<SEC-DOCUMENT>0001193125-21-176922.txt : 20210528
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<ACCEPTANCE-DATETIME>20210528160614
ACCESSION NUMBER:		0001193125-21-176922
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		16
CONFORMED PERIOD OF REPORT:	20210524
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210528
DATE AS OF CHANGE:		20210528

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LAMAR ADVERTISING CO/NEW
		CENTRAL INDEX KEY:			0001090425
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				721449411
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36756
		FILM NUMBER:		21980162

	BUSINESS ADDRESS:	
		STREET 1:		C/O LAMAR ADVERTISING COMPANY
		STREET 2:		5321 CORPORATE BOULEVARD
		CITY:			BATON ROUGE
		STATE:			LA
		ZIP:			70808
		BUSINESS PHONE:		2259261000

	MAIL ADDRESS:	
		STREET 1:		C/O LAMAR ADVERTISING COMPANY
		STREET 2:		5321 CORPORATE BOULEVARD
		CITY:			BATON ROUGE
		STATE:			LA
		ZIP:			70808

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LAMAR NEW HOLDING CO
		DATE OF NAME CHANGE:	19990716

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LAMAR MEDIA CORP/DE
		CENTRAL INDEX KEY:			0000899045
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				721205791
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12407
		FILM NUMBER:		21980163

	BUSINESS ADDRESS:	
		STREET 1:		5321 CORPORATE BOULEVARD
		CITY:			BATON ROUGE
		STATE:			LA
		ZIP:			70808
		BUSINESS PHONE:		2259261000

	MAIL ADDRESS:	
		STREET 1:		5321 CORPORATE BOULEVARD
		CITY:			BATON ROUGE
		STATE:			LA
		ZIP:			70808

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LAMAR ADVERTISING CO /DE/
		DATE OF NAME CHANGE:	19990714

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LAMAR MEDIA CORP
		DATE OF NAME CHANGE:	19990713

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LAMAR ADVERTISING CO
		DATE OF NAME CHANGE:	19930319
</SEC-HEADER>
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<td style="vertical-align: bottom;">&#160;</td>
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<td style="vertical-align: bottom;">&#160;</td>
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<td style="vertical-align: top;;text-align:center;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">(Commission<br/>File Numbers)</div></div></td>
<td style="vertical-align: bottom;">&#160;</td>
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<td style="vertical-align: top;">Lamar Advertising Company</td>
<td style="vertical-align: bottom;">&#160;&#160;</td>
<td style="vertical-align: top;"></td>
<td style="vertical-align: bottom;">&#160;&#160;</td>
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<td style="vertical-align: top;">Lamar Media Corp.</td>
<td style="vertical-align: bottom;">&#160;&#160;</td>
<td style="vertical-align: top;"></td>
<td style="vertical-align: bottom;">&#160;&#160;</td>
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<td style="vertical-align: top;">Lamar Advertising Company</td>
<td style="vertical-align: bottom;">&#160;&#160;</td>
<td style="vertical-align: top;;text-align:right;">&#9744;</td></tr>
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<td style="vertical-align: top;">Lamar Media Corp.</td>
<td style="vertical-align: bottom;">&#160;&#160;</td>
<td style="vertical-align: top;;text-align:right;">&#9744;</td></tr></table><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="line-height: 1pt; margin-top: 0pt; margin-bottom: 0pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="line-height: 3pt; margin-top: 0pt; margin-bottom: 2pt; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div></div></div><div style="margin-top: 1em; margin-bottom: 0em; page-break-before: always;"></div><hr style="width: 100%; height: 3px; color: rgb(153, 153, 153);"/><div style="text-align: center;"><div style="width: 8.5in; text-align: left; margin-right: auto; margin-left: auto;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-weight:bold;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Item&#160;1.01. 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<td style="vertical-align: bottom;">&#160;&#160;</td>
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<td style="vertical-align: top; white-space: nowrap;;text-align:right;">10.1</td>
<td style="vertical-align: top; white-space: nowrap;">&#160;</td>
<td style="vertical-align: bottom;">&#160;&#160;</td>
<td style="vertical-align: top;"><a href="d175058dex101.htm">Fifth Amendment to the Receivables Financing Agreement, dated as of May&#160;24, 2021, among Lamar Media, as Initial Servicer, the SPEs, as Borrowers, and PNC Bank, National Association, as Administrative Agent and a Lender. </a></td></tr>
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<td style="vertical-align: top; white-space: nowrap;;text-align:right;">104</td>
<td style="vertical-align: top; white-space: nowrap;">&#160;</td>
<td style="vertical-align: bottom;">&#160;&#160;</td>
<td style="vertical-align: top;">Cover Page Interactive Data File - (embedded within the Inline XBRL document).</td></tr></table><div style="clear: both; max-height: 0px; background: none;"></div></div></div><div style="margin-top: 1em; margin-bottom: 0em; page-break-before: always;"></div><hr style="width: 100%; height: 3px; color: rgb(153, 153, 153);"/><div style="text-align: center;"><div style="width: 8.5in; text-align: left; margin-right: auto; margin-left: auto;"><div style="text-align: center; font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-weight:bold;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">SIGNATURES </div></div></div><div style="text-indent: 4%; font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized. </div></div><div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div>
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<td style="vertical-align: top;">Date: May&#160;28, 2021</td>
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<td style="vertical-align: bottom;">&#160;</td>
<td colspan="3" style="vertical-align: bottom; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">LAMAR ADVERTISING COMPANY</div></div></td></tr>
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<td style="vertical-align: bottom; white-space: nowrap;">By:</td>
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<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-top: 0pt; margin-bottom: 1pt; border-bottom: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">/s/ Jay L. Johnson</div></div></td></tr>
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<td style="vertical-align: bottom;">&#160;</td>
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<td style="vertical-align: bottom;">&#160;</td>
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<td style="vertical-align: bottom;">&#160;</td>
<td style="vertical-align: bottom; white-space: nowrap;">Executive Vice President, Chief Financial Officer, and Treasurer</td></tr>
<tr style="font-size: 1pt;">
<td style="height: 12pt; font-family: &quot;Times New Roman&quot;;"></td>
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<td style="vertical-align: top;">Date: May&#160;28, 2021</td>
<td style="vertical-align: bottom;">&#160;</td>
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<td style="vertical-align: bottom;">&#160;</td>
<td colspan="3" style="vertical-align: bottom; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">LAMAR MEDIA CORP.</div></div></td></tr>
<tr style="font-size: 1pt;">
<td style="height: 12pt; font-family: &quot;Times New Roman&quot;;"></td>
<td colspan="2" style="height: 12pt; font-family: &quot;Times New Roman&quot;;"></td>
<td colspan="2" style="height: 12pt; font-family: &quot;Times New Roman&quot;;"></td>
<td colspan="2" style="height: 12pt; font-family: &quot;Times New Roman&quot;;"></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;;"></td>
<td style="vertical-align: bottom;">&#160;</td>
<td style="vertical-align: bottom; font-family: &quot;Times New Roman&quot;;"></td>
<td style="vertical-align: bottom;">&#160;</td>
<td style="vertical-align: bottom; white-space: nowrap;">By:</td>
<td style="vertical-align: bottom;">&#160;</td>
<td style="vertical-align: bottom; white-space: nowrap;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; margin-top: 0pt; margin-bottom: 1pt; border-bottom: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">/s/ Jay L. Johnson</div></div></td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;;"></td>
<td style="vertical-align: bottom;">&#160;</td>
<td style="vertical-align: bottom; font-family: &quot;Times New Roman&quot;;"></td>
<td style="vertical-align: bottom;">&#160;</td>
<td style="vertical-align: bottom; font-family: &quot;Times New Roman&quot;;"></td>
<td style="vertical-align: bottom;">&#160;</td>
<td style="vertical-align: bottom; white-space: nowrap;">Jay L. Johnson</td></tr>
<tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;">
<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;;"></td>
<td style="vertical-align: bottom;">&#160;</td>
<td style="vertical-align: bottom; font-family: &quot;Times New Roman&quot;;"></td>
<td style="vertical-align: bottom;">&#160;</td>
<td style="vertical-align: bottom; font-family: &quot;Times New Roman&quot;;"></td>
<td style="vertical-align: bottom;">&#160;</td>
<td style="vertical-align: bottom; white-space: nowrap;">Executive Vice President, Chief Financial Officer, and Treasurer</td></tr></table><div style="clear: both; max-height: 0px; background: none;"></div></div></div></div>
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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d175058dex101.htm
<DESCRIPTION>EX-10.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>EXECUTION VERSION </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FIFTH
AMENDMENT TO THE </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RECEIVABLES FINANCING AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This FIFTH AMENDMENT TO THE RECEIVABLES FINANCING AGREEMENT (this &#147;<U>Amendment</U>&#148;), dated as of May&nbsp;24, 2021, is entered
into by and among the following parties: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">LAMAR TRS RECEIVABLES, LLC, a Delaware limited liability company, as a Borrower (the &#147;<U>TRS
Borrower</U>&#148;); </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">LAMAR QRS RECEIVABLES, LLC, a Delaware limited liability company, as a Borrower (the &#147;<U>QRS
Borrower</U>&#148;; together with the TRS Borrower, collectively, the &#147;<U>Borrowers</U>&#148;); </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">LAMAR MEDIA CORP., a Delaware corporation, as initial Servicer; and </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iv)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">PNC BANK, NATIONAL ASSOCIATION (&#147;<U>PNC</U>&#148;), as Administrative Agent and as Lender.
</P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Capitalized terms used but not otherwise defined herein (including such terms used above) have the respective meanings
assigned thereto in the Receivables Financing Agreement described below. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">BACKGROUND </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A. The parties hereto have entered into a Receivables Financing Agreement, dated as of December&nbsp;18, 2018 (as amended, restated,
supplemented or otherwise modified through the date hereof, the &#147;<U>Receivables Financing Agreement</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">B. Concurrently
herewith, the TRS Borrower, as buyer, the Servicer, as servicer and as an originator, and the various originators party thereto, are entering into that certain Second Amendment to the Purchase and Sale Agreement, dated as of the date hereof (the
&#147;<U>TRS PSA Amendment</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">C. Concurrently herewith, the QRS Borrower, as buyer, the Servicer, as servicer and as an
originator, and the various originators party thereto, are entering into that certain Third Amendment to the Purchase and Sale Agreement, dated as of the date hereof (the &#147;<U>QRS PSA Amendment</U>&#148; and, together with the TRS PSA Amendment,
the &#147;<U>PSA Amendments</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">D. Concurrently herewith, the Borrowers, PNC and PNC Capital Markets LLC are entering into that
certain Amended and Restated Fee Letter, dated as of the date hereof (the &#147;<U>Fee Letter</U>&#148;, and together with the PSA Amendments, the &#147;<U>Related Agreements</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">E. The parties hereto desire to amend the Receivables Financing Agreement as set forth herein. </P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW THEREFORE, with the intention of being legally bound hereby, and in consideration of the
mutual undertakings expressed herein, each party to this Amendment hereby agrees as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 1. <U>Amendments to the Receivables
Financing Agreement</U>. The Receivables Financing Agreement is hereby amended to incorporate the changes shown on the marked pages of the Receivables Financing Agreement attached hereto as <U>Exhibit A</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 2. <U>Representations and Warranties of the Borrowers and the Servicer</U>. Each Borrower and the Servicer hereby represent and
warrant to each of the parties hereto as of the date hereof as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Representations and Warranties</I>. The
representations and warranties made by it in the Receivables Financing Agreement and each of the other Transaction Documents to which it is a party are true and correct in all material respects as of the date hereof unless such representations and
warranties by their terms refer to an earlier date, in which case they are true and correct in all material respects as of such earlier date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Enforceability</I>. The execution and delivery by it of this Amendment, and the performance of its obligations under
this Amendment, the Related Agreements, the Receivables Financing Agreement (as amended hereby) and the other Transaction Documents to which it is a party are within its organizational powers and have been duly authorized by all necessary action on
its part, and this Amendment, the Related Agreements, the Receivables Financing Agreement (as amended hereby) and the other Transaction Documents to which it is a party are (assuming due authorization and execution by the other parties thereto) its
valid and legally binding obligations, enforceable in accordance with their terms, except (i)&nbsp;as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement
of creditors&#146; rights generally and (ii)&nbsp;as such enforceability may be limited by general principles of equity, regardless of whether such enforceability is considered in a proceeding in equity or at law. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>No Event of Default</I>. No Event of Default or Unmatured Event of Default has occurred and is continuing, or would
occur as a result of this Amendment, the Related Agreements or the transactions contemplated hereby or thereby. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 3. <U>Effect of
Amendment; Ratification</U>. All provisions of the Receivables Financing Agreement and the other Transaction Documents, as expressly amended and modified by this Amendment, shall remain in full force and effect. After this Amendment becomes
effective, all references in the Receivables Financing Agreement (or in any other Transaction Document) to &#147;this Receivables Financing Agreement&#148;, &#147;this Agreement&#148;, &#147;hereof&#148;, &#147;herein&#148; or words of similar
effect referring to the Receivables Financing Agreement shall be deemed to be references to the Receivables Financing Agreement as amended by this Amendment. This Amendment shall not be deemed, either expressly or impliedly, to waive, amend or
supplement any provision of the Receivables Financing Agreement other than as set forth herein. The Receivables Financing Agreement, as amended by this Amendment, is hereby ratified and confirmed in all respects. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 4. <U>Effectiveness</U>. This Amendment shall become effective as of the date
hereof, subject to the conditions precedent that the Administrative Agent shall have received the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a)
counterparts to this Amendment executed by each of the parties hereto; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) counterparts to the Related Agreements executed
by each of the parties thereto; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) confirmation that all fees owing under the Fee Letter have been paid in accordance
with its terms. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 5. <U>Severability</U>. Any provisions of this Amendment which are prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 6. <U>Transaction Document</U>. This Amendment shall
be a Transaction Document for purposes of the Receivables Financing Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 7. <U>Counterparts</U>. This Amendment may be
executed in any number of counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same agreement. Delivery of an executed counterpart hereof by facsimile or
other electronic means shall be equally effective as delivery of an originally executed counterpart. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 8. <U>GOVERNING LAW AND
JURISDICTION</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) THIS AMENDMENT, INCLUDING THE RIGHTS AND DUTIES OF THE PARTIES HERETO, SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS <FONT STYLE="white-space:nowrap">5-1401</FONT> AND <FONT STYLE="white-space:nowrap">5-1402</FONT> OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK, BUT WITHOUT REGARD TO
ANY OTHER CONFLICTS OF LAW PROVISIONS THEREOF). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) EACH PARTY HERETO HEREBY IRREVOCABLY SUBMITS TO (I)&nbsp;WITH RESPECT TO EACH
BORROWER AND THE SERVICER, THE EXCLUSIVE JURISDICTION, AND (II)&nbsp;WITH RESPECT TO EACH OF THE OTHER PARTIES HERETO, THE <FONT STYLE="white-space:nowrap">NON-EXCLUSIVE</FONT> JURISDICTION, IN EACH CASE, OF ANY NEW YORK STATE OR FEDERAL COURT
SITTING IN NEW YORK CITY, NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AMENDMENT, AND EACH PARTY HERETO HEREBY IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING (I)&nbsp;IF BROUGHT BY ANY BORROWER,
THE SERVICER OR ANY AFFILIATE THEREOF, SHALL BE HEARD AND DETERMINED, AND (II)&nbsp;IF BROUGHT BY ANY OTHER PARTY TO THIS AMENDMENT MAY BE HEARD AND DETERMINED, IN EACH CASE, IN SUCH NEW YORK STATE COURT OR, TO THE EXTENT PERMITTED BY LAW, IN SUCH
FEDERAL COURT. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
NOTHING IN THIS <U>SECTION 8</U> SHALL AFFECT THE RIGHT OF THE ADMINISTRATIVE AGENT OR ANY OTHER CREDIT PARTY TO BRING ANY ACTION OR PROCEEDING AGAINST ANY BORROWER OR THE SERVICER OR ANY OF
THEIR RESPECTIVE PROPERTY IN THE COURTS OF OTHER JURISDICTIONS. EACH BORROWER AND THE SERVICER HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR
PROCEEDING. THE PARTIES HERETO AGREE 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. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 9. <U>Section Headings</U>. The various headings of this Amendment are included for convenience only and shall not affect the meaning
or interpretation of this Amendment, the Receivables Financing Agreement or any provision hereof or thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 10. <U>Performance
Guaranty Ratification</U>. After giving effect to this Amendment and the Related Agreements and the transactions contemplated hereby and thereby, (i)&nbsp;all of the provisions of the Performance Guaranty shall remain in full force and effect and
(ii)&nbsp;the Performance Guarantor hereby ratifies and affirms the Performance Guaranty and acknowledges that the Performance Guaranty has continued and shall continue in full force and effect in accordance with its terms. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>[S<SMALL>IGNATURE</SMALL> <SMALL>PAGES</SMALL> <SMALL>FOLLOW</SMALL>] </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties hereto have executed this Amendment by their duly authorized
officers as of the date first above written. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="12%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>LAMAR TRS RECEIVABLES, LLC,</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">as a Borrower</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jay L. Johnson</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Jay L. Johnson</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Executive Vice President, Chief Financial Officer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>LAMAR QRS RECEIVABLES, LLC,</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">as a Borrower</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jay L. Johnson</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Jay L. Johnson</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Executive Vice President, Chief Financial Officer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>LAMAR MEDIA CORP.,</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">as the Servicer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jay L. Johnson</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Jay L. Johnson</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Executive Vice President, Chief Financial Officer</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">

<TR>

<TD WIDTH="50%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="right">S-1</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><I>Fifth Amendment to the Receivables Financing</I> <I>Agreement</I></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="12%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>PNC&nbsp;BANK,&nbsp;NATIONAL&nbsp;ASSOCIATION,</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">as Administrative Agent</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Imad
Naja&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Imad Naja</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Senior Vice President</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>PNC&nbsp;BANK,&nbsp;NATIONAL&nbsp;ASSOCIATION,</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">as a Lender</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Imad Naja</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Imad Naja</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Senior Vice President</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">

<TR>

<TD WIDTH="50%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="right">S-2</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><I>Fifth Amendment to the Receivables Financing</I> <I>Agreement</I></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="13%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="86%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Acknowledged&nbsp;and&nbsp;agreed:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>LAMAR MEDIA CORP.</B>,</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">as
Performance Guarantor</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jay L.
Johnson&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Jay L. Johnson</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Executive Vice President, Chief Financial Officer</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">

