言，借款人及其受限制附属公司不应被视为已变现或收到任何现金收益净额，除非且直至受第2.07(B)(Ii)节约束的所有处置和意外事故的现金收益净额在执行上述第(I)款后超过35,000,000美元，此后，仅超过此数的部分将构成借款人及其受限制附属公司为第2.07(B)(Ii)节所实现和收到的现金收益净额；
“提供(X)根据第(Ii)款在任何财政年度内任何未使用的款项可结转至下一个财政年度，及(Y)根据第(Ii)款在未来财政年度可动用的任何款项可用于当时适用的财政年度(须相应扣除该未来财政年度的可动用款项)。
“对于与任何处置或意外事故相关的所需资产出售预付款金额，借款人可根据借款人的选择(代替根据上述规定进行预付款)选择(I)(直接或通过其一家或多家受限制子公司间接)将相当于该所需资产出售预付款金额的全部或任何部分再投资于借款人和受限制子公司的业务所使用或有用的资产(包括将该金额用于营运资金资产、资本支出、准许投资、(1)在收到该数额后12个月内，或(2)借款人或任何受限制附属公司在收到该数额后12个月内，或(2)如借款人或任何受限制附属公司在收到该数额后12个月内，至迟于该12个月期限结束后180天内作出再投资承诺，则须支付与准许投资有关的债务或债务；提供
“根据第2.07(B)(Vi)节和第2.07(B)(Vii)节的规定，如果在适用的再投资选择通知送达后的任何时间，该金额的任何部分不再打算进行或不能再进行再投资，则该金额应被视为构成借款人或该受限制附属公司在合理日期新收到的现金收益净额表现出
确定该金额不再打算用于或不能用于再投资，(Ii)将该现金收益净额用于永久偿还任何非贷款方的债务，或(Iii)[预留]。
“负债。如果借款人或任何受限附属公司因借入的资金产生或发行根据第7.03节不允许发生的债务，借款人应在收到现金净收益后5个工作日或之前预付相当于从其收到的所有现金净收益的100%的定期贷款本金总额。
“循环贷款偿还。借款人应不时提前还款
“第一、摇摆线贷款，以及
“第二循环贷款，在必要的范围内，使循环承付款的总使用率在任何时候均不得超过当时有效的循环承付款；
“提供如第2.04节(L)中更详细地描述的那样，如果该超额金额大于紧接申请该预付款之前未偿还的周转额度贷款和循环贷款的本金总额，则该预付金额应由行政代理保留并存放在现金抵押品账户中，作为信用证使用的担保，因此，此类现金应被视为减少了信用证的总使用金额。
“[保留付款的运用
“。(A)除非证明适用定期贷款的适用贷款文件另有规定，否则根据第2.07(B)(I)、(Ii)或(Iii)节规定的每笔定期贷款预付款，应按比例(或以与设立相关定期贷款类别有关的较低金额)适用于当时有权分享该强制性预付款的每一类未偿还定期贷款；(B)就同一类别的定期贷款而言，每笔预付款均依照第(I)、(Ii)、或(Iii)第2.07(B)节的规定应按照借款人在适用的提前还款通知中的指示使用(如果没有该指示，应直接按到期顺序用于本金的剩余预定分期付款)和(C)根据第(I)至(Iv)条对同一类别贷款的每笔预付款应按照贷款人各自按比例支付的预付款份额支付给贷款人。外国和税务方面的考虑
“。尽管本第2.07(B)节有任何其他规定，任何或全部净现金收益来自外国子公司的任何处置(a“”
“对外处置“)或因外国子公司遭遇的任何伤亡事件(A)
“外国伤亡事件“)，在每种情况下，根据第2.07(B)(Ii)款导致预付款事件，或可归因于外国子公司的超额现金流量部分被适用的当地法律禁止或推迟汇回美国，受影响的现金收益净额或超额现金流量部分将不需要在第2.07(B)节规定的时间用于偿还定期贷款，但可由适用的外国子公司保留(借款人在此同意促使适用的外国子公司尽其商业上的合理努力，迅速采取适用当地法律合理要求的所有行动，以允许此类汇回)，并且如果在适用的预付款事件发生后12个月内，受影响的任何此类现金收益净额或超额现金流量的汇回是适用的当地法律允许的，这种汇回将立即生效，并将迅速(无论如何不迟于汇回后10个工作日)应用该汇回的现金净额或超额现金流量(净额
表现出
因此而应付或预留的额外税项，包括与此相关的税项分配)，以偿还本第2.07(B)节规定范围内的定期贷款，以及
(a)
如果借款人真诚地确定，将任何外国处置或任何外国意外事故的任何或全部现金净收益汇回美国，或将可归因于外国子公司或FSHCO的任何或全部超额现金流量汇回美国，将对Holdings(或Holdings的任何母公司，如果该重大不利税收后果与其在Holdings或借款人及其受限制子公司的股权的所有权有关)、借款人或任何受限制子公司(相对于相关的境外处置)产生重大不利税收后果。对于该等净现金收益或超额现金流量，受影响的净现金收益或超额现金流量可由适用的外国子公司或FSHCO保留。
(b)
强制提前还款程序；拒绝还款的贷款人
(c)
。借款人应根据第2.07(B)(I)、(Ii)或(Iii)条的规定，在贷款到期前4个工作日向行政代理发出强制预付贷款的通知。该通知应说明借款人提出在或将在第2.07(B)(I)、(Ii)或(Iii)节(视属何情况而定)规定的日期之前支付或将支付该强制性预付款。
“提前还款日“)。该通知一经发出，即不可撤销，且受该通知约束的所有金额应在预付款日到期并支付(除非第2.07(B)(Vii)节和第2.07(B)(Viii)节最后一句另有规定)。行政代理收到通知后，应立即将预付款事件、预付款日期以及该贷款人在预付款中的比例份额通知每个适当的贷款人。每一贷款人可选择(以其唯一及绝对酌情决定权)拒绝按比例支付任何强制性预付款项(第2.07(B)(Iii)或(Iv)条所规定的任何强制性预付款项除外)的全部(但不少于全部)份额，方法是在上午11：00前以书面通知行政代理。(纽约市时间)，在贷款人收到行政代理关于该预付款的通知之日起2个工作日或之前。如果贷款人未能在上述规定的时间范围内向行政代理递交拒绝按比例收取该强制性预付款的选举通知，则任何此类失败将被视为接受该贷款人在该强制性预付定期贷款总额中的按比例份额。任何贷款人拒绝支付的任何金额应由借款人在要求的范围内用于强制预付次级留置权债务，如果持有人拒绝支付，该减少的金额可由借款人及其受限制的子公司保留。
“利息、资金损失等。本第2.07节规定的所有预付款(基本利率贷款的预付除外)应附有其所有应计利息，如果是在利息期限最后一天之前的一天预付EURIBO利率贷款，则还应附有根据第3.05节就该EURIBO利率贷款所欠的任何金额。
“预付款额的运用。根据第2.07(B)节的规定，每笔付款或预付款应按比例在持有预付贷款的每一类贷款人之间按比例分配，并应在条款中适用
“表现出
“利息期延期。尽管第2.07节的任何其他规定另有规定，只要没有违约事件发生并继续发生，如果第2.07节规定的任何定期基准贷款需要在其利息期限的最后一天之前预付，借款人可以在该期限基准贷款的利息期限的最后一天之前，代替按照本第2.07条款就任何该等期限基准贷款支付任何款项，
“计算不准确。如果根据第6.01节、第6.02节交付的任何财务报表或证书或根据第2.07(B)节交付的任何通知被确定为不准确(在终止条件满足之前的某个时间)，并且这种不准确如果得到纠正，将导致(A)更高的强制性预付款金额(包括由于适用更高的适用ECF预付款百分比)，则(I)借款人应在确定后立即(无论如何在5个工作日内)向行政代理提交正确的财务报表、证书和通知，如适用，且(Ii)借款人应在提交经更正的财务报表、证书或通知后迅速(无论如何在15个工作日内)向行政代理支付额外的强制性预付款金额，并且在该15个工作日期限届满前不应被视为已就该等欠款发生违约或违约事件，或(B)较低的强制性预付款(包括由于适用较低的适用ECF预付款百分比)，则(I)借款人应在确定后立即(无论如何在5个工作日内)向行政代理交付正确的财务报表、证书和通知，及(Ii)该等多付款项将用于减少根据第2.07(B)节规定须在未来期间支付的任何强制性预付款的金额。
第2.08节
终止或减少承付款
“任选。借款人在书面通知行政代理后，可以终止任何类别的未使用承诺，或不时永久减少任何类别的未使用承诺，在每种情况下均不收取溢价或罚款；
“提供(I)任何此等通知应于终止或减税日期前1个营业日送达行政代理，(Ii)任何此等减税总额为1,000,000美元，或超出1,000,000美元的任何整数倍，或如少于1,000,000美元，则为全部金额；及(Iii)借款人不得终止或减少(A)表现出循环承付款在按照第2.07节规定同时预付循环贷款后，如果循环承付款的总使用量将超过循环承付款总额，或(B)信用证在生效后，(1)任何此类信用证的最高面值的101%的信用证使用量未全额以现金抵押，将超过信用证的升华金额；或(2)对于任何此类信用证的最高面值的101%，未全额现金抵押的适用开证行就信用证开具的信用证使用量将超过开证行的信用证金额占信用证总面值的101%。尽管有上述规定，借款人可以撤销或推迟任何终止承诺的通知，如果终止承诺是由于对适用贷款的全部或部分进行再融资造成的，则不应完成再融资或以其他方式推迟。
“强制性(A)每个贷款人根据第2.01节发放其初始定期贷款时，其初始定期贷款承诺应自动和永久地减至0美元 和)每家贷款人的2024年再融资定期贷款承诺应在该贷款人根据第2.01条和(C)款发放2024年再融资定期贷款时自动和永久地减少到0美元)循环承付款应在适用于此类循环承付款的终止日期终止。如果在第2.08款规定的循环承付款的任何减少或终止生效后，信用证升华或周转额度升华超过当时的循环承诺额，信用证升华或周转额度升华(视具体情况而定)应自动减去超出部分的金额。终止或减少的影响.
“。任何类别承诺的任何终止或减少都应是永久性的。第2.09节
“偿还贷款在各方面符合第2.07(A)(Iii)节和第2.07(B)(Vi)节的规定下，借款人应在每个财政季度的最后一个营业日(从第一个营业日开始)向行政代理偿还适当贷款人的应课差饷账户
“全部截至修正案编号后的财政季度
“生效日期)本金总额相当于首字母
“2024年再融资 Term
“贷款贷款
借款人借入(或被视为借入)
生效日期及(Ii)
“首字母2024年再融资
“借入的定期贷款。生效日期，所有
“首字母2024年再融资
“在该日未偿还的定期贷款。此外，关于本金金额的任何减少首字母
“2024年再融资根据本协议允许的非按比例发放的定期贷款，包括根据第2.07(A)(Iv)、2.07(B)(Viii)节、第3.07节、第11.07节(L)或根据附件m进行的荷兰拍卖，上述摊销总额应减去，以计入此类非按比例预付款。
“借款人应在循环承付款终止日向行政代理偿还适用的循环承付款项下就此类循环承付款提供的循环贷款本金。为免生疑问，在原来的循环到期日，所有于该日未偿还的循环非延期贷款，均须于该日期及延期当日全数清还。表现出
“在循环到期日，所有在该日未偿还的循环延期部分贷款应在该日全额偿付。借款人应在下列较早发生的日期(I)发放此类回旋额度贷款后15天和(Ii)循环延期承付款的循环承诺终止日期向回旋额度贷款人偿还每笔回旋额度贷款(或在第2.03(C)节要求的范围内，偿还给循环贷款人账户上的行政代理)；
“提供在发放循环贷款的每一天，借款人应偿还当时所有未偿还的周转额度贷款。在任何时候，如果存在违约的循环贷款人，借款人应应摆动额度贷款人的要求，立即偿还由摆动额度贷款人发放的未偿还的摆动额度贷款，偿还的金额足以消除与摆动额度贷款有关的任何前期风险。
“第2.10节兴趣
“除第2.10(B)节的规定以及在以替代货币计价的贷款在该货币成为替代货币时与适用类别的贷款人商定的规定外，(I)每笔定期基准贷款应按一定的利率计入每期未偿还本金的利息每年相当于该利息期的适用期限基准加
“适用利率，(Ii)每笔RFR贷款应按以下利率计息：每年
“相当于每日简单RFR加
适用利率，(Iii)每笔基本利率贷款应从适用的借款日期起按一定的利率计息
每年
“等于基本利率加
“适用利率和(Iv)每笔周转额度贷款应从适用的借款日起按一定的利率计息每年
“等于基本利率加
“ 适用费率。如果任何一笔贷款的本金在到期时没有得到偿付，无论是在规定的到期日，还是通过加速或其他方式，该逾期金额此后应按浮动利率计息。
“每年在适用法律允许的最大范围内，始终等于违约率。
“《泰晤士报》
“(B)在所有信用证项下可提取的每日平均最高金额(无论在任何确定日期的营业时间结束时是否能够满足和确定任何提取条件，以及如果最高金额根据信用证的条款定期增加，则该最高金额当时是否在该信用证项下有效)。第2.11(B)节所指的所有费用应在行政代理办公室支付给行政代理，行政代理在收到后应立即按比例将其份额分配给每个贷款人。
借款人同意为自己的账户直接向适用的开证行支付下列费用：由借款人和适用的开证行商定并不时通知行政代理的预付费用(不超过0.125%每年
《泰晤士报》
“表现出上述第2.11(C)节规定的任何以美元或其他货币计价的信用证的每笔费用均应以美元支付。
“第2.11(B)节和第2.11(C)节提到的所有费用应在循环承诺期内每年每个财政季度的最后一个营业日、从截止日期后结束的第一个完整财政季度开始的最后一个营业日和适用的循环承付款终止日期每季度支付一次。[保留]。
“借款人同意按照代理费函中有关规定另行约定的金额和时间，自行向行政代理方支付应付的行政费。在任何重新定价事件生效时，该重新定价事件在修正案编号开始的期间内完成。
“生效日期至紧接修订编号6个月后的日期的前一天。生效日期，借款人同意向行政代理支付每个贷款人的应课差饷账户首字母2024年再融资因此类重新定价事件而偿还、转换或降价的定期贷款(包括每一家拒绝同意此类重新定价事件并根据第3.07节被替换为非同意贷款人的贷款人)，相当于(I)在其定义(A)款所述的重新定价事件的情况下，所有
“首字母2024年再融资与该重新定价事件相关而预付(或转换)的定期贷款，以及(Ii)在其定义(B)款所述的重新定价事件的情况下，所有首字母2024年再融资
在该日期未偿还的定期贷款，将根据该重新定价事件进行有效的定价下调。这些费用应在重新定价事件生效之日赚取、到期和支付。
第2.12节
“利息及费用的计算。所有基本利率贷款的利息计算应以一年365天或366天(视属何情况而定)和实际过去的天数为基础。以替代货币计价的贷款的所有利息计算应按照适用于以该替代货币计价的贷款的惯例进行。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)。每笔贷款在贷款之日应计利息，而贷款或其任何部分不得在支付该贷款或其任何部分之日应计利息；
“提供根据第2.10(A)节的规定，在贷款当天偿还的任何贷款应计入一天的利息。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。
(a)
第2.13节负债的证据根据第11.07(C)节中的登记册，每个贷款人保存的账户或记录应为表面证据，证明贷款人向借款人借款的金额及其利息和付款没有明显错误。然而，任何没有如此记录或这样做的任何错误，不应限制或以其他方式影响借款人在本合同项下支付与债务有关的任何欠款的义务。如果任何贷款人所保存的账户和记录与登记册中的条目有任何冲突，则在没有明显错误的情况下，应以登记册中的条目为准。表现出每家贷款人可在其票据上附上附表，并在其票据上注明其贷款的日期、类型(如适用)、金额和期限以及与之相关的付款。
(b)
第2.14节一般付款方式借款人应无条件地支付任何反索赔、抗辩、补偿或抵销款项。(纽约市时间)在此指定的日期。增量设施。
递增期限便利以及根据该条款发放的定期贷款，增量定期贷款“)或(二)增加循环承诺总额或在贷款文件下增加一个或多个循环贷款安排类别(”增量式循环设施
“以及循环贷款和根据其提供的其他信贷扩展，增量循环贷款
“增量设施
“以及据此提供的贷款或其他信贷扩展，增量贷款
“)。借款人和/或一家或多家受限制子公司作为额外借款人或共同借款人可能产生递增贷款；
提供
“，非附属担保人的任何额外借款人或共同借款人应在该事件发生后90天内(或行政代理人以其合理酌情决定权同意的较长期限内)成为附属担保人；提供
“进一步该等额外借款人或共同借款人应向行政代理及提供此类递增贷款的贷款人提供惯常的KYC文件，并在该等额外借款人或共同借款人符合《受益所有权条例》下的“法人客户”资格的范围内，向行政代理及贷款人提供受益所有权证明。
“排名。增量设施(I)可以
“平价通行证或具有支付权的较低级别的
“首字母2024年再融资
“定期贷款和循环承诺；(2)可以是无担保债务，也可以是同等留置权债务、次级留置权债务或其他担保债务；提供
“如果此类递增贷款构成次级留置权债务，则代表此类次级留置权债务的行政代理人应作为“第二优先权代表”(或类似称谓)成为次级留置权债权人间协议的一方。大小和货币
“。在截止日期之后的任何时间可能发生的增量融资本金总额，连同因依赖第7.03(G)节规定的固定增量金额而产生的增量等值债务和债务本金总额，不得超过相当于，固定增量，
加
“比率增量金额(固定增量金额与比例增量金额之和，
“增量金额表现出
“每项递增贷款将是1,000,000美元的整数倍，本金总额不少于5,000,000美元(或(X)如果以替代货币计价，则为以该替代货币计价的相同数额(例如，1,000,000欧元代替1,000,000美元)或(Y)行政代理以其合理酌情权核准的较低最低数额)；提供
“如果该数额代表当时增量数额下的所有剩余可用，则该数额可以小于该最小数额或整数倍数额。递增贷款可以以美元或由借款人和提供这种递增贷款的人确定的替代货币计价。增量贷款方
“。增量贷款可由一个或多个现有贷款人(不言而喻，没有任何现有贷款人有义务作出任何增量贷款或就任何增量贷款作出承诺)和/或由一个或多个额外贷款人提供。现有贷款人没有任何权利参与任何增量贷款的任何辛迪加，也没有任何优先购买权或提供任何增量贷款的任何部分的其他权利。为免生疑问，任何提供任何增量贷款的关联贷款人应遵守第11.07(H)节对关联贷款人的限制(包括关联贷款人定期贷款上限和关联贷款人循环上限，视情况而定)。增量修正；收益的使用
“。每项增量融资将根据一项修正案(每项、一项或多项)生效递增修正案
““)由借款人、任何额外借款人(如有)、任何共同借款人(如有)以及提供此类递增贷款并经行政代理确认的每个人签署本协议；提供
“条件
“。本协议项下的增量融资仅受下列条件限制，为免生疑问，在增量修订生效之日(或根据借款人的选择，无论是否因有限条件交易而产生，在与其有关的承诺首次生效之日起)，第1.08(F)节予以衡量：不会发生任何特定的违约事件，也不会因此而继续发生或将导致违约；以及
第V条或任何其他贷款文件中所包含的借款人和其他贷款方的陈述和担保，在适用的增量修正案生效之日及截止之日，在所有重要方面均应真实无误；
“提供在该等陈述和保证特别提及较早日期的范围内，该等陈述和保证在截至该较早日期时在各重要方面均属真实和正确；提供进一步
“提供此类递增设施的人可以免除或不要求第(Ii)款中规定的条件，如果与有限条件交易相关的递增设施将产生，为免生疑问，在任何情况下，交易均受第1.08(F)节的约束。条款。提供
“ 即：任何增量定期贷款的最终到期日将不早于
“首字母2024年再融资
“定期贷款；表现出
“任何增量定期贷款的加权平均到期年限将不短于首字母
(a)
2024年再融资
(b)
定期贷款；
任何增量定期贷款都可以参与按比例基数或小于
“按比例 基础（但不大于
“按比例基数)到
“首字母2024年再融资
“第2.07(B)节规定的任何强制性提前还款中的定期贷款；(A)在担保范围内，此类增量定期融资或增量循环融资可通过对贷款方或受限制附属公司的任何财产或资产的留置权来担保，以及(B)此类增量定期融资或增量循环融资可由借款人的任何受限制子公司担保，该子公司在事件发生后90天内(或行政代理以其合理酌情决定同意的较长期限内)成为附属担保人或成为附属担保人；
提供
(X)属于其他担保债务的任何增量定期融资和增量循环融资的本金总额，(Y)不属于其他担保债务的许可比率债务、已发生的收购债务和增量等值债务，以及(Z)第7.03(J)节规定的其他债务的本金总额不得超过非贷款方债务上限；以及
任何增量循环贷款的到期日不会早于适用于当时未偿还循环贷款的最晚到期日。任何增量循环贷款在构成循环承付款增加的范围内，应与循环贷款的契约条款相同。
定价。任何增量贷款的利率、费用、原始发行折扣、预付保费承诺费和资助费将由借款人和提供此类增量贷款的人员确定
(a)
提供
(b)
(i)如果在截止日期后的头十二(12)个月内发生的任何增量定期贷款的适用利差超过初始定期贷款的适用利率(按当时的有效定价水平)超过50个基点，则初始定期贷款的适用利率应在必要的程度上提高，使该等初始定期贷款的适用利率等于该等增量定期贷款的利差
(ii)
减号
(iii)
50个基点。
(iv)
对循环贷款的调整
(c)
。根据本第2.16节的规定，循环承付款每增加一次，
(d)
(e)
增量循环设施收件箱
“)，且每个此类增量循环贷款机构将自动且无需进一步行动即被视为已承担此类循环贷款机构在未偿还信用证项下的部分参与，使得在实施每项此类被视为转让和参与的假设后，每个循环贷款机构持有的信用证项下未偿还参与总额的百分比将等于该循环贷款机构的循环承诺所代表的所有贷款人的循环承诺总额的百分比；以及
表现出根据第3.05节规定，预付循环贷款的利息以及循环贷款人发生的任何费用。行政代理和贷款人在此同意最低借款，按比例
(i)
借款和
(ii)
按比例
(iii)
本协议其他部分包含的付款要求不适用于根据第2.16条进行的交易。
(iv)
第2.17节
(f)
再融资修正案
(g)
再融资贷款/承诺
(h)
。在截止日期之后的任何时间，借款人可通过再融资贷款或根据再融资修正案作出的再融资承诺的形式，从任何贷款人或任何额外贷款人那里获得关于全部或任何部分贷款或承诺的信贷协议再融资债务。再融资修正案。任何再融资修正案的效力只取决于在其生效之日满足适用的再融资贷款或再融资承诺的提供者可能要求的条件。每项再融资修正案将在借款人签署后生效，每个人提供此类再融资承诺或再融资贷款，并经行政代理确认；
(i)
提供
行政代理不承认该再融资修正案不应影响该再融资修正案的效力。
(j)
再融资贷款提供者
。再融资贷款和再融资修订可由任何现有贷款人提供(应理解，任何现有贷款人没有义务作出任何再融资贷款或再融资承诺的全部或任何部分)或由任何额外贷款人提供(受第11.07(H)条的约束)。
第2.18节延长贷款期限
扩展提供
。根据一个或多个要约(每个、一个或多个延期优惠借款人向持有某一特定类别的贷款和/或承诺的所有贷款人不时作出的)，借款人可以延长该类别的到期日，并根据延期要约(每个、一个或多个)中规定的条款修改此类贷款和/或承诺的条款延拓
“)。每一延期要约将具体说明可接受延期要约的贷款和/或承诺的最低金额，其中(W)对于以美元计价的贷款或承诺，将是500,000美元的整数倍，(X)对于以欧元计价的贷款或承诺，将是不少于5,000,000美元的本金总额的整数倍，(Y)对于以英镑计价的贷款或承诺，将是GB 500,000的整数倍，且以替代货币(英镑或欧元除外)计价的贷款或承诺的本金总额不低于GB 5,000,000或(Z)，将是在该货币成为替代货币时与适用类别的适当贷款人商定的最低金额，或在每种情况下，(I)未偿还贷款的本金总额，或(Ii)行政代理批准的较低的最低金额，不得无理扣留、附加条件或拖延。延期优惠将在
按比例
向持有特定类别贷款和/或承诺的所有贷款人提供基准。如果贷款人已接受延期要约的此类贷款的未偿还本金总额(按其面值计算)和/或承诺超过根据该延期要约提出延期的贷款和/或承诺的最高本金总额，则除非借款人以其唯一和绝对的酌情权增加该最高金额，否则此类贷款人的贷款和/或承诺将根据各自的本金金额按比例延长至该最高金额(但不得超过实际金额)。
表现出
记录的持有量)，这些贷款人已经接受了这种延期要约。没有要求任何延期要约或延期修正案(定义如下)受任何“最惠国”定价条款的约束。延期要约的条款应由借款人决定，延期要约可包含一个或多个有效条件，包括提供最低数额的贷款和/或任何或所有适用部分的承诺的条件。延期修正案
。任何延期将根据一项修正案(每次、一项或多项)生效
延期修正案“)本协议由借款人、每个扩展贷款人签署并经行政代理确认；
提供
行政代理不承认该延期修正案不应影响该延期修正案的效力。除非延期要约另有规定，否则延期修正案的效力不受任何条件限制。就本协议而言，延期不构成自愿或强制付款或预付款。
延期要约条款和延期修正案
。任何延期贷款和/或延期承诺的条款将在适用的延期要约中列明，并由借款人和接受这种延期要约的延期贷款人商定；.
(a)
提供 即：该等延期承诺的最终到期日将不早于适用于受该延期要约规限的承诺的最迟到期日，而该等延展贷款的最终到期日将不早于(X)受该延期要约规限的定期贷款的最迟到期日及(Y)首字母, 2024年再融资定期贷款；
(b)
任何属定期贷款的延期贷款的加权平均到期日将不短于(X)受该延期要约规限的定期贷款的剩余加权平均年限及(Y)首字母2024年再融资定期贷款；以及任何属于定期贷款的延期贷款都可以参与按比例基数或小于
(c)
按比例 基础（但不大于a 按比例根据第2.07(B)节的任何强制性预付款)。任何延期贷款或延期承诺将构成与不接受适用延期要约的贷款人持有的定期贷款或循环贷款不同的一类定期贷款或循环承诺；
提供
此类延期贷款或延期承诺可与本合同项下的任何其他贷款或承诺构成同一类别，前提是其条款满足“类别”定义中规定的要求。延长循环承付款项”); 。如属循环承付款项和/或循环贷款的任何延期，应适用下列规定：循环贷款的所有借款和所有预付款应继续在所有循环贷款人之间根据其循环承付款的相对数额按比例进行，直至在有关到期日偿还可归因于未延长的循环承付款的循环贷款；对于同意展期的任何开证行或周转额度贷款人，在该展期部分的循环承诺额和剩余未展期的循环承诺额之间，对任何当时存在的或随后签发或作出的信用证或周转额度贷款的参与风险的分配表现出承付款应按照其相对数额按比率作出，直至与此类非延期循环承付款有关的到期日为止；, 除非终止或偿还(和相应减少)延长的循环承付款(和相应的减少)，否则不得允许终止延长的循环承付款和偿还延长的循环贷款并相应永久减少延长的循环承付款按比例终止或永久偿还(以及相应的按比例
(d)
循环贷款和循环承付款(或循环承付款和循环贷款的其他各部分应以其他方式终止并全额偿还)；
(e)
未经各开证行和周转额度贷款人事先书面同意，不得延长信用证或周转额度贷款项下可用循环承付款的到期日；
在任何时候，循环承付款项的不同部分不得超过5次。
如果由于任何一期循环承付款出现到期日而导致循环承付款的总使用量超过循环承付款，而有一笔延长的循环承付款仍未结清，借款人应支付必要的款项，以便在该到期日消除超出的部分。所需的异议”).
(f)
。第2.18条规定的交易(为免生疑问，包括按照相关延期要约中规定的条款支付任何延期贷款的任何利息、费用或溢价)不需要行政代理、任何贷款人(适用的延期贷款人除外)或任何其他人的同意，以及本协议或任何其他贷款文件中可能禁止任何此类延期或本第2.18条所设想的任何其他交易的任何条款的要求(在适用的范围内，包括第2.07条的规定，第2.08节或第2.15节)不适用于根据第2.18节进行的任何交易。第2.19节经批准的债务交换即使本协议中有任何相反规定，根据一项或多项要约(每个、一个或多个)允许债务交换要约
“)借款人不时向所有贷款人(但就构成证券发售的任何允许债务交换要约而言，任何贷款人如借款人提出要求，不能证明其是(I)”合格机构买家“(如证券法第144A条所界定)、(Ii)机构”认可投资者“(如证券法第501条所界定)或(Iii)非”美国人“(按证券法第902条所界定)拥有特定类别未偿还定期贷款的任何贷款人除外，借款人可不时完成一笔或多笔定期贷款，以换取债务(以同等留置权债务、次级留置权债务、其他有担保债务或无担保债务的形式)和/或股权(该等债务和/或股权，
许可债务交易所证券每一次这样的交换，一次许可债务交换“)，只要满足下列条件：表现出“美国人”(根据《证券法》第902条的定义)或(Y)任何贷款人，如果借款人提出要求，不能根据其各自在每个此类类别下未偿还定期贷款的本金总额，证明其能够获得与此类许可债务交换相关的每一适用类别的许可债务交换证券；
(g)
该等许可债务交换证券的本金总额(如属合资格股权，则在计算时不计算在内)的原始本金总额(或增值，如适用)不大于交换定期贷款的本金(或增值，如适用)。
(h)
加(I)就交换的定期贷款而须支付的所有未付利息、累积利息或资本化利息、罚款、保费(包括投标保费)及其他款额的款额；及。(Ii)就该等准许债务交易所证券而须支付的承销折扣、费用、佣金、成本、开支及其他款额(包括所有原有发行折扣的款额)；。; (I)构成负债的该等核准债务交易所证券的加权平均到期日等于或长于(X)被交换定期贷款的剩余加权平均到期日及(Y)首字母
2024年再融资
定期贷款及(Ii)构成债务的该等许可债务交易所证券的最终到期日不得早于(X)被交换的定期贷款的最终到期日及(Y).
首字母
(a)
2024年再融资定期贷款；构成同等留置权债务(X)的任何允许债务交换证券的任何强制性预付款，应按比例或低于按比例支付，以及第2.07(B)节(但不大于按比例)和(Y)节规定的任何相应的强制性预付款，构成次级留置权债务或无担保债务，除非在本条例要求的范围内，首先支付或提出此类偿还，以预付
(b)
首字母
2024年再融资
定期贷款和其他同等留置权债务；.
构成债务的任何贷款方或受限制子公司不得产生或担保构成债务的任何借款方或受限制子公司，但作为交换定期贷款的义务人的贷款方或受限制子公司除外，且除该债务人以外的任何其他贷款方或受限制子公司均不对此类债务承担责任，除非同时根据本协议或根据第7.03节获得许可；以及如该等构成债务的准许债务交换证券以贷款方的资产留置权作抵押，除非第7.01条另有规定，否则此类债务不得以贷款方的任何资产上的留置权作为担保，而根据贷款文件，贷款方的任何资产不受或将被要求受制于构成同等留置权债务或次级留置权债务的留置权(但以下情况除外)：(1)以代理人、信用证发行人或类似的“前置”或资产为基础的贷款人为受益人的惯常现金抵押品；(2)仅适用于最后到期日之后的期间的财产或资产的留置权首字母2024年再融资
发生时的定期贷款，(3)对财产或资产的任何留置权，只要该财产或资产也包括在内
“)完成任何该等准许债务交换，即接受任何或所有适用类别的定期贷款的最高金额(将由借款人酌情决定于相关准许债务交换要约中厘定及指明)。.
对于每个允许的债务交换，(I)借款人应向行政代理提供至少5个工作日(或行政代理可能同意的较短期限)的事先书面通知；
提供
未能发出此类通知不应影响根据本第2.19节完成的任何允许债务交换的有效性，以及(Ii)债务代表应与行政代理协商，合理行事，建立必要或适宜的程序，以实现本第2.19节的目的；
提供
任何准许债务交换要约的条款须规定，有关贷款人须表明其选择参与该项准许债务交换的日期，不得早于作出准许债务交换要约日期后的5个营业日。借款人应不迟于该许可债务交换的建议生效日期(或行政代理同意的较短期限)前3个工作日将该许可债务交换的最终结果提供给行政代理，行政代理有权最终依赖该结果。.
借款人应负责遵守并在此同意遵守与每个允许的债务交换相关的所有适用的证券和其他法律，有一项理解和同意，即(I)行政代理或任何贷款人都不承担与借款人遵守与任何允许的债务交换相关的法律相关的任何责任，以及(Ii)每个贷款人对其遵守根据《交易法》可能受到该贷款人约束的任何适用的“内幕交易”法律和法规承担全部责任。
本第2.19条规定的交易(为免生疑问，包括按照相关允许债务交换要约中规定的条款支付与任何允许债务交换有关的任何利息、费用或溢价)不需要任何其他贷款人或任何其他人的同意，以及本协议或任何其他贷款文件中可能禁止任何此类允许债务交换或本第2.19条规定的任何其他交易的要求(在适用的范围内，包括第2.07条的规定，第2.08节或第2.15节)不适用于根据第2.19节进行的任何交易。
第2.20节.
(a)
违约贷款人违约贷款人调整
(b)
. 尽管本协议中包含任何相反规定，如果任何分包商成为违约分包商，则在适用法律允许的范围内，直到该分包商不再是违约分包商：违约贷款人瀑布
(c)
。行政代理根据本协议为违约贷款人的账户收到的本金、利息、手续费或其他款项(无论是自愿的还是强制性的，在到期时，根据第IX条或其他规定)，或行政代理根据第11.09条从违约贷款人收到的任何本金、利息、手续费或其他款项，应在行政代理决定的一个或多个时间使用，具体如下：表现出
第一
，支付该违约贷款人欠本合同项下行政代理的任何款项；
(d)
第二，用于按比例支付该违约贷款人欠各开证行和本合同项下的回转额度贷款人的任何款项；
(e)
三，根据第2.20(D)节的规定，将每家开证行和周转额度贷款人对该违约贷款人的未偿还信用证(金额相当于该违约贷款人的101%)的提前风险进行抵押；
第四
第五
，如果行政代理和借款人确定，将保存在现金抵押品账户中并释放.
(a)
按比例.
(i)
为了(A)履行违约贷款人对本协议项下贷款的潜在未来融资义务，以及(B)根据第2.20(D)节的规定，将各开证行对违约贷款人未来根据本协议签发的信用证或周转额度贷款的未来预付风险(金额相当于此类未来预付风险的101%)进行抵押；
(ii)
第六
任何贷款人、任何开证行或摆动额度贷款人因违约贷款人违反其在本协议项下的义务而获得的具有管辖权的法院对该违约贷款人作出的任何判决而应支付给贷款人、开证行或回旋额度贷款人的任何款项；
第七
(iii)
只要违约事件不会发生并继续发生，只要借款人因该违约贷款人违反其在本协议项下的义务而获得有管辖权的法院对该违约贷款人作出的任何判决而欠该借款人的任何款项的支付；以及
(iv)
第八
(b)
向违约贷款人或有司法管辖权的法院另有指示；.
(i)
提供如果(1)该付款是对该违约贷款人没有为其适当份额提供全部资金的任何贷款或偿还义务的本金的付款，并且(2)该等贷款或相关信用证是在第4.02节所列条件得到满足或被免除时发放的，则该付款应仅用于支付所有非违约贷款人的贷款和偿还义务。按比例在适用于偿付违约贷款人的任何贷款或偿还义务之前，贷款人应按照适用类别的所有贷款以及(如属循环贷款)有资金和无资金的参与信用证和周转额度贷款由贷款人根据适用的承诺按比例持有，而不执行第2.20(A)(Iii)节。向违约贷款人支付或应付的任何款项、预付款或其他金额，如根据第2.20(A)(I)条用于(或持有)偿付违约贷款人所欠金额或用于邮寄现金抵押品，应被视为已支付给违约贷款人并由其转寄，且各贷款人均不可撤销地同意本协议。某些费用
(ii)
任何违约贷款人在其作为违约贷款人的任何期间内，无权根据第2.11(B)条收取任何费用；
(iii)
提供
对于第2.11(B)节规定的、根据上文(A)款不需要向任何违约贷款人支付的任何费用，借款人应(1)向每个非违约贷款人支付任何此类费用的部分，否则应支付给该违约贷款人
表现出
(iv)
就该违约贷款人参与已根据下文第(Iii)款重新分配给该非违约贷款人的信用证或周转额度贷款而言，(2)向各开证行支付任何应付给该违约贷款人的任何此类费用的金额，以该开证行可分配给该违约贷款人的额度为限，以及(3)无需支付任何该等费用的剩余金额。
(v)
重新分配参与度以减少正面暴露
。以及(B)这种重新分配不会导致任何非违约贷款人的循环风险总额超过该非违约贷款人的循环承诺额。
现金抵押品.
(a)
。违约贷款人治愈。如果借款人、行政代理以及就任何有循环承诺的违约贷款人而言，摆动额度贷款人和每家开证行以书面形式同意贷款人不再是违约贷款人，则行政代理将通知双方当事人，自通知中规定的生效日期起，并受其中规定的任何条件(可能包括关于任何现金抵押品的安排)的约束，该贷款人将在适用的范围内，按面值购买其违约的其他贷款人的适用类别的未偿还贷款部分，或行政代理可能确定为必要的其他行动，以使贷款人根据产生适用的定期贷款的适用定期贷款承诺或循环承诺(如适用)按比例持有任何类别的贷款以及信用证和周转额度贷款中的有资金和无资金的参与部分(不影响以上(A)(Iii)条)，届时该贷款人将不再是违约贷款人；提供当借款人是违约贷款人时，借款人或其代表的应计费用或付款不会有追溯力调整； 提供进一步
(b)
，除非受影响各方另有明确约定，否则本合同项下从违约贷款人到贷款人的任何变更不构成放弃或免除任何一方因该贷款人是违约贷款人而产生的任何债权。.
(i)
新的周转额度贷款/信用证
。只要任何循环贷款人是违约贷款人，(A)除非其信纳任何周转额度贷款在生效后不会有提前风险，否则无须签发、延长或修改任何摆动额度贷款；及(B)除非开证行信纳其在信用证生效后不会有预先风险，否则无须签发、延长或修改任何信用证。
表现出
(ii)
现金抵押品。在存在违约贷款人且第2.20(A)(Iv)条适用的任何时候，借款人应在行政代理提出书面请求后的1个工作日内，将适用的开证行对该违约贷款人(在实施上述(A)(Iii)款和该违约贷款人提供的任何现金抵押品后确定)的预先风险进行现金抵押，金额不低于最低抵押品金额。, 抵押权益的授予。借款人，在任何违约贷款人提供的范围内，为开证行和循环贷款人(包括周转额度贷款人)的利益，特此授予行政代理，并同意维持所有此类现金抵押品的优先担保权益，作为违约贷款人为参与信用证和周转额度贷款提供资金的义务的担保，适用于下文第(Ii)款。如果行政代理人在任何时候确定现金抵押品受本协议规定的行政代理人、开证行或循环贷款人以外的任何人的任何权利或要求的约束，或者此类现金抵押品的总金额低于最低抵押品金额，借款人将应行政代理人的要求立即向行政代理人支付或提供足以消除此类不足的额外现金抵押品(在违约贷款人提供的任何现金抵押品生效后)。
(iii)
应用
。即使本协议中有任何相反规定，根据本条款第2.20节为信用证提供的现金抵押品的使用，应使违约贷款人在以此方式提供现金抵押品的任何其他财产运用之前，满足违约贷款人为参与信用证提供资金的义务(就违约贷款人提供的现金抵押品而言，包括因该义务应计的任何利息)。
终止要求
(c)
。在下列情况下，根据本第2.20节的规定，为减少任何开证行或摆动额度贷款人的预付风险而提供的现金抵押品(或其适当部分)不再需要作为现金抵押品持有：(A)消除适用的预付风险(包括通过终止适用贷款人的违约贷款人地位)或(B)行政代理、适用的开证行或周转额度贷款人(视情况而定)确定存在过剩的现金抵押品；提供
除第2.20节的其他规定另有规定外，提供现金抵押品的人和适用的开证行可同意持有现金抵押品以支持未来预期的预付风险或其他义务；
提供
(a)
进一步 如果该现金抵押品是由借款人提供的，该现金抵押品仍应受根据贷款文件授予的担保权益的约束。第2.21节货币等价物行政代理应在每个重估日确定以替代货币计价的每笔循环贷款的美元金额和以替代货币计价的信用证的信用证义务。每项此类决定均应以该日期的汇率为基础。, 如果在对美元金额的任何确定生效后，循环承付款的总使用率超过当时有效的循环承付款总额，借款人应在收到行政代理发出的合理详细说明该计算方法的通知后5个工作日内，预付循环贷款项下适用的循环贷款，或采取行政代理酌情指示的其他行动(包括兑现表现出以适用的信用证债务为抵押)，以消除任何此类超额部分。第2.22节
(b)
判断货币如果为了在任何法院获得判决，有必要将本合同项下一种货币的欠款兑换成另一种货币，双方当事人应尽最大可能有效地这样做，按照有关司法管辖区的正常银行程序，在紧接作出最终判决之日的前一个营业日，所使用的汇率应是可以用这种另一种货币购买第一种货币的汇率。借款人就应付本合同任何一方或本合同项下任何义务的任何持有人的任何款项所承担的义务(“适用债权人
“)，即使以货币(”)作出任何判决
判断货币
(c)
“）除本项下规定到期该笔款项的货币（“.
(i)
协议货币“)，只有在适用债权人收到被判定为以判定货币到期的任何款项后的营业日，适用债权人可按照相关司法管辖区的正常银行程序购买带有判定货币的协议货币；如果如此购买的协议货币的金额少于最初应支付给适用债权人的协议货币金额，借款人作为单独的债务同意赔偿适用债权人的此类损失，尽管有任何此类判决。本节所载借款人的债务在本协议终止和支付本协议项下所有其他欠款后继续有效。第三条
(ii)
税收、增加成本保护和违法行为
(iii)
第3.01节税费除法律另有规定外，借款人或任何担保人根据任何贷款文件向任何收款人或为收款人的账户支付的任何和所有款项均应免税和清偿，不得扣除或扣缴任何政府当局征收的任何和所有现在或未来的税、税、征费、附加费、预扣或类似费用，以及与此有关的所有责任(包括税收、罚款和利息的增加)(“税费“)。以下内容应为“
不含税
“：就借款人或任何其他贷款方的任何义务或因借款人或任何其他贷款方的任何义务而支付的任何款项的每一收款人而言，(I)对净收入征收或以净收益衡量的税(不论其面额如何，包括分行利润和类似税)，以及特许经营税或类似税，在每一种情况下，均由其组织所在的司法管辖区或其主要办事处所在的司法管辖区征收，或就其适用的借贷办事处所在的任何贷款人而言，(Ii)其他关联税，(Iii)对应支付给受款人或为受款人账户支付的金额征收的任何美国联邦预扣税，这些金额是根据在下列日期有效的法律对贷款或承诺中的适用权益征收的：(A)该受款人获得贷款或承诺中的该等权益，而不是根据借款人根据第3.07条提出的转让请求；或(B)该贷款人变更其放款办公室(借款人书面要求改变该放款办公室的情况除外)，但在每种情况下，与此类税收有关的金额应在紧接该接收者成为本协议一方之前支付给该接收者的转让人，或在紧接该接收者变更其贷款办公室之前支付给该贷款人；(Iv)因任何接收者未能遵守第3.01(B)、3.01(C)、3.01(D)和3.01(E)条的适用规定而征收的任何税款；(V)根据FATCA征收的任何税款；以及(Vi)第(I)至(V)款中上述金额的附加税、罚金和利息。如果任何扣缴义务人根据适用法律(根据适用扣缴义务人的善意酌情决定权确定)需要从根据任何贷款文件应支付给任何收款人的任何款项中扣除或扣缴任何税款(如上文所定义)，
(iv)
表现出(I)除不含税外，应付金额应按需要增加，以便在作出所有所需的扣除和扣缴(包括适用于根据第3.01(A)节应支付的额外金额的扣除和扣缴)后，适用的收款人收到的金额等于如果没有进行此类扣除或扣缴时应收到的金额，(Ii)适用的扣缴义务人应进行此类扣除和扣缴，(Iii)适用的扣缴义务人应将扣除或扣缴的全部金额支付给相关税务机关，以及(Iv)在借款人或担保人支付任何此类款项后，在切实可行的范围内尽快支付，借款人或适用的担保人应向该收款人提供证明其付款的收据的正本或复印件，只要借款人或适用的担保人已获得此类收据(或行政代理人合理满意的其他付款证据)。此外，如适用，每一收款人应在得知任何情况后立即通知贷款方，借款方因此或将被要求从本合同项下应支付的任何款项中扣除或扣留任何款项。在法律上可以这样做的范围内，每个不是守则第7701(A)(30)节所指的“美国人”的受让人(包括贷款人根据第11.07节将其权益转让给的合格受让人，除非该合格受让人已经是本守则第7701(A)(30)节所指的贷款人)外国贷款人, 提供借款人或控股公司(视属何情况而定)应上述收款人的要求，同意偿还已付给借款人或控股公司(视属何情况而定)的款项(
(d)
加.
(i)
即使本款第(I)款有任何相反规定，在任何情况下，上述收款人均不会被要求根据本款(I)向借款人或控股公司支付任何款项，而该款项的支付将使该收款人的税后净额处于比受赔方所处的不利的税后净值状况，前提是未扣除、扣留或以其他方式征收导致退款的税款或其他税款，并且从未支付与该等税款或其他税款有关的赔偿款项或额外款项。该收款人(视属何情况而定)须在借款人提出要求时，向借款人提供任何评税通知书的副本或其他合理地可得的证据，证明有关政府当局已向借款人(
(ii)
提供该等收件人可在其合理酌情权内删除该收件人认为保密或与退款无关的任何资料)。每一贷款人同意，一旦发生导致第3.01(A)或(G)款对该贷款人实施的任何事件，如果借款人提出要求，它将采取商业上合理的努力，通过为受该事件影响的任何贷款指定另一个贷款办公室，或将其在本协议下的权利和义务转让给其另一个办事处、分支机构或附属机构，以减轻任何此类事件的影响，前提是，根据该贷款人的合理判断，这种指定将减少或取消借款人需要扣除、扣缴或支付的任何税款或其他税款；提供这种指定是由借款人承担费用的，并且其条款是，根据贷款人的合理判断，不会导致该贷款人或其任何放贷机构遭受任何经济、法律或监管方面的不利条件，以及
(e)
提供进一步
(f)
第3.01(I)节的任何规定不得影响或推迟借款人根据第3.01(A)或(G)节所承担的任何义务或该贷款人的任何权利。尽管本协议有任何其他规定，借款人和行政代理可以扣除和扣缴任何法律(为免生疑问，包括FATCA)要求从任何贷款文件下的任何付款中扣除和扣缴的任何税款，但须遵守本第3.01节的规定。
每个代理人或贷款人(视情况而定)应在提出要求后10天内分别赔偿行政代理人：(I)该代理人或贷款人应缴纳的任何税款(但仅限于
(g)
表现出(I)借款人尚未就该等税款向行政代理人作出赔偿，且不限制或扩大借款人的责任(I I)任何可归因于该贷款人未能遵守第11.07(E)节有关维持参与者登记册的规定的任何税款，及(Iii)行政代理人就任何贷款文件应付或支付的任何不包括在内的税款，以及由此产生或与之有关的任何合理开支，不论该等税款是否由有关政府当局正确或合法地征收或申报。行政代理交付给任何代理人或贷款人的关于此类付款或债务金额的证明，在没有明显错误的情况下，应是决定性的。每个代理人和贷款人特此授权行政代理人在任何时候抵销和运用任何贷款文件项下欠该代理人或贷款人的任何和所有款项，或行政代理人从任何其他来源支付给该代理人或贷款人的任何款项，以抵销根据本条款第3.01(K)条应付给行政代理人的任何款项。在不限制前述规定的情况下，任何不是守则第7701(A)(30)条所指的“美国人”的行政代理，将在其成为本协议一方之日或之前(此后应借款人的合理要求不时)向借款人交付一份按美国国税局表格W-8IMY正式填写的美国分行扣缴证明副本，证明其与借款人达成了将被视为美国人的协议。第3.01节中的协议在行政代理辞职或更换、本协议终止以及贷款和本协议项下应支付的所有其他金额的支付、清偿或解除以及任何贷款人的任何权利转让或替换之后仍然有效。
第3.02节
非法性.
(a)
这种计算方式不需要披露机密或价格敏感信息或法律禁止披露的任何其他信息)，借款人将向该贷款人或该开证行(视属何情况而定)支付一笔或多笔额外款项，以补偿该贷款人、该开证行或该开证行的控股公司所遭受的任何此类减值。.
(i)
报销凭证。贷款人或开证行出具的、列明本第3.04条第(A)或(B)款规定的赔偿该贷款人或该开证行或其各自的控股公司(视情况而定)所需金额并交付给借款人的证书，在没有明显错误的情况下应是决定性的。借款人须在收到任何该等证明书后30天内，向该贷款人(视属何情况而定)支付任何该等证明书上所显示的到期款额。请求的延迟。任何贷款人或开证行未能或迟延按照第3.04款或第3.01款的前述规定要求赔偿，不构成放弃该贷款人或该开证行要求赔偿的权利，提供
(ii)
在贷款人或开证行将导致费用增加或减少的法律变更或其他事项通知借款人之前180天以上，借款人不应根据第3.04节或第3.01节的前述规定向贷款人或开证行赔偿任何增加的费用或减少的费用，以及贷款人或开证行对此提出索赔的意向(但如果引起费用增加或减少的法律更改或其他事项具有追溯力，则除外，则上述180天期限应延长至包括其追溯力的期限)。
(A)
表现出
第3.05节
资金损失
(B)
根据任何贷款人不时提出的书面要求(向行政代理提交一份副本)，该要求应合理详细地说明申请该金额的依据(只要这种计算方式不要求披露机密或价格敏感信息或法律禁止披露的任何其他信息)，借款人应立即赔偿该贷款人，并使其免受因下列原因而实际发生的任何损失、成本、负债或支出(不包括预期利润或保证金损失)的损害：
(C)
在任何EURIBO利率贷款或任何期限基准循环贷款的利息期最后一天的前一天继续、转换、支付或预付(无论是自愿的、强制的、自动的、由于加速或其他原因)；
(D)
借款人未能在借款人通知的日期或金额预付、借入、继续或转换任何EURIBO利率贷款或任何定期基准循环贷款的任何情况(贷款人未能发放贷款的原因除外)；或因借款人根据第3.07节的要求，在其利息期最后一天的前一天转让EURIBO利率贷款或定期基准循环贷款；包括因清算或重新使用其为维持该贷款而获得的资金或因终止获得该等资金的存款而应支付的费用而实际发生的任何损失或费用(不包括预期利润或保证金的损失)。尽管有上述规定，贷款人不得根据第3.05款(I)就任何定期贷款利息的预付款或(Ii)借款人已在预付款日期前3个工作日向贷款人发出通知的贷款的任何预付款提出任何要求，且贷款人未在预付款的1个工作日内根据本第3.05款提交偿还要求。
(E)
第3.06节
(F)
适用于所有赔偿请求的事项
(iii)
指定不同的出借办公室
(iv)
。如果任何贷款人根据第3.04条要求赔偿，或借款人根据第3.01条被要求为任何贷款人的账户向任何贷款人或任何政府当局支付任何额外金额，或如果任何贷款人根据第3.02条发出通知，则该贷款人应尽合理努力指定不同的贷款办公室为其在本合同项下的贷款提供资金或登记其贷款，或将其在本合同项下的权利和义务转让给其另一个办事处、分支机构或附属公司，如果该贷款人判断，该指定或转让(I)将取消或减少根据第3.01或3.04条(视情况而定)应支付的金额，
(b)
暂停收件箱义务.
(i)
。如果任何贷款人根据第3.04款要求借款人赔偿，则借款人可通过通知该贷款人(并向管理机构发出副本)，暂停该贷款人从一个利息期到另一个利息期发放或继续发放定期基准贷款、发放RFR贷款或将基本利率贷款转换为定期基准贷款的义务，直至导致该请求的事件或条件停止生效(在这种情况下，应适用第3.06(C)节的规定)；
提供
该暂停不应影响该申请人获得所要求赔偿的权利。
(ii)
定期基准贷款和远期利率贷款的转换。如果任何贷款人向表现出
(iii)
借款人(将副本交给管理代理)在其他贷款人发放的定期基准贷款或RFR贷款(视情况而定)未偿还时，不再存在本合同第3.02、3.03或3.04节规定的导致该贷款人的定期基准贷款或RFR贷款(视情况而定)转换的情况(该贷款人同意在此类情况不复存在时立即转换)，第3.07节”); 在某些情况下更换贷款人。提供在上述(Y)条的情况下：
借款人应已向行政代理支付第11.07(B)(Iv)条规定的委托费；
贷款人应已从受让人(在未偿还本金和应计利息和费用的范围内)或借款人(在所有其他金额的情况下)或(如适用)受让人(在所有其他金额的情况下)或适用的承诺额和/或贷款类别中，收到与其贷款和参与信用证和周转额度贷款的未偿还本金、应计利息和费用、应计利息、应计费用以及根据本协议和其他贷款文件应向其支付的所有其他款项(包括根据第2.11(G)节和第3.05节应支付的任何款项)的款项；根据第3.07节被替换的贷款人应(I)就该贷款人的承诺、未偿还贷款和参与信用证或周转额度贷款(或适用的承诺类别和/或受此类转让约束的贷款)签署并交付转让和假设，以及(Ii)向借款人或行政代理交付任何证明此类贷款的票据(或作为替代的遗失或损坏的票据赔偿)；, 提供任何该等贷款人未能签立转让及承担或交付该等票据，并不会使该买卖(及相应的转让)无效，而该转让应为
(iv)
表现出
(c)
记录在登记册上的记录和附注一旦失效，应被视为被注销；.
(i)
有资格的受让人应成为本协议项下的贷款人，而转让贷款人应停止就此类转让贷款、承诺和参与构成本协议项下的贷款人，但本协议项下的赔偿条款除外，该条款对该转让贷款人仍然有效；在根据第3.04条提出赔偿要求或根据第3.01条要求支付款项而产生的任何此类转让的情况下，此类转让将导致此类赔偿或其后付款的减少；以及如果出借人是非同意出借人而产生的任何此类转让，有资格的受让人应在转让时同意被取代的出借人是非同意出借人所涉及的每一事项。尽管上文有任何相反规定，任何作为开证行行事的贷款人在任何时候不得被替换，除非开证行合理满意的安排(包括在形式和实质上提供后备备用信用证，并由开证行合理满意的开证行签发，或按最低抵押品金额交存现金抵押品(为此目的计算，根据合理地令开证行满意的安排，已就每一份未偿还信用证(仅就该开证行而言)存入现金抵押品账户)，且除非按照第10.09款的规定，否则不得更换担任行政代理的贷款人。如果(I)借款人或行政代理已请求贷款人同意偏离或放弃贷款文件的任何规定或同意对其进行任何修改，(Ii)同意、放弃或修改需要得到借款人所确定的每个贷款人、每个直接和不利影响的贷款人、每个受影响的贷款人或某一类别的每个贷款人的同意，以及(Iii)借款人所确定的具有投票权的贷款人(包括所需的贷款人、所需的循环贷款机构或所需的融资贷款机构，视情况而定)的多数已同意该同意、放弃或修订，则该贷款子组中的任何贷款方如不同意该同意、豁免或修改，应被视为
未经同意的贷款人
如果在此之前，由于贷款人的放弃或其他原因，借款人有权要求转让或转授的情况不再适用，则贷款人不应被要求进行任何此类转让或转授。
(ii)
第3.08节生死存亡。第四条借款的先决条件
(iii)
第4.01节首次借款的条件每一贷款人向借款人提供信贷的义务以及每一开证行在成交日期出具信用证的义务，均须满足或根据第11.01节规定的适当豁免，满足下列每个先决条件：
(iv)
表现出
行政代理收到以下文件：
(v)
由借款人正式签立的承诺贷款通知书；本协议由借款人、控股公司和中间控股公司正式签署；担保和担保协议；
(vi)
各借款方的组织文件复印件；在适用的范围内，由每个借款方的组织国(或当地同等机构)的适用国务秘书出具的良好信誉证明；如适用，每一贷款方董事会(或类似的管理机构)批准其所属贷款文件的签署、交付和履行的决议或其他行动的副本；贷款方负责人的在任证书和/或其他证书，证明受权担任与本协议及其所属其他贷款文件有关的负责人的身份、职权和能力；由负责官员签署的各借款方的行政代理人合理接受的证明，证明上文第(Iv)和(Vi)款中规定的与其有关的每份文件副本和上文第(Vii)款中规定的在职证明在每一种情况下都是正确、完整和完全有效的，并且在不早于本协议日期的日期没有被修改或取代；
(d)
.
(i)
Kirkland&Ellis LLP的意见，作为贷款各方关于纽约州法律事项的特别顾问；以及
(ii)
首席财务官或其他与借款人有同等责任的高级管理人员出具的关于借款人及其受限制附属公司偿付能力(在交易生效后)的证明，基本上采用本协议附件作为附件I的形式。于结算日首次借款之前或实质上同时进行的，结算日再融资应已完成或将完成。本协议规定必须在截止日期支付的所有费用和开支(以及与牵头安排人另行商定须支付的所有费用和开支)，对于费用和法律费用，在截止日期至少3个工作日前合理详细开具发票的范围内(除非借款人另有合理约定)应已全额现金支付。
与牵头安排有关的贷款人应在截止日期前至少3个工作日收到其合理的书面要求，并在截止日期前至少10个工作日收到关于贷款方的所有文件和其他信息，以遵守适用的“了解您的客户”和反洗钱法律，以及(Ii)
表现出借款人有资格根据受益所有权规则(一种受益所有权认证)成为“法人客户”。第V条或任何其他贷款文件所载借款人及其他贷款方的陈述及保证，于截止日期当日及截至截止日期在各重大方面均属真实及正确；但如该等陈述及保证特别提及较早日期，则该等陈述及保证于该较早日期在所有重大方面均属真实及正确，而任何有关“重要性”或“重大不利影响”的陈述及保证应在各方面均属真实及正确。
(e)
在交易结束日(紧接交易生效之前)不会发生违约或违约事件，也不会在交易生效后产生违约或违约事件。第4.02节
(i)
截止日期后所有借款的条件
(ii)
。
(iii)
借款人和其他贷款方在第五条或任何其他贷款文件中所作的陈述和担保，在该借款或任何信用证的签发、修改或延期之日应在各重要方面真实无误；
(iv)
提供
(v)
在该等陈述及保证明确提及较早日期的范围内，该等陈述及保证于该较早日期在所有重要方面均属真实及正确，而任何有关“重要性”或“重大不利影响”的陈述及保证亦应在各方面均属真实及正确。
(vi)
截至该借款之日或任何信用证的开立、修改或延期之日，在该日期(紧接申请的信用证延期生效之前)或在该日期申请的信用证延期生效后，不应发生或继续发生任何违约或违约事件。
如果适用，行政代理应已收到符合本协议要求的承诺贷款通知，如果适用，适用的开证行应已收到符合本协议要求的发行通知，或摆动额度贷款人应已收到符合本协议要求的摆动额度贷款请求。除第2.16(F)节关于增量融资的规定和第1.08(F)节的规定外，每份已承诺的贷款通知(只要求将贷款转换为另一种类型或延长期限基准贷款或为RFR贷款选择新的利息支付日期的承诺贷款通知除外)和借款人提交的每份发放通知应被视为在适用的借款或发行之日并截至该日已满足第4.02(A)和(B)节规定的条件的陈述和保证。信用证的修改或延期。
(f)
第五条陈述和保证
借款人仅根据第5.20节的规定，向贷款人、开证行、行政代理和抵押品代理各自陈述和担保下列各项，除非另有规定
表现出借款人明确同意的，仅在第2.16、4.01或4.02(A)节或任何其他适用的贷款文件中规定的、真实和正确的规定的日期。第5.01节
(g)
存在、资格和权力；遵守法律。每一借款方及其作为重要附属公司的每一受限制子公司，
(h)
根据其成立或组织所在的司法管辖区的法律(在该司法管辖区存在此类概念的范围内)，该人是否正式组织或组成、有效存在并在适用的情况下具有良好的地位；拥有所有必要的权力和权力，以及所有必要的政府许可证、授权、同意和批准，以(1)拥有或租赁其资产，并按目前进行的方式开展业务，以及(2)执行、交付和履行其根据其所属的贷款文件承担的义务；
(i)
根据每个司法管辖区的法律，凡其财产的所有权、租赁或经营或其业务的经营需要该等资格或许可证，该公司具有适当的资格及良好的信誉(在该司法管辖区内存在该概念的范围内)；及
(j)
第5.02节授权；没有违反规定每一贷款方签署、交付和履行其所属的每份贷款文件，均已得到该贷款方所有必要的公司或其他组织行动的正式授权。
(k)
每一贷款方签署、交付和履行该借款方为一方的每份贷款单据时，违反其任何组织文件的条款；违反任何适用法律；或导致任何违反任何证明借款方负债的合同义务；
但就第(Ii)及(Iii)款所指的任何违反、违反或违反事项而言，如合理地预期该等违反事项、违反事项或违反事项不会个别地或整体地产生重大不利影响，则属例外。
第5.03节
(l)
政府授权。对于本协议或任何其他贷款文件的任何借款方的签署、交付或履行，或对本协议或任何其他贷款文件的执行，不需要或要求任何政府当局采取实质性的批准、同意、豁免、授权或其他行动，或向任何政府当局发出通知或向其提交文件，但以下情况除外：完善债权当事人授予抵押物留置权的必要备案表现出
(m)
担保代理人为担保当事人的利益所作的担保；已妥为取得、采取、发出或作出并具有十足效力的批准、同意、豁免、授权、行动、通知及存档(但根据抵押品文件并不需要取得、采取、给予或作出或具有十足效力及作用的范围除外)；及
这些批准、同意、豁免、授权或其他行动、通知或备案如未能获得或提交，合理地预计不会个别地或总体上产生实质性的不利影响。
第5.04节
捆绑效应.
(a)
。本协议及其他每份贷款文件均已由作为本协议或其当事人的每一借款方正式签署和交付。本协议和其他每份贷款文件构成本协议或协议的每一借款方的合法、有效和具有约束力的义务，可根据其条款对借款方强制执行，但此种强制执行可能受到债务人救济法和公平原则以及诚实信用和公平交易原则的限制。第5.05节财务报表；没有实质性的不利影响
(b)
截至结算日，年度财务报表在各重大方面均如实列报报告实体及其合并附属公司截至其日期的财务状况，以及其于所涵盖期间的经营业绩(根据公认会计原则于所涵盖期间内一致适用，除非其中另有明文规定者除外)。
自截止日期以来，没有任何事件或情况，无论是个别的还是总体的，都没有产生实质性的不利影响。
(c)
截至截止日期，在截止日期或截止日期之前向贷款人提交的报告实体的预测和备考财务信息，作为一个整体，是根据报告实体认为在作出和向首席安排人提交这些预测时是合理的假设善意编制的；有一项谅解是，(1)此类预测和备考财务信息不应被视为事实；(2)此类预测和备考财务信息会受到重大不确定性和意外情况的影响，其中许多不在报告实体的控制范围之内；(3)不能保证将实现任何特定的预测和备考财务信息；(4)实际结果可能不同，这种差异可能是重大的。
附属公司
。于截止日期，借款人及受限制附属公司的所有未偿还股权均已有效发行及悉数支付及(如适用)无须评估，而由Holdings(于Intermediate Holdings)及由Intermediate Holdings(于借款人)、借款人或任何附属担保人于其各自的受限制附属公司拥有的所有股权均不受任何人士的任何留置权影响，但(A)根据抵押品文件设定的留置权及(B)第7.01节所准许的任何留置权除外。于截止日期，附表5.12(I)载列各受限制附属公司的名称及司法管辖权，及(Ii)载列Holdings、借款人及各担保人于各受限制附属公司的所有权权益，包括该等所有权的百分比。第5.13节保证金法规；投资公司法任何贷款方均不从事、主要或作为其重要活动之一，从事购买或携带保证金股票(由联邦储备委员会发布的U规则的含义)或为购买或携带保证金股票而提供信贷的业务，并且任何借款或发行信用证的收益或任何信用证下的提款都不会用于任何违反U规则的目的。
借款人和任何担保人都不是投资项下的“投资公司”
表现出.
(a)
1940年《公司法》。.
(i)
第5.14节披露截至截止日期，借款人或任何附属担保人或其代表在截止日期之前或之前以书面形式向任何代理人或任何贷款人提供的与本协议拟进行的交易有关的书面信息和书面数据，以及在截止日期或之前就本协议进行的谈判或根据本协议交付的任何其他贷款文件，从整体上看，均不包含对事实的任何重大错误陈述或遗漏陈述任何必要的重大事实，以根据交付该等书面信息和书面数据的情况作为一个整体，不具有实质性误导性(在实施对此类书面信息和书面数据的所有修改和补充之后，在每种情况下，在最初交付此类书面信息或此类书面数据的日期之后，但在截止日期之前)；应理解，就本第5.14节而言，此类书面信息和书面数据不应包括预测，
(A)
形式上
(B)
财务信息、财务估计、预测和前瞻性信息或一般经济或一般行业性质的信息。
截至截止日期，在截止日期或之前向行政代理提供的与本协议相关的受益所有权证书中所包含的信息在所有重要方面都是真实和正确的。
(C)
第5.15节
(D)
知识产权；许可证等
(E)
借款人及受限制附属公司拥有或有有效权利使用其各自业务经营所需的所有知识产权，除非未能个别或合共拥有任何该等权利将合理地预期不会产生重大不利影响。据借款人所知，目前借款人或任何受限制附属公司各自业务的运作并不侵犯、误用、挪用或违反任何人持有的任何知识产权，但个别或整体的侵犯、误用、挪用或违规行为则不在此限，合理地预期不会产生重大不利影响。第5.16节偿付能力。24第5.17节
美国爱国者法案、FCPA和OFAC
(ii)
每一家Holdings、Intermediate Holdings、借款人及其子公司在所有实质性方面都遵守适用于其的所有反洗钱法律。
(iii)
(I)借款人、中间控股、借款人或其任何附属公司，或据借款人所知，其各自的任何高级职员、董事、代理人及雇员目前并无在任何重大方面违反任何反贪污法；及(Ii)据借款人所知，贷款收益或任何信用证的任何部分均不会直接或间接用于向任何政府官员或雇员、政党、政党官员、政党候选人或任何其他以官方身份行事的人士支付任何违反反贪污法的款项。
(iv)
表现出联盟、国王陛下的财政部或任何其他因在该司法管辖区内组织而对借款人或其受限制的附属公司具有管辖权的政府当局(统称为，制裁
(b)
受制裁国家.
(i)
“)。第5.18节抵押品文件。除本合同或任何其他贷款文件另有规定外，抵押品文件的规定，连同在此或适用的抵押品文件或抵押品文件预期采取的此类备案和其他行动(包括根据适用的抵押品文件要求交付给抵押品代理人的任何质押债务和任何质押股权)，有效地为抵押品代理人创造一份有利于担保当事人利益的法律、有效和可执行的完善(如果，在抵押品文件要求采取的行动的范围内，此类留置权可以完善)优先留置权(受第7.01节允许的留置权的约束)分别对控股公司、借款人和适用的附属担保人在其中描述的抵押品中的所有权利、所有权和利益进行留置权。
第5.19节所得款项用途
。
第5.20节
(1)
被动控股公司
(2)
。Holdings和Intermediate Holdings均未从事或正在从事任何活跃的贸易或业务；
(3)
提供
(4)
为免生疑问，下列任何活动均不构成活跃的贸易或业务：
(5)
对借款人或其他人的股权的所有权；
(6)
维持其合法存在(包括产生与此种维持有关的费用、费用和开支的能力)；
(7)
根据第7.03节允许发生的任何债务或任何合格控股公司债务的产生(包括担保)及其义务和付款的履行；
(8)
任何普通股的发行或任何其他股权的发行(包括合格股权和持有与此相关的任何现金或财产)；
(9)
按其股权分红和分配；对子公司的资本金进行出资；在每一种情况下，仅在借款人及其子公司的此类义务不受本协议禁止的范围内担保借款人及其子公司的义务；以业主的身份参与税务、会计和其他行政事务表现出控股、中间控股和借款人的综合集团成员；持有因借款人支付限制性付款而收到的任何现金或财产；
向高级管理人员和董事提供赔偿；
(10)
进行(I)现金或现金等价物资产的投资，(Ii)通过发行控股公司的合格股权或合格控股公司债务融资的投资，或(Iii)第七条所述的其他投资，只要这些投资是向借款人提供的，包括根据第7.06(G)(Iv)条；
(11)
(I)将Intermediate Holdings与初始控股或借款人合并或合并为初始控股或借款人，或与借款人或初始控股(视何者适用而定)合并或合并，继续或在该合并或合并后继续存在，提供
在完成本款第(I)款所述的交易后，借款人以抵押品代理人为受益人的股权留置权将继续完全有效，或(Ii)清算或解散中间控股公司；
提供尚存的人(或接受中间控股资产的人)应为初始控股或借款人；以及第5.20节(A)至(L)项所述业务或活动的附带活动。第六条平权契约只要终止条件未得到满足，借款人应(除第6.01、6.02、6.03和6.05(A)节所列契约的情况外)促使每一家受限制的附属公司：, 第6.01节财务报表。将以下各项交付给管理代理，以便管理代理立即进一步分发给每个贷款人：经审计年度财务报表。任何不受限制的附属公司的资产或负债，或(Iv)任何重点事项或类似的说明性陈述)或有关该等审计范围的任何限制或例外规定。季度财务报表。在报告实体每个财政年度的前3个财政季度结束后60天内，从以下财政季度开始表现出2023年9月30日，报告实体在该会计季度结束时的简明综合资产负债表和相关的(1)该会计季度和当时终了的那部分会计年度的简明综合收益表或经营表和(2)当时结束的该会计年度部分的简明综合现金流量表，在第(I)和(2)款的每一种情况下，以比较形式列出上一会计年度的相应会计季度和上一会计年度的相应部分的数字(如果该上一会计季度在结算日之后结束，则就资产负债表而言，或上一财政年度的该相应部分在截止日期后全额过去(如属该等其他财务报表)，须经报告实体的一名负责人员核证，在各重大方面按照公认会计原则公平地列报报告实体及其附属公司的财务状况、经营成果及现金流量，但须作出正常的年终调整及不加脚注。预算；预测
(ii)
。在根据第6.02(A)节提交年度合规证书的同时，报告实体管理层通常按季度编制下一财政年度的合并预算，供其内部使用，并列出编制这类合并预算所依据的重要基本假设(包括报告实体及其附属公司截至下一财政年度结束时的任何预计合并资产负债表，以及相关的预计业务或收入和预计现金流量的合并报表，每种情况下，按报告实体管理层编制并纳入此类合并预算的程度计算)。该等预计财务报表应根据报告实体在编制该等预计财务报表时认为合理的假设真诚地编制；.
(A)
提供
(B)
第6.01(C)节的要求在符合条件的首次公开募股完成或采取实质性步骤后的任何时候均不适用。
不受限制的子公司
。在提交上文第6.01(A)和6.01(B)节所述的每套合并财务报表的同时，除合并财务报表例外情况外，合并财务报表或反映从该等合并财务报表中剔除非限制性附属公司(如有)账目所需调整的资料(无须经审计)。合并财务报表”); 借款人应将任何此类文件的张贴通知行政代理(可以通过传真或电子邮件)，并通过电子邮件向行政代理提供此类文件的电子版本(即软拷贝)。每一出借人应单独负责及时调取张贴的文件，或要求行政代理交付此类文件的纸质副本，并维护其副本。借款人特此确认：(A)行政代理和/或牵头安排人可向贷款人提供由借款人或其代表提供的材料和/或信息(统称为“借款人材料“)通过在SyndTrak或其他网站上发布借款人材料表现出类似的电子系统(“站台, “)和(B)某些贷款人的人员可能不希望收到关于借款人或其子公司或上述任何机构各自证券的任何非公开信息的信息，并且可能从事与该人的证券有关的投资和其他与市场有关的活动。借款人特此同意：(I)除非借款人在交付前通知行政代理相反，(X)根据第6.01(A)条或第6.01(B)条交付的财务报表和与此相关交付的每份合规证书，以及(Y)在每种情况下，每份贷款文件均应被视为“公共”(为免生疑问，本款后续条款应适用于此，而不要求借款人材料标记为“公共”)。(Ii)在行政代理机构的要求下，向公共贷款人提供的所有借阅材料应清楚而显眼地标记为“公共”，这至少意味着“公共”一词应出现在其第一页的显著位置(这样做应被视为表示此类信息仅包含公共方面信息)；(Iii)通过将借款人材料标记为“公共”，借款人应被视为已授权行政代理、首席安排人和贷款人将该等借款人材料视为仅包含公共方面信息(提供然而，借款人资料构成信息的范围内，应按第11.08节的规定处理)；(Iv)允许通过平台指定的“公共端信息”部分提供标记为“公共”的所有借款人资料；以及(V)行政代理和首席编排者有权将任何未标记为“公共”的借款人资料视为仅适用于在平台未指定为“公共端信息”的部分上张贴。
为免生疑问，上述条款应遵守第11.08节的规定。第6.03节通告
。在控股的负责人员或借款人获得实际信息后，立即通知行政代理，以便行政代理迅速进一步通知每个贷款人：
发生任何违约或违约事件；以及
(iii)
(I)任何政府主管当局或在其面前针对借款人或任何受限制附属公司的任何争议、诉讼、调查或法律程序，或。(Ii)任何影响借款人或任何受限制附属公司的诉讼或法律程序的提起或展开，或在该等诉讼或法律程序中的任何实质性进展，而在第(I)或(Ii)款所述的任何该等情况下，该等诉讼或法律程序已导致或预期会导致重大不良影响。为免生疑问，上述条款应遵守第11.08节的规定。
(iv)
第6.04节支付某些税款。应及时支付、解除或以其他方式清偿就其或其收入或利润或其财产而施加的所有税项及负债，除非在每种情况下(A)该等税项正以真诚及勤奋进行的适当行动提出争辩，并已根据公认会计原则为其建立适当准备金，或(B)未能支付、清偿或以其他方式清偿该等税项不会合理地个别或整体地产生重大不利影响。表现出第6.05节保留存在等根据其注册成立或组织的司法管辖区的法律，保存、更新和全面维持其合法存在；以及维护、维护和保护其在业务运营中使用的所有材料特性和设备，使其处于良好的工作状态、维修和状况，正常磨损除外，伤亡或谴责除外；
(v)
采取一切合理行动，获取、保存、更新和全面保持其权利(包括关于已登记知识产权的权利)、许可、许可、特权和特许，这些权利、许可、许可、特权和特许对其业务的开展具有重要意义；].
(vi)
除非(I)与贷款文件未以其他方式禁止的交易有关(包括根据第VII条允许的任何合并、合并、清算、解散或处置)，或(Ii)不这样做将合理地预期不会产生个别或总体的重大不利影响。第6.06节
(vii)
[预留]第6.07节
(A)
保险的维持向保险公司保持借款人(根据其管理层的善意判断)在投保或续保相关保险时财务状况良好和信誉良好，或向专属自保子公司维持其财产和业务的一般责任保险，以防止从事相同或类似业务的人通常投保的种类的损失或损害，由借款人真诚地确定在类似情况下通常由其他人承保的类型和金额(在实施任何自我保险后，对于从事与借款人和受限制子公司相同或类似业务的人来说是合理的和习惯的，或根据借款人和受限制子公司的业务的规模和性质以及此类保险的成本效益基础是合理和审慎的)，并在行政代理人提出合理的书面请求后，向行政代理提供关于如此承保的保险的合理详细信息；提供除第6.11(B)条或第6.16条规定外，贷款方不应被要求维持洪水保险。由美国境内的任何贷款方维持的每份此类保险单应视情况和惯例，(I)代表担保方指定抵押品代理人作为其权益可能出现的附加受保人，和/或(Ii)就每份财产和意外伤害保险单而言，包含贷款人的应付损失条款或背书，该条款或背书将担保品代理人代表担保方指定为其项下的贷款人损失收款人；提供
，在截止日期未满足第6.07节的要求的情况下，借款人可在截止日期后90天内满足该要求(由行政代理以其合理的酌情决定权延长)。
第6.08节
(B)
遵守法律
(viii)
。遵守适用于该公司或其业务或财产的所有法律的要求(包括为避免产生疑问，适用的环境法和ERISA)，除非不能合理地个别或整体地预期不符合这些要求会产生实质性的不利影响。第6.09节书籍和记录。保存适当的记录和帐簿，其中应对涉及借款人或受限制附属公司的资产和业务的所有重大财务交易和重大事项作出全面、真实和正确的分录。
(c)
表现出可以(理解和同意，外国子公司可以按照其各自组织或运营所在国家公认的会计原则保存个人账簿和记录，并且这种保存不应构成违反本协议项下的陈述、保证或契诺)。
(d)
第6.10节视察权
。允许行政代理的代表和独立承包商访问和检查其任何财产，检查其公司、财务和经营记录以复制或摘录这些记录，并在向借款人发出合理的提前通知后与其董事、高级管理人员和独立的公共会计师讨论其事务、财务和账目(受该等会计师的惯例政策和程序的约束)，所有这些都在正常营业时间内的合理时间进行，并在向借款人发出合理的提前通知后随时进行；
提供
(e)
(A)在任何日历年内，行政代理不得在没有特定违约事件持续的情况下多次行使上述权利，以及(B)当特定违约事件持续时，行政代理可在正常营业时间内的任何时间和在合理的事先通知下，由借款人承担任何前述的费用。行政代理应让借款人有机会参加与借款人的独立公共会计师进行的任何讨论。为免生疑问，上述条款应遵守第11.08节的规定。第6.11节
(f)
保证义务和提供保障的契约。借款人自负费用，在任何贷款文件(包括第6.12节)中的任何适用限制的限制下，采取下列行动：
在(1)任何贷款方成立或收购任何新的全资拥有的材料子公司时(包括但不限于，在成立属于特拉华州分立有限责任公司的任何材料子公司时)，(2)根据第6.14节将任何贷款方的任何现有全资材料子公司指定为受限制子公司，(3)任何人成为贷款方的全资材料子公司(即受限制子公司)，或(4)贷款方的任何全资材料子公司不再是排除在外的子公司(包括不再是非关键子公司的材料子公司)，在第(1)-(3)款下的每一种情况下，除被排除的子公司外：
在该事件发生后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内)，促使该重大附属公司正式签署担保并将其交付给担保代理人(或其合并)；.
(a)
在该事件发生后90天内(或行政代理在其合理酌情权下同意的较长期限内)，促使该重大附属公司正式签署担保协议附录、公司间从属协议的对应签字页以及任何适用的知识产权担保协议，并将其交付给担保代理人；在该事件发生后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内)，促使该重大附属公司(以及作为借款人或担保人的每个该重大附属公司的母公司)交付贷款文件中要求质押的、构成抵押品的股权的任何和所有证书，连同未注明日期的股权书或其他以空白签立的适当转让票据(或根据当地法律习惯的任何其他文件)，以及证明构成该重大附属公司持有并根据《担保协议》必须质押的抵押品的债务的票据，抵押品代理人和其他任何抵押品文件，空白背书给抵押品代理人；和表现出在该事件发生后90天内(或行政代理人以其合理的酌情决定权同意的较长期限)，行政代理人在行政代理人的合理要求下，采取并促使根据贷款文件必须成为附属担保人的重大附属公司和该重大附属公司的每一直接或间接母公司采取行政代理人合理地认为必要的习惯行动，将担保协议和其他抵押品文件所要求的有效的优先完善留置权授予抵押品代理人(或其指定的抵押品代理人的任何代表)(受第7.01节允许的留置权的约束)。可根据第三方的条款对所有第三方强制执行，但此种可执行性可能受到债务人救济法和一般衡平法原则的限制(无论是通过衡平法还是在法律上寻求强制执行)；
提供
，与不动产留置权有关的诉讼受第6.11(B)节而不是第6.11(A)节管辖。
(b)
物质不动产.
(i)
告示在第6.11(A)节所述的重大附属公司(不包括任何排除的附属公司)成立、收购或指定后90天内(或在每种情况下，行政代理以其合理的酌情决定权同意的较长期限内)，借款人将或将促使该重大附属公司合理详细地向抵押品代理提供对该重大附属公司拥有的任何重大不动产(排除的资产除外)的描述。, (B在贷款方在截止日期(或行政代理人在其合理的酌情决定权下同意的较长期限内)取得任何重大不动产后90天内，借款人应向抵押品代理人提供该重大不动产的合理详细描述。按揭等
(ii)
。借款人将或将促使适用的贷款方在触发要求发出通知的事件发生后120天内(或在任何情况下，行政代理可能以其唯一和绝对酌情决定权同意的较长期限)向抵押品代理提供关于根据第6.11节交付的通知标的的重大不动产的抵押(或相当于当地法律的抵押)，以及：
(c)
提供
表现出.
(a)
已全额支付的按揭保单或已签署的承诺书，连同所需的誓章、证明书及弥偿文书(包括所谓的“缺口”弥偿)，以促使业权保险公司发出上述按揭保单及背书，以及支付业权保险费及开支的证据，以及与记录按揭有关而须支付的所有记录、按揭、转让及印花税及费用的证据；贷款方在重大不动产所在州或司法管辖区的当地律师的习惯意见，关于抵押和任何相关固定设备档案的可执行性，以及(如果对所述抵押财产授予抵押(或相当于当地法律)的适用贷款方是注册和/或组织的)关于此类抵押(或相当于当地法律)的适当授权、执行和交付的意见，以及在每种情况下，行政代理可能合理要求的其他事项；24一张洪水保险证书。即使在任何贷款文件中有相反的规定完善抵押品的担保权益，而不是通过，根据《统一商法典》在有关州(S)国务秘书办公室(或类似的中央档案局)备案，以及在适用的房地产记录中关于构成抵押品的实物不动产的备案；(I)美国专利商标局就设保人根据《担保协议》拥有的任何美国颁发的专利和注册商标及其任何申请提交的文件，以及(Ii)国会图书馆美国版权局就设保人根据《担保协议》拥有的美国注册著作权和根据《担保协议》向设保人授予的美国注册著作权的独家许可提交的文件，每种情况下均构成抵押品；构成抵押品的重大不动产的抵押(或相当于当地法律的抵押)；以及24向其持有的行政代理或抵押品代理交付所有抵押品，这些抵押品包括根据《担保协议》第2.02(A)节要求构成抵押品的经证明的股权证券和票据；就任何存款账户、证券账户、商品账户或其他银行账户订立任何控制协议、锁箱或类似安排，或以其他方式完善有控制权的担保权益；表现出采取任何行动(A)针对位于美国境外的任何资产，(B)在任何非美国司法管辖区内，或(C)根据任何非美国司法管辖区的法律要求设立、完善或维持任何担保权益或其他；24就完善任何知识产权(美国专利商标局和美国版权局的简短担保权益备案除外)、信用证、信用证权利、商业侵权索赔、动产纸或受所有权证书或类似法规约束的资产(在每种情况下，提交UCC-1融资声明除外)或交付房东留置权豁免、禁止质押、受托保管书或抵押品访问信采取任何行动；每一财政年度不止一次提供关于抵押品的最新完善证书或其他类似的综合报告；或(A)登记(或申请登记)任何知识产权或(B)订立任何源代码托管安排。第6.12节进一步保证。根据第6.11节和任何贷款文件中的任何适用限制，在任何情况下，借款人应抵押品代理人的合理要求或根据适用法律的要求，迅速(A)纠正在签立、确认、存档或记录任何抵押品文件或与任何抵押品有关的其他文件或文书时可能发现的任何重大缺陷或错误，以及(B)进行、签立、确认、交付、记录、重新记录、存档、重新存档、登记和重新登记任何和所有此类进一步的行为、契约、证书、担保和其他文书作为担保人可以不时合理地要求，以便更有效地实现担保品文件的目的。第6.13节
(b)
与关联公司的交易
。不得与借款人的任何关联公司进行任何类型的交易，但下列情况除外：
任何交易或一系列相关交易的对价低于(I)成交日期EBITDA和(Ii)TTM合并调整后EBITDA中较大者的10%，按适用确定日期的形式计算；
(c)
借款人、任何受限制附属公司或因该等交易而成为受限制附属公司的任何实体之间的交易；以实质上对借款人或受限制附属公司有利的条款进行的交易，与借款人或受限制附属公司在当时与关联公司以外的人进行的可比公平交易中可获得的条件相同(由借款人善意确定)；[保留];
向借款人的任何关联公司或借款人的任何前任、现任或未来的高级管理人员、董事、经理、雇员或顾问(或前述各项的任何配偶、继承人、遗嘱执行人、管理人、继承人、受遗赠人或分配者)、其任何附属公司或借款人的任何直接或间接母公司发行或转让控股公司或其任何直接或间接母公司的股权；
(I)根据《保荐人管理协议》向保荐人支付赔偿和费用(包括自付费用)；及(Ii)只要没有具体说明.
(a)
表现出违约事件应已经发生，并将继续或将导致根据保荐人管理协议(加任何未付的管理费、咨询费、监督费、咨询费和前一年应计的其他费用)；提供如果不是特定违约事件，根据本条款第6.13(F)节允许支付的付款可在该特定违约事件持续期间累计，并在该特定违约事件不再持续时支付；[保留];[保留];保荐人或其关联公司对借款人或其任何受限子公司的证券或债务的投资，包括关联贷款人和关联债务基金以本协议项下贷款人的身份或根据任何其他协议、文件或文书的贷款人身份对借款人或其任何受限附属公司的债务进行的投资，在每种情况下，只要(I)该人受到的待遇不比其他投资者或贷款人更优惠，以及(Ii)任何关联债务基金对贷款或其他债务证券的投资，任何此类投资占此类证券的建议或未偿还发行额的比例均低于10.0%；借款人与受限制子公司及其各自的高级管理人员和雇员在正常业务过程中根据股票期权、利润、利息和其他股权计划以及员工福利计划和安排进行交易时的雇佣和离职安排以及保密协议；在正常业务过程中许可商标、著作权或其他知识产权，以允许在借款人的关联公司和子公司之间或之间对知识产权进行商业利用；在正常业务过程中，向控股公司、借款人和受限制附属公司或控股公司的任何直接或间接母公司的董事、高级管理人员、雇员和顾问支付常规费用和合理的自付费用，以及代表其提供的赔偿，但以借款人和受限制附属公司的所有权或运营为限；在截止日期有效的任何协议、文书或安排，以及在每种情况下证明附表6.13所述的超过$25,000,000的协议、文书或安排的任何修订(只要任何该等修订与借款人真诚决定的在截止日期有效的适用协议相比，在任何重要方面并不对贷款人不利)；第7.06节允许的限制性付款、第7.11(A)节允许的预付款、赎回、购买、亏损和债务清偿，以及第7.02节允许的投资；表现出借款人或任何受限制附属公司(视属何情况而定)向行政代理人递交独立财务顾问的函件，说明该交易从财务角度而言对借款人或该受限制附属公司是公平的，或符合本第6.13条(C)款的要求(但不实施其末尾的插入语)；
(b)
为购买或销售在正常业务过程中达成的货物、设备和服务，并以符合借款人及其子公司所在行业的公司遵循的审慎商业惯例的方式，向合营企业付款或从合营企业付款或与其进行交易；与任何符合条件的证券化融资或应收账款融资交易有关的证券化资产或相关资产的处置；借款人或任何子公司与任何人之间的交易，而董事也是借款人的董事或借款人的任何直接或间接母公司；
(c)
提供然而，
(d)
(e)
(f)
第6.14节
附属公司的指定
。借款人可随时指定任何受限制附属公司为非受限制附属公司，或指定(或重新指定，视属何情况而定)任何非受限制附属公司为受限制附属公司；
(g)
提供在紧接该指定(或重新指定)之前和之后，不应发生或继续发生任何特定的违约事件。尽管如此，任何不受限制的子公司在任何时候都不得拥有或独家许可或独家享有对控股公司及其受限子公司(作为一个整体)的业务运营具有重大意义的任何知识产权；提供
为免生疑问，该要求不应限制任何此类不受限制的子公司在此时持有任何此类知识产权的非排他性许可。
第6.15节.
(a)
评级的维持
(b)
。使用商业上合理的努力来维持(A)S、穆迪和惠誉中的任何两家对报告实体的公开企业信用评级或公开企业家族评级(但不是特定评级)，以及(B)关于
(i)
首字母来自S、穆迪和惠誉任何两家的定期贷款(但没有具体评级)。表现出第6.16节
(ii)
结束交易后的事项。第6.17节
所得款项用途
(c)
于结算日作出的初始定期贷款所得款项及于结算日作出的循环借款将于结算日用于(I)完成结算日的再融资，(Ii)支付交易费用及(Iii)用于营运资金及本协议允许的其他用途。在第1号修正案生效日发放的初始定期贷款的收益应按照第1号修正案规定的用途使用。在第2号修正案生效日发放的初始定期贷款的收益应按照第2号修正案规定的用途使用。
(i)
在第4号修正案生效日发放的2024年再融资定期贷款的收益，应按照第4号修正案规定的用途使用。循环贷款和周转额度贷款的收益将用于借款人及其受限子公司的营运资金和其他一般企业目的，包括为允许的收购、限制性付款或本协议条款不禁止的任何其他交易提供融资。) 信用证将用于借款人及其受限制子公司的一般企业目的，包括贷款文件不禁止的支持交易。第6.18节
(ii)
出借人电话
。在行政代理人提出合理的书面要求并在每个财政季度结束后借款人和行政代理人共同商定的日期(从截至2023年9月30日的财政季度开始)举行季度电话会议(在借款人和行政代理人双方商定的时间，但无论如何不得早于第6.01(A)和6.01(B)节所述的每套合并财务报表交付后的营业日)，与选择参加该电话会议的所有贷款人举行电话会议；
提供
(d)
尽管有上述规定，本第6.18节中提出的要求可以通过公开财报电话会议来满足。
(e)
第七条
(f)
消极契约
(g)
只要不满足终止条件，借款人不得，也不得允许任何受限制子公司(仅就第7.10节而言，控股或中间控股不得)：24第7.01节24留置权。设立、产生、承担或允许在现在拥有或此后获得的任何财产或资产上存在任何留置权，以保证借款人或任何受限制的附属公司的债务，但下列情况除外：抵押品文件下的留置权；[保留];留置权在截止日期存在，或根据具有约束力的合同存在，并在保证在截止日期本金超过25,000,000美元的范围内，设定表现出附表7.01第四条；(I)非贷款方的受限制附属公司授予任何贷款方的留置权；(Ii)非贷款方的受限制附属公司授予非贷款方的其他受限制附属公司的留置权；及(Iii)任何贷款方授予任何其他借款方的受限制附属公司的留置权；对借款人或任何受限附属公司第7.03(E)条允许的债务(包括资本化租赁债务)的担保留置权，包括为固定资产或资本资产的收购、建设、维修、更换或改善提供债务融资，包括通过直接购买资产或拥有此类资产的任何人的股权；提供
即：
对于根据第7.03(E)(A)节产生的任何此类债务，此类留置权与适用的购置、建造、修理、更换或改善同时或在365天内附加；以及这种留置权在任何时候都不妨碍除通过这种债务融资的财产和这种财产的任何替代以外的任何财产，但对这种财产及其收益和产品的附加物和附加物，以及对这种财产(包括其附加物)和其收益和产品的任何租赁除外；如果进一步提供一人及其关联公司提供的融资可以交叉抵押于该个人及其关联公司提供的其他融资以及根据第7.03(E)节产生的其他债务；
关于(I)增量等值债务和(Ii)根据第7.03(F)节产生的其他债务的担保留置权，在每一种情况下，均具有增量等值债务(关于第(I)条)和允许再融资(关于第(Ii)条)的定义所允许的优先顺序，并在符合适用的其他条款的情况下，并且不包括此类定义允许的债务仅作为无担保债务发生的范围；
对根据第7.03(G)节产生的债务进行担保的留置权；.
(a)
提供
在这种债务构成同等留置权债务或次级留置权债务的情况下，代表此类债务持有人行事的债务管理人可以(并且已经)成为下列债务的当事人或在其他方面受下列规定的约束：(A)如果此类债务是同等留置权债务，作为“额外第一留置权代表”(或类似称谓)的同等优先权债权人间协议，以及当时作为“高级优先权代表”(或类似称谓)存在的任何次级留置权债权人间协议，或(B)如果此类债务是次级留置权债务，则作为“第二优先权代表”(或类似称谓)的次级留置权债权人间协议；
(b)
就(I)准许比率债项及(Ii)依据第7.03(I)节产生的其他债务而保证债务的留置权，在每种情况下，均须具有根据(关于第(I)条)或准许的准许比率债项的定义所准许的优先权，并受准许比率债项的定义所载其他条款的规限
表现出.
(a)
再融资(就第(Ii)款而言)(视情况而定)，且不包括此类债务仅允许作为无担保债务发生的范围；借款人或任何受限附属公司对租赁(资本化租赁除外)或不构成债务的其他债务的担保，在每种情况下都是在正常业务过程中订立的；(一)对证券化子公司的投资或证券化子公司对任何其他人与合格证券化融资有关的任何投资；
(b)
提供
(c)
对证券化子公司的任何投资是证券化资产或股权，以及(Ii)证券化资产和证券化费用的分配或支付，以及根据
(d)
表现出
(e)
与合格证券化融资相关的证券化回购义务；
构成投资、购买和购置存货、供应品、材料、服务或设备，或根据与其他人在正常业务过程中订立的联合营销安排进行的知识产权许可或贡献；
在正常业务过程中为获得、维持或续签客户合同而进行的投资，以及在正常业务过程中向分销商提供的贷款或垫款；
(f)
[保留];
(g)
无限投资，只要在紧接该投资发生之前的适用测试期内的第一留置权净杠杆率(在给予该投资的产生和其收益的使用形式上的效果之后)小于或等于4.00：1.00；
(h)
提供
如果根据第(Y)款进行的任何投资在该项投资的日期(生效之前)对不是受限制附属公司的任何人进行，而该人随后成为受限制附属公司，则最初根据第(Y)款对该人进行的投资应随即被视为已根据第7.02(C)(I)节作出，且不是根据第(Y)款作出的；
于任何时间未偿还总额不超过(I)截止日期EBITDA及(Ii)TTM综合调整后EBITDA中较大者(以适用厘定日期为基准)的投资总额不超过50%的非限制性附属公司；提供如任何依据本条(Z)作出的投资在该项投资的日期(生效前)对任何不是受限制附属公司的人作出，而该人其后成为受限制附属公司，则最初根据本条(Z)对该人作出的投资，应随即被视为已根据第7.02(C)(I)节作出，并不是根据本条(Z)作出的；
(Aa)
合资企业投资；
提供
如任何依据本条(Aa)作出的投资在该项投资的日期(生效前)对任何不是受限制附属公司的人作出，而该人其后成为受限制附属公司，则最初根据本条(Aa)对该人作出的投资应随即被视为已依据第7.02(C)(I)节作出，并不是根据本条(Aa)作出的；.
(a)
(Bb)与任何获准的IPO/税务重组相关的任何投资；对类似业务的投资总额在任何时候不超过(I)截止日期EBITDA和(Ii)TTM合并调整后EBITDA中较大者的50%，按适用确定日期的形式计算；提供如任何依据本条(Cc)作出的投资在该项投资的日期(生效前)对任何不是受限制附属公司的人作出，而该人其后成为受限制附属公司，则最初根据本条(Cc)对该人作出的投资，应随即被视为已根据第7.02(C)(I)节作出，且不是根据本条(Cc)作出；及(Dd)对非实质性子公司的投资；提供在备考基础上，任何非重大附属公司将不会在该等投资生效后立即成为重大附属公司。表现出为了确定是否符合本第7.02节的规定，借款人可以合并多个篮子以招致一项投资，如果任何投资(或其任何部分)符合上述一种以上类别的标准，借款人可在作出此类投资时，以其唯一和绝对的酌情权，根据当时未偿还的投资额和当时可用的篮子，随时进行划分、分类、重新分类、排序或重新排序，在进行此类投资之日或以后的适用时间，以符合本公约的任何方式对此类投资(或其任何部分)进行排序或重新排序。任何非现金投资的金额将以其当时的公允市场价值为准。如果对任何人的任何投资是根据第7.02节的规定依据上述类别进行的，而该类别受到以美元计价的投资限制，则该人随后将此类投资的全部或任何部分(以股息、分配、清算或其他形式，但不包括公司间债务)返还给借款人、任何其他贷款方或任何受限制的子公司(在适用的范围内)。该等回报将被视为记入投资当时被扣除的以美元计值的类别(但在任何情况下不得导致依赖该类别而可投资的总金额超过(X)该等投资的原始金额及(Y)该以美元计值的限制的总金额两者中较小者)。第7.03节负债。借款人将不会、也不会允许任何受限附属公司产生、招致、承担或允许存在任何债务，但下列情况除外：贷款文件项下的债务；[保留]，, 截至结算日的未偿债务或现有有约束力的合同规定的未偿债务，以及附表7.03所列在结算日本金超过$25,000,000的债务及其任何允许的再融资；
(b)
提供提供(I)该等债务并非在预期中产生，(Ii)该等债务对借款人Holdings是无追索权的(亦非由任何借款人承担)，即构成购买价格或其他类似调整(包括卖方票据、“盈利”和延期付款)的债务，在每一种情况下，在成交日前或之后发生的许可收购、投资、处置或其他交易；即债务，包括在截止日期之前或之后发生的交易、准许收购、投资或其他交易所产生的递延补偿或其他类似安排项下的债务；或表现出即为一项许可投资的全部或部分融资而产生的等额留置权债务、次级留置权债务、其他担保债务或无担保债务；提供
(c)
如果这种债务是无担保的或构成其他担保债务，则在形式上是：借款人的总净杠杆率等于或小于5.25：1.00；或
(i)
适用测试期的利息覆盖率等于或大于2.00至1.00；如果这种债务是次级留置权债务，按形式计算，借款人的担保净杠杆率等于或小于5.25：1.00；或
(ii)
如该等债务为同等连带债务，则按形式计算，借款人的第一留置权净杠杆率等于或小于4.00至1.00；或
提供”).