<TR>

<TD WIDTH="50%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="right">S-3</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"><I>Fifth Amendment to the Receivables Financing</I> <I>Agreement</I></TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit A </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(attached) </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>EXECUTION VERSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>EXHIBIT A to </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><FONT
STYLE="font-family:Times New Roman" COLOR="#ff0000"><STRIKE>F</STRIKE></FONT><FONT STYLE="font-family:Times New Roman" COLOR="#ff0000"><STRIKE>o</STRIKE></FONT><FONT STYLE="font-family:Times New Roman" COLOR="#ff0000"><STRIKE>u</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman" COLOR="#ff0000"><STRIKE>rt</STRIKE></FONT><FONT STYLE="font-family:Times New Roman" COLOR="#ff0000"><STRIKE>h</STRIKE></FONT><FONT STYLE="font-family:Times New Roman" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Fifth
</U></FONT> Amendment to Receivables Financing Agreement, dated as of <FONT STYLE="font-family:Times New Roman" COLOR="#ff0000"><STRIKE>O</STRIKE></FONT><FONT STYLE="font-family:Times New Roman" COLOR="#ff0000"><STRIKE>ct</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman" COLOR="#ff0000"><STRIKE>o</STRIKE></FONT><FONT STYLE="font-family:Times New Roman" COLOR="#ff0000"><STRIKE>b</STRIKE></FONT><FONT STYLE="font-family:Times New Roman" COLOR="#ff0000"><STRIKE>e</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman" COLOR="#ff0000"><STRIKE>r</STRIKE></FONT><FONT STYLE="font-family:Times New Roman" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT STYLE="font-family:Times New Roman" COLOR="#ff0000"><STRIKE>&nbsp;
23,</STRIKE></FONT><FONT STYLE="font-family:Times New Roman" COLOR="#ff0000"><STRIKE>&nbsp;</STRIKE></FONT> </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><FONT
STYLE="font-family:Times New Roman" COLOR="#ff0000"><STRIKE>2020</STRIKE></FONT><FONT STYLE="font-family:Times New Roman" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">May 24, 2021</U></FONT> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">RECEIVABLES FINANCING AGREEMENT </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Dated as of December 18, 2018 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">by
and among </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">THE PERSONS FROM TIME TO TIME PARTY HERETO, </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as Borrowers, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">THE PERSONS FROM
TIME TO TIME PARTY HERETO, </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as Lenders, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">PNC BANK, NATIONAL ASSOCIATION, </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as Administrative Agent, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">LAMAR
MEDIA CORP., </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as initial Servicer, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">PNC CAPITAL MARKETS LLC,
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as Structuring Agent </P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TABLE OF CONTENTS </B></P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE;padding-bottom:2pt; margin-bottom:-1pt; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="17%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center"><B>Page</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE&nbsp;I &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DEFINITIONS</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;1.01.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Certain Defined Terms</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;1.02.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other Interpretative Matters</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>35</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">34</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE&nbsp;II &nbsp;&nbsp;&nbsp;&nbsp;TERMS OF THE LOANS</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>36</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">35</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.01.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Loan Facility</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>36</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">35</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.02.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Making Loans; Repayment of Loans</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>36</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">35</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.03.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest and Fees</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>39</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">38</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.04.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Records of Loans</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>39</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">38</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.05.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Selection of Interest Rates and Tranche Periods</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>39</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">38</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.06.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Borrowers Jointly and Severally Liable for Obligations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>40</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">39</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.07.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Defaulting Lenders</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>43</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">42</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE&nbsp;III &nbsp;&nbsp;&nbsp;[RESERVED]</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>44</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">43</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE IV &nbsp;&nbsp;&nbsp;SETTLEMENT PROCEDURES AND PAYMENT PROVISIONS</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>44</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">43</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.01.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Settlement Procedures</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>44</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">43</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.02.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Payments and Computations, Etc</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>47</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">46</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3">ARTICLE V &nbsp;&nbsp;&nbsp;&nbsp;INCREASED COSTS; FUNDING LOSSES; TAXES; ILLEGALITY AND SECURITY INTEREST</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>47</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">46</U></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;5.01.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Increased Costs</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>47</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">46</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;5.02.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Funding Losses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>49</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">48</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;5.03.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Taxes</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>49</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">48</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;5.04.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Inability to Determine Adjusted LIBOR or LMIR; Change in Legality</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>53</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">52</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;5.05.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Security Interest</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>54</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">53</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;5.06.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><FONT COLOR="#ff0000"><STRIKE>Successor Adjusted LIBOR or LMIR55</STRIKE></FONT><FONT
 COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Benchmark Replacement Setting</U></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">54</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE VI &nbsp;&nbsp;&nbsp;CONDITIONS TO EFFECTIVENESS AND CREDIT
EXTENSIONS</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>56</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">62</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.01.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Conditions Precedent to Effectiveness and the Initial Credit Extension</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>56</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">62</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.02.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Conditions Precedent to All Credit Extensions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>56</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">62</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.03.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Conditions Precedent to All Releases</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>56</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">63</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE&nbsp;VII &nbsp;&nbsp;REPRESENTATIONS AND WARRANTIES</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>57</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">64</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.01.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Representations and Warranties of the Borrowers</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>57</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">64</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.02.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Representations and Warranties of the Servicer</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>62</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">69</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-i- </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TABLE OF CONTENTS </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(continued) </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE;padding-bottom:2pt; margin-bottom:-1pt; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="17%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD COLSPAN="3" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center"><B>Page</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE&nbsp;VIII &nbsp;&nbsp;&nbsp;&nbsp;COVENANTS</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>66</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">72</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8.01.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Covenants of the Borrowers</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>66</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">72</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8.02.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Covenants of the Servicer</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>76</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">82</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8.03.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Separate Existence of the Borrowers</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>84</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">90</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE IX &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ADMINISTRATION AND COLLECTION OF
RECEIVABLES</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>88</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">93</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.01.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Appointment of the Servicer</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>88</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">93</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.02.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Duties of the Servicer</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>89</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">94</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.03.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Collection Account Arrangements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>90</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">95</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.04.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Enforcement Rights</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>90</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">96</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.05.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Responsibilities of the Borrowers</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>93</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">98</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.06.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Servicing Fee</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>93</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">99</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE X &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EVENTS OF DEFAULT</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>94</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">99</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;10.01.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Events of Default</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>94</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">99</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE XI &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THE ADMINISTRATIVE AGENT</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>98</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">103</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.01.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Authorization and Action</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>98</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">103</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.02.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Administrative Agent&#146;s Reliance, Etc</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>98</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">103</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.03.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Administrative Agent and Affiliates</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>98</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">104</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.04.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Indemnification of Administrative Agent</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>99</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">104</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.05.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Delegation of Duties</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>99</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">104</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.06.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Action or Inaction by Administrative Agent</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>99</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">104</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.07.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notice of Events of Default; Action by Administrative Agent</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>99</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">105</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.08.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">Non-Reliance</FONT> on Administrative Agent and Other
Parties</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>99</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">105</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.09.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Successor Administrative Agent</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>100</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">105</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.10.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Structuring Agent</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>100</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">106</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.11.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Erroneous
Payments</U></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">106</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">SECTION&nbsp;
11.12.</U></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">LIBOR Notification</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>100</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">107</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE&nbsp;XII &nbsp;&nbsp;&nbsp;&nbsp;[RESERVED]</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>101</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">107</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE&nbsp;XIII &nbsp;&nbsp;&nbsp;INDEMNIFICATION</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>101</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">107</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;13.01.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Indemnities by the Borrowers</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>101</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">107</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;13.02.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Indemnification by the Servicer</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>104</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">110</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-ii- </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TABLE OF CONTENTS </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(continued) </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE;padding-bottom:2pt; margin-bottom:-1pt; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="17%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="75%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center"><B>Page</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE&nbsp;XIV
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MISCELLANEOUS</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>106</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">112</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;14.01.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Amendments, Etc</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>106</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">112</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;14.02.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notices, Etc</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>107</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">113</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;14.03.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Assignability; Addition of Lenders</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>107</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">114</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;14.04.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Costs and Expenses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>110</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">116</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;14.05.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">No Proceedings; Limitation on Payments</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>110</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">117</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;14.06.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Confidentiality</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>110</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">117</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;14.07.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">GOVERNING LAW</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>112</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">118</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;14.08.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Execution in Counterparts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>112</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">118</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;14.09.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Integration; Binding Effect; Survival of Termination</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>112</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">119</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;14.10.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">CONSENT TO JURISDICTION</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>113</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">119</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;14.11.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">WAIVER OF JURY TRIAL</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>113</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">120</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;14.12.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Ratable Payments</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>113</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">120</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;14.13.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation of Liability</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>114</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">120</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;14.14.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Intent of the Parties</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>114</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">120</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;14.15.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">USA Patriot Act</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>115</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">121</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;14.16.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Right of Setoff</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>115</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">121</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;14.17.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Severability</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>115</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">121</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;14.18.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Mutual Negotiations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>115</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">121</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;14.19.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Captions and Cross References</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>115</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">122</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;14.20.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Post-Closing Covenants</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#ff0000"><STRIKE>116</STRIKE></FONT><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">122</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">
<P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">SECTION&nbsp;
14.21.</U></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Joinder of
Originators</U></FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"></U></FONT>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><FONT COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">122</U></FONT></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-iii- </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Anti-Terrorism Laws</U>&#148; means any Applicable Law relating to terrorism
financing, trade sanctions programs and embargoes, import/export licensing, money laundering or bribery, and any regulation, order, or directive promulgated, issued or enforced pursuant to such Applicable Laws, all as amended, supplemented or
replaced from time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Applicable Law</U>&#148; means, with respect to any Person, (x) all provisions of law, statute,
treaty, constitution, ordinance, rule, regulation, ordinance, requirement, restriction, permit, executive order, certificate, decision, directive or order of any Governmental Authority applicable to such Person or any of its property and (y) all
judgments, injunctions, orders, writs, decrees and awards of all courts and arbitrators in proceedings or actions in which such Person is a party or by which any of its property is bound. For the avoidance of doubt, FATCA shall constitute an
&#147;Applicable Law&#148; for all purposes of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Applicable Obligor</U>&#148; means (i) with respect to any Agency
Receivable, the related </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Agency Obligor and (ii) with respect to any other Receivable, the related Advertiser Obligor. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>App</U><U>r</U><U>ov</U><U>e</U><U>d</U><U> </U><U>A</U><U>cc</U><U>ount</U>&#148; means <FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>eac</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>h</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(i) so long as the election in clause (ii) below has not been made, the</U></FONT><FONT STYLE="font-family:Times New Roman">
account listed on <U>S</U><U>c</U><U>h</U><U>e</U><U>dule</U><U> </U><U>V</U> to this Agreement </FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">or (ii) if
elected by the Borrowers in their sole discretion, such other account in the name of a Borrower at Hancock Whitney Bank (or another depository institution reasonably acceptable to</U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">
</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">the Administrative
Agent</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">
</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">and not prohibited under Applicable Law from receiving Subject Obligor Collections) identified in a writing
delivered to the Administrative Agent by or on behalf of a Borrower on or prior to the Post-Closing Date.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>&#147;</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><strike><u>Approved Account Conditions</u></strike></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>&#148; m</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>ea</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>ns,</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> a</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>t</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> a</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>ny</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> time</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> of</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> d</STRIKE></FONT><FONT
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<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Assignment and Acceptance Agreement</U>&#148; means an assignment and acceptance agreement entered into by a Lender, an Eligible
Assignee and the Administrative Agent, and, if required, a Borrower, pursuant to which such Eligible Assignee may become a party to this Agreement, in substantially the form of <U>Exhibit C</U> hereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Attorney Costs</U>&#148; means and includes all fees, costs, expenses and disbursements of any law firm or other external counsel
(which counsel shall be limited to one outside law firm (or such greater number determined by any Credit Party while an Event of Default has occurred and is continuing) for the Administrative Agent and all Credit Parties (or, in the case of (i)<U>
Section </U><U>13.01</U>, one outside law firm (or such greater number determined by any Borrower Indemnified Party while an Event of Default has occurred and is continuing) for all Borrower Indemnified Parties or (ii)<U> Section</U><U></U><U>
13.02</U>, one outside law firm (or such greater number determined by any Servicer Indemnified Party while an Event of Default has occurred and is continuing) for all Servicer Indemnified Parties (other than the Borrowers and their respective
officers, directors, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">agents and employees)), and, if reasonably required, a single local law firm in each applicable
jurisdiction, so long as no Credit Party (or Borrower Indemnified Party or Servicer Indemnified Party, as the case may be) has in good faith (based on advice of counsel), reasonably determined that its interests conflict sufficiently with those of
the other Credit Parties (or Borrower Indemnified Parties or Servicer Indemnified Parties, as the case may be) to warrant the retention of separate counsel for such Credit Party (or Borrower Indemnified Party or Servicer Indemnified Party, as the
case may be), in which case, &#147;Attorney Costs&#148; shall also include the fees, costs and disbursements of such separate counsel). For the avoidance of doubt, &#147;Attorney Costs&#148; shall include fees, costs, expenses and disbursements of
McGlinchey Stafford PLLC, as a local Louisiana law firm for the Credit Parties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Bankruptcy Code</U>&#148; means the United
States Bankruptcy Reform Act of 1978 (11 U.S.C. &#167; 101, et seq.), as amended from time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Base Rate</U>&#148; means,
for any day and any Lender, a fluctuating interest rate per annum as shall be in effect from time to time, which rate shall be at all times equal to the highest of: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) the rate of interest in effect for such day as publicly announced from time to time by such Lender or its Affiliate as its
&#147;reference rate&#148; or &#147;prime rate&#148;, as applicable. Such &#147;reference rate&#148; or &#147;prime rate&#148; is set by the applicable Lender or its Affiliate based upon various factors, including such Person&#146;s costs and
desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above or below such announced rate, and is not necessarily the lowest rate charged to any customer; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) 0.50% per annum above the latest Overnight Bank Funding Rate; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) 0.50% per annum above Adjusted LIBOR applicable to the Interest Period for which the Base Rate is then being determined.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>&#147;</STRIKE></FONT><FONT
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STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT STYLE="font-family:Times New Roman"> </FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>(excluding such spread
adjustment) by the Relevant Governmental Body</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE> </STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE>or (ii)
any evolving or</STRIKE></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></FONT></FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>

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<FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE>then-prevailing market convention for determining a spread adjustment, or method for calculating or determining
such spread adjustment, for </STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>such replacement of Adjusted LIBOR or LMIR</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE> for U.S. dollar-denominated</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> credit facilities at such time and (b) which
may also reflect adjustments to account for (i) the effects of the transition from Adjusted LIBOR or LMIR to the Benchmark Replacement and (ii) yield-or risk-based differences between Adjusted LIBOR or LMIR and the Benchmark
Replacement.</STRIKE></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE>&#147;</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><strike><u>Benchmark Replacement Conforming Changes</u></strike></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE>&#148; means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of &#147;Base Rate,&#148;
the definition of &#147;Interest Period,&#148; timing and frequency of determining rates and making payments of interest</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> and other
administrative</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE> matters) that the Administrative Agent decides may be appropriate to reflect the adoption and implementation of such Benchmark
Replacement and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent decides that adoption of any portion of such market practice is not
administratively feasible or if the Administrative Agent determines that no market practice for the administration of </STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>the</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE> Benchmark Replacement exists, in such other manner of administration as the Administrative Agent decides is reasonably necessary in connection with the administration of
this Agreement</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>).</STRIKE></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE>&#147;</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><strike><u>Benchmark Replacement Date</u></strike></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE>&#148; means the </STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>earlier</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE> to occur of the following events with respect to </STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>Adjusted LIBOR or LMIR:</STRIKE></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>(1) </STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE>in the case of clause (1) or (2) of the definition of &#147;Benchmark Transition Event,&#148; the later of (a) the date of the public statement or publication of information
referenced therein and (b) the date on which the administrator of </STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>the London Interbank Offered Rate for interbank deposits in Dollars
(&#147;</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><strike><u>USD LIBOR</u></strike></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>&#148;</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE>) permanently or indefinitely ceases to provide </STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>USD LIBOR;
or</STRIKE></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>(2) in the case of clause (3) of the definition of &#147;Benchmark Transition Event,&#148;</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE> the date of the public statement or publication of information referenced
therein</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>.</STRIKE></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE>&#147;</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><strike><u>Benchmark Transition Event</u></strike></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE>&#148; means the occurrence of one or more
of the following events with respect to </STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>Adjusted LIBOR or LMIR:</STRIKE></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>(1) a public statement or publication of
information by or on behalf of the administrator of USD LIBOR announcing that such administrator has ceased or will cease to provide USD LIBOR</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE>,
permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> will continue to
provide USD LIBOR;</STRIKE></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>(2) a public statement or publication of information by a Governmental Authority having jurisdiction over the Administrative Agent, the regulatory supervisor for the
administrator of USD LIBOR, the U.S. Federal Reserve System</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE>, an insolvency official with jurisdiction over the administrator for </STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>USD LIBOR</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE>, a resolution authority with jurisdiction over the administrator
for </STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>USD LIBOR</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE> or a court or an entity with similar
insolvency or resolution authority over the administrator for </STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>USD LIBOR</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE>, which states that the administrator of </STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>USD LIBOR has ceased or will cease
to provide USD LIBOR</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE> permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that
will continue to provide</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> USD LIBOR; or</STRIKE></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>