非贷款方产生或担保的已发生收购债务的本金总额，连同(X)作为其他担保债务的任何增量定期融资和增量循环融资的本金总额，以及(Y)非贷款方根据第7.03(J)条(Y)款发生或担保的任何许可比率债务、增量等值债务和任何其他债务的本金总额，不得超过非贷款方债务上限；和
根据本第7.03节发生的债务的任何允许再融资(L)；在正常业务过程中因筹措保险费而产生的债务；
(d)
(Aa)
(e)
[保留];(Bb)[保留];(I)准许债务交易所证券(在构成债务的范围内)及。(Ii)根据本第7.03(Cc)条对所产生的债务进行任何准许再融资；及。(Dd)所有保费(如有)、利息(包括请愿后利息)、费用、开支、收费以及与上述各条款所述义务有关的额外或或有利息。
(f)
为了确定是否符合本第7.03条的规定，借款人可以合并一个以上的篮子，以产生一项债务，如果一项债务(或其任何部分)符合上述一种以上类别的标准，借款人可在发生债务时，根据当时未偿还的债务和随后可用的篮子，以其唯一和绝对的酌情权，在以后任何时间进行划分、分类、重新分类、排序或重新排序，在债务发生之日或以后适用的时间，以符合本公约的任何方式排列或重新排列该负债项目(或其任何部分)；但根据贷款文件产生的所有债务将被视为根据上文(A)款中的例外情况而产生，不允许根据本款重新分类。为免生疑问，根据第7.03节任何条款允许发生的任何债务，除非被要求用于其中规定的任何特定目的，否则可用于对任何未偿债务进行再融资、替换、续订、交换或扩展，包括根据第7.03节任何其他条款产生的任何此类债务，以及根据第7.03节适用条款明确允许发生再融资的任何此类债务，在每种情况下，对于任何次级融资的任何再融资、替换、续订、交换或扩展，均受第7.11节规定的限制。
(i)
就第7.03节而言，利息的应计和增加值的增加以及以额外债务形式支付的利息不应被视为债务的产生。就将任何现有债务与新产生的债务交换、延长、续期、替换或再融资而言，该新产生的债务的本金金额的增加，相当于(1)就被交换、延长、续期、替换或再融资的债务支付的所有未付利息、应计利息或资本利息、罚款和保费(包括投标保费)的金额，以及(2)所有承保折扣、费用、佣金、成本、就第7.03节而言，此类新产生的债务的应付费用和其他金额(包括所有原始发行贴现的金额)不应被视为债务或贷款文件中的债务。在不限制第1.08(F)节规定的情况下，就任何债务签署任何承诺书，其条款须经谈判并签署最终文件，对于本第7.03节而言，不应构成债务。在任何日期构成债务的任何无息债务或其他贴现证券的本金，应为借款人按照公认会计原则编制的该日期资产负债表上所显示的本金。
(ii)
表现出第7.04节根本性变化。与另一人合并、解散、清算或合并(在每一种情况下，包括根据特拉华州有限责任公司分部)，但以下情况除外：,提供
(g)
即：这种合并或合并不会导致借款人停止根据美国、其任何州或哥伦比亚特区的法律组织；任何受限制附属公司可与任何其他受限制附属公司或成为受限制附属公司的任何人士合并或合并；
(i)
任何旨在将另一司法管辖区内的受限制附属公司重新注册或重组的合并均应获准；任何受限制的子公司可以清算或解散；提供
为免生疑问，根据第1.08(F)节的规定，只要不存在或不会由此导致特定的违约事件，借款人就可以与任何其他人(包括中间控股)合并或合并；
(ii)
提供 即：借款人应为在美国成立的持续或尚存的公司；或由任何此类合并或合并组成的人或在合并或合并中幸存下来的人不是借款人；
(iii)
该人应是根据美国、其任何州或哥伦比亚特区的法律组织或存在的实体；该人应明确承担借款人在本协议项下的所有义务，以及借款人根据本协议的补充文件所属的其他贷款文件所承担的所有义务，并以行政代理合理满意的形式承担这些义务；每一担保人，除非它是该合并或合并的另一方，应通过担保书的补充，确认其对义务的担保应适用于该人在本协议项下的义务；每一贷款方，除非它是该合并或合并的另一方，应通过《担保协议》的附录确认其在该协议下的义务应适用于该人在本协议下的义务；如果抵押品代理人提出要求，抵押财产的每一抵押人，除非是该合并或合并的另一方，应通过对适用的抵押品(或抵押品代理人合理满意的其他文书)的修订或重述，确认其在抵押财产中的义务应适用于该人在本协议下的义务；和表现出借款人应向行政代理人提交一份高级人员证书和一份律师意见，每一份均说明该合并或合并以及本协议或任何附属文件的补充符合本协议，并且仅就律师的意见，包括惯例组织、适当的执行、在行政代理人合理要求的范围内没有冲突和可执行性意见；双方同意，如果满足上述条件，该人将继承并取代本协议项下的借款人；借款人和受限制子公司可以完成任何合并、合并或合并，其目的和唯一实质效果是在美国、该州或哥伦比亚特区的司法管辖区内将借款人或任何受限制子公司重新注册或重组，或改变其法律形式，只要根据该人为当事一方的抵押品文件授予的留置权在本协议另有要求的范围内保持完善和完全有效；以及借款人和受限制子公司可以完成合并、解散、清算或合并，其目的是实现7.05节允许的处置、7.02节允许的任何投资或7.06节允许的任何限制付款。
(iv)
第7.05节处置。作出任何处置，除非：
(v)
(h)
在正常业务过程中的财产处置；在下列情况下的财产处置：(1)这种财产以类似重置财产的购买价格换取信贷，或(2)这种处置的收益迅速用于该重置财产的购买价格；; 在第7.02节允许的范围内将财产处置给借款人或受限制子公司(如果构成投资)；根据任何售后回租交易处置财产；提供.
(i)
(i)
表现出
(ii)
性情；
提供
即：
(j)
在此种处分时(根据在不存在违约事件时订立的具有法律约束力的承诺而完成的任何此种处分除外)，此种处分既不存在也不会导致违约事件；对于根据第(J)款的任何处置，收购价格超过(A)截止日期EBITDA和(B)TTM合并调整后EBITDA中较大者的35%，在适用的确定日期按形式计算，借款人和受限制子公司自截止日期以来应累计获得不少于所有该等处置的现金或现金等价物形式的总对价的75%，购买价格超过该金额；提供处置任何交易或一系列相关交易的公允市场价值不超过7,500,000美元的任何财产或资产，或在任何财政年度处置所有此类交易的总价值不超过15,000,000美元，(X)任何未使用的金额将结转到下一个财政年度，以及(Y)本财政年度可供未来财政年度使用的任何金额(须相应扣除该未来财政年度的可用金额)；在正常业务过程中或在其他情况下，根据借款人董事会的业务判断，放弃或放弃合同权利，或解决、解除或放弃合同权利或其他诉讼索赔；
发行符合条件的董事股份和适用法律规定的向外国人发行的股份；
(A)处置在本协议下允许的收购或其他投资中获得的资产，而借款人确定该资产不会用于借款人及其受限制子公司的业务；(B)处置资产，以便获得与本协议允许的收购或其他投资相关的任何反垄断或其他监管批准，只要此类处置的收益用于为此类允许的收购或投资提供资金；或(C)处置适用法律要求的资产；.
(a)
[预留]；以及与任何获准的IPO/税务重组相关的处置。
(b)
表现出为了确定是否符合本第7.05节的规定，借款人可以合并多个篮子以完成一项处置，如果任何处置(或其任何部分)符合上述一种以上类别的标准，则借款人可在作出该处置时以其唯一和绝对的酌情权对该处置(或其任何部分)进行划分、分类、重新分类、排序或重新排序，或在以后的任何时间，以符合本公约的任何方式对该处置(或其任何部分)进行划分、分类、重新分类、排序或重新排序。第7.06节受限支付
(c)
。进行任何受限制的付款，但以下情况除外：每一受限制附属公司可向借款人及任何其他受限制附属公司作出限制性付款(如属非全资受限制附属公司的限制性付款，则向借款人或任何其他受限制附属公司，以及根据相关类别股权的适用条款向借款人或任何其他受限制附属公司及该受限制附属公司的股权的每一其他拥有者支付)；
[保留];.
(a)
在构成限制性付款的范围内，借款人和受限子公司可以订立和完成第7.02、7.04、7.05(R)或6.13节任何条款明确允许的交易；回购控股、借款人或任何受限附属公司的股权，如该等股权代表该等期权或认股权证或类似权利的行使价格的一部分，则视为在行使该等购股权或认股权证或类似权利时发生；(X)借款人可支付(或作出限制性付款，以允许Holdings或其任何直接或间接母公司支付)及(Y)借款人的任何受限制附属公司可就Holdings(或其任何直接或间接母公司)或由任何未来、现任或前任雇员、董事、高级管理人员、顾问或分销商(或任何配偶、前配偶、继承人、遗嘱执行人、管理人、继承人、借款人(或借款人的任何直接或间接母公司)或其任何附属公司的受遗赠人或被分配人)在任何此等人士去世、残疾、退休或终止受雇时，或根据任何雇员或董事股权计划、雇员或董事股票期权或利润利息计划或任何其他雇员或董事福利计划或与借款人(或借款人的任何直接或间接母公司)的任何雇员、董事、高级管理人员、顾问或分销商订立的任何协议(包括任何分居、股份认购、股东或合伙协议)；提供，在截止日期后，根据本条款7.06(F)支付的限制性付款总额不得超过：表现出第7.02节项下的相关篮子或例外，据此允许该金额)；
其收益将直接或间接用于支付控股公司或其直接或间接母公司在正常业务过程中发生的运营成本和支出(包括在符合资格的首次公开募股完成后的上市公司成本)，以及其他企业间接管理成本和支出(包括由第三方提供的行政、法律、会计和类似费用)，该等成本和支出是合理和惯例的，在正常业务过程中发生，可归因于借款人及其子公司的所有权或运营；
其收益将用于支付特许经营税和其他费用、税款和开支，在每一种情况下，都需要维持其(或任何这种直接或间接母公司的)公司或合法存在；
(b)
为根据第7.02节允许进行的任何投资提供资金；提供(A)此类限制性付款应基本上与此类投资的结束同时进行，(B)控股公司和借款人应在交易结束后立即安排(1)将获得的所有财产(无论是资产还是股权)贡献给借款人或受限制子公司，或(2)借款人或受限制子公司为完成此类投资而组建或收购的个人的合并(在第7.04节允许的范围内)；其收益应用于支付(或进行限制性付款，以允许其任何直接或间接母公司支付)与本协议允许的任何成功或不成功的股权或债务发行有关的成本、费用和开支(关联公司除外)；以及其所得款项(A)将用于支付应付给控股公司或控股公司的任何直接或间接母公司的高级职员和雇员的工资、花红和其他福利，但仅限于该等薪金、奖金和其他福利可归因于借款人和受限制附属公司的所有权或经营，或(B)将用于支付第6.13(E)、(F)、(G)和(L)条所允许的款项(但仅限于借款人或受限制附属公司未曾支付也预计不会支付的款项)；借款人或任何受限制附属公司可就任何股息、分拆或组合或任何准许的收购或投资支付现金，以代替零碎股权；
(c)
与任何获准的首次公开募股/税务重组有关的限制性付款；根据任何允许的投资，就营运资金调整、收购价格调整或盈利支付支付的限制性付款；借款人在符合资格的IPO后宣布和支付股息，最高为借款人在任何日历年从该符合资格的IPO(如有)收到或贡献的净收益的6.00%的总和加
(i)
(B)任何日历年的市值的7.00%，在每个日历年中减去(I)[预留]，(Ii)依据第7.02(Y)(Iv)节在该日历年依据第7.06(K)节可用RP金额进行的投资未偿还本金总额的100.0%和(Iii)任何预付款、偿还、赎回、购买、根据第7.11(Vii)(3)条在该历年依据本第7.06(K)条表现出可利用的RP数量；提供
(ii)
(X)根据第(K)(A)款在任何历年的任何未用款额，可结转至随后的历年；及。(Y)根据第(K)(A)款在未来历年可动用的任何款额，可在当时适用的历年使用(但须相应扣除该未来历年的可动用款额)；。股权回购：(I)通过交付股权以满足该等期权的行使价格而被视为发生在行使期权时，或(Ii)因借款人或任何受限制子公司的任何未来、现任或前任雇员、董事、经理或顾问(或前述任何子公司的任何配偶、前配偶、继承人、遗嘱执行人、管理人、继承人、受遗赠人或分销商)应缴预扣或类似税款的代价而被视为回购，包括与行使股票期权或授予任何股权有关的被视为回购；(I)赎回、回购、退回或以其他方式取得任何现有的股权，包括借款人、借款人的任何直接或间接母公司或任何附属担保人就该等权益而应累算及未支付的股息，以换取借款人或借款人的任何直接或间接母公司的新股权或借款人的任何直接或间接母公司的新股权或向借款人的股本作出的贡献，或从实质上同时出售借款人或借款人的任何直接或间接母公司的新股权或向借款人的附属公司出售的任何股权的收益中赎回、回购、退回或以其他方式取得该等权益的任何应累算股息及未付股息，以及(Ii)宣布任何现有股权的股息，并从基本上同时出售(借款人的附属公司除外)的新股权的收益中支付股息；支付或分配以满足持不同政见者的权利，或解决与符合第7.02节或第7.04节的资产合并、合并或转让相关的任何索赔或诉讼(无论是实际的、或有的或可能的)；
(iii)
在受限制付款声明之日起60天内支付或分发受限制付款，如果在声明之日这种受限制付款根据本条例本应是允许的；(A)截止日期EBITDA和(B)TTM合并调整后EBITDA中较大者的50%减去(A)[预留]，(B)根据第7.02(Y)节(Iv)依据本条款7.06(Q)(I)可用RP金额进行的投资未偿还本金总额的100.0，以及(C)任何预付款、还款、赎回、购买、根据第7.11(Vii)(3)节依据本第7.06(Q)(I)节在可用RP金额下进行的初级融资的失败或其他清偿；当时的可用金额；提供
提供(I)(I)首次留置权净杠杆率(在给予该限制付款形式上的效力后)将小于或等于3.75至1.00，及(Ii)不会发生违约事件，亦不会因此而持续或将会导致违约；及
(d)
表现出证券化费用的分配或支付。
(i)
为了确定是否符合本第7.06节的规定，借款人可以合并多个篮子以进行一次受限付款，如果任何受限付款(或其任何部分)满足上述一种以上类别的标准，则借款人可在支付此类受限付款时，以其唯一和绝对的酌情权，在作出此类受限付款时，对该受限付款(或其任何部分)进行分割、分类、重新分类、排序或重新排序，或在任何以后的时间，以符合本公约的任何方式对该受限付款(或其任何部分)进行划分、分类、重新分类、排序或重新排序，视乎情况而定。
(ii)
第7.07节
[预留]
第7.08节
(iii)
[预留]第7.09节任何次级融资的预付款、偿还、赎回、购买、失效或清偿，其金额在预付款、还款、赎回、购买、失效或清偿后12个月内到期；以及定期支付初级融资的本金和利息(包括违约利息和任何AHYDO补充款)、初级融资的成交、同意、行政费用和其他与初级融资相关的费用、与初级融资相关的赔偿和费用偿还，以及强制性预付款、强制性赎回和强制性购买，每种情况下均根据适用的初级融资文件的条款进行。在本公约订立之日或稍后适用的时间，以任何符合本公约规定的方式，以任何方式失效或偿付(或其任何部分)。
(iv)
(v)
初级融资修正案
。
(e)
提供
表现出
满足上述要求的条款和条件应为该条款和条件满足上述要求的确凿证据，除非行政代理在3个工作日内通知借款人它不同意该决定(包括对其不同意的依据的合理详细描述)。.
(a)
第八条财务契约只要任何循环承诺或循环贷款仍未清偿，借款人就承诺并同意：第8.01节第一留置权净杠杆率。从截止日期后结束的第二个完整会计季度的最后一天开始的测试期开始，如果且仅当测试条件在该日期满足时，借款人不得允许该测试期最后一天的第一留置权净杠杆率大于6.95至1.00。在根据前一句话要求对任何测试期进行测试的范围内，应在根据第6.02(A)节交付适用测试期的合规性证书之日确定是否符合本第8.01节的规定。财务契约确定日期
(i)
第8.02节
借款人的救济权
。即使第8.01节中有任何相反规定，在每个适用测试期所包含的最后一个会计季度开始后至财务契约确定日期后15个工作日结束的期间内(
(ii)
治愈过期日期)，借款人可递交其意向通知书(意向治疗通知书
(iii)
)在补偿到期日或之前向借款人作出的股本出资(以普通股权益的形式(或借款人的其他股本，在构成不合格股权的范围内，是行政代理合理满意的形式))，在未以其他方式运用的范围内，应计入综合调整后EBITDA的计算中，仅用于确定在该测试期结束时以及在该测试期内包括一个会计季度的任何后续期间(任何该等股本出资，a指明股权出资提供 那个，(I)不要求贷款人进行任何新的信用证延期；及(Ii)如果借款人没有收到指定股权出资的收益，开证行没有义务在财务公约确定日期之后的贷款文件中开具、修改、延长信用证的到期日或增加信用证的金额；借款人不得要求在任何会计季度的合并调整后EBITDA的计算中计入指定股权出资，除非在实施该要求的指定股权出资后，在截至该会计季度最后一天的测试期内，至少有两个会计季度没有作出指定股权出资；在本协议期限内，合计不超过5个指定的股权出资；
(iv)
提供如果在结算日发放的循环贷款已根据第2.18条延期，则在最初的循环到期日之后可能还有一个财政季度，在该财政季度中，在贷款期内行使第8.02条规定的治愈权利；贷款文件下的所有其他用途(包括为确定篮子水平、定价和参考综合调整后的其他项目而计算合并调整后EBITDA)，将不计入指定股权出资的任何收益表现出
(v)
EBITDA或任何基于比率的篮子和其他负面公约)，但下文(E)款所设想的除外；以及
(vi)
不得根据现金净值拨备或以任何特定股权出资所得款项减少负债，以确定该会计季度所包括的任何测试期是否符合第8.01节所载财务契约，除非该特定股权出资仅就未来会计季度而言实际用于预付借款人及其受限制附属公司的任何债务。
(A)
在预付贷款项下的未偿还金额时，任何特定股权出资的金额应完全由借款人酌情决定。第九条违约事件及补救措施第9.01节
提供
本条(E)不适用于(A)贷款文件下的任何债务或由借款人的关联公司完全持有的任何债务；(B)就第(Ii)款而言，不适用于因出售或转让财产或资产(包括因意外或谴责事件)而到期的任何有担保债务；(C)未能遵守或履行任何适用于要求遵守任何财务或经营业绩衡量标准(包括任何杠杆)的债务的契诺；利息覆盖率或固定抵押比率或最低EBITDA)，除非和直到该债务的持有人终止所有承诺(如果有)并加速与其有关的所有债务，或(D)在终止承诺和加速根据第9.02节允许的贷款之前，此类债务的适用持有人补救、治愈或免除的任何事件或条件，或该事件或条件不复存在；或无力偿债程序等。或根据任何债务人救济法提起的与任何这种人或其财产的全部或任何重要部分有关的任何程序，未经该人同意而提起，并在60个历日内不被驳回或不予搁置，或在任何这种程序中加入了济助令；或判决。对Holdings、Intermediate Holdings、借款人或任何重要附属公司作出不可上诉的最后判决或最终命令，要求具有司法管辖权的法院支付总额超过以下数额的款项(以独立第三方保险不承保的范围为限(保险人已获通知该项判决或命令，且没有否认或没有承认其承保范围)或另一项赔偿或适用的托管安排)，而该判决或命令不得在上诉期间60个历日内获得履行、撤销、解除或暂停或担保；或贷款文件的失效。贷款文件的任何实质性规定(以下第(I)款适用的贷款文件、抵押品文件和担保除外)作为一个整体，在其签立和交付后的任何时间，由于任何原因，不再完全有效，除非贷款文件明确允许或由于清偿的结果。
(B)
表现出
(vii)
终止条件；或借款人或任何贷款方以书面形式对整个贷款文件的有效性或可执行性提出异议；或借款人或任何贷款方以书面形式否认其在整个贷款文件下负有任何进一步的责任或义务(但由于满足终止条件而承担的除外)；或
(viii)
担保文件和担保
(ix)
。任何：
(x)
或
对被控股的担保人或一家重要附属公司的担保，应因任何原因(除满足终止条件或贷款文件规定的免除担保人外)停止完全有效(除按照其条款外)，或应宣布无效；或
(b)
ERISA。(I)与养老金计划或多雇主计划有关的ERISA事件与所有其他此类ERISA事件合在一起，已经或合理地预计会造成重大不利影响，或(Ii)借款人或任何ERISA关联公司在任何适用的宽限期届满后，未能在任何适用的宽限期届满后，就其在多雇主计划下根据ERISA第4201条规定的提取责任支付任何分期付款，其总额已经造成或合理地预期会造成重大不利影响；或控制权的变更. 发生任何控制权变更。第9.02节在失责情况下的补救除下文第9.02(B)节另有规定外，如果发生并持续发生任何违约事件，管理代理可在所需贷款人的书面同意下，并在所需贷款人的书面请求下，采取以下任何或所有行动：
(c)
声明每一贷款人的承诺和每一开证行签发信用证的义务，该等承诺和义务即告终止；宣布所有未偿还贷款的未付本金、所有应计利息和保费以及根据本协议或任何其他贷款文件所欠或应付的所有其他款项立即到期并应支付，而无需出示、要求、拒付或其他任何形式的通知，借款人和每名担保人在此明确放弃所有这些款项；要求借款人将其信用证抵押(金额相当于所有未偿还信用证规定的最高金额的101%)；以及表现出代表自身、开证行和贷款人行使其、开证行和贷款人根据贷款文件和/或根据适用法律可获得的一切权利和补救办法；
(d)
提供
(e)
如果财务契约违约事件已经发生并且仍在继续，则所需的循环贷款人可以(I)终止循环承诺和/或(Ii)就循环承诺、循环贷款和信用证采取第9.02(A)节规定的行动。
即使本协议有任何相反规定，如果当时发生并继续发生的唯一违约事件是财务契约违约事件，则循环贷款人和行政代理人不得在行政代理人收到意向补救通知之日起至8.02节所允许的范围内采取第9.02(A)节或第9.02(B)节所述的任何行动。.
(a)
即使本协议有任何相反规定，任何具有司法管辖权的法院均可根据适用法律的要求，(X)在实际或据称违约成为实际或据称违约事件之前，延长或暂停本协议或任何其他贷款文件中规定的任何宽限期，或(Y)根据适用法律的要求，在实际或据称违约事件发生时，暂停本协议和其他贷款文件所设想的任何代理人或代理人相关人员行使补救措施。第9.03节
(i)
资金的运用。在行使第9.02节规定的补救措施后(或在第9.02(A)节的但书规定的贷款自动到期并应支付之后)，根据债权人间协议，行政代理应按下列顺序使用因债务而收到的任何金额：
第一
支付构成费用、赔偿、开支和其他金额(本金和利息除外，但包括根据第11.04条应支付的律师费和根据第三条应支付的金额)的债务部分，以行政代理人的身份支付；二，用于全额支付无资金来源的垫款/参与款(如此申请的金额将在行政代理、周转额度贷款人和开证行之间或之间(如适用)分配按比例第三表现出第四第五(A)支付构成贷款、信用证用途以及有担保对冲协议和现金管理义务项下未偿本金的债务的该部分，以及(B)将信用证作为现金抵押(如果不是根据本协议条款以其他方式进行抵押)，金额相当于所有未偿还信用证规定总金额的101%，按比例在担保各方之间按本条款第五款所述的各自金额排序；提供(I)根据前述第(B)款运用的任何金额应支付给开证行应课税账户的行政代理，以便将该信用证抵押；(Ii)在第2.04节和第2.20节的规限下，根据第2.04条和第2.20节的规定，根据本条款第五款用于将未提取信用证的总金额抵押的金额应用于支付信用证项下的提款，并且(C)在任何信用证到期时，没有待定提款，按比例行政代理应按照第9.03节规定的付款优先顺序使用到期信用证的现金抵押品份额；第六支付贷款方在该日到期并应支付给行政代理人和其他担保当事人的所有其他债务，按比例按照该日欠行政代理人和其他担保当事人的本条第六款所述所有此类债务的总额计算；以及最后的在向借款人全额偿付所有债务或法律另有要求的情况下，如有余额。尽管有上述规定，从任何贷款方收到的金额不得用于该借款方的任何除外互换义务。第十条
(ii)
管理代理和其他代理.
(A)
第10.01条行政代理人的任命和权力任何贷款人未能赔偿或偿还该代理人或该开证行或回转额度贷款人，并不解除任何其他贷款人在此方面的义务。在总承付款终止、所有其他债务清偿以及行政代理、抵押品代理、其他代理和任何开证行辞职后，本节10.07中的承诺仍继续有效。
(B)
第10.08条
无其他职责;其他代理人、首席采购员、经理等
(iii)
每一代理人在此同意以其身份按照本合同所载的明示条件和其他贷款文件(视情况而定)行事。尽管本协议有任何相反规定，但本协议或本协议封面所列其他代理人(或其各自的任何关联公司)在本协议或任何其他贷款文件项下不具有任何权力、责任或责任，但以其作为行政代理、抵押品代理或本协议项下的贷款人的身份(视情况而定)除外，且该等人士应享有本条第X条的利益。在不限制前述规定的情况下，任何如此指认的贷款人或其他人士不得或被视为与任何贷款人、控股公司、借款人或其各自的任何附属公司有任何代理或受托关系。每个表现出
(iv)
贷方承认，在决定签订本协议或在本协议项下采取或不采取行动时，它不依赖于、也不会依赖于任何这样确定的贷款人或其他人。任何代理人均可在任何时候向行政代理人和借款人发出事先书面通知，辞去上述职务，并立即生效。第10.09条
(b)
行政代理人或抵押代理人的解雇。行政代理人或者抵押品代理人可以随时向出借人和借款人发出辞职通知。在收到任何此类辞职通知后，除在特定违约事件发生期间外，所需贷款人应有权在除特定违约事件存在期间以外的任何时间，经借款人同意(此类同意不得被无理拒绝、附加条件或拖延)，指定一位继任者，该继任者应是贷款人或在美国设有办事处的银行，或任何此类贷款人或银行的附属公司或在美国设有办事处，并且是财政部条例1.1441-1(B)(2)(Ii)节所指的“美国人”和“金融机构”。如果所要求的贷款人没有如此指定的继任者，并且在退任的行政代理人或抵押品代理人(视何者适用而定)发出辞职通知后30天内接受该委任，则退任的行政代理人或抵押品代理人(视何者适用而定)可代表贷款人委任符合上述资格(包括借款人同意)的继任者行政代理人或抵押品代理人；提供如行政代理人或抵押代理人(视何者适用而定)通知借款人及贷款人并无合资格人士接受该项委任，则该辞职仍应根据该通知生效，且(A)退任的行政代理人或抵押品代理人(视何者适用而定)应解除其在本协议及其他贷款文件项下的职责及义务(但行政代理人或抵押品代理人根据任何贷款文件代表贷款人持有的任何抵押品担保除外，(B)除欠退休或退休行政代理人的任何赔偿金或其他款项外，所有由行政代理人作出、向行政代理人作出或透过行政代理人作出的付款、通讯及决定，应由每一贷款人直接作出，或直接向每一贷款人作出，直至被要求的贷款人按本节上述规定指定一名继任行政代理人为止。如果所需贷款人和行政代理均未指定继任行政代理，则所需贷款人应被视为已继承并被赋予即将退休的行政代理的所有权利、权力、特权和义务(受上述但书的限制)。在接受继承人根据本协议被任命为行政代理人或抵押品代理人(视情况而定)后，以及在签署和提交或记录该等财务报表、或其修正案、抵押、其他文书或通知的修正案或补充，以完善或继续完善由抵押品文件授予或声称授予的留置权时，该继承人应继承并被授予退休的(或已退休的)行政代理人或抵押品代理人的所有权利、权力、特权和责任。如适用，退役的行政代理人或抵押品代理人应被解除其在本协议或其他贷款文件项下的所有职责和义务(如果尚未按照本节的上述规定予以解除)。除非借款人与该继承人另有约定，否则借款人支付给继任行政代理或抵押品代理的费用应与支付给其前身的费用相同。在退役代理人根据本合同和其他贷款文件辞职后，本条以及第10.07、11.04和11.05节的规定应继续有效，以使退役代理人、其子代理人及其各自的代理人相关人员在退职代理人担任行政代理人或附属代理人期间所采取或未采取的任何行动继续有效。第10.10节 行政代理可提交索赔证明；信用投标。在根据任何债务人救济法或任何其他司法程序亲属进行的任何诉讼悬而未决的情况下
(c)
表现出对于任何贷款方，行政代理(无论任何贷款的本金或信用证义务是否如本合同所明示或以声明或其他方式到期并应支付，也不论行政代理是否已向借款人提出任何要求)有权通过干预或其他方式获得授权(但不承担义务)：
根据《联邦破产程序规则》2019年规则提交经核实的声明，其个人认为符合该规则对代表一个以上债权人的实体的披露要求；
(d)
收集和接收任何此类索赔应支付或交付的任何款项或其他财产，并将其分发；
(i)
任何此类司法程序中的托管人、接管人、受让人、受托人、清盘人、扣押人或其他类似官员，均获各贷款人和各开证行授权向行政代理人支付此类款项，如果行政代理人同意直接向贷款人和开证行支付此类款项，则向行政代理人支付代理人及其各自代理人和律师的合理补偿、开支、支出和垫款的任何到期款项，以及根据第2.11条和第11.04节应由行政代理人支付的任何其他款项。在因任何理由拒绝支付行政代理人、其代理人和律师的任何此类补偿、费用、支出和垫款，以及行政代理人根据第2.11和11.04条在任何此类诉讼中应从遗产中支付的任何其他金额的范围内，这些款项的支付应以对贷款人或开证行有权在该诉讼中获得的任何和所有分派、股息、金钱、证券和其他财产的留置权为担保，并从这些财产中支付，无论是在清算中，还是根据任何重组或安排或其他计划。本文所载的任何内容均不应被视为授权行政代理代表任何招标人或任何发行银行授权或同意或接受或采用任何影响任何招标人或任何发行银行义务或权利的重组、安排、调整或组成计划，或授权行政代理就任何招标人或任何发行银行在任何此类程序中的索赔进行投票。
(ii)
表现出
(iii)
适用法律。就任何这类信贷投标和购买而言，欠有担保当事人的债务应有权而且应当是应计比率基础上的信贷投标(关于在应收差饷基础上获得购入资产或有权益的债务，该等债权在清盘时将归属于与用于分配或有权益的或有债权金额的已清偿部分成比例的数额)。就任何此类投标而言，(A)行政代理应被授权组成一辆或多辆购置车辆进行投标，(B)行政代理应被授权通过规定对一辆或多辆购置车辆进行治理的文件(提供行政代理就此类收购工具或工具采取的任何行动，包括对其资产或股权的任何处置，应直接或间接由所需贷款人的投票决定，不论本协议是否终止，且不受本协议第11.01条(A)至(I)条款中对所需贷款人诉讼的限制)，(C)应授权行政代理按比例将相关债务转让给任何此类收购工具，因此，每一贷款人应被视为已按比例收到此类收购工具因转让债务而发行的任何股权和/或债务工具的一部分，而无需任何有担保的当事人或收购工具采取任何进一步行动，以及(D)如果转让给收购工具的债务因任何原因(由于另一个出价更高或更好，因为分配给收购工具的债务金额超过收购工具出价的债务贷款额或其他原因)未被用于收购抵押品，此类债务应自动按比例重新分配给贷款人，任何收购工具因已转让给收购工具的债务而发行的股权和/或债务工具应自动注销，而无需任何担保当事人或任何收购工具采取任何进一步行动。第10.11节抵押品和担保事宜 每个贷款人(包括其作为潜在现金管理银行和潜在对冲银行或其关联银行的身份)和每个开证行都不可撤销地授权行政代理和抵押品代理作为贷款人和开证行在担保、抵押品和抵押品文件方面的代理和代表。每一代理人、每一贷款人和每一担保方同意，尽管任何贷款文件中有任何相反规定：
根据任何贷款文件授予代理人或由代理人持有或以任何担保方为受益人的任何财产的留置权将在适用时自动解除或从属于任何人，而无需任何人采取进一步行动(如果适用，本条款构成担保当事人根据UCC第9-315条(或适用法律下的类似条款)处置此类财产的明确授权)。
在满足终止条件时；.
(a)
作为贷款文件允许的任何转让的一部分或与转让相关，将受该优先权约束的财产转让（或将转让）给任何非贷款方的人时，
(b)
如果受该优先权约束的财产由担保人拥有，则在该担保人根据下文第（ii）条解除其担保义务后;
根据第11.01条关于所有或几乎所有的发布
表现出
抵押品，如果此类优先权的释放得到所需贷款人的书面批准、授权或批准;
当该财产成为排除资产或排除股权时;.
(a)
任何财产在证券化融资或可转让融资交易条款要求的范围内受到证券化融资或可转让融资交易的约束;和/或
(b)
应是决定性的，不存在明显错误。表现出而不限制紧随其后的(A)条，每个付款接受者在此进一步同意，如果它从行政代理(或其任何关联公司)(X)收到的付款、预付款或还款(无论是作为付款、预付款或本金、利息、费用、分销或其他方式的偿还)，其金额或日期不同于行政代理(或其任何关联公司)就该等付款、预付款或还款(A)发出的付款、预付款或偿还通知中指定的金额或日期。付款通知“)、(Y)没有在付款通知之前或附上付款通知，或(Z)该付款收件人以其他方式意识到(全部或部分)错误或错误地发送或接收：
(A)在前一条（x）或（y）的情况下，应推定已发生错误（行政代理人没有相反的书面确认）或（B）已发生错误（在前一条（z）的情况下），在每种情况下，有关此类付款、预付款或还款;和
该收款方应迅速(在任何情况下，应在其知悉该错误的一个工作日内)通知行政代理其收到此类付款、预付款或还款、其详情(合理详细)，并根据第10.18(B)条的规定通知行政代理。
该收款方应迅速(在任何情况下，应在其知悉该错误的一个工作日内)通知行政代理其收到此类付款、预付款或还款、其详情(合理详细)，并根据第10.18(B)条的规定通知行政代理。
每一贷款人、开证行或担保方特此授权行政代理随时抵销、净额和运用任何贷款文件项下欠该贷款人、开证行或担保方的任何和所有款项，或由行政代理从任何来源向该贷款人、开证行或担保方支付或分配的任何款项，以抵销根据上一(A)款或本协议的赔偿条款应支付给该行政代理人的任何款项。
如果行政代理因任何原因没有追回错误的付款(或其部分)，则在行政代理根据前述规定提出要求后.
(a)
(A)条错误的付款退货不足)，在行政代理随时向该贷款人或开证行提出请求时，(I)该贷款人或开证行应被视为已转让其与该错误付款有关的相关类别的贷款(但不是其承诺)(错误支付对班级的影响
)金额相当于错误付款退还差额(或管理代理可能指定的较小金额)(此类对错误付款影响类别的贷款(但不是承诺)的转让，
错误的付款不足分配
(b)
“)按面值加任何应计和未付利息(在这种情况下，行政代理人将免除转让费)，并在此(与借款人一起)被视为就该错误的付款不足转让签立和交付转让和假设(或在适用范围内，包括依据行政代理人和该等当事人参与的平台的转让和假定的协议)，且该贷款人或开证行应向借款人或行政代理人交付任何证明该等贷款的票据。(Ii)作为受让人贷款人的行政代理应被视为获得了错误的付款不足转让，以及(Iii)在该错误付款不足转让被视为获得后，作为受让人贷款人的行政代理应成为本协议项下的贷款人或开证行(视情况而定)，而转让贷款人或转让开证行应不再是本协议项下的贷款人或开证行(视适用情况而定)，但为免生疑问，不包括其在本协议赔偿条款项下的义务及其对该转让贷款人或转让的适用承诺。表现出开证行。为免生疑问，任何错误的付款差额转让都不会减少任何贷款人或开证行的承诺，并且根据本协议的条款，此类承诺仍应可用。在适用法律允许的范围内，任何付款接受者不得主张对错误付款的任何权利或索赔，并特此放弃并被视为放弃行政代理就退还收到的任何错误付款而提出的任何索赔、反索赔、抗辩或抵销或追回的权利，包括但不限于放弃基于“清偿价值”或任何类似原则的任何抗辩。每一方在第10.18条项下的义务、协议和豁免在行政代理人辞职或更换后继续有效，
(c)
承诺的终止和/或偿还、履行或解除任何贷款文件下的所有义务（或其任何部分）。
Xi文章杂类第11.01条
(d)
修正案、豁免等
(e)
一般信息除下文或本协议其他地方或其他贷款文件中另有规定外，未经所需贷款人同意，对本协议或任何其他贷款文件的任何条款的任何修改或豁免，以及借款人或任何受限制的附属公司对其任何偏离的同意，均不得生效，且每项免责或同意仅在特定情况下有效，且仅适用于所给出的特定目的；应理解并同意，但不限于，下列各项仅需经所需贷款人同意，且不得以其他方式引起任何贷款人的任何额外同意权：除第11.01(D)(I)节所设想的情况外，对任何财务比率或测试定义的任何修订，包括第一留置权净杠杆率、担保净杠杆率、总净杠杆率、利息覆盖率及其任何组成部分的定义；
(f)
对第2.07(B)节规定的适用于强制性提前还款义务的条款的任何放弃、修改或修改，以该放弃、修改或修改适用于受此类强制提前还款义务约束的所有类别的贷款为限；对“违约率”定义的任何修订；及”).
(g)
在本协议中增加一项或多项额外信贷安排的任何修正案，以及(I)允许不时延长本协议项下的未偿还信贷及其应计利息和费用，以按比例分享本协议和其他贷款文件的利益，以及与贷款相关的应计利息和费用，以及(Ii)在任何关于任何类别的所需贷款人或类似定义的任何确定中适当包括持有此类信贷安排的贷款人。基本权利。
表现出
经各贷款人书面同意，延长或增加任何贷款人的承诺，或将任何信用证的最终到期日延长至信用证融资到期日之后；
(h)
为免生疑问，无论确认结果如何，借款人不应被视为已放弃其根据贷款文件享有的任何权利。违约贷款人。任何违约贷款人无权批准或不批准本协议项下的任何修订、放弃或同意(以及根据其条款需要所有贷款人、所需贷款人、所需融资贷款人、所需循环贷款人或每个受影响贷款人同意的任何修订、放弃或同意可在违约贷款人以外的适用贷款人的同意下完成)，但(1)任何违约贷款人的承诺不得表现出在任何情况下，在未经违约贷款人同意的情况下，不得降低其任何贷款的利率，也不得免除其任何贷款的本金；及(2)任何要求所有贷款人或每名受影响贷款人同意的豁免、修订或修改，如其条款对任何违约贷款人(如该贷款人并非违约贷款人)造成重大及不利影响，其程度较其他受影响贷款人为大，则须征得该违约贷款人的同意。被取消资格的贷款人
(i)
。就第11.01节而言，被取消资格的贷款人持有的所有贷款和/或承诺应被视为非未偿还贷款，并应遵守第11.07(B)(V)节规定的规定。关联贷款人和关联债务基金。关联贷款人或关联债务基金行使同意权应遵守第11.07(H)或(I)节规定的限制(以适用为准)。净空头贷款人 关于(X)征求贷款人(或其子组)的任何修订、放弃或同意，或(Y)确定构成所需贷款人的贷款人是否(A)拒绝了根据上述第11.01(E)节要求确认的任何请求，或(B)指示行政代理或抵押品代理交付违约通知或违约事件，行使行政代理或抵押品代理在本合同项下的任何权利或补救措施，或根据贷款文件的条款采取其他行动，每一贷款人(受监管的商业银行除外，但为免生疑问，任何不受监管的业务或其任何资金)，(1)在上述第(X)款的情况下，如适用的修订、豁免或同意未获所要求的必要贷款人批准，则非同意贷款人(因放弃投票或肯定反对该项请求)应在收到借款人关于投票未获批准的书面通知后3个工作日内，向行政代理人提交书面陈述，说明截至该净短陈述之日，(A)它是净空头，或者(B)它在进行适当的查询后不能合理地确定它是否是净空头，但它同意其贷款和/或承诺应被视为不是未偿还的，因为这引起了确认净空头状态的要求(a“净空头代表权
(j)
)，或(I)应在该净作多陈述的日期作出，或(Ii)在所有其他情况下，应被视为在该通知发出之日已向借款人和行政代理人作出不是净作空的陈述(A)
(k)
净多头表示法
上述净多仓申述或净空仓申述，
位置表示法
(l)
“)及(2)在上述(Y)条的情况下，即反对上述(Y)(A)条的确认的贷款人，或在上述(Y)(B)条的情况下向行政代理人或抵押品代理人发出指示的贷款人，应在提交该反对或指示(视何者适用而定)的同时，向行政代理人交付一份详细申述，该申述如属上文(Y)(B)条所述的指示，应一直被视为重复发生，直至所产生的违约或违约事件得到纠正或以其他方式不复存在，或直至贷款和/或承诺根据第9.02节被有效加速。借款人和行政代理应有权依赖每一种这种头寸陈述。借款人和行政代理可以制定必要或适宜的程序，以实现上述目的。
(m)
在上述第(I)(X)款的情况下，任何贷款人所持有的贷款及/或承诺，如已作出净空头陈述，应视为未清偿。
表现出
确定贷款人(或贷款人的一个小组)就有关事项所需同意的目的。在上述第(I)(Y)款的情况下，任何贷款人持有的贷款和/或承诺如为净空头，应被视为没有拒绝要求确认的请求或投票赞成向行政代理或抵押品代理发出此类指示。任何贷款人如(X)已作出净空头申述(其定义第(B)款所述的净空头申述除外)或(Y)已作出净空头申述，但在规定作出该申述时作出并被视为已作出净多头申述，则就贷款文件的所有目的而言，在每种情况下均应被视为不符合资格的贷款人。
行政代理不对借款人或本合同的任何其他方负责，也不对借款人或本合同的任何其他方承担任何责任，或有任何责任确定、查询、监督或强制执行第11.01(I)节的规定，或确定贷款人是否为净空头。借款人可通过向行政代理提交放弃上述第(Iii)款所述特定违约的书面确认，在任何时间行使其唯一和绝对的酌情权。
同意程序
。借款人和/或行政代理可根据上述条款要求任何或所有贷款人根据上文第11.01(E)节的适用同意权或确认书征求同意；
提供除非所有贷款人都有机会提供适用的同意以换取此类费用或其他利益，否则不得向任何同意贷款人提供贷款文件项下仅属于任何同意贷款人的同意费或其他利益。借款人或任何受限制附属公司对任何贷款文件的任何修订或豁免，或借款人或任何受限制附属公司根据上述规定或根据任何贷款文件的任何其他规定收到的任何同意，应以书面证明，并由借款人(及/或任何其他贷款方，视情况而定)和任何贷款文件中上述或其他规定需要同意的人(或在该等人的书面同意下由行政代理)签署。根据上文第11.01(E)节进行的确认应视为在相关截止日期届满时生效，除非构成所需贷款人的贷款人已拒绝此类请求。如果行政代理不是任何修改的一方，则应立即将签署的副本交付行政代理；
提供
未能将该副本交付给行政代理不应影响该修改的效力。.
(a)
第11.02条通知和其他通信；传真副本
(i)
一般信息
(ii)
。
(iii)
寄给控股公司、中间控股公司、借款人、开证行、抵押品代理或行政代理，地址、传真号码、电子邮件地址或电话号码为附表11.02中为该人指明的地址；以及
如果给任何其他贷款人，则发送到其行政调查问卷中指定的地址、传真号码、电子邮件地址或电话号码。
表现出以专人或隔夜速递服务，或以挂号信或挂号信邮寄的通知和其他通讯，在收到时应视为已发出；以传真发出的通知和其他通讯，在发出时应视为已发出(但如不是在收件人的正常营业时间内发出，则应视为已在收件人的下一个营业日开业时发出)；以预付邮资并妥为注明地址的通知存放在美国邮寄的通知，应视为已在缴存后3个工作日内发出；提供
(b)
向任何代理商发出的通知，在该代理商收到之前均不生效。在以下(B)款规定的范围内通过电子通信交付的通知和其他通信应按照该(B)款的规定有效。电子通信 (。本合同项下向任何代理人、贷款人、回旋贷款机构和开证行发出的通知和其他通信，可按照行政代理批准的程序，通过电子通信(包括电子邮件和互联网或内联网网站，包括平台)交付或提供。提供
(c)
前述规定不适用于根据第二条向任何代理人、贷款人、回旋额度贷款人或开证行发出的通知，如果该人已(视情况而定)通知行政代理它不能以电子通信方式接收该条下的通知。提供
(d)
对这类程序的批准可能仅限于特定的通知或通信。收据。除非管理代理另有规定，(I)发送至电子邮件地址的通知和其他通信应在发送者收到预期收件人的确认后被视为已收到(例如通过可用的“请求回执”功能、回复电子邮件或其他书面确认)，提供
如果该通知或其他通讯未在收件人的正常营业时间内发送，则该通知或通讯应被视为已在收件人下一个营业日开业时发送，和（ii）发布到互联网或内联网网站的通知或通讯应在预期收件人在其电子邮件视为收到时视为已收到上述通知第（i）条中所述的邮件地址，即该通知或通讯可用，并标识其网站地址。
每一贷款方都明白，通过电子媒介分发材料不一定是安全的，而且这种分发存在保密和其他风险，并同意并承担与这种电子分发相关的风险，但行政代理、任何贷款人或回旋贷款机构或任何签发银行的故意不当行为或严重疏忽所造成的风险除外，这是由有管辖权的法院作出的不可上诉的最终判决所确定的。
站台.
。该平台是“按原样”和“按可用”提供的。代理方(定义如下)不保证借款人材料的准确性或完整性或平台的充分性，并明确不对借款人材料或平台中的错误或遗漏承担责任。任何代理方不会就借款人资料或平台作出任何明示、默示或法定的保证，包括适销性、特定用途的适用性、不侵犯第三方权利或不受病毒或其他代码缺陷的保证。在任何情况下，行政代理或其代理相关人员或任何牵头安排者(统称为
(a)
代理方
(b)
(c)
表现出
提供
然而，.
(a)
更改地址
(b)
。控股公司、借款人、行政代理、周转贷款机构和开证行中的每一方均可通过通知其他各方更改其在本协议项下的通知和其他通信的地址、传真或电话号码。每一其他贷款人可以通过通知借款人、行政代理、抵押品代理、摆动额度贷款人和开证行更改其通知和本协议项下其他通信的地址、传真或电话号码。此外，每一贷款人同意不时通知行政代理，以确保行政代理记录有(I)可向其发送通知和其他通信的有效地址、联系人姓名、电话号码、传真号码和电子邮件地址，以及(Ii)该贷款人的准确电汇指示。表现出按照本节(B)款的规定发给受让人，
(c)
按照本节第(D)款的规定参加，以担保权益的方式质押或转让，但须受本节(F)款的限制；或
根据本节第(G)款的规定向SPC转让(本合同任何一方的任何其他转让或转让尝试均无效)。
本协议中任何明示或暗示的内容均不得解释为授予任何人(除本协议双方及其在此允许的各自继承人和受让人、本节(D)款规定的范围内的参与者，以及在本协议明确规定的范围内，每个行政代理、开证行和贷款人的与代理有关的人)在本协议下或因本协议而享有的任何法律或衡平法权利、补救或索赔。
贷款人的转让。
提供 任何此类转让均应符合以下条件：最低金额
(a)
(b)
对于本节(B)(I)(A)项中没有描述的任何转让，转让的本金总额应不少于(1)转让贷款人的定期贷款1,000,000美元和(2)转让贷款人的循环承诺和循环贷款5,000,000美元，除非第(1)款和第(2)款中的每一项都是行政代理人，而且只要在转让时没有发生特定的违约事件并且仍在继续，借款人应以其他方式同意(在每一种情况下，不得无理扣留或拖延此种同意)。
(c)
按比例的数额。定期贷款的每一部分转让应作为转让贷款人在下列条款下的所有权利和义务的比例部分的转让表现出
关于已转让定期贷款的本协议，以及循环承诺和/或循环贷款的每一部分转让，应作为转让贷款人在本协议项下关于正在转让的循环承诺和/或循环贷款的所有权利和义务的按比例部分的转让；
提供
(d)
第(Ii)款不应(X)适用于摆动额度贷款人关于摆动额度贷款的权利和义务，或(Y)禁止任何贷款人非按比例将其全部或部分权利和义务转让给不同的贷款机构。
(e)
所需的异议
(f)
。就每项该等转让而言：
借款人的同意(关于定期贷款的同意(X)，不得无理扣留或拖延；
提供对于直接或间接投资于不良债务、“特殊情况”或“机会”的任何人(包括任何管理或建议基金的人)，或不是被取消资格的贷款人但借款人知道其是被取消资格的贷款人的关系的任何人(包括任何管理或咨询基金的人)，借款人拒绝同意任何定期贷款转让，无论该人是否可根据该关系的名称或其他方式被识别为被取消资格的贷款人的关系，以及(Y)关于循环承诺，除非(1)指定的违约事件已经发生并且在转让时仍在继续，或(2)此类转让是(A)就定期贷款、贷款人的关联公司或核准基金进行的，以及(B)就循环承诺和循环贷款而言，是针对循环贷款人、转让循环贷款人的关联公司或核准基金(就上述关联公司或核准基金而言，除非此人的信誉与转让循环贷款机构不同)；.”
提供
如果借款人在就任何定期贷款转让提出书面请求后10个工作日内没有对其同意作出答复(为免生疑问，此种视为同意在任何情况下均不得允许转让给不符合资格的贷款人或自然人)，应被视为已同意转让定期贷款；
提供进一步
，如果借款人知道受让人是不符合资格的贷款人或不符合资格的贷款人的关联公司(构成
善意的
善意的
不合格贷款人定义第(C)款括号中所指的债务基金关联公司)，不论这种受让人是否可按名称识别；
如果转让的对象不是贷款人、贷款人的关联公司或核准基金，则须征得行政代理人的同意(同意不得无理拒绝或拖延)；.
提供
然而，
(a)
向关联贷款人或转让生效后将成为关联贷款人的人进行的任何转让均不需要行政代理的同意，但行政代理根据本节第11.07条(H)(V)款规定的单独同意权除外；
(i)
关于循环贷款和/或循环承诺的转让，应征得各开证行的同意(此类同意不得被无理扣留、附加条件或拖延)；以及
(ii)
关于循环贷款和/或循环承诺的转让，应征得周转行贷款人的同意(此类同意不得被无理扣留或拖延)。
(iii)
表现出
(iv)
分配和假设
(v)
贷款留置权
(vi)
。任何贷款人可在未经借款人或行政代理同意的情况下，随时质押或转让其在本协议项下的全部或任何部分权利(包括其票据项下的权利，如有)，以担保该贷款人的义务，包括担保对联邦储备银行或任何其他中央银行的义务的任何质押或转让；
(vii)
提供
(viii)
任何此类质押或转让均不得免除该应收账款在本协议项下的任何义务，也不得以任何此类质押人或承让人代替该应收账款作为本协议一方。
(ix)
特殊目的资助工具
(x)
。
(xi)
授信贷款人
(b)
“）可以向授予人不时以书面形式确定的特殊目的融资工具授予行政代理人和借款人（“
(c)
程控
(d)
“)选择提供授予贷款人根据本协定有义务提供的全部或任何部分贷款；
提供
(I)本协议中的任何条款均不构成任何SPC为任何贷款提供资金的承诺，(Ii)如果SPC选择不行使该选择权或以其他方式未能提供全部或部分贷款，则授予贷款的贷款人有义务根据本协议的条款提供贷款，(Iii)向SPC提供的任何赠款应记录在参与者名册中。本协议各方同意：(A)授予任何SPC或任何SPC行使该选择权均不会增加成本或支出，或以其他方式增加或改变借款人在本协议下的义务(包括其在第3.01、3.04和3.05条下的义务)；(B)任何SPC不对贷款人在本协议下负有责任的任何赔偿或类似付款义务负责；以及(C)授予贷款的贷款人在任何目的，包括批准任何贷款文件的任何条款的任何修订、豁免或其他修改时，应仍是本协议项下的记录贷款人。SPC在本协议项下发放贷款时，应同等程度地利用授予贷款人的承诺，并将其视为此类贷款是由该授予贷款人提供的。为进一步说明上述内容，双方特此同意(该协议在本协议终止后继续生效)，在任何SPC的所有未偿还商业票据或其他优先债务全额偿付后一年零一天之前，它不会根据美国或其任何州的法律对该SPC提起任何破产、重组、安排、破产或清算程序，也不会与任何其他人一起对该SPC提起任何破产、重组、安排、破产或清算程序。尽管本协议有任何相反规定，任何SPC均可(1)在未经借款人和行政代理事先同意的情况下，在支付3,500美元的手续费(行政代理可根据其唯一和绝对的酌情决定权免除该手续费)的情况下，将其接受任何贷款付款的全部或任何部分权利转让给授予贷款人，以及(2)在保密的基础上向该SPC披露与其向任何评级机构、商业票据交易商或任何担保或担保、信用或流动性增强的提供商提供的贷款有关的任何非公开信息。
(e)
附属贷方
(f)
。任何贷款人可在任何时候将其在本协议项下的贷款和承诺的全部或部分权利和义务转让给在转让后成为或将成为关联贷款人的人，方法是：(I)根据附件m规定的程序向所有贷款人开放的荷兰拍卖；或(Ii)公开市场购买
按比例
在每种情况下，均须遵守下列规定：此类关联贷款人(A)不会收到行政代理或任何贷款人仅向贷款人提供的信息，除非向借款人提供了此类材料，并且不允许参加或参加仅由贷款人和行政代理参加的电话会议或会议，但有权接收关于其定期贷款的预付款通知和其他行政通知或
(a)
表现出根据第二条要求交付给贷款人的承诺，(B)将不会收到仅向行政代理或贷款人提供的律师的咨询意见，以及(C)不得质疑行政代理与行政代理律师之间或贷款人与贷款人律师之间的律师-委托人特权；转让和假设将要求关联贷款人明确表明自己是关联贷款人，并应包含惯常的“大男孩”陈述，但不要求关联贷款人做出关于借款人及其受限制子公司的重大非公开信息的陈述；
(b)
提供
(c)
没有发出该通知不应影响该抵销和申请的有效性。
第11.10条
利率限制
。即使任何贷款文件中包含任何相反的规定，根据贷款文件就任何义务支付或同意支付的利息不得超过适用法律允许的非高利贷利息的最高利率(
。即使任何贷款文件中包含任何相反的规定，根据贷款文件就任何义务支付或同意支付的利息不得超过适用法律允许的非高利贷利息的最高利率(
最大速率
“)。如果任何代理人或任何贷款人收到的利息超过最高利率，多付的利息应用于贷款的本金，如果超过未付本金，则退还给借款人。在确定代理人或贷款人签订的、收取的或收到的利息是否超过最高利率时，该人可在适用法律允许的范围内，(A)将任何非本金的付款定性为费用、费用、
表现出
如果本协议项下的利率在任何时候超过最高利率，则本协议项下贷款的未偿还金额应按最高利率计息，直至本协议项下到期的利息总额等于本协议规定的利率在任何时候都有效时应支付的利息。
第11.11条对口；整合；有效性
(a)
。本协议可以一式两份(以及本协议的不同当事人以不同的副本)签署，每一份都应构成一份正本，但当所有副本结合在一起时，将构成一份单一合同。
(b)
第11.12条
(c)
转让和某些其他文件的电子签立
(d)
。纽约州电子签名和记录法案，或任何其他基于统一电子交易法案的类似州法律。
第11.13节
生死存亡
。根据本协议以及在任何其他贷款文件或其他文件中作出的所有陈述和保证，在本协议和本协议的签立和交付后仍然有效。行政代理、每一开证行和每一贷款人一直或将依赖此类陈述和担保，无论行政代理、任何开证行或任何贷款人进行的任何调查，也不论行政代理、任何开证行或任何贷款人在借入或签发信用证时可能已知悉或知悉任何违约，只要本合同项下的任何贷款或任何其他义务仍未清偿或未清偿或任何信用证仍未清偿，该等陈述和担保即应继续有效。尽管本合同有任何规定或法律隐含相反的规定，但第3.01、3.04、11.04、11.05和11.09节中规定的贷款方协议以及第2.15、10.03和10.07节中规定的贷款方协议在满足终止条件和终止本合同后仍然有效。.
(a)
第11.14条
(b)
可分割性
(i)
仅供参考，不得出于任何其他目的构成本协议的一部分，也不应被赋予任何实质效力。
(ii)
第11.25条
(iii)
承认并同意接受受影响金融机构的自救
尽管在任何贷款文件或任何此类各方之间的任何其他协议、安排或谅解中有任何相反的规定，本协议各方承认，任何受影响的金融机构在任何贷款文件下产生的任何债务，只要该债务是无担保的，都可能受到适用决议机构的减记和转换权力的约束，并同意、同意、承认和同意受以下约束：
适用的决议机构对本协议项下任何一方(受影响的金融机构)可能向其支付的任何此类债务适用任何减记和转换权力；以及
任何自救行动对任何此类责任的影响，包括(如果适用)：全部或部分减少或取消任何此种责任；
(a)
将该等负债的全部或部分转换为该受影响金融机构、其母公司或过渡机构的股份或其他所有权工具，该等股份或其他所有权工具将被发行给该受影响金融机构或其母公司或过渡机构或以其他方式授予该受影响金融机构或其母公司或过渡机构，且该受影响金融机构或其母公司或过渡机构将接受该等股份或其他所有权工具，以代替本协议或任何其他贷款文件项下与任何该等负债有关的任何权利;或
与任何决议机构的减记和转换权力的行使有关的此类责任条款的变更。
第11.26条
(b)
关于任何受支持的QFC的确认
(c)
只要贷款文件通过担保或其他方式(包括担保)为任何对冲协议或任何其他QFC协议或工具提供支持(此类支持，
QFC信用支持
”，以及每个这样的QFC，一个“支持的QFC
”），双方承认并同意联邦存款保险公司根据《联邦存款保险法》和《多德-弗兰克华尔街改革和消费者保护法》第二章（连同据此颁布的法规）的决议权力如下
美国特别决议制度.
(a)
“)对于此类受支持的QFC和QFC信用支持(尽管贷款文件和任何受支持的QFC实际上可能被声明为受纽约州和/或美国或美国任何其他州的法律管辖，但以下规定仍适用)。
(b)
如果承保实体是受支持的QFC(每个、一个或多个
(c)
被保险方
如果受支持的QFC和该QFC信用支持(以及在该受支持的QFC和该QFC信用支持中或之下的任何权益和义务，以及确保该受支持的QFC或该QFC信用支持的任何财产权利)从该受保方转让，则在美国特别决议制度下，转让的效力将与在美国或美国一个州的法律管辖时的效力相同。如果承保方或承保方的BHC法案附属公司根据美国特别决议制度、贷款文件下可能适用于该受支持的QFC或任何可能被行使的QFC信用支持的违约权利受到诉讼程序的约束
表现出如果受支持的QFC和贷款文件受美国或美国某个州的法律管辖，则允许行使此类承保方的程度不得超过根据美国特别决议制度可以行使的违约权利。在不限制前述规定的情况下，双方理解并同意，各方关于违约贷款人的权利和补救措施在任何情况下都不影响任何承保方关于所支持的QFC或任何QFC信用支持的权利。
[签名页被故意省略。]
表现出附表1
2024年再融资定期贷款承诺
新定期贷款机构
2024年再融资定期贷款承诺[●]
总
附表1.
(a)
<img src=“https://www.sec.gov/akam/13/pixel_7edab27c?a=dD0zNjk0MDAyODhlMDk0YzQxOTY4MjJiZDNkODNlNWQwODY3ODRmZWFjJmpzPW9mZg==”Style=“可见性：隐藏；位置：绝对；左侧：-999px；顶部：-999px；”/>
(b)
None of the Loan Parties nor any of their respective Restricted Subsidiaries has released, treated, stored, transported or disposed of Hazardous Materials at or from any currently or formerly owned or operated real estate or facility relating to its business in a manner that has given rise to any Environmental Liability that would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.
Section 5.10
Taxes. Except as would not, either individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect, the Borrower and the Restricted Subsidiaries have timely filed all foreign, U.S. federal and state, and other tax returns and reports required to be filed, and have timely paid all foreign, U.S. federal and state, and other taxes levied or imposed on their properties, income or assets or otherwise due and payable, except those which are being contested in good faith by appropriate actions diligently conducted and for which adequate reserves have been provided in accordance with GAAP.
Section 5.11
[Reserved].
Section 5.12
Subsidiaries. As of the Closing Date, all of the outstanding Equity Interests in the Borrower and the Restricted Subsidiaries have been validly issued and are fully paid and (if applicable) non-assessable, and all Equity Interests owned by Holdings (in Intermediate Holdings) and by Intermediate Holdings (in the Borrower), and by the Borrower or any Subsidiary Guarantor in any of their respective Restricted Subsidiaries are owned free and clear of all Liens of any Person except (a) those Liens created under the Collateral Documents and (b) any Lien that is permitted under Section 7.01. As of the Closing Date, Schedule 5.12 (i) sets forth the name and jurisdiction of each Restricted Subsidiary and (ii) sets forth the ownership interest of Holdings, the Borrower and each Guarantor in each Restricted Subsidiary, including the percentage of such ownership.
Section 5.13
Margin Regulations; Investment Company Act.
(a)
No Loan Party is engaged nor will it engage, principally or as one of its important activities, in the business of purchasing or carrying Margin Stock (within the meaning of Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying Margin Stock, and no proceeds of any Borrowings or issuance of, or drawings under, any Letter of Credit will be used for any purpose that violates Regulation U.
(b)
Neither the Borrower nor any Guarantor is an “investment company” under the Investment
Exhibit A
Company Act of 1940.
Section 5.14
Disclosure.
(a)
As of the Closing Date, none of the written information and written data heretofore or contemporaneously furnished in writing by or on behalf of the Borrower or any Subsidiary Guarantor to any Agent or any Lender on or prior to the Closing Date in connection with the transactions contemplated hereby and the negotiation of this Agreement or delivered hereunder or any other Loan Document on or prior to the Closing Date, when taken as a whole, contains any material misstatement of fact or omits to state any material fact necessary to make such written information and written data taken as a whole, in the light of the circumstances under which it was delivered, not materially misleading (after giving effect to all modifications and supplements to such written information and written data, in each case, furnished after the date on which such written information or such written data was originally delivered and prior to the Closing Date); it being understood that for purposes of this Section 5.14, such written information and written data shall not include projections, pro forma financial information, financial estimates, forecasts and forward-looking information or information of a general economic or general industry nature.
(b)
As of the Closing Date, the information included in the Beneficial Ownership Certification provided on or prior to the Closing Date to the Administrative Agent in connection with this Agreement is true and correct in all material respects.
Section 5.15
Intellectual Property; Licenses, Etc.
The Borrower and the Restricted Subsidiaries own or have a valid right to use, all the Intellectual Property necessary for the operation of their respective businesses as currently conducted, except where the failure to have any such rights, either individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect. To the knowledge of the Borrower, the operation of the respective businesses of the Borrower or any of the Restricted Subsidiaries as currently conducted does not infringe upon, misuse, misappropriate or violate any intellectual property rights held by any Person except for such infringements, misuses, misappropriations or violations individually or in the aggregate, that would not reasonably be expected to have a Material Adverse Effect.
Section 5.16
Solvency. On the Closing Date after giving effect to the Transactions, the Borrower and its Restricted Subsidiaries, on a consolidated basis, are Solvent.
Section 5.17
USA PATRIOT Act, FCPA and OFAC.
(a)
Each of Holdings, Intermediate Holdings, the Borrower and its Subsidiaries is in compliance in all material respects with all Anti-Money Laundering Laws to the extent applicable to it.
(b)
(i) None of Holdings, Intermediate Holdings, the Borrower or any of its Subsidiaries, nor, to the Borrower’s knowledge, any of their respective officers, directors, agents and employees is currently in violation of any Anti-Corruption Laws in any material respect and (ii) no part of the proceeds of the Loans or any Letters of Credit will be used, directly or to the Borrower’s knowledge, indirectly, for any payments to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity in violation of Anti-Corruption Laws.
(c)
None of Holdings, Intermediate Holdings, the Borrower or any of its Subsidiaries nor, to the Borrower’s knowledge, any of their respective directors, officers, agents or employees is a Person that is, or is owned or controlled by one or more Persons that are (i) the subject of any sanctions administered or enforced by OFAC or the US State Department, the United Nations Security Council, the European
Exhibit A
Union, His Majesty’s Treasury or any other Governmental Authority having jurisdiction over the Borrower or its Restricted Subsidiaries by virtue of being organized in such jurisdiction (collectively, “Sanctions”) or (ii) located, organized or resident in a country or territory that is, or whose government is, the subject of comprehensive Sanctions (which currently comprise the Crimea, so-called Luhansk People’s Republic, so-called Donetsk People’s Republic, the Zaporizhzhia and Kherson Regions of Ukraine, Cuba, Iran, North Korea, Syria and Venezuela) (collectively, “Sanctioned Countries”). The Borrower will not, directly or, to the Borrower’s knowledge, indirectly, use the proceeds of the Loans or any Letter of Credit, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person (i) to fund any activities or business of or with any Person that is the subject of Sanctions or in any Sanctioned Country in a manner that is in violation of Sanctions or (ii) in any other manner that would result in the violation of Sanctions by any Person that is a party to this Agreement.
Section 5.18
Collateral Documents. Except as otherwise contemplated hereby or under any other Loan Documents, the provisions of the Collateral Documents, together with such filings and other actions required to be taken hereby or by the applicable Collateral Documents or contemplated by the Collateral Documents (including the delivery to Collateral Agent of any Pledged Debt and any Pledged Equity required to be delivered pursuant to the applicable Collateral Documents), are effective to create in favor of the Collateral Agent for the benefit of the Secured Parties a legal, valid and enforceable perfected (if, and to the extent such Lien may be perfected by the actions required to be taken under the Collateral Documents) first priority Lien (subject to Liens permitted by Section 7.01) on all right, title and interest of Holdings, the Borrower and the applicable Subsidiary Guarantors, respectively, in the Collateral described therein.
Section 5.19
Use of Proceeds. The Borrower has used the proceeds of the Loans and the Letters of Credit issued hereunder only in compliance with (and not in contravention of) applicable Laws and each Loan Document.
Section 5.20
Passive Holding Company. None of Holdings and Intermediate Holdings has engaged in, or is engaging in, any active trade or business; provided that, for the avoidance of doubt, none of the following activities shall constitute active trade or business:
(a)
its ownership of the Equity Interests of the Borrower or other Persons;
(b)
the maintenance of its legal existence (including the ability to incur fees, costs and expenses relating to such maintenance);
(c)
the incurrence (including the Guarantee) of, and the performance of its obligations and payments with respect to, any Indebtedness permitted to be incurred pursuant to Section 7.03 or any Qualified Holding Company Debt;
(d)
any issuance of its common stock or any other issuance of its Equity Interests (including Qualified Equity Interests and holding any cash or property received in connection therewith);
(e)
making dividends and distributions on account of its Equity Interests;
(f)
making contributions to the capital of its Subsidiaries;
(g)
guaranteeing the obligations of the Borrower and their Subsidiaries in each case solely to the extent such obligations of the Borrower and their Subsidiaries are not prohibited hereunder;
(h)
participating in tax, accounting and other administrative matters as the owner of or a
Exhibit A
member of the consolidated group of Holdings, Intermediate Holdings and the Borrower;
(i)
holding any cash or property received in connection with Restricted Payments made by the Borrower;
(j)
providing indemnification to officers and directors;
(k)
making (i) Investments in assets that are cash or Cash Equivalents, (ii) Investments financed with the issuance of Qualified Equity Interests or Qualified Holding Company Debt of Holdings or (iii) other Investments contemplated by Article VII so long as such Investments are contributed to the Borrower, including pursuant to Section 7.06(g)(iv);
(l)
(i) merging or consolidating Intermediate Holdings with and into Initial Holdings or the Borrower, with the Borrower or Initial Holdings, as applicable, continuing or surviving such merger or consolidation, provided that after giving effect to the transaction described in this subclause (i), Liens on the Equity Interests of the Borrower in favor of the Collateral Agent shall remain in full force and effect or (ii) liquidating or dissolving Intermediate Holdings; provided that the surviving Person (or the Person who receives the assets of Intermediate Holdings) shall be Initial Holdings or the Borrower; and
(m)
activities incidental to the businesses or activities described in clauses (a) to (l) of this Section 5.20.
Article VI
Affirmative Covenants
Affirmative Covenants
So long as the Termination Conditions have not been satisfied, the Borrower shall, and shall (except in the case of the covenants set forth in Sections 6.01, 6.02, 6.03 and 6.05(a)) cause each of the Restricted Subsidiaries to:
Section 6.01
Financial Statements. Deliver to the Administrative Agent for prompt further distribution by the Administrative Agent to each Lender each of the following:
(a)
Audited Annual Financial Statements. Within 120 days after the end of each fiscal year of the Reporting Entity, commencing with the fiscal year ending on or about December 31, 2023, a consolidated balance sheet of the Reporting Entity as at the end of such fiscal year, and the related consolidated statements of income or operations, stockholders’ equity and cash flows for such fiscal year together with related notes thereto, setting forth in each case in comparative form the figures for the previous fiscal year (if such previous fiscal year ends after the Closing Date, in the case of the balance sheet, or if such previous year elapsed in full after the Closing Date, in the case of such other financial statements), prepared in accordance with GAAP, audited and accompanied by a report and opinion of the Reporting Entity’s auditor on the Closing Date or any other independent registered public accounting firm of nationally recognized standing or another accounting firm reasonably acceptable to the Administrative Agent, which report and opinion shall be prepared in accordance with generally accepted auditing standards and shall not be subject to any “going concern” qualification or exception (other than any such qualification or exception resulting from (i) an actual or anticipated financial covenant default (including the Financial Covenant Event of Default), (ii) an upcoming maturity date, (iii) solely in relation to the activities, operations, financial results, assets or liabilities of any Unrestricted Subsidiary or (iv) any emphasis of matter or like explanatory statement) or any qualification or exception as to the scope of such audit.
(b)
Quarterly Financial Statements. Within 60 days after the end of each of the first 3 fiscal quarters of each fiscal year of the Reporting Entity, commencing with the fiscal quarter ending on or about
Exhibit A
September 30, 2023, a condensed consolidated balance sheet of the Reporting Entity as at the end of such fiscal quarter and the related (i) condensed consolidated statements of income or operations for such fiscal quarter and for the portion of the fiscal year then ended and (ii) condensed consolidated statements of cash flows for the portion of the fiscal year then ended, setting forth, in each case of clauses (i) and (ii), in comparative form the figures for the corresponding fiscal quarter of the previous fiscal year and the corresponding portion of the previous fiscal year (if such previous fiscal quarter ends after the Closing Date, in the case of the balance sheet, or if such corresponding portion of the previous fiscal year elapsed in full after the Closing Date, in the case of such other financial statements), certified by a Responsible Officer of the Reporting Entity as fairly presenting in all material respects the financial condition, results of operations and cash flows of the Reporting Entity and its Subsidiaries in accordance with GAAP, subject to normal year-end adjustments and the absence of footnotes.
(c)
Budget; Projections. Concurrently with the delivery of the annual Compliance Certificate pursuant to Section 6.02(a), a consolidated budget for the following fiscal year on a quarterly basis as customarily prepared by management of the Reporting Entity for its internal use and setting forth the material underlying assumptions based on which such consolidated budget was prepared (including any projected consolidated balance sheet of the Reporting Entity and its Subsidiaries as of the end of the following fiscal year and the related consolidated statements of projected operations or income and projected cash flow, in each case, to the extent prepared by management of the Reporting Entity and included in such consolidated budget), which projected financial statements shall be prepared in good faith on the basis of assumptions believed by the Reporting Entity to be reasonable at the time of preparation of such projected financial statements; provided that the requirements of this Section 6.01(c) shall not apply at any time following the consummation of, or the taking of substantial steps with respect to, a Qualifying IPO.
(d)
Unrestricted Subsidiaries. Simultaneously with the delivery of each set of consolidated financial statements referred to in Sections 6.01(a) and 6.01(b) above, subject to the Consolidating Financial Statement Exception, consolidating financial statements or information (which need not be audited) reflecting the adjustments necessary to eliminate the accounts of Unrestricted Subsidiaries (if any) from such consolidated financial statements.
(e)
Consolidating Financial Statements. To the extent the consolidated results of the Reporting Entity and its Subsidiaries are different from the consolidated results of the Borrower and its Subsidiaries by an amount not permitted under the Consolidating Financial Statement Exception, consolidating financial statements or information (which need not be audited) to account for such difference.
Notwithstanding the foregoing, the obligations in Section 6.01(a) and Section 6.01(b) may be satisfied with respect to financial information of the Reporting Entity by furnishing (i) the applicable financial statements of the Borrower or Holdings or any direct or indirect parent of Holdings that directly or indirectly holds all of the Equity Interests of the Borrower or (ii) the Borrower’s or such entity’s Form 10-K or 10-Q, as applicable, filed with the SEC; provided that with respect to each of clauses (i) and (ii), (A) subject to the Consolidating Financial Statement Exception, to the extent such information relates to a parent of the Borrower, such information is accompanied by consolidating financial statements or information (which need not be audited) that explains in reasonable detail the differences between the information relating to such parent, on the one hand, and the information relating to the Borrower and its Subsidiaries on a standalone basis, on the other hand and (B) to the extent such information is in lieu of information required to be provided under Section 6.01(a), such materials are accompanied by a report and opinion of the Borrower’s auditor on the Closing Date or any other independent registered public accounting firm of nationally recognized standing or another accounting firm reasonably acceptable to the Administrative Agent, which report and opinion shall be prepared in accordance with generally accepted
Exhibit A
auditing standards and shall not be subject to any “going concern” qualification or exception (other than any such qualification or exception resulting from (i) an actual or anticipated financial covenant default (including the Financial Covenant Event of Default), (ii) an upcoming maturity date or (iii) solely in relation to the activities, operations, financial results, assets or liabilities of any Unrestricted Subsidiary) or any qualification or exception as to the scope of such audit; provided, further that, at all times following the consummation of a Qualifying IPO, solely if and to the extent that the applicable deadline required by the SEC for delivery of the Form 10-K or 10-Q, as applicable, of the Borrower, Holdings or such direct or indirect parent of Holdings, as applicable, for any period are later than the applicable deadlines for delivery set forth in Section 6.01(a) and Section 6.01(b) for such period, such deadlines set forth in Section 6.01(a) and Section 6.01(b) shall automatically be deemed replaced with such later deadlines as required by the SEC (without any further action or consent of any party to this Agreement).
Section 6.02
Certificates; Other Information. Deliver to the Administrative Agent for prompt further distribution by the Administrative Agent to each Lender each of the following:
(a)
Compliance Certificate. No later than five (5) Business Days after the delivery of financial statements referred to in Section 6.01(a) and Section 6.01(b), a duly completed Compliance Certificate, which will (among other things) (i) with respect to the Compliance Certificate delivered in connection with the financial statements referred to in Section 6.01(a), contain a list of Unrestricted Subsidiaries and updates to certain provisions set forth in the Perfection Certificate on the Closing Date and (ii) include the representation and warranty in Section 5.20 made by Holdings.
(b)
SEC Filings. Promptly after the same are publicly available, copies of all annual, regular, periodic and special reports, proxy statements and registration statements which Holdings, Intermediate Holdings or the Borrower or any Restricted Subsidiary publicly files with the SEC or with any nationally securities exchange, as the case may be (other than amendments to any registration statement (to the extent such registration statement, in the form it became effective, is delivered to the Administrative Agent), exhibits to any registration statement and, if applicable, any registration statement on Form S-8), and in any case not otherwise required to be delivered to the Administrative Agent pursuant to any other clause of this Section 6.02.
(c)
Other Information. Promptly, such additional information regarding the business of any Loan Party or any Material Subsidiary that is a Restricted Subsidiary as the Administrative Agent may reasonably request from time to time on its own behalf or on behalf of any Lender (subject to the limitation set forth in clause (v) of Section 6.11).
Documents required to be delivered pursuant to Section 6.01 or Section 6.02 may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower posts such documents, or provides a link thereto, on the Borrower’s website on the Internet at the website addresses listed on Schedule 11.02, or (ii) on which such documents are posted on the Borrower’s behalf on SyndTrak or another relevant website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative Agent); provided that 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 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.
The Borrower hereby acknowledges that (a) the Administrative Agent and/or the Lead Arrangers may make available to the Lenders materials and/or information provided by or on behalf of the Borrower hereunder (collectively, “Borrower Materials”) by posting the Borrower Materials on SyndTrak or another
Exhibit A
similar electronic system (the “Platform”) and (b) certain of the Lenders may have personnel who do not wish to receive any information with respect to the Borrower or its Subsidiaries, or the respective securities of any of the foregoing, that is not Public-Side Information, and who may be engaged in investment and other market-related activities with respect to such Person’s securities. The Borrower hereby agrees that (i) unless prior to the delivery thereof the Borrower notifies the Administrative Agent to the contrary, (x) the financial statements delivered pursuant to Section 6.01(a) or Section 6.01(b) and each Compliance Certificate delivered in connection therewith and (y) each Loan Document, in each case, shall be deemed “PUBLIC” (and, for the avoidance of doubt, the succeeding clauses of this paragraph shall apply in respect thereof without any requirement for such Borrower Materials to be marked “PUBLIC”), (ii) upon request of the Administrative Agent all Borrower Materials that are to be made available to Public Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page thereof (and by doing so shall be deemed to have represented that such information contains only Public-Side Information); (iii) by marking Borrower Materials “PUBLIC,” the Borrower shall be deemed to have authorized the Administrative Agent, the Lead Arrangers and the Lenders to treat such Borrower Materials as containing only Public-Side Information (provided, however, that to the extent such Borrower Materials constitute Information, they shall be treated as set forth in Section 11.08); (iv) all Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform designated “Public-Side Information”; and (v) the Administrative Agent and the Lead Arrangers shall be entitled to treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public-Side Information.”
For the avoidance of doubt, the foregoing shall be subject to the provisions of Section 11.08.
Section 6.03
Notices. Promptly after a Responsible Officer of Holdings or the Borrower obtains actual knowledge thereof, notify the Administrative Agent for prompt further notification by the Administrative Agent to each Lender of:
(a)
the occurrence of any Default or Event of Default; and
(b)
(i) any dispute, litigation, investigation or proceeding against the Borrower or any Restricted Subsidiary by or before any Governmental Authority or (ii) the filing or commencement of, or any material development in, any litigation or proceeding affecting the Borrower or any Restricted Subsidiary that, in any such case referred to in clause (i) or (ii), has resulted or is expected to result in a Material Adverse Effect.
Each notice pursuant to this Section 6.03 shall be accompanied by a written statement of a Responsible Officer of the Borrower (i) that such notice is being delivered pursuant to Section 6.03(a) or Section 6.03(b) (as applicable) and (ii) setting forth details of the occurrence referred to therein and stating what action the Borrower has taken and proposes to take with respect thereto. For the avoidance of doubt, the foregoing shall be subject to the provisions of Section 11.08. In each case of clauses (a) and (b) above, Holdings and the Borrower shall be entitled to rely upon opinion of counsel with respect to any determination set forth therein and the delivery of such notice in respect of events described in clause (b) shall not be deemed to be an admission by the Borrower that such Material Adverse Effect has occurred.
Section 6.04
Payment of Certain Taxes. Timely pay, discharge or otherwise satisfy, as the same shall become due and payable, all obligations and liabilities in respect of Taxes, imposed upon it or upon its income or profits or in respect of its property, except, in each case, to the extent (a) such Taxes are being contested in good faith and by appropriate actions diligently conducted and for which appropriate reserves have been established in accordance with GAAP or (b) the failure to pay, discharge or otherwise satisfy the same would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect.
Exhibit A
Section 6.05
Preservation of Existence, Etc.
(a)
Preserve, renew and maintain in full force and effect its legal existence under the Laws of the jurisdiction of its incorporation or organization; and
(b)
maintain, preserve and protect all of its material properties and equipment used in the operation of its business in good working order, repair and condition, ordinary wear and tear excepted and casualty or condemnation excepted;
(c)
take all reasonable action to obtain, preserve, renew and keep in full force and effect those of its rights (including with respect to registered Intellectual Property), licenses, permits, privileges, and franchises, that are material to the conduct of its business;
except (i) in connection with a transaction not otherwise prohibited by the Loan Documents (including pursuant to any merger, consolidation, liquidation, dissolution, or Disposition permitted by Article VII), or (ii) to the extent that failure to do so would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.
Section 6.06
[Reserved].
Section 6.07
Maintenance of Insurance.
(a)
Maintain with insurance companies that the Borrower believes (in the good faith judgment of its management) are financially sound and reputable at the time the relevant coverage is placed or renewed or with a Captive Insurance Subsidiary, property insurance, casualty insurance and general liability insurance policies with respect to its properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar business, of such types and in such amounts (after giving effect to any self-insurance reasonable and customary for similarly situated Persons engaged in the same or similar businesses as the Borrower and the Restricted Subsidiaries or are reasonable and prudent in light of the size and nature of the business of the Borrower and the Restricted Subsidiaries and the availability of such insurance on a cost-effective basis) as are customarily carried under similar circumstances by such other Persons as determined by the Borrower in good faith, and furnish to the Administrative Agent, upon reasonable written request from the Administrative Agent, information presented in reasonable detail as to the insurance so carried; provided, the Loan Parties shall not be required to maintain flood insurance except as set forth in Sections 6.11(b) or 6.16. Each such policy of insurance that is maintained by any Loan Party in the United States shall as appropriate and is customary, (i) name the Collateral Agent, on behalf of the Secured Parties, as an additional insured thereunder as its interests may appear and/or (ii) in the case of each property and casualty insurance policy, contain a lender’s loss payable clause or endorsement that names the Collateral Agent, on behalf of the Secured Parties, as the lender loss payee thereunder; provided, that, to the extent that the requirements of this Section 6.07 are not satisfied on the Closing Date, the Borrower may satisfy such requirements within 90 days of the Closing Date (as extended by the Administrative Agent in its reasonable discretion).
Section 6.08
Compliance with Laws. Comply with the requirements of all Laws applicable to it or to its business or property (including for the avoidance of doubt applicable Environmental Laws and ERISA), except if the failure to comply therewith would not reasonably be expected individually or in the aggregate to have a Material Adverse Effect.
Section 6.09
Books and Records. Maintain proper books of record and account in which entries that are full, true and correct in all material respects shall be made of all material financial transactions and material matters involving the assets and business of the Borrower or Restricted Subsidiaries, as the case
Exhibit A
may be (it being understood and agreed that Foreign Subsidiaries may maintain individual books and records in conformity with generally accepted accounting principles in their respective countries of organization or operations and that such maintenance shall not constitute a breach of the representations, warranties or covenants hereunder).
Section 6.10
Inspection Rights. Permit representatives and independent contractors of the Administrative Agent to visit and inspect any of its properties, to examine its corporate, financial, and operating records to make copies thereof or abstracts therefrom and to discuss its affairs, finances and accounts with its directors, officers, and, upon reasonable advance notice to the Borrower, its independent public accountants (subject to such accountants’ customary policies and procedures), all at such reasonable times during normal business hours and as often as may be reasonably desired, upon reasonable advance notice to the Borrower; provided that, (a) the Administrative Agent shall not exercise such rights more often than one time during any calendar year absent the continuation of a Specified Event of Default and (b) when a Specified Event of Default is continuing, the Administrative Agent may do any of the foregoing at the expense of the Borrower at any time during normal business hours and upon reasonable advance notice. The Administrative Agent shall give the Borrower the opportunity to participate in any discussions with the Borrower’s independent public accountants. For the avoidance of doubt, the foregoing shall be subject to the provisions of Section 11.08.
Section 6.11
Covenant to Guarantee Obligations and Give Security. At the Borrower’s expense, subject to any applicable limitation in any Loan Document (including Section 6.12), take the following actions:
(a)
upon (1) the formation or acquisition of any new wholly owned Material Subsidiary by any Loan Party (including, without limitation, upon the formation of any Material Subsidiary that is a Delaware Divided LLC), (2) the designation in accordance with Section 6.14 of any existing wholly owned Material Subsidiary of any Loan Party as a Restricted Subsidiary, (3) any Person becoming a wholly owned Material Subsidiary (that is a Restricted Subsidiary) of a Loan Party, or (4) any wholly owned Material Subsidiary of a Loan Party ceasing to be an Excluded Subsidiary (including a Material Subsidiary ceasing to be an Immaterial Subsidiary), in each case under clauses (1) – (3) other than an Excluded Subsidiary:
(i)
within 90 days after such event (or such longer period as the Administrative Agent may agree in its reasonable discretion), cause such Material Subsidiary to duly execute and deliver to the Collateral Agent the Guaranty (or a joinder thereto);
(ii)
within 90 days after such event (or such longer period as the Administrative Agent may agree in its reasonable discretion), cause such Material Subsidiary to duly execute and deliver to the Collateral Agent a Security Agreement Supplement, a counterpart signature page to the Intercompany Subordination Agreement and any applicable Intellectual Property Security Agreements;
(iii)
within 90 days after such event (or such longer period as the Administrative Agent may agree in its reasonable discretion), cause such Material Subsidiary (and the parent of each such Material Subsidiary that is the Borrower or a Guarantor) to deliver any and all certificates representing Equity Interests constituting Collateral (to the extent certificated under the UCC) that are required to be pledged under the Loan Documents, accompanied by undated stock powers or other appropriate instruments of transfer executed in blank (or any other documents customary under local law), and instruments evidencing Indebtedness constituting Collateral held by such Material Subsidiary and required to be pledged pursuant to the Security Agreement, endorsed in blank, to the Collateral Agent and any other Collateral Documents, endorsed in blank to the Collateral Agent; and
Exhibit A
(iv)
within 90 days after such event (or such longer period as the Administrative Agent may agree in its reasonable discretion), upon the reasonable request of the Administrative Agent, take and cause such Material Subsidiary and each direct or indirect parent of such Material Subsidiary that is required to become a Subsidiary Guarantor under the Loan Documents to take such customary actions as may be necessary in the reasonable opinion of the Administrative Agent to vest in the Collateral Agent (or in any representative of the Collateral Agent designated by it) valid first-priority perfected Liens (subject to Liens permitted under Section 7.01) required by the Security Agreement and the other Collateral Documents, enforceable against all third parties in accordance with their terms, except as such enforceability may be limited by Debtor Relief Laws and by general principles of equity (regardless of whether enforcement is sought in equity or at law);
provided, that actions relating to Liens on real property are governed by Section 6.11(b) and not this Section 6.11(a).
(b)
Material Real Property.
(i)
Notice.
(A)
Within 90 days after the formation, acquisition or designation of a Material Subsidiary (other than any Excluded Subsidiary) described in Section 6.11(a) (or, in each case, such longer period as the Administrative Agent may agree in its reasonable discretion), the Borrower will, or will cause such Material Subsidiary to, furnish to the Collateral Agent a description of any Material Real Property (other than any Excluded Asset) owned by such Material Subsidiary in reasonable detail.
(B)
Within 90 days after the acquisition of any Material Real Property by a Loan Party after the Closing Date (or such longer period as the Administrative Agent may agree in its reasonable discretion), the Borrower will furnish to the Collateral Agent a description of such Material Real Property in reasonable detail.
(ii)
Mortgages, etc. The Borrower will, or will cause the applicable Loan Party to, provide the Collateral Agent with a Mortgage (or local law equivalent) with respect to Material Real Property that is the subject of a notice delivered pursuant to Section 6.11, within 120 days of the event that triggered the requirement to give such notice (or, in each case, such longer period as the Administrative Agent may agree in its sole and absolute discretion) together with:
(A)
evidence that counterparts of such Mortgage (or local law equivalent) have been duly executed, acknowledged and delivered and are in a form suitable for filing or recording in all filing or recording offices that the Collateral Agent may deem reasonably necessary or desirable in order to create a valid and enforceable perfected Lien (or local law equivalent) on such Material Real Property in favor of the Collateral Agent for the benefit of the Secured Parties and that all filing and recording taxes and fees have been paid or are otherwise provided for in a manner reasonably satisfactory to the Collateral Agent; provided that to the extent any property to be subject to a Mortgage is located in a jurisdiction that imposes mortgage recording taxes, intangibles tax, documentary tax or similar recording fees or taxes, to the extent permitted by applicable law, the relevant Mortgage shall not secure an amount in excess of the fair market value of such property subject thereto and shall not secure the Obligations in respect of the this Agreement in those states that impose a mortgage tax on paydowns or re-advances;
Exhibit A
(B)
fully paid Mortgage Policies or signed commitments in respect thereof together with such affidavits, certificates, and instruments of indemnification (including a so-called “gap” indemnification) as shall be required to induce the title insurance company to issue the Mortgage Policies and endorsements contemplated above and evidence of payment of title insurance premiums and expenses and all recording, mortgage, transfer and stamp taxes and fees payable in connection with recording the Mortgage;
(C)
customary opinions of local counsel for such Loan Party in the state or jurisdiction in which such Material Real Property is located, with respect to the enforceability of the Mortgage and any related fixture filings and, where the applicable Loan Party granting the Mortgage (or local law equivalent) on said Mortgaged Property is incorporated and/or organized, an opinion regarding the due authorization, execution and delivery of such Mortgage (or local law equivalent), and in each case, such other matters as may be reasonably requested by the Administrative Agent;
(D)
an ALTA survey or existing survey (or, if customary under local law, a local law equivalent) together with a no change affidavit of such Mortgaged Property, sufficient for the title insurance company to remove the standard survey exception and issue related endorsements and otherwise reasonably satisfactory to the Administrative Agent (if reasonably requested by the Administrative Agent); and
(E)
a Flood Insurance Certificate.
Notwithstanding anything to the contrary in any Loan Document, neither Holdings, Intermediate Holdings, the Borrower, nor any Restricted Subsidiary will be required to, nor will the Administrative Agent or the Collateral Agent be authorized,
(iii)
to perfect security interests in the Collateral other than by,
(A)
filings pursuant to the Uniform Commercial Code in the office of the secretary of state (or similar central filing office) of the relevant state(s) and filings in the applicable real estate records with respect to Material Real Property constituting Collateral;
(B)
filings in (i) the United States Patent and Trademark Office with respect to any U.S. issued patents and registered trademarks and any applications therefor owned by a grantor under the Security Agreement and (ii) the United States Copyright Office of the Library of Congress with respect to U.S. registered copyrights owned by a grantor under the Security Agreement and exclusive licenses granted to a grantor under the Security Agreement to U.S. registered copyrights, in each case constituting Collateral;
(C)
mortgages (or local law equivalent) in respect of Material Real Property constituting Collateral; and
(D)
delivery to the Administrative Agent or Collateral Agent to be held in its possession of all Collateral consisting of certificated equity securities and instruments constituting Collateral to the extent required pursuant to Section 2.02(a) of the Security Agreement;
(iv)
to enter into any control agreement, lockbox or similar arrangement with respect to any deposit account, securities account, commodities account or other bank account, or otherwise perfect a security interest with control;
Exhibit A
(v)
to take any action (A) with respect to any assets located outside of the United States, (B) in any non-U.S. jurisdiction or (C) required by the laws of any non-U.S. jurisdiction to create, perfect or maintain any security interest or otherwise;
(vi)
to take any action with respect to perfecting a Lien with respect to any intellectual property (except for short-form security interest filings in the United States Patent and Trademark Office and the United States Copyright Office), letters of credit, letter of credit rights, commercial tort claims, chattel paper or assets subject to a certificate of title or similar statute (in each case, other than the filing of UCC-1 financing statements) or to deliver landlord lien waivers, estoppels, bailee letters or collateral access letters;
(vii)
provide an updated perfection certificate or other similar comprehensive reporting with respect to the Collateral more than once per fiscal year; or
(viii)
(A) register (or apply to register) any intellectual property or (B) enter into any source code escrow arrangement.
Section 6.12
Further Assurances. Subject to Section 6.11 and any applicable limitations in any Loan Document, and in each case at the expense of the Borrower, promptly upon the reasonable request by the Collateral Agent or as may be required by applicable Laws (a) correct any material defect or error that may be discovered in the execution, acknowledgment, filing or recordation of any Collateral Document or other document or instrument relating to any Collateral and (b) do, execute, acknowledge, deliver, record, re-record, file, re-file, register and re-register any and all such further acts, deeds, certificates, assurances and other instruments as the Collateral Agent may reasonably request from time to time in order to carry out more effectively the purposes of the Collateral Documents.
Section 6.13
Transactions with Affiliates. Not enter into any transaction of any kind with any Affiliate of the Borrower, other than:
(a)
any transaction or series of related transactions with consideration valued at less than 10% of the greater of (i) Closing Date EBITDA and (ii) TTM Consolidated Adjusted EBITDA, calculated on a Pro Forma Basis as of the applicable date of determination;
(b)
transactions between or among the Borrower, any of the Restricted Subsidiaries or any entity that becomes a Restricted Subsidiary as a result of such transaction;
(c)
transactions on terms substantially as favorable to the Borrower or such Restricted Subsidiary as would be obtainable by the Borrower or such Restricted Subsidiary at the time in a comparable arm’s-length transaction with a Person other than an Affiliate (as determined by the Borrower in good faith);
(d)
[reserved];
(e)
the issuance or transfer of Equity Interests of Holdings or any direct or indirect parent of Holdings to any Affiliate of the Borrower or any former, current or future officer, director, manager, employee or consultant (or any spouses, former spouses, successors, executors, administrators, heirs, legatees or distributees of any of the foregoing) of the Borrower, any of its Subsidiaries or any direct or indirect parent of the Borrower;
(f)
(i) the payment of indemnities and expenses (including reimbursement of out-of-pocket expenses) to the Sponsor pursuant to the Sponsor Management Agreement and (ii) so long as no Specified
Exhibit A
Event of Default shall have occurred and be continuing or would result therefrom, the payment of management, consulting, monitoring, advisory and other fees and special distributions, indemnities and expenses to the Sponsor pursuant to the Sponsor Management Agreement (plus any unpaid management, consulting, monitoring, advisory and other fees accrued in any prior year); provided that payments that would otherwise be permitted to be made under this Section 6.13(f) but for a Specified Event of Default may accrue during the continuance of such Specified Event of Default and be paid when such Specified Event of Default is no longer continuing;
(g)
so long as no Specified Event of Default shall have occurred and be continuing or would result therefrom, customary payments by the Borrower and any of the Restricted Subsidiaries to the Sponsor made for any financial advisory, financing, underwriting or placement services or in respect of other investment banking activities (including in connection with acquisitions or divestitures), which payments are approved by a majority of the members of the Board of Directors of Holdings (or any direct or indirect parent thereof) in good faith or a majority of the disinterested members of the Board of Directors of Holdings (or any direct or indirect parent thereof) in good faith;
(h)
[Reserved];
(i)
[Reserved];
(j)
Investments by the Sponsor or its Affiliates in securities or Indebtedness of the Borrower or any of its Restricted Subsidiaries, including by Affiliated Lenders and Affiliated Debt Funds in their capacities as the Lenders hereunder or as lenders under any other agreement, document or instrument governing or relating to any Indebtedness permitted to be incurred under Section 7.03, in each case to the extent (i) such Person is being treated no more favorably than the other investors or lenders and (ii) other than investments in the Loans or other debt securities by any Affiliated Debt Funds, any such investment constitutes less than 10.0% of the proposed or outstanding issue amount of such class of securities;
(k)
employment and severance arrangements and confidentiality agreements among the Borrower and the Restricted Subsidiaries and their respective officers and employees in the ordinary course of business and transactions pursuant to stock option, profits interest and other equity plans and employee benefit plans and arrangements;
(l)
the licensing of trademarks, copyrights or other Intellectual Property in the ordinary course of business to permit the commercial exploitation of Intellectual Property between or among Affiliates and Subsidiaries of the Borrower;
(m)
the payment of customary fees and reasonable out-of-pocket costs to, and indemnities provided on behalf of, directors, officers, employees and consultants of Holdings, the Borrower and the Restricted Subsidiaries or any direct or indirect parent of Holdings in the ordinary course of business to the extent attributable to the ownership or operation of the Borrower and the Restricted Subsidiaries;
(n)
any agreement, instrument or arrangement as in effect as of the Closing Date and, in each case to the extent evidencing agreements, instruments or arrangements in excess of $25,000,000 described on Schedule 6.13, in each case, any amendment thereto (so long as any such amendment is not adverse to the Lenders in any material respect as compared to the applicable agreement as in effect on the Closing Date as determined by the Borrower in good faith);
(o)
Restricted Payments permitted under Section 7.06, prepayments, redemptions, purchases, defeasances and satisfactions of Indebtedness permitted under Section 7.11(a) and Investments permitted under Section 7.02;
Exhibit A
(p)
transactions in which the Borrower or any of the Restricted Subsidiaries, as the case may be, delivers to the Administrative Agent a letter from an Independent Financial Advisor stating that such transaction is fair to the Borrower or such Restricted Subsidiary from a financial point of view or meets the requirements of clause (c) of this Section 6.13 (without giving effect to the parenthetical phrase at the end thereof);
(q)
payments to, or from, and transactions with, Joint Ventures for the purchase or sale of goods, equipment and services entered into in the ordinary course of business and in a manner consistent with prudent business practice followed by companies in the industry of the Borrower and its Subsidiaries;
(r)
any Disposition of Securitization Assets or related assets in connection with any Qualified Securitization Financing or Receivables Financing Transaction;
(s)
transactions between the Borrower or any of the Subsidiaries and any Person, a director of which is also a director of the Borrower or any direct or indirect parent company of the Borrower; provided, however, that (i) such director abstains from voting as a director of the Borrower or such direct or indirect parent company, as the case may be, on any matter involving such other Person and (ii) such Person is not an Affiliate of Holdings for any reason other than such director’s acting in such capacity;
(t)
payments, loans (or cancellation of loans) or advances to employees or consultants of the Borrower or any Restricted Subsidiary that are approved by a majority of the disinterested members of the Board of Directors of Holdings or the Borrower (or the direct or indirect parent thereof) in good faith; and
(u)
transactions with Holdings in its capacity as a party to any Loan Document or to any agreement, document or instrument governing or relating to any transaction permitted hereby.
Section 6.14
Designation of Subsidiaries. The Borrower may at any time designate any Restricted Subsidiary as an Unrestricted Subsidiary or designate (or re-designate, as the case may be) any Unrestricted Subsidiary as a Restricted Subsidiary; provided that immediately before and after such designation (or re-designation), no Specified Event of Default shall have occurred and be continuing. The designation of any Subsidiary as an Unrestricted Subsidiary shall constitute an Investment by the Borrower or its Restricted Subsidiary therein at the date of designation in an amount equal to the fair market value as of the time of such designation of the Borrower’s or such Restricted Subsidiary’s (as applicable) Investment therein and any Investments such Restricted Subsidiary is contractually obligated to make after such designation. The designation of any Unrestricted Subsidiary as a Restricted Subsidiary shall constitute the incurrence at the time of designation of any Indebtedness and Liens of such Subsidiary existing at such time and a return on any Investment by the Borrower or such Restricted Subsidiary in Unrestricted Subsidiaries pursuant to the preceding sentence in an amount equal to the fair market value at the date of such designation of the Borrower’s or its Restricted Subsidiary’s (as applicable) Investment in such Subsidiary. Notwithstanding the foregoing, at no time may any Unrestricted Subsidiary own or exclusively license or have exclusive rights in any Intellectual Property that is material to the operation of the businesses of Holdings and their Restricted Subsidiaries (taken as a whole); provided that, for the avoidance of doubt, such requirement shall not restrict any such Unrestricted Subsidiary from holding a non-exclusive license in any such Intellectual Property at such time.
Section 6.15
Maintenance of Ratings. Use commercially reasonable efforts to maintain (a) a public corporate credit rating or public corporate family rating, as applicable, from any two of S&P, Moody’s and Fitch, in each case in respect of the Reporting Entity (but not a specific rating), and (b) a public rating in respect of the Initial2024 Refinancing Term Loan from any two of S&P, Moody’s and Fitch (but not a specific rating).
Exhibit A
Section 6.16
Post-Closing Matters. The Borrower will, and will cause each of its Restricted Subsidiaries to, take each of the actions set forth on Schedule 6.16 within the time period prescribed therefor on such schedule (as such time period may be extended by the Administrative Agent in its reasonable discretion).
Section 6.17
Use of Proceeds.
(a)
The proceeds of the Initial Term Loan made on the Closing Date and the Revolving Loan Borrowing made on the Closing Date will be used on the Closing Date (i) to consummate the Closing Date Refinancing, (ii) to pay the Transaction Expenses and (iii) for working capital and other purposes permitted by this Agreement. The proceeds of the Initial Term Loans made on the Amendment No. 1 Effective Date shall be used in a manner consistent with the uses set forth in Amendment No. 1. The proceeds of the Initial Term Loans made on the Amendment No. 2 Effective Date shall be used in a manner consistent with the uses set forth in Amendment No. 2. The proceeds of the 2024 Refinancing Term Loans made on the Amendment No. 4 Effective Date shall be used in a manner consistent with the uses set forth in Amendment No. 4.
(b)
The proceeds of Revolving Loans and Swing Line Loans will be used for working capital and other general corporate purposes of the Borrower and its Restricted Subsidiaries, including the financing of Permitted Acquisitions, Restricted Payments or any other transactions that are not prohibited by the terms of this Agreement.
(c)
Letters of Credit will be used for general corporate purposes of the Borrower and its Restricted Subsidiaries, including supporting transactions not prohibited by the Loan Documents.
Section 6.18
Lender Calls. Upon the reasonable written request of the Administrative Agent and on a date to be mutually agreed upon by the Borrower and the Administrative Agent following the end of each fiscal quarter, commencing with the fiscal quarter ending September 30, 2023, hold a quarterly conference call (at a time mutually agreed upon by the Borrower and the Administrative Agent but, in any event, no earlier than the Business Day following the delivery of each set of consolidated financial statements referred to in Sections 6.01(a) and 6.01(b)) with all Lenders who choose to attend such conference call; provided that notwithstanding the foregoing, the requirement set forth in this Section 6.18 may be satisfied with a public earnings call.