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<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>(3)&nbsp;&nbsp;&nbsp;&nbsp;a public statement or publication
of information by the regulatory supervisor for the administrator of USD LIBOR or a Governmental Authority having jurisdiction over the Administrative Agent announcing that USD LIBOR is no longer representative.</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE>&#147;</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><strike><u>Benchmark Unavailability Period</u></strike></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE>&#148; means</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>, if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to Adjusted LIBOR or LMIR and solely to the extent that Adjusted
LIBOR or LMIR (as the case may be) has not been replaced with a Benchmark Replacement, the period</STRIKE></FONT><FONT STYLE="font-family:Times New Roman"> </FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE>(x)
beginning at the time that </STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>such</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE> Benchmark<FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"> Replacement Date has occurred if, at such time, no Benchmark Replacement has</FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000">
replaced</FONT></STRIKE><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> Adjusted LIBOR or LMIR (as the case may be)</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE>
for all purposes hereunder </STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>in accordance with</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE>
</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><strike><u>Section 5.06</u></strike></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE> and (y) ending at the time that a
Benchmark Replacement has replaced </STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>Adjusted LIBOR or
</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>L</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>M</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>I</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>R</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> </STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>(a</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>s</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> </STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>the</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> </STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>ca</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>se</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> </STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>m</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>a</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>y</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> </STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>b</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>e</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>)</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> </STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>f</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>or</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> </STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>a</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>ll</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> </STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>purpos</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>e</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>s</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> </STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>h</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>ere</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>und</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>e</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>r</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> </STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>pursu</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>a</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>nt</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> </STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>t</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>o</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> </STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><strike><u>Section 5.06</u></strike></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>.</STRIKE></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Borrowers</U>&#148; has the meaning specified in the <U>preamble</U> to this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Borrower Indemnified Amounts</U>&#148; has the meaning set forth in <U>Section</U><U></U><U> 13.01(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Borrower Indemnified Party</U>&#148; has the meaning set forth in <U>Section</U><U></U><U> 13.01(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Borrower Obligations</U>&#148; means all present and future indebtedness, reimbursement obligations, and other liabilities and
obligations (howsoever created, arising or evidenced, whether direct or indirect, absolute or contingent, or due or to become due) of the Borrowers to any Credit Party, Borrower Indemnified Party and/or any Affected Person, arising under or in
connection with this Agreement or any other Transaction Document or the transactions contemplated hereby or thereby, and shall include, without limitation, all Capital and Interest on the Loans, all Fees and all other amounts due or to become due
under the Transaction Documents (whether in respect of fees, costs, expenses, indemnifications or otherwise), including, without limitation, interest, fees and other obligations that accrue after the commencement of any Insolvency Proceeding with
respect to any Borrower (in each case whether or not allowed as a claim in such proceeding). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Borrowers&#146; Net Worth</U>&#148;
means, at any time of determination, an amount equal to (i) the aggregate Outstanding Balance of all Pool Receivables at such time (other than any Pool Receivables that constitute Defaulted Receivables at such time), <U>minus</U> (ii) the sum of (A)
the Aggregate Capital at such time, <U>plus</U> (B) the Aggregate Interest at such time, <U>plus</U> (C) the aggregate accrued and unpaid Fees at such time, <U>plus</U> (D) the aggregate outstanding principal balance owing under each Intercompany
Loan Agreement at such time, <U>plus</U> (E) the aggregate accrued and unpaid interest owing under each Intercompany Loan Agreement at such time, <U>plus</U> (F) without duplication, the aggregate accrued and unpaid other Borrower Obligations at
such time. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Change in Law</U>&#148; means the occurrence, after the Closing Date, of any of the
following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any Governmental Authority
or (c) the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority; <U>provided</U> that notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street
Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel
Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to the agreements reached by the Basel Committee on Banking Supervision in &#147;Basel III: A
Global Regulatory Framework for More Resilient Banks and Banking Systems&#148; (as amended, supplemented or otherwise modified or replaced from time to time), shall in each case be deemed to be a &#147;Change in Law&#148;, regardless of the date
enacted, adopted or issued. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Closing Date</U>&#148; means December 18, 2018. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Code</U>&#148; means the Internal Revenue Code of 1986, as amended, reformed or otherwise modified from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Collateral</U>&#148; has the meaning set forth in <U>Section</U><U></U><U> 5.05(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>C</U><U>oll</U><U>ec</U><U>tion</U><U> </U><U>A</U><U>cc</U><U>ount</U>&#148; means each account listed on
<U>S</U><U>c</U><U>h</U><U>e</U><U>dule</U><U> </U><U>I</U><U>I</U> to this Agreement (as such schedule may be modified from time to time in connection with the closing or opening of any Collection Account in accordance with the terms hereof) (in
each case, in the name of a Borrower) and<FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>,</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> on</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> a</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>nd</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> af</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>t</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>e</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>r</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> the</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> P</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>os</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>t</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>-</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>Cl</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>os</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>i</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>ng</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> D</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>a</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>t</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>e</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>,</STRIKE></FONT><FONT STYLE="font-family:Times New Roman"> maintained at
a bank or other financial institution acting as a Collection Account Bank pursuant to an Account Control Agreement for the purpose of receiving
Collections;</FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> provided, however, that the Approved Account need not (i) be subject to an Account Control
Agreement or (ii) be in the name of the Borrower, in each case, prior to the Post-Closing Date</U></FONT><FONT STYLE="font-family:Times New Roman">. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Collection Account Bank</U>&#148; means any of the banks or other financial institutions holding one or more Collection Accounts.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Collections</U>&#148; means, with respect to any Pool Receivable: (a) all funds that are received by any Originator, any
Borrower, the Servicer or any other Person on their behalf in payment of any amounts owed in respect of such Pool Receivable (including purchase price, service charges, finance charges, interest, fees and all other charges), or applied to amounts
owed in respect of such Pool Receivable (including insurance payments, proceeds of drawings under supporting letters of credit and net proceeds of the sale or other disposition of repossessed goods or other collateral or property of any related
Obligor or any other Person directly or indirectly liable for the payment of such Pool Receivable and available to be applied thereon), (b) all Deemed Collections, (c) all proceeds of all Related Security with respect to such Pool Receivable and (d)
all other proceeds of such Pool Receivable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Commingling Report</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>
9.04(d)</U>. amount of dilution and Deemed Collections that occur with respect to Pool Receivables based on the weighted average dilution lag calculation completed as part of such audit or field exam. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Dilution Ratio</U>&#148; means, for any Fiscal Month, the ratio (expressed as a
percentage and rounded to the nearest 1/100th of 1%, with 5/1000th of 1% rounded upward), computed as of the last day of each Fiscal Month by <U>dividing</U>: (a) the aggregate amount of Deemed Collections during such Fiscal Month, <U>by</U> (b) the
aggregate sales made by the Originators during the Fiscal Month that is one month prior to such Fiscal Month. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Dilution Reserve
Percentage</U>&#148; means, at any time of determination, the product (expressed as a percentage and rounded to the nearest 1/100th of 1%, with 5/1000th of 1% rounded upward) of (a) the Dilution Horizon Ratio, <U>multiplied</U> <U>by</U> (b) the sum
of (i) 2.25 times the average of the Dilution Ratios for the twelve most recent Fiscal Months and (ii) the Dilution Volatility Component. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Dilution Volatility Component</U>&#148; means, for any Fiscal Month, the product (expressed as a percentage and rounded to the
nearest 1/100th of 1%, with 5/1000th of 1% rounded upward) of: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) the positive difference, if any, between: (i) the
highest Dilution Ratio for any Fiscal Month (excluding each Excluded Fiscal Month) during the twelve (12) most recent Fiscal Months and (ii) the arithmetic average of the Dilution Ratios for such twelve (12) Fiscal Months (which average shall be
calculated excluding the Dilution Ratio for each Excluded Fiscal Month); <U>multiplied</U> <U>by</U> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) the quotient of
(i) the highest Dilution Ratio for any Fiscal Month (excluding each Excluded Fiscal Month) during the twelve (12) most recent Fiscal Months, <U>divided</U> <U>by</U> (ii) the arithmetic average of the Dilution Ratios for such twelve (12) Fiscal
Months (which average shall be calculated excluding the Dilution Ratio for each Excluded Fiscal Month). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Doll</U><U>ar</U><U>s</U>&#148; and &#147;<U>$</U>&#148; each mean the lawful currency of the United States of America. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>&#147;</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><strike><u>Early Opt-in Event</u></strike></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>&#148; means the occurrence of :</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman"> </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>(1) a
determination by the Administrative Agent and/or the Borrowers that U.S. dollar-denominated credit facilities being executed at such time, or that include language similar to that contained in </STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><strike><u>Section&nbsp;5.06</u></strike></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>, are being executed or amended, as applicable, to
incorporate or adopt a new benchmark interest rate to replace USD LIBOR; and</STRIKE></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>(2) the election by the Administrative Agent and/or the
Borrowers to declare that an Early Opt-in Event has occurred and the provision, as applicable, by the Administrative Agent of written notice of such election to the Borrowers and the Lenders, or by the Borrowers of written notice of such election to
the Administrative Agent and the Lenders.</STRIKE></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Eligible
Assignee</U>&#148; means (i) any Lender or any of its Affiliates, (ii) any Person managed by a Lender or any of its Affiliates and (iii) any other financial or other institution; <U>provided</U>, that no Defaulting Lender shall be an &#147;Eligible
Assignee.&#148; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Eligible Foreign Obligor</U>&#148; means an Obligor which is neither a U.S. Obligor
nor a Sanctioned Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Eligible Receivable</U>&#148; means, at any time of determination, a Pool Receivable: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) each Obligor of which is: (i) either a U.S. Obligor or an Eligible Foreign Obligor; (ii) not a Sanctioned Person; (iii) not
subject to any Insolvency Proceeding; (iv) not an Affiliate of any Lamar Party; (v) not the Obligor with respect to Delinquent Receivables with an aggregate Outstanding Balance exceeding 50% of the aggregate Outstanding Balance of all such
Obligor&#146;s Pool Receivables; (vi) not a natural person; (vii) not a material supplier to any Originator or an Affiliate of a material supplier and (viii) not a Subject Obligor; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) for which an Insolvency Proceeding shall not have occurred with respect to the Obligor thereof or any other Person
obligated thereon or owning any Related Security with respect thereto; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) that is denominated and payable only in Dollars
in the United States of America, and <FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(I) </U></FONT><FONT STYLE="font-family:Times New Roman">each Obligor with respect
to which has been instructed to remit Collections in respect thereof directly to (i) a Lock-Box or Collection Account in the United States of America or (ii) so long as the Mail-Box Eligibility Condition is then satisfied, a Mail-Box in the United
States of America</FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> and (II) no Obligor with respect to which has been instructed to remit Collections in respect
thereof directly to the Approved Account</U></FONT><FONT STYLE="font-family:Times New Roman">; </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) that does not
have a due date which is more than 30 days after the original invoice date of such Receivable; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) that (i) arises under a
Contract for the sale of goods or services in the ordinary course of the applicable Originator&#146;s business and (ii) does not constitute a loan or other similar financial accommodation being provided by the applicable Originator; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) that arises under a duly authorized Contract that (i) is in full force and effect, (ii) is governed by the law of the
United States of America or of any State thereof, (iii) is a legal, valid and binding obligation of (A) the related Advertiser Obligor and (B) to the extent such Receivable is an Agency Receivable, the related Agency Obligor, in each case as
applicable, enforceable against such Obligor in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors&#146; rights
generally and by general principles of equity regardless of whether enforceability is considered in a proceeding in equity or at law and (iv) the payments thereunder are free and clear of any withholding Taxes; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) that does not arise under a Contract as to which any rights (including, without limitation, rights to payment) have been
assigned to, or are subject to assignment by, any third party (other than in accordance with the Transaction Documents); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Originator reasonably believes that it will be able to perform all of its obligations with respect to such
Unperformed Receivable under and in accordance with the related Contract, (d) the related Originator has recognized a portion of the related revenue on its financial books and records in accordance with GAAP and (e) the related Originator is not
required to maintain the posting of the related advertisement for such Unperformed Receivable for a period of time in excess of 30 days before such Unperformed Receivable will cease constituting an Unperformed Receivable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>ERISA</U>&#148; means the Employee Retirement Income Security Act of 1974, as amended from time to time, and any rule or regulation
issued thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>ERISA Affiliate</U>&#148; means, with respect to any Person, any corporation, trade or business which
together with the Person is a member of a controlled group of corporations or a controlled group of trades or businesses and would be deemed a &#147;single employer&#148; within the meaning of Sections 414(b), (c) or (m) of the Code or Section
4001(b) of ERISA. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&#147;Erroneous
 Payment&#148; has the meaning set forth in Section 11.11.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&#147;Erroneous Payment Notice&#148; has the meaning set forth in Section 11.11.</U></FONT><FONT
STYLE="font-family:Times New Roman"> </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Euro-Rate Reserve Percentage</U>&#148; means, the maximum effective percentage in
effect on such day as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the reserve requirements (including without limitation, supplemental, marginal, and emergency reserve requirements) with
respect to eurocurrency funding (currently referred to as &#147;Eurocurrency Liabilities&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Event of Default</U>&#148; has
the meaning specified in <U>Section</U><U></U><U> 10.01</U>. For the avoidance of doubt, any Event of Default that occurs shall be deemed to be continuing at all times thereafter unless and until waived in accordance with <U>Section</U><U></U><U>
14.01</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Excess Concentration</U>&#148; means the sum of the following amounts, without duplication: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) &nbsp;&nbsp;&nbsp;&nbsp;the sum of the amounts calculated for each of the Applicable Obligors equal to the excess (if any)
of (i) the aggregate Outstanding Balance of the Eligible Receivables of such Applicable Obligor, <U>over</U> (ii) the product of (x) such Applicable Obligor&#146;s Concentration Percentage, <U>multiplied</U> <U>by</U> (y) the aggregate Outstanding
Balance of all Eligible Receivables then in the Receivables Pool; <U>plus</U> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) &nbsp;&nbsp;&nbsp;&nbsp;the excess (if
any) of (i) the aggregate Outstanding Balance of all Eligible Receivables that have remained unpaid for more than 60 days but less than 91 days after the original due date of such Receivable, <U>over</U> (ii) the product of (x) 30.0%,
<U>multiplied</U> <U>by</U> (y) the aggregate sales made by the Originators during the month that is three (3) Fiscal Months before the then-current Fiscal Month as of the date of determination; <U>plus</U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) &nbsp;&nbsp;&nbsp;&nbsp;the excess (if any) of (i) the aggregate Outstanding Balance of all Eligible Receivables that have
remained unpaid for more than 90 days but less than 121 days after the original due date of such Receivable, <U>over</U> (ii) the product of (x) 15.0%, <U>multiplied by</U> (y) the aggregate sales made by the Originators during the month that is
four (4) Fiscal Months before the then-current Fiscal Month as of the date of determination; <U>plus</U> time of determination, an amount equal to (x) the Facility Limit at such time, <U>minus</U> (y) the Aggregate Capital at such time. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>FATCA</U>&#148; means Sections 1471 through 1474 of the Code, as of the date of
this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to
Section 1471(b)(1) of the Code, any applicable intergovernmental agreement entered into between the United States and any other Governmental Authority in connection with the implementation of the foregoing and any fiscal or regulatory legislation,
rules or official practices adopted pursuant to any such intergovernmental agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Federal Reserve Board</U>&#148; means the
Board of Governors of the Federal Reserve System, or any entity succeeding to any of its principal functions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Fee
Letter</U>&#148; has the meaning specified in <U>Section</U><U></U><U> 2.03(a)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Fees</U>&#148; has the meaning specified in
<U>Section</U><U></U><U> 2.03(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Fifth
Amendment Effective Date&#148; means May 24, 2021.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&#147;</U></FONT><FONT STYLE="font-family:Times New Roman"><U>Final Maturity Date</U>&#148; means the date that (i) is one
hundred eighty (180) days following the Termination Date or (ii) such earlier date on which the Aggregate Capital and all other Borrower Obligations become due and payable pursuant to <U>Section</U><U></U><U> 10.01</U>. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Final Payout Date</U>&#148; means the date on or after the Termination Date when (i) the Aggregate Capital and Aggregate Interest
have been paid in full, (ii) all Borrower Obligations shall have been paid in full, (iii) all other amounts owing to the Credit Parties and any other Borrower Indemnified Party or Affected Person hereunder and under the other Transaction Documents
have been paid in full and (iv) all accrued Servicing Fees have been paid in full. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Financial Covenant Event</U>&#148; shall be
deemed to have occurred if, at any time, the Secured Debt Ratio exceeds 4.50 to 1.00. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Financial Officer</U>&#148; of any Person
means, the chief executive officer, the chief financial officer, the chief accounting officer, the principal accounting officer, the controller, the treasurer or the assistant treasurer of such Person. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>First Amendment Effective Date</U>&#148; means February 6, 2020. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Fiscal Month</U>&#148; means each calendar month. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>GAAP</U>&#148; means generally accepted accounting principles in the United States of America, consistently applied. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Governmental Authority</U>&#148; means the government of the United States of America or any other nation, or of any political
subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) the ability of the Borrowers, the Servicer, the Performance Guarantor or
any Originator to perform its obligations under this Agreement or any other Transaction Document to which it is a party; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) the validity or enforceability of this Agreement or any other Transaction Document, or the validity, enforceability, value
or collectibility of any material portion of the Pool Receivables; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) the status, perfection, enforceability or priority
of the Administrative Agent&#146;s security interest in any material portion of the Collateral; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) the rights and
remedies of any Credit Party under the Transaction Documents or associated with its respective interest in the Collateral. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Material Indebtedness</U>&#148; shall mean (i) Debt under the Credit Agreement and (ii) Debt of any one or more of Holdings, the
Lamar Parties or any Subsidiary thereof in an aggregate principal amount exceeding $100,000,000. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Minimum Dilution Reserve
Percentage</U>&#148; means, at any time of determination, the product (expressed as a percentage and rounded to the nearest 1/100th of 1%, with 5/1000th of 1% rounded upward) of (a) the average of the Dilution Ratios for the twelve (12) most recent
Fiscal Months, <U>multiplied by</U> (b) the Dilution Horizon Ratio. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>M</U><U>i</U><U>nimum</U><U> </U><U>F</U><U>unding</U><U>
</U><U>Th</U><U>re</U><U>sho</U><U>l</U><U>d</U>&#148; means, on any day, an amount equal to the lesser of (a) the product of (i) <FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>70.00</STRIKE></FONT><FONT
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STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">provided, however, that on any day that is a Minimum Funding Threshold Holiday, the Minimum Funding Threshold shall be zero
($0).</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&#147;Minimum Funding
 Threshold Holiday&#148; means any day (or period of days) designated as a Minimum Funding Threshold Holiday by the Borrowers in writing</U></FONT><FONT STYLE="font-family:Times New Roman"> to the Administrative Agent</FONT><FONT
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STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">; provided, however, that the Borrowers shall not designate more than sixty (60) days as Minimum Funding Threshold Holidays
in any calendar year.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Monthly Settlement Date</U>&#148; means the
25th day of each calendar month (or if such day is not a Business Day, the next occurring Business Day). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Moody&#146;s</U>&#148;
means Moody&#146;s Investors Service, Inc. and any successor thereto that is a nationally recognized statistical rating organization. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Multiemployer Plan</U>&#148; means a multiemployer plan as defined in Section 4001(a)(3) of ERISA to which any Lamar Party or any of
their respective ERISA Affiliates is making or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">26 </P>

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or foreclosure proceeding shall have been commenced or threatened and the use and value of the property to which the liens attach are not impaired during the pendency of such proceedings, (iii)
as to which no enforcement action, execution, levy or foreclosure proceeding shall have been commenced or threatened and that secure the payment of taxes, assessments or governmental charges or levies, if any only to the extent the same are either
(x) not yet due and payable or (y) being contested in good faith and as to which adequate reserves have been provided in accordance with GAAP or (iv) solely with respect to any Adverse Claim in respect of Related Security constituting goods (but not
proceeds thereof), any Adverse Claim as to which no enforcement action, execution, levy or foreclosure proceeding shall have been commenced or threatened and that only secures the payment of taxes, assessments and governmental charges or levies, to
the extent the same are Adverse Claims imposed by law, such as landlord&#146;s, carrier&#146;s, warehousemen&#146;s and mechanic&#146;s liens and other similar liens that (a) arise in the ordinary course of business, (b) do not constitute consensual
claims of ownership or liens granted by any Person and (c) secure obligations that are either not yet due and payable or that are being contested in good faith and as to which adequate reserves have been provided in accordance with GAAP. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permitted Disbursements</U>&#148; means any check or other payment order drawn on or payable against any Collection Account that is
issued prior to the Closing Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Person</U>&#148; means an individual, partnership, corporation (including a business trust),
joint stock company, trust, unincorporated association, joint venture, limited liability company or other entity, or any Governmental Authority. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>PNC</U>&#148; has the meaning set forth in the <U>preamble</U> to this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Pool Receivable</U>&#148; means a Receivable in the Receivables Pool. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Portion of Capital</U>&#148; means, with respect to any Lender and its related Capital, the portion of such Capital being funded or
maintained by such Lender by reference to a particular interest rate basis. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>P</U><U>os</U><U>t</U><U>-</U><U>C</U><U>los</U><U>i</U><U>ng</U><U> </U><U>D</U><U>a</U><U>t</U><U>e</U>&#148; means the date
occurring <FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>t</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>e</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>n</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> (</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>10)</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> B</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>us</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>i</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>n</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>e</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>ss</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> D</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>a</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>y</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>s</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">ninety (90) days</U></FONT><FONT STYLE="font-family:Times New Roman"> following the </FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>C</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>los</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>i</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>n</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>g</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Fifth Amendment
Effective</U></FONT><FONT STYLE="font-family:Times New Roman"> Date (or such later date as the Administrative Agent shall consent to in writing). </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchase and Sale Agreement</U>&#148; means each of the QRS Purchase and Sale Agreement and the TRS Purchase and Sale Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchase and Sale Termination Event</U>&#148; has the meaning set forth in the applicable Purchase and Sale Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>QRS Borrower</U>&#148; has the meaning specified in the <U>preamble</U> to this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>QRS Purchase and Sale Agreement</U>&#148; means the Purchase and Sale Agreement, dated as of the Closing Date, among the Servicer,
the QRS Originators and the QRS Borrower, as such agreement may be amended, supplemented or otherwise modified from time to time. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">29 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Related Rights</U>&#148; has the meaning set forth in <U>Section</U><U></U><U>
1.1</U> of the Purchase and Sale Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Related Security</U>&#148; means, with respect to any Receivable: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) all of the applicable Borrower&#146;s and each Originator&#146;s interest in any goods (including Returned Goods), and
documentation of title evidencing the shipment or storage of any goods (including Returned Goods), the sale of which gave rise to such Receivable; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) all instruments and chattel paper that may evidence such Receivable; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) all other security interests or liens and property subject thereto from time to time purporting to secure payment of such
Receivable, whether pursuant to the Contract related to such Receivable or otherwise, together with all UCC financing statements or similar filings relating thereto; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) all of the applicable Borrower&#146;s and each Originator&#146;s rights, interests and claims under the related Contracts
and all guaranties, indemnities, insurance and other agreements (including the related Contract) or arrangements of whatever character from time to time supporting or securing payment of such Receivable or otherwise relating to such Receivable,
whether pursuant to the Contract related to such Receivable or otherwise; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) all books and records of each Borrower and
each Originator to the extent related to any of the foregoing, and all rights, remedies, powers, privileges, title and interest (but not obligations) in and to each Lock-Box and all Collection Accounts, into which any Collections or other proceeds
with respect to such Receivables may be deposited, and any related investment property acquired with any such Collections or other proceeds (as such term is defined in the applicable UCC); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) all of the applicable Borrower&#146;s rights, interests and claims under the applicable Purchase and Sale Agreement and the
other Transaction Documents; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) all Collections and other proceeds (as defined in the UCC) of any of the foregoing.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Release</U>&#148; has the meaning set forth in <U>Section</U><U></U><U> 4.01(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE>&#147;</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><strike><u>Relevant Governmental Body</u></strike></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE>&#148; means the Federal Reserve Board
</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>and/</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE>or the Federal Reserve Bank of New York, or a
committee officially endorsed or convened by the Federal Reserve Board </STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>and/or the Federal Reserve Bank of New York or any successor
thereto.</STRIKE></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Reportable Compliance Event</U>&#148; means that any
Covered Entity becomes a Sanctioned Person, or is charged by indictment, criminal complaint or similar charging instrument, arraigned, or custodially detained in connection with any <FONT STYLE="white-space:nowrap">Anti-Terrorism</FONT> Law or any
predicate crime to any Anti-Terrorism Law, or has knowledge of facts or circumstances to the effect that it is reasonably likely that any aspect of its operations is in actual or probable violation of any
<FONT STYLE="white-space:nowrap">Anti-Terrorism</FONT> Law. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">31 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Reportable Event</U>&#148; means any reportable event as defined in Section 4043(c)
of ERISA or the regulations issued thereunder with respect to a Pension Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Representatives</U>&#148; has the meaning set
forth in <U>Section</U><U></U><U> 14.06(c)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Required Capital Amount</U>&#148; means, as of any date of determination, an
amount equal to the product of (i) the Loss Reserve Percentage at such time <U>times</U> (ii) the Net Receivables Pool Balance at such time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Restricted Payments</U>&#148; has the meaning set forth in <U>Section</U><U></U><U> 8.01(r)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Returned Goods</U>&#148; means all right, title and interest in and to returned, repossessed or foreclosed goods and/or merchandise
the sale of which gave rise to a Receivable; <U>provided</U> that such goods shall no longer constitute Returned Goods after a Deemed Collection has been deposited in a Collection Account with respect to the full Outstanding Balance of the related
Receivables. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>S&amp;P</U>&#148; means Standard &amp; Poor&#146;s Rating Services, a Standard &amp; Poor&#146;s Financial Services
LLC business, and any successor thereto that is a nationally recognized statistical rating organization. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sanctioned
Country</U>&#148; means a country subject to a sanctions program maintained under any Anti-Terrorism Law, including any such country identified on the list maintained by OFAC and available at:
<FONT STYLE="white-space:nowrap">http://www.treasury.gov/resource-center/sanctions/Programs/</FONT> Pages/Programs.aspx, or as otherwise published from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sanctioned Person</U>&#148; means (i) A person named on the list of &#147;Specially Designated Nationals&#148; or &#147;Blocked
Persons&#148; maintained by OFAC available at: http://www.treasury.gov/ <FONT STYLE="white-space:nowrap">resource-center/sanctions/SDN-List/Pages/default.aspx,</FONT> or as otherwise published from time to time, (ii) (A) an agency of the government
of a Sanctioned Country, (B) an organization controlled by a Sanctioned Country or (C) a person resident in a Sanctioned Country, to the extent subject to a sanctions program administered by OFAC, or (iii) any individual person, group, regime,
entity or thing listed or otherwise recognized as a specially designated, prohibited, sanctioned or debarred person, group, regime, entity or thing, or subject to any limitations or prohibitions (including but not limited to the blocking of property
or rejection of transactions), under any Anti-Terrorism Law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>S</U><U>c</U><U>h</U><U>e</U><U>du</U><U>l</U><U>e</U><U>d
T</U><U>er</U><U>min</U><U>a</U><U>tion D</U><U>a</U><U>t</U><U>e</U>&#148; means <FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>Dece</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>m</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>b</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>e</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>r</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> 17,</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> 2021.</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">July 21, 2024.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>SEC</U>&#148; means the U.S. Securities and Exchange Commission or any governmental agencies substituted therefor. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Secured Debt Ratio</U>&#148; shall (along with each defined term constituting a component thereof) have the meaning assigned to the
term &#147;Secured Debt Ratio&#148; in the Credit Agreement as in effect on the First Amendment Effective Date and without giving effect to any amendment, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">32 </P>