Article VII
Negative Covenants
Negative Covenants
So long as the Termination Conditions are not satisfied, the Borrower shall not, nor shall the Borrower permit any Restricted Subsidiary to (and with respect to Section 7.10 only, Holdings or Intermediate Holdings shall not):
Section 7.01
Liens. Create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter acquired that secures Indebtedness of the Borrower or any Restricted Subsidiary other than the following:
(a)
Liens under the Collateral Documents;
(b)
[reserved];
(c)
Liens existing, or provided under binding contracts existing, on the Closing Date and, to the extent securing Indebtedness in a principal amount in excess of $25,000,000 on the Closing Date, set
Exhibit A
forth on Schedule 7.01;
(d)
(i) Liens granted by a Restricted Subsidiary that is not a Loan Party in favor of any Loan Party, (ii) Liens granted by a Restricted Subsidiary that is not a Loan Party in favor of any other Restricted Subsidiary that is not a Loan Party and (iii) Liens granted by any Loan Party in favor of any other Loan Party;
(e)
Liens securing obligations in respect of Indebtedness (including Capitalized Lease Obligations) permitted under Section 7.03(e) of the Borrower or any Restricted Subsidiary, including Indebtedness financing the acquisition, construction, repair, replacement or improvement of fixed or capital assets and including through the direct purchase of assets or the Equity Interests of any Person owning such assets; provided that:
(A)
with respect to any such Indebtedness incurred pursuant to Section 7.03(e)(A), such Liens attach concurrently with, or within 365 days after, the applicable acquisition, construction, repair, replacement or improvement; and
(B)
such Liens do not at any time encumber any property other than the property financed by such Indebtedness and any replacements of such property, except for additions and accessions to such property and the proceeds and the products thereof, and any lease of such property (including accessions thereto) and the proceeds and products thereof;
provided further, that financings provided by one Person and its Affiliates may be cross collateralized to other financings provided by such Person and its Affiliates and other Indebtedness incurred pursuant to Section 7.03(e);
(f)
Liens securing obligations in respect of (i) Incremental Equivalent Debt and (ii) other Indebtedness incurred pursuant to Section 7.03(f), in each case, with the priority permitted under, and subject to the other terms set forth in, the definitions of Incremental Equivalent Debt (with respect to clause (i)) and Permitted Refinancing (with respect to clause (ii)), as applicable, and other than to the extent such Indebtedness is permitted by such defined terms to be incurred only as unsecured Indebtedness;
(g)
Liens securing obligations in respect of Indebtedness incurred pursuant to Section 7.03(g); provided that, to the extent such Indebtedness constitutes Pari Passu Lien Debt or Junior Lien Debt, a Debt Representative acting on behalf of the holders of such Indebtedness may (and has) become party to, or is otherwise subject to the provisions of, (A) if such Indebtedness is Pari Passu Lien Debt, an Equal Priority Intercreditor Agreement as an “Additional First Lien Representative” (or similar designation) and any Junior Lien Intercreditor Agreement then in existence as a “Senior Priority Representative” (or similar designation) or (B) if such Indebtedness is Junior Lien Debt, a Junior Lien Intercreditor Agreement as a “Second Priority Representative” (or similar designation);
(h)
Liens securing obligations in respect of (i) Credit Agreement Refinancing Indebtedness and (ii) other Indebtedness incurred pursuant to Section 7.03(h), in each case, with the priority permitted under, and subject to the other terms set forth in, the definitions of Credit Agreement Refinancing Indebtedness (with respect to clause (i)) or Permitted Refinancing (with respect to clause (ii)), as applicable, and other than to the extent such Indebtedness is permitted only to be incurred as unsecured Indebtedness;
(i)
Liens securing obligations in respect of (i) Permitted Ratio Debt and (ii) other Indebtedness incurred pursuant to Section 7.03(i), in each case, with the priority permitted under, and subject to the other terms set forth in, the definitions of Permitted Ratio Debt (with respect to clause (i)) or Permitted
Exhibit A
Refinancing (with respect to clause (ii)), as applicable, and other than to the extent such Indebtedness is permitted only to be incurred as unsecured Indebtedness;
(j)
(i) Liens on assets not constituting Collateral (including Equity Interests of an Unrestricted Subsidiary), including the property of any Non-Loan Party, in each case securing obligations in respect of Indebtedness of any Non-Loan Party, as applicable and (ii) Liens on Equity Interests of an Unrestricted Subsidiary that secure Indebtedness or other obligations of such Unrestricted Subsidiary;
(k)
Liens on the Collateral securing Indebtedness in respect of any Secured Hedge Agreements, pledge of cash, Cash Equivalents to secure any Hedge Agreements and Liens on customary futures accounts and margin accounts;
(l)
(i) Liens existing on property, or provided for under binding contracts existing, at the time of its acquisition by the Borrower or a Restricted Subsidiary or existing on property of any Person at the time such Person becomes a Restricted Subsidiary or is merged with or into a Restricted Subsidiary; provided that (A) such Lien was not created in contemplation thereof and (B) such Lien does not extend to or cover any other assets or property (other than property that is affixed or incorporated into the property covered by such Lien and proceeds and products thereof and other than after-acquired property required to be subjected to a Lien securing Indebtedness and other obligations incurred prior to such time of acquisition and which Indebtedness and other obligations (x) are permitted (or not prohibited) hereunder and not incurred in contemplation of such acquisition and (y) require, pursuant to their terms at such time, a pledge of such after-acquired property, it being understood that such requirement shall not be permitted to apply to any property to which such requirement would not have applied but for such acquisition); provided, further that the Indebtedness secured thereby is permitted under Section 7.03 and (ii) Liens securing other Indebtedness incurred pursuant to Section 7.03(l) (other than to the extent such Indebtedness is permitted to be incurred only as unsecured Indebtedness);
(m)
Liens (i) on cash and Cash Equivalents in favor of the seller or the buyer of any property to be applied against the purchase price, in connection with any escrow arrangements or as otherwise required by any applicable letter of intent or governing agreement with respect to any permitted Investment or permitted Disposition (including any letter of intent or purchase agreement with respect to such Investment or Disposition) or (ii) consisting of an agreement to Dispose of any property in a permitted Disposition, in each case, solely to the extent such permitted Investment or Disposition, as the case may be, would have been permitted on the date of the creation of such Lien;
(n)
(i) Liens securing Indebtedness in respect of the financing of insurance premiums and (ii) Liens on cash and Cash Equivalents securing obligations to insurance companies with respect to insurable liabilities incurred in each case in the ordinary course of business;
(o)
Liens securing obligations in respect of Indebtedness (including arising out of any Sale Leaseback Transaction) incurred pursuant to Section 7.03(o);
(p)
Liens on the Securitization Assets arising in connection with a Qualified Securitization Financing and Liens on any receivables transferred in connection with a Receivables Financing Transaction, including Liens on such receivables resulting from precautionary UCC filings or from re-characterization or any such sale as a financing or a loan;
(q)
Liens in respect of the cash collateralization of letters of credit, bank guarantees, warehouse receipts or similar instruments;
(r)
Liens on the Collateral securing Cash Management Obligations not prohibited by Section
Exhibit A
7.03;
(s)
Permitted Encumbrances to the extent securing any Indebtedness;
(t)
Liens securing Guarantees not prohibited by Section 7.03 to the extent that the underlying Indebtedness is permitted to be secured by a Lien under this Section 7.01;
(u)
Liens securing Indebtedness in an aggregate outstanding principal amount as of the date of the incurrence of such Liens not to exceed 75% of the greater of (i) Closing Date EBITDA and (ii) TTM Consolidated Adjusted EBITDA, calculated on a Pro Forma Basis as of the applicable date of determination; provided that, to the extent such Indebtedness is included in Consolidated Total Debt and constitutes Pari Passu Lien Debt or Junior Lien Debt, a Debt Representative acting on behalf of the holders of such Indebtedness may (and has) become party to, or is otherwise subject to the provisions of, (A) if such Indebtedness is Pari Passu Lien Debt, an Equal Priority Intercreditor Agreement as an “Additional First Lien Representative” (or similar designation) and any Junior Lien Intercreditor Agreement then in existence as a “Senior Priority Representative” (or similar designation) or (B) if such Indebtedness is Junior Lien Debt, a Junior Lien Intercreditor Agreement as a “Second Priority Representative” (or similar designation);
(v)
Liens securing obligations in respect of Indebtedness incurred pursuant to Sections 7.03(m) and 7.03(z); provided that, to the extent such Indebtedness is included in Consolidated Total Debt and constitutes Pari Passu Lien Debt or Junior Lien Debt, a Debt Representative acting on behalf of the holders of such Indebtedness may (and has) become party to, or is otherwise subject to the provisions of, (A) if such Indebtedness is Pari Passu Lien Debt, an Equal Priority Intercreditor Agreement as an “Additional First Lien Representative” (or similar designation) and any Junior Lien Intercreditor Agreement then in existence as a “Senior Priority Representative” (or similar designation) or (B) if such Indebtedness is Junior Lien Debt, a Junior Lien Intercreditor Agreement as a “Second Priority Representative” (or similar designation);
(w)
Liens securing obligations in respect of (i) Permitted Debt Exchange Securities (to the extent constituting Indebtedness) and (ii) any other Indebtedness permitted to be incurred pursuant to Section 7.03(cc), in each case, with the priority permitted under, and subject to the other terms set forth in Section 2.19 (with respect to clause (i)) or Permitted Refinancing (with respect to clause (ii)), as applicable, and other than to the extent such Indebtedness is permitted only to be incurred as unsecured Indebtedness;
(x)
Liens securing Indebtedness; provided that immediately after giving effect to the issuance, incurrence, or assumption of such Indebtedness:
(i)
in the case of any Pari Passu Lien Debt, the First Lien Net Leverage Ratio of the Borrower is equal to or less than 4.00 to 1.00;
(ii)
in the case of any Junior Lien Debt, the Secured Net Leverage Ratio of the Borrower is equal to or less than 5.25 to 1.00; and
(iii)
in the case of Other Secured Debt, either:
(A)
the Total Net Leverage Ratio of the Borrower is equal to or less than 5.25 to 1.00; or
(B)
the Interest Coverage Ratio of the Borrower is equal to or greater than 2.00 to 1.00;
Exhibit A
in each case, after giving Pro Forma Effect to the incurrence of such Indebtedness and the use of proceeds thereof and measured as of and for the applicable Test Period immediately preceding the issuance, incurrence or assumption of such Indebtedness;
(y)
the modification, replacement, renewal or extension of any Lien not prohibited by this Section 7.01; provided that (i) with respect to Section 7.03(c), such Lien does not extend to any additional property other than (A) property that is affixed or incorporated into the property covered by such Lien or financed by Indebtedness permitted and (B) proceeds and products thereof and (ii) the renewal, extension or refinancing of the obligations (to the extent constituting Indebtedness) secured or benefited by such Liens is permitted by Section 7.03; and
(z)
Liens on Escrowed Proceeds for the benefit of the related holders of debt securities or other Indebtedness (or the underwriters, trustee, escrow agent or arrangers thereof) or on cash set aside at the time of the incurrence of any Indebtedness or government securities purchased with such cash, in either case to the extent such cash or government securities prefund the payment of interest on such Indebtedness and are held in an escrow account or similar arrangement to be applied for such purpose.
For purposes of determining compliance with this Section 7.01, the Borrower may combine multiple baskets for the purpose of incurring one item of Lien and in the event that any Lien (or any portion thereof) meets the criteria of more than one of the categories set forth above, the Borrower may, in its sole and absolute discretion, at the time of incurrence, divide, classify, reclassify, sequence or re-sequence or at any later time, based on the Lien then outstanding and the baskets then available, divide, classify, reclassify, sequence or re-sequence such Lien (or any portion thereof) in any manner that complies with this covenant on the date such Lien is incurred or such later time, as applicable; provided that all Liens created pursuant to the Loan Documents on the Closing Date will be deemed to have been incurred in reliance on the exception in clause (a) above and shall not be permitted to be reclassified pursuant to this paragraph. For the avoidance of doubt, with respect to the incurrence of any Lien securing Indebtedness, such Lien may be either incurred concurrently with, or added for its benefit after the initial incurrence of such Indebtedness. Notwithstanding anything set forth in any Loan Documents and irrespective of the method and time of perfection (or the validity or lack thereof), to the extent any assets constitute Collateral, any Lien created under any Collateral Documents shall be subordinated to the Liens on such assets to the extent such Lien is permitted by (i) Section 7.01(c), (e), (l), (m)(i), (n), (o), (q) or (z) above or (ii) Section 7.01(u), (v), (x) or (y) to the extent such Lien is of the type referred to, or constitutes a modification, replacement, renewal or extension of, any Lien described in the foregoing clause (i).
Section 7.02
Investments. Make any Investments, other than the following:
(a)
Investments held by the Borrower or any of the Restricted Subsidiaries in assets that are Cash Equivalents or were Cash Equivalents when made;
(b)
loans or advances to future, present or former officers, directors, managers, members, partners, independent contractors, consultants and employees of Holdings (or any direct or indirect parent thereof), the Borrower or any Restricted Subsidiary;
(i)
for reasonable and customary business-related travel, entertainment, relocation and analogous ordinary business purposes;
(ii)
in connection with such Person’s purchase of Equity Interests of Holdings (or any direct or indirect parent thereof); provided that, to the extent such loans or advances are made in cash, the amount of such loans and advances used to acquire such Equity Interests shall be contributed to Holdings in cash; and
Exhibit A
(iii)
for any other purpose; provided that the aggregate principal amount outstanding under this clause (iii) shall not exceed 15% of the greater of (i) Closing Date EBITDA and (ii) TTM Consolidated Adjusted EBITDA, calculated on a Pro Forma Basis as of the applicable date of determination;
(c)
Investments,
(i)
by the Borrower or any Restricted Subsidiary in the Borrower or any Restricted Subsidiary; and
(ii)
by the Borrower or any Restricted Subsidiary in a Person, if as a result of or otherwise following, such Investment (A) such Person becomes a Restricted Subsidiary or (B) such Person is merged, consolidated or amalgamated with or into, or transfers or conveys substantially all of its assets to, or is liquidated into, the Borrower or a Restricted Subsidiary;
(d)
any Investment by any Captive Insurance Subsidiary in connection with its provision of insurance to the Borrower and any of its Subsidiaries, which Investment is made in the ordinary course of business or consistent with industry practice or by reason of applicable Law or that is required or approved by any regulatory authority having jurisdiction over such Captive Insurance Subsidiary or its business, as applicable;
(e)
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 in the ordinary course of business;
(f)
Investments consisting of Liens, Indebtedness (including Guarantees), fundamental changes, Dispositions and Restricted Payments permitted under Sections 7.01, 7.03, 7.04 (other than clause (f) thereof), 7.05 (other than clause (e) thereof) and 7.06 (other than clauses (d) and (g)(iv) thereof), respectively and the forgiveness or conversion to equity of any Indebtedness owed to the Borrower or a Restricted Subsidiary and permitted by Section 7.03;
(g)
Investments existing on the Closing Date or made pursuant to binding contracts in existence on the Closing Date and, in each case to the extent evidencing existing or contemplated Investments in excess of $25,000,000 as of the Closing Date, described on Schedule 7.02, and any modification, replacement, renewal, reinvestment or extension of any of the foregoing; provided that the amount of any Investment permitted pursuant to this Section 7.02(g) is not increased from the amount of such Investment existing or contemplated on the Closing Date except pursuant to the terms of such Investment as of the Closing Date or as otherwise permitted by another clause of this Section 7.02;
(h)
Investments in Hedge Agreements;
(i)
promissory notes and other non-cash consideration that is permitted to be received in connection with Dispositions;
(j)
earnest money deposits required in connection with any Permitted Investment;
(k)
the purchase or other acquisition (in one transaction or a series of transactions, including by merger or otherwise) of property and assets or businesses of any Person or of assets constituting a business unit, line of business or division of any Person or Equity Interests in a Person that, upon the consummation thereof, will be directly owned by the Borrower or one or more Restricted Subsidiaries
Exhibit A
(including as a result of a merger or consolidation); provided that with respect to each purchase or other acquisition made pursuant to this Section 7.02(k) (each, a “Permitted Acquisition”) immediately after giving Pro Forma Effect to any such purchase or other acquisition and subject, for the avoidance of doubt, to Section 1.08(f), no Specified Event of Default shall have occurred and be continuing;
(l)
contributions to a “rabbi” trust for the benefit of employees or other grantor trusts subject to claims of creditors in the case of bankruptcy of the Borrower;
(m)
Investments in the ordinary course of business consisting of Uniform Commercial Code Article 3 endorsements for collection or deposit and Article 4 customary trade arrangements with customers;
(n)
Investments (including debt obligations and Equity Interests) (i) received in connection with the bankruptcy, workout, recapitalization or reorganization of, or in settlement of delinquent obligations of, or other disputes with, any Person, (ii) arising in the ordinary course of business or upon the foreclosure with respect to any secured Investment or other transfer of title with respect to any secured Investment in default, (iii) in satisfaction of judgments against other Persons and (iv) as a result of the settlement, compromise or resolutions of litigation, arbitration or other disputes with Persons who are not Affiliates;
(o)
loans and advances to Holdings, Intermediate Holdings (or, in each case, any direct or indirect parent thereof) in lieu of, and not in excess of the amount of (after giving effect to any other loans, advances or Restricted Payments in respect thereof) Restricted Payments to the extent permitted to be made to Holdings (or such direct or indirect parent) in accordance with Section 7.06(f) or (g), which loans and advances shall reduce the amount available to be made as a Restricted Payment pursuant to such Sections;
(p)
advances of payroll payments and business expenses to employees in the ordinary course of business;
(q)
Investments to the extent that payment for such Investments is made solely with Qualified Equity Interests of Holdings (or any direct or indirect parent thereof) or the proceeds from the issuance thereof (in the latter case, to the extent Not Otherwise Applied);
(r)
Investments (i) held by any Person, or made by any Person pursuant to binding contracts in existence, at the time such Person becomes a Restricted Subsidiary or is merged with or into a Restricted Subsidiary to the extent that such Investments were not made in contemplation thereof or in connection with such acquisition, merger or consolidation and were in existence, or are made pursuant to binding contracts in existence, on the date of such acquisition, merger or consolidation and (ii) by Unrestricted Subsidiaries entered into (or committed to be made) prior to the date such Unrestricted Subsidiary is designated as a Restricted Subsidiary pursuant to Section 6.14 to the extent that such Investments were not made (or committed to be made) in contemplation of, or in connection with, such designation and were in existence (or committed to be made) on the date of such designation;
(s)
Guarantees by the Borrower or any of the Restricted Subsidiaries of leases (other than Capitalized Leases) or of other obligations that do not constitute Indebtedness, in each case entered into in the ordinary course of business;
(t)
(i) Investments in a Securitization Subsidiary or any Investment by a Securitization Subsidiary in any other Person in connection with a Qualified Securitization Financing; provided, that any such Investment in a Securitization Subsidiary is of Securitization Assets or equity, and (ii) distributions or payments of Securitization Assets and Securitization Fees and purchases of Securitization Assets pursuant
Exhibit A
to a Securitization Repurchase Obligation in connection with a Qualified Securitization Financing;
(u)
to the extent constituting Investments, purchases and acquisitions of inventory, supplies, material, services or equipment or the licensing or contribution of intellectual property pursuant to joint marketing arrangements with other Persons entered into in the ordinary course of business;
(v)
Investments made in the ordinary course of business in connection with obtaining, maintaining or renewing client contracts and loans or advances made to distributors in the ordinary course of business;
(w)
[reserved];
(x)
unlimited Investments, so long as the First Lien Net Leverage Ratio (after giving Pro Forma Effect to the incurrence of such Investment and the use of proceeds thereof) for the applicable Test Period immediately preceding the incurrence of such Investment shall be less than or equal to 4.00:1.00;
(y)
Investments that do not exceed in the aggregate at any time outstanding the sum of (i) 50% of the greater of (A) Closing Date EBITDA and (B) TTM Consolidated Adjusted EBITDA, calculated on a Pro Forma Basis as of the applicable date of determination, (ii) the Available Amount at such time, (iii) [reserved] and (iv) the Available RP Amount at such time; provided that, if any Investment pursuant to this clause (y) is made in any Person that is not a Restricted Subsidiary on the date of such Investment (prior to giving effect thereto) and such Person subsequently becomes a Restricted Subsidiary, the Investment initially made in such Person pursuant to this clause (y) shall thereupon be deemed to have been made pursuant to Section 7.02(c)(i) and to not have been made pursuant to this clause (y);
(z)
Investments in Unrestricted Subsidiaries that do not exceed in the aggregate at any time outstanding 50% of the greater of (i) Closing Date EBITDA and (ii) TTM Consolidated Adjusted EBITDA on a Pro Forma Basis as of the applicable date of determination; provided that, if any Investment pursuant to this clause (z) is made in any Person that is not a Restricted Subsidiary on the date of such Investment (prior to giving effect thereto) and such Person subsequently becomes a Restricted Subsidiary, the Investment initially made in such Person pursuant to this clause (z) shall thereupon be deemed to have been made pursuant to Section 7.02(c)(i) and to not have been made pursuant to this clause (z);
(aa)
Joint Venture Investments; provided that, if any Investment pursuant to this clause (aa) is made in any Person that is not a Restricted Subsidiary on the date of such Investment (prior to giving effect thereto) and such Person subsequently becomes a Restricted Subsidiary, the Investment initially made in such Person pursuant to this clause (aa) shall thereupon be deemed to have been made pursuant to Section 7.02(c)(i) and to not have been made pursuant to this clause (aa);
(bb)
any Investment made in connection with any Permitted IPO/Tax Reorganization;
(cc)
Investments in Similar Businesses that do not exceed in the aggregate at any time outstanding 50% of the greater of (i) Closing Date EBITDA and (ii) TTM Consolidated Adjusted EBITDA, calculated on a Pro Forma Basis as of the applicable date of determination; provided that, if any Investment pursuant to this clause (cc) is made in any Person that is not a Restricted Subsidiary on the date of such Investment (prior to giving effect thereto) and such Person subsequently becomes a Restricted Subsidiary, the Investment initially made in such Person pursuant to this clause (cc) shall thereupon be deemed to have been made pursuant to Section 7.02(c)(i) and to not have been made pursuant to this clause (cc); and
(dd)
Investments in Immaterial Subsidiaries; provided that on a Pro Forma Basis no Immaterial Subsidiary will become a Material Subsidiary immediately after giving effect to such Investments.
Exhibit A
For purposes of determining compliance with this Section 7.02, the Borrower may combine multiple baskets for the purpose of incurring one Investment and in the event that any Investment (or any portion thereof) meets the criteria of more than one of the categories set forth above, the Borrower may, in its sole and absolute discretion, at the time such Investment is made, divide, classify, reclassify, sequence or re-sequence or at any later time based on the amount Investment then outstanding and the baskets then available, divide, classify, reclassify, sequence or re-sequence such Investment (or any portion thereof) in any manner that complies with this covenant on the date such Investment is made or such later time, as applicable.
The amount of any non-cash Investments will be the fair market value thereof at the time made. To the extent any Investment in any Person is made in compliance with this Section 7.02 in reliance on a category above that is subject to a Dollar-denominated restriction on the making of Investments and, subsequently, such Person returns to the Borrower, any other Loan Party or, to the extent applicable, any Restricted Subsidiary all or any portion of such Investment (in the form of a dividend, distribution, liquidation or otherwise but excluding intercompany Indebtedness), such return shall be deemed to be credited to the Dollar-denominated category against which the Investment is then charged (but in any event not in an amount that would result in the aggregate dollar amount able to be invested in reliance on such category to exceed the lesser of (x) the original amount of such Investment and (y) the aggregate amount of such Dollar-denominated restriction).
Section 7.03
Indebtedness. The Borrower will not, and will not permit any Restricted Subsidiary to, create, incur, assume or permit to exist any Indebtedness, except:
(a)
Indebtedness under the Loan Documents;
(b)
[reserved],
(c)
Indebtedness outstanding, or provided for under binding contracts existing, on the Closing Date and, to the extent such Indebtedness is in a principal amount in excess of $25,000,000 on the Closing Date, set forth on Schedule 7.03 and any Permitted Refinancing thereof;
(d)
Indebtedness of the Borrower or any Restricted Subsidiary owing to the Borrower or any Restricted Subsidiary; provided that all such Indebtedness of any Loan Party owed to any Restricted Subsidiary that is not a Loan Party shall be subject to the Intercompany Subordination Agreement (but only to the extent such Intercompany Subordination Agreement is permitted by applicable Law and not giving rise to material adverse tax consequences to Holdings (or any parent of Holdings to the extent such material adverse tax consequence is related to its ownership of the equity interests in Holdings or the Borrower and its Restricted Subsidiaries), the Borrower or any of the Restricted Subsidiaries as determined by the Borrower in good faith);
(e)
(A) Indebtedness (including Capitalized Lease Obligations) of the Borrower or any Restricted Subsidiary financing the acquisition, construction, repair, replacement or improvement of fixed or capital assets or the Permitted Refinancing of any Indebtedness previously incurred for such purposes, including through the direct purchase of assets or the Equity Interests of any Person owning such assets; provided that other than any refinancing Indebtedness, such Indebtedness is incurred concurrently with, or within 365 days after, the applicable acquisition, construction, repair, replacement or improvement and (B) Indebtedness arising from the conversion of obligations of the Borrower or any Restricted Subsidiary under or pursuant to any “synthetic lease” transactions to Indebtedness of the Borrower or any Restricted Subsidiary; provided that the aggregate principal amount of such Indebtedness incurred and then outstanding pursuant to this Section 7.03(e), at the time of the incurrence thereof and after giving Pro Forma Effect thereto, shall not exceed the sum of (x) the amount outstanding on the Closing Date plus (y) 50% of
Exhibit A
the greater of (I) Closing Date EBITDA and (II) TTM Consolidated Adjusted EBITDA, calculated on a Pro Forma Basis as of the applicable date of determination;
(f)
(i) Incremental Equivalent Debt and (ii) any Permitted Refinancing of Indebtedness incurred pursuant to this Section 7.03(f);
(g)
Indebtedness of the Borrower or any Restricted Subsidiary in an aggregate principal amount at the time of the incurrence thereof and after giving Pro Forma Effect thereto not exceeding the sum of then-available Fixed Incremental Amount (excluding clause (b) of the definition thereof) at such time;
(h)
(i) Credit Agreement Refinancing Indebtedness and (ii) any Permitted Refinancing of Indebtedness incurred pursuant to this Section 7.03(h);
(i)
(i) Permitted Ratio Debt and (ii) any Permitted Refinancing of Indebtedness incurred pursuant to this Section 7.03(i);
(j)
Indebtedness incurred by a Non-Loan Party; provided that the aggregate principal amount of such Indebtedness incurred and then outstanding pursuant to this Section 7.03(j), together with (x) the aggregate principal amount of any Incremental Term Facilities and Incremental Revolving Facilities that are Other Secured Debt and (y) the aggregate principal amount of any Permitted Ratio Debt, Incurred Acquisition Debt and Incremental Equivalent Debt, in the case of this subclause (y), incurred or Guaranteed by a Non-Loan Party, shall not exceed the Non-Loan Party Debt Cap;
(k)
Indebtedness in respect of Hedge Agreements not incurred for speculative purposes;
(l)
Indebtedness,
(i)
that is Indebtedness of any Person that becomes a Restricted Subsidiary after the Closing Date, which Indebtedness is existing, or provided for under binding contracts existing, at the time such Person becomes a Restricted Subsidiary or is merged with or into a Restricted Subsidiary or with respect to a line of business or other assets acquired after the Closing Date; provided that (I) such Indebtedness was not created in contemplation thereof, (II) such Indebtedness is non-recourse to (and is not assumed by any of) the Borrower, Holdings, Intermediate Holdings or any other Restricted Subsidiary (other than any Subsidiary of such Person that is a Subsidiary of such Person on the date such Person becomes a Restricted Subsidiary or any other existing or future Subsidiary of such Person that is required by such Indebtedness to provide a Guarantee thereof so long as such requirement is not imposed in contemplation of such Person becoming a Restricted Subsidiary of the Borrower) and (III) such Indebtedness is either (A) unsecured or (B) secured only by the assets of such Person and its Subsidiaries by Liens permitted under Section 7.01;
(ii)
that is Indebtedness constituting indemnification obligations or obligations in respect of purchase price or other similar adjustments (including seller notes, “earn-outs” and deferred payments) incurred in a Permitted Acquisition, Investment, Disposition or other transaction, in each case incurred prior to or after the Closing Date;
(iii)
that is Indebtedness consisting of obligations under deferred compensation or other similar arrangements incurred in connection with the Transactions, a Permitted Acquisition, Investment or other transaction, in each case, incurred prior to or after the Closing Date; or
Exhibit A
(iv)
that is Pari Passu Lien Debt, Junior Lien Debt, Other Secured Debt or unsecured Indebtedness incurred to finance all or any portion of a Permitted Investment; provided that the aggregate principal amount of Indebtedness permitted to be incurred under this clause (iv) shall not exceed:
(1)
if such Indebtedness is unsecured or constitutes Other Secured Debt, on a Pro Forma Basis either:
(B)
the Total Net Leverage Ratio of the Borrower is equal to or less than 5.25 to 1.00; or
(C)
the Interest Coverage Ratio for the applicable Test Period is equal to or greater than 2.00 to 1.00;
(1)
if such Indebtedness is Junior Lien Debt, on a Pro Forma Basis, the Secured Net Leverage Ratio of the Borrower is equal to or less than 5.25 to 1.00; or
(2)
if such Indebtedness is Pari Passu Lien Debt, on a Pro Forma Basis, the First Lien Net Leverage Ratio of the Borrower is equal to or less than 4.00 to 1.00; or
(3)
if such Indebtedness is Pari Passu Lien Debt or Junior Lien Debt, a Debt Representative acting on behalf of the holders of such Indebtedness may (and has) become party to, or is otherwise subject to the provisions of (A) if such Indebtedness is Pari Passu Lien Debt, an Equal Priority Intercreditor Agreement as an “Additional First Lien Representative” (or similar designation) and any Junior Lien Intercreditor Agreement then in existence as a “Senior Priority Representative” (or similar designation) or (B) if such Indebtedness is Junior Lien Debt, a Junior Lien Intercreditor Agreement as a “Second Priority Representative” (or similar designation);
provided that the aggregate principal amount of Incurred Acquisition Debt incurred or Guaranteed by a Non-Loan Party, together with (x) the aggregate principal amount of any Incremental Term Facilities and Incremental Revolving Facilities that are Other Secured Debt and (y) the aggregate principal amount of any Permitted Ratio Debt, Incremental Equivalent Debt and any other Indebtedness under Section 7.03(j), in the case of this subclause (y), incurred or Guaranteed by a Non-Loan Party, shall not exceed the Non-Loan Party Debt Cap; and
(v)
any Permitted Refinancing of Indebtedness incurred pursuant to this Section 7.03(l);
(m)
(i) Contribution Indebtedness and (ii) any Permitted Refinancing thereof;
(n)
Indebtedness incurred in connection with the financing of insurance premiums in the ordinary course of business;
(o)
Indebtedness incurred in connection with any Sale Leaseback Transaction to the extent constituting Capitalized Lease Obligations;
(p)
Indebtedness incurred in connection with a Qualified Securitization Financing and, to the extent constituting Indebtedness, Receivables Financing Transactions, in each case, that is not recourse (except for Standard Securitization Undertakings) to the Borrower or any of the Restricted Subsidiaries not constituting Securitization Subsidiaries;
Exhibit A
(q)
(i) Indebtedness supported by a letter of credit (including a Letter of Credit) or bank guaranty in a principal amount not to exceed the face amount of such letter of credit or bank guarantee, (ii) Indebtedness in respect of letters of credit or bank guarantees that are cash collateralized and (iii) Indebtedness incurred by the Borrower or any Restricted Subsidiary in respect of letters of credit, bank guarantees, bankers’ acceptances, warehouse receipts or similar instruments issued or created, or related to obligations or liabilities incurred, in the ordinary course of business or consistent with past practice (including in favor of suppliers, trade creditors and landlords and in respect of workers compensation claims, health, disability or other employee benefits, or property, casualty or liability insurance or self-insurance, or other reimbursement-type obligations regarding workers compensation claims) or in connection with the enforcement of rights or claims of the Borrower or any Restricted Subsidiary in connection with any judgment that has not resulted in an Event of Default pursuant to Section 9.01(g);
(r)
(i) Cash Management Obligations and (ii) Indebtedness in respect of Cash Management Services, in each case, incurred in the ordinary course of business or consistent with past practice;
(s)
Indebtedness incurred on behalf of, or representing Guarantees of Indebtedness of, any Joint Ventures; provided that the aggregate outstanding principal amount of such Indebtedness incurred pursuant to this Section 7.03(s), determined at the time of each incurrence thereof, shall not exceed 25% of the greater of (I) Closing Date EBITDA and (II) TTM Consolidated Adjusted EBITDA, calculated on a Pro Forma Basis as of the applicable date of determination; provided, further, that, if any Indebtedness incurred pursuant to this clause (s) is made on behalf of Person that is not a Restricted Subsidiary on the date such Indebtedness is incurred (prior to giving effect thereto) and such Person subsequently becomes a Restricted Subsidiary, the Indebtedness initially incurred on behalf of such Person pursuant to this clause (s) shall thereupon be deemed to have been made pursuant to Section 7.03(d) and to not have been made pursuant to this clause (s);
(t)
[reserved];
(u)
Indebtedness consisting of (i) take-or-pay obligations incurred in the ordinary course of business and (ii) guarantees by the Borrower and its Restricted Subsidiaries of Indebtedness under customer financing lines of credit entered into in the ordinary course of business;
(v)
Indebtedness to current or former officers, directors, managers, consultants, and employees, their respective estates, spouses or former spouses of the Borrower or any Restricted Subsidiary to finance the purchase or redemption of Equity Interests of Holdings (or any direct or indirect parent thereof);
(w)
obligations in respect of performance, bid, appeal and surety bonds and performance, bankers’ acceptance facilities and completion guarantees and similar obligations provided by the Borrower or any of the Restricted Subsidiaries or obligations in respect of letters of credit, bank guarantees or similar instruments related thereto, in each case in the ordinary course of business or consistent with past practice;
(x)
any purchase price adjustment, earnout or deferred payment of a similar nature incurred in connection with an acquisition or other action permitted by Section 7.02 or Disposition permitted by Section 7.05, in each case, including any such Indebtedness incurred prior to the Closing Date;
(y)
Guarantees by the Borrower or any Restricted Subsidiary in respect of Indebtedness of the Borrower or such Restricted Subsidiary otherwise permitted hereunder; provided that if the Indebtedness being Guaranteed is subordinated in right of payment to the Obligations, such Guarantee shall be subordinated in right of payment to the Guaranty on terms at least as favorable to the Lenders as those contained in the subordination terms with respect to such Indebtedness;
Exhibit A
(z)
Indebtedness of the Borrower or any Restricted Subsidiary in an aggregate outstanding principal amount pursuant to this Section 7.03(z), determined at the time of the incurrence thereof not exceeding (x) 50% of the greater of (i) Closing Date EBITDA and (ii) TTM Consolidated Adjusted EBITDA, calculated on a Pro Forma Basis as of the applicable date of determination;
(aa)
[reserved];
(bb)
[reserved];
(cc)
(i) Permitted Debt Exchange Securities (to the extent constituting Indebtedness) and (ii) any Permitted Refinancing of Indebtedness incurred pursuant to this Section 7.03(cc); and
(dd)
all premiums (if any), interest (including post-petition interest), fees, expenses, charges and additional or contingent interest on obligations described in each of the clauses above.
For purposes of determining compliance with this Section 7.03, the Borrower may combine more than one basket for the purpose of incurring one item of Indebtedness and in the event that one item of Indebtedness (or any portion thereof) meets the criteria of more than one of the categories set forth above, the Borrower may, in its sole and absolute discretion, at the time of incurrence, divide, classify, reclassify, sequence or re-sequence at any later time based on the Indebtedness then outstanding and the basket then available, divide, classify, reclassify, sequence or re-sequence such item of Indebtedness (or any portion thereof) in any manner that complies with this covenant on the date such Indebtedness is incurred or such later time, as applicable; provided that all Indebtedness created pursuant to the Loan Documents will be deemed to have been incurred in reliance on the exception in clause (a) above and will not be permitted to be reclassified pursuant to this paragraph.
For the avoidance of doubt, any Indebtedness permitted to be incurred under any clause of this Section 7.03, unless required to be used for any specific purpose set forth therein, may be used to refinance, replace, renew, exchange or extend any outstanding Indebtedness, including any such Indebtedness incurred under any other clause of this Section 7.03 and any such Indebtedness with respect to which the incurrence of Permitted Refinancing is expressly permitted under the applicable clause of this Section 7.03, in each case, with respect to any refinancing, replacing, renewing, exchange or extension of any Junior Financing, subject to the restrictions set forth in Section 7.11.
The accrual of interest and the accretion of accreted value and the payment of interest in the form of additional Indebtedness shall not be deemed to be an incurrence of Indebtedness for purposes of this Section 7.03. In connection with the exchanging, extending, renewing, replacement or refinancing of any existing Indebtedness with newly incurred Indebtedness, the increase in the principal amount of such newly incurred Indebtedness in an amount equal to the sum of (i) the amount of all unpaid, accrued, or capital interest, penalties and premiums (including tender premiums) payable on the Indebtedness being exchanged, extended, renewed, replaced or refinanced and (ii) the amount of all underwriting discounts, fees, commissions, costs, expenses and other amounts payable (including the amount of all original issue discount) on such newly incurred Indebtedness shall not be deemed to be an incurrence of Indebtedness for purposes of this Section 7.03 or the incurrence of Indebtedness under the Loan Documents. Without limiting the provisions of Section 1.08(f), the execution of any commitment letter in respect of any Indebtedness whose terms are subject to negotiation and execution of definitive documentation shall not constitute an incurrence of Indebtedness for purposes of this Section 7.03. The principal amount of any non-interest bearing Indebtedness or other discount security constituting Indebtedness at any date shall be the principal amount thereof that would be shown on a balance sheet of the Borrower dated such date prepared in accordance with GAAP.
Exhibit A
Section 7.04
Fundamental Changes. Merge, dissolve, liquidate or consolidate with or into another Person (including, in each case, pursuant to a Delaware LLC Division), except that:
(a)
any Restricted Subsidiary may merge or consolidate with the Borrower; provided that:
(i)
the Borrower shall be the continuing or surviving Person; and
(ii)
such merger or consolidation does not result in the Borrower ceasing to be organized under the Laws of the United States, any state thereof or the District of Columbia;
(b)
any Restricted Subsidiary may merge or consolidate with or into any other Restricted Subsidiary or any Person that becomes a Restricted Subsidiary;
(c)
any merger the purpose of which is to reincorporate or reorganize a Restricted Subsidiary in another jurisdiction shall be permitted;
(d)
any Restricted Subsidiary may liquidate or dissolve; provided the surviving Person (or the Person who receives the assets of such dissolving or liquidated Restricted Subsidiary) shall be a Restricted Subsidiary or the Borrower;
(e)
subject, for the avoidance of doubt, to Section 1.08(f), so long as no Specified Event of Default exists or would result therefrom, the Borrower may merge or consolidate with any other Person (including Intermediate Holdings); provided that:
(a)
the Borrower shall be the continuing or surviving corporation organized in the United States; or
(b)
if the Person formed by or surviving any such merger or consolidation is not the Borrower;
(A)
such Person shall be an entity organized or existing under the laws of the United States, any state thereof or the District of Columbia;
(B)
such Person shall expressly assume all the obligations of the Borrower under this Agreement and the other Loan Documents to which the Borrower is a party pursuant to a supplement hereto and thereto in form reasonably satisfactory to the Administrative Agent;
(C)
each Guarantor, unless it is the other party to such merger or consolidation, shall have, by a supplement to the Guaranty, confirmed that its Guarantee of the Obligations shall apply to such Person’s obligations under this Agreement;
(D)
each Loan Party, unless it is the other party to such merger or consolidation, shall have, by a supplement to the Security Agreement, confirmed that its obligations thereunder shall apply to such Person’s obligations under this Agreement;
(E)
if requested by the Collateral Agent, each mortgagor of a Mortgaged Property, unless it is the other party to such merger or consolidation, shall have, by an amendment to or restatement of the applicable Mortgage (or other instrument reasonably satisfactory to the Collateral Agent), confirmed that its obligations thereunder shall apply to such Person’s obligations under this Agreement; and
Exhibit A
(F)
the Borrower shall have delivered to the Administrative Agent an officer’s certificate and an opinion of counsel, each stating that such merger or consolidation and such supplement to this Agreement or any Collateral Document comply with this Agreement, and, with respect to such opinion of counsel only, including customary organization, due execution, no conflicts and enforceability opinions to the extent reasonably requested by the Administrative Agent;
it being agreed that if the foregoing are satisfied, such Person will succeed to, and be substituted for, the Borrower under this Agreement;
(f)
the Borrower and the Restricted Subsidiaries may consummate any merger, consolidation or amalgamation, the purpose and only substantive effect of which is to reincorporate or reorganize the Borrower or any Restricted Subsidiary in a jurisdiction in the United States, any state thereof or the District of Columbia or to change its legal form, so long as the Liens granted pursuant to the Collateral Documents to which such Person is a party remain perfected and in full force and effect, to the extent otherwise required hereby; and
(g)
the Borrower and the Restricted Subsidiaries may consummate a merger, dissolution, liquidation, or consolidation, the purpose of which is to effect a Disposition permitted pursuant to Section 7.05, any Investment permitted by Section 7.02 or any Restricted Payment permitted by Section 7.06.
Section 7.05
Dispositions. Make any Disposition, except:
(a)
Dispositions of obsolete, damaged, worn out, used, immaterial, unneeded or surplus property (including for purposes of recycling), whether now owned or hereafter acquired and Dispositions of property of the Borrower and the Restricted Subsidiaries that is no longer used or useful in the conduct of the business or economically practicable or commercially desirable to maintain;
(b)
Dispositions of property in the ordinary course of business;
(c)
Dispositions of property to the extent that (i) such property is exchanged for credit against the purchase price of similar replacement property or (ii) the proceeds of such Disposition are promptly applied to the purchase price of such replacement property;
(d)
Dispositions of property to the Borrower or a Restricted Subsidiary to the extent, if constituting an Investment, permitted by Section 7.02;
(e)
to the extent constituting Dispositions, transactions permitted by Sections 7.02, 7.04 and 7.06 and Liens permitted by Section 7.01;
(f)
Dispositions of property pursuant to any Sale Leaseback Transactions; provided that (i) no Event of Default exists or would result therefrom (other than any such Disposition made pursuant to a legally binding commitment entered into at a time when no Event of Default exists) and (ii) such Disposition shall be for no less than the fair market value of such property at the time of such Disposition;
(g)
Dispositions of Cash Equivalents or Investments that were Cash Equivalents when made;
(h)
leases, subleases, licenses or sublicenses (including the provision of software under an open source license), in the ordinary course of business or which do not materially interfere with the business of the Borrower and the Restricted Subsidiaries, taken as a whole;
Exhibit A
(i)
Dispositions of property subject to Casualty Events;
(j)
Dispositions; provided that:
(i)
at the time of such Disposition (other than any such Disposition consummated pursuant to a legally binding commitment entered into at a time when no Event of Default exists), no Event of Default shall exist or would result from such Disposition;
(ii)
with respect to any Disposition pursuant to this clause (j) for a purchase price in excess of 35% of the greater of (A) Closing Date EBITDA and (B) TTM Consolidated Adjusted EBITDA, calculated on a Pro Forma Basis as of the applicable date of determination, the Borrower and the Restricted Subsidiaries shall receive, on a cumulative basis since the Closing Date, not less than 75% of the aggregate consideration in the form of cash or Cash Equivalents for all such Dispositions for a purchase price in excess of such amount; provided, however, that for the purposes of this clause (ii) each of the following shall be deemed to be cash,
(A)
any Indebtedness or other liabilities (as shown on the Borrower’s or a Restricted Subsidiary’s most recent balance sheet provided hereunder or in the footnotes thereto) of the Borrower or a Restricted Subsidiary, other than Indebtedness or other liabilities that are by their terms subordinated in right of payment to the Obligations (other than intercompany liabilities subject to the Intercompany Subordination Agreement), that are assumed by the transferee (or other third party) in connection with the applicable Disposition and for which the Borrower and all of the Restricted Subsidiaries shall have been validly released by all applicable creditors in writing (or with respect to any pension or similar liabilities, pursuant to the terms of the applicable Law) or that are otherwise cancelled or terminated in connection therewith;
(B)
any securities, notes or other obligations received by the Borrower or a Restricted Subsidiary from the purchaser that are converted by the Borrower or a Restricted Subsidiary into cash or Cash Equivalents or by their terms are required to be satisfied in for cash or Cash Equivalents (to the extent of the cash or Cash Equivalents received) within 180 days following the closing of the applicable Disposition; and
(C)
any Designated Non-Cash Consideration received in respect of such Disposition having an aggregate fair market value, taken together with all other Designated Non-Cash Consideration received pursuant to this clause (C) that is outstanding at the time of the receipt of such Designated Non-Cash Consideration, not in excess of 35% of the greater of (I) Closing Date EBITDA and (II) TTM Consolidated Adjusted EBITDA, calculated on a Pro Forma Basis as of the applicable date of determination, with the fair market value of each item of Designated Non-Cash Consideration being measured at the time received and without giving effect to subsequent changes in value; and
(iii)
such Disposition shall be for no less than the fair market value of such property at the time of such Disposition;
(k)
Dispositions of Investments in joint ventures to the extent required by, or made pursuant to customary buy/sell arrangements between, the joint venture parties set forth in joint venture arrangements and similar binding arrangements;
(l)
Dispositions or discounts of accounts receivable and related assets in connection with the collection, compromise or factoring thereof;
Exhibit A
(m)
Dispositions (including issuances or sales) of Equity Interests in, or Indebtedness owing by, or other securities of, an Unrestricted Subsidiary (other than Unrestricted Subsidiaries whose assets consist solely of cash and Cash Equivalents (other than cash and Cash Equivalents resulting from the sale of assets of or Equity Interests in, or issuance of Indebtedness of, such Unrestricted Subsidiary));
(n)
Dispositions to the extent of any exchange of like property (excluding any boot thereon permitted by such provision) for use in any business conducted by the Borrower or any of the Restricted Subsidiaries to the extent allowable under Section 1031 of the Code (or comparable or successor provision);
(o)
Dispositions in connection with the unwinding of any Hedge Agreement;
(p)
Dispositions by the Borrower or any Restricted Subsidiary of assets in connection with the closing or sale of a business location in the ordinary course of business of the Borrower and its Restricted Subsidiaries; provided that such sale shall be on commercially reasonable prices and terms in a bona fide arm’s-length transaction;
(q)
Dispositions (including bulk sales) of the inventory not in the ordinary course of business in connection with location closings, at arm’s length;
(r)
Dispositions of Securitization Assets to a Securitization Subsidiary in connection with a Qualified Securitization Financing or Dispositions in connection with a Receivables Financing Transaction; provided, that such Dispositions shall be for no less than the fair market value of such property at the time of such Disposition;
(s)
the lapse, abandonment or discontinuance of the use or maintenance of any Intellectual Property if the Borrower or any Restricted Subsidiary determines in its reasonable business judgment that such lapse, abandonment or discontinuance is desirable in the conduct of its business;
(t)
Dispositions of any property or asset with a fair market value not to exceed $7,500,000 with respect to any transaction or series of related transactions or $15,000,000 in the aggregate for all such transactions in any fiscal year (x) with any unused amounts being carried forward to the subsequent fiscal years and (y) any amounts available for use in future fiscal years being available in the current fiscal year (subject to a corresponding deduction in the amount available in such future fiscal year);
(u)
any surrender or waiver of contract rights or the settlement, release or surrender of contract rights or other litigation claims, in each case, in the ordinary course of business or otherwise based on the business judgments of the Board of Directors of the Borrower;
(v)
the issuance of directors’ qualifying shares and shares issued to foreign nationals as required by applicable Law;
(w)
(A) Disposition of assets acquired in a Permitted Acquisition or other Investment permitted hereunder that the Borrower determines will not be used or useful in the business of the Borrower and its Restricted Subsidiaries, (B) Disposition of assets in order to receive any antitrust or other regulatory approvals in connection with a Permitted Acquisition or other Investment permitted hereunder so long as the proceeds of such Disposition are used to finance such Permitted Acquisition or Investment or (C) Disposition of assets required by applicable Law;
(x)
[reserved]; and
(y)
Disposition made in connection with any Permitted IPO/Tax Reorganization.
Exhibit A
For purposes of determining compliance with this Section 7.05, the Borrower may combine multiple baskets for the purpose of consummating one Disposition and in the event that any Disposition (or any portion thereof) meets the criteria of more than one of the categories set forth above, the Borrower may, in its sole and absolute discretion, at the time such Disposition is made, divide, classify, reclassify, sequence or re-sequence or at any later time, divide, classify, reclassify, sequence or re-sequence such Disposition (or any portion thereof) in any manner that complies with this covenant on the date such Disposition is made or such later time, as applicable.