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have occurred and be continuing, segregate in a separate account designated by the Administrative Agent, which shall be an account maintained and controlled by the Administrative Agent unless the
Administrative Agent otherwise instructs in its sole discretion), for application in accordance with the priority of payments set forth below, all Collections on Pool Receivables that are received by the Servicer or the Borrowers or received in any
Lock-Box, Mail-Box<FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>,</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> App</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>r</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>ov</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>e</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>d</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE></STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> A</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>cc</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>ount</STRIKE></FONT><FONT STYLE="font-family:Times New Roman"> or Collection Account; <U>p</U><U>r</U><U>ovid</U><U>e</U><U>d</U>, <U>how</U><U>e</U><U>v</U><U>er</U>, that
so long as each of the conditions precedent set forth in <U>S</U><U>ec</U><U>t</U><U>i</U><U>on</U><U></U><U> 6.03</U> are satisfied on such date, the Servicer may release to the Borrowers from such Collections the amount (if any) necessary to pay
(i) the purchase price for Receivables purchased by the Borrowers on such date in accordance with the terms of the applicable Purchase and Sale Agreement or (ii) amounts owing by the Borrowers to the Originators under any Intercompany Loan Agreement
(each such release, a &#147;<U>R</U><U>e</U><U>l</U><U>ea</U><U>s</U><U>e</U>&#148;). On each Settlement Date, the Servicer (or, following its assumption of control of the Collection Accounts, the Administrative Agent) shall, distribute such
Collections in the following order of priority: </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i) <U>first</U>, to the Servicer for the payment of the accrued
Servicing Fees payable for the immediately preceding Interest Period (plus, if applicable, the amount of Servicing Fees payable for any prior Interest Period to the extent such amount has not been distributed to the Servicer); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ii) <U>second</U>, to each Lender and other Credit Party (ratably, based on the amount then due and owing), all accrued and
unpaid Interest, Fees and Breakage Fees due to such Lender and other Credit Party for the immediately preceding Interest Period (including any additional amounts or indemnified amounts payable under <U>Sections 5.03</U> and <U>13.01</U> in respect
of such payments), plus, if applicable, the amount of any such Interest, Fees and Breakage Fees (including any additional amounts or indemnified amounts payable under <U>Sections 5.03</U> and <U>13.01</U> in respect of such payments) payable for any
prior Interest Period to the extent such amount has not been distributed to such Lender or Credit Party; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii)
<U>third</U>, as set forth in <U>clause (x)</U>, <U>(y)</U> or <U>(z)</U> below, as applicable: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) prior to the
occurrence of the Termination Date, to the extent that a Borrowing Base Deficit exists on such date, to the Lenders (ratably, based on the aggregate outstanding Capital of each Lender at such time) for the payment of a portion of the outstanding
Aggregate Capital at such time, in an aggregate amount equal to the amount necessary to reduce the Borrowing Base Deficit to zero ($0); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(y) on and after the occurrence of the Termination Date, to each Lender (ratably, based on the aggregate outstanding Capital
of each Lender at such time) for the payment in full of the aggregate outstanding Capital of such Lender at such time; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(z) prior to the occurrence of the Termination Date, at the election of the Borrowers and in accordance with
<U>Section</U><U></U><U> 2.02(d)</U>, to the payment of all or any portion of the outstanding Capital of the Lenders at </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">46 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">available to the Administrative Agent (for the benefit of the Secured Parties), all the rights and remedies
of a secured party under any applicable UCC. Each Borrower hereby authorizes the Administrative Agent to file financing statements describing as the collateral covered thereby as &#147;all of the debtor&#146;s personal property or assets&#148; or
words to that effect, notwithstanding that such wording may be broader in scope than the collateral described in this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c)
Immediately upon the occurrence of the Final Payout Date, the Collateral shall be automatically released from the lien created hereby, and this Agreement and all obligations (other than those expressly stated to survive such termination) of the
Administrative Agent, the Lenders and the other Credit Parties hereunder shall terminate, all without delivery of any instrument or performance of any act by any party, and all rights to the Collateral shall revert to the Borrowers; <U>provided</U>,
<U>however</U>, that promptly following written request therefor by any Borrower delivered to the Administrative Agent following any such termination, and at the expense of the Borrowers, the Administrative Agent shall execute and deliver to such
Borrower <FONT STYLE="white-space:nowrap">UCC-3</FONT> termination statements and such other documents as such Borrower shall reasonably request to evidence such termination. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 5.06.<FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> </STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff4338"><strike><u>Successor Adjusted LIBOR or
LMIR</u></strike></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> Benchmark Replacement Setting.</U></FONT><FONT STYLE="font-family:Times New Roman">
</FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) <U>Benchmark Replacement</U>. Notwithstanding anything to the contrary herein or in any other Transaction Document, if<FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> the Administrative Agent determines that</STRIKE></FONT><FONT STYLE="font-family:Times New Roman"> a Benchmark Transition Event or an Early
<FONT STYLE="white-space:nowrap">Opt-in</FONT> </FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>Event has occurred, the Administrative Agent and the Borrowers may amend this Agreement to replace Adjusted LIBOR
or LMIR with a Benchmark Replacement; and any such amendment will become effective at</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Election, as
applicable, and its related Benchmark Replacement Date have occurred prior to the Reference Time in respect of any setting of the then-current Benchmark, then (x) if
a</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> Benchmark Replacement is </U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">determined in accordance with clause (1)&nbsp;or (2) of the definition of &#147;Benchmark Replacement&#148; for such
Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Transaction Document in respect of such Benchmark setting and subsequent Benchmark settings without any amendment to, or
further action or consent of any other party to, this Agreement or any other Transaction Document and (y) if a Benchmark Replacement is determined in accordance with clause (3)&nbsp;of the definition of &#147;Benchmark Replacement&#148; for such
Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Transaction Document in respect of any Benchmark setting at or after</U></FONT><FONT STYLE="font-family:Times New Roman">
5:00 p.m. </FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(</U></FONT><FONT STYLE="font-family:Times New Roman">New York City time</FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">)</U></FONT><FONT STYLE="font-family:Times New Roman"> on the fifth (5th) Business Day after the </FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>Administrative Agent has provided such proposed amendment to all</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE>
Lenders,</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">date notice of such Benchmark Replacement is provided to the Lenders without any amendment to,
or further action or consent of any other party to, this Agreement or any other Transaction Document</U></FONT><FONT STYLE="font-family:Times New Roman"> so long as the Administrative Agent has not received, by such time, written notice of objection
to such
</FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>amendment</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Benchmark
 Replacement</U></FONT><FONT STYLE="font-family:Times New Roman"> from Lenders comprising the Majority Lenders.</FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> Until the</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE> Benchmark Replacement is</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE> </STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>effective, each advance, conversion and renewal of a Loan bearing interest by reference to Adjusted LIBOR or LMIR will continue to bear interest with reference to Adjusted
LIBOR or LMIR (as the case may be); </STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff4338"><strike><u>provided,
however</u></strike></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>, that during a Benchmark Unavailability Period (i) any pending selection of, conversion to or renewal of a Loan bearing interest by
reference to Adjusted LIBOR or LMIR that has not yet gone into effect shall be deemed to be a selection of, conversion to or renewal of the Base Rate with respect to such Loan, and such Loan shall bear interest by reference to the


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</STRIKE></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">56 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
<FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>Base Rate (rather than by reference to Adjusted LIBOR or LMIR), and (ii)&nbsp;all outstanding Loans bearing
interest by reference to Adjusted LIBOR or LMIR shall automatically be converted to bear interest by reference to the Base Rate.</STRIKE></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) <U>Benchmark Replacement Conforming Changes</U>. In connection with the implementation of a Benchmark Replacement, the Administrative
Agent will have the right to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Transaction Document, any amendments implementing such Benchmark Replacement Conforming
Changes will become effective without any further action or consent of any other party to this Agreement<FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>.</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> or any other Transaction Document.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) <U>Notices; Standards for Decisions and Determinations</U>. The Administrative Agent will promptly notify the Borrowers and the Lenders of
(i) <FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">any occurrence of a Benchmark Transition Event, a Term SOFR Transition Event o</U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">r</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">
</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">an Early Opt-in
Election</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">, as applicable, and its related Benchmark Replacement Date, (ii) </U></FONT><FONT
STYLE="font-family:Times New Roman">the implementation of any Benchmark Replacement, (</FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>ii</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">iii</U></FONT><FONT STYLE="font-family:Times New Roman">) the effectiveness of any Benchmark Replacement Conforming Changes,
(</FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>iii</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">iv</U></FONT>
<FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">) the removal or reinstatement of any tenor of a Benchmark pursuant to clause (d) below and (v</U></FONT><FONT
STYLE="font-family:Times New Roman">) the commencement or conclusion of any Benchmark Unavailability Period</FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>,</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> </STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>and (iv) any occurrence of</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE> an Early <FONT STYLE="white-space:nowrap">Opt-in</FONT> Election</STRIKE></FONT><FONT STYLE="font-family:Times New Roman">. Any determination, decision or election that may
be made by the Administrative Agent or</FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>
the</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">, if applicable, any Lender (or group of</U></FONT><FONT STYLE="font-family:Times New Roman">
Lenders</FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">)</U></FONT><FONT STYLE="font-family:Times New Roman"> pursuant to this <U>Section&nbsp;5.06</U>
including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action</FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> or any selection</U></FONT><FONT STYLE="font-family:Times New Roman">, will be conclusive and binding absent manifest error
and may be made in its or their sole discretion and without consent from any other party </FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>hereto</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">to this Agreement or any other Transaction Document</U></FONT><FONT STYLE="font-family:Times New Roman">, except, in each
case, as expressly required pursuant to this <U>Section 5.06</U>. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(d)</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Unavailability of Tenor of Benchmark. Notwithstanding anything to the contrary herein or in any other Transaction Document,
at any time (including in connection with the implementation of a Benchmark Replacement), (i) if the then-current Benchmark is a term rate (including Term SOFR or USD LIBOR ) and either (A)&nbsp;any tenor for such Benchmark is not displayed on a
screen or other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion or (B) the regulatory supervisor for the administrator of such Benchmark has provided a public
statement or publication of information announcing that any tenor for such Benchmark is or will be no longer representative, then the Administrative Agent may modify the definition of &#147;Interest Period&#148; for any Benchmark settings at or
after such time to remove such unavailable or non-representative tenor and (ii) if a tenor that was removed pursuant to clause (i) above either (A) is subsequently displayed on a screen or information service for a Benchmark (including a Benchmark
Replacement) or (B)&nbsp;is not, or is no longer, subject to an announcement that it is or will no longer be representative for a Benchmark (including a Benchmark Replacement), then the Administrative Agent may modify the definition of
&#147;Interest Period&#148; for all Benchmark settings at or after such time to reinstate such previously removed tenor.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(e)</U></FONT>
<FONT STYLE="font-family:Times New Roman"> </FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Benchmark Unavailability Period. Upon the Borrowers&#146; receipt of
notice of the commencement of a Benchmark Unavailability Period, the Borrowers may revoke any</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">57 </P>

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<FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">request for a Loan bearing interest based on USD LIBOR,
conversion to or continuation of Loans bearing interest based on USD LIBOR to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the applicable Borrower will be deemed to have converted any such request
into a request for a Loan of or conversion to Loans bearing interest under the Base Rate. During any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate
based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(f)</U></FONT>
<FONT STYLE="font-family:Times New Roman"> </FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Secondary Term SOFR Conversion. Notwithstanding anything to the
contrary herein or in any other Transaction Document and subject to the proviso below in this paragraph, if a Term SOFR Transition Event and its related Benchmark Replacement Date have occurred prior to the Reference Time in respect of any setting
of the then-current Benchmark, then (i) the applicable Benchmark Replacement will replace the then-current Benchmark for all purposes hereunder or under any Transaction Document in respect of such Benchmark setting (the &#147;Secondary Term SOFR
Conversion Date&#148;) and subsequent Benchmark settings, without any amendment to, or further action or consent of any other party to, this Agreement or any other Transaction Document; and (ii) Loans outstanding on the Secondary Term SOFR
Conversion Date bearing interest based on the then-current Benchmark shall be deemed to have been converted to Loans bearing interest at the Benchmark Replacement with a tenor approximately the same length as the interest payment period of the
then-current Benchmark; provided that, this paragraph (f) shall not be effective unless the Administrative Agent has delivered to the Lenders and the Borrowers a Term SOFR Notice.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(g)</U></FONT>
<FONT STYLE="font-family:Times New Roman"> </FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Certain Defined Terms. As used in this Section&nbsp;5.06:</U></FONT><FONT
STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Available Tenor&#148; means, as of any date of determination and with respect to the then-current Benchmark, as applicable, (x) if the then current Benchmark is a term rate or is based
on a term rate, any tenor for such Benchmark that is or may be used for determining the length of an Interest Period pursuant to this Agreement as of such date and not including, for the avoidance of doubt, any tenor for such Benchmark that is
then-removed from the definition of &#147;Interest Period&#148; pursuant to paragraph (d) of this Section 5.06 or (y) if the then current Benchmark is not a term rate nor based on a term rate, any payment period for interest calculated with
reference to such Benchmark pursuant to this Agreement as of such date. For the avoidance of doubt, the Available Tenor for LMIR is one month.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Benchmark&#148; means, initially, USD LIBOR; provided that if a Benchmark Transition Event a Term SOFR Transition Event or an Early Opt-in Election, as applicable, and its related
Benchmark Replacement Date have occurred with respect to USD LIBOR or the then-current Benchmark, then &#147;Benchmark&#148; means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark
rate pursuant to paragraph (a)&nbsp;of this Section&nbsp;5.06.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">58 </P>

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<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Benchmark Replacement&#148; means, for any Available Tenor, the first alternative set forth in the order below that can be determined by the Administrative Agent for the applicable
Benchmark Replacement Date:</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(1) the sum of: (a) Term SOFR and (b) the related Benchmark Replacement Adjustment;</U></FONT><FONT
STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(2) the sum
of: (a) Daily Simple SOFR and (b) the related Benchmark Replacement Adjustment;</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(3) the sum
of: (a) the</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> alternate benchmark rate </U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">that has been selected by the Administrative Agent and the Borrowers as the replacement for the then-current Benchmark for
the applicable Corresponding Tenor giving due consideration to (i)&nbsp;any selection or recommendation of a replacement
benchmark</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&nbsp;
</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">rate or the mechanism for determining such a rate by the Relevant Governmental Body or (ii)&nbsp;any evolving
or then-prevailing market convention for determining a </U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">benchmark rate as a replacement for the then-current
Benchmark for U.S. dollar-denominated syndicated credit facilities at such time and (b) the related Benchmark Replacement Adjustment;</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">provided that, in the case
of clause (1), such Unadjusted Benchmark Replacement is displayed on a screen or other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion; provided, further, that, with
respect to a Term SOFR Transition Event, on the applicable Benchmark Replacement Date, the &#147;Benchmark Replacement&#148; shall revert to and shall be determined as set forth in clause (1) of this definition. If the Benchmark Replacement as
determined pursuant to clause (1), (2) or (3) above would be less than the Floor, the Benchmark Replacement will be deemed to be the Floor for the purposes of this Agreement and the other Transaction Documents.</U></FONT><FONT
STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&#147;Benchmark
 Replacement Adjustment&#148; means, with respect to any replacement of </U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">the then-current Benchmark with an
Unadjusted Benchmark Replacement for any applicable Available Tenor for any setting of such Unadjusted Benchmark Replacement:</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(1) for
purposes of clauses (1) and (2) of the definition of &#147;Benchmark Replacement,&#148; the first alternative set forth in the order below that can be determined by the Administrative Agent:</U></FONT><FONT STYLE="font-family:Times New Roman">
</FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(a) the
spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) as of the Reference Time such Benchmark Replacement is first set for such Available Tenor that has been selected
or recommended by the Relevant Governmental Body for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement for the applicable Corresponding Tenor;</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">59 </P>