Section 7.06
Restricted Payments. Make any Restricted Payment, except:
(a)
each Restricted Subsidiary may make Restricted Payments to the Borrower and to any other Restricted Subsidiaries (and, in the case of a Restricted Payment by a non-wholly owned Restricted Subsidiary, to the Borrower or any such other Restricted Subsidiaries and to each other owner of Equity Interests of such Restricted Subsidiary according to the applicable terms of the relevant class of Equity Interests);
(b)
the Borrower and each of the Restricted Subsidiaries may declare and make dividend payments or other distributions (i) payable solely in the form of Equity Interests (other than Disqualified Equity Interests that are not permitted to be incurred by such Person under Section 7.03) of such Person or (ii) with the proceeds of any issuance of Qualified Equity Interests or contribution to the common equity capital of the Borrower after the Closing Date (other than any Specified Equity Contribution) that is Not Otherwise Applied;
(c)
[reserved];
(d)
to the extent constituting Restricted Payments, the Borrower and the Restricted Subsidiaries may enter into and consummate transactions expressly permitted by any provision of Section 7.02, 7.04, 7.05(r) or 6.13;
(e)
repurchases of Equity Interests in Holdings, the Borrower or any of the Restricted Subsidiaries deemed to occur upon exercise of stock options or warrants or similar rights if such Equity Interests represent a portion of the exercise price of such options or warrants or similar rights;
(f)
(x) the Borrower may pay (or make Restricted Payments to allow Holdings or any direct or indirect parent thereof to pay) and (y) any Restricted Subsidiary of the Borrower may pay, for the repurchase, retirement or other acquisition or retirement for value of Equity Interests of Holdings (or of any direct or indirect parent thereof) or any non-wholly owned Restricted Subsidiary held by any future, present or former employee, director, officer, consultant or distributors (or any spouses, former spouses, successors, executors, administrators, heirs, legatees or distributees of any of the foregoing) of the Borrower (or any direct or indirect parent of the Borrower) or any of its Subsidiaries upon the death, disability, retirement or termination of employment of any such Person or otherwise pursuant to any employee or director equity plan, employee or director stock option or profits interest plan or any other employee or director benefit plan or any agreement (including any separation, stock subscription, shareholder or partnership agreement) with any employee, director, officer, consultant or distributor of the Borrower (or any direct or indirect parent of the Borrower) any of its Subsidiaries; provided, the aggregate Restricted Payments made pursuant to this Section 7.06(f) after the Closing Date shall not exceed:
(i)
$40,000,000 in any calendar year (which shall increase to $65,000,000 after the consummation of a Qualifying IPO); provided that (i) unused amounts in any calendar year will be carried over to succeeding calendar years and (ii) any amounts that will be available in future calendar years may be used in the then applicable calendar year (subject to a corresponding
Exhibit A
deduction in the amount available in such future calendar year); plus
(ii)
an amount not to exceed the cash proceeds of key man life insurance policies received by the Borrower or the Restricted Subsidiaries (or by Holdings or a direct or indirect parent thereof and contributed to the Borrower or a Restricted Subsidiary in cash) after the Closing Date; plus
(iii)
to the extent contributed in cash to the common equity of the Borrower and Not Otherwise Applied, the proceeds from the sale of Equity Interests of Holdings or any direct or indirect parent thereof, in each case to employees, directors, officers, consultants or distributors of the Borrower, a direct or indirect parent thereof, or its Subsidiaries that occurs after the Closing Date; plus
(iv)
the amount of any cash bonuses or other compensation otherwise payable to any future, present or former director, employee, consultant or distributors of the Borrower, a direct or indirect parent thereof, or its Subsidiaries that are foregone in return for the receipt of Equity Interests of Holdings or a direct or indirect equity holder thereof, Borrower or any Restricted Subsidiary; plus
(v)
payments made in respect of withholding or other similar taxes payable upon repurchase, retirement or other acquisition or retirement of Equity Interests of Holdings or its Subsidiaries or otherwise pursuant to any employee or director equity plan, employee or director stock option or profits interest plan or any other employee or director benefit plan or any agreement;
provided, that cancellation of Indebtedness owing to the Borrower or any Restricted Subsidiary from any present or former employee, director, officer, consultant or distributors (or any spouses, former spouses, successors, executors, administrators, heirs, legatees or distributees of any of the foregoing) of the Borrower, any Restricted Subsidiary or direct or indirect parent of the Borrower in connection with a repurchase of Equity Interests of the Borrower or any of its direct or indirect parent will not be deemed to constitute a Restricted Payment;
(g)
the Borrower may make Restricted Payments to Holdings or to any direct or indirect parent of Holdings:
(i)
from time to time, to allow Holdings, any parent company or any other direct or indirect owner (as applicable) to satisfy any tax liability attributable to taxable income realized by the Borrower and its subsidiaries in the applicable tax year or any portion thereof, and reduced by any payments paid or to be paid directly by the Borrower or its subsidiaries with respect to such tax; provided, however, in determining the amount of any tax distribution, it shall be assumed that the amount of such payments with respect to any taxable period equals the amount that the Borrower and any such subsidiaries would have been required to pay in respect of such relevant federal, state, local or foreign taxes for such taxable period if the Borrower and such subsidiaries had paid such taxes as a separate consolidated, combined or unitary group separately from Holdings or any such parent company (or, if there are no such subsidiaries, on a separate company basis); provided, further, any such distributions attributable to tax liability in respect of income of an Unrestricted Subsidiary shall be permitted pursuant to this clause solely to the extent (A) of the amount of dividends or distributions actually received from such Unrestricted Subsidiary by the Borrower or its Restricted Subsidiaries or (B) the amount thereof is treated by the Borrower or its Restricted Subsidiaries as a corresponding Investment in such Unrestricted Subsidiary (in the case of this clause (B), with such amount constituting a utilization of the
Exhibit A
relevant basket or exception under Section 7.02 pursuant to which such amount is permitted);
(ii)
the proceeds of which will be used to pay, directly or indirectly, operating costs and expenses (including, following the consummation of a Qualifying IPO, Public Company Costs) of Holdings or its direct or indirect parents thereof 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), which are reasonable and customary and incurred in the ordinary course of business, attributable to the ownership or operations of the Borrower and its Subsidiaries;
(iii)
the proceeds of which will be used to pay franchise taxes and other fees, taxes and expenses, in each case, required to maintain its (or any of such direct or indirect parent’s) corporate or legal existence;
(iv)
to finance any Investment permitted to be made pursuant to Section 7.02; provided that (A) such Restricted Payment shall be made substantially concurrently with the closing of such Investment and (B) Holdings and the Borrower shall, immediately following the closing thereof, cause (1) all property acquired (whether assets or Equity Interests) to be contributed to the Borrower or a Restricted Subsidiary or (2) the merger (to the extent permitted in Section 7.04) of the Person formed or acquired by the Borrower or a Restricted Subsidiary in order to consummate such Investment;
(v)
the proceeds of which shall be used to pay (or make Restricted Payments to allow any direct or indirect parent thereof to pay) costs, fees and expenses (other than to Affiliates) related to any successful or unsuccessful equity or debt offering permitted by this Agreement; and
(vi)
the proceeds of which (A) will be used to pay salary, bonus and other benefits payable to officers and employees of Holdings or any direct or indirect parent company of Holdings to the extent such salaries, bonuses and other benefits are attributable to the ownership or operation of the Borrower and the Restricted Subsidiaries or (B) will be used to make payments permitted under Sections 6.13(e), (f), (g) and (l), (but only to the extent such payments have not been and are not expected to be made by the Borrower or a Restricted Subsidiary);
(h)
the Borrower or any of the Restricted Subsidiaries may pay cash in lieu of fractional Equity Interests in connection with any dividend, split or combination thereof or any Permitted Acquisition or Investment;
(i)
Restricted Payments made in connection with any Permitted IPO/Tax Reorganization;
(j)
Restricted Payments made in respect of working capital adjustments, purchase price adjustments or earn-out payments pursuant to any Permitted Investments;
(k)
the declaration and payment of dividends by the Borrower following a Qualifying IPO, up to the sum of (A) 6.00% of the net proceeds received by or contributed to the Borrower from such Qualifying IPO (if any) in any calendar year plus (B) 7.00% of the Market Capitalization in any calendar year, in each case, reduced, in any calendar year, by (i) [reserved], (ii) 100.0% of the aggregate outstanding principal amount of Investments made pursuant to Section 7.02(y)(iv) in such calendar year in reliance on this Section 7.06(k) under the Available RP Amount and (iii) 100.0% of the principal amount of any prepayments, repayments, redemptions, purchases, defeasances or other satisfaction of Junior Financings made pursuant to Section 7.11(vii)(3) in such calendar year in reliance on this Section 7.06(k) under the
Exhibit A
Available RP Amount; provided that (x) any unused amounts pursuant to clause (k)(A) in any calendar year may be carried forward into succeeding calendar years and (y) any amounts that will be available in future calendar years pursuant to clause (k)(A) may be used in the then applicable calendar year (subject to a corresponding deduction in the amount available in such future calendar year);
(l)
repurchases of Equity Interests (i) deemed to occur on the exercise of options by the delivery of Equity Interests in satisfaction of the exercise price of such options or (ii) in consideration of withholding or similar Taxes payable by any future, present or former employee, director, manager or consultant (or any spouses, former spouses, successors, executors, administrators, heirs, legatees or distributees of any of the foregoing) of the Borrower or any Restricted Subsidiary, including deemed repurchases in connection with the exercise of stock options or the vesting of any equity awards;
(m)
(i) the redemption, repurchase, retirement or other acquisition of any existing Equity Interests, including any accrued and unpaid dividends thereon of the Borrower, any direct or indirect parent of the Borrower or any Subsidiary Guarantor in exchange for, or out of the proceeds of, the substantially concurrent sale of, new Equity Interests of the Borrower or any direct or indirect parent of the Borrower or contributions to the equity capital of the Borrower (other than any Disqualified Equity Interests or any Equity Interests sold to a Subsidiary of the Borrower), and (ii) the declaration and payment of dividends on any existing Equity Interests out of the proceeds of the substantially concurrent sale (other than to a Subsidiary of the Borrower) of new Equity Interests;
(n)
payments or distributions to satisfy dissenters rights or the settlement of any claims or actions in connection therewith (whether actual, contingent or potential), in connection with a merger, consolidation or transfer of assets that complies with Section 7.02 or Section 7.04;
(o)
payments or distributions of a Restricted Payment within 60 days after the date of declaration thereof if at the date of declaration such Restricted Payment would have been permitted hereunder;
(p)
Restricted Payments to Holdings or to any direct or indirect parent of Holdings of Equity Interests in, Indebtedness owing by and/or other securities of, any Unrestricted Subsidiaries;
(q)
the Borrower may make Restricted Payments to Holdings in an aggregate amount not to exceed the sum of,
(i)
50% of the greater of (A) Closing Date EBITDA and (B) TTM Consolidated Adjusted EBITDA, calculated on a Pro Forma Basis as of the applicable date of determination, reduced by (A) [reserved], (B) 100.0% of the aggregate outstanding principal amount of Investments made pursuant to Section 7.02(y)(iv) in reliance on this Section 7.06(q)(i) under the Available RP Amount and (C) 100.0% of the principal amount of any prepayments, repayments, redemptions, purchases, defeasances or other satisfaction of Junior Financings made pursuant to Section 7.11(vii)(3) in reliance on this Section 7.06(q)(i) under the Available RP Amount,
(ii)
the Available Amount at such time; provided that any use of clause (b) of the Available Amount pursuant to this Section 7.06(q)(ii) shall be permitted only to the extent that no Specified Event of Default shall have occurred and be continuing or would immediately result therefrom;
(r)
unlimited Restricted Payments; provided that (i) the First Lien Net Leverage Ratio (after giving Pro Forma Effect to such Restricted Payment) would be less than or equal to 3.75 to 1.00 and (ii) no Event of Default shall have occurred and be continuing or would result therefrom; and
Exhibit A
(s)
distributions or payments of Securitization Fees.
For purposes of determining compliance with this Section 7.06, the Borrower may combine multiple baskets for the purpose of making one Restricted Payment and in the event that any Restricted Payment (or any portion thereof) meets the criteria of more than one of the categories set forth above, the Borrower may, in its sole and absolute discretion, at the time of such Restricted Payment is made, divide, classify, reclassify, sequence or re-sequence or at any later time divide, classify, reclassify, sequence or re-sequence such Restricted Payment (or any portion thereof) in any manner that complies with this covenant on the date such Restricted Payment is made or such later time, as applicable.
Section 7.07
[Reserved].
Section 7.08
[Reserved].
Section 7.09
Burdensome Agreements. Enter into or permit to exist any Contractual Obligation (other than this Agreement or any other Loan Document) that prohibits (a) any Restricted Subsidiary that is not a Loan Party from making Restricted Payments to (directly or indirectly), or from making or repaying loans or advances to, any Loan Party or (b) any Loan Party (other than Holdings) from creating, incurring, assuming or suffering to exist Liens on property of such Person to secure the Obligations under the Loan Documents; provided that the foregoing shall not apply to Contractual Obligations that:
(i)
(A) exist on the Closing Date and (B) to the extent Contractual Obligations permitted by clause (A) are set forth in an agreement evidencing Indebtedness, are set forth in any agreement evidencing any permitted modification, replacement, renewal, extension or refinancing of such Indebtedness so long as such modification, replacement, renewal, extension or refinancing does not expand the scope of such Contractual Obligation;
(ii)
are binding on a Restricted Subsidiary at the time such Restricted Subsidiary first becomes a Restricted Subsidiary (or at the time it is designated as a Restricted Subsidiary pursuant to Section 6.14), so long as such Contractual Obligations were not entered into in contemplation of such Person becoming a Restricted Subsidiary;
(iii)
are Contractual Obligations of or representing Indebtedness of a Restricted Subsidiary that is not a Loan Party; provided that such Indebtedness is permitted by Section 7.03;
(iv)
are restrictions that arise in connection with (A) any Lien permitted by Section 7.01, and relate to the property subject to such Lien or (B) any Disposition permitted by Section 7.05 applicable pending such Disposition solely to the assets (including Equity Interests) subject to such Disposition;
(v)
are provisions in joint venture agreements and other similar agreements applicable to joint ventures (including Joint Ventures) permitted under Section 7.02 and applicable solely to such joint venture (including Joint Venture) or Equity Interest issued thereby;
(vi)
are negative pledges and restrictions on Liens in favor of any holder of Indebtedness permitted under Section 7.03;
(vii)
are customary restrictions on leases, subleases, licenses or asset sale agreements otherwise permitted hereby so long as such restrictions relate to the assets subject thereto;
(viii)
comprise restrictions imposed by any agreement relating to secured Indebtedness
Exhibit A
permitted pursuant to Section 7.03 to the extent that such restrictions apply only to the property or assets securing such Indebtedness;
(ix)
are customary provisions restricting subletting or assignment of any lease governing a leasehold interest of the Borrower or any Restricted Subsidiary;
(x)
are customary provisions restricting assignment of any agreement entered into in the ordinary course of business;
(xi)
are restrictions on cash or other deposits imposed by customers under contracts entered into in the ordinary course of business;
(xii)
are customary net worth provisions contained in real property leases entered into by Holdings, the Borrower and the Restricted Subsidiaries in the ordinary course of business, so long as the Borrower has determined in good faith that such net worth provisions would not reasonably be expected to impair the ability of the Borrower and the other Restricted Subsidiaries to meet their ongoing obligations;
(xiii)
are restrictions created in connection with any Qualified Securitization Financing or Receivables Financing Transaction that in the good faith determination of the Borrower are necessary or advisable to effect such Qualified Securitization Financing or Receivables Financing Transaction and relate solely to the Securitization Assets or receivables, as applicable, subject thereto; and
(xiv)
apply by reason of any applicable Law or are required by any Governmental Authority having jurisdiction over the Borrower or any Restricted Subsidiary.
Section 7.10
Holding Company Indebtedness. None of Holdings and Intermediate Holdings shall create, incur, assume or permit to exist any Indebtedness other than the Guarantee of any Indebtedness permitted to be incurred under Section 7.03 and the incurrence of any Qualified Holding Company Debt; provided that, with respect to the incurrence of Qualified Holding Company Debt, no Event of Default shall have occurred and be continuing.
Section 7.11
Prepayments, Etc. of Junior Financing; Amendments to Junior Financing Documents.
(a)
Prepayments of Junior Financing. Prepay, repay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof any Junior Financing except:
(i)
any Permitted Refinancing of such Junior Financing;
(ii)
the conversion of any Junior Financing to Qualified Equity Interests of any Restricted Subsidiary or Equity Interests of Holdings or any of its direct or indirect parents;
(iii)
the prepayment of Indebtedness of the Borrower or any Restricted Subsidiary owed to Holdings, the Borrower or a Restricted Subsidiary to the extent permitted by the Intercompany Subordination Agreement;
(iv)
the prepayment, repayment, redemption, purchase, defeasance or satisfaction of any Junior Financing with the proceeds of (1) any other Junior Financing otherwise permitted to be incurred at such time by Section 7.03 or (2) any Qualified Equity Interests or contribution to
Exhibit A
the common equity capital of the Borrower after the Closing Date (other than any Specified Equity Contribution) that is Not Otherwise Applied;
(v)
the prepayment, repayment, redemption, purchase, defeasance or satisfaction of any Junior Financing within 60 days of giving notice thereof if at the date of such notice, such payment would have been permitted hereunder;
(vi)
prepayments, repayments, redemptions, purchases, defeasances or satisfactions, so long as no Event of Default has occurred and is continuing or would result therefrom and the First Lien Net Leverage Ratio (after giving Pro Forma Effect to the incurrence of such payments and the use of proceeds thereof) for the Test Period immediately preceding the making of such payments shall be less than 3.75 to 1.00;
(vii)
prepayments, repayments, redemptions, purchases, defeasances or satisfactions in an aggregate amount not to exceed the sum of (1) 60.0% of the greater of (A) Closing Date EBITDA and (B) TTM Consolidated Adjusted EBITDA, calculated on a Pro Forma Basis as of the applicable date of determination, (2) the Available Amount at such time and (3) the Available RP Amount at such time;
(viii)
the prepayment, repayment, redemption, purchase, defeasance or satisfaction of any Junior Financing with respect to any amount due within 12 months of such prepayment, repayment, redemption, purchase, defeasance or satisfaction thereof; and
(ix)
payments of regularly scheduled principal and interest (including default interest and any AHYDO catch-up payment) on Junior Financing, closing, consent, administrative and other fees related to Junior Financing, indemnity and expense reimbursement payments in connection with Junior Financing, and mandatory prepayments, mandatory redemptions and mandatory purchases, in each case pursuant to the terms of the applicable Junior Financing Documentation.
For purposes of determining compliance with this Section 7.11(a), in the event that any prepayment, repayment, redemption, purchase, defeasance or satisfaction (or any portion thereof) meets the criteria of more than one of the categories set forth above, the Borrower may, in its sole and absolute discretion, at the time of such prepayment, repayment, redemption, purchase, defeasance or satisfaction is made, divide, classify, reclassify, sequence or re-sequence or at any later time divide, classify, reclassify, sequence or re-sequence such prepayment, repayment, redemption, purchase, defeasance or satisfaction (or any portion thereof) in any manner that complies with this covenant on the date it was made or such later time, as applicable.
The amount set forth in Section 7.11(a)(vii)(1) may, in lieu of prepayments, repayments, redemptions, purchases, defeasance or satisfaction of any Junior Financing, be utilized by the Borrower or any Restricted Subsidiary to make or hold any Investments without regards to Section 7.02 or make Restricted Payments without regard to Section 7.06.
(b)
Amendments to Junior Financing. Amend, modify or change in any manner without the consent of the Administrative Agent any Junior Financing Documentation in a manner that is (or would be) materially adverse to the interests of the Lenders (taken as a whole), except as may be permitted pursuant to any applicable subordination agreement and except as a result of a Permitted Refinancing thereof; provided that a certificate of the Borrower delivered to the Administrative Agent at least 3 Business Days prior to such amendment or other modification, together with a reasonably detailed description of such amendment or modification, stating that the Borrower has reasonably determined in good faith that such
Exhibit A
terms and conditions satisfy such foregoing requirement shall be conclusive evidence that such terms and conditions satisfy such foregoing requirement unless the Administrative Agent notifies the Borrower within such 3 Business Day period that it disagrees with such determination (including a reasonably detailed description of the basis upon which it disagrees).
Article VIII
Financial Covenant
Financial Covenant
So long as any Revolving Commitments or Revolving Loans remain outstanding, the Borrower covenants and agrees that:
Section 8.01
First Lien Net Leverage Ratio. Commencing with the Test Period ending on the last day of the second full fiscal quarter ended after the Closing Date, the Borrower shall not permit the First Lien Net Leverage Ratio on the last day of such Test Period to be greater than 6.95 to 1.00, if and only if the Testing Condition is satisfied as of such date. To the extent required to be tested with respect to any Test Period pursuant to the preceding sentence, compliance with this Section 8.01 shall be determined on the date on which the Compliance Certificate for the applicable Test Period is delivered pursuant to Section 6.02(a) (the “Financial Covenant Determination Date”).
Section 8.02
Borrower’s Right to Cure. Notwithstanding anything to the contrary contained in Section 8.01, during the period commencing after the beginning of the last fiscal quarter included in every applicable Test Period and ending 15 Business Days after the Financial Covenant Determination Date (the “Cure Expiration Date”), the Borrower may deliver a notice of its intent (the “Notice of Intent to Cure”) to cause equity contribution (in the form of common equity (or other equity of the Borrower, that to the extent constituting Disqualified Equity Interests, is in a form reasonably satisfactory to the Administrative Agent)) made to the Borrower on or prior to the Cure Expiration Date, which amount, to the extent Not Otherwise Applied, shall be included in the calculation of Consolidated Adjusted EBITDA solely for the purposes of determining compliance with the Financial Covenant at the end of such Test Period and any subsequent period that includes a fiscal quarter in such Test Period (any such equity contribution, a “Specified Equity Contribution”); provided that,
(a)
(i) no Lender shall be required to make any new extension of credit and (ii) no Issuing Bank shall be obligated to issue, amend, extend the expiry date of a Letter of Credit or increase the amount thereof, in each case, under a Loan Document after the Financial Covenant Determination Date if the Borrower has not received the proceeds of such Specified Equity Contribution;
(b)
the Borrower shall not be permitted to request that a Specified Equity Contribution be included in the calculation of Consolidated Adjusted EBITDA with respect to any fiscal quarter unless, after giving effect to such requested Specified Equity Contribution, there would be at least 2 fiscal quarters in the Test Period ending on the last day of such fiscal quarter in which no Specified Equity Contribution has been made;
(c)
no more than 5 Specified Equity Contributions will be made in the aggregate during the term of this Agreement; provided that if the Revolving Loans made on the Closing Date have been extended pursuant to Section 2.18, there may be an additional fiscal quarter after the Original Revolving Maturity Date in which the cure rights set forth in this Section 8.02 are exercised during the term of the Facilities;
(d)
any proceeds of Specified Equity Contributions will be disregarded for all other purposes under the Loan Documents (including calculating Consolidated Adjusted EBITDA for purposes of determining basket levels, pricing and other items governed by reference to Consolidated Adjusted
Exhibit A
EBITDA or any ratio-based basket and the other negative covenants) except as contemplated by clause (e) below; and
(e)
there shall be no reduction in Indebtedness pursuant to a cash netting provision or otherwise with the proceeds of any Specified Equity Contribution for purposes of determining compliance with the financial covenant set forth in Section 8.01 for any Test Period in which such fiscal quarter is included unless with respect solely to future fiscal quarters such Specified Equity Contribution is actually applied to prepay any Indebtedness of the Borrower and its Restricted Subsidiaries.
Application of amounts of any Specified Equity Contribution in prepayment of outstanding amounts under a Facility shall be entirely at the discretion of the Borrower.
Article IX
Events of Default and Remedies
Events of Default and Remedies
Section 9.01
Events of Default. Each of the events referred to in clauses (a) through (k) of this Section 9.01 shall constitute an “Event of Default”:
(a)
Non-Payment. Any Loan Party fails to pay (i) when and as required to be paid herein, any amount of principal of any Loan or (ii) within 10 Business Days after the same becomes due, any interest on any Loan, any Reimbursement Obligation or any fee payable pursuant to the terms of a Loan Document; or
(b)
Specific Covenants.
(i)
Any Loan Party or Restricted Subsidiary fails to perform or observe any term, covenant or agreement contained in any of Section 6.03(a), 6.05(a) (solely with respect to the Borrower) or Article VII, or
(ii)
the Financial Covenant is breached, as determined on the Financial Covenant Determination Date (a “Financial Covenant Event of Default”); provided that a Financial Covenant Event of Default shall not constitute an Event of Default with respect to any Term Loans unless and until the date on which the Revolving Lenders have terminated all Revolving Commitments and declared all Revolving Loans to be immediately due and payable in accordance with this Agreement; or
(c)
Other Defaults. Any Loan Party or Restricted Subsidiary fails to perform or observe any other covenant or agreement (not specified in Section 9.01(a) or (b) above) contained in any Loan Document on its part to be performed or observed and such failure continues for 30 days after receipt by the Borrower of written notice thereof from the Administrative Agent; or
(d)
Representations and Warranties. Any representation, warranty, certification or statement of fact made or deemed made by any Loan Party in any Loan Document, or in any document required to be delivered pursuant to the terms of a Loan Document, shall be untrue in any material respect when made and if capable of being remedied, such representation, warranty, certification or statement of facts (if untrue) shall remain incorrect for 30 days after receipt by the Borrower of written notice thereof from the Administrative Agent; or
(e)
Cross-Default. The Borrower or any Subsidiary Guarantor,
(i)
fails to make any payment of principal or interest beyond the applicable grace
Exhibit A
period, if any, whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise, in respect of its Indebtedness having an aggregate outstanding principal amount of not less than the Threshold Amount; or
(ii)
fails to observe or perform any other agreement or condition relating to such Indebtedness having an aggregate outstanding principal amount of not less than the Threshold Amount, or any other event occurs (other than, with respect to Indebtedness consisting of Hedge Agreements, termination events or equivalent events pursuant to the terms of such Hedge Agreements), the effect of which default or other event is to cause, or to permit the holder or holders of such Indebtedness having an aggregate outstanding principal amount of not less than the Threshold Amount (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required and after giving effect to any applicable cure period, 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;
provided that this clause (e) shall not apply (A) to any Indebtedness under a Loan Document or any Indebtedness held exclusively by Affiliates of the Borrower, (B) with respect to clause (ii), to any secured Indebtedness that becomes due as a result of the sale or transfer of the property or assets (including as a result of a casualty or condemnation event) securing such Indebtedness, (C) to the failure to observe or perform any covenant applicable to any Indebtedness that requires compliance with any measurement of financial or operational performance (including any leverage, interest coverage or fixed charge ratio or minimum EBITDA) unless and until the holders of such Indebtedness have terminated all commitments (if any) and accelerated all obligations with respect thereto or (D) to any event or condition that is remedied, cured or waived by the applicable holders of such Indebtedness or ceases to exist prior to the termination of the Commitments and acceleration of the Loans permitted pursuant to Section 9.02; or
(f)
Insolvency Proceedings, Etc. Holdings, Intermediate Holdings, the Borrower or any Significant Subsidiary institutes or consents to the institution of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies for or consents to the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator, administrator, administrative receiver or similar officer for it or for all or any material part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator, administrator, administrative receiver or similar officer is appointed without the application or consent of such Person and the appointment continues undischarged or unstayed for 60 calendar days; or any proceeding under any Debtor Relief Law relating to any such Person or to all or any material part of its property is instituted without the consent of such Person and continues undismissed or unstayed for 60 calendar days, or an order for relief is entered in any such proceeding; or
(g)
Judgments. There is entered against Holdings, Intermediate Holdings, the Borrower or any Significant Subsidiary a final non-appealable judgment or final order for the payment of money by a court of competent jurisdiction in an aggregate amount exceeding the Threshold Amount (to the extent not covered by independent third-party insurance (as to which the insurer has been notified of such judgment or order and has not denied or failed to acknowledge coverage thereof) or another indemnity or applicable escrow arrangement) and such judgment or order shall not have been satisfied, vacated, discharged or stayed or bonded pending an appeal for a period of 60 calendar days; or
(h)
Invalidity of Loan Documents. Any material provision of the Loan Documents (other than in the case of this clause (h), the Collateral Documents and the Guaranty to which clause (i) below shall apply), taken as a whole, at any time after their execution and delivery and for any reason, ceases to be in full force and effect, except as expressly permitted under a Loan Document or as a result of the satisfaction
Exhibit A
of the Termination Conditions; or the Borrower or any Loan Party contests in writing the validity or enforceability of the Loan Documents, taken as a whole; or the Borrower or any Loan Party denies in writing that it has any further liability or obligation under the Loan Documents, taken as a whole (other than as a result of the satisfaction of the Termination Conditions); or
(i)
Collateral Documents and Guaranty. Any:
(i)
Collateral Document with respect to a material portion of the Collateral after delivery thereof shall for any reason cease to create a valid and, after giving effect to any perfection measures taken in connection therewith, perfected Lien in any material portion of the Collateral, except (A) as otherwise permitted by, or as a result of a transaction not prohibited by, the Loan Documents, (B) resulting from the failure of the Administrative Agent or the Collateral Agent to maintain possession or control of Collateral, (C) resulting from the making of a filing, or the failure to make a filing, under the Uniform Commercial Code or comparable documents, (D) as to Collateral consisting of real property to the extent that such losses are covered by a lender’s title insurance policy, if such insurer has been informed and such insurer has not denied coverage or (E) resulting from acts or omissions of a Secured Party or the application of applicable Law; or
(ii)
Guaranty with respect to a Guarantor that is Holdings or a Material Subsidiary shall for any reason (other than the satisfaction of the Termination Conditions or the release of such Guarantor as provided for under the Loan Documents) cease to be in full force and effect (other than in accordance with its terms) or shall be declared to be null and void; or
(j)
ERISA. (i) An ERISA Event occurs with respect to a Pension Plan or a Multiemployer Plan that, when taken together with all other such ERISA Events, has resulted or would reasonably be expected to result in a Material Adverse Effect, or (ii) the Borrower or any ERISA Affiliate fails to pay when due, after the expiration of any applicable grace period, any instalment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan in an aggregate amount which has resulted or would reasonably be expected to result in a Material Adverse Effect; or
(k)
Change of Control. There occurs any Change of Control.
Section 9.02
Remedies upon Event of Default.
(a)
Except as otherwise provided in Section 9.02(b) below, if any Event of Default occurs and is continuing, the Administrative Agent may with the written consent of the Required Lenders, and shall at the written request of the Required Lenders, take any or all of the following actions:
(i)
declare the Commitments of each Lender and the obligation of each Issuing Bank to issue Letters of Credit to be terminated, whereupon such Commitments and obligation shall be terminated;
(ii)
declare the unpaid principal amount of all outstanding Loans, all interest and premium accrued and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the Borrower and each Guarantor;
(iii)
require that the Borrower Cash Collateralize its Letters of Credit (in an amount equal to 101% of the maximum Stated Amount of all outstanding Letters of Credit); and
Exhibit A
(iv)
exercise on behalf of itself, the Issuing Banks and the Lenders all rights and remedies available to it, the Issuing Banks and the Lenders under the Loan Documents and/or under applicable Law;
provided that upon the occurrence of an actual or deemed entry of an order for relief with respect to the Borrower under any Debtor Relief Law, the Commitments of each Lender and the obligations of each Issuing Bank to issue Letters of Credit shall automatically terminate, the unpaid principal amount of all outstanding Loans and all interest and other amounts as aforesaid shall automatically become due and payable and the obligation of the Borrower to Cash Collateralize the Letters of Credit as aforesaid shall automatically become effective, in each case without further act of the Administrative Agent or any Lender.
(b)
If a Financial Covenant Event of Default has occurred and is continuing, the Required Revolving Lenders may either (i) terminate the Revolving Commitments and/or (ii) take the actions specified in Section 9.02(a) in respect of the Revolving Commitments, the Revolving Loans and Letters of Credit.
(c)
Notwithstanding anything to the contrary herein, if the only Event of Default then having occurred and continuing is the Financial Covenant Event of Default, then the Revolving Lenders and the Administrative Agent may not take any of the actions set forth in Section 9.02(a) or Section 9.02(b) during the period commencing on the date that the Administrative Agent receives a Notice of Intent to Cure and ending on the Cure Expiration Date with respect thereto in accordance with and to the extent permitted by Section 8.02.
(d)
Notwithstanding anything to the contrary herein, any court of competent jurisdiction may (x) extend or stay any grace period set forth in this Agreement or any other Loan Document prior to an actual or alleged Default becoming an actual or alleged Event of Default or (y) stay the exercise of remedies by any Agent or Agent-Related Person contemplated by this Agreement and the other Loan Documents or otherwise upon the occurrence of an actual or alleged Event of Default, in each case of clauses (x) and (y), in accordance with the requirements of applicable Law.
Section 9.03
Application of Funds. After the exercise of remedies provided for in Section 9.02 (or after the Loans have automatically become immediately due and payable as set forth in the proviso to Section 9.02(a)), any amounts received on account of the Obligations shall, subject to the Intercreditor Agreements, be applied by the Administrative Agent in the following order:
First, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (other than principal and interest, but including Attorney Costs payable under Section 11.04 and amounts payable under Article III) payable to the Administrative Agent in its capacity as such;
Second, to payment in full of Unfunded Advances/Participations (the amounts so applied to be distributed between or among, as applicable, the Administrative Agent, the Swing Line Lender and the Issuing Banks pro rata in accordance with the amounts of Unfunded Advances/Participations owed to them on the date of any such distribution);
Third, to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal and interest and Letter of Credit fees) payable to the Lenders and the Issuing Banks (including Attorney Costs payable under Section 11.04 and amounts payable under Article III), ratably among them in proportion to the amounts described in this clause Third payable to them;
Exhibit A
Fourth, to payment of that portion of the Obligations constituting accrued and unpaid Letter of Credit fees and interest on the Loans and Letter of Credit Usage, ratably among the Lenders and the Issuing Banks in proportion to the respective amounts described in this clause Fourth held by them;
Fifth, (a) to payment of that portion of the Obligations constituting unpaid principal of the Loans, the Letter of Credit Usage and the Obligations under Secured Hedge Agreements and Cash Management Obligations and (b) to Cash Collateralize Letters of Credit (to the extent not otherwise Cash Collateralized pursuant to the terms of this Agreement) in an amount equal to 101% of the aggregate Stated Amount of all outstanding Letters of Credit, ratably among the Secured Parties in proportion to the respective amounts described in this clause Fifth held by them; provided that (i) any such amounts applied pursuant to the foregoing subclause (b) shall be paid to the Administrative Agent for the ratable account of the Issuing Banks to Cash Collateralize such Letters of Credit, (ii) subject to Section 2.04 and Section 2.20, amounts used to Cash Collateralize the aggregate undrawn amount of Letters of Credit pursuant to this clause Fifth shall be applied to satisfy drawings under such Letters of Credit as they occur and (c) upon the expiration of any Letter of Credit with no pending drawings, the pro rata share of Cash Collateral attributable to such expired Letter of Credit shall be applied by the Administrative Agent in accordance with the priority of payments set forth in this Section 9.03;
Sixth, to the payment of all other Obligations of the Loan Parties that are due and payable to the Administrative Agent and the other Secured Parties on such date, ratably based upon the respective aggregate amounts of all such Obligations described in this clause Sixth owing to the Administrative Agent and the other Secured Parties on such date; and
Last, the balance, if any, after all of the Obligations have been paid in full, to the Borrower or as otherwise required by Law.
Notwithstanding the foregoing, amounts received from any Loan Party shall not be applied to any Excluded Swap Obligation of such Loan Party.
Article X
Administrative Agent and Other Agents
Administrative Agent and Other Agents
Section 10.01
Appointment and Authority of the Administrative Agent.
(a)
Each Lender and each Issuing Bank hereby irrevocably appoints Barclays to act on its behalf as the Administrative Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. The provisions of this Article X (other than Sections 10.09, 10.11, 10.12, 10.14, 10.15 and 10.18) are solely for the benefit of the Administrative Agent and the Lenders, and the Borrower shall not have any rights as a third party beneficiary of any such provision. Each Issuing Bank shall act on behalf of the Revolving Lenders with respect to any Letters of Credit issued by it and the documents associated therewith, and each Issuing Bank shall have all of the benefits and immunities (i) provided to the Agents in this Article X with respect to any acts taken or omissions suffered by such Issuing Bank in connection with Letters of Credit issued by it or proposed to be issued by it and the Letter of Credit Documentation pertaining to such Letters of Credit as fully as if the term “Agent” as used in this Article X and the definition of “Agent-Related Person” included such Issuing Bank with respect to such acts or omissions, and (ii) as additionally provided herein with respect to each Issuing Bank.
Exhibit A
(b)
The Administrative Agent shall also irrevocably act as the Collateral Agent (or similar title) under the Loan Documents, and each of the Lenders (including in its capacities as a potential Hedge Bank and/or Cash Management Bank or an affiliate thereof) and each of the Issuing Banks hereby irrevocably appoints and authorizes the Administrative Agent to act as the agent of (and to hold any security interest created by the Collateral Documents for and on behalf of or in trust for) such Lender and such Issuing Bank for purposes of acquiring, holding and enforcing any and all Liens on Collateral granted by any of the Loan Parties to secure any of the Obligations, together with such powers and discretion as are reasonably incidental thereto. In this connection, the Administrative Agent, as the Collateral Agent (or similar title) (and any co-agents, sub-agents and attorneys-in-fact appointed by the Administrative Agent pursuant to Section 10.05 for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Collateral Documents, or for exercising any rights and remedies thereunder at the direction of the Administrative Agent), shall be entitled to the benefits of all provisions of this Article X (including Section 10.07, as though such co-agents, sub-agents and attorneys-in-fact were the “collateral agent” under the Loan Documents) as if set forth in full herein with respect thereto. Without limiting the generality of the foregoing, the Lenders hereby expressly authorize the Administrative Agent to execute any and all documents (including releases) with respect to the Collateral and the rights of the Secured Parties with respect thereto (including the Intercreditor Agreements), as contemplated by and in accordance with the provisions of this Agreement and the Collateral Documents and acknowledge and agree that any such action by any Agent shall bind the Lenders.
(c)
The Administrative Agent represents to the Borrower that it is a “U.S. person” and a “financial institution” within the meaning of Treasury Regulations Section 1.1441-1 and a “U.S. financial institution” within the meaning of Treasury Regulations Section 1.1471-3T and that it will comply with its obligations to withhold under Section 1441 and FATCA.
Section 10.02
Rights as a Lender. Any Lender that is also serving as an Agent (including as Administrative Agent) hereunder shall have the same rights and powers (and no additional duties or obligations) in its capacity as a Lender as any other Lender and may exercise the same as though it were not an Agent and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include each Lender (if any) serving as an Agent hereunder in its individual capacity. Any Person serving as an Agent and its Affiliates may accept deposits from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of banking, trust or other business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not an Agent hereunder and without any duty to account therefor to the Lenders, and may accept fees and other consideration from the Borrower for services in connection herewith and otherwise without having to account for the same to the Lenders. The Lenders acknowledge that, pursuant to such activities, any Agent or its Affiliates may receive information regarding any Loan Party or any of its Affiliates (including information that may be subject to confidentiality obligations in favor of such Loan Party or such Affiliate) and acknowledge that no Agent shall be under any obligation to provide such information to them.
Section 10.03
Exculpatory Provisions. None of the Administrative Agent, any of the other Agents, any of their respective Affiliates, nor any of the officers, partners, directors, employees or agents of the foregoing shall have any duties or obligations except those expressly set forth herein and in the other Loan Documents. Without limiting the generality of the foregoing, an Agent (including the Administrative Agent) or any of their respective officers, partners, directors, employees or agents:
(a)
shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing and without limiting the generality of the foregoing, the use of the term “agent” herein and in the other Loan Documents with reference to any Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under any agency doctrine of any applicable Law
Exhibit A
and instead, such term is used merely as a matter of market custom, and is intended to create or reflect only an administrative relationship between independent contracting parties;
(b)
shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that such Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents), provided that no Agent shall be required to take any such action that, in its opinion or the opinion of its counsel, may expose such Agent to liability or that is contrary to any Loan Document or applicable Law, including for the avoidance of doubt refraining from any such action that, in its opinion or the opinion of its counsel, may contravene the terms of the Loan Documents, give rise to lender liabilities, violate the automatic stay under any Debtor Relief Law or effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law;
(c)
shall not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of their Affiliates that is communicated to or obtained by any Person serving as an Agent or any of its Affiliates in any capacity; and
(d)
shall not be liable to the Lenders for any action taken or omitted to be taken under or in connection with any of the Loan Documents except to the extent caused by such Agent’s gross negligence or willful misconduct, as determined by a final, non-appealable judgment of a court of competent jurisdiction.
The Administrative Agent shall not be liable to the Lenders for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in Sections 9.02 and 11.01) or (ii) in the absence of its own gross negligence or willful misconduct as determined by the final judgment of a court of competent jurisdiction, in connection with its duties expressly set forth herein. The Administrative Agent shall be deemed not to have knowledge of any Default or Event of Default unless and until notice describing such Default or Event of Default is given to the Administrative Agent by the Borrower or a Lender.
No Agent-Related Person shall be responsible for or have any duty to ascertain or inquire into (i) any recital, statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report, statement or agreement or other document delivered hereunder or thereunder or in connection herewith or therewith or referred to or provided for in, or received by the Administrative Agent under or in connection with this Agreement or any other Loan Document, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default (including compliance with the terms and conditions of Section 11.07(h)(iii) or (h)(iv)), (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document, or the creation, perfection or priority of any Lien purported to be created by the Collateral Documents, (v) the value or the sufficiency of any Collateral, or (vi) the satisfaction of any condition set forth in Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent, or to inspect the properties, books or records of any Loan Party or any Affiliate thereof.
The Administrative Agent shall not be responsible or have any liability to the Lenders for, or have any duty to ascertain, inquire into, monitor or enforce, compliance with the provisions hereof relating to Disqualified Lenders. Without limiting the generality of the foregoing, the Administrative Agent shall not
Exhibit A
(x) be obligated to ascertain, monitor or inquire as to whether any Lender or Participant or prospective Lender or Participant is a Disqualified Lender or (y) have any liability with respect to or arising out of any assignment or participation of Loans, or disclosure of confidential information, to any Disqualified Lender.
Section 10.04
Reliance by the Agents. The Agents shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. Each Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan or the issuance of a Letter of Credit that by its terms must be fulfilled to the satisfaction of a Lender or an Issuing Bank, each Agent may presume that such condition is satisfactory to such Lender or Issuing Bank unless the Administrative Agent shall have received notice to the contrary from such Lender or Issuing Bank prior to the making of such Loan or the issuance of such Letter of Credit. Each Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. Each Agent shall be fully justified in failing or refusing to take any action that is not required (it being agreed that the actions set forth in Section 10.11(b) are required) or explicitly approved by the Lenders under any Loan Document unless it shall first receive such advice or concurrence of the Required Lenders as it deems appropriate and, if it so requests, it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action.
The Agents shall in all cases be fully protected from liability to the Secured Parties in acting, or in refraining from acting, under this Agreement or any other Loan Document in accordance with a request or consent of the Required Lenders (or such greater number of Lenders as may be expressly required hereby in any instance) and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders; provided that the Agents shall not be required to take any action that, in their opinion or in the opinion of their counsel, may expose such Agent to liability or that is contrary to any Loan Document or applicable Law.
Section 10.05
Delegation of Duties. Each Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any other Loan Documents by or through any one or more sub agents appointed by such Agent. Each Agent and any such sub agent may perform any and all of its duties and exercise its rights and powers by or through their respective Agent-Related Persons. The exculpatory provisions of this Article shall apply to any such sub agent and to the Agent-Related Persons of the Agents and any such sub agent, and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as the Agents. Notwithstanding anything herein to the contrary, with respect to each sub agent appointed by an Agent, (i) such sub agent shall be a third party beneficiary under this Agreement with respect to all such rights, benefits and privileges (including exculpatory rights and rights to indemnification) and shall have all of the rights and benefits of a third party beneficiary, including an independent right of action to enforce such rights, benefits and privileges (including exculpatory rights and rights to indemnification) directly, without the consent or joinder of any other Person, against any or all of the Loan Parties and the Lenders, (ii) such rights, benefits and privileges (including exculpatory rights and rights to indemnification) shall not be modified or amended without the consent of such sub agent, and (iii) such sub agent shall only have obligations to the Agent that appointed it as sub agent and not to any Loan Party, Lender or any other Person and no Loan Party, Lender or any other Person shall have any rights, directly or indirectly, as a third party beneficiary or otherwise, against such sub agent. Each Agent shall not be responsible for the negligence or misconduct of any sub-agents except to the extent that a court of competent jurisdiction determines in a final and non-appealable
Exhibit A
judgment that such Agent acted with gross negligence or willful misconduct in the selection of such sub agents.
Section 10.06
Non-Reliance on Agents and Other Lenders; Disclosure of Information by Agents.
(a)
Each Lender and each Issuing Bank acknowledges that no Agent-Related Person has made any representation or warranty to it, and that no act by any Agent hereafter taken, including any consent to and acceptance of any assignment or review of the affairs of any Loan Party or any Affiliate thereof, shall be deemed to constitute any representation or warranty by any Agent-Related Person to any Lender as to any matter, including whether Agent-Related Persons have disclosed material information in their possession. Each Lender and each Issuing Bank represents to each Agent that it has, independently and without reliance upon any Agent-Related Person and based on such documents and information as it has deemed appropriate, made its own appraisal of, and investigation into, the business, prospects, operations, property, financial and other condition and creditworthiness of the Loan Parties and their respective Subsidiaries, and all applicable bank or other regulatory Laws relating to the transactions contemplated hereby, and made its own decision to enter into this Agreement and to extend credit to the Borrower and the other Loan Parties hereunder. Each Lender and each Issuing Bank also represents that it will, independently and without reliance upon any Agent, any other Lender or any Agent-Related Person and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Loan Documents, and to make such investigations as it deems necessary to inform itself as to the business, prospects, operations, property, financial and other condition and creditworthiness of the Borrower and the other Loan Parties. Except for notices, reports and other documents expressly required to be furnished to the Lenders by any Agent herein, such Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of any of the Loan Parties or any of their respective Affiliates which may come into the possession of any Agent-Related Person.
(b)
Each Lender, by delivering its signature page to this Agreement or an Assignment and Assumption and funding its Term Loan and/or Revolving Loans on the Closing Date, shall be deemed to have acknowledged receipt of, and consented to and approved, each Loan Document and each other document required to be approved by any Agent, Required Lenders or Lenders, as applicable on the Closing Date.
(c)
Each Lender acknowledges that certain Affiliates of the Loan Parties, including the Sponsor or entities controlled by the Sponsor, are Eligible Assignees hereunder and may purchase Loans and/or Commitments hereunder from the Lenders from time to time, subject to the restrictions set forth in the definition of “Eligible Assignee” and Section 11.07.
Section 10.07
Indemnification of Agents. Whether or not the transactions contemplated hereby are consummated, the Lenders shall indemnify upon demand the Administrative Agent, each Agent, each Issuing Bank, the Swing Line Lender and each other Agent-Related Person (solely to the extent any such Agent-Related Person was performing services on behalf of any Agent or any Issuing Bank or the Swing Line Lender, as applicable) (to the extent not reimbursed by or on behalf of any Loan Party and without limiting the obligation of any Loan Party to do so), pro rata, and hold harmless the Administrative Agent, each Agent, each Issuing Bank, the Swing Line Lender and each other Agent-Related Person (solely to the extent any such Agent-Related Person was performing services on behalf of any Agent or each Issuing Bank, or the Swing Line Lender, as applicable) from and against any and all Indemnified Liabilities incurred by it; provided that no Lender shall be liable for the payment to any Agent-Related Person of any portion of such Indemnified Liabilities resulting from such Agent-Related Person’s own gross negligence or willful
Exhibit A
misconduct, as determined by a final, non-appealable judgment of a court of competent jurisdiction; provided that, to the extent each Issuing Bank or the Swing Line Lender is entitled to indemnification under this Section 10.07 solely in its capacity and role as an Issuing Bank or the Swing Line Lender, only the Revolving Lenders shall be required to indemnify the applicable Issuing Bank or the Swing Line Lender in accordance with this Section 10.07 (determined as of the time that the applicable payment is sought based on each Revolving Lender’s Pro Rata Share thereof at such time); 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 Loan Documents) shall be deemed to constitute gross negligence or willful misconduct for purposes of this Section 10.07. If any indemnity furnished to any Agent, any Issuing Bank or the Swing Line Lender for any purpose shall, in the opinion of such Agent, such Issuing Bank or the Swing Line Lender be insufficient or become impaired, such Agent or such Issuing Bank or the Swing Line Lender, may call for additional indemnity and cease, or not commence, to do the acts indemnified against until such additional indemnity is furnished; provided, in no event shall this sentence require any Lender to indemnify any Agent, any Issuing Bank or the Swing Line Lender against any Indemnified Liabilities in excess of such Lender’s pro rata share thereof; and provided further, this sentence shall not be deemed to require any Lender to indemnify any Agent or any Issuing Bank or the Swing Line Lender against any Indemnified Liabilities described in the first proviso in the immediately preceding sentence. In the case of any investigation, litigation or proceeding giving rise to any Indemnified Liabilities, this Section 10.07 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 each Agent and each Issuing Bank and the Swing Line Lender, upon demand for its ratable share of any costs or out-of-pocket expenses (including Attorney Costs) incurred by such Agent or such Issuing Bank or the Swing Line Lender, in connection with the preparation, execution, delivery, administration, modification, amendment or enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice in respect of rights or responsibilities under, this Agreement, any other Loan Document, or any document contemplated by or referred to herein, to the extent that such Agent or such Issuing Bank or the Swing Line Lender, 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; provided, further, that the failure of any Lender to indemnify or reimburse such Agent or such Issuing Bank or the Swing Line Lender shall not relieve any other Lender of its obligation in respect thereof. The undertaking in this Section 10.07 shall survive termination of the Aggregate Commitments, the payment of all other Obligations and the resignation of the Administrative Agent, Collateral Agent, other Agents and any Issuing Bank.
Section 10.08
No Other Duties; Other Agents, Lead Arrangers, Managers, Etc.
Barclays, Macquarie Capital (USA) Inc., Goldman Sachs Bank USA, Deutsche Bank Securities Inc., UBS Securities LLC, BofA Securities, Inc., Jefferies Finance LLC, KKR Capital Markets LLC and Citizens Bank, N.A. and each Lender hereby authorizes each of Barclays, Macquarie Capital (USA) Inc., Goldman Sachs Bank USA, Deutsche Bank Securities Inc., UBS Securities LLC, BofA Securities, Inc., Jefferies Finance LLC, KKR Capital Markets LLC and Citizens Bank, N.A. to act as Lead Arrangers in accordance with the terms hereof and the other Loan Documents.
Each Agent hereby agrees to act in its capacity as such upon the express conditions contained herein and the other Loan Documents, as applicable. Anything herein to the contrary notwithstanding, none of the Lead Arrangers or the other Agents listed on the cover page hereof (or any of their respective Affiliates) shall have any powers, duties or responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the Administrative Agent, the Collateral Agent or a Lender hereunder and such Persons shall have the benefit of this Article X. Without limiting the foregoing, none of the Lenders or other Persons so identified shall have or be deemed to have any agency or fiduciary or trust relationship with any Lender, Holdings, the Borrower, or any of their respective Subsidiaries. Each
Exhibit A
Lender acknowledges that it has not relied, and will not rely, on any of the Lenders or other Persons so identified in deciding to enter into this Agreement or in taking or not taking action hereunder. Any Agent may resign from such role at any time, with immediate effect, by giving prior written notice thereof to the Administrative Agent and Borrower.