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<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(b) the
spread adjustment (which may be a positive or negative value or zero) as of the Reference Time such Benchmark Replacement is first set for such Available Tenor that would apply to the fallback rate for a derivative transaction referencing the ISDA
Definitions to be effective upon an index cessation event with respect to such Benchmark for the applicable Corresponding Tenor; and</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(2) for
purposes of clause (3) of the definition of &#147;Benchmark Replacement,&#148; the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected by the
Administrative Agent and the Borrowers for the applicable Corresponding Tenor giving due consideration to (i) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the
replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body on the applicable Benchmark Replacement
Date</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> or (ii) any evolving or then-prevailing market convention for determining a spread adjustment, or
method for calculating or determining such spread adjustment, for </U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">the replacement of such Benchmark with the
applicable Unadjusted Benchmark Replacement</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> for U.S. dollar-denominated </U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">syndicated credit facilities;</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">provided that, (x) in the
case of clause (1) above, such adjustment is displayed on a screen or other information service that publishes such Benchmark Replacement Adjustment from time to time as selected by the Administrative Agent in its reasonable discretion and (y) if
the then-current Benchmark is a term rate, more than one tenor of such Benchmark is available as of the applicable Benchmark Replacement Date and the applicable Unadjusted Benchmark Replacement will not be a term rate, the Available Tenor of such
Benchmark for purposes of this definition of &#147;Benchmark Replacement Adjustment&#148; shall be deemed to be the Available Tenor that has approximately the same length (disregarding business day adjustments) as the payment period for interest
calculated with reference to such Unadjusted Benchmark Replacement.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&#147;Benchmark
 Replacement Conforming Changes&#148; means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of &#147;Base Rate</U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">,&#148; the definition of &#147;Business Day</U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">,&#148; the definition of &#147;Interest Period,&#148; timing and frequency of determining rates and making payments of
interest</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">, timing of borrowing requests or prepayment, conversion or continuation notices, length of lookback
periods, the applicability of breakage provisions, and other technical, administrative or operational</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">
matters) that the Administrative Agent decides may be appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with
market practice (or, if the Administrative Agent decides that adoption of any portion of such market practice is not</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">60 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
<FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">administratively feasible or if the Administrative Agent
determines that no market practice for the administration of </U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">such</U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> Benchmark Replacement exists, in such other manner of administration as the Administrative Agent decides is reasonably
necessary in connection with the administration of this Agreement</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> and the other Transaction
Documents).</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&#147;Benchmark Replacement Date&#148; means the </U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">earliest</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> to
 occur of the following events with respect to </U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">the then-current Benchmark:</U></FONT><FONT
STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(1)
</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">in the case of clause (1)&nbsp;or (2) of the definition of &#147;Benchmark Transition Event,&#148; the later
of (a)&nbsp;the date of the public statement or publication of information referenced therein and (b) the date on which the administrator of
</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">such Benchmark (or the published component used in the calculation thereof</U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">) permanently or indefinitely ceases to provide</U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">
</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">all Available Tenors of such Benchmark (or such component thereof);</U></FONT><FONT
STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(2) in the
case of clause (3)&nbsp;of the definition of &#147;Benchmark Transition Event,&#148; the date determined by the Administrative Agent, which date shall promptly
follow</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> the date of the public statement or publication of information referenced therein</U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">;</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(3) in the
case of a Term SOFR Transition Event, the date that is set forth in the Term SOFR Notice provided to the Lenders and the Borrowers pursuant to this Section&nbsp;5.06, which date shall be at least 30 days from the date of the Term SOFR Notice;
or</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(4) in the
case of an Early Opt-in Election, the sixth (6th) Business Day after the date notice of such Early Opt-in Election is provided to the</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Lenders,</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">
</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">so long as the Administrative Agent has not received, by 5:00 p.m. (New York City time) on the fifth (5th)
Business Day after the date notice of such Early Opt-in Election is provided to the Lenders, written notice of objection to such Early Opt-in Election from Lenders comprising the Majority Lenders.</U></FONT><FONT STYLE="font-family:Times New Roman">
</FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">For the
avoidance of doubt, (i) if the event giving rise to the Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior
to the Reference Time for such determination and (ii)&nbsp;the &#147;Benchmark Replacement Date&#148; will be deemed to have occurred in the case of clause (1)&nbsp;or (2) with respect to any Benchmark upon the occurrence of the applicable event or
events set forth therein with respect to all then-current Available Tenors of such Benchmark (or the published component used in the calculation thereof).</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">61 </P>

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<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&#147;Benchmark
 Transition Event&#148; means the occurrence of one or more of the following events with respect to </U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">the
then-current Benchmark:</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(1) a public statement or publication of information by or on behalf of the administrator of such Benchmark (or the published
component used in the calculation thereof) announcing that such administrator has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof),</U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor
administrator that</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">will continue to provide any Available
Tenor of such Benchmark (or such component thereof);</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(2) a public statement or publication of information by an Official Body having jurisdiction over the Administrative Agent,
the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof), the Federal Reserve Board, the Federal Reserve Bank of New
York,<FONT STYLE="font-family:Times New Roman" COLOR="#00c000"> an insolvency official with jurisdiction over the administrator for
</FONT></U><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">such Benchmark (or such component)</U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">, a resolution authority with jurisdiction over the administrator for </U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">such Benchmark (or such
component</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"><FONT STYLE="font-family:Times New Roman" COLOR="#0000ff">)</FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"> or a court or an entity with similar insolvency or resolution authority over the administrator for </FONT></U><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">such Benchmark (or such
component)</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">, which states that the administrator of</U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">
</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">such Benchmark (or such component) has ceased or will cease to provide all Available Tenors of such
Benchmark (or such component thereof)</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> </U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator
that will continue to provide </U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">any Available Tenor of such Benchmark (or such component thereof);
or</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></FONT></FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(3) a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or
the published component used in the calculation thereof) or an Official Body having jurisdiction over the Administrative Agent announcing that all Available Tenors of such Benchmark (or such component thereof) are no longer
representative.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">For the avoidance of doubt, a &#147;Benchmark Transition Event&#148; will be deemed to have occurred with respect to any
Benchmark if a public statement or publication of information set forth above has occurred with respect to each then-current Available Tenor of such Benchmark (or the published component used in the calculation thereof).</U></FONT><FONT
STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&#147;Benchmark
 Unavailability Period&#148; means </U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">the period (if any)</U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> (x) beginning at the time that <FONT STYLE="font-family:Times New Roman" COLOR="#0000ff">a</FONT></U><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">
</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Benchmark Replacement Date </U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">pursuant to clause (1) or (2) of that definition</U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> has occurred if, at such time, no Benchmark Replacement has replaced </U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">the then-current
Benchmark</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> for all purposes hereunder </U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">and under any Transaction Document in accordance with this</U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> Section 5.06 and (y) ending at the time that a Benchmark Replacement has replaced</U></FONT><FONT
STYLE="font-family:Times New Roman"> </FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">the then-current Benchmark for all purposes hereunder and under any
Transaction Document in accordance with this Section 5.06.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">62 </P>

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<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Corresponding Tenor&#148; with respect to any Available Tenor means, as applicable, either a tenor (including overnight) or an interest payment period having approximately the same length (disregarding
business day adjustment) as such Available Tenor.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Daily Simple SOFR&#148; means, for any day, SOFR, with the conventions
for this rate (which will include a lookback) being established by the Administrative Agent in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining &#147;Daily Simple SOFR&#148; for
business loans; provided, that if the Administrative Agent decides that any such convention is not administratively feasible for the Administrative Agent, then the Administrative Agent may establish another convention in its reasonable
discretion.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Early <FONT STYLE="white-space:nowrap">Opt-in</FONT> Election&#148;
means, if the then-current Benchmark is USD LIBOR, the occurrence of:</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(1) a notification by the Administrative Agent to (or the request by the Borrowers to the Administrative Agent to notify)
each of the other parties hereto that at least five currently outstanding U.S. dollar-denominated syndicated credit facilities at such time contain (as a result of amendment or as originally executed) a SOFR-based rate (including SOFR, a term SOFR
or any other rate based upon SOFR) as a benchmark rate (and such syndicated credit facilities are identified in such notice and are publicly available for review), and</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(2) the
joint election by the Administrative Agent and the Borrowers to trigger a fallback from USD LIBOR and the provision by the Administrative Agent of written notice of such election to the Lenders.</U></FONT><FONT STYLE="font-family:Times New Roman">
</FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Floor&#148; means the benchmark rate floor, if any, provided in this Agreement initially (as of the execution of this Agreement, the modification, amendment or renewal of this Agreement or otherwise) with
respect to USD LIBOR or, if no floor is specified, zero.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;ISDA Definitions&#148; means the 2006 ISDA Definitions published by the
International Swaps and Derivatives Association, Inc. or any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time by the International Swaps
and Derivatives Association, Inc. or such successor thereto.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Reference Time&#148; with respect to any setting of the then-current
Benchmark means (1) if such Benchmark is USD LIBOR, 11:00 a.m. (London time) on the day that is two London banking days preceding the date of such setting, and (2)&nbsp;if such Benchmark is not USD LIBOR, the time determined by the Administrative
Agent in its reasonable discretion.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">63 </P>

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<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&#147;Relevant
 Governmental Body&#148; means the Federal Reserve Board or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Federal Reserve Board</U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> or the Federal Reserve Bank of New York, or any successor thereto.</U></FONT><FONT STYLE="font-family:Times New Roman">
</FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;SOFR&#148; means, with respect to any Business Day, a rate per annum equal to the secured overnight financing rate for such Business Day published by the SOFR Administrator on the SOFR Administrator&#146;s
Website on the immediately succeeding Business Day.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;SOFR Administrator&#148; means the Federal Reserve Bank of New York (or
a successor administrator of the secured overnight financing rate).</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;SOFR Administrator&#146;s Website&#148; means the website of the
Federal Reserve Bank of New York, currently at http://www.newyorkfed.org, or any successor source for the secured overnight financing rate identified as such by the SOFR Administrator from time to time.</U></FONT><FONT
STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Term SOFR&#148; means, for the applicable Corresponding Tenor as of the applicable Reference Time, the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant
Governmental Body.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Term SOFR Notice&#148; means a notification by the Administrative Agent
to the Lenders and the Borrowers of the occurrence of a Term SOFR Transition Event.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Term SOFR Transition Event&#148; means the determination by the Administrative Agent that (a)&nbsp;Term SOFR has been recommended for use by the Relevant Governmental Body, and is determinable for each
Available Tenor, (b)&nbsp;the administration of Term SOFR is administratively feasible for the Administrative Agent and (c) a Benchmark Transition Event has previously occurred resulting in a Benchmark Replacement in accordance with Section 5.06
that is not Term SOFR.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Unadjusted Benchmark Replacement&#148; means the applicable Benchmark
Replacement excluding the related Benchmark Replacement Adjustment.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;USD LIBOR&#148; means the London interbank offered rate for U.S.
dollars.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE VI </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CONDITIONS TO EFFECTIVENESS AND CREDIT EXTENSIONS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 6.01. <U>Conditions Precedent to Effectiveness and the Initial Credit Extension</U>. This Agreement shall become effective as of the
Closing Date when (a)&nbsp;the Administrative Agent shall have received each of the documents, agreements (in fully executed form), opinions of counsel, lien search results, UCC filings, certificates and other deliverables listed on the closing
memorandum attached as <U>Exhibit I</U> hereto, in each case, in form and substance reasonably </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">64 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(o) <U>Perfection Representations</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i) This Agreement creates a valid and continuing security interest (as defined in the applicable UCC) in such Person&#146;s
right, title and interest in, to and under the Collateral which (A)&nbsp;security interest has been perfected and is enforceable against creditors of and purchasers from such Person and (B)&nbsp;will be free of all Adverse Claims in such Collateral.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ii) The Receivables constitute &#147;accounts&#148; or &#147;general intangibles&#148; within the meaning of <FONT
STYLE="white-space:nowrap">Section&nbsp;9-102</FONT> of the UCC. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(iii) The Borrowers own and have good and marketable
title to the Collateral free and clear of any Adverse Claim of any Person, other than Permitted Adverse Claims. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(iv) All
appropriate financing statements, financing statement amendments and continuation statements have been filed in the proper filing office in the appropriate jurisdictions under Applicable Law in order to perfect (and continue the perfection of) the
sale and contribution of the Receivables and Related Security from each applicable Originator to such Person pursuant to the applicable Purchase and Sale Agreements and the grant by such Person of a security interest in the Collateral to the
Administrative Agent pursuant to this Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(v) Other than the security interest granted to the Administrative Agent
pursuant to this Agreement, such Person has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the Collateral except as permitted by this Agreement and the other Transaction Documents. Such Person has not
authorized the filing of and is not aware of any financing statements filed against such Person that include a description of collateral covering the Collateral other than any financing statement (i)&nbsp;in favor of the Administrative Agent or
(ii)&nbsp;that has been terminated. Such Person is not aware of any judgment lien, ERISA lien or tax lien filings against such Person. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(vi) Notwithstanding any other provision of this Agreement or any other Transaction Document, the representations contained in
this Section&nbsp;7.01(o) shall be continuing and remain in full force and effect until the Final Payout Date. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(p) <U>The Lock-Boxes</U><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>.</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">,</U></FONT><FONT STYLE="font-family:Times New Roman"><U> Mail-Boxes</U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff4338"><strike><u>, Approved Accounts</u></strike></FONT><FONT STYLE="font-family:Times New Roman"><U> and Collection Accounts</U>. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i) <U>Nature of Collection Accounts</U>. Each Collection Account constitutes a &#147;deposit account&#148; within the meaning
of the applicable UCC. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ii) <U>Ownership</U>. Each <FONT STYLE="white-space:nowrap">Lock-Box</FONT> and Collection Account
is in the name of a Borrower<FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> (other than the Approved Account at any time prior to the Post-Closing Date)</U></FONT><FONT
STYLE="font-family:Times New Roman">, and the Borrowers own and have good and marketable title to the Collection </FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">69 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Accounts
<FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(other than the Approved Account at any time prior to the Post-Closing Date)</U></FONT><FONT
STYLE="font-family:Times New Roman"> free and clear of any Adverse Claim, other than Permitted Adverse Claims. </FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>Each Approved Account is in the name of a
Borrower, an Originator or an Affiliate thereof and the Borrowers, Originators or such Affiliates (as applicable) own and have</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE> </STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE>good and marketable title to the Approved</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE> </STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>Accounts free and clear of any Adverse Claim, other than Permitted Adverse Claims.</STRIKE></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(iii) <U>Perfection</U>. <FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>On
or</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE> </STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE>prior to the Post-Closing Date</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>, the</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">The</U></FONT><FONT
STYLE="font-family:Times New Roman"> Borrowers have delivered to the Administrative Agent a fully executed Account Control Agreement relating to each <FONT STYLE="white-space:nowrap">Lock-Box</FONT> and Collection Account</FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">
</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(other than the Approved Account at any time</U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE></STRIKE></FONT><U STYLE="border-bottom:1pt double; padding-bottom:1pt">
</U><STRIKE></STRIKE><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">prior to the Post-Closing Date</U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">)</U></FONT><FONT STYLE="font-family:Times New Roman">, pursuant to which each applicable Collection Account Bank has agreed
to comply with the instructions originated by the Administrative Agent directing the disposition of funds in such <FONT STYLE="white-space:nowrap">Lock-Box</FONT> and Collection Account without further consent by any Borrower, the Servicer or any
other Person. </FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>On and after the Post-Closing Date,
the</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">The</U></FONT><FONT STYLE="font-family:Times New Roman"> Administrative Agent has
&#147;control&#148; (as defined in <FONT STYLE="white-space:nowrap">Section&nbsp;9-104</FONT> of the UCC) over each Collection
Account</FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> (other than the Approved Account at any time prior to the Post-Closing Date)</U></FONT><FONT
STYLE="font-family:Times New Roman">. </FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>The owner of each Approved Account has not granted &#147;control&#148; (as defined in
<FONT STYLE="white-space:nowrap">Section&nbsp;9-104</FONT> of the UCC) over such Approved Account to any Person.</STRIKE></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(iv) <U>Instructions</U>. Neither the Lock-Boxes nor the Collection Accounts are in the name of any Person other than a
Borrower. Neither the Borrowers nor the Servicer have consented to the applicable Collection Account Bank complying with instructions of any Person other than the Administrative Agent. Neither the Borrowers nor the Servicer have instructed any
Person (other than any Lamar Party) to distribute any Collections remitted to any <FONT STYLE="white-space:nowrap">Mail-Box</FONT> and no Lamar Party is aware of any Person (other than any Lamar Party) distributing Collections remitted to any <FONT
STYLE="white-space:nowrap">Mail-Box.</FONT> Each <FONT STYLE="white-space:nowrap">Mail-Box</FONT> is an address of the Servicer or an Originator. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(q) <U>Ordinary Course of Business</U>. Each remittance of Collections by or on behalf of such Person to the Credit Parties under this
Agreement will have been (i)&nbsp;in payment of a debt incurred by such Person in the ordinary course of business or financial affairs of such Person and (ii)&nbsp;made in the ordinary course of business or financial affairs of such Person. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(r) <U>Compliance with Law</U>. Such Person has complied in all material respects with all Applicable Laws to which it may be subject. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(s) <U>Bulk Sales Act</U>. No transaction contemplated by this Agreement requires compliance by it with any bulk sales act or similar law.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(t) <U>Eligible Receivables</U>. Each Receivable included as an Eligible Receivable in the calculation of the Net Receivables Pool
Balance as of any date is an Eligible Receivable as of such date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(u) <U>Taxes</U>. Such Person has (i)&nbsp;timely filed all tax returns
(federal, state and local) required to be filed by it and (ii)&nbsp;paid, or caused to be paid, all taxes, assessments and other governmental charges, if any, other than taxes, assessments and other governmental charges </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">70 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(vii) Notwithstanding anything herein to the contrary, any financial
information, proxy statements or other material required to be delivered pursuant to this <U>clause (c)</U>&nbsp;shall be deemed to have been furnished to each of the Administrative Agent and each Lender (and the delivery requirement hereunder with
respect to such financial information, proxy statement or other material shall be deemed satisfied) on the date that such report, proxy statement or other material is posted on the SEC&#146;s website at www.sec.gov. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(d) <U>Notices</U>. Each Borrower (or the Servicer on its behalf) will notify the Administrative Agent and each Lender in writing of any of
the following events promptly upon (but in no event later than three (3)&nbsp;Business Days after) a Financial Officer or other officer learning of the occurrence thereof, with such notice describing the same, and if applicable, the steps being
taken by the Person(s) affected with respect thereto: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i) <U>Notice of Events of Default or Unmatured Events of
Default</U>. A statement of a Financial Officer of such Borrower setting forth details of any Event of Default or Unmatured Event of Default that has occurred and is continuing and the action which such Borrower proposes to take with respect
thereto. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ii) <U>Representations and Warranties</U>. The failure of any representation or warranty made or deemed to be
made by such Borrower under this Agreement or any other Transaction Document to be true and correct in any material respect when made. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(iii) <U>Litigation</U>. The institution of any litigation, arbitration proceeding or governmental proceeding with respect to
any Lamar Party, which with respect to any Person other than any Borrower, could reasonably be expected to have a Material Adverse Effect. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(iv) <U>Adverse Claim</U><I>. </I>(A)&nbsp;Any Person shall obtain an Adverse Claim (other than a Permitted Adverse Claim) upon
the Collateral or any material portion thereof, (B)&nbsp;any Person other than any Borrower, the Servicer or the Administrative Agent
<FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(or solely with respect to the Approved Account at any time prior to the Post-Closing Date, Interstate Logos LLC)
</U></FONT><FONT STYLE="font-family:Times New Roman">shall obtain any rights or direct any action with respect to any Collection Account (or related <FONT STYLE="white-space:nowrap">Lock-Box)</FONT> or (C)&nbsp;any Obligor shall receive any change
in payment instructions with respect to Pool Receivable(s) from a Person other than the Servicer or the Administrative Agent. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(v) <U>Changes Requiring UCC Amendments</U>. (A)&nbsp;At least thirty (30)&nbsp;days before any change in any Borrower&#146;s
name, jurisdiction of organization or any other change requiring the amendment of UCC financing statements, (B)&nbsp;at least thirty (30)&nbsp;days before any change in any Originator&#146;s jurisdiction of organization and (C)&nbsp;not more than
twenty (20)&nbsp;days after any change in any Originator&#146;s name or any other change requiring the amendment of UCC financing statements. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(vi) <U>Change in Accountants or Accounting Policy</U>. Any change in (A)&nbsp;the external accountants of any Lamar Party,
(B)&nbsp;any material accounting policy of any Borrower or (C)&nbsp;any material accounting policy of any Originator that is relevant to the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">77 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(h) <U>Payments on Receivables, Collection Accounts</U>. Each Borrower (or the Servicer on
its behalf) will, and will cause each Originator to, at all times, instruct all Obligors to deliver payments on the Pool Receivables to <FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>(i)</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>&nbsp;</STRIKE></FONT><FONT STYLE="font-family:Times New Roman">a Collection Account, a Mail-Box or a <FONT STYLE="white-space:nowrap">Lock-Box</FONT></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> or (ii)&nbsp;solely with respect to payments being made by any Subject Obligor and so long as the Approved Account Conditions are then satisfied, an Approved
Account</STRIKE></FONT><FONT STYLE="font-family:Times New Roman">. Each Borrower (or the Servicer on its behalf) will promptly (but in any event within two (2)&nbsp;Business Days) following receipt of any Collections that have been mailed to a <FONT
STYLE="white-space:nowrap">Mail-Box,</FONT> cause such Collections to be deposited directly into a Collection Account. </FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>If the Approved Account Conditions are
not then satisfied, each Borrower (or the Servicer on its behalf) will promptly (but in any event within such frequency as requested by the Administrative Agent) following receipt of any Subject Obligor Collections in any Approved Account, cause
such Subject Obligor Collections to be deposited directly into a deposit account reasonably designated by the Administrative Agent (provided, that no Collection Account shall be designated by the Administrative Agent for such purpose unless the
depositary institution at which such Collection Account is maintained is permitted under Applicable Law to receive Subject Obligor Collections). </STRIKE></FONT><FONT STYLE="font-family:Times New Roman">Each Borrower (or the Servicer on its behalf)
will, and will cause each Originator to, at all times, maintain such books and records necessary (i)&nbsp;to identify Collections received from time to time on Pool Receivables, (ii)&nbsp;to permit the segregation of such Collections from other
property of the Servicer and the Originators, (iii)&nbsp;to identify Affiliate Collections and Subject Obligor Collections received from time to time and (iv)&nbsp;to permit the segregation of such Affiliate Collections and Subject Obligor
Collections from other property of the Servicer and the Originators. Each Borrower (or the Servicer on its behalf) shall provide such information with respect to Affiliate Collections deposited into each Collection Account as reasonably requested by
the Administrative Agent. If any payments on the Pool Receivables or other Collections (other than Subject Obligor Collections) are received by the Borrower, the Servicer or an Originator, it shall hold such payments in trust for the benefit of the
Administrative Agent, the Lenders and the other Secured Parties and promptly (but in any event within two (2)&nbsp;Business Days after receipt) remit such funds into a Collection Account. Each Borrower (or the Servicer on its behalf) will cause each
Collection Account Bank to comply with the terms of each applicable Account Control Agreement. The Borrowers shall not permit funds other than (i)&nbsp;Collections on Pool Receivables and other Collateral and (ii)&nbsp;Affiliate Collections, to be
deposited into any Collection Account. If any Affiliate Collections or any other funds that do not constitute Collections on Pool Receivables are deposited into any Collection Account, the Borrowers (or the Servicer on its behalf) will within two
(2)&nbsp;Business Days identify and transfer such funds to the appropriate Person entitled to such funds. The Borrowers will not, and will not permit the Servicer, any Originator or any other Person to commingle Collections or other funds to which
the Administrative Agent, any Lender or any other Secured Party is entitled, with any other funds other than commingling of Affiliate Collections in any Collection Account. The Borrowers shall only add a Collection Account (or a related <FONT
STYLE="white-space:nowrap">Lock-Box)</FONT> or a Collection Account Bank to those listed on Schedule II to this Agreement, if the Administrative Agent has received notice of such addition and an executed and acknowledged copy of an Account Control
Agreement (or an amendment thereto) in form and substance acceptable to the Administrative Agent from the applicable Collection Account Bank. The Borrowers shall only terminate a Collection Account Bank or close a Collection Account (or a related <FONT
STYLE="white-space:nowrap">Lock-Box),</FONT> in each case, with the prior written consent of the Administrative Agent. Each Borrower shall ensure that no disbursements are made from any Collection Account, other than (i)&nbsp;such disbursements that
are made at the direction and for the account of the Borrowers and (ii)&nbsp;Permitted Disbursements. </FONT></P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding anything to the contrary set forth in this Agreement or any other
Transaction Document, if an Event of Default has occurred and is continuing or a Ratings Event has occurred: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) within
two (2)&nbsp;Business Days of the deposit of any Affiliate Collections into any Collection Account (or the related <FONT STYLE="white-space:nowrap">Lock-Box),</FONT> the Borrowers (or the Servicer on its behalf) shall identify the portion of funds
deposited into each Collection Account (and any related <FONT STYLE="white-space:nowrap">Lock-Box)</FONT> that represent Affiliate Collections; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the Borrowers (or the Servicer on its behalf) will, and will cause each Originator to, at all times, maintain such books
and records necessary to (a)&nbsp;identify Affiliate Collections received from time to time and (b)&nbsp;segregate such Affiliate Collections from Collections on Pool Receivables and other Collateral; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) if requested by Administrative Agent following the occurrence of a Ratings Event Level II, the Borrowers (or the Servicer
on its behalf) shall instruct the obligor of each Affiliate Receivable to cease remitting payments with respect to all Affiliate Receivables to any Collection Account or <FONT STYLE="white-space:nowrap">Lock-Box</FONT> and to instead remit payments
with respect thereto to any other account or <FONT STYLE="white-space:nowrap">lock-box</FONT> (other than a Collection Account or <FONT STYLE="white-space:nowrap">Lock-Box</FONT> or any other account owned by the Borrower) from time to time
identified to such obligor;<FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> and</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) if requested by Administrative Agent following the occurrence of a Ratings Event Level II, the Borrowers (or the Servicer
on its behalf) shall take commercially reasonable efforts to ensure that no Affiliate Collections are deposited into any Collection Account (or the related <FONT STYLE="white-space:nowrap">Lock-Box)</FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>; and(v) either (x)&nbsp;promptly (but in any event within the time period designated by the Administrative Agent) following the deposit of any Subject Obligor Collections
into any Approved Account, the Borrowers (or the Servicer on its behalf) shall cause such Subject Obligor Collections to be deposited directly into a deposit account reasonably designated by the Administrative Agent (provided, that no Collection
Account shall be designated by the Administrative Agent for such purpose unless the depositary institution at which such Collection Account is maintained is permitted under Applicable Law to receive Subject Obligor Collections) or (y)&nbsp;within 30
days following the occurrence of such Event of Default or Ratings Event (or such longer period as consented to in writing by the Administrative Agent in its sole discretion), cause each Approved Account to be covered by an Account Control
Agreement</STRIKE></FONT><FONT STYLE="font-family:Times New Roman">. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i) <U>Sales, Liens, etc.</U> Except as otherwise provided
herein, the Borrowers will not sell, assign (by operation of law or otherwise) or otherwise dispose of, or create or suffer to exist any Adverse Claim upon (including, without limitation, the filing of any financing statement but excluding any
Permitted Adverse Claim) or with respect to, any Pool Receivable or other Collateral, or assign any right to receive income in respect thereof. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">not be subject to withholding under Section&nbsp;1446 of the Code. No action will be taken that would cause
any Borrower to (i)&nbsp;be treated other than as a &#147;disregarded entity&#148; within the meaning of U.S. Treasury Regulation &#167; <FONT STYLE="white-space:nowrap">301.7701-3</FONT> for U.S. federal income tax purposes or (ii)&nbsp;become an
association taxable as a corporation or a publicly traded partnership taxable as a corporation for U.S. federal income tax purposes. No Borrower shall become subject to any Tax in any jurisdiction outside the United States. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(aa) <U>Commingling</U>. Each Borrower (or the Servicer on its behalf) will, and will cause each Originator to, at all times, ensure that for
each calendar month, that no more than 2.5% (or after the occurrence of a Ratings Event Level II, such lesser percentage as the Administrative Agent may notify the Borrowers upon no less than 30 days prior notice, which percentage may be 0%) of the
aggregate amount of all funds deposited into the Collection Accounts during such calendar month constitute Affiliate Collections. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(bb) <FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>Subject Obligor Collections. Each Borrower (or the Servicer on its behalf) will, and will cause each Originator to, at all times, ensure that for each calendar month, no
more than $10,000,000 of Subject Obligor Collections are deposited into the Approved
Accounts.</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">[Reserved].</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(cc) <U>Liquidity Coverage Ratio</U>. No Borrower shall issue any LCR Security. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(dd) <U>Minimum Funding Threshold</U>. Each Borrower shall cause the Aggregate Capital to exceed the Minimum Funding Threshold at all times.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 8.02. <U>Covenants of the Servicer</U>. At all times from the Closing Date until the Final Payout Date: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) <U>Existence</U>. The Servicer shall keep in full force and effect its existence and rights as a corporation or other entity under the
laws of the State of Delaware. The Servicer shall obtain and preserve its qualification to do business in each jurisdiction in which the conduct of its business or the servicing of the Pool Receivables as required by this Agreement requires such
qualification, except where the failure to do so could not reasonably be expected to have a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) <U>Financial
Reporting</U>. The Servicer will maintain a system of accounting established and administered in accordance with GAAP, and the Servicer shall furnish to the Administrative Agent and each Lender: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i) <U>Compliance Certificates</U>. (A)&nbsp;A compliance certificate promptly upon completion of the annual report of Holdings
and in no event later than 120 days after the close of Holdings&#146; fiscal year, in form and substance substantially similar to <U>Exhibit H</U> signed by a Financial Officer of the Servicer stating that no Event of Default or Unmatured Event of
Default has occurred and is continuing, or if any Event of Default or Unmatured Event of Default has occurred and is continuing, stating the nature and status thereof and (B)&nbsp;within 60 days after the close of each of the first three fiscal
quarters of Holding, a compliance certificate in form and substance substantially similar to <U>Exhibit H</U> signed by a Financial Officer of the Servicer stating that no Event of Default or representative therefor) of any of its material Debt
pursuant to the terms of the documentation governing the same. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(vii) Notwithstanding anything herein to the contrary, any financial
information, proxy statements or other material required to be delivered pursuant to this <U>clause (c)</U>&nbsp;shall be deemed to have been furnished to each of the Administrative Agent and each Lender (and the delivery requirement hereunder with
respect to such financial information, proxy statement or other material shall be deemed satisfied) on the date that such report, proxy statement or other material is posted on the SEC&#146;s website at www.sec.gov. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) <U>Notices</U>. The Servicer will notify the Administrative Agent and each Lender in writing of any of the following events promptly upon
(but in no event later than three (3)&nbsp;Business Days after) a Financial Officer or other officer learning of the occurrence thereof, with such notice describing the same, and if applicable, the steps being taken by the Person(s) affected with
respect thereto: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i) <U>Notice of Events of Default or Unmatured Events of Default</U>. A statement of a Financial Officer
of the Servicer setting forth details of any Event of Default or Unmatured Event of Default that has occurred and is continuing and the action which the Servicer proposes to take with respect thereto. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ii) <U>Representations and Warranties</U>. The failure of any representation or warranty made or deemed made by the Servicer
under this Agreement or any other Transaction Document to be true and correct in any material respect when made. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(iii)
<U>Litigation</U>. The institution of any litigation, arbitration proceeding or governmental proceeding with respect to any Lamar Party which could reasonably be expected to have a Material Adverse Effect. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(iv) <U>Adverse Claim</U><I>. </I>(A)&nbsp;Any Person shall obtain an Adverse Claim (other than a Permitted Adverse Claim) upon
the Collateral or any material portion thereof, (B)&nbsp;any Person other than the Borrower, the Servicer or the Administrative Agent
<FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(or solely with respect to the Approved Account at any time prior to the Post-Closing Date, Interstate Logos LLC)
</U></FONT><FONT STYLE="font-family:Times New Roman">shall obtain any rights or direct any action with respect to any Collection Account (or related <FONT STYLE="white-space:nowrap">Lock-Box)</FONT> or (C)&nbsp;any Obligor shall receive any change
in payment instructions with respect to Pool Receivable(s) from a Person other than the Servicer or the Administrative Agent. </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(v) <U>Changes Requiring UCC Amendments</U>. (A)&nbsp;At least thirty (30)&nbsp;days before any change in any Borrower&#146;s
name, jurisdiction of organization or any other change requiring the amendment of UCC financing statements, (B)&nbsp;at least thirty (30)&nbsp;days before any change in any Originator&#146;s jurisdiction of organization and (C)&nbsp;not more than
twenty (20)&nbsp;days after any change in any Originator&#146;s name or any other change requiring the amendment of UCC financing statements. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">monitor the servicing of the Pool Receivables, including the disposition of Collections received in the
Mail-Boxes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(f) <U>Payments on Receivables, Collection Accounts</U>. The Servicer will at all times, instruct all Obligors to deliver
payments on the Pool Receivables to <FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>(i)&nbsp;</STRIKE></FONT><FONT STYLE="font-family:Times New Roman">a Collection Account, a
<FONT STYLE="white-space:nowrap">Mail-Box</FONT> or a <FONT STYLE="white-space:nowrap">Lock-Box</FONT></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> or (ii)&nbsp;solely with respect to payments being made
by any Subject Obligor and so long as the Approved Account Conditions are then satisfied, an Approved Account</STRIKE></FONT><FONT STYLE="font-family:Times New Roman">. The Servicer will promptly (but in any event within two (2)&nbsp;Business Days)
following receipt of any Collections that have been mailed to a <FONT STYLE="white-space:nowrap">Mail-Box,</FONT> cause such Collections to be deposited directly into a Collection Account. </FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>If the Approved Account Conditions are not then satisfied, the Servicer will promptly (but in any event within such frequency as requested by the Administrative Agent)
following receipt of any Subject Obligor Collections in any Approved Account, cause such Subject Obligor Collections to be deposited directly into a deposit account reasonably designated by the Administrative Agent (provided, that no Collection
Account shall be designated by the Administrative Agent for such purpose unless the depositary institution at which such Collection Account is maintained is permitted under Applicable Law to receive Subject Obligor Collections). </STRIKE></FONT><FONT
STYLE="font-family:Times New Roman">The Servicer will, at all times, maintain such books and records necessary (i)&nbsp;to identify Collections received from time to time on Pool Receivables, (ii)&nbsp;to permit the segregation of such Collections
from other property of the Servicer and the Originators, (iii)&nbsp;to identify Affiliate Collections and Subject Obligor Collections received from time to time and (iv)&nbsp;to permit the segregation of such Affiliate Collections and Subject