Section 10.09
Resignation of Administrative Agent or Collateral Agent. The Administrative Agent or the Collateral Agent may at any time give notice of its resignation to the Lenders and the Borrower. Upon receipt of any such notice of resignation, the Required Lenders shall have the right, subject to the consent of the Borrower (such consent not to be unreasonably withheld, conditioned or delayed), at all times other than during the existence of a Specified Event of Default, to appoint a successor, which shall be a Lender or a bank with an office in the United States, or an Affiliate of any such Lender or bank with an office in the United States and who is a “U.S. person” and a “financial institution” within the meaning of Treasury Regulations Section 1.1441-1(b)(2)(ii). 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 Administrative Agent or Collateral Agent, as applicable, gives notice of its resignation, then the retiring Administrative Agent or Collateral Agent, as applicable, may on behalf of the Lenders, appoint a successor Administrative Agent or Collateral Agent, as applicable, meeting the qualifications set forth above (including the consent of the Borrower); provided that if the Administrative Agent or Collateral Agent, as applicable, shall notify the Borrower and the Lenders that no qualifying Person has accepted such appointment, then such resignation shall nonetheless become effective in accordance with such notice and (a) the retiring Administrative Agent or Collateral Agent, as applicable, shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the case of any collateral security held by the Administrative Agent or Collateral Agent on behalf of the Lenders under any of the Loan Documents, the retiring Agent shall continue to hold such collateral security until such time as a successor of such Agent is appointed) and (b) except for any indemnity payments or other amounts owed to the retiring or retired Administrative Agents, all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by or to each Lender directly, until such time as the Required Lenders appoint a successor Administrative Agent as provided for above in this Section. If neither the Required Lenders nor the Administrative Agent have appointed a successor Administrative Agent, the Required Lenders shall be deemed to have succeeded to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent (subject to the proviso in the sentence above). Upon the acceptance of a successor’s appointment as Administrative Agent or Collateral Agent, as applicable, 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 perfect or continue the perfection of the Liens granted or purported to be granted by the Collateral Documents, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired) Administrative Agent or Collateral Agent, as applicable (other than any rights to indemnity payments or other amounts owed to the retiring or retired Administrative Agent), and the retiring Administrative Agent or Collateral Agent, as applicable, shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this Section). The fees payable by the Borrower to a successor Administrative Agent or Collateral Agent, as applicable, 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 Loan Documents, the provisions of this Article and Sections 10.07, 11.04 and 11.05 shall continue in effect for the benefit of such retiring Agent, its sub-agents and their respective Agent-Related Persons in respect of any actions taken or omitted to be taken by any of them while the retiring Agent was acting as Administrative Agent or Collateral Agent, as applicable.
Section 10.10
Administrative Agent May File Proofs of Claim; Credit Bidding. In case of the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding relative
Exhibit A
to any Loan Party, the Administrative Agent (irrespective of whether the principal of any Loan or in respect of Letter of Credit Obligations 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 (but not obligated), by intervention in such proceeding or otherwise:
(a)
to file a verified statement pursuant to rule 2019 of the Federal Rules of Bankruptcy Procedure that, in its sole opinion, complies with such rule’s disclosure requirements for entities representing more than one creditor;
(b)
to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans, Letter of Credit Obligations and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders, the Issuing Banks and the Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders, the Issuing Banks and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders, the Issuing Banks and the Administrative Agent under Sections 2.11 and 11.04) allowed in such judicial proceeding; and
(c)
to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same;
and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender and each Issuing Bank to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the Lenders and the Issuing Banks, 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 2.11 and 11.04. To the extent that the payment of any such compensation, expenses, disbursements and advances of the Administrative Agent, its agents and counsel, and any other amounts due the Administrative Agent under Sections 2.11 and 11.04 out of the estate in any such proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien on, and shall be paid out of, any and all distributions, dividends, money, securities and other properties that the Lenders or the Issuing Banks may be entitled to receive in such proceeding whether in liquidation or under any plan of reorganization or arrangement or otherwise.
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 or any Issuing Bank any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or any Issuing Bank or to authorize the Administrative Agent to vote in respect of the claim of any Lender or any Issuing Bank in any such proceeding.
The Secured Parties hereby irrevocably authorize the Administrative Agent, at the direction of the Required Lenders, to credit bid all or any portion of the Obligations (including accepting some or all of the Collateral in satisfaction of some or all of the Obligations pursuant to a deed in lieu of foreclosure or otherwise) and in such manner purchase (either directly or through one or more acquisition vehicles) all or any portion of the Collateral (i) at any sale thereof conducted under the provisions of the Bankruptcy Code of the United States, including under Sections 363, 1123 or 1129 of the Bankruptcy Code of the United States, or any similar Laws in any other jurisdictions to which a Loan Party is subject and (ii) at any other sale or foreclosure or acceptance of collateral in lieu of debt conducted by (or with the consent or at the direction of) the Administrative Agent (whether by judicial action or otherwise) in accordance with any
Exhibit A
applicable Law. In connection with any such credit bid and purchase, the Obligations owed to the Secured Parties shall be entitled to be, and shall be, credit bid on a ratable basis (with Obligations with respect to contingent or unliquidated claims receiving contingent interests in the acquired assets on a ratable basis that would vest upon the liquidation of such claims in an amount proportional to the liquidated portion of the contingent claim amount used in allocating the contingent interests) in the asset or assets so purchased (or in the Equity Interests or debt instruments of the acquisition vehicle or vehicles that are used to consummate such purchase). In connection with any such bid (A) the Administrative Agent shall be authorized to form one or more acquisition vehicles to make a bid, (B) the Administrative Agent shall be authorized to adopt documents providing for the governance of the acquisition vehicle or vehicles (provided that any actions by the Administrative Agent with respect to such acquisition vehicle or vehicles, including any disposition of the assets or Equity Interests thereof shall be governed, directly or indirectly, by the vote of the Required Lenders, irrespective of the termination of this Agreement and without giving effect to the limitations on actions by the Required Lenders contained in clauses (a) through (i) of Section 11.01 of this Agreement), (C) the Administrative Agent shall be authorized to assign the relevant Obligations to any such acquisition vehicle pro rata by the Lenders, as a result of which each of the Lenders shall be deemed to have received a pro rata portion of any Equity Interests and/or debt instruments issued by such an acquisition vehicle on account of the assignment of the Obligations to be credit bid, all without the need for any Secured Party or acquisition vehicle to take any further action and (D) to the extent that Obligations that are assigned to an acquisition vehicle are not used to acquire Collateral for any reason (as a result of another bid being higher or better, because the amount of Obligations assigned to the acquisition vehicle exceeds the amount of debt credit bid by the acquisition vehicle or otherwise), such Obligations shall automatically be reassigned to the Lenders pro rata and the Equity Interests and/or debt instruments issued by any acquisition vehicle on account of the Obligations that had been assigned to the acquisition vehicle shall automatically be cancelled, without the need for any Secured Party or any acquisition vehicle to take any further action.
Section 10.11
Collateral and Guaranty Matters.
(a)
Each of the Lenders (including in its capacities as a potential Cash Management Bank and a potential Hedge Bank or an Affiliate thereof) and each Issuing Bank irrevocably authorizes the Administrative Agent and the Collateral Agent to be the agent for and representative of the Lenders and Issuing Bank with respect to the Guaranty, the Collateral and the Collateral Documents.
(b)
Each Agent, each Lender and each other Secured Party agrees that, notwithstanding anything to the contrary in any Loan Document:
(i)
Liens on any property granted to or held by an Agent or in favor of any Secured Party under any Loan Document will be automatically released or subordinated, as applicable, without further action from any Person (and as applicable, this provision constitutes the express authorization from the Secured Parties of the disposition of such property free of such Lien under Section 9-315 of the UCC (or similar provisions under applicable Laws)),
(A)
upon satisfaction of the Termination Conditions;
(B)
at the time the property subject to such Lien is transferred (or to be transferred) as part of, or in connection with, any transfer permitted under the Loan Documents to any Person that is not a Loan Party,
(C)
if the property subject to such Lien is owned by a Guarantor, upon release of such Guarantor from its obligations under its Guaranty pursuant to clause (ii) below;
(D)
subject to Section 11.01 in respect of releases of all or substantially all of
Exhibit A
the Collateral, if the release of such Lien is approved, authorized or ratified in writing by the Required Lenders;
(E)
upon such property becoming an Excluded Asset or Excluded Equity Interest;
(F)
upon any property becoming subject to a Securitization Financing or Receivables Financing Transaction to the extent required by the terms of such Securitization Financing or Receivables Financing Transaction; and/or
(G)
upon delivery of written notice by the Borrower, if the property is subject to a Lien that is permitted under (i) Section 7.01(c), (e), (l), (m)(i), (n), (q) or (o) or (ii) Section 7.01(u), (v) or (x), to the extent such Lien is of the type referred to or constitutes a modification, renewal or extension of any Lien described in clause (i).
(ii)
Any Subsidiary Guarantor will be automatically released without further action from any Person if such Subsidiary Guarantor ceases to be a Subsidiary or becomes an Excluded Subsidiary (in each case, as certified in writing by a Responsible Officer), except that such automatic release shall only occur upon delivery of written notice of release from the Borrower with respect to any Excluded Subsidiary that is added as a Subsidiary Guarantor pursuant to the proviso to the definition of “Excluded Subsidiary” (including any Immaterial Subsidiary or non-wholly owned Subsidiary that is added as a Subsidiary Guarantor pursuant to such proviso); provided that no Subsidiary Guarantor will be released solely as a result of such Subsidiary Guarantor ceasing to be a wholly owned Subsidiary unless one of the following conditions is satisfied: (I) (a) such transaction is entered into for a bona fide business purpose (as determined in good faith by the Borrower) and, for the avoidance of doubt, not the primary purpose of causing such release and (b) the portion of Equity Interests that caused such Guarantor to cease to be wholly owned were not transferred to an Affiliate of the Borrower (other than for purposes of a bona fide joint venture arrangement on terms that are not less favorable than arms-length terms), (II) such Person ceases to constitute a “Subsidiary” under the Loan Documents or (III) such Person otherwise constitutes an Excluded Subsidiary (other than solely on account of constituting a non-wholly owned Subsidiary), and
(iii)
upon request of the Borrower in connection with any Liens permitted by the Loan Documents, the Administrative Agent or Collateral Agent, as applicable, shall (without notice to, or vote or consent of, any Secured Party) take such actions as shall be required to subordinate the Lien on any Collateral to any Lien permitted under Section 7.01 to be senior to the Liens in favor of the Collateral Agent.
Each Agent, each Lender and each other Secured Party agrees that upon written request from the Borrower, the Administrative Agent and the Collateral Agent shall promptly take such action and execute any such documents as may be reasonably requested by the Borrower, including filing UCC termination statements, filing Intellectual Property releases, returning possession of possessory Collateral, and executing and filing other instruments, releases and documents evidencing the release of such Liens or Guarantors, as applicable, at the Borrower’s sole cost and expense, in connection with any of the foregoing releases (or, if requested by the Borrower, to confirm the subordination in writing its Lien pursuant to clause (b)(i)(G) above). Each of the Collateral Agent and the Administrative Agent shall be entitled to and shall rely exclusively on an officer’s certificate of the Borrower that one or more conditions set forth in clause (b)(i) or (b)(ii) above are satisfied, without any independent verification. Each Lender and each Secured Party irrevocably authorizes and irrevocably directs the Collateral Agent and the Administrative Agent to take such actions and execute any such documents and consents to such reliance. Notwithstanding anything
Exhibit A
set forth above, it is understood and agreed that such written release is customarily requested for the convenience of facilitating any transfer of property to a third-party purchaser or for similar reasons but such written release shall not be required for any such release to become effective (which release is governed by clauses (b)(i) and (b)(ii) above) and any prior requests from the Borrower for such written release shall not impose on the Borrower an obligation to seek such releases in future transactions. Neither the Administrative Agent nor the Collateral Agent shall be responsible for or have a duty to ascertain or inquire into any representation or warranty regarding the existence, value or collectability of the Collateral, the existence, priority or perfection of the Collateral Agent’s Lien thereon, or contained in any certificate prepared or delivered by the Borrower or any Loan Party in connection with the Collateral or compliance with the terms set forth above or in a Loan Document, nor shall the Administrative Agent or Collateral Agent be responsible or liable to the Lenders for any failure to monitor or maintain any portion of the Collateral.
Section 10.12
Lender Actions.
Each Lender (on its own behalf and on behalf of its Affiliates holding any Obligations) agrees that it shall not, and hereby waives any right to, take, institute, intervene or otherwise participate in any actions or proceedings, judicial or otherwise, for any right or remedy under the Loan Documents against any Loan Party, including with respect to any Collateral, other than through the Administrative Agent or the Collateral Agent at the written direction of the Required Lenders (or, solely with respect to the exercise of remedies under Section 9.02(b), the Required Revolving Lenders) and that in any action or proceeding commenced by the Required Lenders (or, solely with respect to the exercise of remedies under Section 9.02(b), the Required Revolving Lenders) or the Administrative Agent with the written direction of the Required Lenders (or, solely with respect to the exercise of remedies under Section 9.02(b), the Required Revolving Lenders), its interest in such action or proceeding is adequately represented by the Required Lenders or the Administrative Agent, as applicable. For the avoidance of doubt, this paragraph may be enforced against any Lender by the Required Lenders, the Agents or the Borrower and each Lender and the Agents expressly acknowledge that this paragraph shall be available as a defense of the Borrower or any other Loan Party in any action or proceeding.
The foregoing shall not prohibit (i) the Administrative Agent from exercising on its own behalf the rights and remedies that inure to its benefit (solely in its capacity as Administrative Agent) hereunder and under the other Loan Documents, (ii) any Issuing Bank or the Swing Line Lender from exercising on its own behalf the rights and remedies that inure to its benefit (solely in its capacity as an Issuing Bank or the Swing Line Lender, as applicable) hereunder and under the other Loan Documents, (iii) any Lender from exercising setoff rights in accordance with Section 11.09 (subject to the terms of Section 2.15) or (iv) any Lender from filing proofs of claim or appearing and filing pleadings on its own behalf during the pendency of a proceeding relative to the Borrower or any Loan Party under any Debtor Relief Law; provided that if at any time there is no Person acting as Administrative Agent hereunder and under the other Loan Documents, then (A) the Required Lenders shall have the rights otherwise provided to the Administrative Agent pursuant to Article IX and (B) in addition to the matters set forth in clauses (ii), (iii) and (iv) of this paragraph and subject to Section 2.15, any Lender may, with the consent of the Required Lenders, enforce any rights or remedies available to it and as authorized by the Required Lenders.
Section 10.13
Appointment of Supplemental Administrative Agents.
(a)
It is the purpose of this Agreement and the other Loan Documents that there shall be no violation of any Law of any jurisdiction denying or restricting the right of banking corporations or associations to transact business as agent or trustee in such jurisdiction. It is recognized that in case of litigation under this Agreement or any of the other Loan Documents, and in particular in case of the enforcement of any of the Loan Documents, or in case the Administrative Agent deems that by reason of
Exhibit A
any present or future Law of any jurisdiction it may not exercise any of the rights, powers or remedies granted herein or in any of the other Loan Documents or take any other action which may be desirable or necessary in connection therewith, the Administrative Agent is hereby authorized to appoint an additional individual or institution selected by the Administrative Agent in its sole and absolute discretion as a separate trustee, co-trustee, administrative agent, collateral agent, administrative sub-agent or administrative co-agent (any such additional individual or institution being referred to herein individually, as a “Supplemental Administrative Agent” and, collectively, as “Supplemental Administrative Agents”).
(b)
In the event that the Administrative Agent appoints a Supplemental Administrative Agent with respect to any Collateral, (i) each and every right, power, privilege or duty expressed or intended by this Agreement or any of the other Loan Documents to be exercised by or vested in or conveyed to the Administrative Agent with respect to such Collateral shall be exercisable by and vest in such Supplemental Administrative Agent to the extent, and only to the extent, necessary to enable such Supplemental Administrative Agent to exercise such rights, powers and privileges with respect to such Collateral and to perform such duties with respect to such Collateral, and every covenant and obligation contained in the Loan Documents and necessary to the exercise or performance thereof by such Supplemental Administrative Agent shall run to and be enforceable by either the Administrative Agent or such Supplemental Administrative Agent, and (ii) the provisions of this Article X and of Sections 11.04 and 11.05 that refer to the Administrative Agent shall inure to the benefit of such Supplemental Administrative Agent and all references therein to the Administrative Agent shall be deemed to be references to the Administrative Agent and/or such Supplemental Administrative Agent, as the context may require.
(c)
Should any instrument in writing from any Loan Party be required by any Supplemental Administrative Agent so appointed by the Administrative Agent for more fully and certainly vesting in and confirming to him or it such rights, powers, privileges and duties, the Borrower or Holdings, as applicable, shall, or shall cause such Loan Party to, execute, acknowledge and deliver any and all such instruments promptly upon request by the Administrative Agent. In case any Supplemental Administrative Agent, or a successor thereto, shall die, become incapable of acting, resign or be removed, all the rights, powers, privileges and duties of such Supplemental Administrative Agent, to the extent permitted by Law, shall vest in and be exercised by the Administrative Agent until the appointment of a new Supplemental Administrative Agent.
Section 10.14
Intercreditor Agreements.
(a)
Each Lender (i) understands, acknowledges and agrees that Liens may be created on the Collateral pursuant to the definitive documents governing such Indebtedness, which liens shall be subject to the terms and conditions of any Intercreditor Agreement, (ii) hereby agrees that it will be bound by and will take no actions contrary to the provisions of any Intercreditor Agreement and (iii) hereby authorizes and instructs the Administrative Agent and Collateral Agent to enter into any Intercreditor Agreement (and any amendments, amendments and restatements, restatements or waivers of or supplements to or other modifications to, such agreements in connection with the incurrence by any Loan Party of any permitted Pari Passu Lien Debt or Junior Lien Debt or any Permitted Refinancing of the foregoing, in order to permit such Indebtedness to be secured by a valid, perfected lien (with such priority as may be designated by the Borrower or relevant Subsidiary, to the extent such priority is permitted by the Loan Documents)), and to subject the Liens on the Collateral securing the Obligations to the provisions thereof.
(b)
Pursuant to the express terms of the Intercreditor Agreements, in the event of any conflict or inconsistency between the provisions of the Intercreditor Agreements and this Agreement, the provisions of the Intercreditor Agreements shall govern and control.
Section 10.15
Secured Cash Management Agreements and Secured Hedge Agreements.
Exhibit A
Except as otherwise expressly set forth herein or in any Guaranty or any Collateral Document, no Cash Management Bank or Hedge Bank that obtains the benefits of Section 9.03, any Guaranty or any Collateral by virtue of the provisions hereof or of any Guaranty or any Collateral Document shall have any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral or any Guaranty (including the release or impairment of any Collateral or Guaranty) other than in its capacity as a Lender and, in such case, only to the extent expressly provided in the Loan Documents. Notwithstanding any other provision of this Article X 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, Cash Management Obligations or Obligations arising under Secured Hedge Agreements unless the Administrative Agent has received written notice of such Cash Management Obligations or such Obligations arising under Secured Hedge Agreements, together with such supporting documentation as the Administrative Agent may request, from the applicable Cash Management Bank or Hedge Bank, as the case may be.
Section 10.16
Withholding Taxes. To the extent required by any applicable Law, the Administrative Agent may withhold from any payment to any Lender an amount equivalent to any applicable withholding tax (for the avoidance of doubt, including backup withholding). If any Governmental Authority 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 or was not properly executed or because such Lender failed to notify the Administrative Agent of a change in circumstance which rendered the exemption from, or reduction of, withholding tax ineffective or for any other reason, or if the Administrative Agent reasonably determines that a payment was made to a Lender pursuant to this Agreement without deduction of applicable withholding tax from such payment, such Lender shall indemnify the Administrative Agent fully for all amounts paid, directly or indirectly, by the Administrative Agent as tax or otherwise, including any penalties or interest and together with all expenses (including legal expenses, allocated internal costs and out-of-pocket expenses) incurred.
Section 10.17
Certain ERISA Matters.
(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 the Collateral Agent and their respective Affiliates and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that at least one of the following is and will be true:
(i)
such Lender is not using “plan assets” (within the meaning of the Department of Labor regulation located at 29 C.F.R. 2510.3-101, as modified by Section 3(42) of ERISA) 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, the Commitments or this Agreement,
(ii)
the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house asset managers), is applicable and the conditions are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Commitments, the Letters of Credit and this Agreement,
Exhibit A
(iii)
(A) such Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer and perform the Loans, the Commitments, the Letters of Credit and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Commitments, 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 Commitments, 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.
(b)
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 subclause (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 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, the Collateral Agent and their respective Affiliates and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that neither the Administrative Agent, the Collateral Agent nor any of their respective Affiliates is 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, the Commitments and/or this Agreement (including in connection with the reservation or exercise of any rights by the Administrative Agent or the Collateral Agent under this Agreement, any Loan Document or any documents related hereto or thereto).
Section 10.18
Return of Certain Payments.
(a)
If the Administrative Agent notifies a Lender, Issuing Bank or Secured Party, or any Person who has received funds on behalf of a Lender, Issuing Bank or Secured Party such Lender or Issuing Bank (any such Lender, Issuing Bank, Secured Party or other recipient, 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 received by such Payment Recipient from the Administrative Agent or any of its Affiliates were erroneously transmitted to, or otherwise erroneously or mistakenly received by, such Payment Recipient (whether or not known to such Lender, Issuing Bank, Secured Party or other Payment Recipient on its behalf) (any such funds, whether received as a payment, prepayment or repayment of principal, interest, fees, distribution or otherwise, individually and collectively, an “Erroneous Payment”) and demands the return of such Erroneous Payment (or a portion thereof), such Erroneous Payment shall at all times remain the property of the Administrative Agent, and such Lender, Issuing Bank or Secured Party 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 2 Business Days thereafter, 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 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 Overnight Rate and Federal Funds 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.
Exhibit A
(b)
Without limiting immediately preceding clause (a), each Payment Recipient hereby further 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 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 (a “Payment Notice”), (y) that was not preceded or accompanied by a Payment Notice, or (z) that such Payment Recipient otherwise becomes aware was transmitted, or received, in error or by mistake (in whole or in part) in each case:
(i)
(A) in the case of immediately preceding clauses (x) or (y), an error shall be presumed to have been made (absent written confirmation from the Administrative Agent to the contrary) or (B) an error 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 Payment Recipient shall promptly (and, in all events, within one Business Day of its knowledge of such error) 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 10.18(b).
(c)
Each Lender, Issuing Bank or Secured Party hereby authorizes the Administrative Agent to set off, net and apply any and all amounts at any time owing to such Lender, Issuing Bank or Secured Party under any Loan Document, or otherwise payable or distributable by the Administrative Agent to such Lender, Issuing Bank or Secured Party from any source, against any amount due to the Administrative Agent under immediately preceding clause (a) or under the indemnification provisions of this Agreement.
(d)
In the event that an Erroneous Payment (or portion thereof) is not recovered by the Administrative Agent for any reason, after demand therefor by the Administrative Agent in accordance with immediately preceding clause (a), from any Lender or Issuing Bank 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 request to such Lender or Issuing Bank at any time, (i) such Lender or Issuing Bank shall be deemed to have assigned its Loans (but not its Commitments) of the relevant Class 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 Commitments) of the Erroneous Payment Impacted Class, the “Erroneous Payment Deficiency Assignment”) 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 Assumption (or, to the extent applicable, an agreement incorporating an Assignment and Assumption 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 or Issuing Bank shall deliver any Notes evidencing such Loans to the Borrower or the Administrative Agent, (ii) the Administrative Agent as the assignee Lender shall be deemed to acquire the Erroneous Payment Deficiency Assignment and (iii) upon such deemed acquisition, the Administrative Agent as the assignee Lender shall become a Lender or Issuing Bank, as applicable, hereunder with respect to such Erroneous Payment Deficiency Assignment and the assigning Lender or assigning Issuing Bank shall cease to be a Lender or Issuing Bank, 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 or assigning
Exhibit A
Issuing Bank. For the avoidance of doubt, no Erroneous Payment Deficiency Assignment will reduce the Commitments of any Lender or Issuing Bank and such Commitments shall remain available in accordance with the terms of this Agreement.
(e)
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 waiver of any defense based on “discharge for value” or any similar doctrine
(f)
Each party’s obligations, agreements and waivers under this Section 10.18 shall survive the resignation or replacement of the Administrative Agent, the termination of the Commitments and/or the repayment, satisfaction or discharge of all Obligations (or any portion thereof) under any Loan Document.
(g)
Notwithstanding anything to the contrary herein or in any other Loan Document, this Section 10.18 will not create any additional Obligations of the Loan Parties under the Loan Documents or otherwise increase or alter such Obligations.
Article XI
Miscellaneous
Miscellaneous
Section 11.01
Amendments, Waivers, Etc.
(a)
General. Except as otherwise set forth below or elsewhere in this Agreement or in the other Loan Documents, no amendment or waiver of any provision of this Agreement or any other Loan Document, and no consent to any departure by the Borrower or any Restricted Subsidiary therefrom, shall be effective without the consent of the Required Lenders and each such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; it being understood and agreed that, without limitation, each of the following shall only require the consent of the Required Lenders and shall not otherwise give rise to any additional consent right of any Lender hereunder:
(i)
except as contemplated by Section 11.01(d)(i), any amendment to the definition of any financial ratio or test, including the First Lien Net Leverage Ratio, the Secured Net Leverage Ratio, the Total Net Leverage Ratio, the Interest Coverage Ratio, and any component definition thereof;
(ii)
any waiver, amendment or modification to the terms applicable to mandatory prepayment obligations under Section 2.07(b), to the extent such waiver, amendment or modification applies to all Classes of Loans subject to such mandatory prepayment obligation;
(iii)
any amendment to the definition of “Default Rate”; and
(iv)
any amendment to add one or more additional credit facilities to this Agreement and (I) to permit the extensions of credit from time to time outstanding thereunder and the accrued interest and fees in respect thereof, to share ratably in the benefits of this Agreement and the other Loan Documents with the Loans and the accrued interest and fees in respect thereof and (II) to include appropriately the Lenders holding such credit facilities in any determination of the Required Lenders or similar definitions with respect to any Class.
(b)
Fundamental Rights. This Agreement and the other Loan Documents may only be amended or waived (but in each case, without the consent of the Required Lenders or any other Lender) to:
Exhibit A
(i)
extend or increase the Commitment of any Lender or extend the final expiration date of any Letter of Credit beyond the Letter of Credit Facility Expiration Date, with the written consent of each Lender directly and adversely affected thereby;
(ii)
postpone any date scheduled for or reduce the amount of, any payment of principal or interest under Section 2.04(c), Section 2.09 or Section 2.10 or with respect to any fees payable under Section 2.11(b) or 2.11(c), with the written consent of each Lender directly and adversely affected thereby;
(iii)
reduce the principal of, or the rate of interest specified herein on, any Loan or Letter of Credit or any fees or other amounts payable hereunder or under any other Loan Document, with the written consent of each Lender directly and adversely affected thereby;
(iv)
reduce the percentages specified in the definitions of the term “Required Lenders”, “Required Revolving Lenders” or “Required Facility Lenders” or amend, modify or waive any provision of this Section 11.01 that has the effect of decreasing the number of the applicable Lenders or removing the consent right of any Lender that must approve any amendment, waiver or consent with respect to any matter set forth herein, with the written consent of each Lender;
(v)
other than in connection with a transfer or other transaction permitted under the Loan Documents, release all or substantially all of the aggregate value of the Collateral in any transaction or series of related transactions, with the written consent of each Lender;
(vi)
other than in connection with a transfer or other transaction permitted under the Loan Documents, release all or substantially all of the aggregate value of the Guaranty, with the written consent of each Lender; and
(vii)
change the currency of any Loans, with the written consent of each Lender directly and adversely affected thereby.
(c)
Consent of Specific Persons or Classes. With respect to any amendment, waiver or consent under this Agreement or any other Loan Document:
(i)
no amendment, waiver or consent shall, unless in writing and signed by an Issuing Bank, affect the rights or duties of, or any fees or other amounts payable to, such Issuing Bank under this Agreement, any Issuance Notice or any other Loan Document relating to any Letter of Credit issued or to be issued by it,
(ii)
no amendment, waiver or consent shall, unless in writing and signed by the Swing Line Lender, affect the rights or duties of, or any fees or other amounts payable to, the Swing Line Lender under this Agreement or any other Loan Document,
(iii)
no amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent, affect the rights or duties of, or any fees or other amounts payable to, the Administrative Agent under this Agreement or any other Loan Document and
(iv)
no amendment, waiver or consent shall, unless in writing and signed by the Collateral Agent, affect the rights or duties of, or any fees or other amounts payable to, the Collateral Agent under this Agreement or any other Loan Document,
Exhibit A
(v)
no amendment, waiver or consent to Section 11.07(g) shall be made unless in writing and signed by each Granting Lender all or any part of whose Loans are being funded by an SPC at the time of such amendment, waiver or consent,
(vi)
the definition of “Letter of Credit Sublimit” or “Swing Line Sublimit” may be amended with the consent of the applicable Issuing Banks and the Borrower,
(vii)
subject to the additional consent rights set forth in Section 11.01(b) or the clauses above in this Section 11.01(c)(i) – (vi), any amendment or waiver that by its terms affects the rights or duties of Lenders holding Loans and/or Commitments of a particular Class but not the rights or duties of Lenders holding Loans and/or Commitment of any other Class shall only require the consent of the applicable Required Facility Lenders (and not, for the avoidance of doubt, the Required Lenders), including, for the avoidance of doubt:
(A)
the Required Facility Lenders with respect to any Class of Revolving Commitments (and only the Required Facility Lenders with respect to such Class of Revolving Commitments) may amend, waive or otherwise modify any provision of the paragraph immediately succeeding the applicable table in the definition of “Applicable Rate” and in the definition of “Applicable Commitment Fee” in Section 1.01 which provides for an agreement, consent or waiver by the Required Facility Lenders,
(B)
the Required Revolving Lenders (and only the Required Revolving Lenders) may amend, waive or otherwise modify (1) any condition precedent set forth in Section 4.02 with respect to making Revolving Loans, Swing Line Loans or the issuance of Letters of Credit and (2) the terms and provisions of Section 8.01 and/or Section 8.02 (and any definitions directly or indirectly used in connection therewith, but not, for the avoidance of doubt, as used in any other Section or provision hereunder) and waive the Financial Covenant Event of Default,
(C)
the Required Facility Lenders with respect to any Class of Loans and/or Commitments may amend, waive or otherwise modify any mandatory prepayment obligations set forth in Section 2.07(b) as applicable to such Class to the extent such amendment, waiver or modification would reduce, postpone or waive any prepayment obligation of the Borrower applicable to such Class,
(D)
the Required Facility Lenders with respect to any Class of Loans and/or Commitments may waive any obligation of the Borrower to pay interest at the Default Rate under the applicable Class, and
(E)
the Required Revolving Lenders or the other Required Facility Lenders, as applicable, may make any amendment to or waive the terms of this Agreement as they solely relate to the applicable Class of Loans or Commitments, if such terms would be permitted to be modified in a Refinancing Amendment entered into for the purpose of refinancing in full such Class of Loans or Commitments,
(viii)
except to the extent (A) incurred in connection with any debtor-in-possession financing or (B) the subordination of any Lien permitted under Section 10.11(b), contractually (x) subordinate the Lien on the Collateral securing the Obligations to any other Lien on the Collateral securing any other Indebtedness for borrowed money incurred by any Loan Party or (y) subordinate in payment priority the Obligations to any other Indebtedness for borrowed money incurred by any Loan Party, in each case of clauses (x) and (y), without the written consent
Exhibit A
of each directly and adversely affected Lender, except to the extent such Lender is offered a reasonable, bona fide opportunity to participate on a no less than pro rata basis in any portion of such Indebtedness for borrowed money that is made available, which offer shall remain open to such Lender for a period of no less than five Business Days (provided that if such Lender does not accept an offer to provide its pro rata share of the portion of such Indebtedness for borrowed money that is made available within the time specified for acceptance of such offer being made, such Lender shall be deemed to have declined such offer).
(d)
Amendments without (Existing) Lender Consents. Each of the following amendments shall not require the consent of any Lender except as expressly set forth therein:
(i)
the Borrower may enter into any Incremental Amendment in accordance with Section 2.16, any Refinancing Amendment in accordance with Section 2.17 and any Extension Amendment in accordance with Section 2.18 with the applicable Lenders providing the facilities thereunder and such Incremental Amendment, Refinancing Amendment and Extension Amendment shall be effective to amend the terms of this Agreement and the other applicable Loan Documents, in each case, without any further action or consent of any other party to any Loan Document. In connection with the execution of any such amendment, the Borrower and the Lenders providing such Facilities may include (1) such terms to reflect the existence of terms of the Incremental Facilities, Refinancing Loans, Refinancing Commitments, Extended Loans and Extended Commitments, as applicable, (2) such terms solely applicable to each such Facility expressly permitted under, and subject to compliance with, the terms of this Agreement, including the conditions for the funding of such Facility, optional prepayment terms, mandatory prepayment terms, call premium terms, covenant and events of default terms and (3) any customary and technical changes that are commonly included in such amendments in the syndicated “term loan B” market, as determined by the Borrower and the Lenders providing such Facilities in good faith (including in reliance of advice of counsel); provided that the operational and agency provisions applicable to each Incremental Term Facility that constitutes Pari Passu Lien Debt will be reasonably satisfactory to the Administrative Agent. In connection with the establishment of any additional Classes of revolving commitments under this Agreement, the applicable amendment may include (1) such terms expressly permitted, and subject to compliance with, the terms of this Agreement, (2) such terms extending the protection of the Financial Covenant to such additional Classes of revolving commitments, (3) the inclusion of such additional Classes of revolving commitments in the definition of “Required Facility Lenders”, “Required Lenders” and “Required Revolving Lenders” as if the references to “Revolving Commitments” or “Revolving Exposure” thereunder were references to all remaining Revolving Commitments (if any) and all other then-existing Classes of revolving commitments hereunder.
(ii)
no Lender consent shall be required for the Administrative Agent or Collateral Agent to (A) enter into any Security Agreement Supplement or other supplemental Collateral Document as expressly contemplated by the applicable Collateral Document or (B) determine the proper form of any Collateral Document in its reasonable discretion, which may be further amended or supplemented, at the request of the Borrower, to (1) comply with local Law or at the advice of local counsel, (2) correct or cure ambiguities, omissions, mistakes or defects, (3) cause such Collateral Documents to be consistent with the terms of this Agreement or the other Loan Documents;
(iii)
with respect to the Intercreditor Agreements, (A) no Lender consent shall be required for the Administrative Agent or Collateral Agent to enter into any Intercreditor Agreement in the form attached to this Agreement (with necessary administrative and technical
Exhibit A
changes) to the extent such intercreditor arrangement is permitted under this Agreement (including for the establishment of more than one tranche of Junior Lien Debt) and (B) no Lender consent or the consent of the Administrative Agent or Collateral Agent shall be required to effect any amendment or supplement to any Intercreditor Agreement solely for the purpose of adding additional Debt Representatives and/or Loan Parties to such agreement as expressly contemplated by the terms thereof;
(iv)
no consent of any Lender shall be required with respect to any amendment to any Loan Document that, in the reasonable opinion of the Administrative Agent and the Borrower: (A) corrects or cures any ambiguities, errors, omissions or defects in any Loan Document, including the fixing of any incorrect cross references or similar inaccuracies in any Loan Document, (B) effects administrative, technical or immaterial changes and (C) (1) solely adds benefits to one or more Classes of existing Facilities, including but not limited to, increase in the applicable margin, interest rate floor, prepayment premium, call protection, amortization schedule (including necessary or advisable changes to cause any Incremental Facility to be fungible with the Term Loans), (2) adds a financial covenant for the benefit of one or more Classes of existing Facilities (or makes covenant levels more favorable to the applicable Lenders thereof), (3) changes any covenant terms that are more favorable to the Lenders of one or more Classes of existing Facilities or (4) adds additional Guarantors or Collateral, in each case, including in connection with the implementation of any requirements for the incurrence of any Incremental Facilities, Incremental Equivalent Debt, Permitted Ratio Debt, Credit Agreement Refinancing Indebtedness or any Permitted Refinancing of any Indebtedness;
(v)
no Lender consent shall be required for the Administrative Agent or Collateral Agent to enter into any subordination agreement in connection with the establishment of any Junior Financing pursuant to payment subordination terms substantially the same as the terms set forth in the Intercompany Subordination Agreement or other customary payment subordination terms; and
(vi)
no Lender consent shall be required for the Administrative Agent and the Borrower to enter into Benchmark Replacement Conforming Changes.
(e)
Lender Confirmation. With respect to (i) any matter set forth in Section 11.01(d)(ii) – (v), (ii) any matter in respect of which the Administrative Agent or the Collateral Agent is entitled to exercise any discretion (in its reasonable discretion or otherwise) without the consent of any Lender or (iii) any matter that is determined by the Borrower to comply with the terms of this Agreement and the other Loan Documents, the Administrative Agent (solely with respect to matters set forth in clause (i) (solely in respect of matters set forth in Section 11.01(d)(iii)(B) or 11.01(d)(v) above) or (ii) above) or the Borrower (in each case of clauses (i) – (iii) above) may nevertheless elect to submit such matter to all Lenders for their confirmation by making a written request to all Lenders directly or, in the case of the Borrower, indirectly through the Administrative Agent. If within 5 Business Days following the delivery of such request, such request for confirmation has not been objected to in writing by Lenders constituting Required Lenders, any such matter shall be deemed to be conclusively approved by the Required Lenders; provided that, for the avoidance of doubt, the Borrower shall not be deemed to have waived any right it has under the Loan Documents irrespective of the results of such confirmation.
(f)
Defaulting Lenders. No Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder (and any amendment, waiver or consent which by its terms requires the consent of all Lenders, the Required Lenders, the Required Facility Lenders, Required Revolving Lenders, or each affected Lender may be effected with the consent of the applicable Lenders other than Defaulting Lenders), except that (1) the Commitment of any Defaulting Lender may not be
Exhibit A
increased or extended or the maturity of any of its Loans may not be extended, the rate of interest on any of its Loans may not be reduced and the principal amount of any of its Loans may not be forgiven, in each case, without the consent of such Defaulting Lender and (2) any waiver, amendment or modification requiring the consent of all Lenders or each affected Lender that by its terms materially and adversely affects any Defaulting Lender (if such Lender were not a Defaulting Lender) to a greater extent than other affected Lenders shall require the consent of such Defaulting Lender.
(g)
Disqualified Lenders. For purposes of this Section 11.01, all Loans and/or Commitments held by Disqualified Lenders shall be deemed not to be outstanding and shall be subject to the provisions set forth in Section 11.07(b)(v).
(h)
Affiliated Lenders and Affiliated Debt Funds. The exercise of consent rights by Affiliated Lenders or Affiliated Debt Funds shall be subject to the limitations set forth in Section 11.07(h) or (i), as applicable.
(i)
Net Short Lenders.
(i)
In connection with (x) the solicitation of any amendment, waiver or consent from the Lenders (or a sub-group thereof) or (y) determining whether Lenders constituting Required Lenders have (A) rejected any request requiring confirmation pursuant to Section 11.01(e) above or (B) directed the Administrative Agent or the Collateral Agent to deliver a notice of Default or Event of Default, exercise any right or remedy of the Administrative Agent or the Collateral Agent hereunder or otherwise act pursuant to the terms of the Loan Documents, each Lender (other than a regulated commercial bank (but not, for the avoidance of doubt, any of its non-regulated business or any of its Funds) or any Revolving Lender on the Closing Date), (1) in the case of clause (x) above to the extent the applicable amendment, waiver or consent is not approved by the requisite Lenders required hereunder, that is not a consenting Lender (as a result of either abstaining from the vote or affirmatively objecting the request) shall, within 3 Business Days after receiving notice in writing from the Borrower that the vote has not been approved, deliver to the Administrative Agent in writing a representation that, as of the date of such Net Short Representation, either (A) it is Net Short or (B) it cannot reasonably ascertain whether it is Net Short after making due inquiry but it agrees that its Loans and/or Commitments shall be treated as not being outstanding for the specific matter giving rise to such requirement of confirming Net Short status (a “Net Short Representation”), or either (I) shall make as of the date of such Net Long Representation or (II) shall otherwise be deemed to have made as of the date of such notice, in all other cases, a representation to the Borrower and the Administrative Agent that it is not Net Short (a “Net Long Representation”; such Net Long Representation or a Net Short Representation, a “Position Representation”) and (2) in the case of clause (y) above, that is a Lender objecting the confirmation in the case of clause (y)(A) above or a Lender making a direction to the Administrative Agent or the Collateral Agent in the case of clause (y)(B) above, shall, concurrently with the delivery of such objection or direction, as applicable, deliver to the Administrative Agent a Net Long Representation, which representation, in the case of a direction described in clause (y)(B) above, shall be deemed repeated at all times until the resulting Default or Event of Default is cured or otherwise ceases to exist or until the Loans and/or the Commitments are validly accelerated pursuant to Section 9.02. The Borrower and the Administrative Agent shall be entitled to rely on each such Position Representation. The Borrower and the Administrative Agent may establish such procedures as may be necessary or advisable to accomplish the purposes of the foregoing.
(ii)
In the case of clause (i)(x) above, the Loans and/or Commitments held by any Lender who has given a Net Short Representation shall be treated as not being outstanding for
Exhibit A
the purpose of determining the necessary consents from Lenders (or a subgroup thereof) in respect of the relevant matter. In the case of clause (i)(y) above, the Loans and/or Commitments held by any Lender that is Net Short shall be treated as not having rejected such request requiring confirmation or voted for such direction to the Administrative Agent or the Collateral Agent.
(iii)
Any Lender who (x) has made a Net Short Representation (other than a Net Short Representation described in clause (B) of the definition thereof) or (y) who was Net Short but who made and was deemed to have made a Net Long Representation at the time such representation was required to be made shall, in each case, be treated as a Disqualified Lender for all purposes of the Loan Documents.
(iv)
The Administrative Agent shall not be responsible or have any liability to the Borrower or any other party hereto for, or have any duty to ascertain, inquire into, monitor or enforce, compliance with the provisions of this Section 11.01(i) or the determination of whether a Lender is Net Short. The Borrower may, it is sole and absolute discretion exercisable at any time, waive any specific breach described in clause (iii) above by any specific Lender by delivering a written confirmation of such waiver to the Administrative Agent.
(j)
Consent Process. The Borrower and/or the Administrative Agent may solicit the consents required pursuant to the terms above from any or all of the Lenders with the applicable consent right or confirmations pursuant to Section 11.01(e) above; provided that no consent fee or other benefit under the Loan Documents accruing to solely to any consenting Lender shall be provided unless all Lenders have been given the opportunity to provide the applicable consent in exchange for such fee or other benefit. Any amendment or waiver to any Loan Document or any consent to departure by the Borrower or any Restricted Subsidiary from compliance with any provision in the Loan Document received pursuant to the provisions above or pursuant to any other provision of any Loan Document shall be evidenced in writing and signed by the Borrower (and/or any other Loan Party, as the case may be) and the Persons specified above or elsewhere in any Loan Document whose consent is required for such amendment, waiver or consent (or by the Administrative Agent with the written consent of such Persons). The confirmations pursuant to Section 11.01(e) above shall be deemed to be effective upon the expiration of the relevant deadline unless Lenders constituting Required Lenders have rejected such request. To the extent the Administrative Agent is not a party to any amendment, an executed copy thereof shall be promptly delivered to the Administrative Agent; provided that failure to deliver such copy to the Administrative Agent shall not impact the effectiveness of such amendment.
Section 11.02
Notices and Other Communications; Facsimile Copies.
(a)
General. Except in the case of notices and other communications expressly permitted to be given by telephone (and except as provided in subsection (b) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by fax or electronic mail as follows, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows:
(i)
if to Holdings, Intermediate Holdings, the Borrower, the Issuing Banks, the Collateral Agent or the Administrative Agent, to the address, fax number, electronic mail address or telephone number specified for such Person on Schedule 11.02; and
(ii)
if to any other Lender, to the address, fax number, electronic mail addresses or telephone number specified in its Administrative Questionnaire.
Exhibit A
Notices and other communications sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices and other communications sent by fax shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next Business Day for the recipient); and notices deposited in the United States mail with postage prepaid and properly addressed shall be deemed to have been given within 3 Business Days of such deposit; provided that no notice to any Agent shall be effective until received by such Agent. Notices and other communications delivered through electronic communications to the extent provided in subsection (b) below shall be effective as provided in such subsection (b).
(b)
Electronic Communication. Notices and other communications to any Agent, the Lenders, the Swing Line Lender and the Issuing Banks hereunder may be delivered or furnished by electronic communication (including e-mail and Internet or intranet websites, including the Platform) pursuant to procedures approved by the Administrative Agent, provided that the foregoing shall not apply to notices to any Agent, Lender, the Swing Line Lender or the Issuing Banks pursuant to Article II if such Person, as applicable, has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication. The Administrative Agent or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it, provided that approval of such procedures may be limited to particular notices or communications.
(c)
Receipt. Unless the Administrative Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement), provided that if such notice or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next Business Day for the recipient, and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause (i) of notification that such notice or communication is available and identifying the website address therefor.
(d)
Each Loan Party understands that the distribution of materials through an electronic medium is not necessarily secure and that there are confidentiality and other risks associated with such distribution and agrees and assumes the risks associated with such electronic distribution, except to the extent caused by the willful misconduct or gross negligence of the Administrative Agent, any Lender or the Swing Line Lender or any Issuing Bank as determined by a final, non-appealable judgment of a court of competent jurisdiction.
(e)
The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS OR IN THE PLATFORM. 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 BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any of its Agent-Related Persons or any Lead Arranger (collectively, the “Agent Parties”) have any liability to Holdings, the Borrower, any Lender, the Swing Line Lender, any Issuing Bank or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of the Borrower’s or the Administrative Agent’s transmission of Borrower
Exhibit A
Materials through the Internet, except to the extent that such losses, claims, damages, liabilities or expenses are determined by a court of competent jurisdiction by a final and non-appealable judgment to have resulted from the gross negligence or willful misconduct of such Agent Party; provided, however, that in no event shall any Agent Party have any liability to Holdings, the Borrower, any Lender, any Issuing Bank, the Swing Line Lender or any other Person for indirect, special, incidental, consequential or punitive damages (as opposed to direct or actual damages). Each Loan Party, each Lender, each Issuing Bank and each Agent agrees that the Administrative Agent may, but shall not be obligated to, store any Borrower Materials on the Platform in accordance with the Administrative Agent’s customary document retention procedures and policies.
(f)
Change of Address. Each of Holdings, the Borrower, the Administrative Agent, the Swing Line Lender and the Issuing Banks may change its address, fax or telephone number for notices and other communications hereunder by notice to the other parties hereto. Each other Lender may change its address, fax or telephone number for notices and other communications hereunder by notice to the Borrower, the Administrative Agent, the Collateral Agent, the Swing Line Lender and the Issuing Banks. In addition, each Lender agrees to notify the Administrative Agent from time to time to ensure that the Administrative Agent has on record (i) an effective address, contact name, telephone number, fax number and electronic mail address to which notices and other communications may be sent and (ii) accurate wire instructions for such Lender.
(g)
Reliance by the Administrative Agent, the Issuing Banks and the Lenders. The Administrative Agent, the Issuing Banks and the Lenders shall be entitled to rely and act upon any notices (including Committed Loan Notices, Swing Line Loan Requests and Issuance Notices) purportedly given by or on behalf of the Borrower even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof. All telephonic notices to and other telephonic communications with the Administrative Agent may be recorded by the Administrative Agent, and each of the parties hereto hereby consents to such recording. The Borrower shall indemnify the Administrative Agent, the Issuing Banks and the Lenders and each Agent-Related Person from all losses, costs, expenses and liabilities resulting from the reliance by such Person on each notice purportedly given by or on behalf of the Borrower in the absence of gross negligence, bad faith or willful misconduct as determined in a final and non-appealable judgment by a court of competent jurisdiction.
(h)
Private-Side Information Contacts. Each Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at all times have selected the “Private-Side Information” or similar designation on the content declaration screen of the Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender’s compliance procedures and applicable Law, including United States federal and state securities Laws, to make reference to information that is not made available through the “Public-Side Information” portion of the Platform and that may contain Private-Side Information with respect to Holdings, its Subsidiaries or their respective securities for purposes of United States federal or state securities laws. In the event that any Public Lender has determined for itself to not access any information disclosed through the Platform or otherwise, such Public Lender acknowledges that (i) other Lenders may have availed themselves of such information and (ii) neither the Borrower nor the Administrative Agent has (A) any responsibility for such Public Lender’s decision to limit the scope of the information it has obtained in connection with this Agreement and the other Loan Documents and (B) any duty to disclose such information to such Public Lender or to use such information on behalf of such Public Lender, and shall not be liable for the failure to so disclose or use, such information.
Section 11.03
No Waiver; Cumulative Remedies. No forbearance, failure or delay by any Lender or any Agent to exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder or under any other Loan Document shall impair such right, remedy, power or
Exhibit A
privilege or 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, and provided under each other Loan Document, are cumulative and independent of any rights, remedies, powers and privileges provided by Law. No prior practice of the Borrower and the other Loan Parties, prior exercise of discretion or prior interpretation of any provisions under the Loan Documents, including any prior joinder of any Excluded Subsidiaries as Subsidiary Guarantors, any prior treatment of certain items in any certificate or report required hereunder, any prior request for written evidence of releases of Liens or Guaranties, any prior request for delivery of any acknowledgment by the Administrative Agent or any prior request for lender confirmation pursuant to Section 11.01(e) shall preclude any different practice, exercise, interpretation, treatment or request by the Borrower and the other Loan Parties in all future instances.