Obligor Collections from other property of the Servicer and the Originators. The Servicer shall provide such information with respect to Affiliate Collections deposited into each Collection Account as reasonably requested by the Administrative
Agent. If any payments on the Pool Receivables or other Collections (other than Subject Obligor Collections) are received by a Borrower, the Servicer or an Originator, it shall hold such payments in trust for the benefit of the Administrative Agent,
the Lenders and the other Secured Parties and promptly (but in any event within two (2)&nbsp;Business Days after receipt) remit such funds into a Collection Account. The Servicer will enforce the terms of each applicable Account Control Agreement.
The Servicer shall not permit funds other than (i)&nbsp;Collections on Pool Receivables and other Collateral and (ii)&nbsp;Affiliate Collections, to be deposited into any Collection Account. If any Affiliate Collections or any other funds that do
not constitute Collections on Pool Receivables are deposited into any Collection Account, the Servicer will within two (2)&nbsp;Business Days identify and transfer such funds to the appropriate Person entitled to such funds. The Servicer will not,
and will not permit any Borrower, any Originator or any other Person to commingle Collections or other funds to which the Administrative Agent, any Lender or any other Secured Party is entitled, with any other funds other than commingling of
Affiliate Collections in any Collection Account. The Servicer shall only add a Collection Account (or a related <FONT STYLE="white-space:nowrap">Lock-Box),</FONT> or a Collection Account Bank to those listed on <U>Schedule II</U> to this Agreement,
if the Administrative Agent has received notice of such addition and an executed and acknowledged copy of an Account Control Agreement (or an amendment thereto) in form and substance acceptable to the Administrative Agent from the applicable
Collection Account Bank. The Servicer shall only terminate a Collection Account Bank or close a Collection Account (or a related <FONT STYLE="white-space:nowrap">Lock-Box),</FONT> in each case, with the prior written consent of the Administrative
Agent. The Servicer shall ensure that no disbursements are made from any Collection Account, other than (i)&nbsp;such disbursements that are made at the direction and for the account of the Borrowers and (ii)&nbsp;Permitted Disbursements.
</FONT></P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding anything to the contrary set forth in this Agreement or any other
Transaction Document, if an Event of Default has occurred and is continuing or a Ratings Event has occurred: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i) within
two Business Days of the deposit of any Affiliate Collections into any Collection Account (or the related <FONT STYLE="white-space:nowrap">Lock-Box),</FONT> the Servicer shall identify the portion of funds deposited into each Collection Account (and
any related <FONT STYLE="white-space:nowrap">Lock-Box)</FONT> that represent Affiliate Collections; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ii) the Servicer
will, and will cause each Originator to, at all times, maintain such books and records necessary to (a)&nbsp;identify Affiliate Collections received from time to time and (b)&nbsp;segregate such Affiliate Collections from Collections on Pool
Receivables and other Collateral; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(iii) if requested by Administrative Agent following the occurrence of a Ratings Event
Level II, the Servicer shall instruct the obligor of each Affiliate Receivable to cease remitting payments with respect to all Affiliate Receivables to any Collection Account or <FONT STYLE="white-space:nowrap">Lock-Box</FONT> and to instead remit
payments with respect thereto to any other account or <FONT STYLE="white-space:nowrap">lock-box</FONT> (other than a Collection Account or <FONT STYLE="white-space:nowrap">Lock-Box</FONT> or any other account owned by any Borrower) from time to time
identified to such obligor;<FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> and</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(iv) if requested by Administrative Agent following the occurrence of a Ratings Event Level II, the Servicer shall take
commercially reasonable efforts to ensure that no Affiliate Collections are deposited into any Collection Account (or the related <FONT STYLE="white-space:nowrap">Lock-Box)</FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>; and(v) either (x)&nbsp;promptly (but in any event within the time period designated by the Administrative Agent in its sole discretion) following the deposit of any
Subject Obligor Collections into any Approved Account, the Servicer shall cause such Subject Obligor Collections to be deposited directly into a deposit account reasonably designated by the Administrative Agent (provided, that no Collection Account
shall be designated by the Administrative Agent for such purpose unless the depositary institution at which such Collection Account is maintained is permitted under Applicable Law to receive Subject Obligor Collections) or (y)&nbsp;within 30 days
following the occurrence of such Event of Default or Ratings Event (or such longer period as consented to in writing by the Administrative Agent in its sole discretion), cause each Approved Account to be covered by an Account Control
Agreement</STRIKE></FONT><FONT STYLE="font-family:Times New Roman">. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(g) <U>Extension or Amendment of Pool
Receivables</U>. Except as otherwise permitted in <U>Section&nbsp;9.02</U>, the Servicer will not alter the delinquency status or adjust the Outstanding Balance or otherwise modify the terms of any Pool Receivable in any material respect, or amend,
modify or waive, in any material respect, any term or condition of any related Contract. The Servicer shall at its expense, timely and fully perform and comply in all material respects with all provisions, covenants and other promises required to be
observed by it under the Contracts related to the Pool Receivables, and timely and fully comply with the Credit and Collection Policy with regard to each Pool Receivable and the related Contract. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(h) <U>Change in Credit and Collection Policy</U>. The Servicer will not make any material change in the Credit and Collection
Policy without the prior written consent of the </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(q) <U>Borrowers&#146; Tax Status</U>. The Servicer shall not take or cause any action to be
taken that could result in any Borrower (i)&nbsp;being treated other than as a &#147;disregarded entity&#148; within the meaning of U.S. Treasury Regulation &#167; <FONT STYLE="white-space:nowrap">301.7701-3</FONT> for U.S. federal income tax
purposes that is wholly owned by a United States person (within the meaning of Section&nbsp;7701(a)(30) of the Code), (ii) becoming an association taxable as a corporation or a publicly traded partnership taxable as a corporation for U.S. federal
income tax purposes, or (iii)&nbsp;becoming subject to any Tax in any jurisdiction outside the United States. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(r) <U>Commingling</U>. The
Servicer will, and will cause each Originator to, at all times, ensure that for each calendar month, that no more than 2.5% (or after the occurrence of a Ratings Event Level II, such lesser percentage as the Administrative Agent may notify the
Servicer upon no less than 30 days prior notice, which percentage may be 0%) of the aggregate amount of all funds deposited into the Collection Accounts during such calendar month constitute Affiliate Collections. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(s) <U>Lines of Business</U>. Neither the Servicer nor any of its Subsidiaries shall engage to any substantial extent in any line or lines of
business activity which would cause earnings from outdoor advertising, out of home media, logo signage and other activities reasonably ancillary thereto to constitute less than 60% of EBITDA for any period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(t) <U>Certain REIT Matters</U>. The Servicer shall at all times conduct its affairs, and shall cause its affiliates to conduct their affairs,
in a manner so as to allow Holdings (or its successor) to qualify as a REIT under all applicable laws, rules and regulations until such time as the Board of Directors of Holdings (or its successor) deems it in the best interests of the Holdings (or
its successor) and its stockholders for Holdings (or its successor) not to remain qualified as a REIT. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>(u) Subject Obligor Collections. The Servicer will, and will cause each Originator to, at all times, ensure that for each calendar month, no more than $10,000,000 of Subject
Obligor Collections are deposited into the Approved Accounts.</STRIKE></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION
8.03. <U>Separate Existence of the Borrowers</U>. Each of the Borrowers and the Servicer hereby acknowledges that the Secured Parties, the Lenders and the Administrative Agent are entering into the transactions contemplated by this Agreement and the
other Transaction Documents in reliance upon each Borrower&#146;s identity as a legal entity separate from any Originator, the Servicer, the Performance Guarantor and their Affiliates. Therefore, each Borrower and the Servicer shall take all steps
specifically required by this Agreement or reasonably required by the Administrative Agent or any Lender to continue each Borrower&#146;s identity as a separate legal entity and to make it apparent to third Persons that each Borrower is an entity
with assets and liabilities distinct from those of the Performance Guarantor, the Originators, the Servicer and any other Person, and is not a division of the Performance Guarantor, the Originators, the Servicer, its Affiliates or any other Person.
Without limiting the generality of the foregoing and in addition to and consistent with the other covenants set forth herein, each Borrower and the Servicer shall take such actions as shall be required in order that: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) <U>Special Purpose Entity</U>. Each Borrower will be a special purpose company whose primary activities are restricted in its Limited
Liability Company Agreement to: (i) </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">93 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) The Servicer shall, as soon as practicable following actual receipt of collected funds,
turn over to the Borrowers the collections of any indebtedness that is not a Pool Receivable, less, if Lamar or an Affiliate thereof is not the Servicer, all reasonable and appropriate
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">out-of-pocket</FONT></FONT> costs and expenses of such Servicer of servicing, collecting and administering such collections. The Servicer, if other than Lamar or an Affiliate thereof,
shall, as soon as practicable upon demand, deliver to the applicable Borrower all records in its possession that evidence or relate to any indebtedness that is not a Pool Receivable, and copies of records in its possession that evidence or relate to
any indebtedness that is a Pool Receivable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) The Servicer&#146;s obligations hereunder shall terminate on the Final Payout Date.
Promptly following the Final Payout Date, the Servicer shall deliver to the Borrowers all books, records and related materials that the Borrowers previously provided to the Servicer, or that have been obtained by the Servicer, in connection with
this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 9.03. <U>Collection Account Arrangements</U>. <FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>Prior to the Post-Closing Date, the
</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">The</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">
</U></FONT><FONT STYLE="font-family:Times New Roman">Borrowers shall have entered into Account Control Agreements with all of the Collection Account Banks
</FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(other than with respect to the Approved Account at any time prior to the Post-Closing Date)</U></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> </U></FONT><FONT STYLE="font-family:Times New Roman">and delivered executed counterparts of each to the Administrative
Agent. Upon the occurrence and during the continuance of an Event of Default, the Administrative Agent may (with the consent of the Majority Lenders) and shall (upon the direction of the Majority Lenders) at any time thereafter give notice to each
Collection Account Bank that the Administrative Agent is exercising its rights under the Account Control Agreements to do any or all of the following: (a)&nbsp;to have the exclusive dominion and control of the Collection Accounts transferred to the
Administrative Agent (for the benefit of the Secured Parties) and to exercise exclusive dominion and control over the funds deposited therein (for the benefit of the Secured Parties), (b) to have the proceeds that are sent to the respective
Collection Accounts redirected pursuant to the Administrative Agent&#146;s instructions rather than deposited in the applicable Collection Account and (c)&nbsp;to take any or all other actions permitted under the applicable Account Control
Agreement. Each Borrower hereby agrees that if the Administrative Agent at any time takes any action set forth in the preceding sentence, the Administrative Agent shall have exclusive control (for the benefit of the Secured Parties) of the proceeds
(including Collections) of all Pool Receivables and each Borrower hereby further agrees to take any other action that the Administrative Agent may reasonably request to transfer such control. Any proceeds of Pool Receivables received by the
Borrowers or the Servicer thereafter shall be sent immediately to, or as otherwise instructed by, the Administrative Agent. </FONT></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 9.04. <U>Enforcement Rights</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) At any time following the occurrence and during the continuation of an Event of Default, a Servicer Termination Event or a Ratings Event
Level II, as applicable: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i) if a Servicer Termination Event has occurred and is continuing, the Administrative Agent (at
the Borrowers&#146; expense) may direct the Obligors that payment of all amounts payable under any Pool Receivable is to be made directly to (A)&nbsp;the Administrative Agent or its designee or (B)&nbsp;a Collection Account or a <FONT
STYLE="white-space:nowrap">Lock-Box;</FONT> </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">officers, agents or employees has made any representations or warranties to it and that no act by the
Administrative Agent hereafter taken, including any review of the affairs of the Borrowers or any Affiliate thereof, shall be deemed to constitute any representation or warranty by the Administrative Agent. Each Credit Party represents and warrants
to the Administrative Agent that, independently and without reliance upon the Administrative Agent or any other Credit Party and based on such documents and information as it has deemed appropriate, it has made and will continue to make its own
appraisal of, and investigation into, the business, operations, property, prospects, financial and other conditions and creditworthiness of each Lamar Party and the Pool Receivables and its own decision to enter into this Agreement and to take, or
omit, action under any Transaction Document. Except for items expressly required to be delivered under any Transaction Document by the Administrative Agent to any Credit Party, the Administrative Agent shall not have any duty or responsibility to
provide any Credit Party with any information concerning any Lamar Party that comes into the possession of the Administrative Agent or any of its directors, officers, agents, employees,
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">attorneys-in-fact</FONT></FONT> or Affiliates. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 11.09.
<U>Successor Administrative Agent</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) The Administrative Agent may, upon at least thirty (30)&nbsp;days&#146; notice to the
Borrowers, the Servicer and each Lender, resign as Administrative Agent. Except as provided below, such resignation shall not become effective until a successor Administrative Agent is appointed by the Majority Lenders as a successor Administrative
Agent and has accepted such appointment. If no successor Administrative Agent shall have been so appointed by the Majority Lenders, within thirty (30)&nbsp;days after the departing Administrative Agent&#146;s giving of notice of resignation, the
departing Administrative Agent may, on behalf of the Secured Parties, appoint a successor Administrative Agent as successor Administrative Agent. If no successor Administrative Agent shall have been so appointed by the Majority Lenders within sixty
(60)&nbsp;days after the departing Administrative Agent&#146;s giving of notice of resignation, the departing Administrative Agent may, on behalf of the Secured Parties, petition a court of competent jurisdiction to appoint a successor
Administrative Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) Upon such acceptance of its appointment as Administrative Agent hereunder by a successor Administrative Agent,
such successor Administrative Agent shall succeed to and become vested with all the rights and duties of the resigning Administrative Agent, and the resigning Administrative Agent shall be discharged from its duties and obligations under the
Transaction Documents. After any resigning Administrative Agent&#146;s resignation hereunder, the provisions of this <U>Article XI</U> and <U>Article XIII</U> shall inure to its benefit as to any actions taken or omitted to be taken by it while it
was the Administrative Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 11.10. <U>Structuring Agent</U>. Each of the parties hereto hereby acknowledges and agrees that the
Structuring Agent shall not have any right, power, obligation, liability, responsibility or duty under this Agreement, other than the Structuring Agent&#146;s right to receive fees pursuant to <U>Section&nbsp;2.03</U>. Each Credit Party acknowledges
that it has not relied, and will not rely, on the Structuring Agent in deciding to enter into this Agreement and to take, or omit to take, any action under any Transaction Document. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">109 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION
11.11.<FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> Erroneous Payments.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(a) Each
Lender hereby agrees that (i) if the Administrative Agent notifies such Lender that the Administrative Agent has determined in its sole discretion that any funds received by such Lender from the Administrative Agent or any of its Affiliates were
erroneously transmitted to, or otherwise erroneously or mistakenly received by, such Lender (whether or not known to such Lender (whether as a payment, prepayment or repayment of principal, interest, fees or otherwise); individually and
collectively, an &#147;Erroneous Payment&#148;) and demands the return of such Erroneous Payment (or a portion thereof), such Lender shall promptly, but in no event later than one Business Day 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 Lender to the date such amount is repaid to the Administrative Agent in same day funds at the greater of the Overnight Bank Funding Rate and a rate determined by the Administrative Agent in accordance with
banking industry rules on interbank compensation from time to time in effect and (ii)&nbsp;such Lender shall not assert any right or claim to the Erroneous Payment, and hereby waives any claim, counterclaim, defense or right of <FONT
STYLE="white-space:nowrap">set-off</FONT> or recoupment with respect to any demand, claim or counterclaim by the Administrative Agent for the return of any Erroneous Payments received, including without limitation waiver of any defense based on
&#147;discharge for value&#148; or any similar doctrine. A notice of the Administrative Agent to any Lender under this clause (a)&nbsp;shall be conclusive, absent manifest error.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(b) Without
limiting immediately preceding clause (a), each Lender hereby further agrees that if it receives an Erroneous Payment from the Administrative Agent (or any of its Affiliates) (i) that is in an amount different than (other than a de <I>minimis
</I>difference), or on a different date from, that specified in a notice of payment sent by the Administrative Agent (or any of its Affiliates) with respect to such Erroneous Payment (an &#147;Erroneous Payment Notice&#148;), or (ii)&nbsp;that was
not preceded or accompanied by an Erroneous Payment Notice, it shall be on notice that, in each such case, an error has been made with respect to such Erroneous Payment. Each Lender further agrees that, in each such case, or if it otherwise becomes
aware an Erroneous Payment (or portion thereof) may have been sent in error, such Lender shall promptly notify the Administrative Agent of such occurrence and, upon demand from the Administrative Agent, it shall promptly, but in no event later than
one (1)&nbsp;Business Day thereafter, return to the Administrative Agent the amount of any such Erroneous Payment (or portion thereof) that was received by such Lender to the date such amount is repaid to the Administrative Agent in same day funds
at the greater of the Overnight Bank Funding Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation from time to time in effect.</U></FONT><FONT STYLE="font-family:Times New Roman">
</FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">(c) Each
party&#146;s obligations under this Section 11.11 shall survive the resignation or replacement of the Administrative Agent or any transfer of rights or obligations by, or the replacement of, a Lender, the termination of the Commitments or the
repayment, satisfaction or discharge of all Borrower Obligations (or any portion thereof) under any Transaction Document.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">SECTION
11.12.</U></FONT><FONT STYLE="font-family:Times New Roman"> <U>LIBOR Notification</U>. <U>Section&nbsp;5.06</U> (&#147;<I><FONT STYLE="font-family:Times New Roman" COLOR="#ff0000"><STRIKE>Successor Adjusted LIBOR or LMIR</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Benchmark Replacement Setting</U></FONT></I>&#148;) provides a mechanism for determining an alternative rate of interest in the event that
</FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>Adjusted LIBOR or
LMIR</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">the London interbank offered rate</U></FONT><FONT STYLE="font-family:Times New Roman"> is no
</FONT></P>
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longer available or in certain other circumstances. The Administrative Agent does not warrant or accept any responsibility for and shall not have any liability with respect to, the
administration, submission or any other matter related to the London interbank offered rate or other rates in the definition of Adjusted LIBOR<FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE> or</STRIKE></FONT><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">,</U></FONT><FONT STYLE="font-family:Times New Roman"> LMIR or with respect to any alternative or successor rate thereto, or
replacement rate therefor. </FONT></P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE XII </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>[RESERVED] </B></P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE
XIII </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>INDEMNIFICATION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 13.01. <U>Indemnities by the Borrowers</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) Without limiting any other rights that the Administrative Agent, the Credit Parties, the Affected Persons and their respective assigns,
officers, directors, agents and employees (each, a &#147;<U>Borrower Indemnified Party</U>&#148;) may have hereunder or under Applicable Law, each Borrower, jointly and severally, hereby agrees to indemnify each Borrower Indemnified Party from and
against any and all claims, losses and liabilities (including reasonable and documented Attorney Costs) (all of the foregoing being collectively referred to as &#147;<U>Borrower Indemnified Amounts</U>&#148;) arising out of or resulting from this
Agreement or any other Transaction Document or the use of proceeds of the Credit Extensions or the security interest in respect of any Pool Receivable or any other Collateral; <U>excluding</U>, <U>however</U>, (a)&nbsp;Borrower Indemnified Amounts
to the extent a final <FONT STYLE="white-space:nowrap">non-appealable</FONT> judgment of a court of competent jurisdiction holds that such Borrower Indemnified Amounts resulted solely from the fraud, gross negligence or willful misconduct by the
Borrower Indemnified Party seeking indemnification or material breach by such Borrower Indemnified Party of this Agreement or any other Transaction Document, (b)&nbsp;Taxes that are covered by <U>Section&nbsp;5.03</U> (other than any Taxes that
represent losses, claims, damages, etc. arising from any <FONT STYLE="white-space:nowrap">non-Tax</FONT> claim) and (c)&nbsp;Borrower Indemnified Amounts to the extent the same includes losses in respect of Pool Receivables that are uncollectible
solely on account of the insolvency, bankruptcy, lack of creditworthiness or other financial inability to pay of the related Obligor. Without limiting or being limited by the foregoing, each Borrower shall, jointly and severally, pay on demand (it
being understood that if any portion of such payment obligation is made from Collections, such payment will be made at the time and in the order of priority set forth in <U>Section&nbsp;4.01</U>), to each Borrower Indemnified Party any and all
amounts necessary to indemnify such Borrower Indemnified Party from and against any and all Borrower Indemnified Amounts relating to or resulting from any of the following (but excluding Borrower Indemnified Amounts and Taxes described in <U>clauses
(a)</U>, <U>(b)</U> and <U>(c)</U>&nbsp;above): </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">indicated, references in this Agreement to any Section, Schedule or Exhibit are to such Section Schedule or
Exhibit to this Agreement, as the case may be, and references in any Section, subsection, or clause to any subsection, clause or subclause are to such subsection, clause or subclause of such Section, subsection or clause. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 14.20.<U> Post-Closing Covenants</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) On or prior to the Post-Closing Date, the Borrowers and the Servicer shall deliver to the Administrative Agent a fully executed Account
Control Agreement with respect to the
<FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>Collection</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Approved</U>
</FONT><FONT STYLE="font-family:Times New Roman"> Account, in form and substance reasonably satisfactory to the Administrative Agent. </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) <FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>No later than 30 days following the date hereof (or such
later date as the Administrative Agent shall consent to in writing)</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">On or prior to the Post-Closing
Date</U></FONT><FONT STYLE="font-family:Times New Roman">, the Borrowers and the Servicer shall deliver to the Administrative Agent </FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>written opinions of counsel
to the Lamar Parties</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">either (i)&nbsp;confirmation</U></FONT><FONT STYLE="font-family:Times New Roman">,
in form and substance reasonably satisfactory to the Administrative Agent, </FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>covering each of the following items: (i)&nbsp;security interest perfection matters
with respect to each Lamar Party organized in any jurisdiction other than Delaware and Louisiana, (ii)&nbsp;security interest perfection matters with respect to the Account Control Agreement and (iii)&nbsp;review of lien searches with respect to
each Lamar Party organized in any jurisdiction other than Delaware and Louisiana</STRIKE></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">that the Approved
Account has been novated to a Borrower and that a Borrower has</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><STRIKE></STRIKE></FONT><U STYLE="border-bottom:1pt double; padding-bottom:1pt"> </U><STRIKE></STRIKE><FONT
STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">good and marketable title to the
Approved</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#00c000"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">
</U></FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">Account or (ii) confirmation, in form and substance reasonably satisfactory to the Administrative Agent,
that a new account has been opened in the name of a Borrower at Hancock Whitney Bank (or another depository institution reasonably acceptable to the Administrative Agent and not prohibited under Applicable Law from receiving Subject Obligor
Collections)</U></FONT><FONT STYLE="font-family:Times New Roman">. </FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) Notwithstanding anything to the contrary set forth in this
Agreement or any other Transaction Document, the failure of the Borrowers or the Servicer to timely perform its respective obligations under this <U>Section&nbsp;14.20</U> shall constitute an immediate Event of Default under this Agreement with no
grace period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">SECTION
14.21. Joinder of Originators. Each of the parties hereto hereby acknowledge and agree that solely in connection with the joinder of any additional Person as an &#147;Originator&#148; under any Purchase and Sale Agreement pursuant to either
(a)&nbsp;Section&nbsp;4.3 of the QRS Purchase and Sale Agreement or (b)&nbsp;Section&nbsp;4.3 of the TRS Purchase and Sale Agreement, as applicable, that so long as each of the Joinder Conditions are satisfied as of the date of such joinder, then
the prior written consent of the Administrative Agent shall not be require solely in connection with such joinder.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">For purposes of this Section
14.21, the terms set forth below shall have the following meanings:</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&#147;Joinder
 Conditions&#148; means each of the following conditions: (i)&nbsp;no Event of Default, Unmatured Event of Default, Purchase and Sale Termination Event or Unmatured Purchase and Sale Termination Event has occurred and is continuing or would result
from such joinder, (ii)&nbsp;a pro forma Information Package, prepared after giving effect to such joinder, shall have been delivered to the Administrative Agent, (iii)</U></FONT><FONT STYLE="font-family:Times New Roman">
</FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">126 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
<FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">each of the conditions set forth in either
(a)&nbsp;Section&nbsp;4.3 of the QRS Purchase and Sale Agreement or (b)&nbsp;Section&nbsp;4.3 of the TRS Purchase and Sale Agreement, as applicable, have been satisfied on or before the date of such joinder, (iv)&nbsp;the aggregate Outstanding
Balance of all Receivables of such Subject Originator as of the related <FONT STYLE="white-space:nowrap">Cut-Off</FONT> Date (as defined in the related Purchase and Sale Agreement) for such Subject Originator does not exceed 5.0% of the aggregate
Outstanding Balance of all Receivables then in the Receivables Pool as of such related <FONT STYLE="white-space:nowrap">Cut-Off</FONT> Date, (v)&nbsp;each Obligor with respect to the Receivables of such Subject Originator has been instructed to
remit Collections in respect thereof directly to a <FONT STYLE="white-space:nowrap">Lock-Box</FONT> or Collection Account in the United States of America, (vi)&nbsp;the Receivables of such Subject Originator represents all or part of the sales price
or other right to payment in connection with the provision by such Subject Originator of advertising space on <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">out-of-home</FONT></FONT> advertising structures and sites in the United
States, (vii)&nbsp;the Administrative Agent has received all documentation and other information requested by the Administrative Agent with respect to &#147;know your customer&#148; and anti-money laundering rules and regulations, including, without
limitation, the PATRIOT Act, (viii)&nbsp;the Performance Guarantor has delivered an amendment to (or reaffirmation of) the Performance Guaranty, in form and substance reasonably satisfactory to the Administrative Agent, (ix)&nbsp;such additional
Person is a Subject Originator and (x)&nbsp;no more than four (4) (or such additional number as may be consented to in writing by the Administrative Agent in its sole discretion) additional People (including such proposed additional Person) have
been joined to the Purchase and Sale Agreements as &#147;Originators&#148; pursuant to Section&nbsp;4.3 thereof.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">&#147;Subject
 Originator&#148; means any Person that is joined to a Purchase and Sale Agreement as an &#147;Originator&#148; pursuant to Section&nbsp;4.3 thereof.</U></FONT><FONT STYLE="font-family:Times New Roman"> </FONT></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>[Signature Pages Follow] </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">127 </P>