Section 11.04
Attorney Costs and Expenses. The Borrower agrees (a) if the Closing Date occurs, to pay or reimburse the Administrative Agent, the Collateral Agent, the Lead Arrangers, the Supplemental Administrative Agents and the Issuing Banks for all reasonable and documented in reasonable detail out-of-pocket expenses incurred on or after the Closing Date in connection with the preparation, execution, delivery and administration of this Agreement and the other Loan Documents and any amendment, waiver, consent or other modification of the provisions hereof and thereof (whether or not the transactions contemplated thereby are consummated), limited, in the case of legal fees and expenses, to the Attorney Costs of one primary counsel and, if reasonably necessary, one local counsel in each relevant jurisdiction material to the interests of the Lenders taken as a whole (which may be a single local counsel acting in multiple material jurisdictions), and (b) to pay or reimburse the Administrative Agent, the Collateral Agent, the Lead Arrangers, the Supplemental Administrative Agents, the Issuing Banks, the Swing Line Lender and the Lenders for all reasonable and documented in reasonable detail out-of-pocket costs and expenses incurred in connection with the enforcement of any rights or remedies under this Agreement or the other Loan Documents (including all such costs and expenses incurred during any legal proceeding, including any proceeding under any Debtor Relief Law, but limited, in the case of legal fees and expenses, to the Attorney Costs of one counsel to the Administrative Agent, the Collateral Agent, the Lead Arrangers, the Supplemental Administrative Agents, the Swing Line Lender, the Issuing Banks and the Lenders taken as a whole (and, if reasonably necessary, one local counsel in any relevant material jurisdiction (which may be a single local counsel acting in multiple material jurisdictions))). The agreements in this Section 11.04 shall survive the termination of the Aggregate Commitments and repayment of all other Obligations. All amounts due under this Section 11.04 shall be paid within 30 days following receipt by the Borrower of an invoice relating thereto setting forth such expenses in reasonable detail. If any Loan Party fails to pay when due any costs, expenses or other amounts payable by it hereunder or under any Loan Document, such amount may be paid on behalf of such Loan Party by the Administrative Agent in its sole and absolute discretion.
Section 11.05
Indemnification by the Borrower. The Borrower shall indemnify and hold harmless the Administrative Agent, any Supplemental Administrative Agent, the Collateral Agent, the Issuing Banks, each Lender, each Lead Arranger, each Joint Bookrunner and their respective Affiliates and each such Person’s directors, officers, employees, agents, partners, shareholders, trustees, controlling persons, and other representatives (collectively, the “Indemnitees”) from and against any and all losses, claims, damages, liabilities and expenses (including Attorney Costs) to which any Indemnitee may become subject, arising out of, resulting from or in connection with (but limited, in the case of legal fees and expenses, to the Attorney Costs of one counsel to all Indemnitees taken as a whole and, if reasonably necessary, a single local counsel for all Indemnitees taken as a whole in each relevant jurisdiction that is material to the interest of such Indemnitees (which may be a single local counsel acting in multiple material jurisdictions), and solely in the case of an actual or perceived conflict of interest between Indemnitees (where the Indemnitee affected by such actual or perceived conflict of interest informs the Borrower in writing of such actual or perceived conflict of interest), one additional counsel in each relevant jurisdiction
Exhibit A
to each group of affected Indemnitees similarly situated taken as a whole),
(a)
the execution, delivery, enforcement, performance or administration of any Loan Document or any other agreement, letter or instrument delivered in connection with the transactions contemplated thereby or the consummation of the transactions contemplated thereby (including the reliance in good faith by any Indemnitee on any notice purportedly given by or on behalf of the Borrower or any Loan Party),
(b)
the Transactions,
(c)
any Commitment, Loan, Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by any Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit),
(d)
any actual or alleged release of, or exposure to, any Hazardous Materials on or from any property currently or formerly owned or operated by the Borrower or any other Loan Party, or any Environmental Claim or Environmental Liability arising out of the activities or operations of or otherwise related to the Borrower or any other Loan Party, or
(e)
any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory (including any investigation of, preparation for, or defense of any pending or threatened claim, investigation, litigation or proceeding) and regardless of whether any Indemnitee is a party thereto (all the foregoing, collectively, the “Indemnified Liabilities”);
provided that such indemnity shall not, as to any Indemnitee, be available to the extent such losses, claims, damages, liabilities and expenses resulted from (i) as determined by a court of competent jurisdiction in a final-non-appealable judgment, (A) the gross negligence, bad faith or willful misconduct of such Indemnitee or of any Related Indemnified Person of such Indemnitee, or (B) a material breach of any obligations of such Indemnitee or any Related Indemnified Person of such Indemnitee under any Loan Document and (ii) any dispute solely among Indemnitees or of any Related Indemnified Person of such Indemnitee other than any claims against an Indemnitee in its capacity or in fulfilling its role as the Administrative Agent, the Collateral Agent, an Issuing Bank, a Swing Line Lender or a Lead Arranger (or other Agent role) under the Facility and other than any claims arising out of any act or omission of the Borrower or any of its Affiliates. To the extent that the undertakings to indemnify and hold harmless set forth in this Section 11.05 may be unenforceable in whole or in part because they are violative of any applicable law or public policy, the Borrower shall contribute the maximum portion that they are permitted to pay and satisfy under applicable law to the payment and satisfaction of all Indemnified Liabilities incurred by the Indemnitees or any of them. No Indemnitee shall be liable for any damages arising from the use by others of any information or other materials obtained through electronic telecommunications or other information transmission systems, except to the extent resulting from the willful misconduct, bad faith or gross negligence of such Indemnitee or any Related Indemnified Person (as determined by a final and non-appealable judgment of a court of competent jurisdiction), nor shall any Indemnitee or any Loan Party have any liability for any special, punitive, indirect or consequential damages relating to this Agreement or any other Loan Document or arising out of its activities in connection herewith or therewith (whether before or after the Closing Date); provided, this sentence shall not limit the Borrower’s indemnification or reimbursement obligations set forth herein to the extent such special, indirect, punitive or consequential damages are included in any third party claim in connection with which such Indemnitee is entitled to indemnification hereunder. In the case of an investigation, litigation or other proceeding to which the indemnity in this Section 11.05 applies, such indemnity shall be effective whether or not such investigation,
Exhibit A
litigation or proceeding is brought by any Loan Party, its directors, stockholders or creditors or an Indemnitee or any other Person, whether or not any Indemnitee is otherwise a party thereto and whether or not any of the transactions contemplated hereunder or under any of the other Loan Documents is consummated. All amounts due under this Section 11.05 (after the determination of a court of competent jurisdiction, if required pursuant to the terms of this Section 11.05) shall be paid within 20 Business Days after written demand therefor. Notwithstanding the foregoing, each Indemnitee shall be obligated to refund and return promptly any and all amounts paid by the Borrower or any of its affiliates under this Section 11.05 to such Indemnitee for any such losses, claims, damages, liabilities or expenses to the extent such Indemnitee is not entitled to payment of such amounts in accordance with the terms hereof as finally determined by a final, non-appealable judgment of a court of competent jurisdiction, and, to the extent not a party hereto, the agreement of an Indemnitee to this provision is a condition to the indemnity provided herein. The agreements in this Section 11.05 shall survive the resignation of the Administrative Agent, the Collateral Agent, the Swing Line Lender or any Issuing Bank, replacement of any Lender, the termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all the other Obligations. This Section 11.05 shall not apply to Taxes, except it shall apply to any taxes that represent losses, claims, damages, etc. arising from a non-tax claim. The Borrower will not be liable for any settlement of any action effected without its prior written consent (such consent not to be unreasonably withheld or delayed (it being agreed that consent withheld for failure of any of the conditions in the immediately succeeding sentence to be true is reasonable)), but, if settled with the Borrower’s written consent or if there is a final judgment in any such actions, the Borrower agrees to indemnify and hold harmless each Indemnitee from and against any and all losses, claims, damages, liabilities and expenses by reason of such settlement or judgment in accordance with this Section 11.05. The Borrower will not, without the prior written consent of an Indemnitee (such consent not to be unreasonably withheld or delayed (it being agreed that consent withheld for failure of any of the conditions in the immediately succeeding clauses (i) and (ii) to be true is reasonable)), effect any settlement of any action in respect of which indemnity could have been sought hereunder by such Indemnitee unless such settlement (i) includes an unconditional release of such Indemnitee from all liability on claims that are the subject matter of such actions and (ii) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of such Indemnitee.
Section 11.06
Marshaling; Payments Set Aside. None of the Administrative Agent, any Supplemental Administrative Agent, any Lender, the Collateral Agent or any Issuing Bank shall be under any obligation to marshal any assets in favor of the Loan Parties or any other Person or against or in payment of any or all of the Obligations. To the extent that any payment by or on behalf of the Borrower is made to any Agent, any Lender or any Issuing Bank (or to the Administrative Agent or any Supplemental Administrative Agent, on behalf of any Lender or any Issuing Bank), or any Agent or any Lender enforces any security interests or exercises its right of setoff, and such payments or the proceeds of such enforcement or setoff or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside and/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 under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied and all Liens, rights and remedies therefor or related thereto, shall be revived and continued in full force and effect as if such payment or payments had not been made or such enforcement or setoff had not occurred and (b) each Lender and each Issuing Bank severally agrees to pay to the Administrative Agent upon demand its applicable share (without duplication) of any amount so recovered from or repaid by the Administrative 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 Federal Funds Rate from time to time in effect.
Section 11.07
Successors and Assigns.
Exhibit A
(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, except that none of Holdings, Intermediate Holdings or the Borrower may, except as permitted by Section 7.04 or the replacement of Holdings with a successor Holdings pursuant to the definition of “Holdings”, assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Administrative Agent and each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except,
(i)
to an assignee in accordance with the provisions of subsection (b) of this Section,
(ii)
by way of participation in accordance with the provisions of subsection (d) of this Section,
(iii)
by way of pledge or assignment of a security interest subject to the restrictions of subsection (f) of this Section, or
(iv)
to an SPC in accordance with the provisions of subsection (g) of this Section (and any other attempted assignment or transfer by any party hereto shall be null and void).
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, Participants to the extent provided in subsection (d) of this Section and, to the extent expressly contemplated hereby, the Agent-Related Persons of each of the Administrative Agent, the Issuing Banks and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement.
(b)
Assignments by Lenders. 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 Commitment and Loans (including for purposes of this Section 11.07(b), participations in Letters of Credit and in Swing Line Loans) at the time owing to it; provided that any such assignment shall be subject to the following conditions:
(i)
Minimum Amounts.
(A)
in the case of an assignment of the entire remaining amount of the assigning Lender’s Term Loans of any Class at the time held by it, in the case of an assignment of the entire remaining amount of the assigning Lender’s Revolving Commitment and Revolving Loans at the time held by it or in the case of an assignment by a Lender to an Affiliate of such Lender or an Approved Fund of such Lender, no minimum amount need be assigned; and
(B)
with respect to any assignment not described in subsection (b)(i)(A) of this Section, such assignment shall be in an aggregate principal amount of not less than (1) with respect to the assigning Lender’s Term Loans, $1,000,000 and (2) with respect to the assigning Lender’s Revolving Commitment and Revolving Loans, $5,000,000, unless in each case of clauses (1) and (2) each of the Administrative Agent, and so long as no Specified Event of Default has occurred and is continuing at the time of such assignment, the Borrower otherwise consents (in each case, such consent not to be unreasonably withheld or delayed).
(ii)
Proportionate Amounts. Each partial assignment of Term Loans shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under
Exhibit A
this Agreement with respect to the Term Loans assigned, and each partial assignment of Revolving Commitments and/or Revolving Loans shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement with respect to the Revolving Commitments and/or Revolving Loans being assigned; provided that this clause (ii) shall not (x) apply to the Swing Line Lender’s rights and obligations in respect of Swing Line Loans or (y) prohibit any Lender from assigning all or a portion of its rights and obligations among separate Facilities on a non-pro rata basis.
(iii)
Required Consents. With respect to each such assignment:
(A)
the consent of the Borrower (such consent (x) with respect to the Term Loans, not to be unreasonably withheld or delayed; provided that it shall not be unreasonable for the Borrower to withhold consent for any assignment of Term Loans with respect to any person (including any person that manages or advises funds) that invests (directly or indirectly, including through Affiliates) in distressed debt, “special situations” or “opportunities” or that is not a Disqualified Lender but is known by the Borrower to be an Affiliate of a Disqualified Lender regardless of whether such person is identifiable as an Affiliate of a Disqualified Lender on the basis of such Affiliate’s name or otherwise and (y) with respect to the Revolving Commitments, in its sole and absolute discretion) shall be required unless (1) a Specified Event of Default has occurred and is continuing at the time of such assignment or (2) such assignment is made (a) with respect to Term Loans, to a Lender, an Affiliate of a Lender or an Approved Fund and (b) with respect to Revolving Commitments and Revolving Loans, to a Revolving Lender, an Affiliate of the assigning Revolving Lender or an Approved Fund (in the case of such Affiliate or Approved Fund, unless such Person does not have similar creditworthiness as the assigning Revolving Lender); provided that the Borrower shall be deemed to have consented to any assignment of Term Loans if the Borrower does not respond within 10 Business Days of a written request for its consent with respect to such assignment (for the avoidance of doubt, such deemed consent shall not in any event permit the assignment to a Disqualified Lender or natural person); provided, further, that the Borrower shall have the sole and absolute discretion to decline any assignment if the assignee is known to the Borrower as a Disqualified Lender or an Affiliate of a Disqualified Lender (other than any Affiliates constituting bona fide debt fund affiliates referred to in the parenthetical in clause (c) of the definition of Disqualified Lender), whether or not such assignee is identifiable by name;
(B)
the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) shall be required if such assignment is to a Person that is not a Lender, an Affiliate of such Lender or an Approved Fund; provided, however, that the consent of the Administrative Agent shall not be required for any assignment to an Affiliated Lender or a Person that upon effectiveness of an assignment would be an Affiliated Lender, except for the separate consent rights of the Administrative Agent pursuant to clause (h)(v) of this Section 11.07;
(C)
with respect to assignments of Revolving Loans and/or Revolving Commitments, the consent of each Issuing Bank (such consent not to be unreasonably withheld, conditioned or delayed) shall be required; and
(D)
with respect to assignments of Revolving Loans and/or Revolving Commitments, the consent of the Swing Line Lender (such consent not to be unreasonably withheld or delayed) shall be required.
Exhibit A
(iv)
Assignment and Assumption. The parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee of $3,500; provided that the Administrative Agent may, in its sole and absolute discretion, elect to waive such processing and recordation fee in the case of any assignment. Any assignee, if it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire and any tax forms required under Section 3.01(b), (c), (d) and (e), as applicable. Upon receipt of the processing and recordation fee and any written consent to assignment required by Section 11.07(b)(iii), the Administrative Agent shall promptly accept such Assignment and Assumption and record the information contained therein in the Register.
(v)
No Assignments to Certain Persons. No such assignment shall be made,
(A)
to Holdings, the Borrower or any of the Borrower’s Subsidiaries except as permitted under Section 2.07(a)(iv) or under subsection (l) below,
(B)
subject to subsection (h) below, any of the Borrower’s Affiliates (other than Holdings or any of the Borrower’s Subsidiaries and other than Affiliated Debt Funds),
(C)
to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of the foregoing persons described in this clause,
(D)
to a natural person, or
(E)
to a Disqualified Lender.
Notwithstanding anything to the contrary contained herein, if any Loans or Commitments are assigned or participated (x) to a Disqualified Lender, (y) without complying with the Borrower consent or notice requirements of this Section 11.07 or (z) to an Affiliate of a Disqualified Lender, whether or not such Affiliate is identifiable based on its name, then: (a) the Borrower may (i) terminate any Commitment of such Person and prepay any applicable outstanding Loans at a price equal to the lesser of (x) the current trading price of the Loans, (y) par and (z) the amount such Person paid to acquire such Loans or Commitments, in each case, without premium, penalty, prepayment fee or breakage, and/or (ii) require such person to assign its rights and obligations to one or more Eligible Assignees at the price indicated above (which assignment shall not be subject to any processing and recordation fee) and if such person does not execute and deliver to the Administrative Agent a duly executed Assignment and Assumption reflecting such assignment within 3 Business Days of the date on which the assignee Lender executes and delivers such Assignment and Assumption to such person, then such person shall be deemed to have executed and delivered such Assignment and Assumption without any action on its part, (b) no such Person shall receive any information or reporting provided by the Borrower, the Administrative Agent or any Lender, (c) for purposes of voting, any Loans or Commitments held by such person shall be deemed not to be outstanding, and such person shall have no voting or consent rights with respect to “Required Lenders” or Class votes or consents, (d) for purposes of any matter requiring the vote or consent of each Lender affected by any amendment or waiver, such person shall be deemed to have voted or consented to approve such amendment or waiver if a majority of the affected Class (giving effect to clause (c) above) so approves, and (e) such person shall not be entitled to any expense reimbursement or indemnification rights under any Loan Documents (including Sections 11.04 and 11.05) and the Borrower expressly reserves all rights against such person under contract, tort or any other theory and shall be treated in all other respects as a Defaulting Lender; it being understood and agreed that the foregoing provisions shall not apply to any assignee of a
Exhibit A
Disqualified Lender that becomes a Lender so long as such assignee is not a Disqualified Lender or an Affiliate thereof.
(vi)
Defaulting Lenders Assignments. In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the Borrower and the Administrative Agent, the applicable Pro Rata Share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (A) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative Agent, the Issuing Banks, the Swing Line Lender and each other Lender hereunder (and interest accrued thereon), and (B) acquire (and fund as appropriate) its full Pro Rata Share of all Loans and participations in Letters of Credit and Swing Line Loans. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable Law without compliance with the provisions of this paragraph, then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs.
Subject to acceptance and recording thereof by the Administrative Agent pursuant to clause (c) of this Section (and, in the case of an Affiliated Lender or a Person that, after giving effect to such assignment, would become an Affiliated Lender, subject to the requirements of clause (h) of this Section), from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement (except in the case of an assignment to or purchase by Holdings, the Borrower or any of Holdings’ Subsidiaries) and, to the extent of the interest assigned by such Assignment and Assumption and as permitted by this Section 11.07, 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 3.01, 3.04, 3.05, 11.04 and 11.05 with respect to facts and circumstances occurring prior to the effective date of such assignment); provided that anything contained in any of the Loan Documents to the contrary notwithstanding, each Issuing Bank shall continue to have all rights and obligations with respect to any Letters of Credit issued by it until the cancellation or expiration of such Letters of Credit with no pending drawing and the reimbursement of any amounts drawn thereunder. Upon request, and the surrender by the assigning Lender of its applicable Notes, the Borrower (at its expense) shall execute and deliver a Note to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection 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 subsection (d) of this Section.
(c)
Register. The Administrative Agent, acting solely for this purpose as a non-fiduciary agent of the Borrower, shall maintain at the Administrative Agent’s Office 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 Commitments of, and principal amounts and stated interest of the Loans and Letter of Credit Obligations (specifying the Reimbursement Obligations), Letter of Credit Borrowings and other amounts due under Section 2.04 owing to each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive absent manifest error, and the Borrower, the Agents and the
Exhibit A
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 Affiliates of the Administrative Agent, the Borrower, the Issuing Banks, the Swing Line Lender or any other Lender (but only, in the case of a Lender, with respect to any entry relating to such Lender’s Commitments, Loans, Letter of Credit Obligations and other Obligations) at any reasonable time and from time to time upon reasonable prior notice. This Section 11.07(c) and Section 2.13 shall be construed so that all Loans are at all times maintained in “registered form” within the meaning of Sections 163(f), 871(h)(2) and 881(c)(2) of the Code and any related Treasury regulations (or any other relevant or successor provisions of the Code or of such Treasury regulations).
(d)
Participations. Any Lender may at any time, (x) with respect to the Term Loans, without the consent of, or notice to, the Borrower, the Administrative Agent, the Swing Line Lender, the Issuing Banks or any other Person and (y) with respect to the Revolving Commitments, subject to prior written notice, and disclosure of the identity thereof, to the Borrower, sell participations to any Person (other than in each case of clauses (x) and (y), a natural person or a Disqualified Lender) (each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans (including such Lender’s participations in Letters of Credit and/or Swing Line Loans) owing to it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrower, the Agents and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and the other Loan Documents and to approve any amendment, modification or waiver of any provision of this Agreement or any other Loan Document; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, waiver or other modification described in Section 11.01(b) (other than clause (iv)) that directly and adversely affects such Participant. Subject to subsection (e) of this Section, the Borrower agrees that each Participant shall be entitled to the benefits of Sections 3.01 (subject to the requirements of Section 3.01, as applicable (it being understood that the documentation required under such Sections shall be delivered to the participating Lender)), 3.04 and 3.05 (through the applicable Lender) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to subsection (b) of this Section. To the extent permitted by applicable Law, each Participant also shall be entitled to the benefits of Section 11.09 as though it were a Lender; provided that such Participant agrees to be subject to Section 2.15 as though it were a Lender.
(e)
Limitations upon Participant Rights. A Participant shall not be entitled to receive any greater payment under Section 3.01, 3.04 or 3.05 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, such consent not to be unreasonably withheld or delayed. Each Lender that sells a participation or has a loan funded by an SPC shall (acting solely for this purpose as a non-fiduciary agent of the Borrower) maintain a register complying with the requirements of Sections 163(f), 871(h) and 881(c)(2) of the Code and the Treasury regulations (or any other relevant or successor provisions of the Code or of such Treasury regulations) issued thereunder relating to the exemption from withholding for portfolio interest on which is entered the name and address of each Participant or SPC and the principal amounts (and stated interest) of each Participant’s or SPC’s interest in the Loans or other obligations under this Agreement (the “Participant Register”). For the avoidance of doubt, the Administrative Agent shall not have any duty to access or maintain any Lender’s Participant Register. A Lender shall not be obligated to disclose the Participant Register to any Person except to the extent such disclosure is necessary to establish that (i) any Loan or other obligation is in registered form under the Code and Treasury regulations, including, without limitation United States Treasury Regulations Section 5f.103-1(c) and United States Proposed Treasury Regulations Section 1.163-5(b) (or any amended
Exhibit A
or successor version) or (ii) the participations are not made to a natural person or a Disqualified Lender. 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.
(f)
Liens on Loans. Any Lender may, at any time without the consent of the Borrower or the Administrative Agent, pledge or assign a security interest in all or any portion of its rights under this Agreement (including under its Notes, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank or any other central bank; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.
(g)
Special Purpose Funding Vehicles. Notwithstanding anything to the contrary contained herein, any Lender (a “Granting Lender”) may grant to a special purpose funding vehicle identified as such in writing from time to time by the Granting Lender to the Administrative Agent and the Borrower (an “SPC”) the option to provide all or any part of any Loan that such Granting Lender would otherwise be obligated to make pursuant to this Agreement; provided that (i) nothing herein shall constitute a commitment by any SPC to fund any Loan, (ii) if an SPC elects not to exercise such option or otherwise fails to make all or any part of such Loan, the Granting Lender shall be obligated to make such Loan pursuant to the terms hereof and (iii) any grant to an SPC shall be recorded in the Participant Register. Each party hereto hereby agrees that (A) neither the grant to any SPC nor the exercise by any SPC of such option shall increase the costs or expenses or otherwise increase or change the obligations of the Borrower under this Agreement (including its obligations under Section 3.01, 3.04 and 3.05), (B) no SPC shall be liable for any indemnity or similar payment obligation under this Agreement for which a Lender would be liable, and (C) the Granting Lender shall for all purposes, including the approval of any amendment, waiver or other modification of any provision of any Loan Document, remain the lender of record hereunder. The making of a Loan by an SPC hereunder shall utilize the Commitment of the Granting Lender to the same extent, and as if, such Loan were made by such Granting Lender. 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 debt of any SPC, it will not institute against, or join any other Person in instituting against, such SPC any bankruptcy, reorganization, arrangement, insolvency, or liquidation proceeding under the laws of the United States or any State thereof. Notwithstanding anything to the contrary contained herein, any SPC may (1) with notice to, but without prior consent of the Borrower and the Administrative Agent and with the payment of a processing fee of $3,500 (which processing fee may be waived by the Administrative Agent in its sole and absolute discretion), assign all or any portion of its right to receive payment with respect to any Loan to the Granting Lender and (2) disclose on a confidential basis any non-public information relating to its funding of Loans to any rating agency, commercial paper dealer or provider of any surety or Guarantee or credit or liquidity enhancement to such SPC.
(h)
Affiliated Lenders. Any Lender may, at any time, assign all or a portion of its rights and obligations with respect to Loans and Commitments under this Agreement to a Person who is or will become, after such assignment, an Affiliated Lender through (i) Dutch auctions open to all Lenders in accordance with the procedures set forth on Exhibit M or (ii) open market purchase on a non-pro rata basis, in each case subject to the following provisions:
(i)
such Affiliated Lenders (A) will not receive information provided solely to Lenders by the Administrative Agent or any Lender except to the extent such materials are made available to the Borrower and will not be permitted to attend or participate in conference calls or meetings attended solely by the Lenders and the Administrative Agent, other than the right to receive notices of prepayments and other administrative notices in respect of its Term Loans or
Exhibit A
Commitments required to be delivered to Lenders pursuant to Article II, (B) will not receive the advice of counsel provided solely to the Administrative Agent or the Lenders, and (C) may not challenge the attorney-client privilege between the Administrative Agent and counsel to the Administrative Agent or between the Lenders and counsel to the Lenders;
(ii)
the Assignment and Assumption will require the Affiliated Lender to clearly identify itself as an Affiliated Lender and shall contain customary “big boy” representations but there shall be no requirement on the Affiliated Lender to make a representation that it has no material non-public information with respect to the Borrower and its Restricted Subsidiaries;
(iii)
(A) the aggregate principal amount of Term Loans held by all Affiliated Lenders shall not exceed 30% of the aggregate outstanding principal amount of all Term Loans at the time of purchase or assignment (such percentage, the “Affiliated Lender Term Loan Cap”), (B) unless otherwise agreed to in writing by the Required Facility Lenders, regardless of whether consented to by the Administrative Agent or otherwise, no assignment which would result in Affiliated Lenders holding Term Loans with an aggregate principal amount in excess of the Affiliated Lender Term Loan Cap, shall in either case be effective with respect to such excess amount of the Term Loans; provided that each of the parties hereto agrees and acknowledges that the Administrative Agent shall not be liable for any losses, damages, penalties, claims, demands, actions, judgments, suits, costs, expenses and disbursements of any kind or nature whatsoever incurred or suffered by any Person in connection with any compliance or non-compliance with this clause (h)(iii) or any purported assignment exceeding the Affiliated Lender Term Loan Cap limitation or for any assignment being deemed null and void hereunder and (C) in the event of an acquisition pursuant to the last sentence of this clause (h) which would result in the Affiliated Lender Term Loan Cap being exceeded such assignee Lender shall be required immediately (and in any event within 5 Business Days) to assign Loans then owed by such Lender to an Eligible Assignee that is not an Affiliated Lender such that immediately after giving effect to such assignment, the Affiliated Lender Term Loan Cap is not exceeded;
(iv)
the aggregate principal amount of Revolving Commitments held by all Affiliated Lenders shall not exceed 30% of the aggregate outstanding principal amount of all Revolving Commitments at the time of purchase or assignment (such percentage, the “Affiliated Lender Revolving Cap”); and
(v)
as a condition to each assignment pursuant to this clause (h), (A) the Administrative Agent shall have been provided a notice in the form of Exhibit D-2 to this Agreement in connection with each assignment to an Affiliated Lender or a Person that upon effectiveness of such assignment would constitute an Affiliated Lender, and (without limitation of the provisions of clause (iii) above) shall be under no obligation to record such assignment in the Register until 3 Business Days after receipt of such notice and (B) the Administrative Agent shall have consented to such assignment (which consent shall not be withheld unless the Administrative Agent reasonably believes that such assignment would violate clause (h)(iii) of this Section 11.07).
(i)
Voting Limitations. Notwithstanding anything in Section 11.01 or the definition of “Required Lenders” to the contrary:
(i)
for purposes of determining whether the Required Lenders have (A) consented (or not consented) to any amendment, modification, waiver, consent or other action with respect to any of the terms of any Loan Document or any departure by any Loan Party therefrom, or subject to Section 11.07(j), any plan of reorganization pursuant to the Bankruptcy Code, (B) otherwise
Exhibit A
acted on any matter related to any Loan Document, or (C) directed or required the Administrative Agent or any Lender to undertake any action (or refrain from taking any action) with respect to or under any Loan Document, in each case, that does not require the consent of a specific Lender, each Lender or each affected Lender, or does not affect such Affiliated Lender in a disproportionately adverse manner as compared to other Lenders holding similar obligations, Affiliated Lenders will be deemed to have voted in the same proportion as non-affiliated Lenders voting on such matters; and
(ii)
Affiliated Debt Funds shall not be subject to the limitation set forth above; provided that notwithstanding anything in Section 11.01 or the definition of “Required Lenders” to the contrary, for purposes of determining whether the Required Lenders have (i) consented (or not consented) to any amendment, modification, waiver, consent or other action with respect to any of the terms of any Loan Document or any departure by any Loan Party therefrom, (ii) otherwise acted on any matter related to any Loan Document or (iii) directed or required the Administrative Agent or any Lender to undertake any action (or refrain from taking any action) with respect to or under any Loan Document, all Term Loans, Revolving Commitments and Revolving Loans held by Affiliated Debt Funds, in the aggregate, may not account for more than 49.9% of the Term Loans, Revolving Commitments and Revolving Loans of Lenders included in determining whether the Required Lenders have consented to any action pursuant to Section 11.01.
(j)
Insolvency Proceedings. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, each Affiliated Lender hereby agrees that, if a proceeding under any Debtor Relief Law shall be commenced by or against the Borrower or any Loan Party at a time when such Lender is an Affiliated Lender, such Affiliated Lender irrevocably authorizes and empowers the Administrative Agent to vote on behalf of such Affiliated Lender with respect to the Loans and/or Commitments held by such Affiliated Lender in any manner in the Administrative Agent’s sole and absolute discretion, unless the Administrative Agent instructs such Affiliated Lender to vote, in which case such Affiliated Lender shall vote with respect to the Loans held by it as the Administrative Agent directs; provided that such Affiliated Lender shall be entitled to vote in accordance with its sole and absolute discretion (and not in accordance with the direction of the Administrative Agent) in connection with any plan of reorganization to the extent any such plan of reorganization proposes to treat any Obligations held by such Affiliated Lender in a manner that is less favorable in any respect to such Affiliated Lender than the proposed treatment of similar Obligations held by Lenders that are not Affiliates of the Borrower.
(k)
[Reserved]
(l)
Assignments to Borrower, etc.
(i)
Any Lender may, so long as no Event of Default has occurred and is continuing or would result therefrom, assign all or a portion of its rights and obligations with respect to the Term Loans and/or the Term Loan Commitments under this Agreement to Holdings, the Borrower or any of its Subsidiaries through (i) Dutch auctions open to all Lenders in accordance with the procedures set forth on Exhibit M or (ii) open market purchase on a non-pro rata basis, in each case subject to the following limitations, but in each case, without the consent of the Administrative Agent:
(A)
if the assignee is Holdings or a Subsidiary of the Borrower, upon such assignment, transfer or contribution, the applicable assignee shall automatically be deemed to have contributed or transferred the principal amount of such Term Loans and the Term Loan Commitments, plus all accrued and unpaid interest thereon, to the Borrower; and
Exhibit A
(B)
if the assignee is the Borrower (including through contribution or transfers set forth in clause (A) above), (1) the principal amount of such Term Loans, along with all accrued and unpaid interest thereon, so contributed, assigned or transferred to the Borrower shall be deemed automatically cancelled and extinguished on the date of such contribution, assignment or transfer, (2) all Term Loan Commitments shall be automatically terminated and (3) the Borrower shall promptly provide notice to the Administrative Agent of such contribution, assignment or transfer of such Term Loans and Term Loan Commitments, and the Administrative Agent, upon receipt of such notice, shall reflect the cancellation of the applicable Term Loans and the termination of the Term Loan Commitments in the Register.
(ii)
Any Affiliated Lender may, in its discretion (but is not required to), assign all or a portion of its rights and obligations with respect to the Term Loans and the Term Loan Commitments under this Agreement to Holdings, the Borrower or any of its Subsidiaries without the consent of the Administrative Agent (regardless of whether any Default or Event of Default has occurred and is continuing or would result therefrom), on a non-pro rata basis, for purposes of cancelling such Term Loans or Term Loan Commitments, which may include contribution (with the consent of the Borrower) to the Borrower (whether through any of its direct or indirect parent entities or otherwise) in exchange for (A) debt on a dollar for dollar basis or (B) Equity Interests of the Borrower (or any of its direct or indirect parent entities) that are otherwise permitted to be incurred or issued by the Borrower (or such direct or indirect parent entity) at such time.
Section 11.08
Confidentiality. Each of the Administrative Agent, any Supplemental Administrative Agent, the Collateral Agent, the Lead Arrangers, the Issuing Banks and the Lenders agrees to maintain the confidentiality of the Information in accordance with its customary procedures (as set forth below), except that Information may be disclosed,
(a)
to its Affiliates and to its and its Affiliates’ respective partners, directors, officers, employees, agents, trustees, advisors and representatives who need to know such information (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential and in no event shall such disclosure be made to any Disqualified Lender pursuant to this clause (a)),
(b)
to the extent requested by any governmental regulatory authority purporting to have jurisdiction over it (including the Federal Reserve Bank or any other central bank or any self-regulatory authority, such as the National Association of Insurance Commissioners or its Affiliates),
(c)
to the extent required by applicable laws or regulations or by any subpoena or similar legal process, provided that the Administrative Agent, the Collateral Agent, such Lead Arranger or such Lender or such Issuing Bank, as applicable, agrees that it will notify the Borrower as soon as practicable in the event of any such disclosure by such Person (other than at the request of a regulatory authority) unless such notification is prohibited by law, rule or regulation,
(d)
to any other party hereto (it being understood that in no event shall such disclosure be made to any Disqualified Lender pursuant to this clause (d) but only to the extent that a list of such Disqualified Lenders is available to all Lenders),
(e)
in connection with the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder,
Exhibit A
(f)
subject to an agreement containing provisions at least as restrictive as those of this Section 11.08 (it being understood that in no event shall such disclosure be made to any Disqualified Lender pursuant to this clause (f)), to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement or any Eligible Assignee invited to be an Additional Lender (other than any Disqualified Lender that is required to assign its Loans and Commitments pursuant to Section 11.07(b)(v)) or (ii) any actual or prospective direct or indirect counterparty (or its advisors) to any swap or derivative transaction with such Lender relating to the Borrower or any of its Subsidiaries or any of their respective obligations,
(g)
with the prior written consent of the Borrower,
(h)
to any rating agency when required by it (it being understood that, prior to any such disclosure, such rating agency shall undertake to preserve the confidentiality of any Information relating to the Loan Parties received by it from such Lender), or
(i)
to the extent such Information (i) becomes publicly available other than by reason of disclosure in breach of this Section 11.08 by any of the Administrative Agent, any Supplemental Administrative Agent, the Collateral Agent, the Lead Arrangers, the Issuing Banks or the Lenders, (ii) becomes available to the Administrative Agent, the Collateral Agent, any Lead Arranger, any Lender, any Issuing Bank, or any of their respective Affiliates on a non-confidential basis from a source other than Holdings, the Borrower or any Subsidiary thereof, and which source is not known by such Person to be subject to a confidentiality restriction in respect thereof in favor of the Borrower or any Affiliate of the Borrower or (iii) is independently developed by the Administrative Agent, the Collateral Agent, any Lead Arranger, any Lender, any Issuing Bank or any of their respective Affiliates without reliance on any other confidential information.
In addition, each of the Administrative Agent, the Collateral Agent, the Lead Arrangers, the Issuing Banks and the Lenders may disclose the existence of this Agreement and customary information about this Agreement to the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers with respect to the Loans, and to market data collectors, similar service providers to the lending industry, and service providers to the Administrative Agent, the Collateral Agent, the Lead Arrangers, the Issuing Banks and the Lenders in connection with the administration and management of this Agreement and the other Loan Documents.
For purposes of this Section 11.08, “Information” means all information received from or on behalf of any Loan Party or any Subsidiary thereof or the Sponsor relating to any Loan Party or any Subsidiary thereof or their respective businesses, other than any such information that is available to the Administrative Agent, the Collateral Agent or any Lender on a non-confidential basis prior to disclosure by any Loan Party or any Subsidiary thereof or the Sponsor; it being understood that all information received from Holdings, the Borrower, any Subsidiary or the Sponsor after the Closing Date shall be deemed confidential unless such information is clearly identified at the time of delivery as not being confidential. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so in accordance with its customary procedures if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information.
Each of the Administrative Agent, the Collateral Agent, the Lead Arrangers and the Lenders acknowledges that (A) the Information may include Private-Side Information concerning Holdings, the Borrower or a Subsidiary, as the case may be, (B) it has developed compliance procedures regarding the use of Private-Side Information and (C) it will handle such Private-Side Information in accordance with applicable Law, including United States Federal and state securities Laws.
Exhibit A
Notwithstanding anything to the contrary therein, nothing in any Loan Document shall require Holdings, the Borrower or any of their subsidiaries to provide information (i) that constitutes non-financial trade secrets or non-financial proprietary information, (ii) in respect of which disclosure is prohibited by applicable Law, (iii) that is subject to attorney client or similar privilege or constitutes attorney work product or (iv) the disclosure of which is restricted by binding agreements not entered into primarily for the purpose of qualifying for the exclusion in this clause (iv).
Each Lender acknowledges that improper disclosure of Information may irreparably harm the Borrower and its Affiliates. Because money damages may not be a sufficient remedy for any breach of this Agreement, the Borrower shall be entitled to seek and obtain specific performance and injunctive or other equitable relief on an emergency, temporary, preliminary and/or permanent basis, as a remedy for any such breach or threatened breach, without first being required to demonstrate actual damages or post any security or bond. Such remedy shall not be deemed to be the exclusive remedy for breach of this Agreement, but shall be in addition to all other legal, equitable or contractual remedies that the Borrower may have.
Section 11.09
Set-off. If an Event of Default shall have occurred and be continuing, each Lender and each Issuing Bank is hereby authorized at any time and from time to time, after obtaining the prior written consent of the Administrative Agent, without notice to any Loan Party or to any other Person (other than the Administrative Agent), any such notice being hereby expressly waived, to the fullest extent permitted by applicable law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held and other obligations (in whatever currency) at any time owing by such Lender or such Issuing Bank or any such Affiliate to or for the credit or the account of the Borrower or any other Loan Party against any and all of the obligations of the Borrower or such Loan Party now or hereafter existing under this Agreement or any other Loan Document to such Lender or such Issuing Bank, the Letters of Credit and participations therein, irrespective of whether or not (a) such Lender or such Issuing Bank shall have made any demand under this Agreement or any other Loan Document and (b) the principal of or the interest on the Loans or any amounts in respect of the Letters of Credit or any other amounts due hereunder shall have become due and payable pursuant to Article II and although such obligations of the Borrower or such Loan Party may be contingent or unmatured or are owed to a branch or office of such Lender or such Issuing Bank different from the branch or office holding such deposit or obligated on such indebtedness; provided that in the event that any Defaulting Lender shall exercise any such right of setoff, (i) all amounts so set off shall be paid over immediately to the Administrative Agent for further application in accordance with the provisions of Sections 2.15 and 2.20 and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent, the Issuing Banks, and the Lenders, and (ii) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such right of setoff. The rights of each Lender and each Issuing Bank and their respective Affiliates under this Section are in addition to other rights and remedies (including other rights of set-off) that such Lender or such Issuing Bank or Affiliates may have. Each Lender agrees to notify the Borrower and the Administrative Agent promptly after any such set-off and application, provided that the failure to give such notice shall not affect the validity of such set-off and application.
Section 11.10
Interest Rate Limitation. Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents with respect to any of the Obligations, shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”). If any Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower. In determining whether the interest contracted for, charged, or received by an Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense, fee,
Exhibit A
or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder. If the rate of interest under this Agreement at any time exceeds the Maximum Rate, the outstanding amount of the Loans made hereunder shall bear interest at the Maximum Rate until the total amount of interest due hereunder equals the amount of interest which would have been due hereunder if the stated rates of interest set forth in this Agreement had at all times been in effect.
Section 11.11
Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement and the other Loan Documents constitute the entire contract among the parties relating to the subject matter hereof and thereof and supersede any and all other agreements and understandings, oral or written, relating to the subject matter hereof or thereof. Delivery of an executed counterpart of a signature page of this Agreement by telecopy or other electronic imaging (including in .pdf or .tif format) means shall be effective as delivery of a manually executed counterpart of this Agreement.
Section 11.12
Electronic Execution of Assignments and Certain Other Documents. The words “execution,” “signed,” “signature,” and words of like import in this Agreement, in any Assignment and Assumption or in any amendment or other modification hereof (including waivers and consents) 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.
Section 11.13
Survival. All representations and warranties made hereunder and in any other Loan Document or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such representations and warranties have been or will be relied upon by the Administrative Agent, each Issuing Bank and each Lender, regardless of any investigation made by the Administrative Agent, any Issuing Bank or any Lender or on their behalf and notwithstanding that the Administrative Agent, any Issuing Bank or any Lender may have had notice or knowledge of any Default at the time of any Borrowing or issuance of a Letter of Credit, and shall continue in full force and effect as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied or any Letter of Credit remain outstanding. Notwithstanding anything herein or implied by law to the contrary, the agreements of each Loan Party set forth in Sections 3.01, 3.04, 11.04, 11.05 and 11.09 and the agreements of the Lenders set forth in Sections 2.15, 10.03 and 10.07 shall survive the satisfaction of the Termination Conditions, and the termination hereof.
Section 11.14
Severability. If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid or unenforceable in any jurisdiction, (a) the legality, validity and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, of this Agreement and the other Loan Documents shall not be affected or impaired thereby, (b) any such provision held to be illegal, invalid or unenforceable in such jurisdiction shall be deemed to have been modified for purpose of such jurisdiction to incorporate any such minimum limitation or modification that would cause such provision to become legal, valid or enforceable in such jurisdiction and (c) if the result of this clause (b) cannot be achieved, the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the intended effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.
Exhibit A
Without limiting the foregoing provisions of this Section 11.14, if and to the extent that the enforceability of any provisions in this Agreement relating to Defaulting Lenders shall be limited by Debtor Relief Laws, as determined in good faith by the Administrative Agent, the Swing Line Lender or any Issuing Bank, then such provisions shall be deemed to be in effect only to the extent not so limited.
Section 11.15
GOVERNING LAW.
(a)
THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER (INCLUDING ANY CLAIMS SOUNDING IN CONTRACT LAW OR TORT LAW ARISING OUT OF THE SUBJECT MATTER HEREOF AND ANY DETERMINATIONS WITH RESPECT TO POST-JUDGMENT INTEREST) AND EACH OTHER LOAN DOCUMENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.
(b)
BY EXECUTING AND DELIVERING THIS AGREEMENT, EACH PARTY IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION AND VENUE OF THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK CITY IN THE BOROUGH OF MANHATTAN AND OF ANY UNITED STATES FEDERAL COURT SITTING IN THE BOROUGH OF MANHATTAN, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT (OTHER THAN WITH RESPECT TO ACTIONS BY ANY AGENT IN RESPECT OF RIGHTS UNDER ANY SECURITY AGREEMENT GOVERNED BY A LAW OTHER THAN THE LAWS OF THE STATE OF NEW YORK OR WITH RESPECT TO ANY COLLATERAL SUBJECT THERETO), OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING SHALL BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. EACH PARTY HERETO AGREES THAT THE AGENTS AND LENDERS RETAIN THE RIGHT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO BRING PROCEEDINGS AGAINST ANY LOAN PARTY IN THE COURTS OF ANY OTHER JURISDICTION IN CONNECTION WITH THE EXERCISE OF ANY RIGHTS UNDER ANY COLLATERAL DOCUMENT OR THE ENFORCEMENT OF ANY JUDGMENT.
(c)
EACH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH (b) OF THIS SECTION. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT.
Section 11.16
WAIVER OF RIGHT TO TRIAL BY JURY. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY
Exhibit A
(WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION, THAT EACH HAS ALREADY RELIED ON THIS WAIVER IN ENTERING INTO THIS AGREEMENT, AND THAT EACH WILL CONTINUE TO RELY ON THIS WAVIER IN ITS RELATED FUTURE DEALINGS. EACH PARTY HERETO FURTHER WARRANTS AND REPRESENTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING (OTHER THAN BY A MUTUAL WRITTEN WAIVER SPECIFICALLY REFERRING TO THIS SECTION 11.16 AND EXECUTED BY EACH OF THE PARTIES HERETO), AND THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS HERETO OR ANY OF THE OTHER LOAN DOCUMENTS OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING TO THE LOANS MADE HEREUNDER. IN THE EVENT OF LITIGATION, THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT.
Section 11.17
Limitation of Liability. In no event, shall any party hereto, any Loan Party or any Indemnitee be liable on any theory of liability for any special, indirect, consequential or punitive damages (including any loss of profits, business or anticipated savings) (other than, in the case of the Borrower, in respect of any such damages incurred or paid by an Indemnitee to a third party). Each party hereto hereby waives, releases and agrees (each for itself and on behalf of its Subsidiaries) not to sue upon any such claim for any special, indirect, consequential or punitive damages, whether or not accrued and whether or not known or suspected to exist in its favor.
Section 11.18
Limitation of Personal Liabilities. Where any individual gives a certificate or notification or signs any document or otherwise gives a representation or warranty on behalf of any of the parties to the Loan Documents pursuant to any provision thereof and such certificate, notification, document, representation or statement proves to be incorrect, the individual shall incur no personal liability in consequence of such certificate, notification, document, representation or statement being incorrect unless where such individual acted fraudulently or with gross negligence in giving such certificate, notification, document, representation or statement (in which case any liability of such individual shall be determined in accordance with applicable Laws).
Section 11.19
USA PATRIOT Act Notice. Each Lender that is subject to the USA PATRIOT Act and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies each Loan Party that pursuant to the requirements of the USA PATRIOT Act and the Beneficial Ownership Regulation, it is required to obtain, verify and record information that identifies each Loan Party, which information includes the name and address of each Loan Party and other information that will allow such Lender or the Administrative Agent, as applicable, to identify each Loan Party in accordance with the USA PATRIOT Act and the Beneficial Ownership Regulation. Each Loan Party shall, promptly following a request by the Administrative Agent or any Lender, provide all documentation and other information that the Administrative Agent or such Lender requests in order to comply with its ongoing obligations under
Exhibit A
applicable “know your customer” and Anti-Money Laundering Laws.
Section 11.20
Service of Process. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 11.02. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW.
Section 11.21
No Advisory or Fiduciary Responsibility. In connection with all aspects of each transaction contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), each Loan Party acknowledges and agrees, and acknowledges its Affiliates’ understanding that: (a) (i) the transactions contemplated by the Loan Documents (including the exercise of rights and remedies hereunder and thereunder) are arm’s-length commercial transactions between the Agents, the Lenders, the Issuing Banks, the Swing Line Lender and the Lead Arrangers on the one hand, and the Loan Parties and their Affiliates, on the other hand, (ii) each of the Loan Parties has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (iii) each of the Loan Parties is capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents; (b) (i) the Agents, the Issuing Banks, the Swing Line Lender and the Lead Arrangers are and have been, and each Lender is and has been, acting solely as a principal and, except as expressly agreed in writing by the relevant parties, have or has not been, are or is not, and will not be acting as an advisor, agent or fiduciary for the Loan Parties, its stockholders or its Affiliates (irrespective of whether any Lender has advised, is currently advising or will advise any Loan Party, its stockholders or its Affiliates on other matters), or any other Person and (ii) none of the Agents, the Issuing Banks, the Swing Line Lender, the Lead Arrangers nor any Lender has any obligation to the Borrower, Holdings or any of their respective Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; and (c) the Agents, the Issuing Banks, the Swing Line Lender, the Lead Arrangers, the Lenders and their respective Affiliates may be engaged in a broad range of transactions that involve economic interests that conflict with those of the Loan Parties, their stockholders and/or their affiliates, and none of the Agents, the Issuing Banks, the Swing Line Lender, the Lead Arrangers nor any Lender has any obligation to disclose any of such interests to the Borrower, Holdings or any of their respective Affiliates. Each Loan Party agrees that nothing in the Loan Documents or otherwise will be deemed to create an advisory, fiduciary or agency relationship or fiduciary or other implied duty between any Lender, on the one hand, and such Loan Party, its stockholders or its affiliates, on the other. To the fullest extent permitted by law, each Loan Party hereby waives and releases any claims that it may have against the Agents, the Issuing Banks, the Swing Line Lender, the Lead Arrangers or any Lender with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby.
Section 11.22
Binding Effect. This Agreement shall become effective when it shall have been executed by the Borrower, Holdings and the Administrative Agent and the Administrative Agent shall have been notified by each Lender and each Issuing Bank that each such Lender or each such Issuing Bank has executed it and thereafter shall be binding upon and inure to the benefit of the Borrower, Holdings, each Agent, each Lender and each Issuing Bank and their respective successors and assigns.
Section 11.23
Obligations Several; Independent Nature of Lender’s Rights. The obligations of the Lenders hereunder are several and no Lender shall be responsible for the obligations or Commitments of any other Lender hereunder. Nothing contained herein or in any other Loan Document, and no action taken by the Lenders pursuant hereto or thereto, shall be deemed to constitute the Lenders as a partnership, an association, a joint venture or any other kind of entity.
Section 11.24
Headings. Section headings herein are included herein for convenience of
Exhibit A
reference only and shall not constitute a part hereof for any other purpose or be given any substantive effect.
Section 11.25
Acknowledgement and Consent to Bail-In of Affected Financial Institutions.
Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Affected Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of the applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:
(a)
the application of any Write-Down and Conversion Powers by the applicable Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an Affected Financial Institution; and
(b)
the effects of any Bail-in Action on any such liability, including, if applicable:
(i)
a reduction in full or in part or cancellation of any such liability;
(ii)
a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such Affected Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Loan Document; or
(iii)
the variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of any Resolution Authority.
Section 11.26
Acknowledgment Regarding Any Supported QFCs.
(a)
To the extent that the Loan Documents provide support, through a guarantee or otherwise (including the Guaranty), for any Hedge Agreement 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 Loan 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).
(b)
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 Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against
Exhibit A
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 Loan 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.
[SIGNATURE PAGES INTENTIONALLY OMITTED.]
Exhibit A
Schedule 1
2024 Refinancing Term Loan Commitments
New Term Loan Lender |
2024 Refinancing Term Loan Commitments |
[●] |
$966,797,286.45 |
Total |
$966,797,286.45 |
Schedule 1