</DIV></Center>

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<TYPE>EX-101.SCH
<SEQUENCE>3
<FILENAME>lamr-20210524.xsd
<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA
<TEXT>
<XBRL>
<?xml version="1.0" encoding="utf-8"?>
<!--Generated by DFIN XBRL Instance Document - http://www.dfinsolutions.com/ - Version R3.0 - on 28-May-2021 [04:17:50] {PM}-->
<schema targetNamespace="http://www.lamar.com/20210524" elementFormDefault="qualified" xmlns:lamr="http://www.lamar.com/20210524" xmlns="http://www.w3.org/2001/XMLSchema" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xl="http://www.xbrl.org/2003/XLink" xmlns:us-gaap="http://fasb.org/us-gaap/2020-01-31" xmlns:country="http://xbrl.sec.gov/country/2020-01-31" xmlns:currency="http://xbrl.sec.gov/currency/2020-01-31" xmlns:dei="http://xbrl.sec.gov/dei/2020-01-31" xmlns:exch="http://xbrl.sec.gov/exch/2020-01-31" xmlns:naics="http://xbrl.sec.gov/naics/2017-01-31" xmlns:sic="http://xbrl.sec.gov/sic/2020-01-31" xmlns:us-types="http://fasb.org/us-types/2020-01-31" xmlns:stpr="http://xbrl.sec.gov/stpr/2018-01-31" xmlns:deprecated="http://www.xbrl.org/2009/arcrole/fact-explanatoryFact" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:srt="http://fasb.org/srt/2020-01-31" xmlns:srt-types="http://fasb.org/srt-types/2020-01-31">
<annotation>
<appinfo>
<link:roleType roleURI="http://www.lamar.com/role/CoverPage" id="CoverPage">
<link:definition>1001 - Document - Cover Page</link:definition>
<link:usedOn>link:presentationLink</link:usedOn>
<link:usedOn>link:definitionLink</link:usedOn>
<link:usedOn>link:calculationLink</link:usedOn>
</link:roleType>
<link:linkbaseRef xlink:type="simple" xlink:href="lamr-20210524_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
<link:linkbaseRef xlink:type="simple" xlink:href="lamr-20210524_def.xml" xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
<link:linkbaseRef xlink:type="simple" xlink:href="lamr-20210524_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
<link:linkbaseRef xlink:type="simple" xlink:href="lamr-20210524_cal.xml" xlink:role="http://www.xbrl.org/2003/role/calculationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
</appinfo>
</annotation>
<import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" />
<import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" />
<import namespace="http://xbrl.org/2005/xbrldt" schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd" />
<import namespace="http://fasb.org/us-gaap/2020-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd" />
<import namespace="http://xbrl.sec.gov/country/2020-01-31" schemaLocation="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd" />
<import namespace="http://xbrl.sec.gov/currency/2020-01-31" schemaLocation="https://xbrl.sec.gov/currency/2020/currency-2020-01-31.xsd" />
<import namespace="http://xbrl.sec.gov/exch/2020-01-31" schemaLocation="https://xbrl.sec.gov/exch/2020/exch-2020-01-31.xsd" />
<import namespace="http://xbrl.sec.gov/naics/2017-01-31" schemaLocation="https://xbrl.sec.gov/naics/2017/naics-2017-01-31.xsd" />
<import namespace="http://xbrl.sec.gov/sic/2020-01-31" schemaLocation="https://xbrl.sec.gov/sic/2020/sic-2020-01-31.xsd" />
<import namespace="http://xbrl.sec.gov/stpr/2018-01-31" schemaLocation="https://xbrl.sec.gov/stpr/2018/stpr-2018-01-31.xsd" />
<import namespace="http://www.xbrl.org/2009/role/negated" schemaLocation="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd" />
<import namespace="http://www.xbrl.org/2009/role/net" schemaLocation="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd" />
<import namespace="http://www.xbrl.org/2009/arcrole/fact-explanatoryFact" schemaLocation="http://www.xbrl.org/lrr/arcrole/factExplanatory-2009-12-16.xsd" />
<import namespace="http://xbrl.sec.gov/dei/2020-01-31" schemaLocation="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd" />
<import namespace="http://www.xbrl.org/dtr/type/numeric" schemaLocation="http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd" />
<import namespace="http://www.xbrl.org/dtr/type/non-numeric" schemaLocation="http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd" />
<import namespace="http://fasb.org/us-types/2020-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2020/elts/us-types-2020-01-31.xsd" />
<import namespace="http://fasb.org/srt-types/2020-01-31" schemaLocation="http://xbrl.fasb.org/srt/2020/elts/srt-types-2020-01-31.xsd" />
<import namespace="http://fasb.org/srt/2020-01-31" schemaLocation="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd" />
<element name="LamarMediaCorporationAndSubsidiariesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" id="lamr_LamarMediaCorporationAndSubsidiariesMember" substitutionGroup="xbrli:item" />
</schema>
</XBRL>
</TEXT>
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<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>4
<FILENAME>lamr-20210524_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="utf-8"?>
<!--Generated by DFIN XBRL Instance Document - http://www.dfinsolutions.com/ - Version R3.0 - on 28-May-2021 [04:17:50] {PM}-->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
<roleRef xlink:type="simple" xlink:href="lamr-20210524.xsd#CoverPage" roleURI="http://www.lamar.com/role/CoverPage" />
<calculationLink xlink:type="extended" xlink:role="http://www.lamar.com/role/CoverPage">
</calculationLink>
</linkbase>
</XBRL>
</TEXT>
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<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>5
<FILENAME>lamr-20210524_def.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="utf-8"?>
<!--Generated by DFIN XBRL Instance Document - http://www.dfinsolutions.com/ - Version R3.0 - on 28-May-2021 [04:17:50] {PM}-->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:xbrldt="http://xbrl.org/2005/xbrldt">
<roleRef xlink:type="simple" xlink:href="lamr-20210524.xsd#CoverPage" roleURI="http://www.lamar.com/role/CoverPage" />
<arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/all" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#all" />
<arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-default" />
<arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-domain" />
<arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/domain-member" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#domain-member" />
<arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#hypercube-dimension" />
<arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/notAll" xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#notAll" />
<definitionLink xlink:type="extended" xlink:role="http://www.lamar.com/role/CoverPage">
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentInformationLineItems" xlink:label="loc_dei_DocumentInformationLineItems_6" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentInformationTable" xlink:label="loc_dei_DocumentInformationTable_3" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_dei_DocumentInformationLineItems_6" xlink:to="loc_dei_DocumentInformationTable_3" xbrldt:contextElement="segment" xbrldt:closed="true" use="optional" order="1" />
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<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_dei_DocumentInformationTable_3" xlink:to="loc_srt_ConsolidatedEntitiesAxis_4" use="optional" order="2" />
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<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_srt_ConsolidatedEntitiesAxis_4" xlink:to="loc_srt_ConsolidatedEntitiesDomain_5" use="optional" order="3" />
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<loc xlink:type="locator" xlink:href="lamr-20210524.xsd#lamr_LamarMediaCorporationAndSubsidiariesMember" xlink:label="loc_lamr_LamarMediaCorporationAndSubsidiariesMember_7" />
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityRegistrantName" xlink:label="loc_dei_EntityRegistrantName_8" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_DocumentInformationLineItems_6" xlink:to="loc_dei_EntityRegistrantName_8" use="optional" order="6" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_AmendmentFlag" xlink:label="loc_dei_AmendmentFlag_9" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_DocumentInformationLineItems_6" xlink:to="loc_dei_AmendmentFlag_9" use="optional" order="7" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="loc_dei_EntityCentralIndexKey_10" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_DocumentInformationLineItems_6" xlink:to="loc_dei_EntityCentralIndexKey_10" use="optional" order="8" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentType" xlink:label="loc_dei_DocumentType_11" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_DocumentInformationLineItems_6" xlink:to="loc_dei_DocumentType_11" use="optional" order="9" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="loc_dei_DocumentPeriodEndDate_12" />
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="loc_dei_EntityIncorporationStateCountryCode_13" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_DocumentInformationLineItems_6" xlink:to="loc_dei_EntityIncorporationStateCountryCode_13" use="optional" order="11" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityFileNumber" xlink:label="loc_dei_EntityFileNumber_14" />
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityTaxIdentificationNumber" xlink:label="loc_dei_EntityTaxIdentificationNumber_15" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_DocumentInformationLineItems_6" xlink:to="loc_dei_EntityTaxIdentificationNumber_15" use="optional" order="13" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressAddressLine1" xlink:label="loc_dei_EntityAddressAddressLine1_16" />
<definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_DocumentInformationLineItems_6" xlink:to="loc_dei_EntityAddressAddressLine1_16" use="optional" order="14" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressCityOrTown" xlink:label="loc_dei_EntityAddressCityOrTown_17" />
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressStateOrProvince" xlink:label="loc_dei_EntityAddressStateOrProvince_18" />
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressPostalZipCode" xlink:label="loc_dei_EntityAddressPostalZipCode_19" />
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_SecurityExchangeName" xlink:label="loc_dei_SecurityExchangeName_28" />
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:label="loc_dei_EntityEmergingGrowthCompany_29" />
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</definitionLink>
</linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>6
<FILENAME>lamr-20210524_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="utf-8"?>
<!--Generated by DFIN XBRL Instance Document - http://www.dfinsolutions.com/ - Version R3.0 - on 28-May-2021 [04:17:50] {PM}-->
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<labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_CoverAbstract" xml:lang="en-US">Cover [Abstract]</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_DocumentInformationTable" xml:lang="en-US">Document Information [Table]</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_srt_ConsolidatedEntitiesAxis" xml:lang="en-US">Consolidated Entities [Axis]</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_srt_ConsolidatedEntitiesDomain" xml:lang="en-US">Consolidated Entities [Domain]</label>
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<loc xlink:type="locator" xlink:href="lamr-20210524.xsd#lamr_LamarMediaCorporationAndSubsidiariesMember" xlink:label="loc_lamr_LamarMediaCorporationAndSubsidiariesMember" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_lamr_LamarMediaCorporationAndSubsidiariesMember" xml:lang="en-US">Lamar Media Corporation And Subsidiaries [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_lamr_LamarMediaCorporationAndSubsidiariesMember" xml:lang="en-US">LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]</label>
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentInformationLineItems" xlink:label="loc_dei_DocumentInformationLineItems" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_DocumentInformationLineItems" xml:lang="en-US">Document Information [Line Items]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_DocumentInformationLineItems" xml:lang="en-US">Document Information [Line Items]</label>
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityRegistrantName" xlink:label="loc_dei_EntityRegistrantName" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityRegistrantName" xml:lang="en-US">Entity Registrant Name</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityRegistrantName" xml:lang="en-US">Entity Registrant Name</label>
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_AmendmentFlag" xlink:label="loc_dei_AmendmentFlag" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_AmendmentFlag" xml:lang="en-US">Amendment Flag</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_AmendmentFlag" xml:lang="en-US">Amendment Flag</label>
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="loc_dei_EntityCentralIndexKey" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityCentralIndexKey" xml:lang="en-US">Entity Central Index Key</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityCentralIndexKey" xml:lang="en-US">Entity Central Index Key</label>
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentType" xlink:label="loc_dei_DocumentType" />
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="loc_dei_DocumentPeriodEndDate" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_DocumentPeriodEndDate" xml:lang="en-US">Document Period End Date</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_DocumentPeriodEndDate" xml:lang="en-US">Document Period End Date</label>
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="loc_dei_EntityIncorporationStateCountryCode" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityIncorporationStateCountryCode" xml:lang="en-US">Entity Incorporation, State or Country Code</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityIncorporationStateCountryCode" xml:lang="en-US">Entity Incorporation State Country Code</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityIncorporationStateCountryCode" xlink:to="lab_dei_EntityIncorporationStateCountryCode" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityFileNumber" xlink:label="loc_dei_EntityFileNumber" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityFileNumber" xml:lang="en-US">Entity File Number</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityFileNumber" xml:lang="en-US">Entity File Number</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityFileNumber" xlink:to="lab_dei_EntityFileNumber" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityTaxIdentificationNumber" xlink:label="loc_dei_EntityTaxIdentificationNumber" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityTaxIdentificationNumber" xml:lang="en-US">Entity Tax Identification Number</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityTaxIdentificationNumber" xml:lang="en-US">Entity Tax Identification Number</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityTaxIdentificationNumber" xlink:to="lab_dei_EntityTaxIdentificationNumber" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressAddressLine1" xlink:label="loc_dei_EntityAddressAddressLine1" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityAddressAddressLine1" xml:lang="en-US">Entity Address, Address Line One</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityAddressAddressLine1" xml:lang="en-US">Entity Address, Address Line One</label>
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<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressCityOrTown" xlink:label="loc_dei_EntityAddressCityOrTown" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityAddressCityOrTown" xml:lang="en-US">Entity Address, City or Town</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityAddressCityOrTown" xml:lang="en-US">Entity Address, City or Town</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressCityOrTown" xlink:to="lab_dei_EntityAddressCityOrTown" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressStateOrProvince" xlink:label="loc_dei_EntityAddressStateOrProvince" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityAddressStateOrProvince" xml:lang="en-US">Entity Address, State or Province</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityAddressStateOrProvince" xml:lang="en-US">Entity Address, State or Province</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressStateOrProvince" xlink:to="lab_dei_EntityAddressStateOrProvince" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressPostalZipCode" xlink:label="loc_dei_EntityAddressPostalZipCode" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_EntityAddressPostalZipCode" xml:lang="en-US">Entity Address, Postal Zip Code</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_EntityAddressPostalZipCode" xml:lang="en-US">Entity Address, Postal Zip Code</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressPostalZipCode" xlink:to="lab_dei_EntityAddressPostalZipCode" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_CityAreaCode" xlink:label="loc_dei_CityAreaCode" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_CityAreaCode" xml:lang="en-US">City Area Code</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_CityAreaCode" xml:lang="en-US">City Area Code</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CityAreaCode" xlink:to="lab_dei_CityAreaCode" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_LocalPhoneNumber" xlink:label="loc_dei_LocalPhoneNumber" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_LocalPhoneNumber" xml:lang="en-US">Local Phone Number</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_LocalPhoneNumber" xml:lang="en-US">Local Phone Number</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_LocalPhoneNumber" xlink:to="lab_dei_LocalPhoneNumber" />
<loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_WrittenCommunications" xlink:label="loc_dei_WrittenCommunications" />
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_dei_WrittenCommunications" xml:lang="en-US">Written Communications</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_dei_WrittenCommunications" xml:lang="en-US">Written Communications</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_WrittenCommunications" xlink:to="lab_dei_WrittenCommunications" />
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        </period>
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    <context id="P05_24_2021To05_24_2021_LamarMediaCorporationAndSubsidiariesMembersrtConsolidatedEntitiesAxis">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001090425</identifier>
            <segment>
                <xbrldi:explicitMember dimension="srt:ConsolidatedEntitiesAxis">lamr:LamarMediaCorporationAndSubsidiariesMember</xbrldi:explicitMember>
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        </entity>
        <period>
            <startDate>2021-05-24</startDate>
            <endDate>2021-05-24</endDate>
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    <dei:EntityRegistrantName
      contextRef="P05_24_2021To05_24_2021_LamarMediaCorporationAndSubsidiariesMembersrtConsolidatedEntitiesAxis"
      id="hidden21824981">LAMAR MEDIA CORP/DE</dei:EntityRegistrantName>
    <dei:EntityRegistrantName contextRef="P05_24_2021To05_24_2021" id="hidden21824982">LAMAR ADVERTISING CO/NEW</dei:EntityRegistrantName>
    <dei:AmendmentFlag contextRef="P05_24_2021To05_24_2021">false</dei:AmendmentFlag>
    <dei:AmendmentFlag contextRef="P05_24_2021To05_24_2021_LamarMediaCorporationAndSubsidiariesMembersrtConsolidatedEntitiesAxis">false</dei:AmendmentFlag>
    <dei:EntityCentralIndexKey contextRef="P05_24_2021To05_24_2021">0001090425</dei:EntityCentralIndexKey>
    <dei:EntityCentralIndexKey contextRef="P05_24_2021To05_24_2021_LamarMediaCorporationAndSubsidiariesMembersrtConsolidatedEntitiesAxis">0000899045</dei:EntityCentralIndexKey>
    <dei:DocumentType contextRef="P05_24_2021To05_24_2021">8-K</dei:DocumentType>
    <dei:DocumentPeriodEndDate contextRef="P05_24_2021To05_24_2021">2021-05-24</dei:DocumentPeriodEndDate>
    <dei:EntityIncorporationStateCountryCode contextRef="P05_24_2021To05_24_2021">DE</dei:EntityIncorporationStateCountryCode>
    <dei:EntityFileNumber contextRef="P05_24_2021To05_24_2021">1-36756</dei:EntityFileNumber>
    <dei:EntityTaxIdentificationNumber contextRef="P05_24_2021To05_24_2021">47-0961620</dei:EntityTaxIdentificationNumber>
    <dei:EntityIncorporationStateCountryCode contextRef="P05_24_2021To05_24_2021_LamarMediaCorporationAndSubsidiariesMembersrtConsolidatedEntitiesAxis">DE</dei:EntityIncorporationStateCountryCode>
    <dei:EntityFileNumber contextRef="P05_24_2021To05_24_2021_LamarMediaCorporationAndSubsidiariesMembersrtConsolidatedEntitiesAxis">1-12407</dei:EntityFileNumber>
    <dei:EntityTaxIdentificationNumber contextRef="P05_24_2021To05_24_2021_LamarMediaCorporationAndSubsidiariesMembersrtConsolidatedEntitiesAxis">72-1205791</dei:EntityTaxIdentificationNumber>
    <dei:EntityAddressAddressLine1 contextRef="P05_24_2021To05_24_2021">5321 Corporate Boulevard</dei:EntityAddressAddressLine1>
    <dei:EntityAddressCityOrTown contextRef="P05_24_2021To05_24_2021">Baton Rouge</dei:EntityAddressCityOrTown>
    <dei:EntityAddressStateOrProvince contextRef="P05_24_2021To05_24_2021">LA</dei:EntityAddressStateOrProvince>
    <dei:EntityAddressPostalZipCode contextRef="P05_24_2021To05_24_2021">70808</dei:EntityAddressPostalZipCode>
    <dei:CityAreaCode contextRef="P05_24_2021To05_24_2021">(225)</dei:CityAreaCode>
    <dei:LocalPhoneNumber contextRef="P05_24_2021To05_24_2021">926-1000</dei:LocalPhoneNumber>
    <dei:WrittenCommunications contextRef="P05_24_2021To05_24_2021">false</dei:WrittenCommunications>
    <dei:SolicitingMaterial contextRef="P05_24_2021To05_24_2021">false</dei:SolicitingMaterial>
    <dei:PreCommencementTenderOffer contextRef="P05_24_2021To05_24_2021">false</dei:PreCommencementTenderOffer>
    <dei:PreCommencementIssuerTenderOffer contextRef="P05_24_2021To05_24_2021">false</dei:PreCommencementIssuerTenderOffer>
    <dei:Security12bTitle contextRef="P05_24_2021To05_24_2021">Class A common stock, $0.001 par value</dei:Security12bTitle>
    <dei:TradingSymbol contextRef="P05_24_2021To05_24_2021">LAMR</dei:TradingSymbol>
    <dei:SecurityExchangeName contextRef="P05_24_2021To05_24_2021">NASDAQ</dei:SecurityExchangeName>
    <dei:EntityEmergingGrowthCompany contextRef="P05_24_2021To05_24_2021">false</dei:EntityEmergingGrowthCompany>
    <dei:EntityEmergingGrowthCompany contextRef="P05_24_2021To05_24_2021_LamarMediaCorporationAndSubsidiariesMembersrtConsolidatedEntitiesAxis">false</dei:EntityEmergingGrowthCompany>
</xbrl>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>10
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.21.1</span><table class="report" border="0" cellspacing="2" id="idm140716528614840">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cover Page<br></strong></div></th>
<th class="th"><div>May 24, 2021</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">LAMAR ADVERTISING CO/NEW<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001090425<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">May 24,  2021<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation State Country Code</a></td>
<td class="text">DE<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">1-36756<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">47-0961620<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">5321 Corporate Boulevard<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Baton Rouge<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">LA<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">70808<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">(225)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">926-1000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre Commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre Commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Security 12b Title</a></td>
<td class="text">Class A common stock, $0.001 par value<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">LAMR<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NASDAQ<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ConsolidatedEntitiesAxis=lamr_LamarMediaCorporationAndSubsidiariesMember', window );">LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">LAMAR MEDIA CORP/DE<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000899045<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation State Country Code</a></td>
<td class="text">DE<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">1-12407<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">72-1205791<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentInformationLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
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<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ConsolidatedEntitiesAxis=lamr_LamarMediaCorporationAndSubsidiariesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ConsolidatedEntitiesAxis=lamr_LamarMediaCorporationAndSubsidiariesMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td></td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
